8 Amendments of Engin EROGLU related to 2020/2037(INI)
Amendment 7 #
Motion for a resolution
Citation 14 a (new)
Citation 14 a (new)
- having regard to ‘A Theory of Optimum Currency Areas’ by Robert Mundell,1a _________________ 1a https://www.jstor.org/stable/1812792?seq= 1
Amendment 69 #
Motion for a resolution
Recital J
Recital J
J. whereas while the wider use of an international currency bears privileges and gains, it also implies global responsibilities, and dependencies and costs;
Amendment 79 #
Motion for a resolution
Recital K a (new)
Recital K a (new)
Ka. whereas, under the theory of optimal currency areas, such regions have the advantages of increased transparency and decreasing transaction costs, but are constrained by a monetary policy that is less focused on addressing regional differences;
Amendment 83 #
Motion for a resolution
Recital K b (new)
Recital K b (new)
Kb. whereas the variables relevant for European monetary policy, such as economic growth, unemployment and consumer price trends, are very heterogeneous within the EU;
Amendment 94 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Points out that, in order for the potential benefits from the strengthened role of the euro to materialise, the Union has to complete the as yet unfinished infrastructure for the common currency and make more progress on its critical functions; adds, however, that too much heterogeneity in levels of competitiveness and economic development within the currency area belies risks and, therefore, that the euro should not be introduced precipitately into other countries;
Amendment 127 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Emphasises the need for sustainable and sound fiscal and structural growth- enhancing policies that are based on a commitment to credible fiscal rules; calls for further reflection on the adequacy of the stability and growth pact framework despite the challenging circumstances; supports the plan outlined in Next Generation EU to use, in addition to monetary policy, a fiscal impulse, notably borrowing EUR 750 billion from capital markets bonds to finance the recovery and green transition, in addition to the issuance of EUR 100 billion in ‘social’ bonds under the European instrument for temporary support to mitigate unemployment risks in an emergency (SURE), which is intended to preserve employment; applauds the high level of interest that investors have demonstrated in European bonds;
Amendment 147 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Highlights that an adequate supply of safe assets is a precondition for international currency status, and expresses its regret at the limited availability of euro- denominated safe assets; underlines, therefore, the need to create European safe assets; considers that the proposed issuance of a common debt to finance recovery will provide an EU-level reserve asset benchmark and increase the supply of euro-denominated safe assets; expects the ECB to conduct an assessment of the possibility of issuing certificates of deposit under its existing legal basinotes in this regard that the ECB holds large numbers of these bonds;
Amendment 212 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Stresses the role the ECB plays in maintaining trust in the euro and safeguarding monetary sovereignty; highlights that a currency that maintains a stable value over the long term fosters such trust; welcomes the prompt measures put in place by the ECB in order to cater for euro liquidity; underlines the prominence of swap arrangements and repo lines in enhancing the international role of the euro;