2124 Amendments of Pedro SILVA PEREIRA
Amendment 38 #
2023/2114(INI)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
– having regard to the European Commission Enlargement Package 2023;
Amendment 41 #
2023/2114(INI)
Motion for a resolution
Citation 8 b (new)
Citation 8 b (new)
– having regard to the 2023 Communication on EU Enlargement Policy;
Amendment 44 #
2023/2114(INI)
Motion for a resolution
Citation 8 c (new)
Citation 8 c (new)
– having regard to the Reform and Growth Facility for the Western Balkans;
Amendment 71 #
2023/2114(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas the European Commission presented the Enlargement Package 2023, including the 2023 Communication on EU Enlargement Policy on 8 November 2023; whereas in its Communication, the European Commission recommends to open negotiations with Ukraine and Moldova, to grant candidate status to Georgia and to open accession negotiations with Bosnia and Herzegovina once the necessary degree of compliance is achieved;
Amendment 202 #
2023/2114(INI)
Motion for a resolution
Recital K
Recital K
K. whereas enlargement is also a major challenge for EU’s financial sustainability, in particular regarding cohesion and agriculture policies; whereas the current and the nex as well as other EU programs and EU-wide solutions; whereas many of the shortcomings and inadequacies in the current mMultiannual fFinancial fFrameworks should be strength are inherent in its logic and design, where predictability of spending drives decisions on structure and amounts and curbs flexibility; whereas there has been a gradual decrease of the EU budget as a percentage of EU gross national income (GNI) and an excessive focus on capping overall spending at roughly 1 % of EU GNI; whereas this has prevented considerablythe Union from delivering on its agreed political ambitions and deprived it of the ability to respond swiftly to crises and emerging needs; whereas the current and the next multiannual financial framework should be properly constructed and significantly strengthened to enable EU enlargement; whereas this financial groundwork must be in place before enlargement takes place;
Amendment 282 #
2023/2114(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Welcomes the European Commission Enlargement Package 2023 and its Communication on EU Enlargement Policy; supports the European Commission recommendation to open negotiations with Ukraine and Moldova, to grant candidate status to Georgia and to open accession megotiations with Bosnia and Herzegovina once the necessary degree of compliance is achieved;
Amendment 290 #
2023/2114(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Encourages enlargement countries to continue acting with determination to implement the necessary reforms and make tangible and irreversible progress, starting with the fundamentals of the EU accession process; Underlines that accession to the EU must always be a merit-based procedure and that each applicant must be assessed on their own merit in fulfilling the Copenhagen criteria and in ensuring full respect for human rights, democracy and the rule of law; stresses that while positive outcomes should be sought as quickly as possible, there should be no fast-track or fixed deadlines for membership; underscores that there can be no short-cuts on fundamental values; points out that alignment with the common foreign and security policy is also a way of showing full adherence to the EU’s fundamental principles and an important indicator for sustainable future membership;
Amendment 445 #
2023/2114(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Stresses that enlargement is a major financial challenge for the EU, in particular regarding cohesion and agriculture policies as well as other EU programs and EU- wide solutions; point out that this challenge cannot be met without a larger EU budget andproperly constructed and funded MFF so that the design of the EU budget enables the Union to take on new tasks and functions while continuing to deliver on agreed programmes and political priorities; further stresses that sufficient new own resources are needed to meet enlargement challenge; notes that thisenlargement adds to other growing demands on EU funding in the fields of financial stability, strategic autonomy, health, energy, decarbonisation, digital, research and defence and security; expects the trend towards a more diversified EU expenditure landscape to continue as the scope and depth of EU cooperation progresses; underlines that such financial reforms must be discussed in parallel with the ongoing accession negotiations and adopted before enlargement takes place; defends its position that the current and future multiannual financial frameworks should be strengthened considerably to enable EU enlargement, architecture should be properly constructed and the funding significantly strengthened to enable EU enlargement, without endangering other EU programmes and political priorities and that this financial groundwork must be in place before enlargement takes place;
Amendment 1 #
2023/2107(INI)
Draft opinion
Recital A
Recital A
A. whereas Japan is the EU’s closest partner in the Indo-Pacific region; whereas in 2022, the EU was Japan’s third largest trading partner, while Japan was the EU’s eighth largest trading partner; whereas together the EU and Japan account for almost a quarter of the world’s gross domestic product;
Amendment 2 #
2023/2107(INI)
Draft opinion
Recital A a (new)
Recital A a (new)
Aa. whereas the EU-Japan Economic Partnership Agreement entered into force on 1 February 2019; whereas bilateral trade flows caught up to pre-pandemic levels in 2021 (EUR 124 billion) and in 2022 bilateral trade flows increased by 13.4% to EUR 140.6 billion in goods; whereas in 2022, EU exports to Japan amounted to EUR 71.5 billion in goods and EUR 35.4 billion in services;
Amendment 6 #
2023/2107(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Highlights that the EU-Japan Economic Partnership Agreement (EPA) that entered into force on 1 February 2019, is a landmark trade agreement benefittis a landmark trade agreement that goes beyond trade, strengthening bnoth only economies; underlines that since then, bilateral trade in goods and services between the EU and Japan has increased, with a positive trade balance for the EUc ties, but also consolidating bilateral cooperation at a global level, which is based on democratic values, the rule of law, free and fair trade, sustainable development, as well as a rules-based multilateral world order;
Amendment 7 #
2023/2107(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Welcomes that since the entry into force of the EPA, bilateral trade in goods and services between the EU and Japan has increased, with a positive trade balance for the EU; welcomes the results after four years of the Economic Partnership Agreement between the EU and Japan, with an increase of 14,9 % of EU exports of good in 2022 over the previous year and an increase of 11,9 % of EU imports of good in the same period;
Amendment 9 #
2023/2107(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Acknowledges that simplified procedures for obtaining tariff preferences and strong rules of origin have facilitated exports from EU companies and small and medium-sized enterprises to Japan; calls on the Commission to continue its outreach events to enable smaller companies to access information and benefit from the agreement;
Amendment 10 #
2023/2107(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Recognises that the EPA has opened new markets for several agri-food sectors, including for fruits, vegetables, meat and wine, resulting in an increase of more than 30 % in EU agri-food exports to Japan since 2018; calls for further cooperation with Japan on the sustainability of global food systems, also taking into account that, in July 2023, the EU fully lifted the import restrictions for food in place following the 2011 Great East Japan earthquake;
Amendment 14 #
2023/2107(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Welcomes the ongoing work towards the extension of the list of geographical indications protecAsks the Commission to accelerate the remaining work for the third amendment to the list of geographical indications annexed to the EPA , bringing us closer to the protection of 300 geographical indications; highlights that the extension of geographical indications so far agreed by the EU and Japan is unprecedented uander the EPA believes it is an important step forward in the protection of EU geographical indications at the global level;
Amendment 18 #
2023/2107(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Recalls the importance ofUnderlines that the implementingation of the EPA fully and effectively, includinghas overall been smooth and successful but demands further progress in the areas of government procurement to ensure transparency, and in the implementation of sanitary and phytosanitary (SPS) commitments to speed up and simplify import procedures;
Amendment 21 #
2023/2107(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
Amendment 24 #
2023/2107(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Welcomes the progress made since the EU-Japan Summit 2023 on SPS import procedures, especially on the project for mutual recognition of zoning in the area of animal health;
Amendment 25 #
2023/2107(INI)
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5c. Calls on both parties to enhance regulatory cooperation in the fields of green technologies, notably on offshore wind power and renewable hydrogen, stepping up joint work on the energy and green transitions under the EU-Japan Green Alliance; welcomes the signature of a memorandum of cooperation on hydrogen to help establish a rules-based and transparent global hydrogen market;
Amendment 27 #
2023/2107(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Welcomes the negotiations on data flows under the EPA provided that these provisions will properly protectUnderlines the need to complete the EPA with provisions ensuring the free flow of data; welcomes the negotiations on data flows under the EPA and calls on both parties to agree on modern digital trade rules that preserve the high level of personal data and privacy protection in the EU;
Amendment 30 #
2023/2107(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Welcomes the launch of the EU- Japan digital partnership to advance cooperation on digital issues; welcomes, in this regard, the conclusion of the digital trade principles and the signature of the memorandum of cooperation on semiconductors, promoting a human-centric digital transformation based on democratic principles; welcomes, in this regard, the conclusion of the digital trade principles, covering data governance, digital trade facilitation as well as consumer and business trust, and the signature of the memorandum of cooperation on semiconductors, which namely foresees an early warning mechanism of critical disruptions in the semiconductors supply chain;
Amendment 33 #
2023/2107(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Stresses that the EU has a new approach to trade and sustainable development, which includes the possibility of sanctions as a last resort in cases of serious violations of the Paris Agreement and the core International Labour Organization (ILO) standards; believes that the Economic Partnership Agreement should be a ‘living agreement’ and calls on both parties to find ways to implement a number of innovative sustainable elements into the trade agreement;
Amendment 35 #
2023/2107(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Welcomes the Japanese ratification of the fundamental ILO convention on the Abolition of Forced Labour (No. 105); encourages Japan to continue the works towards the ratification of the remaining ILO core convention on Discrimination in respect of Employment and Occupation(No. 111);
Amendment 37 #
2023/2107(INI)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Stresses the important role of civil society organisations and the domestic advisory groups in the monitoring and implementation of the agreement; asks Japan to develop ways of participation of civil society in the dialogue around the Trade and Sustainable Development provisions of the EPA; calls for closer cooperation between the EU and Japan domestic advisory groups and expects that their views on sustainability issues are taken into account in the government-to- government consultations provided in the agreement;
Amendment 38 #
2023/2107(INI)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Takes note that the negotiations for an agreement on the protection of investment are stalled and recalls the European Parliament resolution of June 2022 on the future of EU International Investment policy;
Amendment 39 #
2023/2107(INI)
Draft opinion
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Calls on both parties to continue to pursue a full and effective implementation of the EPA, strengthening the resilience of bilateral trade and investment relations and ensuring that citizens and businesses, especially SMEs, fully benefit from the opportunities that the agreement creates;
Amendment 40 #
2023/2107(INI)
Draft opinion
Paragraph 7 d (new)
Paragraph 7 d (new)
7d. Welcomes the decision of Japan to join the Multi-Party Interim Appeal Arbitration Arrangement, which is an alternative system open to all World Trade Organization (WTO) members for resolving WTO disputes, pending the restoration of a reformed WTO dispute settlement system;
Amendment 41 #
2023/2107(INI)
Draft opinion
Paragraph 7 e (new)
Paragraph 7 e (new)
7e. Asks the EU and Japan to explore the possibility of establishing a joint Trade and Technology Council, following the model existing between the EU and the USA; asks the Commission and Japan to explore ways of developing common strategies in economic security and technological cooperation; calls for further cooperation with Japan in the digital and green transitions, economic security, the resilience of global supply chains in strategic sectors, as well as in other relevant issues such as anti- coercion, export controls and investment screening, as the EU and Japan share common values and our strategic interests increasingly converge;
Amendment 1 #
2023/2078(INI)
Motion for a resolution
Citation 11 a (new)
Citation 11 a (new)
– having regard to the ECB Occasional Paper Series 'The Road to Paris: stress testing the transition towards a net-zero economy',
Amendment 2 #
2023/2078(INI)
Motion for a resolution
Citation 13 a (new)
Citation 13 a (new)
– having regard to the standards of the Basel Committee on Banking Supervision on the prudential treatment of crypto-asset exposures, of 16 December 2022,
Amendment 3 #
2023/2078(INI)
Motion for a resolution
Citation 14 a (new)
Citation 14 a (new)
– having regard to the ECB recommendation of 15 December 2020 on dividend distributions during the COVID- 19 pandemic,
Amendment 4 #
2023/2078(INI)
Motion for a resolution
Citation 14 b (new)
Citation 14 b (new)
– having regard to its resolution of 25 March 2021 on strengthening the international role of the euro,
Amendment 12 #
2023/2078(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism, needhas to be supplemencompleted by the creation of a European deposit insurance scheme (EDIS) in order to mitigate risk exposure of the financial sector;
Amendment 18 #
2023/2078(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas an agreement was reached in 2020 on the creation of a backstop for the Single Resolution Fund (SRF), but has still not been implemented;
Amendment 24 #
2023/2078(INI)
Motion for a resolution
Recital B
Recital B
B. whereas a completed BU would improve the competitiveness and stability of the banking sector and consumer choice and facilitate access to financing whilst ensuring that public funds are not used to bail out the banking sector;
Amendment 26 #
2023/2078(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas a decade and a half after the financial crisis, banks are still ‘too big to fail’ and ‘too interconnected’ to fail;
Amendment 29 #
2023/2078(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas climate change, environmental degradation and the transition to a low-carbon economy are factors to be taken into account when assessing the sustainability of banks’ balance sheets, as a source of risk potentially impacting investments across regions and sectors;
Amendment 41 #
2023/2078(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas consumers of banking services should be better protected by granting them access to transparent fee structures, fair lending practices, and enhanced customer data protection;
Amendment 42 #
2023/2078(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas the rise in interest rates has positively impacted the profit margins of banks but had also lead to a deterioration of the balance sheet of certain banks due to unrealised capital losses;
Amendment 53 #
2023/2078(INI)
Motion for a resolution
Recital H
Recital H
H. whereas EU legislators negotiated rules tothe EU should ensure timely, full and faithful implementation of Basel III standards in a way that preserves banks’ competitiveness and takes into account the specificities of the EU banking sector;
Amendment 64 #
2023/2078(INI)
Motion for a resolution
Recital I
Recital I
I. whereas risks stemming from interest rate hikes have been properly addressedhad a negative impact on the borrowing capacity of households and the capacity of borrowers to repay debt;
Amendment 65 #
2023/2078(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
I a. whereas the completion of the Capital Markets Union (CMU) requires the establishment of common rules and effective tools to reduce internal market fragmentation and facilitate access to alternative financing;
Amendment 87 #
2023/2078(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Highlights that the Banking Union remains an essential complement to the Economic and Monetary Union (EMU) and therefore the internal market;
Amendment 101 #
2023/2078(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Encourages the use of profits to build buffers, thus safeguarding the stability of the financial system; notes that the temporary suspension of dividend distribution and share buy back was effective in safeguarding banks’ resilience during the COVID-19 crisis; calls for the introduction of a binding limitation of dividend distribution and buy back in times of crisis;
Amendment 102 #
2023/2078(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 110 #
2023/2078(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Recalls the IMF's World Financial Stability Report published in April 2023, which identifies three possible sources of risk to the financial sector: these include the interconnection of Non- Bank Financial Institutions (NBFI) with banks, the functioning of NBFI themselves, through a mismatch of liquidity, and the risk of incurring losses greater than anticipated; emphasises that the latter point accelerated the bankruptcy of Silicon Valley Bank; notes that the interconnection of NBFI with banks increases the risk of transferring difficulties from one to the other, ultimately limiting the financing capacity for the real economy, potentially causing a significant slowdown;
Amendment 116 #
2023/2078(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Reminds that banks do not sufficiently take into account the systemic risk posed by climate change; reminds that the collapse in fossil fuels asset values could cause a crisis of an even bigger magnitude than the subprime crisis; therefore supports an update of the Capital Requirements Regulation to apply a risk weight of 1250% to new fossil fuel exposures, ensuring that such investments are fully equity-funded;
Amendment 119 #
2023/2078(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7 b. Warns that high exposures to fossil fuels will become a risk for companies, with those fossil fuel assets becoming stranded assets; underlines that in order to fight this new systemic risk fossil fuel assets should be treated as ’higher risk’ assets and assigned a risk weight of 150% in line with the Basel framework;
Amendment 122 #
2023/2078(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Restates the importance of a European safe asset in the euro area as a way to help stabilise financial markets and allow banks to reduce the exposure of their balance sheets to national sovereign debt; considers that NextGeneration EU provides high-quality, low-risk European assets, allowing for a rebalancing of sovereign bonds on banks’ balance sheets; highlights the importance of preserving the availability of safe assets in a permanent manner;
Amendment 143 #
2023/2078(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Highlights that the limited impact of the recent failure of midsized US banks proves the resilience of the EU banking sector; underlines that EU supervisors efficiently addressed risks arising from changes in the interest rate landscape; calls on supervisors to continue assessing exposures to further interest rate hikes; recalls that the ECB's 'Financial Stability Review 2023' emphasises the importance of taking into account the deterioration of bank balance sheets associated with the increase in interest rates and emphasises that macroprudential authorities will need to gradually strengthen capital and/or borrower-related measures; and underscores the need for continued work to enhance the regulatory framework for banks;
Amendment 146 #
2023/2078(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Acknowledges the progresses made over the last 15 years through the establishement of the Single Supervisory Mechanism (SSM) and Single Resolution Mechanism (SRM) ; calls for the total completion of the Banking Union, particularly through the setting up of a fully-fledged European Deposit Insurance Scheme (EDIS);
Amendment 150 #
2023/2078(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Recalls the need, as expressed by the chair of the European Union’s Single Resolution Board, to fully and entirely respect the write-down hierarchy in case of bank failure;
Amendment 151 #
2023/2078(INI)
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13 b. Recalls that the President of the ECB, Christine Lagarde, during her hearing on 20 March 2023 in the ECON Committee demanded the full application of Basel III in terms of bank capital requirements;
Amendment 153 #
2023/2078(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. WelcomesTakes note of the agreement reached at interinstitutional level to implement Basel III standards in the EU; highlights that the framework will not increase prudential requirements for banks or damage their competitivenese concerns expressed by the EBA and the ECB that many deviations from the international agreement have been introduced in the final text of the regulation; recalls that EU banks’ specificities were already taken into account in the calibration of Basel capital requirements; notes that the implementation of the Basel standards to crypto-assets is still pending;
Amendment 180 #
2023/2078(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
Amendment 189 #
2023/2078(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments and for the scope of State aid to be limited; considers that financial stability is better preserved if small and medium-size banks with a positive public interest assessment have access to the EU-level resolution framework;
Amendment 190 #
2023/2078(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments and for the scope of State aid to be limited; recalls that the CMDI framework must not preclude the establishment of EDIS;
Amendment 193 #
2023/2078(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20 a. Stresses that financial institutions benefitting from direct State aid measures must refrain from dividend distribution, share buybacks and variable remuneration payments; calls for this temporary limitation to be established in a legally binding form;
Amendment 209 #
2023/2078(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Welcomes the Commission’s efforts to clarify the scope of depositor protection and increase convergence through a reform of 2014/49/EU on deposit guarantee schemes3 ; warns that the CMDI review cannot be considered a replacement for EDIS; considers that this review should pave the way toward the establishment of EDIS; _________________ 3 OJ L 173, 12.6.2014, p. 149.
Amendment 214 #
2023/2078(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Underlines the need for risk-based contributions to EDISa fully-fledged EDIS that enables loss absorption; calls for institutional protection schemes to be taken into account, while preserving the level playing field within the Single Market; calls for an assessment of bank asset quality; recommends starting with the pooling of liquidity and a gradual build-up of funds;
Amendment 221 #
2023/2078(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Notes that effective risk reduction is key for EDISWelcomes the significant progress in risk reduction; regrets, on the other hand, the limited progress regarding risk sharing; reminds the analysis of the SSM, stating that ‘the implementation of EDIS should not be linked to further risk reduction benchmarks’; highlights that the CMDI review provides co-legislators with an opportunity to resume negotiations on EDIS;
Amendment 24 #
2023/2072(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls the European Commission and the Member States to deliver on open strategic autonomy to regain lost ground in all those fields where China's dominant position creates a risk of overdependance to the EU.
Amendment 26 #
2023/2072(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Calls on the European Commission and the Member States to conduct a process to increase the harmonization of the regulations on screening and control of foreign investments, and to fully implement the Foreign Direct Investment screening mechanism . Likewise, the Commission and the Member States must pay attention to investments by third countries, which could carry an indirect control position by China, through ownership or relevant participation in companies from those third countries.
Amendment 30 #
2023/2072(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Is concerned about China’s assertive geopolitical and economic rise that has a considerable impact on the global economic and political developments particularly of the Global South, through its Belt and Road Initiative; calls on the Commission and the Member States to screen with a particular attention China’s acquisitions of critical infrastructures in the Western Balkans and in the EU neighbourhood countries; calls on China to increase transparency on Belt and Road Initiatives (BRI) projects, given that many BRI loans that have underperformed and became not financially viable.
Amendment 43 #
2023/2072(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Urges the Commission and the Member States to secure the main use of EU infrastructures is preserved and protected, to allow the normal development of EU economic activity and trade, notably transport (ports, airports, train, and roads) energy and telecommunication infrastructures. Calls on the Commission to periodically report to the European Parliament on: a) the detection of possible dual use of strategic infrastructures that provide logistical and intelligence support to China; b) the full respect of EU trade legislation, especially due diligence, anti coercion and forced labour of goods entering the EU markets.
Amendment 47 #
2023/2072(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Calls on the European Commission in coordination with the Member States, to design a rapid mechanism of response, in case of detection of dual use, or misuse, of the infrastructures in the EU, which are under property, participation or concession to China, that could lead to the cancellation of the rights of concession, and/or the suspension of the capacity of domain in the cases or property and participation.
Amendment 49 #
2023/2072(INI)
Draft opinion
Paragraph 6 d (new)
Paragraph 6 d (new)
6d. Calls on the European Commission and China to explore coordinated ways to boost trade and investment, looking to better adaptation of China to EU legislation and to the international and multilateral trade provisions.
Amendment 50 #
2023/2072(INI)
Draft opinion
Paragraph 6 e (new)
Paragraph 6 e (new)
6e. Calls on the Commission to fully put in force the recently developed legislation and mechanisms to address the unbalanced trade relationship and mitigate EU vulnerabilities, such as the screening of Foreign Direct Investment, the review of Trade Defence Instruments, the International Procurement Instrument, the EU Foreign Subsidies Regulation, the export controls, the anti- coertion instrument the Critical Raw materials proposal, the Net Zero Industries Act, and the European Economic Security Strategy. Calls on China to cooperate to level the playing field limiting the assistance and the intervention in Chinese companies and removing the restrictions of European companies’ access.
Amendment 58 #
2023/2072(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Calls on the Commission and the Member States to strengthen the EU strategic autonomy notably by building diversified, secure and resilient supply chains and by increasing its actions in key areas such as research and development, cutting-edged technologies, critical raw materials, reindustrialisation and new infrastructures.
Amendment 61 #
2023/2072(INI)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Calls on the Commission to design actions to reduce the risks for EU own security and to develop internal resilience, strenghthening the security and integrity of its critical infrastructures, the supply chains and the technology base, notably the 5G and 6G networks, all of them essential for our normal economic activity and trade; calls the Commission and the Member States to review their networks security toolbox.
Amendment 63 #
2023/2072(INI)
Draft opinion
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Calls on the Commission, the EU institutions and the Member States to terminate any research funding to Chinese companies active in the areas of critical and strategic importance for the EU, such as ICT, and to channel risks related to contracting operators using Chinese equipment.
Amendment 64 #
2023/2072(INI)
Draft opinion
Paragraph 7 d (new)
Paragraph 7 d (new)
7d. Calls on China to put in place and implement a responsible digital governance, with respect for privacy rights, freedom of expression and the rule of law in its digital governance policies, in the framework of WTO and multilateral standards; calls on the Commission to assess other areas under risk such as the semiconductors, quantum computing, blockchains, space, AI or biotechnologies, and consider legislation or tools for further protection against malicious software and cyber espionage.
Amendment 65 #
2023/2072(INI)
Draft opinion
Paragraph 7 e (new)
Paragraph 7 e (new)
7e. Requires the Commission to share with the European Parliament, before the end of this parliamentary term, a detailed analysis of the risks for EU trade, regarding the semiconductors, quantum computing, blockchain, space, AI or biotechnologies and the possible need of EU action in these fields.
Amendment 6 #
2023/2065(INI)
Motion for a resolution
Recital A
Recital A
A. whereas geopolitical changes have led to Africa’s repositioning and the countries of the Global South having a more self-determined role on the world stage; , advancing their own interests and contributions;
Amendment 11 #
2023/2065(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas the Post-Cotonou Agreement will become the new overarching framework for all the Economic Partnership Agreements, including the one with SADC, as well as a key reference for future reviews of these agreements;
Amendment 28 #
2023/2065(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the first review process launched in November 2021 after the EPA had been provisionally applied since 2016 and expects it to be able to demonstrate the link between the EPA and sustainable developmenteconomic and human development; calls on the Commission to work with the SADC partners to advance fair, inclusive and sustainable trade;
Amendment 39 #
2023/2065(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Welcomes the fact that trade relations between the EU and the SADC EPA States have expanded significantly with the SADC EPA States being able to achieve a trade surplus; considers that this demonstrates the EPA’s positive contribution to economic development; notes that, with the exception of South Africa, the bulk of SADC EPA States’ SADC EPA States mainly export precious stones, mineral products and agricultural products, such as fruits and vegetables, to the EU; notes that South Africa’s exports to the EU involve unprocesare more diversed agricultural products and raw materialnd include higher added-value goods;
Amendment 44 #
Amendment 45 #
2023/2065(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. NRecalls that the SADC EPA aims to promote regional integration and that the agreement should be a building block for the African Continental Free Trade Area launched in 2021; notes that regional integration is champerllenged by long waiting times at border crossings, high border costs and inadequate cross-border connectivity; calls on the Commission and the SADC EPA States to increase cooperation in digital trade and certification; stresses the importance of prioritising regional transport and infrastructure projects in the region, including under the Global Gateway, to deepen regional integration and increase intra-trade flows;
Amendment 52 #
2023/2065(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. NotWelcomes that no agreement has yet been reached on diagonal cumulation, since June 2023, regional cumulation between the Southern African Customs Union (SACU) States has been activated, allowing them to export products to the EU with inputs from other ACP EPA States (Madagascar, Mauritius, Seychelles, Zimbabwe, Cameroon and Papua New Guinea); recalls that the introduction of flexible rules of origin is essential for achieving regional integration objectives; stresses that rules of origin must promote the objectives of the African Continental Free Trade Area;
Amendment 66 #
2023/2065(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. ConcludeHighlights that the EPA has not succeeded in deepeningshould strengthen the diversification of exports and regional value-added chains in and between SADC EPA States to any significant extent; does not consider the EPA to have substantially contributed to the promotion of food sovereignty and poverty reduction in the SADC EPA States, as well as create more resilient supply chains that can adapt to future disruptions for the socio-economic development of the SADC;
Amendment 92 #
2023/2065(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Considers that there is an urgent need to increase sustainable investment in the SADC region and expects investment areas to be identified that appear particularly suitable for investment partnerships between the EU and the SADC EPA States; calls for a better coordinated Team Europe approach in identifying and implementing suitable measures to increase investment; welcomes the conclusion of the EU-Angola Sustainable Investment Facilitation Agreement, which should help attract and expand sustainable investments in Angola, as well as foster economic diversification while integrating environment and labour rights commitments;
Amendment 120 #
2023/2065(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Notes that the initial EU policy in connection with the demand bye original proposal of , inter alia, India and South Africa for the removal of patent protection for COVID vaccines has led to considerable disagreement with South Africa; stresses that this form of cooperation does not meet the requirements of an equal partnership; calls for the EU and its Member States to work towardadvance the discussions ain agreement to extend the waiver tothe WTO on the extension of the MC12 TRIPS decision to COVID therapeutics and diagnostics;
Amendment 9 #
2023/2064(INI)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
Amendment 10 #
2023/2064(INI)
Motion for a resolution
Citation 10 a (new)
Citation 10 a (new)
– having regard to the European Parliament resolution of 19 May 2022 on the social and economic consequences for the EU of the Russian war in Ukraine – reinforcing the EU’s capacity to act (2022/2653(RSP)),
Amendment 11 #
2023/2064(INI)
Motion for a resolution
Citation 10 b (new)
Citation 10 b (new)
– having regard to the Paris Agreement adopted under the UN Framework Convention on Climate Change,
Amendment 12 #
2023/2064(INI)
– having regard to the European Pillar of Social Rights,
Amendment 14 #
2023/2064(INI)
Motion for a resolution
Recital A
Recital A
A. whereas, according to the June 2023 Eurosystem staff macroeconomic projections, the growth of the euro area economy is expected to slow down from 3.5 % in 2022 to 0.9 % in 2023, before rebounding to 1.5 % in 2024 ; whereas, according to a Eurostat flash estimate, the euro area grew by just 0.6 % in 2023; whereas this represents the worst performance since the recession of 2020;
Amendment 20 #
2023/2064(INI)
Motion for a resolution
Recital B
Recital B
B. whereas, according to the June 2023 Eurosystem staff macroeconomic projections for the euro area, headline inflation is expected to average 5.4 % in 2023, 3.0 % in 2024 and 2.2 % in 2025, despite falling energy prices and easing supply bottlenecks; whereas core inflation has been more persistent, with an inhile decreaseing to 5.54.3 % in JuneSeptember 2023, and is projected to overtake headline inflation in the near term and to remain above it until early 2024, mainly owing to strong wage growth;
Amendment 29 #
2023/2064(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the ECB is politically independent, which means that neither from EU institutions and agencies norand Member State governments should seek to influence it;
Amendment 31 #
2023/2064(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas central bank independence is not without democratic accountability, namely to the European Parliament as the sole democratically- legitimised institution representing European citizens, particularly but not exclusively when it comes to the appointment of officials to the ECB’s highest bodies; whereas legal and political accountability is the necessary counterpart for the legitimacy, independence and transparency of the ECB’s supervisory decisions;
Amendment 34 #
2023/2064(INI)
Motion for a resolution
Recital E
Recital E
E. whereas the ECB’s primary objective isand secondary objectives are, respectively, to maintain price stability, which it has defined as 2 % inflation over the medium term, and to support the general economic policies in the Union, which include full employment, social progress and environmental protection; whereas the ECB’s mandate, as defined by its objectives, is laid down in Article 127 TFEU and thus legally binding;
Amendment 49 #
2023/2064(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the role of the ECB in safeguarding euro stability; underlines that the statutory independence of the ECB, as laid down in the Treaties, is a prerequisite for it to fulfil its mandate of maintaining price stability, and that its concomitant accountability is important in the fulfilment of its primary and secondary mandates;
Amendment 56 #
2023/2064(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Underlines that price stability is a prerequisite for the ECB to deliver on its mandate to support the EU’s general economic policies, such as the green and digital transitions; stresses that price stability is essential for attracting long term investments; emphasizes that, by the same token, the ECB must take account of environmental, social and economic sustainability goals in line with its secondary mandate;
Amendment 64 #
2023/2064(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Fears that, without properly delivering on its mandate of maintaining price stability, the ECB risks losing its legitimacycredibility; is worried that said potential loss of credibility may be aggravated by a loss of democratic control;
Amendment 71 #
2023/2064(INI)
4. Is deeply worried about the persistently high inflation rates, especially core inflation rates, and their detrimental impact on competitiveness, investments, job creation and the purchasing power of consumers; recalls that quantitative inflation targets are to be met over a medium-term horizon; calls, therefore, on the ECB to reflect on and guide its decision-making process in relation to the size and speed of increases in interest rates in line with a medium-term orientation; underlines the need for the ECB to provide information in regards to the monitoring and setting of the neutral interest rate;
Amendment 73 #
2023/2064(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Notes with concern the mounting sovereign debt distress driven by the unrelenting rise of interest rates in the euro area, which may significantly constrict future public investments and economic growth; reflects upon the IMF’s 2023 World Economic Outlook findings suggesting that high inflation, while playing a role in reducing debt ratios, is not a desirable policy tool to the extent that it can lead to losses on the balance sheets of sovereign debt holders and damage the credibility of central banks; calls on the ECB to closely monitor the EU central banks’ secondary market purchases of debt instruments;
Amendment 77 #
2023/2064(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Expresses concern about the high levels of debt and government deficits within the Member States and the risks that this entails; notes that the situation is worse urges a swift outcome of the Commission’s legislative proposals on revising the euro area EU’s economic governance rules, which seek to strengthaen in non-euro area Member States; looks forward to the outcome of the Commission’s legislative proposals on revising the EU’s economic governance rules and welcomes the ECB’s opinion in this regardpublic debt sustainability and foresee the permanent mobilisation of resources for investments and financing of European structural and social policies, and welcomes the ECB’s opinion in this regard; recalls that said revision of the current economic governance framework must provide the EU with stable, transparent, reasonable and flexible rules that could be implemented and respected by all Member States with the due democratic accountability;
Amendment 84 #
2023/2064(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. RegretDenounces Russia’s unprovoked invasion and ongoing aggression against Ukraine; agrees with member of the Executive Board Isabel Schnabel on the risk the war entails in terms of negative supply side shocks; is deeply concerned about its enduring, unpredictable and severe repercussions for the European economy and society, particularly for the most exposed and vulnerable groups, such as lower-income households and SMEs;
Amendment 93 #
2023/2064(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Highlights that not only do persistent high levels of inflation, the ongoing war in Ukraine and high levels of debt in the Member States threaten the competitiveness of the European economy, and thus the international role of the euro as well, but also the upward price pressure following the implementation of the European Green Deal, the rise of fragmentation and protectionism in global trade, and an impending subsidy race between states;
Amendment 97 #
2023/2064(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Calls on the ECB to look into the strengthening of the international role of the euro with a view of raising its attractiveness as a reserve currency; recalls that the creation of a well-designed European safe asset could facilitate financial integration and help mitigate negative feedback loops between sovereigns and domestic banking sectors; stresses the need for deepening and completing the Economic and Monetary Union as a pre-requisite for a strong international euro; underlines the importance that co-legislators remain in charge throughout the design of the digital euro;
Amendment 101 #
2023/2064(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Echoes President Lagarde’s warning that fiscal support should be targeted and limited and should not hinder the task of monetary policy; points out thatnotes, nevertheless, the limited influence of traditional monetary policy tools in tackling inflation that is mainly supply- driven; highlights the consequent need for a closer coordination between fiscal, budgetary, monetary and structural policies as a means to maintain price stability and support the most exposed and vulnerable groups; commends the efforts that Member States' governments, as well as the Commission, canundertake to support citizens and industries not only through fiscal measures, but also by focusing on growth-enhancing reforms; prompts the ECB to respond to the ongoing crisis and tackle its social, economic and financial impacts with bold and forward-looking solutions on monetary policy that are conducive to sustainable and inclusive growth, along with broader coordination with fiscal policy at EU and national levels;
Amendment 107 #
2023/2064(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Notes that according to the most recent economic forecast, the Euro Area economy is expected to growth much less than what was predicted last spring, while there is a certain inertia in the price level; emphasizes that, as a consequence, the so- called “sacrifice ratio” to bring inflation back to 2% is becoming higher than the it was expected some time ago; recognizes that inflation is a painful and harmful phenomenon, and that ECB is using every tools at its disposal to cope with that; underlines, however, that social tensions, economic crisis and political instability are also equally dangerous for the future of the Union; warns that inflation, social, economic and political tensions might feed each other and could create a dangerous spiral; calls for a proper assessment on how to make the fight against inflation economically, socially and politically sustainable, and therefore possible.
Amendment 109 #
2023/2064(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Emphasises the ineptness of conventional monetary policy alone in achieving price stability, sustainable growth and financial resilience, especially in consideration of the limited influence of monetary policy tools in tackling inflation that is mainly supply-driven; highlights the key role of supportive and discretionary fiscal policy and socially balanced and productivity-enhancing reforms and investments in this regard; calls for closer and more strategic coordination between fiscal, monetary and structural policies;
Amendment 111 #
2023/2064(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the ECB’sPresident Lagarde’s statement that the current geopolitical crisis requires us to progress on EU fiscal integration; welcomes the ECB’s long- standing support for a well thought out completion of the bEconomic and Monetary Union, the Banking uUnion and the c, namely with the establishment of a fully- fledged European Deposit Insurance Scheme, and the Capital mMarkets uUnion; recalls that this would contribute to a larger spread of risks within and the enhanced financial stability of the monetary union, as well as it would further strengthen the international role of the euro and amplify its attractiveness as a reserve currency;
Amendment 116 #
2023/2064(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Welcomes the ongoing work by the ECB on the digital euro; encourages the governing board to continue into the ‘realisation’ phase; looks forward to the ECB opinion on the digital euro legislative package.
Amendment 120 #
2023/2064(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that headline inflation has come down from 8.4 % in 2022 to 5.4 % in 2023, mainly driven by lower energy prices and the easing of supply bottlenecks; observes, however, that inflation remains well above the target level of 2 %; is concerned about second-round effects and implications for growth and employment, as well as the extraordinary burden placed on lower-income strata;
Amendment 127 #
2023/2064(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Expresses its uneasiness with the persistently high rate of core inflation; understands that wage growth is expected to remain more than double its historical average, driven by inflation compensation and the tight labour market; encourages the ECB, furthermore, to look into and report on the inflationary effect of the green transition;
Amendment 141 #
2023/2064(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Fully supports President Lagarde’s statement on fighting inflation for as long as necessary; applauds President Lagarde’s plea for humility and to regularly update the ECB’s models; invites the ECB, however, to fundamentally review its models and their role in its policymaking, while emphasising that monetary policy normalisation cannot be achieved at any cost and by itself, but rather by converging towards a closer coordination between fiscal, monetary and structural policies; applauds President Lagarde’s plea for humility and to regularly update the ECB’s models; invites the ECB, however, to fundamentally review its models and their role in its policymaking, taking into account the lessons learned from the ongoing and previous crises and the challenges posed to monetary policy-making, especially when disruptive supply-side driven inflation is concerned;
Amendment 150 #
2023/2064(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Trusts that the ECB will deliver on its mandate to safeguard price stability; notes that real interest rates are still negative; is deeply concerned about the implications of increasingly higher interest rates for strategic and sustainable investments; calls on the ECB to ponder the feasibility of applying differentiated rates to tilt investment patterns away from brown technology and support investments that contribute most to reducing inflationary pressures such as those in energy efficiency and renewables;
Amendment 155 #
2023/2064(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Notes the inflation target level of 2 % in the medium term; observes that inflation has, thus far, either been well below or far above this target level; questions the scientific evidence for this 2 % target level, as well as the meaning of ‘medium term’; invitesalso takes note that inflation is on a downward trend, nearing the ECB's medium-term objective; reflects on the commitment to symmetry, if price stability is best maintained by aiming at this 2 % target level; calls on the ECB to look into a more qualitative approach to price stability;
Amendment 165 #
2023/2064(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Supports the ECB’s decision to scale back its asset-purchasing programmes, in view of the excess liquidity in the market; notwelcomes the ECB’s announcement to decarbonise its corporate bond holdings by ‘tilting’ its portfolio; stresses the importance of the quality of the collateral;
Amendment 192 #
2023/2064(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Underlines that climate change and extreme weather phenomena could lead to greater variability in prices, especially in the agri-food sector; notes that sudden tightening conditions on the supply side might become very frequent, leading to new inflationary episodes in the coming years; emphasizes that this is an issue that evidently poses serious difficulties for the ECB, which have adequate tools to stabilize demand-driven inflation, but can do little when price instability is mainly due to variations in supply conditions; expresses concern that the Union do not have a proper toolkit to deal with such episodes.
Amendment 209 #
2023/2064(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Takes note ofWelcomes the ECB’s progress on the digital euro project and welcomes its dialogue with Parliament in this regard; reiterates that a digital euro must respect competition in the banking landscape, must not endanger the existence or use of cash and must respect the privacy and security of citizens and businesses;
Amendment 212 #
2023/2064(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Shares the ECB’s concern regarding the rise of the shadow banking sector and the risk it may pose to financial stability; calls on the ECB to step up its monitoring of the development of crypto- currencies and of the related risks and emerging threats in terms of cybersecurity, money laundering, terrorism financing and other criminal activities; stresses the need for adequate regulation in this field;
Amendment 218 #
2023/2064(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
Amendment 220 #
2023/2064(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Evokes the crucial role of the ECB in supporting the implementation of the European Pillar of Social Rights as the beacon of equality and social justice guiding the EU towards greater socio- economic convergence;
Amendment 222 #
2023/2064(INI)
Motion for a resolution
Paragraph 21 b (new)
Paragraph 21 b (new)
21b. Points out that bank balances are exposed to major climate risks; urges double materiality assessment of banks and high capital requirements on fossil fuel investments; calls upon the ECB to address the market failure of inadequate pricing of externalities in assets prices.
Amendment 223 #
2023/2064(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Acknowledges the ECB’s openness and availability to Parliament; welcomes the formalisation, in writing, of the current accountability practices between the ECB and Parliamenthighlights, nevertheless, the need to further enhance the ECB’s accountability and transparency arrangements in light of the magnitude of the responsibilities assumed by the ECB in the recent years and amidst the ongoing economic and financial crisis; calls for the formalisation, in writing, of the current accountability practices between the ECB and Parliament; endorses, to this end, the relaunch of negotiations on a formal Inter- Institutional agreement as a means to re- anchor the ECB’s credibility and reinforce the standing accountability mechanisms;
Amendment 224 #
2023/2064(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Calls for the enhancement of the ECB’s internal whistleblowing framework;
Amendment 225 #
2023/2064(INI)
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
22b. Calls for the ECB to create an internal evaluation office for ex post assessment of its policy decisions;
Amendment 226 #
2023/2064(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Welcomes the ECB’s substantial and detailed feedback on Parliament’s resolution on the 2021 ECB annual report; calls on the ECB to maintain this commitment to accountability and transparency, and to continue publishing its written feedback on Parliament’s resolutions on the ECB annual reports every year;
Amendment 232 #
2023/2064(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Welcomes the ECB’s new communications policy, which includes more accessible ways to explain and present ECB policy decisions to citizens and stakeholders; encourages the reinforcement of the ECB’s communication about central bank policy objectives and crisis responses in order to stabilise euro area inflation expectations and allow families and business to better manage the higher interest rates environment stimulated by the substantial tightening of monetary policy;
Amendment 233 #
2023/2064(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Notes the recent appointment of the new Chair of the Supervisory Board and calls on the ECB to take better account of the position of the European Parliament’s Committee on Economic and Monetary Affairs on such appointments in the future;
Amendment 1 #
2023/2059(INI)
Draft opinion
Recital A
Recital A
A. whereas European ports are a key artery for EU and global trade, with 74 % of goods entering or leaving the EU by sea; whereas, in addition to its strategic function, ports are taking up an increasingly important role as the anchor of social and economic growth of the regions as well as in the supply, production, provision and storage of energy, and greening of transport and industry;
Amendment 9 #
2023/2059(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Stresses that geopolitical tension and supply chain disruption, alongside Russia’s war of aggression against Ukraine, represent significant challenges for the efficient operation ofduring the pandemic, ports have played a crucial role in ensuring the continuance of emergency supply chains; highlights that also in the new geopolitical context, alongside Russia’s war of aggression against Ukraine, the essential role of ports in keeping supply chains operational and setting up new alternative routes, including humanitarian lanes and solidarity lanes for Ukrainian exports, is again coming to the forefront; further underlines that European ports are pivotal in safeguarding energy supplies and in reducing energy dependency from Russia and will remain instrumental in repowering Europe in the short term, by enhancing the setting up of alternative routes for the provision of gas and increasing gas storage; in parallel, stresses that ports are and will be key in reinforcing efforts to prepare for a fossil- free energy landscape in Europe an ports; d will play an important role in the greening of transport, industry and energy generation;
Amendment 17 #
2023/2059(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Highlights that an open, fair, sustainable and assertive EU trade policy, coupled with ambitious trade agreements, would strengthen the competitiveness and resilience of European portsare key for the competitiveness and resilience of European ports and for Europe’s growth and prosperity; recognises that Europe’s maritime manufacturing capabilities are essential to the Union's maritime strategic autonomy, innovation and sustainable growth as well as to the EU's ambitions to lead the twin green and digital transitions; believes that the EU Regulation on Foreign Subsidies and autonomous tools are essential to preserve and foster the European maritime industrial base;
Amendment 29 #
2023/2059(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Notes that the implementation of recent or pending EU legislation, including in the field of trade, will require investment and training for port operators and authorities; acknowledges that ports require significant investments to implement the obligations stemming from the Fit for 55 package and to be able to play their role in the green transition; underlines the importance of emerging technologies and digitalisation in European ports and the need to stimulate investment in the uptake of innovative solutions and support the digital transition in the port sector; recalls the importance of promoting sustainable investments in European ports, such as in electrification, hydrogen production, offshore wind energy, it will be key to boost ports' rail connections to TEN-T networks and to avoid botlenecks in these networks;
Amendment 53 #
2023/2059(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Considers that a well-functioning Customs Union is fundamental to the EU’s competitiveness, sustainability and resilience; believes that a reformed and strengthened Customs Union with a common customs code will preserve the integrity of the Single Market, helping to maintain EU competitiveness in the twin green and digital transitions and avoid unfair competition between European ports;
Amendment 56 #
2023/2059(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Believes that tackling ‘port shopping’, a practice undermining the integrity of the EU internal market whereby traders target certain ports for products to enter the Single Market, is key; notes that currently customs controls are largely based on automated and targeted risk management, and that Member States employ national systems with national data to do this; underlines the urgency to have in place harmonised customs controls in all European ports to avoid different application of sanitary or due diligence standards;
Amendment 67 #
2023/2059(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Emphasises the considerable role that the Global Gateway could play in strengthening the network of European ports with third countries, facilitating trade and expanding investment opportunities, hence creating mutually beneficial partnerships and promoting sustainable value chains; highlights in this regard the importance for the EU to step up its economic diplomacy.
Amendment 132 #
2023/0321(CNS)
Proposal for a directive
Recital 14 a (new)
Recital 14 a (new)
(14a) Considering that the BEFIT proposal would allow for cross-border loss relief between BEFIT group members, the Commission and the Member States should ensure the coherence and alignment with the OECD/G20 Model Rules and the Directive (EU) 2022/2523, notably concerning the calculation of the effective tax rate on a country-by-country basis, which could be undermined by the cross-border loss relief. This dimension should be assessed in the revision of the directive as foreseen in Article 77.
Amendment 236 #
2023/0321(CNS)
Proposal for a directive
Article 22 – paragraph 5 a (new)
Article 22 – paragraph 5 a (new)
5a. The Commission may adopt acts laying down temporary rules regarding accelerated depreciation for the cost of eligible assets and improvements to existing assets which qualifies as environmentally sustainable within the meaning of Regulation 2020/852 on the establishment of a framework to facilitate sustainable investment. Those delegated acts shall be adopted in accordance with the examination procedure referred to in Article 74 (2).
Amendment 370 #
2023/0321(CNS)
Proposal for a directive
Article 74 – paragraph 2
Article 74 – paragraph 2
2. The power to adopt delegated acts referred to in Articles 2(8) and 14(3, 14(3) and 22 (5a) shall be conferred on the Commission for an indeterminate period starting on [the date of entry into force of this Directive].
Amendment 124 #
2023/0177(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) It is important to lay down rules ensuring that ESG ratings provided by ESG rating providers authorised in the Union are of adequate quality, are subject to appropriate requirements and ensure market integrity. Those rules would apply to overall ESG ratings capturing Environmental, Social and Governance factors, and to ratings that are only looking at a single Environmental, Social or Governance factor or sub-component of that factorthese factors individually.
Amendment 134 #
2023/0177(COD)
Proposal for a regulation
Recital 21
Recital 21
(21) To ensure a higher-level transparency, ESG rating providers should disclose information to the public on the methodologies, models and key rating assumptions which those providers use in their ESG rating activities and in each of their ESG ratings product. In light of the uses of ESG ratings by investors, they should, to the greatest extent possible, take into account all relevant information, in each of the materiality dimensions, on sustainability matters falling within the scope of the rated entity’s activities. As a result, the rating products should explicitly disclose whicaddress both dimensions of the double materiality, the rating addresses, whether it is boat is, both the material financial risk to the rated entity and the material impact of the rated entity on the environment and society in general or whether it takes into account only one. On the one hand, an impact dimension pertains to the undertaking’s material actual or potential, positive or negative impacts on people or the environment over the short-, medium- and long-term. Impacts include those connected with the undertaking’s own operations and upstream and downstream value chain, including through its products and services, as well as through its business relationships, as defined in the delegated act supplementing Directive 2013/34/EU. On the other hand, a financial dimension should be considered if it triggers or could reasonably be expected to trigger material financial effects ofn them. They undertaking. This is the case when a sustainability matter generates or may generate risks or opportunities that have a material influence, or could reasonably be expected to have a material influence, on the undertaking's development, financial position, financial performance, cash flows, access to finance or cost of capital over the short-, medium- or long-term. ESG rating providers should also explicitly disclose whether the rating addresses other dimensions. For the same reason, ESG rating providers should provide more detailed information on the methodologies, models and key rating assumptions to subscribers of ESG ratings. That information should enable users of ESG ratings to perform their own due diligence when assessing whether to rely or not on those ESG ratings. Disclosure of information concerning models should however not reveal sensitive business information or impede innovation.
Amendment 250 #
2023/0177(COD)
Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 1 – introductory part
Article 9 – paragraph 2 – subparagraph 1 – introductory part
The Commission mayshall, where applicable, adopt an implementing decision stating that the legal framework and supervisory practice of a third country ensures that:
Amendment 254 #
2023/0177(COD)
Proposal for a regulation
Article 9 – paragraph 2 – subparagraph 2
Article 9 – paragraph 2 – subparagraph 2
For the purposes of point (a), the Commission shall take into account whether the legal framework and supervisory practice of a third country ensures compliance with the IOSCO recommendations for ESG Ratings published in November 2021 as well as with all Europan Union legislation relating to sustainability disclosure, including Regulation (EU) 2019/2088 of the European Parliament and of the Council, Regulation (EU) 2020/852 of the European Parliament and of the Council and Directive (EU) 2022/2464 of the European Parliament and of the Council.
Amendment 265 #
2023/0177(COD)
Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 2
Article 10 – paragraph 1 – subparagraph 2
For the purposes of point (b) of the first subparagraph, ESMA may consider that compliance of the provision of the ESG rating to be endorsed with the IOSCO recommendations for ESG ratings as well as with all Europan Union legislation relating to sustainability disclosure, including Regulation (EU) 2019/2088 of the European Parliament and of the Council, Regulation (EU) 2020/852 of the European Parliament and of the Council and Directive (EU) 2022/2464 of the European Parliament and of the Council is equivalent to compliance with the requirements of this Regulation.
Amendment 282 #
2023/0177(COD)
Proposal for a regulation
Article 11 – paragraph 2 – subparagraph 1
Article 11 – paragraph 2 – subparagraph 1
Third country ESG rating providers that wish to be recognised as referred to in paragraph 1 shall comply with the requirements established in this Regulation and apply for recognition to ESMA. ESG rating providers may fulfil that condition by applying the IOSCO recommendations on ESG ratings provided that such application is equivalent to compliance with the requirements established in this Regulation and, for the ESG rating of the undertakings in the scope of Directive 2013/34/EU of the European Parliament and of the Council, that it takes into account information of the rated entity’s activities on sustainability matters, as defined in Article 2, subparagraph b, point 17 of Directive 2013/34/EU of the European Parliament and of the Council, for each of the materiality dimensions.
Amendment 296 #
2023/0177(COD)
Proposal for a regulation
Article 14 – paragraph 7 a (new)
Article 14 – paragraph 7 a (new)
7a. ESG rating providers, when providing E, S and G ratings, either aggregated or separately, shall, to the greatest extent possible, take into account all material sustainability information, for each of the materiality dimensions.
Amendment 309 #
2023/0177(COD)
Proposal for a regulation
Article 15 – paragraph 1 – introductory part
Article 15 – paragraph 1 – introductory part
1. Any person directly or indirectly linked to the ESG rating providers by control shall not provide any of the following activities:
Amendment 418 #
2023/0177(COD)
Proposal for a regulation
Article 26 – paragraph 1
Article 26 – paragraph 1
In carrying out their duties under this Regulation, ESMA, the Commission or any public authorities of a Member State shall not interfere with the content of ESG ratings or methodologies, provided the latter two comply with the obligations laid down in this Regulation.
Amendment 453 #
2023/0177(COD)
Proposal for a regulation
Article 45 – paragraph 6
Article 45 – paragraph 6
6. A delegated act adopted pursuant to Articles 7, 9, 10, 11, 22, 33, 34 and 40 shall enter into force only if no objection has been expressed either by the European Parliament or by the Council within a period of two months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by [two months] at the initiative of the European Parliament or of the Council.
Amendment 454 #
2023/0177(COD)
Proposal for a regulation
Article 45 – paragraph 8 a (new)
Article 45 – paragraph 8 a (new)
Amendment 153 #
2023/0138(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) The involvement ofIn order to increase the democratic accountability of the fiscal governance framework, the effective involvement of the European Parliament is key as well as the structured involvement of national parliaments, local and regional authorities, social partners, civil society organisations and other relevant stakeholders in the European Semester is keyand in the economic governance process as a whole to ensure ownership and transparent and inclusive policy-making.
Amendment 158 #
2023/0138(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) The economic governance framework of the Union should be adapted to better take into account the growing heterogeneity and challenges of fiscal positions, and public debt challenges and other vulnerabilities acrossacross the Member States, national public investment gaps and needs to achieve the priorities of the Union, together with other vulnerabilities. The framework should also provide enough flexibility and be capable of quickly adapt to unexpected and structural shocks with asymmetric impact on Member States. The strong and coordinated policy response to the COVID-19 pandemic, supported by bold, innovative and common instruments at EU level, proved highly effective in mitigating the economic and social damage of the crisis, but tturning the EU economy more resilient and credible to financial markets. The crisis resulted in a significant increase in public- and private-sector debt ratios, underscoring the importance of reducing debt ratios to prudent levels in a gradual, sustained, and growth-friendly and inclusive manner and addressing macroeconomic imbalances, while paying due attention to employment and social objectives and upward social convergence. At the same time, the economic governance framework of the Union should be adapted, to helpprovide, with a level playing field, the necessary fiscal space - at EU and Member State level to address the medium- and long-term challenges facing the Union including achieving a fair digital and green transition, including the Climate Law22 , ensuring energy security, open strategic autonomy, addressing demographic change, strengthening social and economic resilience and implementing the strategic compass for security and defence, all of which requires reforms and sustained high levels of investment in the years to come. _________________ 22 The European Climate Law sets a Union-wide climate neutrality objective by 2050 and requires Union institutions and Member States to progress in enhancing adaptive capacity, requiring significant public investment to reduce the negative socio-economic impacts of climate change on the EU and its Member States, including negative impacts on growth and fiscal sustainabilitystrengthening social and economic resilience, including the implementation of the Pillar of Social Rights, ensuring energy security, open strategic autonomy, addressing demographic.
Amendment 171 #
2023/0138(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) The economic governance framework of the Union should put debt sustainability, investment and reforms, the common priorities of the Union and sustainable and inclusive growth at its core on equal footing and therefore differentiate between Member States by taking into account their public debt challenges and allowing country-specific fiscal trajectories, and ensure consistency among the Union as a whole, including the euro area.
Amendment 180 #
2023/0138(COD)
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6 a) To achieve the central objective of the reform of this framework - to strengthen public debt sustainability while promoting sustainable and inclusive growth in all Member States and respond fully to the sustained high levels of investment needed to finance EU public goods to address the current and future strategic priorities of the EU - , this framework would be better equipped, if supported by a central and permanent investment instrument. The lessons learned from the implementation of EU instruments, such as SURE or NextGenerationEU, could serve as constructive models for forthcoming investment and macroeconomic stabilisation mechanisms aimed at strengthening the fiscal governance framework.
Amendment 181 #
2023/0138(COD)
Proposal for a regulation
Recital 6 b (new)
Recital 6 b (new)
(6 b) In order to increase the legitimacy of the European semester, in order to account for the far-reaching consequences of measures adopted in the context of the European semester on the economic and fiscal course of action and the social fabric of the Member States and in order to ensure appropriate public scrutiny, the European semester should only be launched by a legislative act in the form of a decision on a proposal made by the Commission, based on Article 121(6) TFEU, and promptly adopted jointly by the European Parliament and the Council. In this decision, the European Parliament and the Council define, in the recitals, their benchmarks for the outcome of the European semester that is to be launched. The European Commission has to take due account of this decision and its recitals when adopting its communication on the Annual Sustainability Growth Survey. By the same token, the Commission takes due account of the Annual Sustainability Growth Survey, the Council’s conclusions and the European Parliament’s resolutions thereon when drafting the recommendations for the draft broad guidelines of the economic policies of the Member States and the Union pursuant to Article 121(2) TFEU and the proposal for the guidelines for employment pursuant to Article 148(2) TFEU. The European Parliament evaluates the Commission's role in the previous European semester against the benchmark of launching decision, the Annual Sustainability Growth Survey and the Parliament’s resolution thereon when adopting the decision to launch the subsequent European semester.
Amendment 183 #
2023/0138(COD)
Proposal for a regulation
Recital 6 d (new)
Recital 6 d (new)
(6 d) In order to promote upward social convergence, the multilateral surveillance procedure set out in Article 148(4) TFEU is complemented with an early warning system within the European Semester (Social Convergence Framework). Within the Social Convergence Framework, the Commission - pursuant to Article 148 TFEU - first identifies risks to upward convergence for Member States in the Joint Employment Report based on the Social Scoreboard headline indicators. In the second stage, the Commission identifies Member States requiring further examination and publishes the ‘Social Convergence Reports’ for those Member States identified as facing risks to upward social convergence. The country-specific conclusions of the multilateral surveillance activities under the new framework should provide input to the Commission’s reflection on CSR proposals.
Amendment 199 #
2023/0138(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Cohesion policy funds are also synchronised with the European Semester process. As the long-term investment policy of the EU budget, strengthening economic, social and territorial cohesion, cohesion policy investments and reforms should also be duly taken into account in the drawing of the national medium-term fiscal-structural plans. Each Member State should also explain how its national medium-term fiscal-structural plan will ensure consistency with the expenditure on EU programmes fully matched by EU funds revenue and the relevant national co- financing.
Amendment 217 #
2023/0138(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) To provide guidance to the Member States ininitiate the drafting of theirits national medium-term fiscal-structural plan, the Commission should put forward a technicaleach Member State, having a public debt above the 60% of GDP reference value or a government deficit above the 3% of GDP reference value, should put forward a proposal for a reference trajectory to the Commission. The trajectory should be based on the minimum fiscal adjustment that brings the debt trajectory of the Member State on a plausibly downward path leading to sustainable debt reduction or maintains debt at a prudent level. It should also ensure that the public debt ratio at the end of the planning horizon declines below its level in the year before the start of the technical trajectoryis reduced by at least [0,1] p.p of debt to GDP on average over the adjustment period plus 10 years. The sustainability of that debt reduction should result from appropriate fiscal policies.
Amendment 267 #
2023/0138(COD)
Proposal for a regulation
Recital 24 a (new)
Recital 24 a (new)
(24 a) Government budgets can be brought in line either by spending reductions or revenue increases. As such this regulation should be neutral in the way governments seek to reduce their levels of debt and deficit, and should not prioritise cuts in public expenditures over increases in tax revenue;
Amendment 272 #
2023/0138(COD)
Proposal for a regulation
Recital 26
Recital 26
(26) To inform enforcement actions, in particular a report under Article 126(3) TFEU, the Commission should set up a control account for each Member State to keep track of annual deviations of the net expenditure observed in the Member State from the net expenditure path set by the Council, summing those deviations over time. A Member State will be deemed not to be in compliance of its net expenditure path where the cumulated balance of the control account during the adjustment period is higher than [X% of GDP] in the years of positive GDP growth. It should be netted out from the control account, the years where Member States implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union, the years where Member States suffer exceptional circumstances outside its control that lead to a major impact on the public finances, the years where the structural primary balance remains above X% during the adjustment period.
Amendment 276 #
2023/0138(COD)
Proposal for a regulation
Recital 27
Recital 27
(27) Independent fiscal institutions have proven their capacity to foster fiscal discipline and strengthen the credibility of Member States’ public finances. In order to enhance national ownership, the role of independent fiscal institutions, traditionally mandated to monitor compliance with the national framework, should be expanded to the economic governance framework of the Union with an appropriate balance with the role of the European Parliament in order to increase the overall democratic accountability of the framework.
Amendment 312 #
2023/0138(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
It lays down detailed rules concerning the content, submission, assessment and monitoring of national medium-term fiscal- structural plans as part of multilateral budgetary surveillance by the Council and the Commission so as to promote debt sustainability, with involvement of the European Parliament, so as to promote debt sustainability, investments and reforms, common priorities of the Union, and sustainable and inclusive growth and upward social convergence in the Member States and prevent the occurrence of excessive government deficits, by medium- term planning ensuring consistency among the Union, including the euro area.
Amendment 318 #
2023/0138(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
(2) ‘net expenditure’ means government expenditure net of total tax revenues, interest expenditure, discretionary revenue measures and other budgetary variables outside the control of the government as set out in Annex II, point (a);
Amendment 403 #
2023/0138(COD)
Proposal for a regulation
Article 3 a (new)
Article 3 a (new)
Article3a Launching the European Semester 1. The European Semester is launched by a decision of the European Parliament and Council, on a proposal by the Commission, based on Article 121(6) of the Treaty on the Functioning of the European Union adopted in accordance with the ordinary legislative procedure. 2. Following the adoption of the decision pursuant to paragraph 1, the European Commission shall adopt a communication on the Annual Sustainability Growth Survey taking due account of the decision referred to in paragraph 1. 3. When drafting the recommendations for the draft broad guidelines of the economic policies of the Member States and the Union pursuant to Article 121(2) of the Treaty on the Functioning of the European Union and when drafting the proposal for the guidelines for employment pursuant to Article 148(2) of the Treaty on the Functioning of the European Union the European Commission shall take due account of Annual Sustainability Growth Survey referred to in paragraph 2.
Amendment 452 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point b
Article 6 – paragraph 1 – point b
(b) the government deficit is brought and maintained below, on average, the 3% of GDP reference value;
Amendment 460 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point c
Article 6 – paragraph 1 – point c
(c) the fiscal adjustment effort over the period of the national medium-term fiscal- structural plan is at least proportional to the total effort over the entire adjustment period; If a Member State plans to implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12, that year will be exempted from this rule, meaning that the year will be taken out of the proportionality calculations;
Amendment 471 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point d
Article 6 – paragraph 1 – point d
(d) the public debt ratio at the end of the planning horizon is below the public debt ratio in the year before the start of the technical trajectory; andis reduced by at least [0,1] p.p of debt to GDP on average over the adjustment period plus 10 years.
Amendment 483 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point d a (new)
Article 6 – paragraph 1 – point d a (new)
(d a) the plan has sufficient investments in climate change mitigation and climate change adaptation;
Amendment 495 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point e
Article 6 – paragraph 1 – point e
Amendment 504 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 a (new)
Article 6 – paragraph 1 a (new)
If a Member States deficit is above 3% while the public debt is below the 60% of GDP reference value, the rules in Article 6(1), points (c) and (d), shall not apply.
Amendment 534 #
2023/0138(COD)
Proposal for a regulation
Article 7 – paragraph 1 b (new)
Article 7 – paragraph 1 b (new)
1 b. Following the negotiations, in case of no agreement between the Member State and the Commission on the reference trajectory, the Council may recommend the Member State concerned that the technical trajectory proposed by the Commission be the net expenditure path of the Member State or request a new proposal.
Amendment 535 #
2023/0138(COD)
Proposal for a regulation
Article 7 – paragraph 1 c (new)
Article 7 – paragraph 1 c (new)
1 c. In case a Member State does not submit its proposal for a reference trajectory by [1 March] of the same year referred to in paragraph 1, the Commission shall put forward a reference trajectory meeting the requirements set out in Article 6 in its own motion.
Amendment 555 #
2023/0138(COD)
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
To assess plausibility and sustainability that the projected public debt ratio of the Member State concerned is on a downward path or remains at a prudent level, the Commission shall use thea methodology referred to in Annex V. The Commission shall make public its analysis of plausibility and the underlying data. based on the following conditions: (a) public debt ratio should be declining, or stay at prudent levels, under the deterministic scenarios of the Commission’s medium-term public debt projection framework based on the debt sustainability analysis methodology; (b) the risk of the public debt ratio not decreasing in the 5 years following the adjustment period of the national medium-term fiscal-structural plan is sufficiently low, according to the Commission's analysis.
Amendment 644 #
2023/0138(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point b
Article 12 – paragraph 1 – point b
(b) explain how it will eEnsure the delivery of investment and reforms responding to the main challenges identified within the European Semester, in the country-specific recommendations, correct the identified macroeconomic imbalances under the Macroeconomic Imbalances Procedure if applicable, and address the common priorities of the Union referred to in Annex VI of this Regulation, including the European Green Deal, European Pillar of Social Rights and the Digital Decade while being consistent with the updated National Energy and Climate Plans and the National Digital Decade Roadmaps;the social convergence reports under the Social Convergence Framework and correct, if applicable, the identified macroeconomic imbalances under the Macroeconomic Imbalances Procedure, the warnings by the Commission, or the recommendations by the Council, made pursuant to Article 121(4) TFEU.
Amendment 660 #
2023/0138(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point b a (new)
Article 12 – paragraph 1 – point b a (new)
(b a) address the following common priorities of the Union: (a) The European Green Deal, including the transition to climate neutrality by 2050 and the translation at national level through the National Energy and Climate Plans; (b) The European Pillar of Social Rights, including the related targets on employment, skills and poverty reduction by 2030; (c) The Digital Decade Policy Programme 2030, and reflected at national level through the National Digital Decade Strategic Roadmaps; (d) A Strategic Compass for Security and Defence - For a European Union that protects its citizens, values and interests and contributes to international peace and security.
Amendment 671 #
2023/0138(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point d
Article 12 – paragraph 1 – point d
(d) explain how it will ensure consistencEnsure consistency and where appropriate complementarity with the Recovery and Resilience Plan of the Member State concerned during the period of availability of the Recovery and Resilience Facility in accordance with Regulation (EU) 2021/241 and with any EU investment instruments that address the EU common priorities or serve the same purpose as the Recovery and Resilience Facility.
Amendment 680 #
2023/0138(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point d b (new)
Article 12 – paragraph 1 – point d b (new)
(d b) ensure progress in addressing national public investment gaps in alignment with each of the priorities of the Union as stated in Article 12 of Regulation (EC) No 1466/97, recognising that these investments play a pivotal role in supporting the fulfilment of Union objectives and ensuring sustainable and inclusive growth, upward social convergence and fiscal stability;
Amendment 685 #
2023/0138(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point d c (new)
Article 12 – paragraph 1 – point d c (new)
(d c) ensure consistency and, where appropriate, complementarity with the EU funds, namely cohesion policy funds the Member State concerned benefits from;
Amendment 686 #
2023/0138(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point d d (new)
Article 12 – paragraph 1 – point d d (new)
(d d) ensure consistency with the broad guidelines for the economic policies of the Member States and with the employment guidelines in accordance with Article 121(2) and Article 148(2) TFEU;
Amendment 687 #
2023/0138(COD)
When calculating the budget balance, Member States shall be allowed to use alternative accounting views on public investments replacing gross investment expenditure with depreciation on investments in calculating public deficit. This shall apply particularly for those member states whose budget position exceeds the 3% of deficit/GDP reference value.
Amendment 707 #
2023/0138(COD)
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point i
Article 13 – paragraph 2 – subparagraph 2 – point i
(i) be growth enhancing and boost resilience and upward social convergence;
Amendment 730 #
2023/0138(COD)
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point iv
Article 13 – paragraph 2 – subparagraph 2 – point iv
(iv) address relevant country-specific recommendations addressed to the Member State concerned, under Article 121(4) and Article 148(4) TFEU including, where applicable, recommendations issued under the Macroeconomic Imbalances Procedure as well as under the Social Convergence Framework;
Amendment 751 #
2023/0138(COD)
Proposal for a regulation
Article 13 – paragraph 4
Article 13 – paragraph 4
4. DCommitments included in the approved Recovery and Resilience Plan during the lifetime of the Recovery and Resilience Facility, in accordance with Regulation (EU) 2021/241, commitments included in the approved Recovery and Resilience Plan and the Partnership Agreement in Multiannual Financial Framework of the Member State concerned canshould be taken into account and be consistent with the overall set of reforms an d investments for an extension of the adjustment period.
Amendment 817 #
2023/0138(COD)
Proposal for a regulation
Article 15 – paragraph 2 – point b
Article 15 – paragraph 2 – point b
(b) whether the government deficit is maintained below, on average, the 3% of GDP reference value throughout the duration of the plan or whether the government deficit returns swiftly below the 3% of GDP reference value at the latest by the end of the adjustment period when the deficit is above this reference value at the time of submission of the national medium-term fiscal-structural plan;
Amendment 849 #
2023/0138(COD)
Proposal for a regulation
Article 15 – paragraph 2 – point f
Article 15 – paragraph 2 – point f
(f) whether the public debt ratio at the end of the planning horizon is below the public debt ratio in the year before the start of the technical trajectory.is reduced by at least [0,1] p.p of debt to GDP on average over the adjustment period plus 10 years
Amendment 937 #
2023/0138(COD)
Proposal for a regulation
Article 21 – paragraph 2
Article 21 – paragraph 2
The Commission shall set up a control account, functioning in accordance with Annex IV, and shall keep track of cumulative upward and downward deviations of actual net expenditures from the net expenditure path. Debt issued in the form of European Green Bonds according to [the Green Bonds Regulation] shall not be counted in the calculation of deviations from the net expenditure path.
Amendment 943 #
2023/0138(COD)
Proposal for a regulation
Article 21 – paragraph 2 a (new)
Article 21 – paragraph 2 a (new)
The years where Member States implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12, with a combined size of at least ]x%] of GDP, that lead to a deviation from the net expenditure path, shall not be recorded as deviation from the control account and shall be included among the relevant factors to be assessed when opening an Excessive Deficit Procedure as specified in the Article 126(3)
Amendment 944 #
2023/0138(COD)
Proposal for a regulation
Article 21 – paragraph 2 b (new)
Article 21 – paragraph 2 b (new)
The same procedure applies for the years where a Member State suffers exceptional circumstances outside its control that lead to a major impact on the public finances of the Member State concerned, as specified in article 25.
Amendment 945 #
2023/0138(COD)
Proposal for a regulation
Article 21 – paragraph 2 c (new)
Article 21 – paragraph 2 c (new)
If the structural primary balance remains above X% during the adjustment period, the Member State would be exempt from the debt-based EDP triggered by deviations on control account.
Amendment 952 #
2023/0138(COD)
Proposal for a regulation
Article 22 – paragraph 1
Article 22 – paragraph 1
Each national independent fiscal institution referred to in Article 8 of Council Directive […]32 [on the national budgetary frameworks] shall provide an assessment of compliance of the budgetary outturns data reported in the progress report referred to in Article 20 with the net expenditure path, including of non quantifiable targets and an assessment of the social impact of fiscal adjustment policy choices involving social experts in the process. Where applicable, each national independent fiscal institution shall also analyse the factors underlying a deviation from the net expenditure path. _________________ 32 Council Directive […] of […] [amending Council Directive 2011/85/EU on requirements for budgetary frameworks of the Member States] (OJ …., …, p,…)
Amendment 955 #
2023/0138(COD)
Proposal for a regulation
Article 22 – paragraph 1 a (new)
Article 22 – paragraph 1 a (new)
The Commission shall establish the European Advisory Fiscal Board (EFB), an independent expert group, which shall have an advisory role in respect of the Union’s economic policy coordination. The Commission shall have no voting rights. European social partners should be invited as observer members.
Amendment 973 #
2023/0138(COD)
Proposal for a regulation
Article 23 – paragraph 2 a (new)
Article 23 – paragraph 2 a (new)
2 a. The Commission shall orally inform the Chair and Vice-Chairs of the competent committee of the European Parliament of the progress made in the preparation of the draft Commission recommendation referred to in paragraph 2. That information shall be treated as confidential.
Amendment 1008 #
2023/0138(COD)
Proposal for a regulation
Article 25 – paragraph 2 a (new)
Article 25 – paragraph 2 a (new)
Where Member States face a negative GDP growth or must implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12, with a combined size of at least (X)% of GDP, shall be considered as exceptional circumstances and shall allow Member States to deviate from its net expenditure path.
Amendment 1023 #
2023/0138(COD)
Proposal for a regulation
Article 28 a (new)
Article 28 a (new)
Article28a European Parliament and the European Semester An agreement shall be concluded between the European Parliament and Commission on the detailed arrangements for organising the Parliamentary scrutiny of the European Semester and the involvement of the European Parliament in the drafting and approval of the Annual Sustainability Growth Survey, of the broad economic policy and employment guidelines, of the reference trajectory, of the medium-term fiscal- structural plans, of the country-specific recommendations, and for organising the accountability of the Commission and the responsible Commissioner for their activities in implementing this Regulation.
Amendment 1055 #
2023/0138(COD)
Proposal for a regulation
Article 35 – paragraph 1
Article 35 – paragraph 1
1. The Commission may undertake in- depth surveillancemonitoring missions in Member States which are the subject of recommendations issued pursuant to Article 23 for the purposes of on-site monitoring.
Amendment 1057 #
2023/0138(COD)
Proposal for a regulation
Article 35 – paragraph 2 a (new)
Article 35 – paragraph 2 a (new)
2 a. European Commission may invite social partners or other relevant stakeholders to offer their views on the socio-economic situation in the Member State and the identification of any risks or difficulties in complying with the objectives of this Regulation.
Amendment 1062 #
2023/0138(COD)
Proposal for a regulation
Article 36 – paragraph 2 – introductory part
Article 36 – paragraph 2 – introductory part
2. The report referred to in paragraph 1 shall assess and review:
Amendment 1070 #
2023/0138(COD)
Proposal for a regulation
Article 36 – paragraph 2 a (new)
Article 36 – paragraph 2 a (new)
2 a. The Commission shall submit the report to the European Parliament and to the Council, together with, where appropriate, a legislative proposal for an EU investment instrument to ensure that the central objective of the reform of this framework - to strengthen public debt sustainability while promoting sustainable and inclusive growth and upward social convergence in all Member States and respond fully to the sustained high levels of investment needed to address the current and future strategic priorities of the EU - can be met, or if the framework needs to be complemented by the establishment of a central and permanent investment instrument
Amendment 1107 #
2023/0138(COD)
Proposal for a regulation
Annex II – paragraph 1 – point c a (new)
Annex II – paragraph 1 – point c a (new)
(c a) Progress in addressing national public investment gaps in alignment with each of the priorities of the Union as stated in Article 12;
Amendment 1135 #
2023/0138(COD)
Proposal for a regulation
Annex II – paragraph 1 – point q
Annex II – paragraph 1 – point q
(q) Information on the public consultations of social partners, civil society organisations and other relevant stakeholders in view of the preparation of the plan and a summary of their contributions to the plan.
Amendment 1136 #
2023/0138(COD)
Proposal for a regulation
Annex II – paragraph 1 – point q a (new)
Annex II – paragraph 1 – point q a (new)
(q a) Challenges identified in the social convergence reports under the Social Convergence Framework and the implementation of the European Pillar of Social Rights.
Amendment 1137 #
2023/0138(COD)
Proposal for a regulation
Annex II – paragraph 1 – point q b (new)
Annex II – paragraph 1 – point q b (new)
(q b) A quantification, as much as possible, of the expected impacts of reforms and investment referred to under point (k) on fiscal sustainability, sustainable and inclusive growth and quality employment as well as upward social convergence, where applicable in line with commonly agreed methodologies;
Amendment 1151 #
2023/0138(COD)
Proposal for a regulation
Annex III – paragraph 1 – point m a (new)
Annex III – paragraph 1 – point m a (new)
(m a) Progress in addressing national public investment gaps in alignment with each of the priorities of the Union as stated in Article 12;
Amendment 1153 #
2023/0138(COD)
Proposal for a regulation
Annex III – paragraph 1 – point n
Annex III – paragraph 1 – point n
(n) Information on labour market, skills and social policy developments, and on the implementation of policy measures taken that foster upward social convergence among Member States towards better working and living conditions, in line with the principles of the European Pillar of Social Rights and the Employment Guidelines under Article 148 TFEU. That includes the expected impact of measures, in relation to progress on the national targets on employment, skills and poverty reduction by 2030 and if applicable the expected impact of measures to address the challenges identified under the Social Convergence Framework.
Amendment 1154 #
2023/0138(COD)
Proposal for a regulation
Annex III – paragraph 1 – point n a (new)
Annex III – paragraph 1 – point n a (new)
(n a) A quantification, as much as possible, of the expected impacts of reforms and investment referred to under point (k) on fiscal sustainability, sustainable and inclusive growth and quality employment as well as upward social convergence, where applicable in line with commonly agreed methodologies
Amendment 15 #
2023/0137(CNS)
Proposal for a regulation
Recital 6
Recital 6
(6) The economic governance framework of the Union should put debt sustainability and sustainable and inclusive growth at its core and therefore differentiate between Member States by taking into account their public debt challenges and allowing country-specific fiscal trajectories.
Amendment 17 #
2023/0137(CNS)
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6a) Government budgets can be brought in line either by spending reductions or revenue increases. As such this regulation should be neutral in the way governments seek to reduce their levels of debt and deficit, and should not prioritise cuts in public expenditures over increases in tax revenue;
Amendment 22 #
2023/0137(CNS)
Proposal for a regulation
Recital 8
Recital 8
(8) In order to simplify the Union fiscal framework and increase transparency, a single operational indicator anchored in debt sustainability should serve as a basis for setting the fiscal path and carrying out annual fiscal surveillance for each Member State. That single indicator should be based on nationally financed net primary expenditure, that is to say expenditure net of discretionary revenue measures and excluding interest expenditure as well as cyclicalexpenditure on programmes of the Union fully matched by Union funds revenue, national expenditure on co- financing of programmes funded by the Union cap with a limit of 0.25% of GDP, cyclical elements of unemployment benefit expenditure, and expenditure on Union programmes fully matched by revcosts related to the borrowing of funds for the loans related to the national plans in accordance with the Recovery and Resilienuce from Union fundsFacility in accordance with Regulation (EU) 2021/241. This indicator allows for macro-economic stabilisation as it is not affected by the operation of automatic stabilisers, including revenue and expenditure fluctuations outside the direct control of the government.
Amendment 35 #
2023/0137(CNS)
Proposal for a regulation
Recital 13
Recital 13
(13) In accordance with Articles 24 and 25 of Regulation (EU) [on the preventive arm], the Council, following a recommendation from the Commission, can allow Member States to deviate from the net expenditure path set by the Council under that Regulation in the event of a severe economic downturn in the euro area or the Union as a whole, or in the event of exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned, provided that it does not endanger fiscal sustainability in the medium term or where Member States implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12 of Regulation (EU) [on the preventive arm], and adhering to the reforms and investments outlined in national plans, including those of the Recovery and Resilience Facility, Cohesion Funds, and future EU investment instruments designed to serve similar purposes. As a consequence, such a deviation should not lead to the opening of a debt-based EDP.
Amendment 57 #
2023/0137(CNS)
Proposal for a regulation
Recital 21 a (new)
Recital 21 a (new)
(21a) A strong track record of commitments and implementation rate of reforms and investments approved under the Recovery and Resilience Plan of the Member State, as well on its Partnership Agreement for the Cohesion Funds, should be taken into account for the Commission to halt its proposal to the Council to suspend all or part of the commitments or payments of these two instruments as stated in Article 10(1) and Article 19(7) of the Recovery and Resilience Facility Regulation , respectively.
Amendment 65 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 1 – paragraph 2 – point b
Article 1 – paragraph 2 – point b
(b) ‘net expenditure’ means government expenditure net of tax revenue, interest expenditure, discretionary revenue measures and other budgetary variables outside the control of the government, as defined in Annex II, point (a) of Regulation (EU) of the European Parliament and of the Council [on the preventive arm]*;
Amendment 67 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 1 – paragraph 2 – point b
Article 1 – paragraph 2 – point b
(b) ‘net expenditure’ means government expenditure net of interest expenditure, discretionary revenue measures and other budgetary variables outside the control of the government, as defined in Annex II, point (a) of Regulation (EU) of the European Parliament and of the Council [on the preventive arm]*; , expenditure on programmes of the Union fully matched by Union funds revenue, national expenditure on co- financing of programmes funded by the Union cap with a limit of 0.25% of GDP, cyclical elements of unemployment benefit expenditure, and costs related to the borrowing of funds for the loans related to the national plans in accordance with the Recovery and Resilience Facility in accordance with Regulation (EU) 2021/241;
Amendment 76 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 1 – paragraph 2 – point c
Article 1 – paragraph 2 – point c
(c) ‘technical'reference trajectory’ means the net expenditure trajectory put forward by the Commission in accordance with Regulation (EU) [on the preventive arm]each Member State and negotiated after with the Commission to provide guidance to Member States with public debt above the 60% of gross domestic product (GDP) reference value or government deficit above the 3% of GDP reference value when drawing up their national medium- term fiscal-structural plans;
Amendment 83 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 1
Article 2 – paragraph 1
The excess of a government deficit over the reference value shall be considered exceptional, in accordance with Article 126(2), second indent, point (a), of the Treaty on the Functioning of the European Union (TFEU), where the Council has established the existence of a severe economic downturn in the euro area or the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm] or of exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned, or where Member States implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12 of Regulation (EU) [on the preventive arm], and adhering to the reforms and investments outlined in national plans, including those of the Recovery and Resilience Facility, Cohesion Funds, and future EU investment instruments designed to serve similar purposes in accordance with Article 25 of Regulation (EU) [on the preventive arm].
Amendment 85 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 1 – subparagraph 2
Article 2 – paragraph 1 – subparagraph 2
In addition, the excess over the reference value shall be considered temporary where budgetary forecasts as provided by the Commission and the Member State indicates that the deficit will fall belowis on a downward path towards the reference value following the end of the severe economic downturn or the exceptional circumstances referred to in the first subparagraph.
Amendment 90 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 1a
Article 2 – paragraph 1a
1a. When it exceeds the reference value, the ratio of the government debt to gross domestic product (GDP) shall be considered sufficiently diminishing and approaching the reference value at a satisfactory pace in accordance with Article 126(2), point (b), TFEU if the Member State concerned respectsfollows within a sustainable range its net expenditure path.
Amendment 105 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 1
Article 2 – paragraph 3 – subparagraph 1
The Commission, when preparing a report under Article 126(3) TFEU, shall take into account as a key relevant factor the degree of debt challenges in the Member State concerned. In particular, where the Member State faces substantial public debt challenges according to the most recent Debt Sustainability Monitor, it shall be considered a key factor leading to the opening of an excessive deficit procedure as a rule, national public investment gaps and needs to achieve the common priorities of the Union as stated in the Article 12 of Regulation (EU) on the preventive arm], in the Member State concerned.
Amendment 121 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 2 a (new)
Article 2 – paragraph 3 – subparagraph 2 a (new)
The Commission shall take into account as a key relevant factor to prevent the opening of a EDP the delivery and commitment by the Member State on the implementation of the investments and reforms to address the common priorities of the Union as stated in the Article 12 of the Regulation (EU) [on the preventive arm], but also the reforms and investments committed in the national plans of the Recovery and Resilience Facility, Cohesion Funds and future EU investments instruments that serve the same purpose.
Amendment 129 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 3 – point b
Article 2 – paragraph 3 – subparagraph 3 – point b
(b) the developments in the medium- term budgetary positions, including, in particular, the size of the actual deviation from the net expenditure path, in annual and cumulative terms as measured by the control account, and the extent to which the deviation is due to a severe economic downturn in the euro area or in the Union as a whole or to exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned in accordance with Articles 24 and 25 of Regulation (EU) [on the preventive arm]. Where relevant, the deviation compared to the technical trajectory shall also be taken into account when considering the size of the deviation;
Amendment 134 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 3 – point c a (new)
Article 2 – paragraph 3 – subparagraph 3 – point c a (new)
(ca) the progress in addressing national public investment gaps in alignment with the priorities of the Union as stated in Article 12 of Regulation (EU) [on the preventive arm], recognising that these investments play a pivotal role in supporting the fulfilment of Union objectives and ensuring sustainable and inclusive growth and fiscal stability;
Amendment 139 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
(d) the implementation of reforms and investments including, in particular policies to prevent and correct excessive macroeconomic imbalances and policies to implement the common growth and employment strategy of the Union and the European Pillar of Social Rights, including those supported by NextGenerationEU, Cohesion Funds and EU investments instruments that serve the same purpose, and the overall quality of public finances, in particular the effectiveness of national budgetary frameworks.
Amendment 147 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 4
Article 2 – paragraph 3 – subparagraph 4
The Commission shall give due and express consideration to any other factors which, in the opinion of the Member State concerned, are relevant in order to comprehensively assess compliance with deficit and debt criteria and which the Member State has put forward to the Council and the Commission. In that context, particular consideration shall be given to financial contributions to fostering international solidarity and, achieving the policy goals of the Union. The opinion submitted to the Commission by the Member State concEU common priorities of the Union, the size of the public investment committed to address the priorities refernred shall include the opinion of its national independent fiscal institution on relevant factorsin Article 12ba) of Regulation (EC) No 1466/97 and any other relevant factors outside of the control of the Member State.
Amendment 156 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 4 – subparagraph 1
Article 2 – paragraph 4 – subparagraph 1
The Council and the Commission shall make a balanced overall assessment of all the relevant factors, specifically, the extent to which they affect the assessment of compliance with the deficit and/or the debt criteria as aggravating or mitigating factors.
Amendment 161 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 4 – subparagraph 2
Article 2 – paragraph 4 – subparagraph 2
Amendment 165 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 3
Article 2 – paragraph 3 – subparagraph 3
Amendment 170 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 5
Article 2 – paragraph 5
5. Where Member States are allowed to deviate from their net expenditure path in the event of a severe economic downturn in the euro area or in the Union as a whole pursuant to Article 24 of Regulation (EU) [on the preventive arm], the Commission and the Council, in their assessment, mayshall decide not to conclude on the existence of an excessive deficit.
Amendment 173 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 6
Article 2 – paragraph 6
If the Council, acting under Article 126(6) TFEU, decides that an excessive deficit exists in a Member State, the Council and the Commission shall, in the subsequent procedural steps of that Article of the TFEU, take into account the relevant factors referred to in paragraph 3 of this Article, as they affect the situation of the Member State concerned, including as specified in Article 5(2) of this Regulation, in particular in establishing a deadline for the correction of the excessive deficit and eventually extending that deadline. However, those relevant factors shall not be taken into account for the decision of the Council under Article 126(12) TFEU on the abrogation of some or all of its decisions under Article 126(6) to (9) and (11) TFEU.’;
Amendment 183 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Council Regulation (EC) No 1467/97
Article 3 – paragraph 4 – subparagraph 1
Article 3 – paragraph 4 – subparagraph 1
The Council recommendation made in accordance with Article 126(7) TFEU shall establish a maximum deadline of sixtwelve months for effective action to be taken by the Member State concerned. WThen warranted by the seriousness of the situation, the deadline for effective action may be three months. The Council recommenda Council recommendation may also establish a deadline for the correction of the excessive deficit ensuring a sustainable and balanced correction sthall also establish a deadlint does not endanger sustainable and inclusive growth, social convergence for the correction of the excessive defimplementation of significant investments and social policites. In its recommendation, the Council shallmay also request that the Member State implements a correctivenew net expenditure path, which ensures that the general government deficit remains or is brought and maintained below the reference value within the deadline set in the recommendation. For the years when the general government deficit is expected to exceed the reference value, the corrective net expenditure path shall be consistent with a minimum annual adjustment of at least 0,5% of GDP as a benchmark.is declining towards a reference value
Amendment 193 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Council Regulation (EC) No 1467/97
Article 3 – paragraph 4 – subparagraph 2
Article 3 – paragraph 4 – subparagraph 2
The corrective net expenditure path shall also put the debt ratio on a plausibly and sustainable downward path or keep it at a prudent level having regard to the criteria established in Annex I of Regulation (EU) [on the preventive arm]. The corrective net expenditure path shall ensure that the average annual fiscal adjustment eff and prevent the occurrence ort in the first three years is at least as high as the average annual fiscal effort of the total adjustment periodcentives to pro-cyclical policies.
Amendment 198 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Council Regulation (EC) No 1467/97
Article 3 – paragraph 5
Article 3 – paragraph 5
5. Within the deadline provided for in paragraph 4 of this Article, the Member State concerned shall report to the Council and the Commission on action taken in response to the Council’s recommendation under Article 126(7) TFEU. The report shall include the targets for government expenditure and revenue and for the discretionary measures on both the expenditure and the revenue side consistent with the Council’s recommendation, as well as information on the measures taken and the nature of those envisaged to achieve the targets. The report shall also include the opinion of the independent fiscal institution of the Member State concerned on the adequacy of the measures taken and envisaged with respect to the targets. The Member State shall make the report public.
Amendment 205 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EC) No 1467/97
Article 3 – paragraph 6
Article 3 – paragraph 6
Amendment 214 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a
Article 1 – paragraph 1 – point 4 – point a
Council Regulation (EC) No 1467/97
Article 5 – paragraph 1 – subparagraph 1
Article 5 – paragraph 1 – subparagraph 1
Any Council decision to give notice to the participating Member State concerned to take measures for the deficit reduction in accordance with Article 126(9) TFEU shall be taken within two months of the Council decision under Article 126(8) TFEU establishing that no effective action has been taken. In the notice, the Council shall request that the Member State implements a corrective net expenditure path which ensures that the general government deficit remains or is brought and maintained belowclose to the reference value within the deadline set in the notice. For the years where the general government deficit is expected to exceed the reference value, the corrective net expenditure path shall be consistent with a minimum annual adjustment of at least 0,5% of GDP as a benchmark.
Amendment 224 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a
Article 1 – paragraph 1 – point 4 – point a
Council Regulation (EC) No 1467/97
Article 5 – paragraph 1 – subparagraph 2
Article 5 – paragraph 1 – subparagraph 2
The corrective net expenditure path shall also put the debt ratio on a plausibly and sustainable downward path or keep it at a prudent level having regard to the criteria established in Annex I of Regulation (EU) [on the preventive arm]. The corrective net expenditure path shall ensure that the average annual fiscal adjustment effort in the first three years is at least as high as the average annual fiscal effort of the total adjustment period. The Council shall also indicate measures conducive to the achievement of the corrective net expenditure path.;
Amendment 230 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point b
Article 1 – paragraph 1 – point 4 – point b
Regulation (EC) No 1467/97
Article 5 – paragraph 2
Article 5 – paragraph 2
2. Where effective action has been taken in compliance with a notice under Article 126(9) TFEU or where exceptional circumstances outside the control of the government with major impact on the public finances of the Member State concerned, including on the respect of the corrective net expenditure path referred to in paragraph 1 of this Article, or where Member States implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12 of Regulation (EC) No 1466/97, and adhering to the reforms and investments outlined in national plans, including those of the Recovery and Resilience Facility, Cohesion Funds, and future EU investment instruments designed to serve similar purposes, occur after the adoption of that notice, the Council may decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) TFEU. The revised notice, taking into account the relevant factors referred to in Article 2(3) of this Regulation may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule. In case the Council has established the existence of a severe economic downturn in the euro area or in the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm], the Council may also decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) TFEU, on condition that it does not endanger fiscal sustainability in the medium term. The revised notice may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule.’;
Amendment 241 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Council Regulation (EC) No 1467/97
Article 8 – paragraph 3
Article 8 – paragraph 3
3. A Council decision shall only be taken pursuant to Article 126(12) TFEU where budgetary forecasts as provided by the Commission and the Member State indicate that the deficit has been brought durably belowclose to the reference value and, where the excessive deficit procedure was opened on the basis of the debt criterion, the Member State concerned respectfollowed the corrective net expenditure path set by the Council in accordance with Article 3(4) or Article 5(1) of this Regulation over the previous 2 years and is projected to continue to do so in the current year on the basis of the Commission forecast.;
Amendment 245 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Council Regulation (EC) No 1467/97
Article 9 – paragraph 1 – point ba (new)
Article 9 – paragraph 1 – point ba (new)
(ba) where the participating Member State returns to its original net expenditure path as assessed in accordance with Article 8 of Regulation EU [on the preventive arm];
Amendment 255 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b
Article 1 – paragraph 1 – point 9 – point b
Council Regulation (EC) No 1467/97
Article 10a – paragraph 2
Article 10a – paragraph 2
2. Following the adoption by the Council of a notice under Article 126(9) TFEU, the Commission shall carry out a dedicated surveillance mission to the Member State concerned to discuss the measures that the Member State intends to take in response to the measures judged necessary following the notice under Article 126(9) TFEU. Upon invitation by the parliament of the Member State concerned, the Commission may present its assessment of the economic and fiscal situation in the Member State. Enhanced surveillance may be undertaken for Member States which are the subject of recommendations and notices issued following a decision pursuant to Article 126(8) TFEU and decisions under Article 126(11) TFEU for the purposes of on-site monitoring. The Member States concerned shall provide all necessary information for the preparation and the conduct of the surveillance mission.;
Amendment 260 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 9 a (new)
Article 1 – paragraph 1 – point 9 a (new)
(9a) Article 11 is replaced by the following: "Article 11 "Whenever the Council decides under Article 126(11) TFEU to impose sanctions on a participating Member State, a fine shall, as a rule, be required. The Council may decide to supplement such a fine by the other measures provided for in Article 126(11) TFEU. A strong track record of commitments and implementation rate of reforms and investments approved under the Recovery and Resilience Plan of the Member State, as well on its Partnership Agreement for the Cohesion Funds, should be taken into account for the Commission to halt its proposal to the Council to suspend all or part of the commitments or payments of these two instruments as stated in Article 10(1) of the RRF regulation and Article 19(7), respectively. "
Amendment 264 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Council Regulation (EC) No 1467/97
Article 12 – paragraph 1
Article 12 – paragraph 1
1. The amount of the fine shall amount to up to 0,051% of GDP for a 6- month period and be paid every 6 months until the Council assesses that the Member State concerned has taken effective action in response to the notice issued under Article 126(9) TFEU.
Amendment 269 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Council Regulation (EC) No 1467/97
Article 12 – paragraph 3
Article 12 – paragraph 3
3. The cumulated amount of the fines referred to in paragraphs 1 and 2 shall not exceed 0,52 % of GDP.;
Amendment 38 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 3 – point a Directive 2011/85/EU
Article 4 – paragraph 1
Article 4 – paragraph 1
1. Member States shall ensure that annual and multiannual fiscal planning is based on realistic macroeconomic and budgetary forecasts using the most up-to- date information. Budgetary planning shall be based on the most likely macrofiscal scenario or on a more prudent scenario. The macroeconomic and budgetary forecasts shall be either produced or endorsed by independent fiscal institutions established in accordance with Article 8. They shall be compared with the most updated forecasts of the Commission. Significant differences between the macroeconomic and budgetary forecasts of the Member State and the Commission’s forecasts shall be explained, including where the level or growth of variables in external assumptions departs significantly from the values contained in the Commission’s forecasts.
Amendment 47 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 3 – point c Directive 2011/85/EU
Article 4 – paragraph 5
Article 4 – paragraph 5
5. Member States shall specify which institution is responsible for producing macroeconomic and budgetary forecasts. At least annually, the Member States and the Commission shall engage in a technical dialogue concerning the assumptions underpinning the preparation of macroeconomic and budgetary forecasts.
Amendment 50 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 3 – point c Directive 2011/85/EU
Article 4 – paragraph 6
Article 4 – paragraph 6
Amendment 54 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 5 – point a Directive 2011/85/EU
Article 6 – paragraph 1 – point b
Article 6 – paragraph 1 – point b
Amendment 56 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 5 – point b Directive 2011/85/EU
Article 6 – paragraph 2
Article 6 – paragraph 2
If numerical fiscal rules contain escape clauses, such clauses shall set out a limited number of specific circumstances, consistent with the Member States’ obligations deriving from the TFEU and Regulation [XXX preventive arm of the SGP], and stringent procedures in which temporary non-compliance with the rules is permitted. Escape clauses shall have clear time limits.
Amendment 65 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 8 Directive 2011/85/EU
Article 8 – paragraph 4
Article 8 – paragraph 4
4. Member States shall ensure that the iInstitutions referred to in paragraph 1 have the following tasks:
Amendment 79 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 8 Directive 2011/85/EU
Article 8 – paragraph 4 – point d
Article 8 – paragraph 4 – point d
Amendment 80 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 8 Directive 2011/85/EU
Article 8 – paragraph 4 – point e
Article 8 – paragraph 4 – point e
Amendment 82 #
2023/0136(NLE)
(f) conducting, on a regular basis, reviews of the national budgetary framework, in order to assess the consistency, coherence and effectiveness of the framework, including mechanisms and rules that regulate fiscal relationships between public authorities across sub- sectors of general government;.
Amendment 90 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 9 – point b – point ii Directive 2011/85/EU
Article 9 – paragraph 2 – point c
Article 9 – paragraph 2 – point c
(c) a description of medium-term policies, including investment and reforms, and if applicable, specifying the investments and reforms in EU common priorities, envisaged with an impact on general government finances and sustainable and inclusive growth, broken down by major revenue and expenditure item, showing how the adjustment towards the national budgetary objectives over the medium term as referred to in Article 2, point (e), is achieved compared to projections under unchanged policies.;
Amendment 1 #
2023/0038M(NLE)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
– having regard to its resolution of 6 October 2022 on the outcome of the Commission’s review of the 15-point action plan on trade and sustainable development,
Amendment 14 #
2023/0038M(NLE)
Motion for a resolution
Recital A
Recital A
A. whereas the EU and New Zealand are like-minded partners who share fundamental values, such as respect for human rights, democracy and the rule of law, and both support a rules-based trading system, with the World Trade Organization (WTO) as its centrepiece;
Amendment 17 #
2023/0038M(NLE)
Motion for a resolution
Recital B
Recital B
B. whereas New Zealand is situated in the dynamic and strategically important Indo-Pacific region ; whereas New Zealand is a member of the Comprehensive and Progressive Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership;
Amendment 27 #
2023/0038M(NLE)
Motion for a resolution
Recital G
Recital G
G. whereas this is the first EU trade agreement aligned with the EU’s new approach to trade and sustainable development, which includes enforceable provisions with sanctions as a last resort;
Amendment 33 #
2023/0038M(NLE)
Motion for a resolution
Recital H
Recital H
H. whereas open and fair trade is one of the four pillars of the EU’s Green Deal industrial plan;
Amendment 35 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Considers this agreement to be of major significance for bilateral relations between the EU and New Zealand and the promotion of rules- and values-based trade, bringing benefits beyond purely economic gains;
Amendment 38 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Welcomes the fact that, a the agreement is comprehensive, economically balanced and it is the most ambitious and comprehenprogressive EU trade deal ever concluded,to date on sustainability; highlights that the agreement delivers on the priorities set out in Parliament’s resolutions of 25 February 2016 and 26 October 2017; notes that the agreement includes a dispute settlement mechanism to ensure that the rights and obligations contained therein are respected, so that businesses, workers and consumers can enjoy its benefits;
Amendment 42 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Takes noteStrongly welcomes that the agreement integrates, for the first time, the new EU approach to trade and sustainable development and incorporates an unprecedented level of environmental and labour commitments to effectively implement fundamental International Labour Organization (ILO) conventions ratified by the parties and the Paris Agreement; points outstrongly welcomes the possibility of trade sanctions as a last resort, in instances of serious violations of the Paris Agreement and the core ILO standards; believes that the FTA sets a benchmark in this area; is aware that these levels may not be matched by future FTAs with less like-minded partners; calls on both parties to define a set of guiding principles to be considered essential to achieving the objectives of the Paris Agreement; expects concrete progress within a reasonable timeframe on the part of New Zealand towards the ratification and effective implementation of the two remaining ILO core conventions (No. 87 on freedom of association and the right to organise, and No. 138 on minimum wage), in accordance with the commitments laid down in the agreement; welcomes that the EU and New Zealand agreed to reflect the ILO recent decision to add occupational health and safety to core labour standards, as appropriate; welcomes that the agreement has a trade and gender equality article under the trade and sustainable development chapter and calls on both parties to promote women’s empowerment and gender equality; welcomes a dedicated provision on trade and fossil fuel subsidies reform and calls on the parties to intensify engagement on this issue at the WTO; welcomes that the agreement liberalises green goods and services at entry into force, with a list of such goods and services, and calls for a regular reviewing of this list; points out that the EU and New Zealand will cooperate on circular economy, deforestation-free supply chains and carbon pricing; stresses that the agreement includes a non-regression clause prohibiting the parties to weaken, reduce or fail to enforce labour and environmental standards to encourage trade; believes that the FTA sets a new benchmark to other trading partners in the area of sustainable trade;
Amendment 56 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Believes that the agreement will level the playing field with other trading partners that already have FTAs with New Zealand; notes the high level of tariff liberalisation under the agreement, which will entail the removal of 100 % of New Zealand tariffs on EU exports at entry into force and the lifting of 98.5 % of EU tariffs on New Zealand trade after seven years; notes the counter-seasonal nature of our respective agriculture production; believes that the sensitive character of certain European agricultural sectors has been duly reflected by well-calibrated concessions in the formtaken into account through tariff-rate quotas and longer transition periods; calls on the Commission to monitor closely the management of tariff- rate quotas and longer transition periodsfor agricultural products and report back to Parliament; welcomes the inclusion of dedicated chapters on sustainable food systems and animal welfare respectively and anand calls on both parties to further exchange on outcomes for sustainable agricultural practices; also welcomes the animal welfare condition in the tariff rate quota for beef and the ambitious chapter on sanitary and phytosanitary matters;
Amendment 75 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Welcomes the protection that the agreement provides for the names of 163 European foodstuff geographical indications (GIs) and the complete list of EU GI wines and spirits, as well as the scope for (close to 2000 names); highlights that the agreement foresees the opportunity to adding more GI names in the future; notes that the agreement also includes comprehensive intellectual property provisions on copyright, trademarks and industrial designs, thereby ensuring effective protection and enforcement;
Amendment 80 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Believes that the market-access commitments on goods, given the removal of relatively high duties on industrial products such as cars and textiles, and the commitments on services, including delivery, telecommunications, financial and international maritime transport services, have the potential to significantly boost bilateral trade; considers that the agreement promotes transparency and the use of international standards to facilitate market access, while safeguarding the levels of protection that each party deems appropriate; welcomes that the agreement explicitly reaffirms the right of each party to regulate to pursue legitimate policy objectives; appreciates New Zealand’s acceptance of EU type-approval certificates and the provisions of the annex on wine and spirits, which will respectively facilitate trade in the vehicles and wine and spirits sectors;
Amendment 83 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the fact that the EU and New Zealand will reciprocally open up their procurement markets beyond what is already covered under the WTO Agreement on Government Procurement; stresses that EU companies will be allowed to tender for New Zealand central and sub-central government contracts on an equal footing with local companies;
Amendment 87 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that the agreement includes a dedicated chapter on digital trade, which will ensure predictability and legal certainty in digital trade transactions and facilitate cross-border data flows, while respecting the EU acquis on the protection of data and privacy; welcomes that the agreement will help ensure a secure online environment for consumers and that it will preserve a high level of personal data and privacy protection in the EU; welcomes the inclusion of ambitious articles on the protection of source code and paperless trade;
Amendment 89 #
2023/0038M(NLE)
11a. Urges both partners to ensure the active involvement of social partners and civil society, notably through the civil society forum and the domestic advisory group, on the implementation of the agreement; calls on both parties to ensure the swift establishment of well- functioning, effective and balanced domestic advisory groups and to ensure that their views on transversal sustainability issues are taken into account in a transparent manner in the government-to-government consultations provided in the agreement; calls on the Commission to ensure that the EU delegation to New Zealand is involved in the process of implementing the agreement from start to finish;
Amendment 3 #
2022/2206(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas Parliament has been consistently a vocal promoter of making the ECI a strong, user-friendly instrument for the democratic participation of the citizens in EU-agenda setting;
Amendment 10 #
2022/2206(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
F a. whereas, the revised ECI Regulation strengthened the political dimension of this instrument, with the introduction of a mandatory plenary debate in Parliament with the possibility to adopt a resolution;
Amendment 18 #
2022/2206(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
I a. whereas the replies from the Commission to valid ECIs need to be more clear, concrete and timely;
Amendment 45 #
2022/2206(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Regrets the weak legal impact of valid ECIs; stresses that, for the objectives of the revised ECI Regulation to be achieved and the full potential of this instrument to be realised, the Commission needs to appropriately consider and respond to valid ECIs in a timely manner;
Amendment 55 #
2022/2206(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Underlines the need to continue to raisimprove awareness of this participatory instrument, in particular by promoting it on social media and including it in civic education curriculums, in order to reach as many citizens as possible, especially young people; calls, therefore, on the Commission to launch broad information campaigns to promote the ECI, using all official languages of the EU, involving regional and local authorities; notes, as well, the need to adapt the communication campaigns in order to target specific groups of citizens living in remote areas or with poor access to online tools;
Amendment 60 #
2022/2206(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Strongly believes that Parliament should be associated to the information efforts, making full use of all its available tools, including EPLOs;
Amendment 69 #
2022/2206(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Invites the Commission to start a reflection process on the usefulness of reintroducing the option for organisers to use individual online collection systems; also calls on the Commission to make efforts to incorporate the possibility to allow citizens of all Member States to use the eID signing tool;
Amendment 73 #
2022/2206(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Invites the Commission to consider additional ways to simplify the procedure, namely the possible lowering of the thresholds needed both for signatures and number of Member States;
Amendment 78 #
2022/2206(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Calls onSuggests that the Commission toshould consider provideing financial support for ECIs that reach the threshold of one million signaturesto valid ECIs; invites the Commission to conduct an assessment of such possibility;
Amendment 84 #
2022/2206(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls on the Commission to establish a proper dialogue with organisers about their goals and the best possible means to achieve them, in order to assess citizens’ input seriously and effectively; points out that such a dialogue cshould already be initiated during the collection periodbe strengthened during the examination procedure and after the Commission's initial reply;
Amendment 86 #
2022/2206(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Calls on the Commission to better communicate the impact of ECIs, by also sharing success stories and achievements with citizens in order to increase the trust in and the use of the ECI tool;
Amendment 1 #
2022/2188(INI)
Draft opinion
Recital A
Recital A
A. whereas the Trade and Cooperation Agreement (TCA) concluded between the EU and the UK is of unprecedented nature and scope and establishes preferential arrangements in areas such as trade in goods and in services, intellectual property, digital trade, road transport and aviation, public procurement, energy, social security coordination, law enforcement and judicial cooperation in criminal matters, fisheries, competition, mobility, investment, thematic cooperation and participation in EU programmes, along with a prudential carve-out;
Amendment 2 #
2022/2188(INI)
Draft opinion
Recital A a (new)
Recital A a (new)
Aa. whereas the Withdrawal Agreement and the TCA constitute a common framework for the UK’s relationship with the EU; whereas both agreements have been agreed on and ratified by the EU and the UK and are legally binding treaties under international public law; whereas the TCA is predicated on the full implementation of the Withdrawal Agreement, now revised by the Windsor Framework;
Amendment 18 #
2022/2188(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Recalls that the Withdrawal Agreement and the TCA constitute a common framework for the UK’s relationship with the EU; notes that both agreements have been agreed on and ratified by the EU and the UK and are legally binding treaties under international public law; further recalls that the TCA is predicated on the full implementation of the Withdrawal Agreement, now revised by the Windsor Framework;
Amendment 22 #
2022/2188(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Notes the limited nature of the TCA in relation to financial services; recognises that this absence is a consequence of the UK’s unwillingness to discuss other areas of mutual interest as part of the TCA negotiations; notes that there arwelcomes the plans to establish a joint EU-UK financial regulatory forum to facilitate dialogue and cooperation on financial services issues3 ; recalls that this forum would not constitute a formal part of the TCA and willshould not provide the same level of access or cooperation as a comprehensive financial services agreement; _________________ 3 Reuters, ‘EU restarts work on EU-UK regulatory forum after Northern Ireland deal’, 8 March 2023.
Amendment 26 #
2022/2188(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Reiterates the fact that decisions on equivalence are not reciprocal and do not form part of the TCA; notes also the UK’s decisions on equivalence in respect of the EU and also in respect of other non-EU countries such as Switzerland, where mutual recognition status has been agreed; recalls that decisions on equivalence could benefit EU firms in terms of greater access to the UK market, including for banking and insurance; notes that the EU has only granted the UK equivalence status in one area – central counterparties – on a time- limited basis, recently extended until 2025; calls for further equivalence decisions to be considered; notes that as of October 2021, the EU had granted 22 equivalence decisions to the United States compared to one in the case of the UK4 ; supports the Commission’s position that decisions on equivalence should be made when they are in the EU’s interests; encourages the Commission to discuss further equivalence decisions in order to provide greater market access benefits to both EU and UK firms; expresses concern about the UK de- regulation trends in the field of financial services and their impact on equivalence decisions; _________________ 4 European Affairs Committee of the House of Lords, ‘1st Report of Session 2022–23: The UK-EUrelationship in financial services’, 23 June 2022.
Amendment 33 #
2022/2188(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Notes the desire of the British Government to adopt divergent regulation from the EU in respect of financial services, including by way of the Financial Services and Markets Bill5 , which proposes to repeal, replace, or amend retained EU law in the area of financial services and to delegate greater responsibility to UK regulators; underlines that further regulatory divergences may have a negative impact on financial cooperation between the UK and the EU and could undermine financial flows and the activities of financial entities; welcomes the EU’s recent progress on legislation in respect of financial services, even where this may result in regulatory divergence from the UK, including with respect to cryptocurrencies, taxonomy, listing and anti-money laundering; acknowledges, however, that the UK and the EU may adopt different regulatory approaches in the area of financial services and may not necessarily maintain a harmonised regulatory regime; supports the EU’s legislative progress in this area, even where this may result in regulatory divergence from the UK; stresses, however,tresses the benefits of future regulatory cooperation; _________________ 5 UK Parliament, ‘Financial Services and Markets Bill’, 11 May 2023.
Amendment 37 #
2022/2188(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Notes that the TCA offers the EU an opportunity to develop and strengthen its own financial services infrastructure and expertise; strongly supports the completion of the capital markets union and the banking union, based on an approach that is regulated, outward-looking, innovative and competitive; recallnotes that the completion of the third pillar of the Banking Union will support the overall objectives of strengthening the Union’s positioning on financial and capital markets and calls for the establishment of a fully-fledged European Deposit and Insurance Scheme (EDIS); acknowledges that the City of London remains a major centre for financial services with a global reach6 ; recognises the importance of a strong financial services sector for both the EU and the UK and supports efforts to enhance the EU’s financial services infrastructure and expertise; _________________ 6 Reuters, ‘London is top global finance centre but lags in key areas, says study’, 27 January 2022.
Amendment 42 #
2022/2188(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 43 #
2022/2188(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Supports the aims of the Commission’s proposed review of the European Market Infrastructure Regulation in respect of improving EU-based capacity and infrastructure in the area of euro clearing; recognises that the majority of euro clearing taking place outside the EU represents a strategic risk; recognises also that any forced relocation could risk disruption, market fragmentation, retaliatory measures, loss of competitiveness and reduced liquidity; and be detrimental; is, however, concerned that close to 90% of euro clearing takes place in the city of London and calls for the co-legislators to support action in this area in a manner that is effective, and proportionate and without disruption; advocates for a balanced approach that addresses the strategic risks of euro clearing outside the EU, while minimising potential disruptions to the market;
Amendment 45 #
2022/2188(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Is concerned that the Union relies heavily on certain third country Central Counterparty Clearing Houses (CCP) and that despite having over 52 CCPs authorised under EMIR, central clearing is usually concentrated in a small number of CCPs outside the EU;1a calls on the Commission to explore all options to step up recognition of EU based CCPs that are authorised to clear all asset classes; _________________ 1a Commission Staff working document, impact assessment report accompanying document Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulations (EU) No 648/2012, (EU) No 575/2013 and (EU) 2017/1131 as regards measures to mitigate excessive exposures to third-country central counterparties and improve the efficiency of Union clearing markets and Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directives 2009/65/EU, 2013/36/EU and (EU) 2019/2034 as regards the treatment of concentration risk towards central counterparties and the counterparty risk on centrally cleared derivative transactions SWD(2022) 697 final, https://eur-lex.europa.eu/legal- content/EN/TXT/?uri=CELEX:52022SC0 697
Amendment 45 #
2022/2188(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. MCalls on the Commission to assess the level of protection of EU geographical indications in the UK and maintains its call for both parties to activate the ‘rendez- vous’ clause on the future protection of geographical indications registered after 2021;
Amendment 46 #
2022/2188(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Reiterates that the TCA is the delicate outcome of long and difficult negotiations and it should therefore be fully implemented in good faith, equally to the Withdrawal Agreement, in particular the Protocol on Ireland and Northern Ireland, and the recent Windsor Framework, for the mutual benefit of both parties; calls on both parties to fully exploit its huge potential to facilitate EU-UK trade to the greatest extent possible, while bearing in mind that the advantages of membership in terms of access to the EU single market and to the Customs Union, as well as of participation in other common and flanking policies, cannot, under any circumstances, be replicated through an FTA;
Amendment 48 #
2022/2188(INI)
Draft opinion
Paragraph 8
Paragraph 8
Amendment 52 #
2022/2188(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Takes note of the further postponement of the implementation of certain UK import procedures and checks on products coming from the EU; calls on the UK Government to clarify the schedule and requirements in order to avoid further uncertainty for businesses and to digitalize and simplify UK customs procedures to the extent possible, in order to avoid further frictions in trade between the EU and the UK; highlights that customs cooperation between the EU and the UK is important in order to support compatibility in customs legislation and procedures, and to promote trade facilitation;
Amendment 53 #
2022/2188(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Recalls that as a consequence of a separate sanitary and phytosanitary (SPS) regulatory regime following its withdrawal from the EU, the UK is subject to all EU rules applicable to third countries not dynamically aligning with EU legislation; takes note of the fact that post-Brexit, the EU and UK remain important trading partners for agri-food products and that from January to October 2022, EU exports to the UK reached EUR 39.5 billion, a 15 % increase compared to 2021, while the UK was the third most important partner for the EU in terms of agri-food imports8 ; calls on the UK Government to consider an SPS agreement, as an alignment of this type woulexpedite the transition to a digital system for sanitary and phytosanitary certificates, and to consider an SPS agreement, as an alignment of this type would reduce the administrative and financial burden on both sides, and facilitate EU-UK agri-food trade, including trade between Great Britain and Northern Ireland; _________________ 8 ‘Monitoring EU agri-food trade’, European Commission, Directorate- General for Agriculture and Rural Development, Brussels, 2022, https://agriculture.ec.europa.eu/system/files /2023-01/monitoring-agri-food-trade- oct2022_en_1.pdf.
Amendment 58 #
2022/2188(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Commends the ongoing work of the Trade Partnership Committee and of the specialised and trade-specialised committees, and urges the parties to fully explore their potential as bilateral bodies established under the TCA, which can discuss subjects of shared strategic importance and address all implementation issues in a direct manner; invites the Commission to continue the good practice of keeping the European Parliament fully and immediately informed of the ongoing work of and developments in these committees;
Amendment 60 #
2022/2188(INI)
Draft opinion
Paragraph 10
Paragraph 10
10. Recognises that the close economic links between Ireland and Northern Ireland will continue despite the latter being part of a designated third country; supports an acknowledgement of these economic links, including with respect to the supervision of transactions between both jurisdictions; calls for measures to ensure that such links are not disrupted by any changes in regulatory or legal frameworks; emphasises the importance of maintaining close economic ties and minimising disruption in the aftermath of Brexit, particularly with respect to this relationship;
Amendment 64 #
2022/2188(INI)
Draft opinion
Paragraph 11
Paragraph 11
11. Recognises that following the entry into force of the TCA, a number of financial services firms based in London announced intentions to establish a new presence in and relocate some assets to the EU; notes that estimates suggest that 44 % of the UK’s largest financial services firms have announced plans to move some staff or operations7 , however only 7 000 jobs have been relocated outside of London thus far – far below the initial estimates of 75 0008 ; supports the efforts of the Member States to seek to attract post- Brexit business investment and notes that several EU cities have been the focus of post-Brexit financial service industry investment, including Paris, Frankfurt, Amsterdam, Luxembourg and Dublin; acknowledges that this fragmentation means that the benefits of a concentrated ecosystem and cluster effect that characterise London have not yet been recreated in the EU; _________________ 7 Study – ‘Recent trends in UK financial sector regulation and possible implications for the EU, including its approach to equivalence’, European Parliament, Directorate-General for Internal Policies, Policy Department for Economic, Scientific and Quality of Life Policies, 8 February 2023. 8 EY, ‘EY Financial Services Brexit Tracker: Movement within UK financial services sector stabilises five years on from Article 50 trigger’, 29 March 2022, London; European Affairs Committee of the House of Lords, ‘1st Report of Session 2022–23: The UK-EU relationship in financial services’, 23 June 2022.
Amendment 65 #
2022/2188(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Calls on the Commission to keep the European Parliament fully and immediately informed about all complications that may jeopardise the level playing field and fair competition for EU businesses and workers;
Amendment 81 #
2022/2188(INI)
Draft opinion
Paragraph 14
Paragraph 14
14. Strongly reiterates the importance of protecting the Good Friday Agreement and supporting peace and reconciliation in Northern Ireland; recalls the UK Government’s threatened actions, which would be deemed to be in violation of the TCA, particularly with respect to the Northern Ireland Protocol as contained in the Northern Ireland Protocol Bill 2022, in which the UK Government proposed removing the jurisdiction of the Court of Justice of the EU over the Protocol, and for which the Commission commenced infringement proceedings against the UK; recognpraises that an agreement has been reached on the Windsor Framework10, which will ensure a flexible but effective implementation of the NI Protocol and respect for the Belfast/Good Friday Agreement while safeguarding the integrity of the EU’s single market, and that the British Government has announced its intention to suspend work on the Northern Ireland Protocol Bill and to allow it to lapse. _________________ 10 His Majesty’s Government, ‘The Windsor Framework: A new way forward’, February 2023.
Amendment 84 #
2022/2188(INI)
Draft opinion
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Calls on the Commission, in coordination with the European Central Bank, the European Supervisory Authorities, the European Systemic Risk Board and the Single Resolution Board, to keep the Parliament fully informed on the monitoring of the implementation of the TCA and of all relevant market developments in financial services, in order to identify potential market disruptions and threats to financial stability, market integrity and investor protection in a timely manner.
Amendment 71 #
2022/2172(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Notes that income from capital is often less taxed than income from labour in most Member States; notes that the variety of tax rates on capital gains has led to a fragmentation on the Single Market and created opportunity for aggressive tax planning strategies; considers that coordination of capital gains taxation would allow for more tax neutral investments decisions; calls on the Commission to assess the feasibility of a minimum capital gain tax at EU level as well as its potential for becoming an EU own resource;
Amendment 72 #
2022/2172(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Stresses that, if the negotiations regarding BEFIT are not concluded in a reasonable timeframe, the Commission should consider other sources of revenue from large corporations that operate in the single market; highlights, in this regard, the possibility of implementing a single market levy;
Amendment 9 #
2022/2150(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the EU labour market has proved particularly resilient, with an additional two million people in employment, leading to a record low unemployment rate of 6.2 % in 2022; whereas according to the Commission’s autumn economic forecast the public sector was a key contributor to the increase in employment; whereas despite labour market tightness wage growth has remained moderate and has failed to keep up with inflation, implying real wage losses of, on average, 8% between Q4 2020 and Q2 2022 in the Euro Area according to ECB research13a; whereas the unemployment rate is expected to increase slightly in 2023 (6.5 %), before marginally coming down again in 2024 (6.2 %); _________________ 13a https://www.ecb.europa.eu/press/blog/date /2022/html/ecb.blog221125~d34babdf3e.e n.html
Amendment 19 #
2022/2150(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas inflation has a differentiated impact across income groups, with low-income groups suffering proportionally more especially as inflation is mainly driven by price developments in essential goods that cannot be substituted and make up a relatively larger share of the consumption basket of low-income households; whereas such differentiated impacts cause a veritable cost-of-living crisis for parts of the population that poses challenges to social cohesion;
Amendment 26 #
2022/2150(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas inflation and economic forecasts are operating under the conditions of heightened uncertainty, with key risks, especially to growth, continuing to be pitched to the downside; whereas such uncertainty compels the EU and Member State governments to remain vigilant and to take rapid action if risks materialise;
Amendment 46 #
2022/2150(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Notes that the European Systemic Risk Board has issued a warning on 22 September 2022 calling for heightened awareness with regards to financial stability risks resulting from sharply falling asset prices; is concerned that rising mortgage rates and the deterioration in debt servicing capacity due to a decline in real household income may cause further distress for families and for financial markets;
Amendment 60 #
2022/2150(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that while the primary objective of the European Central Bank (ECB) is to maintain price stability, the primary objective of the Union as a whole should be to minimise the impact of current turbulences on the real economy, thereby defending the wellbeing of its citizens and preserving its production structure and the international competitiveness of its companies; underlines, in this regard, the importance of adequate and coordinated fiscal, structural and regulatory policies that complement the ECB’s monetary policy actions, which are also capable of supporting household incomes and providing targeted support to companies suffering from supply bottlenecks and high energy costs; notes that further increases of the ECB’s key policy rate or quantitative tightening may further contract economic activity;
Amendment 64 #
2022/2150(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Welcomes the European Commission’s call on Member States to deliver targeted measures to offset the impact of high energy prices on vulnerable households and companies; agrees with the European Commission in stressing that such measures should maintain incentives for energy savings; recalls that Member States find themselves in starkly diverging positions regarding the fiscal space available to them; notes that this situation entails the risk of furthering divergence between Member States as the energy crisis continues;
Amendment 67 #
2022/2150(INI)
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2 b. Notes the increased need for fiscal space in most Member States; underlines that in periods of increasing interest rates, Member States should also consider raising more revenues on higher earners or on industries and firms that are highly profitable; notes how a healthy balance between government revenues and expenditures is also necessary to reduce legacy debt and to build up buffers in times of economic recovery;
Amendment 69 #
2022/2150(INI)
Motion for a resolution
Paragraph 2 c (new)
Paragraph 2 c (new)
2 c. Calls for the general escape clause under the Stability and Growth (SGP) pact to remain activated as long as Member States are recovering from the crises caused by the pandemic and the Russian war of aggression against Ukraine; notes that the policy leeway created by the general escape clause is necessary to allow Member States to strengthen their competitiveness as well as their economic and social resilience under the current circumstances and within the constraints of the SGP in its current form;
Amendment 105 #
2022/2150(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Recalls that since 2017, some provisions in Member States’ bodies of national legislation were assessed to determine whether they facilitated aggressive tax planning and that, since 2019, six Member States received Country Specific Recommendations (CSRs) aiming at addressing features of the tax system that may facilitate aggressive tax planning; notes that those Member States made commitments in their NRRPs to reform their tax policies in order to fight aggressive tax planning; welcomes the fact that some jurisdictions already implemented some of those changes; however regrets the delays in implementation in others; regrets that, in the Recommendations of the Commission for 2022, only two Member States still received a CSR on aggressive tax planning while some have not implemented any change yet but still did not receive the Recommendation;
Amendment 114 #
2022/2150(INI)
Motion for a resolution
Paragraph 7 – point a
Paragraph 7 – point a
(a) the six-pillar structure, ensuringwhich was developed as part of the ordinary legislative procedure and hence under the full involvement of the European Parliament and that ensures that Member States give adequate consideration in their reform and investment agendas to all the relevant dimensions for making EU economies and societies more prosperous, sustainable, inclusive, competitive and resilient;
Amendment 131 #
2022/2150(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
Amendment 132 #
2022/2150(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Believes that future reforms of the European Semester should draw on the lessons learned as part of Next Generation EU and the RRF, especially as regards more transparent and democratic processes relating to the definition of policy objectives, the conduct of policy coordination as well as in relation to the collaborative approaches to the definition of reforms and investment projects that were pioneered between the European Commission and Member States; considers that such reforms should also incorporate lessons learned from the temporary establishment of the Support to mitigate Unemployment Risks in an Emergency (SURE) instrument;
Amendment 167 #
2022/2150(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Stresses that the revised regulatory framework must ensure that Member States have sufficient leeway to deliver decisive crisis-resolution measures when they are needed; is of the opinion that implementation of such measures should not require the suspension of regulatory provisions by means of escape clauses; notes that, in the future, the activation of escape clauses should remain a measure of last resort;
Amendment 168 #
2022/2150(INI)
Motion for a resolution
Paragraph 11 b (new)
Paragraph 11 b (new)
11 b. Highlights the need for common criteria that ensure, despite more country- specific flexibility in debt reduction, that all Member States are assessed according to the same standards, are treated equally, and that policy outcomes are predictable; notes that such common criteria should include criteria for the definition of Member States’ debt reduction paths; stresses that debt reduction should be delivered in a growth-friendly way and that underlying regulatory criteria should be defined in relation to Member States’ output and expenditure growth;
Amendment 169 #
2022/2150(INI)
Motion for a resolution
Paragraph 11 c (new)
Paragraph 11 c (new)
Amendment 170 #
2022/2150(INI)
Motion for a resolution
Paragraph 11 d (new)
Paragraph 11 d (new)
11 d. Notes that the Commission's Communication puts debt sustainability analyses (DSAs) at the centre of the fiscal rules and suggests using them to determine multi-year fiscal-structural plans; expresses concerns that DSAs would not be able to project future debt developments with certainty; underlines that the usage of DSAs still requires estimating unobservable variables, thereby undermining transparency and hampering ownership and predictability, and thus leaving space for discretion; stresses that the result of a DSA may create self-fulfilling prophecies, by encouraging investors to buy/sell bonds of the respective Member States, thereby influencing outcomes; observes that since there is not one unique set of assumptions, they should be aligned with the objectives of the EU-Treaties as regards growth and convergence, and they should be agreed upon in a political process, ideally by the European Parliament and the European Council;
Amendment 193 #
2022/2150(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Notes that the Commission's communication acknowledges the potential inconsistencies between the application of the fiscal rules and the recommendations under the Macroeconomic Imbalance Procedure (MIP), and provides for the inclusion of reforms and investments required to correct the imbalances under the MIP in the national plans; regrets that the Communication does not encompass any instrument that allows for the correction of such inconsistencies;
Amendment 208 #
2022/2150(INI)
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13 b. Recalls that the RRF is expected to end in late 2026; recalls that there is a near-undisputed consensus on the need for a degree of fiscal centralisation for currency unions, such as the Economic and Monetary Union, to be viable in the long-run, which was most recently reiterated by the International Monetary Fund13d; _________________ 13d International Monetary Fund, DP/2022/014, Reforming the EU Fiscal Framework - Strengthening the Fiscal Rules and Institutions
Amendment 209 #
2022/2150(INI)
Motion for a resolution
Paragraph 13 c (new)
Paragraph 13 c (new)
13 c. Considers that a permanent fiscal capacity at EU level could, if designed appropriately, play a crucial role in maintaining sufficiently high levels of strategic investment, resolving the inconsistencies between the application of the fiscal rules and the MIP, and ensuring an appropriate fiscal stance at the aggregate level; calls for the timely establishment of a permanent instrument of a significant volume to succeed the RRF prior to its expiration at the end of 2026; considers that such an instrument should comprise both an investment and a stabilisation function;
Amendment 214 #
2022/2150(INI)
Motion for a resolution
Paragraph 13 d (new)
Paragraph 13 d (new)
13 d. Considers that such an instrument should support national reform and investment initiatives towards common EU priorities, especially in the context of the social-ecological transformation and with regard to MIP-related measures for which Member States lack the fiscal space at national level under the applicable fiscal framework;
Amendment 215 #
2022/2150(INI)
Motion for a resolution
Paragraph 13 e (new)
Paragraph 13 e (new)
Amendment 216 #
2022/2150(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recalls that the better law-making agreement reiterates that the European Parliament and the Council are to exercise their powers as co-legislators on an equal footing and that the Commission therefore needs to treat them equally; stresses that the European Parliament should therefore be fully involved in the reform of the economic governance framework as well as the future conduct of economic governance in the EU, including in the establishment and management of fiscal instruments; stresses the role and responsibility of national parliaments;
Amendment 221 #
2022/2150(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Recognises the need for sufficient public revenue to ensure the sustainability of public finances in times of pressing investment needs and frequent economic shocks; highlights the various observations made by the European Commission as part of the European Semester on the tax mix; considers as necessary a shift from labour and consumption taxation towards the taxation of environmentally harmful practices, speculative behaviours, the windfall and/or excess profits of multinational corporations, and capital; stresses that further action to counter tax avoidance and evasion in the EU and in global fora is a necessary complement to the reform of the EU economic governance framework;
Amendment 3 #
2022/2147(INI)
Draft opinion
Recital A a (new)
Recital A a (new)
A a. whereas the outermost regions are especially vulnerable to negative impacts of climate change, like extreme weather events, rising sea levels or heat waves; whereas the outermost regions have an exceptionally high biodiversity value and focus should be put in protecting and restoring ecosystems;
Amendment 4 #
2022/2147(INI)
Draft opinion
Recital A b (new)
Recital A b (new)
A b. whereas the decarbonisation of the maritime and aviation sector is necessary to achieve the goals set out in the European Green Deal and the European Climate Law, sufficient time to adapt to such a transition should be given to the outermost regions;
Amendment 5 #
2022/2147(INI)
Draft opinion
Recital B
Recital B
B. whereas the outermost regions are highly dependent on transport, especially air and maritime connections, with additional costs with regard to the import and export of goods and the transport of passengers, and that, in the case of archipelagos, double insularity exacerbates these challenges;
Amendment 9 #
2022/2147(INI)
Draft opinion
Recital B a (new)
Recital B a (new)
B a. whereas the blue economy sector plays a vital role in the economic growth and prosperity of outermost regions, that, due to their insularity, are especially dependent on blue economy-based activities, such as maritime transport, shipping, and tourism, with ports being important hubs for the transport of goods and passengers;
Amendment 11 #
2022/2147(INI)
Draft opinion
Recital B b (new)
Recital B b (new)
B b. whereas the tourism sector is highly important for the economies of these regions and that boosting this sector can have positive repercussions in terms of employment levels and economic growth;
Amendment 14 #
2022/2147(INI)
Draft opinion
Recital C a (new)
Recital C a (new)
C a. whereas the COVID-19 pandemic had severe negative impacts in the economies of the outermost regions, in particular sectors related with blue economy, of which outermost regions are highly dependent; whereas coastal and maritime tourism represents 60% of the employment in the blue economy and which needs highly qualified and skilled professionals; whereas the promotion of these “blue jobs” can boost the tourism sector and help in raising employment levels in the outermost regions;
Amendment 20 #
2022/2147(INI)
Draft opinion
Recital D
Recital D
D. whereas the outermost regions, in the climate and energy transition, have great potential to develop key sectors such as sustainable mobility, renewable energy, and ecotourism;
Amendment 22 #
2022/2147(INI)
Draft opinion
Paragraph -1 (new)
Paragraph -1 (new)
-1. Reiterates the need to ensure territorial cohesion of all outermost regions through maritime and air transport, which should not be affected by disproportionate high costs whether for passengers or goods;
Amendment 28 #
2022/2147(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. PHighlights that, due to their particularities and needs, outermost regions need additional support to guarantee a just green transition, especially in the policies of the Fit for 55 package; points out that, taking into account the dependence of the outermost regions on air connections, flights from thbetween an aerodrome located in an outermoset regions to the mainland of of a Member State and an aerodrome located in anotheir respective Member States should be exempt from the EU Emissions Trading System until 2030,gion of the EEA and flights performed between two aerodromes located within the same outermost region should be exempt from the EU Emissions Trading System until 2030; points out that, due to the dependence of these regions on maritime transport, a similar exemption until 2030 should apply to all voyages between a port located in an outermost region of a Member State and a port located in the same Member State, including ports within and between the outermost regions of the same Member State; and calls on the Commission to take into account the regions’ specific characteristics in the revision of all relevant legal acts, including the impacts of lifting such exemptions;
Amendment 41 #
2022/2147(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Calls on the Commission to establish a specific transport programme of options, similar to the POSEI model, in addition to existing EU programmes, as a supplementary support to the outermost regions to face any potential negative impacts in the sector and increase in the costs of transport of passengers and goods;
Amendment 45 #
2022/2147(INI)
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. Calls on the Commission and Member States to support the development of sustainable mobility in the outermost regions, promoting alternatives to fossil fuels and the modernisation and decarbonisation of port and airport infrastructures, including through an increase in investments;
Amendment 46 #
2022/2147(INI)
Draft opinion
Paragraph 3 c (new)
Paragraph 3 c (new)
3 c. Calls on the Commission, Member States and regional authorities to promote and ensure the diversification of transport modes, supporting the establishment of necessary infrastructures, such as bicycle and pedestrian lanes, taking into account outermost regions’ specificities, such as their orography;
Amendment 50 #
2022/2147(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Encourages the Commission to support investments in tourism, to ensure EU funding for its recovery and sustainable development and to provide the sector with information on funding opportunities; recognises, in particular, the potential of ecotourism to reduce the environmental footprint of the sector, ensuring the protection of our climate and biodiversity, while contributing to the socioeconomic development of local communities in the outermost regions;
Amendment 54 #
2022/2147(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Calls on the Commission to present an EU common policy on tourism that should ensure the resilience of the sector against the impacts of future pandemics or any kind of events that put in risk tourism activities, such as climate change, and should take into account the particular case of outermost regions;
Amendment 57 #
2022/2147(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls on the Member States to unlock the potential of the outermost regions through appropriate investments and reforms and by supporting the green and digital transitions.; highlights that the outermost regions can be important players in these transitions, with the potential of being hubs for green and digital projects, towards an economic model that values sustainability and innovation;
Amendment 59 #
2022/2147(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Highlights the need to prepare contingency plans in the outermost regions for the transport sector, with a view to ensuring its resilience, especially in terms of infrastructure and public services, taking into account the impacts caused by the COVID-19 pandemic and the subsequent lessons learned, to avoid any future disruptions on essential services for passengers and goods, in particular in the case of sanitary crises, extreme weather events or conflicts such as the one on Ukraine;
Amendment 61 #
2022/2147(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Highlights that the potential of the outermost regions can only be achieved through the cooperation of different stakeholders, including European, national, regional and local authorities, economic and social agents, the civil society, the academic community and nongovernmental organisations; highlights, in this regard, the positive contribution of the Conference of Presidents of Outermost Regions to identify priorities and challenges faced by these regions and incentivise further action; points out that collaboration between outermost regions is also essential to ensure an holistic approach which answers to their specific needs and the sharing of best practices;
Amendment 1 #
2022/2061(INI)
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
— having regard to the Commission proposal of 24 November 2015 for a regulation of the European Parliament and of the Council amending Regulation (EU) No 806/2014 in order to establish a European Deposit Insurance Scheme (COM(2015)0586),
Amendment 3 #
2022/2061(INI)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
— having regard to the Commission communication of 16 December 2020 on tackling non-performing loans in the aftermath of the COVID-19 pandemic (COM(2020)0822),
Amendment 5 #
2022/2061(INI)
Motion for a resolution
Citation 8 b (new)
Citation 8 b (new)
— having regard to The Five Presidents’ Report of 22 June 2015 entitled ‘Completing Europe’s Economic and Monetary Union’,
Amendment 7 #
2022/2061(INI)
Motion for a resolution
Citation 12 a (new)
Citation 12 a (new)
— having regard to the ECB recommendation of 15 December 2020 on dividend distributions during the COVID- 19 pandemic,
Amendment 14 #
2022/2061(INI)
Motion for a resolution
Citation 28 a (new)
Citation 28 a (new)
— having regard to the European Supervisory Authorities’(ESAs)' ‘Joint Committee Report on Risks and Vulnerabilities in the EU Financial System’, JC 2022 09 of March 2022,
Amendment 15 #
2022/2061(INI)
Motion for a resolution
Citation 28 b (new)
Citation 28 b (new)
— having regard to the EU Tax Observatory Working Paper 'Tax Planning by European Banks' of December 2022,
Amendment 16 #
2022/2061(INI)
Motion for a resolution
Citation 29
Citation 29
— having regard to the declaration signed by the Chair of Parliament’s Committee on Economic and Monetary Affairs, and the respective coordinators for six political groups (EPP, S&D, RE, Greens, ECR and The Left) of 7 December 2022 on the European deposit insurance scheme,
Amendment 17 #
2022/2061(INI)
Motion for a resolution
Citation 30 a (new)
Citation 30 a (new)
— having regard to its resolution of 25 March 2021 on strengthening the international role of the euro,
Amendment 18 #
2022/2061(INI)
Motion for a resolution
Citation 30 b (new)
Citation 30 b (new)
— having regard to the Basel Committee on Banking Supervision standards on the Prudential treatment of crypto-asset exposures, of December 2022,
Amendment 24 #
2022/2061(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the Banking Union (BU) currently consists of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM); whereas although the Deposit Guarantee Schemes Directive4 (DGSD) sets out high minimum standards in the area of deposit protection, the BU remains unfinished because thewhile lacking the establishment of its third pillar – the European deposit insurance scheme (EDIS) – has not yet been establishexposing the financial sector to risks that could be avoided; _________________ 4 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (OJ L 173, 12.6.2014, p. 149).
Amendment 28 #
2022/2061(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas an agreement was reached on the creation of a backstop for the Single Resolution Fund (SRF), but its actual implementation is still missing;
Amendment 34 #
2022/2061(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the Russian aggression against Ukraine and its economic and social consequences will havehas a direct and indirect impact on the EU banking sector;
Amendment 39 #
2022/2061(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas, despite the challenges caused by the pandemic and the war in Ukraine, the aggregate non-performing loans (NPL) ratio fell further to 2.29% in the third quarter of 2022; whereas this was supported by credit moratoria and renegotiation of credit with customers;
Amendment 42 #
2022/2061(INI)
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. whereas fifteen years after the financial crisis, the ‘too big to fail’ and ‘too interconnected to fail’ problems remain insufficiently addressed;
Amendment 59 #
2022/2061(INI)
Motion for a resolution
Recital H
Recital H
H. whereas the finalisation of the anti- money laundering (AML) package should strengthen AML rules, establish a European supervisory authority for AML purposes and ensure a consistent and effective implementation of these rules;
Amendment 68 #
2022/2061(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
Amendment 69 #
2022/2061(INI)
Motion for a resolution
Recital I b (new)
Recital I b (new)
I b. whereas the European banking sector largely remains the main provider of financing of companies, in contrast with other jurisdictions, where capital markets account for a considerable share of financing to companies;
Amendment 70 #
2022/2061(INI)
Motion for a resolution
Recital I c (new)
Recital I c (new)
I c. whereas the development of a CMU requires the establishment of common rules and effective tools that reduce the internal market fragmentation, facilitate access to alternative financing means, and prevent capital flight and tax avoidance schemes;
Amendment 77 #
2022/2061(INI)
J. whereas completing the BU will breakstrongly contribute to reduce the sovereign-bank doom loop;
Amendment 83 #
2022/2061(INI)
Motion for a resolution
Recital J a (new)
Recital J a (new)
J a. whereas the Transmission Protection Instrument (TPI) established by the ECB can mitigate risks of fragmentation and financial instability;
Amendment 86 #
2022/2061(INI)
Motion for a resolution
Recital J b (new)
Recital J b (new)
J b. whereas a more stable, competitive and convergent Economic and Monetary Union requires the completion of the Banking Union with its third pillar of a fully-fledged European Deposit Insurance Scheme, a deep and fully functional Capital Markets Union, a permanent euro area budgetary instrument, a revised fiscal framework and more effective cooperation and coordination on tax affairs;
Amendment 89 #
2022/2061(INI)
Motion for a resolution
Recital J c (new)
Recital J c (new)
J c. whereas the raising of interest rates by the ECB has been immediately reflected in the interest paid by households and companies to banks, thus significantly increasing banks’ profits, while it negatively affected households’ and companies’ capacity to pay their loans;
Amendment 97 #
2022/2061(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that the banking sector, in conjunction with public support measures, haspublic support measures coupled with the ECB's monetary policy decisions and regulatory adjustments - which allowed for loan repayment moratoria and credit renegotiation - acted as a shock absorber for the economic crisis triggered by the COVID- 19 pandemic; acknowledges that strengthening the prudential requirements implemented after 2008 has improved the EU banking sector’s resilience;
Amendment 101 #
2022/2061(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Recalls that the Banking Union (BU) is an essential complement to the Economic and Monetary Union (EMU) and the internal market, which aligns responsibility for supervision, resolution and funding at EU level and forces banks across the euro area to abide by the same rule book; welcomes the significant progress made since the financial crisis of 2008 through the establishment of the SSM and the SRM; highlights that Europe’s banks are in a stronger position to withstand financial shocks, and resolution mechanisms are in place to ensure that failing banks can be wound up without the use of taxpayers’ money; calls for the completion of the Banking Union, most notably through the implementation of the European Deposit Insurance Scheme (EDIS);
Amendment 111 #
2022/2061(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely manner; stresses the need for the EU to transpose the Basel agreement as close as possible to these standards, in order to remain a credible and reliable international partner; welcomes the European Parliament’s political agreement on the CRR and CRD;
Amendment 121 #
2022/2061(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that the ECB has decided to raise its main interest rates from 0 % to 23 % for the main refinancing operation rate; alerts to the negative impact that such hikes have on the capacity of households and companies to pay their loans; reminds the social and economic downsides of a strict monetary tightening, and calls on the ECB to take such downsides into account when making monetary policy decisions; encourages banks to reflect increases in interest rates more accurately in their deposit interest, thus encouraging citizens to make savings;
Amendment 127 #
2022/2061(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Reminds that the inflationary environment was largely due to external factors, most notably the Russian war of aggression against Ukraine, namely its impact on energy, fertiliser and grain prices, and the disruption of supply chains resulting from the Covid-crisis, and not from low interest rates or excessive liquidity in financial markets;
Amendment 131 #
2022/2061(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the climate stress test conducted by the SSM in 2022 and takes note of the targets set for 2024; reiterates its concern with financial exposures stemming from climate risks;
Amendment 143 #
2022/2061(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the ongoing work by the ECB on the digital euro; looks forward to the Commission’s legislative proposal and the ECB Governing Council’s decision on the digital euro; points out that the digital euro must prioritise a high level of privacy, data protection, confidentiality of payment data, cyber resilience and security;
Amendment 153 #
2022/2061(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Highlights the role of the banking system in supporting the transition to a carbon-neutral economy; considers that the new geopolitical environment increases the urgency of this transition, most notably on clean energy production; underlines the utmost importance of making a socially just transition; reminds that the costs of this transition will be lower than the cost of inaction, as acknowledged by the ECB; encourages the ECB to assess the possibility of a differentiated rate for sustainable investments that contribute most to reducing inflationary pressures, such as those in energy efficiency and renewable energy production;
Amendment 159 #
2022/2061(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Encourages banks to take advantage of the opportunities offered by the digitalisation of the economy, while maintaining a high level of consumer and investor protection, especially for vulnerable groups with low digital or financial literacy levels; calls on the EBA to assess the best options to tackle artificial complexity and the exclusion of vulnerable groups from using basic banking services; stresses the need for further investments and research to develop innovative ways to bolster the cybersecurity of the banking sector;
Amendment 161 #
2022/2061(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Welcomes the creation of Next Generation EU and emphasises its important role in the economic recovery after the Covid-crisis and how it must serve as an opportunity to enhance public and private investments and support the modernisation of the economy; stresses the importance of maintaining a macroeconomic stabilisation tool for the euro area;
Amendment 166 #
2022/2061(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Restates the importance of a European safe asset in the euro area as a way to help stabilise financial markets and allow banks to reduce the exposure of their balance sheets to national sovereign debt; considers that NextGeneration EU provides high-quality, low-risk European assets, allowing for a rebalancing of sovereign bonds on banks’ balance sheets; highlights the importance of preserving the availability of safe assets in a permanent manner;
Amendment 168 #
2022/2061(INI)
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8 c. Welcomes the recent approval of the directive on improving the gender balance among directors of companies listed on stock exchanges, and related measures, following several years without progress; encourages all EU financial institutions to comply with the objectives of this legislation as soon as possible, thus contributing to gender balance in this sector;
Amendment 169 #
2022/2061(INI)
Motion for a resolution
Paragraph 8 d (new)
Paragraph 8 d (new)
8 d. calls on EU governments, institutions and bodies to achieve gender balance as soon as possible; reiterates the Parliament’s commitment not to take into account shortlists of candidates where gender balance has not been respected;
Amendment 172 #
2022/2061(INI)
9. Notes that since the beginning of 2022, the Common Equity Tier 1 ratio of SSM banks has decreased to 14.9674 % and the liquidity coverage ratio has also decreased to 164.362.03 %5 ; welcomes that the stock of non-performing loans in banks’ balance sheets has continued to decrease; underlines that banks should keep sufficient capital and liquid assets on hand to cope with the economic repercussions of the Russian war; _________________ 5 ECB, ‘Publication of supervisory data’, accessed 15 December 2022.
Amendment 176 #
2022/2061(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Notes the ECB review of its supervisory priorities for the next three years, which are (1) Strengthening resilience to immediate macro-financial and geopolitical shocks, (2) Addressing digitalisation challenges and strengthening management bodies' steering capabilities, and (3) Stepping up efforts in addressing climate change;
Amendment 182 #
2022/2061(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that the banking sector’s profitability has increased over the past year; highlights the importance of using these profits to build buffers and safeguard the stability of the financial system;
Amendment 184 #
2022/2061(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Stresses that banks under the ECB's supervision significantly reduced the payment of dividends following the ECB’s recommendation for suspension and limitation of said payments for 2020 and 2021, respectively; calls on the ECB to issue a similar recommendation taking into account the need for the financial sector to build up buffers and to prevent a deterioration of banks’ balance sheets;
Amendment 193 #
2022/2061(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. NoteRecalls that banks’ exposuthe main objectives of the BU ares to domestic sovereign debt remain high; recalls that one of the main objectives of the BU is to break the link between bank and sovereign risksguarantee financial stability, protect the tax-payer and allow for a higher degree of European market integration; notes, in this regard, that banks' exposures to domestic sovereign debt remain high;
Amendment 222 #
2022/2061(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Reiterates that bank-like systemic risks can occur where credit intermediation takes place in an environment where regulatory standards and supervisory oversight are looser than for regular banks;
Amendment 226 #
2022/2061(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses the risks stemming from banks’ exposures to the shadow-banking sector; underlines the systemic risks resulting from interconnections and complexity, underpinning the ‘too big to fail problem’; calls on the Commission to assess the need to better regulate the shadow-banking sector and to put forward, where appropriate, legislative proposals;
Amendment 236 #
2022/2061(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes that crypto-assets create new challenges for banks; welcomes the forthcoming adoption of the regulation on markets in Crypto-assets in this regardand the provisional agreement on the regulation on information accompanying transfers of funds and certain crypto-assets in this regard; notes the publication in December 2022 of the Basel standards for the prudential treatment of crypto-asset exposures; calls on the Commission to swiftly submit a legislative proposal to the European Parliament and the Council to adopt these standards into EU law, where appropriate;
Amendment 250 #
2022/2061(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Is concerned by the lack of a mechanism in the Banking Union to ensure that liquidity can be provided to a bank in the event of a resolution in order to ensure the smooth continuity of services and the stability of financial markets, and calls on the Commission to address this gap without further delay;
Amendment 254 #
2022/2061(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Takes note of the SRB’s work programme for 2023; emphasises that the Single Resolution Fund (SRF) should be fully filled up and that all banks should be fully resolvable by the end of 2023; highlights the SRF’s crucial role in preventing bank bailouts by tax payers; notes that further progress is needed by all banks;
Amendment 255 #
2022/2061(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Welcomes the Eurogroup agreement to introduce a backstop to the SRF, in the form of a revolving credit line from the European Stability Mechanism (ESM); regrets that its implementation was not reached in 2022, as envisioned by said agreement; recalls of its importance in strengthening the crisis management framework and as an important step towards completing the Banking Union; urges, therefore, the swift implementation of the SRF backstop;
Amendment 256 #
2022/2061(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19 b. Regrets that Member States continue to act outside the Community framework, undermining Parliament’s role as co-legislator; asks to be kept informed at all times of the ongoing discussions at the level of the Eurogroup and of the High-level Working Group on the EDIS;
Amendment 261 #
2022/2061(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Points out the need to address the loopholes identified in the resolution framework; asks that the public interest assessment be further specified and harmonised, so that the choice of the resolution strategy to be followed in case a bank faces difficulties follows a more consistent and predictable manner; calls for greater harmonisation of the treatment of small and medium-size banks; stresses that the resolution framework and State aid rules should be consistent; notes that currently the setting of the minimum requirement for own funds and eligible liabilities (MREL) level is decided by the SRB on a case-by-case basis;
Amendment 270 #
2022/2061(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. CRegrets that the Commission has failed to propose the legislative initiative on crisis management and deposit insurance framework (CMDI) in the timeframe it committed itself to the Commission Work Programme 2021; calls on the Commission to put forward an ambitious and comprehensive review of the crisis management and deposit insurance framework; recalls that protecting taxpayer money is one of the main objectives of the resolution framework;
Amendment 283 #
2022/2061(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Regrets that the BU is still incomplete owing to the absence of an EDIS; recognises that the EDIS would improve protection for depositors in the EU; recalls that the EDIS is the most tangible element of the BU for EU citizens; considers that the EDIS would provide an additional safeguard to host Member States and cwould therefore contribute to addressing home/host issues and foster deeper integration ;
Amendment 293 #
2022/2061(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. AHighlights that, despite the implication of the Covid-19 pandemic and the war in Ukraine, the non-performing loans (NPL) ratio decreased to 2.29%; acknowledges the significant progress made regarding the reduction of risks in the banking sector; regrets, on the other hand, the limited progress regarding risk sharing; calls for a risk sharing mechanism, while continuing the risk reduction trend; recalls the analysis of the SSM, stating that 'the implementation of EDIS should not be linked to further risk reduction benchmarks';
Amendment 301 #
2022/2061(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Points out that any EDIS should take into account clear rules for the participation of non-euro-area Member States; encourages the Eurogroup to work in inclusive format to finalise on a consensual basis a time-bound and action driven work plan on the way towards its completion;
Amendment 308 #
2022/2061(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Welcomes the statement by the negotiation team of the Parliament announcing the reopening of discussions on the EDIS at Parliamentnd their call to the Commission that the CMDI should not be considered as a replacement for a EDIS; calls for the co-legislators to reach an agreement on the file before the end of the legislative period;
Amendment 310 #
2022/2061(INI)
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26 a. Supports the joint declaration signed by the Chair of the Parliament’s Committee on Economic and Monetary Affairs, and the respective coordinators for six political groups (EPP, S&D, RE, Greens, ECR and The Left) of 7 December 2022 on the European Deposit Insurance Scheme; reiterates its call for the Commission not to retract its 2015 EDIS proposal, which should remain on the table as the basis for restarting discussions; reiterates its call urging the Council to end the stalemate that has blocked progress for years and to work constructively with the Parliament to reach an agreement on EDIS;
Amendment 1 #
2022/2051(INL)
Draft opinion
Paragraph -1 (new)
Paragraph -1 (new)
-1. Welcomes the final report on the final outcome of the Conference which includes 49 proposals1a and which was presented to the Presidents of the three institutions on 9 May 2022; notes that several proposals are to be considered of an economic nature and highlights that some recommendations could also be followed up in the framework of the current Treaties; notes that some of them would require treaty change to be fully implemented; _________________ 1a Conference on the Future of Europe - Report on the Final Outcome, May 2022
Amendment 2 #
2022/2051(INL)
Draft opinion
Paragraph -1 a (new)
Paragraph -1 a (new)
Amendment 15 #
2022/2051(INL)
Draft opinion
Paragraph 2
Paragraph 2
2. Supports an economic governance framework that ensures stability, full employment, strategic and sustainable investments, democratic accountability and ownership, and fiscal policies and instruments to counteract shocks; Notes that the Conference on the Future of Europe discussions highlighted the strong demand of a deep review of EU's economic governance and the European Semester, in order to ensure that the green and digital transitions, social justice and social progress go hand in-hand with economic competitiveness; reminds that the Parliament3a agreed to an urgent reform of the Union’s economic governance architecture, including simpler and clearer fiscal rules and a framework more conducive to long-term economic growth; _________________ 3a European Parliament INI report of 8 July 2021 on the review of the macroeconomic legislative framework for a better impact on Europe’s real economy and improved transparency of decision- making and democratic accountability (2020/2075(INI))
Amendment 25 #
2022/2051(INL)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Stresses the importance of the EU economic governance framework to enable governments to promote public investment and ensure debt sustainability; recalls that the Economic and Monetary Union cannot function smoothly without a fiscal capacity at European level capable of providing a counter-cyclical stabilisation function and timely and adequate support in the event of economic shocks, calls for further consideration to common borrowing at EU level, with a view to creating more favourable borrowing conditions, while maintaining responsible fiscal policies at Member State; calls to transform the SGP into a Sustainable Development Pact, imbedded in a Sustainable Development cycle and enable the just, green and digital transition; calls for the development and completion of the Capital Markets Union and Banking Union, including a fully- fledged European Deposit Insurance Scheme (EDIS);
Amendment 26 #
2022/2051(INL)
Draft opinion
Paragraph 2 b (new)
Paragraph 2 b (new)
2 b. Calls for an assessment on the Maastricht criteria, including the deficit and public debt targets, benefiting from the experience accumulated over these last two decades of the single currency, namely on economic growth and public investment, and from the lessons learned from previous and current crisis, namely the most disruptive ones, such as the financial and sovereign crisis from early 2010´s, COVID pandemic and the War in Ukraine;
Amendment 34 #
2022/2051(INL)
Draft opinion
Paragraph 3
Paragraph 3
3. Calls for the economic governance to be redesigned taking into account lessons learned from the NGEU and SURE processesPoints out the importance of common tools to respond to economic shocks on an European level as learned from the previous financial crisis, the COVID-19 crisis and as well in the current economic shock due to the Russian aggression in Ukraine; Calls for the economic governance to be redesigned taking into account lessons learned from the NGEU and SURE processes; Calls for a stronger involvement of the European Parliament, on equal footing with the Council in defining the EU common priorities, and to ensure a proper scrutiny of its implementation;
Amendment 42 #
2022/2051(INL)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Highlights the positive impact and record of accomplishment of new EU instruments such as SURE and the design and operating model of the Recovery and Resilience Facility (RRF), that made it possible to maintain jobs and business and support the relaunch of the EU economy; calls for an assessment on the creation of a common permanent instrument, focused on investment and convergence, which can also act with a counter cyclical purpose, and based on a contractual basis for reforms; suggests the Treaties changes to be inspired by the SURE model for short term and targeted interventions and the RRF for long-term investment capacity to support structural strategic investments in Europe;
Amendment 59 #
2022/2051(INL)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Emphasizes the importance of placing the European Parliament on equal footing with the European Commission and the European Council regarding its participation on the European Central Bank’s Governing Council meetings (Article 284 (ex Article 113TEC)) and the General Council meetings;
Amendment 72 #
2022/2051(INL)
Draft opinion
Paragraph 5
Paragraph 5
5. Underlines the numerous impediments to essential EU tax initiatives over the past decades; calls for gradual change that would allow QMV in certain tax questionsStresses that, for the long term, Member States should consider the added value of transitioning to qualified majority voting, as recommended by the Conference on the Future of Europe.; underlines the numerous impediments to essential EU tax initiatives over the past decades; calls for gradual change that would allow QMV in certain tax questions, such as highly integrated tax policies (VAT) or tax reforms that are approved by Member States in the framework of international negotiations; demands that no country should be granted a permanent veto of proposed legislation on its own, notably on tax issues; and calls to refine the concept of qualified majority in Art.16 TUE in this framework, as well as the passerelle-clause rules, notably ART 48(7);
Amendment 88 #
2022/2051(INL)
Draft opinion
Paragraph 6
Paragraph 6
6. Highlights the new challenges for Union’s competition policy (Art101-109 TFUE), which require that the Treaty be amended to align it with the goals of the Green Deal and the pEuropean Pillar of sSocial rRights and support the Union´s strategic autonomy in key sectors, calls for a level playing field in the single market in order to promote a stronger, more sustainable and inclusive EU global competitiveness; stresses the need for the Parliament to play an active role in the political debate on competition policy, via proper involvement in experts groups and working parties and by shaping and assessing the Commission’s enforcement priorities;
Amendment 110 #
2022/2051(INL)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Reiterates that the EU needs to address its lack of political weight at international level due, inter alia, to the lack of coherence of its representation in international organisations, which could be improved by implementing measures to ensure the unified representation of the EU and the euro internationally in all its dimensions and policies;
Amendment 390 #
2022/2051(INL)
Paragraph 35
Amendment 7 #
2022/2037(INI)
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
— having regard to the IMF´s 2022 World Economic Outlook,
Amendment 17 #
2022/2037(INI)
Motion for a resolution
Citation 13 a (new)
Citation 13 a (new)
— having regard the European Parliament resolution of 19 May 2022 on the social and economic consequences for the EU of the Russian war in Ukraine – reinforcing the EU’s capacity to act (2022/2653(RSP)),
Amendment 18 #
2022/2037(INI)
Motion for a resolution
Citation 13 b (new)
Citation 13 b (new)
— having regard the European Pillar of Social Rights,
Amendment 29 #
2022/2037(INI)
Motion for a resolution
Recital C
Recital C
C. whereas according to the ECB projections of September 2022, headline inflation is expected to fall from 8.1 % in 2022, 5,5% in 2023 to 2.3 % in 2024;
Amendment 47 #
2022/2037(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Amendment 56 #
2022/2037(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Is deeply concerned by the unprovoked Russian invasion of Ukraine and by its repercussions for the European economyserious, long-lasting and unpredictable repercussions for the European economy and society, especially for the most exposed and vulnerable groups, such as lower-income households and SMEs;
Amendment 59 #
2022/2037(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Understands the current challenges, uncertainty and complex environment to drive the monetary policy. Notes that ECB has limited tools or influence to address an high inflation trend that is mainly supply driven. Welcomes the assurance by the ECB and its members to be ready to take the actions needed to safeguard financial stability;
Amendment 61 #
2022/2037(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Calls for ECB to make full use of the current policy tools at its disposal and consider all unconventional monetary policy instruments and flexibility within its mandate to ensure financial and macroeconomic stability and provide enough liquidity to serve the real economy and financial system;
Amendment 65 #
2022/2037(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Highlights that the statutory independence of the ECB, as laid down in the Treaties, is a prerequisite for it to fulfil its mandate; Highlights that central bank independence should be accompanied by a corresponding level of accountability;
Amendment 69 #
2022/2037(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Welcomes the Republic of Croatia as the 20th member country of the euro area; Calls on ECB for an adequate reflection on how to apply the current euro accession criteria during extraordinary, disruptive and uncertain events, such as Ukraine conflict, in order to proceed with Economic and Monetary Union integration. Calls on the ECB to promote the benefits of adopting the euro as an incentive for other non-euro members to join or speed up their efforts for future accession;
Amendment 80 #
2022/2037(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that fiscal, budgetary and monetary policies have reinforced each other during the pandemic; stresses that maintaining price stability today requires even closer coordination between fiscal, budgetary, monetary and structural policies, as addressing supply- side shocks requires greater supply-chain resilience and a shift away from fossil fuels;with the appropriate level of investment, and a shift away from fossil fuels; Notes that during COVID, all EU institutions and Member States worked together, swiftly, in a coordinated manner and within their mandates to tackle the social, economic and financial impacts of the crisis
Amendment 85 #
2022/2037(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Highlights that unprecedented crises demand unprecedented, innovative and bold decisions on monetary policy coupled with swift and broader coordination with the fiscal policy at EU and national level;
Amendment 86 #
2022/2037(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Stresses that sustainable growth, resilience and price stability cannot be achieved by monetary policy alone and that supportive and discretionary fiscal policy and socially balanced and productivity-enhancing reforms and investments are also necessary;
Amendment 95 #
2022/2037(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes President Lagarde’s statement that the current geopolitical crisis requires us to progress on EU fiscal integration; recalls that the Economic and Monetary Union cannot function smoothly without a fiscal capacity at European level to respond to externalcapable of providing a counter-cyclical stabilisation function and timely and adequate support in the event of economic shocks;
Amendment 97 #
2022/2037(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Highlights that monetary and fiscal policies should work together to help households and businesses most affected by the pandemic and the Russian war of aggression against Ukraine;
Amendment 98 #
2022/2037(INI)
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Recalls on the lessons learned and success of new EU instruments such as SURE and the design and operating model of the Recovery and Resilience Facility (RRF), that are currently on EU´s toolbox. Underlines the role of SURE model for short term and targeted interventions and the RRF as a long-term investment capacity to support structural strategic investments in Europe;
Amendment 99 #
2022/2037(INI)
Motion for a resolution
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Calls for support to develop and complete the unfinished infrastructure for the common currency, namely to deepen and complete the Economic and Monetary Union (EMU), the Banking Union and the Capital Markets Union (CMU). Given the uncertain impact of a deeper economic downturn with spillovers to the banking system, is concerned about the risks caused by the serious delay in completing the third pillar of the banking union and repeats its calls for its swift completion; welcomes the ECB’s long- standing support of the establishment of a fully-fledged European Deposit Insurance Scheme (EDIS);
Amendment 100 #
2022/2037(INI)
Motion for a resolution
Paragraph 5 d (new)
Paragraph 5 d (new)
5 d. Calls on the ECB to explore ways of strengthening the international role of the euro; notes that making the euro more attractive as a reserve currency will further enhance its international use; stresses that the creation of a well- designed European safe asset could facilitate financial integration and help mitigate the negative feedback loops between sovereigns and the domestic banking sectors; Underlines that strengthening the role of the euro requires the deepening and completion of the European economic and monetary union, including the creation of instruments of the nature of Next Generation EU, which enhance the EU budget;
Amendment 106 #
2022/2037(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Echoes President Lagarde’s call for a swift revision and simplification of the Stability and Growth Pact; Recalls that the upcoming revision of the economic governance framework has to provide the EU with stable, transparent, credible and flexible rules that could be implemented and respected by all Member States. Recalls that fiscal rules are essential for the proper functioning of the EU and should be respected. Recalls that rules should be applied in an intelligent way and within a flexible framework that adapts quickly to changes with the proper democratic accountability. The new framework should promote growth and ensure a better balance between sustainability and stabilisation. Notes that the new Transmission Protection Instrument (TPI) is now linked with the EU fiscal rules and its activation requires sustainable economic policies and compliance with the EU fiscal framework;
Amendment 113 #
2022/2037(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Is alarmed that euro area inflation has continued to rise and has reached undesirably high levels; stresses that headline inflation rose to a record 9.1 % in August 2022; stresses that energy is by far the most significant driver of inflation (38.3 %), followed by food prices (10.6 %); Notes that ECB forecasts an headline inflation of 8% in 2022, 5,5% in 2023 and 2,8% in 2024, with risks on the upside due to disruptions in the supply of energy;
Amendment 128 #
2022/2037(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Takes note of recent ECB monetary policy decisions to raise rates by 50 and 75 basis points in July and September 2022; is concerned about the implications of such policy decisions for growth and employment; Calls for a reflection of a more balanced and gradual adjustment of policy instead of a large and fast upfront tightening. Notes that latest economic and financial indicators point that EU economy is likely heading towards a worse than expected recession with the risk of a wide negative social impact with only moderate effect on the inflation rate. Calls for a more insight update and justification of the future policy rate decisions, given the current situation and high level of uncertainty;
Amendment 142 #
2022/2037(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Observes that there is little evidence that rising inflation is spurring a wage-price spiral, not least given the extent of wage restraint in recent years; Notes that the IMF, in its 2022 World Economic Outlook, concluded that, on average, the risks of a wage spiral are limited, so far. Notes that IMF underlines that three main drivers are containing the risks: the shocks to inflation are coming from outside the labor market, falling real wages are helping to reduce price pressures, and central banks are aggressively tightening monetary policy;
Amendment 154 #
2022/2037(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Recalls that the ECB strategy review reconfirmed the medium-term orientation of inflation targeting; calls on the ECB to faithfully target this medium- term horizon; Calls on the ECB to monitor attentively price developments and its consequences. Highlights the need to inform about where neutral interest rate is setting;
Amendment 188 #
2022/2037(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Calls on the lessons learned from the ongoing and previous crises to prepare for the upcoming assessment of monetary policy strategy in 2025. Calls for an earlier assessment, if possible, given the extraordinary impact of the current crisis on the future of monetary policy making and ECB mandate. Reflects on the commitment to symmetry, if price stability is best maintained by aiming for 2% inflation over the medium term and the challenges of monetary policy when disruptive supply side driven inflation is at stake;
Amendment 201 #
2022/2037(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recalls that the Treaty on the Functioning of the European Union requires the ECB to support the general economic policies of the Union; which include balanced and sustainable economic growth, highly competitive social market economy aiming at full employment and social progress and convergences and a high level of protection and improvement of the quality of the environment, underlines that sustainable development, convergence, full employment and social progress are general objectives of the Union as defined in Article 3 of the TFEU;
Amendment 211 #
2022/2037(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls on the ECB to coordinate with the European Parliament to specify theand how to implement the ECB´s secondary objectives; suggests taking advantage of this resolution to specify and prioritise the policy areas where the ECB is expected to deliver on the basis of its secondary objectives; calls on the ECB to elaborate in its Annual Report the impact its monetary policy may have had on the general economic policies of the Union;
Amendment 221 #
2022/2037(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Highlights that investments needed to enhance EU´s autonomy in strategic sectors should be supported by the monetary policy and are key to protect EU from external shocks and reduce the risks for price stability from supply-side shocks;
Amendment 222 #
2022/2037(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Recalls for the important role of ECB in supporting the implementation of the European Pillar of Social Rights;
Amendment 227 #
2022/2037(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Underlines the pivotal role of small and medium-sized enterprises (SMEs) in the EU’s economy and economic and social convergence and employment and for the implementation of the twin transitions (digital and climate);
Amendment 239 #
2022/2037(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Considers that the ECB should contribute to reducing inequality; calls on the ECB to ensure that the costs of its monetary policy operations are not disproportionately borne by lower income strata; invites the ECB to assess the effects of its monetary policy decisions on employmentCalls for an assessment on the impact of the monetary policy decisions on these most vulnerable groups; invites the ECB to assess the effects of its monetary policy decisions on employment; Notes that the ECB strategy review showed that adverse events lower the consumption of poorer households more than that of richer ones, that takes longer for the employment prospects of poorer households to recover following such events and that keeping monetary policy expansionary for longer can help poorer households’ income to rise to higher levels in a more sustained manner and thereby avoid hysteresis;
Amendment 251 #
2022/2037(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Highlights the ECB role to finance the climate transition and green agendas. Stresses that addressing the climate emergency and the euro area’s dependence on fossil fuels touches not only upon the ECB’s secondary mandate, but also its primary mandate, given the serious threat these issues pose to price stability;
Amendment 259 #
2022/2037(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Welcomes the Governing Council’s decision to take further steps to include climate change considerations in the Eurosystem’s monetary policy framework; Welcomes the launch of the scoreboard for green bonds;
Amendment 274 #
2022/2037(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Calls on the ECB to make maximum use of the forthcoming European Green Bond Standard by prioritizing the purchasing of such green bonds;
Amendment 281 #
2022/2037(INI)
24. Regrets that the climate roadmap does not include greening of the ECB’s targeted long-term refinancing operations; stresses that providing cheapfavourable liquidity conditions to financial institutions investing in browncarbon intensive activities works against the fight against inflation and is not consistent with the objectives of the Paris Agreement;
Amendment 290 #
2022/2037(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Is concerned about the implications of higher interest rates for greenstrategic and sustainable investments; calls on the ECB to assess the possibility of applying differentiated rates to support green investments and disincentivise brown investmentthat contribute most to reducing inflationary pressures, such as those in energy efficiency and renewables;
Amendment 301 #
2022/2037(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Welcomes the ECB’s economy wide climate risk stress test aimdeveloped ato assessing the climate risk preparedness of the European banking sectorresilience of banks and corporations for climate transition ; is concerned that the results published on 8 July 2022 show that banks do not have robust climate risk stress-testing frameworks and lack the relevant data; calls on the ECB to use all its available tools to ensure that banks take climate risk seriously;
Amendment 305 #
2022/2037(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Stresses the need to further enhance the ECB’s accountability and transparency arrangements; Recognises the steps taken by the ECB; Calls for the relaunch of negotiations on a formal Inter- Institutional agreement, whilst ensuring the ECB’s independence which goes hand in hand with its accountability;
Amendment 324 #
2022/2037(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. Welcomes the ECB’s progress on the digital euro project, as well as the dialogue with Parliament in this regard; looks forward to the Governing Council reaching a decision on launching the digital euro; Calls on the ECB to effectively address the expectations and concerns on a digital euro which include concerns for privacy, security, usability, low cost and accessibility. Calls on the ECB to step up its monitoring of the development of crypto-currencies and the related risks in terms of cybersecurity, money laundering, terrorism financing and other criminal activities related with the anonymity provided by crypto-assets;
Amendment 333 #
2022/2037(INI)
Motion for a resolution
Paragraph 31 a (new)
Paragraph 31 a (new)
31 a. Calls for Enhancement of the ECB’s internal whistleblowing framework;
Amendment 337 #
2022/2037(INI)
Motion for a resolution
Paragraph 31 b (new)
Paragraph 31 b (new)
31 b. Calls for ECB to create an internal evaluation office for ex post assessment of its policy decisions;
Amendment 339 #
2022/2037(INI)
Motion for a resolution
Paragraph 31 c (new)
Paragraph 31 c (new)
31 c. Welcomes the new communications policy, with more accessible ways to explains and presents ECB policy decision to general public and stakeholders. Given the current negative impact of tightening of the monetary policy on household budgets and companies investment plans, suggests reinforcement of ECB´s communication on financial advices on how families and business could better manage and prepare for an higher interest rates environment;
Amendment 3 #
2022/2006(INI)
Motion for a resolution
Citation 14 a (new)
Citation 14 a (new)
— having regard to the Commission Communication of 27 May 2020 entitled ‘Europe’s moment: Repair and Prepare for the Next Generation’ (COM(2020)456),
Amendment 4 #
2022/2006(INI)
Motion for a resolution
Citation 15 a (new)
Citation 15 a (new)
— having regard to the Commission Communication of 4 March 2021 entitled ‘The European Pillar of Social Rights Action Plan’ (COM(2021)102),
Amendment 5 #
2022/2006(INI)
Motion for a resolution
Citation 15 b (new)
Citation 15 b (new)
— having regard to the Porto Social Commitment of 7 May 2021 of the Council, the Commission, the Parliament and social partners,
Amendment 7 #
2022/2006(INI)
Motion for a resolution
Citation 17 a (new)
Citation 17 a (new)
— having regard to the Commission Staff Working Document of 27 May 2020 ‘Identifying Europe’s recovery needs’,
Amendment 8 #
2022/2006(INI)
Motion for a resolution
Citation 19 a (new)
Citation 19 a (new)
— having regard to its resolution of 6 June 2021 entitled ‘European Parliament’s Scrutiny on the ongoing assessment by the Commission and the Council of the national recovery and resilience plans’,
Amendment 10 #
2022/2006(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the European Semester plays an important role in coordinating economic, employment, social and budgetary policies in the Member States, thereby safeguarding the macroeconomic stability of the Economic and Monetary Union; whereas the Semester has been expanded to include, among other aspects, issues related to the financial sector and taxation, as well as objectives of the UN SDGs;
Amendment 18 #
2022/2006(INI)
Motion for a resolution
Recital B
Recital B
B. whereas according to the Commission’s autumn economic forecast, the GDP growth rate for 2022 is expected to be 4.3 % of GDP per capita for both the euro area and the EU-27, but is expected to fall to 2.4 % and 2.5 % respectively in 2023;
Amendment 27 #
2022/2006(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the crisis caused by the COVID-19 pandemic led to an increase in social, territorial, economic and gender- based inequalities and unemployment, affecting vulnerable groups in particular;
Amendment 31 #
2022/2006(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas a determined, coordinated and solidarity-based European economic policy approach remains essential to foster EU economic integration and to mitigate the negative economic and social consequences of the crisis, the fragmentation of the internal market and the further deepening of macroeconomic divergence and structural polarisation between regions and countries;
Amendment 37 #
2022/2006(INI)
Motion for a resolution
Recital E
Recital E
E. whereas according to the Commission’s autumn economic forecast, the average rate of unemployment fell to 7.9 % in the euro area and 7.1 % in the EU- 27 in 2021, with further decreases to 7.5 % and 6.7 % expected in 2022; whereas young people have experienced the sharpest increase in unemployment;
Amendment 38 #
2022/2006(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas according to the Commission’s autumn economic forecast, general government deficit narrowed slightly in 2021 to 7.1 % of GDP in the euro area and 6.6 % in the EU-27 on the back of the still high and necessary level of support provided to households and firms; whereas it is forecasted to decrease to 3.9% and 3.6% respectively in 2022, thanks to the unwinding of the emergency support measures and the rebound in revenues;
Amendment 39 #
2022/2006(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas the European recovery is being robust and strong but supply disruptions, labour shortages, pandemic- related closures, rising energy and commodity prices and a scarcity of some key materials risk of holding back growth and adding to cost pressures;
Amendment 41 #
2022/2006(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
Eb. whereas the EU is estimated to lose between €160 and €190 billion each year due to corporate tax avoidance10a; __________________ 10a https://www.europarl.europa.eu/RegData/ etudes/STUD/2016/558776/EPRS_STU(2 016)558776_EN.pdf
Amendment 47 #
2022/2006(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas during the Porto Social Summit held on 7 and 8 May 2021, the EU’s leaders recognised the European Pillar of Social Rights as a fundamental element of the recovery; whereas in the Porto declaration they underlined their determination to continue deepening its implementation at EU and national level;
Amendment 48 #
2022/2006(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas the efforts of a transition to a neutral carbon economy demand significant public and private investment and may bring negative supply shocks, thereby demanding that the Union is equipped with the necessary tools to be able to deal with challenges of the green transition;
Amendment 52 #
2022/2006(INI)
Motion for a resolution
Recital F b (new)
Recital F b (new)
Fb. whereas the EU and its Member States have committed to the Treaty-based fundamental values, the implementation of the UN 2030 Agenda, the European Pillar of Social Rights and the Paris Climate Agreement;
Amendment 55 #
2022/2006(INI)
Motion for a resolution
Recital F c (new)
Recital F c (new)
Fc. whereas the ECB predicted that a lack of action on climate change and an insufficiently orderly climate transition could result in falls of up to 20% in global GDP by the end of the century10b; __________________ 10b https://www.ecb.europa.eu/pub/pdf/other/ ecb.climateriskfinancialstability202107~8 7822fae81.en.pdf
Amendment 69 #
2022/2006(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Is concerned about emerging new variants, localised pandemic lockdowns, increased energy prices, inflationary pressures, supply-side disruptions and emerging labour shortages; notes that these risks create a significant level of uncertainty and could hamper economic growth prospects in the coming months and delay the transition to a more sustainable and future-proof economy;
Amendment 76 #
2022/2006(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Stresses that both public and private sector investment were already clearly insufficient before the crisis, and that the projections reveal the need for additional annual public investment in the three digit billion rang to address the challenges of digital transformation, green and just transition and social recovery; underlines that an increased level of investment must be stabilised and upward convergence in the EU enhanced for many years to come;
Amendment 78 #
2022/2006(INI)
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Points out that restoring the growth potential will be a key element for the structural transformations needed to adapt to current and future challenges and to achieve the EU’s policy objectives;
Amendment 82 #
2022/2006(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Is alerted by the fact that the speed of the recovery varies across Member States and regions, with significant differences and a disparity of between 2.7 % and 14.6 % betweenin GDP growth among the Member States in 2021, according to the Commission’s autumn economic forecast;
Amendment 98 #
2022/2006(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Points out that the successful roll- out of the RRF will help to make EU economies and societies more sustainable, inclusive, resilient and better prepared for the just, green and digital transitions; as well as to foster economic, social and territorial cohesion, bring convergence and help the Member States to mitigate the economic and social impact of the crisis;
Amendment 107 #
Amendment 110 #
2022/2006(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is expected to be deactivated as of 2023; expects that it will remain activated as long as the underlying justification of the activation exists in order to support the efforts of the Member States to recover from the pandemic crisis and strengthen their competitiveness, as well as economic and social resilience;
Amendment 120 #
2022/2006(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that the review of the EU’s economic governance framework is necessary and should be done taking into account the Report on the review of the macroeconomic legislative framework for a better impact on Europe’s real economy and improved transparency of decision- making and democratic accountability; agrees with the European Fiscal Board on the importance of having a clear pathway towards a reviewed fiscal framework, preferably prior to the deactivation of the general escape clause;
Amendment 138 #
2022/2006(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Is convinced that the coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance, taking into account national budgets and the RRFexpected acceleration in spending financed by RRF grants, is projected to remain supportive in 2022 to sustain the recovery and should remain supportive as long as necessary; agrees with the Commission that Member States with low or medium levels of debt should pursue or maintain a supportive fiscal stance, and that Member States with high levels of debt should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscalresponsible fiscal and sustainable policyies; agrees with the Commission that all Member States should preserve or broadly preserve their national financed investment and ensure a socially just recovery;
Amendment 143 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Recalls that the Commission, in the context of the European Semester and the assessment of the National Recovery and Resilience Plans, found that more reforms are needed in order to address aggressive tax planning in six Member States; encourages the Commission to insist on the implementation of recommendations addressing aggressive tax planning given its negative impact on both the economic recovery and public accounts of other Member States and third countries;
Amendment 144 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Recalls that public funding is key to achieving the 2030 climate objectives and addressing other social and economic challenges; considers that all options to incentivise Member State investments to tackle those challenges should be on the table, notably the revision of the Stability and Growth Pact to promote a future- oriented economy and the extension of lending and borrowing capacities at Union level, building on NGEU;
Amendment 145 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Underlines that sustainable public revenues are essential to guarantee fiscal sustainability; supports governments’ efforts to increase revenues through the closing of loopholes for tax avoidance, addressing harmful tax practices and the increasing of capital-gains, wealth and corporate income taxes;
Amendment 149 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8b. Recalls that the European Semester cycle is a well-established framework for EU Member States to coordinate their budgetary, economic, social and employment policies, and after the COVID-19 crisis, a functioning European Semester will be needed more than ever to coordinate these policies across the European Union; but also notes that the Semester, since the inception, has been expanded to include, among other aspects, issues related to the financial sector and taxation, as well as objectives of the European Pillar of Social Rights and the UN SDGs, giving due consideration to the people of our planet in our economic policy;
Amendment 151 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8c. Calls on the Commission to improve the European Semester process in order to create a governance framework that enables inclusive and sustainable growth, structural changes for a sustainable economy, integrating the principles of well-being and sustainability, and reflecting actual economic and budgetary realities of Member States;
Amendment 152 #
2022/2006(INI)
Motion for a resolution
Subheading 3
Subheading 3
Growth-enhancing, socially-balanced, inclusive and sustainable structural reforms and investment
Amendment 163 #
2022/2006(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Considers that it is crucial to coordinate national reform and investment efforts and the exchange of best practices in order to increase the convergence and resilience of our economies, promote sustainable and inclusive growth, and improve institutional frameworks; in order to further strengthen economic and social resilience the EU must deliver on the principles of the European Pillar of Social Rights, the Sustainable Development Goals and the European Green Deal;
Amendment 182 #
2022/2006(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Highlights that the RRF presents an unprecedented and unique opportunity for all Member States to address key structural challenges and investment needs andwhile embracing the just, green and digital transitions; insists that all recovery and resilience plans address all requirements of the RRF Regulation, in particular the six pillars, namely: green transition; digital transformation; smart, sustainable and inclusive growth; social and territorial cohesion; health, economic, social and institutional resilience; and policies for the next generation, children and the youth; highlights the interplay between the European Semester and the RRF; calls on the Member States to make the most of this opportunity and to use it to transform their economies and make them sustainable, more competitive and more resilient to future shocks; highlights the role of the European Parliament in the implementation of the RRF, as enshrined in the RRF Regulation;
Amendment 189 #
2022/2006(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Invites the Commission and the Member States to draw conclusions from the RRF exercise and improve the mechanisms driving the economic governance framework especially when it comes to establishing a more transparent and democratic coordination process, defining underlying political guidelines, cooperation between the institutions and increased ownership of the Member States, developing the national reform programmes and implementing socially- balanced structural reforms;
Amendment 197 #
2022/2006(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Considers Next Generation EU to be a valuable and reliable blueprint for the European growth strategy for the next decade; calls, in that regard, for the establishment of a new fund on strategic investments in key technologies, as part of the EU industrial strategy;
Amendment 201 #
2022/2006(INI)
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Is concerned that, without a coordinated effort to invest in the transition to a sustainable economy, European economies will suffer long- lasting damage, undermining any efforts to promote sustainable fiscal policies;
Amendment 205 #
2022/2006(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Highlights that the COVID-19 pandemic has had a significant negative impact on women both in paid and unpaid work with far reaching consequences; emphasises the importance of increasing women’s participation in the economy, including inclusive participation in the digital economy and transformation, and ensuring more inclusive growth, ensuring equal pay for equal work and reducing the poverty gap as part of the solution to the post-pandemic recovery, which will help to increase jobs, economic prosperity and competitiveness across the EU; calls therefore on the Commission and the Council to ensure that gender equality and equal opportunities for all, and the mainstreaming of those objectives, are addressed effectively in the country- specific recommendations and promoted in the implementation of investment and reforms;
Amendment 213 #
2022/2006(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Underlines that the recovery must be based on upward social and economic convergence, social dialogue and improved social rights and working conditions for workers, employees and the self-employed;
Amendment 231 #
2022/2006(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Is concerned that the Commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 Member States; is worried that the nature and source of Member States’ imbalances remain largely the same as before the pandemic and that the pandemic could also be exacerbating imbalances and economic divergences; calls on the Member States to take advantage of the unprecedented opportunity provided by the RRF to significantly reduce existing macroeconomic imbalances, in particular by including ambitious reform measures in the national plans of all Member States; stresses that sound execution is essential to make full use of this opportunity;
Amendment 247 #
2022/2006(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Invites the Commission to revamp the comprehensive economic policy response to the COVID-19 pandemic and to take the principles of NGEU as a basis for a modernisation of the common European fiscal architecture;
Amendment 248 #
2022/2006(INI)
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14b. Reiterates the European Parliament’s call for strengthening its democratic role in the economic governance framework;
Amendment 249 #
2022/2006(INI)
Motion for a resolution
Paragraph 14 c (new)
Paragraph 14 c (new)
14c. Calls for committed coordination with social partners and other relevant stakeholders at both national and European level, with a view to strengthening democratic accountability, transparency and enhancing social dialogue;
Amendment 68 #
2022/0413(CNS)
Proposal for a directive
Recital 1
Recital 1
(1) Tax fraud, tax evasion and tax avoidance represent a major challenge for the Union and at global level. It is estimated that EU Member States lose up to EUR 170 billion per year1a as a result of tax fraud, tax evasion and tax avoidance, which significantly undermines the capacity to provide quality public services. Exchange of information is a pivotal part in the development of a well- functioning and effective EU framework to fight against such harmful practices. __________________ 1a Polish Economic Institute, Tax unfairness in the European Union: https://pie.net.pl/wp- content/uploads/2018/07/PIE_Report_Tax _Havens_EU.pdf
Amendment 70 #
2022/0413(CNS)
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2a) In order to ensure the proper implementation of this directive, Member States should communicate to the Commission, on an annual basis, relevant information about obstacles encountered. Furthermore, the exchange of national best practices among tax authorities should also be encouraged.
Amendment 72 #
2022/0413(CNS)
Proposal for a directive
Recital 2 b (new)
Recital 2 b (new)
(2b) Given the free circulation of capital, national stand-alone approaches do not provide efficient answers to tax abuse. The implementation of EU-wide policies and, whenever possible, international agreements remains, therefore, a crucial dimension in efforts to improve the fairness of tax systems.
Amendment 95 #
2022/0413(CNS)
Proposal for a directive
Recital 26 a (new)
Recital 26 a (new)
(26a) While several countries, including many Member States, are releasing anonymised and aggregated information per country - extracted from the country- by-country reports required under DAC 4 or Action 13 from the BEPS Action Plan - , it is regrettable that some Member States are not publishing this information in international databases. A harmonised approach in this regard is required, with the objective of having the publication of aggregated data per country, and should be object of the next revision of the DAC.
Amendment 98 #
2022/0413(CNS)
Proposal for a directive
Recital 29
Recital 29
(29) The Tax Identification Number (‘Proper identification of taxpayers is essential to effective exchange of information between tax administrations. A European taxpayer identification number (TIN) should be created to provide the best means for this identification. It would allow any third party to quickly, easily and correctly identify and record TINs in cross-border relations and serve as a basis for effective automatic exchange of information between Member States tax administrations. A European TIN’) is essential for Member States to match information received with data present in national databases. It by increases Member States’ing the capabilcity of identifying the relevant taxpayers and correctly assessing the related taxes. Therefore, it is important that Member States require that TIN is indicated in the context of exchanges related to financial accounts, advance cross-border rulings and advance pricing agreements, country-by- country reports, reportable cross-border arrangements, and information on sellers on digital platforms.
Amendment 103 #
2022/0413(CNS)
Proposal for a directive
Recital 33 a (new)
Recital 33 a (new)
(33a) The Union legislative framework on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing is currently being reviewed. In order to ensure uniform standards for reporting entities, implementing powers should be conferred on the Commission to adapt the present Directive on requirements regarding the identification of beneficial owners, especially in Annex I. Member States are encouraged to keep developing their respective national registries, giving particular consideration to the regularity of information updates, accuracy of content, accessibility and user- friendliness.
Amendment 104 #
2022/0413(CNS)
Proposal for a directive
Recital 34
Recital 34
(34) Directive 2011/16/EU provides for the possibility to use the information exchanged for other purposes than for direct and indirect tax purposes to the extent that the sending Member State has stated the purpose allowed for the use of such information in a list. However, the procedure for such use is cumbersome as the sending Member State need to be consulted before the receiving Member State can use the information for other purposes. Removing the requirement for such consultation should alleviate the administrative burden and allow swift action from tax authorities when needed. It should therefore not be required to consult the sending Member State where the intended use of information is covered in a list drafted beforehand by the sending Member State. Such list can include the use of information of non-tax related data by local authorities in the framework of thresholds and limitations attached to the delivery of certain services such as services provided via an online platform in particular.
Amendment 107 #
2022/0413(CNS)
Proposal for a directive
Recital 36
Recital 36
(36) In order to enhance the efficient use of resources, facilitate the exchange of information and avoid the need for each Member States to make similar changes to their systems for storing information, a central directory should be established, accessible to all Member States and only for statistical purposes to the Commission, to which Member States would upload and store reported information, instead of exchanging that information by secured email. This effort should also enhance the exchange of best practices on how to implement digital tools in tax administrations to reduce compliance costs and bureaucracy, while improving effectiveness and efficiency, and taking into account the need to qualify human resources. The practical arrangements necessary for the establishment of such central directory should be adopted by the Commission.
Amendment 108 #
2022/0413(CNS)
Proposal for a directive
Recital 36 a (new)
Recital 36 a (new)
(36a) The Commission is entitled to produce reports and documents, using the information exchanged in an anonymised manner, so as to take into account the taxpayers’ rights to confidentiality and in compliance with Regulation (EC)1049/2001 regarding public access to European Parliament, Council and Commission documents. The publication of anonymised and aggregated country- by-country report statistics, including on effective tax rates, on an annual basis for all Member States contributes to improve the quality of public debates on taxation affairs.
Amendment 121 #
2022/0413(CNS)
Proposal for a directive
Recital 44 a (new)
Recital 44 a (new)
(44a) The successive revisions of the EU legislative framework on exchange of information should be reflected in the agreements with third countries. Therefore, where there is a signed agreement, the Union and the Member States shall seek its review.
Amendment 122 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point a a (new)
Article 1 – paragraph 1 – point 1 – point a a (new)
Amendment 123 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point a b (new)
Article 1 – paragraph 1 – point 1 – point a b (new)
Directive 2011/16/EU
Article 3 – point 16
Article 3 – point 16
(ab) point 16 is deleted.
Amendment 128 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
34a. 'beneficial owner' means beneficial owner as defined in Article 2, point 22, of [please insert reference - Regulation on the prevention of the use of the financial system for the purposes of money laundering and terrorist financing - COM 2021/420 FINAL].
Amendment 132 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 1 b (new)
Article 1 – paragraph 1 – point 1 b (new)
Directive 2011/16/EU
Article 7 – paragraph 4 a (new)
Article 7 – paragraph 4 a (new)
(1b) The following paragraph is added: "4a. Where upon the receipt of the requested information, the requesting authority submits a follow-up request, the requested authority shall provide that further required information as soon as possible, and no later than one month from the date of receipt of the follow-up request."
Amendment 133 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a – point i
Article 1 – paragraph 1 – point 2 – point a – point i
Directive 2011/16/EU
Article 8 – paragraph 1 – point e
Article 8 – paragraph 1 – point e
(e) ownership of and incomebeneficial ownership, income and capital gains from immovable property;
Amendment 135 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a – point i
Article 1 – paragraph 1 – point 2 – point a – point i
Directive 2011/16/EU
Article 8 – paragraph 1 – point e a (new)
Article 8 – paragraph 1 – point e a (new)
(ea) beneficial ownership, income and capital gains from financial assets;
Amendment 136 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a – point i
Article 1 – paragraph 1 – point 2 – point a – point i
Directive 2011/16/EU
Article 8 – paragraph 1 – point e b (new)
Article 8 – paragraph 1 – point e b (new)
(eb) beneficial ownership, income and capital gains from high-value non- financial assets, such as precious commodities, art, and other goods held in free ports, customs warehouses, safe deposit boxes;
Amendment 137 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point a – point i
Article 1 – paragraph 1 – point 2 – point a – point i
Directive 2011/16/EU
Article 8 – paragraph 1 – point e c (new)
Article 8 – paragraph 1 – point e c (new)
(ec) beneficial ownership, capital gains and lease income of certain goods, as defined in Article 16b of [Please insert reference to AMLD - Directive on mechanisms to be put in place by the Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing];
Amendment 143 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b a (new)
Article 1 – paragraph 1 – point 2 – point b a (new)
Directive 2011/16/EU
Article 8 – paragraph 2 a (new)
Article 8 – paragraph 2 a (new)
(ba) In paragraph 2, the following subparagraph is added : "The automatic exchange of information shall be deemed to be respected for points h to k, paragraph 1, first subparagraph, if competent authorities of any other Member States can access such information either through the national registries or data retrieval systems or interconnected registries as provided in [please insert reference – proposal for a directive on the mechanisms to be put in place by the Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and repealing Directive (EU) 2015/849]."
Amendment 145 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b a (new)
Article 1 – paragraph 1 – point 2 – point b a (new)
Directive 2011/16/EU
Article 8 – paragraph 3
Article 8 – paragraph 3
(ba) paragraph 3 is deleted.
Amendment 146 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b b (new)
Article 1 – paragraph 1 – point 2 – point b b (new)
Directive 2011/16/EU
Article 8 – paragraph 3a – subparagraph 2 – point a
Article 8 – paragraph 3a – subparagraph 2 – point a
(bb) in paragraph 3a, second subparagraph, point a is replaced by the following: "(a) the name, address, TIN(s) and date and place of birth (in the case of an individual) of each Reportable Person that is an Account Holder of the account and, in the case of any Entity that is anthe ultimate beneficial Account Holder and that, after application of due diligence rules consistent with the Annexes, is identified as having one or more Controlling Persons that is a Reportable Person, the name, address, and TIN(s) of the Entity and the name, address, TIN(s) and date and place of birth of each Reportable Person; (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02011L0016-20230101)" Or. en
Amendment 149 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3 – point b a (new)
Article 1 – paragraph 1 – point 3 – point b a (new)
Directive 2011/16/EU
Article 8a – paragraph 3 – subparagraph 2 a (new)
Article 8a – paragraph 3 – subparagraph 2 a (new)
(ba) in paragraph 3 the following subparagraph is added: "The competent authority shall not negotiate and agree new bilateral or multilateral advance pricing arrangements with third countries that do not permit its disclosure to competent authority of other Member States as from 1 January 2024."
Amendment 150 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3 – point d – point i a (new)
Article 1 – paragraph 1 – point 3 – point d – point i a (new)
Directive 2011/16/EU
Article 8a – paragraph 6 – point b
Article 8a – paragraph 6 – point b
(ia) point b is replaced by the following: "(b) a summary of the advance cross- border ruling or advance pricing arrangement, including a description of the relevant business activities or transactions or series of transactions, the resulting effective tax rate of the tax payer in the requested Member State and any other information that could assist the competent authority in assessing a potential tax risk, without leading to the disclosure of a commercial, industrial or professional secret or of a commercial process, or of information whose disclosure would be contrary to public policy; (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02011L0016-20230101);" Or. en
Amendment 152 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 3 a (new)
Article 1 – paragraph 1 – point 3 a (new)
Directive 2011/16/EU
Article 8aa – paragraph 2 – subparagraph 1a
Article 8aa – paragraph 2 – subparagraph 1a
Amendment 155 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2011/16/EU
Article 8ab – paragraph 14 – point c
Article 8ab – paragraph 14 – point c
(c) a summary of the content of the reportable cross-border arrangement, including a reference to the name by which it is commonly known, if any, and a description of the relevant arrangements, the expected impact on the effective tax rate of the tax payer in the requested Member State and any other information that could assist the competent authority in assessing a potential tax risk, without leading to the disclosure of a commercial, industrial or professional secret or of a commercial process, or of information whose disclosure would be contrary to public policy;
Amendment 156 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 4 a (new)
Article 1 – paragraph 1 – point 4 a (new)
Directive 2011/16/EU
Article 8ab – paragraph 14 – point h a (new)
Article 8ab – paragraph 14 – point h a (new)
(4a) in Article 8ab, paragraph 14, the following point is added: "(ha) the list of beneficiaries, updated on a yearly basis."
Amendment 172 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive 2011/16/EU
Article 8ad – paragraph 11 a (new)
Article 8ad – paragraph 11 a (new)
11a. The provisions laid down by paragraph 11 shall not be applicable if the non-Union jurisdiction is currently listed in Annex I or Annex II of the EU list of non-cooperative jurisdictions for tax purposes, or identified in the list of third countries which have strategic deficiencies in their AML/CFT regimes, or if it has been part of either in the previous 12 months. Furthermore, any future listing in Annex I or Annex II of the EU list of non- cooperative jurisdictions for tax purposes or identification as a third country which has strategic deficiencies in its AML/CFT regime shall suspend the effect of any existing implementing acts regarding that specific jurisdiction.
Amendment 175 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 6 a (new)
Article 1 – paragraph 1 – point 6 a (new)
Directive 2011/16/EU
Article 12a – paragraph 1
Article 12a – paragraph 1
(6a) Article 12a, paragraph 1 is replaced by the following: "1. "The competent authority of one or more Member States may request the competent authority of another Member State (or other Member States) to conduct a joint audit. The requested competent authorities shall respond to the request for a joint audit within 630 days of the receipt of the request. The requested competent authorities may reject a request for a joint audit by the competent authority of a Member State on justified grounds. (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02011L0016-20230101)" Or. en
Amendment 180 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 7 – point b
Article 1 – paragraph 1 – point 7 – point b
Directive 2011/16/EU
Article 16 – paragraph 3
Article 16 – paragraph 3
3. Where a competent authority of a Member State considers that information which it has received from the competent authority of another Member State is likely to be useful for the purposes referred to in paragraph 1 to the competent authority of a third Member State, it may transmit that information to the latter competent authority, provided that transmission is in accordance with the rules and procedures laid down in this Directive. It shall inform the competent authority of the Member State from which the information originates about its intention to share that information with a third Member State. The Member State of origin of the information may oppose such a sharing of information within 15 calendar days of receipt of the communication from the Member State wishing to share the information.;
Amendment 183 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 7 a (new)
Article 1 – paragraph 1 – point 7 a (new)
Directive 2011/16/EU
Article 17 – paragraph 4
Article 17 – paragraph 4
(7a) in Article 17, paragraph 4 is amended as follows: "4. The provision of information may be refused where the requested Member State demonstrates it would lead to the disclosure of a commercial, industrial or professional secret or of a commercial process, or of information whose disclosure would be contrary to public policy. " Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02011L0016-20230101)
Amendment 186 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point b
Article 1 – paragraph 1 – point 9 – point b
Directive 2011/16/EU
Article 21 – paragraph 8
Article 21 – paragraph 8
8. The Commission shall, by means of implementing acts, issue a standard form allowing Member States to use a European TIN. Those implementing acts shall be adopted in accordance with the procedure referred to in Article 26(2). In addition, the Commission, acting on behalf of Member States, shall develop and provide Member States with a tool allowing an electronic and automated verification of the correctness of the TIN provided by a reporting entity or a taxpayer for the purpose of automatic exchange of information.
Amendment 196 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 11 a (new)
Article 1 – paragraph 1 – point 11 a (new)
Directive 2011/16/EU
Article 23a – paragraph 2 – subparagraph 2
Article 23a – paragraph 2 – subparagraph 2
(11a) Article 23a, paragraph 2, subparagraph 2 is replaced by the following: "Reports and documents produced by the Commission, referred to in the first subparagraph, may be used by Member States only for analytical purposes, and shall not be published be accessible to all interested parties and subsequently the public, insofar as the infor made available to any otion they contain is not attributable to a single taxpayer, and their person or body without the express agreement of the Commission.disclosure complies with Regulation (EC) No 1049/2001 regarding public access to European Parliament, Council and Commission documents."
Amendment 211 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2011/16/EU
Article 25a – paragraph 3 – subparagraph 1
Article 25a – paragraph 3 – subparagraph 1
In cases of failure to report after 2 administrative reminders or when the provided information contains incomplete, incorrect or false data, amounting to more than 2510 % of the information that should have been reported in accordance with the information set forth in Annex VI, Section II, subparagraph (B), Member States shall ensure that the penalties that can be applied include at least the following minimum pecuniary penalties.
Amendment 232 #
2022/0413(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 14
Article 1 – paragraph 1 – point 14
Directive 2011/16/EU
Article 27 – paragraph 2 – subparagraph 1 a (new)
Article 27 – paragraph 2 – subparagraph 1 a (new)
The Commission shall take such reporting from Member States into account for the purposes of advancing with further legislative reviews to address persisting loopholes and weaknesses of the present directive.
Amendment 45 #
2022/0409(CNS)
Proposal for a regulation
Recital -1 (new)
Recital -1 (new)
(-1) The current EU VAT system which was introduced in 1993 is similar to the European customs system. However, equivalent checks are lacking, which makes it a target for cross-border fraud.
Amendment 46 #
2022/0409(CNS)
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1a) The current VAT system would perform better if intra-community supplies were taxed as if they were domestic transactions. A Council Directive proposal amending Directive 2006/112/EC as regards the introduction of the detailed technical measures for the operation of the definitive VAT system for the taxation of trade between Member States was released in 2018 and remains under discussion. The provision included in the amended Council Regulation (EU) No 904/2010 strengthen both the current system and a definitive VAT system.
Amendment 58 #
2022/0409(CNS)
Proposal for a regulation
Recital 17 a (new)
Recital 17 a (new)
(17a) The mechanism by which carousel fraud functions has been clearly laid out by the European Commission in a document published on 16 April 2004: Report from the Commission to the Council and the European Parliament on the use of administrative cooperation arrangements in the fight against VAT fraud.
Amendment 61 #
2022/0409(CNS)
Proposal for a regulation
Recital 25 a (new)
Recital 25 a (new)
(25a) In keeping with the public interest and the financial interests of the Union, whistle blowers should enjoy effective legal protection, in order to facilitate the detection and prevention of all forms of fraud.
Amendment 64 #
2022/0409(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 a (new)
Article 1 – paragraph 1 – point 1 a (new)
Regulation (EU) No 904/2010
Article 2 – paragraph 1 – point v a (new) – point v b (new) and point v c (new)
Article 2 – paragraph 1 – point v a (new) – point v b (new) and point v c (new)
(1a) in Article 2(1), the following points are added: ‘(va) “European Delegated Prosecutors” means officials employed by the EPPO referred to in Article 13 of Council Regulation 2017/1939; (vb) “officials of the EPPO” means officials employed by the EPPO as defined in Article 2 point 4 of Regulation 2017/1939; (vc) “officials of the OLAF” means officials employed by the European Anti- Fraud Office (OLAF) as set up by Regulation 883/2013 and to whom the Director General granted investigations powers.’
Amendment 67 #
2022/0409(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 3 a (new)
Article 1 – paragraph 1 – point 3 a (new)
Regulation (EU) No 904/2010
Article 17 – paragraph 1 a (new)
Article 17 – paragraph 1 a (new)
(3a) in Article 17, the following paragraph is inserted: '1a. The information referred to in paragraph 1 collected through e-invoicing and e-reporting shall not be stored outside the territory of the Union.'
Amendment 70 #
2022/0409(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 3 c (new)
Article 1 – paragraph 1 – point 3 c (new)
Regulation (EU) No 904/2010
Article 33 – paragraph 2 – point d a (new)
Article 33 – paragraph 2 – point d a (new)
(3c) in Article 33(2), the following point is added: ‘(da) cooperate with the EPPO and OLAF, within their respective mandate and competences according to Regulation (EU, Euratom) 2020/2223 of the European Parliament and of the Council of 23 December 2020 amending Regulation (EU, Euratom) No 883/2013, as regards cooperation with the European Public Prosecutor’s Office and the effectiveness of the European Anti-Fraud Office investigations’
Amendment 82 #
2022/0409(CNS)
Proposal for a regulation
Article 3 – paragraph 1 – point 3
Article 3 – paragraph 1 – point 3
Regulation (EU) No 904/2010
Article 24g – paragraph 1
Article 24g – paragraph 1
1. The Commission shall develop, maintain, host and technically manage an electronic, central VAT information exchange system (“central VIES”) for the purposes referred to in Article 1. The Commission should provide for a secured connexion to the central VIES by the officials authorized in Article 24k (1).
Amendment 94 #
2022/0407(CNS)
Proposal for a directive
Recital 3
Recital 3
(3) VAT revenue loss, known as the ‘VAT Gap’, was in 2020 estimated at EUR 93 billion61 in the Union, a significant part of which consists of fraud, in particular missing trader intra-Community fraud62 , estimated in the range of EUR 40-60 billion63 . In the final report of the Conference on the Future of Europe citizens call for ‘Harmonizing and coordinating tax policies within the Member States of the EU in order to prevent tax evasion and avoidance’, ‘Promoting cooperation between EU Member States to ensure that all companies in the EU pay their fair share of taxes’. The VAT in the Digital Age initiative is consistent with these goals. The current VAT Gap demonstrates the need of tackling VAT cross-border fraud and carousel fraud through the proper implementation of efficient exchange of information mechanisms and adequate means (both human, financial, technical and technological). _________________ 61 The VAT Gap is the overall difference between the expected VAT revenue based on VAT legislation and ancillary regulations and the amount actually collected: https://ec.europa.eu/taxation_customs/busi ness/vat/vat-gap_en 62 Europol: https://www.europol.europa.eu/crime- areas-and-statistics/crime-areas/economic- crime/mtic-missing-trader-intra- community-fraud 63 European Court of Auditors: https://www.eca.europa.eu/Lists/ECADocu ments/SR15_24/SR_VAT_FRAUD_EN.pd f
Amendment 96 #
2022/0407(CNS)
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3a) Member States still have diverging minimum thresholds for qualifying a taxable person for VAT purposes which leads to a difference of treatement according to where the economic activity is located. To foster the level playing field and ease the understanding of reporting obligations of smaller firms operating cross-border, taxable person for VAT purposes means any person (natural or legal) who, independently, carries out any economic activity consisting of a total value of more than EUR 30 000.
Amendment 100 #
2022/0407(CNS)
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) VAT fraud is often linked with organised crime and a very small number of those organised networks can be responsible for billions of euro in cross- border VAT fraud, affecting not only revenue collection in Member States but also having a negative impact on the Union’s own resources. Therefore, Member States have a shared responsibility for the protection of the VAT revenue of all Member States.
Amendment 121 #
2022/0407(CNS)
Proposal for a directive
Recital 15
Recital 15
(15) In order to achieve the necessary harmonisation in the reporting of data on intra-Community transactions, the information to be reported should be the same in all Member States, without the possibility for Member States to request additional data. The collection of this data will also make it possible to have better statistics as to the extent of VAT fraud and should make it possible to reduce it.
Amendment 128 #
2022/0407(CNS)
Proposal for a directive
Recital 18
Recital 18
(18) Member States should not be obliged to implement a digital reporting requirement for supplies of goods and services of a low amount for consideration between taxable persons within their territory. However, if they are to implement such a requirement in the future for domestic transactions below EUR 10 000 , they should align it with the digital reporting requirements for intra- Community transactions. Member States which already have a reporting system for these transactions in place should adapt such systems to ensure that the data are reported in accordance with the digital reporting requirements for intra- Community transactions.
Amendment 149 #
2022/0407(CNS)
Proposal for a directive
Recital 39
Recital 39
(39) The margin scheme operates by allowing taxable dealers to pay VAT on the difference between the sale price and the purchase price of goods covered by the scheme namely second-hand goods, including capital goodssuch as buildings, machinery, tools and equipment, works of art, collectors' items and antiques. To ensure that the taxation of those specific supplies occurs in the Member State where the customer is established, has his or her permanent address or usually resides, Directive 2006/112/EC should be amended to introduce a new place of supply rule. In addition, Directive 2006/112/EC should be amended to specifically exclude supplies of margin scheme goods from the mandatory application of the reverse charge mechanism. However, to support the objective of a single VAT registration in the Union, and to minimise compliance burdens, taxable dealers that operate under the margin scheme can opt to register to use the Union OSS scheme to declare and pay the VAT due on certain supplies of margin scheme goods via that scheme, without the need to register in multiple Member States.
Amendment 154 #
2022/0407(CNS)
Proposal for a directive
Recital 41 a (new)
Recital 41 a (new)
(41a) This proposal encompasses several changes in the way VAT revenues will declared. It might have a serious impact on the nature of the work of employees working in the tax administrations. Tax authorities should provide for the necessary training capacity of their employees before the entry into force of the present proposal.
Amendment 159 #
2022/0407(CNS)
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2006/112/EC
Article 218 – paragraph 1
Article 218 – paragraph 1
1. For the purposes of this Directive, Member State shall accept documents or messages on paper or digital format or in electronic form as invoices if they meet the conditions laid down in this Chapter.
Amendment 167 #
2022/0407(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point -1 (new)
Article 2 – paragraph 1 – point -1 (new)
Directive 2006/112/EC
Article 9 – paragraph 1
Article 9 – paragraph 1
Amendment 180 #
2022/0407(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 10
Article 2 – paragraph 1 – point 10
Directive 2006/112/EC
Article 143 – paragraph 1a
Article 143 – paragraph 1a
For the purposes of the exemption provided for in paragraph 1, point (ca), the Commission shall adopt an implementing act to introduce special measures to prevent certain forms of tax evasion or avoidance by, inter alia, linking the unique consignment number with the corresponding VAT identification number as referred to in Article 369q. It shall inform the European Parliament, EPPO, Eurofisc, OLAF, Eurojust and Europol thereof.
Amendment 188 #
2022/0407(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 15 a (new)
Article 2 – paragraph 1 – point 15 a (new)
Directive 2006/112/EC
Article 284
Article 284
(15a) Article 284 is deleted
Amendment 189 #
2022/0407(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 15 b (new)
Article 2 – paragraph 1 – point 15 b (new)
Directive 2006/112/EC
Article 285
Article 285
(15b) Article 285 is deleted
Amendment 190 #
2022/0407(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 15 c (new)
Article 2 – paragraph 1 – point 15 c (new)
Directive 2006/112/EC
Article 286
Article 286
(15c) Article 286 is deleted
Amendment 191 #
2022/0407(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 15 d (new)
Article 2 – paragraph 1 – point 15 d (new)
Directive 2006/112/EC
Article 287
Article 287
(15d) Article 287 is deleted
Amendment 213 #
2022/0407(CNS)
Proposal for a directive
Article 4 – paragraph 1 – point 5
Article 4 – paragraph 1 – point 5
Directive 2006/112/EC
Article 223
Article 223
(5) Article 223 is deleted;replaced by the following : ‘Member States shall allow taxable persons to issue summary electornic invoices which detail several separate supplies of goods or services provided that VAT on the supplies mentioned in the summary invoice becomes chargeable during the same calendar month’
Amendment 217 #
2022/0407(CNS)
Proposal for a directive
Article 4 – paragraph 1 – point 6
Article 4 – paragraph 1 – point 6
Directive 2006/112/EC
Article 226 – paragraph 1 – point 17
Article 226 – paragraph 1 – point 17
(17) the IBAN number of the supplier’s bank account to which the payment for the invoice will be credited. If the IBAN number is not available, any other identifier which unambiguously identifies the bank account to which the invoice will be credited; In case of multiple IBANs at the disposal of the taxpayer, the taxpayer should indicate to the customer to which IBAN the payment should be done;
Amendment 223 #
2022/0407(CNS)
Proposal for a directive
Article 4 – paragraph 1 – point 10
Article 4 – paragraph 1 – point 10
Directive 2006/112/EC
Article 263 – paragraph 1 – subparagraph 3
Article 263 – paragraph 1 – subparagraph 3
Member States may allow, free of charge for the transmission of the data from electronic invoices using other data formats which ensure interoperability with the European Standard on electronic invoicing.
Amendment 20 #
2021/2229(INL)
Recital F b (new)
F b. whereas, in order to respect the letter of the treaties, a permanent calculation mechanism should be put in place in order to establish a composition that reflects the demographic developments in the Member States of the Union;
Amendment 22 #
2021/2229(INL)
Paragraph 2
Amendment 31 #
2021/2229(INL)
Paragraph 4 a (new)
4 a. Recalls that Article 4(3) TEU establishes a duty of sincere cooperation and a mutual legal obligation for the Union and the Member States to assist each other in carrying out tasks which flow from the Treaties; recalls in this regard that Council should start negotiations with Parliament not from the moment when it considers that a majority or unanimity can be achieved but within a reasonable timespan from the moment a file has been transferred to its secretary; considers that the postponement of a decision on the modification of the European electoral law is against the duty of loyal cooperation and has a negative impact on the next composition of the European Parliament;
Amendment 33 #
2021/2229(INL)
Paragraph 5
Amendment 39 #
2021/2229(INL)
Paragraph 5 a (new)
5 a. Proposes to establish a permanent mechanism for calculating the composition of Parliament and suggests, as it is done in the Council of the European Union, to give a mandate to Eurostat to produce updated statistics one month before the mid-term and a recommendation on the composition of Parliament based on these; commits to draw up its proposal to the Council on the basis of these technical recommendations;
Amendment 40 #
2021/2229(INL)
Paragraph 5 b (new)
5 b. Instructs the Committee on Constitutional Affairs to propose the details of such a procedure that would implement the requirements of the article 14(2) TEU and include a permanent calculation method used to establish degressive proportionality;
Amendment 1 #
2021/2213(INI)
Draft opinion
Paragraph -1 (new)
Paragraph -1 (new)
-1. Welcomes the emphasis that the new Partnership Agreement between the EU and the members of the Organisation of African, Caribbean and Pacific States (OACPS –Post-Cotonou Agreement) places in achieving the United Nations Sustainable Development Goals (SDGs) and adhering to the Paris Climate Agreement, as overarching objectives of the agreement; calls on the parties to ensure that the Post-Cotonou Agreement and their trade agendas are powerful tools for advancing the United Nations 2030 Agenda and its SDGs;
Amendment 4 #
2021/2213(INI)
Draft opinion
Paragraph -1 a (new)
Paragraph -1 a (new)
Amendment 5 #
2021/2213(INI)
Draft opinion
Paragraph -1 b (new)
Paragraph -1 b (new)
-1b. Underlines that the Post-Cotonou Agreement will not change trading arrangements between the EU and the OACPS countries, whose partnership will continue to be based on separate trade agreements and instruments, notably the regional EPAs and the Generalised System of Preferences scheme; welcomes that the essential elements of the Post- Cotonou Agreement in the area of human rights, democratic principles and rule of law apply to all EPAs; expects all EU trade agreements and instruments with OACPS countries, such as, amongst others, the review of the EPAs, Aid for Trade, and technical support for the African Continental Free Trade Area (AfCFTA) to reinforce the social, sustainable and green trade dimensions;
Amendment 9 #
2021/2213(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. RecallAcknowledges the statement of the UN Economic Commission for Africa indicating that it believes the economic partnership agreements between EU and African countries could have negative consequences for intra-African trade; is concerned about the negativattentive to the effects that the new Partnership Agreement between the EU and the members of the Organisation of AfrACPS might have on intra-African trade; calls on the Commission to uphold the politicanl, Caribbean and Pacific States (OACPS – Post-Cotonou Agreement) might have onfinancial, technical and policy assistance provided to OACPS countries, namely its African partners, towards the smooth implementation of the AfCFTA in view of promoting intra-African trade;
Amendment 20 #
2021/2213(INI)
2. Insists that the agreement’s trade and investment provisions must be tailored to benefit all parties; is concerned about a misn pursuance of a just and fair partnership; underlines the need to strike the right balance of benefitings between the EU overand the OACPS countries, in line with the parties' rights and obligations under the Post-Cotonou Agreement; calls on the Commission to guarantee that the OACPS countries benefit from trade relations; calls on the Commission to improvoptimise EU market access for OACPS producers; calls on the Commission to promote sustainable investment opportunities to advance digital and green infrastructure in the OACPS countries;
Amendment 32 #
2021/2213(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Recognises that the Westernan ambitious interpretation of sustainability has been applied for the first time in the Post-Cotonou Agreement; is concerned, while being mindful of the parties’ respective levels of development and policy priorities; believes that the terminology of the agreement focuses ontakes into account the goals and perspectives of the EU and those of the OACPS countries to the same extent; calls for an investigation into the differences in interpretation and application of sustainability criteria and the application of these criteria in the Post-Cotonou Agreement;
Amendment 40 #
2021/2213(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Is concerned that the suspension clauses may not be legally validRecalls the juridical standing of the Post-Cotonou Agreement and the legally-binding nature of its provisions, including the suspension clauses in Article 101(8); calls on the Commission to guarantee that the suspension clauses will be correctly applied in the event of violations of essential elements; emphasises that suspension of clauses should not harm the population, but should target those responsible for violations; underlines the importance of dialogue throughout said procedures, and welcomes the inclusion of the mechanism for consultation as a positive and distinctive feature of the agreement;
Amendment 45 #
2021/2213(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Strongly stresses the important link between trade, the eradication of poverty and support for sustainable development; underlines the role of women in the economies and societies of the OACPS countries; calls on the Commission to increase the participation of women in EU- OACPS trade and investment relations.; urges the parties to take actions to achieve gender equality and women’s economic empowerment;
Amendment 46 #
2021/2213(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Welcomes the expanded space for civil society in the Post-Cotonou Agreement, and calls for a structured and effective engagement of civil society actors in the implementation of the agreement, including on trade issues, as a key enabler of transparency, accountability, good governance and democratic rule; welcomes the strong parliamentary dimension of the Post- Cotonou Agreement, and commits to monitoring its implementation and that of the trade agenda with social rights, environmental protection and the United Nations SDGs at the centre of our concerns.
Amendment 10 #
2021/2200(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the Indo-Pacific region has become a geopolitical and geoeconomic reality; whereas the region’s growing economic, demographic, and political weight makes it a key player in shaping the international order and in addressing global challenges; whereas the global economy’s centre of gravity has shifted from the Atlantic to the Pacific;
Amendment 16 #
2021/2200(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the EU currently has four bilateral trade agreements in place in the region (with Japan, Singapore, South Korea and Vietnam) and, five strategic partnerships (with ASEAN, China, India, Japan and South Korea) and two connectivity partnerships (with Japan and India);
Amendment 24 #
2021/2200(INI)
Motion for a resolution
Recital D
Recital D
D. whereas geopolitical competition between the United States and China continues to rise with significant effects on global tradein the global order between key players continues to rise, namely between US and China, with significant effects on global trade; whereas recent events have affected globally sustainable supply chains and sourcing of critical raw materials and escalating energy and food prices; whereas EU- China relationship has a multifaceted nature where China is both a cooperation and negotiating partner, but is also an economic competitor and a systemic rival in a number of areas;
Amendment 34 #
2021/2200(INI)
Motion for a resolution
Recital F
Recital F
F. whereas the Regional Comprehensive Economic Partnership (RCEP) – led by ASEAN and signed as well by Australia, China, Japan, the Republic of Korea and New Zealand – entered into force in January 2022, thereby creating the world’s largest trading bloc; whereas the RCEP stands to promote greater regional cooperation in trade and investment and in digital trade while addressing regulatory issues to ease cross- border movements while including only limited provisions on labour and environment; and failing to be inclusive, people-oriented, weak on human rights, with lack of consultation of civil society organisations.
Amendment 44 #
2021/2200(INI)
Motion for a resolution
Recital G
Recital G
G. whereas the COVID-19 crisis has accelerated a number of geopolitical trends that were already under way; whereas it also highlighted the need for deepening international cooperation namely in the health sector; whereas it has also shown vulnerabilities in the global supply chains and has made clear the need for more diversification;
Amendment 55 #
2021/2200(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the EU strategy for cooperation in the Indo-Pacific, which identifies tradesustainable and fair trade and investment as a priority; believes its main focus on inclusiveness and cooperation is essential; calls for the EU’s strategic approach and engagement with the Indo- Pacific region to be developed based on the multilateral, rules-based international order with a modernised World Trade Organization at its core, based on the principles of open environment for trade and investment, a level playing field, reciprocity and mutual benefit, based on shared values and principles, including a commitment to respecting democracy, human rights and the rule of law; stresses that this new approach should constitute a fundamental reorientation based on sharedcommon interests as the region is vital to EU prosperity;
Amendment 57 #
2021/2200(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Calls on the Commission to increase its engagement with the Indo- Pacific region to build partnerships that reinforce the rules-based international order, address common global challenges, and lay the foundations for a just and sustainable economic recovery that creates long-term prosperity for both regions; reaffirms this engagement should be based on promoting democracy, the rule of law, human rights, labour rights and ratification of ILO Conventions, and universally agreed commitments such as the 2030 Agenda and its Sustainable Development Goals ( SDG’s), and the Paris Agreement on Climate Change.
Amendment 59 #
2021/2200(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Considers that the Indo-Pacific region is vital for mitigating climate change and protecting the planet’s ecological balance; believes that the EU’s engagement should seek to contribute to achieving the SDGs goals, to addressing climate change and environmental degradation and to supporting sustainable and inclusive socio-economic development, with the Green Deal at its core; therefore, calls on the Commission to engage in bilateral and multilateral cooperation with partners to meet the objectives of the Paris Agreement on Climate Change and the Convention on Biological Diversity (CBD); recalls the Indo-Pacific region is still severely hit by the COVID-19 pandemic, therefore a stronger focus is needed on securing access to the COVID-19 vaccine; calls on the Commission to work with countries of the region for pandemic preparedness including engaging in an international pandemic treaty; welcomes recent progress on the negotiations for a Covid- 19 related TRIPS waiver and insists that any outcome should cover vaccines, diagnostics and treatments.
Amendment 60 #
2021/2200(INI)
Motion for a resolution
Paragraph 1 c (new)
Paragraph 1 c (new)
1 c. Underlines that the Indo-Pacific region hosts major waterways that are of vital importance to EU trade and that 40% of the EU’s foreign trade passes through the South China Sea, making ocean governance and stability in this region a shared concern and area of cooperation; believes the EU should reinforce cooperation with Indo-Pacific partners in bilateral, regional and multilateral contexts, with the ASEAN, the African Union in the Western Indian Ocean and the ACP, to promote the rules-based international order, access to open markets and ensure a stable trading environment promoting economic growth, job creation and better living standards; underlines that further diversifying and deepening trade and investment ties should result in mutually supportive trade and economic relations with the region fostering inclusive economic growth and stability, promoting and facilitating connectivity; outlines that policy-making and cooperation with the region should promote inclusivity and assure that the voices of civil society, the private sector, social partners and other key stakeholders are taken into account.
Amendment 62 #
2021/2200(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls on the Commission to strengthen partnerships with all relevant actors in the Indo-Pacific, taking into consideration sub-regional dynamics and specificities, and to work closely with its Indo-Pacific like-minded partners to reinforce value chains by strengthening and diversifying trade relations in order to reduce strategic dependencies in critical supply chains with a particular focus on technologies and raw materials, by working towards the full implementation and better enforcement of existing trade agreements, by finalising ongoing trade negotiations and by developing cooperation in strategic sectors; underlines the importance of working together with like-minded Indo-Pacific countries on establishing technical standards, to further promote the EU as a global standard-setter;
Amendment 70 #
2021/2200(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the EU should make better and more strategic use of its economic leverage while respecting the political and economic specificities of its partner countries in order to reach its geopolitical goals, by deploying its full, integrated range of policy instruments for this purpose; and to promote global and binding standards on development, fiscal fairness, consumer protection, labour rights, and climate change while contributing to the region’s stability, security, prosperity and sustainable development, in line with the principles of democracy, rule of law, human rights and international law.
Amendment 83 #
2021/2200(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Welcomes the substantial growth in bilateral trade between the EU and South Korea since the FTA entered into force in 2011; is pleased with the recent steps taken by South Korea in respect of the ratification and implementation of International Labour Organization (ILO) Conventions No 29, No 87 and No 98 and the implemented changes on the labour code; calls on South Korea to speedily take the necessary steps to ratify the outstanding ILO Convention No 105; supports further cooperation between the EU and South Korea on semiconductors;
Amendment 85 #
2021/2200(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls on the remaining EU Member States to proceed with the internal ratification of the EU-Singapore IPA and PCA, signed in October 2018, in particular given the importance of Singapore as the EU’s largest FDI destination in Asia, with EU FDI stocks in Singapore amounting to EUR 256 billion at the end of 2020; calls on Singapore to make increased efforts towards ratifying and implementing the fundamental ILO conventions;
Amendment 90 #
2021/2200(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Believes the EU-Japan Economic Partnership Agreement has been instrumental in creating more sustainable trade; welcomes the increase in the preference utilisation rates for EU exports to Japan in 2020; underlines that further progress is needed in the implementation of the agreement, in particular as regards the utilisation rates of tariff rate quotas opened by Japan for EU exporters, the liberalisation of trade in services and; welcomes the undertakings of Japan towards the ratification ofthe outstanding ILO Cconventions No 105 and further calls for swift progress on the ratification of ILO convention No 111;
Amendment 96 #
2021/2200(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Call onUrges the Member States to ratify the EU-Vietnam IPA and PCA so that it enters into force and creates favourable conditions to boost EU investment in Vietnam and in the region, in particular in areas promoting green transformation and the circular economy; underlines the importance of the TSD Chapter for the EU and calls for a swift set up of the Domestic Advisory Groups (DAG); urges Vietnam to guarantee a full implementation of the sanitary and phytosanitary provisions; invites Vietnam to complete its key labour reforms in accordance with the agreement and to swiftly ensure the ratification of ILO Convention No 87 by 2023;
Amendment 104 #
2021/2200(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls for continuing actions oriented at raising awareness among businesses, stakeholders, civil society, social partners and citizens of existing FTAs in the region and the opportunities they provide; calls for strengthened technical and financial support where necessary to help partner countries to effectively implement FTAs, in particular the chapters on TSD;
Amendment 113 #
2021/2200(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for substantive progress and the conclusion of negotiations on the EU- Australia and EU-New Zealand FTAs by no later than mid 2022 in order for the European Parliament to be able to duly ratify these balanced agreements in the current parliamentary mandate, not compromising the content of the agreement over the calendar;
Amendment 115 #
2021/2200(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Welcomes the decision to resume negotiations with India on a comprehensive trade agreement with India and supports, as an intermediate andand mutually beneficial trade agreement promoting shared values of freedom, democracy, pluralism, the rule of law, equality, respect for human rights, a commitment to promoting an inclusive, coherent and rules-based global order, effective multilateralism, fighting climate change, enforceable trade and sustainable development and promoting peace and stability in the world; welcomes as a positive step, the conclusion of a stand- alone IPA and possibly of an agreement on geographical indications; welcomes the establishment of permanent structures such as high-level dialogues in several sectors; calls on India to step up its engagement and meet the EU’s ambition on content and timetable;
Amendment 122 #
2021/2200(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Underlines the need for the EU to pursue its multifaceted engagement with China, especially in this geopolitically challenging global contextdialogue with China, taking into account the present geopolitically challenging global context, including on the Russian invasion of Ukraine; stresses that it is important to continue engaging bilaterally to promote solutions to common challenges and to cooperate on issues of common interest;.
Amendment 124 #
2021/2200(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Acknowledges that the discussions on the ratification of the Comprehensive Investment Agreement between the EU and China have been put on hold in the European Parliament for the moment; believes, however,considers that dein spite ourf multiple diffvergences wethe EU should continue to maintain dialogue at all levels and through various channels to be able to understand eplomatic dialogue with interlocutors at all appropriate levels to find a way out of the present situation; recalls that is essential full respect for universal values and to abide by international standards including with regard to its impacht others positions and in particular to find a way out of the present situation; n climate, the environment, biodiversity, poverty, health, labour rights and human rights; urges China, in the context of promoting sustainable trade and development, to take concrete action towards the ratification and implementation of the four outstanding fundamental ILO conventions; calls on the Commission, the Council and all Member States to uphold the EU’s core values.
Amendment 136 #
2021/2200(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Is looking forward toBelieves that the EU-China Summit taking place in April 2022; trusts that it will could contribute to calming the recently escalating trade and geopolitical tensions between both parties, that it will allowallowing for progress towards developing a much more balanced economic relationship based on reciprocity and that it will help to resolve the crisis linked to sanctions imposed on EU policymakers, including members of the European Parliament;
Amendment 144 #
2021/2200(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes recent progress in negotiations on the Comprehensive Economic Partnership Agreement with Indonesia, including on sustainability related areas, and renewed commitment by both sides to conclude this agreement; stresses that according to the Commission, the agreement could bring 2.3 % growth to the GDP of Indonesia by 2032;
Amendment 147 #
2021/2200(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Regrets the fact that negotiations on a bilateral trade and investment agreement with Philippines, which started in 2015, have been put on hold; acknowledge due to continuous violation of human rights and conditions to progress were not met; recalls that negotiations should only resume once the worrying and critical situation concerning human rights and the rule of law in Philippines has improved;
Amendment 2 #
2021/2184(INI)
Motion for a resolution
Citation 9 a (new)
Citation 9 a (new)
— having regard to The Five Presidents’ Report of 22 June 2015 entitled ‘Completing Europe’s Economic and Monetary Union’;
Amendment 11 #
2021/2184(INI)
Motion for a resolution
Citation 23 a (new)
Citation 23 a (new)
— having regard to the ECB recommendation of 15 December 2020 on dividend distributions during the COVID- 19 pandemic;
Amendment 12 #
2021/2184(INI)
Motion for a resolution
Citation 23 b (new)
Citation 23 b (new)
— having regard to the Commission communication of 16 December 2020 on tackling non-performing loans in the aftermath of the COVID-19 pandemic (COM(2020)0822);
Amendment 13 #
2021/2184(INI)
Motion for a resolution
Citation 23 c (new)
Citation 23 c (new)
— having regard to its resolution of 14 March 2019 on gender balance in EU economic and monetary affairs nominations;
Amendment 14 #
2021/2184(INI)
Motion for a resolution
Citation 23 d (new)
Citation 23 d (new)
— having regard to its resolution of 25 March 2021 on strengthening the international role of the euro;
Amendment 15 #
2021/2184(INI)
Motion for a resolution
Citation 23 e (new)
Citation 23 e (new)
— having regard to the Monitoring report on risk reduction indicators published by the Single Resolution Board on November 2021;
Amendment 16 #
2021/2184(INI)
Motion for a resolution
Citation 23 f (new)
Citation 23 f (new)
— having regard to the ECB's feedback letter on the input provided by the European Parliament as part of its 'resolution on Banking Union - Annual Report 2020';
Amendment 17 #
2021/2184(INI)
Motion for a resolution
Citation 23 g (new)
Citation 23 g (new)
— having regard to the Commission proposal of 24 November 2015 for a regulation of the European Parliament and of the Council amending Regulation (EU) No 806/2014 in order to establish a European Deposit Insurance Scheme (COM(2015)0586);
Amendment 18 #
2021/2184(INI)
Motion for a resolution
Citation 23 h (new)
Citation 23 h (new)
— having regard to the European Supervisory Authorities (ESAs)’ second joint risk assessment report of September 2021;
Amendment 24 #
2021/2184(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the bBanking uUnion (BU) currently consists of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM), ensuring full alignment between supervision and management of banking crises; whereas the BU still lacks completion with the establishment of an European Deposit Insurance Scheme (EDIS) and the implementation of the backstop for the Single Resolution Fund;
Amendment 29 #
2021/2184(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas the COVID-19 pandemic crisis has demonstrated that a strong, resilient and well-capitalised banking sector, combined with integrated capital markets, is vital to support the recovery of the European economy;
Amendment 30 #
2021/2184(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
A b. whereas, despite the unprecedented uncertainty caused by new virus variants, the banking sector has responded to the COVID-19 pandemic crisis with resilience, founded on the regulatory overhaul enacted since the global financial crisis, facilitated by the Single European Rulebook and single supervision in the Banking Union, and supported by extraordinary and needed public policy relief measures and capital conservation practices;
Amendment 31 #
2021/2184(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
A c. whereas a more stable, competitive and convergent Economic and Monetary Union requires a solid Banking Union with a European Deposit Insurance Scheme (EDIS) and a more developed and safe Capital Markets Union (CMU);
Amendment 32 #
2021/2184(INI)
Motion for a resolution
Recital A d (new)
Recital A d (new)
A d. whereas consumer and investor protection is paramount to the deepening of the CMU, and strong EU consumer protection rules providing a strong minimum baseline are necessary; whereas the Banking Union still lacks effective tools to tackle the problems consumers are facing, such as artificial complexity, unfair commercial practices, the exclusion of vulnerable groups from using basic services and the limited involvement of public authorities;
Amendment 33 #
2021/2184(INI)
Motion for a resolution
Recital A e (new)
Recital A e (new)
A e. whereas the completion of the Banking Union beyond its two existing pillars, in particular the establishment of an EDIS, remains a priority;
Amendment 34 #
2021/2184(INI)
Motion for a resolution
Recital A f (new)
Recital A f (new)
A f. whereas the provisions set out in the Deposit Guarantee Schemes Directive (DGSD) provide for a minimum baseline of protection for depositors; whereas, however, depositors across the Banking Union should enjoy the same level of protection through the establishment of an EDIS;
Amendment 35 #
2021/2184(INI)
Motion for a resolution
Recital A g (new)
Recital A g (new)
A g. whereas the backstop for the Single Resolution Fund (SRF) will have been introduced by 2022, two years earlier than previously envisaged, providing a common, system-wide safety net for banks in resolution;
Amendment 36 #
2021/2184(INI)
Motion for a resolution
Recital A h (new)
Recital A h (new)
Amendment 37 #
2021/2184(INI)
Motion for a resolution
Recital A i (new)
Recital A i (new)
A i. whereas the EU and the UK are currently committed to maintaining regulatory and supervisory cooperation in the field of financial services; whereas this cooperative approach should underpin long-term EU-UK relations;
Amendment 38 #
2021/2184(INI)
Motion for a resolution
Recital A j (new)
Recital A j (new)
A j. whereas the European Commission will extend its temporary permit allowing European banks and fund managers to use UK clearing houses therefore avoiding any short-term cliff- edge effects;
Amendment 47 #
2021/2184(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the problems of the banking sector may worsen afteran early or uncoordinated withdrawal of the temporary support measures introduced during the COVID-19 crisis are liftedcould see the re-emergence of some pre- crisis deficiencies and vulnerabilities of the banking sector;
Amendment 54 #
2021/2184(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Amendment 60 #
2021/2184(INI)
Motion for a resolution
Recital D
Recital D
D. whereas some financial institutions in the BU are heavilyhave invested in the debt of their own home sovereign;
Amendment 64 #
2021/2184(INI)
Motion for a resolution
Recital E
Recital E
E. whereas the role of the banking sector is crucial to the recovery and transition to a low-carbon economy; whereas climate change, environmental degradation and the transition to a low- carbon economy are factors to be taken into account when assessing the sustainability of banks’ balance sheets, as a source of risk potentially impacting investments across regions and sectors; whereas further assessment needs to be conducted on the best way on how to internalise these potential risks;
Amendment 78 #
2021/2184(INI)
Motion for a resolution
Recital F
Recital F
F. whereas there are numerous challenges to the digitalisation of finance; whereas same risks should be subject to the same prudential rules;
Amendment 82 #
2021/2184(INI)
Motion for a resolution
Recital G
Recital G
G. whereas there is a need for effective anti-money laundering supervision; whereas the further strengthening and harmonisation of EU prudential and anti- money laundering supervision and enforcement, which are necessary to protect the integrity of the EU’s financial system, are a priority;
Amendment 93 #
2021/2184(INI)
Motion for a resolution
Recital H
Recital H
H. whereas consumers, investors and all depositors should be wellproperly protected;
Amendment 101 #
2021/2184(INI)
Motion for a resolution
Paragraph -1 (new)
Paragraph -1 (new)
-1. Recalls that Banking Union (BU) is an essential complement to the Economic and Monetary Union (EMU) and the internal market, which aligns responsibility for supervision, resolution and funding at EU level and forces banks across the euro area to abide by the same rule book;
Amendment 105 #
2021/2184(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Recalls that one goal of the BU isthe BU aims to ensure that the banking sector in the euro area and the wider EU is stable, safe and reliable, thus contributing to financial stability as wells as to promote the security of the banking system and the prevention of bank bailouts by tax payers; supports efforts to strengthen and complete the BU; stresses that a solid and complete BU will result in increased confidence in the banking sector;
Amendment 111 #
2021/2184(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Underlines the vital contribution to addressing the COVID-19 crisis of temporary measures such as public guarantee schemes, moratoria on loan repayments for borrowers in financial difficulty, the revised State aid framework, the central banks’ liquidity programmes and the ECB’s targeted longer-term refinancing operations (TLTRO), asset purchase programme (APP) and pandemic emergency purchase programme (PEPP); also welcomes the targeted changes to the Capital Requirements Regulation (CRR) introduced by the ‘CRR quick fix’ in order to support banks’ lending capacity to households and businesses;
Amendment 113 #
2021/2184(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Points out the importance to secure a well-coordinated, prudent, gradual and targeted shift from pandemic relief to recovery support tools, including reforms in the Member States through the national recovery and resilience reform plans; notes that an early or uncoordinated withdrawal of the temporary measures could see the re- emergence of the pre-crisis deficiencies and vulnerabilities of the banking sector, potentially compromising growth and the outcome of the recovery;
Amendment 125 #
2021/2184(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the relatively goodWelcomes the temporary relief measures put in place as an initial containment measure to limit economic damage caused by the pandemic and protecting the performance of banks during the COVID- 19 crisis is rela; noteds to the policies implemented by the Member States during the pandemic, as well as to temporary measures under Regulation (EU) 575/2013 (Capital Requirements Regulation)hat economic support measures must remain in place as long as necessary, and should be tailored to current and expected economic circumstances;
Amendment 140 #
2021/2184(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls the key role of the EU banking sector inat a strong, resilient, well-regulated and well-capitalised EU banking sector is vital to support and financinge the recovery of the European economy;
Amendment 144 #
2021/2184(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
Amendment 146 #
2021/2184(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Notes that a fully-fledged Banking Union, together with a fully integrated and strong CMU, would contribute to the resilience of the European economy, and support the functioning of the EMU; welcomes therefore, the legislative proposals presented on 25 November 2021 to advance on CMU; highlights the importance of a level playing field that avoids disadvantages for SMEs in terms of access to finance, and the need to carefully monitor the issuance of securitised products; reiterates that bank- like systemic risks can occur where credit intermediation takes place in an environment where regulatory standards and supervisory oversight are looser than for regular banks; calls on the Commission and ESAs to assess the need to better regulate the shadow-banking sector and to put forward, where appropriate, legislative proposals, and to continuously monitor the resilience of capital markets;
Amendment 147 #
2021/2184(INI)
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4 c. Highlights that the Recovery and Resilience Facility may provide impetus for the completion of the Banking Union, considering the crucial role of the banking sector in providing access to credit and channelling the available funding into the real economy, in particular into sustainable and socially responsible investments;
Amendment 148 #
2021/2184(INI)
Motion for a resolution
Paragraph 4 d (new)
Paragraph 4 d (new)
4 d. Underlines the important role of public finance and investments, alongside private investments, in supporting the climate transition, as established in the Sustainable Europe Investment Plan;
Amendment 157 #
2021/2184(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Notes that the EBA, the ECB and the SRB still see many problemchallenges in the banking system, such as high stocks of non-performing loans (NPLs), exposures to sectors which are sensitive to the COVID- 19 crisis, deficiencies in risk management, and discrepancies in the implementation of International Financial Reporting Standard 9 (IFRS 9); underlines with concern that these problemchallenges are likely to increase after the withdrawal of the emergency measures;
Amendment 167 #
2021/2184(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Supports the ongoing work on the implementation of the Basel III rules; recalls that the transposition of these rules into EU law should be Basel compliant, although taking into account the principle of proportionality, and respect, where appropriate, the specificities and diversity of the EU banking sector; stresses that deviations from the internationally agreed rules should be temporary and EU regulation should converge to full compliance with Basel III standards over time;
Amendment 178 #
2021/2184(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Notes that the banking sector is adapting to the challenges of digitalisationWelcomes the accelerated pace of digitalisation in the banking sector, allowing banks to better serve clients remotely and offer new products and providing opportunities for increased cost-efficiency; stresses the need for further investments, research and adequate regulations; appreciates the work on the digital finance package; considers that the priority should be customer safety, inclusiveness and technological neutrality; observes with interestcalls for full respect for consumers’ rights and considers of outmost importance to promote financial inclusion, especially for vulnerable groups with low digital or financial literacy levels; appreciates the work on the digital eurofinance package;
Amendment 187 #
2021/2184(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Observes with interest the work on the digital euro; welcomes the objective of the digital euro functioning alongside cash as a means of secure and competitive digital payment; supports the ECB’s efforts in ensuring a high level of privacy, data protection, confidentiality of payment data, cyber resilience and security;
Amendment 189 #
2021/2184(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Recalls that the basis for the cooperation between the SSM and the UK Financial Conduct Authority is the Memorandum of Understanding between the ECB and the UK authorities, which entered into force on 1 January 2021; notes that the European Commission has recently announced the extension of its temporary permit allowing European banks and fund managers to use UK clearing houses, thereby avoiding any short-term cliff-edge effects;
Amendment 190 #
2021/2184(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Regrets the failure to ensure full gender balance in EU financial institutions and bodies, and in particular the fact that women continue to be underrepresented in executive positions in the field of banking and financial services; stresses that gender balance on boards and in the workforce brings both societal and economic returns; considers that the selection of applicants to EU financial institutions and bodies should be based on criteria of merit, diversity and ability, so that the institution or body involved operates as effectively as possible; calls on governments and all institutions and bodies to prioritise the achievement of full gender balance as soon as possible, including by providing gender-balanced shortlists of candidates for all future appointments in EU bodies;
Amendment 195 #
2021/2184(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Recalls its resolution of 14 March 2019 aiming to secure gender balance in the forthcoming list of candidates for EU economic and monetary affairs nominations and reiterates its commitment not to take into account lists of candidates where the gender balance principle has not been respected;
Amendment 211 #
2021/2184(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Considers the reduction of NPLs should remain a priority; warns that their number is likely to increase rapidly after the withdrawal of emergency support measuresat credit risk management and the continuation of reduction of NPLs should remain one of the key priorities; notes, however, that the aggregate non-performing loans ratio decreased further to 2.17% in the third quarter of 2021, despite the challenges caused by the pandemic thus confirming a downward trend; draws attention to the importance of prudential compliance, early identification and proactive management of NPLs;
Amendment 214 #
2021/2184(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Welcomes the ESAs’ second joint risk assessment report of September 2021 advising banks to prepare for a possible deterioration of asset quality in the financial sector, notwithstanding the improved economic outlook and to focus on proper assessment of the consequences of the pandemic on banks’ lending books, adequately manage the transition towards the recovery phase;
Amendment 217 #
2021/2184(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Is concerned about the rising level of sovereign debt on the balance sheets of banks in the BU; notes that government bondsNotes that the need to respond to the unexpected and serious challenges caused by the pandemic crisis has originated a rise of the share of sovereign debt on the balance sheets of banks; welcomes the creation of Next Generation EU and considers that it will provide high-quality, low-risk European assets, allowing for a re not risk-free balancing of sovereign bonds on banks’ balance sheets; emphasisets and that risks are differentiated; emphasiss that Next Generation EU will play an important role in supporting the recovery and must serve as an opportunity to enhance public and private investments and support the modernisation of the economy; notes that the issue of regulatory treatment of sovereign exposures requires an in-depth examination of the consequences of different approaches and be conducted within international fora;
Amendment 237 #
2021/2184(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that the transition to a low- carbon economy presents new challenges and risks related to the preferenceneed for sustainable investments; stresses the need for an in-depth analysis of the economic efficiency of sustainable investmentrecalls that the ECB has concluded its first ever large-scale assessment of climate and environmental (C&E) risks management of EU banks in 2021, and concluded that while initial steps have been taken towards in corder to avoid a future bubble of green assets; calls for clear guidelines for banks based on economic dataporating C&E risks, further progress is still warranted; emphasises therefore that further supervisory pressure is required for banks to disclose and address climate-related and environmental risks appropriately;
Amendment 244 #
2021/2184(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Notes with concern the difficulty to obtain credible and comparable data on C&E assets; welcomes the efforts of the SSM to provide guidance and clarity to banks for self-assessment and the appropriate reporting of environmental and climate change-related risks; welcomes the recent ECB’s launch of supervisory climate risk stress test that will assess how prepared banks are for dealing with financial and economic shocks stemming from climate risk; considers the SSM climate risk stress test an important step in evaluating banks’ practices and identifying concrete areas of improvement; commends, in this context, the recommendation of the ECB guide on climate-related and environmental risks, enhancing a strategic, comprehensive approach to tackling climate-related risk; considers that these self-assessments and reports must be consistent with the proportionality principle and must not undermine banks’ capacity and competitiveness; underlines the importance of the EU Taxonomy legislation;
Amendment 253 #
2021/2184(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 259 #
2021/2184(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Draws attentionNotes President Lagarde’s recent remarks before the ECON Committee stating that 'energy prices continue to be the dangers of a very loose monetary policy stimulating inflation; points out the need for the gradual tightening of monetary policymain reason for the elevated inflation rates' and that 'is likely to remain elevated for longer than previously expected, but to decline in the course of this year'; also recalls the European Economic Winter Forecast 2022 of the European Commission stating that 'inflation is expected to decline markedly in the final quarter of the year and settle at below 2% next year';
Amendment 287 #
2021/2184(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes the problems and challenges related to home/host issues; points out that greater market integration requires credible safeguards in EU law for host Member States; stresses that the completion of the Banking Union is of the utmost importance to solve the home/host concerns;
Amendment 294 #
2021/2184(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. SWelcomes the Commission’s action plan for a comprehensive Union policy on preventing money laundering and terrorism financing, published on 7 May 2020; stresses the need for effective anti- money laundering supervision; not and enforcement; welcomes the Commission’s adoption of the anti-money laundering package of proposals, in particular the proposal to establish a new European authority on anti-money laundering (AMLA) package of proposalas a single supervisor of selected obliged entities and as the host of a coordination and support mechanism for FIUs in the EU; stresses that the new authority AMLA should be equipped with adequate resources;
Amendment 303 #
2021/2184(INI)
17 a. Highlights the important role of the banking sector in the battle against tax avoidance; tax fraud, fight against money laundering and terrorism financing; reiterates Parliament’s position that increased audits and ‘know your customer’ requirements are in order for transactions involving countries in Annex I or II of the list of non- cooperative jurisdictions for tax purposes;
Amendment 304 #
2021/2184(INI)
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17 b. Welcomes the ECB’s efforts over the past two years to enhance exchange of information between the SSM and AML/CFT supervisors to better take into account AML aspects in prudential supervision measures;
Amendment 320 #
2021/2184(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Welcomes the activities of the SRB in 2021, including the further completion of the Single Resolution Fund; takes note of the SRB’s work programme for the coming years, which includes making the effective resolution of all banks under the SRB possible by 2023;
Amendment 322 #
2021/2184(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Welcomes the introduction of a backstop to the SRF in 2022, two years earlier than originally envisaged, in the form of a revolving credit line from the ESM, thereby providing a safety net for bank resolutions in the Banking Union; stresses the importance of the SRF in strengthening the crisis management framework and as an important step towards completing the Banking Union;
Amendment 324 #
2021/2184(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19 b. Supports the revision of the public interest assessment criteria by the SRB so that the choice of the best resolution strategy to be followed in case a bank enters into difficulties is applied in a more consistent and predictable manner; proposes that an alternative liquidation regime for small and medium-sized banks be considered; recalls that the setting of the minimum requirement for own funds and eligible liabilities (MREL) level is decided by the SRB on a case-by-case basis;
Amendment 346 #
2021/2184(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21 a. Takes note of the statement agreed by the Eurogroup at its meeting of 16 December 2021 which recalls its full political commitment to the Banking Union, and requests the Eurogroup to work in inclusive format to finalise on a consensual basis a time-bound work plan on the way towards its completion; calls on the Eurogroup to make all efforts in order to speed-up the process; recalls that the European Parliament is a co- legislator for the EDIS legislation and it also needs to urgently advance on its work;
Amendment 347 #
2021/2184(INI)
Motion for a resolution
Paragraph 21 b (new)
Paragraph 21 b (new)
21 b. Regrets that Member States continue to act outside the Community framework, undermining Parliament’s role as co-legislator; asks to be kept informed of the ongoing discussions at the level of the Eurogroup and of the High-level Working Group on the EDIS;
Amendment 348 #
2021/2184(INI)
Motion for a resolution
Paragraph 21 c (new)
Paragraph 21 c (new)
21 c. Stresses the importance of depositors across the Banking Union enjoying the same level of protection for their savings irrespective of their bank's location; points out that the implementation of the DGSD, guaranteeing up to EUR 100 000 in banking deposits, aims to contribute to a higher level of deposit protection but is not sufficient; acknowledges the Commission’s attempt to further strengthen citizens’ confidence in the protection of deposits by introducing an EDIS;
Amendment 350 #
2021/2184(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Recalls that the SSM and the SRM operate at EU level, while deposit guarantee schemes (DGSs) are operated at national level; recognises that a European deposit insurance scheme (EDIS) would improveis a key element of the BU's completion and will ensure a greater protection ofor depositors in the EU, reduce home/host challenges and foster deeper integration;
Amendment 364 #
2021/2184(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Notes the ongoing discussion of various concepts for the EDIS; considers, nonetheless, that any short-term solution found should not prevent the establishment of a fully mutualised EDIS as soon as possible;
Amendment 373 #
2021/2184(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. ConsiderRecalls that the main obstacles for EDIS are concerns about risks in some banking systems; stressesre has been considerable risk reduction in the banking sector over the past years, also as a result of targeted ECB Banking Supervision policies; supports the analysis of the SSM in this respect stating that "the implementation of credible and effective risk reduction measures could enable an agreement on EDISEDIS should not be linked to further risk reduction benchmarks";
Amendment 32 #
2021/2183(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Recalls that on 16 June 2020,the EU Defence Ministers decided to develop a Strategic Compass for security and defence; notes that a legal-political agreement is expected to be issued at the end of 2022; further notes that the Compass aims to foster a common European ‘strategic culture’, pushing Member-States towards a common understanding of the key threats to Europe and how the EU can be a security provider;
Amendment 34 #
2021/2183(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Believes that this exercise provides a good opportunity to discuss the possibilities for further implementation of Treaty articles on defense and security; Notes that these could also include considering an improvement in the decision-making process, namely Article 31 TUE, extending QMV to EU foreign and security policy, in areas of the common security and defense policy, as well as exploring the full use of passerelles clauses and the scope of articles that enhance the EU's solidarity and mutual assistance in case of crises;
Amendment 35 #
2021/2183(INI)
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Recalls the Treaty provisions that confer to the High Representative of the Union for Foreign Affairs and Security Policy the conduction of the Union's common foreign and security policy;
Amendment 36 #
2021/2183(INI)
Draft opinion
Paragraph 5 d (new)
Paragraph 5 d (new)
5 d. Highlights the role played by the High Representative of the Union for Foreign Affairs and Security Policy and recalls that the activation of passerelles clauses would allow to extend the scope of the qualified-majority decision making to the rest of the decisions, expect for security and defense.
Amendment 37 #
2021/2183(INI)
Draft opinion
Paragraph 5 e (new)
Paragraph 5 e (new)
5 e. Believes that the improvement of EU’s action in the field of security and defence should be part of the topics to be discussed in the framework of the Conference on the Future of Europe;
Amendment 21 #
2021/2182(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Recalls that on 16 June 2020,the EU Defence Ministers decided to develop a Strategic Compass for security and defense; notes that a legal-political agreement is expected to be issued at the end of 2022; further notes that the Compass aims to foster a common European ‘strategic culture’, pushing Member-States towards a common understanding of the key threats to Europe and how the EU can be a security provider;
Amendment 22 #
2021/2182(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Believes that this exercise provides a good opportunity to discuss the possibilities for further implementation of Treaty articles on defense and security; Notes that these could also include considering an improvement in the decision-making process, namely Article 31 TUE, extending QMV to areas of the common security and defence policy, as well as exploring the full use of passerelles clauses and the scope of articles that enhance the EU's solidarity and mutual assistance in case of crises;
Amendment 23 #
2021/2182(INI)
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Recalls the Treaty provisions that confer to the High Representative of the Union for Foreign Affairs and Security Policy the conduction of the Union's common foreign and security policy;
Amendment 24 #
2021/2182(INI)
Draft opinion
Paragraph 5 d (new)
Paragraph 5 d (new)
5 d. Highlights the role played by the High Representative of the Union for Foreign Affairs and Security Policy and recalls that the activation of passerelles clauses would allow to extend the scope of the qualified-majority decision making to the rest of the decisions, expect for security and defense.
Amendment 25 #
2021/2182(INI)
Draft opinion
Paragraph 5 e (new)
Paragraph 5 e (new)
5 e. Believes that the improvement of EU’s action in the field of security and defence should be part of the topics to be discussed in the framework of the Conference on the Future of Europe,
Amendment 1 #
2021/2177(INI)
Motion for a resolution
Citation 10 a (new)
Citation 10 a (new)
— having regard to its resolution on the 15th of January 2020 on the European Green Deal(2019/2956(RSP)),
Amendment 2 #
2021/2177(INI)
Motion for a resolution
Citation 10 b (new)
Citation 10 b (new)
— having regard to its report of 2 June 2021 on the trade-related aspects and implications of COVID- 19(2020/2117(INI)),
Amendment 3 #
2021/2177(INI)
Motion for a resolution
Citation 10 c (new)
Citation 10 c (new)
— having regard to the joint motion for a resolution of 29 January 2020 on India’s Citizenship (Amendment)Act, 2019 (2020/2519(RSP))
Amendment 6 #
2021/2177(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas India abstained during the 11th Emergency Special Session of the UN General Assembly on the resolution 'Humanitarian consequences of the aggression against Ukraine' while 140 countries voted in favour;
Amendment 10 #
2021/2177(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the EU is India’s third- largest trading partner and leading foreign investor, while India is the EU’s ninth- largest trading partner and only accounted for less than 2.1 % of its total trade in goods in 2021; whereas there is untapped potential for stronger, deeper and mutually beneficial economic cooperation, as long as European standards are protected;
Amendment 15 #
2021/2177(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas India still faces important challenges in relation to sustainable development, human rights and the environment, notably with respect to the situation of minorities and the fundamental freedoms; whereas the European Parliament voiced its concern on the Citizenship (Amendment) Act,2019 (CAA), excluding Muslims to citizenship protection;
Amendment 19 #
2021/2177(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas India has not yet ratified all fundamental ILO conventions, namely the Freedom of Association and Protection of the Right to Organise Convention (No. 87)and Right to Organise and Collective Bargaining Convention (No. 98); whereas the workforce of the informal economy of India still accounts for more than 90 % of the entire workforce; whereas this leaves millions of people without social insurance and a life in uncertainty1a; _________________ 1a https://www.ilo.org/wcmsp5/groups/public /---ed_emp/--- ifp_skills/documents/publication/wcms_73 4503.pdf
Amendment 21 #
2021/2177(INI)
Motion for a resolution
Recital E c (new)
Recital E c (new)
E c. whereas agriculture is only 20 per cent of India’s GDP, it employs 42 % of the total employment1a; whereas India ranks second globally in food and agricultural production; whereas India is one of the largest milk producers globally, it excluded dairy products in its agreements with Australia and the United Arab Emirates; whereas food security is a right, but stock piling global supplies is problematic, especially of perishable foods; whereas Indians farmer’s protested for more than a year against laws passed by Prime Minister Narendra Modi that would have allowed farmers to sell produce directly to buyers; whereas the laws were retracted in the end; _________________ 1a https://data.worldbank.org/indicator/SL.A GR.EMPL.ZS?locations=IN
Amendment 22 #
2021/2177(INI)
Motion for a resolution
Recital E d (new)
Recital E d (new)
E d. whereas the European Commission presented the Corporate Sustainability Due Diligence and amending Directive (EU) 2019/1937 on 23 February; whereas the European Parliaments has called for a legislative proposal on an effective traceability mechanism for goods produced through forced and child labour;
Amendment 23 #
2021/2177(INI)
Motion for a resolution
Recital E e (new)
Recital E e (new)
E e. whereas COVID-19 has caused a global pandemic, giving rise to an unprecedented global health, economic, social and humanitarian crisis, which has created bottlenecks and disruptions of an unprecedented scale to international trade; whereas major fashion brands refused to pay for $16bn of goods during COVID-19, leaving overseas suppliers unable to pay garment workers;
Amendment 37 #
2021/2177(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Stresses the economic and strategic importance of this agreement, which will only succeed if it manages to align the EU and India agenda and values in relation to sustainable development – to stimulate growth and employment, boost competitiveness, fight against poverty, make progress towards achieving the Sustainable Development Goals (SDGs), and support workers’ rights and fundamental freedoms;
Amendment 45 #
2021/2177(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Considers that the existing negotiating mandate is comprehensive and broad enough for negotiations to restart; takes the view, however, that an addendum is necessary to ensure thatNotes that for a swift adoption a trade agreement a complete revision of the negotiating mandate is not possible due to time restraints; stresses that the current mandate should be interpreted to be in line with modern standards to ensure that the environmental and human rights standard are at the core of the prospective comprehensive trade agreement; contains as integral parts thereof a dedicated chapter for SMEs, a dedicated chapter on raw materials to remove all export duties on raw materials, and an ambitious and enforceable trade and sustainable development chapteralls for an ambitious, binding and enforceable trade and sustainable development chapter which is subject to suitable and effective dispute settlement system with a sanctions-based mechanism that fully respects international commitments, and is aligned with the Paris Agreement and the European Green Deal,;
Amendment 66 #
2021/2177(INI)
Motion for a resolution
Paragraph 6 – introductory part
Paragraph 6 – introductory part
6. Encourages the negotiators to make good progress in achieving a comprehensive, state-of-the-art and WTO- compatible free trade agreement, giving priority to areas conducive to sustainable growth, addressing inequalities, and the digital and green just transitions, as follows:
Amendment 69 #
2021/2177(INI)
Motion for a resolution
Paragraph 6 – point i
Paragraph 6 – point i
i. the comprehensive elimination of tariffs and quotas on a reciprocal basis, while paying attention to sensitive products and ensuring that reductions will not be compensated by an increase in taxes and levies, including at state level, on imported, with a view to sensitive products;
Amendment 75 #
2021/2177(INI)
Motion for a resolution
Paragraph 6 – point ii
Paragraph 6 – point ii
ii. expedited, more transparent and less onerous customs, sanitary and phytosanitary procedures as well as a comprehensive single-window electronic certification process and the removal of disproportionate import bans;
Amendment 80 #
2021/2177(INI)
Motion for a resolution
Paragraph 6 – point iii
Paragraph 6 – point iii
iii. the elimination of onerousunjustified technical barriers to trade, including a review of the increasing number of obstacles of late such acurrent technical barriers ion ICT, medical devices, toys, alcoholic beverages, polished diamonds, food and steel; the agreement should seek to ensure compliance with the international standards of the International Organization for Standardisation (ISO), International Electrotechnical Commission (IEC) and International Telecommunication Union (ITU), go beyond the WTO Technical Barriers to Trade Agreement, ensurepreventing that there is no duplication of testing and certification, and streamline licensing schemes, quality control orders and clinical investigations;
Amendment 85 #
2021/2177(INI)
Motion for a resolution
Paragraph 6 – point iv
Paragraph 6 – point iv
iv. a comprehensive chapter on public procurement at all levels of governance in order to enforce the principles of transparency and non-discrimination in public procurement through effective remedy procedures; calls, in this respect, for India to accede to the WTO Agreement on Government Procurement and to prohibit ‘buy national’ practices;
Amendment 87 #
2021/2177(INI)
Motion for a resolution
Paragraph 6 – point v
Paragraph 6 – point v
Amendment 92 #
2021/2177(INI)
Motion for a resolution
Paragraph 6 – point vi
Paragraph 6 – point vi
Amendment 99 #
2021/2177(INI)
Motion for a resolution
Paragraph 6 – point vii
Paragraph 6 – point vii
vii. the establishment of modern rules of origin, in line with the EU’s other modern and comprehensive free trade agreementsexpected future directive of the recently presented Corporate Sustainability Due Diligence and amending Directive (EU) 2019/1937 proposal by the European Commission to ensure supply chain accountability;
Amendment 103 #
2021/2177(INI)
vii a. the inclusion of the newly presented circular economy action plan to ensure less waste, consumer empowerment, making sustainable products the norm and lead global efforts on circular economy
Amendment 107 #
2021/2177(INI)
Motion for a resolution
Paragraph 6 – point x
Paragraph 6 – point x
x. effective bilateral measures on safeguards in addition toline with the existing WTO trade defence instruments;
Amendment 117 #
2021/2177(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that the agreement should remove all discriminatory and disproportionate obstacles to establishment in services and manufacturing sectors in order to ensure a level playing field between EU and Indian operators, subject to special and differential treatment as appropriate;
Amendment 122 #
2021/2177(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Considers it expedient to provide interoperable data flows between the jurisdictions of India and the EU in total compliance with the General Data Protection Regulation (GDPR)5 and to agree upon international standards on intercompany transfer pricing, subject to special and differential treatment as appropriate; _________________ 5 OJ L 119, 4.5.2016, p. 1.
Amendment 125 #
2021/2177(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Invites the EU’s negotiating team to make best use of India’s commitment to multilateralism and an international rules-based trading orderRegrets the lack of progress to reform the WTO and to urges India to play a more decisive role in ongoing efforts to reform the WTO; applaudto secure meaningful results at the next MC 12 in line with its economic and political weight; notes the EU and India’s co-sponsored reform proposal for the WTO Dispute Settlement Body and calls on India to join the multi- party interim appeal arbitration arrangement; commends the commitment of EU and Indian leaders to enhancing coordination on global economic governance, notably in the WTO and G20; expects to be briefed about the results of the EU-India Senior Officials’ Dialogue, which aims to deepen bilateral cooperation on WTO issues under the auspices of the High-Level Dialogues on Trade and Investment;
Amendment 129 #
2021/2177(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 137 #
2021/2177(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. ReaffirmNotes that an investment protection agreement could be an adequate stepping stone for further strengthening bilateral trade relations; encourages the negotiators to agree onput more pressure on the founding of a multilateral investment court, and to only accept a dedicated EU- India investment court system as a stepping stone to a multilateral investment courtmporary solution, to which both the EU and India should adhere;
Amendment 141 #
2021/2177(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. WelcomNotes the establishment of two joint working groups to ramp up regulatory cooperation on goods and services, including on green and digital technologies and on resilient supply chains with representatives from different stakeholders, including social partners, NGOs and business representatives, on equal footing; stresses the crucial role of the High-Level Dialogues on Trade and Investment for ensuring good progress overall, including on long- standing market access issues; expects to be briefed and consulted promptly and regularly about the results of these dialogues;
Amendment 144 #
2021/2177(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls on the negotiators, as a matter of priority, to agree on the establishment of a bilateral ex ante consultation platform between the EU and India designed to facilitate discussions and consultations in advance of any new measures ;believes that such a platform subsidies that could negatively affect trade or investment; takes the view that business and industry associations should be able to bring any new trade or investment irritants to the attention of the secretariat of this platform; believehould have representatives from different stakeholders, including social partners, NGOs and business representatives, on equal footing; considers that the platform shcould eventually be made an integral part of the governance framework of the future trade agreement;
Amendment 148 #
2021/2177(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Considers that the conclusion of the EU-India free trade agreement should be supported with the establishment of a joint committee to provide joint monitoring, structured dialogue, and oversight by the European Parliament and both chambers of the Parliament of Indiato improve coordination, implementation and review of the measures of the TSD chapter and the agreement as a whole by the European Parliament and both chambers of the Parliament of India; stresses that the involvement of civil society in monitoring the implementation of the agreement is crucial, and calls for the swift establishment of Domestic Advisory Groups following the entry into force of the agreement and for the balanced representation of civil society therein, including independent organisations from the labour and environmental sectors; highlights that the Commission is failing to take into account the repeated demand from the European Parliament for greater enforceability and monitoring of commitments, for instance through the use of sanctions and a reform of the Domestic Advisory Group system;
Amendment 19 #
2021/2063(INI)
Motion for a resolution
Citation 15 a (new)
Citation 15 a (new)
— having regard to the ECB economy-wide climate stress-test of September 2021,
Amendment 52 #
2021/2063(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas 150 banks (<10% of total banks) account for 30% of total exposures to climate transition risks and physical risks and account for 60% of total emissions in the Eurozone; whereas, without orderly and rapid action on climate change, these banks suffer significant transition risks and would be five times more vulnerable than other banks to defaults in their portfolio as a result of climate change;
Amendment 58 #
2021/2063(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas the main physical risks identified in the ECB's economy-wide climate stress test are the risks of wildfires, which is unequally distributed in the Eurozone; whereas transition risks due to exposures in high-emitting industries are more equally spread in the Eurozone;
Amendment 62 #
2021/2063(INI)
Motion for a resolution
Recital E c (new)
Recital E c (new)
E c. whereas current price-increases due to gas shortages indicate the importance of the environmental transition to maintain price stability;
Amendment 241 #
2021/2063(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Considers that in its current form, the principle of market neutrality doesn't factor in negative externalities; deems that this therefore goes against the Treaty principle to ensure an "efficient allocation of resources" and excessively favours high-emitting sectors; Calls on the ECB to review its principle of market neutrality as soon as possible and replace it with a market efficiency principle that ensures the efficient allocation of resources over a long-term horizon;
Amendment 251 #
2021/2063(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Regrets the fact that green bond issuance in the EU represents only 2.6 % of the EU’s total bond issuance, but welcomes the creation of an EU Green Bond Standard as a way to increase the EU's dominance in this market; calls on the ECB to support the EU Green Bond Standard by creating space for their purchase in its asset portfolio;
Amendment 268 #
2021/2063(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Considers additional capital requirements and concentration limits for exposures to high emitting sectors an effective way to address the significant transition risks found in the ECB's economy-wide climate stress test;
Amendment 2 #
2021/2061(INI)
Motion for a resolution
Citation 2 a (new)
Citation 2 a (new)
– having regard to the Commission Communication of 27 May 2020 entitled ‘Europe’s moment: Repair and Prepare for the Next Generation’ (COM(2020)456),
Amendment 3 #
2021/2061(INI)
Motion for a resolution
Citation 2 b (new)
Citation 2 b (new)
– having regard to the Commission Staff Working Document of 27 May 2020 entitled ‘Identifying Europe’s recovery needs’ (COM(2020)456),
Amendment 4 #
2021/2061(INI)
Motion for a resolution
Citation 3 a (new)
Citation 3 a (new)
– having regard to its resolution of 6 June 2021 entitled ‘European Parliament’s Scrutiny on the ongoing assessment by the Commission and the Council of the national recovery and resilience plans’,
Amendment 7 #
2021/2061(INI)
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
– having regard to the Commission Communication of 4 March 2021 entitled ‘The European Pillar of Social Rights Action Plan’ (COM(2021)102),
Amendment 8 #
2021/2061(INI)
Motion for a resolution
Citation 7 b (new)
Citation 7 b (new)
– having regard to the Porto Social Commitment of 7 May 2021 of the Council, the Commission, the Parliament and social partners,
Amendment 10 #
2021/2061(INI)
Motion for a resolution
Citation 17 a (new)
Citation 17 a (new)
– having regard to the Commission Communication of 17 September 2020 entitled ‘Annual Sustainable Growth Strategy 2021’ (COM(2020)0575),
Amendment 11 #
2021/2061(INI)
Motion for a resolution
Citation 17 b (new)
Citation 17 b (new)
– having regard to the interinstitutional agreement of 16 December 2020 on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources (P9_TA- PROV(2020)0358),
Amendment 19 #
2021/2061(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the European Semester plays an essential role in coordinating economic, employment, social and budgetary policies in the Member States; notes that the Semester, has been expanded to include, among other aspects, issues related to the financial sector and taxation, as well as objectives of the UN SDGs; notes that in order to further strengthen economic and social resilience, the EU must deliver on the principles of the European Pillar of Social Rights;
Amendment 24 #
2021/2061(INI)
Motion for a resolution
Recital B
Recital B
B. whereas according to the Commission’s Summer forecasts, the GDP growth rate for 2021 stands at 4.38 % of GDP per capita in the euro area andand for 2022 at 4.25 % in both the EU 27, and is expected to rise to 4.4 % respectieuro area; whereas differences across countries in the pace of the recovelry in 2022from the crisis remain substantial;
Amendment 37 #
2021/2061(INI)
Motion for a resolution
Recital E
Recital E
E. whereas unemployment rates decreasedthe European Union overall lost more than 3 million jobs in 2020 and unemployment rates increased in all Member States during the crisis; whereas young people have experienced the sharpest decline in employment; whereas unemployment rates decreased since last summer to an average rate of 8.4 % in the euro area and 7.6 % in the EU 27 in May 2021, and; whereas a further decrease to unemployment rates are only expected to fall below 2019 levels in three Member States; whereas in April 2021, the youth unemployment rate was 17.81 % and 7 % respectively is expected in 2022in the EU and 17.2 % which is higher than the pre-crisis levels;
Amendment 42 #
2021/2061(INI)
Motion for a resolution
Recital F
Recital F
F. whereas in 2020, Member States provided total fiscal support estimated at more than 6.5 % of GDP, and as a result, the euro area and EU aggregate government deficit increased from historically low levels of around 0.5 % of GDP in 2019 to around 7 % in 2020, which will inevitably be reflected in the aggregate debt levels; whereas the increase in the deficit is mainly due to the adoption of new or extended emergency support measures in response to the need for new restrictions to economic activity in the first part of the year 2021;
Amendment 44 #
2021/2061(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas the magnitude of COVID- 19-related emergency measures is sizeable, at an estimated 4 % of GDP in both 2020 and 2021 in the EU as a whole, including emergency spending for firms, workers and on health-care; the underlying fiscal stance for the EU is expected to be slightly expansionary in 2022, also thanks to the fiscal support from the expected acceleration in spending financed by RRF grants;
Amendment 53 #
2021/2061(INI)
Motion for a resolution
Recital H
Recital H
H. whereas reference values of up to 3 % of planned or actual government deficit and 60 % of debt to GDP are defined by the TFEU; whereas these reference values were established in the early 1990s under fundamentally different economic circumstances and they are not based on a scientific analysis of the debt sustainability of public budgets;
Amendment 64 #
2021/2061(INI)
Motion for a resolution
Recital I
Recital I
I. whereas aspects relating to the possible future of the EU economic governance framework were dealt with by the review of the macroeconomic legislative framework in the report of the Committee on Economic and Monetary AffairsEuropean Parliament of 228 Junely 2021 dedicated to that issue;
Amendment 65 #
2021/2061(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas the recovery and resilience plans adopted by the Member States will encompass their national agenda of reforms and investments designed in line with the EU policy objectives, centred on policy areas: green transition; digital transformation; smart, sustainable and inclusive growth; social and territorial cohesion; health, economic, social and institutional resilience; policies for the next generation, children and youth;
Amendment 67 #
2021/2061(INI)
Motion for a resolution
Recital I b (new)
Recital I b (new)
Ib. whereas the crisis resulted in increasing social, territorial, and economic and gender based inequalities;
Amendment 68 #
2021/2061(INI)
Motion for a resolution
Recital I c (new)
Recital I c (new)
Ic. whereas the Union and its Member States have committed to the Treaty-based fundamental values, the implementation of the UN 2030 Agenda, the European Pillar of Social Rights (EPSR) and the Paris Climate Agreement;
Amendment 69 #
2021/2061(INI)
Motion for a resolution
Recital I d (new)
Recital I d (new)
Id. whereas during the Porto Social Summit held on 7 and 8 May 2021, the EU’s leaders recognised the European Pillar of Social Rights as a fundamental element of the recovery and whereas in the Porto declaration they underlined their determination to continue deepening its implementation at EU and national level;
Amendment 87 #
2021/2061(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Points out that the roll-out of the Recovery and Resilience Facility (RRF) will help to make EU economies and societies more sustainable, inclusive, resilient and better prepared for the just, green and digital transitions, foster economic, social and territorial cohesion, bring convergence and help the Member States to mitigate the economic and social impact of the crisis; notes that the facility, which is the centrepiece of NextGenerationEU, will provide large- scale financial support to Member States of up to EUR 672.5 billion in grants and loans to finance reforms and investments;
Amendment 105 #
Amendment 107 #
2021/2061(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is expected to be deactivated as of 2023; expects however that the general escape clause will remain activated as long as the underlying justification of the activation exists in order to support the efforts of the Member States to recover from the pandemic crisis and strengthen their competitiveness, as well as economic and social resilience; notes, furthermore, that the decision to deactivate the general escape clause should be taken as an overall assessment of the state of the economy based on quantitative criteria, with the level of economic activity in the EU compared to pre-crisis levels as the key, social and employment situation based on quantitative and quantlitative criteriona; points out that country-specific situations will continuhave to be taken into account also after the deactivation of the general escape clause;
Amendment 120 #
2021/2061(INI)
5a. Is of the opinion that the review of the EU economic governance framework is necessary; agrees with the European Fiscal Board (EFB) on the importance of having a clear pathway towards a reviewed fiscal framework, preferably prior to the deactivation of the general escape clause;
Amendment 130 #
2021/2061(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Is concernedNotes that according to the baseline scenario of the Commission’s latest Debt Sustainability Monitor, the debt ratio in the euro area is to peak at 104.6 % in 2024 and 2025, while the debt ratio in the Union is to peak at 96.5 % in 2024, before declining once again;
Amendment 132 #
2021/2061(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Considers that debt targets must properly reflect the new economic reality as well as country-specific challenges; notes the importance of establishing a sustainable pace of sovereign debt reduction, particularly for Covid-linked debt, thus preventing fiscal consolidation from harming economic performance and output;
Amendment 137 #
2021/2061(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Is convinced that coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance, taking into account national budgets and the RRF, should remain supportive in 2021 and 2022as long as necessary;
Amendment 150 #
2021/2061(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted, and that a premature withdrawal of fiscal support should be avoided; further highlights the expectation that economic activity will gradually normalise in the second half of 2021, depending on the further evolution of the pandemic, and agrees that Member States’ fiscal policies should become more differentiated in 2022, duly taking into account the state of the recovery, fiscal sustainability and the need to reduce economic, social and territorial divergences;
Amendment 164 #
2021/2061(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that Member States with high debt should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscal policyresponsible fiscal and sustainable policies without prejudice to social equity and Article 9 TFEU; stresses the importance of the Member States using the potential of the RFF to support the necessary structural changes in order to accelerate the transition to a more sustainable, resilient and socially inclusive EU and the transformation to more globally competitive, future-proof, agile industries; agrees that as the growth of nationally financed current expenditure should be kept under control and bpublic health situation normalises and restrictions affecting economic activity are limifted for, Member States with high debtcan start phasing out the underlying fiscal stance, allowing fiscal measures to maximise support to the recovery without pre- empting future fiscal trajectories and creating a permanent burden on public finances;
Amendment 183 #
2021/2061(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that environmental sustainability, productivity, fairness and macroeconomic stability remain the guiding principles of the EU’s economic agenda complemented through the six priorities of the RRF; stresses, furthermore, that the digital, green and just transformation of our societies, businesses and economies is crucial in order to increase Europe’s productivity and competitiveness for a robust recovery, in line with the Digital Decade;
Amendment 186 #
2021/2061(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Stresses that responsible fiscal and sustainable policies are a tool to achieve the overarching EU priorities as enshrined in the treaties: sustainable development based on balanced economic growth and price stability, a highly competitive social market economy aiming at full employment and social progress, a high level of protection and improvement of the quality of the environment;
Amendment 189 #
2021/2061(INI)
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12b. Calls on the Commission and the Council to ensure that gender equality and equal opportunities for all, and the mainstreaming of those objectives, are addressed in the country-specific recommendations and taken into account and promoted throughout the preparation and implementation of recovery and resilience plans;
Amendment 190 #
2021/2061(INI)
Motion for a resolution
Subheading 2
Subheading 2
Socially balanced, inclusive and sustainable structural reforms and, investment and public revenues
Amendment 191 #
2021/2061(INI)
Motion for a resolution
Paragraph -13 (new)
Paragraph -13 (new)
-13. Considers that coordinating national investment and reform efforts will be crucial to increase convergence and resilience, to promote sustainable and inclusive growth and to improve institutional frameworks;
Amendment 193 #
2021/2061(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key structural challenges and investment needs, while embracing the green and digital transitions; and welcomes that the recovery plans are based on priority criteria as set out in the Regulation on Establishing a Recovery and Resilience Facility, namely for the green transition, digital transformation, smart, sustainable and inclusive growth, social and territorial cohesion, health, economic, social and institutional resilience and policies for the next generation, children and the youth;
Amendment 196 #
2021/2061(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key structural challenges and investment needs, while embracing the green and digital transitions; stresses that restoring the growth potential will be a key element for the structural transformations needed to adapt to the challenges;
Amendment 201 #
2021/2061(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Stresses that the recovery efforts must go hand in hand with a lasting increase of public and private investment beyond the RRF in order to be able to address current and future challenges and to achieve the EU policy objectives; recalls the investment gap estimated by the Commission in 2020 for the EU of more than 600 billion annually; Is concerned about the assessment of the European Fiscal Board on the low level of investment pre-crisis and the consequently limited recovery of investment in some countries;
Amendment 214 #
2021/2061(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls for a focus on fiscal structural reforms, including reforms enhancing efficient spending,structural reforms that enhance efficient government spending, including the quality and efficiency of the financial administration and acknowledges that high-quality public finance resource management is crucial;
Amendment 216 #
2021/2061(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Highlights that national fiscal policies, together with Union policies, will play a crucial role in delivering the climate transition, thus fulfilling the EU's commitments and responsibilities in addressing climate change; underlines that social sustainability must be safeguarded during both the climate and digital transitions through public policies that create jobs, provide reskilling opportunities and establish adequate social protection; stresses, therefore, the importance of enabling climate and social investments, notably by creating a golden rule based on the exclusion of some clearly delineated expenditure from the fiscal rules;
Amendment 221 #
2021/2061(INI)
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14b. Recalls in this context, that taxation is one of the key policies monitored through the European Semester towards fairer and more growth- friendly tax systems; calls on the Council and its Member States to implement the recommendations in terms of addressing national measures to fight aggressive tax planning, tax evasion and tax avoidance or ineffective anti-money laundering measures;
Amendment 228 #
2021/2061(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the fact that the updated New European Industrial Strategy, the European Digital Strategy, the European Green Deal and all the other relevant strategies set out the framework for speeding up Europe’s recovery and transition towards a cleaner, more digital, and more resilient economic and industrial model, as well as for building a stronger and more resilient single market;
Amendment 236 #
2021/2061(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Highlights that tackling structural challenges is crucial for a sustainable recovery and continued growth, and that implementing reforms to address structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges but also to accomplishing the twin transitions in a sustainable and fair manner; and reduce social inequalities; notes that in order to further strengthen economic and social resilience, the EU must deliver on the principles of the European Pillar of Social Rights, the Sustainable Development Goals and the European Green Deal;
Amendment 239 #
2021/2061(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Is convinced that building a resilient economy calls for reinforcing the social dimension of European governance, aiming at providing adequate protection to all people as well as to promote efficient social and healthcare systems for everyone;
Amendment 241 #
2021/2061(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Is concerned that the Commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 Member States; is particularly worried that the nature and source of Member States’ imbalances remain largely the same as prior to the pandemic and that the pandemic could also be exacerbating economic divergences; notes the vulnerabilities in the financial sector as a result of the pandemic and calls on the Commission to pay close attention to national actions in relation to macro-financial stability, notably the risks of financial spillovers in the euro area; calls on the Member States to take advantage of the unprecedented opportunity provided by the RRF to significantly reduce existing macroeconomic imbalances;
Amendment 250 #
2021/2061(INI)
Motion for a resolution
Subheading 3
Subheading 3
European Semester and Country-specific recommendations (CSRs)
Amendment 252 #
2021/2061(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
Amendment 258 #
2021/2061(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Recalls that Member States, in their recovery and resilience plans, are required to effectively address all or a significant subset of challenges identified in the relevant CSRs, including the fiscal aspects thereof, and that beyond the scope of the RRF, those recommendations that are not addressed remain valid and will continue to be monitored under the European Semester framework; will continue to be monitored under the European Semester framework; Underlines, however, that the 2019 pre- pandemic CSRs should be interpreted in the light of the current crisis and the new challenges to ensure coherence between them, the 2020 CSRs and the general and specific objectives of the RRF regulation, and that future CSRs should not contradict the objectives of the RRF;
Amendment 263 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Recognises the role that the Commission has allotted to the European Semester in the Recovery Plan and its importance for policy coordination at EU level; stresses, however, that the effectiveness and success of the alignment of Member States’ investment and reform programmes will depend on the review of the Semester and, according to the outcome, its adaptation as well as the increased ownership by the Member States of the implementation of the CSRs;
Amendment 268 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19b. Highlights that the RFF exercise is also an unprecedented opportunity for the Commission and the Member States to learn from and improve the mechanisms driving the economic governance framework especially when it comes to the underlying political guidelines, cooperation between the institutions and increased ownership of the Member States developing the national reform programmes and implementing structural reforms;
Amendment 269 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 c (new)
Paragraph 19 c (new)
19c. Believes that the renewed and simplified EU Semester could profit from the lessons learned from the RRF process in regards to establish a more transparent and democratic coordination process when it comes to defining the guiding principles/policy objectives of the European Semester and the CSRs with full involvement of the European Parliament and the Member States as well as in regards to the reciprocal process between Commission and the Member States in developing the needed reforms and investment to achieve those policy objectives; therefore, calls on the Commission to closely assess the RRF exercise and draw conclusions for the review and adaptation of the European Semester cycle and the CSRs;
Amendment 270 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 c (new)
Paragraph 19 c (new)
19c. Calls on the Commission to align the 2022 European Semester cycle with the monitoring and implementation of the Recovery and Resiliency Facility; notes that according to the RRF Regulation, Member States should report twice a year in the context of the European Semester on the progress made in the achievement of the recovery and resilience plan and the Commission shall provide an annual report to the European Parliament and the Council on the implementation of the Facility; calls on, in this regard, to assess how the current European Semester tools such as the Country-Reports and In-depth Reviews could be adapted in order to ensure a true value added in the Semester process;
Amendment 273 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 d (new)
Paragraph 19 d (new)
19d. Reiterates the European Parliament’s call for strengthening its democratic role in the economic governance framework; calls therefore for an Interinstitutional Agreement on Sustainable European Economic Governance granting Parliament a right of consent on the policy recommendations presented in the Annual Sustainable Growth Survey, the Euro area fiscal stance and on the package of Country- specific Recommendations;
Amendment 274 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 d (new)
Paragraph 19 d (new)
19d. Recalls Member States on the possibility to request technical support under the Technical Support Instrument;
Amendment 275 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 e (new)
Paragraph 19 e (new)
19e. Calls on the Commission and the Member States to enhance the social dialogue;
Amendment 276 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 f (new)
Paragraph 19 f (new)
19f. Is concerned about the heavy administrative burden resulting from the twin processes of the RRF and the European Semester and asks the Commission to review the interlinkage and come forward with a streamlined approach; invites the Commission, moreover, to reassess if annually published CSRs fulfil the purpose to properly evaluate the need for and monitor structural reforms that are mostly implemented over a longer period of time;
Amendment 277 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 g (new)
Paragraph 19 g (new)
19g. Stresses the importance of the Macroeconomic Imbalance Procedure (MIP) in detecting, preventing and addressing macroeconomic imbalances in the EU, however, agrees to the findings of the European Court of Auditors* that its potential has not been fully exploited in such a way as to ensure the effective prevention and correction of imbalances; therefore, agrees that the surveillance under the Macroeconomic Imbalances Procedure in the new EU Semester cycle will need to be adapted and simplified taking into consideration the outcome of the review of the economic framework; *Special Report No 03/2018: Audit of the Macroeconomic Imbalance Procedure (MIP), European Court of Auditors.
Amendment 280 #
2021/2061(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 285 #
2021/2061(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Welcomes the DG ECFIN’s initiatives and ongoing reflection on the idea of an alternative set of indicators to measure economic, social and environmental progress, supplementing GDP as a welfare measure for inclusive and sustainable growth; is convinced that the EU policy objectives have to be reflected as well in terms of new measurements and granular performance indicators for progress; highlights in this respect the advanced statistical standards and the development of concepts and methods on international level, such as the beyond GDP framework of the OECD and the United Nations; urges the Commission to follow these international standards and integrate this approach in the EU economic governance framework;
Amendment 290 #
2021/2061(INI)
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20b. Calls for the Social Scoreboard of the European Pillar of Social Rights (EPSR) to be fully taken into account for the purposes of monitoring Member States´ performance in relation to the EPSR´s principles; takes note of the Commission initiative in confirming that the revised Social Scoreboard will be part of the policy coordination framework in the context of the European Semester; takes notes that the EU leaders welcomed the European Social Partners joint proposal for an alternative set of indicators to measure economic, social and environmental progress, supplementing GDP as welfare measure for inclusive and sustainable growth; calls for better reflecting scoreboards in policy recommendations;
Amendment 6 #
2021/2038(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Identifies trade policy as a strategic geopolitical tool for the transatlantic agenda; highlights the need to identify joint actions based on shared interests and values in order to contribute to a global sustainable and inclusive economic recovery; stresses that ‘workers and wages’ and more resilient and responsible supply chains should be at the core of such an agenda; in this regard encourages both sides to design similar tools to ban forced labour and exploitative labour conditions and to cooperate on improving respect for workers' rights and environmental standards in trade agreements including by building on each other's experience to enforce these provisions more efficiently; encourages both sides to join forces in promoting human rights, environmental and workers' rights also at the multilateral level;
Amendment 19 #
2021/2038(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes the US support for the new Director-General of the WTO, the US’s return to the Paris Agreement, the WTO tariff rate quota agreement and, the temporary suspension of Airbus Boeing tariffs, the announcement to start discussions to address global steel and aluminum excess capacity as well as the US willingness to engage in discussions on a potential TRIPS waiver;
Amendment 30 #
2021/2038(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Recognises at the same time that some diverging interests remain; in this regard, urges both sides to resolve bilateral disputes; urges the US to remove unilateral trade measures and refrain from taking further ones; urges the removal of section 232 tariffs on steel and aluminium; calls for a rapid and lasting solution on aircraft subsidies; calls for the suspension of announced trade retaliation on economic sectors such as footwear in Member States that have implemented a Digital Services Tax (DST) while negotiations are ongoing in the OECD framework; expects both sides to address the EU's concerns regarding the US Buy American Act and the Jones Act;
Amendment 43 #
2021/2038(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls for enhanced cooperation on WTO reform, including reinstating the appellate body,the reform of its 3 core functions which entails reforming and reinstating the appellate body as well as reinforcing the monitoring and deliberative function among others by making sure open plurilateral agreements can be included; urges both sides to cooperate on regulating trade in health products, setting an ambitious environmental agenda, and agreeingmong others by relaunching the negotiations on the Environmental Goods Agreement; expects both sides to agree on concrete deliverables for the 12th WTO Ministerial Conference (MC12); encourage including an agreement on fisheries, a declaration on trade and health, a work programme for reform of the dispute settlement system, a work programme on industrial subsidies and state owned enterprises as well as substantial progress on e-commerce negotiations; encourages both sides to update WTO rules on state owned enterprises, industrial subsidies and overcapacity as well as technology transfer to efficiently address the challenges posed by China: in this regard also supports expanding the trilateral initiative with Japan; expects both sides to stick to multilateral agreements;
Amendment 59 #
2021/2038(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Advocates, wherever possible, a joint strategic approach towards China, addressing the roots of unfair trade practices and tackling industrial subsidies, state-owned enterprises and human rights concerns by including a discussion on the US phase one agreement with China and the EU's CAI;
Amendment 69 #
2021/2038(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls on both sides to use trade as a mean to fight climate change and achieve upward convergence; in this regard urges both sides to cooperate on pricing carbon and in particular to coordinate on the development of a carbon border adjustment mechanism;
Amendment 71 #
2021/2038(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Advocates a joint approach on tackling the COVID-19 crisis among others by increasing the availability and affordability of vaccines; in this regard calls on both sides to refrain from any export restricting measures, enhance production capacity, ensure the proper functioning of supply chains and engage constructively on a potential TRIPS waiver; encourages both sides to increase regulatory cooperation to facilitate essential access to medicines.
Amendment 90 #
2021/2038(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Encourages both sides to find a framework for joint action and look for selective agreements via the relaunch of a high-level strategic dialogue; calls for a stronger regulatory, green and digital partnership through the Trade and Technology Council and; calls for a coordinated approach to critical technologies, a carbon border adjustment mechanism ands well as to digital and global taxes.
Amendment 96 #
2021/2038(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Calls for a continued and enhanced transatlantic parliamentary dimension on trade including within the framework of the Transatlantic Legislators' Dialogue; calls more specifically for the establishment of a sub- committee on Trade & Technology within the Transatlantic Legislators' Dialogue to complement the executive part of the Trade & Technology Council and to exercise democratic control thereof;
Amendment 101 #
2021/2038(INI)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Urges the Commission, as common practice, to be transparent in its cooperation with the United States among others by publishing all proposals that are sent to the United States as well as by guaranteeing the involvement of the European Parliament and civil society in the development of these proposals so as to enhance consumers' and citizens' trust;
Amendment 14 #
2021/2037(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Is convinced that the EU-China bilateral trade and investment relationship is of strategic importance and should be rules-based, with the multilateral trading system at its core; calls on the Commission and China to closely cooperate to reform the WTO rulebook to make the organization more flexible and fit for the challenges of the 21st century, in order to contribute to a more sustainable development, and promote the green transition and digital revolution; expects China to match its economic weight to its international obligations and restore a level playing field by addressing industrial subsidies, SOEs and overcapacity , forced technology transfer public procurement and intellectual property.
Amendment 26 #
2021/2037(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Is concerned about the increasingly unbalanced EU-China bilateral economic and trade relationship; stresses that rebalancing and a more level playing field are vital to EU interests; China and the EU must build a level playing field and a fruitful relationship, despite the differences between both economic systems; for that, the Union must complete its range of autonomous instruments: (screening of foreign direct investments; export of double use technology; state subsidies; access to public procurement; protection in front of coercive measures form third countries); and China must consider the need to meet European standards in aspect related to Trade, especially in the area of human rights and working conditions.
Amendment 44 #
2021/2037(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Urges the Chinese Government to ratify and implement ILO Convention n°29 on Forced Labour, ILO Convention n°105 on the Abolition of Forced Labour, ILO Convention n°87 on Freedom of Association and Protection of the Right to Organize and ILO Convention n°98 on the Right to Organize and to Collective Bargaining; urges China to ratify the International Covenant on Civil and Political Rights;
Amendment 67 #
2021/2037(INI)
5. Welcomes the conclusion at the political level of the EU-China Comprehensive Agreement on Investment (CAI); recalls that the CAI has to be considered in the context of a strengthened EU toolbox of unilateral measures; underlines it will thoroughly scrutinise the agreement, including its sustainable development section, and take stock of the human rights context, before determining its position;; reiterates its most serious concern about the various abuses of human rights in China, and recalls that full respect of universal values, despite the differences between both systems is essential; takes the position that the ratification of the EU-China Comprehensive Agreement on Investment (CAI), by the European Parliament, is suspended until the Chinese retaliatory sanctions are lifted.
Amendment 17 #
2021/2010(INI)
Motion for a resolution
Recital A
Recital A
A. whereas current international corporate tax rules are based on principles which were developed in the early 20th century and are no longer suited to an increasingly globalised and digitalised economy, thus enabling several harmful tax practices that undermine public finances and fair competition;
Amendment 30 #
2021/2010(INI)
Motion for a resolution
Recital F
Recital F
F. whereas, in accordance with a mandate given by G20 Finance Ministers in March 2017 and following the adoption of a Programme of Work (PoW) in May 2019, the OECD/G20 Inclusive Framework on BEPS (IF), through its Task Force on the Digital Economy, has been working on a consensus-based global solution based on two pillars: Pillar One on the allocation of taxing rights through new profit allocation and nexus rules and Pillar Two on addressing the remaining BEPS issues and introducing measures to ensure a minimum effective level of tax;
Amendment 38 #
2021/2010(INI)
Motion for a resolution
Recital I
Recital I
I. whereas adequate international tax laws are a key forto prevent tax evasion and tax avoidance practices, and to design a fair and efficient taxation system addressing inequality and ensuring certainty and stability, which are prerequisites for competitiveness, as well as for a level playing field between companies, especially for small and medium-sized enterprises;
Amendment 82 #
2021/2010(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that, on average, digital business models face significantly lower effective tax rates than traditional business models which rely on physical presence; regrets that tax avoidance linked to aggressive tax planning is not only detrimental to the collection of public revenues but also puts businesses, especially SMEs, at a disadvantage, while creating barriers for new local entrant, which hampers public services and shifs the tax burden towards the average citizen, thus creating more inequalities, but also puts businesses, especially SMEs, at a disadvantage, while creating barriers for new local entrants; highlights that in the meantime, the demand for digitalised services has exploded due to the obligation to operate many tasks remotely in the COVID-19 context; therefore observes that providers of such digitalised services will be among the economic winners of the pandemic crisis;
Amendment 156 #
2021/2010(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Insists therefore that, regardless of the progress of the negotiations at the G20/OECD IF, the EU should stand ready to roll out its own solutions for taxing the digitalised economy by the end of 2021; calls on the Commission to present proposals by June 2021, while anticipating their compatibility with the reform by the G20/OECD IF to be agreed on; stresses the need to create a level playing field for providers of traditional services and digital services in the EU by ensuring that the latterautomated digitalised services and consumer facing businesses are taxed at an adequate and fair rate; invites the Commission to consider in particular introducing a temporary European Digital Services Tax as a necessary first step; calls for the EU to implement the future outcome of the international negotiations in a harmonised way and invites the Commission to issue any relevant Proposal to that effect;
Amendment 170 #
2021/2010(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Understands that some Member States consider the taxation of digital economy an urgent issue and have therefore introduced digital services taxes at national level; recalls that these national measures should be phased out once a multilateral solution is found; calls on Member States to refrain from introducing national solutions unilaterally, as they create a risk of fragmentation of the single market; recalls that although taxation is primarily a Member State competence, they must exercise it in coherence with the common principles of EU law in order to ensure coherence between national frameworks, thereby allowing for fair competition and avoiding a negative impact on the overall coherence of EU taxation principles; notes that the procedure laid down in Article 116 of the Treaty on the Functioning of the European Union, under which Parliament and the Council act in accordance with the ordinary legislative procedure, may be applied if lack of regulatory harmonisation leads to market distortion within the Union;
Amendment 178 #
2021/2010(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Understands that some Member States consider the taxation of large digital economybusinesses an urgent issue and have therefore introduced digital services taxes at national level; recalls that these national measures should be phased out once a multilateral solution is found; calls on Member States to refrain from introducing national solutionsfor a swift agreement and implementation of the international solution in order to prevent the introduction of further unilaterally solutions, as they create a risk of fragmentation of the single market; recalls minds that although taxation is primarily a Member State competence, they must exercise it in coherence with the common principles of EU law in order to ensure coherence between national frameworks, thereby allowing for fair competition and avoiding a negative impact on the overall coherence of EU taxation principles;
Amendment 234 #
2021/2010(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the conclusions of the European Council of 21 July 2021, which task the Commission with putting forward proposals for additional own resources including a digital levyInterinstitutional Agreement on budgetary cooperation of 16 December 2020 (IIA) and recalls the legally binding commitment towards the introduction of an EU digital levy in the long-term EU budget as an own resource by 1 January 2023; underlines that revenues generated by digital taxation in the Member States will become an own resource;
Amendment 59 #
2021/0433(CNS)
Proposal for a directive
Recital 5
Recital 5
(5) It is necessary to lay down rules in order to establish an efficient and coherent framework for the global minimum level of taxation at Union level. The framework creates a system of two interlocked rules, together referred to as the GloBE rules, through which an additional amount of tax called a top-up tax should be collected each time that the effective tax rate (ETR) of an MNE in a given jurisdiction is below thea tax rate of at least 15 %. In such case, the jurisdiction is considered to be low-taxed. Those two rules are called the Income Inclusion Rule (IIR) and the Undertaxed Payment Rule (UTPR). Under this system, the parent entity of an MNE located in a Member State has the obligation to apply the IIR to its share of top-up tax relating to any entity of the group that is low-taxed, whether this is located within or outside the Union. The UTPR should act as a backstop to the IIR through a reallocation of any residual amount of top-up tax in cases where not the entire amount of top-up tax relating to low-taxed entities could be collected by parent entities through the application of the IIR.
Amendment 71 #
2021/0433(CNS)
Proposal for a directive
Recital 12
Recital 12
(12) The ETR of an MNE group in each jurisdiction where it carries out activities or of a large-scale domestic group should be compared to the agreeda minimum tax rate of at least 15 % in order to determine whether the MNE group or large-scale domestic group is liable to pay a top-up tax and consequently should apply the IIR or the UTPR. TheA minimum tax rate of 15 % agreed by the OECD/G20 Inclusive Framework on BEPSat least 15 % reflects a balance amongst corporate tax rates worldwide. In cases where the ETR of an MNE group falls below the minimum tax rate in a given jurisdiction, the top-up tax should be allocated to the entities in the MNE group that are liable to pay the tax in accordance with the application of the IIR and the UTPR, in order to comply with the globally agreeda minimum effective rate of at least 15 %. In cases where the ETR of a large- scale domestic group falls below the minimum tax rate, the UPE at the top of the large- scale domestic group should apply the IIR in respect of its low-taxed constituent entities, in order to ensure that such group is liable to pay tax at an effective minimum rate of at least 15 %.
Amendment 118 #
2021/0433(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 12
Article 3 – paragraph 1 – point 12
(12) ‘minimum tax rate’ means at least fifteen percent (15 %);
Amendment 84 #
2021/0378(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) Apart from the information in relation to financial services, capital markets and sustainability that has to be made public under Union law, investors, market participants, advisors and the public at large may have an interest in obtaining other information that an entity wants to make accessible. Small and medium-sized enterprises may want to make more information publicly accessible in order to become more visible to potential investors and thereby increase funding and diversify funding opportunities. Also, market participants may want to provide more information than that required by law or to make public the information required by national law but not available at Union level in order to complement the information provided to the public at the Union level. Any entity should therefore be allowed to make financial, sustainability- related and other relevant information accessible on ESAP. Pursuant to the principle of data minimisation, entities should ensure that no personal data are included, except where those data cannot be anonymised and constitute a necessary element of the information about their economic activities, including when the name of the entity coincides with the name of the owner. Where such information contains personal data, the entities should ensure that they can rely for such disclosure on one of the lawful grounds of processing laid down in Article 6 of Regulation (EU) 2016/679 of the European Parliament and of the Council26 . _________________ 26 Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).
Amendment 106 #
2021/0378(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) To promote data-driven innovation in finance, help integrate capital markets in the European Union, channel investments into sustainable activities, and bring efficiencies for consumers and businesses, ESAP should improve access to information that include personal data. ESAP should, however, only improve access to those personal data that have to be processed pursuant to Union law, or that are processed voluntarily provided that there is a lawful ground for such processing pursuant to Regulation (EU) 2016/679 of the European Parliament and of the Council. For any processing of personal data in the context of providing information via ESAP, the collection bodies, and ESMA in its capacity as operator of ESAP, should ensure that Regulation (EU) 2016/679 and Regulation (EU) 2018/1725 of the European Parliament and of the Council28 are complied with. Submitting entities should be responsible for the processing of personal data on the basis of one of the lawful grounds for processing listed in Article 6, point (1) of Regulation (EU) 2016/679 of the European Parliament and of the Council and for identifying the presence of personal data in the information. Information accompanied by a metadata identifying that it contains personal data should not be retained by collection bodies or ESAP for longer than necessary and in any event for no longer than 5 years, unless otherwise stated in the legal acts in the scope of ESAP. _________________ 28 Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39).
Amendment 130 #
2021/0378(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 7 a (new)
Article 2 – paragraph 1 – point 7 a (new)
(7 a) 'personal data' means personal data as defined in Article 4 paragraph 1 of Regulation (EU) 2016/679
Amendment 139 #
2021/0378(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point d
Article 3 – paragraph 1 – point d
(d) ensure that no personal data are included, except where the personal data constitute a necessary element of the information about its economic activities and that data cannot be anonymised.
Amendment 143 #
2021/0378(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point d a (new)
Article 3 – paragraph 1 – point d a (new)
(d a) ensure that the data is accurate and complete
Amendment 148 #
2021/0378(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point c a (new)
Article 3 – paragraph 2 – point c a (new)
(c a) standards for the automatic identification of personal data
Amendment 149 #
2021/0378(COD)
Proposal for a regulation
Article 3 – paragraph 2 – point c b (new)
Article 3 – paragraph 2 – point c b (new)
(c b) the cases under which personal data can be included in voluntary submissions
Amendment 150 #
2021/0378(COD)
(c c) the consequences of inaccurate or misleading information submissions
Amendment 151 #
2021/0378(COD)
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1
Article 3 – paragraph 2 – subparagraph 1
The Joint Committee of the European Supervisory Authorities shall submit those draft implementing technical standards to the Commission by [PO: please insert threewo years after entry into force].
Amendment 162 #
2021/0378(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point f – introductory part
Article 5 – paragraph 1 – point f – introductory part
(f) ensure that the information referred to in Article 1(1) remains available to ESAP for at least 10 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a). Personal data Where the metadata accompanying the information submitted pursuant to Article 1(1) refers to or contains indicates that the information includes any personal data, such information shall not be retained andnor be made available on ESAP for longer than 5 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a).
Amendment 163 #
2021/0378(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point f – introductory part
Article 5 – paragraph 1 – point f – introductory part
(f) ensure that the information referred to in Article 1(1) remains available to ESAP for at least 10 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a). Personal data in the information submitted pursuant to Article 1(1) shall not be retained andfor longer than necessary and in any case not be made available for longer than 5 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a).
Amendment 180 #
2021/0378(COD)
Proposal for a regulation
Article 7 – paragraph 1 a (new)
Article 7 – paragraph 1 a (new)
1 a. ESMA shall put in place appropriate technical and organisational measures to avoid excessive disclosure of personal data via the API or download reservice referred to in paragraph 1, points b and f of this article
Amendment 191 #
2021/0378(COD)
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
1. In order to promote transparency and the smooth functioning of European capital markets, ESMA shall ensure that access to ESAP is provided without discrimination.
Amendment 201 #
2021/0378(COD)
Proposal for a regulation
Article 8 – paragraph 3 – point e a (new)
Article 8 – paragraph 3 – point e a (new)
(e a) academics, news organisations and non-governmental organisations insofar as access to the data is necessary in the performance of their work.
Amendment 207 #
2021/0378(COD)
Proposal for a regulation
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
Personal data from ESAP shall be used or re-used in line with Regulation (EU) 2016/679 and any personal data that is re- used shall not be retained for longer than necessary and in any case not for longer than 5 years, unless provided for otherwise in the legal acts referred to in Article 1(1), point (a) of this Regulation.
Amendment 218 #
2021/0378(COD)
Proposal for a regulation
Article 11 – paragraph 3
Article 11 – paragraph 3
3. ESMA shall not storeensure that no information containing personal data except for automatic, intermediate and transient processing, including storage of that information insofar as strictly necessary for the purpose of givis stored on ESAP, unless necessary for facilitating easy and timely access to the information on ESAP and for implementing the relevant requirements set out in [this Regulation]. ESMA shall take appropriate technical and organisational measures to ensure that personal data processing via ESAP is carried out ing access to information provided by the collection bodies. ordance with Regulation (EU) 2018/1725 and that information is not retained or made available any longer than provided for in Article 5(1), point (f).
Amendment 222 #
2021/0378(COD)
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
By [PO, please insert a date 5 years after the entry into force of this Regulation], the Commission shall review the functioning of ESAP and assess its effectiveness. This review shall be accompanied by an overview of existing data-gaps in the EU and a strategy to address them. The review shall also include an assessment of the impact of this Regulation on the market position of private data providers in the EU. The Commission shall report to the European Parliament and to the Council on the results of this review.
Amendment 232 #
2021/0378(COD)
Proposal for a regulation
Annex I – Part A – point 21 a (new)
Annex I – Part A – point 21 a (new)
21 a. Regulation XXX on European green bonds
Amendment 233 #
2021/0378(COD)
Proposal for a regulation
Annex I – Part A – point 21 b (new)
Annex I – Part A – point 21 b (new)
Amendment 56 #
2021/0372(CNS)
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3 a) All Union citizens, including mobile Union citizens, should be able to fully exercise their political rights in the context of elections to the European Parliament, both as candidates and as voters. It is therefore necessary to ensure that every Union citizen has the right to participate in the democratic life of the Union;
Amendment 59 #
2021/0372(CNS)
Proposal for a directive
Recital 6 a (new)
Recital 6 a (new)
(6 a) In order to increase voter turnout in the elections to the European Parliament, Member States should make voting as accessible and easy as possible. Introducing postal voting as well as other possible additional means of voting could also be a way to facilitate the democratic participation of citizens;
Amendment 62 #
2021/0372(CNS)
Proposal for a directive
Recital 7 a (new)
Recital 7 a (new)
(7 a) Member States should, ahead of the elections to the European Parliament, foster awareness and information campaigns while improving accessibility requirements for people with disabilities, elderly and vulnerable people;
Amendment 65 #
2021/0372(CNS)
Proposal for a directive
Recital 8
Recital 8
(8) In line with International and European standards, including, the requirements of International Covenant on Civil and Political Rights and the law of the European Convention on Human Rights, Member States should not only recognize and respect the right of Union citizens to vote and to stand as a candidate but also ensure easy access to their electoral rights by removing as manyfinancial and unnecessary bureaucratic obstacles to participation in elections as possible.
Amendment 69 #
2021/0372(CNS)
Proposal for a directive
Recital 9
Recital 9
(9) In order to facilitate the exercise by Union citizens of their right to vote and to stand as a candidate in their country of residence, such citizens should be entered on the electoral roll in sufficient time in advance of polling day. TheCitizens should be duly and clearly informed of their rights in due time, as well as of any formalities that they might have to comply with. Where automatic registration has not occurred formalities applicable to their registration should be as simple as possible and accessible to vulnerable people. It should be sufficient for the Union citizens concerned to produce a valid identity card and a formal and user-friendly declaration that includes elements evidencing their entitlement to participate in the elections. Once registered, non- national Union citizens should remain on the electoral roll under the same conditions as Union citizens who are nationals of the Member State concerned, for as long as they satisfy the conditions for exercising the right to vote. Additionally, Union citizens should provide the competent authorities with contact information, enabling those authorities to keep them informed on a regular basis.
Amendment 80 #
2021/0372(CNS)
Proposal for a directive
Recital 20 a (new)
Recital 20 a (new)
(20 a) In order to foster the democratic participation of non-national Union citizens, Member States should provide appropriate, clear and inclusive information to Union citizens on the right to vote and on the possible administrative steps to exercise that right, as well as on the nature of the political system and traditions. Such information should be provided when the residence of non- national Union citizens is registered, either automatically or upon request, and should also be sent periodically, before European elections. Special attention should also be paid to the needs of vulnerable citizens, such as people with disabilities and elderly people;
Amendment 84 #
2021/0372(CNS)
Proposal for a directive
Recital 21
Recital 21
(21) In order to improve the accessibility of electoral information, such information should be made available in a clear and inclusive manner, and well ahead of the elections, in at least one other official language of the Union than that or those of the host Member State, broadly understood by the largest possible number of Union citizens residing on its territory. Member States may use different official languages of the Union in specific parts of their territory or their regions depending on the language understood by the largest group of Union citizens residing therein.
Amendment 88 #
2021/0372(CNS)
Proposal for a directive
Recital 22
Recital 22
Amendment 90 #
2021/0372(CNS)
Proposal for a directive
Recital 23
Recital 23
Amendment 92 #
2021/0372(CNS)
Proposal for a directive
Recital 24
Recital 24
Amendment 124 #
2021/0372(CNS)
Proposal for a directive
Article 14 – paragraph 1
Article 14 – paragraph 1
Member States tshat provide for the possibilities of advancell allow postal voting and shall consider the possible introduction of complementary enhancing tools such as advance physical voting, postalroxy voting, and electronic and internet voting, in elections to the European Parliament. Member States shall ensure the availability of those voting methods to Union voters under similarthe same conditions as the onesose applicable to their own nationals.
Amendment 128 #
2021/0372(CNS)
Proposal for a directive
Article 16
Article 16
Amendment 130 #
2021/0372(CNS)
Proposal for a directive
Article 16 – paragraph 1
Article 16 – paragraph 1
Amendment 135 #
2021/0372(CNS)
Proposal for a directive
Article 18 – paragraph 1
Article 18 – paragraph 1
Within two years after the 20294 elections to the European Parliament, the Commission shall assess its application and produce an evaluation report on the progress towards achievement of the objectives contained herein. The evaluation shall also include a review on the functioning of Article 13.
Amendment 323 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2013/36/EU
Article 66 – paragraph 2 – point c – point iv
Article 66 – paragraph 2 – point c – point iv
(iv) subject to Article 65(2), a temporary or a definitive ban of a member of the institution's management body or any other natural person who is held responsible for the infringement from exercising functions in the institution.
Amendment 327 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point b
Article 1 – paragraph 1 – point 10 – point b
Directive 2013/36/EU
Article 67 – paragraph 2 – point c – point iv
Article 67 – paragraph 2 – point c – point iv
(iv) subject to Article 65(2), a temporary or a definitive ban of a member of the institution's management body or any other natural person who is held responsible for the infringement from exercising functions in the institution;
Amendment 98 #
2021/0213(CNS)
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3 a) Insular, peripheral and remote regions had little alternative but to build their economic competitiveness with the support of air transport, enabling and promoting key economic flows and other drivers of economic development enabled by efficient and affordable air services. Improved air connectivity has brought about wider economic benefits, beyond those that benefit the immediate users of air transport networks. Beyond those that could be considered direct economic benefits of aviation, air connectivity between Member States serves as an essential catalyst for economic growth and social welfare. Air linkages that connect central Member States to the insular, peripheral and remote regions continue to make a vital contribution to economic growth.
Amendment 100 #
2021/0213(CNS)
Proposal for a directive
Recital 3 b (new)
Recital 3 b (new)
(3 b) Until cleaner energy is made available through technological advances, taxpayers are encouraged to consume smartly and use transport that consumes less fossil fuels. However, until more environmentally friendly alternatives are available, the insular, peripheral and remote regions will be at an economic disadvantage compared to the central ones. Insular, peripheral and remote regions should not be discriminated against since in the near future they will not have transport alternatives that are more ecological than air transport. Citizens and businesses on islands and at the periphery should continue to benefit from equivalent connectivity opportunities as their counterparts in more central areas of the Union.
Amendment 112 #
2021/0213(CNS)
Proposal for a directive
Recital 7 a (new)
Recital 7 a (new)
(7 a) For insular regions having no connections by road, train or bridge with the European mainland, and for peripheral and remote regions, especially those with an economy that is highly dependent on tourism, the kerosene tax should be waived for flights to and from such regions, during the first five years, and should then be raised in five equal annual steps in the following five years to reach the levels achieved for all flights at the end of the ten year period. All precautionary steps should be taken to avoid any "détournement de trafic" in kerosene usage.
Amendment 242 #
2021/0213(CNS)
Proposal for a directive
Article 7 a (new)
Article 7 a (new)
Amendment 384 #
2021/0213(CNS)
Proposal for a directive
Article 31 – paragraph 2
Article 31 – paragraph 2
The report by the Commission shall, inter alia, examine the minimum levels of taxation, the impact of innovation and technological developments, in particular as regards energy efficiency, the use of electricity in transport and the justification for the exemptions, reductions and differentiations laid down in this Directive. The report shall take into account the proper functioning of the internal market, environmental and social considerations, the real value of the minimum levels of taxation and, the impact of this directive on air connectivity and the economic and social welfare of insular, peripheral and remote regions as well as the relevant wider objectives of the Treaties.
Amendment 8 #
2020/2259(INI)
Motion for a resolution
Citation 25 a (new)
Citation 25 a (new)
— having regard to the OECD report of 9 October 2020 entitled ‘Green budgeting and tax policy tools to support a green recovery’,
Amendment 9 #
2020/2259(INI)
Motion for a resolution
Citation 28 a (new)
Citation 28 a (new)
Amendment 11 #
2020/2259(INI)
Motion for a resolution
Citation 29 a (new)
Citation 29 a (new)
— having regard to the World Bank's report of 27 May 2020 entitled 'State and Trends of Carbon Pricing 2020',
Amendment 12 #
2020/2259(INI)
Motion for a resolution
Citation 29 b (new)
Citation 29 b (new)
— having regard to the report of the United Nations’ High Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda of 25 February 2021 entitled 'Financial Integrity for Sustainable Development',
Amendment 13 #
2020/2259(INI)
Motion for a resolution
Citation 29 c (new)
Citation 29 c (new)
— having regard to the ongoing work of the United Nations Committee of Experts on International Cooperation in Tax Matters,
Amendment 14 #
2020/2259(INI)
Motion for a resolution
Citation 29 d (new)
Citation 29 d (new)
— having regard to the report of the United Nations’ Inter-agency Task Force on Financing for Development of entitled ‘Financing for Sustainable Development Report 2020’,
Amendment 15 #
2020/2259(INI)
Motion for a resolution
Citation 29 e (new)
Citation 29 e (new)
— having regard to the ongoing work of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS),
Amendment 17 #
2020/2259(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the fiscal system must be reformed by shifting the tax mix, making the tax system fairer and adjusting our redistributive mechanisms if the state is to continue establishing the preconditions for inclusive and sustainable well-being;
Amendment 23 #
2020/2259(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
A c. whereas the Covid-19 pandemic had an extremely negative overall impact on the economic performance of the European Union, including dramatic and asymmetric social consequences;
Amendment 24 #
2020/2259(INI)
Motion for a resolution
Recital A d (new)
Recital A d (new)
A d. whereas the European social model, based on quality public services and inclusive social protection, was paramount to face the consequences of the Covid-19 pandemic;
Amendment 25 #
2020/2259(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas inequality levels have increased throughout Europe when compared to 19808a and negatively impact human well-being; _________________ 8aWorld Inequality Database, 2019, How Unequal Is Europe? Evidence from Distributional National Accounts, 1980- 2017, https://wid.world/europe2019/
Amendment 27 #
2020/2259(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
A b. whereas the European Union and its Member States are committed to deliver on the Paris Agreement targets of keeping the increase in global average temperature to well below 2 °C above pre- industrial levels and to pursue efforts to limit the increase to 1.5 °C;
Amendment 33 #
2020/2259(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas these challenges require a fiscal framework that ensures sufficient room for public and private investments;
Amendment 43 #
2020/2259(INI)
Motion for a resolution
Recital C
Recital C
C. whereas tax morale is generally higher in countries that tax more heavily, which is evidence for the willingness of citizens to pay tax in return for effective public services and a social safety net9 ; _________________ 9 https://www.oecd- ilibrary.org/sites/0533eea9- en/index.html?itemId=/content/component/ 0533eea9-en
Amendment 68 #
2020/2259(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Amendment 77 #
2020/2259(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas the European institutions reached a broad agreement regarding the need to establish new own resources;
Amendment 79 #
2020/2259(INI)
Motion for a resolution
Recital E c (new)
Recital E c (new)
Amendment 104 #
2020/2259(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Underlines that taxation and tax collection have shifted the tax incidence from wealth to income, from capital to labour income and consumption, from MNEs to SMEs, and from the financial sector to the real economy, thus becoming more regressive; observes with concern this shift in the tax burden from more mobile to less mobile taxpayers, resulting in a lower average tax burden for the very income-rich11 ; _________________ 11European Commission, ‘Tax policies in the European Union’ survey, 2020, https://ec.europa.eu/taxation_customs/busi ness/company-tax/tax-good- governance/european-semester/tax- policies-european-union-survey_en
Amendment 107 #
2020/2259(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Regrets that capital income often enjoys lower levels of taxation when compared to labour income; notes that this contributes to increasing inequality;
Amendment 109 #
2020/2259(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Points out that technological progress and economic integration are making the taxpayers and tax bases of all types of tax increasingly mobile12 ; notes that this could reinforce the tendency to rely on immobile tax bases; highlights that under these circumstances, particularly when considering the freedom of capital and freedom of movement within the European Union, it is paramount to establish harmonised rules that provide more tax certainty and contribute to a level playing field; _________________ 12European Commission, ‘Tax policies in the European Union’ survey, 2020, https://ec.europa.eu/taxation_customs/busi ness/company-tax/tax-good- governance/european-semester/tax- policies-european-union-survey_en
Amendment 117 #
2020/2259(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. ObserveRegrets that in spite of the numerous calls for shifting taxation from labour to pollution, revenues from taxes on pollution and resources in particular have remained very low, and yet they offer accounting for a mere 0.2% of the total tax revenue in the EU12a; highlights the potential source forof increasing revenue through the application of the ‘polluter pays’ principle and that such taxes are difficult to evade owing to the character of the tax base; _________________ 12aEurostat, accessed in 2021, Environmental tax revenues, https://ec.europa.eu/eurostat/databrowser/ view/env_ac_tax/
Amendment 121 #
2020/2259(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Regrets that the current tax system still favours a linear supply chain by failing to provide sufficient incentives to better resource and waste management, recycling, re-usage and refurbishment; underlines that taxation plays a key role in ensuring our transition towards a circular economy and more sustainability; welcomes, in that regard, taxes on non- recycled plastic packaging waste and encourages similar alternatives;
Amendment 123 #
2020/2259(INI)
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Observes that the European Union managed to reach its emission reductions target for 2020; notes that reaching the targets under discussion for 2030 and 2050 requires more ambition, including in the field of taxation; stresses the importance of tax policy in reducing greenhouse gas emissions, particularly in the phasing-out of fossil fuels;
Amendment 127 #
2020/2259(INI)
Motion for a resolution
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Clarifies that the introduction of environmental taxes must lead to a more socially just tax system; stresses that any regressive effects of the new taxes requires adequate compensation measures, including at the European level;
Amendment 147 #
2020/2259(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Recognizes that the pandemic will have a significant impact on tax revenue; reminds that, if successful, most green taxes will provide diminishing revenue; notes that safeguarding fiscal sustainability in the long-term requires countries to consider and coordinate their approach on alternative sources; underlines that the implementation of new taxes must also consider the importance of a strong demand for a successful economic recovery;
Amendment 150 #
2020/2259(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Notes with concern that the impact of the COVID-19 pandemic is highly regressive, with the poorest households being the most severely hit14 ; reminds that an inclusive and sustainable economic recovery is a priority; regrets that large companies that realise excess profits, such as e-commerce businesses and wealthy individuals who realise significant capital gains through speculation, are often undertaxed; notes the growing discussion regarding how taxation can mitigate the negative impacts of the extreme accumulation of wealth and profits; _________________ 14OECD, ‘Tax and Fiscal Policy in Response to the Coronavirus Crisis: Strengthening Confidence and Resilience’, 19 May 2020,https://www.oecd.org/ctp/tax- policy/tax-and-fiscal-policy-in-response- to-the-coronavirus-crisis-strengthening- confidence-and-resilience.htm
Amendment 157 #
2020/2259(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Highlights the prime role of income tax policies in curbing inequalities; notes that European cooperation and coordination is the optimal approach to ensure a fair taxation of capital gains and to safeguard the progressivity of taxation on income;
Amendment 159 #
2020/2259(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Reminds that digitalisation remains a main challenge for tax systems; notes that the outcome of the OECD international tax negotiations may provide a proper solution; welcomes the Commission’s commitment to put forward a proposal for a digital levy in case the OECD negotiations fail to provide an adequate outcome in the near future;
Amendment 160 #
2020/2259(INI)
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8 c. Calls on Member States to consider an harmonised corporate taxation framework for the EU that does not enable base erosion and profit shifting; highlights that reducing the friction of cross-border economic activity and ensuring a fair level playing field improves the conditions for businesses, in particular SMEs, to thrive in the single market; notes that failing to fix the dramatic loopholes in corporate taxation can lead to a scenario where national defensive measures proliferate, thus negatively impacting economic activity within the internal market;
Amendment 161 #
2020/2259(INI)
Motion for a resolution
Paragraph 8 d (new)
Paragraph 8 d (new)
8 d. Encourages the European Commission to study the tax revenue loss of not having a common withholding tax on dividends, interest and royalties in the European Union; expects the Commission to assess the results and, if adequate, put forward a legislative proposal;
Amendment 162 #
2020/2259(INI)
Motion for a resolution
Paragraph 8 e (new)
Paragraph 8 e (new)
8 e. Regrets the lack of progress towards a European financial transactions tax (FTT), initially tabled in the aftermath of the financial crisis; notes that the European Council of July 2020 mentions the FTT as a possible own resource; highlights that a coordinated approach is optimal given the free movement of capital;
Amendment 171 #
2020/2259(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Highlights that environmental taxes have the potential to cover the need for additional revenue while supporting a resilient, competitive, sustainable and carbon-free economy; calls on Member States to consider expanding the tax base for environmental taxes through inter alia natural resource taxes, distance-based charges in the transport sector, fuel prices, and the taxation of deforestation, landfill, incineration, pesticides and fertilizers; urges all Member States to prevent a 'race to the bottom' in environmental taxation;
Amendment 176 #
2020/2259(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. UStresses that a successful climate transition requires a socially sustainable approach; underlines that environmental taxation should be accompanied by a general tax shift, such as tonamely by lowering labour income taxes and social security contributions, to protect low-income households from regressive effects and to build more resilient, economically efficient and fairer tax systems15 ; notes that the specific tax design is at least as important as the tax type; _________________ 15IMF, ‘Fiscal Policies for Paris Climate Strategies – from Principle to Practice’, 1 May 2019, https://www.imf.org/en/Publications/Policy -Papers/Issues/2019/05/01/Fiscal-Policies- for-Paris-Climate-Strategies-from- Principle-to-Practice-46826
Amendment 183 #
2020/2259(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Warns that national budgets cannot rely on environmental taxes alone, as some of these revenues will fall as environmental harm decreases over time; calls on Member States to develop holistic tax reforms that safeguard long-term fiscal sustainability, shifting taxation from labour to not only pollution but also capital and wealth16 ; highlights that such options would dramatically benefit from a coordinated approach that prevents capital flight and the erosion of each country's tax base; _________________ 16European Commission, ‘Tax policies in the European Union’ survey, 2020, https://ec.europa.eu/taxation_customs/busi ness/company-tax/tax-good- governance/european-semester/tax- policies-european-union-survey_en
Amendment 197 #
2020/2259(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls on Member States to revise tax expenditure in all tax areas; calls on Member States to perform annual, detailed and public cost-benefit analyses of each tax provision; encourages the removal of tax expenditures which are at odds with the European Union’s political priorities, namely the European Green Deal;
Amendment 203 #
2020/2259(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Observes that there is also room for significant revenue and efficiency gains at tax administration level; notes that an effective and efficient tax administration, as well as a high degree of tax certainty, can encourage investment and foster competitiveness; stresses that leveraging digital technology is crucial towards a simpler, more effective and efficient tax collection;
Amendment 209 #
2020/2259(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
Amendment 211 #
2020/2259(INI)
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13 b. Stresses that tackling tax fraud and tax crimes is paramount to ensure a fair tax system; takes note of previous reports by the European Parliament which called for an ambitious review of the Anti-Money Laundering and Counter Terrorist Financing framework;
Amendment 224 #
2020/2259(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15 a. Reiterates that the tax shift must safeguard social sustainability; calls on the Commission to consider establishing appropriate EU-level compensation measures for negatively affected regions and communities; underlines that social earmarking for revenues of new own resources and coordinated taxes, including new environmental ones, can contribute decisively to the just transition dimension, namely by promoting more investments in sustainable and quality jobs;
Amendment 230 #
2020/2259(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the Commission’s soon- to-be-published revision of the Energy Taxation Directive17 ; calls on Member States to agree to close tax exemptions for aviation and maritime fuels, increase minimum rates and restore the level playing field; calls on the Commission to launch a proposal for a progressive European kerosene taxencourages the Commission to provide an impact assessment that considers the differentiated impact based on socioeconomic background and on each country; reminds that, for instance, low- income households and specific regions are more exposed to energy poverty issues; stresses that the climate transition must ensure affordable heating alternatives and contribute to reducing energy poverty; _________________ 17 OJ L 283, 31.10.2003, p. 51.
Amendment 240 #
2020/2259(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Encourages the Commission to put forward an ambitious carbon border adjustment mechanism (CBAM); highlights that this tool is paramount to prevent carbon leakage and promote sustainable jobs and sustainable industrial production; reminds that the CBAM must be WTO-compatible even if it means not being designed as a taxation measure;
Amendment 241 #
2020/2259(INI)
Motion for a resolution
Paragraph 16 c (new)
Paragraph 16 c (new)
16 c. Calls on the Commission to assess how to better integrate positive environmental impact on consumption taxes; stresses that a “green” VAT reduction could shape consumer preferences towards sustainable products and services;
Amendment 247 #
2020/2259(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Encourages the Commission to put forward all the legislative initiatives for taxation, including all mentioned new own-resources, as established in the Interinstitutional Agreement on budgetary cooperation of 16 December 2020;
Amendment 3 #
2020/2202(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas the Withdrawal Agreement allowed for the orderly withdrawal of the UK from the European Union; whereas the Withdrawal Agreement stablished a Joint Committee, which is responsible for the implementation and application of the Agreement; whereas the Withdrawal Agreement establishes six specialised committees covering the following areas: Citizens’ Rights; Other Separate Provisions; Ireland/Northern Ireland; Gibraltar; Sovereign Base Areas in Cyprus; and Financial Provisions;
Amendment 6 #
2020/2202(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas the misalignment between status under the EU Settlement Scheme (EUSS) and Withdrawal Agreement rights may present a risk of legal uncertainty for EU citizens;
Amendment 7 #
2020/2202(INI)
Motion for a resolution
Recital C b (new)
Recital C b (new)
C b. whereas the UK’s Independent Monitoring Authority (IMA) has been established on 31 December 2020;
Amendment 11 #
2020/2202(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas the European Commission published on 13 October 2021 bespoke arrangements to benefit Northern Ireland;
Amendment 12 #
2020/2202(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas the UK has recently put forward the Northern Ireland Bill which aims to unilaterally disapply Provisions of the Protocol; whereas such proposal constitutes a clear breach of international commitments under the Withdrawal Agreement;
Amendment 35 #
2020/2202(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Welcomes the UK’s establishment of the EU Settlement Scheme to fulfil its obligations to EU citizens and their family members; expresses concern at the high number of applicants, up to 41 0%, who are only accorded pre-settled status; is worried that EU citizens with pre-settled status have to make a second application to obtain settled status, which might lead to an automatic and illegal loss of their rights;
Amendment 37 #
2020/2202(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Notes that by 30 of September 2022 and under the EUSS, the UK received 6,874,700 applications of which 822,630 were received after the 30 June 2021 deadline; Notes that of the concluded outcomes, 50% (3,359,250) were granted settled status, 40% (2,677,190) were granted pre-settled status and 10% had other outcomes (including 375,400 refused applications, 143,550 withdrawn or void applications, and 131,150 invalid applications);
Amendment 39 #
2020/2202(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7 b. Is concerned about the late applicants situation, since many citizens remain in limbo about their immigration status, potentially generating problems in the context of the "UK's hostile environment policy";
Amendment 42 #
2020/2202(INI)
Motion for a resolution
Paragraph 7 c (new)
Paragraph 7 c (new)
7 c. Echoes the Commission's concerns regarding the lack of legal clarity to EU citizens, who hold a new UK residence status, as to whether their rights are guaranteed by the Withdrawal Agreement or by the UK immigration law;
Amendment 44 #
2020/2202(INI)
Motion for a resolution
Paragraph 7 d (new)
Paragraph 7 d (new)
7 d. Welcomes the Sixth joint report on the implementation of residence rights under part two of the Withdrawal Agreement of 26 January 2022;
Amendment 45 #
2020/2202(INI)
7 e. Welcomes the establishment of the IMA provided for in Article 159 of the Withdrawal Agreement, whose role is to make sure that the UK authorities adequately and effectively implement the rights provided for by the Citizens’ Rights agreements; Reiterates the importance of ensuring that the Authority exercises its role in a genuinely independent manner;
Amendment 46 #
2020/2202(INI)
Motion for a resolution
Paragraph 7 f (new)
Paragraph 7 f (new)
7 f. Welcomes the 2021 IMA’s Annual Activity Report to the Specialised Committee on Citizens’ Rights; Notes that the Authority has received 237 complaints in 2021 and that 70% of it are related to the Home Office related matters, including UK Visas and Immigration, Border Force and Immigration Enforcement;
Amendment 47 #
2020/2202(INI)
Motion for a resolution
Paragraph 7 g (new)
Paragraph 7 g (new)
Amendment 48 #
2020/2202(INI)
Motion for a resolution
Paragraph 7 h (new)
Paragraph 7 h (new)
7 h. Notes that IMA issued judicial review proceedings against the Home Office, as it considers their position that citizens who fail to apply for Settled Status before the expiry of their Pre-Settled Status automatically lose their rights is unlawful;
Amendment 83 #
2020/2202(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Recalls that Spain and the UK reached an understanding on a possible framework for an agreement on Gibraltar on 31 December 2020; Recalls that on 20 July 2021 the Commission presented a recommendation for a Council decision authorising the opening of negotiations with the UK in respect of Gibraltar and for negotiating directives; Notes that the Council adopted a decision authorising the opening of negotiations for an EU-UK agreement in respect of Gibraltar, as well as the negotiating directives on 5 October 2021; Notes that as of October 2022, nine negotiating rounds have been completed;
Amendment 108 #
2020/2136(INI)
Motion for a resolution
Paragraph 11 – introductory part
Paragraph 11 – introductory part
11. Considers that Article 50 of the TEU strikes a good balance between ensuring a withdrawal process and safeguarding the flexibility necessary for adaptation to the specific circumstances; believes, however, that, in the framework of a possible future reform of the Treaty, the opportunity of remedying some of the loopholes identifiedto further clarify some provisions in Article 50 of the TEU could be assessed, with particular regard to the following:
Amendment 112 #
2020/2136(INI)
Motion for a resolution
Paragraph 11 – indent 1
Paragraph 11 – indent 1
Amendment 121 #
2020/2136(INI)
Motion for a resolution
Paragraph 11 – indent 2
Paragraph 11 – indent 2
- a possible legal basis and strict conditions for transitional arrangements,
Amendment 124 #
2020/2136(INI)
Motion for a resolution
Paragraph 11 – indent 3
Paragraph 11 – indent 3
Amendment 136 #
2020/2136(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Believes, furthermore, that the withdrawal provisions of the Treaty should, as much as possible, ensure legal certainty for the EU citizens affected by the withdrawal, setting out minimum standards for the protection of their rightand an effective enforcement system for the protection of their rights without the prejudice of also include the creation of follow-up mechanisms and information campaigns;
Amendment 163 #
2020/2136(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Emphasises that the role of political oversight of the European Parliament is indispensable in a parliamentary democratic system; insists, in this regard, that no procedural constraints or political objectives should override or limit in time or scope the parliamentary scrutiny phase as regardsthe parliamentary powers regarding the scrutiny phase should be properly guaranteed as regards the conclusion of any international agreements, and in particular, those concluded in the context of a withdrawal from the European Union;
Amendment 166 #
2020/2136(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Believes that both the Brexit Steering Group as well as the UK Coordination Group structures created by the European Parliament in the context of the negotiations with the UK were of the outmost importance to guarantee the follow-up and the involvement of the Parliament in the negotiations; Further believes that this experience provided a good example of collective coordination between institutions;
Amendment 168 #
2020/2136(INI)
17. Considers, in this context, that the role of the Parliament is essential in safeguarding the parliamentary and democratic dimension of a procedure with such a constitutional and institutional impact on the Union; considers that its role must be enhanced in any future Treaty reform, in all aspects of the process from the negotiations to the implementation of a withdrawal agreement, including for major decisions such as extensions in accordance with Article 50(3) of the TEU;and safeguarded in all relevant aspects of the process.
Amendment 67 #
2020/2133(INI)
Motion for a resolution
Paragraph 2 – introductory part
Paragraph 2 – introductory part
2. Considers that the new EU Ethics Body should be delegated ahave an agreed list of competences to implement ethics rules for Members and staff which should be foreseen in the necessary changes to the existing legislation; takes the view that this list should include by way of a minimum the competences provided for in:
Amendment 96 #
2020/2133(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Insists that the IIA should be open to the participation of all EU institutions and bodies; believes that the IIA should allow the Ethics Body to conclude agreementsexchange information with national authorities with a view to ensuring the exchange of informationthat are necessary for the performance of its tasks;
Amendment 136 #
2020/2133(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Believes that in relation to its enforcement powConsiders, the body could take over from the Appointing Authority in dealing with staff ethics obligations, and that in relation to Members of Parliament or Commissioners, the bat in case the EU Ethics Body cshould be grantediven enforcement powers within the limits of the provisions contained in the Treaties, and without prejudice to any additional mechanisms provided for in Parliament’s Rules of Procedure, in particular concerning terminbilateral agreements for good cooperation should be set up with each EU institution on the procedure envisaged to deal with the ethical obligations of officeCommissioners, MEPs and staff;
Amendment 202 #
2020/2133(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Insists that the decisions of the EU Ethics Body should be legally binding, without prejudice of the Parliament's competences refer to in paragraph 11, reviewable before the CJEU and subject to possible complaints to the EU Ombudsman;
Amendment 17 #
2020/2124(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas the EIB has taken on a significant role in mobilising financing to the economy following the economic fallout caused by the COVID-19 pandemic in 2020;
Amendment 20 #
2020/2124(INI)
Motion for a resolution
Recital B b (new)
Recital B b (new)
B b. whereas the EIB committed in 2019 to support the objectives of the European Green Deal, align all its financing activities with the goals of the Paris Agreement and become the ‘EU Climate Bank’;
Amendment 21 #
2020/2124(INI)
Motion for a resolution
Recital B c (new)
Recital B c (new)
B c. whereas the EIB Board of Directors approved the Climate Bank Roadmap (CBR);
Amendment 22 #
2020/2124(INI)
Motion for a resolution
Recital B d (new)
Recital B d (new)
B d. whereas the EIB has started the review process of its 2011 Transport Lending Policy, with the goal of supporting accessible, efficient, green and safe transport;
Amendment 23 #
2020/2124(INI)
Motion for a resolution
Recital B e (new)
Recital B e (new)
B e. whereas support for SMEs and Midcaps is a fundamental public policy goal of the EIB; whereas in 2019 alone, the EIB Group supported over 386 600 SMEs and mid-caps with new financing; whereas support for SMEs accounted for 35% of overall EIB signature volume;
Amendment 24 #
2020/2124(INI)
Motion for a resolution
Recital B f (new)
Recital B f (new)
B f. whereas EIB investment has the capacity to support the social sector, including health, education and housing;
Amendment 25 #
2020/2124(INI)
B g. whereas in 2019 the EIB approved loans worth EUR 7.8 billion for projects outside the Union, including EUR 1.1 billion in least developed countries (LDCs) and fragile states;
Amendment 26 #
2020/2124(INI)
Motion for a resolution
Recital B h (new)
Recital B h (new)
B h. whereas the EIB Group is currently working to develop counterparty alignment guidelines with environmental and sustainability objectives;
Amendment 27 #
2020/2124(INI)
Motion for a resolution
Paragraph -1 (new)
Paragraph -1 (new)
-1. Stresses that the economic and social crisis caused by the Covid-19 pandemic has significantly harmed economic growth in the EU and that one of the main fallouts is the decline in investment; underlines that the fall in public and private investment has reached alarming levels;
Amendment 35 #
2020/2124(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Supports the European Council’s conclusion that the EIB should have the necessary capital to implement Union policies and the invitation to the EIB Board of Governors to review the capital adequacy of the EIB in view of the instruments included in the MFF and NGEU, as well as the Bank's contribution to the Union's ambitions in fighting climate change and digitalising Europe's economy;
Amendment 46 #
2020/2124(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Takes the view that a capital increase is justified in order to allow the Bank to provide long-term finance and support key real economy investments that otherwise would have not taken place, while keeping the current AAA status;
Amendment 49 #
2020/2124(INI)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. Calls, in this context, on the European Commission to study the possibility to be represented in the EIB Board of Governors through the subscription of capital of the EIB using funds from the EU budget;
Amendment 61 #
2020/2124(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Commends the EIB for setting out targets and carrying out evaluations of the economic, social and environmental impacts of projects supported, as well as their additionality and sustainability;
Amendment 64 #
2020/2124(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Stresses the importance of avoiding further geographical imbalances in the EIB’s lending activity so as to ensure a broader geographical and sectoral allocation of investments, reduce regional disparities and enhance convergence; welcomes the efforts already made by the EIB in this regard; notices with concern, however, that, according to the geographical breakdown of lending by country in which projects are located, four Member States received almost 50% of the total loans granted in 2019;
Amendment 69 #
2020/2124(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Calls for the EIB to address systemic deficiencies that prevent certain regions or countries from taking full advantage of EIB financial opportunities, by, inter alia, strengthening its efforts to expand its loan activities, providing technical assistance and advisory support, especially in regions which attract low investment and which did not benefit significantly from the derogation to the State-aid rules during the pandemic crisis because of the lack of financial capacity of the State;
Amendment 76 #
2020/2124(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Calls, in this context, on the EIB to consider proposing additional incentives for projects and credit lines already approved in order to get the projects off the ground as soon as possible and ensure the swift implementation of funds;
Amendment 79 #
2020/2124(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Notes that in the context of the Coronavirus response and as of 30 September 2020, the EIB has approved 84 operations within the EU for a total investment of €23,5 billion; notes as well that 88% of the approved operations were allocated to SMEs and mid-caps and the health sector;
Amendment 81 #
2020/2124(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Welcomes the EIB’s participation in COVAX, by investing €400 million in the COVAX Advanced Market Commitment;
Amendment 87 #
2020/2124(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Welcomes the fact that in 2019 31% of EIB’s lending was climate- related;
Amendment 108 #
2020/2124(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Notes that the EIB will structure future work on the implementation of the Roadmap around ten new Action Plans, which will build on the first five years of implementation of the EIB’s 2015 Climate Strategy; Demands, in this context, to be regularly and fully informed on the implementation of the Roadmap;
Amendment 111 #
2020/2124(INI)
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14 b. Calls on the EIB to continue to advance mechanisms to better incorporate the inputs from various stakeholders, such as local and regional authorities, trade unions, NGOs and relevant experts, in its investment strategy as the EU’s Climate Bank;
Amendment 112 #
2020/2124(INI)
Motion for a resolution
Paragraph 14 c (new)
Paragraph 14 c (new)
14 c. Welcomes the EIB’s commitment to support the European Commission’s Sustainable Finance Action Plan, in particular by aligning with the EU Taxonomy for tracking climate action and environmental sustainability finance, and by adopting the “Do No Significant Harm” criteria as a base to evaluate projects;
Amendment 113 #
2020/2124(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Recalls that the review of the EIB’s transport lending policy is a key priority; stresses the importance of aligning the EIB’s transport portfolio with the Paris Agreement as soon as possible; calls for the swift adoption of a new transport financing policy strategy aiming to decarbonise the EU transport sector by 2050 and promote accessible, efficient, green and safe means of transport; underlines, in this context, that the EIB should continue its engagement in financing innovation and green technology for aviation;
Amendment 128 #
2020/2124(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Calls on the EIB to support projects aimed at facilitating a just transition in the Member States; underlines that the transition towards a carbon-neutral economy must be inclusive, fair and must leave no one behind; suggests the EIB to proactively work with Member States in view of supporting regions where jobs are highly dependent on high-emitting industries;
Amendment 129 #
2020/2124(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Welcomes the fact that the EIB is the world’s largest issuer of green bonds which have raised € 34,6 billion of Climate Awareness Bonds and Sustainability Awareness Bonds over 12 years; calls on the EIB to continue and to expand the issuance of green bonds to enhance the liquidity of that market and to remain involved in the development of an EU green bond standard;
Amendment 140 #
2020/2124(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Welcomes the fact that in 2019 the EIB supported innovation and skills with €14.4 billion; calls the EIB to enhance its support for innovation and skills;
Amendment 141 #
2020/2124(INI)
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17 b. Recalls that SMEs are the back bone of Europe's economy, representing 99% of all businesses in the EU and employing at around 100 million people Welcomes the fact that in 2019 the EIB provided financing for SMEs and mid- caps with total investment amounting to €25.5 billion, supporting 386 000 companies;
Amendment 146 #
2020/2124(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Notes that the COVID-19 outbreak revealed the fragility of the EU’s supply chains and the insufficiency of IT networks; calls on the EIB to align its investment strategy to help ensure greater resilience of the internal market’s value chains and strengthen the European industrial sector, especially in strategic areas;
Amendment 149 #
2020/2124(INI)
Motion for a resolution
Paragraph 18 b (new)
Paragraph 18 b (new)
18 b. Calls on the EIB to mobilise sufficient support for infrastructure on delivering faster internet speed to all regions in the EU and bridge the existing digital divide;
Amendment 153 #
2020/2124(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Calls on the EIB to continue its support towards advancing digital skills, in particular for employees in sectors of the economy in need adjustment and requalification;
Amendment 154 #
2020/2124(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19 b. Calls on the EIB to enhance its support to innovative European companies through all stages of development, from seed to growth capital, financing the creation of a knowledge economy by combining investment in skills, research, infrastructure and energy efficiency with support for young tech companies;
Amendment 158 #
2020/2124(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20 a. Underlines that the EIB will continue to be the main investment partner for the implementation of the InvestEU programme;
Amendment 159 #
2020/2124(INI)
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20 b. Welcomes the EIB’s commitment to invest in the social sector, thereby fostering well-being, access to education, health and housing, as well as the acquisition of skills required by a modern knowledge-based economy;
Amendment 165 #
2020/2124(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Calls on the EIB to play an active role in helping Member States to deliver on the implementation of the European Pillar of Social Rights, while standing ready to align with the forthcoming Commission action plan and the Social Summit in Porto; points toreiterates the importance of ex-ante and ex- post evaluations of the sustainability, economic, social and environmental impact of projects backed directly or indirectly by the EIB;
Amendment 170 #
2020/2124(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Calls on the EIB to refrain from participating in projects which may weaken citizens’ access to high quality public services;
Amendment 171 #
2020/2124(INI)
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
22 b. Notes that the COVID-19 pandemic has had a huge negative impact on children’s education and well-being across the globe, with millions of children still without access to education due to lockdown measures and therefore at risk of regression and suffering potential lifelong effects; welcomes the EIB’s investment in education, as investing in education helps to eradicate poverty, boost economic growth and improve gender equality; calls on the EIB to increase its investment in education to help mitigate the severe impact of the COVID-19crisis on education systems globally;
Amendment 172 #
2020/2124(INI)
Motion for a resolution
Subheading 6
Subheading 6
Amendment 173 #
2020/2124(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Welcomes the fact that the EIB is the largest multilateral lender in the world that strives to support EU external cooperation and development policies; notes that the EIB has been active outside the EU for over 50 years with €64.8bn loans granted in 106 different countries as of end-2019, of which EUR 7.9bn were signed in 2019;
Amendment 175 #
2020/2124(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Insists that the EIB should apply the same standards and criteria to assess and evaluate projects inside and outside the European Union, including those recently agreed in the CBR ; Considers, in this context, that the EIB should enhance its monitoring and reporting of projects outside the EU and improving its analysis of the economic, social and environmental impacts;
Amendment 176 #
2020/2124(INI)
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23 b. Welcomes the provisional agreement reached between the European Council and the European Parliament on the regulation setting up the Neighbourhood, Development and International Cooperation Instrument; notes in particular the role the EIB will play in the context of the European Fund for Sustainable Investment;
Amendment 183 #
2020/2124(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24 a. Stresses the need for full alignment of EIB investments in third countries with EU external action and sustainable development priorities;
Amendment 192 #
2020/2124(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Proposes the establishment of a protocol for a Memorandum of Cooperation between the EIB and Parliament, applicable with immediate effect, in order to improve interinstitutional dialogue and enhance the EIB’s transparency and accountability, specifying the rights of Parliament and its Members as regards access to documents, data, questions put to the EIB, regular hearings and economic dialogues;
Amendment 221 #
2020/2124(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Welcomes the EIB’s Group Strategy on Gender Equality and Gender Action Plan; takes note of the 2019 Progress Report on Diversity and Inclusion; notes that women represent 51.4% of the EIB workforce; regrets the fact that women are still not sufficiently represented in managerial and senior office positions; believes that more needs to be done in this regard during the implementation of the second phase of the Action Plan in 2021; calls, therefore, on the EIB to further encourage the participation of women and actively promote a balance gender representation in its senior positions;
Amendment 233 #
2020/2124(INI)
Motion for a resolution
Paragraph 29 b (new)
Paragraph 29 b (new)
Amendment 237 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30 a. Calls on the EIB to take advantage of the ongoing review of its overall policy on alignments with counterparties and ensure greater transparency and stricter due diligence over its partners and their eligibility to disburse EIB-backed funds under strict conditionality, comprising ethical, integrity, social and environmental criteria;
Amendment 239 #
2020/2124(INI)
30 b. Reiterates, in this regard, its call on the EIB to only work with counterparties which have decarbonisation plans in place by the end of 2025, without prejudice to the ability of the EIB to offer technical assistance on devising such decarbonisation plans;
Amendment 240 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 c (new)
Paragraph 30 c (new)
30 c. Asks the EIB to provide more regular, in-depth and comprehensive information on the financial intermediaries responsible to redistribute loans in the context of lending operations and include contractual clauses concerning mandatory disclosures from these institutions;
Amendment 241 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 d (new)
Paragraph 30 d (new)
Amendment 242 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 e (new)
Paragraph 30 e (new)
30 e. Calls on the EIB to reinforce contractual clauses enabling it to suspend disbursements in cases of projects' non- compliance with environmental, social, human rights, tax and transparency standards;
Amendment 243 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 f (new)
Paragraph 30 f (new)
30 f. Welcomes that the EIB Anti- Fraud Policy, which is the main framework on preventing and deterring Prohibited Conduct in EIB activities, is currently being revised;
Amendment 244 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 g (new)
Paragraph 30 g (new)
30 g. Calls furthermore for a stringent Exclusion Policy, to provide the Bank with the possibility to go beyond the application of contractual remedies, by excluding entities found engaged in fraud, corruption, money laundering or other forms of wrongdoing from EIB financing;
Amendment 245 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 h (new)
Paragraph 30 h (new)
30 h. Takes note of the December 2020 Anti-Money Laundering and Combating Financing of Terrorism Framework of the EIB; is concerned that the framework outlined is not detailed on specific procedures to align the Bank’s activities with EU law, namely on customer due diligence and in particular when enhanced due diligence takes place;
Amendment 246 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 i (new)
Paragraph 30 i (new)
30 i. Welcomes the adoption of the EIB Group non-cooperation jurisdiction (NCJ) policy in 2019 and subsequent revision of implementing internal procedures; recalls that the policy foresees a general prohibition to enter into operations with contracting counterparties incorporated or established in NCJs, except under strict conditions;
Amendment 247 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 j (new)
Paragraph 30 j (new)
30 j. Welcomes the European Court of Auditors’ work with respect to Union budget funds managed by the EIB and calls on the institutions to agree on enhancing ECA audit rights within the limits of the EU Treaties;
Amendment 6 #
2020/2122(INI)
Motion for a resolution
Citation 40 a (new)
Citation 40 a (new)
— having regard to the European Commission action plan for a comprehensive Union policy on preventing money laundering and terrorism financing of 7 May 202029a, _________________ 29ahttps://ec.europa.eu/info/business- economy-euro/banking-and- finance/financial-supervision-and-risk- management/anti-money-laundering-and- counter-terrorist-financing_en
Amendment 22 #
2020/2122(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas a more stable, competitive and convergent Economic and Monetary Union requires a Banking Union with a European Deposit Insurance Scheme, a Capital Markets Union, a permanent Budgetary Instrument, a revised fiscal framework and more effective cooperation and coordination on tax affairs;
Amendment 23 #
2020/2122(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
A b. whereas the completion of the Banking Union is a vital contributor to the international perception of the euro and its increased role in global markets;
Amendment 41 #
2020/2122(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas more than ten years after the financial crisis, the ‘too big to fail’ and ‘too interconnected to fail’ problems remain insufficiently addressed;
Amendment 56 #
2020/2122(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas the Banking Union still lacks effective tools to tackle problems consumers are facing: artificial complexity, unfair commercial practices, exclusion of vulnerable groups from using basic services as well as limited involvement of public authorities;
Amendment 153 #
2020/2122(INI)
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8 c. Reminds that the European Green Deal shall be a cornerstone of EU policies in the upcoming years; underlines the role of private finance and investments in supporting the climate transition, as established in the Sustainable Europe Investment Plan; welcomes recent and upcoming legislative action that incentivises investments in line with the European Climate Law, including the EU taxonomy climate delegated act and the establishment of a EU green bond standard;
Amendment 157 #
2020/2122(INI)
8 a. Stresses that completing the Economic and Monetary Union requires the completion of the Banking Union with a European Deposit Insurance Scheme, a more developed and safe Capital Markets Union, a permanent budgetary instrument, a revised fiscal framework and more effective cooperation and coordination on tax affairs;
Amendment 158 #
2020/2122(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Underlines the importance of completing the Capital Markets Union, which complements the Banking Union in the financing of the real economy; stresses, furthermore, that a fully integrated Capital Markets Union together with a fully-fledged Banking Union would allow for public and private risk sharing, and would moreover strengthen the international role of the euro as well as further enhancing the competitiveness of European markets and promoting sustainable private investment; highlights, in this regard, the need for a level playing field that avoids disadvantages for SMEs in terms of access to finance, and the need to carefully monitor the issuance of securitised products;
Amendment 195 #
2020/2122(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Regrets the failure to ensure full gender balance in EU financial institutions and bodies; calls on the governments of the Member States, the European Council, the Eurogroup and the Commission to actively work towards gender balance in their upcoming proposals for shortlists and appointments, endeavouring to include at least one female and one male candidate per nomination procedure; reiterates its resolution on respect for the gender balance principle in forthcoming lists of candidates;
Amendment 235 #
2020/2122(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Calls on the ESAs to make full use of their powers to ensure a high degree of consumer protection, including, where appropriate, product intervention powers where financial and credit products have resulted in or are likely to result in consumer detriment;
Amendment 269 #
2020/2122(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Stresses that the EU regulatory framework on prudential treatment of sovereign debt should be consistent with international standards;
Amendment 288 #
2020/2122(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25 a. Recalls that for AML/CFT efforts to be effective, the competent authorities and financial institutions must act in a coordinated manner; highlights that prudential and anti-money laundering supervision need to be better aligned; recalls its serious concerns about regulatory and supervisory fragmentation in the field of AML/CFT, which has led to a failure to provide adequate oversight and responses to the deficiencies of national supervisory authorities and undermines their ability to supervise the increasing cross-border activity in the EU; encourages the partial conversion of the provisions laid down in previous anti- money laundering directives into a regulation, thus targeting loopholes;
Amendment 2 #
2020/2115(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Believes that as Asia is home to the world’s largest population and fastest- growing economies, increasing connectivity between the EU and Asia, with an open, rules-based multilateral trading system that ensures a level playing field, will play a key role in global stability, in regional prosperity and in mutual economic growth and will be an important factor in the recovery from the ongoing COVID-19 pandemic;
Amendment 9 #
2020/2115(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Regrets that manyseveral countries in Asia still apply protectionist economic policies creating an unfair playing field for European businesses; notes that allowing free trade flows will build economic resilience and ensure the global availability of products through the diversification of supply chains; calls for a due diligence framework that protects valuable economic assets, secures access to markets and materials, preserves human, social and environmental rights; stresses the need to enhance cooperation regarding intellectual property provisions and geographical indications;
Amendment 17 #
2020/2115(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Believes that efficient connections and networks between Europe and Asia through priority transport corridors, including air, sea and land transport, and high-capacity network linkof digital, energy and people-to-people tools will increase trade flows and data transfers between the EU and Asia; acknowledges the existence of an investment gap in connectivity and recognises the need to mobilise and strengthen cooperation with private investors, national and international institutions, and multilateral development banks;
Amendment 38 #
2020/2115(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls on the Commission to ensure the enforcement of trade agreements and make existing ones more ambitious, in particular by promoting sustainable EU norms and standards, in line with the Paris Agreement and the UN Sustainable Goals, and by introducing the enforceability of TSD chapters including via last resort sanctions-based mechanism.
Amendment 7 #
2020/2088(INI)
Motion for a resolution
Citation 14 a (new)
Citation 14 a (new)
- having regard to its resolution of 13 February 2019 on the state of the debate on the future of Europe,
Amendment 8 #
2020/2088(INI)
Motion for a resolution
Citation 16 a (new)
Citation 16 a (new)
- having regard to its decision of 18 June 2020 on setting up a special committee on foreign interference in all democratic processes in the European Union, including disinformation, and defining its responsibilities, numerical strength and term of office;
Amendment 16 #
2020/2088(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the 2019 European elections registered the highest turnout of the any elections to the European Parliament in the last 20 years, with 50.2 %, ( an increase of eight percentage points compared to 2014), sending a positive signal that European citizens believe that many of their concerns can be addressed at EU level; whereas the 2019 turnout still remains low and more needs to be done to increase participation in EU elections;
Amendment 18 #
2020/2088(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas results of the Eurobarometer survey commissioned by the European Parliament after the European elections shows that the state of the economy and the environment were the two main priorities for voters which clearly indicates that citizens who take part in European elections wish to have more action at the European level in these two policy fields of shared competence between the EU and the national level;
Amendment 21 #
2020/2088(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas the relentless engagement of civil society played a crucial role for a pro-European discourse ahead of the European elections;
Amendment 23 #
2020/2088(INI)
Motion for a resolution
Recital C
Recital C
Amendment 38 #
2020/2088(INI)
Motion for a resolution
Recital E
Recital E
E. whereas gender equality among Members of the European Parliament has improved (41 % women in 2019, up from 37 % in 2014); whereas Ursula von der Leyen is the first female President of the European Commission and her Commission has historically the largest share of female Commissioners, with 12 women Commissioners;
Amendment 47 #
2020/2088(INI)
Motion for a resolution
Recital F
Recital F
F. whereas 15 Member States still restrict voting rights for people with disabilities, thus preventing the meaningful participation and representation of these citizens in democratic processes; whereas, due to national rules, an estimated 800 000 EU citizens were not able to exercise their right to vote in the last European elections because of their disabilities or mental health problems;1a _________________ 1aEuropean Economic and Social Committee's information report of 20 March 2019 on 'The real right of persons with disabilities to vote in European Parliament elections'
Amendment 65 #
2020/2088(INI)
Motion for a resolution
Recital I
Recital I
I. whereas the outcome of the 2019 European elections fragmented political representation in Parliament, leading to increased complexity in the decision- making processhas led to the emergence of a new parliamentary majority composed of different political groups with a clear pro-European identity;
Amendment 68 #
2020/2088(INI)
Motion for a resolution
Recital J
Recital J
J. whereas the 2019 elections failed to culminate in the choice of a Commission President from among the various Spitzenkandidaten, resulting in a backward step from the process which was established in 2014whereas the election of the Commission President depends on securing the support of the majority of Members of the European Parliament;
Amendment 77 #
2020/2088(INI)
K. whereas the Spitzenkandidaten process has yet to be fully developed; whereas it lacks, among other things, the possibility for Spitzenkandidaten to stand as official candidates in all Member States on transnational lists, allowing all European voters to choose and vote for their preferred Spitzenkandidconsolidated, in line with the provisions of the Lisbon Treaty; whereas Parliament raised this issue in its decision of 7 February 2018 on the revision of the Framework Agreement on relations between the European Parliament and the European Commission15 ; _________________ 15 Texts adopted, P8_TA(2018)0030.
Amendment 87 #
2020/2088(INI)
Motion for a resolution
Recital M
Recital M
M. whereas institutional improvements such as transnational lists, as acknowledged by Parliament in its resolution of 7 February 2018 on the composition of the European Parliament, or the transformation of the Council into a second legislative chamber of the Union, as proposed in its resolution of 16 February 2017 on possible evolutions of and adjustments to the current institutional set-up of the European Union, would radically transform the European elections into one true European election, as opposed to the collection of 27 separate national elections that it is todayhe possible creation of transnational lists should be discussed in the Conference on the Future of Europe;
Amendment 100 #
2020/2088(INI)
Motion for a resolution
Recital N
Recital N
N. whereas the intensified political exchanges in Parliament have also highlighted the shortcomings of several standing procedures such as the hearings of Commissioners-designate, with particular regard to the conditprocess of examination of the declarations of interests and the hearings of the designated European Commissioners by the European Parliament was an important step in increasing the Commission’s for the legal assessaccountability to the European Parliament ofand their applications (e.g. declarations of financial interests) public in general; whereas this process can and should be further improved in the future;
Amendment 107 #
2020/2088(INI)
Motion for a resolution
Recital P
Recital P
P. whereas the Commission’s requests to social media platforms ahead of the elections created confusion and had unintended consequences such as the ban on Europe-wide political advertisements, which is the only way foran important instrument that European political parties use to advertise during European election campaigns; whereas especially on that matter, the institutions should develop an interinstitutional approach in order to have a positive impact on the security and stability of the electoral process;
Amendment 120 #
2020/2088(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note ofWelcomes the higher turnout in the 2019 European elections, which demonstrates that the trend of decreasing voter turnout in Europe can be reversed; recognizes the important role of campaigns led by the EU institutions and civil society organisations to increase the turnout, such as the ‘This Time I’m Voting’ campaign; considers that this higher turnout shows that an increasing proportion of citizens consider the EU to be the appropriate level at which to address the challenges of our time such as climate change and environmental concerns, social and gender inequalities, sustainable growth, and geopolitical concerns such as migration and foreign policy; underlines that the state of the economy and the environment were the two main priorities for voters clearly indicating that citizens who take part in European elections wish to have more action at the European level in these two policy fields of shared competence between the EU and the national level; urges all the European institutions, therefore, to take responsibility and to act upon the mandate they have been given, directly or indirectly, by the citizens; regrets both the lack of decisiveness by the Council and the lack of clear intent to achieve solutions based on a common approach;
Amendment 138 #
2020/2088(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
Amendment 144 #
2020/2088(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that similar recommendations could be made concerning the exercise of passive and active voting rights of citizens with disabilities; recalls with great concern that in several Member States an estimated 800 000 citizens with disabilities were not able to vote in 2019 because of unsuitable electoral material or infrastructure at polling stations; calls on Member States to guarantee that all those who have the right to vote, including EU citizens living outside their country of origin and prisoners who are granted such a right in accordance with national laws, are able to exercise this right;
Amendment 146 #
2020/2088(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Acknowledges the good organization of the electoral process in the 2019 European elections despite of the uncertainty resulting from the departure of the UK from the EU; Highlights, in this context, the smooth recomposition of the European Parliament after Brexit due to the safeguard clause foreseen in its resolution of 7 February 2018 on the Composition of the European Parliament;
Amendment 156 #
2020/2088(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Is of the opinion that the reason why the Spitzenkandidaten process failed to produce a President ofNotes that the Spitzenkandidaten process is an important tool to organize the Eeuropean Commission after the 2019 elections is because no improvements were made to it following the experience of 2014; intends to strengthen the democratic process for choosing the Commission President before the next European elections of 2024political debate during the electoral campaign; Believes that further improvements and clarifications are needed to strengthen the democratic process for choosing the Commission President before the next European elections of 2024; Notes, however, that the election of the Commission President always depends on securing the support of the majority of Members of the European Parliament so that the electoral results are fully taken into account, as foreseen in the Lisbon Treaty;
Amendment 175 #
2020/2088(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Stresses that the election of the Commission President depends on a majority of Parliament’s members, which de facto requires the formation of a coalition; recommends that the election procedure be reverprocess of selection and election of the President of the European Commission should be consolidated, in line with the Lisbon Treaty’s provisions and based son thate Parliament proposes and elects the’s requests to appoint as President of the Commission, after obtaining the consent of the European Council candidate that can be backed by a majority of Parliament’s members, which de facto requires the formation of a programmatic agreement;
Amendment 185 #
2020/2088(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Considers that the outcome of the European elections has reinforced the political dimension of the election of the European Commission, and therefore the need for more accurate and objective scrutiny of the declarations of interests of the Commissioners-designate; calls for the creation of an independent body, endowed with the appropriate means, to have this scrutiny included in its responsibilities;
Amendment 189 #
2020/2088(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 200 #
2020/2088(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 210 #
2020/2088(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Believes that granting European voters a second vote for transnational lists in a joint European constituency, drawn up by European political parties and movements, would elevate the European elections above purely national campaigns based on national interests, particularly if such lists were headed by the respective Spitzenkandidatenthe possible cration of transnational lists should be discussed in the Conference on the Future of Europe;
Amendment 222 #
2020/2088(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Acknowledges that despite the fact that the agreed reform of the Electoral Law has not yet been ratified by some Member States, further improvements are required, such as provisions for remote voting operationsalternative voting methods, including in defined or exceptional circumstances, in order to incentivise voter turnout, as well as on the elections in the joint European constituency;
Amendment 233 #
2020/2088(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. TExpresses deep concern about the fact that evidence of interferences and disinformation campaigns is continuously coming to light, often with indications of foreign influence, in the run-up to the 2019 European elections; takes note of the efforts by the Commission and other institutions to tackle foreign interference during the electoral campaign; points out, nevertheless, that the financial and human resources needed to counter these attacks on European democracy, including at national level, are many times superior to the combined designated European resources; urges the Commission and the Member States to raise significantly the financing they make available for the fight against foreign interference;
Amendment 242 #
2020/2088(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Urges the Commission and the Council to consider, in accordance with the work of Parliament’s Special Committee on Foreign interference and Disinformation, the urgent creation of a European organisation dedicated to the fight against foreign interference; encourages the Commission and the Council to work much more closely with Parliament on these matters, as the protection of our democratic institutions is a core competence of the European Parliamenttake all necessary measures to combat foreign interference effectively, and to implement the recommendations made by the European Parliament's special committee on foreign interference in all democratic processes in the European Union, including disinformation, as soon as its conclusions are delivered and before the next European elections;
Amendment 246 #
2020/2088(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Recognises the important role of European political parties and foundations in fostering a European political debate; points out, however, that owing to restrictive measures at European and national levels, European political parties cannot fully participate in European election campaigns; stresses, moreover, that they are not allowed to campaign in referendums that concern European matters, including international trade agreements or the UK’s 2016 referendum on EU membership; calls for a further alignment of national and EU level legislation in order to level the playing field across the EU for the European elections; proposes that the visibility of European political parties be enhanced by placing their names and logos on the ballot papers, and recommends that the same should also appear on all materials used in European election campaigns;
Amendment 259 #
2020/2088(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Considers that the outcome of the European elections is a clear signal for an in-depth institutional reflection that will allow citizens, civil society and their representatives to shape the future of the Union; underlines that the outbreak of Covid-19 increased the urgency of an institutional reform process on the European level; calls, therefore, on all institutional partners to assume their responsibility and deliver an ambitious framework for the Conference on the Future of Europe, and to follow up on its conclusions in order to achieve significant and tangible changes in the policies and institutional architecture of the EU; considers that following the Covid-19 crisis the Conference on the Future of Europe will represent an opportunity for a deep reflection on the European recovery, notably on the need to readdress the European socio-economic model towards solidarity and cohesion;
Amendment 19 #
2020/2078(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the shock is symmetrical but the impact varies considerably among Member States, reflecting the severity of the pandemic and the stringency of their containment measures, but also their specific economic exposures and initial conditions, including the vulnerability of particular sectors and their available scope for discretionary fiscal policy responses; Due to their strong interdependencies, an incomplete recovery in one country would spill over to all the other countries and dampen economic growth everywhere;
Amendment 28 #
2020/2078(INI)
Motion for a resolution
Recital C
Recital C
C. whereas a determined, coordinated and solidarity-based European response is essential to mitigate the negative economic and social consequences of the crisis, the fragmentation of the internal market and the further deepening of macroeconomic divergence and structural polarisation between regions and countries;
Amendment 29 #
2020/2078(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas most of the effects are likely to be temporary and the national and European policies in place to support incomes, jobs, liquidity and investment are effective, economic activity will rebound once restrictions are gradually eased; whereas, nevertheless, lasting negative consequences can be expected, such as continued subdued demand, market and income uncertainties, investment shortfalls and drops in employment, which reduce the productive potential of the economy and harm a return to the former trajectory of production and growth;
Amendment 40 #
2020/2078(INI)
Motion for a resolution
Recital C b (new)
Recital C b (new)
Cb. whereas the Commission estimates total government financing needs at € 5.4trn over 2020 and 2021. This includes pre-crisis financing needs of € 3.7trn and additional financing needs due to the impact of the COVID-19 crisis of € 1.7trn for EU Member States over 2020 and 2021;1a _________________ 1a Commission Staff Working Document: Identifying Europe's recovery needs https://ec.europa.eu/info/sites/info/files/ec onomy- finance/assessment_of_economic_and_in vestment_needs.pdf
Amendment 43 #
2020/2078(INI)
Motion for a resolution
Recital C c (new)
Recital C c (new)
Cc. whereas the COVID 19 crisis is affecting vulnerable groups in particular, resulting in increased inequalities, poverty, unemployment and social divergences, as well as undermining social and employment standards in Europe;
Amendment 47 #
2020/2078(INI)
Motion for a resolution
Recital C d (new)
Recital C d (new)
Cd. whereas women are disproportionately hit as a result of the crisis;
Amendment 48 #
2020/2078(INI)
Motion for a resolution
Recital C e (new)
Recital C e (new)
Ce. whereas the EU and its Member States have committed to the treaty-based values, implementation of the UN 2030 Agenda, the European Pillar of Social Rights and the Paris Climate Agreement;
Amendment 49 #
2020/2078(INI)
Motion for a resolution
Recital C f (new)
Recital C f (new)
Cf. whereas the disruption is affecting the European economy as a whole, and whereas an equal debt issuance capacity and access to funding must be ensured in order to deal with the crisis, including for Member States not in the euro area;
Amendment 52 #
2020/2078(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes with great concern that, according to the Commission’s Springummer 2020 economic forecast, the EU is expected to suffer the deepest recession in its history in 2020contracting by 8.3% in 2020, which is significantly greater than the 7.4% initially projected in the Spring Forecast; Notes also that growth forecast in 2021 will be slightly less robust than projected in the Spring;
Amendment 62 #
2020/2078(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Is concerned at the negative impact of the COVID-19 crisis on the global economy, trade, income inequalities and poverty; , with a projected contraction of the global GDP (excluding the EU) by about 3% this year, which is a sharper downturn than during the Global Financial Crisis in 2008-2009, a fall of world import volumes by more than 10% and a fall of euro area exports by about 13% in 2020; Is alarmed about the increase in poverty since many emerging and low-income countries have limited capacity to deal with a health crisis of this magnitude as well as limited policy space to absorb the macroeconomic impact, in particularly in face of subdued prospects for commodity prices and tightened financial conditions; 1b _________________ 1b European Economic Forecast Spring 2020 https://ec.europa.eu/info/sites/info/files/ec onomy-finance/ip125_en.pdf
Amendment 71 #
2020/2078(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Points out that the Commission’s estimate of the investment needs of the EU for delivering the green transition and digital transformation amounts to at least EUR 595 billion per year8 27 in 2020 and 2021 will amount to €1,5trn in addition to the baseline assumed in the spring forecast, and for delivering the green transition and digital transformation to at least €595bn per year8; including additional investment needs of €20bn per year to make the strategic investments for EU autonomy to strengthen the resilience of industries and the EU’s strategic autonomy for most- needed goods and services (medical products and pharmaceuticals, strategic digital infrastructure, key enabling technologies, critical raw materials, defence and space); _________________ 8 Commission Staff Working Document -: Identifying Europe's recovery needs, p. 16: https://ec.europa.eu/info/sites/info/files/eco nomy- finance/assessment_of_economic_and_inv estment_needs.pdf
Amendment 78 #
2020/2078(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
Amendment 90 #
2020/2078(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Welcomes the swift and strong response to the crisis in the area of monetary and fiscal policy, at both EU and Member State level, with the ECB’s Pandemic Emergency Purchase Programme (PEPP), the activation of the European Stability Mechanism (ESM) and the launch of the EIB’s pan- European Guarantee Fund ensuring liquidity and stabilization of financial markets, the activation of the ‘general escape clause' by the European Commission, allowing the maximum flexibility to the fiscal framework and the adopted temporary state aid rules to allow national governments to financially support healthcare systems and businesses and the imminent European Support Scheme Mitigating Unemployment Risks in Emergency (SURE) to keep people in employment during the crisis;
Amendment 93 #
2020/2078(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
Amendment 96 #
2020/2078(INI)
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4c. Welcomes in principle the Commission’s proposal of a new Recovery and Resilience Facility to support Member States through non-repayable financial support and loans to implement investments and reforms that are essential for a sustainable recovery based on priorities identified in the framework of the European Semester of economic policy coordination, including the principles of the European Pillar of Social Rights, and in regard to contribute to the 2030 climate goal and to the digital agenda; (Article subject to adjustment due to the state of negotiations)
Amendment 103 #
2020/2078(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the swift and strong response to the crisis in the area of monetary and fiscal policy, at both EU and Member State level, as well as the European Recovery Plan; cConsiders it essential that the recovery package is fully aligned with the EU’s new growth strategy, i.e. in accordance with the principles of the European Green Deal (EGD), the European Pillar of Social Rights (EPSR) and the United Nations Sustainable Development Goals (SDGs), and with the aim to protect women’s rights and achieve gender equality and that puts the well-being of citizens and sustainability in the center of our action; Moreover, the recovery fund should provide additional support to the Sustainable Europe Investment Plan (SEIP) to boost the EU’s economies towards a sustainable and inclusive economy that would enable the essential transition to a climate-neutral economy; demands that funds and resources be directed to projects and beneficiaries that comply with our Treaty-based fundamental values, including the rule of law, and that recipient firms protect their workers, pay their fair share of taxes, and refrain from paying out dividends or offering share buy- back schemes aimed at remunerating shareholders;
Amendment 119 #
2020/2078(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the activation of the general escape clause of the Stability and Growth Pact, and expects that it willcalls to remain activated ats least until the end of 2021ong as needed in order to support the efforts of the Member States to recover from the pandemic crisis and strengthen their economic and social resilience; Highlights, in this regards, that the expected recovery in 2021 will only be partial entailing the need to extend discretionary fiscal support measures; Shares the view of the European Fiscal Board that rapidly reversing the fiscal stance is not favourable and that a larger and longer support including a strong component of government spending is needed, also in 2021, to sustain demand;
Amendment 144 #
2020/2078(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the conclusion of the European Fiscal Board (EFB)9 that the fiscal framework has to be revised, and i due to its unnecessary complexity, pro- cyclicality, overreliance on unobservable variables and the fact that it has not protected the quality of public expenditure nor promoted public investment during the period of growth the last seven years before the crisis; Is convinced that the deep economic crisis triggered by the pandemic further exacerbates this need; believes that the review and reform have to meet the above requirements in terms of increasing investment relating to climate change and digitalisation and stabilising the new level of investment, while ensuring sound budgetary management; _________________ 9EFBuropean Fiscal Board Annual rReport 2019, p. 71 - https://ec.europa.eu/info/sites/infos/files/20 19-efb-annual-report_en.pdf
Amendment 167 #
2020/2078(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Considers it essential that the revision of the EU’s fiscal and economic policy framework should be completed by the time the escape clause is repealed and should provide tailor-made solutions to respond to the different needs of the Member States. Calls for rules that enable fiscal policy to respond with discretion to shocks in the short term, and to reduce high public debt ratios to an agreed reference value in the long term, while allowing a sufficient level of public investment, progressive tax policies and stable government revenues, the repayment of loans in a cycle- comfortable manner, and the long-term modernisation of public commodities;
Amendment 187 #
2020/2078(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Proposes a combination of expenditure rules for public non- investment expenditure and a golden rule for public investment and investments in services of public interest, which is central to both; wishes to see a rapid recovery from the COVID-19 crisis and a transition to a cleaner, socially sustainable and more digital society; Highlights in this respect the European Fiscal Board's analysis that a government investment rule is needed to protect growth-enhancing government expenditure for the EU’s policy priorities and that low interest rates offer a unique opportunity for governments to invest in the future; 1f _________________ 1fEFB Report 2020: Assessment of the fiscal stance appropriate for the euro area https://ec.europa.eu/info/sites/info/files/20 20_06_25_efb_assessment_of_euro_area_ fiscal_stance_en.pdf
Amendment 213 #
2020/2078(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Welcomes the refocus of the European Semester Spring Package aimed at providing an immediate economic policy response to tackle and mitigate the health and socio-economic impact of COVID-19 and reboot economic activity; supports the Commission’s announcement of a reform of the European Semester to convert it into a tool to coordinate the recovery measures, framed by the principles of the EGD, the EPSR and the SDGs; is convinced that this has to include the coordination of measures concerning state aid and tax policies; underlines the need for the integration of a new set of binding sustainability and wellbeing indicators and alternative measurements of growth performance, as they offer an integrated framework encompassing public health, social, environmental and economic concerns; is convinced that this has to include the coordination of measures concerning state aid and tax policies;
Amendment 217 #
2020/2078(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Underlines the need for the integration of a new set of binding sustainability and wellbeing indicators and alternative measurements of growth performance and calls for a new Sustainable Development Cycle, as one comprehensive surveillance procedure to address the EU’s economic, social and sustainability objectives under one governance framework, and to ensure a coherent approach to the EU’s long-term recovery and resilience strategy;
Amendment 232 #
2020/2078(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Welcomes the European Green Deal as our new growth strategy bringing together four dimensions: environment, productivity, stability and fairness, and where competitive sustainability is at the heart of Europe’s social market economy, enabled by digital and green technologies, an innovative industrial base and strategic autonomy, to make Europe a transformational frontrunner;
Amendment 243 #
2020/2078(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Recalls, in this context, its resolution of 26 February 2019 and the urgent need to strengthen and enforce the democratic accountability of the ESM by establishing a protocol for an interim Memorandum of Cooperation between the ESM and the European Parliament to improve interinstitutional dialogue and enhance the ESM’s transparency and accountability;
Amendment 246 #
2020/2078(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Calls for an institutionalised economic and social dialogue with social partners and relevant stakeholders to strengthen democratic accountability, transparency and the scrutiny role of civil society;
Amendment 254 #
2020/2078(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Invites the Commission to explore new policies suggested by international institutions that support and contribute to financing a just transition and sustainable growth, as well as aiming to restore Member States’ public finances; calls for the new basket of resources to include income stemming from EU policies favouring both the implementation of environmental protection and the preservation of a fair single market; urges in this context, Members States to agree on including the auction revenues of the Emission Trading Scheme, a contribution on non-recycled plastic packaging and a 3% rate to the share of taxable profits of each Member State, based on the Common Consolidate Corporate Tax Base; calls for the additional inclusion of revenues emanating from the future Carbon Border Adjustment Mechanism, from a single market levy on very large multinationals, which benefit the most from the possibilities offered by the Single Market, from a fairer taxation of digital companies that are being less affected by lockdown measures as well as revenues generated by a Financial Transaction Tax;
Amendment 270 #
2020/2078(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Recalls the urgent need to complete and reinforce the EMU architecture with a view to protecting citizens and reducing pressure on public finances during external shocks so as to overcome social and economic imbalances, by creating, inter alia, a fiscal capacity for public investment, a macroeconomic stabilisation and cohesion function for the euro area, the completion of the Banking Union and a European unemployment benefit reinsurance scheme; Insists on the principle of the community method to enhance the democratic and social dimension of the EMU;
Amendment 276 #
2020/2078(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Fully supports the European Fiscal Boards call for a permanent fiscal capacity as natural complement to a EU framework, empowered to borrow meaningful amounts of funds on the market, and which focusses on the protection of growth-enhancing government expenditure and allowing to respond to severe shocks in a timely fashion; Stresses that such a capacity has to be accountable to the European Parliament and based on strategic orientations defined under co-decision within a governance framework with the aim to bring value added for its citizens and the EU as a whole, e.g. through investments in the green, digital and social infrastructures;
Amendment 24 #
2020/2075(INI)
A. whereas over the past 30 years the economic governance framework has undergone a number of changes to resolve its design and implementation flaws and adapt it to new economic challenges;
Amendment 25 #
2020/2075(INI)
Motion for a resolution
Recital B (new)
Recital B (new)
B. whereas in the aftermath of the Global Financial Crisis, the successive reforms of the EMU focused on risk reduction but failed to introduce risk- sharing elements;
Amendment 26 #
2020/2075(INI)
Motion for a resolution
Recital C (new)
Recital C (new)
C. whereas in 2015 the European Commission (EC) adopted guidance on the best use of the flexibility in the rules of the SGP strengthening the link between structural reforms, investment and fiscal responsibility;
Amendment 27 #
2020/2075(INI)
Motion for a resolution
Recital D (new)
Recital D (new)
D. whereas the current governance framework presents conceptual and practical weaknesses that lead to rules overly complex, weak enforcement, lack of ownership and of incentives to pursue symmetrical counter-cyclical policies and it did not succeed to reduce divergences between in the EU nor to protect or stimulate growth enhancing public investment;
Amendment 28 #
2020/2075(INI)
Motion for a resolution
Recital E (new)
Recital E (new)
E. whereas gross public investment was severely cut following the financial and sovereign debt crisis, and in many Member States net public investment is even negative implying that the current fiscal framework leads to too recessive consolidation measures and facilitates the decline of public investment during the periods of fiscal consolidation;
Amendment 29 #
2020/2075(INI)
Motion for a resolution
Recital F (new)
Recital F (new)
F. whereas there are significant investment funding gaps that should be addressed: €470 billion a year until 2030 to meet EU environmental objectives 20a; €142billion a year for social infrastructure such as hospitals or schools 21a ; along with €190 billion a year to stabilise the stock of public capital 22a; _________________ 20aEuropean Commission, “SWD(2020) 98 final - Identifying Europe’s recovery needs”, 27.5.2020, p.14-16. 21aThis estimation only cover health and long-term care (EUR 70 billion), education and life-long learnings (EUR 15 billion) and affordable housing (EUR 57 billion). Source: FRANSEN, L., BUFALO, G., REVIGLIO, E., “Boosting Investment in Social Infrastructure in Europe - Report of the High-Level Task Force on Financing Social Infrastructure in Europe”, 2018, 116p. 22aEuropean Commission, “SWD(2020) 98 final - Identifying Europe’s recovery needs”, 27.5.2020, p. 18-20
Amendment 30 #
2020/2075(INI)
G. whereas in 2020, the European Commission started a public consultation on the review of effectiveness of economic governance framework which was disrupted by the onset of the COVID-19 pandemic;
Amendment 31 #
2020/2075(INI)
Motion for a resolution
Recital H (new)
Recital H (new)
H. whereas the pandemic is causing an unprecedented exogenous shock with large asymmetric impacts, weighting negatively on the EU economic outlook and enlarging divergences between Member States;
Amendment 32 #
2020/2075(INI)
Motion for a resolution
Recital I (new)
Recital I (new)
I. whereas the pandemic has amplified pre-existing inequalities and poverty and has demonstrated the importance of European social model and its existing social safety nets;
Amendment 33 #
2020/2075(INI)
Motion for a resolution
Recital J (new)
Recital J (new)
J. whereas, in Europe, economic forecasts 23a 24a show a multispeed, incomplete and uneven recovery; whereas the vaccine rollout is accelerating but remain slow, and there are considerable risks of divergences and aggravated inequalities across countries and sectors as well as prospects for scarring; _________________ 23aEuropean Commission Winter 2021 Economic Forecasts show a contraction in 2020 of - 6,3 % of GDP in the EU and with - 6,8 % of GDP in the euro area and GDP growth is expected to recover only slowly in the short-term with 3.7% in 2021 and 3.9% in 2022 in the EU, and3.8% in both years in the euro area. 24aWorld Economic Outlook: Managing Divergent Recoveries, IMF (April 2021)
Amendment 34 #
2020/2075(INI)
Motion for a resolution
Recital K (new)
Recital K (new)
K. whereas the discretionary fiscal support differed in size and composition across Member States with a clear positive correlation between fiscal space and the size of policy response leading to an asymmetric response, creating risks of an unequal level playing field in the internal market and further differentiate the speed of recovery;
Amendment 35 #
2020/2075(INI)
Motion for a resolution
Recital L (new)
Recital L (new)
L. whereas public debt levels at the beginning of the pandemic were high, the unprecedented economic recession, the unprecedented national fiscal measures taken in response to the pandemic and the need to support a sustainable and inclusive recovery will impact public finances pushing EU debt-to-GDP to a new peak above 100% of GDP;
Amendment 36 #
2020/2075(INI)
Motion for a resolution
Recital M (new)
Recital M (new)
M. whereas environmental 25a and social sustainability are interconnected with long-term fiscal sustainability; _________________ 25aExtreme disaster tend to lower economic output (Botzen, Deschenes and Sanders, 2019); IMF forecasts that major weather-related disasters could have a negative impact in real GDP per capita and countries that are better equipped to address major natural disasters could more easily cushion the impact.
Amendment 37 #
2020/2075(INI)
Motion for a resolution
Recital N (new)
Recital N (new)
N. whereas the crisis response of the EU 26a has strengthened the EMU and, so far, succeeded to create trust and confidence, tame financial markets volatility; underlines for this effect the importance of the issuance of EU bonds; _________________ 26a Through in particular the Recovery Package and the SURE instrument.
Amendment 98 #
2020/2075(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Supports policies that are tailored to the stage of the pandemic, the path to the economic recovery and to countries´ individual circumstances;
Amendment 103 #
2020/2075(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls on the Member States to embed the high-quality fiscal support in credible medium-term frameworks, to ensure where expansionary fiscal measures are needed, these are supported by growth and inclusive measures bearing in mind that emergency measures are temporary, limited and targeted; calls on the Member States to monitor fiscal risks, namely contingent liabilities, as appropriate for instance guarantee programmes, as appropriate; notes that such good public financial management practices would improve transparency and accountability;
Amendment 108 #
2020/2075(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Points out that for as long as differences in the pace of recovery are economically significant, fiscal policy should limit the scarring and reduce inequalities by supporting those segments of the economy and society that are at a higher risk of divergence; notes that income inequalities are likely to increase notably within young workers, women and low-skilled workers;
Amendment 111 #
2020/2075(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Welcomes the policy response of governments aimed at avoiding a sharp increase in corporate insolvencies and unemployment; warns that an abrupt and uncoordinated withdrawal of support measures could lead to financial distress and recommends that more general support is replaced gradually by more targeted schemes including solvency measures; further recommends fiscal measures to facilitate job creation and reallocation namely through retraining and reskilling programmes, together with income support as needed;
Amendment 120 #
2020/2075(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Reiterates the IMF call to consider a temporary COVID-19 recovery contribution levied on high incomes or wealth as well as the need to implement domestic and international tax reforms;
Amendment 121 #
2020/2075(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Recalls the importance of the swift, responsible and efficient implementation of the Recovery and Resilience Facility to address the EU´s long term challenges by focusing on building a resilient, inclusive and greener economy, by supporting the recovery and by boosting productivity and investment;
Amendment 122 #
2020/2075(INI)
Motion for a resolution
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Highlights that monetary policy has been carrying the main burden of stabilisation in the past years and crisis; notes that the crisis caused by the pandemic showed that monetary policy is not enough for stabilisation purposes and fiscal policy should play an increasing role;
Amendment 138 #
2020/2075(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses the importance of complementarity between monetary and fiscal policies to deliver the required support post-COVID-19, the former by preserving favourable financing conditions and the latter by supporting firms, workers and people; considers that the low interest rate environment has implications for fiscal policy; warns against a premature tightening of monetary and fiscal policy;
Amendment 148 #
2020/2075(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Underlines that structural factors are likely to keep rates low in the long term; considers that macroeconomic policies should address the factors underlying secular stagnationsuch as ageing, global savings, low inflation and productivity slowdown are likely to keep rates low in the long term and the impact of Covid-19 shocks is likely to accelerate this tendency as precautionary savings are rising further and investment decisions might be delayed; considers that macroeconomic policies should address the factors underlying secular stagnation through high-quality fiscal expansion with durable repercussions on the private-sector savings-investment balance complemented with growth-enhancing reforms;
Amendment 154 #
2020/2075(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls for an appropriate fiscal and monetary policy mix that works together towards achieving the EU’s objectives; considers a credible fiscal framework a necessary requirement for a strong and mutually supporting coordination of fiscal and monetary policies, to avoid that pro- cyclical policies will counteract the stimulus of the recovery programme and in order to ensure improved and transparent governance;
Amendment 180 #
2020/2075(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that debt service costs are expected to remain low for the foreseeable future thanks to a large share of debt burden covered by long maturities and sometimes negative yielding bonds, and primary deficits are likely to be offset by favourable interest-growth differentials; further considers that as long as the differentials are negative it is possiblewill ensure the ability to sustain and progressively reduce high debt levels;
Amendment 190 #
2020/2075(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Stresses that, following the impact of the Covid-19 crisis on the public debt levels, the new fiscal framework must establish a slower pace for debt reduction, thus allowing Member States to build sustainable public finances without implementing austerity measures;
Amendment 200 #
2020/2075(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recalls the importance of growth- enhancing policies and public investment aimed at increasing sustainable growth potential and achieving the EU’s objectives; reiterates that future-oriented investment and expenditure has positive spill overs in the medium-to-long-term debt sustainability;
Amendment 207 #
2020/2075(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Stresses the importance of pursuing a broad and transparent DSA in orderebt Sustainability Analysis (DSA) in order to support policymakers´ decision to set an appropriate country-specific path, using innovative tools and techniques such as stress tests and stochastic analysis to better reflect risks to public debt dynamics; (such as interest-growth differentials, debt composition, demographics and climate change) and the quality of public expenditure;
Amendment 240 #
2020/2075(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for the renewed fiscal framework to promote sustainability and cyclical stabilisation and to improve the quality of public expenditure through sustainable investments and reforms; calls for well-defined, transparent, simple, flexible and enforceable rules embedded in a credible and democratic framework that takes into account the specificities of Member States, including the different economic structures and geographical constraints, and promote upward economic and social convergence;
Amendment 272 #
2020/2075(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that the country-specific path would not be subject to applying any strict formula and the outcome should result from a discussion between each Member State and the Commission, after a consultation with the EFB in the context of the European Semester; considers that the expenditure rule should also include a correction mechanism to remove cyclical items as interest payments and cyclical unemployment benefits;
Amendment 279 #
2020/2075(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Underlines that expenditure rules allow for automatic stabilisers to operate and are under the direct control of the government; argues that while potential output growth is unobservable and has to be estimated, it is less likely to be subject to revisions than the output gap; notes that expenditure rules show to be more effective in reducing the procyclicality bias of fiscal policy 28a; _________________ 28aManescu, C., Bova, E. (2021), Effectiveness of national expenditure rules: Evidence from EU member states.
Amendment 301 #
2020/2075(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Shares the EFB’s opinion that sustainable growth-enhancing public investments should be exempt from the expenditure rule, in particular those investments that are aligned with the EU’s long-term objectives of the NGEU; calls for a revamped fiscal framework that promotes the increase and stabilisation of growth-enhancing public investment related namely to social resilience, climate change and digitalisation;
Amendment 307 #
2020/2075(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Reminds that meeting the objectives of the European Green Deal will require targeted and sustained fiscal effort over several decades; recalls that failing to meet these objectives would heighten significant sustainability-related fiscal risks;
Amendment 308 #
2020/2075(INI)
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
22b. Stresses the importance that public investment costs are distributed over the entire service-life, similarly to the way corporate investment is treated in corporate accounting;
Amendment 321 #
2020/2075(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Underlines that a renewed EU fiscal framework should provide fiscal space and internalize the effects of national discretionary fiscal policies while safeguarding sound public finances; stresses that coordination of the fiscal stance is of particular importance for the euro area and calls for the appropriate fiscal tools to properly coordinate national fiscal policies mitigating possible imbalances;
Amendment 332 #
2020/2075(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Highlights that, in addition to the review of the fiscal framework, further efforts should be taken to improve and complete the Economic and Monetary Union, including the completion of the banking union with a fully-fledged European Deposit Insurance Scheme, an effective capital markets union, a permanent budgetary instrument for the Euro Area, and a more effective cooperation and coordination on tax affairs, notably regarding harmful tax practices and tax competition;
Amendment 352 #
2020/2075(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Stresses the importance of the MIP in identifying and taking preventive and corrective actions against emerging imbalances; points out, however, that the potential of this mechanism has not been fully exploited on account of its structural weaknesses notably the asymmetry of the indicators in the Alert Mechanism, indicators lacking a clear prioritization and the lack of clear accountability;
Amendment 369 #
2020/2075(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Calls for the MIP to be reformed to make its indicators and recommendations more forward-looking and symmetrical with regard to over- and undershooting target values, and to focus on indicators under the control of policymakers and geared towards reducing intra-euro area imbalances and driving the economic cycle of the eurozone from a consolidated point of view; considers that greater compliance with pared-back recommendations must be achieved and MIP-relevant country-specific recommendations should focus on policy actions that can have a direct impact on imbalances;
Amendment 377 #
2020/2075(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Considers that clarity and consistency concerning the interplay between the MIP and the Stability and Growth Pact is key to ensuring that their objectives are achieved; the recommendations to Member States within the MIP framework could be contradictory in some cases with the fiscal policy guidelines based on the application of the Stability and Growth Pact; therefore, it is necessary to improve clarity and consistency concerning the interplay between the MIP and the Stability and Growth Pact and to provide the EU with additional instruments to guarantee a correct aggregate fiscal stance according to the cyclical needs of the eurozone economy as a whole;
Amendment 394 #
2020/2075(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Calls for a renewed European Semester as the main economic and social policy coordination framework supporting the EU’s long-standing goals of sustainability and upward convergence with stronger national ownership; calls for a more balanced institutional role of the European Parliament in the European Semester to ensure a more rigorous democratic scrutiny ; demands for the European Parliament’s full involvement in defining the overarching goals and the guidance;, in particular the ones related to the euro area; stresses the importance of a stronger balance in policy coordination between employment and social affairs ministers and finance ministers namely in the euro area.
Amendment 408 #
2020/2075(INI)
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30a. Underlines the importance to clarify the link between each specific governance tool and the objectives to be achieved; calls for better reflecting the existing scoreboards in policy recommendations;
Amendment 409 #
2020/2075(INI)
Motion for a resolution
Paragraph 30 b (new)
Paragraph 30 b (new)
30b. Points towards the lack of ownership as one the main weaknesses of the European Semester; notes that the design of this framework must respect a set of long-term objectives and guidance at EU level, reflected in national plans, policy recommendations on a variety of policy objectives which should allow for policy choices properly reflecting national needs and priorities underpinned by an open and inclusive policy dialogue between the EU and national institutions and stakeholders;
Amendment 418 #
2020/2075(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Calls for more involvement of national macro prudential authorities and national productivity councils in the MIP process;
Amendment 419 #
2020/2075(INI)
Motion for a resolution
Paragraph 32 a (new)
Paragraph 32 a (new)
32a. Underlines the importance of ensuring a proper balance of responsibilities between the different institutions in the implementation of the EU fiscal framework; calls for a higher involvement of the European Parliament when discussing medium to long-term budgetary guidelines; in order to ensure greater transparency and accountability, it should be enhanced the involvement of the national parliaments;
Amendment 420 #
2020/2075(INI)
Motion for a resolution
Paragraph 32 b (new)
Paragraph 32 b (new)
32b. Welcomes the significant improvements of the role of Independent Financial Institutions (IFIs) in the budgetary process for enhancing transparency and accountability of fiscal policy through both monitoring and independent analysis; notes that IFIs should incorporate in their work the medium to long-term challenges to the fiscal frameworks; underlines the importance to ensure accountability of these institutions towards the European and national parliaments, as appropriate;
Amendment 435 #
2020/2075(INI)
Motion for a resolution
Paragraph 34 a (new)
Paragraph 34 a (new)
34a. Calls on the Commission to further reflect on the design and implementation of Macroeconomic Adjustment Programmes; is firmly convinced that the way macroeconomic adjustment programmes were implemented had serious consequences on the social fabric of the countries, led to permanent losses of output, raised serious doubt of external political interference and presented a lack of national ownership;
Amendment 436 #
2020/2075(INI)
Motion for a resolution
Paragraph 34 b (new)
Paragraph 34 b (new)
34b. Calls on the Commission to assess the effectiveness and the added value of post-programme surveillance in those euro area Member States that are no longer subject to a macroeconomic adjustment programme; notes that Member States exiting a macroeconomic adjustment programme are also under enhance surveillance in the European Semester and, where relevant, in-depth reviews can be conducted; considers that this double surveillance does not bring any additional benefits for the process of multilateral surveillance;
Amendment 48 #
2020/2058(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Sustainable Europe Investment Plan (SEIP) as central in ensuring the success of the Green Deal and the transition towards a more sustainable and resilient economy; considers that the investment envisaged in the SEIP will deliver necessary economic stimulus, build resilience to future shocks and create jobs;
Amendment 68 #
2020/2058(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the Commission’s European Recovery Plan with the European Green Deal at its heart; endorses the underlying principle that public investments will respect the oath to ‘do no harm’; stresses that the recovery shall be built on the Sustainable Development Goals and shall support the twin green and digital transitions; emphasises that national recovery and resilience plans should put the EU on the path to a 50 % to 55 % reduction in greenhouse gas emissions by 2030 compared to 1990 and climate neutrality by 2050;
Amendment 140 #
2020/2058(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Wishes to see it ensured that funding from the SEIP, at EU and national level, goes towards the policies and programmes with the highest potential to contribute to the fight against climate change, protect environment and preserve biodiversity, and looks forward to the Commission’s upcoming climate tracking methodology using appropriately the criteria established by the EU taxonomy;
Amendment 188 #
2020/2058(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses the central role of the EU budget in delivering the SEIP; reiterates its long-standing position that new initiatives should always be financed through additional appropriations and should not negatively affect other policies; welcomes the new European Union Recovery Instrument, "Next Generation EU", as an emergency instrument to support investments and reforms aligned with the Sustainable Development Goals and to reinforce the EU programmes that contribute for a sustainable and resilience recovery of the EU economy;
Amendment 227 #
2020/2058(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Welcomes the proposal to top up the Just Transition Fund (JTF), including with additional funds from Next Generation EU, and the two additional pillars of the Just Transition Mechanism, namely a dedicated scheme under InvestEU and a public sector loan facility, which will contribute to alleviating the economic effects of the transition to climate neutrality on the most vulnerable regions in the EU; supports a strengthened European Agricultural Fund (EAFRD) to help farmers and rural areas to deliver the green transition, ensure a sustainable management of natural resources and preserve biodiversity;
Amendment 240 #
2020/2058(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Underlines that the aim of the JTF should be to provide support to citizens, economic activities and territories facing energy sustainability, energy security and energy affordability challenges in the transition process towards a just and sustainable, climate-neutral, climate- resilient, resource-efficient economy of the Union by 2050; Stresses that in order to minimize the negative socio-economic consequences of the transition, we need to ensure that the investments and actions previously made by Member States to reduce greenhouse emission are duly acknowledged and recognised as part of the path towards a climate-neutral economy; consequently, the JTF should also provide tailored support to regions that are in a more advanced phase of its transition, ensuring energy affordability for its citizens and economic activities, leading the way to a socially fair and just green transition;
Amendment 258 #
2020/2058(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Welcomes the role of InvestEU in the implementation and functioning of the SEIP and considers that it should be at the heart of the Union’s green, fair and resilient recovery; welcomes, therefore, the Commission’s proposal to increase the programme’s size and scope; stresses the importance to support sustainable infrastructure projects, including the renovation wave for local jobs; welcomes the proposal to create a Strategic Investment Facility within InvestEU to promote sustainable investments in key technologies (such as clean hydrogen and batteries) and value chains;
Amendment 333 #
2020/2058(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the efforts of the European Investment Bank (EIB) to revise its energy lending policy and to devote 50 % of its operations to climate action and environmental sustainability; calls on the EIB to commit to the sustainable transition towards climate neutrality while taking into account the different energy mixes of Member States and devoting particular attention to the sectors and regions most affected by the transition; calls on the EIB to review and modify its climate action definitions, namely the environmental sustainability financing definitions, in line with the EU taxonomy;
Amendment 374 #
2020/2058(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Recalls the statement of the ECB President that the ECB is supporting the development of a taxonomy as a way of facilitating the incorporation of environmental considerations in central bank portfolios; emphasizes that environmental and climate disasters more and more poses financial stability risks and, therefore, prudential regulation and supervision shall better incorporate those long-term risks in their assessments; calls on the ECB to evaluate the feasibility of including sustainability criteria in its collateral framework and its annual stress testing exercise, while assessing ways to guide lending towards energy transition investments and to rebuild a sustainable economy in the aftermath of the COVID- 19 crisis;
Amendment 393 #
2020/2058(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Supports a renewed sustainable finance strategy; underlines the need for an EU eco-label for financial products, for an EU Green Bond Standard (EU GBS), and for more reliable, comparable and accessible sustainability data obtained by harmonising sustainability indicators and creating a public sustainability data register; recalls the genuine importance of green finance to the international role of the euro in the next decade.
Amendment 451 #
2020/2058(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Calls for the introduction of an enabling framework for public sustainable investments to achieve the goals set out in the European Green Deal, but stresses that whatever financing model is chosen must not undermine the sustainability of public finance in the EU; believes that the review of the EU's Economic governance framework should look at ways of incentivising Member States to undertake reforms and investments to tackle environmental challenges while preserving debt sustainability; calls on Member States to be more active in applying principles of green budgeting as a way to deliver on the objectives of the European Green Deal while improving the quality of public finances; supports the commitment by EVP Dombrovskis to explore how taxonomy can be used in the public sector; calls for public support for airlines to be used in a sustainable and efficient manner;
Amendment 499 #
2020/2058(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Notes that recovery and resilience plans will be based on shared EU priorities; calls for green recovery investments under the Recovery and Resilience Facility in order to accelerate the structural transformation of the economy towards a more clean, resilient and carbon-neutral economy; highlights in this context the European Green Deal and the European Pillar of Social Rights; seeks the inclusion of priorities in areas such as employment, skills, education, digital, research and innovation and health, but also in areas related to the business environment, including public administration and the financial sector;
Amendment 520 #
2020/2058(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Supports the Solvency Support Instrument to level the playing field in the single market, and the introduction of ‘green transition plans’ for certain companies to increase the sustainability of their activities; considers that society can ask for a quid pro quo when providing support to companies; believes that green transition plans should be obligatory for companies seeking state aid or EU-level support unless it is clear that they do not engage in environmentally or socially harmful activities; urges the Commission to only approve green transition plans that set businesses on the path to the climate- neutral and circular economy without significantly harming any other environmental or social objectives;
Amendment 540 #
2020/2058(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Invites the Commission to revise the Energy Tax Directive and coordinate a kerosene tax that could also feed into the EU budget;
Amendment 1 #
2020/2041(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Highlights that, while there are a number of dynamic middle income countries on the African continent, its economic development is still relatively weak in comparison to other partsStrongly supports the renewed engagement between the EU and Africa; welcomes the publication of the Communication ofn the world; stresses that many of its countries will therefore face almost insurmountable challenges caused by the COVID-19 crisis and the effects of climate changeupcoming strategy; highlights the importance of a dynamic partnership to pursue common Goals between the two continents;
Amendment 9 #
2020/2041(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Highlights the importance of ecologically and socially sustainable trade relations with the African continent; calls on the Commission to proceed with its legislative proposal on mandatory human rights and environmental due diligence obligations for EU companies;
Amendment 11 #
2020/2041(INI)
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Highlights that, while there are a number of dynamic middle income countries on the African continent, its economic development is still relatively weak in comparison to other parts of the world; stresses that many of its countries will therefore face almost insurmountable challenges caused by the COVID-19 crisis and the effects of climate change, amongst them huge demographic shifts with poverty- and conflict-driven migration as well as other problems; highlights in this context that in the short run, the EU must provide immediate aid measures such as procuring tests and laboratory equipment, followed by pandemic prevention measures through the development of an infrastructure of laboratories, financing of medical training measures, information campaigns and national pandemic response plans; underlines that the economic impact of the lockdown will be profound on the African continent, given the size of the informal sector; stresses that the long term goal of the partnership between the EU and Africa must be the resilience of African economies as well as economic independence from aid and indebtedness, to which the increasing resilience of the health sector should be a side effect;
Amendment 17 #
2020/2041(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes the announcement from the G20 on a temporary moratorium on debt repayments for the weakest developing countries; reiterates that debt reductions and debt cancellations are not mentioned in the current version of the Africa strategy while they are important palliatives in the COVID-19 crisis and a necessary measure beyond the pandemic since they will contribute to the policy space of African countries that is currently taken up by repaying debt;
Amendment 26 #
2020/2041(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Highlights that the European Union still has important economic ties with African states, and that China has intensified its economic engagement in Africa, while the EU Member States have shown only very selective interests for trade with- and investments in the African states, which is why the trade volume between the EU and most African states remains relatively small; underlines that the EU needs an entirely new foundation for its economic partnership with Africa, meaning that it needs to take the final step away from a dependency-based relationship and arrive in the new reality in which the EU and Africa need to develop a mutually beneficial sustainable partnership; underlines that the prerequisite of this partnership is the substantial further sustainable development in all African states;
Amendment 37 #
2020/2041(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Underlines that the role of many African states in the international division of labour does not promote their sustainable development as long as it means that they export raw materials and some unprocessed agricultural commodities, while the EU exports manufactured goods, services and agricultural overcapacities; underlines that the EU must support the diversification of inner-African value chains by means of public investment in improved infrastructures and the development of a sustainable energy- supply; calls on the Commission to facilitate through the channels at its disposal the development of regional value chains as inner-regional trade on the African continent remains marginal and is a prerequisite for sustainable development and long term economic independence;
Amendment 46 #
2020/2041(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls on the Commission to reform its current version of its strategy entitledadapt its priorities set out in the Communication ‘Towards a comprehensive Strategy with Africa’ ahead of the planned EU-AU Summit with a view to addressing the needs of the African regions in the wake of this health and economic crisis; but also with regard to the danger of upcoming threats to food security; notes that the common plan for economic recovery needs to remain in accordance with the Sustainable Development Goals and the Paris Agreement;
Amendment 77 #
2020/2041(INI)
8. Calls for a concrete proposal that establishes common initiatives on a renewable energy supply on the African continent; and the promotion of innovation geared towards it, including both a concrete plan to publicly finance those initiatives and a plan on how to get into closer cooperation with regard to the future common usage of the resulting renewable energy; reiterates that sustainable development without comprehensive access to energy is not possible and encourages the Commission to come up with an ambitious plan for implementing this sustainable energy partnership;
Amendment 82 #
2020/2041(INI)
Draft opinion
Paragraph 9
Paragraph 9
9. Emphasises the need for substantial sustainable investments that enable leapfrogging in the African states; possibly in the form of investment partnerships with regard to infrastructure, a sustainable agricultural sector as well as comprehensive energy supply from renewable sources; underlines the necessity of sustainable innovation projects that enable leapfrogging with the specific goal of ecological and social sustainability in the African states underlines that the EU needs to pursue public investments in the development of general infrastructures and specifically cross-border infrastructures in order to facilitate regional trade and thereby the diversification of value chains; highlights that the promotion of foreign direct investment amongst other programs by the External Investment Plan should be linked to local entrepreneurship, SMEs, smallholder agriculture, the local services sector, the local manufacturing industry as well as sustainable innovation projects in order to facilitate the diversification of value chains on the continent as well as for the sake of the creation of decent employment opportunities;
Amendment 90 #
2020/2041(INI)
Draft opinion
Paragraph 10
Paragraph 10
10. Underlines that empowering civil society, and thereby including a social counterpart into investment structures, is a vital aspect of EU policies towards and with the African states., therefore asks the Commission to involve civil society at all levels of the political dialogue, especially when trade agreements are prepared, monitored and evaluated; calls for a bigger role for civil society in the Aid for Trade system;
Amendment 96 #
2020/2041(INI)
Draft opinion
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Recognizes the critical role of women and girls in sustainable growth and development; emphasizes that the empowerment of women and girls must be mainstreamed throughout the implementation of the Africa strategy; underlines that the economic independence of women must be fostered by the promotion of female entrepreneurs;
Amendment 100 #
2020/2041(INI)
Draft opinion
Paragraph 10 b (new)
Paragraph 10 b (new)
10 b. Underlines that the African continent has the youngest population in the world and thus asks the Commission to firmly integrate the interests of children and young people in the implementation plan for the Africa strategy and to make sure that substantial investments are made in building the expertise of young people given their critical role in further developing strategies for an ecologically, socially and economically sustainable future of their continent;
Amendment 1 #
2020/2023(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Recalls its resolutions of 15 January 2020 on implementing and monitoring the provisions on citizens’ rights in the Withdrawal Agreement1 and of 12 February 2020 on the proposed mandate for negotiations for a new partnership with the United Kingdom of Great Britain and Northern Ireland2 ; takes note of the fact that the negotiations on the future relationship are still at a very early stage, and underlines the major impact of the coronavirus crisis on this process and its timetable; invites the UK to prioritise the coordination with the EU of the measures needed to respond to the COVID 19 crisis; _________________ 1 Texts adopted, P9_TA(2020)0006. 2 Texts adopted, P9_TA(2020)0033.
Amendment 23 #
2020/2023(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Believes it to be in both Parties’ mutual interests to establish an ambitious future economic partnership covering a wide number of sectors; underlines that, in any case, a level playing field must be ensured and EU standards safeguarded in order to avoid a ‘race to the bottom’ and the acquisition of unfair competitive advantages through the undercutting of levels of protection or other regulatory divergences; considers that any future framework should safeguard fair competition, investor and consumer protection, and the integrity of the single market, while respecting the EU’s regulatory regime and decision-making autonomy; underlines the importance of maintaining close and structured cooperation on regulatory and supervisory matters, at both political and technical levels;
Amendment 26 #
2020/2023(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Believes that the future partnership must ensure the high level of environmental, labour and social protection and shall not undermine future initiatives to increase such level of protection; supports, in this context, the clause of non-regression of the level of climate protection and encourages both Parties to increase measures and cooperate regards to sustainable production and consumption, promoting circular economy and green and social inclusive growth; welcomes the proposal to establish an independent body to monitor and enforce climate related measures as well as the Parties commitment to the objective of achieving an economy-wide climate neutrality by 2050 and the alignment of policies to the objectives of the UN SDGs and the Paris Agreement; calls for a regular policy dialogue to monitor the implementation of the Paris Agreement and the UNSDGs;
Amendment 40 #
2020/2023(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Considers that the UK should be allowed to participate in the relevant research, study, training and youth exchanges as well as in other appropriate EU programmes, agencies and funds provided that a fair contribution is ensured;
Amendment 45 #
2020/2023(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Recalls, in the context of financial services, that passporting rights, which are based on mutual recognition and harmonised prudential rules in the internal market, will cease to apply between the EU and the UK at the end of the transitional period; underlines that, thereafter, access to the European financial market must be based on equivalence decisions made within the EU’s legal framework; recalls that EU legislation already provides for the possibility, in some areas, to consider third-country rules as equivalent based on a proportional and risk-based approach; notes, in this regard, that an assessment of the equivalence of UK’s financial regulation will be made by the EU and notes that the European Commission is the institution responsible to guarantee such equivalence is maintained over time; recalls that the EU can withdraw unilaterally the status of equivalent at any moment;
Amendment 58 #
2020/2023(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Calls on the Parties to reach a strong commitment to ensure good tax governance following international and current European standards, notably on exchange of tax information and fair taxation as well as including OECD standards against Base Erosion and Profit Shifting; calls the Parties to prioritise a coordinated fight against tax evasion and tax avoidance; demands Parties to also address harmful tax practices by pursuing cooperation under the Code of Conduct for business taxation; demands the Parties to guarantee full administrative cooperation to ensure compliance with VAT legislation as well as the protection and recovery of VAT revenues;
Amendment 60 #
2020/2023(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Welcomes the commitment from the UK to maintain the implementation of the Directive on Administrative Cooperation DAC 6, Council Directive (EU) 2018/822 of 25 May 2018 as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements; calls on the Parties to ensure the provisions included in the different directives providing for mandatory automatic exchange of information in the field of taxation (DAC, DAC 2, DAC 3, DAC 4, DAC 5) on income, financial accounts, tax rulings, country-by-country reports, beneficial ownership remainin place; recommends that Parties set up a dedicated platform on maintaining Administrative cooperation for ensuring the continuation of information exchange and coordination of future proposals for information exchange, such as for online platforms;
Amendment 61 #
2020/2023(INI)
Draft opinion
Paragraph 6 c (new)
Paragraph 6 c (new)
6 c. Invites the Parties to ensure their respective tax policies support delivering the Paris Agreement objectives and invites the Parties to cooperate in the framework of a future EU Carbon Border Adjustment (CBA) Mechanism, notably to avoid any form of double taxation while delivering on the environmental objectives of an EU CBA;
Amendment 73 #
2020/2023(INI)
Draft opinion
Paragraph 6 d (new)
Paragraph 6 d (new)
6 d. Reiterates the importance of ensuring a framework for swift cooperation between the EU and the UK, in preventing, detecting and punishing money laundering and the financing of terrorism; calls on the Parties to include provisions on AML/CFT policy in the future partnership agreement; recalls that the EU and the UK committed on the Political Declaration to go beyond the Financial Action Task Force standards on AML/CFT with regard to beneficial ownership transparency and ending the anonymity associated with the use of virtual currencies, including through customer due diligence controls; suggests the UK to continue to apply the EU regulation in the field of anti-money laundering, which, in some respects, sets higher standards of protection and more transparency than the current international standards;
Amendment 273 #
2020/0104(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) In order to implement these overall objectives, relevant actions will be identified during the Facility’s preparation and implementation, and reassessed in the context of the relevant evaluations and review processes. Also, due attention should be paid to the impact of the national plans submitted under this Regulation on fostering not only the green transition, but also the digital transformation and the response to the demographic challenges. They will both play a priority role in relaunching and modernising our economy.
Amendment 285 #
2020/0104(COD)
Proposal for a regulation
Recital 13
Recital 13
Amendment 308 #
2020/0104(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) The Facility’s general objective should be the promotion of economic, social and territorial cohesion. For that purpose, it should contribute to improving the resilience and adjustment capacity of the Member States, mitigating the social and economic impact of the crisis, and supporting the green and digital transitions aimed at achieving a climate neutral Europe by 2050, thereby restoring the growth potential of the economies of the Union in the aftermath of the crisis, fostering employment creation and to promoting sustainable growth. Restoring growth potential will be also pursued through measures to address the difficult demographic situation of different Member States, that hampers long-term growth, due to shrinking workforce.
Amendment 433 #
2020/0104(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) The Commission should assess the recovery and resilience plan proposed by the Member States and should act in close cooperation with the Member State concerned. The Commission will fully respect the national ownership of the process and will therefore take into account the justification and elements provided by the Member State concerned and assess whether the recovery and resilience plan proposed by the Member State is expected to contribute to effectively address challenges identified in the relevant country-specific recommendation addressed to the Member State concerned or in other relevant documents officially adopted by the Commission in the European Semester; whether the plan contains measures that effectively contribute to the green and the digital transitions and to addressing the challenges resulting from them; whether the plan is expected to have a lasting impact in the Member State concerned; whether the plan is expected to effectively contribute to strengthen the growth potential, job creation and economic and social resilience of the Member State, mitigate the economic and social impact of the crisis and contribute to enhancing economic, social and territorial cohesion; whether the plan contains measures that effectively contribute to address the demographic challenges; whether the justification provided by the Member State of the estimated total costs of the recovery and resilience plan submitted is reasonable and plausible and is commensurate to the expected impact on the economy and employment; whether the proposed recovery and resilience plan contains measures for the implementation of reforms and public investment projects that represent coherent actions; and whether the arrangement proposed by the Member State concerned are expected to ensure effective implementation of the recovery and resilience plan, including the proposed milestones and targets, and the related indicators.
Amendment 1169 #
2020/0104(COD)
Proposal for a regulation
Article 16 – paragraph 3 – point d
Article 16 – paragraph 3 – point d
(d) whether the recovery and resilience plan is expected to effectively contribute to strengthen the growth potential, job creation, and economic and social resilience of the Member State, mitigate the economic and social, social and demographic impact of the crisis, and contribute to enhance economic, social and territorial cohesion;
Amendment 6 #
2019/2132(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Notes the 10% decrease of new infringement procedures open in 2018 compared to 2017; regrets, however, the increase in the number of new infringement procedures in 2019; welcomes the consecutive decrease in new late transposition cases both in 2017, 2018 and 2019; regrets that, despite recent progress, timely and correct application of EU law remain a matter of concern in a number of Member States;
Amendment 9 #
2019/2132(INI)
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Notes that according to the breakdown of the new infringement cases open at the end of 2017, 2018 and 2019, the main policies areas in which the higher number of transposition infringement were opened against Member States were environment, mobility and transport, internal market, financial stability, financial services and capital markets;
Amendment 11 #
2019/2132(INI)
Draft opinion
Paragraph 1 c (new)
Paragraph 1 c (new)
1 c. Notes that the Commission no longer uses the EU Pilot as the default mechanism to engage in dialogue with Member States on alleged breach of EU Law; recalls that resolution rates of EU pilots was at the level of 77% in 2017 and 2019 and at the level of73% in 2018;
Amendment 35 #
2019/2132(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Calls on the Commission and Member States to pursue and intensify dialogue and exchange of best practices in order to tackle the lack of clarity and transparency in rule-making;
Amendment 36 #
2019/2132(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
Amendment 42 #
2019/2132(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Acknowledges and recalls the role of the European Court of Justice as the sole institution in charge of ruling on the validity of Acts of the EU institutions, thus ensuring the correct interpretation and application of EU Law;
Amendment 48 #
2019/2130(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas the European banking sector still remains largely the main provider of financing to companies, in contrast with other jurisdictions, where capital markets account for a considerable share of financing to companies;
Amendment 59 #
2019/2130(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Notes that the full implementation of the Banking Union is necessary to deliver more financing to the economy – both to households and companies, specially SMEs –, promoting investment and job creation;
Amendment 72 #
2019/2130(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the support of the [incoming] President of the European Commission and the President of the ECB for the completion of the Banking Union and, more globally, the Economic and Monetary Union, through the creation of a fiscal capacity designed to provide the euro area with an adequate stabilisation function;
Amendment 75 #
2019/2130(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Stresses the importance of the agreement reached at the Eurogroup establishing a budgetary instrument for the euro-area with the goals of convergence and competitiveness - the Budgetary Instrument for Convergence and Competitiveness (BICC); however, underlines that this instrument is not designed to provide macroeconomic stabilisation and the expected resources are not sufficient to do so;
Amendment 76 #
2019/2130(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Takes the view that the development of new budgetary tools aimed at stabilisation and convergence in the euro area would be extremely important for the economic governance of the Eurozone;
Amendment 99 #
2019/2130(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Underlines the crucial role of the banking sector in channelling funding into sustainable investments and enabling the transition to a climate-neutral economy; calls further on all European banks to sign up the UN-led Principles for Responsible Banking and report annually on their efforts to sustainable financing and to reducing climate change-related risks in their balance sheets;
Amendment 105 #
2019/2130(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Underlines the importance of protecting consumer rights, namely regarding banking fees, the transparency of products costs, profitability and risks; calls, in this respect, on the European Banking Authority to devote more focus in fulfilling its mandate on properly collecting, analysing and reporting on consumer trends, and also on the review and coordination of financial literacy and education initiatives by the competent authorities;
Amendment 107 #
2019/2130(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Notes the relevance of non- financial institutions in the financial stability of the euro area by diversifying the sources of financing provided to the real economy; notably in long-term investment products to support the transition to a climate-neutral economy;
Amendment 120 #
2019/2130(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Restates the importance of a safe asset in the euro area as a way to help stabilise financial markets and, allow banks to reduce the exposure of their balance sheets to national sovereign debt and strengthen the international role of the euro; calls on the Commission to submit a legislative proposal for the creation of a true European safe asset;
Amendment 138 #
2019/2130(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Highlights the urgent need for a fully-fledged capital markets union, also to promote sustainable private investment;
Amendment 151 #
2019/2130(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that the ratio of non- performing loans (NPLs) held by significant institutions has fallen by more than half from the start of ECB banking supervision, in November 2014, to June 2019; underlines the need to protect customers’ rights in the context of NPL transactions and calls on Member States to put measures in place to ensure that borrowers, who might be in already vulnerable financial situations, are not subject to aggressive and unfair treatment and practices by poorly-regulated debt buyers and collectors;
Amendment 161 #
2019/2130(INI)
Motion for a resolution
Paragraph 9 b (new)
Paragraph 9 b (new)
9 b. Welcomes the efforts made to strengthen the financial sector and reduce NPLs at European level; recalls the importance of efficient regulation of the banking and financial sectors to forestall any new crises;
Amendment 162 #
2019/2130(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Underlines that significant progress has been achieved on the side of risk reduction; recalls also that the European Parliament has made substantial contributions to enable this, in particular, on the so-called Banking package and the Non-Performing Loans prudential backstop;
Amendment 187 #
2019/2130(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes that innovative financial technologies are profoundly transforming the financial sector, including banking and payment services; highlights the need to address the challenges posed by these new technologies, such as ensuring sustainable business models, a level playing field in terms of regulation and supervision, and cybersecurity; underlines the financial institutions’ responsibility in ensuring clients’ data protection and security in accordance with EU law;
Amendment 201 #
2019/2130(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the agreement on the exchange of information between the ECB and the AML/CFT supervisors; recalls its serious concern about regulatory and supervisory fragmentation in the AML/CFT area, which is ill-suited to supervise the increasing cross-border activity in the EU; welcomes, in this regard, the Council Conclusions of 5 December 2019, which give a mandate to the Commission to explore ways of ensuring better cooperation between authorities and conferring AML tasks to a Union body, and to turn certain parts of the Anti-money Laundering Directive into a Regulation, to ensure a single rulebook; calls on the Commission to start working on the overhaul of the EU AML framework and legislation to effectively address the risks posed by cross-border illegal activity to the integrity of the EU financial system and the security of EU citizens;
Amendment 246 #
2019/2130(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Urges the operationalisation of the backstop to the SRFTakes note of the Eurogroup decision on the ‘agreement in principle’ related to the ESM reform; urges the operationalisation of the backstop to the SRF; recalls, in this context, the importance of anticipating the introduction of the backstop by 2020;
Amendment 275 #
2019/2130(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Urges the completion of the Banking Union through the creation of a fully mutualised EDIS, to protect depositors against banking disruptions and to ensure confidence among depositors and investors across the Banking Union; welcomes the support of the [incoming] President of the Commission and the President of the ECB for the establishment of EDIS;
Amendment 15 #
2019/0142M(NLE)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes and acknowledges the fact that, while it remains unclear whether any compensation has been foreseen,the fact that other WTO members that exporting beef to the EU, such as Australia, Uruguay and Argentina, agreed to support this agreement by accepting that the vast majority of the quota would beis allocated to the US, and acknowledges that, according to the European Commission, no compensation has been provided to them;
Amendment 1 #
2018/2119(INI)
Motion for a resolution
Citation 4 a (new)
Citation 4 a (new)
- having regard to the report of the Reflection Group on the Future of the EU 2030 to the European Council,
Amendment 2 #
2018/2119(INI)
Motion for a resolution
Citation 4 b (new)
Citation 4 b (new)
- having regard to its resolution of 7 May 2009 on the impact of the Lisbon Treaty on the development of the institutional balance of the European Union,
Amendment 3 #
2018/2119(INI)
Motion for a resolution
Citation 4 c (new)
Citation 4 c (new)
- having regard to its resolution of 20 December 2016 on possible evolutions and adjustments to the current institutional set-up of the European Union,
Amendment 4 #
2018/2119(INI)
Motion for a resolution
Citation 4 d (new)
Citation 4 d (new)
- having regard to its resolution of 16 February 2017 on Improving the functioning of the European union building on the potential of the Lisbon Treaty,
Amendment 5 #
2018/2119(INI)
Motion for a resolution
Citation 4 e (new)
Citation 4 e (new)
- having regard to its resolution of 30 May 2018 on the 2021-2027 multiannual financial framework and own resources,
Amendment 6 #
2018/2119(INI)
Motion for a resolution
Citation 17 a (new)
Citation 17 a (new)
- having regard to the Five Presidents’ Report of 22 June 2015 on completing Europe’s Economic and Monetary Union, to the Commission white paper of 1 March 2017 on the future of Europe, and to the Commission reflection paper of 31 May 2017 on the deepening of the Economic and Monetary Union,
Amendment 9 #
2018/2119(INI)
Motion for a resolution
Citation 17 b (new)
Citation 17 b (new)
- having regard to the Eurogroup report to Leaders on EMU deepening of 4 December 2018,
Amendment 10 #
2018/2119(INI)
Motion for a resolution
Citation 17 c (new)
Citation 17 c (new)
- having regard to the statement of the Euro Summit of 14 December 2018,
Amendment 11 #
2018/2119(INI)
Motion for a resolution
Citation 18 c (new)
Citation 18 c (new)
- having regard to its resolution of 12 June 2013 on strengthening European democracy in the future EMU,
Amendment 12 #
2018/2119(INI)
- having regard to its resolution of 16 February2017 on budgetary capacity for the euro area,
Amendment 13 #
2018/2119(INI)
Motion for a resolution
Citation 20 a (new)
Citation 20 a (new)
- having regard to the opinion of the Committee of the Regions of 6 July 2018 on the Reform proposals for the Economic and Monetary Union,
Amendment 14 #
2018/2119(INI)
Motion for a resolution
Citation 20 b (new)
Citation 20 b (new)
- having regard to the resolution of the Committee of the Regions of 10 October 2018 on the on the economic policies for the euro area and in view of the 2019 Annual Growth Survey,
Amendment 27 #
2018/2119(INI)
Motion for a resolution
Recital B
Recital B
B. whereas economic growth remainis vulnerable toand is not benefitting all citizens and countinuedries in the same manner and remains vulnerable to geopolitical tensions, which have an impact on global trade, and persisting uncertainties surrounding the Union’s future relations with the UKBrexit;
Amendment 32 #
2018/2119(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas real GDP growth is projected by the European Commission to moderate to 1.9% in 2019 and to ease to 1.7% in 2020, in the euro area;
Amendment 33 #
2018/2119(INI)
Motion for a resolution
Recital B b (new)
Recital B b (new)
Bb. whereas no euro area Member State is forecast to have a deficit above the 3% of GDP threshold in 2019 and the aggregate euro area headline deficit is expected to have fallen to 0.6% of GDP in 2018, slighting rising to 0.8% of GDP in 2019,
Amendment 35 #
2018/2119(INI)
Motion for a resolution
Recital B c (new)
Recital B c (new)
Bc. whereas euro area debt-to-GDP ratio is expected to continue its declining trend of recent years and to fall from around 87% in 2018 to around 85% in 2019,
Amendment 36 #
2018/2119(INI)
Motion for a resolution
Recital B d (new)
Recital B d (new)
Bd. whereas the completion of the EMU must be seen as a decisive step towards the stabilization of the Euro Area and promotion of upward socioeconomic convergence and cohesion among Member States,
Amendment 37 #
2018/2119(INI)
Motion for a resolution
Recital B e (new)
Recital B e (new)
Be. whereas the Banking Union remains incomplete without a European Deposit Insurance Scheme (EDIS) and a common fiscal backstop,
Amendment 38 #
2018/2119(INI)
Motion for a resolution
Recital B f (new)
Recital B f (new)
Bf. whereas Europe still faces an investment gap, even though it has benefitted from exceptionally low interest rates for years and financing conditions remain favourable,
Amendment 39 #
2018/2119(INI)
Motion for a resolution
Recital B g (new)
Recital B g (new)
Bg. whereas the European Semester should also contribute to drive the EU and its Member States towards the UN SDGs for 2030 and the compliance with the Paris Agreement goals;
Amendment 40 #
2018/2119(INI)
Motion for a resolution
Recital B h (new)
Recital B h (new)
Bh. whereas employment rate in the EU is growing, although unevenly across the EU, noting that long-term unemployment and youth unemployment remain high in a number of Member States,
Amendment 41 #
2018/2119(INI)
Motion for a resolution
Recital B i (new)
Recital B i (new)
Bi. whereas the scale of in-work poverty is high and rising in several Member States and the risk of poverty or social exclusion was hitting 113 million people in 2017
Amendment 56 #
2018/2119(INI)
Motion for a resolution
Recital E
Recital E
Amendment 73 #
2018/2119(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
Amendment 78 #
2018/2119(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
Amendment 84 #
2018/2119(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 93 #
2018/2119(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Welcomes the Commission’s Annual Growth Survey 2019, which reaffirms the importance of: 1) high quality investments and targeted strategic infrastructure, research and innovation, human capital, education, training and skills, working and living conditions and social cohesion, circular economy and environmental sustainability; 2) reforms that increase productivity growth, inclusiveness and institutional quality; and 3) macro-financial stability and sound public finances including through the completion of the EMU and the Banking Union;
Amendment 99 #
2018/2119(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Fully supports the Commission’s view that EU and its Member States need decisive and concerted policy action to deliver on the promise of inclusive and sustainable growth,
Amendment 100 #
2018/2119(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Takes the view that the European Semester should embrace a long-term approach consistent with the UN SDGs and the multiannual financial framework; recalls in this context the Commission’s commitment to integrate the implementation of the SDGs within the European Semester,
Amendment 102 #
2018/2119(INI)
Motion for a resolution
Subheading 1
Subheading 1
Amendment 103 #
2018/2119(INI)
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4c. Stresses that public and private investment, together with domestic demand and exports, are key factors to support growth and promote convergence at European level; points out that this is even more so in the context of the current economic slowdown and raising external risks and challenges;
Amendment 104 #
2018/2119(INI)
Motion for a resolution
Paragraph 4 d (new)
Paragraph 4 d (new)
4d. Notes that public investment still remains well below pre-crisis levels and that further efforts are needed to close the investment gap, despite the positive results of the Investment Plan for Europe,
Amendment 105 #
2018/2119(INI)
Motion for a resolution
Paragraph 4 e (new)
Paragraph 4 e (new)
4e. Considers that growth-orientated fiscal policies are needed at the European level, alongside an appropriate monetary policy, in order to strengthen the European economy,
Amendment 106 #
2018/2119(INI)
Motion for a resolution
Paragraph 4 f (new)
Paragraph 4 f (new)
4f. Notes that public investment in skills, education, research and innovation and infrastructure should be a top priority; also underlines on this purpose, the importance of investments aiming to upgrade transport infrastructures, including investments into smart, sustainable and safe mobility, including zero-emission mobility, in line with the EU 2030’s climate and energy targets;
Amendment 107 #
2018/2119(INI)
Motion for a resolution
Paragraph 4 g (new)
Paragraph 4 g (new)
4g. Insists on bringing expenditure on R&D closer to the EU2020 targets; calls on the Member States to set in place proper policies, and to provide investment to ensure equal access to lifelong education and training,
Amendment 108 #
2018/2119(INI)
Motion for a resolution
Paragraph 4 h (new)
Paragraph 4 h (new)
4h. Welcomes the Commission’s recommendation to encourage Members States with large current account surpluses to promote faster wage growth, strengthen investment and thus foster economic expansion; notes that euro area’s current account surplus is setting to around 3.6% in 2019 and 2020,
Amendment 109 #
2018/2119(INI)
Motion for a resolution
Paragraph 4 i (new)
Paragraph 4 i (new)
4i. Underlines the need to turn the principles proclaimed in the European Pillar of Social Rights into action, at both European and national levels; recalls that growth is not benefitting all citizens and countries in the same manner and that the legacy of the crisis still persist in several Member States; notes that inequalities are still high and need to be tackled through the adoption of strong social policies;
Amendment 110 #
2018/2119(INI)
Motion for a resolution
Paragraph 4 j (new)
Paragraph 4 j (new)
4j. Deeply regrets the proposed cuts in cohesion policy as set out by the Commission MFF proposal; insists on the fact that a decrease in structural funding runs counter to the EU’s objective of strengthening economic, social and territorial cohesion and puts at risk the key importance of the ESIF in stimulating public and private investment; recalls that the EU cohesion policy has a direct impact on citizens’ lives; recalls that the Cohesion Funds are responsible for a substantial part of the total public investment in some Member States;
Amendment 111 #
2018/2119(INI)
Motion for a resolution
Paragraph 4 k (new)
Paragraph 4 k (new)
4k. Welcomes the improvements made in the InvestEU regulation; requests that the focus of the InvestEU programme be placed on efficient resources and decarbonisation projects, and stresses the need to guarantee a fair geographical allocation of investments among Member States and regions; believes that the InvestEU programme should, in no case, be a substitute of the Cohesion Policy,
Amendment 113 #
2018/2119(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
Amendment 120 #
2018/2119(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 136 #
2018/2119(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
Amendment 144 #
2018/2119(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 155 #
2018/2119(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 162 #
Amendment 163 #
2018/2119(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 169 #
2018/2119(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 177 #
2018/2119(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 184 #
2018/2119(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
Amendment 192 #
2018/2119(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
Amendment 199 #
2018/2119(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 209 #
2018/2119(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
Amendment 214 #
2018/2119(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
Amendment 223 #
2018/2119(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
Amendment 234 #
2018/2119(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 241 #
2018/2119(INI)
Motion for a resolution
Subheading 3
Subheading 3
Amendment 242 #
2018/2119(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Agrees with the Commission that higher productivity growth should be a central objective of national reforms; believes that broader and faster uptake of productivity-enhancing technologies require measures to promote relevant and inclusive investments, skills developments, stronger links between education and training systems and businesses,
Amendment 243 #
2018/2119(INI)
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20b. Stresses that increasing productivity growth requires investment in R&D, innovation, and digitalisation, with an emphasis on increasing both physical and human capital; Underlines that digitalisation, globalisation and technological change are radically transforming our labour markets;
Amendment 252 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Believes that inclusiveness should be at the core of reform efforts, ensuring that productivity economic growth gains benefit all citizens
Amendment 253 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 c (new)
Paragraph 21 c (new)
21c. Is concerned about the high and rising in-work poverty in several Member States; recalls that the risk of poverty or social exclusion is still very high in particular for children, people with disabilities and people with a migrant background; notes that tackling poverty and inequalities also requires inclusive efficient tax-benefits systems,
Amendment 254 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 d (new)
Paragraph 21 d (new)
21d. Stresses that inclusiveness requires a stronger focus on quality education, training and adult learning; fairer tax systems; social inclusion policies and universal access to quality healthcare, childcare and long term care services
Amendment 255 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 e (new)
Paragraph 21 e (new)
21e. Points out that wage growth is of crucial importance to reduce inequalities and support upward convergence of living standards
Amendment 256 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 f (new)
Paragraph 21 f (new)
21f. Insists on the need to take due account of the 20 key principles and rights to support fair and well-functioning labour markets outlined in the European Pillar of Social Rights, which should serve as a compass for a renewed process of upward convergence towards better working and living conditions in the European Union
Amendment 257 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 g (new)
Paragraph 21 g (new)
21g. Recalls the need for stronger surveillance of the employment and social situation in Europe and appropriate and constant follow-up at every step of the European Semester in order to boost quality job creation and thus achieve smart, sustainable and inclusive growth;
Amendment 258 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 h (new)
Paragraph 21 h (new)
21h. Calls on Member States to adopt measures to help and integrate young citizens not in education, employment or training (NEETs); also calls for more efficient policies to integrate migrants and refugees fighting, also, against any possible in the and fight against any labour market discrimination;
Amendment 259 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 i (new)
Paragraph 21 i (new)
21i. Believes that broader and faster uptake of productivity-enhancing technologies require measures to promote relevant and inclusive investments, skills developments, stronger links between education and training systems and businesses;
Amendment 260 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 j (new)
Paragraph 21 j (new)
21j. Stresses the importance of increasing the labour force participation rate in order to keep social security systems sustainable, particularly in the context of an increasing dependency ratio;
Amendment 261 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 k (new)
Paragraph 21 k (new)
21k. Calls for a tax shift away from the high tax burden on labour in Europe; calls also for taxation reforms with a view to improving tax collection; highlights the need for better coordination of administrative practices in the field of taxation;
Amendment 262 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 l (new)
Paragraph 21 l (new)
21l. Highlights that small and medium- sized enterprises (SMEs), which are an important driver of employment, cannot fully harness the potential of the European single market owing to legislative and administrative barriers; urges the Commission to reduce these barriers; urges the Commission, moreover, to tackle unfair competition and taxation among SMEs and multinational corporations;
Amendment 263 #
2018/2119(INI)
Motion for a resolution
Paragraph 21 m (new)
Paragraph 21 m (new)
21m. Notes that the Commission’s 2018 Ageing Report shows that fiscal costs linked to pensions, healthcare and long- term care are expected to rise over the coming decades, as Europe’s population continues to age significantly;
Amendment 264 #
2018/2119(INI)
21n. Urges Member States to take responsibility for future generations, and to ensure the sustainability of our social security systems and, in so doing, the future of our welfare states;
Amendment 265 #
2018/2119(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
Amendment 270 #
2018/2119(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
Amendment 277 #
2018/2119(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
Amendment 281 #
2018/2119(INI)
24. Stresses that intra-European foreign direct investment leads to productivity gains for both the investing firm and local firms in the host regions, and generates economic convergence within Europe;
Amendment 283 #
2018/2119(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Highlights that mobilising a shrinking working-age population will require more skilled employees, combined with active labour market policies, life- long learning and training, and accessible social security systems, as outlined in the European Pillar of Social Rights;
Amendment 284 #
2018/2119(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Recalls the importance of a resilient banking sector that safeguards financial stability; welcomes calls for the step-by-step completion of the banking union, with a credible European deposit insurance scheme and a package to reduce non-performing loans;
Amendment 286 #
2018/2119(INI)
Motion for a resolution
Subheading 3 a (new)
Subheading 3 a (new)
Macroeconomic stability and Sound Public Finances
Amendment 287 #
2018/2119(INI)
Motion for a resolution
Paragraph 24 c (new)
Paragraph 24 c (new)
24c. Acknowledges the efforts made by a number Member States to consolidate and improve public finances; notes, in particular, the decrease of the euro’s general aggregate deficit and the GDP- Debt ratio with, notes that some Member States with fiscal space have contributed to the euro area’s current account surplus;
Amendment 288 #
2018/2119(INI)
Motion for a resolution
Paragraph 24 d (new)
Paragraph 24 d (new)
24d. Notes that no euro area Member State is forecast to have a deficit above the 3% of GDP threshold in 2019, and that the aggregate euro area headline deficit is expected to fall to 0.6% of GDP in 2018, slighting rising to 0.8% of GDP in 2019; recalls that the euro area debt-to-GDP ratio is expected to continue its declining trend of recent years and to fall from around 87% in 2018 to around 85% in 2019;
Amendment 289 #
2018/2119(INI)
Motion for a resolution
Paragraph 24 e (new)
Paragraph 24 e (new)
24e. Calls for a simplification of the budgetary rules to overcome the lack of consistency of the current EU fiscal framework; supports flexibility in the implementation of the Stability and Growth Pact as proposed by the Commission in 2015; stresses that flexibility, as built into the SGP rules, should strike a good balance between the objective of ensuring prudent fiscal policy and allowing for productive investments;
Amendment 290 #
2018/2119(INI)
Motion for a resolution
Subheading 3 b (new)
Subheading 3 b (new)
Welcomes the submission of the revised draft budgetary plan for 2019 by the Italian authorities and the agreement reached with the Commission;
Amendment 291 #
2018/2119(INI)
Motion for a resolution
Paragraph 24 f (new)
Paragraph 24 f (new)
24f. Agrees with the Commission that macro-financial stability and sound public financial remain a precondition for sustainable growth; Calls for continuous efforts by Member States to reduce deficits and public debt, building fiscal buffers where needed; underlines that coping with potential future shocks requires long-overdue progress in deepening the EMU, completing the Banking Union and creating a meaningful central stabilization function, and keeping strong incentives for sustainable structural reforms;
Amendment 292 #
2018/2119(INI)
Motion for a resolution
Paragraph 24 g (new)
Paragraph 24 g (new)
24g. Recalls that the completion of the EMU requires strong political commitment, efficient governance based on the Community method and democratic accountability; Underlines the need to strike the right balance between fiscal responsibility and solidarity;
Amendment 293 #
2018/2119(INI)
24h. Welcomes the conclusions of the Eurogroup of 4 December 2018 which were endorsed by the EuroSummit of 14 December 2018; welcomes namely the anticipation of the introduction of the backstop to the SRF by 2020 and the endorsement of the Term Sheet on the ESM; regrets, however, that no concrete outcome regarding the future fiscal capacity and the stabilization function has been reached; underlines that significant progress has been achieved recently on the side of risk reduction; recalls also that the European Parliament has made substantial contributions to enable this in particular on the so-called Banking package and the Non-Performing Loans prudential backstop;
Amendment 294 #
2018/2119(INI)
Motion for a resolution
Paragraph 24 i (new)
Paragraph 24 i (new)
24i. Takes the view that the development of new budgetary tools aimed at stabilisation and convergence in the euro area would be extremely important for the economic governance of the eurozone;
Amendment 295 #
2018/2119(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
Amendment 301 #
2018/2119(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Welcomes the efforts made to strengthen the financial sector and reduce the NPLs; Recalls the importance of efficient regulation of the banking and financial sectors to forestall any new crises; Recalls the need for urgently completing the Banking Union by establishing a European Deposit Insurance Scheme (EDIS) and a common fiscal backstop;
Amendment 302 #
Amendment 303 #
2018/2119(INI)
Motion for a resolution
Paragraph 25 b (new)
Paragraph 25 b (new)
25b. Highlights the urgent need for a fully-fledged capital markets union, also to promote sustainable private investment;
Amendment 4 #
2018/2111(INI)
Motion for a resolution
Citation 29 a (new)
Citation 29 a (new)
- - having regard to its resolution of 16 February 2017 on improving the functioning of the European Union building on the potential of the Lisbon Treaty,
Amendment 5 #
2018/2111(INI)
Motion for a resolution
Citation 29 b (new)
Citation 29 b (new)
- - having regard to its resolution of 7 February 2018 on the composition of the European Parliament,
Amendment 6 #
2018/2111(INI)
Motion for a resolution
Citation 29 c (new)
Citation 29 c (new)
- - having regard to its recommendation of 4 July 2018 on the draft Council decision amending the Act concerning the election of the members of the European Parliament by direct universal suffrage, annexed to Council Decision 76/787/ECSC, EEC, Euratom of 20 September 1976 (the 'Electoral Act'),
Amendment 7 #
2018/2111(INI)
Motion for a resolution
Citation 29 d (new)
Citation 29 d (new)
- - having regard to its decision of 7 February 2018 on the revision of the Framework Agreement on relations between the European Parliament and the European Commission,
Amendment 8 #
2018/2111(INI)
Motion for a resolution
Citation 29 e (new)
Citation 29 e (new)
- - having regard to its resolution of 30 May 2018 on the 2021-2027 Multiannual Financial Framework and own resources,
Amendment 9 #
2018/2111(INI)
Motion for a resolution
Citation 29 f (new)
Citation 29 f (new)
- having regard to its resolution of 14 November 2018 on the Multiannual Financial Framework 2021-2027 - Parliament's position with a view to an agreement,
Amendment 10 #
2018/2111(INI)
Motion for a resolution
Citation 29 g (new)
Citation 29 g (new)
- having regard to the European Commission’s communication to the European Parliament, the Council, the European Economic and Social Committee and the Committee of Regions on securing free and fair European elections,
Amendment 47 #
2018/2111(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Is concerned at the trend to decline in voter turnout in both national and European Parliament elections, especially among young people; is convinced that European citizenship has the potential to help reverse that decline by increasing citizens’ sense of belonging to a European community and boosting representative democracy;
Amendment 59 #
2018/2111(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Welcomes the benefits that free movement brings to EU citizens and the Member States’ economies; points out that the rights derived from Directive 2004/38/EC on the right of citizens of the Union and their families to move and reside freely within the territory of the Member States are not always known and respected, which leads to obstacles to free movement and residence for EU citizens and their families, as well as to their discrimination;
Amendment 64 #
2018/2111(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Is deeply concerned about the findings of the research carried out by the European Union Agency for Fundamental Rights, which has identified discrimination in finding employment, in accessing various services such as renting a car or an apartment or certain banking services, and in the fields of education and taxation; emphasises that discrimination on the grounds of nationality may create barriers to the free movement of Union citizens; calls on the EU and the Member States to pay particular attention to monitoring such cases of discrimination and to take decisive actions to prevent them;
Amendment 77 #
2018/2111(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Calls on the Member States to introduce e-democracy tools, at local and national level, and properly integrate them in the political process, facilitating democratic participation for both citizens and residents;
Amendment 80 #
2018/2111(INI)
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13 b. Stresses the importance of accessibility of information on EU citizenship and the rights derived from its possession, in all official languages of the European Union;
Amendment 81 #
2018/2111(INI)
Motion for a resolution
Paragraph 13 c (new)
Paragraph 13 c (new)
13 c. Stresses the importance of preserving the current budget for the Rights and Values Programme; firmly opposes its downsizing in the new Multiannual Financial Framework for 2021-2027 as proposed by the Commission;
Amendment 92 #
2018/2111(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Proposes to the Member States establishing a European public holiday on 9 May in order to reinforce a European feeling of belonging and create space for civic movements and activities;
Amendment 105 #
2018/2111(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Stresses the need for secure, fair and transparent sharing of data of citizens; recalls the Commission guidance on the application of Union data protection law in the electoral context; calls for every effort to be made in order to ensure elections free from any abusive outside interference;
Amendment 107 #
2018/2111(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19 b. Calls on the Commission and the Member States to strengthen their effort in promoting citizen rights among European citizens, including those related to voting rights; Underlines the need to launch a broad and inclusive pedagogical campaign on citizens’ rights; Notes that only continuous educational effort can ensure increased participation in elections at the European level;
Amendment 110 #
2018/2111(INI)
Motion for a resolution
Paragraph 19 c (new)
Paragraph 19 c (new)
19 c. Recalls the need to promote the European dimension of the European Parliamentary Elections; emphasizes the need to inform citizens about the recent reform of the electoral law, including the Spitzenkandidat process;
Amendment 111 #
2018/2111(INI)
Motion for a resolution
Paragraph 19 d (new)
Paragraph 19 d (new)
19 d. Recalls that the European Parliament is the parliament of the whole Union, and that it plays an essential role in ensuring the legitimacy of the EU political institutions in making them accountable by ensuring proper parliamentary scrutiny; insists therefore that Parliament’s legislative powers and control rights must be guaranteed, consolidated and strengthened;
Amendment 1 #
2018/0805(CNS)
Citation 3 a (new)
- having regard to its resolution of 7 February 2018 on the composition of the European Parliament1a; ________________ 1a Text adopted, P8_TA(2018)0029.
Amendment 4 #
2018/0091M(NLE)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
– having regard to the Opinion of the European Economic and Social Committee on the role of civil society in the EU-Japan Free Trade Agreement of October 2014,
Amendment 5 #
2018/0091M(NLE)
Motion for a resolution
Citation 8 b (new)
Citation 8 b (new)
– having regard to the analysis on the economic impact of the EU-Japan Economic Partnership Agreement of the European Commission’s Directorate- General for Trade of June 2018,
Amendment 16 #
2018/0091M(NLE)
Motion for a resolution
Recital B
Recital B
B. whereas the EU-Japan Economic Partnership Agreement (EPA) has a strategic dimension and is the most important bilateral trade agreement ever concluded by the Union as it covers nearly a third of world GDP, almost 40 percent of world trade and more than 600 million people;
Amendment 83 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the fact that Japan will, notably, grant non-discriminatory access for EU suppliers to the procurement markets of 48 cities54 core cities, and may enlarge the number of cities covered even further, remove the ‘operational safety clause’, which has in practise prevented EU rail suppliers to access the Japanese market, and maximise transparency in tendering for public contracts;
Amendment 89 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes that the agreement provides significant export opportunities for EU agri-food products, such as wine, pig meat and cheese, and that it protects 205 European geographical indications (GIs), with the possibility to add further GIs, which is particularly important for small and medium-sized enterprises (SMEs) in the food sector;
Amendment 99 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Highlights the fact that the agreement promotes best practices for providing safe and high-quality food and products for consumers; recalls the EU’s application of the precautionary principle and welcomes the inclusion of a clear reference to the precautionary approach in the agreement; calls on both partners to mainstream consumer protection and consumer welfare in the implementation of the agreement;
Amendment 103 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses that both parties are committed to ensure high levels of environmental and labour protection and that those high standards should not be regarded as trade barriers; recalls Goal 5 of the Sustainable Development Goals in the United Nations 2030 Agenda for Sustainable Development, welcomes the fact that both Japan and the EU have adhered themselves to the “Buenos Aires Declaration on Women and Trade” and calls on both parties to strongly reinforce commitments on gender and trade in this agreement; expects the EU and Japan to show their commitment to the Sustainable Development Goals in all their actions, including the implementation of this agreement;
Amendment 114 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the commitment to the effective implementation of the Paris Agreement to combat climate change and of other multilateral environmental agreements, as well as to the sustainable management of forests (including fighting illegal logging) and fisheries (combating illegal, unreported and unregulated fishing); recalls that EU legislation remains applicable to products imported into the European market; calls on both parties to cooperate closely under the sustainable development chapter to exchange best practices and to strengthen the enforcement of legislation in these matters;
Amendment 131 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Highlights the fact that the agreement includes the clear commitment to pursue the ratification of fundamental ILO conventions; regrets that Japan has not yet ratified two ILO core conventions (on discrimination and on the abolition of forced labour) and expects, in light of commitments made in the EPA, concrete progressand swift progress in a reasonable timeframe on the part of Japan towards the ratification of these conventions;
Amendment 134 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Welcomes that Japan will establish an inter-ministerial framework to deal with the implementation of sustainable development commitments, including the ratification of the ILO core conventions, and that the trade and sustainable development committee foreseen by the agreement is tasked with interacting with civil society on the implementation of the sustainable development chapter;
Amendment 169 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Points out that the EPA foresees the temporary movement of professionals across borders (so-called mode 4), committing both sides to intra-corporate transfers in about 40 sectors and for independent professionals in about 20 sectors, which contributes to facilitate EU-Japan foreign direct investment ties;
Amendment 183 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Underlines that the EPA includes an anti-fraud clause, which makes it possible for the EU to withdraw trade preferences in cases of fraud and refusal to cooperate on customs matters, while ensuring that legitimate traders are not adversely affected;
Amendment 205 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Takes note that negotiations continue on a separate investment agreement, which the European Parliament will monitor closely, and reiterates that it is unacceptable to return to the old, private ISDS mechanism;
Amendment 216 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that the agreement includes a rendezvous clause to assess the issue of cross-border transfer of data provisions within three years and recognises the growing importance of the digital economy for growth and jobs; calls on the Commission to fully respect the EU law on data protection and on the protection of privacy and stresses that any future outcome must be subject to the consent of Parliament and safeguard EU citizens’ fundamental rights;
Amendment 218 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Calls on the Commission to enhance cooperation and coordination with Japan on multilateral issues, in close cooperation with other strategic partners, to defend and to develop further the global trading system based on the respect of WTO law and other international norms;
Amendment 221 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Calls for the prompt establishment of the SME contact points and website to make sure that relevant information on market access is made available to small companies;
Amendment 227 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Urges both partners to ensure the active involvement of social partners and civil society in the monitoring and implementation of the EPA, notably through the joint dialogue with civil society and the domestic advisory group; calls on the Commission to actively establish and share best practices with Japan on the functioning of domestic advisory groups and the joint dialogue; calls on both parties to ensure a speedy set-up of well-functioning, effective and balanced domestic advisory groups with a proper code of conduct and to ensure that their views are taken into account in a transparent manner in the government to government consultations foreseen in the agreement;
Amendment 233 #
2018/0091M(NLE)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Expects full transparency on the functioning of the sectorial committees to be established under the agreement both with regard to the Parliament and the general public;
Amendment 78 #
2018/0060(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) For the purposes of applying the backstop, it is appropriate to introduce in Regulation (EU) No 575/2013 a clear set of conditions for the classification of NPEs. As Commission Implementing Regulation (EU) No 680/2014 already lays down criteria concerning NPEs for the purposes of supervisory reporting, it is appropriate that the classification of NPEs builds on that existing framework and in particular on the Basel Committee Guidelines on prudential treatment of problem assets, thus ensuring a level playing field between the European Union and other jurisdictions. Commission Implementing Regulation (EU) No 680/2014 refers to defaulted exposures as defined for the purposes of calculating own funds requirements for credit risk and exposures impaired pursuant to the applicable accounting framework. As forbearance measures may influence whether an exposure is classified as non- performing, the classification criteria are complemented by clear criteria on the impact of forbearance measures. Forbearance measures may have different justifications and consequences, it is therefore appropriate to provide that a forbearance measure granted to a non- performing exposure should not discontinue the classification of that exposure as non- performing unless certain strict discontinuation criteria are fulfilled.
Amendment 89 #
2018/0060(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) Secured NPEs generally entail less risk than unsecured NPEs, as the credit protection securing the loan gives the institution a specific claim on an asset or against a third party in addition to the institution's general claim against the defaulted borrower. Specifically in the case where there is a recent independent valuation of the collateral, which takes into account, among other factors, its recoverability and enforceability, no additional provisions would be required. In the case of an unsecured loan, only the general claim against the defaulted borrower would be available. Given the higher risk of unsecured loans, a stricter calendar should be applied. An exposure which is only partly covered by collateral should be considered as secured for the covered part, and as unsecured for the part which is not covered by collateral.
Amendment 102 #
2018/0060(COD)
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10 a) The backstop is a safeguard at the institution level intended to set prudential minimum provisioning requirements for non-performing exposures. As such, the prudential backstop should be applied on an aggregated level. This aggregation should not surpass the individual institution level and there should not be any netting between different institutions from the same banking group.
Amendment 147 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47a – paragraph 6 – point b
Article 47a – paragraph 6 – point b
(b) at least one yearthree months hasve passed since the latest between the moment where the forbearance measures have been granted and the moment where exposures have been classified as non-performing. In exceptional circumstances, and subject to prior agreement from supervisors, a shortened period may be used when a bank puts in place specific remedial measures to restructure the borrowers’ business, that include a direct participation in the borrower, that are immediately applicable and make the full repayment of the exposure likely;
Amendment 154 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47a – paragraph 7 – point a
Article 47a – paragraph 7 – point a
(a) at least twoone years haves passed since the date the forborne exposure was re- classified as performing;
Amendment 163 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47a – paragraph 7a (new)
Article 47a – paragraph 7a (new)
7 a. EBA shall develop draft regulatory technical standards to specify the conditions related to the application of of the definition of non-performing exposures. EBA shall submit those draft regulatory technical standards to the Commission by [insert: date of entry into force + 6 months]. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first sub-paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.
Amendment 167 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47b – paragraph 1 – introductory part
Article 47b – paragraph 1 – introductory part
1. For the purposes of Article 47a, 'forbearance measure' shall include a concession by an institution towards an obligor that is experiencing or is likely to experience a deterioration infinancial difficulty in meeting its financial situationcommitments. A concession may entail a loss for the lender and shall refer to either of the following actions:
Amendment 197 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 1 – subparagraph 2
Article 47c – paragraph 1 – subparagraph 2
The secured part of a non-performing exposure is the part of such exposure which is covered by a funded credit protection or unfunded credit protection in accordance with Chapters 3 and 4 of Title IIthe provisions of Part Three of Title II or part of an exposure fully secured by mortgages.
Amendment 213 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 2 – point b
Article 47c – paragraph 2 – point b
Amendment 229 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 2 – point d
Article 47c – paragraph 2 – point d
Amendment 240 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c– paragraph 3 – point b
Article 47c– paragraph 3 – point b
Amendment 259 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 3 – point d
Article 47c – paragraph 3 – point d
Amendment 270 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 3 – point f
Article 47c – paragraph 3 – point f
Amendment 283 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 3 – point h
Article 47c – paragraph 3 – point h
Amendment 296 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47 c – paragraph 3 – point j
Article 47 c – paragraph 3 – point j
Amendment 310 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 3 – point l
Article 47c – paragraph 3 – point l
Amendment 324 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 3 – point n
Article 47c – paragraph 3 – point n
Amendment 338 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47 c – paragraph 3 – point p
Article 47 c – paragraph 3 – point p
Amendment 354 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 3 a (new)
Article 47c – paragraph 3 a (new)
3 a. The factors foreseen under this paragraph shall not apply when the collateral has been appraised within the last year by an entity independent from both credit institution and the debtor, and that appraisal took into account the probability of recovery of the collateral.
Amendment 363 #
2018/0060(COD)
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
Regulation (EU) No 575/2013
Article 47c – paragraph 5 – subparagraph 1
Article 47c – paragraph 5 – subparagraph 1
EBA shall assess the range of practices applied for the valuation of secured non- performing exposures anddevelop guidelines on the methodology to calculate the secured part of such exposures fot the purposes of this Article by [date of entry into force + 12 months]. Additionally, EBA may develop guidelines to specify a common methodology, including possible minimum requirements for re-valuation in terms of timing and ad hoc methods, for the prudential valuation of eligible forms of funded and unfunded credit protection, in particular regarding assumptions pertaining to their recoverability and enforceability.
Amendment 381 #
2018/0060(COD)
Proposal for a regulation
Article 1 a (new)
Article 1 a (new)
Article 1 a Review Four years after the entry into force of this Regulation, the Commission, taking intoaccount a report by EBA, shall review the adequacy of the definitions foreseenunder articles 47a and 47b of Regulation (EU) No 575/2013 and the adequacy andeffectiveness of rules on deductions for non performing exposures foreseenunder article 47c of Regulation (EU) No 575/2013.
Amendment 1 #
2017/2274(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Notes that Chinathe People's Republic of China, hereinafter PRC, is the EU’s second-largest trading partner and that the EU is Chinathe PRC’s largest trading partner, and that the trade balance has a significant deficit in China’s favour;
Amendment 9 #
2017/2274(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Notes that Chinathe PRC is a major global trade player and that this could represent a good opportunity for EU businesses;
Amendment 34 #
2017/2274(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls on China to act onthe PRC to fulfil the commitments enshrined in China’s Accession Protocol to the WTO and those made by President Xi Jinping’s commitments, as a result of increased trade tensions, to further open up the Chinese market to foreign investors, strengthen the protection of intellectual property rights and level the playing field by making China’s market more transparent and better regulated, and by ceasing all the discriminatory practices against foreign investors, in this respect recalls that those reforms will benefit both Chinese and European businesses, especially MSMEs;
Amendment 43 #
2017/2274(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls for coordinated cooperation with Chinathe PRC on the Belt and Road Initiative on the basis ofbased on reciprocity, sustainable development, good governance, and open and transparent rules, in particular regarding public procurement; in this respect regrets that the Memorandum of Understanding signed by the European Investment Fund and China’s Silk Road Fund (SRF) and the one signed by the European Investment Bank (EIB), the Asian Development Bank, the Asian Infrastructure Investment Bank, the European Bank for Reconstruction and Development, the New Development Bank, and the World Bank have not yet improved the business environment for European enterprises and workers;
Amendment 56 #
2017/2274(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Supports the on-going negotiations on a comprehensive EU-China PRC Investment Agreement; calls for further reciprocity in market access that were launched in 2013; calls on the Parties to renew efforts to advance in the negotiations aimed at achieving a genuine level playing field for European businesses and workers and to ensure reciprocity in market access; calls for the inclusion of a binding and enforceable Trade and Sustainable Development chapter;
Amendment 72 #
2017/2274(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Calls on Chinathe PRC to strive to play a responsible role on the global stage, including giving its active support to the multilateral rules-based trading system and the WTO; in the context of increasing bilateral trade tensions, reiterates the need to pursue multilateral solutions; in this respect calls for the fulfilment of WTO obligations and the protection of its operative mechanisms;
Amendment 75 #
2017/2274(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Calls for the resumption of negotiations, in line with the European Parliament’s resolution, on the Trade in Service Agreement (TiSA) and on the Environmental Goods Agreement (EGA), building on the fruitful EU-PRC cooperation in the fight against climate change and the strong joint commitment towards the implementation of the Paris Agreement;
Amendment 78 #
2017/2274(INI)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Regrets that the PRC, despite the conclusion of the procedure on the reform of the European calculation methodology for anti-dumping duties, has not yet withdrawn its case against the EU at the WTO appellate body;
Amendment 88 #
2017/2274(INI)
Draft opinion
Paragraph 9
Paragraph 9
9. Expresses concern about market access being increasingly conditional on forced technology transfers, as stated in the EU Chamber of Commerce in China’s 2017 position paper;
Amendment 90 #
2017/2274(INI)
Draft opinion
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Takes note with concern of the conclusions of the Commission’s report on the protection and enforcement of intellectual property rights in third countries that indicates the PRC as the chief concern; reiterates the need to ensure protection to European knowledge-based economy; calls on the PRC to fight the illicit use of European licences by Chinese companies;
Amendment 92 #
2017/2274(INI)
Draft opinion
Paragraph 9 b (new)
Paragraph 9 b (new)
9b. Welcomes the EU-PRC’s 2017 joint announcement over a list of 200 Chinese and European GIs whose protection will be negotiated; however, considering that negotiations were launched in 2010, considers it a very modest result and regrets the lack of progress in this regard;
Amendment 94 #
2017/2274(INI)
Draft opinion
Paragraph 10
Paragraph 10
10. Expresses concern about industrial overcapacity in Chinathe PRC’s steel sector; recalls the commitments made at the first ministerial meeting of the Global Forum on Steel Excess Capacity in 2017 to refrain from providing market-distorting subsidies. ; regrets that the Chinese delegation has failed to deliver the data on capacity at the Global Forum on Excess Capacity; calls on the PRC to fulfil its commitment to identify and disclose data on its subsidies and support measures to the steel and aluminium industries by June 2018; takes note of the proposed tripartite action by the US, Japan and the EU at the WTO level;
Amendment 24 #
2017/2233(ACI)
Motion for a resolution
Recital G
Recital G
G. whereas the draft amendments also provide for the necessary safeguards to protect transparency, impartiality, confidentiality and collegiality, both of which continue to apply to campaigning Commissioners;
Amendment 35 #
2017/2233(ACI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that the Spitzenkandidaten process is a further step in strengthening the EU’s parliamentary dimension, and that such a principle cannot be overturned; therefore warns that the European Parliament willcan reject any candidate in the investiture procedure of the Commission President who was not appointed as a Spitzenkandidat in the run- up to the elections of the European Parliament;
Amendment 42 #
2017/2233(ACI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Underlines that the Spitzenkandidaten process fosters the political awareness of European citizens in the run-up to the elections of the European Parliament and reinforces the political legitimacy of both Parliament and the Commission by connecting their respective elections more directly to the choice of the voters; acknowledges therefore the important added value of the Spitzenkandidat principle in the goal of a stronger politicisation of the European Comission;
Amendment 52 #
2017/2233(ACI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Reaffirms that the introduction of transnational lists led by the Spitzenkandidaten could represent a powerful tool to strengthen the European democracy;
Amendment 57 #
2017/2233(ACI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Considers important to provide the Code of Conduct with strong standards of transparency, impartiality and safeguards in order to avoid any possible conflict of interest of the campaigning Commissioners;
Amendment 58 #
2017/2233(ACI)
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Recalls in particular its request of a three year cooling-off period applicable to Commissioners out of the office;
Amendment 9 #
2017/2114(INI)
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
Amendment 10 #
2017/2114(INI)
Motion for a resolution
Citation 19 a (new)
Citation 19 a (new)
- having regard to the COP 21 agreement adopted at the Paris Climate Conference on 12 December 2015,
Amendment 18 #
2017/2114(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the GDP growth rate for the euro area was 1.8 % in 2016 and, according to the European Commission's projections, is set to remain steady at 1.7 % in 2017 and at 1.9 % in the EU overall, surpassing pre- crisis levels while still being insufficient and uneven across Member States;
Amendment 21 #
2017/2114(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas euro area deficit is projected to decrease to stand at 1,4% in 2017 and 1,3% in 2018;
Amendment 22 #
2017/2114(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
A b. whereas euro area government debt is projected to decrease to stand at 90,3% in 2017 and 89,0% in 2018;
Amendment 29 #
2017/2114(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the euro area and EU28 unemployment rates were 9.3 % and 7.8 % respectively in April 2017, their lowest rates since March 2009 and December 2008; whereas significant differences in unemployment rates remain across the EU ranging between 3.2 % and 23.2 %; whereas youth and long-term unemployment is still very high;
Amendment 32 #
2017/2114(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas global economic growth is still fragile and the euro area economy is faced with increased uncertainty and important internal and external political challenges;
Amendment 37 #
2017/2114(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the EU’'s excessively low productivity levels and global competitiveness calls for structural reforms, continued fiscpublic and private investment, socially balanced structural reffortms and investmenta modestly expansionary fiscal stance in Member States in order to bring about sustained growth and employment and achieve upward convergence with other global economies and within the EU;
Amendment 48 #
2017/2114(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas the euro area is still facing a significant 'investment gap';
Amendment 51 #
2017/2114(INI)
Motion for a resolution
Recital C b (new)
Recital C b (new)
C b. whereas aggregate demand in the euro area is sluggish and inflation remains below target;
Amendment 54 #
2017/2114(INI)
Motion for a resolution
Recital C c (new)
Recital C c (new)
C c. whereas private consumption remains the key driver of growth;
Amendment 56 #
2017/2114(INI)
Motion for a resolution
Recital C d (new)
Recital C d (new)
C d. whereas some Member States continue to accumulate high current account surpluses, which goes counter and makes it more difficult to achieve the goal of economic growth;
Amendment 64 #
2017/2114(INI)
1. Welcomes the gooimproved performance of the European economy, supported by moderate GDP growth and decreasing, yet still high, unemployment rates; notes that the modest recovery remains fragile and thatunevenly distributed across society and regions, while the development of GDP per capita is close to stagnation; regrets that economic developments remain burdened by the legacies of the crisis, including persistent inequalities and disparities across countries;
Amendment 72 #
2017/2114(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Underlines that the still-too-high unemployment rates, particularly in some member States and especially for youth unemployment, show that the capacity to create quality employment in several Member States is still limited, and emphasises that further action is needed, in consultation with the social partners, in order to step up investment in skills, make labour markets more inclusive and reduce social exclusion and growing inequalities in income and wealth;
Amendment 79 #
2017/2114(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that Europe harbours untapped economic potential as growth and employment are advancing unevenly; underlines that this is the result of the heterogeneous performance of the Member States’' economies; emphasises that the implementation of structural reforms caused, to a great extent, by the architectural and institutional deficiencies of the euro area and procyclical policies; recalls that economic and social convergence among Member States should remain a top priority of the European Semester and one of the main drivers in designing the economic policies of the euro area; emphasises that higher public and private investment as well as the implementation of socially balanced structural reforms both at the European level and in the Member States could facilitate at least 1 % higher growth levels;
Amendment 89 #
2017/2114(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Takes the view that a greater degree of upward convergence would be needed to sustain the economic recovery in the EU and the euro area in the longer term; considers there is an urgent need to tackle the significant imbalances that persist within the euro area and the EU more generally, namely the fact that in many cases convergence among and within the Member States is stalled; notes that high current account surpluses imply the possibility of boosting domestic demand; urges Member States with fiscal space to expand their domestic demand for their own and general benefit;
Amendment 99 #
2017/2114(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Considers that for this to materialise the structural conditions for growth need to be improved; takes the view that the potential growth of all Member States should increase in the long term to at least 3 %; for this to happen, establishing clear benchmarks on how to improve the potential growth of Member States could provide the necessary guidance for policy actions; points out that such a regular benchmarking exercise would have to take due account of individual structural strengths and weaknesses ofcalls on all Member States to proceed with high quality investments in order to modernise their economies and establish a sustainable business environment for long-term growth, in line with the Europe 2020 strategy; takes the view that the potential growth of all Member States should increase in the long term to at least 3 %; for this to happen, a stronger focus must be put on economic convergence, delivering the necessary tools to level the economic performance of all euro area Member States;
Amendment 111 #
2017/2114(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Emphasises that this would complement ongoing efforts on improving the quality and management of national budgets by addressing the triggers for growth in line with Union fiscal rules and with full respect of its existing flexibility;
Amendment 115 #
2017/2114(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Agrees with the assessment from the Commission that the correction of macroeconomic imbalances continues, reflecting progress in implementing relevant reforms, but it remains largely asymmetric across the EU also in the sense that it is countries with external deficits or debt that have made further progress while, at the same time, large current account surpluses persist in some other countries;
Amendment 121 #
Amendment 127 #
2017/2114(INI)
6. Considers that the uneven growth and employment situation in the euro area requires better coordination of structural reforms, in particular through improved implementation of the country-specific recommendations (CSR)economic policies as well as improved national ownership and sound implementation of the country-specific recommendations (CSR), also with a view to promoting upward convergence; highlights that reforms need to take due account of the specific socio-economic situation and challenges in each Member State;
Amendment 134 #
2017/2114(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Agrees with the Commission that addressing the legacy of the crisis, from long-term unemployment to high levels of private and public debt, remains an urgent priority, which calls for the implementation of sustainable and inclusive reforms designed to foster social justice, mitigate income inequalities and support convergence towards better outcomes;
Amendment 138 #
2017/2114(INI)
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Urges all Member States to focus on reforms that facilitate investment in social infrastructure, education, early childhood education and care and lifelong learning, as well as on reforms promoting research and innovation capacity;
Amendment 139 #
2017/2114(INI)
Motion for a resolution
Paragraph 6 c (new)
Paragraph 6 c (new)
6 c. Recalls that sustainable structural reforms should be supported by EU instruments, particularly by the European Structural and Investment Funds (ESIFs) and the European Fund for Strategic Investments (EFSI);
Amendment 145 #
2017/2114(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Is of the opinion that legacies from the crisis such as a high level of unemployment, inequality and indebtedness in all sectors of the economy still act as a drag on growth and pose potential risks; is concerned in this regard that the persistently high level of non- performing loans (NPLs) in some Member States, which are a legacy of the crisis and a result of the protracted period of sluggish growth since then, could have significant spill-over effects from one Member State to another, presenting a risk to financial stability in Europe; notes that capital buffers in the financial sector have been strengthened, but challenges arise from low profitability, coupled with high levels of NPLs; supports the proposal, backed by several European institutions and supervisory authorities, to create a European solution or blueprint for dealing with the current stock of NPLs in many banks' balance sheets; is convinced an EU-level strategy to deal with NPLs could promote a more comprehensive approach and concerted action at both national and European level;
Amendment 153 #
2017/2114(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Invites all relevant European institutions and bodies to step up their work on the completion of the Banking Union, including the setting-up of a common European Deposit Insurance Scheme together with a sound and robust backstop, and on the creation of a full- fledged Capital Markets Union;stresses that new capital and liquidity requirements, albeit necessary to enhance the resilience of the banking sector, should not undermine banks' ability to lend to the real economy;
Amendment 164 #
2017/2114(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Takes the view that reforms to improve the business climate are needed to boost productivity and employment in the euro area; believes additional efforts are required to boost access of SMEs to finance, which is a crucial factor for businesses to innovate and expand; underlines in this context the importance of both demand- and supply-side reforms, also taking into account distributional impacts;
Amendment 177 #
2017/2114(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Shares the Commission’s view on the need for changes in labour market legislation that provide flexibility and security for both employees and employers, thereby increasing employmentNotes that labour market conditions are improving across the board, although persistently high unemployment and inequality remain sources of social distress and weigh on economic performance in some Member states; recalls that significant labour market reforms have been adopted since 2010, notably in some of the countries hardest-hit by the crisis; agrees there is still scope for socially balanced and inclusive changes in labour market legislation, with the aim of increasing employment, fighting precariousness and the segmentation of the labour market, fighting income inequality, increasing female labour market participation, closing gender pay gaps, improving the work-life balance of men and women, promoting the inclusion of disadvantaged groups, preventing discrimination and ensuring sustainable growth;
Amendment 190 #
2017/2114(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Stresses the importance of growth- friendly wage developments in line with productivity; that provide a decent standard of living and take account of productivity gains; agrees with the Commission that in some countries that are at or close to full employment, real wage increases could accelerate with related positive effects on aggregate consumption;
Amendment 204 #
2017/2114(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. StressNotes that the lack of competitiveness and investment axation should not hinder investments and job creation; calls for reforms in taxation with a view to improving tax collection, preventing tax avoidance, tax evasion and aggressive tax planning, as well as tackling the EU is linked to a general tax burden that is 10 to 15 % higher than in competing markets, creating hindering tax wedges on companies, investhigh tax burden on labour in Europe while ensuring the sustainability of social protection systems; recalls that experience shows how low tax progressivity, combined with poor tax collection and a week social safety net, is damaging to society and economic growth; highlights the importance of using progressive tax rates to attain the redistributive effects of tax reforms; believes that tax and benefit systems combined, through the progressiveness of tax systems, good tax collection and the provision of adequate social benefits, can contribute to steering employments and labourreducing income inequalities and poverty;
Amendment 211 #
2017/2114(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Considers that inequality and poverty need to be addressed when designing policy reforms and monitoring their implementation;agrees with the Commission that tackling income inequality and poverty requires a comprehensive set of preventive and mitigating policies, including equal access to education and health care, improved labour market opportunities and earnings prospects, affordable quality services and well-designed tax and benefit systems;
Amendment 230 #
2017/2114(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Agrees that the economic upswing needs to be supported by public and private investment and notes that there is still an significant investment gap in the euro area; recognises, however, that in some Member States investments already exceed the pre-crisis levelunderlines that further efforts are needed to increase the stocks of capital equipment, intangible capital and infrastructures so as to compensate for the 'investment gap' accumulated since the outbreak of the crisis; recognises, however, that in some Member States investments already exceed the pre-crisis level, while in others investment is still lagging behind or not picking up at the necessary speed; believes this 'investment gap' needs to be filled in using both public and private levers; agrees with the Commission that Member States, in particular those with fiscal space, should sustain the upward trend in public investment;
Amendment 235 #
2017/2114(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Calls on euro area Member States and the Commission to speed up and maximize the use of European Structural and Investment Funds (ESIF) in order to take advantage of all internal growth drivers, targeting public investment to projects with significant macroeconomic impact that can boost innovation, productivity, competitiveness, as well as social inclusion, with a view to promoting upward convergence between Member States;
Amendment 240 #
2017/2114(INI)
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12 b. Underlines that public investments in human capital and infrastructure are of the utmost importance;considers that the economic crisis has highlighted the strong need to facilitate public and private investment in areas such as education, innovation and research and development;stresses the crucial role of public spending on education and life- long learning;believes the rate of public investments in education, infrastructure and research and innovation should grow, particularly in those Member States where there is more room to increase public expenditure;
Amendment 258 #
2017/2114(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Takes the view that a timely agreement in the ongoing negotiations on the revised European Fund for Strategic Investments (EFSI) could help to improve the effectiveness of this instrument and to address shortcomings experienced in its implementation so far; stresses that geographical and sectorial coverage must by significantly improved in order to strengthen territorial and social cohesion and promote real convergence, as well as to achieve a more impactful macroeconomic effect;
Amendment 266 #
2017/2114(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Agrees with the Commission that in countries with excess savings and low investment, additional investments are needed to ensure future economic success;
Amendment 267 #
2017/2114(INI)
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14 b. Highlights that public and private investment is crucial to allow for the transition towards a low-carbon and circular economy;recalls the commitments of the European Union, particularly in the Paris Agreement, to finance the deployment of clean technologies, the scaling-up of renewable energies and energy efficiency, and the overall reduction of greenhouse gas emissions;
Amendment 268 #
2017/2114(INI)
Motion for a resolution
Paragraph 14 c (new)
Paragraph 14 c (new)
14 c. Signals that some country specific recommendations (CSR) address obstacles to investment which the local and regional authorities can help remove;
Amendment 269 #
Amendment 281 #
2017/2114(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. CWelcomes the fact that public finances are expected to continue improving in both the euro area and the EU as a whole; considers that prudent fiscal policies play a fundamental role for the stability of the euro area and the Union as a whole, although challenges have receded significantly since the peak of the crisis and do not constitute a major source of risk for the euro area as a whole in the short term; underlines that strong coordination of fiscal policies and compliance with the Union rules in this area are a legal requirement and key to the proper functioning of Economic and Monetary Union (EMU); notes that fiscal rules should be duly implemented in an intelligent manner and with full respect of its existing flexibility clauses, inter alia to support greater investment and structural reforms, as well as to deal with security threats, refugee inflows and natural disasters;
Amendment 287 #
2017/2114(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the fact that deficits in the euro area are projected to decline; is concerned, however, that this process is slowing down and agrees that government debt remains too high in some Member Statesrecalls that the general government deficit in the euro area, which was above 6% a few years ago, is expected to be 1.4% this year; commends the tremendous efforts enacted by several Member States that have since managed to exit the Excessive Deficit Procedure; is concerned, however, that private and public debt remains too high in some Member States; notes that the levels of government debt have stabilised and are expected to decrease slowly to go just below 90% next year; emphasis that, in most cases, the large increase of debt in the recent past was the result of bank recapitalisation and low growth in nominal GDP, not of fiscal profligacy;
Amendment 301 #
2017/2114(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Agrees with the Commission that, when taking policy measures to achieve the recommended budgetary adjustments under the preventive arm of the Stability and Growth Pact, Member States should give serious consideration to the need to keep supporting the economic recovery and the potential impacts on employment;
Amendment 302 #
2017/2114(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Incentivizes all Member States to step up their efforts towards achieving a more growth-friendly composition of fiscal policies;supports rational and country-specific efforts towards improving the quality, efficiency and growth-friendly character of public expenditure, especially by shifting unproductive expenses towards growth enhancing investments, but without jeopardizing the essential provision of public and social services;
Amendment 304 #
2017/2114(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
Amendment 314 #
2017/2114(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
Amendment 325 #
2017/2114(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Believes the EU budget could help relieve the strain on national budgets by collecting own resources instead of relying extensively on national contributions;stresses that greater integration within the euro area is indispensable and that the creation of a budgetary capacity to absorb economic shocks, mitigate asymmetries and foster convergence is a key element in the completion of the EMU;
Amendment 327 #
Amendment 331 #
2017/2114(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Points out that the current aggregate fiscal stance for the euro is broadly neutral and presents an appropriate balance of debt sustainability requirementarea and the EU remained broadly neutral in 2016 and is set to remain so in 2017, which falls short of the goal set by the Commission of a positive or moderately expansionary fiscal stance for the euro area in 2017; believes this needs to be corrected, especially in those Member States with suppmorte for investmentiscal space;
Amendment 341 #
2017/2114(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Emphasises, however, that the aggregate view ignoresshould also take into account the heterogeneous situation across Member States and the need to differentiate the fiscal efforts required by each Member Stateapproach required by each Member State; stresses, in this regard, that Member States with a larger fiscal room of manoeuvre should adopt more expansionary policies; recalls that countries with deficits have been doing their part, which can be seen from the fact that since the crisis there are each time fewer Member States under the corrective arm of the Excessive Deficit Procure, but countries with surpluses must also do their part, scaling up spending and increasing demand, both for their own good and for the sake of a more balanced euro area;
Amendment 347 #
2017/2114(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20 a. Stresses that, within the existing rules of the Stability and Growth Pact, euro area Member States that have fiscal scope are therefore recommended to use it to support domestic demand, notably investment in infrastructure, research and innovation;
Amendment 350 #
2017/2114(INI)
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20 b. Deplores the fact that, contrary to other unified currency areas around the world, the EU's current fiscal framework contains no rules or instruments to directly manage the aggregate fiscal stance of the euro area;
Amendment 355 #
2017/2114(INI)
Motion for a resolution
Paragraph 20 c (new)
Paragraph 20 c (new)
20 c. Notes that around two thirds of the country-specific recommendations issued until 2016 have been implemented with at least 'some progress';
Amendment 369 #
2017/2114(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Takes note ofWelcomes the Commission’'s recommendation to close the Excessive Deficit Procedures for several Member States; welcomes past and ongoing fiscal and reform efforts, yet insists that these efforts will need to continue to ensure the durability of the correction of the excessive deficit;
Amendment 376 #
2017/2114(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Notes that 12 Member States are experiencing macroeconomic imbalances of varying nature and severity, while excessive imbalances exist in six Member States; takes note of the Commission's conclusion that there are currently no analytical grounds for stepping up the macroeconomic imbalance procedure for any Member State;
Amendment 395 #
2017/2114(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Considers it of great importance therefore that all Member States take the necessary policy action to address imbalances, in particular high levels of indebtedness, and commit to as well as persistent current account surpluses, and commit to socially balanced and inclusive structural reforms ensuring the economic sustainability of each individual Member State, thereby ensuring the overall competitiveness and resilience of the European economy;
Amendment 405 #
2017/2114(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25 a. Highlights the importance of national parliaments debating country reports and country-specific recommendations, as well as national reform programmes and stability programmes;
Amendment 8 #
Amendment 16 #
2017/0334(COD)
Proposal for a regulation
Recital 1
Recital 1
(1) The Structural Reform Support Programme (‘the Programme’) whas established with the objective of strengthening the capacity of Member States to prepare and implement growth- sustaining administrative and structural reforms, including through assistance for the efficient and effective use of the Union funds. Support under the Programme is provided by the Commission, upon request by a Member State, and can cover a wide range of policy areas. Developing resilient economies built on strong economic and social structures, which allow Member States to efficiently absorb shocks and swiftly recover from them, contributes to economic and social cohesion. The implementation of institutional, administrative and growth-sustaining structural reforms is an appropriate tool for achieving such a developmenteconomic and administrative reforms aimed at promoting robust and sustainable growth, quality job creation, social and territorial cohesion and convergence, competitiveness, productivity and shared prosperity, enhanced resilience to shocks, including through assistance for the efficient and effective use of the Union funds. Support under the Programme is provided by the Commission, upon request by a Member State, and can cover a wide range of policy areas in line with the national reform programmes.
Amendment 2 #
2017/0333R(APP)
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the proposal for an integration of the European Stability Mechanism (ESM) into the EU legal order; recalls that such integration must be accompanied by appropriate democratic accountability;
Amendment 4 #
2017/0333R(APP)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Recalls that the monetary policy in the Union is an exclusive competence of the ECB;
Amendment 5 #
2017/0333R(APP)
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Believes that any attempt to introduce the IMF framework into the EU legal framework should be avoided taking into account the whole institutional setting of the EU and of the Euro area,
Amendment 6 #
2017/0333R(APP)
Draft opinion
Paragraph 1 c (new)
Paragraph 1 c (new)
1 c. Asks the successor of the European Stability Mechanism to be called the European Stability Fund (ESF)
Amendment 9 #
2017/0333R(APP)
Draft opinion
Paragraph 2
Paragraph 2
2. Takes note of the proposed provisions regarding the accountability of the future European MonetarStability Fund (EMSF) to the European Parliament and the Council; notes in particular that the rules regarding the accountability of the EMF to the European Parliament mirror the already existing arrangements applicable to the Single Resolution Board (SRB), the European Central Bank (ECB) acting within the framework of the Single Supervisory Mechanism (SSM) and the European Systemic Risk Board (ESRB);
Amendment 10 #
2017/0333R(APP)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Believes that the relevant accountability framework for the future ESF should refer to the economic governance as a whole, recalls the request of this Parliament for an interinstitutional arrangement in this field,
Amendment 13 #
2017/0333R(APP)
Draft opinion
Paragraph 3
Paragraph 3
3. Requests that the European Parliament be informed immediately and in an appropriate manner of the decisions that have been taken by the EMSF and approved by the Council;
Amendment 16 #
2017/0333R(APP)
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses that complete, accurate and timely information is a prerequisite for proper accountability; insists therefore, that the highest standard of transparency be laid down in the future interinstitutional agreement between the EMSF and the European Parliament regarding the decisions of the EMSF, the background of such decisions, access to EMSF documents and the records of discussions within the EMSF;
Amendment 24 #
2017/0333R(APP)
Draft opinion
Paragraph 5
Paragraph 5
5. Understands the need for the Member States to validate decisions that have an impact on fiscal resources; stresses, however, that the EMSF is an instrument for crisis management, and should therefore be able to act swiftly; calls for the right balance to be struck between, on the one hand, ensuring democratic control of the EMSF and its accountability to the participating Member States and, on the other hand, the need to enable the requisite actions to be taken quickly, in particular by preventing an overly cumbersome decision-making process when approval has to be obtained from the Council; welcomestakes note of the provisions that ensure the transparency of the EMSF and its accountability to the national parliaments of the EMSF members and of the other participating Member States.
Amendment 146 #
2017/0224(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) A mechanism which enables Member States to cooperate and assist each other where a foreign direct investment in one Member State may affect the security or public order of other Member States should be set up. Member States should be able to provide comments to a Member State in which the investment is planned or has been completed, irrespective of whether the Member States providing comments or the Member States in which the investment is planned or has been completed maintain a screening mechanism or are screening the investment. The comments of Member States should also be forwarded to the Commission. The Commission should also have the possibility, where appropriate, to issue an opinion to the Member State in which the investment is planned or has been completed, irrespective of whether this Member State maintains a screening mechanism or is screening the investment and irrespective of whether other Member States have provided comments.
Amendment 167 #
2017/0224(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) Where the Commission considers that a foreign direct investment is likely to affect projects or programmes of Union interest on grounds of security or public order, the Commission should have the possibility to address an opinion to the Member States in which such investment is planned or completed within a reasonable timeframe. The Member States should take utmost account of the opinion and provide an explanation to the Commission if they do not follow this opinion, in compliance with their duty of sincere cooperation under Article 4(3) TEU. The Commission should also have the possibility to request from those Member States the information necessary for its screening of such investment.
Amendment 181 #
2017/0224(COD)
Proposal for a regulation
Recital 18
Recital 18
(18) To that end, it is also important to ensure a minimum level of information and coordination with regard to foreign direct investments falling under the scope of this Regulation in all Member States. This information should be made available by the Member States in which the foreign direct investment is planned or has been completed upon request of the Member States or of the Commission. Relevant information includes aspects such as the ownership structure of the foreign investor and the financing of the planned or completed investment, including, when available, information about subsides granted by third countries.
Amendment 196 #
2017/0224(COD)
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation establishes a framework for the screening by the Member States and the Commission of foreign direct investments in the Union on the grounds of security or public order and creates mechanisms of cooperation and exchange of information between Member States and the Commission.
Amendment 206 #
2017/0224(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
1. 'foreign direct investment' means investments of any kind by a foreign investor aiming to establish or to maintain lasting and direct links between the foreign investor and the entrepreneur to whom or the undertaking to which the capital is made available in order to carry on an economic activity in a Member State, including investments which enable effective participation in the management or control of a company carrying out an economic activity;
Amendment 211 #
2017/0224(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
2. 'foreign investor' means a natural person having the nationality of a third country or an undertaking of a third country intending to make or having made a foreign direct investment;
Amendment 213 #
2017/0224(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 4
Article 2 – paragraph 1 – point 4
4. 'screening mechanism' means an instrument of general application, such as a law or, a regulation or guidelines, and accompanying administrative requirements, implementing rules or guidelines, setting out the terms, conditions and procedures for the screening of foreign direct investments on grounds of security or public order;
Amendment 219 #
2017/0224(COD)
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Member States may maintain, amend or adopt mechanisms to screen foreign direct investments on the grounds of security or public order, under the conditions and in accordance with the terms set out in this Regulation, without prejudice to the other rules applicable.
Amendment 227 #
2017/0224(COD)
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
2. The Commission may screenOn the basis of the screening and information reported by the Member State, the Commission may issue opinions concerning foreign direct investments that are likely to affect projects or programmes of Union interest on the grounds of security or public order.
Amendment 252 #
2017/0224(COD)
Proposal for a regulation
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
In screening a foreign direct investment on the grounds of security or public order, Member States and the Commission may consider the potential effects on, inter alia:
Amendment 277 #
2017/0224(COD)
Proposal for a regulation
Article 4 – paragraph 1 – indent 4
Article 4 – paragraph 1 – indent 4
- access to sensitive information or the ability to control sensitive information related to the sectors, structures and technologies referred to in this Article.
Amendment 293 #
2017/0224(COD)
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
In determining whether a foreign direct investment is likely to affect security or public order, Member States and the Commission may take into account whether the foreign investor is controlled by the government of a third country, including through significant funding.
Amendment 294 #
2017/0224(COD)
Proposal for a regulation
Article 4 – paragraph 2 – subparagraph 1 (new)
Article 4 – paragraph 2 – subparagraph 1 (new)
Particular consideration must be given to whether the investor has already been involved in investment projects threatening the security or the public order of a Member State. Limitations of foreign direct investments must be proportionate to the gravity of the threat duly identified. Restrictions of the freedom of movement of capital shall be exceptional.
Amendment 305 #
2017/0224(COD)
Proposal for a regulation
Article 6 – title
Article 6 – title
Framework for Member States' screening under the Regulation
Amendment 311 #
2017/0224(COD)
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. Member States shall establish timeframes for issuing screening decisions. Such timeframes shall allow them to take into account the cComments of Member States referred to in Article 8 and the opinion of the Commission referred to in Articles 8 and 9 shall be taken into account without prejudice to national timeframes.
Amendment 344 #
2017/0224(COD)
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
1. All Member States shall inform the Commission and the other Member States concerned of any foreign direct investments that are undergoing screening within the framework of may affect the security or the public order of at least anotheir screening mechanisms, within 5 working days from the start of the screeningMember State as soon as such risk is assessed. As part of the information, and when applicable, the screening Member States shall endeavour to indicate whether it considers that the foreign direct investment undergoing screening is likely to fall within the scope of Regulation (EC) No 139/2004.
Amendment 350 #
2017/0224(COD)
Proposal for a regulation
Article 8 – paragraph 2
Article 8 – paragraph 2
2. Where a Member State considers that a foreign direct investment planned or completed in another Member State is likely to affect its security or public order, it may provide comments to the Member State where the foreign direct investment is planned or has been completed. The comments shall be forwarded to the Commission in parallel.
Amendment 362 #
2017/0224(COD)
Proposal for a regulation
Article 8 – paragraph 3
Article 8 – paragraph 3
3. Where the Commission considers that a foreign direct investmentfollowing the information transmitted by the Member State as referred to in paragraph 1 that a foreign direct investment planned in another Member State is likely to affect the security or public order inof one or more Member States, it may issue an opinion addressed to the Member State in which the foreign direct investment is planned or has been completed. The Commission may issue an opinion irrespective of whether other Member States have provided comments.
Amendment 366 #
2017/0224(COD)
Proposal for a regulation
Article 8 – paragraph 4
Article 8 – paragraph 4
4. The Commission or a Member State which duly considers that a foreign direct investment is likely to affect its security or public order may request from the Member State where the foreign direct investment is planned or has been completed, any information, any information as referred to in article 10 necessary to provide comments referred to in paragraph 2, or to issue the opinion referred to in paragraph 3, unless those information are sensitive, unreasonable, inaccessible or impossible to obtain.
Amendment 371 #
2017/0224(COD)
Proposal for a regulation
Article 8 – paragraph 5
Article 8 – paragraph 5
5. Comments pursuant to paragraphs 2 or opinions pursuant to paragraph 3 shall be addressed to the Member State where the foreign direct investment is planned or has been completed within a reasonable period of time, and in any case no later than 25 working days following receipt of the information referred to in paragraphs 1 or 4. In cases where the opinion of the Commission follows comments from other Member States, the Commission shall have 25 additional working days for issuing the opinionwithout prejudice to national timeframes.
Amendment 383 #
2017/0224(COD)
Proposal for a regulation
Article 8 – paragraph 6
Article 8 – paragraph 6
6. The Member States where the foreign direct investment is planned or has been completed shall give due consideration to the comments of the other Member States referred to in paragraph 2 and to the opinion of the Commission referred to in paragraph 3.
Amendment 395 #
2017/0224(COD)
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
1. Where the Commission considers following the information transmitted by the Member State as referred to in paragraph 1 of Article 8 that a foreign direct investment is likely to affect projects or programmes of Union interest on grounds of security or public order, ithe Commission may issue an opinion addressed to the Member State where the foreign direct investment is planned or has been completed.
Amendment 406 #
2017/0224(COD)
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The Commission may request from the Member State where the foreign direct investment is planned or has been completed any informationany information as referred to in article 10 necessary to issue the opinion referred to in paragraph 1, unless this information is sensitive, unreasonable, inaccessible or impossible to obtain.
Amendment 410 #
2017/0224(COD)
Proposal for a regulation
Article 9 – paragraph 3
Article 9 – paragraph 3
3. The Commission shall address its opinion to the Member State concerned within a reasonable period of time, and in any case no later than 25 working days following receipt of the information requested by the Commission pursuant to paragraph 2. Where a Member State has a screening mechanism in place as referred to in Artwithout prejudicle 3(1) and the information on foreign direct investment undergoing screening has been received by the Commission pursuant to Article 8(1), the opinion shall be delivered no later than 25 working days following receipt of such information. Where additional information is needed to issue an opinion, the 25-day period shall run from the date of receipt of the additional informationto national timeframes.
Amendment 421 #
2017/0224(COD)
Proposal for a regulation
Article 9 – paragraph 5
Article 9 – paragraph 5
5. The Member States where the foreign direct investment is planned or has been completed shall take utmost account of the Commission's opinion and provide an explanation to the Commission in case its opinion is not followedshall give due consideration to the Commission’s opinion.
Amendment 428 #
2017/0224(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. Member States shall ensure that the information requested by the Commission and other Member States pursuant to Articles 8(4) and 9(2) is made available to the Commission and the requesting Member States without undue delay, without prejudice to national timeframes.
Amendment 433 #
2017/0224(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point a
Article 10 – paragraph 2 – point a
(a) The ownership structure of the foreign investor and of the undertaking in which the foreign direct investment is planned or has been completed, including information on the ultimate controlling shareholder or shareholders;
Amendment 437 #
2017/0224(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point c
Article 10 – paragraph 2 – point c
(c) The products, services and business operations of the foreign investor and of the undertaking in which the foreign direct investment is planned or has been completed ;
Amendment 439 #
2017/0224(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point d
Article 10 – paragraph 2 – point d
(d) The Member States in which the foreign investor and the undertaking in which the foreign direct investment is planned or has been completed conduct business operations;
Amendment 461 #
2017/0224(COD)
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
This Regulation shall enter into force on the twentieth daysix months following the date of its publication in the Official Journal of the European Union.
Amendment 3 #
2016/2306(INI)
Motion for a resolution
Citation 12 a (new)
Citation 12 a (new)
- having regard to the European Council conclusions of 17-18 March 2016,
Amendment 6 #
2016/2306(INI)
Motion for a resolution
Citation 15 a (new)
Citation 15 a (new)
- having regard to the Communication of the Commission of 16 November 2016 on the recommendation for a Council Recommendation on the economic policy of the euro area (COM(2016) 726),
Amendment 10 #
2016/2306(INI)
Motion for a resolution
Citation 21
Citation 21
Amendment 11 #
2016/2306(INI)
Motion for a resolution
Citation 21 a (new)
Citation 21 a (new)
- having regard to the COP 21 agreement adopted at the Paris Climate Conference on 12 December 2015,
Amendment 13 #
2016/2306(INI)
Motion for a resolution
Citation 23 a (new)
Citation 23 a (new)
- having regard to the resolution of the European Committee of the Regions on the 2016 European Semester and in view of the 2017 Annual Growth Survey (12 October 2016),
Amendment 20 #
2016/2306(INI)
A. whereas the European Union’s economy is slowly recovering andbut growing at a moderate paceth remains weak and uneven between Member States;
Amendment 26 #
2016/2306(INI)
Motion for a resolution
Recital B
Recital B
B. whereas real GDP growth in 2016 is projected by the European Commission at 1.8 % for the EU and at 1.7 % for the euro area, and in 2017 at 1.6 % and 1.7 %, respectively;
Amendment 27 #
2016/2306(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. Whereas government debt is set to decrease to stand at 86,0% in the EU and 91,6% in the euro area in 2016;
Amendment 29 #
2016/2306(INI)
Motion for a resolution
Recital B b (new)
Recital B b (new)
Bb. whereas euro area deficit is set to decrease to stand at 1.7% GDP in 2016, 1.5% in 2017 and 2018;
Amendment 30 #
2016/2306(INI)
Motion for a resolution
Recital B c (new)
Recital B c (new)
Bc. whereas the euro area's macroeconomic current account surplus continues to rise, standing at 4% of euro area GDP in 20016 while Europe still faces an important 'investment gap' where investment remains below pre-crisis levels, deepening Member State's economic divergence;
Amendment 31 #
2016/2306(INI)
Motion for a resolution
Recital B d (new)
Recital B d (new)
Bd. whereas aggregate demand in euro area is sluggish and inflation remains below target;
Amendment 32 #
2016/2306(INI)
Motion for a resolution
Recital B e (new)
Recital B e (new)
Be. whereas global economic growth is still fragile and the European economy is expected to be affected by rising uncertainty and political instability;
Amendment 37 #
2016/2306(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the employment rate is growing steadily, although at an insufficient pace, reducing unemployment in the euro area to 10.1 % in 2016, but not enough to significantly curb youth and long-term unemployment;
Amendment 47 #
2016/2306(INI)
Motion for a resolution
Recital D
Recital D
D. whereas this slow recovery in the labour markets, and in growth, is uneven among the Member States, benefitting those that have implemented structural reformsreinforcing the need to promote convergence in the EU and especially in the euro area;
Amendment 60 #
2016/2306(INI)
Motion for a resolution
Recital E
Recital E
E. whereas growth has to an important degree relied upon unconventional and, in the long term, unsustainable monetary policiesmonetary policies, which cannot last forever; whereas this supports the call for a three-pronged policy approach of growth- friendly investment, a full and consistent implementation of the Stability and Growth pact across Member States, and a particular focus on structural reformpublic and private investment, structural reforms and responsible public finances;
Amendment 71 #
2016/2306(INI)
Motion for a resolution
Recital F
Recital F
F. whereas some Member States still carry a very high sovereignpublic and private debt;
Amendment 80 #
2016/2306(INI)
G. whereas the EU requires important investment efforts in order to materialise its growth potential and enhance convergence, and targeted public and private investment, particularly in infrastructure projects, is needed to close the current 'investment gap';
Amendment 97 #
2016/2306(INI)
Motion for a resolution
Recital H
Recital H
H. whereas the EU’s insufficient level of global competitiveness and productivity calls for structural reformsintelligent and progressive structural reforms both at the European level and in the Member States in order to bring about sustained growth;
Amendment 115 #
2016/2306(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Commission’s Annual Growth Survey 2017 reaffirming the strategy of a virtuous triangle of investment, structural reforms and responsible public finances; agrees that faster progress on the adoption of reforms, in line withpublic and private investment, socially balanced structural reforms and responsible public finances, in order to support and step up the ecountry-specific recommendations, is needed to deliver on growth and jobsnomic recovery;
Amendment 118 #
2016/2306(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Supports the Commission's statement that its number one priority is boosting jobs, growth and investment for the Union; agrees with the Commission's view that Europe needs to strengthen its economic recovery and to invest strongly in its youth and jobseekers, as well as in its start-ups and SMEs;
Amendment 120 #
2016/2306(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Agrees with the Commission that the continuation of the expansion in the euro area would need to rely increasingly on domestic demand; considers that stronger domestic demand would be better for the euro area's sustainable growth, as well as from a global viewpoint; urges Member States with higher current account surpluses to expand their domestic demand for their own and general benefit; at the same time calls on less competitive Member States to implement structural reforms and high- quality investments in order to modernise their economies and establish a sustainable business environment for long-term investment in line with the Europe 2020 Strategy; considers this to be the best way to reduce macroeconomic imbalances inside Member States rather than internal devaluation, which weakens demand, slows down economic growth and fosters divergence across the euro area;
Amendment 121 #
2016/2306(INI)
Motion for a resolution
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Notes that monetary policy alone is insufficient to stimulate growth when investments and sustainable structural reforms are lacking; agrees with the Commission that all policy tools - monetary, fiscal and structural - need to be used individually and collectively to strengthen job creation, growth, investment and financial stability; notes that reaching the right policy mix for the euro area is less straightforward in the absence of a centralised budget; stresses that the current economic situation, which combines liquidity surplus with interest rates at the zero lower bound (ZLB), weak demand prospects, and restricted investment and spending by households and companies, requires the implementation of the policy mix put forward by the Commission in order to create growth; welcomes the fact that the Commission has answered the persistent calls of the ECB and others for a fiscal policy more aligned with the currently accommodative monetary stance and calls on the Council to also endorse such view;
Amendment 122 #
2016/2306(INI)
Motion for a resolution
Paragraph 1 d (new)
Paragraph 1 d (new)
1d. Welcomes the Commission's recommendation for a positive fiscal stance in 2017, to be achieved through a moderate fiscal expansion of up to 0.5% GDP;
Amendment 123 #
2016/2306(INI)
Motion for a resolution
Paragraph 1 e (new)
Paragraph 1 e (new)
1e. Deems it important that Member States with fiscal space increase domestic demand and investment, while all Member States shift the composition of public spending towards a more growth- friendly direction;
Amendment 125 #
2016/2306(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that growth in 2016 is continuing at a positive moderate pace, surpassing the pre-crisis level; believes, however, but remains weak and uneven between Member States; notes with concern that GDP and productivity growth rates remain below full potential and investment levels remain below pre- crisis levels; stresses that unused capacity in labour and capital is still significant and the overall level of uncertainty is high; agrees, therefore, that there is no time for complacency, and that this moderate recovery requires relentless efforts if it is to achieve greater resilience;
Amendment 133 #
2016/2306(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Deplores the fact that the asymmetric nature of the rebalancing in the euro area has continued, with only debtor countries correcting their imbalances, and is resulting in an increased current account surplus; considers there is an urgent need to tackle the significant imbalances that persist within the euro area and the EU more generally, namely the fact that in many cases convergence among and within the Member States is stalled; notes that the high current account surpluses imply the possibility of greater domestic demand;
Amendment 138 #
2016/2306(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Finds that while unemployment is, on average, gradually decreasing, and that activity rates are growing, structural deficiencichallenges persist in somemany Member States; notes however that the rates of long-term and youth unemployment remain high; calls for more efforts to promote quality employment and reduce poverty, social exclusion and inequalities;
Amendment 148 #
2016/2306(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Stresses that the investment rate in the EU and euro area is still far below pre-crisis levels, undermining the recovery of the European economy; believes this 'investment gap' needs to be filled in using both public and private levers; underlines that only targeted public and private investment, particularly in infrastructure projects, can bring about visible results in a short timeframe and at an appropriate scale;
Amendment 149 #
2016/2306(INI)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Agrees with the Commission that the low funding cost environment makes it an ideal time for the Member States to frontload public investments; suggests that, under the present circumstances, such frontloading of public investments, particularly in infrastructure projects, should be excluded from the calculation of national headline and structural deficit targets;
Amendment 150 #
2016/2306(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Agrees with the Commission that access to finance is crucial for businesses to grow; invites all relevant European institutions and bodies to step up their work on the completion of the Banking Union, including the setting-up of a common European Deposit Insurance Scheme together with a sound and robust backstop, and on the creation of a full- fledged Capital Markets Union; stresses that new capital and liquidity requirements, albeit necessary to enhance the resilience of the banking sector, should not undermine banks' ability to lend to the real economy; believes more efforts should be done to boost SME access to finance;
Amendment 171 #
2016/2306(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Notes that the financial system and its institutions are crucial for investment and growth in the European economy; stresses that the current financial system is characterised by increased safety and stability, although some outstanding issues remain unaddressed, such as the stock of nonperforming loans (NPLs) accumulated during the financial crisis;
Amendment 210 #
2016/2306(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Stresses that a step-by-stepEncourages a swift and thorough completion of the Banking Union, which shall aim at increasing resilience in the banking sector and contributing to financial stability;
Amendment 213 #
2016/2306(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Welcomes the Commission's proposal to extend the duration and double the amount of the European Fund for Strategic Investments (EFSI); stresses that geographical and sectorial coverage must be significantly improved in order to strengthen cohesion and convergence, as well as to achieve a more impactful macroeconomic effect; considers that guarantees to the EFSI are a particularly effective way for Member States with fiscal space to deliver on their commitments to support the recovery in the euro area; stresses the importance of better coordination between Member States, the Commission and the European Investment Advisory Hub;
Amendment 214 #
2016/2306(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Calls on Member States and the Commission to speed up and maximize the use of European Structural and Investment Funds (ESIF) in order to take advantage of all internal growth drivers, targeting public investment to projects with significant macroeconomic impact that can boost innovation, productivity, competitiveness, as well as social inclusion with a view to promoting upward convergence between Member States;
Amendment 215 #
2016/2306(INI)
Motion for a resolution
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Stresses that public investments on human capital and social infrastructure are of the utmost importance; considers that Europe's long economic crisis has highlighted the strong need to facilitate public and private investment in areas such as education, innovation and research and development, which are crucial factors for a more competitive European economy; underlines the crucial role of public spending on education and life-long learning, as well as the development of long-term care facilities and affordable and flexible childcare facilities;
Amendment 216 #
2016/2306(INI)
Motion for a resolution
Paragraph 7 d (new)
Paragraph 7 d (new)
7d. Highlights that public and private investment is crucial to allow for the transition towards a low-carbon and circular economy; recalls the commitments of the European Union, particularly in the Paris Agreement, to finance the deployment of clean technologies, the scaling-up of renewable energies and energy efficiency, and the overall reduction of greenhouse gas emissions;
Amendment 219 #
2016/2306(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Emphasises that reliable investment requires a regulatory environment that allows for a return on investment; considers that predictable rules, a level playing field and reducedappropriate compliance costs are crucial factors for attracting investment; stresses that 40% of the country-specific recommendations for 2016 address obstacles to investment which the local and regional authorities can help to remove;
Amendment 239 #
2016/2306(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Agrees with the Commission that the benefits of trade are often larger than realised in the public debate, and stresses that international trade iscan be a significant source of jobs for Europeans and a crucial precondicontribution for growth; reiterates that more than 30 million jobs are now supported by exports from the EU; notes that international trade agreements should uphold strong social and environmental standards, taking into consideration environmental impacts, stakeholders' views and civil society concerns;
Amendment 257 #
2016/2306(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
Amendment 261 #
2016/2306(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Agrees that socially balanced structural reforms in product, services and inclusive labour markets policies remain a priority in the Member States in order to boost competitiveness and enhance fair competition without watering down worker's rights, consumer protection or environmental standards;
Amendment 276 #
2016/2306(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 302 #
2016/2306(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Is concerned about the effects of demographic developments on sustainable growth and public finances, conditioned by, inter alia, low birth rates, ageing societies and the influx of refugees; points in particular to the impact of ageing populations on pension and healthcare systems in the EU; notes that, owing to different demographic structures, the effects of these developments will vary across Member States, but warns that the already foreseeable fund; considers that migration could play a role ing costs will have a significant impact on public deficits; highlights the fact that current consolidation paths will not be sufficient to ensure compliance with EU fiscal rules if pension systems are not reformed or current reforms are reversed or not impensating for the negative effects of the ageing population, depending on the ability to better use migrants' skills and to adapt migration management systems to labour market needs; recalls that, besides reforms, an important factor for ensuring the sustainability of pension systems is to achieve and maintain a high empleoyment rated;
Amendment 308 #
2016/2306(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Considers it vital to fight precariousness and the segmentation of the labour market, as well as to increase female labour market participation, close gender pay gaps, improve the work-life balance of men and women, promote the inclusion of disadvantaged groups and prevent discrimination, namely of persons with a migrant background;
Amendment 315 #
2016/2306(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the fact that, on average, youth unemployment is declining; notes, however,, although it is still very high; notes that there remain stark differences across the Member States that call for continued reforms to facilitate the entry of young people into the labour market; emphasises, in this regard, the importance of the Youth Guarantee and calls for continued EU funding to this crucial programme; agrees with the Commission that more action is needed from the Member States to fight youth unemployment, particularly in pursuing the roll-out of the Youth Guarantee and enhancing its effectiveness;
Amendment 329 #
2016/2306(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses the importance of wage developments in line withsocial dialogue and the irreplaceable role of social partners in wage-setting; stresses the need for growth-friendly wage developments that take account of productivity gains;
Amendment 334 #
2016/2306(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15 a. Agrees with the Commission that improving the adequacy and coverage of income support schemes (unemployment benefits; social assistance including minimum income; pensions) is crucial to prevent social exclusion and, in the case of unemployment benefits, can increase both macroeconomic stability and labour market attachment whilst reducing precariousness;
Amendment 339 #
2016/2306(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. AgreNotes that high taxation is a hindrance toshould not hinder investments and jobs creation; calls for reforms in taxation with a view to tackling the high tax burden on labour in Europeimproving tax collection, preventing tax avoidance, tax evasion and aggressive tax planning, as well as tackling the high tax burden on labour in Europe while ensuring the sustainability of social protection systems; highlights the importance of using progressive tax rates to attain the redistributive effects of tax reforms;
Amendment 349 #
2016/2306(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Calls for measures preventing a race to the bottom in terms of taxation and social standards, which leads to an increase in inequalities; recalls the need to maintain international competitiveness based on productivity and upward convergence;
Amendment 355 #
2016/2306(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Highlights the importance of greater efficiency in the use of natural resources and energy, including through the development of the circular economy; underlines the importance of developing further a true Energy Union based on solidarity, efficiency and diversity while promoting indigenous energy sources, including renewable energy;
Amendment 361 #
2016/2306(INI)
Motion for a resolution
Paragraph 16 c (new)
Paragraph 16 c (new)
16 c. Agrees with the Commission that fiscal sustainability remains a priority, although challenges have receded significantly since the peak of the crisis, and may not be a major source of risks for the euro area as a whole in the short term;
Amendment 364 #
2016/2306(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Underlines the fact that all Member States are obliged to comply with the Stability and Growth Pactat the Stability and Growth Pact should be duly implemented while making full use of the appropriate flexibility, inter alia to support greater investment and structural reforms, as well as to deal with security threats, refugee inflows and natural disasters; points, in this regard, also to the importance of the Treaty on Stability, Coordination and Governance (TSCG), and urges the Commission to submit a report on the implementation of the TSCG in the Member Stateswhich should be reviewed on the basis of an assessment of the experience with its implementation, and urges the Commission to submit a report on the issue;
Amendment 372 #
2016/2306(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Notes that six Member States continue to be under the Excessive Deficit Pe consistent decrease of the average public deficit level, which is expected to stand below 2% in 2016 and will continue to reduce in the upcoming years, allowing several Member States to exit the Excessive Deficit Procedure; Notes, however, that six Member States continue to be under the Excessive Deficit Procedure, but underlines that, according to the Commission forecast, in 2017 only one Member State will remain under such procedure;
Amendment 375 #
2016/2306(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Notes that the levels of government debt have stabilised and are expected to decrease; agrees with the Commission that, in most cases, the large increase of debt in the recent past was the result of bank recapitalisation and low growth in nominal GDP, not of fiscal profligacy; points out that sustained growth is crucial to reducing debt/GDP ratios;
Amendment 377 #
2016/2306(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
Amendment 389 #
2016/2306(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 410 #
2016/2306(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Welcomes the consistent improvement of public finances over the recent years; Notes with concern that, following the assessment of the 2017 Draft Budgetary Plans, eight Member States are considered to be at risk of non-compliance, with some significantly deviating from the required adjustment path and unlikely to be able to contain the risks unless they deliver on the necessary fiscal measures;
Amendment 416 #
2016/2306(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. WelcomNotes the reduction in average public deficits, but agrees that aggregate pictures hide significant disparities across the Member States; considers this and other asymmetries are detrimental to the proper functioning of the Euro, which illustrates the need to promote and support real convergence especially between euro area Member States;
Amendment 422 #
2016/2306(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Notes with concern that, as the Commission recognises, a full delivery of the fiscal requirements contained in the country-specific recommendations of the Council would lead, on aggregate, to a modestly restrictive fiscal stance for the euro area as a whole in 2017 and 2018, while the economic situation would seem to call for an expansionary fiscal stance in the present circumstances;
Amendment 425 #
Amendment 428 #
2016/2306(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Takes noteWelcomes the Commission's recommendation for a Council recommendation ofn the Commission’seconomic policy of the euro area and the accompanying communication on a positive fiscal stance; questions the usefulness of an for the euro area; aggregate target, given the lack of significant spill- overes that, at this point in time, given the need to support the on- going recovery, more effecorts of domestic demand between Member States; recalls that the Member States must comply with the Stability and Growth Pact, regardless of aggregate recommendationsare needed to bring about a positive fiscal stance for the euro area as a whole, complementing the monetary policy of the ECB; praises the Commission for its recommendation of a moderate fiscal expansion in 2017; questions whether an aggregate fiscal expansion of up to 0.5% GDP is sufficient to attain the goals of bolstering recovery, closing the 'investment gap' and promoting growth;
Amendment 442 #
2016/2306(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Calls on the Council to adopt the recommendation for a positive fiscal stance for the euro area in 2017 and encourages Member States to take the necessary steps in order to attain such goal;
Amendment 443 #
2016/2306(INI)
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23 b. Deplores that, contrary to other unified currency areas across the world, the EU's current fiscal framework contains no rules or instruments to directly manage the aggregate fiscal stance of the euro area; points out that a macroeconomic governance framework in which rules can proscribe high deficits but can only prescribe the reduction of budgetary surpluses, without imposing it, is patently asymmetrical, unbalanced and incomplete;
Amendment 449 #
2016/2306(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Takes the view that improving the structure of public budgets is a key leverone of the levers to maximise growth, to ensure compliance with EU fiscal rules and to allow for the financing of indispensable expenditure, the building of buffers for unforeseen needs and, lastly, the financing of non-essential spending; recalls that the composition of national budgets is decided at national level taking into account country-specific recommendations; incentivizes all Member States to step up their efforts towards achieving a more growth-friendly composition of fiscal policies;
Amendment 459 #
2016/2306(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Welcomes the ongoing review of public spending, and encourages the Member States critically to assess the quality of their budgets; points out that such a review cannot replace urgent fiscal consolidation needsupports rational and country-specific efforts towards improving the quality, efficiency and growth-friendly character of public expenditure, especially by shifting unproductive expenses towards growth- enhancing investments, but without jeopardizing essential provision of public and social services;
Amendment 467 #
2016/2306(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25 a. Believes the EU budget could help relieve the strain on national budgets by collecting own resources instead of relying extensively on national contributions; stresses that greater integration within the euro area is indispensable and that the creation of a budgetary capacity to absorb economic shocks, mitigate asymmetries and foster convergence is a key element in the completion of the EMU;
Amendment 476 #
2016/2306(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Highlights the importance of national parliaments debating country reports and country-specific recommendations, as well as national reform programmes and stability programmes;
Amendment 482 #
2016/2306(INI)
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26 a. Calls on the Member States to involve the social partners, local and regional authorities and other relevant stakeholders in a structured manner;
Amendment 489 #
2016/2306(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Believes that better implementation of country-specific recommendations requires clearly articulated priorities at European level and genuine public debate at national, regional and local levels, leading to greater ownership;
Amendment 492 #
2016/2306(INI)
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27 a. Stresses that more than half of the 2016 country-specific recommendations address challenges the impact of which is unevenly felt within Member States or which should be addressed at sub- national level, and that, therefore, local and regional authorities should be permanently involved in the design and implementation of the national reform programmes; confirms its endorsement to the proposal of the European Committee of the Regions of a code of conduct to involve the local and regional authorities in the European Semester;
Amendment 493 #
2016/2306(INI)
Motion for a resolution
Paragraph 27 b (new)
Paragraph 27 b (new)
27 b. Urges the Commission to launch negotiations on an interinstitutional agreement on economic governance; insists that this IIA should ensure that, within the framework of the Treaties, the structure of the European Semester allows for meaningful and regular parliamentary scrutiny of the process, in particular as regards the Annual Growth Survey priorities and the euro area recommendations;
Amendment 174 #
2016/2101(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the Commission’s recommendation for three Member States to exit the Excessive Deficit Procedure (EDP); agrees with the Commission that large and consistent current account surpluses reflect a clear need to stimulate demand and investment in order to cope with the challenges of the future regarding transport and communications, the digital economy, education and research, climate change, energy, environmental protection and the ageing population; calls on the Commission to continue to supportactively support and foster budgetary policies that underpin growth and recovery in all Member States, namely by putting more emphasis on investment and efficient public expenditure, and support sustainable structural reforms;
Amendment 3 #
2016/2053(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Calls for an effective post-Cotonou framework adapted to global challenges, based on ownership by the African, Caribbean and Pacific (ACP) countries and in line with the Sustainable Development Goals; highlights that the post-Cotonou framework must be defined in close cooperation with ACP states, including civil society, and drawn on the lessons learnt from the Cotonou Partnership Agreement; stresses that a revised general framework agreement, with legal binding value, together with the regional Economic Partnership Agreements (EPAs) and other trade instruments, namely the "Everything But Arms", must support fair and sustainable trade and, ultimately, sustainable development and poverty reduction;
Amendment 19 #
2016/2053(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. SNotes that trade is one of the three pillars of the Cotonou agreement and stresses that the post-Cotonou process should offer a framework within which to discuss trade issues of common concern with all the ACP countries; calls for a post-Cotonou Agreement as a political umbrella agreement under which binding minimum requirements for the EPAs are set, including structured civil society monitoring mechanisms; calls for a strengthening of trade cooperation, but with a values-driven approach and improved Policy Coherence for Development; believes that inclusive growth, job creation, the development of the private sector and regional integration must b as proposed in the "Trade for All" Communication; calls for a post- Cotonou framework that takes into consideration the gender dimension of trade; believes that inclusive growth, job creation, the development of the private sector, sustainable agricultural development, regional integration, the diversification of industries and the promotion of infant industries are central in a future economic partnership;
Amendment 33 #
2016/2053(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Calls for strong, legally binding sustainable development provisions; asks for theStresses that the post-Cotonou framework must promote sustainable development, human rights and good governance, including by tackling corruption and illicit financial flows; calls for strong, legally binding sustainable development provisions, and a proper framework for corporate social responsibility; asks, in particular, for human rights 'essential elements' clause to remain in the future agreement, so that the linkage clauses in the EPAs - especially the non-execution clauses - continue to function after 2020;
Amendment 56 #
2016/2053(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Recalls the Financing for Development commitments; calls for of the Addis Ababa Action Agenda; notes the importance of trade capacity building as industrialisation and diversification of ACP economies remains limited; asks the EU to ensure more and effective funding for Aid for Trade and trade-related matters in order to support the ACP countries’' efforts to move up the global value chain. implement the WTO Trade Facilitation Agreement and to move up the global and regional value chains, while financial aid has to be intertwined with concrete cooperative projects directed at improving infrastructure, educational and social systems in the ACP countries.
Amendment 7 #
2016/2031(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the Customs Union has shown that it clearly fails to meet the requirements of trade relations between the parties and has not been implemented effectively;
Amendment 13 #
2016/2031(INI)
Motion for a resolution
Recital C
Recital C
C. whereas Turkey has been implementing an ever increasing number of tariff and non-tariff barriers over time; in breach of the provisions of the Customs Union and to the detriment of European companies;
Amendment 23 #
2016/2031(INI)
Motion for a resolution
Recital D
Recital D
D. whereas sectors that are currently excluded from the customs union, such as agriculture, services and public procurement, are importantcould offer new opportunities for both parties;
Amendment 67 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point a – point iii
Paragraph 1 – point a – point iii
(iii) with a view to the start of the negotiations, the economic, social, political and legal conditions under which they are to take place and which, in any case, will determine the effects of those negotiations on citizens' lives, should be specifically and carefully considered; to this aim, the results of the public consultation and of the impact assessment should be duly taken into account; similarly, the findings of the Sustainability Impact Assessment - resulting from several consultations with civil society, social partners, NGOs and all relevant stakeholders - will have to effectively feed into the negotiations, notably regarding flanking measures identified to compensate possible negative impacts;
Amendment 71 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point a – point iv
Paragraph 1 – point a – point iv
(iv) the current structure of the Ankara agreement should be considered inadequate in terms of the evolution of the EU’s trade policy, in that: (a) it does not consider specific issues such as sustainable development, protection of social rights and labour, child labour, gender equality, protection of food safety and health, SMEs or the protection of foreign investmentsand environmental standards, to which specific chapters and provisions should be dedicated; (b) it does not take account of the specific role of the European Parliament and of the national parliaments; (c) the provisions concerning the settlement of disputes reflect the political nature of the agreement and have made the mechanism de facto ineffective;
Amendment 82 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point a – point vi
Paragraph 1 – point a – point vi
(vi) the entire negotiating process should be based on the principles of transparency and full access to the proceedings allowing adequate monitoring from the European Parliament; calls on the Council to publish the negotiating mandate as soon as possible;
Amendment 93 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point b – point i
Paragraph 1 – point b – point i
(i) a prerequisite for the modernisation of the Customs Union is that Turkey should refrain from adopting any protectionist or restrictive measures, such as the unilateral imposition of customs duties and non-tariff barriers on goods produced in the EU, including goods released for free circulation coming from third countries, or government policies to reduce imports;
Amendment 99 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point b – point iii
Paragraph 1 – point b – point iii
(iii) the fight against counterfeiting, piracy, the trade in wild animals and food fraud are importantfundamental aspects of the Customs Union to safeguard consumers and companies;
Amendment 103 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point b – point iv
Paragraph 1 – point b – point iv
(iv) the harmonisation of customs systems is vital for the development of trade between the EU and Turkey; to that end, the Commission should strengthen customs cooperation and the exchange of information between the Member States and Turkey; in this respect the European Parliament welcomes the swift ratification by both parties of the WTO Agreement on Trade Facilitation that has entered into force on the 22nd of February 2017 and will allow standardisation and simplification of trade-related procedures at the multilateral level;
Amendment 110 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point b – point v
Paragraph 1 – point b – point v
(v) it is important to introduce an effective dispute settlement mechanism that is able to operate within a framework of impartiality and legal certainty in keeping with the rules and practice of the WTO;
Amendment 115 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point b – point vi
Paragraph 1 – point b – point vi
(vi) in order to enable Turkey to become more involved in the decision- making process related to the EU's trade policy, and provided there is significant progress in terms of convergence and legislative harmonisation, where appropriate, it would be helpful to allow Turkey access as an observer in technical meetings and working committees;
Amendment 120 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point b – point vii
Paragraph 1 – point b – point vii
(vii) in relation to the negotiation of trade agreements between the EU and third countries in which Turkey does not participate, methods of involvement that respect the sovereignty and negotiating independence of the EU need to be considered as well as the means to foster the parallel conclusion of trade agreements between Turkey and such third countries;
Amendment 135 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point c – point ii
Paragraph 1 – point c – point ii
(ii) the liberalisation of the sectors that are not currently included in the Customs Union should take place in a progressive and binding manner, by measuring its impact on businesses, particularly SMEs, workers, consumers and the environment. To that end, parliamentary institutions, both at EU level and nationally, can play an active role in liaising and holding talks with stakeholders and civil society;
Amendment 139 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point c – point iii
Paragraph 1 – point c – point iii
(iii) negotiations shouldmust focus on the active promotion of decent work for all and the effective fight against national practices which seek to undermine the social and environmental substance of work for the purpose of promoting domestic production and attracting foreign investment by means of a specific chapter on sustainable development that includes binding provisions and a sanctions based mechanism;
Amendment 148 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point c – point iv
Paragraph 1 – point c – point iv
(iv) the liberalisation of agricultural products should be conditional upon reform of Turkish legislation on grants and export subsidies in order to avoid distortionary effects on the CAP systemagri-food markets. Special consideration should be given to the impact on small-scale farmers regarding those categories of product that are vulnerable to competition;
Amendment 157 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point c – point vi
Paragraph 1 – point c – point vi
(vi) owing to its importance and impact, the services sector should be liberalised preferably on the basis of a positive list approach and of stringent transparency criteria, full reciprocity, non-discrimination and legislative harmonisation, with the exclusion in the negotiating mandate of audiovisual services and services of general economic interest;
Amendment 167 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point c – point vii
Paragraph 1 – point c – point vii
(vii) in areas such as the digital economy, telecommunications, postal services and financial services, great attention shouldhas to be paid to aspects relating to data protection; in the transport sector, the current quota system should be maintained;
Amendment 174 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point c – point viii a (new)
Paragraph 1 – point c – point viii a (new)
(viiia) being the European public procurement market largely open, negotiations should aim at obtaining full reciprocity at all levels of government, restoring thus a level playing field, and further alignment and approximation of Turkish legislation to the acquis communautaire in that sector;
Amendment 175 #
2016/2031(INI)
Motion for a resolution
Paragraph 1 – point c – point viii b (new)
Paragraph 1 – point c – point viii b (new)
(viii b) on rules, it will be important to negotiate specific provisions for SMEs, binding and enforceable provisions on sustainable development and a proper protection of European GIs;
Amendment 411 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 32
Article 1 – paragraph 1 – point 32
(a) the institution meets the combined buffer requirement defined in Article 128(6) andwhen considered in addition to each of the requirements referred to in points (a), (b) and (c) of paragraph 1;
Amendment 413 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 32
Article 1 – paragraph 1 – point 32
Directive 2013/36/EU
Article 141a – paragraph 2 – point b
Article 141a – paragraph 2 – point b
(b) the failure to meet the combined buffer requirement defined in Article 128(6) when considered in addition to the requirements referred to in point (d) of paragraph 1 is exclusively due to the inability of the institution to replacissue liabilities that no longer meet the eligibility or maturity criteria laid down in Articles 72b and 72c of Regulation (EU) No 575/2013 or to replace liabilities that no longer meet said eligibility or maturity criteria;
Amendment 416 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 32
Article 1 – paragraph 1 – point 32
Directive 2013/36/EU
Article 141a – paragraph 2 – point c
Article 141a – paragraph 2 – point c
Amendment 419 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 32
Article 1 – paragraph 1 – point 32
2 a. The institution shall report without delay to the resolution authority and the competent authority where it considers that the conditions referred to in paragraph 2 are met.
Amendment 420 #
2016/0364(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 32 (new)
Article 1 – paragraph 1 – point 32 (new)
Directive 2013/36/EU
Article 141a – paragraph 2 b (new)
Article 141a – paragraph 2 b (new)
2 b. After the conditions referred to in paragraph 2 are met for more than 12 months, the competent authority may at any time, on the basis of the circumstances that have led to the inability of the institution to issue liabilities that meet the eligibility or maturity criteria laid down in Articles 72b and 72c of Regulation (EU) No 575/2013 or to replace liabilities that no longer meet said eligibility or maturity criteria and of the measures proposed by the institution referred to in Article 17(3) of Directive 2014/59/EU, after consulting the resolution authority, determine that the institution shall be considered as failing to meet the combined buffer requirement for the purposes of Article 141.
Amendment 43 #
2016/0363(COD)
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) In order to avoid shortfalls and to ensure a level playing field among banks, it is necessary to provide for a grandfathering of the eligibility of those instruments issued prior to the eligibility criteria coming into effect.
Amendment 55 #
2016/0363(COD)
Proposal for a directive
Recital 10
Recital 10
(10) To ensure that the new 'non- preferred' senior class of debt instruments meet the eligibility criteria of Regulation (EU) No 575/2013 and of Directive 2014/59/EU, Member States should ensure that their initioriginal contractual maturity spansis of at least one year, that they have no derivative features, and that the relevant contractual documentation related to their issuance explicitly refers to their ranking under normal insolvency proceedings.
Amendment 65 #
2016/0363(COD)
Proposal for a directive
Article -1 (new)
Article -1 (new)
Article -1 Scope 1. This Directive harmonises the ranking under normal insolvency proceedings of unsecured claims resulting from debt instruments. 2. This Directive does not cover the insolvency ranking of deposits beyond the existing applicable provisions of Directive 2014/59/EU and is without prejudice to national laws of Member States governing normal insolvency proceedings that cover the insolvency ranking of deposits not harmonised by Directive 2014/59/EU.
Amendment 93 #
2016/0363(COD)
Proposal for a directive
Article 1 – paragraph 2
Article 1 – paragraph 2
Directive 2014/59/EU
Article 108 – paragraph 4 b (new)
Article 108 – paragraph 4 b (new)
4b. Member States which prior to ... [date of entry into force of this Directive] have adopted a national law governing the ranking in normal insolvency proceedings of unsecured claims resulting from debt instruments issued after the date of application of such national law, may provide that those debt instruments that comply with the conditions set in points (a), (b) and (c) of paragraphs 2 and in paragraph 3 have the same insolvency ranking as the 'non-preferred' senior debt instruments issued under the conditions of this Directive.
Amendment 95 #
2016/0363(COD)
Proposal for a directive
Article 1 – paragraph 2
Article 1 – paragraph 2
Directive 2014/59/EU
Article 108 – paragraph 4 a (new)
Article 108 – paragraph 4 a (new)
4a. Paragraph 4 shall not prevent Member States from adopting national laws governing the ranking of deposits in normal insolvency procedures, regardless of the date in which they were made and of their current position in the ranking in normal insolvency procedures.
Amendment 97 #
2016/0363(COD)
Proposal for a directive
Article 2 – paragraph 1 – subparagraph 1
Article 2 – paragraph 1 – subparagraph 1
Member States shall adopt and publish by [June 2017]bring into force the laws, regulations and administrative provisions necessary to comply with this Directive by ... ... [12 months from the date of entry into force of this Directive]. They shall communicate the text of those measures to the Commission forthwith.
Amendment 99 #
2016/0363(COD)
Proposal for a directive
Article 2 – paragraph 1 – subparagraph 2
Article 2 – paragraph 1 – subparagraph 2
Member States shall apply those measures from [July 2017at the date of their entry into force in the national law that shall occur no later than on ... [12 month from the date of entry into force of this Directive].
Amendment 74 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 4
Article 1 – paragraph 4
Directive 2014/59/EU
Article 2 – paragraph 1 – point 83b
Article 2 – paragraph 1 – point 83b
(83b) 'resolution group' means: (a) a resolution entity and its subsidiaries that are not: (i) resolution entities themselves and that are not subsidiaries of another; (ii) subsidiaries of other resolution entities; or (iii) entities established in a third country that are not included in the resolution group in accordance with the resolution plan and their subsidiaries; (b) credit institutions affiliated to a central body, the central body and any institution under the control of the central body when at least one of those entities is a resolution entity;.
Amendment 109 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 13
Article 1 – paragraph 13
Directive 2014/59/EU
Article 17 – paragraph 3 – subparagraph 2
Article 17 – paragraph 3 – subparagraph 2
Where a substantive impediment to resolvability is due to a situation referred to in Article 141a(2) of Directive 2013/36/EU the institution shall, within two weeks of the date of receipt of a notification made in accordance with paragraph 1, propose to the resolution authority possible measures to ensure that the institution complies with Articles 45f or 45g and the requirement referred to in Article 128(6) of Directive 2013/36/EU. The two week deadline may be extended by the resolution authority, in consultation with the competent authority, taking into account the specific circumstances of the case.
Amendment 120 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 17
Article 1 – paragraph 17
Directive 2014/59/EU
Article 18 – paragraph 3 – subparagraph 2
Article 18 – paragraph 3 – subparagraph 2
Where those impediments are due to a situation referred to in Article 141a(2) of Directive 2013/36/EU, the Union parent undertaking shall, within two weeks of the date of receipt of a notification made in accordance with paragraph 2, propose to the group-level resolution authority possible measures to address or remove those impediments. The two week deadline may be extended by the resolution authority, in consultation with the competent authority, taking into account the specific circumstances of the case.
Amendment 125 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 18
Article 1 – paragraph 18
Directive 2014/59/EU
Article 27 – paragraph 1 – point i
Article 27 – paragraph 1 – point i
Amendment 138 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 19
Article 1 – paragraph 19
Directive 2014/59/EU
Article 29a
Article 29a
Amendment 182 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 22 a (new)
Article 1 – paragraph 22 a (new)
Directive 2014/59/EU
Article 44 – paragraph 2 – subparagraph 1 – point g a (new)
Article 44 – paragraph 2 – subparagraph 1 – point g a (new)
22 a. In Article 44(2), the following point (ga) is added: “(ga) deposits by public authorities.”
Amendment 203 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45b – paragraph 1 a (new)
Article 45b – paragraph 1 a (new)
1 a. By way of derogation from paragraph 1, liabilities issued before ... [the date of entry into force of this amending Directive] which do not meet the conditions set out in points (d) and (g) to (o) of Article 72b(2) of Regulation (EU) No 575/2013 may be included in the amount of own funds and eligible liabilities of resolution entities.
Amendment 220 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45b – paragraph 3 – subparagraph 1
Article 45b – paragraph 3 – subparagraph 1
Resolution authorities may decide that the requirement referred to in Article 45f is fully or partially met by resolution entities with instruments that meet all conditions referred to in Article 72a of Regulation (EU) No 575/2013 with a view to ensure that the resolution entity can be resolved in a manner suitable to meet the resolution objectives. For each resolution entity the level of required instruments that meet all conditions referred to in Article 72 a of Regulation (EU) No 575/2013 shall not exceed the level of the requirement specified in Article 92a(1) of Regulation (EU) No 575/2013 taking into account the transitional provisions specified in Article 494 of that Regulation.
Amendment 238 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 1 – introductory part
Article 45c – paragraph 1 – introductory part
1. The requirement referred to in Article 45(1) of each entity shall be determined by the resolution authority, after having consultedin cooperation with the competent authority, on the basis of the following criteria:
Amendment 251 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 1 – subparagraph 1 a (new)
Article 45c – paragraph 1 – subparagraph 1 a (new)
The resolution authority shall ensure that the level of the requirement referred to in Article 45(1) is proportionate to the specificities of the business and funding models of the resolution entity, taking into account: (i) the prevalence of deposits in the funding structure; (ii) the lack of experience in issuing debt instruments due to the limited access to cross-border and wholesale capital markets; (iii) the fact that the institution will rely primarily on CET1 and capital instruments to meet the requirement referred to in Article 45(l).
Amendment 261 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 2 – subparagraph 2 a (new)
Article 45c – paragraph 2 – subparagraph 2 a (new)
For each resolution entity the requirement referred to in Article 45(1) shall not exceed the level of the requirement specified in Article 92a(1) of Regulation (EU) No 575/2013.
Amendment 263 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparagraph 1 – introductory part
Article 45c – paragraph 3 – subparagraph 1 – introductory part
Amendment 274 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
(i) the amount of losses to be absorbed in resolution that corresponds to the requirements referred to in Article 92(1)(a),(b) and (c) of Regulation (EU) No 575/2013 and Article 104a of Directive 2013/36/EU of the resolution entity at sub- consolidated resolution group level,
Amendment 279 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
(ii) a recapitalisation amount that allows the resolution group resulting from resolution to restore compliance with its total capital ratio requirement referred in Article 92(1)(c) of Regulation (EU) No 575/2013 and its requirement referred to in Article 104a of Directive 2013/36/EU at consolidated resolution group sub- consolidated levellevel after the implementation of the preferred resolution action;
Amendment 285 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparagraph 1 – point b – point i
Article 45c – paragraph 3 – subparagraph 1 – point b – point i
(i) the amount of losses to be absorbed in resolution that corresponds to the resolution entity's leverage ratio requirement referred to in theArticle 92(1)(d) of Regulation (EU) No 575/2013 at consolidated resolution group sub- consolidated level; and
Amendment 288 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparagraph 1 – point b – point ii
Article 45c – paragraph 3 – subparagraph 1 – point b – point ii
(ii) a recapitalisation amount that allows the resolution group resulting from resolution to restore compliance with the leverage ratio requirement referred to in Article 92(1)(d) of Regulation (EU) No 575/2013 at consolidated resolution group sub-consolidated levellevel after the implementation of the preferred resolution action.
Amendment 296 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparagraph 3 a (new)
Article 45c – paragraph 3 – subparagraph 3 a (new)
When determining the recapitalisation amounts referred to in the previous subparagraphs, the resolution authority shall: (a) use the values for the relevant total risk exposure amount or leverage ratio exposure amount as adjusted for any changes resulting from resolution actions foreseen in the resolution plan; (b) after consulting the competent authority, adjust downwards the requirement referred to in Article 104a of Directive 2013/36/EU currently applicable to the resolution entity, to determine the requirement that will be applicable to the resolution entity after the implementation of the resolution actions foreseen in the resolution plan.
Amendment 298 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 3 – subparagraph 4
Article 45c – paragraph 3 – subparagraph 4
Amendment 310 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – introductory part
Article 45c – paragraph 4 – subparagraph 1 – introductory part
4. Without prejudice to the last subparagraph, fFor entities that are not themselves resolution entities, the amount referred to in paragraph 2 shall not exceed the greater of any of the following:
Amendment 318 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – point a – point i
Article 45c – paragraph 4 – subparagraph 1 – point a – point i
(i) the amount of losses to be absorbed in resolution that corresponds to the requirements referred to in Article 92(1)(a),(b) and (c) of Regulation (EU) No 575/2013 and Article 104a of Directive 2013/36/EU of the entity, and
Amendment 320 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – point a – point ii
Article 45c – paragraph 4 – subparagraph 1 – point a – point ii
(ii) a recapitalisation amount that allows the entity to restore compliance with its total capital ratio requirement referred in Article 92(1)(c) of Regulation (EU) No 575/2013 and its requirement referred to in Article 104a of Directive 2013/36/EU after the exercise of the power to write down or convert relevant capital instruments and eligible liabilities in accordance with Article 59;
Amendment 325 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – point b – point i
Article 45c – paragraph 4 – subparagraph 1 – point b – point i
(i) the amount of losses to be absorbed in resolution that corresponds to the entity's leverage ratio requirement referred to in the Article 92(1)(d) of Regulation (EU) No 575/2013, and
Amendment 327 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 1 – point b – point ii
Article 45c – paragraph 4 – subparagraph 1 – point b – point ii
(ii) a recapitalisation amount that allows the entity to restore compliance with its leverage ratio requirement referred to in the Article 92(1)(d) of Regulation (EU) No 575/2013 after the exercise of the power to write down or convert relevant capital instruments and eligible liabilities in accordance with Article 59;
Amendment 334 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 3 a (new)
Article 45c – paragraph 4 – subparagraph 3 a (new)
When determining the recapitalisation amounts referred to in the previous subparagraphs, the resolution authority shall: (a) use the values for the relevant total risk exposure amount or leverage ratio exposure amount as adjusted for any changes resulting from actions foreseen in the resolution plan; (b) after consulting the competent authority, adjust downwards the requirement referred to in Article 104a of Directive 2013/36/EU currently applicable to the relevant entity, to determine the requirement that will be applicable to the entity after the implementation of the actions foreseen in the resolution plan.
Amendment 335 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45c – paragraph 4 – subparagraph 4
Article 45c – paragraph 4 – subparagraph 4
Amendment 363 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45d – paragraph 1
Article 45d – paragraph 1
Amendment 369 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45d – paragraph 2
Article 45d – paragraph 2
Amendment 378 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45d – paragraph 3 – introductory part
Article 45d – paragraph 3 – introductory part
3. Where more than one G-SII entity belonging to the same EU G-SII are resolution entities, the relevant resolution authorities shall calculate the amourequirement referred to in paragraph 2Article 92a of Regulation (EU) No 575/2013,
Amendment 380 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45d – paragraph 4
Article 45d – paragraph 4
Amendment 389 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 1 – subparagraph 1 – introductory part
Article 45e – paragraph 1 – subparagraph 1 – introductory part
The resolution authority may give guidance to an entity to have own funds and eligible liabilities that fulfil the conditions of Article 45b(1) or 45g(3) in excess of the levels set out in Article 45c and Article 45d that provides for additional amounts for the following purposes:
Amendment 393 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 1 – subparagraph 1 – point b
Article 45e – paragraph 1 – subparagraph 1 – point b
(b) to ensure that, in the event of resolutionfollowing resolution or the exercise of the power to write down or convert relevant capital instruments and eligible liabilities in accordance with Article 59, a sufficient market confidence in the entity is sustained through capital instruments in addition to the requirement in point (b) of Article 45c(2) ('market confidence buffer').
Amendment 396 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 2 – subparagraph 1
Article 45e – paragraph 2 – subparagraph 1
The amount of the guidance given in accordance with point (a) of paragraph 1 may be set only where the competent authority has already set its own guidance in accordance with Article 104b of Directive 2013/36/EU and the resolution authority determines that the requirement referred to in point (a) of Article 45c(2) would not be sufficient to absorb all the losses in resolution taking into account the entity’s business model, funding model and risk profile or to reduce or remove an impediment to resolvability or absorb losses on holdings of MREL instruments issued by other entities included in the same resolution group. The amount of the guidance given in accordance with point (a) of paragraph 1 shall not exceed the level of that guidance.
Amendment 399 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 2 – subparagraph 2
Article 45e – paragraph 2 – subparagraph 2
The amount of the guidance given in accordance with point (b) of paragraph 1 shall not exceed the amount of the combined buffermay be set when the resolution authority determines that the requirement referred to in point (6b) of Article 128 of Directive 2013/36/EU, except for the requirement referred to in point (a) of that provision, unless a higher level is necessary to ensure that, following the event of resolution, the entity continues to meet the conditions for its authorisation for an appropriate period of 45c(2) would not be sufficient to sustain market confidence and ensure both the continued provision of critical economic functions by the entity and the access to funding without recourse to extraordinary financial support other than contributions from resolution financing arrangements. The amount of the guidance given in accordance with point (b) of paragraph 1 shall not exceed the amount of the combined buffer requirement referred to in point (6) of Article 128 of Directimve that is not longer than one year2013/36/EU, except for the requirement referred to in point (a) of that provision.
Amendment 407 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45e – paragraph 3
Article 45e – paragraph 3
Amendment 438 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragraph 3 a (new)
Article 45g – paragraph 3 a (new)
3 a. By way of derogation from point (a)(ii) of paragraph 3, liabilities issued before ... [date of entry into force of this amending Directive] which do not meet the conditions set out in points (b)and (g) to (o) of Article 72b(2) of Regulation (EU) No 575/2013 may be included in the amount of own funds and eligible liabilities.
Amendment 462 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragraph 5 – point a
Article 45g – paragraph 5 – point a
(a) both the subsidiary and the resolution entity are subject to authorisation and supervision by the same Member State;
Amendment 468 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragraph 5 – point f
Article 45g – paragraph 5 – point f
(f) the resolution entity holds more than 50 % of the voting rights attached to shares in the capital of the subsidiary or has the right to appoint or remove a majority of the members of the management body of the subsidiary, except for credit institutions permanently affiliated to a central body;
Amendment 476 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45g – paragrapgh 5 – point g
Article 45g – paragrapgh 5 – point g
(g) the competent authority of the subsidiary has fully waived the application of individual capital requirements to the subsidiary under Article 7(1) or Article 10 of Regulation (EU) No 575/2013.
Amendment 494 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive2014/59/EU
Article 45i – paragraph 2 – subparagraph 1 a (new)
Article 45i – paragraph 2 – subparagraph 1 a (new)
The requirement referred to in the first subparagraph shall not apply to the guidance for the minimum requirement of own funds and eligible liabilities referred to in Article 45e.
Amendment 498 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45i – paragraph 4
Article 45i – paragraph 4
4. Public disclosure requirements shall apply at the date where the requirement referred to in Article 45(1) is fullyFor institutions to which resolution tools or the power to write down and convert relevant capital instruments and eligible liabilities have been applied, public disclosure requirements shall apply after the deadline referred to in point (o) of Article 10(7) to compliedy with for the first timethe requirement referred to in Article 45(1).
Amendment 502 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45k – paragraph 1 a (new)
Article 45k – paragraph 1 a (new)
Any breach of the guidance referred to in Article 45e shall be addressed by the relevant authorities on the basis of at least one of the powers referred to in point (a), (b) and (d) of paragraph 1.
Amendment 507 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 23
Article 1 – paragraph 23
Directive 2014/59/EU
Article 45l a (new)
Article 45l a (new)
Article 45l a Transitional and post-resolution arrangements 1. Resolution authorities, after consulting the competent authorities, shall determine an appropriate transitional period for each institution or entity referred to in points (b), (c) and (d) of Article 1(1) to comply with the MREL requirements in Articles 45f or 45g. The deadline to comply with the requirements in Articles 45f or 45g shall not be earlier than 1 January 2024. 2. When setting the transitional periods, resolution authorities shall take into account, among other relevant circumstances: (i) any relevant characteristics of the institutions, particularly the prevalence of deposits and the absence of debt instruments in the funding model; (ii) the limited access to the capital markets for eligible liabilities; (iii) the reliance on Common Equity Tier 1 to meet the requirement referred to in Article 45f; (iv) the overall conditions of the relevant banking system; (v) any possible impact of the requirements in Articles 45f or 45g on financial stability and any risk of contagion to the financial system.
Amendment 518 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 24
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 2 – subparagraph 1 – introductory part
Article 55 – paragraph 2 – subparagraph 1 – introductory part
The requirement referred to in paragraph 1 mayshall not apply where the resolution authority of a Member State determines all of the following conditions are meteither:
Amendment 523 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 24
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 2 – subparagraph 1 – point a
Article 55 – paragraph 2 – subparagraph 1 – point a
(a) that the liabilities or instruments referred to in the first subparagraph can be subject to write down and conversion powers by the resolution authority of a Member State pursuant to the law of the third country or to a binding agreement concluded with that third country; or
Amendment 528 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 24
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 2 – subparagraph 1 – point c
Article 55 – paragraph 2 – subparagraph 1 – point c
Amendment 532 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 24
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 2 – subparagraph 2
Article 55 – paragraph 2 – subparagraph 2
The liabilities referred to in points (b) and (c) shall not include unsecured bonds or similar debt instruments which are unsecured liabilities, Additional Tier 1 instruments, and Tier 2 instruments. Moreover, they shall be senior to the liabilities which count towards the minimum requirement for own funds and permissible liabilities.
Amendment 535 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 24
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 2 – subparagraph 3
Article 55 – paragraph 2 – subparagraph 3
The liabilities which fail to include the contractual term as required by paragraph 1 or for which, in accordance with points (b) and (c), do not include the contractual term referred to in paragraph 1 is not required, shall not be counted towards the minimum requirement for own funds and eligible liabilities.
Amendment 540 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 24
Article 1 – paragraph 24
Directive 2014/59/EU
Article 55 – paragraph 4
Article 55 – paragraph 4
4. Where an institution or entity referred to in point (b), (c) or (d) of Article 1(1) fails todoes not include in the contractual provisions governing a relevant liability a contractual term as required in accordance with paragraph 1, that failure shall not prevent the resolution authority from exercising the write down and conversion powers in relation to that liability.
Amendment 558 #
2016/0362(COD)
Proposal for a directive
Article 1 – paragraph 26
Article 1 – paragraph 26
Directive 2014/59/EU
Article 63 – paragraph 1a
Article 63 – paragraph 1a
1a. The period of the suspension pursuant to paragraph 1(n) shall not exceed the minimum period of time that the resolution authority considers necessary for the effective application of one or more resolution tools or for the purposes of the valuation pursuant to Article 36 and in any event shall not exceed 52 working days.
Amendment 583 #
2016/0362(COD)
Proposal for a directive
Article 9 – paragraph 1 – subparagraph 2 a (new)
Article 9 – paragraph 1 – subparagraph 2 a (new)
Member States shall apply Article 45i(2) from 1 January 2028.
Amendment 31 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point a
Article 1 – paragraph 1 – point a
Regulation (EU) No 806/2014
Article 3 – paragraph 1 – point 24 b
Article 3 – paragraph 1 – point 24 b
(24b) 'resolution group' means: (a) a group of entities identified by the Board in accordance with Article 8, which consists of resolution entity and its subsidiaries that are not themselves resolution entities and are not subsidiaries of another: (i) resolution entities themselves; (ii) subsidiaries of other resolution entities; or (iii) entities established in a third country that are not included in the resolution group in accordance with the resolution plan and their subsidiaries; (b) credit institutions affiliated to a central body, the central body and any institution under the control of the central body when at least one of those entities is a resolution entity;.
Amendment 41 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 4 – point c
Article 1 – paragraph 4 – point c
Regulation (EU) No 806/2014
Article 10 – paragraph 9 – subparagraph 1 a
Article 10 – paragraph 9 – subparagraph 1 a
Where an impediment to resolvability is due to a a situation referred to in Article 141a(2) of Directive 2013/36/EU, the Union parent undertaking shall propose to the Board possible measures to address or remove the impediment identified in accordance with the first subparagraph within two weeks of the date of receipt of a notification made in accordance with paragraph 7. The two week deadline may be extended by the resolution authority, in consultation with the competent authority, taking into account the specific circumstances of the case.
Amendment 50 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 c – paragraph 1 a (new)
Article 12 c – paragraph 1 a (new)
1a. By way of derogation from paragraph 1, liabilities issued before ... [date of entry into force of this amending Regulation] which do not meet the conditions set out in points (d) and (g) to (o) of Article 72b(2) of Regulation (EU) No 575/2013 may be included in the amount of own funds and eligible liabilities of resolution entities.
Amendment 53 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 c – paragraph 3 – subparagraph 1
Article 12 c – paragraph 3 – subparagraph 1
The Board, on its own initiative after consulting the national resolution authority or upon proposal by a national resolution authority, may decide that the requirement referred to in Article 12g is fully or partially met by resolution entities with instruments that meet all conditions referred to in Article 72a of Regulation (EU) No 575/2013 with a view to ensure that the resolution entity can be resolved in a manner suitable to meet the resolution objectives. For each resolution entity the level of required instruments that meet all conditions referred to in Article 72 a of Regulation (EU) No 575/2013 shall not exceed the level of the requirement specified in Article 92a(1) of that Regulation taking into account the transitional provisions specified in Article 494 of that Regulation.
Amendment 59 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 1 – introductory part
Article 12 d – paragraph 1 – introductory part
1. The requirement referred to in Article 12a(1) of each entity shall be determined by the Board resolution authority, after having consultedin cooperation with the competent authorities, including the ECB, on the basis of the following criteria:
Amendment 66 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 1 – subparagraph 1 a (new)
Article 12 d – paragraph 1 – subparagraph 1 a (new)
The Board shall ensure that the level of the requirement referred to in Article 12a(1) is proportionate to the specificities of the business and funding models of the resolution entity, taking into account: (i) the prevalence of deposits in the funding structure; (ii) the lack of experience in issuing debt instruments due to the limited access to cross-border and wholesale capital markets; (iii) the fact that the institution will rely primarily on CET1 and capital instruments to meet the requirement referred to in Article 12a(1).
Amendment 69 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5 Regulation (EU) No 806/2014
Article 1 – paragraph 5 Regulation (EU) No 806/2014
For each resolution entity the requirement referred to in Article 12a(1) shall not exceed the level of the requirement specified in Article 92a(1) of Regulation (EU) No 575/2013.
Amendment 73 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 3 – subparagraph 1 – introductory part
Article 12 d – paragraph 3 – subparagraph 1 – introductory part
Amendment 77 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 3 – subparagraph 1 – point a – point i
Article 12 d – paragraph 3 – subparagraph 1 – point a – point i
(i) the amount of losses that may need to be absorbed in resolution that corresponds to the requirements referred to in Article 92(1)(a),(b) and (c) of Regulation (EU) No 575/2013 and Article 104a of Directive 2013/36/EU of the resolution entity at sub-consolidated resolution group level,
Amendment 79 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 3 – subparagraph 1 – point a – point ii
Article 12 d – paragraph 3 – subparagraph 1 – point a – point ii
(ii) a recapitalisation amount that allows the resolution group resulting from resolution to restore compliance with its total capital ratio requirement referred in Article 92(1)(c) of Regulation (EU) No 575/2013 and its requirement referred to in Article 104a of Directive 2013/36/EU at consolidated resolution group sub- consolidated level in accordance with the resolution actions foreseen in thelevel after the implementation of the preferred resolution plaaction;
Amendment 81 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 3 – subparagraph 1 – point b – point i
Article 12 d – paragraph 3 – subparagraph 1 – point b – point i
(i) the amount of losses to be absorbed in resolution that corresponds to the resolution entity's leverage ratio requirement referred to in Article 92(1)(d) of Regulation (EU) No 575/2013 at consolidated resolution group sub-consolidated level; and
Amendment 82 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 3 – subparagraph 1 – point b – point ii
Article 12 d – paragraph 3 – subparagraph 1 – point b – point ii
(ii) a recapitalisation amount that allows the resolution group resulting from resolution to restore compliance with the leverage ratio requirement referred to in Article 92(1)(d) of Regulation (EU) No 575/2013 at consolidated resolution group sub-consolidated level in accordance with the resolution actions foreseen in thelevel after the implementation of the preferred resolution plaaction;
Amendment 84 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 3 – subparagraph 4
Article 12 d – paragraph 3 – subparagraph 4
Amendment 86 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 3 – subparagraph 4 a (new)
Article 12 d – paragraph 3 – subparagraph 4 a (new)
Amendment 91 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 4 – subparagraph 1 – introductory part
Article 12 d – paragraph 4 – subparagraph 1 – introductory part
Amendment 93 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 4 – subparagraph 1 – point a – point i
Article 12 d – paragraph 4 – subparagraph 1 – point a – point i
(i) the amount of losses to be absorbed in resolution that corresponds to the requirements referred to in Article 92(1)(a),(b) and (c) of Regulation (EU) No 575/2013 and Article 104a of Directive 2013/36/EU of the entity, and
Amendment 95 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 4 – subparagraph 1 – point a – point ii
Article 12 d – paragraph 4 – subparagraph 1 – point a – point ii
(ii) a recapitalisation amount that allows the entity to restore compliance with its total capital ratio requirement referred in Article 92(1)(c) of Regulation (EU) No 575/2013 and its requirement referred to in Article 104a of Directive 2013/36/EU in accordance with the resolution plan; orafter the exercise of the power to write down or convert relevant capital instruments and eligible liabilities in accordance with Article 21;
Amendment 96 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 4 – subparagraph 1 – point b – point i
Article 12 d – paragraph 4 – subparagraph 1 – point b – point i
(i) the amount of losses to be absorbed in resolution that corresponds to the entity's leverage ratio requirement referred to in Article 92(1)(d) of Regulation (EU) No 575/2013; and
Amendment 97 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 4 – subparagraph 1 – point b – point ii
Article 12 d – paragraph 4 – subparagraph 1 – point b – point ii
(ii) a recapitalisation amount that allows the entity to restore compliance with its leverage ratio requirement referred to in Article 92(1)(d) of Regulation (EU) No 575/2013 in accordance with the resolution planafter the exercise of the power to write down or convert relevant capital instruments and eligible liabilities in accordance with Article 21;
Amendment 98 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 4 – subparagraph 4
Article 12 d – paragraph 4 – subparagraph 4
Amendment 100 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 d – paragraph 4 – subparagraph 4 a (new)
Article 12 d – paragraph 4 – subparagraph 4 a (new)
When determining the recapitalisation amounts referred to in the previous subparagraphs, the Board shall: (a) use the values for the relevant total risk exposure amount or leverage ratio exposure amount as adjusted for any changes resulting from resolution actions foreseen in the resolution plan; (b) after consulting the competent authority, adjust downwards the requirement referred to in Article 104a of Directive 2013/36/EU currently applicable to the resolution entity, to determine the requirement that will be applicable to the resolution entity after the implementation of the resolution actions foreseen in the resolution plan.
Amendment 109 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) N0 806/2014
Article 12 e
Article 12 e
Amendment 120 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 f – paragraph 1 – subparagraph 1 – introductory part
Article 12 f – paragraph 1 – subparagraph 1 – introductory part
The Board may give guidance to an entity to have own funds and eligible liabilities that fulfil the conditions of Article 12c(1) and Article 12h(3) in excess of the levels set out in Article 12d and Article 12e for amounts for the following purposes:
Amendment 122 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 f – paragraph 1 – subparagraph 1 – point b
Article 12 f – paragraph 1 – subparagraph 1 – point b
(b) to ensure that, in the event of resolutionfollowing resolution or the exercise of the power to write down or convert relevant capital instruments and eligible liabilities in accordance with Article 21, a sufficient market confidence in the entity is sustained through capital instruments in addition to the requirement in point (b) of Article 12d(2) ('market confidence buffer').
Amendment 127 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 f – paragraph 2 – subparagraph 1
Article 12 f – paragraph 2 – subparagraph 1
The amount of the guidance given in accordance with point (a) of paragraph 1 may be set only where the competent authority has already set its own guidance in accordance with Article 104b of Directive 2013/36/EU and the Board determines that the requirement referred to in point (a) of Article 12d(2) would not be sufficient to absorb all the losses in resolution taking into account the entity’s business model, funding model and risk profile or to reduce or remove an impediment to resolvability or absorb losses on holdings of MREL instruments issued by other entities included in the same resolution group. The amount of the guidance given in accordance with point (a) of paragraph 1 shall not exceed the level of that guidance.
Amendment 128 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 f – paragraph 2 – subparagraph 2
Article 12 f – paragraph 2 – subparagraph 2
The amount of guidance given in accordance with point (b) of paragraph 1 shall not exceed the amount of the combined buffermay be set when the Board determines that the requirement referred to in point (6b) of Article 128 of Directive 2013/36/EU, except for the requirement referred to in point (a) of that provision unless a higher level is necessary to ensure that, following the event of resolution, the entity continues to md(2) would not be sufficient to sustain market confidence and ensure both the continued provision of critical economic functions by the entity and the access to funding without recourse to extraordinary financial support other than contributions from resolution financing arrangements. The amount of the guidance given in accordance with point (b) of paragraph 1 shall not exceetd the conditions for its authorisation for an appropriate period of amount of the combined buffer requirement referred to in point (6) of Article 128 of Directimve that is not longer than one year2013/36/EU, except for the requirement referred to in point(a) of that provision.
Amendment 133 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 f – paragraph 3
Article 12 f – paragraph 3
Amendment 144 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 h – paragraph 3 a (new)
Article 12 h – paragraph 3 a (new)
3a. By way of derogation from point (a)(ii) of paragraph 3, liabilities issued before ... [date of entry into force of this amending Regulation] which do not meet the conditions set out in points (b) and (g) to (o) of Article 72b(2) of Regulation (EU) No 575/2013 may be included in the amount of own funds and eligible liabilities.
Amendment 161 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 j – paragraph 1 – point d a (new)
Article 12 j – paragraph 1 – point d a (new)
(da) Any breach of the guidance referred to in Article 12f shall be addressed by the relevant authorities on the basis of at least one of the powers referred to in points (a), (b) and (d) of paragraph 1.
Amendment 163 #
2016/0361(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Regulation (EU) No 806/2014
Article 12 j a (new)
Article 12 j a (new)
Amendment 385 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Article 1 – paragraph 1 – point 27
Regulation (EU) No 575/2013
Article 72b – paragraph 2 – subparagraph 1 a (new)
Article 72b – paragraph 2 – subparagraph 1 a (new)
Amendment 392 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Article 1 – paragraph 1 – point 27
Regulation (EU) No 575/2013
Article 72b – paragraph 3 – point b
Article 72b – paragraph 3 – point b
(b) the liabilities rank pari passu with the lowest ranking excluded liabilities referred to in Article 72a(2) with the exception of the excluded liabilities subordinated to ordinary unsecured claims under national insolvency law referred to in the last subparagraph of paragraph 2; and
Amendment 398 #
2016/0360A(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 27
Article 1 – paragraph 1 – point 27
Regulation (EU) No 575/2013
Article 72b – paragraph 4 – point c
Article 72b – paragraph 4 – point c
(c) the liabilities rank pari passu or are senior to the lowest ranking excluded liabilities referred to in Article 72a(2), with the exception of the excluded liabilities subordinated to ordinary unsecured claims under national insolvency law referred to in the last subparagraph of paragraph 2;
Amendment 11 #
2015/2341(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas the Bekou Trust Fund has shown positive results in the Central African Republic;
Amendment 15 #
2015/2341(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the EUTF is intended to be a development tool that pools resources from different donors in order to enable a quick, flexible, transparent and collective response by the EU to the different dimensions of an emergency situation;
Amendment 18 #
2015/2341(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the EUTF has been conceived in order to assist a band of countries across three African regions (the Horn of Africa; the Sahel and Lake Chad basin; North Africa) that contain some of the most fragile African countries, are affected by migration as countries of origin, transit or destination if not all three, and will draw the greatest benefit from this form of EU financial assistance; whereas the eligible countries’ African neighbours may also benefit, on a case-by-case basis, from Trust Fund projects having a regional dimension with a view to addressing regional migration flows and related cross-border challenges;
Amendment 31 #
2015/2341(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Notes that the EU’s financial allocation for the EUTF for Africa comes mainly from the 11th EDF; stresses that the EUTF was established because the EU budget lacks the resources and the flexibility needed to address crises such as those in question promptly and comprehensively; calls for the EU to agree a more holistic solution in the framework of next year’s revision of the 2014-2020 MFF and the revision of the Financial Instruments in 2016, with a view to increasing the effectiveness and reactivity of humanitarian and development assistance available under the EU budget;
Amendment 37 #
2015/2341(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Stresses the need for contributions by Member States and other different sources; notes that the contributions from the Member States are still too low and do not match up the contribution from the European Commission;
Amendment 40 #
2015/2341(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Strongly underlines that funds from EDF and ODA sources must be devoted exclusively to development ends; recalls that all other expenses related to security, counter-terrorism and border controls, migration management, etc have to be funded from different sources that are pooled in the Trust Fund; stresses the need for contributions by Member States and other different sources, and recalls that leveraging is one of the foremost reasons for the creation of this instrument devoted to such different and heterogeneous ends; condemns any use of ODA sources, even a small percentage, for any purposes different from development;
Amendment 49 #
2015/2341(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Insists that national authorities must be consulted and that they must be full partners as long as there is full guarantee of efficiency and good governance in accordance with the principles of aid effectiveness;
Amendment 55 #
2015/2341(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Considers that the EU Trust Fund for Africa should contribute to the strengthening and improving of local services (health, education, nutrition) and of governance, mainly through community-based projects, and that civil society, non- governmental organisations (NGOs) and international NGOs should play a pivotal role in addressing the root causes of migration and improving local services;
Amendment 63 #
2015/2341(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Recalls that regional and local authorities, civil society and NGOs are natural partners for an effective development policy; stresses the need for a stronger cooperation with local authorities and NGOs in states demonstrating unsufficient guarantees of good governance and transparency; calls for respect for the principle of subsidiarity also in this field of action; stresses that NGOs and civil society should be strongly involved in the implementation phase of the EUTF;
Amendment 71 #
2015/2341(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Strongly believes that the Trust Fund should focus not only on macroeconomic issues but also on grassroots projects with the specific aim of improving quality and equity of services, particularly in education and the health sector, which is key to increasing inclusiveness and enhancing the wellbeing of local populations, as it can respond to the needs of vulnerable communities, including minorities, while also being able to provide better and more equitable and sustainable services to the general population;
Amendment 110 #
2015/2341(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Recalls that the rules and criteria that govern development aid for projects financed by the Trust Fund must respect Europe’s fundamental values; in this respect, underlines that EU policy regarding cooperation on security, border controls and organised crime with governments that do not respect human rights or the rights of people on the move should include specific provisions aimed at enhancing respect for human rights and the rule of law, with particular attention to women’s rights, sexual and reproductive health and rights, children’s rights, and the rights of minorities and other particularly affected groups;
Amendment 116 #
2015/2341(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Stresses the need to carefully and systematically check how the funds from the EU Trust Fund for Africa are employed and what the EU is actually financing through the Trust Fund, given the extraordinary lack of clarity in its objectives, the lack of solidarity and consensus among Member States, and the clear desire to achieve security goals by means of an instrument theoretically conceived to pursue development ends; in particular, calls on the Council and the Commission to inform Parliament in detail on the specific actions undertaken by both the EU and the African states when employing these funds;
Amendment 120 #
2015/2341(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Recalls the need for a better communication between the Commission, the Member States and the European Parliament in programming and implementing actions of the Trust Fund in general for further planning of potential further Trust Funds
Amendment 121 #
2015/2341(INI)
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20b. underlines that the Trust Fund should function only as a complementary flexible and rapid instrument and should not undermine the long-term development cooperation of the European Union;
Amendment 123 #
2015/2341(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Underlines that the lack of involvement of Parliament thus far in the establishment of the Trust Fund should at least give rise to detailed and regular reporting by the Commission on how the African Trust Fund is been implemented, enabling Parliament to play its role of watchdogscrutiny;
Amendment 125 #
2015/2341(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Believes that, given the extraordinary flexibility and rapidity proper to a Trust Fund, periodical reporting to Parliament should be undertaken at least once every six months; strongly underlines the need for transparent performance monitoring, evaluation and auditing;
Amendment 130 #
2015/2341(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Underlines the need for a thorough monitoring of the implementation of the provisions on the creation of ‘hotspots’, redistribution, replacement in countries of origin, and Member States’ financial commitments, paying particular attention to human rights;
Amendment 3 #
2015/2317(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Recalls that trade and finance is one of the five priority areas of policy coherence for development, a concept enshrined in article 208 TFEU; recalls that all EU external policies, including trade and investment, must be aligned with Article 21 of the TEU and must not undermine sustainable development goals, human rights and gender equality; recalls the principles mentioned in article 24, paragraph 2 of the Council Regulation No 260/2009;
Amendment 4 #
2015/2317(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Recalls likewise the EUʼs commitment to mainstream gender in all its policies and the importance of guaranteeing that men and women benefit equally from social changes, economic growth and the creation of decent jobs, doing away with discrimination and promoting respect for womenʼs rights in the world
Amendment 11 #
2015/2317(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Recalls that trade liberalisation is not positive, per se, in terms of reducing poverty and could have negative effects on sustainable development if it is not accompanied by re-distribution through fair and progressive tax systemshe final outcome of the Addis Ababa conference and the SDG agenda describes trade as an important means of implementing the global sustainable development goals (SDGs); recalls that fair trade can play a positive role in reducing poverty and inequality; urges the EU to work towards the reinforcement of international fiscal cooperation as agreed by the G20 and the Addis Ababa Action Agenda;
Amendment 15 #
2015/2317(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Welcomes that the Commission, in its recent communication "Trade for All", reaffirms the principle of policy coherence for development and aims at 'a more responsible' trade and investment policy, namely by contributing to the SDGs and the inclusive growth in developing countries;
Amendment 18 #
2015/2317(INI)
Draft opinion
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Urges the Commission to align all EU trade-related instruments to the SDGs: free trade agreements, in particular the Economic Partnership Agreement with African countries, plurilateral and multilateral agreements under the World Trade Organisation (WTO), the Generalised System of Preferences (GSP), Aid for Trade, EU Regulations, as well as international standards and code of conducts;
Amendment 25 #
2015/2317(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. CRecalls on the Commission to take measures to prevent the potential negative effects of mega trade deals, such as the Transatlantic Tthat fair and properly regulated trade if aligned with SDGs could have potentialities for development; calls on the Commission to include strong and comprehensive sustainable development chapters, which are effectively implemented and enforced, in EU's trade and Iinvestment Partnership (TTIP) and the Trade in Services Agreement (TiSA), on developing countrieagreements; calls on the Commission to propose measures to ensure that the potential benefits of trade agreements trickle down to developing countries; welcomes the commitment of the Commission in the communication "Trade for All" to undertake in-depth analysis of the potential effects of new FTAs on LDCs;
Amendment 29 #
2015/2317(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Regrets that the level of ambition displayed by successive TSD chapters in EU trade agreements has often not met the best standards; stresses the importance of ensuring proper monitoring and enforcement of the provisions contained in such chapters, and calls for the full involvement of civil society organisations and social partners in this respect, both in partner countries and in the EU;
Amendment 32 #
2015/2317(INI)
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Recalls the European Commission's commitment to carry out Sustainability Impact Assessments (SIAs) on all trade negotiations; regrets that SIAs have not been carried out in a timely fashion; calls on the Commission to deliver on its commitment and to ensure that the impact of potential trade agreements on developing countries is properly taken into account;
Amendment 35 #
2015/2317(INI)
Draft opinion
Paragraph 3 c (new)
Paragraph 3 c (new)
3c. Welcomes the progress made since the establishment of the Bangladesh Sustainability Compact while acknowledges that important challenges remain and need to be addressed; calls on the Commission to expand binding frameworks to other sectors; urges, in this regard, the Commission to go beyond corporate social responsibility and propose a mandatory legal framework for due diligence initiatives that complement the existing EU timber regulation, for other sectors, thereby ensuring the EU and its traders and operators live up to the obligation to respect human rights and the highest social and environmental standards;
Amendment 37 #
2015/2317(INI)
Draft opinion
Paragraph 3 d (new)
Paragraph 3 d (new)
3d. Calls the EU and its Member States to commit to increase Aid for Trade (AfT) support for developing countries, particularly least developed countries (LDCs), while addressing fair and ethical trade in the upcoming revision of its Aid for Trade strategy, as announced in the communication "Trade for All"; calls EU Aid for Trade and technical assistance to empower poor producers, micro and small enterprises, women-led enterprises and cooperatives in order to boost their benefits from trading in local and regional markets;
Amendment 43 #
2015/2317(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls on the Commission to safeguard the right of countries to regulate and preserve policy space in order to develop infant industries; urges the Commission to ensure that trade agreements and policies do not undermine developing countries’ efforts to increase the domestic value added, in order to upgrade along the global value chains, and to create decent jobs locally, prioritising the contribution of women to economic development, especially in rural areas, as essential elements for endogenous development;
Amendment 45 #
2015/2317(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls on the Commission to monitor the implementation of the WTO's Bali and Nairobi Packages, namely with regard to the elimination of agricultural export subsidies at multilateral level, the decisions of specific benefit to the LDCs as well the Agreement on Trade Facilitation;
Amendment 46 #
2015/2317(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. In this sense, stresses that capacity building and technical assistance should continue to be made available to developing and least developed countries, in order to enable them to benefit from a bigger share of the value added in global value chains;
Amendment 47 #
2015/2317(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Recalls that EU investment policy, especially when involving public money, must contribute to the realisation of the SDGs; recalls the need to enhance transparency and accountability of development finance institutions (DFIs), and public-private partnerships (PPPs) to effectively track and monitor the money flows, debt sustainability and the added value for sustainable development of their projects;
Amendment 48 #
2015/2317(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Emphasises that efforts to strengthen the capacity of developing countries for mobilising private resources must of necessity be accompanied by measures to create environments that are favourable to responsible and sustainable entrepreneurship and investment, starting with the eradication of political corruption and with fair taxation, accompanied by firm action to fight tax fraud, tax evasion and tax havens;
Amendment 51 #
2015/2317(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses the importance of participation through broad and transparent consultations of civil society organisations and trade unions, both from the European Union member states and from third countries, in the negotiation, implementation and monitoring of EU trade and investment agreements and policies;
Amendment 60 #
2015/2317(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Calls on the Commission to develop a complaint mechanism as a basis for sanctions to channel the voices of those whose human rights armay be jeopardised by EU trade policies and which will form an essential element of the EU’'s role in the implementation of the sustainable development goals;
Amendment 65 #
2015/2317(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Calls on the EU and its Member States to promote the multilateral debate on investment treaties, to take into account UNCTAD´s Investment Policy Framework for Sustainable Development recommendations to stimulate more responsible, transparent and accountable investments, as well as to actively engage with the UN Human Rights Council in its work towards an international treaty that would hold transnational corporations accountable for human rights abuses.
Amendment 71 #
2015/2317(INI)
Draft opinion
Paragraph 8 e (new)
Paragraph 8 e (new)
8e. Calls on the Commission to set up product traceability systems as well as an EU register of businesses involved in EU development projects, in order to make their actions more transparent and enable citizens to monitor the actions of EU businesses outside the EU, while at the same time facilitating the dissemination of experience on an international scale and, equally important, the visibility and positive image of EU businesses;
Amendment 1 #
2015/2316(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Considers that migration is a human right enshrined in Article 13 of the UN Universal Declaration of Human Rights; urges the Commission and, the EU Member States and the international community to respect this article and all otherthe relevant international obligations concerning refugees and migrants, and to recognise the contribution that refugees and migrants make to our societies; considers that forced migration has root causes (notably economic, political and social reasons) that must be tackled; underlines the need for urgent action to address all human rights violations faced by migrants, which are most acute in situations of pressure due to security challenges and natural disasters; stresses that the EU and its Member States must lead by example in the promotion and the protection of the human rights of migrants, notably within its own borders, in order to be credible when discussing migration and human rights in third countries;
Amendment 6 #
2015/2316(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Welcomes the integration of migration into the Sustainable Development Goals (SDGs), namely in SDG 10, which sets the framework for global development policy until 2030; recalls that the States committed to cooperate internationally to ‘ensure safe, orderly and regular migration involving full respect for human rights and the humane treatment of migrants regardless of migration status, of refugees and of displaced persons’; notes that forced displacement is not only a humanitarian issue but also a development challenge, therefore there should be a better coordination between humanitarian and developmental actors; considers that the implementation of the SDGs is an opportunity to reinforce a rights-based approach in the asylum and migration policies and to mainstream migration into development strategies; calls on the international community to adopt measurable indicators of the SDGs on migration, as well as to collect and publish disaggregated data on migrants access to decent work, healthcare and education, especially in developing destination countries, in order to improve migration governance;
Amendment 7 #
2015/2316(INI)
Draft opinion
Paragraph 2
Paragraph 2
Amendment 16 #
2015/2316(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Calls on the EU and its Member States to assume their responsibilities with respect to forced migration and human rights viRecognises the complexity of the ‘development-migration nexus’, without denying that development can help mitigate forced migration by increasing development cooperation, improving capacity-building, supporting conflict resolautions and promoting third countries, and to address the root causes both of human rights violations in third countries and of forced migration from third countries to Europee respect of human rights; considers that development aid should address effectively the root causes of migration, either economic, political, social or environmental; stresses that development assistance programmes should not be used for purely migration and border management purposes; notes that EU development policy main objective should be the eradication of poverty;
Amendment 21 #
2015/2316(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Recognises the positive contribution of refugees and migrants to our societies, benefiting destination countries, transit countries, countries of origin - amongst which developing countries; calls on the EU and the international community to identify specific actions that governments can take to amplify the potential of legal migration as a development enabler; stresses that political leadership and strong advocacy are required, especially in destination countries, to combat xenophobia and to facilitate the social integration of migrants;
Amendment 22 #
2015/2316(INI)
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Recalls that the majority of the world’s refugees and migrants are being hosted by developing countries; recognises the efforts carried out by third countries in the reception of migrants and refugees; stresses that the support systems of these countries face critical challenges which may cause severe threats to the protection of a growing displaced population; calls on the EU to pursue policy coherence and to use various policy instruments in its relations with developing countries in order to promote human rights and the rights of migrants, especially of women and children who are particularly vulnerable to violence, trafficking and abuse; in this regard, calls on the EU and its Member States to systematically incorporate migration issues as a component of development programmes and in the political dialogue with third countries, as well as to provide technical assistance to improve national and local-level migrant integration policies, always ensuring the proper involvement of NGOs and civil society;
Amendment 25 #
2015/2316(INI)
Draft opinion
Paragraph 3 c (new)
Paragraph 3 c (new)
3c. Urges the EU to integrate the migration dimension in the post-Cotonou framework which will define the future relations between the EU and ACP countries; notes that a greater involvement of third countries in the design and negotiation of GAMM instruments would enhance the ‘partnership’ nature of these instruments, improving their local ownership and their efficiency;
Amendment 26 #
2015/2316(INI)
Draft opinion
Paragraph 3 d (new)
Paragraph 3 d (new)
3d. Asks the Commission to enhance the transparency and flexibility of the EU Emergency Trust Fund for Africa and calls on EU Member States to contribute, at least at the same level as the Commission, to this Fund; underlines that it is essential to make sure, through proper monitoring and evaluation of the programmes, that the Trust Fund serves its purpose, namely helping those in need, fighting bad governance, corruption and promoting the rule of law in African countries;
Amendment 27 #
2015/2316(INI)
Draft opinion
Paragraph 3 e (new)
Paragraph 3 e (new)
3e. Urges EU development projects aimed at migrants and asylum seekers to implement the ‘leave no-one behind’ principle, by focusing on access to basic social services, notably health and education, and by paying a special attention to vulnerable persons and groups, such as women, children, minorities and indigenous people, LGBT persons and persons with disabilities;
Amendment 28 #
2015/2316(INI)
Draft opinion
Paragraph 4
Paragraph 4
Amendment 32 #
2015/2316(INI)
Draft opinion
Paragraph 5
Paragraph 5
Amendment 37 #
2015/2316(INI)
Draft opinion
Paragraph 6
Paragraph 6
Amendment 38 #
2015/2316(INI)
Draft opinion
Paragraph 7
Paragraph 7
Amendment 40 #
2015/2316(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Calls for the cancellation of the exInsists that sustainable debt solutions, including standards for responsible lending and borrowing, must be facilitated through a multilaternal debt of impoverished countries, as such debt makes it impossible for their governments to develop public policies that guarantee respect for human rights. legal framework for sovereign debt restructuring processes, with a view to alleviating the debt burden and avoiding unsustainable debt in order to create the conditions for the protection of human rights in the long term;
Amendment 33 #
2015/2277(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes that several CCFs focus on the development of special economic areas with the goal of maximising investments through initiatives ranging from road or energy infrastructure to tax, customs or land tenure regimes; stresses the need also to improve and ensure focus on access to water , scaling up Nutrition-Education and sharing best practice strategies;
Amendment 34 #
2015/2277(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Observes that agricultural investment policies tend to encourage large-scale land acquisitions and focus on export-oriented agriculture that is usually unrelated to local economies; accordingly, questions the ability of mega-PPPs to contribute to poverty reduction and food security; recalls that the FAO Tenure Guidelines recommend to secure access to land to allow families to produce food for household consumption and to increase household income; stresses the need to base large-scale land based investment in Africa on these guidelines, ensuring smallholder and local communities' access to land, promoting local SME investment and ensuring that PPPs contribute to food security and to reducing poverty and inequality;
Amendment 45 #
2015/2277(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Urges the EU Member States to strive to transform NAFSN into a genuine tool for sustainable development and into an instrument of support for family farming and local economies in sub-Saharan Africa (SSA), recalling that family farmers and smallholders produce about 80 % of the world’s food and provide over 60 % of employment in SSA;
Amendment 67 #
2015/2277(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Welcomes the inclusion in all CCFs of the 2012 Voluntary Guidelines on Responsible Governance of Tenure of Land, Fisheries and Forests (VGGT); calls for the effective implementation and systematic assessment of compliance with the VGGT and with the SDG framework within the review process for the CCFs;
Amendment 75 #
2015/2277(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Supports a robust and innovative monitoring mechanism within the CFS; calls on the EU to build a strong position, in consultation with Civil Society organizations, in order to contribute to the global monitoring event during the 43rd CFS session in October 2016, in order to ensure a comprehensive and thorough assessment of the use and application of the Tenure Guidelines;
Amendment 82 #
2015/2277(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Urges African governments to invest in local food systems in order to boost rural economies and, ensure decent jobs, equitable social safety nets and labour rights, as well as guarantee local people’'s rights of access to and control over resources;
Amendment 19 #
2015/2254(INL)
Draft opinion
Indent 1 – paragraph 2
Indent 1 – paragraph 2
2. Considers that the procedure under Article 7 TEU is virtually unusablewill hardly be used to its full potential, due to the unanimity requirement in the European Council; notes that the Union has no legally binding mechanism in place to monitor regularly the compliance of the Member States and EU institutions with the EU's fundamental values;
Amendment 25 #
2015/2254(INL)
Draft opinion
Indent 1 – paragraph 3
Indent 1 – paragraph 3
3. Takes notStresses the importance of the rule of law Framework established by the Commission in 20141 and of the creation of an annual dialogue on the rule of law in the General Affairs Council as established in December 2014; and looks to the formulation of common ground as between these different rule of law mechanisms; , in order to make sure they are effective in ensuring compliance with fundamental rights and democratic values in the entire Union; __________________ 1 Communication of the Commission of 11 March 2014 on "A new EU Framework to strengthen the Rule of Law" (COM(2014)0158).
Amendment 30 #
2015/2254(INL)
Draft opinion
Indent 1 – paragraph 4
Indent 1 – paragraph 4
Amendment 45 #
2015/2254(INL)
Draft opinion
Indent 1 – paragraph 5
Indent 1 – paragraph 5
5. Emphasises the key role that the European Parliament and the national parliaments should play in measuring the progress of, and monitoring the compliance with, the shared values of the Union, as enshrined in Article 2 TEU;
Amendment 47 #
2015/2254(INL)
Draft opinion
Indent 2 – paragraph 5 a (new)
Indent 2 – paragraph 5 a (new)
5a. Recalls that the European Parliament under Rule 135 of its Rules of Procedure has developed a scrutiny over third States in the case of breach of human rights, democracy and the rule of law; considers that on the basis of Articles 2, 6 and 7 TEU and Rule 135 of the Rules of Procedure, the European Parliament should take motions for resolutions on the respect for the rule of law, democratic values and the state of fundamental rights within the European Union and its Member States;
Amendment 49 #
2015/2254(INL)
Draft opinion
Indent 2 – paragraph 6
Indent 2 – paragraph 6
6. Recommends the establishment on an EU mechanism for Democracy, the Rule of Law and Fundamental Rights which would include all relevant stakeholders; considers that this would, however,, provided such mechanism does not jeopardize or rival with but rather complements and paves the way for the procedure under Article 7 TEU, it may not require a Treaty change;
Amendment 68 #
2015/2254(INL)
Draft opinion
Indent 2 – paragraph 8
Indent 2 – paragraph 8
8. Recommends the conclusion of a pact between all EU institutions and national parliaments in order to establish an annual 'fundamental rights policy cycle' as part of a multi-annual structured dialogue among all stakeholders; in this context, suggests that the European Parliament holds a yearly debate on the respect for democracy, the rule of law and the state of fundamental rights within the European Union; believes that this debate should be organized in such a way that it can involve setting benchmarks and goals to achieve and providing the means to evaluate changes from one year to another;
Amendment 75 #
2015/2254(INL)
Draft opinion
Indent 2 – paragraph 10
Indent 2 – paragraph 10
Amendment 4 #
2015/2110(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Notes that organised crime has a transnational dimension and encompasses a various range of criminal activities including drug trafficking, smuggling of migrants, money-laundering, trafficking in counterfeit goods, firearms, wildlife and cultural property; highlights the need for a joint action based on accessible information and increased cooperation between the police and the judicial authorities of various Member States and developing countries, which should be assisted by ad hoc joint coordination bodies;
Amendment 5 #
2015/2110(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Notes that the costs of corruption cannot only be calculated in economic terms, and that these costs are very high, especially in developing countries, which undermines public trust in public authorities and democratic institutions, increases inequalities that disproportionately affect the poorest and most vulnerable, and reduces the effectiveness of development aid;
Amendment 8 #
2015/2110(INI)
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Recalls that illicit financial flows, estimated at $1 trillion a year, are major obstacles to the mobilisation of domestic revenue for development, and drain resources that should be invested in developing countries;
Amendment 10 #
2015/2110(INI)
Draft opinion
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Recalls that the 2030 Agenda for Sustainable Development recognises the need to fight corruption in all its forms, calling on States to reduce illicit financial flows, bribery and corruption and to build effective, accountable and transparent institutions;
Amendment 11 #
2015/2110(INI)
Draft opinion
Paragraph 1 d (new)
Paragraph 1 d (new)
1d. Calls on the Commission to develop a comprehensive strategy for corruption risk management in developing countries and to implement fully the anti-fraud strategy issued in 2013, especially when implementing EU aid in all its modalities, including the EDF and trust funds, and when delegating development projects to third parties;
Amendment 12 #
2015/2110(INI)
Draft opinion
Paragraph 1 e (new)
Paragraph 1 e (new)
1e. Calls on the EU to support the establishment of strong national systems and institutions to address corruption in developing countries, including central and local government systems, tax authorities, law enforcement agencies, but also NGOs, media and parliaments; stresses that budget support to developing countries should be accompanied by a clear strategy to minimise corruption risks;
Amendment 2 #
2015/2105(INI)
Motion for a resolution
Citation 2 a (new)
Citation 2 a (new)
– having regard to its recommendations to the Commission for the negotiations for the Transatlantic Trade and Investment Partnership and the Trade in Services Agreement of 8 July 2015 and 3 February 2016 respectively,
Amendment 5 #
2015/2105(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Emphasises that open trade ismust be an engine for growth, development and wealth creation and sustainable development; recalls that the countries most integrated into the world economy are also among the richest;
Amendment 10 #
2015/2105(INI)
Motion for a resolution
Citation 11 a (new)
Citation 11 a (new)
– having regard to the opinion of the Committee on International Trade to the report on Transparency, accountability and integrity in the EU institutions,
Amendment 11 #
2015/2105(INI)
Motion for a resolution
Citation 14 a (new)
Citation 14 a (new)
– having regard to Article 24 § 2 of the EU regulation 2015/478 of the European Parliament and of the Council of 11 March 2015 on common rules for imports,
Amendment 12 #
2015/2105(INI)
Motion for a resolution
Citation 15
Citation 15
– having regard to the principle of policy coherence for development as stated in the TFEU,
Amendment 14 #
2015/2105(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Stresses that the importance of the potential contribution of trade policy to sustainable development was recently reaffirmed in the Addis Ababa outcome document and in the 2030 Agenda for Sustainable Development; recalls that the Sustainable Development Goals include several trade-related targets across a number of policy areas;
Amendment 15 #
2015/2105(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Welcomes that the communication "Trade for All" reaffirms the principle of policy coherence for development and aims at 'a more responsible' trade and investment policy, namely by contributing to the SDGs and the inclusive growth in developing countries; welcomes also the commitment to undertake in-depth analysis of the potential effects of new FTAs on LDCs; urges the Commission to put its words into action and to make all EU trade-related instruments consistent with the SDGs;
Amendment 16 #
2015/2105(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas openness to trade is a necessity for the European economy as most of the global wealth will be created elsewhere in the future but this must go hand in hand with a robust framework at home that ensures trade delivers for citizens consisting of effective trade defence and social flanking policies;
Amendment 19 #
2015/2105(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
Ab. whereas the 2030 Agenda for Sustainable Development and the Paris agreement are of the highest importance for global sustainable development and EU trade policy has to contribute to the fulfilment of their key elements;
Amendment 20 #
2015/2105(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the common commercial policy (CCP) has undergone a profound change since the entry into force of the Lisbon Treaty in December 2009; whereas trade does not operate in isolation, but rather is linked to and dependent on many other polices; whereas negotiations on trade and investment agreements have changed and evolved over time; must go beyond simply cutting tariffs as complex challenges lie today in regulatory matters and convergence on international standards;
Amendment 25 #
2015/2105(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Welcomes the advances made at the World Trade Organisation’'s Ministerial Conference in Nairobi, in particular in the area of agriculture (e.g. the elimination of trade-distorting agriculture export subsidies, and progress on market access for the least developed countries (LDCs)); calls on the Commission to support developing and LDCs in the implementation of the Agreement on Trade Facilitation and welcomes, in this regard, EU's initiative of targeting EUR 400 million in funding over five years for supporting trade facilitation reforms and projects such as improving the customs systems of developing and LDCs;
Amendment 25 #
2015/2105(INI)
Motion for a resolution
Recital C
Recital C
C. whereas, in times of low economic growth, the contribution of foreign trade to the recovery of the European economy is of key importance in delivering concrete and measurable results and contributing to decent jobs and sustainable economic growth and equality in Europe and beyond;
Amendment 26 #
2015/2105(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas trade can be a tool to increase potential economic output by permitting businesses to increase their supply to satisfy a growing external demand and without increasing public spending;
Amendment 28 #
2015/2105(INI)
Motion for a resolution
Recital D
Recital D
D. whereas new-generation trade policy needs to respond to people’'s concerns; whereas trade can help fighting poverty and improve the living and working conditions of the people in Europe and in our trading partner countries whereby a fair and equitable wealth distribution in society is indispensable;
Amendment 32 #
2015/2105(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls on the Commission to enforce supply chain due diligence; calls on the Commission to support developing countries to increase their domestic value added in order to upgrade along the global value chains;
Amendment 34 #
2015/2105(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Stresses the crucial role of Aid for Trade (AfT) in trade-related capacity-building, technical assistance, business support policies for SMEs and regional integration; notes, however, that without serious efforts by the countries directly concerned and significant improvements in governance, trade cannot – in isolation – help countries to overcome development constraints; calls the EU and its Member States to commit to increase Aid for Trade (AfT) support for developing countries, LDCs, while addressing fair and ethical trade in the upcoming revision of its Aid for Trade strategy, as announced in the communication "Trade for All";
Amendment 38 #
2015/2105(INI)
Motion for a resolution
Recital E
Recital E
E. whereas on-going trade negotiations such as ACTA, TTIP, CETA and TiSA have brought European trade policy increasingly to the public’'s attention, and whereas more and more citizens are worried that European regulation and standards could be undermined by the CCP;
Amendment 40 #
2015/2105(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas the European Commission made a clear pledge that no trade agreement will ever lower levels of regulatory protection, that any change to levels of protection can only be upward and that the right to regulate will always be protected;
Amendment 44 #
2015/2105(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Recalls that Economic Partnership Agreements (EPAs) arcan be a key development instrument for helping to alleviate poverty in the long run; stresses, however, that their scope is still mainly limited to goods, and that expanding them to services and investment would considerably increase potential for growth and promote human rights; calls on the EU to establish specific monitoring structure in the EPAs dedicated to sustainable development and that ensure the proper involvement of civil society organisations and trade unions as well as to include stronger human rights clauses with coherent means of implementation;
Amendment 49 #
2015/2105(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Regrets that the communication "Trade for All" does not make any reference to the Cotonou Agreement, which expires in 2020; calls on the EU to engage in a broad consultation and dialogue process, including with our ACP countries, about the post-Cotonou framework;
Amendment 51 #
2015/2105(INI)
Motion for a resolution
Recital G
Recital G
G. whereas by 2050 the EU-28 will account for only 15 % of the world’'s GDP, down from 23.7 % in 2013, and whereas by 2015 90 % of world economic growth will be generated outside Europe;
Amendment 52 #
2015/2105(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Calls on the Commission to include strong and comprehensive sustainable development chapters, which are effectively implemented and enforced, in EU's trade and investment agreements; calls in particular for provisions that ensure human rights, labour rights, environmental and social protection as well as gender equality;
Amendment 54 #
2015/2105(INI)
Draft opinion
Paragraph 6 c (new)
Paragraph 6 c (new)
6c. Calls on the Commission to improve policy coherence for development in trade policy in particular as it relates to public health; asks the Commission to support developing countries in making effective use of the flexibilities built into the TRIPS Agreement and recognised by the Doha Declaration on the TRIPS agreement and Public Health adopted on 14 November 2001, in order to be able to provide essential medicines at affordable prices under their domestic public health programmes; calls on the Commission to provide full transparency of the content of its intellectual property related assistance programmes for low and middle income countries and ensure that parallel assistance on intellectual property does not undermine other health-related development projects;
Amendment 79 #
2015/2105(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Calls on the Commission to regularly update its trade and investment strategy and to publicly present a detailed annualmid-term implementation report to Parliament to ensure it delivers on its promises;
Amendment 83 #
2015/2105(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Urges the Commission to expedite its procedures so that negotiated trade agreements can be referred to Parliament within a shorter period of time and can therefore be provisionally applied or enter into force more swiftly;
Amendment 84 #
2015/2105(INI)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Stresses that enhanced cooperation between regulators is key to facilitate trade and investment through the identification of technical barriers to trade and duplicated or redundant administrative burdens and formalities, which disproportionately affect SMEs, while not compromising the technical procedures linked to fundamental standards and regulations or procedures serving a public policy objective, preserving European standards on health, safety, consumer, labour, social and environmental legislation and cultural diversity and fully respecting the regulatory autonomy of national, regional and local authorities;
Amendment 90 #
2015/2105(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Welcomes the Commission’'s attempts to increased transparency and openness at all stages of trade negotiations, such aand supports the Commission’'s TTIP transparency initiative; acknowledges that, after a number of requests from Parliament, the Commission enhanced the transparency of negotiations by providing all Members of the European Parliament and of the national parliaments access to classified negotiating documents and providing more information to stakeholders; recalls that enlarged access to classified information by Members of Parliament in the TTIP negotiations has strengthened parliamentary scrutiny, thereby allowing Parliament to assume its responsibility under the CCP even better; calls therefore for a widening of the Commission’'s transparency initiative to extend its key elements to all ongoing trade negotiations;
Amendment 94 #
2015/2105(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls on the Council to publish all existingpreviously adopted and future negotiating mandates as soon as they are adoptedwithout delay;
Amendment 96 #
2015/2105(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Stresses that the involvement of civil society and stakeholdocial partners, including through appropriate public online consultations and communication campaigns, is crucial in order to strengthen the legitimacy of trade policy and to improve its content;
Amendment 97 #
2015/2105(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Stresses that, where possible, EU institutions documents should be published. Reminds that where confidential information is beyond the reach of public access it must be available to parliamentarians who scrutinise trade policy on behalf of citizens; considers that there should be clear criteria for classifying documents to avoid ambiguity and arbitrary decisions; notes that the case law of the ECJ makes it clear that where a document originating in an EU institution is covered by an exception to the right to public access, the institution must clearly explain why access to this document could specifically and effectively undermine the interest protected by the exception, and that this risk must be reasonably foreseeable and not purely hypothetical; calls on the Commission to implement the recommendations of the European Ombudsman of July 2015 with particular regard to access to documents for all negotiations;
Amendment 100 #
2015/2105(INI)
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Asks the Commission to where possible, conduct negotiations with no less transparency than those organised in the World Trade Organisation (WTO); stresses, however, that the Commission must also persuade negotiating partners to increase transparency at their end to make sure that this is a reciprocal process in which the EU's negotiating position is not compromised and to include the aspired level of transparency in its scoping exercises with potential negotiating partners; stresses that meaningful transparency can strengthen global support for rules-based trade;
Amendment 102 #
2015/2105(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Recalls that the CCP is to be conducted in the context of the principles and objectives of the Union’'s external action as set out in Article 21 TEU; recalls that the EU’'s trade and investment policy must be consistent with other external policies, such as development policy; stresses that the EU has a legal obligation to respect human rights, and should foster the sustainable economic, social and environmental development of trading countries; points out that in some cases trade and investment agreements may have negative effects contrary to the EU’'s external objectives as enshrined in the Treaties; is of the opinion that the EU has a responsibility to help tackle any negative impact caused by its CCP; recalls that only fair and properly regulated trade, if aligned with the Sustainable Development Goals (SDGs), could have potentialities for development and reduce inequality;
Amendment 111 #
2015/2105(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Stresses the co-legislator role played by the Parliament and therefore calls on the Commission to build upon and improve its cooperation with the Parliament and to enhance its efforts in order to constructively work with the other Institutions prior to taking decisions;
Amendment 112 #
2015/2105(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Urges the Commission to develop a comprehensive 'access to medicines- policy' across the policy areas such as trade, development, research and innovation and public health, which supports the effective implementation and realisation of Sustainable Development Goal 3;
Amendment 113 #
2015/2105(INI)
Motion for a resolution
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Welcomes the Commission's support of the extension request for pharmaceutical intellectual property by LDCs until these countries no longer are considered LDCs; regrets the final WTO TRIPS Council decision to grant only a time limited extension of 17 years; asks the Commission follow through on its initial position by supporting all developing countries in making full and effective use of all flexibilities built into the TRIPS Agreement and recognised by the TRIPS Agreement and affirmed by the Doha Declaration on the TRIPS agreement and Public Health adopted on 14 November 2001, in order to be able to provide affordable medicines under their domestic public health programmes;
Amendment 114 #
2015/2105(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Recognises the Commission’'s efforts to strengthen sustainable development and promote human rights, labour and social standards and environmental sustainability worldwide through its trade and investment agreements but urges determined efforts to fully implement and enforce the corresponding chapters in practice; shares the Commission’'s view that the EU has a special social responsibility as regards the impact of its trade policies on least- developed countries (LDCs); calls on the Commission to adopt accompanying measures in trade agreements with developing countries;
Amendment 121 #
2015/2105(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Considers that in particular for partner countries undergoing an economic crisis above all the objective of the Deep and Comprehensive Free Trade Areas (DCFTA) must be tangible and sustainable improvements to the living conditions of ordinary people;
Amendment 122 #
2015/2105(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Stresses that provisions on human rights and social and environmental standards, and a binding chapter on labour rights based on the ILO’'s core labour rights and corporate social responsibility (CSR), including the OECD principles for multinational companies and the UN Principles on Business and Human rights, must form an essential part of EU trade agreements9 [9]; calls on the Commission to include sustainable development chapters that are not only legally binding but also enforceable in all EU trade and investment agreements; points out that labour and environmental standards are not limited to Trade and Sustainable Development Chapters but must be effective throughout all areas of trade agreements; calls on the EEAS to systematically include dedicated labour attachés in its delegations abroad; [9] OJ C 99E, 3.4.2012, p. 31. __________________ 9 OJ C 99E, 3.4.2012, p. 31.
Amendment 129 #
2015/2105(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Stresses that Everything But Arms (EBA), the General System of Preferences (GSP) and the GSP+ schemes are tools which enable fundamental values to be upheld; insists on the importance of their effective implementation and monitoring and welcomes the Commission's commitment to strengthening cooperation with beneficiary countries in this regard;
Amendment 131 #
2015/2105(INI)
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Calls on the Commission to develop legislation with the aim of forbidding imports of goods produced with any form of forced labour or modern slavery and in the meantime, strengthen import and supply chain controls on ethical grounds;
Amendment 136 #
2015/2105(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Calls on the Commission to establish a structured and depoliticised process whereby consultations with a partner for suspected violations of obligations under trade and sustainable development chapters have to be launched according to clear criteria;
Amendment 137 #
2015/2105(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Highlights the importance of Domestic Advisory Groups (DAGs) and the involvement of civil society in joint fora under the free trade agreements (FTAs) that monitor and comment on the agreements' implementation and the parties respect for their commitments and obligations on human rights, labour standards and environmental protection; calls for the further strengthening of the work of DAGs; stresses that they should be fully independent; calls on the Commission to take measures to improve the work of DAGs such as providing financial resources, prior information and the possibility of using more advanced media in order to facilitate civil society participation; and to thoroughly take into account the Domestic Advisory Group's recommendations; calls on the EU to reinforce its monitoring capacity in the EPAs dedicated to sustainable development and human rights that ensure the proper and transparent involvement of civil society organisations;
Amendment 142 #
2015/2105(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Notes with concern that there has been little interest on the EU side so far among civil society to participate in certain EU civil society advisory groups provided for under the Agreements and calls on the Commission to draw appropriate conclusions to invigorate these mechanisms and ensuring their representative character in line with recommendations from the European Economic and Social Committee;
Amendment 143 #
2015/2105(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recalls that the ILO estimates that 865 million women around the world, if better supported, could contribute more robustly to economic growth; notes that women-owned businesses represent an underutilised lever to boost competitiveness, accelerate business and sustain growth; states that trade policy can have differing gender impacts across the various sectors of the economy; and that more data on gender and trade is needed regrets that the Commission does not address the gender dimension of trade agreements in its ‘'Trade for All’' communication; calls on the Commission to step up its efforts to use trade negotiations as a tool to promote gender equality worldwide, as well as to ensure that both women and men can take advantage of the benefits of trade liberalisation and be protected from its negative effects; to this aim, the Commission should make sure that the gender perspective is included, horizontally, in all future trade agreements and also, as an essential part of the EU mainstreaming strategy and proposes, the Commission should guarantee a thorough monitoring and evaluation of the gender impact of the trade agreements in force;
Amendment 151 #
2015/2105(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Calls on the Commission to make its trade and investment policy fully aligned with the ILO Decent Work Agenda;
Amendment 160 #
2015/2105(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Acknowledges that the internationalisation of the world’'s production system has resulted in new openings for economic development and an employment-based path out of poverty for hundreds of millions of people; recalls that, according to the ILO, around 780 million active women and men are not earning enough to be lifted out of poverty; underlines that the expansion of GVCs has created job opportunities but also propelled some supplier firms to ignore labour laws, engage workers in unsafe and unacceptable conditions, demand exhaustive working hours and deny workers their fundamental rights; recalls that these practices create unfair competition for suppliers that are compliant with labour laws and international labour standards and for governments that want to improve wages and living standards; concludes therefore that mutual respect for labour and environmental standards is an indispensable tool to ensure there is no race to the bottom; calls on the Commission to improve conditions in GVC in close cooperation with the ILOs; emphasises that the EU’'s further integration into GVCs must be driven by the dual principles of safeguarding the European social and regulatory model and securing and creating sustainable and equitable growth and decent jobs in the EU and for its partners;
Amendment 165 #
2015/2105(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Underlines that the emergence of GVCs has also led to a substantial increase of imported components in exports; consequently there are less incentives for countries to levy high tariffs as trade policy should not just open up exports, but also facilitate imports in order to stabilise value chains without prejudice to the legitimate use of trade defence instruments;
Amendment 167 #
2015/2105(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Believes that trade policy must ensure a transparent production process throughout the value chain, as well as compliance with fundamental environment, animal welfare, social and safety standards; stresses the need for mandatory due diligence throughout the supply chain; welcomes the Commission’'s desire to work closely with the ILO and the OECD to develop a global approach to improving working conditions especially in the garment sector; underlines the importance of identifying and assessing new sectoral or geographic opportunities for additional responsible supply chain partnerships; looks forward to the Commission’'s upcoming communication on CSR; and calls on the Commission to move from voluntary initiatives to binding obligations;
Amendment 187 #
2015/2105(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls on the Commission not to request provisional application of trade agreements, including trade chapters of association agreements, before European Parliament gives its consent; recalls that it cwould seriously undermine Parliament’'s rights and create potential legal uncertainty vis-à- vis the agreement’'s other signatory and the economic operators concerned; recalls and welcomes the Trade Commissioner's commitments in this regard but strongly urges to formalise this arrangement in the new inter-institutional agreement;
Amendment 192 #
2015/2105(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Insists that the monitoring, evaluation and follow-up of existing agreements become a key priority of the CCP; calls on the Commission to reallocate resources in order to enable DG Trade to better monitor trade agreements which need to be implemented considering the growing negotiating agenda;
Amendment 195 #
2015/2105(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Calls on the Commission to improve the quality and accuracy of both ex-ante and ex- post assessments and to review their methodology; stresses the need to always submit a deep sustainability impact assessment, including on human, social and environmental rights, for any trade policy initiative, in particular in light of the recent Ombudsman's recommendation in complaint 1409/2014/JN on the EU-Vietnam FTA; welcomes the commitment of the Commission to undertake in-depth analysis of the potential effects of new FTAs on LDCs and calls on the Commission to put forward measures to ensure that the benefits of trade accrue to developing countries; expresses its concern at the lack of interim and ex-post assessments and that the quality of the existing ones is very low, as demonstrated in the European Court of Auditors Special Report 02/2014; insists that high-quality interim and ex-post evaluations be carried out in respect of all trade agreements in order to allow policymakers, stakeholders and European taxpayers to assess whether trade agreements have achieved the intended results; asks the Commission to provide data on the impact of the trade agreements which have been concluded with special regard to SMEs and the creation of decent jobs;
Amendment 209 #
2015/2105(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Notes that limited improvements were achieved at the 10th WTO Ministerial Conference in Nairobi in 2015; recognises the differences among WTO members on how to proceed as regards the Doha Round, including the need to consider new approaches to solve outstanding issues; welcomes the interest of some WTO members in starting to address new negotiating areas; believes that the outcome of the Nairobi Ministerial Conference provides an opportunity to give new life to the WTO’'s negotiating function; urges the Commission to take the initiative in reforming and strengthening the WTO in order to ensure greater effectiveness, transparency and accountability including by strengthening coordination with the ILO and other Environment and Human rights related UN Agencies;
Amendment 213 #
2015/2105(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Believes that it is vital to conclude the longstanding Doha Round with its developing mandates fulfilled; recalls the crucial role of Aid for Trade (AfT) in trade-related capacity building and technical assistance to developing countries and LDCs; in this regard, calls on the EU and its Member States to commit to increase AfT, enabling developing countries to benefit from a bigger share of the value added in GVCs; calls on the Commission to address fair and ethical trade in the upcoming revision of Aid for Trade strategy; welcomes the EU engagement of targeting EUR 400 million in funding over 5 years to support and provide technical assistance to developing countries, especially LDCs, in their efforts to implement the WTO Trade Facilitation Agreement;
Amendment 217 #
2015/2105(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Considers plurilateral negotiations within the WTO such as the Information Technology Agreement and the Environmental Goods Agreements to be the second-best option; emphasises that trade policy should also be used as a tool for increasing the competiveness of environmentally beneficial products; stresses the importance of maintaining an open door of any plurilateral initiative so interested WTO members can join and of multilateralising the ‘'green goods’' initiative and of considering whether bilateral or unilateral trade agreements could provide premium preferences for environmental goods;
Amendment 223 #
2015/2105(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Calls for a strong and effective parliamentary dimension of the WTO in order to enhance the transparency of the organisation and to strengthen the democratic legitimacy of global trade policy; urges the WTO to make full use of the Parliamentary Conference on the WTO, ensuring that parliamentarians have access to all the information they need to carry out their oversight role effectively and contribute meaningfully to trade policies;
Amendment 225 #
2015/2105(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Calls on the Commission to focus in a balanced way on the conclusion of the on-going trade negotiations while being mindful of their cumulative effects, in particular via the different rules of origin, and finding an appropriate balance between protecting sensitive agricultural sectors and the offensive interests of the Union as one of the biggest agri-food exporters , and to show the potential benefits of the concluded trade agreements before launching new FTA negotiations; reminds the Commission to carry out a thorough, impartial and unprejudiced ex- ante evaluation of European interests before deciding on future FTA partners and negotiation mandates;
Amendment 252 #
2015/2105(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Underlines, in the context of the current talks on the Transatlantic Trade and Investment Partnership (TTIP) and the EU- Japan FTA, the high importance of focusing on core soffensitive issuenterests such as the protection of geographical indications (GIs) and public procurement when negotiating FTAs as part of ambitious, balanced and comprehensive packages;
Amendment 265 #
2015/2105(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Insists that trade negotiations follow a tailor-made regional trade strategy, in particular vis-à-viswithin Asia, Africa and Latin America, which have been identified by the Commission as crucial regions for European economic interests; recalls that Europe and Latin America are natural allies with a combined population of one billion people generating a quarter of global GNP; points out that the potential of this partnership has been insufficiently exploited; welcomes the fact that the Commission’'s new trade and investment strategy puts a key focus on Latin America;
Amendment 275 #
2015/2105(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Calls on the Commission to start negotiations for an investment agreement with Taiwan in parallel with the one with China; underlines that, in the context of the migration challenges, special focus should be put on the post-Cotonou framework and regrets that this aspect was not mentioned in the communication; asks for further impetus to be given to negotiating FTAs with both Australia and New Zealand;
Amendment 278 #
2015/2105(INI)
Motion for a resolution
Paragraph 28 a (new)
Paragraph 28 a (new)
28a. Stresses the importance of deepening and redefining the EU's relationships with its partners on the African continent and in the Caribbean and Pacific region; regrets that the communication "Trade for All" does not make any reference to the Cotonou Agreement, which expires in 2020, and stresses that the human rights clauses in the EPAs and trade agreements with a link to the Cotonou Agreement should not lose their effect after the 2020 expiration date; calls on the EU to engage in a broad consultation and dialogue process, including with ACP countries, about the post-Cotonou framework;
Amendment 287 #
2015/2105(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Stresses that further trade liberalisation measures require the EU to be able to respond even more effectively to unfair trading practices and ensure a level playing field; underlines that TDIs must remain an indispensable component of the EU’'s trade strategy; recalls that the current EU trade defence legislation dates back to 1995; stresses that the Union’'s trade defence system needs to be modernised urgently; points out that EU trade defence law must be more effective, adapted to today’'s challenges and trade patterns, investigations must be shorter, and also increase transparency and predictability; regdeplorets that the TDI modernisation proposal is blocked in the CouncilCouncil has been unable to deliver on this essential piece of legislation; regrets that the Commission does not refer at all to the need for TDI modernisation in its ‘'Trade for All’' communication; calls on the Council to boost its effortsreak the stalemate regarding TDI modernisation urgently on the basis of the European Parliament's position, especially at a time when China is firmly requesting recognition of MES, and asks the Commission to present a new proposal;
Amendment 292 #
2015/2105(INI)
Motion for a resolution
Paragraph 29 a (new)
Paragraph 29 a (new)
29a. Calls on the Commission to quicken the pace of investigations in order to accelerate the adoption of provisional and definitive trade defence measures, to open investigations "ex officio" and to impose measures on the ground of the "threat of injury" where the evidence justifies this, to eliminate the lesser duty rule which is not an obligation under WTO law, and to allow all European social partners, including not only business leaders but also trade unions, to urge the Commission to open anti-dumping investigations;
Amendment 303 #
2015/2105(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. Calls on the Commission not to take any measures without a prior deep and comprehensive impact assessment tackling all the possible effects and consequences on employment, growth and the environment; recalls that it is fundamental that the Commission coordinates closely with other WTO partners on the issue;
Amendment 305 #
2015/2105(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Regrets that not enough hasConsiders that more needs to been done to comprehensively address European industries’' needs and that the EU manufacturing sector is too often placed behind the services and financial sectors; emphasises that trade policy must ensure a level playing field for European industry, provide access to new and emerging markets and facilitate upward convergence on standards while reducing double certification; calls on the Commission to ensure coherence between the EU’'s trade and industrial policies and to promote the development and competitiveness of European industry with particular reference to the reindustrialisation strategy;
Amendment 309 #
2015/2105(INI)
Motion for a resolution
Paragraph 33 a (new)
Paragraph 33 a (new)
33a. Recalls the importance of GIs in promoting traditional European agri-food products, protecting them from harmful free-riding practices, guaranteeing consumers´ rights and conscious choices, and safeguarding rural producers and farmers, with particular reference to SMEs;
Amendment 310 #
2015/2105(INI)
Motion for a resolution
Paragraph 33 b (new)
Paragraph 33 b (new)
33b. Acknowledges the success story of GIs in protecting European workers and producers from unfair practices and therefore calls on the Commission to extend GIs to non-agri products;
Amendment 313 #
2015/2105(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
34. Recalls that the EU plays a leading role in the services sector; stresses that the opening up of new market opportunities must be an essential element of the EU’'s international trade strategy; stresses that including services in trade agreements is of the utmost importance, as it gives opportunities to European companies and domestic employees; while also excluding, in line with Articles 14 and 106 TFEU and Protocol 26, current and future services of general interest and services of general economic interest from the scope of application of any agreement; fully reiterates its recommendations for the negotiations of a Trade in Services Agreement in this regard with the emphasis on the ultimate goal of a multilateral agreement;
Amendment 324 #
2015/2105(INI)
Motion for a resolution
Paragraph 35
Paragraph 35
35. Shares the Commission’s viewConsiders that the temporary movement of professionals has become essentialis a factor to increasing business internationally; stresses that a labour mobility chapter should be included in all EU trade and investment agreements; recalls however that Mode 4 commitments must only apply to the movement of highly skilled professionals for a specific purpose, for a limited period of time and under precise conditions stipulated by the domestic legislation of the country where the service is performed and by a contract respecting such domestic legislation while ensuring that nothing will prevent the EU and its Member States from maintaining and improving labour standards and collective agreements";
Amendment 329 #
2015/2105(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. Welcomes the Commission’'s intention to use trade policy to tackle new forms of digital protectionism and to set rules for e-commerce and cross-border data flows in compliance with EU data protection and privacy law and safeguarding fundamental rights; believes that much more needs to be done to create a climate favourable to e-commerce and entrepreneurship within the EU; stresses that ensuring regulatory cooperation, reducing online fraud, mutual recognition and harmonisation of standards in the digital trade sector is vital;
Amendment 338 #
2015/2105(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. Is aware that the inclusion of provisions relating to financial services in trade agreements has raised concerns regarding their potential negative effects where money laundering, tax evasion and avoidance are concerned; supports the Commission in its fight against corruption; insists that clauses on corruption, money laundering and tax fraud be included in all trade and investmentthe Commission and Member States address anti money laundering, anti-corruption and anti-tax evasion and tax avoidance rules, including country-by- country reporting obligations and automatic exchange of information in appropriate international agreements;
Amendment 345 #
2015/2105(INI)
Motion for a resolution
Paragraph 38
Paragraph 38
38. Emphasises that a forward-looking trade policy must pay greater attention to the specific needs of SMEs and ensure that they can fully benefit from trade and investment agreements; recalls that only a small share of European SMEs are able to identify and exploit the opportunities that globalisation and trade liberalisation offer; notes that only 13 % of European SMEs have been internationally active outside the EU but recognises that SMEs already account for one third of EU exports; supports initiatives to facilitate the internationalisation of European SMEs , therefore insists on the benefits of a Chapter on SMEs in all future FTAs, also, but believes that new ways need to be explored on how to better assist SMEs in their sale of goods and services abroad; stresses that SMEs need more tailor-made support, starting in Member States;
Amendment 347 #
2015/2105(INI)
Motion for a resolution
Paragraph 38 a (new)
Paragraph 38 a (new)
38a. Asks the Commission to better support the internationalisation of SMEs by developing specific and clear guidebooks for SMEs about the opportunities and benefits offered by each trade agreement concluded by the EU;
Amendment 351 #
2015/2105(INI)
Motion for a resolution
Paragraph 39 a (new)
Paragraph 39 a (new)
39a. Reminds with regard to regulatory cooperation that the corresponding mechanisms must be based on enhanced information exchange and improved adoption and implementation of international instruments and lead to increased convergence on international technical standards whilst under no circumstances undermining or delaying the democratically legitimised decision- making procedures of any trading partner;
Amendment 354 #
2015/2105(INI)
Motion for a resolution
Paragraph 41
Paragraph 41
41. Calls on the Commission to assess and improve the existing tools regarding subsidiarity, non-duplication and complementarity in relation to respective Member State programmes and European value-added before developing further instrumentstand-alone actions to support the internationalisation of SMEs; stresses that the Commission should submit an independent evaluation of all the existing programmes to Parliament;
Amendment 370 #
2015/2105(INI)
Motion for a resolution
Paragraph 43 a (new)
Paragraph 43 a (new)
43a. Emphasizes that the EU investment policy has to tackle broader issues than merely investment protection but addressing also investment facilitation and governance, thus, ensuring foreign direct investment serves the recently adopted Sustainable Development Goals; considers investor obligations based on inter alia the OECD Guidelines for Multinational Enterprises on Corporate Social responsibility and the UN Guiding Principles on Business and Human Rights an indispensable part if a such an investment policy; urges Member States to work towards progress within the UN on the elaboration of a legally binding instrument on business and human rights;
Amendment 373 #
2015/2105(INI)
Motion for a resolution
Paragraph 43 b (new)
Paragraph 43 b (new)
43b. Considers the connection between trade and investment agreements and double taxation treaties to be seriously underexplored and calls on the Commission to study closely any effects such tools may have on each other and on wider policy coherence in the fight against tax evasion;
Amendment 375 #
2015/2105(INI)
Motion for a resolution
Paragraph 44
Paragraph 44
44. Calls for the elimination of the current imbalances as regards the degree of openness of public procurement markets between the EU and other trading partners; calls on the Commission to go even further in seeking an ambitious and reciprocal opening up of international public procurement markets, while guaranteeing the exclusion of services of general economic interests and making sure states remain free to adopt qualitative rules for their procurement procedures including social and environmental criteria; stresses that European economic operators, but especially European SMEs, need better access to public contracts in third countries;
Amendment 382 #
2015/2105(INI)
Motion for a resolution
Paragraph 45
Paragraph 45
45. Welcomes the Commission’'s amended proposal for a regulation on the access of third-country goods and services to the Union’'s internal market in public procurement, which is an important tool for ensuring a level playing field in the market access of third countries and strongly regrets that Member States governments have been holding up the original proposal; calls on the Commission to achieve reciprocity in access to public procurement markets with all trading partners;
Amendment 392 #
2015/2105(INI)
Motion for a resolution
Paragraph 47
Paragraph 47
47. BelievEmphasises that better harmonized and more efficient customs procedures in Europe and abroad could help to facilitate trade, to meet respective trade facilitation requirements, and to fight against forgeries, illegal and counterfeiting of goods entering in the single market, which distortundermines EU economic growth and seriously exposes EU consumers; welcomes the Commission’'s intention to enhance cooperation between customs authorities; calls once more on the Commission and the Members States to set up a unified EU customs service for a more effective application of customs rules and procedures throughout the customs territory of the EU;
Amendment 394 #
2015/2105(INI)
Motion for a resolution
Paragraph 48
Paragraph 48
48. Underlines that trade agreements and the decline in tariff rates that follows expose customs to greater security and protection concerns; emphasises that adequate communication and strong coordination is essential; Customs agencies should treat trade transactions involving non-cooperative tax jurisdictions with the highest level of scrutiny;
Amendment 404 #
2015/2105(INI)
Motion for a resolution
Paragraph 50
Paragraph 50
50. Shares the OECD’'s view that open trade and investment policies need a range of effective flanking policies in order to maximise the gains and minimise the losses; urges the Members States and the Commission to do much more to complement trade opening by a range of supporting measures in order to ensure inclusive growth – such as education, active labour market policies, public investment, supporting research and development, infrastructure development and social protection;
Amendment 410 #
2015/2105(INI)
Motion for a resolution
Paragraph 51
Paragraph 51
51. Calls on the Commission and the Member States to conduct thorough ex ante and ex post analysis on the basis of sector-by-sector and regional impact assessments for all trade agreements and relevant legislative files to anticipate negative effects on the labour market within the Union and to find more sophisticated ways of introducing mitigating measures to redevelop industries and regions that lose out, with a view to achieving a more equitable distribution of and ensuring broad-based gains from trade; emphasises that in this respect the European Structural and Investment Funds, and in particular both the European Regional Development Fund and the European Social Fund, can play an outstanding role; points out that the European Globalisation Adjustment Fund could also be an important instrument if reformed and shaped in a way that it is adequately funded;
Amendment 413 #
2015/2105(INI)
Motion for a resolution
Paragraph 51 a (new)
Paragraph 51 a (new)
51a. Points out that the European Globalisation Adjustment Fund could also be an important instrument; believes however that the current use of the EGF to tame the adverse impacts in some sectors resulting from increased international competition is not satisfactory; stresses that this instrument should be reformed and adequately funded whereby it proactively anticipates risks and adaptation of sectorial, regional and national production structures in cases in which the sustainable impact assessment indicates that these might be endangered as a consequence of trade agreements;
Amendment 6 #
2015/2058(INI)
Motion for a resolution
Recital A
Recital A
A. whereas illicit financial flows (IFFs), i.e. all unrecorded private financial outflows involving capital that is illegally earned, transferred or utilised, typically originate from tax evasion activities, trade misinvoicing and abusive transfer pricing, against the principle that taxes should be paid where profits have been generated, and tax evasion and avoidance have been identified as major obstacles to the mobilisation of domestic revenue for development by all major international texts and conferences on financing for development;
Amendment 34 #
2015/2058(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas the need for an increase of domestic revenues has become more pressing due to the financial and economic crisis;
Amendment 35 #
2015/2058(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
Eb. whereas the amount of resources raised by developing countries through domestic revenue mobilisation has been increasing steadily, and important progress has been done in this field with the aid of international donors;
Amendment 40 #
2015/2058(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas developing countries still rely heavily on taxes from trade, which exposes national budgets to volatile commodity price, and are having difficulties in compensating for the decline in trade taxes resulting from the current global context of trade liberalisation, and in shifting to other types of domestic resources;
Amendment 44 #
2015/2058(INI)
Motion for a resolution
Recital F b (new)
Recital F b (new)
Fb. whereas corporate tax revenues constitute a significant share of developing countries' national income, and in the past years developing countries have continually lowered corporate tax rates;
Amendment 47 #
2015/2058(INI)
Motion for a resolution
Recital G
Recital G
G. whereas, comparatively speaking, developing countries raise substantially less revenue than advanced economies (with-a-tax to GDP ratio ranging between 10 to 20%, as opposed to 30 to 40% of OECD economies) and are characterised by extremely narrow tax bases, and there is considerable potential for increasing the tax-to-GDP ratio, especially in the least industrialised countries (LICs);
Amendment 52 #
2015/2058(INI)
Motion for a resolution
Recital H
Recital H
H. whereas developing countries have been offering various tax incentives and exemptions, which are not transparent and guided by proper cost-benefit analyses and often fail to attract real and sustainable investments, putting developing economies against each other, competing to offer the most favourable tax treatments, and leading to harmful tax competition and a ‘race to the bottom’ that brings greater benefit to multinational corporations (MNCs) than to developing countries;
Amendment 55 #
2015/2058(INI)
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. whereas tax havens and secrecy jurisdictions that allow banking or financial information to be kept private, combined with 'zero-tax' regimes to attract capital and revenues that should have been taxed in other countries generate harmful tax competition and particularly affect developing countries, with a loss of an estimated $189 billion of tax revenue annually;
Amendment 58 #
2015/2058(INI)
Motion for a resolution
Recital H b (new)
Recital H b (new)
Hb. whereas the fiscal treatment of mining investments varies across countries, and arrangements between developing countries' governments and extracting companies are usually ad hoc and negotiated without transparency and clear guidelines, with the risk of hampering tax collection;
Amendment 60 #
2015/2058(INI)
Motion for a resolution
Recital H c (new)
Recital H c (new)
Hc. whereas the existence of large informal sectors in developing countries' economies makes broad-based taxation next to impossible, and in countries where a large proportion of the population lives in poverty a considerable share of GDP is not taxable;
Amendment 68 #
2015/2058(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas the amount of aid in support of domestic resource mobilisation is still low, accounting for less than one percent of total ODA in 2011;
Amendment 70 #
2015/2058(INI)
Motion for a resolution
Recital I b (new)
Recital I b (new)
Amendment 72 #
2015/2058(INI)
Motion for a resolution
Recital J a (new)
Recital J a (new)
Ja. whereas the Committee of Experts on International Cooperation in Tax Matters is a subsidiary body of the Economic and Social Council which pays special attention to developing countries and countries with economies in transition;
Amendment 77 #
2015/2058(INI)
Motion for a resolution
Recital K a (new)
Recital K a (new)
Ka. whereas the European Investment Bank supports private companies in developing countries directly by providing loans, or indirectly by supporting financial intermediaries such as commercial banks and private equity funds, which then on-lend or invest in enterprises;
Amendment 84 #
2015/2058(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Insists that effective mobilisation of domestic resources and a strengthening of tax systems will be an indispensable factor in achieving the post-2015 framework that will replace the Millennium Development Goals (MDGs), which represents a viable strategy to overcome foreign aid dependency in the long term, and that efficient and fair tax systems are crucial for poverty reduction, fighting inequalities, good governance and state- building;
Amendment 89 #
2015/2058(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that tax avoidance and tax evasion represent a considerable financial loss for developing countries, and that taking appropriate measures at national, European and international level against these practices should be a top priority for the EU, taking into account the needs and constraints that developing countries face in gaining access to their tax revenues; considers that the EU should be taking a leading role in driving international efforts to combat tax havens, tax fraud and evasion, leading by example; and that it should cooperate with developing countries in counteracting aggressive tax avoidance practices by certain transnational companies, as well as in seeking ways to help them withstand pressures to engage in tax competition;
Amendment 94 #
2015/2058(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Urges the Commission to support developing countries and regional tax administration frameworks, such as the African Tax Administration Forum and the Inter-American Centre of Tax Administrations, in the fight against tax dodging, in developing fairer tax policies, in promoting administrative reforms and in order to increase the share, in terms of aid and development, of financial and technical assistance to the national tax administrations of developing countries;
Amendment 102 #
2015/2058(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Asks the Commission to give good governance in tax matters and fair tax collection a high place on the agenda in its policy dialogue (political, development and trade) and in all development cooperation agreements with partner countries, enhancing ownership and domestic accountability by fostering an environment where national parliaments are enabled to meaningfully contribute to the formulation and oversight of national budgets, including on domestic revenues and tax matters, and supporting the role of civil society in ensuring public scrutiny of tax governance and monitoring of cases of tax fraud, inter alia by setting up effective systems for protecting whistleblowers and journalistic sources;
Amendment 108 #
2015/2058(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Urges that information on beneficial ownership of companies, trusts and other institutions be made publicly available in open-data formats, in order to prevent anonymous shell companies and similar legal structures from being used to launder money, finance illegal activities or terrorist activities, conceal the identity of corrupt and criminal individuals, hide the theft of public funds and profits from illegal traffic and illegal tax evasion;
Amendment 115 #
2015/2058(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Calls on the EU and the Member States to enforce the principle that multinational companies, and especially those companies extracting natural resources, must adopt country-by-country reporting (CBCR) as standard, requiring them to publish as part of their annual report on a country-by-country basis for each territory in which they operate the names of all subsidiaries, their financial performance, relevant tax information, assets and number of employees, and to ensure that this information is publicly available; calls on the OECD to recommend that its proposed CBCR template should be made public by all MNCs, to ensure that all tax authorities in all countries are able to access thorough information so they can assess transfer pricing risks and determine the most effective way to deploy audit resources;
Amendment 127 #
2015/2058(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the adoption of an Automatic Exchange of Information mechanism, a fundamental tool for enhancing global transparency and cooperation in the fight against tax avoidance and tax evasion; acknowledges, however, that support and time is needed for developing countries to build the required capacity to send and process information; therefore stresses the importance of ensuring that the new OECD Global Standard on Automatic Exchange of Information include a transition period for developing countries, recognising that by making this standard reciprocal, those countries that do not have the resources and capacity to set up the necessary infrastructure to collect, manage and share the required information might effectively be excluded; moreover, considers that a single standard on confidentiality should be envisaged;
Amendment 142 #
2015/2058(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. UStrongly supports the range of existing international initiatives to reform the global system, with a focus on the increased participation of developing countries in the structures and procedures of international tax cooperation; urges the EU and the Member States to ensure that the UN taxation committee is transformed into a genuine intergovernmental body equipped with additional resources, ensuring that developing countries can participate equally in the global reform of existing international tax rules;
Amendment 148 #
2015/2058(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that gender analysis should be made central to tax justice, recognising that while tax evasion has an impact on the welfare of individuals across the world, it is especially damaging to poor and lower- income households, in many of which women are disproportionately represented;
Amendment 154 #
2015/2058(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls on the EIB to ensure that companies that receive EIB support do not participate in tax evasion and avoidance via offshore centres and tax havens, and to increase its transparency policy by, for example, making publicly available all of its reports and investigations;
Amendment 29 #
2015/2044(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas eradicating poverty and inequality can only be achieved by mobilising sufficient and appropriate resources for all, and better targeting marginalized groups, such as children, women, elderly people or persons with disabilities; whereas despite a significant reduction in extreme poverty, progress for children has been slower making the need for investing in children - both through domestic resources mobilisation and international public financing- a key factor to create enabling environments for sustained and equitable long-term growth;
Amendment 30 #
2015/2044(INI)
Motion for a resolution
Recital C b (new)
Recital C b (new)
Cb. whereas most of the world's poor people are now in middle-income countries; a new development paradigm therefore requires programmes targeted both for poor people and poor countries;
Amendment 32 #
2015/2044(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas the implementation of the post-2015 agenda requires both financial and non-financial means;
Amendment 47 #
2015/2044(INI)
Motion for a resolution
Recital H
Recital H
H. whereas very few developed countries are fulfilling their commitment of providing 0.7 % of Gross National Income (GNI) as ODA, including 0.15-0.20 % of GNI to Least Developed Countries (LDCs); whereas Member States which joined the EU in 2004 or later have committed to strive to the target 0.33 % of GNI, but none of them has yet reached this target;
Amendment 56 #
2015/2044(INI)
Motion for a resolution
Recital I
Recital I
I. whereas the private investment of major direct value for the pursuit of the SDGs has huge potentialsector, when properly regulated, has an important role on the implementation of the SDGs while respecting its global principles and accountability mechanisms, with the objective to tackle poverty, inequality and achieving inclusive and sustainable growth in developing countries; whereas private investment, in particular, has huge potential for the pursuit of the SDGs and can be encouraged in many ways, as reflected in UNCTAD’'s proposal for an Action Plan for SDG investment;
Amendment 64 #
2015/2044(INI)
Motion for a resolution
Recital J a (new)
Recital J a (new)
Ja. whereas civil society plays a key role in ensuring a universal and inclusive process, both at national and at global level, and contributes to good governance and accountability;
Amendment 74 #
2015/2044(INI)
Motion for a resolution
Recital K
Recital K
K. whereas the EU and its Member States, as the largest donors of development aid, must lead the FfD process and help bring about a credible response to the development finance challenges, ensuring policy coherence for development;
Amendment 83 #
2015/2044(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the UN Secretary-General’'s Synthesis Report and its transformative, universal, holistic and integrated approach to an ambitious global partnership; insists that without comprehensive and substantial means of implementation such an ambitious partnership will not be successful;
Amendment 87 #
2015/2044(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Welcomes the Zero Draft of the Outcome Document of the Third Financing for Development Conference and calls on the EU and its Member States to support it;
Amendment 89 #
2015/2044(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Urges the EU to lead the preparatory processes towards a renewed agreement on financing for development, the definition of a sustainable development framework and its means of implementation along the commitments and values stated in its founding Treaties;
Amendment 111 #
2015/2044(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Supports innovative sources of additional development and climate finance, including financial transaction taxes and, carbon taxes on international aviation and maritime transport and automatic allocation of carbon market revenues; welcomes further European and international efforts to identify other additional sources;
Amendment 121 #
2015/2044(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Emphasises that ODA should remain the standard measure of financial efforts made; supports the inclusion of concessional loans based on calculation of their grant equivalents, despite due consideration of total official support for development, despite due consideration of total official support for development; notes that while most ODA is provided in the form of grants, concessional loans are an important part of it, despite the need for their impact assessment; welcomes the agreement by the OECD-DAC to modernise the reporting of concessional loans by introducing a grant equivalent system for the purpose of calculating ODA figures;
Amendment 134 #
2015/2044(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for the EU and its Member States to promote an aid effectiveness agenda by reducing aid fragmentation through greater coordination between different aid mechanisms and donors and ensuring that all development finance is pro-poor, gender-sensitive, environmentally sound and climate-proof;
Amendment 141 #
2015/2044(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Underlines that ODA should prioritise basic social services for all and 'public goods' that are less effectively provided by the private sector, such as primary education, social safety nets, health care and infrastructure for sanitation and water supply; stresses that accessibility should be a key criteria in international public financing to promote universal and inclusive services and infrastructures;
Amendment 143 #
2015/2044(INI)
Motion for a resolution
Paragraph 9 b (new)
Paragraph 9 b (new)
9b. Highlights the importance of development banks mobilising additional funds for reducing the gap in infrastructures funding and access to credit in developing countries;
Amendment 152 #
2015/2044(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Encourages the Commission to strengthen the areas of tax administration, financial governance and public financial management through enhanced cooperation and capacity building in developing countries; stresses the need to accelerate and scale-up on-going efforts to improve budgetary reporting and calls for increased harmonisation of budgetary reporting practices across countries;
Amendment 160 #
2015/2044(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls for the EU and its Member States to actively crack down on tax havens, tax evasion and illicit financial flows; encourages the automatic exchange of tax information with developing countries and the elaboration of public registers of beneficial ownership; supports the setting- up of an intergovernmental body for tax cooperation under the auspices of the UN;
Amendment 169 #
2015/2044(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Stresses the decisive importance of good governance, human rights protection, the rule of law, institutional framework and regulatory instruments; especially supports investment in capacity- building, inclusive education, and health, nutrition, public services, and social protection for all, and the fight against poverty and inequality, including among children and in terms of gender; recognises the need for accessible infrastructures and selective public investments, as well as the sustainable use of natural resources, including by the extractive industries;
Amendment 178 #
2015/2044(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Stresses that financing for development must strengthen the resources available to promote gender equality, women’s rights and women’s empowerment; emphasises that this should include both targeted investments in key sectors such as health and education and steps to ensure all development finance takes full account of the situation of women and girls;
Amendment 185 #
2015/2044(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls for greater financing of research and development in science, technology and innovation in developing countries, while recognising that this financing should be both domestic and international; urges the promotion of research and development that can advance progress against complex challenges and towards global public goods, such as technology and innovation for health;
Amendment 189 #
2015/2044(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Recognises the role of local authorities in the implementation of the SDGs which requires the allocation of the necessary means;
Amendment 201 #
2015/2044(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Stresses the importance of favourable conditions for private enterprise in developing countries; calls for alignment of the private sector with the sustainable development goals through appropriate partnerships, financial instruments, incentives, accountability framework and Corporate Social Responsibility (CSR); recalls the need to comply with agreed international standards such as the International Labour Organization (ILO) standards and the UN Guiding Principles on Business and Human Rights;
Amendment 219 #
2015/2044(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls for the EU to set up a regulatory framework that stimulates responsible, transparent and accountable investment which contributes to the development of thea socially conscious private sector in developing countries;
Amendment 230 #
2015/2044(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Calls for the adoption of an ‘SDG partner’ frameworkclear guidelines for blending projects and public- private partnerships (PPPs) that willo ensure that such projects deliver the desired development outcomes and respect the best international practices and the internationally agreed development effectiveness principles; suggests the adoption of an ‘SDG partner’ label for those projects that fulfil the best practices requirements;
Amendment 242 #
2015/2044(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Recalls the role of civil society, including NGOs, as an essential development partner for a more inclusive and accountable implementation of the post-2015 agenda; calls for an increased civil society voice in the discussions of development priorities and, the set-up of operations on the ground and the development of accountability mechanisms; calls for increased consultation of young people in the discussions for the post-2015 agenda, namely through innovative communication technologies;
Amendment 251 #
2015/2044(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Recalls the UN’s central role, in complementarity with other existing institutions and forums, in global economic governance and development; supportscalls for more efforts to further enhance the voice and equal representation of developing countries in multilateral institutions and other norm- and standard-setting bodies;
Amendment 258 #
2015/2044(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Welcomes the international efforts to relieve the international debt obligations of Ebola-affected countries in order to help them face the economic crises caused by the epidemic;
Amendment 262 #
2015/2044(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Calls for a review of international organisations’ programmes and instruments of financial assistance for development in order to align them with the new SDGs; urges, notably, the European Investment Bank, the International Monetary Fund and the World Bank to increase low-income countries’ levels of access to their concessional facilities and to gear their resources more closely to the needs of developing countries, including through mutually effective pro-poor lending facilities; calls notably for an increase in the amounts of concessional facilities available to the European Investment Bank, beyond its current mandates, in order to further increase its funding to low-income countries;
Amendment 265 #
2015/2044(INI)
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26a. Calls for an international initiative to improve the quality of statistics, data and information in order to track spending, investment and progress on specific commitments and objectives; welcomes global efforts to ensure the implementation of the SDGs uses data that is sufficiently disaggregated for income, gender, age and other indicators, so that the impact of the policies guided by the SDGs can be effectively monitored;
Amendment 284 #
2015/2044(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Calls for an agreement at the Addis Ababa conference on a robust, transparent and accessible monitoring and accountability framework for effective follow-up of the implementation of the SDG commitments and objectives; calls for an international initiative to improve the quality of statistics, data and information; asks all parties to ensure transparent and efficient implementation of aid and financing, in particular by signing and effectively implementing the provisions of the UN Convention against Corruption and by committing to systematically publish accurate, timely and comparable revenue and expenditure data as well as budget documents;
Amendment 1 #
2015/2041(INI)
Motion for a resolution
Citation 1
Citation 1
– having regard to its decision of 15 April 2014 on the modification of the inter- institutional agreement on the Transparency Register1 (EU lobby register); __________________ 1 Texts adopted, P7_TA(2014)0376.
Amendment 22 #
2015/2041(INI)
Motion for a resolution
Recital D
Recital D
D. whereas non-transparent, one-sided lobbying can poses a significant threat to the integrity of policy-makers, policy-making and to the public interest;
Amendment 28 #
2015/2041(INI)
Motion for a resolution
Subheading 1
Subheading 1
Introducing a legislative footprint, making the lobbtransparency register as mandatory as possible
Amendment 37 #
2015/2041(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Believes that the Commission, Parliament and the Council should record and discloseevaluate if all input received from lobbyists/interest representatives on draft policies, laws and amendments as a ‘legislative footprint’could be collected centrally, e.g. by the Committees’ secretariats, and made public online; suggests that thisa legislative footprint should consist of a formbe annexed to reports, detailing all the lobbyists with whom thoseconsisting of a form, detailing organizations with which the rapporteur in charge of a particular file have mets been in contact with in the process of drawing up each report and a second document listing all written input received;
Amendment 45 #
2015/2041(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls on the Commission to expand andfurther improve its existing initiative as laid out in its decision of 25 November 2014 on the publicby expanding the practice to meet only organizations of information onr self-employed individuals which are registered in the Transparency Register to all Commission staff; considers that the publication of scheduled meetings held between Members of the Commission and organiszations or self-employed individuals; considers that the recording of meeting data sh with the purpose of influencing EU-legislation could be expanded to include everyoneall Commission staff involved in the EU’s policy-making process, by publishing the Commission unit(s) and the external organisation(s) present at the meetings;
Amendment 70 #
2015/2041(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Suggests that the Code of Conduct should be amended so as to make it mandatory for rapporteurs and committee chairs toshould adopt the same practice of exclusively meeting lobbyists registered lobbyin the Transparency Registser and publish information on such meetings online and for rapporteurs to publish a legislative footprscheduled meetings having the purpose to influence EU-legislation onlinte;
Amendment 79 #
2015/2041(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 88 #
2015/2041(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Reiterates its longstanding call to back up the EU lobbtransparency register with a legal act, if it is not possible to close all loopholes and achieve a fully mandatory register for all lobbyists with an inter- institutional agreement; considers that the proposal for this legal act could take into account the progress achieved by changes in the inter- institutional agreement and Parliament’s Code of Conduct;
Amendment 94 #
2015/2041(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Reiterates its call to the Council to join the lobbtransparency register as soon as possible;
Amendment 101 #
2015/2041(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Considers lobby transparency through monthly reporting by lobbyists about their meetings as a keyof lobbying activities as an essential element for future EUa better legislationve process in the EU;
Amendment 104 #
2015/2041(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Considers that, when interpreting ‘inappropriate behaviour’ within thBelieves that the Rules of Procedure should be ameanded ing of point (b) of the Code of Conduct, this expression should be taken to include turning down formal invitations to hearings or committees without sufficient reasonrder to withdraw access badges to the European Parliament from representatives of organisations that have refused to cooperate with a parliamentary inquiry; believes that repeated incidents should lead to a temporary suspension from the EU transparency register;
Amendment 116 #
2015/2041(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Insists that registered law firms which are also active in lobbying should declare in the lobbtransparency register all clients on whose behalf they perform covered activities with the purpose of influencing EU- legislation; points out that law firms can only refer to the attorney client privilege when giving legal advice;
Amendment 124 #
2015/2041(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Asks the Bureau to restrict access to Parliament’s premises for non-registered organisations or individuals by makEmphasises that the European Parliament as the European citizens’ chamber should retaing all visitors to its premises sign a declaration that they are not lobbyists falling within the scope of the register or otherwise declare their n open door policy towards the citizens and that no unnecessary obstacles should be created, which could discourage citizens from visiting the European Parliament’s pregmistrationes;
Amendment 132 #
2015/2041(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Believes it to be necessary, as a matter of urgency, to introduce a proper monitoring system for submitted information in order to ensure that the information that registrants provide is meaningful, accurate, up-to-date and comprehensive; calls in this regard to substantially increase the resources of the Transparency Unit within the European Parliament and the Joint Transparency Register Secretariat;
Amendment 143 #
2015/2041(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Believes that at least 5 % of declarations should be checked by the Transparency Unit each year;
Amendment 154 #
2015/2041(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Believes that representations of national, regional and local governments should not fall under the EU lobby register if they have their own mandatory lobbtransparency register, and do not offer workspace for private or corporate actors within their representationss they are part of the EU’s multi-level system of governance;
Amendment 170 #
2015/2041(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Believes that the members of the Advisory Committee chosen from among Members of the European Parliament should be complemented by a majority of externally chosen members who must be qualified experts in the field of ethics regulation and should be drawn from an open call and include members of civil society; omposed of MEPs should be chosen according to their expertise, inter alia in accounting, legal affairs and ethics regulation; underlines that the composition of the Advisory Committee must at the same time reflect the political balance in the European Parliament, for example through a rotation system;
Amendment 183 #
2015/2041(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Believes that the Code of Conduct should be amended to additionally empower the enlarged Advisory Committee to adopt final decisions instead of the Presidentinitiate the procedure for investigating a possible breach of the code of conduct for MEPs, and to empower the Conference of Presidents to adopt final decisions instead of the President; requests that the Advisory Committee is informed about the final decision in due course;
Amendment 186 #
2015/2041(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Deems it necessary that the Advisory Committee has access to information and documents relevant to cases it has to examine, including the results of OLAF investigations;
Amendment 195 #
2015/2041(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Believes that the Rules of Procedure should be amended with regard to Members’ declarations of financial interests to task the Advisory Committee andintroduce more accurate categories for income from external sources and to task the supportive administration with factual checks in samples and to empower them to ask for proof where necessary;
Amendment 208 #
2015/2041(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Believes that Article 3 of the Code of Conduct for Members should be rephrased to include a clear ban on Members holding side jobs or other paid work that could lead to a conflict ofpaid work as a representative of special interests;
Amendment 222 #
2015/2041(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 248 #
2015/2041(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Believes that the Code of Conduct should be amended to provide for a three- yearan eighteen months ‘cooling-off period’ during which former Members may not engage in lobbying work in the area of their parliamentary responsibilitieshave to notify the European Parliament of any post-term-of-office occupation they intend to take up;
Amendment 261 #
2015/2041(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Believes that for Members of the Commission the ‘cooling-off period’ should be extended to three years and that a two-year cooling-off period should also apply to all Commission staff involved in the drafting or implementation of EU legislation or treaties, includall EU officials including temporary, contract agents and national experts must undergo full training contract staff how to deal with lobbyists;
Amendment 277 #
2015/2041(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Supports the Ombudsman’s call for entry in the lobbtransparency register to be made a requirement for appointment to expert groups provided that the Members concerned are not government officials and do not receive all or the vast majority of their other income from state institutions such as universities;
Amendment 290 #
2015/2041(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Considers control by Parliament of the financing of European political parties to be an unnecessary conflict of interestNotes that under Regulation No 1141/2014 applying from 1 January 2017 the total amount of Union funding awarded to the eligible European political parties and foundations is determined under the annual budgetary procedure and that the distribution between the eligible European political parties and foundations follows a fixed distribution key; notes further that the control with respect to Union funding is exercised by the independent Authority for European political parties and European political foundations on the basis of external audit reports, whose decisions may be the subject of court proceedings before the Court of Justice of the European Union;
Amendment 293 #
2015/2041(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 326 #
2015/2041(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Requests that the Commission make sure that non-EU actors which receive EU funds should be as aceffectively countable as EU institutions are wrols then spending such fundof EU funds by non-EU actors;
Amendment 342 #
2015/2041(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Believes, therefCalls for Council to improve the transparency of its worek, that preparatory meetings within the Council should be as public as meetings of Parliament’s committeesincluding by making its preparatory meetings public whenever appropriate;
Amendment 351 #
2015/2041(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
34. Believes that the chairs of Parliament’s committees should proactively publish minutes and all documents used in trialoguesInsists that Parliament’s negotiators in trilogues fulfil their obligation under Rule 73 (4) of the Rules of Procedure to report back to the following meeting of the responsible committee and to make documents available which reflect the outcome of the last trilogue; calls for both the oral report and the documents to contain information on the state of the trilogue negotiations; calls furthermore for a list of the dates of trilogue meetings and the names of the direct participants to be made publicly accessible;
Amendment 361 #
2015/2041(INI)
Motion for a resolution
Paragraph 35
Paragraph 35
35. Calls on the Presidency of the Council to include allonsiders that Parliament and the Council ought to provide for more transparency in trialogue documents in the documents register to allow for access in accs and conciliation procedures; recalls the need to improve the transparency of legislative negotiations and underlines the impordtance with Regulation (EC) No 1049/2001of publishing the progress of negotiations after each trilogue;
Amendment 369 #
2015/2041(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. TakWelcomes the view that Members should have access to all Commission documents, where necessary under exceptional circumstances through a reading roomagreement between the European Parliament and the European Commission of 2 December 2015, which gives Members full access to all documents with regards to the TTIP negotiations;
Amendment 378 #
2015/2041(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. Deems it unacceptable that Parliament has less, or less open,Members of the European Parliament have less access to documents in trade negotiations than some members of national parliaments;
Amendment 388 #
2015/2041(INI)
Motion for a resolution
Paragraph 39 a (new)
Paragraph 39 a (new)
39 a. Calls on the Council to publish the negotiation mandates for international trade negotiations;
Amendment 395 #
2015/2041(INI)
Motion for a resolution
Paragraph 40
Paragraph 40
40. Believes that, when the Commission engages in trade negotiations, it should publish the negotiation mandates, and all negotiating positions, all requests and offers and all consolidated draft negotiation texts prior to each negotiation round, so that the European Parliament and national parliaments, as well as civil society organisations and the wider public, can make recommendations thereon before the negotiations are closed for comments and the agreement goes to ratification; underlines that the Commission must also persuade negotiating partners to increase transparency at their end to make sure that this is a reciprocal process in which the EU's negotiating position is not compromised;
Amendment 422 #
2015/2041(INI)
Motion for a resolution
Paragraph 43
Paragraph 43
43. RegretNotes the Ombudsman’'s finding that mostsome EU institutions have not yet properly implemented rules to protect whistleblowers; points out that to date onlythe European Parliament, the Commission, the Ombudsman and the Court of Auditors have adopted such rules;
Amendment 426 #
2015/2041(INI)
Motion for a resolution
Paragraph 44
Paragraph 44
44. Believes effective whistleblower protection to be a key weapon against corruption and therefore reiterates its call to the Commisscalls on the Member States and the EU-institutions to prepare a whistleblower protection directive, including minimum Europe-wide standards of protectionensure the protection of whistleblowers on their respective level;
Amendment 440 #
2015/2041(INI)
Motion for a resolution
Paragraph 45
Paragraph 45
45. "Believes that the ongoing review of EU elecpolitical parties are best placed to contribute to the fight against corruption lawand should include a rule thattherefore play a stronger role on this issue by excluding persons found guilty of high-level corruption against the EU’'s financial interests or within Member States may not run for office in the next two terms of the European Parliamentfrom electoral lists for European elections";
Amendment 13 #
2015/2038(INI)
Motion for a resolution
Recital -A b (new)
Recital -A b (new)
-Ab. whereas the European Parliament acts as a co-legislator with respect to measures defining the framework for implementing the Union’s CCP; whereas the consent of the European Parliament is required for the ratification of every trade agreement negotiated by the Union; the implementation of the European Parliament’s recommendations is therefore necessary to ensure the success of any initiative undertaken by the European Commission in the field of the CCP;
Amendment 19 #
2015/2038(INI)
Motion for a resolution
Recital A
Recital A
A. whereas EU trade policies couldthe EU has the ability to contribute positively to the harmonisation process in the direction of implementation and development of human rights (HR), social and environmental sustainabigreater respect for human rights (HR) and sustainable development globally through its trade politcy; whereas it must be ensured that trade and investment agreements not reduce their ability to meet their HR obligations, which must prevail over investors and profits interests; whereas there is public concern about the detrimental impact on the concrete enjoyment of HR and labour standards of non-tariff barrier reduction; whereas the new generation of trade agreements risks acting as a back-door deregulation instrumentthis requires proactive and resolute action on the part of the European Commission; whereas trade and investment agreements may also be detrimental to human rights and sustainable development, and should therefore be designed in such a way as to support rather than hinder social and environmental progress;
Amendment 21 #
2015/2038(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas reformed trade defence measures can also provide an incentive for the EU’s trading partners to engage in sustainable development; whereas, unlike international agreements, this strategy has the potential to yield results through unilateral EU actions; whereas the European Parliament adopted an amendment to article 7.2 of Regulation (EU) 1225/2009 on protection against dumped imports in order to exempt EU trade defence measures from the ‘Lesser Duty Rule’, in full compliance with WTO rules, where ‘the exporting country does not have a sufficient level of social and environmental standards’; whereas this reform has been blocked in the Council of the European Union since November 2014;
Amendment 46 #
2015/2038(INI)
Motion for a resolution
Recital D c (new)
Recital D c (new)
Dc. whereas the European Commission’s 2015 ‘Trade for All’ strategy makes TSD a priority for the EU; whereas in order for this strategy to give proper impetus to the TSD agenda, the European Commission must now turn its much welcomed ambition into resolute and concrete actions;
Amendment 49 #
2015/2038(INI)
Motion for a resolution
Recital D e (new)
Recital D e (new)
De. whereas the implementation of the new EU General Scheme of Preferences’ special incentive arrangement for sustainable development and good governance (‘GSP+’) has also proven to be disappointing, in particular due to the absence of a credible deterrent; whereas the European Commission is bound by the GSP regulation to seek information on compliance with international labour and Human Rights conventions from their relevant monitoring bodies, but should not however externalise decision- making functions;
Amendment 74 #
2015/2038(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Calls on the Commission to make full use of the provisions of Regulation (EU) 978/2012 applying a scheme of generalised tariff preferences, with view to limit the scope for arbitrary decisions and enhance the credibility of GSP+ in adopting a delegated act to clarify the definitions of a ‘serious failure to effectively implement’ an international conventions and ‘serious and systematic violation of principles’ contained in an international convention;
Amendment 76 #
2015/2038(INI)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. In addition, calls on the European Commission to propose a revision of regulation (EU) 978/2012 in order to enhance the monitoring of the commitments undertaken by beneficiary countries; Social Partners should be given a formal role in GSP and GSP+ monitoring, and have the ability to directly lodge a complaint with the Commission in cases of non-compliance;
Amendment 136 #
2015/2038(INI)
Motion for a resolution
Paragraph 6 c (new)
Paragraph 6 c (new)
6c. Regrets the many discrepancies displayed by TSD chapters in the various EU trade agreements; calls on the European Commission to uphold the highest level of consistency in all trade negotiations, in particular when dealing with developing countries; calls in this respect for a common approach to be defined and implemented for HR and Sustainable Development monitoring with respect to ACP countries, in the framework of the Economic Partnership Agreements;
Amendment 142 #
2015/2038(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the Commission’s decision to carry out ex ante and ex post sustainability impact assessments (SIAs) for all trade agreements in accordance with the integrated guidelines, while noting their limited capacity to influence the concrete outcomes of the FTAs and IPAs; calls on the European Commission to ensure proper involvement of SCOs and Social Partners in the development of SIAs; recalls the need for the timely publication of SIAs in order to enable the public and its elected representatives to properly assess any proposed agreement;
Amendment 191 #
2015/2038(INI)
Motion for a resolution
Subheading 3
Subheading 3
Amendment 206 #
2015/2038(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Believes it is crucial to ensure increased access to information on the conduct of enterprises; considers it fundamental to introduce a mandatory reporting system and due diligence for EU companies that outsource their production to third countriesrecalls its position from 2010 to request companies to publish their CSR balance sheets and all undertakings to show due diligence;
Amendment 219 #
2015/2038(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Stresses that the effective implementation of these recommendations constitutes a crucial element in the European Parliament’s assessment of trade agreements negotiated by the European Commission; requests a detailed and timely response from the European Commission to all the items raised in this resolution;
Amendment 126 #
2015/2035(INL)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Proposes that the visibility of European political parties be enhanced by placing their names and logos on the ballot papers, and recommends that the same should also appear on television and radio campaign broadcasts, posters and other material used in European election campaigns, since those measures would render European elections more transparent and improve the democratic manner in which they are conducted, as citizens will be able to clearly link their vote with the impact it has on the size of a European political group in the European Parliament;
Amendment 159 #
2015/2035(INL)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Determines to set a common deadline for the nomination of lead candidates by European political parties 12 weeks in advance of European elections, so as to enable their electoral programmes to be presented, political debates between the candidates to be organised and EU-wide electoral campaigns to be mounted; considers that the process of nomination of lead candidates constitutes an important aspect of electoral campaigns due to the implicit link between the results of European elections and the selection of the Commission President as enshrined in the Treaty of Lisbon;
Amendment 235 #
2015/2035(INL)
Article 3 b (new)
Article 3a The ballot papers used in elections to the European Parliament shall include information concerning the affiliations of national parties with European political parties, where such affiliations exist. Member States shall encourage and facilitate the provision of such information in television and radio campaign broadcasts and on other electoral campaign materials.
Amendment 99 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 806/2014
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
(a) credit institutions established in a participating Member State, including those affiliated to an institutional protection scheme as referred to in Article 113(7) of Regulation No 575/2013;
Amendment 117 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point9
Article 1 – paragraph 1 – point9
Regulation (EU) No 806/2014
Article 19 – paragraphs 3 5 7 and 10
Article 19 – paragraphs 3 5 7 and 10
Amendment 208 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o –title
Article 41 o –title
Article 41o Repayment of funding and determination of excess loss and lossliquidity
Amendment 211 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 1
Article 41 o – paragraph 1
1. The participating DGS shall repay the fundingliquidity support provided by the Board under Article 41n, less the amount of any excess loss cover in case of coverage under Article 41a in accor dany loss cover in case of coverage under Article 41d orce with a repayment plan as referred to in paragraph 2 of this Article 41h.
Amendment 213 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 2
Article 41 o – paragraph 2
2. UntilWithin 3 monthsof the determinationof the insolvency or resolution procedure, the Board shall determine, on an annual basis, the amount the participating DGS has already recovered from the insolvency procedure or has already be referred to in Article 41m, the Board, after consulting the relevant designated authority, shall establish a repayment paid in accordance with Article 75 of Directive 2014/59/EU. The participating DGS shalllan that ensures that the funding provide tod by the Board all information necessary to make this determination. The participating DGS shall pay to the Board a share of that amount which corresponds to the share that is covered by EDIS in accordance with Article 41a, Article 41d or Article 41hunder Article 41n will be repaid in full within six years by the participating DGS.
Amendment 215 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 3
Article 41 o – paragraph 3
3. In case of coverage under Article 41a, the participating DGSshall also pay to the Board, by the end of the first calendar year after the funding was provided, an amount equal to the ex-post contributions that the participatingDGS may raise within one calendar year in accordance with the first sentence of the first subparagraph of Article 10(8) of Directive 2014/49/EU, less the amount of ex-post contributions it raised in accordance with point (b) of Article 41b(1) of this RegulationThe repayment plan initially shall, to the largest extent possible, be based on the expected funding from the sources referred to in paragraph 5.
Amendment 221 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 4
Article 41 o – paragraph 4
4. After the termination of the insolvency procedure or resolution procedure of the credit institution concerned, the Board shall without delay determine the excess loss in accordance with Article 41d or the loss in accordance with Article 41h. Where this determination results in arepayment obligation ofthe participating DGS that differs from the amounts repaid in accordance with the second and third paragraph, the difference shall be settled between the Board and the participating DGS without deThe following conditions for the repayment planshallapply: (a) the minimum annualrepayment bythe participating DGS shall be on average 10% of the funding provided by the Board under article 41n; and b) each year, the Board shall reassess the level of expected recoveries and recalibrate the repayment plan for the remaining years in accordance with that assessment, and assess any need to extend the repayment playn.
Amendment 223 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 4a (new)
Article 41 o – paragraph 4a (new)
4a. As long as a participating DGS has liquidity support outstanding with the DIF, at least 50% of any extraordinary contributions raised in accordance with Article 10(8) of Directive 2014/49/EU, at least 50% of any recoveries on the DGS’s claims pursuant to Article 9(2) of Directive 2014/49/EU and Article 75 of Directive 2014/59/EU, and at least 50% of any repayment of or income derived from measures taken in accordance with Article 109 of Directive 2014/59/EU or Article 11(3) and 11(6) of Directive 2014/49/EU shall be repaid to the DIF. This shall be reflected in the repayment plan.
Amendment 232 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 q a (new)
Article 41 q a (new)
Article 41qa Terms of loans provided by the DIF 1. The Board shall determine the key financial terms and conditions of the liquidity facility in a standardised agreement. 2. The Board and the participating DGS that has requested liquidity support in accordance with Article 41a shall enter into an agreement based on the standardized agreement as referred to in paragraph 1. 3. In case the participating DGS requests an extension of the maturity of the loan in accordance with Article 41o(7), an interest rate not higher than the ECB marginal facility rate may be charged until the remaining time to maturity of the loan.
Amendment 269 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 –subparagraph 1
Article 74 c – paragraph 5 –subparagraph 1
The Commission shall be empowered to adopt adelegated acts in accordance with Article 93 in order to specify a risk-based method for the calculation of contributions in accordance with paragraph 2 of this Article.
Amendment 270 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 –subparagraph 2
Article 74 c – paragraph 5 –subparagraph 2
Amendment 273 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 –subparagraph 3
Article 74 c – paragraph 5 –subparagraph 3
Amendment 278 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point34
Article 1 – paragraph 1 – point34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 –subparagraph 4 – introductory part
Article 74 c – paragraph 5 –subparagraph 4 – introductory part
Amendment 280 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) 806/2014
Article 74 c – paragraph 5 –subparagraph 4 – point d
Article 74 c – paragraph 5 –subparagraph 4 – point d
(d) the quality of the institution’s assets, including its level II and III assets;
Amendment 309 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 39 a (new)
Article 1 – paragraph 1 – point 39 a (new)
Regulation (EU) No 806/2014
Article 94 – paragraph 3 a (new)
Article 94 – paragraph 3 a (new)
39a. in Article 94, the following paragraph is added: 3a. By [insert one year after entry into force of this amending Regulation] the Commission shall review and assess the functioning of EDIS I and the transition to a fully mutualised insurance scheme that provides funding to and covers the losses of participating deposit guarantee schemes. It shall review the functioning of EDIS I in order to create a single European deposit insurance scheme, possibly backed by a publicly funded liquidity mechanism. The review shall assess in particular the following: (a) the adequacy of the funding mechanism and the target level of EDIS I, and the cases of use of the liquidity mechanism; (b) the scope of the measures financed by EDIS I under article 41a and by the entities referred to in Article 2(2), point (b); (c) the conditions for an extension of EDIS I from providing liquidity support to a loss coverage mechanism and its features; (d) the appropriateness of introducing a publicly funded backstop mechanism to support the DIF. By [insert one year after the date referred to in the first paragraph] the Commission shall submit a report to the European Parliament and the Council on the basis of this assessment. The report shall be accompanied by a legislative proposal, where appropriate.
Amendment 321 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 40
Article 1 – paragraph 1 – point 40
Regulation (EU) No 806/2014
Article 99 – paragraph 5 a
Article 99 – paragraph 5 a
5a. By way of derogation from paragraph 2, Article 1(2), Part IIa and Part III, Title V Chapter 2 Section 1a shall apply without undue delay and from [OP insert date of entry into force of this Regulation];
Amendment 7 #
2015/0218(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) Olive oil is Tunisia’s main agricultural export product to the Union and the olive oil industry is an important part of the country’s economy, as it is for some regions of certain Member States.
Amendment 10 #
2015/0218(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) The Union can best support Tunisia’s economy, in accordance with the objectives set out in the European Neighbourhood Policy and in the Euro- Mediterranean Agreement, by providing an attractive and reliable market for Tunisia’s exports of olive oil. This requires. As an exceptional response to a specific situation, emergency and temporary autonomous trade measures will be implemented, allowing for the import of this productolive oil into the Union on the basis of a duty free tariff quota.
Amendment 11 #
2015/0218(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) The Union can best support Tunisia’s economy, on a short term basis and in accordance with the objectives set out in the European Neighbourhood Policy and in the Euro- Mediterranean Agreement, by providing an attractive and reliable market for Tunisia’s exports of olive oil. This requires autonomous trade measures allowing for the import of this product into the Union on the basis of a duty free tariff quota, established for a maximum period of two years.
Amendment 15 #
2015/0218(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) In order to prevent fraud, and to ensure that the envisioned autonomous trade measures will really benefit the Tunisian economy, they should be subject to compliance by Tunisia with the Union’s relevant rules regarding the origin of products and the procedures related thereto, as well as to Tunisia’s effective administrative cooperation with the Union.
Amendment 17 #
2015/0218(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) In order to prevent fraud and to guarantee consumer rights and fair competition, the envisioned autonomous trade measures should be subject to compliance by Tunisia with the Union’s relevant rules regarding the origin of products and the procedures related thereto, as well as to Tunisia’s effective administrative cooperation with the Union.
Amendment 23 #
2015/0218(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) The specific autonomous trade measures established by this Regulation are intended to alleviate the difficult economic situation, which Tunisia is currently facing, due to the terrorist attacks. Those measures should therefore be limited in time and be without prejudice to the negotiations between the Union and Tunisia on the establishment of a Deep and Comprehensive Free Trade Area (DCFTA), which are to started in October 2015. An extension of the application period may be contemplated at the end of this period if warranted by the market situation or progress in the DCFTA negotiations.
Amendment 43 #
2015/0218(COD)
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
Before the end of 2016, the Commission shall carry out, and present to the European Parliament and to the Council, a mid-term impact assessment of the new tariff quota, in order to evaluate its effects on the economic and social stability in Tunisia, as well as its impact on the Union’s internal market and employment and, if appropriate, review those measures accordingly and assess the need for compensatory measures for Union olive oil producers.
Amendment 208 #
2014/2249(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Is of the opinion that intergovernmental solutions should not exist, not even in areas where not all the Member States fulfil the conditions for participation, and that the Fiscal Compact and the European Stability Mechanism, as intended by the Treaties should therefore be incorporated into Union law on the basis of an assessment of the experience with its implementation, as intended by the Treaties, and no new institutions should be introduced;
Amendment 234 #
2014/2249(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Insists that Parliament’s legislative powers and control rights must be guaranteed, consolidated and strengthened, pari passu with those of the Council by anincluding by inter-institutional agreement,s and through the use of the corresponding legal base by the Commission;
Amendment 353 #
2014/2249(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Suggests, on the basis of Article 352 TFEU, the creation of an EU Fiscal and Treasury Administration, with a role similar to that of the Office of Management and Budget in the United States, in order to support the European Finance Minister; considers that the European Parliament should accordingly create an independent technical body, with a role similar to that of the Congressional Budget Office in the United States, in order to support the European Finance Minisand enhance its political control over economic and fiscal matters;
Amendment 440 #
2014/2249(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Insists on the adoption of Convergence Guidelines, to be enshrined within a Convergence Code and adopted under the ordinary legislative procedure, with a view to creating a more binding framework for economic policy coordination (with key economic, competitiveness and social targets, such as in the areas of labour markets, competitiveness, business environment and public administrations, aspects of tax policy and social protection) that is open to all 28 Member States and that guarantee, while recognizing that such framework allows for country-specific solutions twhem the possibility of participating in a shock-absorption mechanismre different policies can lead to similarly good performance;
Amendment 554 #
2014/2249(INI)
Motion for a resolution
Paragraph 49
Paragraph 49
49. Pledges to increase the resilience of the EMU when facing economic shocks while preventing any form of permanent fiscal transferand speculative behaviour in sovereign bond markets, calling for the adoption of policies designed to absorb asymmetric shocks and foster convergence among Member States;
Amendment 647 #
2014/2249(INI)
Motion for a resolution
Paragraph 64
Paragraph 64
64. Considers it necessary to address the weaknesses in the existing institutional structure, whereby certain parts of the Treaty may be overseen by the Court of Justice while others are excluded from such scrutiny of the EMU, particularly its democratic deficit; calls for binding coordination and surveillance of the budgetary discipline of those Member States whose currency is the euro, subject to the control of the Court of Justice on the basis of Article 136 TFEU, in conjunction with Article 121 (6), and under strengthened parliamentary scrutiny in the detailed implementation of Article 121 (3) and (4) TFEU;
Amendment 7 #
2014/2248(INI)
Motion for a resolution
Citation 4
Citation 4
– having regard to the MFF and the interinstitutional agreement as finally adopted on 2 December 2013 and published in the Official Journal of 20 December 20134 , __________________ 4 OJ L 347, 20.12.2013, p.884.
Amendment 10 #
2014/2248(INI)
Motion for a resolution
Citation 6
Citation 6
– having regard to the European Council conclusions of 18-19 February 2016 concerning a new settlement for the United Kingdom within the European Union6 , which is rendered void due to the decision of the UK to leave the Union, __________________ 6 EUCO conclusions of 19 February 2016.
Amendment 12 #
2014/2248(INI)
Motion for a resolution
Citation 7
Citation 7
– having regard to the decision to leave the European Union resulting from the UK referendum on EU membership,
Amendment 17 #
2014/2248(INI)
Motion for a resolution
Citation 10 a (new)
Citation 10 a (new)
– having regard to its resolution 24 June 2015 on the review of the economic governance framework: stocktaking and challenges8a, __________________ 8a Texts adopted, P8_TA(2015)0238.
Amendment 22 #
2014/2248(INI)
Motion for a resolution
Citation 18 a (new)
Citation 18 a (new)
– having regard to its resolution of XXXXX on the establishment of an EU mechanism on democracy, the rule of law and fundamental rights,
Amendment 23 #
2014/2248(INI)
Motion for a resolution
Citation 18 b (new)
Citation 18 b (new)
– having regard to Regulation (EU) 2016/1624 of the European Parliament and of the Council of 14 September 2016 on the European Border and Coast Guard15a , __________________ 15a OJ L 251, 16.9.2016, p. 1.
Amendment 35 #
2014/2248(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the ‘polycrisis’ currently faced by the Union, including its financial, economic, social and migratory consequences, have all led to the rejeincreased dissatisfaction byfrom a growing parsegment of the population of the currentregarding the functioning of the European Union;
Amendment 45 #
2014/2248(INI)
Motion for a resolution
Recital B
Recital B
B. whereas progress towards a Union that can really deliver on and achieve its goals are impaired by a failure of governance owing to a continuous and systematic search for unanimity in the Council (which is still based on the so- called Luxembourg Compromise) and the lack of a credible single executive authority enjoying full democratic legitimacy and competence to take effective action across a wide spectrum of policies; whereas recent examples such as the uncontrolled migrationinadequate management of refugee flows, the slow clean-up of our banks after the outbreak of the financial crisis and the lack of an immediate common response to the internal and external threat of terrorism have aptly demonstrated that the Union’s incapacity, paralysed by Member States, has not been able to respond effectively and quickly;
Amendment 72 #
2014/2248(INI)
Motion for a resolution
Recital D
Recital D
D. whereas, instead of fostering the Union, the system whereby Member States make progress at different speeds in accordance with their different capacities and circumstances, further reinforced in the Lisbon Treaty, which introduced new formal methods of enhanced cooperation, has increased the complexity of the Union and accentuated its ‘variable geometry’; whereas more and more Member States are declining to agree on the goals and prefer ‘à la carte’ solutions, some of them even unilaterally the Treaties offer forms of flexible and differentiated integration on secondary law level through the instruments of enhanced and structured cooperation, whereby Member States make progress at different speeds in accordance with their different capacities and circumstances; whereas twenty years after its introduction the impact of enhanced cooperation remains limited; whereas enhanced cooperation has been granted in three instances, namely with regards to common rules for the applicable law for divorces of international couples, the European patent with unitary effect, and the introduction of a Financial Transaction Tax (FTT);
Amendment 80 #
2014/2248(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas despite the flexibility offered by the Treaties numerous opt-outs on primary law level have been granted to several Member States; whereas these ‘à la carte’ solutions increased the complexity of the Union, created an opaque system of intersecting circles of cooperation, and impede democratic control and accountability;
Amendment 99 #
2014/2248(INI)
Motion for a resolution
Recital F
Recital F
F. whereas, as regards Schengen, the free movement of people and the resulting abolition of internal border controls, all formally integrated into the Treaties, ‘opt- outs’ were given to the UK and Ireland; whereas four other Member States are also not taking part, but have the obligation to do so, while ‘opt-ins’ were accorded to three countries outside the European Union; whereas this fragmentation not only prevents the total abolition of some remaining internal borders, but also hinders the establishment of a true internal market and of a fully integrated area of freedom, security and justice;
Amendment 111 #
2014/2248(INI)
Motion for a resolution
Recital G
Recital G
G. whereas, last but not least, this ‘variable geometry’opt-outs for individual Member States endangers the uniform application of EU law, leads to excessive complexity in terms of governance, jeopardises the cohesion of the Union and undermines solidarity among its citizens;
Amendment 114 #
2014/2248(INI)
Motion for a resolution
Recital H
Recital H
H. whereas, since the Treaty of Lisbon, further accelerated by the financial and migration crises, the European Council has widened its role to include day-to-day management through the adoption of intergovernmental instruments outside the framework of the EU such as the European Stability Mechanism (ESM), the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (TSCG or the ‘Fiscal Compact’) and the deal with Turkey on migrationin violation of Article 15 (1) TEU;
Amendment 120 #
2014/2248(INI)
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. whereas the unanimity requirement in the European Council and its incapacity to find consensus has led to the adoption of intergovernmental agreements outside the EU legal framework such as the European Stability Mechanism (ESM), the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (TSCG or the 'Fiscal Compact') and the deal with Turkey on migration;
Amendment 125 #
2014/2248(INI)
Motion for a resolution
Recital I
Recital I
I. whereas, while Article 16 of the TSCG provides that within five years of the date of entry into force (before 1 January 2018) the necessary steps must have been taken to incorporate the Fiscal Compact into the legal framework of the Union, it is clear that the resilience of the euro area, including the completion of the banking union, cannot be achieved without further fiscal deepening steps together with the establishment of a more reliable, effective and democratic form of governance; whereas this will complete the current Stability and Growth Pact, which, ever since it came into existence, even after its reform by the so-called six-pack and two-pack, has never been applied for any obvious political reasons;
Amendment 147 #
2014/2248(INI)
Motion for a resolution
Recital J
Recital J
J. whereas this new system of governance implies that the European Commission becomes a genuine government equipped to formulate and implement the common monetary, fiscal and macro- economic policies that the euro area desperately needs and must be endowed with a treasury and budget commensurate with the scale of the tasks at hand; whereas this requires, in addition to measures within the existing primary law, a reform of the Lisbon Treaty;
Amendment 150 #
2014/2248(INI)
Motion for a resolution
Recital K
Recital K
K. whereas this is also the case for the necessary reform and modernisation of the financial resources of the whole European Union; whereas the agreement on the current multiannual financial framework (MFF) was only reached after long and strenuous negotiations and was accompanied by the decision to establish a high-level group to review the Union’s revenue system of ‘own resources’, due to report in 2016; whereas the current MFF severely limits the financial and political autonomy of the Union, as most of the revenue consists of national contributions by the Member States and a large part of the expenditure is already preordained by means of returns to these same Member States; whereas although designed as a balancing system, GNP/GNI-based national contributions have become by far the largest source of revenue;
Amendment 154 #
2014/2248(INI)
Motion for a resolution
Recital K a (new)
Recital K a (new)
Ka. whereas it is deplorable that the current Multiannual Financial Framework (MFF) is inferior in nominal terms compared to the previous one while the circumstances require major budgetary efforts to assist refugees and stimulate economic growth and a more social Europe; calls on the European Council to revise upwards the current MFF;
Amendment 155 #
2014/2248(INI)
Motion for a resolution
Recital K b (new)
Recital K b (new)
Kb. whereas the unanimity requirement for the harmonisation of taxes prevents tackling harmful tax competition between Member States and the existence of tax havens within the European Union; whereas corporate tax rates significantly below EU-average and tax benefits for multinational corporations distort the functioning of the internal market, endanger the Member States’ tax income, and ultimately shift the tax burden towards citizens and SMEs;
Amendment 156 #
2014/2248(INI)
Motion for a resolution
Recital L
Recital L
L. whereas the European Union is a constitutional system based on the rule of law; whereas the Treaties must be changed to give the European Court of Justice (ECJ) jurisdiction over all aspects of EU law, in particular common foreign and security policy (founded on the values of respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights, including the rights of persons belonging to minorities; whereas the European Union’s existing instruments to assess and sanction breaches of these principles by Member States have proven insufficient; whereas infringement procedures launched against specific legal acts or actions by a Member State violating EU law are inadequate to address systemic breaches of the EU’s fundamental values; whereas under Article 7 (1) TEU the Council acts by a majority of four fifth of its members when determining a clear risk of a serious breach of the fundamental values, and pursuant to Article 24(17 (2) TEU) and monetary and economic policy (Article 126(10 the European Council acts by unanimity when determining the existence of a serious and persistent breach; whereas as a consequence neither the preventive measure under Article 7 (1) TEU nor the sanctioning mechanisms of Article 7 (2) and (3) TFEU); have been invoked;
Amendment 171 #
2014/2248(INI)
Motion for a resolution
Recital L a (new)
Recital L a (new)
La. whereas the Treaties must be changed to give the European Court of Justice (ECJ) jurisdiction over the common foreign and security policy (Article 24(1) TEU);
Amendment 178 #
2014/2248(INI)
Motion for a resolution
Recital M
Recital M
M. whereas this review is also needed to rebalance the functioning of the Union, with the aim of less bureaucratic regulation and more effective policymaking; whereas this exercise also concerns the competences conferred on the Union that impair the abilitymore effective policymaking closer to the needs of the citizens; whereas the European Union requires the necessary competences to make progress towards some of its stated objectives such as the energy union, common migration managementand asylum management, social rights, combating unemployment, taxation and security policy;
Amendment 180 #
2014/2248(INI)
Motion for a resolution
Recital M a (new)
Recital M a (new)
Ma. whereas building systematic dialogue with civil society organisations and strengthening social dialogue, at all levels and in accordance with the principles laid down in Articles 11 TEU and 152 TFEU, are key to overcoming Euroscepticism and to reasserting the importance of Europe’s solidarity based dimension, social cohesion and the construction of a participatory and inclusive democracy, as a supplement to representative democracy;
Amendment 183 #
2014/2248(INI)
Motion for a resolution
Recital M b (new)
Recital M b (new)
Mb. whereas the role of the European Economic and Social Committee (EESC) and the Committee of the Regions (CoR) must be safeguarded as institutional representatives of civil society organisations, and regional and local actors;
Amendment 201 #
2014/2248(INI)
Motion for a resolution
Recital O
Recital O
O. whereas the decline of Europe’s defence capabilities has limited its ability to project stability beyond our immediate borders; whereas this goes hand in hand with the reluctance of our US allies to intervene if Europe is not ready to take its fair share of responsibility; whereas this leads inevitably to the need for more intense cooperation among the Member States and an integration of some of their defence capacities into a European defence community, both in line with a new European security strategy;
Amendment 206 #
2014/2248(INI)
Motion for a resolution
Recital P
Recital P
P. whereas these changes in the Union’s primary law have become unavoidable, as regrettably none of the ‘passerelle clauses’ provided for in the Lisbon Treaty with a view to facilitating the reform ofstreamlining the Union’s governance have been deployed, and are unlikely to be so in the present circumstances; whereas this is in sharp contrast with the attitude of the European Council in the matter of the envisaged reduction in the number of members of the European Commission, where the ‘let-out’ clause was used instantlyo the contrary due to the European Council decision of 18/19 June 2009 the reduction in the number of Commissioners as envisaged in the Lisbon-Treaty could not be implemented;
Amendment 213 #
2014/2248(INI)
Motion for a resolution
Recital Q
Recital Q
Q. whereas clarifications are still needed as regards the European elections and on the matter of who leads the Union; whereas, despite the outcome of the 2014 European parliamentary elections having, the 2014 European parliamentary elections through the nomination of lead candidates by the European political parties have led for the first time led directly to the nomination of the candidate for President of the Commission, a clear direct democratic link is still lacking, although the European Counci; whereas the supranational chas agreed to review the ‘Spitzenkandidat’ process in time for 201918 ; whereas, moreover, there is stillracter of the European elections should be further reinforced; __________________ 18 EUCO confclusion – not least among third parties – about the interrelationship of the Presidents of the Commission and the European Council; __________________ 18s of 27 June 2014. EUCO conclusions of 27 June 2014.
Amendment 234 #
2014/2248(INI)
Motion for a resolution
Recital R
Recital R
R. whereas, finally, the urgency for reform of the Union has been dramatically increased by the United Kingdom’s decision, through a referendum, to leave the European Union; whereas it is crystal clear that the negotiations to set out the arrangements for the UK’s withdrawal also need to take account of the framework for its future relationship with the Union; whereas this agreement must be negotiated in accordance with Article 218(3) TFEU and be concluded on behalf of the Union by the Council, acting by a qualified majority, after obtaining the consent of the European Parliament;
Amendment 244 #
2014/2248(INI)
Motion for a resolution
Recital S
Recital S
S. whereas the UK’s decision creates an opportunity to reduce and drastically simplify the ‘variable geometry’ and complexity of the Union; whereas it offers at least the opportunitycomplexity of the Union, and to clarify what membership of the Union really means and what could be a clear structure in the future for the EU’s relationship with non- members in our periphery (the United Kingdom, Norway, Turkey, Ukraine, etc.); whereas the founding fathers of the Union had already envisaged a type of ‘associate status’neighbourhood;
Amendment 271 #
2014/2248(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Considers that the time of crisis management by means of ad hoc and incremental decisions has passed, as it only leads to measures that are too little, too late; is convinced that it is now time to address the shortcomings of the governance of the European Union need to be addressed as soon as possible by undertaking a comprehensive, in-depth reform of the Lisbon Treaty;
Amendment 296 #
2014/2248(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Underlines that recent Eurobarometer polling demonstrates that, contrary to popular belief, EU citizens are still fully aware of the importance of, and in support of, genuine European solutions19 , inter alia in the fields of security and migration; __________________ 19 Standard Eurobarometer 84 - Autumn 2015 & Special Eurobarometer EP - June 2016.
Amendment 309 #
2014/2248(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Observes with great concern the prolifermultiplication of subsets of Member States undermining the unity of the Union by causing a lack of transparency, as well as diminishing the trust, and that some Member States openly break Union law, by refusing to implement two Council Decisions of September 2015 ofn the peoplereallocation of refugees;
Amendment 335 #
2014/2248(INI)
Motion for a resolution
Subheading 1
Subheading 1
Amendment 344 #
2014/2248(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes that the fracturing process of ‘variable geometry’ has found its way into the European decision-making process every time the European Council decides to apply intergovernmental methods and to bypass the ‘Union method’ (‘Community method’) as defined in the Treaties; this not only leads to less effective policy- making but also contributes to a growing lack of transparency, democratic accountability and control;
Amendment 360 #
2014/2248(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Considers that the ‘Union method’ is the only democratic method for legislating which ensures that all interests, especially the common European interest, are taken into account prevails; understands by ‘Union method’ that the Commission as the executive initiates legislation, Parliament and the Council representing respectively the citizens and the states decide by majority voting, and the Court of Justice oversees and provides ultimate judicial control;
Amendment 375 #
2014/2248(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Suggests to render the requirements for establishing enhanced and structured cooperation less restrictive, inter alia by lowering the minimum number of participating Member States;
Amendment 399 #
2014/2248(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 410 #
2014/2248(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 437 #
2014/2248(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Underlines the fact that, until the Treaties cease to apply to the United Kingdom, it will continue to participate in all decision-making of the Union throughout itsin the EU institutions, with the exception of the negotiations and the agreement concerning its own withdrawal; considers that for the time of the withdrawal negotiations, intermediate arrangements will need to be madeshould be considered concerning the UK’s participation in European decision-making, as it will be politically difficult to allow a Member State in the process of leaving to influence decisions affecting the Union of which it will soon cease to be a member;
Amendment 451 #
2014/2248(INI)
Motion for a resolution
Subheading 3
Subheading 3
New Economic Governance and establishment of a Social Europe
Amendment 453 #
2014/2248(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Recalls as stated in its resolution of XXXX on a budgetary capacity for the eurozone that the various crises require the euro area to make, as soon as possible, a qualitative leap of integration to deliver on its promise of stability, convergence, growth and jobs;
Amendment 458 #
2014/2248(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Is greatly concerned by the lack of economic reform and congrowing economic and social divergences in the Economic and Monetary Union (EMU) as well as the loss, notably due to the absence of a competitiveness of the economiesmon fiscal and economic policy, aggravated by the lack of a proper aggregate fiscal stance for the euro area and the absence of many of its Member St industrial stratesgy;
Amendment 476 #
2014/2248(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Considers that in their current form neither the Stability and Growth Pact nor the ‘no bail-out’ clause (Article 125 TFEU) provide the intended solutions, and that they have furthermore lost credibility in their current form, as the pact has been infringed by several Member States without political or legal consequences, while Greece has been bailed out on a large scale on three occasions;
Amendment 506 #
2014/2248(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Acknowledges the improvements brought byTakes note of the European Semester, the six- pack and the two-pack aimed at addressing these issues, but concludes that they have not solved the problems; believes, moreover, that they have contributed to makingrendered the system overly complex, are not binding with regard to country- specific recommendations and do not cover spill-over effects between one Member State and another, or to the euro area or the EU as a whole;
Amendment 521 #
2014/2248(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Is acutely aware of the need to review the efficacy of the many recent crisis-management measures taken by the EU, and to codify in primary law certain decision-making procedures – such as ‘reverse qualified majority voting’ – as well as the need to entrench the legal bases of the new regulatory framework for the financial sector; agrees with the Five Presidents’ Report that the ‘open method of coordination’ as the basis for Europe’s economic strategy does not function and needs to be elevated into binding legal acts;
Amendment 538 #
2014/2248(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Proposes therefore merging the deficit and debt procedures, the macroeconomic imbalance procedure and the country-specific recommendations into a singleReiterates its call for the adoption of a ‘convergence code’ of, as a legally binding nature, setting minimum and maximum standards, where only compliance with this code would allow access to EU funds for investment projects or participation in new instruments that combine economic reform with fiscal incentiv act by ordinary legislative procedure, to streamline the existing coordination of economic policies into a more effective convergence of economic policies; such as a fiscal capacity for the euro area or a common debt instrument; the coordination of economic policies as provided for in Article 5 TFEU would therefore become a ‘shared competence’ between the Union and the Member Statggests that the code should be focusing for the first period on convergence criteria regarding taxation, labour market, including among others minimum wages, investment, social cohesion and public administrative and good governance capacities;
Amendment 544 #
2014/2248(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Believes the ‘convergence code’ should aim, first and foremost, at territorial and social cohesion, with a view to obtaining a level playing field and eliminating the root causes of divergence between Member States and between regions;
Amendment 554 #
2014/2248(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Believes that, in order to reduce the still excessively high debt burden of Member States, such a common debt instrument needs to be established, inspired by the proposal by the German Council of Economic Experts of 9 November 2011, whereby euro-area members would undertake joint and several liability for a sinking fund, with strong individual commitments on structural reforms to reduce the debt-to- GDP ratio to the required maximum of 60 %; insists that euro-area members would only be able to participate when they are in compliance with the convergence code, as this will prevent moral hazard;
Amendment 567 #
2014/2248(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
Amendment 583 #
2014/2248(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Calls for the integration of the Fiscal Compactevaluation and, if necessary, review of the Fiscal Compact and its subsequent integration into the EU legal framework as well as; calls likewise for the incorporation of the ESM and the Single Resolution Fund into EU law, with corresponding democratic oversight by Parliament and further development of the inter-parliamentary conference foreseen in Article 13, to allow a substantial and timely discussions between the EP and the national parliaments where needed;
Amendment 609 #
2014/2248(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Is of the opinion that, in order to increase financial stability, mitigate cross- border asymmetric and symmetric shocks and, reduce the effects of recession, and ensure a proper level of investment, the euro area needs a fiscalbudgetary capacity based on genuine own resources and a proper treasury facility equipped with a capacity to borrow; this treasury must be based in the Commission and be subject to democratic scrutiny and accountability through Parliament and the Council;
Amendment 628 #
2014/2248(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Points out that, because compliance with the new code is crucial to the functioning of the Economic and Monetary Union, stronger governmental institutions are required than those currently provided by the Commission and/or the Eurogroup, as well as full democratic checks and balances through the involvement of the European Parliament on all EMU aspects;
Amendment 642 #
2014/2248(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Calls, therefore, for the executive authority to be concentrated in the Commission in the role of an EU Finance Minister, by endowing the Commission with the capacity to formulate and give effect to a common EU economic policy combining macro-economic, and fiscal and monetary instruments, backed up by a euro-area budget; the Finance Minister should be responsible for the operation of the ESM and other mutualised funds, including the budgetary capacity, and be the single external representative of the euro area in international organisations, especially in the financial sector;
Amendment 659 #
2014/2248(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Considers it necessary to endow the Finance Minister with proportionate powers to intervene in the setting of national economic and fiscal policies in cases where the convergence code is not respected, and the power torespond to symmetrical and especially asymmetrical shocks, particularly through the use of the fiscal capacity or the common bond instrument for those Member States that are compliant with the convergence code;
Amendment 683 #
2014/2248(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 703 #
2014/2248(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Calls, finally, for the banking union and the Capital market union to be completed as soon as possible on the basis of a fast-track timetable;
Amendment 710 #
2014/2248(INI)
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27a. Considers it necessary to lift the unanimity requirement for the harmonisation of certain taxes to allow the EU to set minimum tax rates and tax corridors with the aim of safeguarding the fair and smooth functioning of the internal market and to avoid harmful tax competition between Member States;
Amendment 713 #
2014/2248(INI)
Motion for a resolution
Paragraph 27 b (new)
Paragraph 27 b (new)
27b. Considers a strong social dimension indispensable for a comprehensive EMU and that Article 9 TFEU in its current form is not sufficient to guarantee a proper equilibrium between social rights and economic freedoms; calls therefore for these rights to be equally ranked and conflict between them solved by the principal that no right should be limited more than necessary in order to protect countervailing rights;
Amendment 722 #
2014/2248(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Recognises the geopolitical, economic and environmental need for the creation of a genuine European energy union; notes that this will require the removal of the constraint that EU policy must not affect a state’s right to determine the conditions for exploiting its energy sources, its choice between different energy sources and the general structure of its energy supply (Article 194(2) TFEU);
Amendment 730 #
2014/2248(INI)
Motion for a resolution
Paragraph 28 a (new)
Paragraph 28 a (new)
28a. Underlines that climate change is one of the key global challenges facing the EU; stresses the need for the full ratification and implementation of the Paris Agreement and the adaptation of binding EU climate targets and actions accordingly; notes that the exclusive competence of the Member States to determine the conditions for exploiting its energy sources, its choice between different energy sources and the general structure of its energy supply (Article 194(2) TFEU) may undermine the successful implementation of common energy policies;
Amendment 744 #
2014/2248(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Notes that the Treaties provide ample means to set up a humane, well- functioning migration management and asylum system including a European Border and Coast Guard and welcomes the progress in this regards; believes, however, that the Treaties, particularly Article 79(5) TFEU, are too restrictive regarding other aspects of migration, especially on the establishment of a genuine European legal migration system; insists that democratic scrutiny by Parliament is needed on the implementation of border control, asylum and migration policies, and that the safeguarding of national securityinterests cannot be used as a pretext to circumvent European action;
Amendment 771 #
2014/2248(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. Regrets, as stated in its resolution of XXXXX on the improvement of the functioning of the European Union building on the potential of the Lisbon Treaty, that the EU has not made more progress in developing its capacity to agree and to implement a common foreign and security policy (CFSP); notes that its efforts in initiating a common security and defence policy have not been particularly successful, especially with regards to the sharing of costs and responsibilities;
Amendment 784 #
2014/2248(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Is of the opinion, while reiterating that more progress could and should be made under the terms of the Lisbon Treaty, including as regards use of the provisions to act by qualified majority voting, and that the Vice-President / High Representative should be named EU Foreign Minister and be supported in her efforts to become the main external representative of the European Union in international fora, not least at the level of the UN; considers it essential that, owing to the broad and heavy workload,that the Foreign Minister should be able to appoint political deputies; proposes a review of the functionality of the current European External Action Service;
Amendment 802 #
2014/2248(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Stresses that for the Union to strengthen the defence of the EU territory, as a pillar within NATO, which remains the cornerstone of the European security architecture, and toe need to create a proper European Defence Union, which in strategic partnership with NATO could enable the Union to act autonomously in operations abroad, mainly with a view to stabilising its neighbourhood, the Treaties should provide for the possibility of establishing a; stresses that the European Parliament should be fully involved in all steps of the creation of the European dDefence uUnion and have the right of consent in case of operations abroad;
Amendment 818 #
2014/2248(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
34. Believes, finally, that it is essential that the restrictions in Article 24(1) TEU on the authority of the European Court of Justice in the field of CFSP be removed; calls, in the same spirit, for Parliament to gain greater powers of scrutiny and accountability over CFSP, including full co-decision powers over the budget;
Amendment 826 #
Amendment 829 #
2014/2248(INI)
Motion for a resolution
Paragraph 34 a (new)
Paragraph 34 a (new)
34a. Underlines that respect for and the safeguarding of the EU’s fundamental values are the cornerstone of the European Union as a community based on values and bind European Member States together;
Amendment 831 #
2014/2248(INI)
Motion for a resolution
Paragraph 34 b (new)
Paragraph 34 b (new)
34b. Calls for a revision of the procedures laid down in Article 7 TEU to make the preventive mechanism and the sanctioning mechanism with regards to violations of the EU’s fundamental values relevant and applicable; proposes that the Council should act by qualified majority instead of a majority of four fifth of its members when determining a clear risk of a serious breach of the fundamental values under Article 7 (1) TEU, and that the European Council should act by qualified majority instead of unanimity when determining the existence of a serious and persistent breach under Article 7 (2) TEU;
Amendment 888 #
2014/2248(INI)
Motion for a resolution
Paragraph 38
Paragraph 38
38. Recalls that Parliament, followingSupports the European Council Decision of 28 June 2013, will need to present before the end of 2016 a proposal to establish a system which will make it possible, before each election to the European Parliament, to reallocate the seats among Member States in an objective, fair, durable and transparent way, respecting the principle of degressive proportionality, while taking account of any change in the number of Member States and demographic trends;
Amendment 905 #
2014/2248(INI)
Motion for a resolution
Paragraph 39 a (new)
Paragraph 39 a (new)
39a. Stresses the need to better inform citizens about the EU, their role in European decision-making and their rights, which can be achieved amongst other means through civic education across the EU; reiterates its call from 28 October 2015 to reform the European Citizens Initiative to ensure that citizens engage directly with the EU institutions and become more actively involved in the framing of European policies and legislation;
Amendment 909 #
2014/2248(INI)
Motion for a resolution
Paragraph 39 b (new)
Paragraph 39 b (new)
39b. Calls for an increase in the capacity of the European Economic and Social Committee (EESC) and the Committee of the Regions (CoR) to directly impact the policy-shaping and legislative processes of the European Union by including them at the earliest stage possible in the Union’s legislative programming and by formally acknowledging their role in the assessment of EU policies and legislations;
Amendment 917 #
2014/2248(INI)
Motion for a resolution
Paragraph 40
Paragraph 40
40. Notes that, despite the prohibition in Article 15(1) TEU, the European Council has undertaken various legislative initiatives; proposes abolishing Article 15(1) andto integratinge the European Council intoas a Council of States that could engage legitimately in the law-making process anconfiguration into the Council of the European Union, where it could provide direction and coherence to the other specialised Council configurations;
Amendment 924 #
2014/2248(INI)
Motion for a resolution
Paragraph 41
Paragraph 41
41. Considers that thise Council and its specialised configurations, as the second chamber of the EU legislature, should, in the interest of specialism, professionalism and continuity, replace the practice of the rotating six-month presidency with a system of permanent chairs chosen from their midst; suggests that the idea of creating a special Law Council should be favourably reconsidered;
Amendment 935 #
2014/2248(INI)
Motion for a resolution
Paragraph 43
Paragraph 43
43. Stresses that, following the creation of the role of EU Finance Minister, Parliament should accordingly create an independent technical body, with a role similar to that of the Congressional Budget Office in the United States of America, in order to support and enhance its political control over economic and fiscal matters, and the Eurogroup should be considered as a formal specialised configuration of the Council with legislative and control functions but no executive tasks;
Amendment 952 #
2014/2248(INI)
Motion for a resolution
Paragraph 44
Paragraph 44
44. Proposes that, after the adoption of a budgetary capacity for the Eurozone, when Parliament and the Council vote on legislation specific to the euro area, only MEPs elected in the euro areathe interests of those non-euro countries that are obliged and resexpectively representatives of its member states, can take part in the voteed to join the EMU should be considered; proposes that arrangements should be found that only MEPs elected in the euro area take part in the vote on matters related to the Eurozone budgetary capacity;
Amendment 958 #
2014/2248(INI)
Motion for a resolution
Paragraph 44 a (new)
Paragraph 44 a (new)
44a. Calls on Member States without a derogation to clarify their engagement with regard to the common currency, and on those of them who fulfil the accession criteria to adopt the euro as soon as possible;
Amendment 959 #
2014/2248(INI)
Motion for a resolution
Paragraph 45
Paragraph 45
Amendment 971 #
2014/2248(INI)
Motion for a resolution
Paragraph 46
Paragraph 46
46. Recognises the significant role played by national parliaments in the constitutional order of the European Union, and in particular their role in transposing EU legislation into national law and the role they would play in both ex-ante and ex-post control of legislative decisions and policy choices made by their members of the new Council of States, including its specialised configuratthe European Unions; suggests therefore complementing and enhancing the powers of national parliaments by introducing a ‘green card’ procedure whereby national parliaments could submit legislative proposals to the Council for its considerationconsiders that the political dialogue between national parliaments and the European Parliament should be intensified and made more meaningful and substantial, without overstepping the limits of their respective constitutional competences;
Amendment 986 #
2014/2248(INI)
Motion for a resolution
Paragraph 47 a (new)
Paragraph 47 a (new)
47a. Calls for the full replacement of the consultation procedure by co-decision between Parliament and Council;
Amendment 1035 #
2014/2248(INI)
Motion for a resolution
Paragraph 54
Paragraph 54
54. Is of the opinion that the 60th anniversary of the Treaty of Rome would be an appropriate moment to modernisestart an in- depth reflection on the future of the European Union and to startleading to a Convention with the purpose of making the European Union ready for the decades ahead;
Amendment 4 #
2014/2228(INI)
Draft opinion
Paragraph A
Paragraph A
A. Stresses that EU trade and development policies are interlinked andAsks the Commission to respect thate Article 208 of the Lisbon Treaty, which establishes the principle of policy coherence for development, requiring that the objectives of development cooperation be taken into account in policies that are likely to affect developing countries;
Amendment 6 #
2014/2228(INI)
Draft opinion
Paragraph 1 - point (d) - Subpoint (i.(new) - (precedes point i)
Paragraph 1 - point (d) - Subpoint (i.(new) - (precedes point i)
i. to evaluate the implications of TTIP in order to ensure policy coherence, namely the consistency between the different areas of EU´s external action and between these and its other policies;
Amendment 9 #
2014/2228(INI)
Draft opinion
Paragraph 1. - Point (d) - Subpoint (i.)
Paragraph 1. - Point (d) - Subpoint (i.)
i.) to specify the role and the legal quality of the Regulatory Cooperation Council’s findings, taking into consideration that the regulatory cooperation should respect the EU current constitutional and institutional framework, the capacity of European, national and local authorities to legislate their own policies, in particular social and environmental policies, and that any direct application of its recommendations for the relevant EU instances would imply a breach of the law- making procedures laid down in the Treaties;
Amendment 14 #
2014/2228(INI)
Draft opinion
Paragraph B
Paragraph B
B. Notes that, alRequests the Commission to prepare a thorough analysis, once the provisions of the Transatlantic Trade and Investment Partnership (TTIP) negotiation mandateare clearer, of its now public, its wording is so general that itslikely impact on low income countentries and possible spillover effects on developing countries are still not known; calls for a thorough analysis, when TTIP provisions are clearer, of its likely impathe future sustainable development goals, as information on possible spillover effects on low incomedeveloping countries and the future sustainable development goalsre sparse;
Amendment 24 #
2014/2228(INI)
Draft opinion
Paragraph 1.- Point (d) - Subpoint (ii.)
Paragraph 1.- Point (d) - Subpoint (ii.)
ii.) while there is no decision on the inclusion of the investor-state dispute settlement (ISDS) is an appropriate tool to protect investors and assurn TTIP, to oversee that , investments are treated in a fair and non- discriminatory way, to oversee that it does not undermine the capacity the event of its inclusion, it does not undermine the right to regulate in the public interest of European, national and local authorities to legislate their own policies,, regarding in particular social and environmental policies, and therefore respect the constitutional framework of the Member States;
Amendment 32 #
2014/2228(INI)
Draft opinion
Paragraph C
Paragraph C
C. Is of the opinionAsks the Commission to consider that the effect of the TTIP on developing countries will vary depending on their economic structure and current trade relations; sees, however,and take measures to minimize the potential serious risk of diminished market access and resulting trade diversion for some countries;
Amendment 35 #
2014/2228(INI)
iii.) while a certain extent of confidentiality is necessary for effective negotiations on a trade agreement of such high economic and political importance, to continueto continue and strengthen its effort to render TTIP negotiations more transparent and accessible to the public, as European institutions should be at the forefront of promoting transparency;
Amendment 39 #
2014/2228(INI)
Draft opinion
Paragraph D
Paragraph D
D. StressesAsks the Commission to take into account, that the majority of developing countries benefits from some degree of tariff preferences from the EU and the USA, with margins likely to be significantly affected by the TTIP; underlines that adaptation to new sets of norms and standards is not necessarily negative, but that it is essential to alleviate the cost of compliance (especially for SMEs);
Amendment 40 #
2014/2228(INI)
Motion for a resolution
Recital A
Recital A
A. whereas an ambitious and balanced agreement with the US may support the reindustrialisation of Europe and help achieve the 2020 target for an increase of the EU’'s GDP generated by industry from 15 % to 20 %; whereas it has the potential to create opportunities especially for SMEs, micro enterprises, according to the definition of Recommendation COM 2003/361/CE, clusters and enterprises networks which suffer more from non- tariff barriers (NTBs) than larger companies; whereas an agreement between the two biggest economic blocs in the world has the potential to create standards, norms and rules which will be adopted at a global level, which would serve to the advantage of third countries as well;
Amendment 59 #
2014/2228(INI)
Draft opinion
Paragraph E
Paragraph E
E. Is worrieAsks the Commission to bear in mind that the TTIP and other mega trade deals are likely to reshape global trade rules and set new standards, while also being discriminatory, by excluding some 130 countries from the negotiations and risking sidelining important issues for developing countries such as food security, agricultural subsidies and climate change mitigation; urges the Commission to step up efforts to advance in multilateral fora and overcome the current Doha Round stalemateto successfully conclude the multilateral negotiations of the Doha Round, as it is the best way to achieve a trading system that is inclusive and for the benefit of all;
Amendment 61 #
2014/2228(INI)
Draft opinion
Paragraph E a (new)
Paragraph E a (new)
Ea. Asks the Commission to move towards a fairer approach in its negotiations of Economic Partnership Agreements and suggests the loss of value in preferences from the TTIP be recognised;
Amendment 70 #
2014/2228(INI)
Draft opinion
Paragraph F
Paragraph F
F. Sees, however, the potential of the TTIPRequests the Commission to promote the highest global standards of this century on decent work, environmental protection, and food and product safety. within the negotiations;
Amendment 77 #
2014/2228(INI)
Draft opinion
Paragraph F a (new)
Paragraph F a (new)
Fa. Asks the Commission to support developing countries in pursuing stronger regional integration in order to diminish possible negative effects of TTIP and enable them to become thriving trade partners of the EU and US;
Amendment 81 #
2014/2228(INI)
Draft opinion
Paragraph F b (new)
Paragraph F b (new)
Fb. Calls on the Commission to increase the transparency and democratic nature of negotiations by enhancing dialogue with civil society and other stakeholders.
Amendment 95 #
2014/2228(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas in the agricultural sector a reduction of tariff barriers has necessarily to be accompanied by the elimination or significant reduction of excessively burdensome SPS and TBT measures applied by the US in order for EU agricultural producers to benefit from actual access to the US market;
Amendment 112 #
2014/2228(INI)
Motion for a resolution
Recital E
Recital E
E. whereas many economic impact studies on TTIP should be taken with caution as they are built on computable general equilibrium economic models with very optimistic predictions about the capacity of the EU and the US to reduce regulatory barriers to trade; whereas the TTIP alone will not resolve economic problems in the EU and no false hopes and expectations should be raised in that respectthe real impact of TTIP on both EU and US economies is difficult to assess and hard to predict while negotiations are still ongoing; whereas there are contradictory economic impact studies on TTIP and they should be taken with caution as regards the capacity of the EU and the US to reduce regulatory barriers, unnecessary or unjustified, to trade and to support economic growth and job creation; whereas the TTIP alone will not resolve economic problems in the EU and no false hopes and expectations should be raised in that respect; whereas hopes and expectations on TTIP should be commensurate to the level of ambition that will be reached sector by sector in the negotiation;
Amendment 160 #
2014/2228(INI)
Motion for a resolution
Recital G
Recital G
G. whereas the secret character oflimited level of transparency of the negotiations as they have been conducted in the past has been a serious mistake and it has led to deficiencies in terms of democratic control of the negotiation process;
Amendment 177 #
2014/2228(INI)
Motion for a resolution
Recital G c (new)
Recital G c (new)
Gc. whereas agriculture is at the heart of wider strategic issues such as food safety, sustainable development, societal choices and collective preferences and that the agricultural sectors in the EU and US differ considerably in many areas, such as consumer health aspects and food safety standards, including GMOs and hormone-treated meat;
Amendment 243 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point a – point i
Paragraph 1 – point a – point i
(i) to ensure that TTIP negotiations lead to a deep, comprehensive, ambitious, balanced and high-standard trade and investment agreement that would promote sustainable growth with shared benefits across EU Member States, support the creation of high-quality jobs for European workers, directly benefit European consumers by ensuring a high level of existing and future labour, social and environmental standards, fight tax evasion, tax avoidance and tax havens, increase international competitiveness, and open up new opportunities for EU companies, in particular SMEsmicro and SMEs, and contribute to attracting more foreign investments in the EU; the content of the agreement is more important than the speed of the negotiations, which should in any case take into account the developments in the global international arena;
Amendment 260 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point a – point ii
Paragraph 1 – point a – point ii
(ii) to emphasise that while the TTIP negotiations consist of negotiations on three main areas – ambitiously improving reciprocal market access (for goods, services, investment and public procurement at all levels of government), reducing NTBs and enhancing the compatibility of regulatory regimes, and developing common rules to address shared global trade challenges and opportunities – all these areas are equally important to be included in a comprehensive package; TTIP should be ambitious and binding on all levels of government on both sides of the Atlantic, the agreement should lead to lasting, fair, genuine market openness on a reciprocal basis and trade facilitation on the ground, and should pay particular attention to structural means of achieving greater transatlantic cooperation while upholding regulatory standards and preventing social and environmental dumping, including through a structured system of pre and post impact assessment and evaluation procedures, including a precise gender assessment;
Amendment 286 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point a – point iv
Paragraph 1 – point a – point iv
(iv) to ensure, especially given the recent positive developments in the World Trade Organisation (WTO), that an agreement with the US serves as a stepping-stone for broader trade negotiations and is not seen as an alternative to the WTO process; bilateral trade agreements are always the second-best option and must not prevent efforts in order to reach significant improvements on the multilateral level;
Amendment 307 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point b – point i
Paragraph 1 – point b – point i
(i) to ensure that the market access offers in the different areas are equally ambitious and reflect both parties’' expectations, as market access for industrial goods, raw materials, energy, agricultural products, services and public procurement is equally important in all cases and a balance is needed between the different proposals for these areas;
Amendment 397 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point b – point vi
Paragraph 1 – point b – point vi
(vi) to ensure an adequate carve-out of sexplicit exclusion of public services from the scope of application of TTIP as referred to in article 14 TFEU, through the introduction of an extensitive services such as public services and public utiliticarve-out in the core text of the agreement of all public services, current and future, covering all non-economic Services of General Interest as well as Services of General Economic Interest (including water, healthbut not limited to water, health, social services, social security systems and education) allowing, to ensure that national and local authorities enough room for manoeuvre to legislate in retain the full ability to introduce, adopt, maintain or repeal any measures with regards to the commissioning, organisation, funding and provision of public services as provided in article 106 TFEU and Protocol 26 TFEU; this exclusion should apply whether the services in question are organised as a monopoly, operating under exclusive rights or otherwise, and whether public interest; aly and privately funded and/or organised; notes the joint declaration reflecting negotiators’' clear commitment to exclude these sectors from the negotiations would be very helpful in this regard; ;
Amendment 453 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point b – point viii a (new)
Paragraph 1 – point b – point viii a (new)
(viiia) to aim at the mutual recognition of professional qualifications in order to enable EU and US professionals to practice on either side of the Atlantic and to facilitate mobility of investors, professionals, high-skilled workers and technicians between the EU and the US in sectors covered by TTIP;
Amendment 472 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point b – point x
Paragraph 1 – point b – point x
(x) to keep in mind that, as specified in the mandate, the agreement shouldall not riskcontain any provisions that prejudicinge the Union’'s cultural and linguistic diversity, including in; to therefore ensure that the audiovisual and cultural services sector, and thats well as existing and future provisions and policies in support of the cultural sector, in particular in the digital world, are kept out of the scope of the negotiations in accordance with the principle of technological neutrality, are kept out of the scope of the negotiations; to exclude subsidies or government support to audiovisual, educational and cultural services and its industries, including "digital products", from any commitments taken in chapters related to telecommunication, investment or e- commerce;
Amendment 489 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point b – point xi
Paragraph 1 – point b – point xi
(xi) to ensurake an ambitious approach to the tchat account is taken of the discrepancies in thepter on public procurement, with a view to remedying, in line with the principle of reciprocity, the major disparity currently existing in the degree of openness of the two public procurement markets on both sides of the Atlantic andand to significantly opening up the US market, still ruled under the Buy American Act of 1933 on the basis of the international undertakings entered into under the Agreement on Government Procurement (GPA) and of the removal of the restrictions currently applying at federal, state and administrative level alike in the United States; emphasises, in particular, the need to guarantee that undertakings entered into by the US federal authorities will be honoured at all political and administrative levels; to ensure that account is taken of the huge interest on the part of European companies in obtaining, notably SMEs, in obtaining non- discriminatory access to public contracts in the US both at federal and state level, for example for construction services, traffic infrastructure and goods and services while respecting sustainability criteria for procurement on both sides, inter alia; to ensure the compliance of the chapter with the new EU public procurement and concession package entering into force in 2016directives, notably as regards the definition of public-cooperation, exclusions, SMEs access and the use of the MEAT criteria;
Amendment 507 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point b – point xii
Paragraph 1 – point b – point xii
(xii) to ensure that public authorities have the opportunity to adopt socially and ecologically responsible procurement policies, and that procurement provisions do not hinder the ability of public authorities to address societal and environmental needs; to ensure that public procurement policies are kept in line with ILO Convention 94 regarding labour clauses in public contracts; to promote EU-US cooperation at the international level in order to promote sustainability standards for public procurement, inter alia in the implementation of the recently revised Government Procurement Agreement;
Amendment 549 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point c – point i
Paragraph 1 – point c – point i
(i) to ensure that the regulatory cooperation chapter promotes a broad, far reaching and structured dialogue with the US and an effective, pro- competitive economic environment through the facilitation of trade and investment while developing and securing high levels of protection of health and safety, consumer, labour and environmental legislation and of the cultural diversity that exists within the EU; to aim at the definition of high-quality standards and laws for consumers, established on the basis of the highest standards in each sector, bearing in mind that the results achieved will become de facto international standards; negotiators on both sides need, thus, to identify and to be very clear about which regulatory measures and standards are fundamental and cannot be compromised, which ones can be the subject of a common approach, which are the areas where mutual recognition based on a common high standard and a strong system of market surveillance is desirable and which are those where simply an improved exchange of information is possible, based on the experience of one and a half years of ongoing talks; stresses that SMEs are disproportionately affected by NTBs;
Amendment 572 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point c – point ii
Paragraph 1 – point c – point ii
(ii) to base negotiations on SPS and TBT measures on the key principles of the multilateral SPS and TBT agreements; to aim in the first place at increasingthe elimination or significant reduction of excessively burdensome SPS measures including related import procedures; in particular to ensure that pre-approvals, obligatory protocols or pre-clearance inspections are not applied as a permanent import measure; to achieve increased transparency and openness, strengthening of dialogue between regulators and strengthening of cooperation in international standards-setting bodies; to recognise, in negotiations on SPS and TBT measures, the right of both parties to manage risk in accordance with the level either deems appropriate in order to protect human, animal or plant life or health; to respect and uphold the sensitivities and fundamental values of either side, such as the EU’'s precautionary principle;
Amendment 593 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point c – point iii
Paragraph 1 – point c – point iii
(iii) with regard to the horizontal regulatory cooperation chapter, to give priority to fostering bilateral cooperation between regulatory bodies through enhanced information exchange and to promote the adoption, strengthening and timely implementation of international instruments, on the basis of successful international experiences such as, for instance, ISO standards or under the United Nations Economic Commission for Europe’'s (UNECE) World Forum for Harmonisation of Vehicle Regulations (WP.29); to establish that the prior impact assessment for the regulatory act, as defined in the horizontal provisions on regulatory cooperation, should also measure and prioritise the impact on consumers and, the environment next toand gender relations over its impact on trade and investment; to handle the possibility of promoting regulatory compatibility with great care and only without compromising legitimate regulatory and policy objectives;
Amendment 610 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point c – point v
Paragraph 1 – point c – point v
(v) to fully respect the established regulatory systems on both sides of the Atlantic, as well as the European Parliament’'s role within the EU’'s decision-making process and its democratic scrutiny over EU regulatory processes when creating the framework for future cooperation while at the same time being vigilant about a balanced involvement of stakeholders within the consultations included in the development of a regulatory proposal; in order to avoid that neither Party exercise any veto power before any regulatory proposal has been officially tabled by the other Party; to specify the role, the composition and the legal quality of the Regulatory Cooperation Council, taking into consideration that any direct and compulsory application of its recommendations would imply a breach of the law-making procedures laid down in the Treaties; to also oversee that it fully preserve the capacity of national, regional and local authorities to legislate their own policies, in particular social and environmental policies;
Amendment 681 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point d – point vii
Paragraph 1 – point d – point vii
(vii) to ensure that in course of the negotiations the two sides examine ways to facilitate natural gas and oil exports, so that TTIP would abolish any existing export restrictions on energy between the two trading partners, thereby supporting a diversification of energy sources aiding the development a more secure energy mix;
Amendment 723 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point d – point xi
Paragraph 1 – point d – point xi
(xi) to ensure that TTIP includes a specific chapter on SME’s and aims at creating new opportunities in the US for European SMEs, micro enterprises, clusters and enterprises networks, for instance by eliminating double certification requirements, by establishing a web-based information system about the different regulations, by introducing ‘fast- track’ procedures at the border or by eliminating specific tariff peaks that continue to exist; it should establish mechanisms for both sides to work together to facilitate SMEs’ participation in transatlantic trade, for instance through a common SME ’one-stop shop’; it should provide a specific part dedicated to the peculiar needs of micro enterprises, clusters and enterprises networks;
Amendment 745 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point d – point xiii
Paragraph 1 – point d – point xiii
(xiii) to ensure that investment protection provisions are limited to post- establishment provisions and focus on non- discrimination and fair and equitable treatment; standards of protection and definitions of investor and investment should be drawn up in a precise manner; stresses that substantive provisions shall, inter alia, protect the right to regulate in the public interest, clarify the meaning of indirect expropriation and prevent unfounded or frivolous claims; free transfer of capital should be in line with the EU treaty provisions and should include a prudential carve-out in the case of financial crises;
Amendment 763 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point d – point xiv
Paragraph 1 – point d – point xiv
(xiv) to ensure that foreign investors are treated in a non-discriminatory fashion and have a fair opportunity to seek and achieve redress of grievances, which can be achieved without the inclusion of an ISDS mechanism; such a mechanism is not necessary in TTIP given the EU’'s and the US’' developed legal systems; a state-to- state dispute settlement system and the use of national courts are the most appropriate tools to address investment disputes; should ISDS provisions be included in the TTIP, negotiations must avoid any rushed, methodologically unsound investor-to-state mechanism in TTIP;
Amendment 797 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point d – point xv
Paragraph 1 – point d – point xv
(xv) to ensure that TTIP includes an ambitious Intellectual Property Rights (IPR) chapter that includes strong protection of precisely and clearly defined areas of IPR, including enhanced protection and recognition of European Geographical Indications (GIs), and reflects a fair and efficient level of protection such as laid out in the EU’'s and the US’'s free trade agreement provisions in this area,; to ensure a fair balance between IPRs and the public interest, in particular the need to preserve access to affordable medicines while continuing to confirmsupport the existing flexibilities in the Agreement on Trade- Related Aspects of Intellectual Property Rights (TRIPS), notably in the area of public health;
Amendment 860 #
2014/2228(INI)
Motion for a resolution
Paragraph 1 – point e – point iv a (new)
Paragraph 1 – point e – point iv a (new)
(iva) to fully involve National Parliaments and keep them regularly informed on the negotiations, especially since, given the scope of the ambition for the agreement, it is likely TTIP will be considered a 'mixed- type' agreement and thus require a ratification process in EU Member States including, in some cases, at the regional level;
Amendment 3 #
2014/2205(INI)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
- having regard to its report of 19 May 2015 on Financing for Development and especially its call for the alignment of the private sector with the SDGs,
Amendment 8 #
2014/2205(INI)
Motion for a resolution
Citation 18 b (new)
Citation 18 b (new)
- having regard to the UNIDO's Lima Declaration: Towards Inclusive and Sustainable Industrial Development (ISID)1, __________________ 1 http://www.unido.org/fileadmin/Lima_De claration.pdf
Amendment 19 #
2014/2205(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
Ab. whereas the private sector is a very broad term encompassing a wide range of actors and needs to be specified;
Amendment 42 #
2014/2205(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Amendment 80 #
2014/2205(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas manufacturing with around 470 million jobs worldwide in 2009 and around half a billion jobs worldwide in 20131 , provides high potential for employment and wealth generation as well as for decent and highly qualified work; __________________ 1 https://www.unido.org/fileadmin/user_me dia/Research_and_Statistics/UNIDO_IDR _2013_main_report.pdf
Amendment 89 #
2014/2205(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Commission's initiative to endorse the private sector in becoming, alongside other governmental and non- governmental development organisations, a truen important partner in achieving inclusive and sustainable development, poverty reduction and empowerment of the local economies;
Amendment 92 #
2014/2205(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Calls the Commission to recognise the diversity of the private sector and the challenges that are faced in alleviating the poverty of the most marginalized and the hardest to reach;
Amendment 117 #
2014/2205(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Highlights the vast potential of the EU's value added in partnering with the private sector, in close coordination with its Member States, and relevant International Organisations;
Amendment 128 #
2014/2205(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls the Commission to prioritise investment in domestic small and medium sized enterprises (SMEs), as they offer the greatest potential to drive equitable development in countries;
Amendment 168 #
2014/2205(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Highlights that the defence of human rights, gender equality, social cohesion and the fight against inequalities should remain at the core of development activities; recalls the need to comply with agreed international standards such as the International Labour Organisation (ILO) standards and the UN Guiding Principles on Business and Human Rights; calls for binding international rules for firms on compliance with human rights, labour law and environmental standards and urges the European Commission to take the lead by developing a clearly defined framework agreement governing all partnership agreements with private sector in line with the Corporate Social Responsibility principles and standards;
Amendment 172 #
2014/2205(INI)
Motion for a resolution
Paragraph 9 c (new)
Paragraph 9 c (new)
9c. Calls for European development efforts to play a significant role in implementation of the UN Guiding Principles on Business and Human Rights, including working with European enterprises and investors to ensure full compliance with the guiding principles and the OECD Guidelines on Multinational Enterprise in their business activities and in their supply chains in developing countries;
Amendment 173 #
2014/2205(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Emphasises that the private sector and especially local SMEs must be part of the policy dialogue, including industrial policies, alongside all other development partners; recognises that the private sector includes actors such as social enterprises and Fairtrade organisations which have social and environmental principles built in to their work; calls on the Commission to recognise these efforts in its work on the role of the private sector in development;
Amendment 179 #
2014/2205(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Calls on the European Commission to champion the proposal from investors and other stakeholders to support binding rules on social, environmental and human rights reporting by business, consistent with the EU directive on non- financial reporting, which are encompassed as one of the new proposed UN Sustainable Development Goals;
Amendment 183 #
2014/2205(INI)
Motion for a resolution
Paragraph 10 c (new)
Paragraph 10 c (new)
10c. Calls for greater transparency in finance to help combat corruption and illicit financial flows, including through the development of fair and effective tax systems;
Amendment 213 #
2014/2205(INI)
Motion for a resolution
Paragraph 15 c (new)
Paragraph 15 c (new)
15c. Calls on the EU to work on strengthening capacity building of partner countries to assess when it is appropriate to engage in PPP projects and how to manage them in the public interest, including in planning, contract negotiation, management, accounting and minimising contingent liabilities;
Amendment 216 #
2014/2205(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Stresses, that support for local SMEs/SMIs can be enhanced not only through financing instruments, but also through technology transfer, capacity building, sustainable supplier development and business linkages;
Amendment 254 #
2014/2205(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Urges the Commission to give the highest primacy to the full compliance with development effectiveness principles like ownership, accountability and transparency, before expanding the scope of blending operations; insists that the Commission clearly demonstrates the financial and development additionality of EU grants for blended projects, as recommended by the Court of Auditors; calls on the Commission to democratise the governance structure of the EU Blending Platform and the regional blending facilities, by properly engaging with all relevant stakeholders at the local level, including partner governments, national parliaments, private sector actors, trade unions and local communities;
Amendment 255 #
2014/2205(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
Amendment 4 #
2014/2145(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Takes the view that it is absolutely vital for the democratic legitimacy of EMU to be improved substantially within the EU’s institutional framework and in line with the Community method; considers that the pieces of legislation based on intergovernmental treaties and implemented during the crisis have hampered the democratic legitimacy of the EMU and the European project;
Amendment 7 #
2014/2145(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Advocates, in this sense, for the establishment of a less complex, more efficient and transparent economic governance, aiming, in the long term perspective, at a deeper integration of the EU, while offering medium-term solutions to enable the Euro Zone and the Union to face the current challenges.
Amendment 9 #
2014/2145(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Calls forIs convinced that strengthening the involvement of Parliament in the economic governance process is a prerequisite to increase democratic legitimacy and calls to explore the path of legislative and interinstitutional agreements to be concluded between the European Parliament, the Commissenable the European Parliament, among other things, to be more formally involved in the key stages of the European Semester, with regards notably to the Annual Growth Survey, to the Euro Zone Recommendation and to the Council providing for parliamentary validation of the various stages oftry Specific Recommendations in order to remedy the double democratic deficit that is aggravated by the Ecuropean Semester, starting with the Annual Growth Surveyrent governance framework, both at national and at European levels;
Amendment 14 #
2014/2145(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Requests, in this regard, the adoption of the Annual Growth Survey under the codecision procedure; that the ESM is integrated into the EU legal framework and made formally accountable to the European Parliament, through the joint application of articles 352 and 136 of the TFEU; that the decision-making process within the Eurogroup operates in the interests of accountability and democratic legitimacy; and that, in the long term, the Commissioner for Economic Affairs chairs the Eurogroup;
Amendment 18 #
2014/2145(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Takes the view that the implementation of the economic dialogue needs to be scrupulously reviewed so as to ensure that there is proper parliamentary scrutiny at all stages of the procedure;
Amendment 21 #
2014/2145(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Believes that the elaboration of a new legal framework for future assistance programs should guarantee that all decisions are taken under the responsibility of the Commission with the full involvement of the European Parliament, in order to ensure full democratic legitimacy and accountability;
Amendment 28 #
2014/2145(INI)
Draft opinion
Paragraph 5
Paragraph 5
Amendment 34 #
2014/2145(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Recalls that a "Genuine Economic and Monetary Union" cannot be limited to a system of rules, but must be part of an ambitious political project, and that the necessary deepening of the EMU absolutely needs four interrelated conditions: a fiscal capacity, renewed assistance mechanisms, a social dimension, an institutional and democratic pillar;
Amendment 35 #
2014/2145(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Takes the view that the Commission communication on making the best use of flexibility within the rules of the SGP is a positive first step, but urges the Commission to extend the application of the "investment clause" to the corrective arm of the SPG, making use of a similar methodology that grounded the application of the "investment clause" to the preventive arm of the SGP;
Amendment 36 #
2014/2145(INI)
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5c. Takes the view that the social dimension of the EMU must be fully taken into account, whereas according to the Article 9 of the TFEU the promotion of high employment and social protection have to be taken into account when defining and implementing the policies and the activities of the EU. Calls for an equal treatment between the social rights and the internal Market's freedoms in the hierarchy of norms;
Amendment 37 #
2014/2145(INI)
Draft opinion
Paragraph 6
Paragraph 6
Amendment 42 #
2014/2145(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Stresses that the European Parliament shall fully play its part in the upcoming discussions and decisions and requests the President of the Commission to submit - an ambitious 'roadmap" outlining the necessary legislative and institutional progress to create the best future possible for the Euro Zone, the EU and its citizens.
Amendment 104 #
2012/0060(COD)
Proposal for a regulation
Title 1
Title 1
Amendment 108 #
2012/0060(COD)
Proposal for a regulation
Recital 5
Recital 5
Amendment 111 #
2012/0060(COD)
(6) Within the context of the WTO and through its bilateral relations, the Union advocates an ambitious opening of international public procurement markets of the Union and its trading partners, in a spirit of reciprocity and mutual benefit.
Amendment 114 #
2012/0060(COD)
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6a) The plurilateral WTO Agreement on Government Procurement and EU trade agreements that include provisions on procurement provide for market access for Union economic operators only to the procurement markets of third countries that are parties to these agreements.
Amendment 117 #
2012/0060(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) If thea third country concerned is a Party to the WTO Agreement on Government Procurement or has concluded a trade agreement with the EU that includes provisions on public procurement, the Commission should follow the consultation mechanisms and/or dispute settlement procedures set out in thatose agreements when the restrictive practices relate to procurement covered by market access commitments undertaken by the country concernedat third country towards the Union.
Amendment 121 #
2012/0060(COD)
(8) Many third countries are reluctant to open their public procurement and their concessions markets to international competition, or to open those markets further than what they have already done. As a result, Union economic operators face restrictive procurement practices in many of the trading partners of the Union. Those restrictive procurement practices result in the loss of substantial trading opportunities.
Amendment 125 #
2012/0060(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Regulation (EU) No 654/2014 of the European Parliament and of the Council174 lays down rules and procedures in order to ensure the exercise of the Union's rights under international trade agreements concluded by the Union. No such rules and procedures exist for the treatment of economic operators, goods and services not covered by such international agreements. _________________ 174 Regulation (EU) No 654/2014 of the European Parliament and of the Council of 15 May 2014 concerning the exercise of the Union's rights for the application and enforcement of international trade rules and amending Council Regulation (EC) No 3286/94 laying down Community procedures in the field of common commercial policy in order to ensure the exercise of the Community’s rights under international trade rules, in particular those established under the auspices of the World Trade Organization (OJ L 189, 27.6.2014, p. 50.)
Amendment 130 #
2012/0060(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) In the interest of legal certainty for Union and third-country economic operators, contracting authorities and contracting entiternational market access commitments undertaken by the Union towards third countries in the field of procurement and concessions require, inter alia, the equal treatment of economic operators from those countries. Consequently, measures adopted under this Regulation can only apply to economic operators, goods or services from countries that are not parties to the plurilateral WTO Agreement on Government Procurement or to bilateral or multilateral trade agreements with the Union that include commitments on access to procurement and concessions markets, or from countries that are parties, the international market access commitments undertaken by the Union towardso such agreements but only regarding procurement procedures for goods, services or concessions that are not covered by those agreements. Irrespective of the application of measures adopted under this Regulation, and in accordance with the Communication from the Commission of 24 July 2019 on ‘Guidance on the participation of third- countries in the field of public procurement and concessions should be reflected in the legal order of the EU, thy bidders and goods in the EU procurement market’ and with Directives 2014/23/EU, 2014/24/EU and 2014/25/EU of the European Parliament and of the Council, economic operators from third countries which do not have any agreement providing for the opening of the Union’s procurement market or whose goods, services and works are not covered by ensuring effective application thereof. such an agreement, do not have secured access to procurement procedures in the Union and could be excluded.
Amendment 136 #
2012/0060(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) The objeffectives of application of any measure adopted under this Regulation with a view to improving the access of Union economic operators to the public procurement and concessions markets of certain third countries protected by restrictive and discriminatory procurement measures or practices and of preserving equal conditions of competition within the internal market require to refer to the non-preferential rules of origin established in the EU customs legislation, so that contracting authorities and contracting entities know whether goods and services are covered by the international commitments of the Unionrequires a clear set of rules of origin for economic operators, goods and services.
Amendment 138 #
2012/0060(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) The origin of a good should be determined in accordance with Article 22s 59 to 262 of Council Regulation (EECU) No 2913/199218 952/20135 of the European Parliament and of the Council. _________________ 18Council 5Regulation (EECU) No 2913/1992 of 12 October 1992 establishing the Community952/2013 of the European Parliament and of the Council of 9 October 2013 laying down the Union Customs Code (OJ L 302, 9.10.1992269, 10.10.2013, p. 1)
Amendment 140 #
2012/0060(COD)
(14) The origin of a service should be determined on the basis of the origin of the natural or legal person providing it. The origin of a legal person should be considered to be the country under the laws of which a legal person is constituted or organised and in the territory of which the legal person is engaged in substantive business operations. The criterion of substantive business operations should not allow the potential circumvention of any measure adopted under this Regulation by the creation of letterbox companies. The term ‘substantive business operations’ is a concept used in the WTO General Agreement on Trade in Services. In Union law it is equivalent to the term ‘effective and continuous link with the economy’ and is closely linked to the right of establishment set out in Article 49 of the Treaty on the Functioning of the European Union. The Commission regularly publishes guidelines based on the case law related to the right of establishment, addressing, inter alia, the concept of effective or stable and continuous link with the economy. Article 86 of Directive 2014/25/EU also refers to the concept of “direct and effective link with the economy” which is equivalent to the concept of ‘substantive business operations’.
Amendment 142 #
2012/0060(COD)
Proposal for a regulation
Recital 15
Recital 15
Amendment 147 #
2012/0060(COD)
Proposal for a regulation
Recital 16
Recital 16
Amendment 158 #
2012/0060(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) When assessing whether restrictive and/or discriminatory procurement measures or practices exist in a third countryspecific measures or practices exist in a third country that could result in the impairment of access of Union goods, services or economic operators to the procurement or concession markets, the Commission should examine to what degree laws on public, rules or other measures on procurement and concessions of the country concerned ensure transparency in line with international standards in the field of public procurement, and do not result in serious and preclude any discriminaurring restrictions against Union goods, services andor economic operators. In addition, it should examine to what degree individual contracting authorities or contracting entities maintain or adopt discriminatoryrestrictive practices against Union goods, services andor economic operators.
Amendment 167 #
2012/0060(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) The Commission should be able, on its own initiative or at the application of interested parties or a Member State, to initiate at any time an investigation into restrictive procurement measures or practices allegedly adopted or maintained by a third country. . Such investigative procedures should be without prejudice to Regulation (EU) No 654/2014 of the European Parliament and of the Council , if it considers that such an investigation is in the interest of the Union.
Amendment 172 #
2012/0060(COD)
Proposal for a regulation
Recital 19 a (new)
Recital 19 a (new)
(19a) The determination whether an investigation is in the interest of the Union should be based on an appreciation of all the various interests taken as a whole, including the interests of the domestic industry, users, consumers, workers and social partners. The Commission is in any case responsible of determining the interest of the Union, and should weigh up the consequences of starting an investigation against its impact, and the potential measures that could be adopted under this Regulation on EU’s broader interests. The general objective of opening third-country markets and improving market access opportunities for Union economic operators should be taken into account. The objective of limiting any unnecessary administrative burden for contracting authorities and contracting entities as well as economic operators should also be taken into account.
Amendment 176 #
2012/0060(COD)
Proposal for a regulation
Recital 19 b (new)
Recital 19 b (new)
(19b) Given the overall policy objective of the Union to support the economic growth of least developed countries (LDCs) and their integration into global value chains, it would not be in the Union’s interest to start an investigation against such countries under this Regulation, unless there are reasonable indications of circumvention of any adopted IPI measures. Consequently, this Regulation is not intended to apply to LDCs benefitting from the "Everything But Arms" arrangement as defined in Regulation (EU) No 978/2012.
Amendment 183 #
2012/0060(COD)
Proposal for a regulation
Recital 20
Recital 20
(20) If the existence of a restrictive and/or discriminatory procurement measure or practice in a third country is confirmedWhen conducting the investigation, the Commission should invite the third country concerned to enter into consultations with a view to eliminating any restrictive measures or practices and improving the tendering opportunities for Union economic operators, goods and services in respect of public procurementregarding procurement and concessions markets in that country.
Amendment 185 #
2012/0060(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) If the investigation confirms the existence of restrictive measures or practices and the consultations with the country concerned do not lead to sufficient satisfactory corrective actions that result in improvements to the tendering opportunities for Union economic operators, goods and services within a reasonable timeframe, the Commission, where appropriate, should be able to adopt, where appropriate, price adjustment measure applying to tenders submitted by economic operators originating in that country and/or including goods and services originating in that country under this Regulation measures (‘IPI measures’) in the form of a score adjustment or of exclusion of tenders.
Amendment 193 #
2012/0060(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) SuchA score adjustment measures should be applied only for the purpose of the evaluation of tenders comprising goods or servicesubmitted by economic operators originating in the country concerned. To avoid circumvention of those measures, it may also be necessary to target certain foreign-controlled or owned legal persons that, although established in the European Union, are not engaged in substantive business operations that have a direct and effective link withIt should not affect the price actually due to be paid under the economy of at least one Member State . Appropriate measures should not be disproportionate to the restrictive procurement practices to which they respondtract to be concluded with the successful tenderer.
Amendment 197 #
2012/0060(COD)
Proposal for a regulation
Recital 23 a (new)
Recital 23 a (new)
(23a) IPI measures should apply to procurement procedures falling under the scope of this Regulation, including framework agreements and dynamic purchasing systems. IPI measures should also apply in the case of specific contracts awarded under a dynamic purchasing system, when those dynamic purchasing systems were subject to an IPI measure. However, they should not apply to such contracts below a certain threshold with a view to limiting the overall administrative burden for contracting authorities and contracting entities. In order to avoid a possible double application of IPI measures, such measures should not apply to contracts awarded based on a framework agreement, once they have already been applied at the stage of concluding that framework agreement.
Amendment 200 #
2012/0060(COD)
Proposal for a regulation
Recital 23 b (new)
Recital 23 b (new)
(23b) In the light of the overall policy objective of the Union to support small and medium-sized enterprises (SMEs), the Commission and contracting authorities and contracting entities should duly consider the effects of this Regulation, with a view to preventing an overburdening of SMEs. The Commission in cooperation with the Member States should make available guidelines for best practices to achieve this objective, in order to ensure the efficiency of this Regulation and the consistency of its implementation.
Amendment 202 #
2012/0060(COD)
Proposal for a regulation
Recital 23 c (new)
Recital 23 c (new)
(23c) To avoid possible circumvention of an IPI measure, it will also be necessary to impose additional contractual obligations on any successful tenderer. Those obligations should apply only in case of procurement procedures to which an IPI measure is applicable, as well as to contracts awarded based on a framework agreement where such contracts are equal or above a certain threshold and when that framework agreement was subject to an IPI measure.
Amendment 205 #
2012/0060(COD)
Proposal for a regulation
Recital 24
Recital 24
Amendment 213 #
2012/0060(COD)
Proposal for a regulation
Recital 25
Recital 25
Amendment 217 #
2012/0060(COD)
Proposal for a regulation
Recital 26
Recital 26
Amendment 225 #
2012/0060(COD)
Proposal for a regulation
Recital 27
Recital 27
(27) It is imperative that contracting authorities and contracting entities have access to a range of high-quality products meeting their purchasing requirements at a competitive price. Therefore contracting authorities and contracting entities should be able not to apply price adjustment, on an exceptional basis, not to apply IPI measures limiting access of non- covered goods and services in casef there are no Union and/or covered goods or services available which meet the requirements of the contracting authority or contracting entity or where such action relates to safeguarding essential public policy needs, for example in the fields of health andregarding public safeecurity, or where the application of the measure would lead to a disproportionate increase in the price or costs of the contractpublic health emergencies.
Amendment 229 #
2012/0060(COD)
Proposal for a regulation
Recital 28
Recital 28
(28) In case of misapplication of IPI measures by contracting authorities or contracting entities of exceptions to price adjustment measures limiting access of non-covered goods and services, the Commission should be able to apply the corrective mechanism of Article 3 of, which negatively affects the chances to participate in the procurement procedure of economic operators having such a right, Council Directives 89/665/EEC20 or Article 8 of Council Directive 92/13/EEC21 . In addition, contracts concluded with an economic operator by contracting authorities or contracting entiti and 92/13/EEC should be applicable. The affected economic operator could therefore initiate a review procedure according to the national law implementing these Directives, in violation of price adjustment measures limiting access of non-covered goods and services should be ineffectivef, for example, a competing economic operator should have been excluded. The Commission should also be able to apply the corrective mechanism according to Article 3 of Council Directive 89/665/EEC19 or Article 8 of Council Directive 92/13/EEC20. _________________ 2019Council Directive 89/665/EEC on the coordination of the laws, regulations and administrative provisions relating to the application of review procedures to the award of public supply and public works contracts (OJ L 395, 30.12.1989, p. 33). 2120Council Directive 92/13/EEC coordinating the laws, regulations and administrative provisions relating to the application of Community rules on the procurement procedures of entities operating in the water, energy, transport and telecommunications sectors (OJ L 76, 23.3.1992, p. 14).
Amendment 233 #
2012/0060(COD)
Proposal for a regulation
Recital 30
Recital 30
(30) The examination procedure should be used for the adoption of implementing acts regarding the adoption, withdrawal, or suspension or reinstatement of a the price adjustment measuren IPI measure and the Commission should be assisted by the Committee set up under the Trade Barriers Regulation. If necessary and for matters affecting the Union’s legal framework on public procurement, the Commission may also seek the advice of the Advisory Committee on Public Procurement established by Council Decision 71/306/EEC.
Amendment 235 #
2012/0060(COD)
Proposal for a regulation
Recital 30 a (new)
Recital 30 a (new)
(30a) Information received pursuant to this Regulation should only be used for the purpose for which it was requested and with due respect to the applicable Union and national data protection and confidentiality requirements. Regulation (EC) No 1049/2001 as well as Article 28 of Directive 2014/23/EU, Article 21 of Directive 2014/24/EU and Article 39 of Directive 2014/25/EU, should apply accordingly.
Amendment 238 #
2012/0060(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) Regular reporting by the Commission should make it possible to monitor the applicaIn line with the Interinstitutional Agreement of 13 April 2016 on Better Law-Making9a and with a view, inter alia, to reduce administrative burdens, in particular on Member States, the Commission should regularly review the scope, functioning and efficiency of the procedures established by this Regulationis Regulation. The Commission should report on its assessment to the European Parliament and the Council. The review may be followed up by appropriate legislative proposals.
Amendment 241 #
2012/0060(COD)
Proposal for a regulation
Recital 33
Recital 33
Amendment 242 #
2012/0060(COD)
Proposal for a regulation
Recital 33 a (new)
Recital 33 a (new)
(33a) It is also imperative that, in view of an appropriate integration of environmental, social and labour requirements, Member States take relevant measures to ensure compliance with obligations in the fields of environmental, social and labour law that apply at the place where the works are executed and result from international obligations, laws, regulations, decrees and decisions, at both national and Union level, as well as from collective agreements.
Amendment 244 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 1
Article 1 – paragraph 1 – subparagraph 1
This Regulation establishes measures intended to improve the access of Union economic operators, goods and services to the public procurement and concessions markets of third countries, in respect of non-covered procurement. It lays down procedures for the Commission to undertake investigations into alleged restrictive and discriminatory procurement measures or practices adopted or maintained by third countrithird country measures or practices against Union economic operators, goods and services, and to enter into consultations with the third countries concerned.
Amendment 248 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
Amendment 252 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 3
Article 1 – paragraph 3
Amendment 256 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 4
Article 1 – paragraph 4
Amendment 260 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 4 a (new)
Article 1 – paragraph 4 a (new)
4a. The application of this Regulation shall be without prejudice to any international obligations of the Union or measures that Member States and their contracting authorities and contracting entities may take in accordance with the acts mentioned in paragraph 2.
Amendment 262 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Amendment 268 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 5 a (new)
Article 1 – paragraph 5 a (new)
5a. This Regulation shall apply only to procurement procedures launched after its entry into force. An IPI measure shall only apply to procurement procedures which are covered by the IPI measure and have been launched at any moment between the entry into force of that IPI measure and its expiry, withdrawal or suspension. A reference to the application of this Regulation and any applicable IPI measure shall be included by contracting authorities and contracting entities in the procurement documents for procedures falling within the scope of an IPI measure.
Amendment 269 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 5 b (new)
Article 1 – paragraph 5 b (new)
5b. Member States shall take appropriate measures to ensure that in the performance of public contracts economic operators comply with applicable obligations in the fields of environmental, social and labour law established by Union law, national law, collective agreements or by the international environmental, social and labour law provisions listed in Annex X of the Directive 2014/24/EU and of the Paris Agreement.
Amendment 270 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
(a) 'economic operator' means any natural or legal person or public entity or group of such persons and/or entities, including any temporary association of undertakings, which submits a tender for the ex economic operator as defined in Direcution of works and/or a work, the supply of goods or the provision of services on the marketves 2014/23/EU, 2014/24/EU and 2014/25/EU respectively;
Amendment 274 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point a a (new)
Article 2 – paragraph 1 – point a a (new)
Amendment 277 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point a b (new)
Article 2 – paragraph 1 – point a b (new)
(ab) 'estimated value’ means estimated value as calculated in accordance with Directives 2014/23/EU, 2014/24/EU and 2014/25/EU respectively;
Amendment 278 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point a c (new)
Article 2 – paragraph 1 – point a c (new)
(ac) 'score adjustment measure’ means the relative diminution by a given percentage of the score of a tender resulting from its evaluation by a contracting authority or a contracting entity on the basis of the contract award criteria defined in the procurement documents. For the purposes of contract award criteria, Member States shall integrate environmental, social and labour requirements that apply at the place where the works are executed and result from international obligations, laws, regulations, decrees and decisions, at both national and Union level, as well as from collective agreements. In cases where price or cost is the only contract award criterion, the score adjustment measure means the relative increase, for the purpose of the evaluation of tenders, by a given percentage of the price offered by a tenderer;
Amendment 281 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point b
Article 2 – paragraph 1 – point b
(b) ‘contracting authority’ means ‘a contracting authority’ as defined in Article 2(1) of Directive 2014/24/EUDirectives 2014/23/EU, 2014/24/EU and 2014/25/EU respectively;
Amendment 282 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point c
Article 2 – paragraph 1 – point c
(c) ‘contracting entity’ means a 'contracting entity' as defined in Article 4(1) of Directive 2014/25/EU and Article 7 of Directive 2014/23/EU ;
Amendment 284 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point d
Article 2 – paragraph 1 – point d
Amendment 286 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point e
Article 2 – paragraph 1 – point e
Amendment 290 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point f
Article 2 – paragraph 1 – point f
(f) ‘restrictive and/or discriminatory procurementthird country measure or practice’ means any legislative, regulatory or administrative measure, procedure or practice, or combination thereof, adopted or maintained by public authorities or individual contracting authorities or contracting entities in a third country, that result in a serious and recurrent impairment of access of Union goods, services and/or economic operators to the public procurement or concession market of that countrys.
Amendment 291 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point f a (new)
Article 2 – paragraph 1 – point f a (new)
(fa) ‘IPI measure’ means a measure adopted by the Commission in accordance with this Regulation limiting the access of economic operators and/or goods and services originating in the third country to the Union procurement or concessions market in the area of non-covered procurement;
Amendment 293 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point f b (new)
Article 2 – paragraph 1 – point f b (new)
(fb) ‘non-covered procurement’ means procurement procedures for goods, services or concessions regarding which the Union has not undertaken market access commitments in an international agreement in the field of procurement or concessions;
Amendment 296 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point f c (new)
Article 2 – paragraph 1 – point f c (new)
(fc) ‘contract’ means public contracts as defined in Directive 2014/24/EU, concessions as defined in Directive 2014/23/EU and supply, works and service contracts as defined in Directive 2014/25/EU;
Amendment 297 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point f d (new)
Article 2 – paragraph 1 – point f d (new)
(fd) ‘tenderer’ means a tenderer as defined in Directives 2014/23/EU, 2014/24/EU and 2014/25/EU respectively;
Amendment 301 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point h
Article 2 – paragraph 1 – point h
Amendment 303 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point h a (new)
Article 2 – paragraph 1 – point h a (new)
(ha) 'Union interest' means a determination as to whether the Union's interest calls for intervention shall be based on an appreciation of all the various interests taken as a whole, including the interests of the domestic industry and users and consumers. Measures may not be applied where the authorities, on the basis of all the information submitted, can clearly conclude that it is not in the Union's interest to apply such measures. (See mutatis mutandis Article 21 Regulation (EU) 2016/1036 of the European Parliament and of the Council of 8 June 2016 on protection against dumped imports from countries not members of the European Union (codification))
Amendment 304 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point h a (new)
Article 2 – paragraph 1 – point h a (new)
(ha) ‘Evidence’ means any information, certificate, supporting document, statement and other means of proof aimed at proving compliance with the obligations set out in Art. 7.1 (c). This may refer to: (i) certificates of origin, supplier declarations or import declarations for goods originating in third countries; (ii) description of manufacturing processes (including samples, descriptions or photographs) for goods to be supplied; and (iii) extract of relevant registers or of financial statements for the origin of services, including a VAT identification number;
Amendment 308 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 2
Article 2 – paragraph 2
2. For the purpose of this Regulation, except for Articles 5(3) and 5(7), the execution of works and/or a work within the meaning of Directives 2014/253/EU, 2014/24/EU and Directive 2014/235/EU shall be considered as the provision of a service.
Amendment 310 #
Amendment 312 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
Amendment 314 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
Amendment 315 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – point a
Article 3 – paragraph 3 – point a
(a) in the case of a natural person, the country of which the person is a national or where hethat person has a right of permanent residence;
Amendment 318 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – point b – point i
Article 3 – paragraph 3 – point b – point i
(i) if the service is not provided through a commercial presence within the Union, the country under the laws of which the legal person is constituted or otherwise organised and in the territory of which the legal person is engaged in substantive business operations, entailing a direct and effective link with the economy of the country concerned;
Amendment 320 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – point b – point ii
Article 3 – paragraph 3 – point b – point ii
Amendment 322 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 2
Article 3 – paragraph 3 – subparagraph 2
Amendment 324 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3
Article 3 – paragraph 3 – subparagraph 3
Amendment 326 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3 a (new)
Article 3 – paragraph 3 – subparagraph 3 a (new)
Where an economic operator is a group of natural or legal persons and/or public entities, and at least one of such persons or entities originates from the third country whose economic operators and goods and services are subject to the IPI measure, the IPI measure shall equally apply to tenders submitted by that group. This shall not apply in cases in which such persons' or entities' participation in a group amounts to less than 15% of the value of the tender in question, unless that person or entity is necessary for fulfilling the majority of at least one of the selection criteria in a procurement procedure.
Amendment 327 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3 b (new)
Article 3 – paragraph 3 – subparagraph 3 b (new)
Contracting authorities or contracting entities may at any time during the procurement procedure request the economic operator to submit, supplement, clarify or complete the information or documentation related to the verification of the economic operator's origin within an appropriate time limit, provided that such requests are made in full compliance with the principles of equal treatment and transparency. Tenders from economic operators that fail to provide such information or documentation may be rejected in accordance with the rules applicable to the award procedure.
Amendment 328 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3 c (new)
Article 3 – paragraph 3 – subparagraph 3 c (new)
For the application of the additional contractual obligations upon the successful tenderer set out in Article 7, the origin of a good shall be determined in accordance with Articles 59 to 62 of Council Regulation (EEC) No 952/2013, while the origin of a service shall be determined on the basis of the origin of the economic operator providing it.
Amendment 330 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 4
Article 3 – paragraph 3 – subparagraph 4
Amendment 333 #
Amendment 337 #
2012/0060(COD)
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
Tenders shall be exempted from this Regulation where more than 50% of the total value of the tender is made up of goods and/or servicesthey have been submitted by an economic operator originating in least- developed countries listed in Annex IV to Regulation (EU) No 978/201227 , and in developing countries considered to be vulnerable due to a lack of diversification and insufficient integration within the international trading system as defined in Annex VII to Regulation (EU) No 978/2012. _________________ 27Regulation (EU) No 978/2012 of the European Parliament and of the Council applying a scheme of generalised tariff preferences and repealing Council Regulation (EC) No 732/2008 (OJ L 303, 31.10.2012, p. 1).
Amendment 341 #
2012/0060(COD)
Proposal for a regulation
Article 5
Article 5
Amendment 344 #
2012/0060(COD)
Investigations, consultations and price adjustment measure, measures and contractual obligations
Amendment 347 #
Amendment 350 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1
Article 6 – paragraph 1 – subparagraph 1
Amendment 355 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1 a (new)
Article 6 – paragraph 1 – subparagraph 1 a (new)
Upon publication of the notice, the Commission shall invite the third country concerned to submit its views, provide information and enter into consultations with the Commission in order to remove the alleged third country measure or practice. The Commission shall regularly inform Member States, within the Committee set up by Article 7 of the Council Regulation (EU) 2015/1843 (Trade Barriers Regulation), the interested parties and the European Parliament.
Amendment 360 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The assessment by the Commission of whether the alleged restrictive and/or discriminatory procurement measures or practices have been adopted or are maintained by the third country concerned shall be made on the basisinvestigation and consultations shall be concluded within a period of six months after the date of the publication in the Official Journal of the informitiation supplied by interested parties and Member States, of facts collected by the Commission during its investigation, or both. The assessment shall be concluded within a period of eight months after the initiation of the investigation. In duly justified cases, this period may be extended by four monthnotice. In duly justified cases, the Commission may, before the end of the initial six months, extend that period by three months, by publishing a notice in the Official Journal of the European Union and informing the third country, interested parties and Member States.
Amendment 364 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 2 a (new)
Article 6 – paragraph 2 a (new)
2a. Upon conclusion of the investigation and consultations, the Commission shall make publicly available a report recording the main findings of the investigation and a proposed course of action. The Commission shall present the report to the European Parliament.
Amendment 368 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. Where the Commission concludes as a result offinds, following its investigation that the alleged restrictive and/or discriminatory procurementthird country measures or practices areis not maintained or that ithey does not result in restrictions toserious and recurrent impairment of access byof Union economic operators or Union goods andor services to the public procurement or concession markets of the third country concerned, the Commission shall terminate the investigation. and publish a notice of termination in the Official Journal of the European Union.
Amendment 370 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
Amendment 374 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 4 a (new)
Article 6 – paragraph 4 a (new)
Amendment 375 #
Amendment 387 #
2012/0060(COD)
Proposal for a regulation
Article 8
Article 8
Amendment 429 #
2012/0060(COD)
Proposal for a regulation
Article 8 a (new)
Article 8 a (new)
Amendment 433 #
2012/0060(COD)
Proposal for a regulation
Article 9
Article 9
Authorities or entities concerned The Commission shall determine the contracting authorities or entities or categories of contracting authorities or entities, listed by Member State, whose procurement is concerned by the measure. To provide the basis for this determination, each Member State shall submit a list of appropriate contracting authorities or entities or categories of contracting authorities or entities. The Commission shall ensure that an appropriate level of action is taken and that a fair distribution of the burden among Member States is achieved.rticle 9 deleted
Amendment 439 #
2012/0060(COD)
Proposal for a regulation
Article 9 a (new)
Article 9 a (new)
Article 9a Additional contractual obligations upon the successful tenderer 1. In the case of procurement procedures to which an IPI measure is applicable, as well as in the case of contracts awarded based on a framework agreement where the estimated value of those contracts is equal or above the respective values set out in Article 8 of Directive 2014/23/EU, Article 4 of Directive 2014/24/EU and Article 15 of Directive 2014/25/EU and when those framework agreements were subject to the IPI measure, contracting authorities and contracting entities shall also include, among the conditions of the contract with the successful tenderer: (a) a commitment not to subcontract more than 25% of the total value of the contract to economic operators originating in a third country which is subject to an IPI measure; (b) for contracts whose subject matter covers the supply of goods, a commitment that, for the duration of the contract, goods and/or services supplied or provided in the execution of the contract and originating in the third country which is subject to the IPI measure represent no more than 25% of the total value of the contract, whether such goods and/or services are supplied or provided directly by the tenderer or by a subcontractor; (c) an obligation to provide upon request adequate evidence corresponding to points (a) and/or (b)to the contracting authority or the contracting entity at the latest upon completion of the execution of the contract; (d) a proportionate charge, in case of non-observance of the commitments referred in points (a) or (b) of 25% of the total value of the contract. 2. For the purposes of paragraph 1(c) it is sufficient to provide evidence that more than 75% of the total value of the contract originates in countries other than the third country subject to the IPI measure. The contracting authority or contracting entity shall request evidence in case of reasonable indications of incompliance with paragraph 1(a) and/or1(b) or if the contract is awarded to a group of economic operators comprising a legal person originating in the country subject to an IPI measure. 3. A reference to the additional conditions laid down in this Article shall be included by contracting authorities and contracting entities in the documents for procurement procedures to which an IPI measure is applicable.
Amendment 443 #
2012/0060(COD)
Proposal for a regulation
Article 10
Article 10
Amendment 449 #
Amendment 466 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 1 – introductory part
Article 12 – paragraph 1 – introductory part
1. Contracting authorities and contracting entities may, on an exceptional basis, decide not to apply the price adjustmentIPI measure with respect to a procurement or a concession procedure if:
Amendment 470 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point a
Article 12 – paragraph 1 – point a
Amendment 475 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point a a (new)
Article 12 – paragraph 1 – point a a (new)
(aa) there are only tenders from economic operators originating in the country subject to an IPI measure, or only such tenders meet the tender requirements; or
Amendment 480 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point a b (new)
Article 12 – paragraph 1 – point a b (new)
(ab) this is justified for overriding reasons relating to the public interest, public security or public health emergencies.
Amendment 483 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point b
Article 12 – paragraph 1 – point b
Amendment 486 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 2
Article 12 – paragraph 2
2. Where a contracting authority or contracting entity intenddecides not to apply a price adjustmentn IPI measure , it shall indicate its intention in the contract notice that it publishes pursuant to Article 49 of Directive 2014/24/EU or Arform the Commission, in a manner to be decided by the respective Member State, no later than thirty calendar days after the publication of the contract noticle 69 of Directive 2014/25/EU or in the concession notice pursuant to Article 31 of Directive 2014/23/EU. It shall notify the Commission no later than ten calendar days after the publication of the contract noticethe award of the contract. The Commission may object to a non- application of an IPI measure if the notification lacks sufficient justification. If the Commission intends to object to the non-application of an IPI measure, it shall notify the contracting authority or contracting entity within the aforementioned time period.
Amendment 492 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – introductory part
Article 12 – paragraph 3 – introductory part
3. The notification shall contain the following information: information on the origin of the economic operators that have submitted a tender, due justification of the use of the exception and, where appropriate, any other information deemed useful by the contracting authority or contracting entity.
Amendment 495 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – point a
Article 12 – paragraph 3 – point a
Amendment 496 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – point b
Article 12 – paragraph 3 – point b
Amendment 498 #
2012/0060(COD)
Amendment 499 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – point d
Article 12 – paragraph 3 – point d
Amendment 502 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – point e
Article 12 – paragraph 3 – point e
Amendment 503 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – subparagraph 2
Article 12 – paragraph 3 – subparagraph 2
The Commission may ask the contracting authority or contracting entityMember State concerned for additional information.
Amendment 504 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 4 – subparagraph 1
Article 12 – paragraph 4 – subparagraph 1
Amendment 507 #
2012/0060(COD)
Amendment 508 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 4 – subparagraph 2 – point b
Article 12 – paragraph 4 – subparagraph 2 – point b
Amendment 509 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 4 – subparagraph 2 – point c
Article 12 – paragraph 4 – subparagraph 2 – point c
Amendment 510 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 4 – subparagraph 2 – point d
Article 12 – paragraph 4 – subparagraph 2 – point d
Amendment 511 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 4 – subparagraph 2 – point e
Article 12 – paragraph 4 – subparagraph 2 – point e
Amendment 512 #
Amendment 514 #
2012/0060(COD)
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
Amendment 515 #
2012/0060(COD)
Proposal for a regulation
Article 13 – paragraph 2
Article 13 – paragraph 2
Amendment 518 #
2012/0060(COD)
Proposal for a regulation
Article 13 a (new)
Article 13 a (new)
Article 13a Remedies To ensure legal protection of economic operators having or having had an interest in obtaining a particular contract falling under the scope of this Regulation, Council Directive 89/665/EEC and Council Directive 92/13/EEC shall apply accordingly
Amendment 521 #
2012/0060(COD)
Proposal for a regulation
Article 15
Article 15
Amendment 523 #
2012/0060(COD)
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
Amendment 531 #
2012/0060(COD)
Proposal for a regulation
Article 17 a (new)
Article 17 a (new)
Article 17a Review No later than three years after the adoption of an implementing act or after the date of entry into force of this Regulation, whichever is the earliest, and every three years thereafter, the Commission shall review the scope, functioning and efficiency of this Regulation, and shall report its findings to the European Parliament and the Council.