14 Amendments of Renato SORU related to 2014/2145(INI)
Amendment 80 #
Motion for a resolution
Recital B
Recital B
B. whereas huge differences will continue to prevail between the Member States, also following the Troika’s intervention, with forecasted GDP growth rates in 2014 ranging between -2.8 % in Cyprus and +4.6 % in Ireland reflecting increasingly undermining growing internal divergences;
Amendment 102 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. Whereas, youth unemployment in many Member States remains at a very high level, posing threats for both the economic recovery in the short term and for the prospects of a sustained growth in the long term;
Amendment 103 #
Motion for a resolution
Recital B b (new)
Recital B b (new)
Bb. Whereas, low levels of inflation in conjunction with the high average Debt in several Member States jeopardize sustainability of the Debt itself, harming efforts made towards a reduction of the debt;
Amendment 128 #
Motion for a resolution
Recital D
Recital D
D. whereas a European investment plan is being put in place to raise EUR 315 billion in new investments over the next three years; whereas, if the proposed financial objectives of the Plan are achieved, it would only make up for a fraction of the accumulated investment gap;
Amendment 200 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Highlights the fact that the current economic governance framework does not allow for a proper debate on the economic perspective of the euro area or on an aggregate fiscal stance and does not address the different economic and fiscal situations on an equal footing;
Amendment 208 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Notes that simultaneous fiscal consolidation unintendedly contributed to reduce total output and thus to the overall increase in debt level;
Amendment 229 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Notes that major policy initiatives which included policy recommendations were based on economic forecasts that had not anticipated the low growth and inflation experienced and have not fully taken into account the underestimation of the size of the fiscal multiplier, the importance of spillover effects across countries in a period of synchronised consolidation and the deflationary impact of cumulative structural reforms;
Amendment 237 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Notes that the methodology adopted for the calculation of Output Gap, fundamental in assessing Countries and formulating Country Specific Recommendations, differs significantly from methodologies used by other international Institutions, such as the IMF and OECD;
Amendment 254 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses that the current situation calls for closer and inclusive economic coordination (to increase aggregate demand, favour convergence between Member States, improve fiscal sustainability and allow for fair and sustainable structural reforms and related investments) and for swift reactions so as to correct the most obvious fault lines in the economic governance framework;
Amendment 328 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the fact that in its interpretative communication on flexibility, the Commission acknowledges that the way in which the current fiscal rules are interpreted is crucial in bridging the investment gap in the EU and implementing growth-enhancing structural reforms;
Amendment 340 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Underlines the importance of taking into account the overall economic situation in the Union in interpreting fiscal rules, as clarified by the EC communication on flexibility;
Amendment 491 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Asks the Commission to verify whether the current 1/20 rule on debt reduction is sustainable and whether it needs to be reconsidered;
Amendment 503 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Invites the Commission analyse and discuss the economic results of a possible mutualisation of the sovereign debts, with particular reference to the overall sustainability of the debt itself;
Amendment 705 #
Motion for a resolution
Paragraph 34
Paragraph 34
34. Recalls that a ‘genuine Economic and Monetary Union’ (EMU) cannot simply be limited to a system of rules but also requires an increased euro area fiscal capacity; Welcomes the work of the Group EU own resources, chaired by Mario Monti, invites the Commission, in the effort of strengthening the EMU, to explore possible mechanism to create fiscal capacity at EU level;