10 Amendments of Tom VANDENKENDELAERE related to 2017/0333R(APP)
Amendment 51 #
Motion for a resolution
Recital C
Recital C
C. whereas membership of a common currency area requires common budgetary rules and obligations, as well as common tools to respond to symmetric and asymmetric shocks and for the promotion of solidarity and socioeconomic upward convergenceset out by the Stability and Growth Pact (SGP), socioeconomic upward convergence, and common tools to respond to economic shocks; whereas risk reduction and risk sharing should go hand in hand in deepening the EMU;
Amendment 89 #
Motion for a resolution
Recital H
Recital H
H. whereas in the short term, the ESM reform should contribute in particular to the banking union, providing a proper common financial backstop for the Single Resolution Fund (SRF), without prejudice to the need to implement the package to reduce non-performing loans and to establish a European Deposit Insurance Scheme (EDIS);
Amendment 98 #
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Urges the importance of individual Member States' financial stability; stresses that the provision of financial stability in an individual Member State is a concern of the whole EU, and should be supported by the EU, however subject to strict conditionality;
Amendment 129 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Stresses that the role for national Parliaments remains fully preserved, in view of the large contributions of the Member States to the EMF; urges for a more explicit scrutiny role for national Parliaments in comparison to the current state of play in the ESM Treaty; national Parliaments should have the right to obtain information about the activities of the EMF, and to engage in a dialogue with the EMF;
Amendment 153 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Underlines that the primary mission of the new ESF should continue to be to provide transitional financial assistance to Member States in need, on the basis of the agreed adjustment programmes; stresses that the ESF must have adequate firepower for that purpose; opposes, therefore, any attempt to turn the reformed ESM into an instrument for banks only, or to reduce its financial capacity to support Member States; recalls that financial assistance provided to Member States under the new ESF has to be complemented by other fiscal capacity tools, includingthe range of financial instruments currently available for the ESM should also be available for the EMF, including the possibility to provide precautionary finstruments, to promote economic and financial stabilisation, investment and upward socioeconomic convergence in the euro areaancial assistance, allowing EMF Member States the possibility to access EMF assistance before they face major difficulties raising funds in the capital markets, in order to promote economic and financial stabilisation;
Amendment 178 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses that evaluation of the financial assistance requests made by the ESF, as well as its decision-making on the design of the adjustment programmes, in cooperation with other institutions, should in no way replace, duplicate or overlap the normal macroeconomic and fiscal surveillance provided for in the EU’s financialbudgetary rules and regulations as outlined in the SGP, which must remain the Commission’s exclusive competence;
Amendment 202 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls for a swift ESM reform that also redefines its role, functions and financial tools, so that the new ESF can provide for financial stability, and can offer liquidity support in case of resolution and serve as a financial backstop for the SRF; calls for the SRF to be made operational as soon as possible and, in any case, before 2024;
Amendment 207 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Highlights the importance of a credible EMF provided with adequate firepower linked to strict conditionality, in order to safeguard individual Member States against financial market turbulence; stresses that conditionality consists of both ex-post conditionality, the policies agreed upon for crisis programmes, and ex-ante conditionality, sound economic policies based on European budgetary rules;
Amendment 229 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Invites the ESM to establish a protocol for a Memorandum of Cooperation (MoC) with the European Parliament, with immediate effect, to further promote institutional dialogue with the European Parliament and enhance the ESM’s transparency, accountability and democratic legitimacy in line with the further deepening of interinstitutional cooperation on the economic governance of the euro area;
Amendment 236 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Stresses that the Director of the EMF should be elected by the European Parliament, and should report to the European Parliament;