Activities of Piernicola PEDICINI related to 2019/2129(INI)
Plenary speeches (1)
European Central Bank - annual report 2018 (debate)
Amendments (8)
Amendment 60 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Notes that the ECB has failed to get its own objective of price stability from the start of the economic crisis, deplores that the objectives enshrined in its treaty is to pursue price stability instead to promote full employment;
Amendment 70 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Stresses that there is an urgent need to boost public investments at Member State level, in particular in those countries with less fiscal space; recalls, in this regard, that public investments, especially in research and development, education, social security and health, while stimulating the aggregate demand in the short term, also generate higher returns on output in the long term, thereby leading to a reduction of the public debt-to-GDP ratio as the denominator increases;
Amendment 80 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Considers that monetary policy is not sufficient to sustain economic recovery, nor can it contribute to solving the structural problems of the Eurozone's construction and the European economy as a whole, unless it is complemented by demand-side expansionary fiscal policies at Member State level to support aggregate demand and achieve a sustainable and inclusive economic growth, as well as radical reforms aimed at addressing the asymmetries that were at the root of the Eurozone crisis;
Amendment 85 #
3b. Stresses that it is necessary to revise the institutional architecture of EMU by removing the existing budgetary constraints to public investments under the SGP and through the set-up of genuine risk-sharing arrangements to make the euro area more resilient to macroeconomic shocks;
Amendment 129 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Stresses that persistently high current account surpluses in the core Eurozone countries are detrimental to the economic recovery of the countries in the periphery and to the European economy as a whole, and are therefore preventing rebalancing among countries; stresses the need that such macroeconomic imbalances are properly addressed and excessive surpluses corrected with appropriate fiscal and economic policies; calls, therefore, on the Commission to take prompt and decisive action in this regard under the MIP procedure;
Amendment 148 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
Amendment 243 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Considers it necessary to implement Bank Structural Reform as soon as possible, with a clear and compulsory separation between retail and investment activities to reduce interdependencies and risks in the banking sector and to increase its resilience; deplores the lack of interest shown by the European institutions in proceeding with such reform; considers it necessary, moreover, to draw up a serious set of rules concerning shadow banking;
Amendment 267 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Highlights with concern the risks to financial stability stemming from the high exposure of some banking systems in level 2 and level 3 financial assets, including derivatives; regrets that no action was taken by the ECB supervision to tackle the risks associated with these illiquid and complex instruments, since its inception; reiterates its appeal to include the exposure in level 2 and level 3 assets among the ECB supervisory priorities for 2018;