23 Amendments of Fabio DE MASI related to 2017/2124(INI)
Amendment 50 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
F a. whereas, growth and unemployment rates remain geographically uneven in a significant way, causing dangerous fragility to the economy and the sound development;
Amendment 64 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Underlines the federal nature of the ECB, which rules out national vetoes, enabling it to act decisively in addressing the crisis; however, independence and transparency in the decision-making process should be significantly enforced.
Amendment 129 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Agrees with the ECB that in order to reach the inflation target, supportive fiscal policies and socially balanced productivity-enhancing reforms are required; points out that reforms should take into consideration also social indicators, social cohesion, protection of medium and low income families and raising inequalities as well as distributive taxation according to member-states particularities;
Amendment 153 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. BGiven the large current inefficiencies of the monetary policy transmission channels, believes that additional growth-oriented policy measures should be considered in order to move closer and more rapidly towards the inflation objective, including a restructuring and an increase in monthly purchases, the inclusion of equity purchases in the APP and the extension of the TLTRO programme to households through zero-coupon perpetual loans;
Amendment 176 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Asks the ECB to consider complementing its price stabiConsiders that the repeated failure of the ECB to reach its inflation target, calls for considering the adoption of a nominal GDP target as a new monetary politcy objective with nominal GDP growth targfor the ECB; therefore calls upon the Council to put this topic into the agenda of its future Council meetings;
Amendment 199 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. HighlightsNotes with regret that according to the IMF’s April 2017 World Economic Outlook, the Eurozone output gap was -1.2 % of the potential GDP in 2016, a gap which will remain negative until 2019;
Amendment 206 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Underlines the positivelimited effect of the ECB monetary policy on growth, employment and the financing costs of Member States, non-financial companies and households; calls for additional and alternative measures to enhance inclusive growth, policies that focus on job-creating development, quality employment fight poverty and youth unemployment and enforce SMEs participation and development, preventing and managing better in that way future crises;
Amendment 244 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Considers that monetary policy alone is not sufficient to achieve a sustainable and more even and inclusive economic recovery, and that public and private investments should therefore be encouraged in the context of a moderately positive fiscal stance in the Eurozone as proposed by the Commission to fill the regional investment gap; thereby calls for a recomposition of the ECB's portfolio of securities held under the APP towards more bonds linked with sustainable investments, for example in the context of a mutually noncoercive coordination between the ECB and the European Investment Bank (EIB);
Amendment 255 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Points out that while unemployment has decreased, aggregate demand in the euro area remains subdued, largely as a result of the rise in poor quality, temporary, low-paid jobs; calls on the ECB to evaluate how this phenomenon is slowing the recovery and explore ways to stimulate demand, in spite of wage stagnationcrease wages and promote quality employment, equal access to education and training to new technologies;
Amendment 264 #
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15 a. calls the ECB to explore the economic and legal feasibility of policy options, beyond interest rate policy and bond purchases, to channel money or credit efficiently into the real economy and hence induce investment demand and ensuring proper transmission of monetary policy;
Amendment 282 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Stresses that excessive current account surpluses in some Member States must be corrected through appropriate fiscal policies, including the European Commission recommendations for more public investments and incease of demand, in order to tackle macroeconomic imbalances in Europe;
Amendment 307 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Encourages further improvement of SMEs' access to credit, enforcing inclusiveness in economic development;
Amendment 338 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Acknowledges that the current policy of low interest rates has a positive effect on the level of nonperforming loans (NPLs); calls for a European strategy involving a secondary market for NPLs in order to alleviate the burden of NPLs in some Member States, taking into account social implications and protecting the first residence and medium and low income families;
Amendment 376 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Welcomes the improvements made by the ECB in disclosing the list of securities held by the Eurosystem under the ECB’s CSPP; but remains concerned that this programe mainly benefits large multinationals; thereby reinforcing capital misallocation towards shareholders and the over-concentration of some oligopolistic sectors;
Amendment 396 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Encourages the ECB to take steps to align its CSPP purchases with the EU’s commitment to tackling climate change, since ECB as an EU organization is committed to the goals of the Paris Agreement;
Amendment 402 #
Motion for a resolution
Paragraph 27
Paragraph 27
Amendment 471 #
Motion for a resolution
Paragraph 33
Paragraph 33
33. Urges the ECB to support Greece, for example through ensuring the eligibility of Greek companies for the CSPP and the timely inclusion of Greek sovereign bonds in the APP, ensuring the timely access to QE and provide an independent debt sustainability analysis, as well as to support investments for countries to risk;
Amendment 525 #
Motion for a resolution
Paragraph 36 b (new)
Paragraph 36 b (new)
36 b. Calls the ECON Committee to further enhance the monetary dialogue by revising the relevant rules, in the direction of the monetary experts’, commissioned by ECON in March 2014, recommendations and feedback;
Amendment 526 #
Motion for a resolution
Paragraph 36 c (new)
Paragraph 36 c (new)
36 c. Calls the ECB Governing Council to follow EU staff regulation and code of conduct regarding to a two-year professional abstention period after the conclusion of its members’ mandate and to file public declarations of interests and assets;
Amendment 528 #
Motion for a resolution
Paragraph 36 d (new)
Paragraph 36 d (new)
36 d. Calls the ECB to enhance whistle- blowers protection, as clearly indicated in relevant reports by the Commission, the Parliament, the European Ombudsman and the UN Convention against corruption;
Amendment 529 #
Motion for a resolution
Paragraph 36 e (new)
Paragraph 36 e (new)
36 e. Notes that the current ECB employment system regarding temporary agents, which is placed within a system or repetitive temporary contracts, is reportedly creating instability in the working environment and undermining professional cohesion within the ECB;
Amendment 544 #
Motion for a resolution
Paragraph 38
Paragraph 38
38. Asks the ECB to make it a rule to publish its decisions, recommendations and opinions, thereby drastically reducing the number of exemptions from disclosure as well as to follow closer international best practises in improving the disclosure of bank supervisory data;
Amendment 556 #
Motion for a resolution
Paragraph 38 b (new)
Paragraph 38 b (new)
38 b. Stresses that the Members of the Executive Board of the ECB, should abstain from being simultaneous members of forums or other organisations which include executives from banks supervised by the ECB;