71 Amendments of Ernest URTASUN related to 2014/2145(INI)
Amendment 59 #
Motion for a resolution
Recital A
Recital A
A. whereas, according to the Commission’'s autumn forecast, after two consecutive years of unanticipated negative growth, gross domestic product (GDP) in the euro area is expected to rise by 0.8 % in 2014 and by 1.1 % in 2015, meaning that the pre-crisis growth rateGDP level will not be regained this year and the output gap will remain large; whereas most recent forecasts foresee a meaningful risk of very low inflation for an extended period of time;
Amendment 89 #
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 interventionimplementation of the programmes, 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 111 #
Motion for a resolution
Recital C
Recital C
C. whereas, according to the Commission’'s autumn forecast, investment in the euro area decreased by 3.4 % in 2012, by 2.4 % in 2013 and by 17 % since the pre-crisis period, withhereas the expected rebound rate in 2014 (0.6 %) and that anticipatein investment expenditure for 2014 and for 2015 (1.7 %) beremaings very weak; whereas a lack of investment can be just ais detrimental to future generations as excessive public debtnd worsens the prospects regarding public finances sustainability;
Amendment 122 #
Motion for a resolution
Recital D
Recital D
D. whereas a EUR 21 billion European investment plan is being put in place to raise EUR 315 billion in new investments over the next three years based on the questionable assumptions of a leverage effect of 15 and ability to attract private investments on high-risk projects;
Amendment 127 #
Motion for a resolution
Recital D
Recital D
D. whereas a European investment plan is being put in place to raiseaiming at financing EUR 315 billion in new investments over the next three years;
Amendment 129 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas, according to the Commission's winter forecast, unemployment rate in 2015 and 2016 across the EU is expected to remain at levels above 11%;
Amendment 182 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Is of the opinion that the EU is still trapped in an exceptionally long severe economic downturn initiated in 2008; points out that the output gap remains too wide leading to hysteresis and a permanent loss of capacities; believes, that urgent and additional and coordinated fiscal and monetary policies are required if the purpose is both to avoid a debt deflation trap and to create new capacities geared towards the ecological transformation of the EU economy;
Amendment 183 #
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Asks in that perspective for a far reaching Green European investment programme for Europe geared towards the social and environmental transformation of the EU economy;
Amendment 197 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Highlights the fact that the current economic governance framework does not allowprovide for a pproper debate onriate democratic accountability mechanism regarding the assessment of the economic perospective ofs within the euro area or on an aggregate fiscal stance and does not addressprovide for a sufficiently democratically accountable monitoring process for assessing the different economic and fiscal situations on an equal footing;
Amendment 214 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Deplores in particular the Eurogroup decisions taken behind closed doors without transparency and proper accountability; calls for the minutes of the Eurogroup meetings to be published; recalls the conclusion of its report on the troika activities deploring the absence of EU-level democratic legitimacy and accountability of the Eurogroup when it assumes EU-level executive powers;
Amendment 215 #
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Recalls the conclusion of its report on the troika activities deploring the blurred scope of the 'technical advising' and 'Eurogroup agency' roles devolved to both the Commission and the ECB in the framework of the design, implementation and assessment of assistance programmes; deplores, from that perspective, the lack of any clear and accountable case-by-case mandates from the Council and the Eurogroup to the Commission; as well as the potential conflict of interest within the Commission between its role in the Troika and its responsibility as guardian of the Treaties;
Amendment 227 #
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 thes a consequence of frontloaded austerity measures and largely underestimation ofed the size of the fiscal multiplier, in a context characterized by a severe financial turmoil as well as by the importance of spillover effects across countries in a period of synchronised consolidation andcombined with the deflationary impact of cumulative and fast- tracked structural reforms;
Amendment 239 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Highlights that the cuts in public spending had not expansionary effects as expected, and have resulted in an increase of public debt to gross domestic product ratio, reflecting the self-defeating and pro-cyclical effects of fiscal austerity in a context of economic stagnation;
Amendment 242 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Notes that the burden of the adjustments has been essentially borne by Member States with entered the crisis with high current account surpluses and high debt to GDP ratios creating and overall a deflationary bias;
Amendment 243 #
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Points out in particular that the frontloaded and unbalanced austerity measures and the budgetary cuts in basic welfare systems across Europe have not only had dramatic social consequences but have also damaged the European recovery and ultimately unnecessarily aggravated public debt to GDP levels in comparison with a necessary but more gradual and better designed long-term strategy for fiscal consolidation; underlines that some far reaching austerity measures are inconsistent with the the obligations referred to in the Treaty and the EU Charter for Fundamental Rights;
Amendment 255 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses that the current situation calls for closerenhanced and inclusive economic coordination (to increase aggregate demand, 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 257 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Is therefore of the opinion that a legislative revision of the economic governance legal framework is not only needed regarding the budgetary rules but also to provide a basis for a quality investment framework with a view to achieving a binding broader socio- economic convergence process towards the fulfilment of updated EU2020 objectives; disagrees therefore with the Commission assessment according to which the current economic governance framework has been successful and hence that no revision of such legal framework is currently required;
Amendment 273 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Warns that the accumulation of procedures makes the economic governance framework complex and not transparent enough, which is detrimental to the ownership and acceptance by parliaments, social partners and citizens of guidelines, recommendations and reforms stemming from this framework; underlines therefore the need for legal revision that would simplify the complex and often overlapping surveillance and reporting procedures while increasing democratic scrutiny and accountability of the EU Semester framework;
Amendment 293 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Acknowledges that some progress has been made with a debate on the Medium-Term Objective (MTO) and a betterin terms of ownership of the national debate in euro area Member States, also thanks to the contribution of the national fiscal councils;
Amendment 311 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Underlines allthat the existing flexibility provisions under the Stability and Growth Pact (SGP) which have been put in place to ensureare too discretionary and in practice have not provided for a sufficient and anti-cyclical policy; finds it regrettable that these provisions were not put to full use in previous years, in the context of low inflation, low growth and high unemploymentppropriate counter-cyclical framework; reminds that in god times several Member States did not consolidate counter- cyclically; finds it regrettable that the margin of discretion foreseen in the legislation was not put to full use in previous years, in the context of low inflation, low growth and high unemployment; underlines that as a consequence these discretionary flexibilities have become the rule instead of the exception as these end up being systematically and inefficiently used after the social and economic hardship has already been done;
Amendment 329 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the fact thatrecent acknowledgment from the Commission in its interpretative communication on flexibility, the Commission acknowledges that the way in which the current fiscal rules are interpreted is crucial ininstrumental for bridging the investment gap in the EU and facilitating the implementing growth-enhancing, structuralustainable and socially balanced reforms;
Amendment 347 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Supports all the incentives to finance the new European Fund for Strategic Investments (EFSI), mainly by making national contributions to the fund fiscally neutralthe fact that the National contributions to the European Fund for Strategic Investments will be considered as being fiscally neutral by the Commission as regards the SGP; calls for further clarification regarding the concrete treatment of these contributions in accordance with the new paradigminterpretation of the SGP rules set out in the communication;
Amendment 379 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Believes that the communication rightlyPoints out that Commission communication on the flexibilities aims at broadensing the scope of the investment clause, allowing for a certain degree of restricted flexibility in the preventive arm of the SGP to accommodate investment programmes by the Member States, in particular as regards expenditure on projects under structural and cohesion policy, including the Youth Employment Initiative, trans-European networks and the Connecting Europe Facility, and co-financing under the EFSI; believes that this approach must be urgently reassessed to be symmetrically applied to the corrective arm of the SGP;
Amendment 385 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Believes that the structural reform clausereform process under the preventive arm and the means of considering structural reform plans under the corrective arm constitute a step forward as regards ensuring the more efficient implementation of reforms by Member States; calls for further clarification as to the types of structural reforms eligiblcorrective arm should be democratically assessed by the European Parliament and the National Parliaments, in permanent dialogue with social partners; regrets that in a relevant number of Member States those reforms have in practice under this minewd scheme; believes that a direct link to the cost, timeframe impact and value of structural reforms should also be explicit in the corrective arm of the SGPocial and environmental rights, increased labour precariousness and worsened public pension entitlements ;
Amendment 391 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Calls for a result oriented methodological guidelines regarding the eligible reforms, including cost-benefit assessments, timeframe impact, and taking explicit account of externalities as well as social and environmental returns of these reforms; calls for monitoring mechanisms for assessing reform's contribution to updated EU2020 National targets; points out that such result oriented action should also provide guidance for the assessment of reforms in the framework of the preventive and corrective arm of the SGP;
Amendment 406 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Believes that structurgeneral economic reforms committed in National rReform Programmes should have a measurable positive socioeconomic and environmental return and contribute to increased administrative capacity;
Amendment 436 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Believes that more room for flexibility and soft laws exists under the SGP and in the European Semester; invites the Commission to build on this flexibility and to propose rule changes where neededadditional interpretative rules;
Amendment 443 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Believes that European fiscal rules should be defined within the existing communitarised economic governance framework; calls therefore for the replacement of existing intergovernmental agreements such as the Fiscal Compact which undermines the democratic control of the existing rules;
Amendment 444 #
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14b. Underlines however that a revision of the legal framework would be the most appropriate policy instrument for achieving a genuinely counter-cyclical approach, requiring more rapid consolidation during upsides and more room of manoeuver during periods of negative output gap and in particular in a situation where the economy is at the zero-lower bound;
Amendment 445 #
Motion for a resolution
Paragraph 14 c (new)
Paragraph 14 c (new)
14c. Points out that such revision could include inter alia a qualified treatment for investments by using capital budgeting methods such as the amortized cost method for accounting certain categories of high quality public investments generating large and measurable societal and environmental over periods during which unemployment and output is below its potential;
Amendment 446 #
Motion for a resolution
Paragraph 14 d (new)
Paragraph 14 d (new)
14d. Points out that such method would provide for a smart counter-cyclical approach by spreading the cost of capital expenditure oriented towards a more sustainable economy made during downturns over the life-cycle of the capital formation as it is a common practice in the framework of private sector accounting;
Amendment 456 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Invites the Commission and the Council to better articulate the fiscal and macroeconomic frameworks, notably in the corrective arm of the SGP, to allow for earlier debate among stakeholders, taking into account the need to increase convergence between euro area Member States and the role of national parliaments and social partners regarding the design and implementation of structuralustainable and socially balanced reforms;
Amendment 473 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Insists that the Annual Growth Survey (AGS) and euro area recommendation must be better designed and put to better use to allow for a global economic debate, notably as regards convergence in the euro area; proposes that the country-specific recommendations (CSRs) should be established on the basis of striking a better balance and more coordinated approach between the AGS and the macroeconomic imbalance procedure (MIP), and suggests that the procedure leading to the adoption of euro area recommendation should be made compulsory following a proper debate with the European Parliament, and National Parliaments with incentives being offered so as to encourage the implementation thereof; requests that the excessive deficit procedure (EDP) recommendation be joined together with the CSRs in a single document;
Amendment 479 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Favours an enhanced process regarding the elaboration, follow-up and monitoring of Country Specific Recommendations; believes that the Commission should identify explicitly recommendations aiming at fulfilling updated EU2020 National targets; reminds that the legislation enshrines the principle according to which Member States have to 'comply or explain' with these recommendations; calls in that perspective for Member States to explain how alternative policy measures can help achieving the National EU2020 targets in a measurable way if the recommendations are not followed;
Amendment 480 #
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16b. Emphasizes that the main shortcoming of the current economic governance framework in terms of input legitimacy is a lack of sufficient an genuine involvement of the European Parliament and National Parliaments in defining and monitoring fiscal and economic policy recommendations; advocates for the adoption of an interinstitutional agreement so as to provide for an enhanced role regarding the adoption of the main EU Semester related documents (Annual Growth Survey, Alert Mechanism Report, CSRs) as well as for an active and 'step-by-step' scrutiny role devolved to National Parliaments;
Amendment 493 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Asks the Commission to verify whether the current 1/20 rule on debt reduction is sustainableproceed to a thorough assessment of the 1/20 rule with a view of replacing it with a better framed and fine-tuned rule; calls in that perspective for a differentiation between debt incurred for supporting the financial sector in the context of the crisis and wthether it needs to be reconsidered rest of the debt stock; reminds that a significant part of that debt finds its origin in support measures provided by Member States to the banking sector since 2008; is of the opinion that such part of the debt to GDP stock should be reduced by dedicated measures putting the financial sector into contribution;
Amendment 499 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Asks the Commission to proceed to a thorough assessment of the Medium term Budgetary Objective as specified in the 'six pack' framework with a view of replacing it with a better framed and fine- tuned rule; underlines that a one fits all rule is not appropriate given that ultimately the debt to GDP ratio converges towards the average deficit to nominal GDP ratio;
Amendment 500 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17b. Calls for the revision of the debt sustainability concept on the basis of a fundamental rights oriented approach aiming at preventing that debt service obligations represent an obstacle or have priority over the provision of sufficient minimum resources for financing essential services and hence for fulfilling fundamental rights obligations,
Amendment 501 #
Motion for a resolution
Paragraph 17 c (new)
Paragraph 17 c (new)
17c. Favours in particular an EU wide conference on debt and the future of the Eurozone to be organized in a form of a convention with a view of delivering Treaty change so as to so as to improve democratic accountability and deepen economic integration of EMU;
Amendment 502 #
Motion for a resolution
Paragraph 17 d (new)
Paragraph 17 d (new)
17d. Reminds the conclusion of its troika report asking to address the need to provide debt relief to Greece and to address the severe capital outflows from therein, as well as its request to the Council to activate the framework it decided on the treatment of legacy assets so as to breakdown the vicious circle between sovereigns and the banks and alleviate the public debt burden in Ireland, Greece, Portugal and Cyprus;
Amendment 513 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Asks the Commission to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the CSRs and to strengthen its approach by building a fourth pillar on taxation which would include a yearly monitoring mechanism such as developments regarding tax fraud and evasion, the state of play of environmental taxation as well as measures put in place at both national and European level to address specific CSRs for improving tax justice;
Amendment 521 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Underlines that the flagship initiative for a resource efficient Europe calls for environmentally tax subsidies to be phased-out; recalls the Commission assessment according to which there is large a policy space for shifting taxes from labour to environmental taxes;
Amendment 522 #
Motion for a resolution
Paragraph 18 b (new)
Paragraph 18 b (new)
18b. Underlines that according to the Commission the subsidies and externalities of the fossil fuel and nuclear based power and heat represent a cost of EUR 262 billion per year;
Amendment 523 #
Motion for a resolution
Paragraph 18 c (new)
Paragraph 18 c (new)
18c. Emphasizes that according to the Commission, labour taxes account for around 53% if total tax revenue in the euro area against 5.7% for environmental taxation; points out that there is a large scope for such environmentally friendly fiscal reform;
Amendment 524 #
Motion for a resolution
Paragraph 18 d (new)
Paragraph 18 d (new)
18d. Urges therefore that an updated EU2020 strategy as well as CSRs should include specific targets and benchmarks for both monitoring the phasing-out of market-distorting environmentally harmful subsidies by 2020 at the latest and for increasing the share of environmental taxes in proportion of the overall tax revenue by at least 5% by 2020;
Amendment 531 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Believes that national fiscal councils could play a useful role at EU level; requests the set-up of a European network allowing for an independent and pluralistic analysis of the economic perspectives to be established as a basis for a well-informed proper political discussion among stakeholders; underlines that such network should promote theoretical diversity so as to avoid group thinking:
Amendment 545 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that the MIP must be used in a more balanced manner between deficit and surplus countries, also to address countries with significant room for action; urges the Commission for a revision of the MIP so as to develop diligently a fully symmetrical rationale for current account imbalances in the framework of the macroeconomic imbalances procedure;
Amendment 552 #
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Calls for the completion of the Scoreboard for macroeconomic imbalances with social indicators which should be on equal footing as the rest of MIP indicators; is of the opinion that such indicators must also be able to trigger corrective action and not merely to "monitor" the overall socioeconomic situation; insists that excessive unemployment, inequality and poverty are also threatening imbalances for the Eurozone; recalls its repeated requests to adopt indicators regarding resource efficiency, indicators on unit capital costs as well as other indicators relevant for monitoring progress towards updated EU2020 objectives; including non-cost competitiveness related indicators in fields such as R&D, education, and training;
Amendment 553 #
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20b. Underlines that a resource efficiency indicator to be integrated in the MIP scoreboard should in particular facilitate monitoring progress made towards the decoupling of economic development from the use of natural resources;
Amendment 554 #
Motion for a resolution
Paragraph 20c (new)
Paragraph 20c (new)
20c. Is of the opinion that the MIP scoreboard should be submitted to a proper democratic scrutiny by the EU co- legislators meaning that the MIP framework should be reviewed at least in line with the European Parliament position adopted ahead of the six-pack negotiations foreseeing the adoption of the MIP Scoreboard by means of a delegated act;
Amendment 571 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Asks the Commission to take into account all relevant factors, including real growth and inflation, as well as unemployment rates, when evaluating the economic and fiscal situations of Member States under the EDP;
Amendment 586 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Insists that the focus on structural deficits since the 2005 reform of the SGP, together with the introduction of an expenditure rule with the 2011 reform, creates margins for the discretionary implementation of the SGP, as the calculation of potential growth and potential output, underpinning the assessment of structural deficits, and that of the expenditure rule are subject to several questionable assumptions and substantial revisions between the Commission’'s autumn and spring forecasts, thereby leading to various calculations and diverging assessments as regards the implementation of the SGP;
Amendment 590 #
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Calls in that perspective on the Commission to put forward a legislative proposal for codifying in the legislation the concept of 'structural balance' advocates in particular for a more complete definition of the concept reflecting a wider theoretical background which should include inter alia the interwoven role played by the financial cycle and the business cycle;
Amendment 591 #
Motion for a resolution
Paragraph 24 b (new)
Paragraph 24 b (new)
24b. Reminds the Commission that several monitoring requirements of Regulation (EU) No 473/2013 regarding inter alia the estimation of multiplier effects on a country-by-country basis as well as indications on how reforms and measures are instrumental to the achievement of the targets set by the Union's strategy for growth and jobs have not yet been implemented by the Commission; calls upon the Commission to act in conformity with article 265 of the Treaty so as to comply with the legal obligations referred above;
Amendment 600 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Calls on the Commission, when evaluating the fiscal position of Members States, to include a better balance between the impact of the agreed fiscal measures and reforms and the fiscal figures based on estimated potential growth for GDP, output gaps and structural deficits that may introduce unexpected radical change at a later stage;
Amendment 627 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Acknowledges, based on the current situation, that the economic governance framework must be corrected and completed in both the medium and long term to allow for the EU and the euro area to meet the challenges of convergence, full-employment long-lasting investment and reliance;
Amendment 638 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Calls for the annual sustainable growth guidelines to be made subject to a codecision procedure that should be introduced in the next Treaty change and in the meantime the be subject to an interinstitutional agreement; instructs its President to present the annual sustainable growth guidelines as amended by Parliament at the spring European Council;
Amendment 642 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Recalls that legislation implemented during the crisis on the basis of intergovernmental agreements lacks democratic accountability at EU level; underlines that the 'Pringle' ECJ judgment provides a basis for bringing the ESM within the community acquis;
Amendment 657 #
Motion for a resolution
Paragraph 31
Paragraph 31
31. Calls for a new legal framework for future assistance programmes in order to ensure that all decisions are taken under the responsibility of the Commission with full involvement of ParliamentReminds its position that the troika has to be replaced by a community based framework; reminds that Regulation (EU) No 472/2013 provides for a community framework for elaborating and monitoring macroeconomic adjustment programmes which would be consistent with a non-negotiating role of 'silent observer' for the ECB and a reviewed role for the IMF as requested by the European Parliament in its report on the troika activities;
Amendment 665 #
Motion for a resolution
Paragraph 31 a (new)
Paragraph 31 a (new)
31a. Reminds the Commission and the Council of its position adopted in plenary regarding Regulation (EU) No 472/2013; emphasises in particular that it has laid down provisions in this position which increase further the transparency and accountability of the decision-making process leading to the adoption of macroeconomic adjustment programmes, providing for a clearer and well- delimitated mandate and overall role for the Commission; asks the Commission to integrate such provisions in the framework of a future proposal to amend Regulation (EU) No 472/2013;
Amendment 666 #
Motion for a resolution
Paragraph 31 b (new)
Paragraph 31 b (new)
31b. Underlines that Regulation (EU) No 472/2013 foresees several provisions which have not been applied so far; recalls in particular the request contained in the European Parliament report on the troika that the MoUs need to be adapted in order to take into account the practice and institutions for wage formation and the national reform programme of the Member State concerned in the context of the Union's strategy for growth and jobs as set out in Regulation (EU) No 472/2013 (Article7(1)); the need to ensure sufficient means for fundamental policies such as education and healthcare (article 7(7)); as well as an effective involvement of social partners in the design and implementation of adjustment programmes (article 8); calls upon the Commission to act in conformity with article 265 of the Treaty so as to comply with the legal obligations referred to above;
Amendment 667 #
Motion for a resolution
Paragraph 31 c (new)
Paragraph 31 c (new)
31c. Asks for an inquiry committee on alleged maladministration and EU law infringements by the Troika;
Amendment 703 #
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 having a relevant macroeconomic impact across the EMU and a reinforced democratic legitimacy;
Amendment 753 #
Motion for a resolution
Paragraph 37 – indent 1
Paragraph 37 – indent 1
– a ‘'taxation union’' and an euro area fiscal capacity going hand-in-hand with commensurate democratic legitimacy mechanism within the European Parliament,
Amendment 771 #
Motion for a resolution
Paragraph 37 – indent 2 a (new)
Paragraph 37 – indent 2 a (new)
- enhanced democratic accountability mechanisms so as to ensure that all euro area National parliaments follow each step of the European semester process; as well as a generalized co-decision in all economic fields (including article 126 of the TFEU and competition policy) and regarding article 352 of the TFEU;
Amendment 772 #
Motion for a resolution
Paragraph 37 – indent 2 b (new)
Paragraph 37 – indent 2 b (new)
- asymmetric shock mechanisms;
Amendment 773 #
Motion for a resolution
Paragraph 37 – indent 2 c (new)
Paragraph 37 – indent 2 c (new)
- an enhanced macroeconomic imbalances procedure for the euro area as a whole aiming at preventing and correcting macro-financial divergences and aiming at ensuring an appropriate fiscal stance for the euro area as a whole;
Amendment 774 #
Motion for a resolution
Paragraph 37 – indent 2 d (new)
Paragraph 37 – indent 2 d (new)
- a gradual mutualisation of sovereign debt going hand in hand with enhanced economic policy coordination and enforcement of common rules and a clear commitment to economically and socially sustainable reforms;
Amendment 775 #
Motion for a resolution
Paragraph 37 – indent 2 e (new)
Paragraph 37 – indent 2 e (new)
- a common deposit guarantee scheme.
Amendment 808 #
Motion for a resolution
Paragraph 38
Paragraph 38
Amendment 814 #
Motion for a resolution
Paragraph 39
Paragraph 39