Phd Student Daniel Ioan DUMITRESCU
Phd Student Diana Valentina SOARE
Academy of Economic Studies, Bucharest
Abstract
At European level, the European Court of Auditors, in the Special Report No. April 2011 “The audit of the SME Guarantee” and Special Report no. 2 of 2012 “Financial instruments financed by the ERDF to support SMEs”, established that where equity instruments and debt instruments, the leverage obtained was not a significant one and it was even lower than the reference levels used as a base instead. Instead, guarantee instruments provides the best way to multiply public funds in the revolving system.
