22 Amendments of Engin EROGLU related to 2020/2075(INI)
Amendment 60 #
Motion for a resolution
Paragraph 2
Paragraph 2
Amendment 70 #
Motion for a resolution
Paragraph 3
Paragraph 3
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;
Amendment 140 #
Motion for a resolution
Paragraph 8
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;
Amendment 147 #
Motion for a resolution
Paragraph 9
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;
Amendment 158 #
Motion for a resolution
Paragraph 10
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;
Amendment 171 #
Motion for a resolution
Paragraph 11
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;
Amendment 186 #
Motion for a resolution
Paragraph 12
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;
Amendment 196 #
Motion for a resolution
Paragraph 13
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;
Amendment 203 #
Motion for a resolution
Paragraph 13
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;
Amendment 208 #
Motion for a resolution
Paragraph 14
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;
Amendment 216 #
Motion for a resolution
Paragraph 15
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;
Amendment 241 #
Motion for a resolution
Paragraph 16
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;
Amendment 293 #
Motion for a resolution
Paragraph 22
Paragraph 22
Amendment 319 #
Motion for a resolution
Paragraph 23
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;
Amendment 323 #
Motion for a resolution
Paragraph 24
Paragraph 24
Amendment 334 #
Motion for a resolution
Paragraph 25
Paragraph 25
Amendment 373 #
Motion for a resolution
Paragraph 27
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;
Amendment 425 #
Motion for a resolution
Paragraph 33
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;
Amendment 427 #
Motion for a resolution
Paragraph 34
Paragraph 34
Amendment 447 #
Motion for a resolution
Paragraph 36
Paragraph 36
Amendment 457 #
Motion for a resolution
Paragraph 37
Paragraph 37