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medium sized English

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Borrowing costs are rising for highly indebted sovereigns, credit rationing is undermining small and medium-size companies, and falling commodity prices are reducing exporting countries' income.
Even this limited version would constitute progress; most of the gains arise from removing the red tape that complicates cross-border establishment of small and medium-size service enterprises and limits competition in broad sectors of the economy.
There need to be increased funds available to support small and medium-size enterprises - the main source of job creation in all economies - which is especially important, given that credit contraction by banks hits these enterprises especially hard.
The Union for the Mediterranean, launched by French President Nicolas Sarkozy in 2008, must be revitalized and re-directed towards development projects ranging from highways and ports to the promotion of small and medium-size enterprises (SMEs).

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