3 Amendments of Marco ZANNI related to 2016/2302(INI)
Amendment 1 #
Draft opinion
Paragraph 1
Paragraph 1
1. Emphasises that the ultimate purpose of financial instruments (FIs) is to act in situations of market failure or suboptimal investment as a catalyst making it possible to mobilise funding for projects which cannot secure adequate support from the market; insists that the funding channelled through the EU- supported FIs should play a social role and not be limited to satisfying private interests onlyDeplores the uncontrolled proliferation of financial instruments (FIs) which, placed outside the EU budget, evade all forms of democratic scrutiny and lack the necessary transparency, in terms of both reporting and performance; stresses that by preventing the necessary competitiveness adjustments to asymmetric shocks, the euro is the primary cause of the social and economic divergences between Member States; points out that the adoption of socially responsible policies is, first and foremost, up to the Member States, which must be able to invest in the growth of their own economies, in support for their SMEs and in job creation;
Amendment 14 #
Draft opinion
Paragraph 2
Paragraph 2
2. Notes that, according to estimations, allocations in FIs from the European Regional Development Fund (ERDF), the Cohesion Fund (CF) and the European Social Fund (ESF) would almost double between 2007-2013, when they amounted to EUR 11.7 billion, and 2014- 2020, when they would amount to EUR 20.9 billion; notes that the FIs would thereforeis concerned about the increasing use of FIs which already represent 6 % of the overall cohesion policy allocation in 2014-2020, compared with 3.4 % in 2007-2013;
Amendment 33 #
Draft opinion
Paragraph 5
Paragraph 5
5. Points to the challenges that FIs represent for democratic control, timely and transparent reportingHighlights the vulnerabilities which characterise FIs in terms of both democratic control and reporting, transparency and accountability; believes that the revision of the Financial Regulation and the ‘omnibus regulation’ cshould provide an opportunity to streamlnecessarily be geared to restorineg the reporting on FIs and thus provide a better basis to assess additionality and complementarity between different forms of EU support, particularly between cohesion funds and the European Fund for Strategic Investments (EFSI)central role of national parliaments, by establishing more stringent and effective control and assessment parameters for the evaluation of European public spending.