12 Amendments of Markus FERBER related to 2016/2063(INI)
Amendment 23 #
Motion for a resolution
Recital E
Recital E
E. whereas, according to the ECB projection of March 2016, the average inflation rate in the euro area, after being nil in 2015, will remain close to this level in 2016 (0.2 %) and reach 1.2 % in 2017; whereas the low inflation rates seen in recent years can primarily be attributed to low energy prices;
Amendment 44 #
Motion for a resolution
Recital H
Recital H
H. whereas this programme has since been upgraded, with the asset purchase scheduled to run until March 2017 for a total amount which should be close to EUR 1.7 trillion, and the list of eligible assets has been enlarged to include corporate bonds; whereas the ECB has thus loaded its balance sheet with a massive level of risk;
Amendment 45 #
Motion for a resolution
Recital I
Recital I
I. whereas the ECB has bought just EUR 19 094 million of asset-backed securities (ABS) since the beginning of its purchase programme;
Amendment 67 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Stresses that the euro area continues to suffer from a high level of unemployment and excessive low inflation and that, in addition, the euro area is facing a very low level of productivity growth, which is the result of the lack of investment and a failure to carry out structural reforms since the beginning of the crisis; notes that the high level of public debt and the huge number of non- performing loans in the banking sector in some Member States are still fragmenting the euro area financial market, thus reducing room for manoeuvre to support the most fragile economies;
Amendment 118 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Agrees with ECB President Mario Draghi that the single monetary policy cannot stimulate aggregate demand unless it is complemented by sound fiscal policies and ambitious structural reform programmes at Member State level; recalls that the main benefitfunction of monetary policy is to safeguard price stability in order to guarantee a stable environment for investment; considers that monetary policy is not the appropriate tool to solve the structural problems of the European economy;
Amendment 141 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes, however, that even though the impact, risks and spillover effects of unconventional measures hasve been significant, inflation is not expected to converge to the 2 % medium-term objective at the 2017 horizon; notes that the current recovery in bank and market lending has not wholly produced the expected effect on the existing investment gap in the euro area so far;
Amendment 184 #
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 204 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Deplores the fact that some Member States are using the ultra-low (negative) interest rate policy as a pretext to defer the necessary consolidation of their primary public deficits, particularly at central government level, and points in this connection to the Stability and Growth Pact commitments;
Amendment 234 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Calls on the ECB to pay particular attention to the proportionality principle in connection with the banking supervisory tasks conferred on it;
Amendment 242 #
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16b. Points to the apportionment of responsibilities between the ECB and the European Banking Authority (EBA); stresses that the ECB should not become the de facto standard-setter for non-SSM banks;
Amendment 243 #
Motion for a resolution
Paragraph 16 c (new)
Paragraph 16 c (new)
16c. Notes that on 18 May 2016 the ECB Governing Council adopted the Regulation on the collection of granular credit and credit risk data (AnaCredit); calls on the ECB and national central banks to leave as much leeway as possible when implementing AnaCredit;
Amendment 250 #
Motion for a resolution
Paragraph 16 d (new)
Paragraph 16 d (new)
16d. Calls on the ECB not to begin work on any further stages in connection with AnaCredit until after a public consultation exercise, with full involvement of the European Parliament and particular account being taken of the proportionality principle;