17 Amendments of Tom VANDENKENDELAERE related to 2017/2124(INI)
Amendment 1 #
Motion for a resolution
Citation 5
Citation 5
Amendment 63 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Underlines the federalindependent nature of the ECB, which rules out national vetopolitical objectives, enabling it to act decisively in addressing the crisiscrises; however stresses the need for more accountability, proportionate to its level of independency;
Amendment 87 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Gives a positive assessment 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 ensuring the proper functioning of the payment systemsTARGET2;
Amendment 139 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Agrees with the ECB that in order to reach the inflation target, supportiveound fiscal policies and socially balanced productivity-enhancing structural reforms are required;
Amendment 150 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that additional policy measures should be considered in order to move closer and more rapidly towards the inflation objective, including an increase in monthly purchases, the inclusion of equity purchasein order to create certainty and trust on financial markets; the ECB should focus ion the APP and the extension of the TLTRO programme to households through zero-coupon perpetual loana clear and concise communication of its monetary policy measures;
Amendment 173 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Asks the ECB to consider complemeIdentifies that next to the ECB's primary objective of maintaing itsing price stability objective with nominal GDP growth targeting, defined as an annual HICP inflation rate of below, but close to 2% over the medium term, the ECB does have, in accordance with Article 2 of its Statute, a secondary mandate to support 'the general economic policies of the Union', provided this does not interfere with its objective of price stability;
Amendment 180 #
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 241 #
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 Commissiontherefore sound fiscal policies, focusing on public and private investments, together with productivity-enhancing structural reforms should be encouraged;
Amendment 277 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Stresses that excessive current account surpluses in some Member Statimbalances must be corrected through appropriate fiscal polici combination of sound fiscal policies such as domestic public investments in current account surplus Member States, and productivity- enhancing structural reforms in current account deficit Member States;
Amendment 295 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Points out that even though M1 grew at a rate of 8.8 % in 2016, M3 continues to grow at just 5 % per year, which shows that the transmission of monetary policy is not fully effective; therefore urges the launch of the Capital Markets Union (CMU), which could offer an alternative way of financing the economy during times of financial distress;
Amendment 302 #
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 areatrust in the financial system, and between financial institutions themselves;
Amendment 414 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Welcomes the positive opinion of the ECB on the quick establishment of thea European deposit insurance scheme (EDIS) as the third pillar of a fully-fledged banking union; stresses that the EDIS will further help to enhance and safeguard financial stabilitye importance of sufficient risk-sharing with the private sector, and a fully-fledged EDIS which does not rely on co-insurance with national deposit schemes;
Amendment 426 #
Motion for a resolution
Paragraph 29
Paragraph 29
Amendment 458 #
Motion for a resolution
Paragraph 32 a (new)
Paragraph 32 a (new)
32 a. Takes note of the ongoing discussion about ‘blockchain technology'; encourages the Commission and the ECB to look into the potential challenges it entails for the ECB’s monopoly of issuing money;
Amendment 464 #
Motion for a resolution
Paragraph 33
Paragraph 33
Amendment 499 #
Motion for a resolution
Paragraph 35
Paragraph 35
35. Believes that ECB profits from seigniorage revenue shcould be considered an EU budgetary resource, since they are directly linked to a fully developed, sui generis European policy; encourages the Commission and the ECB to assess the sufficiency and stability of these revenue flows, and the effects this could have on the ECB’s independence;
Amendment 512 #
Motion for a resolution
Paragraph 36
Paragraph 36
36. Considers thatEmphasizes that the ECB is granted more independence than other major central banks, while the degree of accountability it is subjected to appears to be weaker than in other major central banks; the ECB’s growing number of responsibilities and tasks necessitate greater ECB transparency and accountability towards Parliament;