BETA

22 Amendments of Engin EROGLU related to 2020/2075(INI)

Amendment 60 #
Motion for a resolution
Paragraph 2
2. Agrees with the European Fiscal Board (EFB) on the importance of having a clear pathway towards a reformed fiscal framework prior to the deactivation of the GEC;deleted
2021/04/23
Committee: ECON
Amendment 70 #
Motion for a resolution
Paragraph 3
3. Calls on the Commission to put forward guidelines for a transition period until the new fiscal framework is in place, during which time no excessive deficit procedure should be activated and with the possibility to use the ‘unusual event clause’ on a country-specific basis to prevent premature fiscal consolidation;deleted
2021/04/23
Committee: ECON
Amendment 77 #
4. Considers that economic indicators and adjustment paths need to be interpreted cautiously, and therefore calls for the code of conduct of the Stability and Growth Pact to be revised vis-à-vis the benchmarks needed to calculate such adjustment needs and paths; stresses that fiscal guidance should avoid pro-cyclical biases, promote upward convergence and counteract macroeconomic imbalances; calls for special accounting treatment for loans from Next Generation EU (NGEU) related spendingfiscal guidance must avoid pro-cyclical biases and counteract macroeconomic imbalances;
2021/04/23
Committee: ECON
Amendment 140 #
Motion for a resolution
Paragraph 8
8. Stresses the importance of complementarity between monetary and fiscal policies to deliver the required support post-COVID-19; considers that the low interest rate environment has implications for fiscal policy; warns against a premature tightening of monetary and fiscal policypotential risks of inflation should monetary policy remain lax for too long;
2021/04/23
Committee: ECON
Amendment 147 #
Motion for a resolution
Paragraph 9
9. Underlines that structural factors are likely to keep rates low in the long terminterest rate trends are primarily driven by the independent central bank; considers that macroeconomic policies should address the factors underlying secular stagnation; stresses that, to this end, more flexible labour markets, digitalisation and related productivity improvements are essential; regards the high government spending ratio as a reason for low growth in the EU;
2021/04/23
Committee: ECON
Amendment 158 #
Motion for a resolution
Paragraph 10
10. Calls for an appropriate fiscal and monetary policy mix that work together towards achieving the EU’s objectives, where monetary policy must primarily pursue the objective of a stable currency;
2021/04/23
Committee: ECON
Amendment 171 #
Motion for a resolution
Paragraph 11
11. Highlights that debt levels have increased and that some Member States already have a sizeable debt legacy; notes that circumstances have changed since the Maastricht criteria were defined and that inflation and interest rate levels are considerably lowerregards this high level of indebtedness as a violation of the principle of intergenerational fairness, and notes that the Maastricht criteria constitute a key promise to EU citizens without which a single currency would not be accepted;
2021/04/23
Committee: ECON
Amendment 186 #
Motion for a resolution
Paragraph 12
12. Stresses that debt service costs are expected to remain low for the foreseeable future andcurrently low and that primary deficits are likely to be offset by favourable interest- growth differentials; further considers that as long as the differentials are negative it is possible to sustain and progressively reduce high debt levelshigh debt levels must be rapidly reduced as soon as the pandemic is over;
2021/04/23
Committee: ECON
Amendment 196 #
Motion for a resolution
Paragraph 13
13. Recalls the importance of growth- enhancing policies and public investment aimed at increasing growth potential and achieving the EU’s objectives; underlines, in this context, that incentives provided by the EU influence the decisions of the Member States; points out, in this connection, that transfer mechanisms within the EU reward debt and are therefore not conducive to the ultimate goal;
2021/04/23
Committee: ECON
Amendment 203 #
Motion for a resolution
Paragraph 13
13. Recalls the importance of growth- enhancing policies and public and private investment aimed at increasing growth potential and achieving the EU’s objectives;
2021/04/23
Committee: ECON
Amendment 208 #
Motion for a resolution
Paragraph 14
14. Stresses the importance of pursuing a broad and transparent DSA in order to set an appropriate country-specific path, using innovative tools and techniques such as stress tests and stochastic analysis to better reflect risks to public debt dynamics; recalls that the path towards a sustainable budget must lead through a reduction in public spending;
2021/04/23
Committee: ECON
Amendment 216 #
Motion for a resolution
Paragraph 15
15. Calls on the Commission to relaunch the debate on the reform of the economic governance of the Union with a view to coming forward with a legislative proposal by the end of 2021; calls for a rethink of EU fiscal rules, also in view of the legacies of the pandemic, and supports the EFB’s conclusion that the fiscal framework has to be adapted;
2021/04/23
Committee: ECON
Amendment 241 #
Motion for a resolution
Paragraph 16
16. Calls for the renewed fiscal framework to promote sustainability and cyclical stabilisation and to improve the quality of public expenditure through sustainable investments and reforms; calls for well-defined, transparent, simple, flexible and enforceable rules embedded in a credible and democratic framework that take into ac, recalls, in this count the specificities of Member States and promote upward economic and social convergenceext, that such rules are only credible if the EU and the Member States also adhere to existing rules such as the Maastricht criteria;
2021/04/23
Committee: ECON
Amendment 293 #
Motion for a resolution
Paragraph 22
22. Shares the EFB’s opinion that sustainable growth-enhancing public investments should be exempt from the expenditure rule, in particular those investments that are aligned with the EU’s long-term objectives of the NGEU;deleted
2021/04/23
Committee: ECON
Amendment 319 #
Motion for a resolution
Paragraph 23
23. Stresses that on the one hand governments’ revenues are essential to guarantee the sustainability of public finances; calls on the Member States to take action to tackle tax fraud, tax avoidance, and tax evasion, as well as money laundering; emphasises on the other hand that, even before the Covid crisis, government spending ratios in the EU were very high by international standards, and points out that this is an indication that Member States do not have a revenue problem but a spending problem that needs to be addressed in the aftermath of the Covid crisis;
2021/04/23
Committee: ECON
Amendment 323 #
Motion for a resolution
Paragraph 24
24. Agrees with the opinion of the EFB and others21 that a deepening of the Economic and Monetary Union (EMU) would be helped by a central fiscal capacity, which could help cushion idiosyncratic shocks, whether common or country-specific, in a timely manner; _________________ 21 International Monetary Fund and the European Central Bank.deleted
2021/04/23
Committee: ECON
Amendment 334 #
Motion for a resolution
Paragraph 25
25. Welcomes the creation of the NGEU, which is financed through debt issuance guaranteed by the EU budget; underlines that EU-issuance debt22will provide a new supply of European high- quality assets, which is a step towards a permanent EU safe asset; _________________ 22deleted NGEU & SURE bonds.
2021/04/23
Committee: ECON
Amendment 373 #
Motion for a resolution
Paragraph 27
27. Calls for the MIP to be reformed to make its indicators and recommendations more forward-looking and symmetrical with regard to over- and undershooting target values, and to focus on indicators under the control of policymakers and geared towards reducing intra-euro area imbalances; considers that greater compliance with pared-back recommendationsthe recommendations should be ambitious, that greater compliance must be achieved and that MIP-relevant country-specific recommendations should focus on policy actions that can have a direct impact on imbalances;
2021/04/23
Committee: ECON
Amendment 425 #
Motion for a resolution
Paragraph 33
33. Underlines that for better enforcement the right balance should be sought between peer support, peer pressure, financial benefits and financial consequencautonomy of decision and responsibility for decisions taken must be in the same hands and that transfers within the EU therefore limit the autonomy of decision of the receiving Member States;
2021/04/23
Committee: ECON
Amendment 427 #
Motion for a resolution
Paragraph 34
34. Recalls its position23 that an ‘additional budgetary capacity for the euro area’ should be included in the fiscal capacity; _________________ 23European Parliament resolution of 16 February 2017 on budgetary capacity for the euro area, OJ C 252, 18.7.2018, p. 235.deleted
2021/04/23
Committee: ECON
Amendment 447 #
Motion for a resolution
Paragraph 36
36. Calls for the Eurogroup’s decision-making process to be reassessed to include appropriate democratic accountability; calls for the Chair of the Eurogroup to be one of the Commission Vice-Presidents;deleted
2021/04/23
Committee: ECON
Amendment 457 #
Motion for a resolution
Paragraph 37
37. Recalls its call for the ESM to be integrated into EU law under the Community method;deleted
2021/04/23
Committee: ECON