Activities of Werner LANGEN related to 2013/2076(INI)
Plenary speeches (1)
European Central Bank annual report for 2012 (debate)
Amendments (19)
Amendment 24 #
Motion for a resolution
Recital G a (new)
Recital G a (new)
Ga. whereas the Bank for International Settlements has noted in its Annual Report that, as a result of the low interest rate policy in the eurozone, reform efforts in the Member States have considerably slackened;
Amendment 52 #
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 56 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Considers that the three-year LTRO settled on March 2012 contributed to stabilising the banking system, but that this should be a temporary measure; notes that, despite the liquidity injected into the banking system by the LTRO, the credit available to the real economy is still below pre-crisis levels; suggests that it would be appropriate for the ECB to reduce its deposit facility rate to negative values in order to encourage banking lending to the real economy;
Amendment 90 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Welcomes the setting-up of the OMTs, with no ex ante quantitative limits, in order to safeguard monetary policy transmission, but deplorand welcomes the decision to link the activation of the OMT to strict conditionalities attached to an EFSF/ESM programme; calls on the ECB to activate OMTs independently from strict conditionality;
Amendment 101 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Considers unnecessary the full sterilisation of the liquidity injected by the OMTs, as inflation expectations remain extremely low in a context of weak economic activity to be necessary in order to maintain price stability in the eurozone in the medium and long term;
Amendment 109 #
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 116 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Considers that the monetary policy tools that the ECB has used since the beginning of the crisis, whil may have providing aed welcome relief in distressed financial markets, have revealed their limits as regards stimulating growth and improving the situation on the labour market; considers, therefore, that the ECB could investigate the possibilities of implementing new unconventional measures aimed at participating in a large, EU-wide pro- growth programme, including the use of the Emergency Liquidity Assistance facility to undertake an ‘overt money in the short term, but the easy money policy has done nothing to bring about a lasting economic recovery; considers, therefore, that the only way to promote growth is through sustainable economic policy and purposeful structural reforms, that the ECB must concentrate primarily on the goal of price stability, and that ECB financing’ of government debt in order to finance tax cuts targeted on low-income households and/or new spending programmes focused on the Europe 2020 objectives unlawful and must be prevented at all costs;
Amendment 120 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Welcomes the Annual Report of the Bank for International Settlements and its finding that an accommodative monetary policy has caused reform efforts in the eurozone to slacken and the dependence between banks and sovereigns has increased;
Amendment 137 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Considers it necessary to reviewEndorses the objective of maintaining price stability, which the ECB is called upon to pursue as a matter of priority, as is laid down in the Treaties and in the ECB’s statutes in order to establish price stability together with full employment as the two objectives, on an equal footing, of monetary policy in the eurozone, and stresses that monetary policy cannot be a substitute for necessary structural reforms and sustainable economic policy;
Amendment 147 #
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 156 #
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 170 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Underlines that the ECB’s independence should not justify lack of democratic accountabilityAs regards the performance of its monetary policy tasks, warns against calling the ECB’s independence into question;
Amendment 183 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls on the ECB to pay more attention to the euro exchange rate in order to avoid excessive euro appreciursue its prime goal – price stability – and prevent the euro from being sucked into competitive devaluation, which could in turn damage the eurozoneith other currencies;
Amendment 188 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Underlines the importance of supporting the euro as an international currency, and stresses the need to pave the way for a new international monetary order taking into account the new multipolar world economy;
Amendment 195 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Welcomes the progress achieved on the negotiations on the Single Supervisory Mechanism (SSM) regulation conferring on the ECB the power of supervision over eurozone credit institutions; believes the setting-up of the SSM will contribute to severing the link between banks and sovereigns and will help develop a common European approach to crisis management;
Amendment 206 #
Motion for a resolution
Paragraph 21
Paragraph 21
Amendment 216 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Considers it urgent to approve the establishment of a European Rframework for resolution Ssystems in order to protect taxpayers and depositors and prevent further banking crises;
Amendment 228 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. NotBelieves that in order to reduce risks and strengthen the stability of the banking system and avoid the development of the ‘too big to fail’ syndrome, consideration shcould be given to introducing a full separation between deposit and investment banks, on the lines of the ‘Volcker Rule’ in the US;
Amendment 237 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Is deeply concerned at the contempt shown by the Council towards Parliament’s resolution of 25 October 2012 on the appointment of a new Member of the executive board of the ECB, and notes that due consideration should be given to both the expertise and the gender of membeNotes that the expertise and the ability of members have to be the deciding factors in the appointment of ECB top management;