9 Amendments of Fabio DE MASI related to 2014/2157(INI)
Amendment 9 #
Motion for a resolution
Recital B
Recital B
B. whereas, according to the same forecast, unemployment in the euro area rose from 11.3 % at the end of 2012 to 12 % at the end of 2013, and may fall slightly to 11.8 %remains at a high level in 2014;
Amendment 26 #
Motion for a resolution
Recital E
Recital E
E. whereas, according to the Commission services’ spring 2014 forecast, the average inflation rate in the euro area was 1.3 % in 2013, down from 2.5 % in 2012; whereas inflation in the euro area has continued to be on a downward path since the beginning of 2014, reaching a low of 0.3 % in September, posing a risk of deflation;
Amendment 31 #
Motion for a resolution
Recital F
Recital F
F. whereas the level of public and private investment in the euro area has been stagnating at levels significantly below those registered before the start of the crisis and needs to be given a fresh boost as a matter of urgency;
Amendment 35 #
Motion for a resolution
Recital H
Recital H
H. whereas credit to the private sector has moved further into negative territory, with an annual rate of change of -2.4% in December 2013, compared with -0.2% in December 2012, demonstrating the failure of the central bank’s policy, in particular its unconventional operations; whereas the lack of credit affecting SMEs in some Member States is one of the main problems delaying the economic recovery;
Amendment 113 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Notes with concern that the ECB has announced that it will purchase asset- backed securities (ABS) and covered bonds in order to empower the credit-easing impact of the TLTROs; stresses that such, in practice, interventions on ABS market must be conducted in a transparent manner that does not create excessive risks for the ECB’s balance sheetrepresent a potential vehicle for purchasing toxic assets held by the financial sector;
Amendment 131 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses that the impact of the unconventional monetary policyfailure of what are known as unconventional measures, currently in use on the real economy should not be overombined with the austerity policiest imated; stresses that such measures are transitory in nature and that their main advantage is that they can give Member States time to consolidposed on the Member States, is still standing in the way of genuine policies to combate their fiscal situation and implement structural reforms that will create conditions for crisis and reinvigorate economic activity to rebound;
Amendment 142 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Recalls that monetary policy alone cannot stimulate aggregate demand unless it is complemented by adequate fiscal and structural national reforms and policieStresses that a single monetary policy aimed at guaranteeing price stability, without any objectives in terms of economic growth, job creation and higher wages, is not capable of tackling the highly diverse economic situations in the Member States and is, on the contrary, one of the causes of the current crisis;
Amendment 155 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Recalls that the independence of the ECB in the conduct of its monetary policy, as enshrined in the Treaties, is crucial to the objective of safeguarding price stabilitypreventing the adoption of genuine measures to exit the crisis;
Amendment 162 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Maintains that the Statute, guidelines and sham independence of the ECB need to be changed, allowing all Member States to be represented on an equal footing in its governing body, so as to ensure that every Member State can control its national central bank and monetary policy, with a view to promoting economic growth and employment;