Activities of Agnès EVREN related to 2019/2129(INI)
Plenary speeches (1)
European Central Bank - annual report 2018 (debate)
Shadow reports (1)
REPORT on the European Central Bank Annual Report for 2018
Amendments (31)
Amendment 5 #
Motion for a resolution
Citation 4 a (new)
Citation 4 a (new)
– having regard to Article 130 of the Treaty on the Functioning of the European Union,
Amendment 6 #
Motion for a resolution
Citation 5
Citation 5
– having regard to Mario Draghi’s last Monetary Dialogue with the European Parliament as President of the European Central Bank, of 223 September 2019,
Amendment 7 #
Motion for a resolution
Citation 6 a (new)
Citation 6 a (new)
– having regard to the report from the G7 working group on stablecoins “Investigating the impact of global stablecoins” of 18 October 2019
Amendment 14 #
Motion for a resolution
Recital A
Recital A
A. whereas according to the Commission’s SummerAutumn 2019 Economic Forecast, the latest figures of 2019 reflect a slowdown from the higher levels of GDP growth in the euro area in 2018, from 1.9 % to 1.21 % in 2019, and in the EU-27, from 2.1 % in 2018 to 1.4 % in 2019, owing to a weaker impetus from external tradethe recent escalation in trade tensions and the corresponding uncertaintiesy;
Amendment 19 #
Motion for a resolution
Recital C
Recital C
C. whereas according to the Eurosystem staff macroeconomic projections of September 2019, annual inflation for the euro area in the Harmonised Index of Consumer Prices (HICP) looks set to reach 1.2 %, 1.0 % and 1.5 % respectively in 2019, 2020 and 2021, thus still falling short of the medium-term objective ofclose but below 2 %;
Amendment 25 #
Motion for a resolution
Recital D
Recital D
D. whereas at the end of 2018 the size of the Eurosystem balance sheet had reached an all-time high of EUR 4.7 trillion, an increase of 0.2 trillion4,25% compared with the end of 2017;
Amendment 29 #
Motion for a resolution
Recital F
Recital F
F. whereas a stronger international 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 approachand is a key element in safeguarding European economic sovereignty;
Amendment 36 #
Motion for a resolution
Recital G
Recital G
G. whereas the global issuance of green bonds has risen from less than EUR 1 billion in 2008 to more than EUR 120 billion in 2017 and euro-denominated net green bond issuance has increased ten- fold since 2013; whereas the gap between spreads of green bonds and those of the overall industrial sector have gradually closed;
Amendment 38 #
Motion for a resolution
Recital H
Recital H
H. whereas despite this positiveeuro denominated net green bond issuance has increased trendfold since 2013, green bonds still accounted for only 1 % of the overall supply of euro- denominated bonds;
Amendment 54 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the role of the ECB in safeguarding euro stability and stresses that the ECB’s independence is a requisiteHighlights that the statutory independence of the ECB, as laid down in the treaties, is crucial for the fulfillingment of its mandate of maintaining price stability;
Amendment 65 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Is concerned that after a short economic recovery, euro area growth momentum has slowed markedlydown to 1.2 % of GDP in the euro area and to 1.4 % of GDP for the EU-27; notes that Mario Draghi underlinesd, therefore, the need for monetary policy to remainto maintain favourable liquidity conditions and an ample degree of monetary accommodativeon for the foreseeable futureas long as necessary;
Amendment 76 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that fiscal policy is a necessary component for enhancing the impact of monetary policy and reducing possible side effects; notes therefore that in countries where public debt is high, governments need to pursue prudent policies that will create the conditions for automatic stabilisers to operate freely;
Amendment 90 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Underlines the findings of the ESCB expert group on low wage growth1 , which analysed the disconnect between wage growth and labour market recovery, namely that low wage growth over recent years can be explained mainly by technology and wage bargaining shocks, the latter being impacted by changes in wage bargaining structure – reducing the bargaining power of employees – and labour market regulations – mainly in countries most affected by the global economic and financialdebt crisis and the combination of labour underutilisation, low inflation readings and subdued productivity growth; _________________ 1ECB Occasional Paper Series No 232 / September 2019: Understanding low wage growth in the euro area and European countries. https://www.ecb.europa.eu/pub/pdf/scpops/ ecb.op232~4b89088255.en.pdf
Amendment 121 #
Motion for a resolution
Paragraph 5 – indent 4
Paragraph 5 – indent 4
Amendment 137 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Underlines that the asset purchase programme (APP) has provided a substantial contribution to economic recovery and the formation of households’ inflation expectations, has led to a substantialn improvement in financing conditions via several transmission channels, and has compressed yields across a wide range of asset classes; stresses, in particular, that the APP has directly improved credit conditions for the private non-financial sector with the asset- backed securities purchase programme (ABSPP) and the third covered bond purchase programme (CBPP3);
Amendment 145 #
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 programmenet purchases under the APP 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);
Amendment 154 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Notes the intention of the Governing Council of the ECB to continue reinvesting the principal payments from maturing securities for as long as necessary;
Amendment 169 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Underlines that very low or negative interest rates offer opportunities to consumers, companies including SMEs, workers and borrowers, who can benefit from stronger economic momentum, lower unemployment and lower borrowing costs; is however concerned at the consequences on individual savers and the financial equilibrium of pension and insurance scheme;
Amendment 178 #
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 206 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Recalls that, as an EU institution, the ECB is bound by the Paris Agreement on climate change and that this should be reflected in its policies, withhile fully respect foring its mandate and its independence;
Amendment 215 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Takes good note ofNotes Christine Lagarde’s declaration of 4 September 2019, in which she welcomed the ECB’s collaboration in the Network for Greening the Financial System (NGFS) and commitment to contribute to facing the challenges which climate change poses by implementing the NGFS’s recommendations and acting on them substantively wherever possible without undermining the ECB’s price stability mandate and other objectiveshelp identify and measure the financial system's exposure to climate related risks and foster a greener financial system wherever possible without undermining the ECB’s price stability mandate and other objectives; notes that the ECB is supporting the creation of a harmonised definition of green assets, i.e. a so-called taxonomy and will need, one such taxonomy is agreed, to assess whether and how it can apply it to its APP;
Amendment 220 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Welcomes the continuous efforts of the ECB to protect the environment and set strategic objectives and measures to support the achievement of EU targets;
Amendment 229 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls on the ECB to continue its preparatory efforts to ensure the stability of EU financial markets for all possible contingencies relating to Brexitthe withdrawal of the United Kingdom to the European Union;
Amendment 241 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Is extremely worriconcerned about the risks due to the delay in setting up the banking union, and calls for the swift completion of the banking union with a fully mutualised European deposit guarantee scheme;
Amendment 261 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls on the ECB to increase its monitoring of the development of crypto- currencieassets, including stablecoins and the increased risks in cyber-security and money laundering;
Amendment 263 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Welcomes the continuous efforts of the ECB to further strengthen its response and recovery capabilities in the event of a cyberattack on its own organisation;
Amendment 265 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls on the ECB to ensure an appropriate balance between allowing regulatory financial innovation in Fintech and ensuring financial stability;
Amendment 272 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Agrees with Christine Lagarde that a review of the ECB’s monetary policy framework is timely and warranted in order to ensure that the ECB has the right tools to deliver on its price stability mandate in the future; callreflections on the conduct and operational aspects of the ECB’s monetary policy are necessary to better support the general policies oin the ECB to organise a public consultation as part of this process in order to ensure that the review is open to input and feedback from a broad range of diverse civil society stakeholdersU without prejudice to its primary objective of maintaining price stability;
Amendment 280 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Calls on Christine Lagarde to commit to one of her priorities announced in her declaration of 4 September 2019 to reinforce the bridge with the public and to ensure that ECB’s decisions are being understood by the people whom it ultimately serves;
Amendment 291 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Welcomes the increase in accountability under the Presidency of Mario Draghi, and looks forward to even greatercontinued accountability, dialogue and openness with the incoming President, and to keep this strong link;
Amendment 298 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Recalls that the nominations of Executive Board members should be prepared carefully, with full transparency and together with Parliament in line with the Treaties; calls on the Council to draw up a gender-balanced shortlist for all current and upcoming vacancies and to share it with Parliament, thus allowing it to play a more meaningful advisory role in the appointment process; regrets that to date no satisfactory progress has been made;