Activities of Sven SIMON related to 2023/2064(INI)
Plenary speeches (1)
European Central Bank – annual report 2023 (debate)
Shadow reports (1)
REPORT on the European Central Bank – annual report 2023
Amendments (13)
Amendment 27 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas Article 123 of the Treaty on the Functioning of the European Union prohibits monetary state financing;
Amendment 36 #
Motion for a resolution
Recital E
Recital E
E. whereas the ECB’s primary objective is to maintain price stability, which it has defined as symmetric 2 % inflation over the medium term;
Amendment 57 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Underlines that price stability is a prerequisite for the ECB to deliver on its mandate to support the EU’s general economic policies, such as the green and digital transitions; stresses that price stability is essential for attracting long term investments; furthermore, considers that maintaining price stability is a prerequisite for the implementation of the EU's other policy objectives;
Amendment 72 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Is deeply worried about the persistently high inflation rates, especially core inflation rates, and their detrimental impact on competitiveness, investments, job creation and the purchasing power of consumers; calls on the ECB to take all necessary measures to reduce the inflation rate in accordance with its mandate;
Amendment 78 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Expresses concern about the high levels of debt and government deficits within the Member States and the risks that this entails; noteregrets that the situation is worse in the euro area than in non-euro area Member Statesome Member States have taken insufficient steps to reform their competitiveness and fiscal capacity whilst interest rates were low; stresses its particular concern over the rising debt financing costs; looks forward to the outcome of the Commission’s legislative proposals on revising the EU’s economic governance rules and welcomes the ECB’s opinion in this regard;
Amendment 86 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Regretsiterates its condemnation of Russia’s ongoing aggression against Ukraine; agrees with member of the Executive Board Isabel Schnabel on the risk the war entails in terms of negative supply side shocks;
Amendment 92 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Highlights that not only dothreats to European competitiveness and the international role of the Euro do not only arise from persistently high levels of inflation, the ongoing war in Ukraine and high levels of debt in the Member States threaten the competitiveness of the European economy, and thus the international role of the euro as well, but also thebut also from upward price pressure following the implementation of the European Green Deal, the rise ofincreasingly burdensome costs of regulation and bureaucracy, the fragmentation and the rise of protectionism in global trade, and an impending subsidy race between states;
Amendment 98 #
7a. Stresses the need for comprehensive reforms on European and national level aimed at reducing the costs of bureaucracy as well as strengthening the EU’s competitive outlook to safeguard future growth and fiscal stability.
Amendment 106 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Echoes President Lagarde’s warning that fiscal support should be targeted and limited and should not hinder the task of monetary policy; points out that governments, as well as the Commission, can support citizens and industries not only through fiscal measures, but also by focusing on growth-enhancing reforms; notes, however, that the Eurozone's architecture has been designed on the premise of monetary dominance;
Amendment 159 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Notes the inflation target level of symmetric 2 % in the medium term; observes that inflation has, thus far, either been well below or far above this target level; questions the scientific evidence for this 2 % target level, as well as the meaning of ‘medium term’; invites the ECB to look into a more qualitative approach to price stability;
Amendment 171 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Notes that, the concept of market neutrality is related to the principle of an open market economy with free competition; deplores that the ECB has already deviated from market neutrality in several instances; calls on the ECB to respect the principle of market neutrality going forward;
Amendment 206 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Takes note of the ECB’s progress on the digital euro project and welcomes its dialogue with Parliament in this regard; reiterates that a digital euro must respect competition in the banking landscape, must not endanger the existence or use of cash and must respect the privacy of citizens and businesses; stresses that cultural difference between Member States regarding the importance of cash transactions must be respected;
Amendment 215 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Welcomes the Basel III framework, as it will strengthen the resilience of the banking sector; warns about the risk of non-compliance; notes that bank supervision should be risk-based and not guided by secondary considerations;