26 Amendments of Marco ZANNI related to 2017/2114(INI)
Amendment 11 #
Motion for a resolution
Recital A
Recital A
A. whereas the GDP growth rate for the euro area was 1.8 % in 2016 and 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 insufficients of EU Member States outside the euro area have been significantly more rapid than those of Member States that have adopted the euro;
Amendment 20 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas in order to succeed, expansionary monetary policies must be accompanied by expansionary fiscal and budgetary policies;
Amendment 23 #
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 2008clearly underlining the difficulties faced by those countries which adopt the single currency; whereas significant differences in unemployment rates remain across the EU ranging between 3.2 % and 23.2 %;
Amendment 33 #
Motion for a resolution
Recital C
Recital C
C. whereas the EU’s excessively low productivity and global competitiveness calls for structural reforms, continued fiscal efforts and investment in Member States in order to bring about sustained growth and employment and achieve upward convergence with other global economies and within the EUconomic and Monetary Union (EMU) established under the Maastricht Treaty has blocked the development and growth of the Member States and is responsible for the economic recession, low inflation rates and structurally high unemployment rates currently facing them and the rise in inequalities of income between population groups, including in those countries regarded as the most virtuous;
Amendment 60 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the good performanceof theEuropean economy, supported by moderate GDP growth and decreasing, yet still high, unemployment rateObserves that, unlike other areasof theindustrialised world, the euro area has not restored the income levels that existed before the crisis; notes that the modest recovery remains fragile and that the development of GDP per capita is close to stagnation;
Amendment 77 #
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’ economiedue to the EMU project, which, not being an optimal monetary area, has given rise to unsustainable macroeconomic imbalances in recent years; emphasises that the implementation of structural reforms in the Member States could facilitate at least 1 % higher growthhas further aggravated the already difficult economic and social situation;
Amendment 90 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Takes the view that a greater degree of upward convergence would bthe EU and the euro have not delivered what they promised in terms of stability, growth and convergence; stresses therefore the needed to sustain the economic recovery in the EU and the euro area in the longer termallow Member States complete freedom to abandon the single currency, introducing swift and efficient procedures to allow such decisions to be taken in an orderly manner;
Amendment 97 #
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 viewa fixed exchange rate system such as that of 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 of Member Stateseuro area diverts the burden of adjustment onto the labour market in the Member States, which are compelled to resort to internal devaluation in order to restore competitiveness, depressing long-term growth potential;
Amendment 107 #
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 rulesStresses the need to oppose the current economic governance of the euro area in order to enable Member States to implement the necessary economic, monetary and fiscal policies to promote growth and full employment;
Amendment 125 #
Motion for a resolution
Paragraph 6
Paragraph 6
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)s caused by the structure of EMU and by the austerity policies adopted since 2009;
Amendment 140 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Is of the opinion that legacies from the crisis such as aConsiders that the high level of private indebtedness in all sectors of the economy still act as a drag on growth and pose potential risks; is concerned in this regard, particularly external, which has also been shown in the scientific literature to be responsible for the crisis in the euro area, presents potential risks and must be monitored more effectively; observes that the persistently high level of non- performing loans in some Member States could have signifis caused by the economic ant spill-over effects from one Member State to anod fiscal policies dictated by the EU, which serve to destroy domestic demand and consequently ther, presenting a risk to financial stability in Europeoductive and industrial fabric;
Amendment 157 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Takes the view that reforms to improve the busConsiders, in view of the reluctance of private operators to invess climate are needed to boost productivity and employment in the euro area; underlines in this context the importance of supply-side reformst in a depressed economic environment, that only a major public investment plan can revive growth in the EU;
Amendment 178 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. ShareRejects the Commission’'s view onrecommendations regarding the need for changes in labour market legislation that provide flexibility and security for both employees and employers, thereby increasing employment and ensuring sustainable growtho render employment more precarious and reduce workers' pay and rights;
Amendment 209 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Stresses that one of the factors underlying the lack of competitiveness and investment in 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, investments and labour;
Amendment 225 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Agrees that the economic upswing needs to be guided and supported by public investment and notes that there is still an investment gap in the euro area; recognises, however, that in some Member States investments already exceed the pre-crisis because of the budgetary constraints imposed at European level;
Amendment 241 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Considers that reforms removing investment bottlenecksincreased public investment at national level would allow for immediate support for economic activity and at the same time set the conditions for long-term growth;
Amendment 253 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Takes the view that a timely agreement in the ongoing negotiations on the revisedthe European Fund for Strategic Investments (EFSI) could help to improve the effhas failed in its objectiveness of this instrument and to address shortcomings experienced in its implementation so fareviving investment, growth and employment; considers therefore that there is no point in extending it further;
Amendment 273 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Considers that prudent fiscal policies play a fundamental role for the stability of the euro area and the Union as a whole; 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)responsibility for fiscal policy must be returned entirely to Member States in order to make it possible to implement the necessary measures to promote growth and employment;
Amendment 284 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. WelcomDeplores 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 Statesexcessive attention devoted to public deficits, which has effectively helped to depress investment and block growth and the recovery of the European economy;
Amendment 303 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Warns that low interest rate payments, accommodative monetary policies, one-off measures and other factors alleviating the current debt burden are only temporary and that sound fiscal policies must be self-sustaining and take into account future liabilitiesConsiders that the only way of easing the debt burden is by means of growth, and that every Member State should therefore have the option of establishing its own monetary policy via its respective national central bank, on the basis of the needs of its own economy;
Amendment 315 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Underlines that the fiscal stances at national and euro-area level must balance the long-term sustainability of public finances in full compliance with the Stability and Growth Pact wiEU's economic governance rules have aggravated the situation with regard to public finances, depressing growth and jeopardising the short-term macroeconomic stabilisationustainability of debt;
Amendment 329 #
Motion for a resolution
Paragraph 19
Paragraph 19
Amendment 357 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Recognises that Member States have made progress in the area of fiscal policy and active labour market policies, while least progress was made in areas such as competition in services and the business environment; expects a greater commitment on the part of Member States to take the necessarypolicyactions based on the CSRsjects the country-specific recommendations of the Commission, which have failed and proven inadequate in the fields both of fiscalpolicyand labour market policy;
Amendment 366 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Takes note of 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 deficitStresses the need for Member States to implement their own economic policies at national level without any limitations imposed by the European Institutions, with full respect for the principles of democracy and sovereignty;
Amendment 379 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Highlights thate need for fair treatment under the mMacroeconomic iImbalance pProcedure is aimed at preventing, which should entail assessing the serious imbalances withincaused by Member States with a view to avoiding negative spill-over effects to other Member Statexcessive surpluses;
Amendment 387 #
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 tothe entire architecture of European Economic and Monetary Union to be a failure, as are all the structural reforms ensuringand the reconomic sustainability of each individual Member State, thereby ensurmmendations imposed on Member States; calls therefore for all the measures applied ing the overall competitiveness and resilience of the European economis field under the Maastricht Treaty to be reviewed without further delay in order to permit European countries to revert to the path towards the requisite economic recovery;