42 Amendments of Markus FERBER related to 2022/2150(INI)
Amendment 2 #
Motion for a resolution
Citation 5
Citation 5
Amendment 3 #
Motion for a resolution
Citation 18
Citation 18
Amendment 4 #
Motion for a resolution
Citation 19
Citation 19
Amendment 5 #
Motion for a resolution
Citation 28
Citation 28
Amendment 8 #
Motion for a resolution
Recital B
Recital B
Amendment 23 #
Motion for a resolution
Recital D
Recital D
D. whereas according to the Commission’s autumn forecast, the debt- to-GDP ratio is expected to fall to 86 % in the EU at the end of 2022 (94 % in the euro area) from the historically high level of 91.5 % recorded in 2020 (99 % in the euro area); whereas the debt-to-GDP ratio is expected to decline marginally in the EU to around 85 % in 2023 and 84 % in 2024 (92 % and 91 % in the euro area); whereas this is significantly above the reference value of 60%;
Amendment 27 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. wheras Member States deficit is forecasted to come in at 3.4% in the EU and 3.5% in the Euro area in 2022; whereas the defict is expected to increase to 3.6% in the EU and 3.7% in the Euro area; whereas this is significantly above the reference value of 3%;
Amendment 28 #
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. 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 29 #
Motion for a resolution
Recital D c (new)
Recital D c (new)
D c. whereas high debt-to-GDP levels in certain Member States combined with rising refinancing costs raise significant doubts in relation to their long-term debt sustainability;
Amendment 30 #
Motion for a resolution
Recital D d (new)
Recital D d (new)
Amendment 39 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Is concerned that the EU is one of the most exposed advanced economies to downward risks, given its geographical proximity to Ukraine and heavy reliance on gas imports from Russia; notes that the impact of high energy prices and inflationinflation, and in particular high energy prices, leads to the erosion of household purchasing power; highlights that a reduction in aggregate demand, combined with less favourable financing conditions, could lead to a sharp decline in investment and therefore inthe inflation rate towards target level, while potentially painful in the short run, will create the preconditions for long-term sustainable economic growth;
Amendment 48 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Notes that some Member States have suffered from structurally low growth levels even before the pandemic and the recent energy crisis;
Amendment 49 #
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Agrees with the Commission's observation that deteriorating economic conditions have increased vulnerabilities and risks associated with pre-existing imbalances, and new imbalances may emerge1a; _________________ 1a Annual Sustainable Growth Survey 2023, part 2.4
Amendment 56 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that while the primary objective of the European Central Bank (ECB) is to maintain price stability, the primary objective of the Union as a whole should be to minimise the impact of current turbulences on the real economy, thereby defending the wellbeing of its citizens and preserving its production structure and the international competitiveness of its companies; underlines, in this regard, the importance of adequate and coordinated fiscal, structural and regulatory policies that complement the ECB’s monetary policy actions, which are also capable of supporting household incomes and providing targeted support to companies suffering from supply bottlenecks and high energy costs; underlines, in this regard, the importance of adequate and coordinated fiscal, structural and regulatory policies that complement the ECB’s monetary policy actions to bring down inflation; shares ECB President Lagarde's consideration that all supportive fiscal policy measures must be temporary, targeted and tailored in order not to furter spur inflation;
Amendment 66 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Notes with concern the Commission's analysis that 70% of the measures introduced by Member States to cushion the economic and social impact of the exceptional increase in energy prices were not focused on vulnerable households and exposed firms and two thirds of them did not provide incentives to reduce energy demand;1a _________________ 1a Annual Sustainable Growth Survey 2023, part 2.4, p. 14
Amendment 68 #
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2 b. Stresses that a rising rate- environment puts considerable pressure on highly indebted Member States;
Amendment 70 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Observes the sizeable impact of the NextGenerationEU (NGEU) instrument as estimated by the Commission, the ECB and the International Monetary Fund, in particular an increase in GDP growth of up to 1.5 % higher than without NGEU investment if the instrument is implemented effectively; notes that a key channel for the effectiveness of NGEU is the implementation of the reform component in order to increase the long- term potential output levels of EU Member States;
Amendment 77 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Notes that high aggregated debt levels are not only a consequence of the Covid-19 crisis or the energy cost crisis, but also a consequence of lax fiscal policies over the past years and poor enforcement of the EU's fiscal rules;
Amendment 78 #
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. Agrees with the Commission's observation that strengthening EU competitiveness and its long-term potential for sustainable growth remain key for economic prosperity and social welfare1a; _________________ 1a Annual Sustainable Growth Survey 2023, part. 2.2
Amendment 80 #
Motion for a resolution
Paragraph 3 d (new)
Paragraph 3 d (new)
3 d. Concurs with the Commission's recommendation that fiscal policies should aim at achieving prudent medium- term fiscal positions and ensuring fiscal sustainability through gradual consolidation and investment and reforms enhancing sustainable growth;1a _________________ 1a Annual Sustainable Growth Survey 2023, part. 2.4, p. 15
Amendment 81 #
Motion for a resolution
Paragraph 3 e (new)
Paragraph 3 e (new)
Amendment 82 #
Motion for a resolution
Paragraph 3 f (new)
Paragraph 3 f (new)
3 f. Concurs with the analysis of the European Fiscal Board that the continued suspension of the SGP is creating a harmful vacuum and calls for an urgent review of the EU fiscal framework1a; highlights the European Fiscal Boards observation that the de facto suspension of EU fiscal rules is undermining sound fiscal policy making in the EU and that the reduced attention to the medium term and expenditure dynamics in very-high debt countries are a matter of concern; _________________ 1a European Fiscal Board. Annual Report 2022. p. 5-6.
Amendment 84 #
Motion for a resolution
Paragraph 3 c (new)
Paragraph 3 c (new)
3 c. Concurs with the Commisison's conclusion that a broad-based fiscal impulse to the economy would not be appropriate in 2023 and that a careful, coordinated approach is necessary for designing measures in response to energy price developments;1a _________________ 1a Annual Sustainable Growth Survey 2023, part. 2.4, p. 14
Amendment 87 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls that the European Semester for Economic Policy Coordination is a well-established framework for coordinating the budgetary, economic, social and employment policies across the European Union;
Amendment 94 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. RecallWelcomes the close link between the European Semester and the implementation of the RRF, whereby the national recovery and resilience plans (NRRPs) are expected to contribute effectively to addressing all or a significant subset of the challenges identified in the relevant country-specific recommendations addressed to each Member State in the context of the European Semester;
Amendment 96 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Encourages the European Commission to make sure that this requirement is adhered to when scrutinising the implementation of national recovery plans; 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 102 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Highlights the key role being played by the NRRPs in driving the Member States’ reform and investment agendas; recalls the importance of reforms in bolstering the recovery and, future productivity growth and as enablers of investment; stresses the crucial role of investments in boosting growthcompetitiveness; stresses that investments will only have a long-term effect if the reform agenda is properly implemented;
Amendment 106 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. 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 107 #
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Highlights that reforms remain essential to strengthen the EU’s economic base, promote business creation and entrepreneurship and strengthen the Union's competitiveness, productivity and overall growth potential;
Amendment 113 #
Motion for a resolution
Paragraph 7 – point a
Paragraph 7 – point a
(a) the six-pillar structure, ensuring that Member States give adequate consideration in their reform and investment agendas to all the relevant dimensions for making EU economies and societies more prosperous, sustainable, inclusive, competitive and resilient;national ownership
Amendment 118 #
Motion for a resolution
Paragraph 7 – point b
Paragraph 7 – point b
(b) thorough monitoring by the European Parliament, ensuring the open, transparent and democratic scrutiny of the RRF’s implementationclear incentives to follow through with the reform agenda;
Amendment 120 #
Motion for a resolution
Paragraph 7 – subparagraph 1
Paragraph 7 – subparagraph 1
Amendment 128 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Highlights the essentialNotes the temporary role played by the RRF in equipping the Union with the tools needed to successfully face theadressing global challenges stemming from the green transition and the digital transformation of the economy, along with the implementation of the European Pillar of Social Rights; 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 130 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Points out 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 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; notes that the growth of 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, creating a permanent burden on public finances and having a negative effect on inflation trends;
Amendment 138 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the publication of the Commission’s communication on orientations for a reform of the EU economic governance framework; expresses concern about its delay; stresses the need to adopt legislative proposals before time runs out and the general escape clause is removed and the current legislature comes to an end;
Amendment 145 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Agrees withTakes note of the Commission’s orientations as regard the simplification of the framework, differences in Member States’ debt reduction paths, the use of a comprehensive debt sustainability analysis and the general escape clauses; points out, however, that some of the tools suggested by the Commission might make the process of economic governance more opaque;
Amendment 157 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Welcomes the choice of net primary expenditure as single operational indicator; nots that this indicator being anchored on debt sustainability could help the framework to become both more transparent and easier to manage;
Amendment 163 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Notes the aim to stimulate investment and reforms byat due to different starting points the Commissions suggests to allowing Member States to have different debt reduction paths, provided that these enhance growth, improve debt sustainability and are in line with the EU’s objectives,; in particular those of the green and digital transition and social resiliencs concerned that the medium- term focus suggested by the Commission might result in necessary fiscal consolidation efforts being pushed too far back in time;
Amendment 182 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Welcomes that the Commission recognises the need to reinforce the enforcement mechanisms by relying on a broader set of sanctions;
Amendment 183 #
Motion for a resolution
Paragraph 11 b (new)
Paragraph 11 b (new)
11 b. Welcomes the Commission's statement that independent fiscal institutions should play an important role in the economic governance process; invites the Commission to further clarify this role and elevate the mandate and role of the European Fiscal Board;
Amendment 192 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that while monetary policy is conceived and designed as a single instrument, the overall fiscal policy is the result of aggregating 19 individual fiscal policies; underlines that, apart from the recommendation on the economic policy of the euro area, coordination of actions has thus far been limited and the situation and challenges of the euro area have not been easy to factor in; highlights that it is still largely random if the aggregation of national fiscal policies results in a euro area fiscal stance which is appropriate and consistent with monetary policy; regrets that the Commission’s communication does not encompass rules ; calls on the European Commission to do more to encourage better fiscal coor dinstruments that allow for the management ofation; notes that the eEuro area fiscal stancepean Fiscal Board could help in supporting this process;
Amendment 197 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. WelcomNotes that lessons have been learned from the RRF process by promoting more ownership of ways of putting Member States in charge of designing their own national plans combining fiscal, reform and investment commitments within a common EU framework; greatly regrets that, unlike the RRF, the European Parliament is excluded from defining the overarching goals, guidance, criteria for the debt reduction path, investments, reforms and the underlying assumptions on which the comprehensive debt sustainability analysis is based; regrets that neither the involvement of national parliaments nor that of national stakeholders and civil society is mentioned under project design, implementation or subsequent scrutiny, which sets back ownership and democratic accountability; notes, however, that a one-off recovery instrument has different objectives than the regular economic governance framework and that procedures cannot simply copied and pasted from the RRF process to the economic governance framework;