31 Amendments of Gunnar BECK related to 2021/2063(INI)
Amendment 83 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Is deeply concerned about the unprecedented healthcare, social and economic crisis caused by the national and regional lockdown measures following the COVID-19 pandemic, resulting in a sharp contraction of the euro area economy, a sharp increase in economic and social inequalities, exacerbated by the ultra-loose monetary policy of the ECB, and rapidly deteriorating labour market conditions; notes that euro area activity is expected to rebound, although the speed, scale and evenness of the rebound remains highly uncertain;
Amendment 91 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses that sustainable growth, resilience and price stability cannot be achieved by monetary policy alone and that supportive and discretionary fiscal policy and socially balanced and productivity-enhancing reforms and investments are also necessary; acknowledges President Lagarde’s call for full alignment of fiscal and monetary policies in tackling the COVID-19 crisisDeeply regrets the comments of ECB President Christine Lagarde made during the Time 100 Talks, advocating for global vaccination against COVID-19; recalls that global mass vaccination is not within the scope of the mandate of the ECB; calls on the ECB to refrain from advocating mass experiments on the global population, and from engaging in promotional campaigns for Big Pharma;
Amendment 99 #
Motion for a resolution
Paragraph 5
Paragraph 5
Amendment 109 #
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 118 #
Motion for a resolution
Paragraph 7
Paragraph 7
Amendment 122 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the ECB’s substantially eased monetary policy stance in response to the COVID-19 crisis, which includes the introduction of the pandemic emergency purchase programme (PEPP), the relaxation of the eligibility and collateral criteria and the offer of new longer-term refinancing operations; welcomes, moreover, the ECB’s decision to maintain instruments, such as forward guidance, asset purchases and longer- term refinancing operations, as an integral part of its toolkitCondemns the comments of ECB president Christine Lagarde made during the press conference following the September Governing Council Meeting, where she claimed that maintaining favorable financing conditions is a goal of the ECB; recalls the ECB that its mandate is to protect price-stability, not to maintain favorable financing conditions to institutions that may not deserve favorable financing conditions;
Amendment 144 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. WelcomeCondemns the ECB’s decision to continue to conduct net asset purchases at a significantly higher pace under the PEPP until at least the end of March 2022;
Amendment 147 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Recalls and supports the statement of Bundesbank president Jens Weidmann in his interview with Welt Am Sonntag of 8 August 2021 that PEPP must end when COVID-19 is over, since "the first P stands for pandemic and not for permanent";
Amendment 148 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. WelcomeCondemns the ECB’s expectation that monthly net asset purchases under the asset purchase programme (APP) will continue to run for as long as necessary to reinforce the accommodative impact of its policy rates;
Amendment 165 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Is extremely worried about the fact and condemns that German Target claims rose by 78 billion euros in September, which means the Bundesbank now has a claim against the rest of the Eurosystem of over 1.12 trillion euros;
Amendment 166 #
Motion for a resolution
Paragraph 11 b (new)
Paragraph 11 b (new)
11 b. Is extremely worried and condemns that since March 2020, the ECB has overbought 19 billion euros worth of Italian debt, relative to the Capital Key; calls on the ECB to end the Mediterranean bias and return to the Capital Key;
Amendment 167 #
Motion for a resolution
Paragraph 11 c (new)
Paragraph 11 c (new)
11 c. Recalls that the ECB is now by far the largest creditor of the euro countries; calls on the ECB to end this kind of monetary cannibalism;
Amendment 168 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes the ECB’s decision on a new symmetric inflation target of 2 % over the medium term and its commitment to maintain a persistently accommodative monetary policy stance in order to meet its inflation target; notes with concern that inflatRecalls that the ultra- accommodative monetary policies of the euro area are costing German savers 7 billion eurose to a decade-high 3 % in August 2021; calls on the ECB to evaluate and address this upward trend and its consequences more attentiv per month; calls on the ECB to normalise interest rates immediately;
Amendment 190 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Is extremely worried that real estate prices in the euro area have risen 6.8% in Q2 of 2021 compared to Q2 in 2020, and 11% in Germany, largely due to the ultra-accommodative monetary policy off the EU; recalls that almost 50% of German households are tenants and that German rents have risen 80% since 2010, and that the German middle class can no longer afford real estate; recalls that Germans now have to take out an average mortgage of 312.000 euros, which is 7 times their disposable income: reminds the ECB that this leverage is no longer affordable for most Germans; calls on the ECB to end its monetary terrorism on the German citizen and normalise interest rates as soon as possible;
Amendment 198 #
Motion for a resolution
Subheading 3
Subheading 3
Amendment 201 #
Motion for a resolution
Paragraph 14
Paragraph 14
Amendment 202 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recalls that, as an EU institution, the ECB is bound by the Paris Agreement and that this should be reflected in its policies, taking into account the potential adverse effects on prices, especially of raw materials, and on employment, which may be created if an unpragmatic approach is adopted to the digital and green transition;
Amendment 212 #
Motion for a resolution
Paragraph 15
Paragraph 15
Amendment 217 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Agrees with the ECB that tackling the climate emergency touches not only upon its secondary but also upon its primary mandate, given that climate change and its consequences pose a threat to price stability, and calls on the ECB in this context to maintain a cautious approach aimed at introducing an economically-sustainable ecological transition not driven by excessive ideological zeal;
Amendment 222 #
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 228 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. WelcomNotes the ECB’s new action plan and its detailed roadmap of climate change-related actions to further incorporate climate change considerations into its policy framework;
Amendment 229 #
Motion for a resolution
Paragraph 17
Paragraph 17
Amendment 237 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Believes that the market neutrality principle falls short of the commitments under the Paris Agreement and the EU’s objective of achieving climate neutrality by 2050 at the latest; notes that the ECB has already deviated from market neutrality in several instancesUnderlines the importance of the market neutrality principle;
Amendment 247 #
Motion for a resolution
Paragraph 18
Paragraph 18
Amendment 253 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Regrets the factNotes that green bond issuance in the EU represents only 2.6 % of the EU’s total bond issuance;
Amendment 258 #
Motion for a resolution
Paragraph 19
Paragraph 19
Amendment 265 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Welcomes the factNotes that the ECB is taking steps to incorporate climate-related risks into its collateral framework but warns against delays in its implementation; is concerned about the fact that the ECB continues to rely exclusively on private external credit rating agencies (CRAs) for risk assessment;
Amendment 283 #
Motion for a resolution
Paragraph 21
Paragraph 21
Amendment 297 #
Motion for a resolution
Paragraph 22
Paragraph 22
Amendment 305 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Calls on the ECB to immediately end its plans to launch a digital euro, since a CBDC would give unprecedented and unwarranted power to the ECB over the financial system, and allows for the ECB to nudge users in politically desired directions;
Amendment 352 #
Motion for a resolution
Paragraph 30
Paragraph 30