[ParlTrack]

Motion for a resolution
Recital A

A. whereas the introduction of the euro is one of the ~~European project’s most significant political achieve~~main causes of Europe’s major economic problems, such as over- indebtedness, unemployments and ~~a cornerstone of EMU construction~~weak economic growth;

2019/01/09
Committee: BUDG ECON

Pirkko RUOHONEN-LERNER

Motion for a resolution
Recital B

B. whereas the financial and economic crisis has revealed the weaknesses of the euro ~~architecture, highlighting the need for the swift completion of the EMU~~;

2019/01/09
Committee: BUDG ECON

Pirkko RUOHONEN-LERNER

Motion for a resolution
Recital C

C. whereas membership of a common currency area requires common rules and obligations, as well as common tools to respond to symmetric and asymmetric shocks and for the promotion of solidarity and socioeconomic upward convergence; whereas risk reduction and risk sharing should go hand in hand in deepening the EMU to be respected;

2019/01/09
Committee: BUDG ECON

Pirkko RUOHONEN-LERNER

Motion for a resolution
Paragraph 1

1. Welcomes the Commission’s proposal of 6 December 2017 for a Council Regulation on the establishment of the European Monetary Fund and considers it a useful contribution to the ongoing debate on the future of Europe, the completion of the EMU and the ESM reform;deleted

2019/01/09
Committee: BUDG ECON

Pirkko RUOHONEN-LERNER

Motion for a resolution
Paragraph 3

3. Highlights that the proper functioning of an EMU depends on the existence of an institution serving as a ‘lender of last resort’; acknowledges, in this context, the positive contribution of the ESM, despite its intergovernmental nature, towards addressing the weaknesses of the institutional setting of the EMU, namely by providing financial assistance to several Member States affected by the financial crisis and the Great Recession;deleted

2019/01/09
Committee: BUDG ECON

Pirkko RUOHONEN-LERNER

Motion for a resolution
Paragraph 5

5. Notes that the Commission’s proposal has generated a lively discussion on its political, financial and legal implications, and that discussions continue on a number of important issues; stresses, however, that this debate on the long-term vision of the ESM’s institutional setting should not delay the steps urgently required to strengthen the EMU and its capacity to promote financial stability and respond to economic shocks; calls, therefore, for a meaningful ESM reform in the short term by means of a revision of the ESM Treaty, without prejudice to more ambitious developments in the future;deleted

2019/01/09
Committee: BUDG ECON

Pirkko RUOHONEN-LERNER

Motion for a resolution
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, including precautionary instruments, to promote economic and financial stabilisation, investment and upward socioeconomic convergence in the euro area;deleted

2019/01/09
Committee: BUDG ECON

Pirkko RUOHONEN-LERNER

Motion for a resolution
Paragraph 11

11. Underlines the risks arising from the delay in completing the banking union; welcomes, in this context, the European Council’s commitment to a common backstop for the SRF and recalls the need also to establish the EDIS;deleted

2019/01/09
Committee: BUDG ECON

8 Amendments of Pirkko RUOHONEN-LERNER related to 2017/0333R(APP)

ParlTrack - 2011-2024