Activities of Jean ARTHUIS related to 2017/0333R(APP)
Plenary speeches (1)
Establishment of the European Monetary Fund (debate) FR
Shadow reports (1)
INTERIM REPORT on the proposal for a Council Regulation on the establishment of the European Monetary Fund PDF (182 KB) DOC (73 KB)
Amendments (7)
Amendment 38 #
Motion for a resolution
Recital B
Recital B
B. whereas the financial and economic crisis has revealed the weaknesses of the euro architecture, highlighting the need whereas its consequences have not led to measures commensurate with the urgent need to reform the swift completion of the EMUgovernance of the EMU and whereas the crisis has thus highlighted the need to complete it swiftly;
Amendment 50 #
Motion for a resolution
Recital C
Recital C
C. whereas membership of a common currency area requires common rules and obligations, as well as common tools to respond to symmetric and asymmetric shocks and for the promotion of solidarity and socioeconomic upward convergence; whereas the creation of a euro area budget is therefore necessary in order to ensure its sustainability and to neutralise any possible shocks; whereas risk reduction and risk sharing should go hand in hand in deepening the EMU;
Amendment 57 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas the appointment of a full- time, independent European Finance Minister, who should not be permitted to perform a similar role in a Member State of the euro area, in order to avoid any conflict of interests, is an absolute necessity;
Amendment 102 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Suggests that the ESM be renamed not the European Monetary Fund (EMF) but the European Stability Fund (ESF)retain its current name, which is recognised on the capital market, making it clear that the eurozone’s monetary policy remains the competence of the ECB;
Amendment 155 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Underlines that the primary mission of the new ESFM should continue to be to provide transitional financial assistance to Member States in need, on the basis of the agreed adjustment programmes; stresses that the ESFM must have adequate firepower for that purpose; opposes, therefore, any attempt to turn the reformed ESM into an instrument for banks only, or to reduce its financial capacity to support Member States; recalls that financial assistance provided to Member States under the new ESFM has to be complemented by other fiscal capacity tools, including precautionary instruments, to promote economic and financial stabilisation, investment and upward socioeconomic convergence in the euro area;
Amendment 180 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses that evaluation of the financial assistance requests made by the ESFM, as well as its decision-making on the design of the adjustment programmes, in cooperation with other institutions, should in no way replace, duplicate or overlap the normal macroeconomic and fiscal surveillance provided for in the EU’s financial rules and regulations, which must remain the Commission’s exclusive competence;
Amendment 203 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls for a swift ESM reform that also redefines its role, functions and financial tools, so that the new ESFM can offer liquidity support in case of resolution and serve as a financial backstop for the SRF; calls for the SRF to be made operational as soon as possible and, in any case, before 2024;