8 Amendments of Gerolf ANNEMANS related to 2015/2115(INI)
Amendment 9 #
Motion for a resolution
Recital B
Recital B
B. whereas, according to the same forecast, unemployment in the euro area is expected to record a slow decrease, from 11.6 % at the end of 2014 to 10.5 % at the end of 2016; whereas there are major disparities between the unemployment rates in different Member States, with figures ranging from 6.4 % in Germany to 26.6 % in Greece, and whereas, particularly in Southern Europe, such economic indicators as public debt and unemployment remain at alarming levels;
Amendment 10 #
Motion for a resolution
Recital B
Recital B
B. whereas, according to the same forecast, unemployment in the euro area is expected to record a slow decrease, from 11.6 % at the end of 2014 to 10.5 % at the end of 2016; whereas there are major disparities between the unemployment rates in different Member States, with figures ranging from 6.4 % in Germany to 26.6 % in Greece; whereas this is yet further evidence that the ‘one size fits all’ approach has failed;
Amendment 20 #
Motion for a resolution
Recital D
Recital D
D. whereas the current recovery is mainly supported by private consumption, while private investment in the euro areaexternal factors such as the falling price of oil, and whereas Southern countinues to stagnate at levels significantly below those registered before the start of the crisisries still need an external devaluation of their currencies if they are to become competitive in the longer term;
Amendment 36 #
Motion for a resolution
Recital F
Recital F
F. whereas in 2014 the ECB lowered its key refinancing rates to the effective lower bound and reduced its deposit facility rate to -0.20 %; whereas lower real rates have not translated into either increased credit for households and businesses, especially SMEs, or GDP growth and job creation; whereas, regrettably, because of the ECB’s low interest rate policy, many insurance funds and pension funds are finding it increasingly difficult to honour their obligations, which entails a serious risk in the medium term in view of the ageing of the European population;
Amendment 38 #
Motion for a resolution
Recital G
Recital G
G. whereas in 2014 the ECB implemented a series of targeted longer-term refinancing operations (TLTROs) and purchase programmes for selected private-sector assets aimingwhich in theory aimed at supporting lending to the real economy, but which in practice have almost completely failed and have had extremely little impact on the real economy;
Amendment 83 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Acknowledges that, in reaction to a complex environment of falling inflation, contraction of credit and sluggish economic growth, and with its interest rates close to the zero lower bound, the ECB resorted to non-conventional monetary policy instruments, and observes that there are doubts as to whether some of these measures – such as the direct or indirect purchase of government debt – are compatible with the no-bail-out clause;
Amendment 184 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes that austerity policies in a number of Member States have contributed to stagnation and recession, with damaging effects on euro area members’ public accounts, levels of unemployment and social cohesion; observes furthermore that, after years of crisis, the gulf between the Northern and Southern EMU countries has only grown wider, and therefore advocates that the monetary union be split into Northern and Southern currency areas;
Amendment 253 #
Motion for a resolution
Paragraph 26 – subparagraph 1 (new)
Paragraph 26 – subparagraph 1 (new)
Calls on the ECB, furthermore, to set up a working party including academic experts and the central bankers from the EMU countries with the aim of devising an orderly plan for bringing about an orderly division of the current monetary union; considers that this working party should help, by means of its well-considered analyses and orderly plan, to minimise any forward-looking speculation against Southern Member States on the financial markets;