Activities of Cora van NIEUWENHUIZEN related to 2015/2115(INI)
Plenary speeches (1)
European Central Bank annual report for 2014 (debate) NL
Shadow reports (1)
REPORT on the European Central Bank Annual Report for 2014 PDF (279 KB) DOC (96 KB)
Amendments (18)
Amendment 13 #
Motion for a resolution
Recital C
Recital C
C. whereas, again according to the same forecast, the fiscal outlook in the euro area should exhibit a slightn improvement, with decreases expected in the public deficit (from 2.4 % in 2014 to 1.7 % in 2016) and the public debt (from 94 % at the end of 2014 to 92.5 % at the end of 2016);
Amendment 78 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. AcknowledgNotes 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; insists that monetary policy cannot resolve the fiscal and economic problems that exist in many Member States and cannot be a substitute for necessary structural reforms.
Amendment 85 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Expresses strong concerns about the unintended consequences of the ECB´s quantitative easing measures; points to particular concerns around competitive distortions within the Single Market created by the PSPP program as well as the negative effects of artificially low interest rates and the flattening yield curve on financial stability in general and the stability of pension funds and life insurers in particular;
Amendment 86 #
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Stresses the importance of the organisational independence of the European Systemic Risk Board and calls on the ECB to consider ways of enhancing the ESRB´s independence;
Amendment 96 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Is concerned atPoints out the dangers to financial stability posed by artificially low interest rates, notes the rise in long-term domestic yields in most Member States observed since the second quarter of 2015, which could ul and emphasises the need for proper, prudent and timately erode the expected positive impactmanagement of the winding down of non-conventional monetary policy measures adopted by the ECB;
Amendment 136 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that, according toEmphasises the concerns expressed in the ECJ judgment of 16 June 2015 in Case C-62/14, which states that when the ECB purchases government bonds on secondary markets it is exposed to a significant risk of losses as well as to the risk of a debt cut;
Amendment 153 #
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 177 #
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 210 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Deplores the fact that the ECB has exceeded even a broad interpretation of its Treaty-based mandate, inter alia in its role in the Troika and Quadriga; urges the ECB to take a step backwards andUrges the ECB to reinforce its independence from political decisions, abiding by the ECJ judgment in Case C- 62/14 of 16 June 2015, especially its paragraph 102, as well as the opinion expressed by Advocate-General Cruz Villalón in the same case, especially its paragraphs 227 and 263;
Amendment 227 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Calls for a thorough assessment of the Troika’s modus operandi and of the ECB’s involvement in the Troika and Quadriga frameworks, with a view to clarifying and redefining the scope of responsibilities and ensuring greater democratic accountability in the adoption and implementation of bailout programmes; invites the Council to reconsider the involvement of the ECB and IMF in the Troika;
Amendment 230 #
Motion for a resolution
Paragraph 24
Paragraph 24
Amendment 235 #
Motion for a resolution
Paragraph 25
Paragraph 25
Amendment 237 #
Motion for a resolution
Paragraph 25 – point a
Paragraph 25 – point a
Amendment 238 #
Motion for a resolution
Paragraph 25 – point b
Paragraph 25 – point b
Amendment 239 #
Motion for a resolution
Paragraph 25 – point c
Paragraph 25 – point c
Amendment 245 #
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 262 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Believes that the current structure of the Banking Union should be complemented in the future with a single mechanism to guarantee bank deposits, aimed at avoiding capital flight in the event of a future banking crisis. A single DGS cannot be contemplated as long as other pillars of the Banking Union have not been fully implemented and as long as legacy concerns regarding bank balance sheets have not been fully resolved;
Amendment 275 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Welcomes the capital markets union project and its potential contribution to reducing excessive dependence of euro area economies on the banking system;