15 Amendments of Engin EROGLU related to 2023/2064(INI)
Amendment 30 #
Motion for a resolution
Recital D
Recital D
D. whereas the ECB is politically independent, which means that neither EU institutions and agencies nor Member State governments should seek to influence it; stresses that this independence must remain untouched at all times; emphasises that this independence requires the ECB to refrain from taking political decisions;
Amendment 47 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the role of the ECB in safeguarding euroRecalls that the ECB is the institution responsible for maintaining price stability; underlines that the statutory independence of the ECB, as laid down in the Treaties, is a prerequisite for it to fulfil its mandate of maintaining price stability;
Amendment 95 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Highlights that not only do persistent 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 the upward price pressure following the implementation of the European Green Deal, the rise of fragmentation and protectionism in global trade, and an impending subsidy race between states;
Amendment 105 #
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; recalls that the Economic and Monetary Union requires solid fiscal policies in Member States in order to be able to respond to external shocks; 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;
Amendment 128 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Expresses its uneasiness with the persistently high rate of core inflation; understands that wage growth is expected to remain more than double its historical average, driven by inflation compensation and the tight labour market; warns of a wage-price spiral when inflation expectations and therefore wages are increasing extensively; encourages the ECB, furthermore, to look into and report on the inflationary effect of the green transition;
Amendment 134 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Points out that inflation already began rising above target levels in 2021, thus before Russia’s unprovoked aggression in Ukraine; deploregrets, however, that the ECB only started to tackle inflation in June 2022, even though the COVID-19 crisis proved that it is able to act in a timely manner; notes that other central banks acted more promptly;
Amendment 136 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Underlines the pivotal role of small and medium-sized enterprises (SMEs) in the EU's economy and economic and social convergence and employment; is especially concerned about the effect that the COVID-19 pandemic and the Russian war of aggression in Ukraine have on SMEs;
Amendment 139 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Fully supports President Lagarde’s statement on fighting inflation for as long as necessaryStresses that further measures must be taken to respond to the rising inflation; applauds President Lagarde’s plea for humility and to regularly update the ECB’s models; invites the ECB, however, to fundamentally review its models and their role in its policymaking;
Amendment 149 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. TrustNotes that the ECB will deliver on its mandate to safeguard price stability; notes that real interest rates are still negativereal interest rates are still negative; reminds that price stability is far from being reached;
Amendment 153 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Notes the inflation target level of 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 163 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Supports the ECB’s decision to scale back its asset-purchasing programmes, in view of the excess liquidity in the market; noteregrets the ECB’s announcement to decarbonise its corporate bond holdings by ‘tilting’ its portfolio, which violates the principle of market neutrality; stresses the importance of the quality of the collateral;
Amendment 203 #
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 cashinsists that the digital Euro must not replace cash as means of payment and must respect the privacy of citizens and businesses;
Amendment 210 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Reminds the ECB that Cash Payments are still a very important form of payments, and that it should not further reduce the amount of denominations in circulation;
Amendment 221 #
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. asks the ECB to draw up a proposal to make the allocation of voting rights on the ECB Governing Council more democratic, and recommends that votes be weighted according to shares in the capital of the ECB;
Amendment 237 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Invites the ECB to engage in a dialogue with national parliaments, while strictly respecting its political independence; believes that this would strengthen the legitimacy and policies of the ECB;