Activities of Fabio Massimo CASTALDO related to 2023/2064(INI)
Plenary speeches (1)
European Central Bank – annual report 2023 (debate)
Amendments (10)
Amendment 45 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the role of the ECB in safeguarding euro stability; uUnderlines 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;
Amendment 58 #
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, thereby guaranteeing economic growth and public well-being;
Amendment 65 #
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 legitimacy, along with the aim of supporting the general economic policies of the EU;
Amendment 81 #
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, given that the banking union and capital markets union are not yet complete, and with the absence of any central fiscal capacity or an agreement on the new budget rules; notes that the situation is worse in the euro area than 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 regard;
Amendment 115 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Appreciates the ECB’s backing for the new rules on economic governance, which promote the counter-cyclicality of fiscal policies, and the invitation to conclude the negotiations by the end of the year;
Amendment 119 #
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 effectpoints out also that the effects of the latest interest rate rises are still to be felt, especially by families and businesses;
Amendment 122 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that headline inflation has come down from 8.4 % in 2022 to 5.42 % 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;
Amendment 132 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Points out that inflation already began rising above target levels in 2021, thus before Russia’s unprovoked aggression in Ukraine; deplores, however, that the ECB only started to tackle inflation in June 2022, even though the COVID-19 crisis proved that it is able to act in a timely manner; notes that other central banks acted more promptly; maintains that a swifter response would have had an earlier impact on price dynamics, thereby averting peaks of 10.6% as in October 2022;
Amendment 144 #
Motion for a resolution
Paragraph 14
Paragraph 14
Amendment 167 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. SuppDeplortes the ECB’s decision to scale back its asset-purchasing programmes, in view of the excess liquidity in the market; notes the ECB’s announcement to decarbonise its corporate bond holdings by ‘tilting’ its portfolio; stresses the importance of the quality of the collateral;