12 Amendments of Markus FERBER related to 2017/0333R(APP)
Amendment 21 #
Motion for a resolution
Citation 12 a (new)
Citation 12 a (new)
- having regard to the agreement of 4 December 2018 by the Eurogroup on a term sheet for the further development of the ESM1a, _________________ 1a https://www.consilium.europa.eu/media/3 7267/esm-term-sheet- 041218_final_clean.pdf
Amendment 47 #
Motion for a resolution
Recital C
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 instrict adherence to common rules and obligations; whereas risk reduction is a necessary precondition to deepening the EMU;
Amendment 61 #
Motion for a resolution
Recital D
Recital D
D. whereas the creation of the European Financial Stability Facility (EFSF) and its later transformation into the European Stability Mechanism (ESM) have represented, despite its intergovernmental nature, an important step towards the creation of a European crisis management mechanism, helping to respond to the weaknesses of the EMU and providing financial assistance to several European countries affected by the crisis;
Amendment 67 #
Motion for a resolution
Recital E
Recital E
Amendment 87 #
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 establish a European Deposit Insurance Scheme (EDIS);
Amendment 97 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. welcomes the agreement of 4 December 2018 by the Eurogroup on a term sheet for the further development of the ESM1a; considers that the further work on the reform of the ESM should be based on this agreement; _________________ 1a https://www.consilium.europa.eu/media/3 7267/esm-term-sheet- 041218_final_clean.pdf
Amendment 113 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Highlights that the proper functioning of an EMU depends onis supported by 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;
Amendment 125 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls its previous positions in favour of the incorporation of the ESM into the EU legal framework, which would make it a fully-fledged EU body; insists that this incorporation should contmust not underminue to be understood as part of the EMU completion projecthe fiscal and democratic oversight prerogatives of national parliaments; believes that such an integration would allow for management in accordance with the Community method, ensure the full consistency of fiscal rules and obligations, facilitate economic and fiscal policy coordination, and enhance democratic legitimacy and accountability through the European Parliament;
Amendment 150 #
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 based on strict conditionality; 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;
Amendment 174 #
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 overlapnot replace the normal macroeconomic and fiscal surveillance provided for in the EU’s financiscal rules and regulations, which must remain the Commission’s exclusive competence; considers that the Commission's track record in monitoring and enforcing the EU's fiscal framework is poor and that the Commission's decision making process has often been clouded by political considerations; therefore considers it necessary to upgrade the ESF's role in the macroeconomic and fiscal surveillance procedures;
Amendment 190 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Highlights the need for an efficient decision-making procedure in the reformed ESM, particularly in the case of urgent situations; points out that the existing decision making procedures have worked in terms of speed and efficiency;
Amendment 217 #
Motion for a resolution
Paragraph 11
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;