28 Amendments of Hélène LAPORTE related to 2020/2078(INI)
Amendment 7 #
Motion for a resolution
Citation 20
Citation 20
— having regard to the Commission’s Economic Forecast: Springummer 2020 of 6 Ma7 July 2020 (Institutional Paper 125),
Amendment 14 #
Motion for a resolution
Recital A
Recital A
A. whereas the national and regional lockdown measures in response to the COVID-19 pandemic isare causing an unprecedented and symmetric shock both for the EU and globallymost of the developed world, and its duration and its health, social and economic impact are not yet completely foreseeable;
Amendment 18 #
Motion for a resolution
Recital B
Recital B
B. whereas the shock is symmetrical but the impact varies considerably among Member States, reflecting the severity of the pandemic and the stringency of their containment measures, but alsoeconomic impact of the lockdown and confinement measures varies considerably among Member States, reflecting their specific economic exposures and initial conditions, including their available scope for discretionary fiscaleconomic policy responses;
Amendment 26 #
Motion for a resolution
Recital C
Recital C
C. whereas a determined, coordinated and solidarity-basedn effective and efficient European response ismay be essential to mitigate the negative economic and social consequences of the crisinational and regional lockdown measures and the further deepening of macroeconomic divergence;
Amendment 51 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes with great concern that, according to the Commission’s Springummer 2020 economic forecast, the EU is expected to suffer the deepest recession in its history in 2020, significantly worse than the projections in the Spring forecast, including a euro area contraction by 8.7%; notes that the recession is more limited in those EU Member States that still retain their monetary sovereignty;
Amendment 61 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Takes note of the comment of Commission Executive Vice-President Valdis Dombrovskis following the publication of the Summer Economic Forecast of 2020, that "the economic impact of the lockdown is more severe than we initially expected", which only further illustrates the cluelessness of the Commission in economic matters, especially crisis management;
Amendment 64 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Is concerned about the negative impact of the COVID-19 crisis on the globalEuropean economy, trade, consumer trust, income inequalities and poverty, as well as the risk of regulatory overreach, a more lenient approach to sovereign debt issues and debt-financing of national budgets, and the rise of mass surveillance;
Amendment 75 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Points out that the Commission’s estimate of the investment needs of the EU for delivering the green transition and digital transformation amounts to at least EUR 595 billion per year8 ; _________________ 8 Commission Staff Working Document - Identifying Europe's recovery needs, p. 16: https://ec.europa.eu/info/sites/info/files/eco nomy- finance/assessment_of_economic_and_inv estment_needs.pdf should shelve its Green Deal in the light of the COVID-19 crisis;
Amendment 82 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recognises that the EUMember States faces the unprecedented challenge of mitigating the social and economic consequences of the historic recession and setting the course for a rapidsustainable economic recovery linked to a sustainable and just transition and digital transformation; is convinced that, for this,based on equity and sound budgetary policies; warns that a significant increase in public and private investment compared to the 2010s is indispensable and that the increased level of investmentwill make the already unsustainable debt levels across many Member States even more problematic, and will increase market volatility; believes that an increased level of budgetary discipline must be stabilised for many years to come;
Amendment 99 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. WelcomDeplores the swift and strong responabuse tof the crisis in the area ofto further loosen monetary and fiscal policy, at both EU and Member State level, as well as the European Recovery Plan; considers it essential that the recovery package is fully aligned with the EU’s new growth strategy, i.e. in accordance with the principles of the European Green Deal (EGD), the European Pillar of Social Rights (EPSR) and the United Nations Sustainable Development Goals (SDGs), and with the aim to protect women’s rights and achieve gender equality; demands that funds and resources be directed to projects and beneficiaries that comply with our Treaty-based fundamental values and that recipient firms protect their workers, pay their fair share of taxes, and refrain from paying out dividends or offering share buy-back schemes aimed at remunerating shareholders and its proposed partial debt-financing; recalls that debt-financing is prohibited under article 311 TFEU;
Amendment 116 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. WelcomeRegrets the activation of the general escape clause of the Stability and Growth Pact, and expects that it will remain activated at least until the end of 2021 in order to support the efforts of the Member States toallow increased public spending and debt financing of the Member States, which will only increase market volatility; urges the Commission and the Member States to focus rather on sustainable recovery from the consequences of the lockdown measures following the pandemic crisis and strengthen their economic and social resilience;
Amendment 132 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Recalls the specific need to foster convergence within the euro areaprepare an orderly break-up of the euro area; calls on the Commission to prepare withdrawal scenarios for Member States to leave the euro area, including a proposal for a Treaty change to make it possible to expel Member States from the euro area, if they persistently cause economic problems to the eurozone as a whole;
Amendment 141 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Notes with concern that TARGET 2 imbalances are increasing, despite a narrowing in trade imbalances, indicating continued capital outflows from the euro area periphery; is especially worried about Italy´s TARGET 2 liabilities, which hit a new all-time high at € 537 billion;
Amendment 150 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. WelcomesTakes note of the conclusion of the European Fiscal Board (EFB)9 that the fiscal framework has to be revised, and is convinced that the deep economic crisis triggered by the lockdown measures following the pandemic further exacerbates this need; believes that the review and reform have to meet the above requirements in terms of increasing investment relating to climate change and digitalisation and stabilising the new level of investment, while ensuring sound budgetary management; _________________ 9EFB Annual report 2019, p. 71 - https:/ec.europa.eu/info/sites/infos/files/20 19-efb-annual-report_en.pdf
Amendment 158 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Is concerned about the significant but uneven negative impact of the lockdown measures following the COVID- 19 crisis on government deficit and private debt, which further aggravates the situation of Member States that are particularly affected by the pandemic and/or pre- existing high levels of government debt; calls for a solution that guarantees the sustainability of public debtmbitious cuts in public debt and for an ambitious overhaul of the debt- financing culture across the EU, if the common currency is to survive the next decade;
Amendment 163 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Considers it essential that the revision of the EU’s fiscal and economic policy framework should be completed by the time the escape clause is repealed and should enable fiscal policy to respond with discretion to shocks in the short term, and to reduce high public debt ratios to an agreed reference value in the long term, while allowing a sufficient level of public investment, progressive tax policies and the repayment of loans in a cycle- comfortable manner, andescape clause is repealed as soon as possible, and to reduce high public debt ratios to an absolute minimal value in the long- term modernisation of public commodities;
Amendment 178 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Urges the Commission to review the methodology for calculating estimates of potential output and the output gap used for the assessment of the cyclical component of the structural balance; is of the view that this methodology has proven to be inadequate and, over the years, has been shown to produce excessive, distorting and damaging restrictions on the spending capacity of states;
Amendment 183 #
Amendment 196 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Urges the Commission, in the possible revision of the Stability Pact, to ease the rules that have proven to be too restrictive and often punitive with regard to the public debt and deficit, by adapting the criteria and thresholds to the new economic and social context in Europe; stresses the negative impact excessive current-account surpluses in the balance of payments are having on the stability of the euro area economy;
Amendment 204 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. WelcomesTakes note of the refocus of the European Semester Spring Package aimed at providing an immediate economic policy response to tackle and mitigate the health and socio-economic impact of COVID-19 and reboot economic activity; supports the Commission’s announcement of a reform of the European Semester to convert it into a tool to coordinate the recovery measures, framed by the principles of the EGD, the EPSR and the SDGs; is convinced that this has to include the coordination of measures concerning state aid and tax policies; underlines the need for the integration of a new set of binding sustainability and wellbeing indicators and alternative measurements of growth performance;
Amendment 216 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Is concerned about the clear distortions of competition caused by the asymmetric volumes of state aid granted by Member States during economic crises, owing to different debt baselines; is of the view that the Commission's work on competition policy has been inadequate and damaging and has increased imbalances between EU economies; considers that it would be appropriate to conduct an in-depth assessment of the impact caused by the Commission's approach to competition and state aid;
Amendment 229 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recognises the role that the Commission has allotted to the European Semester in the Recovery Plan; notes, however, that the effectiveness and success of the alignment of Member States’ investment and reform programmes to the Semester process will depend on the progress of the Semester reform and the above-mentioned reform ofrespect for the Stability and Growth Pact;
Amendment 235 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Reiterates its call for the strengthening of Parliament’s democratic role in the economic governance framework in any upcoming TreatyWelcomes that the Commission change and, in the meantime, for an Interinstitutional Agreement on Sustainable European Governance granting Parliament a right of consent on the policy recommendations presented in the Annual Sustainable Growth Survey, the euro area fiscal package and thenot force Member States to comply with its Country Specific Recommendations;
Amendment 248 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Underlines that public revenues are essential to finance the post-pandemic recovery and the just transition to a sustainable economy; recalls that tax evasion and tax avoidance at EU level amount to up to EUR 160-190 billion each year, constituting missing revenues for the treasuries; underlines that this crisis should not be abused as an argument to increase taxation and public expenditure across Member States; regrets that civil society organisations, such as the Open Society Foundation, with an endowment of almost 20 billion US dollars, are still exempt from the transparency requirements under the Fifth Anti-Money Laundering Directive;
Amendment 259 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Invites the Commission to explore new policies suggested by international institutions that support and contribute to financing a just transition and sustainable growth, as well as aiming to restore Member States’ public finances; calls for the new basket of resources to include income stemming from EU policies favouring both the implementation of environmental protection and the preservation of a fair single market;
Amendment 267 #
Motion for a resolution
Paragraph 17
Paragraph 17
Amendment 277 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. considers extremely important to change the mandate of the ECB, placing as its first objective the full employment and subordinately the price stability, as well as widening its scope through the introduction of instruments necessary to correct the economic asymmetries among the Eurozone member countries;
Amendment 282 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17b. considers necessary to intervene in the banking regulation and supervision system, allowing greater flexibility in complying with the convergence criteria towards countries with low credit demand and applying the same criteria more rigorously in those with excess credit demand, also in order to avoid the excessive increase in inflation;