Activities of Jean ARTHUIS related to 2015/2344(INI)
Shadow reports (1)
REPORT on budgetary capacity for the Eurozone PDF (616 KB) DOC (93 KB)
Amendments (37)
Amendment 24 #
Motion for a resolution
Citation 15 a (new)
Citation 15 a (new)
– having regard to the declaration ‘Greater European Integration : the way forward’ signed by the Presidents of the Italian Camera dei deputati, the German Bundestag, the French National Assembly and Luxembourg’s Chamber of Deputies;
Amendment 31 #
Motion for a resolution
Recital A
Recital A
A. whereas the Treaty on European Union establishes the creation of the single market, and a European Monetary Union whose currency is the euro; whereas the European Monetary Union currently consists of 19 members, two of whomSingle Market consists of the 28 members of the EU and the European Monetary Union currently consists of 19 members; whereas all but two Member States are bound to join the euro; whereas the two Member States not bound to join the euro have ‘opt-outs’ clauses, the remaining seven EU Member States having yet to join;at are different in nature and scope as only the United Kingdom is not committed to join the euro whereas no financial liability will be incurred by the two countries with opt-outs from EMU in the framework of any fiscal capacity for the euro area;
Amendment 71 #
Motion for a resolution
Recital E
Recital E
E. whereas it became apparent during the sovereign debt crisis that the European Treaties do not provide the euro area with the instruments to deal effectively with shocks; whereas the rules-based system, with loose adherence to the rules by the Member States, and mere coordination of national economic policies failed to provide the required resilience during the crisis;
Amendment 85 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas the Euro acted as a shield during the financial crisis and whereas many Member States would have experienced a worse situation without it; whereas improvements are however required for the Euro to really meet its promises and potential;
Amendment 104 #
Motion for a resolution
Recital H
Recital H
H. whereas the Community method was abandoned in favour of intergovernmental agreements in order to allow for rapid responses in the crisis; whereas this has made the European Council the leading actor in the crisis, while the European Parliament and its national counterparts have been side-lined and the European Commission relegated to a role of secretariat of the European Council;
Amendment 154 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Considers, against this background, that shortcomings have existed in the Economic and Monetary Union (EMU) since its inception under the Maastricht Treaty with the attribution of monetary policy to the European level, while budgetary policy remains within the competencies of the Member States and is only framed by provisions on light coordination of national policies; recalls that the Stability and Growth Pact is a necessary set of rules allowing Member States to share a single currency but is not, per se, a European economic policy;
Amendment 162 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Notes that during the creation of the euro, the choice was made not to have an economic government for the euro but a clear set of rules; notes that the rules have been systematically infringed; notes that, in the current institutional and political set-up, deprived of the necessary legitimacy, sanctions have never been and cannot be applied; deplores that, as a result, we neither have respect for the rules, nor the economic government to enforce them;
Amendment 174 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses that the introduction of the euro as a common currency has eliminated tried and tested policy options for counterbalancing asymmetric shocks such as exchange rate fluctuation; reiterates that the relinquishing of autonomy over monetary policy therefore requires alternative adjustment mechanisms to cope with asymmetric macroeconomic shocks in order to make the euro zone an optimal currency area able, inter alia, to implement a proper policy mix;
Amendment 176 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Notes that the creation of the Euro led to the establishment of a European Central Bank of federal essence; deplores that Member States did not draw the political and institutional consequences of the creation of a single currency by creating a democratic economic, budgetary and fiscal government for the Eurozone; is convinced that without a genuine Economic government the euro area will always be deprived of the necessary tools to implement a proper policy mix;
Amendment 210 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Points out that the crisis has proved that a common monetary policy without a common fiscal policy cannot address asymmetricmajor shocks to the euro area; reiterates that the mere coordination of national fiscal policies without credible enforcement mechanisms has not prevented an investment gap, has proved insufficient to trigger growth-enhancing, sustainable and socially balanced structural reforms and has not enhanced the national capacity to absorb economic shocks;
Amendment 298 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Takes the view that incentives for sound fiscal policymaking and for addressing structural weaknesses at national level, taking into account the aggregate euro area fiscal stance, are core elements for the functioning of the euro area; considers that a fiscal capacity should, moreover, address specific concerns forthat the role of a fiscal capacity should be to absorb shocks, support sound fiscal and macroeconomic policies at national level and provide the eEuro area in the case of absorbing shockszone with a fiscal backstop;
Amendment 316 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses that a fiscal capacity must be created on top of and next to existing EU funding instruments, within itsthe EU legal framework, in order to ensure consistent developmentsynergies and complementarity between euro and non-euro Member States; stresses that, in the long run, genuine own resources in the form of taxation will have to abound a budget of the Eurozone; Such specific budget could go hand-in-hand with a transfer of competences exercised today at national level that could be best dealt with at Eurozone level;
Amendment 330 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Points out that effective stabilisation of large euro area Member States or a group of closely economically intertwined countries requires sufficient resourcesadequate own resources, drawing lessons from one of the main failures of the EU budget coming from the expectation of a "fair return", calculated only in numerical terms; recalls the creation of the interinstitutional group on own resources (the Monti group), whose creation in itself reveals an awareness of this problem;
Amendment 332 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Points out that effective stabilisation of large euro area Member States or a group of closely economically intertwined countries requires sufficient resourcein order to access the fiscal capacity, Eurozone members will have to qualify for it and converge the way they did in the run-up to the euro; Notes that the creation of the fiscal capacity must go hand-in-hand with the democratisation and strengthening of the governance structure of the Eurozone as well as the harmonisation of national public accounts;
Amendment 371 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Argues in consequence that three pillars of a fiscal capacity should be distinguished, wherein action should be undertaken in the framework of a common toolbox to address the different functions, i.e. incentivising convergence and sustainable structural reforms, absorbing asymmetric shocks, and absorbing symmetric shocks; takes note of the various proposals regarding designs put forward on this matter by politicians and academia;
Amendment 396 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Demands that the ESM be integrated into the Union’'s legal framework and evolve towards a Community mechanism, as provided for in the ESM Treaty and as constantly requested by the European Parliament and foreseen in the Five Presidents’' report; underlines that the ECJ Pringle case-law and jurisprudence open up the possibility of bringing the ESM within the Union’'s framework, within the existing Treaties, on the basis of Article 352 TFEU; calls, therefore, on the Commission to bring forward as a matter of urgency a legislative proposal to that end; demands that the ESM be made fully accountable to the European Parliament;
Amendment 410 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Calls for the ESM, whilst fulfilling its ongoing tasks, to be further developed and turned into a European Monetary Fund (EMF) with adequate lending and borrowing capacities and a clearly defined mandate, including its contribution to a euro area fiscal capacity; stresses that an EMF should be managed by the Commission and held democraticallyto be further developed and consolidated into a fully- fledged European Monetary Fund (EMF) for countries in difficulties within the Euro area; stresses that, just like the ESM, an EMF should be held accountable by the European Parliament; emphasises that national parliaments would be involved in the process, given that their constitutional prerogatives regarding financial resources could be affected;
Amendment 429 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Insists that once it is integrated into Community law, thea fiscal capacity for the euro area should be integcoexist but be kept separated intofrom the EU budget, but over and above the ceilings of the Multiannual Financial Framework (MFF); underlines however that in no circumstances should the volume of the EU budget fall victim to the creation of budgetary capacity for the Eurozone;
Amendment 448 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Considers that the EFSM and the existing balance of payment facility should be integrated into the same budgetary chapter as the ESM once the latter is integrated into Community law, therebyremain to providinge resources for financial assistance to countries outside the euro area but committed to joining on the basis of the agreed rules;;
Amendment 453 #
Motion for a resolution
Paragraph 23
Paragraph 23
Amendment 470 #
Motion for a resolution
Subheading 4
Subheading 4
Pillar 1: A convergence code to promote convergence and incentivise the implementation ofsupport structural reforms
Amendment 501 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Reiterates its call for the adoption of a ‘convergence code’, as a legal act resulting from the ordinary legislative procedure, to streamline the existing coordination of economic policies into a more effective convergence of economic policies within the European Semester;
Amendment 504 #
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 575 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Considers that a financial instrument is needed to work as an incentive-based mechanism for convergence and sustainable structural reforms with clear conditionality; believes that the Structural Reform Support Programme (SRSP), which is designed toreforms have a cost and that the fiscal capacity for the Eurozone should provide technicfinancial support to national authorities for measures aimed at reforming institutions, governance, administration, and economic and social sectors with a view to enhancing growth and jobs, can be further developed as a contribution to this function of the fiscal capacityfor structural reforms in line with the mutually agreed Convergence code;
Amendment 618 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Notes that the two models for the shock absorption function are featured most prominently in the academic literature: a Rainy Day Fund and a European Unemployment Benefit Scheme;
Amendment 634 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Points out that thea Rainy Day Fund should be funded by all thEurozone Member States on the basis of a cyclically sensitive economic indicator and used for payments to all Member States suffering from economic downturns; suggests that such fund should be managed by the EMF;
Amendment 648 #
Motion for a resolution
Paragraph 31
Paragraph 31
31. Acknowledges that the model of a European Unemployment Benefit Scheme would foster convergence of labour markets in the medium term; Notes that this option would require a Eurozone Treasury based on genuine own resources and the relevant transfer of competence to the Eurozone level;
Amendment 659 #
Motion for a resolution
Paragraph 32
Paragraph 32
Amendment 691 #
Motion for a resolution
Paragraph 33
Paragraph 33
33. Warns that future symmetric shocks could destabilise the euro area as a whole since the currency area is not endowed with the instruments to cope with another crisis of the extent of the previous one; is convinced that the right instrument to deal with symmetric shocks depends on the nature of the shock; recalls that the EMF shcould be used as an appropriate financial resource borrowing capacity;
Amendment 736 #
Motion for a resolution
Paragraph 37
Paragraph 37
Amendment 757 #
Motion for a resolution
Paragraph 38
Paragraph 38
38. Stresses that the Communitya new federal method should prevail in the development of economic governance for the euro area; urges that no reinforcement of intergovernmental structures should take place in parallel with existing structures;
Amendment 763 #
Motion for a resolution
Paragraph 39
Paragraph 39
39. Calls urgently for the European Parliament and national parliaments to be given a strengthened role in the renewed economic governance framework in order to reinforce democratic accountability; calls for increased national ownership in the European Semester in order to improve compliance with the CSRa greater involvement of the national parliaments as long as national contributions are the basis of the fiscal capacity; notes that this participation will have to be phased out once genuine own resources in the form of taxation will be agreed on at Eurozone level; stresses, however, that a continued dialogue will have to take place between the European Parliament and the national parliaments;
Amendment 775 #
Motion for a resolution
Paragraph 40
Paragraph 40
40. Argues that national ownership could be improved by including national parliaments in the procedures, notably by formalising the inter-parliamentary conference foreseen by Article 13 of the Fiscal compact, following the integration of the latter within the EU legal framework; insists, however, that the competences of the EP and the national parliaments conferred upon these institutions by the Treaties should be respected and that mixing of these competences be avoided;
Amendment 797 #
Motion for a resolution
Paragraph 41
Paragraph 41
41. Considers that in order to provide for a genuine EMU, a euro area treasury should be created for collective decision- making, supervision and management of the budgetary capacity for the euro areain order to give the Euro area the capacity to borrow, spend and raise taxes; calls for the inclusion of this treasury within the European Commission with full macroeconomic, fiscal and financial competences; calls for a vice- president of the European Commission to head the treasury and simultaneously to act as president of the Eurogroup; urges full accountability of this treasury to the European Parliament;
Amendment 798 #
Motion for a resolution
Paragraph 41 a (new)
Paragraph 41 a (new)
41a. Is convinced that the macroeconomic governance of the euro area should evolve towards a system of surveillance centred on a limited number of fiscal indicators with clear and simple rules; considers that a strong enforcement of these rules coupled with an ambitious fiscal capacity should allow for less intrusion from the European level into policy-making at national level; stresses that such an application of the subsidiarity principle would allow for a more credible and more democratic governance of the euro area, which would foster ownership by citizens;
Amendment 801 #
Motion for a resolution
Paragraph 41 b (new)
Paragraph 41 b (new)
41b. Notes that the European Parliament should review its internal organisation so as to allow an expression of these MEPs elected in the euro area;
Amendment 824 #
Motion for a resolution
Paragraph 43
Paragraph 43
43. Acknowledges thatReckons that given the current political climate characterised by deep inequality, mistrust and uncertainty is not conducive to properthe only way to reforms to achieve and complete EMU; believes, therefore, that a comprehensive roadmap, including clear milestones within an agreed timetable and taking into account the political situation, should be urgently adopted with a clear commitment by euro area Heads of State and Government to achieving a genuine and complete EMhe Eurozone is to discuss its future in an open and democratic way; notes that the only way to show citizens and economic actors we are serious about the future of the euro is to modify the European Union treaties; Therefore calls for the opening of a Convention in accordance with the article 48 TEU;