Activities of Jürgen KLUTE related to 2010/2078(INI)
Plenary speeches (2)
ECB annual report for 2009 - Latest developments on international currency exchange rates (debate)
ECB annual report for 2009 - Latest developments on international currency exchange rates (debate)
Amendments (17)
Amendment 13 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Points out that, when it comes to actual price trends, monetary policy measures are only one factor among others, and in recent years speculative tendencies in individual markets and growing and anticipated shortages of natural resources have played a particular part in pushing up prices;
Amendment 14 #
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Points out that these imbalances pose considerable difficulties for a suitable monetary policy within the euro zone; calls on governments, therefore, to coordinate their economic policies, including the introduction of poverty- proof minimum wages and social standards in all the member countries;
Amendment 15 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Notes that substantial imbalances between the euro zone economies have occurredcontinued to worsen significantly in 2009;
Amendment 21 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Points out that a narrow interpretation of the goal of price stability has favoured the unhealthy ballooning of financial markets in recent years;
Amendment 22 #
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Urges the Commission and Central Bank to draw up proposals in line with the proposal by the Basel Committee on Basel III laying down binding rules for the introduction of an anticyclical buffer; calls on the Council, Commission and Central Bank to work towards the consistent and speedy implementation of the proposals when the Basel Committee proposals are ratified at G20 level;
Amendment 24 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. CondemnsPoints to the fact that the principles of the Stability and Growth Pact were not always fully respected in the past; calls for unrestricted application of the Stability and Growth Pact to be complemented with a European economic government that takes effective action to prevent a race to cut taxes, which is one of several reasons for growing public debt in the euro zone;
Amendment 28 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
Amendment 31 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that the lack of a predefined crisis management mechanism and the uncooperative behaviour of certain individual governments has made a rapid solution to the Greek crisis difficult and will weaken the EMU’s ability to react quickly in potential similar situations in the future;
Amendment 34 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls therefore on the Commission to put forward proposals to strengthen the Stability and Growth Pact andcarry out an open-minded assessment of the impact of the Stability and Growth Pact on economic development and financial stability in the eurozone and to put forward proposals for a crisis management scenario;
Amendment 45 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Points out the determination of the European Parliament to continue the Monetary Dialogue as an essential element forimportant element in democratic scrutinisingy of the ECB;
Amendment 54 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Believes that the crisis has revealed a trPoints out that the extraordinary support measures takend in the economic policies of recent years which leftresponse to the financial crisis in many countries both within and outside the euro area with anare a key reason for the current alarming rates of public debt;
Amendment 60 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Notes that this has lead to, under pressure from speculative attacks against individual euro countries, far -reaching austerity measures which are necessary and often overdue, but which at the same timeere taken which heavily constrain the capacity of governments to act; there
Amendment 65 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Warns that these austerity packages should not lead to measures which could dampen the economic recovery, lead to a further increase in the proportion of citizens at risk of poverty or undermine the credibility of democratically elected governments and strengthen nationalist and xenophobic resentment;
Amendment 75 #
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Would welcome a move from the European Central Bank generally to accept euro country government bonds as security in the context of repurchase agreements, thereby following the tried- and tested-practice used by the Bank of England and the Federal Reserve Bank;
Amendment 80 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Welcomes the commitment of the Basel Committee to increase banks’ capital buffers and to enhance the quality of capital; draws attention, however,Highlights the need for a decisive increase in banks’ capital buffers and to enhance the quality of capital and welcomes the Basel Committee's proposals for a narrower definition of core capital and the introduction of higher capital ratios, but expresses reservations concerning the possible unequal treatment of institutions that are not limited companies and which derive a large proportion of their capital base from silent capital; is concerned at the fact that the Basel Committee's proposals relate exclusively to banks and no rules on capital are defined for funds, and further draws attention to the link between the financial and real economy and the impacts that regulating one can have on the other;
Amendment 81 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Considers that the global financial system needs to be made less fragilere-regulated in order to prevent overheating and speculative bubbles, and that lessons from the crisis must be drawn on a global level to improve the quality of risk management and the transparency of financial markets and limit the role of individual players on the financial markets;
Amendment 91 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Points out that compliance withmeeting the Maastricht criteria is regarded as a precondition for euro membershipadmission to the euro zone;