24 Amendments of Markus FERBER related to 2021/2061(INI)
Amendment 6 #
Motion for a resolution
Citation 7
Citation 7
– having regard to the Commission’s Springummer 2021 European Economic Forecast of 12 Ma7 July 2021,
Amendment 21 #
Motion for a resolution
Recital A
Recital A
A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States thereby safeguarding the macroeconomic stability of the Economic and Monetary Union;
Amendment 25 #
Motion for a resolution
Recital B
Recital B
B. whereas according to the Commission’s fSummer Economic Forecasts, the GDP growth rate for 2021 stands at 4.35 % of GDP per capita in the euro area and 4.28% % in the EU 27, and is expected to rise to 4.45 % respectively in 2022;
Amendment 30 #
Motion for a resolution
Recital C
Recital C
C. whereas according to the Commission springSummer 2021 economic forecast, the drop in economic activity has been less than previously expected, thanks to the emergency support measures designed to provide liquidity to businesses and protect the income and jobs of EU citizens;
Amendment 35 #
Motion for a resolution
Recital D
Recital D
D. whereas the EU economy is expaccording to the Summer Economic Forecast, Real GDP is projected to reachturn to its pre-crisis level of quarterly output in the course of 2021, wiin the last quarter of 2021 in both the EU and the euro area, whereas, for the economic activity rebounding in all Member Statesuro area, this is one quarter earlier than expected in the Spring Forecast;
Amendment 43 #
Motion for a resolution
Recital F
Recital F
F. whereas in 2020, Member States provided total fiscal support estimated at more than 6.5 % of GDP, and as a result, the euro area and EU aggregate government deficit increased from historically low levels of around 0.5 % of GDP in 2019 to around 7 % in 2020, which will inevitably be reflected in tsignificantly higher aggregate debt levels;
Amendment 47 #
Motion for a resolution
Recital G
Recital G
G. whereas the ratio of public debt to GDP in the EU is forecast at 94 % this year, while the euro area debt-to-GDP ratio is forecast to follow the same trend, rising to 102 % this year; whereas this raises significant doubts in relation to long-term debt sustainability;
Amendment 55 #
Motion for a resolution
Recital H
Recital H
H. whereas reference values of up to 3 % of planned or actual government deficit and 60 % of debt to GDP are defined by the TFEUreaty on the Functioning of the European Union (TFEU) and should therefore guide economic policy- making in the Union;
Amendment 59 #
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. whereas the European Semester has been adapted this year, given the links to Member States' recovery and resilience plans;
Amendment 73 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes that the European economy is recovering from the devastating impact of the global pandemic; remains concerned about low growth potential compared to other regions in the post-pandemic recovery; notes that some Member States have suffered from structurally low growth levels even before the pandemic;
Amendment 80 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Acknowledges that despite the progress with vaccination campaigns, substantial risks to the forecastseconomic development remain from an epidemiological and economic perspective, which in turn could delay the transition to a more sustainable and future-proof economy;
Amendment 99 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Is pleased that, according to the Commission, economic activity in the EU is expected to pick up in all Member States, with further acceleration as of the second half of 2021, as containment measures are gradually relaxed and vaccination progresses, reflecting the growth impulse stemming from the implementation of the national recovery and resilience plans as well as national programmes; remains concerned, however, that the speed of the recovery will vary across Member States and regions;
Amendment 111 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is expected to be deactivated as of 2023; notes, furthermore, that the decision to deactivate the general escape clause should be taken as an overall assessment of the state of the economy based on quantitative criteria, with the level of economic activity in the EU compared to pre-crisis levels as the key quantitative criterion that this date should not be further pushed; points out that country-specific situations will continue tomay be taken into account after the deactivation of the general escape clause;
Amendment 126 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Is gravely concerned that according to the baseline scenario of the Commission’s latest Debt Sustainability Monitor, the debt ratio in the euro area is to peak at 104.6 % in 2024 and 2025, while the debt ratio in the Union is to peak at 96.5 % in 2024, before declining once again; notes that these high aggregated debt levels are not only a consequence of the Covid-19 crisis, but also of lax fiscal policies over the past years and poor enforcement of the EU's fiscal rules;
Amendment 145 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted, and that a premature withdrawal of fiscal support should be avoided; further highlights the expectation that economic activity will gradually normalise in the second half of 2021 and agrees that Member States’ fiscal policies should become more differentiated in 2022, duly taking into account the state of the recovery, fiscal sustainability and the need to reduce economic, social and territorial divergencesexpected growth rates and fiscal sustainability;
Amendment 169 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that Member States with high debt levels should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscal policy; stresses the importance of the Member States using the potential of the RFF to support the necessary structural changes and the transformation to more globally competitive, future-proof, agile industries; agrees that the growth of nationally financed current expenditure should be kept under control and be limited for Member States with high debt levels, allowing fiscal measures to maximise support to the recovery without pre-empting future fiscal trajectories and creating a permanent burden on public finances;
Amendment 179 #
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 197 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key structural challenges and investment needs, while embracing the green and digital transitions; Calls on Member States to make the most of this opportunity and to use it to transform their economies and make them more competitive;
Amendment 213 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls for a focus on fiscal structural reforms, including reforms enhancing efficient spending, as well as reforms strengthening competitiveness and acknowledges that high-quality public finance resource management is crucial;
Amendment 229 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the fact that the updated New European Industrial Strategy, the SME Strategy, the European Digital Strategy and all the other relevant strategies set out the framework for speeding up Europe’s recovery and transition towards a cleaner, more digital, and more resilient economic and industrial model, as well as for building a stronger and more resilient single market;
Amendment 237 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes that many Member States are suffering from structural challenges hindering their growth potential; Highlights that tackling structural challenges is crucial for a sustainable recovery and continued growth, and that implementing reforms to address structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges but also to accomplishing the twin transitions in a sustainable and fair manner;
Amendment 253 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. WishDeplores that the Commission hads not presented targeted and tailor -made CSRs for 2021, but instead ofhas proposed identical CSRs for all Member States, which; points out that more targeted CSRs could have focused on areas not covered by the scope of the RRF; notes that "one-size-fits-all" reform recommendations go against the very idea of country-specific reforms;
Amendment 259 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Recalls that Member States, in their recovery and resilience plans, are required to effectively address all or a significant subset of challenges identified in the relevant CSRs, including the fiscal aspects thereof, and; encourages the European Commission to make sure that this requirement is adhered to when scrutinising the RRPs and their implementation; notes that beyond the scope of the RRF, those recommendations that are not addressed remain valid and will continue to be monitored under the European Semester framework;
Amendment 283 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. RegDeplorets the fact that the Commission has not promoted fiscal CSRs that promote medium-term fiscal sustainability, despite the fact that the activation of the general escape clause obliges Member States not to endanger fiscal sustainability in the medium term; points out that safeguarding medium-term fiscal stability is one of the key challenges many Member States face;