Activities of Barbara KAPPEL related to 2017/2124(INI)
Plenary speeches (1)
European Central Bank Annual Report for 2016 (debate) DE
Amendments (17)
Amendment 86 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Gives a positive assessmentTakes note of the monetary policy pursued by the ECB in the period 2012- 2016 in terms of its contribution to economic recovery by preventing deflation, preserving favourable financing conditions and maintaining financial stability and the proper functioning of the payment system; takes note that the policies of the ECB did not lead to sustainable financial stability, nor did they spur highly indebted countries to lower their debt levels;
Amendment 104 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Recalls that, according to Eurostat, average inflation was just 0.2 % in 2016, while inflation excluding energy prices stood at 0.9 %; underlines however the large variance in inflation rates across the Eurozone;
Amendment 117 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Is concerned that the ECB will likely not reach its inflation target for at least six consecutive years and will remain below the medium-term target level of 2 % until at least 2020 despite pursuing a very accommodative monetary policy,; which indicatesd that the economy is not operating at full capacityECB's programs did not fulfill its objectives;
Amendment 226 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes that according to the ECB, economic recovery in the Eurozone has relied on the fall in oil prices and the ECB’s monetary policy, which will add a cumulative 1.7 % to growth in the period 2016-2019, with no sizable positive contribution from fiscal policy so far; underlines that the fall in oil prices is a prime example of deflation, which has fostered economic growth;
Amendment 240 #
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, as well as structural reforms in the Member States;
Amendment 256 #
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 stagnationand its effect on economic recovery;
Amendment 271 #
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 304 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Acknowledges that monetary policy has effectively reduced the cost of credit and helped to improve access to finance for companies and households; considers, however, that the effect of this policy is limited owing to the lack of sufficient credit demand in the euro area; underlines with concern the risks of cheap debt- financing;
Amendment 318 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Agrees with the ECB that a bank’s profitability depends for a large part on its business model, but also underlines the effect of low interest rates notwithstanding;
Amendment 329 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Acknowledges that Notes withe 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 Stateoncern that the amount of nonperforming loans (NPLs) in some Member States remains high, and that the policies of the ECB had very little effect on this;
Amendment 403 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Agrees that a well-functioning, diversified and integrated capital market would support the transmission of the single monetary policy; calls for the full completion and implementation of the capital markets union and the banking union;
Amendment 411 #
Motion for a resolution
Paragraph 28
Paragraph 28
Amendment 428 #
Motion for a resolution
Paragraph 29
Paragraph 29
Amendment 449 #
Motion for a resolution
Paragraph 31
Paragraph 31
31. Agrees with the ECB on the importance of physical money as the only legal tender, and reminds all Eurozone countries that euro coins and banknotes and other robust stores of value must not be rejected in transactions;
Amendment 452 #
Motion for a resolution
Paragraph 32
Paragraph 32
Amendment 492 #
Motion for a resolution
Paragraph 35
Paragraph 35
Amendment 522 #
Motion for a resolution
Paragraph 36 a (new)
Paragraph 36 a (new)
36 a. Calls for a full external audit of the ECB;