15 Amendments of Olivier CHASTEL related to 2019/2129(INI)
Amendment 27 #
Motion for a resolution
Recital F
Recital F
F. whereas a stronger role of the euro, and its increased use as a reserve currency, would increase the EU’s ability to frame its policy stance independently vis-à-vis the US and the Federal Reserve and would ultimately provide protection from the risk of an uncooperative US approach;
Amendment 104 #
Motion for a resolution
Paragraph 5 – indent 1
Paragraph 5 – indent 1
- The deepening of the European Monetary Union, including a fiscal capacity for the euro area able to providinge a counter-cyclical stabilisation function whilst ensuring that Member States follow a sound budgetary policy;
Amendment 113 #
Motion for a resolution
Paragraph 5 – indent 2
Paragraph 5 – indent 2
- The completion of the banking union, including a fully mutualised European deposit Reinsurance scheme setup with the appropriate safeguards, that would help reduce risks, ensure a level playing field, promote fair competition, facilitate the expansion of pan-European banking and reinforce the stability of the euro area as a whole;
Amendment 118 #
Motion for a resolution
Paragraph 5 – indent 3 a (new)
Paragraph 5 – indent 3 a (new)
- The respect of a market-driven economy that refrains from protectionism;
Amendment 119 #
Motion for a resolution
Paragraph 5 – indent 3 b (new)
Paragraph 5 – indent 3 b (new)
- The respect of the rule of law;
Amendment 126 #
Motion for a resolution
Paragraph 5 – indent 4
Paragraph 5 – indent 4
- The market-led creation of a European safe asset guaranteed by euro-area Member States to foster the integration of bond marketthrough the reform of the regulatory treatment of sovereign exposures;
Amendment 144 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Notes that on 12 September 2019 the ECB announced a broad stimulus package including an open-ended quantitative easing programme that will run at a monthly pace of EUR 20 billion per month, a cut of 10 basis points in the deposit rate, a two-tier system for reserve remuneration, and easier terms for targeted longer-term refinancing operations (TLTRO-III); is concerned about the fact that the ECB Governing Council's decision was not taken unanimously and calls on President Lagarde to work towards bridging this divide;
Amendment 161 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Notes that the negative effects on banks’ net interest income have been largely counterbalanced so far by the benefits from more bank lending and lower costs for provisions and losses;
Amendment 171 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Underlines that while very low or negative interest rates offer opportunities to consumers, workers and borrowers, who can benefit from stronger economic momentum, lower unemployment and lower borrowing costs, it is being perceived in certain Member States as creating problems for small savers and pension systems;
Amendment 189 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Is concerned about the prolonged subdued inflationary pressure, the overreliance on the ECB’s monetary policy to sustain growth and its increasingly limited options under its current toolbox;
Amendment 193 #
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
Amendment 196 #
Motion for a resolution
Paragraph 10 c (new)
Paragraph 10 c (new)
10c. Underlines the importance of cooperation between central banks, both in the European Union and at a global level, for the achievement of the inflation targets in the medium term;
Amendment 216 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Takes good note of Christine Lagarde’s declaration of 4 September, in which she welcomed the ECB’s collaboration in the Network for Greening the Financial System (NGFS) and commitment to contribute to facinge the challenges which climate change poses by implementing the NGFS’s recommendations and acting oin them substantively wherever possible without underminingfull respect of the ECB’s price stability mandate and other objectives;
Amendment 260 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls on the ECB to increase its monitoring of the development of crypto- currencies and the increased risks in cyber-securirisks in cyber-security and the development of crypto-assets, especially those that are privately managed, given the challenges they pose to the European Union's monetary sovereignty;
Amendment 266 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls on the ECB to ensure an appropriate balance between allowingppropriate regulatory constraints, allowing financial innovation in Fintech and ensuring financial stability;