2051 Amendments of Margarida MARQUES
Amendment 202 #
2023/2114(INI)
Motion for a resolution
Recital K
Recital K
K. whereas enlargement is also a major challenge for EU’s financial sustainability, in particular regarding cohesion and agriculture policies; whereas the current and the nex as well as other EU programs and EU-wide solutions; whereas many of the shortcomings and inadequacies in the current mMultiannual fFinancial fFrameworks should be strength are inherent in its logic and design, where predictability of spending drives decisions on structure and amounts and curbs flexibility; whereas there has been a gradual decrease of the EU budget as a percentage of EU gross national income (GNI) and an excessive focus on capping overall spending at roughly 1 % of EU GNI; whereas this has prevented considerablythe Union from delivering on its agreed political ambitions and deprived it of the ability to respond swiftly to crises and emerging needs; whereas the current and the next multiannual financial framework should be properly constructed and significantly strengthened to enable EU enlargement; whereas this financial groundwork must be in place before enlargement takes place;
Amendment 445 #
2023/2114(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Stresses that enlargement is a major financial challenge for the EU, in particular regarding cohesion and agriculture policies as well as other EU programs and EU- wide solutions; point out that this challenge cannot be met without a larger EU budget andproperly constructed and funded MFF so that the design of the EU budget enables the Union to take on new tasks and functions while continuing to deliver on agreed programmes and political priorities; further stresses that sufficient new own resources are needed to meet enlargement challenge; notes that thisenlargement adds to other growing demands on EU funding in the fields of financial stability, strategic autonomy, health, energy, decarbonisation, digital, research and defence and security; expects the trend towards a more diversified EU expenditure landscape to continue as the scope and depth of EU cooperation progresses; underlines that such financial reforms must be discussed in parallel with the ongoing accession negotiations and adopted before enlargement takes place; defends its position that the current and future multiannual financial frameworks should be strengthened considerably to enable EU enlargement, architecture should be properly constructed and the funding significantly strengthened to enable EU enlargement, without endangering other EU programmes and political priorities and that this financial groundwork must be in place before enlargement takes place;
Amendment 1 #
2023/2107(INI)
Draft opinion
Recital A
Recital A
A. whereas Japan is the EU’s closest partner in the Indo-Pacific region; whereas in 2022, the EU was Japan’s third largest trading partner, while Japan was the EU’s eighth largest trading partner; whereas together the EU and Japan account for almost a quarter of the world’s gross domestic product;
Amendment 2 #
2023/2107(INI)
Draft opinion
Recital A a (new)
Recital A a (new)
Aa. whereas the EU-Japan Economic Partnership Agreement entered into force on 1 February 2019; whereas bilateral trade flows caught up to pre-pandemic levels in 2021 (EUR 124 billion) and in 2022 bilateral trade flows increased by 13.4% to EUR 140.6 billion in goods; whereas in 2022, EU exports to Japan amounted to EUR 71.5 billion in goods and EUR 35.4 billion in services;
Amendment 6 #
2023/2107(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Highlights that the EU-Japan Economic Partnership Agreement (EPA) that entered into force on 1 February 2019, is a landmark trade agreement benefittis a landmark trade agreement that goes beyond trade, strengthening bnoth only economies; underlines that since then, bilateral trade in goods and services between the EU and Japan has increased, with a positive trade balance for the EUc ties, but also consolidating bilateral cooperation at a global level, which is based on democratic values, the rule of law, free and fair trade, sustainable development, as well as a rules-based multilateral world order;
Amendment 7 #
2023/2107(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Welcomes that since the entry into force of the EPA, bilateral trade in goods and services between the EU and Japan has increased, with a positive trade balance for the EU; welcomes the results after four years of the Economic Partnership Agreement between the EU and Japan, with an increase of 14,9 % of EU exports of good in 2022 over the previous year and an increase of 11,9 % of EU imports of good in the same period;
Amendment 9 #
2023/2107(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Acknowledges that simplified procedures for obtaining tariff preferences and strong rules of origin have facilitated exports from EU companies and small and medium-sized enterprises to Japan; calls on the Commission to continue its outreach events to enable smaller companies to access information and benefit from the agreement;
Amendment 10 #
2023/2107(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Recognises that the EPA has opened new markets for several agri-food sectors, including for fruits, vegetables, meat and wine, resulting in an increase of more than 30 % in EU agri-food exports to Japan since 2018; calls for further cooperation with Japan on the sustainability of global food systems, also taking into account that, in July 2023, the EU fully lifted the import restrictions for food in place following the 2011 Great East Japan earthquake;
Amendment 14 #
2023/2107(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Welcomes the ongoing work towards the extension of the list of geographical indications protecAsks the Commission to accelerate the remaining work for the third amendment to the list of geographical indications annexed to the EPA , bringing us closer to the protection of 300 geographical indications; highlights that the extension of geographical indications so far agreed by the EU and Japan is unprecedented uander the EPA believes it is an important step forward in the protection of EU geographical indications at the global level;
Amendment 18 #
2023/2107(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Recalls the importance ofUnderlines that the implementingation of the EPA fully and effectively, includinghas overall been smooth and successful but demands further progress in the areas of government procurement to ensure transparency, and in the implementation of sanitary and phytosanitary (SPS) commitments to speed up and simplify import procedures;
Amendment 21 #
2023/2107(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
Amendment 24 #
2023/2107(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Welcomes the progress made since the EU-Japan Summit 2023 on SPS import procedures, especially on the project for mutual recognition of zoning in the area of animal health;
Amendment 25 #
2023/2107(INI)
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5c. Calls on both parties to enhance regulatory cooperation in the fields of green technologies, notably on offshore wind power and renewable hydrogen, stepping up joint work on the energy and green transitions under the EU-Japan Green Alliance; welcomes the signature of a memorandum of cooperation on hydrogen to help establish a rules-based and transparent global hydrogen market;
Amendment 27 #
2023/2107(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Welcomes the negotiations on data flows under the EPA provided that these provisions will properly protectUnderlines the need to complete the EPA with provisions ensuring the free flow of data; welcomes the negotiations on data flows under the EPA and calls on both parties to agree on modern digital trade rules that preserve the high level of personal data and privacy protection in the EU;
Amendment 30 #
2023/2107(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Welcomes the launch of the EU- Japan digital partnership to advance cooperation on digital issues; welcomes, in this regard, the conclusion of the digital trade principles and the signature of the memorandum of cooperation on semiconductors, promoting a human-centric digital transformation based on democratic principles; welcomes, in this regard, the conclusion of the digital trade principles, covering data governance, digital trade facilitation as well as consumer and business trust, and the signature of the memorandum of cooperation on semiconductors, which namely foresees an early warning mechanism of critical disruptions in the semiconductors supply chain;
Amendment 33 #
2023/2107(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Stresses that the EU has a new approach to trade and sustainable development, which includes the possibility of sanctions as a last resort in cases of serious violations of the Paris Agreement and the core International Labour Organization (ILO) standards; believes that the Economic Partnership Agreement should be a ‘living agreement’ and calls on both parties to find ways to implement a number of innovative sustainable elements into the trade agreement;
Amendment 35 #
2023/2107(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Welcomes the Japanese ratification of the fundamental ILO convention on the Abolition of Forced Labour (No. 105); encourages Japan to continue the works towards the ratification of the remaining ILO core convention on Discrimination in respect of Employment and Occupation(No. 111);
Amendment 37 #
2023/2107(INI)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Stresses the important role of civil society organisations and the domestic advisory groups in the monitoring and implementation of the agreement; asks Japan to develop ways of participation of civil society in the dialogue around the Trade and Sustainable Development provisions of the EPA; calls for closer cooperation between the EU and Japan domestic advisory groups and expects that their views on sustainability issues are taken into account in the government-to- government consultations provided in the agreement;
Amendment 38 #
2023/2107(INI)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Takes note that the negotiations for an agreement on the protection of investment are stalled and recalls the European Parliament resolution of June 2022 on the future of EU International Investment policy;
Amendment 39 #
2023/2107(INI)
Draft opinion
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Calls on both parties to continue to pursue a full and effective implementation of the EPA, strengthening the resilience of bilateral trade and investment relations and ensuring that citizens and businesses, especially SMEs, fully benefit from the opportunities that the agreement creates;
Amendment 40 #
2023/2107(INI)
Draft opinion
Paragraph 7 d (new)
Paragraph 7 d (new)
7d. Welcomes the decision of Japan to join the Multi-Party Interim Appeal Arbitration Arrangement, which is an alternative system open to all World Trade Organization (WTO) members for resolving WTO disputes, pending the restoration of a reformed WTO dispute settlement system;
Amendment 41 #
2023/2107(INI)
Draft opinion
Paragraph 7 e (new)
Paragraph 7 e (new)
7e. Asks the EU and Japan to explore the possibility of establishing a joint Trade and Technology Council, following the model existing between the EU and the USA; asks the Commission and Japan to explore ways of developing common strategies in economic security and technological cooperation; calls for further cooperation with Japan in the digital and green transitions, economic security, the resilience of global supply chains in strategic sectors, as well as in other relevant issues such as anti- coercion, export controls and investment screening, as the EU and Japan share common values and our strategic interests increasingly converge;
Amendment 12 #
2023/2078(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the Banking Union (BU), which currently encompasses the Single Supervisory Mechanism and the Single Resolution Mechanism, needhas to be supplemencompleted by the creation of a European deposit insurance scheme (EDIS) in order to mitigate risk exposure of the financial sector;
Amendment 18 #
2023/2078(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas an agreement was reached in 2020 on the creation of a backstop for the Single Resolution Fund (SRF), but has still not been implemented;
Amendment 24 #
2023/2078(INI)
Motion for a resolution
Recital B
Recital B
B. whereas a completed BU would improve the competitiveness and stability of the banking sector and consumer choice and facilitate access to financing whilst ensuring that public funds are not used to bail out the banking sector;
Amendment 26 #
2023/2078(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas a decade and a half after the financial crisis, banks are still ‘too big to fail’ and ‘too interconnected’ to fail;
Amendment 65 #
2023/2078(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
I a. whereas the completion of the Capital Markets Union (CMU) requires the establishment of common rules and effective tools to reduce internal market fragmentation and facilitate access to alternative financing;
Amendment 87 #
2023/2078(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Highlights that the Banking Union remains an essential complement to the Economic and Monetary Union (EMU) and therefore the internal market;
Amendment 101 #
2023/2078(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Encourages the use of profits to build buffers, thus safeguarding the stability of the financial system; notes that the temporary suspension of dividend distribution and share buy back was effective in safeguarding banks’ resilience during the COVID-19 crisis; calls for the introduction of a binding limitation of dividend distribution and buy back in times of crisis;
Amendment 102 #
2023/2078(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 122 #
2023/2078(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Restates the importance of a European safe asset in the euro area as a way to help stabilise financial markets and allow banks to reduce the exposure of their balance sheets to national sovereign debt; considers that NextGeneration EU provides high-quality, low-risk European assets, allowing for a rebalancing of sovereign bonds on banks’ balance sheets; highlights the importance of preserving the availability of safe assets in a permanent manner;
Amendment 146 #
2023/2078(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Acknowledges the progresses made over the last 15 years through the establishement of the Single Supervisory Mechanism (SSM) and Single Resolution Mechanism (SRM) ; calls for the total completion of the Banking Union, particularly through the setting up of a fully-fledged European Deposit Insurance Scheme (EDIS);
Amendment 189 #
2023/2078(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments and for the scope of State aid to be limited; considers that financial stability is better preserved if small and medium-size banks with a positive public interest assessment have access to the EU-level resolution framework;
Amendment 190 #
2023/2078(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Welcomes the proposal to reform the CMDI framework following calls by Parliament; calls for the scope of resolution to be expanded, clarification of public interest assessments and for the scope of State aid to be limited; recalls that the CMDI framework must not preclude the establishment of EDIS;
Amendment 193 #
2023/2078(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20 a. Stresses that financial institutions benefitting from direct State aid measures must refrain from dividend distribution, share buybacks and variable remuneration payments; calls for this temporary limitation to be established in a legally binding form;
Amendment 209 #
2023/2078(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Welcomes the Commission’s efforts to clarify the scope of depositor protection and increase convergence through a reform of 2014/49/EU on deposit guarantee schemes3 ; warns that the CMDI review cannot be considered a replacement for EDIS; considers that this review should pave the way toward the establishment of EDIS; _________________ 3 OJ L 173, 12.6.2014, p. 149.
Amendment 214 #
2023/2078(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Underlines the need for risk-based contributions to EDISa fully-fledged EDIS that enables loss absorption; calls for institutional protection schemes to be taken into account, while preserving the level playing field within the Single Market; calls for an assessment of bank asset quality; recommends starting with the pooling of liquidity and a gradual build-up of funds;
Amendment 221 #
2023/2078(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Notes that effective risk reduction is key for EDISWelcomes the significant progress in risk reduction; regrets, on the other hand, the limited progress regarding risk sharing; reminds the analysis of the SSM, stating that ‘the implementation of EDIS should not be linked to further risk reduction benchmarks’; highlights that the CMDI review provides co-legislators with an opportunity to resume negotiations on EDIS;
Amendment 30 #
2023/2072(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Is concerned about China’s assertive geopolitical and economic rise that has a considerable impact on the global economic and political developments particularly of the Global South, through its Belt and Road Initiative; calls on the Commission and the Member States to screen with a particular attention China’s acquisitions of critical infrastructures in the Western Balkans and in the EU neighbourhood countries; calls on China to increase transparency on Belt and Road Initiatives (BRI) projects, given that many BRI loans that have underperformed and became not financially viable.
Amendment 43 #
2023/2072(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Urges the Commission and the Member States to secure the main use of EU infrastructures is preserved and protected, to allow the normal development of EU economic activity and trade, notably transport (ports, airports, train, and roads) energy and telecommunication infrastructures. Calls on the Commission to periodically report to the European Parliament on: a) the detection of possible dual use of strategic infrastructures that provide logistical and intelligence support to China; b) the full respect of EU trade legislation, especially due diligence, anti coercion and forced labour of goods entering the EU markets.
Amendment 47 #
2023/2072(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Calls on the European Commission in coordination with the Member States, to design a rapid mechanism of response, in case of detection of dual use, or misuse, of the infrastructures in the EU, which are under property, participation or concession to China, that could lead to the cancellation of the rights of concession, and/or the suspension of the capacity of domain in the cases or property and participation.
Amendment 49 #
2023/2072(INI)
Draft opinion
Paragraph 6 d (new)
Paragraph 6 d (new)
6d. Calls on the European Commission and China to explore coordinated ways to boost trade and investment, looking to better adaptation of China to EU legislation and to the international and multilateral trade provisions.
Amendment 50 #
2023/2072(INI)
Draft opinion
Paragraph 6 e (new)
Paragraph 6 e (new)
6e. Calls on the Commission to fully put in force the recently developed legislation and mechanisms to address the unbalanced trade relationship and mitigate EU vulnerabilities, such as the screening of Foreign Direct Investment, the review of Trade Defence Instruments, the International Procurement Instrument, the EU Foreign Subsidies Regulation, the export controls, the anti- coertion instrument the Critical Raw materials proposal, the Net Zero Industries Act, and the European Economic Security Strategy. Calls on China to cooperate to level the playing field limiting the assistance and the intervention in Chinese companies and removing the restrictions of European companies’ access.
Amendment 58 #
2023/2072(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Calls on the Commission and the Member States to strengthen the EU strategic autonomy notably by building diversified, secure and resilient supply chains and by increasing its actions in key areas such as research and development, cutting-edged technologies, critical raw materials, reindustrialisation and new infrastructures.
Amendment 64 #
2023/2072(INI)
Draft opinion
Paragraph 7 d (new)
Paragraph 7 d (new)
7d. Calls on China to put in place and implement a responsible digital governance, with respect for privacy rights, freedom of expression and the rule of law in its digital governance policies, in the framework of WTO and multilateral standards; calls on the Commission to assess other areas under risk such as the semiconductors, quantum computing, blockchains, space, AI or biotechnologies, and consider legislation or tools for further protection against malicious software and cyber espionage.
Amendment 65 #
2023/2072(INI)
Draft opinion
Paragraph 7 e (new)
Paragraph 7 e (new)
7e. Requires the Commission to share with the European Parliament, before the end of this parliamentary term, a detailed analysis of the risks for EU trade, regarding the semiconductors, quantum computing, blockchain, space, AI or biotechnologies and the possible need of EU action in these fields.
Amendment 9 #
2023/2064(INI)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
Amendment 10 #
2023/2064(INI)
Motion for a resolution
Citation 10 a (new)
Citation 10 a (new)
– having regard to the European Parliament resolution of 19 May 2022 on the social and economic consequences for the EU of the Russian war in Ukraine – reinforcing the EU’s capacity to act (2022/2653(RSP)),
Amendment 11 #
2023/2064(INI)
Motion for a resolution
Citation 10 b (new)
Citation 10 b (new)
– having regard to the Paris Agreement adopted under the UN Framework Convention on Climate Change,
Amendment 12 #
2023/2064(INI)
– having regard to the European Pillar of Social Rights,
Amendment 14 #
2023/2064(INI)
Motion for a resolution
Recital A
Recital A
A. whereas, according to the June 2023 Eurosystem staff macroeconomic projections, the growth of the euro area economy is expected to slow down from 3.5 % in 2022 to 0.9 % in 2023, before rebounding to 1.5 % in 2024 ; whereas, according to a Eurostat flash estimate, the euro area grew by just 0.6 % in 2023; whereas this represents the worst performance since the recession of 2020;
Amendment 20 #
2023/2064(INI)
Motion for a resolution
Recital B
Recital B
B. whereas, according to the June 2023 Eurosystem staff macroeconomic projections for the euro area, headline inflation is expected to average 5.4 % in 2023, 3.0 % in 2024 and 2.2 % in 2025, despite falling energy prices and easing supply bottlenecks; whereas core inflation has been more persistent, with an inhile decreaseing to 5.54.3 % in JuneSeptember 2023, and is projected to overtake headline inflation in the near term and to remain above it until early 2024, mainly owing to strong wage growth;
Amendment 29 #
2023/2064(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the ECB is politically independent, which means that neither from EU institutions and agencies norand Member State governments should seek to influence it;
Amendment 31 #
2023/2064(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas central bank independence is not without democratic accountability, namely to the European Parliament as the sole democratically- legitimised institution representing European citizens, particularly but not exclusively when it comes to the appointment of officials to the ECB’s highest bodies; whereas legal and political accountability is the necessary counterpart for the legitimacy, independence and transparency of the ECB’s supervisory decisions;
Amendment 34 #
2023/2064(INI)
Motion for a resolution
Recital E
Recital E
E. whereas the ECB’s primary objective isand secondary objectives are, respectively, to maintain price stability, which it has defined as 2 % inflation over the medium term, and to support the general economic policies in the Union, which include full employment, social progress and environmental protection; whereas the ECB’s mandate, as defined by its objectives, is laid down in Article 127 TFEU and thus legally binding;
Amendment 49 #
2023/2064(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the role of the ECB in safeguarding euro 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, and that its concomitant accountability is important in the fulfilment of its primary and secondary mandates;
Amendment 56 #
2023/2064(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Underlines that price stability is a prerequisite for the ECB to deliver on its mandate to support the EU’s general economic policies, such as the green and digital transitions; stresses that price stability is essential for attracting long term investments; emphasizes that, by the same token, the ECB must take account of environmental, social and economic sustainability goals in line with its secondary mandate;
Amendment 64 #
2023/2064(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Fears that, without properly delivering on its mandate of maintaining price stability, the ECB risks losing its legitimacycredibility; is worried that said potential loss of credibility may be aggravated by a loss of democratic control;
Amendment 66 #
2023/2064(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Fears that, without properly delivering on its mandate of maintaining price stability, the ECB risks losing its legitimaccredibility;
Amendment 71 #
2023/2064(INI)
4. Is deeply worried about the persistently high inflation rates, especially core inflation rates, and their detrimental impact on competitiveness, investments, job creation and the purchasing power of consumers; recalls that quantitative inflation targets are to be met over a medium-term horizon; calls, therefore, on the ECB to reflect on and guide its decision-making process in relation to the size and speed of increases in interest rates in line with a medium-term orientation; underlines the need for the ECB to provide information in regards to the monitoring and setting of the neutral interest rate;
Amendment 73 #
2023/2064(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Notes with concern the mounting sovereign debt distress driven by the unrelenting rise of interest rates in the euro area, which may significantly constrict future public investments and economic growth; reflects upon the IMF’s 2023 World Economic Outlook findings suggesting that high inflation, while playing a role in reducing debt ratios, is not a desirable policy tool to the extent that it can lead to losses on the balance sheets of sovereign debt holders and damage the credibility of central banks; calls on the ECB to closely monitor the EU central banks’ secondary market purchases of debt instruments;
Amendment 77 #
2023/2064(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Expresses concern about the high levels of debt and government deficits within the Member States and the risks that this entails; notes that the situation is worse urges a swift outcome of the Commission’s legislative proposals on revising the euro area EU’s economic governance rules, which seek to strengthaen in non-euro area Member States; looks forward to the outcome of the Commission’s legislative proposals on revising the EU’s economic governance rules and welcomes the ECB’s opinion in this regardpublic debt sustainability and foresee the permanent mobilisation of resources for investments and financing of European structural and social policies, and welcomes the ECB’s opinion in this regard; recalls that said revision of the current economic governance framework must provide the EU with stable, transparent, reasonable and flexible rules that could be implemented and respected by all Member States with the due democratic accountability;
Amendment 84 #
2023/2064(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. RegretDenounces Russia’s unprovoked invasion and ongoing aggression against Ukraine; agrees with member of the Executive Board Isabel Schnabel on the risk the war entails in terms of negative supply side shocks; is deeply concerned about its enduring, unpredictable and severe repercussions for the European economy and society, particularly for the most exposed and vulnerable groups, such as lower-income households and SMEs;
Amendment 93 #
2023/2064(INI)
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 97 #
2023/2064(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Calls on the ECB to look into the strengthening of the international role of the euro with a view of raising its attractiveness as a reserve currency; recalls that the creation of a well-designed European safe asset could facilitate financial integration and help mitigate negative feedback loops between sovereigns and domestic banking sectors; stresses the need for deepening and completing the Economic and Monetary Union as a pre-requisite for a strong international euro; underlines the importance that co-legislators remain in charge throughout the design of the digital euro;
Amendment 101 #
2023/2064(INI)
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; points out thatnotes, nevertheless, the limited influence of traditional monetary policy tools in tackling inflation that is mainly supply- driven; highlights the consequent need for a closer coordination between fiscal, budgetary, monetary and structural policies as a means to maintain price stability and support the most exposed and vulnerable groups; commends the efforts that Member States' governments, as well as the Commission, canundertake to support citizens and industries not only through fiscal measures, but also by focusing on growth-enhancing reforms; prompts the ECB to respond to the ongoing crisis and tackle its social, economic and financial impacts with bold and forward-looking solutions on monetary policy that are conducive to sustainable and inclusive growth, along with broader coordination with fiscal policy at EU and national levels;
Amendment 107 #
2023/2064(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Notes that according to the most recent economic forecast, the Euro Area economy is expected to growth much less than what was predicted last spring, while there is a certain inertia in the price level; emphasizes that, as a consequence, the so- called “sacrifice ratio” to bring inflation back to 2% is becoming higher than the it was expected some time ago; recognizes that inflation is a painful and harmful phenomenon, and that ECB is using every tools at its disposal to cope with that; underlines, however, that social tensions, economic crisis and political instability are also equally dangerous for the future of the Union; warns that inflation, social, economic and political tensions might feed each other and could create a dangerous spiral; calls for a proper assessment on how to make the fight against inflation economically, socially and politically sustainable, and therefore possible.
Amendment 109 #
2023/2064(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Emphasises the ineptness of conventional monetary policy alone in achieving price stability, sustainable growth and financial resilience, especially in consideration of the limited influence of monetary policy tools in tackling inflation that is mainly supply-driven; highlights the key role of supportive and discretionary fiscal policy and socially balanced and productivity-enhancing reforms and investments in this regard; calls for closer and more strategic coordination between fiscal, monetary and structural policies;
Amendment 111 #
2023/2064(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the ECB’sPresident Lagarde’s statement that the current geopolitical crisis requires us to progress on EU fiscal integration; welcomes the ECB’s long- standing support for a well thought out completion of the bEconomic and Monetary Union, the Banking uUnion and the c, namely with the establishment of a fully- fledged European Deposit Insurance Scheme, and the Capital mMarkets uUnion; recalls that this would contribute to a larger spread of risks within and the enhanced financial stability of the monetary union, as well as it would further strengthen the international role of the euro and amplify its attractiveness as a reserve currency;
Amendment 120 #
2023/2064(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that headline inflation has come down from 8.4 % in 2022 to 5.4 % in 2023, mainly driven by lower energy prices and the easing of supply bottlenecks; observes, however, that inflation remains well above the target level of 2 %; is concerned about second-round effects and implications for growth and employment, as well as the extraordinary burden placed on lower-income strata;
Amendment 127 #
2023/2064(INI)
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; encourages the ECB, furthermore, to look into and report on the inflationary effect of the green transition;
Amendment 141 #
2023/2064(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Fully supports President Lagarde’s statement on fighting inflation for as long as necessary; 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, while emphasising that monetary policy normalisation cannot be achieved at any cost and by itself, but rather by converging towards a closer coordination between fiscal, monetary and structural policies; 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, taking into account the lessons learned from the ongoing and previous crises and the challenges posed to monetary policy-making, especially when disruptive supply-side driven inflation is concerned;
Amendment 150 #
2023/2064(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Trusts that the ECB will deliver on its mandate to safeguard price stability; notes that real interest rates are still negative; is deeply concerned about the implications of increasingly higher interest rates for strategic and sustainable investments; calls on the ECB to ponder the feasibility of applying differentiated rates to tilt investment patterns away from brown technology and support investments that contribute most to reducing inflationary pressures such as those in energy efficiency and renewables;
Amendment 155 #
2023/2064(INI)
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’; invitesalso takes note that inflation is on a downward trend, nearing the ECB's medium-term objective; reflects on the commitment to symmetry, if price stability is best maintained by aiming at this 2 % target level; calls on the ECB to look into a more qualitative approach to price stability;
Amendment 165 #
2023/2064(INI)
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; notwelcomes the ECB’s announcement to decarbonise its corporate bond holdings by ‘tilting’ its portfolio; stresses the importance of the quality of the collateral;
Amendment 192 #
2023/2064(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Underlines that climate change and extreme weather phenomena could lead to greater variability in prices, especially in the agri-food sector; notes that sudden tightening conditions on the supply side might become very frequent, leading to new inflationary episodes in the coming years; emphasizes that this is an issue that evidently poses serious difficulties for the ECB, which have adequate tools to stabilize demand-driven inflation, but can do little when price instability is mainly due to variations in supply conditions; expresses concern that the Union do not have a proper toolkit to deal with such episodes.
Amendment 209 #
2023/2064(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Takes note ofWelcomes 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 cash and must respect the privacy and security of citizens and businesses;
Amendment 212 #
2023/2064(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Shares the ECB’s concern regarding the rise of the shadow banking sector and the risk it may pose to financial stability; calls on the ECB to step up its monitoring of the development of crypto- currencies and of the related risks and emerging threats in terms of cybersecurity, money laundering, terrorism financing and other criminal activities; stresses the need for adequate regulation in this field;
Amendment 220 #
2023/2064(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Evokes the crucial role of the ECB in supporting the implementation of the European Pillar of Social Rights as the beacon of equality and social justice guiding the EU towards greater socio- economic convergence;
Amendment 223 #
2023/2064(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Acknowledges the ECB’s openness and availability to Parliament; welcomes the formalisation, in writing, of the current accountability practices between the ECB and Parliamenthighlights, nevertheless, the need to further enhance the ECB’s accountability and transparency arrangements in light of the magnitude of the responsibilities assumed by the ECB in the recent years and amidst the ongoing economic and financial crisis; calls for the formalisation, in writing, of the current accountability practices between the ECB and Parliament; endorses, to this end, the relaunch of negotiations on a formal Inter- Institutional agreement as a means to re- anchor the ECB’s credibility and reinforce the standing accountability mechanisms;
Amendment 224 #
2023/2064(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Calls for the enhancement of the ECB’s internal whistleblowing framework;
Amendment 225 #
2023/2064(INI)
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
22b. Calls for the ECB to create an internal evaluation office for ex post assessment of its policy decisions;
Amendment 226 #
2023/2064(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Welcomes the ECB’s substantial and detailed feedback on Parliament’s resolution on the 2021 ECB annual report; calls on the ECB to maintain this commitment to accountability and transparency, and to continue publishing its written feedback on Parliament’s resolutions on the ECB annual reports every year;
Amendment 232 #
2023/2064(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Welcomes the ECB’s new communications policy, which includes more accessible ways to explain and present ECB policy decisions to citizens and stakeholders; encourages the reinforcement of the ECB’s communication about central bank policy objectives and crisis responses in order to stabilise euro area inflation expectations and allow families and business to better manage the higher interest rates environment stimulated by the substantial tightening of monetary policy;
Amendment 233 #
2023/2064(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Notes the recent appointment of the new Chair of the Supervisory Board and calls on the ECB to take better account of the position of the European Parliament’s Committee on Economic and Monetary Affairs on such appointments in the future;
Amendment 15 #
2023/2063(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Takes note of the proposed reform of the economic governance framework of the Union; believes that the new framework should ensure clear and flexible implementation and provide the adequate fiscal space for Member States to invest in the EU’s strategic priorities; recalls its position that an EU-level permanent crisis instrumentfiscal capacity will contribute to ensuring a sufficiently high level of strategic investment and an appropriate fiscal stance at the aggregate level;
Amendment 20 #
2023/2063(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Stresses the success of the Recovery and Resilience Facility (RRF) in supporting the recovery of EU economies and notes its positive impact on the implementation of the country-specific recommendations and on investments in EU priorities; welcomes the fact that most Member States have submitted revised national plans, including REPowerEU chapters; stresses that investments in line with European objectives, notably those of the RRF and REPowerEU, should be treated favourably for the calculation of excessive debt; considers that the EU should build on the success of the Next Generation EU, the RRF and the Support to mitigate Unemployment Risks in an Emergency (SURE) instrument for future EU instruments to respond to arising challenges;
Amendment 29 #
2023/2063(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Recalls that the substantial increase in interest rates has driven up the borrowing costs for the European Recovery Instrument (EURI); reiterates, therefore, its call for progress on the introduction of new own resourcesthe introduction of genuine new own resources such as a financial transaction tax and a financial contribution linked to the corporate sector or a new common corporate tax base; strongly supports the Commission proposal for a EURI instrument outside the ceilings of the multiannual financial framework to cover the excess costs for interest payments;
Amendment 35 #
2023/2063(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls for the Parliament’s role to be fully involved in the reform of the economic governance framework as well as the future conduct of economic governance in the EU, including in the establishment and management of fiscal instruments; recalls that Parliament's role ind the European Semester toshould be strengthened.
Amendment 1 #
2023/2059(INI)
Draft opinion
Recital A
Recital A
A. whereas European ports are a key artery for EU and global trade, with 74 % of goods entering or leaving the EU by sea; whereas, in addition to its strategic function, ports are taking up an increasingly important role as the anchor of social and economic growth of the regions as well as in the supply, production, provision and storage of energy, and greening of transport and industry;
Amendment 9 #
2023/2059(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Stresses that geopolitical tension and supply chain disruption, alongside Russia’s war of aggression against Ukraine, represent significant challenges for the efficient operation ofduring the pandemic, ports have played a crucial role in ensuring the continuance of emergency supply chains; highlights that also in the new geopolitical context, alongside Russia’s war of aggression against Ukraine, the essential role of ports in keeping supply chains operational and setting up new alternative routes, including humanitarian lanes and solidarity lanes for Ukrainian exports, is again coming to the forefront; further underlines that European ports are pivotal in safeguarding energy supplies and in reducing energy dependency from Russia and will remain instrumental in repowering Europe in the short term, by enhancing the setting up of alternative routes for the provision of gas and increasing gas storage; in parallel, stresses that ports are and will be key in reinforcing efforts to prepare for a fossil- free energy landscape in Europe an ports; d will play an important role in the greening of transport, industry and energy generation;
Amendment 17 #
2023/2059(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Highlights that an open, fair, sustainable and assertive EU trade policy, coupled with ambitious trade agreements, would strengthen the competitiveness and resilience of European portsare key for the competitiveness and resilience of European ports and for Europe’s growth and prosperity; recognises that Europe’s maritime manufacturing capabilities are essential to the Union's maritime strategic autonomy, innovation and sustainable growth as well as to the EU's ambitions to lead the twin green and digital transitions; believes that the EU Regulation on Foreign Subsidies and autonomous tools are essential to preserve and foster the European maritime industrial base;
Amendment 29 #
2023/2059(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Notes that the implementation of recent or pending EU legislation, including in the field of trade, will require investment and training for port operators and authorities; acknowledges that ports require significant investments to implement the obligations stemming from the Fit for 55 package and to be able to play their role in the green transition; underlines the importance of emerging technologies and digitalisation in European ports and the need to stimulate investment in the uptake of innovative solutions and support the digital transition in the port sector; recalls the importance of promoting sustainable investments in European ports, such as in electrification, hydrogen production, offshore wind energy, it will be key to boost ports' rail connections to TEN-T networks and to avoid botlenecks in these networks;
Amendment 39 #
2023/2059(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Emphasises that in certain cases foreign trade andThe lack of an effective and efficient investment can causd trade defense policy can produce security vulnerabilities, in particular with regard to foreign ownership, control or access to EU critical infrastructure, including European ports; believes that foreign investments in essential and critical infrastructure that might enable effective participation or control (direct or indirect) in the management of the port should be thouroughly scrutinized; underlines that foreign investments, from state backed companies or state subsidies in all forms, that enable effective participation or direct or indirect control in the management of the port, should be avoided; considers that, in order to strengthen Europe's resilience, competetion on an equal footing must be ensured and that the level playing field and Europe's competitiveness can not be undermined with distortive foreign subsidies in European Ports;
Amendment 53 #
2023/2059(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Considers that a well-functioning Customs Union is fundamental to the EU’s competitiveness, sustainability and resilience; believes that a reformed and strengthened Customs Union with a common customs code will preserve the integrity of the Single Market, helping to maintain EU competitiveness in the twin green and digital transitions and avoid unfair competition between European ports;
Amendment 56 #
2023/2059(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Believes that tackling ‘port shopping’, a practice undermining the integrity of the EU internal market whereby traders target certain ports for products to enter the Single Market, is key; notes that currently customs controls are largely based on automated and targeted risk management, and that Member States employ national systems with national data to do this; underlines the urgency to have in place harmonised customs controls in all European ports to avoid different application of sanitary or due diligence standards;
Amendment 60 #
2023/2059(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Recalls that the regulation on the screening of foreign direct investments2 addresses risks to security and public order resulting from investments from third countries, including those concerning European ports; believes the forthcoming review of the FDI Regulation should make foreign direct investment screening system mandatory in all Member States; considers that assessments on the basis of this Regulation should be more binding and take place within a reasonable timeframe safeguarding the attractiveness of Europe for new investments; _________________ 2 Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 establishing a framework for the screening of foreign direct investments into the Union (OJ L 79I, 21.3.2019, p. 1).
Amendment 67 #
2023/2059(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Emphasises the considerable role that the Global Gateway could play in strengthening the network of European ports with third countries, facilitating trade and expanding investment opportunities, hence creating mutually beneficial partnerships and promoting sustainable value chains; highlights in this regard the importance for the EU to step up its economic diplomacy.
Amendment 71 #
2023/2059(INI)
Draft opinion
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Underlines the importance of a healthy, competitive and diversified maritime and logistics environment for ports; points however to the increasing market power of a small amount of stakeholders, in particular shipping lines, that risks to affect the fair power balance and level playing field between the different actors in the port ecosystem; as such, emphasizes the importance of effective and timely dialogue between ports and other logistics stakeholders in order to ensure well-functioning supply chains and avoid stranded assets.
Amendment 15 #
2023/0260R(NLE)
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the current international instability highlights the need for the EU to reinvigorate its partnerships with democratic and like-minded countries in order to strengthen its open strategy autonomy and cooperate in all multilateral fora to protect a rules-based international order based on peace, rule of law and sustainable development;
Amendment 17 #
2023/0260R(NLE)
Motion for a resolution
Recital A
Recital A
A. whereas Chile and the EU are close partners in tackling regional and global challenges and are united by shared valuesuniversal values such as democracy and human rights, and close cultural, economic and political ties;
Amendment 19 #
2023/0260R(NLE)
Motion for a resolution
Recital B
Recital B
B. whereas the modernised EU-Chile Advanced Framework Agreement (‘the Agreement’) has the potential to considerably strengthen cooperation between Chile and the EU and extend it to new areas and to support them in tackling new global challenges;
Amendment 25 #
2023/0260R(NLE)
Motion for a resolution
Recital C
Recital C
C. whereas Chile’s main trading partner is currently China, which accounts for 38% of Chile’s total exports and for 30% of its imports; whereas the EU is Chile’s third largest trading partner and its largest source of foreign direct investment; whereas the EU and Chile share a commitment to promoting an open, sustainable, rules- and values-based multilateral trading system with the World Trade Organization (WTO) at its core;
Amendment 64 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the fact that parliamentary diplomacy is recognised as a pillar of the political dialogue with Chile; praises Chile’s key role in the Parlamento Andino also in the context of the EuroLat Assembly;
Amendment 83 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Considers the mutually beneficial Agreement to be an important signal in support of open, fair and rules- and values- based trade, at a time of increasing economic fragmentation and protectionism;
Amendment 86 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that over 95 % of trade between the EU and Chile will be duty-free under the Agreement; points out that 216 European geographical indications will be protected under the new agreement, in addition to the 1 573 wines and 235 spirit drinks already protected; highlights that the extension of geographical indications agreed by EU and Chile is an important step forward in the protection of EU geographical indications at the global level;
Amendment 90 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Welcomes the fact that the chapter on trade and sustainable development (TSD) contains ambitious and binding commitments on environmental and labour standards; notes that in their joint statement on trade and sustainable development attached to the Agreement, the EU and Chile commit to reviewing the Agreement’s TSD provisions upon its entry into force;
Amendment 91 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19 b. Welcomes the inclusion of the rights of indigenous peoples under the TSD chapter; notes that ILO Convention No 169 is not explicitly mentioned; acknowledges that this convention is key for upholding the rights of indigenous peoples in Chile and the EU when it comes to our trade relations; stresses the importance of abiding by ILO Convention No 169;
Amendment 96 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Welcomes the inclusion of a stand- alone dedicated chapter on trade and gender, the first of its kind in an EU trade agreement, which includesrecognizes the importance of incorporating a gender perspective into the promotion of inclusive economic growth, and the key role that gender-responsive policies can play in this regard; strongly supports the inclusion of a number of binding commitments to eliminate barriers and discrimination against women, promote women’s economicgender equality and women’s empowerment and ensure that international trade benefits all; expects the Commission to build on this precedent in all future trade negotiations;
Amendment 98 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 20 – subparagraph 1 (new)
Paragraph 20 – subparagraph 1 (new)
Welcomes the Parties’ commitment to promote the development of international trade in a way that is conducive to decent work for all, in particular women, young people and persons with disabilities, in line with their respective obligations under the ILO; calls on Chile to swiftly ratify the ILO’s Occupational Safety and Health Convention (C155); points to the fact that in 2021 informal employment in Chile accounted to 27.4% of total employment;
Amendment 99 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20 a. Underlines the importance of fighting against all sort of human rights violations and to effectively eradicate economic and any discrimination against indigenous people, migrant workers, people with disabilities, LGBTI people and any other vulnerable person;
Amendment 100 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20 b. Notes that Chile is a major destination for migrants from other Latin American countries, particularly Venezuela, and that in the last years migrants have grown to almost 8% of the total population; acknowledges the Government’s effort to successfully integrate the migrant population, most of which lacks of social protection because jobless or employed in the informal economy; invites the Chilean authorities to design and implement a comprehensive policy to ensure accessible and affordable regularisation for migrant workers and their families who are in an irregular situation;
Amendment 113 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 22
Paragraph 22
22. EmphasisesIs convinced that the provisions on investment liberalisation and investment protection will further boost sustainable investments in both directions by guaranteeing that investors from both sides will be granted fair and non-discriminatory treatment; stresses that these provisions are fully aligned with the EU’s reformed approach on investment protection;
Amendment 137 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Emphasises Chile’s leading role as a major supplier of critical raw materials, including those that are essential for the green and digital transitions, such as lithium and copper; stresses that theis mutually beneficial Agreement will ensure non-discriminatory access of EU companies to Chilean raw materials, while leaving sufficientthe proper policy space for Chile to create local added value; believes that the EU should actively support Chile in its efforts to move up the value chain; is convinced that the exploitation of raw materials should be carried out in an environmentally and socially sustainable manner, and that it should benefit local communities, including indigenous communities;
Amendment 138 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 29
Paragraph 29
Amendment 146 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 30
Paragraph 30
Amendment 153 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Welcomes an institutionalised mechanism for involving civil society organisations in the implementation of the Agreement and the strengthening of the Domestic Advisory Groups; stresses the important role of civil society organisations and the domestic advisory groups in the monitoring and implementation of the agreement; calls on the Commission and on the Chilean authorities to ensure the active and meaningful involvement of civil society, including indigenous representatives, in the monitoring of the Agreement’s implementation; expects close cooperation between the EU and Chilean domestic advisory groups;
Amendment 155 #
2023/0260R(NLE)
Motion for a resolution
Paragraph 33 a (new)
Paragraph 33 a (new)
33 a. Urges the institutions to implement quickly and make all resources available so that SMEs and women can benefit from the roll-out of the agreement as soon as it is approved;
Amendment 125 #
2023/0199(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) The STEP should identify resources which should be implemented within the existing Union programmes and funds, the InvestEU, Horizon Europe, European Defence Fund and Innovation Fund. This should be accompanied by providing additional funding of EUR 103 billion. Of this, EUR 5 billion should be used to increase the endowment of the Innovation Fund46 and EUR 34,2 billion to increase the total amount of the EU guarantee available for the EU compartment under the InvestEU Regulation to EUR 710,5 billion,47 taking into account the relevant provisioning rate. EUR 0.51,3 billion should be made available to increase the financial envelope under the Horizon Europe Regulation,48 which should be amended accordingly; and EUR 1.2,5 billion to the European Defence Fund.49 _________________ 46 Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading (OJ L 275, 25.10.2003, p. 32). 47 Regulation (EU) 2021/523 establishing the InvestEU Programme (OJ L 107, 26.3.2021, p. 30). 48 Regulation (EU) 2021/695 establishing Horizon Europe (OJ L 170, 12.5.2021, p. 1). 49 Regulation (EU) 2021/697 establishing the European Defense Fund (OJ L 170, 12.5.2021, p. 149.)
Amendment 134 #
2023/0199(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) To that end, it should be possible to rely on assessments made for the purposes of other Union programmes in accordance with Articles 126 and 127 of Regulation (EU, Euratom) 2018/1046,52 in order to reduce administrative burden for beneficiaries of Union funds and encourage investment in priority technologies. Provided they comply with the provisions of the RRF Regulation,53 Member States should consider including actions awarded the Sovereignty Seal when preparing their recovery and resilience plans and when proposamending their Recovering and Resilience Plans and when deciding on investment projects to be financed from its share of the Modernisation Fund. The Sovereignty Seal should also be taken into account by the Commission in the context of the procedure provided for in Article 19 of the EIB Statute and of the policy check laid down in Article 23 of the InvestEU Regulation. In addition, the implementing partners should be required to examine projects having been awarded the Sovereignty Seal in case they fall within their geographic and activity scope in accordance with Article 26(5) of that Regulation. Authorities in charge of programmes falling under STEP should also be encouraged to consider support for strategic projects identified in accordance with the Net Zero Industry and the Critical Raw Materials Acts that are within the scope of Article 2 of the Regulation and for which rules on cumulative funding may apply. _________________ 52 Regulation (EU, Euratom) 2018/1046 on the financial rules applicable to the general budget of the Union (OJ L 193, 30.7.2018, p. 1). 53 Regulation (EU) 2021/241 establishing the Recovery and Resilience Facility (OJ L 57, 18.2.2021, p. 17).
Amendment 145 #
2023/0199(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) While the STEP relies on the reprogramming and reinforcement of existing programmes for supporting strategic investments, it is also an important element for testing the feasibility and preparation of new interventions as a critical step towards a fully-fledged European Sovereignty Fund. The evaluation in 2025 will assess the relevance of the actions undertaken and serve as basis for assessing the need for an upscaling of the support towards strategic sectors in the post-2027 multiannual financial framework.
Amendment 153 #
2023/0199(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) Directive 2003/87/EC54 should be amended to allow for additional financing with a financial envelope for the period 2024-2027 of EUR 5 billion. The Innovation Fund supports investments in innovative low-carbon technologies, which is a scope that is to be covered by the STEP. The increase in volume of the Innovation Fund should therefore allow to provide financing responding to the objective of supporting the development or manufacturing in the Union of critical clean technologies. In line with the objectives of ensuring social, territorial and economic cohesion and promoting the Single Market, and in order to support the green transition and the development of clean technologies throughout the Union, the additional financial envelope should be made available through calls for proposals open to entities from Member States whose average GDP per capita is below the EU average of the EU-27 measured in purchasing power standards (PPS) and calculated on the basis of Union figures for the period 2015-2017. _________________ 54 Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading (OJ L 275, 25.10.2003, p. 32).
Amendment 161 #
2023/0199(COD)
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
Amendment 172 #
2023/0199(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) InvestEU is the EU flagship programme to boost investment, especially the green and digital transition, by providing demand-driven financing, including through blending mechanisms, and technical assistance. Such approach contributes to crowd in additional public and private capital. Given the high market demand of InvestEU guarantee, the EU compartment of InvestEU should be reinforced to correspond to the objectives of the STEP. This will, among other things, reinforce InvestEU’s existing possibility to invest in projects forming part of an IPCEI, within the identified critical technology sectors. In addition, Member States are encouraged to contribute to the InvestEU Member State compartment to support financial products in line with the STEP objectives, without prejudice to applicable State aid rules. It should be possible for Member States to include as a measure in their recovery and resilience plans a cash contribution for the purpose of the Member State compartment of InvestEU to support objectives of the STEP. That additional contribution to support objectives of the STEP could reach up to 6% of their recovery and resilience plan’s total financial allocation to the Member State compartment of InvestEU. Additional flexibility and clarifications should also be introduced to better pursue the objectives of the STEP. ly, Member States should be able to take the unused RRF loans in order to make cash contributions to their Member State compartments of InvestEU to support objectives of the STEP. Additional flexibility and clarifications should also be introduced to better pursue the objectives of the STEP. In general, the Commission and all authorities in charge of programmes falling under STEP should be encouraged to ensure consistency, coherence, complementarity and synergy among sources of funding with the STEP objectives
Amendment 174 #
2023/0199(COD)
Proposal for a regulation
Recital 19 a (new)
Recital 19 a (new)
(19a) The legal deadline for Member States to request loan support under the RRF expired on 31 August 2023. In light of the requests submitted until the deadline, around EUR 93 billion would remain unused and should be devoted to the objectives of the STEP. According to the EURI Regulation, loans need to be granted to Member States no later than 31 December 2023. Given the tight timetable, a speedy granting procedure should be established for those Member States willing to take the loans. As a counterpart, Member States will use the proceeds of the loan to provide cash contributions to the Member State compartment of InvestEU to support objectives of the STEP, which implies that the funds would be under the control of the EIB.
Amendment 176 #
2023/0199(COD)
Proposal for a regulation
Recital 20
Recital 20
(20) Horizon Europe is the EU’s key funding programme for research and innovation, and its European Innovation Council (EIC) provides for support for innovations with potential breakthrough and disruptive nature with scale-up potential that may be too risky for private investors. Additional flexibility should be provided for under Horizon Europe, so that the EIC Accelerator can provide equity- only support to non-bankable SMEs, including start-ups, and non-bankable SMEs and small mid-caps, carrying out innovation in the technologies supported by the STEP and regardless of whether they previously received other types of support from the EIC Accelerator. The implementation of the EIC Fund is currently limited to a maximum investment amount of EUR 15 million except in exceptional cases and cannot accommodate follow-on financing rounds or larger investment amounts. Allowing for equity- only support for non-bankable SMEs and small mid-caps would address the existing market gap with investments needs in the range of EUR 15 to 50 million. Moreover, experience has shown that the amounts committed for the EIC Pilot under Horizon2020 are not fully used. These unused funds should be made available for the purposes of the EIC Accelerator under Horizon Europe. Research decommitments according to Article 15(3) of the Financial Regulation, as a result of total or partial non-implementation of research projects, should also be channelled to STEP objectives. The Horizon Europe Regulation should also be amended to reflect the increased envelope for the European Defence Fund.
Amendment 228 #
2023/0199(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point a
Article 3 – paragraph 1 – point a
(a) a Union guarantee referred to in Article 4(1) of Regulation (EU) 2021/523 with the indicative amount of EUR 710 500 000 000 That guarantee shall be implemented in accordance with Regulation (EU) 2021/523;
Amendment 230 #
2023/0199(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point b
Article 3 – paragraph 1 – point b
(b) an amount of EUR 51 300 000 000 in current prices of the financial envelope referred to in point (i) of Article 12(2)(c) of Regulation (EU) 2021/695. That amount shall be implemented in accordance with Regulation (EU) 2021/695;
Amendment 239 #
2023/0199(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point d
Article 3 – paragraph 1 – point d
(d) An amount of EUR 12 500 000 000 in current prices of the financial envelope referred to in Article 4(1) of Regulation (EU) 2021/697. That amount shall be implemented in accordance with Regulation (EU) 2021/697.
Amendment 303 #
2023/0199(COD)
Proposal for a regulation
Article 9 – paragraph 1 – point 1
Article 9 – paragraph 1 – point 1
Directive 2003/87/EC
Article 10 – subsection a – point 8 – sixth subparagraph
Article 10 – subsection a – point 8 – sixth subparagraph
In addition to the allowances referred to in the first to fifth subparagraphs of this paragraph, the Innovation Fund shall also implement a financial envelope for the period from 1 January 2024 to 31 December 2027 of EUR 5 000 000 000 in current prices for supporting investments contributing to the STEP objective referred to in Article 2, point (a)(ii) of Regulation .../...63 [STEP Regulation]. This financial envelope shall be made available to support investments only in Member States whose average GDP per capita is below the EU average of the EU-27 measured in purchasing power standards (PPS) and calculated on the basis of Union figures for the period 2015-2017 to promote convergence and territorial cohesion in the Union. _________________ 63 Regulation …/… of the European Parliament and of the Council … [insert full title and OJ reference].
Amendment 314 #
2023/0199(COD)
Proposal for a regulation
Article 10 – paragraph 1 – point 4
Article 10 – paragraph 1 – point 4
when they contribute to the STEP objectives referred to in Article 2 of Regulation .../... [STEP Regulation] under specific objective under PO 1 set out in Article 3(1), first subparagraph, point (a)(vi) or to the specific objective under PO 2 set out in point (b)(ix) of that subparagraph, in less developed and transition regions, as well as more developed regions in Member States whose average GDP per capita is below the EU average of the EU-27 measured in purchasing power standards (PPS) and calculated on the basis of Union figures for the period 2015-2017.
Amendment 339 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 2 – point a
Article 16 – paragraph 1 – point 2 – point a
Regulation (EU) 2021/523
Article 4 – paragraph 1 – first subparagraph
Article 4 – paragraph 1 – first subparagraph
The EU guarantee for the purposes of the EU compartment referred to in Article 9(1), point (a), shall be EUR 336 652 310 073 in current prices. It shall be provisioned at the rate of 40 %. The amount referred to in Article 35(3), first subparagraph, point (a), shall be also taken into account for contributing to the provisioning resulting from that provisioning rate.;
Amendment 341 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 2 – point a a (new)
Article 16 – paragraph 1 – point 2 – point a a (new)
Regulation (EU) 2021/523
Article 4 – paragraph 1 – fourth subparagraph
Article 4 – paragraph 1 – fourth subparagraph
(aa) In paragraph 1, the following new fourth subparagraph is inserted: 'An additional amount of the EU guarantee may also be provided in the form of cash by Member States to the Member State compartment of InvestEU to support objectives of the STEP. In particular, loans granted to Member States pursuant to Article 33a of Regulation 2021/241 [RRF Regulation] shall be provided for these purposes.'
Amendment 344 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 2 – point b
Article 16 – paragraph 1 – point 2 – point b
Regulation (EU) 2021/523
Article 4 – paragraph 2 – second subparagraph
Article 4 – paragraph 2 – second subparagraph
An amount of EUR 218 827 310 073 in current prices of the amount referred to in the first subparagraph of paragraph 1 of this Article shall be allocated for the objectives referred to in Article 3(2).;
Amendment 347 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 4 a (new)
Article 16 – paragraph 1 – point 4 a (new)
Regulation (EU) 2021/523
Article 9 – paragraph 1 – point b – subparagraph (new)
Article 9 – paragraph 1 – point b – subparagraph (new)
(4a) In Article 9(1), a new subparagraph is added in point (b): 'The additional amount provided by a Member State in the form of cash under the fourth subparagraph of Article 4(1) shall be earmarked for projects contributing to the objectives referred to in Article 2 of Regulation .../... [STEP Regulation].'
Amendment 348 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 4 b (new)
Article 16 – paragraph 1 – point 4 b (new)
Regulation (EU) 2021/523
Article 10 – paragraph 3 – point h (new)
Article 10 – paragraph 3 – point h (new)
(4b) In Article 10, a new point (h) is inserted in paragraph 3: '(h) any contribution in the form of cash to the Member State compartment made with the proceeds of RRF loans pursuant to Article 33a of Regulation 2021/241 [RRF Regulation]'
Amendment 349 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 5 a (new)
Article 16 – paragraph 1 – point 5 a (new)
Regulation (EU) 2021/523
Article 11 – paragraph 1 – point b – item viii (new)
Article 11 – paragraph 1 – point b – item viii (new)
(5a) In Article 11(1) a new item (viii) is inserted in point (b): '(viii) monitoring the implementation and the consistency with the NRRPs of the STEP projects financed with the proceeds of RRF loans.'
Amendment 354 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 6
Article 16 – paragraph 1 – point 6
Regulation (EU) 2021/523
Article 13 – paragraph 4
Article 13 – paragraph 4
4. At least 75 % of the EU guarantee under the EU compartment as referred to in Article 4(1), first subparagraph, amounting to at least EUR 25 237 489 232 554, shall be granted to the EIB Group. The EIB Group shall provide an aggregate financial contribution amounting to at least EUR 6 309 8872 308 138. That contribution shall be provided in a manner and form that facilitates the implementation of the InvestEU Fund and the achievement of the objectives set out in Article 15(2).;
Amendment 356 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 6 a (new)
Article 16 – paragraph 1 – point 6 a (new)
Regulation (EU) 2021/523
Article 13 – paragraph 7 – second subparagraph
Article 13 – paragraph 7 – second subparagraph
(6a) In article 13(7), the second subparagraph is replaced by the following: 'Contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in point (a) of Article 16(1) under the EU guarantee referred to in the first subparagraph of Article 4(2) shall be signed at the latest two years after the approval of the relevant financing or investment operation by the implementing partner. In other cases, contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in point (a) of Article 16(1) shall be signed by 31 December 2028.'
Amendment 374 #
2023/0199(COD)
Proposal for a regulation
Article 16 – paragraph 1 – point 12
Article 16 – paragraph 1 – point 12
Regulation (EU) 2021/523
Annex I – point (e)
Annex I – point (e)
(e) up to EUR 710 500 000 000 for objectives referred to in Article 3(2), point (e).
Amendment 379 #
2023/0199(COD)
Proposal for a regulation
Article 17 – paragraph 1 – point 1 – point a
Article 17 – paragraph 1 – point 1 – point a
Regulation (EU) 2021/695
Article 12 – paragraph 1
Article 12 – paragraph 1
1. The financial envelope for the implementation of the Programme for the period from 1 January 2021 to 31 December 2027 shall be EUR 86 67 423 000 000 in current prices for the specific programme referred to in point (a) of Article 1(2) and for the EIT and EUR 910 453 000 000 in current prices for the specific programme referred to in point (c) of Article 1(2).
Amendment 380 #
2023/0199(COD)
Proposal for a regulation
Article 17 – paragraph 1 – point 1 – point b – introductory part
Article 17 – paragraph 1 – point 1 – point b – introductory part
Regulation (EU) 2021/695
Article 12 – paragraph 2 – point c
Article 12 – paragraph 2 – point c
(b) in paragraph 2, points (b) and (c) areis replaced by the following: ‘(c) EUR 13 237 000 000 for Pillar III 'Innovative Europe' for the period 2021 to 2027, of which: (i) EUR 10 052 000 000 for the EIC; (ii) EUR 459 000 000 for European innovation ecosystems; (iii) EUR 2 726 000 000 for the EIT;’
Amendment 386 #
2023/0199(COD)
Proposal for a regulation
Article 18 – paragraph 1 – point 1 – point a
Article 18 – paragraph 1 – point 1 – point a
Regulation (EU) 2021/697
Article 4 – paragraph 1
Article 4 – paragraph 1
1. In accordance with Article 12(1) of Regulation (EU) 2021/695, the financial envelope for the implementation of the Fund for the period from 1 January 2021 to 31 December 2027 shall be EUR 910 453 000 000 in current prices.
Amendment 390 #
2023/0199(COD)
Proposal for a regulation
Article 19 – paragraph 1 – point 1
Article 19 – paragraph 1 – point 1
Regulation (EU) 2021/241
Article 7 – paragraph 3
Article 7 – paragraph 3
3. Without prejudice to paragraph 2, Member States may also propose to include in their recovery and resilience plan, as estimated costs, the amount of the cash contribution for the purpose of the Member State compartment pursuant to the relevant provisions of the InvestEU Regulation exclusively for measures supporting investment operations contributing to the STEP objectives referred to in Article 2 of Regulation .../...71 [STEP Regulation]. Those costs shall not exceed 6 % of the recovery and resilience plan’s total financial allocation, and the relevant measures, as set out in the recovery and resilience plan, shall respect the requirements of this Regulation. This limitation shall not apply to the cash contributions made pursuant to Article 33a. _________________ 71 Regulation …/… of the European Parliament and of the Council … [insert full title and OJ reference].
Amendment 392 #
2023/0199(COD)
Proposal for a regulation
Article 19 – paragraph 1 – point 2 a (new)
Article 19 – paragraph 1 – point 2 a (new)
Regulation (EU) 2021/241
New Chapter VII a – Article 33 a (new)
New Chapter VII a – Article 33 a (new)
Amendment 130 #
2023/0156(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) Economic operators meeting certain criteria and conditions to be considered compliant and trustworthy traders by customs authorities can be granted the status of AEO and thereby benefit from facilitations in customs processes. While ensuring that the traders dealing with most of Union trade are trustworthy, the AEO scheme suffers from certain weaknesses highlighted in the evaluation of Regulation (EU) No 952/2013 and in the findings of the European Court of Auditors. To deal with those concerns, in particular about the divergent national practices and challenges regarding AEO compliance monitoring, the rules should be amended to introduce the customs authorities’ obligation to monitor compliance at least every 3 yearevery 2 years taking into account the risk and the number of customs procedures and customs formalities.
Amendment 142 #
2023/0156(COD)
Proposal for a regulation
Recital 56
Recital 56
(56) The Member States and the Commission should be represented on a Management Board, in order to ensure the effective functioning of the EU Customs Authority. The composition of the Management Board, including the selection of its Chairperson and Deputy- Chairperson, should respect the principles of gender balance, experience and qualification. Given the Union’s exclusive competence on the customs union, and the close link between customs and other policy fields, it is appropriate that its chairperson is elected from among those Commission representatives. In view of the effective and efficient functioning of the EU Customs Authority, the Management Board should, in particular, adopt a Single Programming Document including annual and multiannual programming, carry out its functions relating to the Authority’s budget, adopt the financial rules applicable to the Authority, appoint an Executive Director, and establish procedures for taking decisions relating to the operational tasks of the Authority by the Executive Director. The Management Board should be assisted by an Executive Board. A Customs Advisory Board composed of stakeholders is established to to assist the Executive Board and the EU Customs Autority. by giving input on the customs dimensions of other legislation and by sending early warnings in case they have a substantiated concern to suspect that a certain goods imported in the EU is likely to infringe customs legislation or other legislation. The Customs Advisory Board shall include Small Medium Enterprises and take their insights into account
Amendment 144 #
2023/0156(COD)
Proposal for a regulation
Recital 56
Recital 56
(56) The Member States, the European Parliament and the Commission should be represented on a Management Board, in order to ensure the effective functioning of the EU Customs Authority. The composition of the Management Board, including the selection of its Chairperson and Deputy- Chairperson, should respect the principles of gender balance, experience and qualification. Given the Union’s exclusive competence on the customs union, and the close link between customs and other policy fields, it is appropriate that its chairperson is elected from among those Commission representatives. In view of the effective and efficient functioning of the EU Customs Authority, the Management Board should, in particular, adopt a Single Programming Document including annual and multiannual programming, carry out its functions relating to the Authority’s budget, adopt the financial rules applicable to the Authority, appoint an Executive Director, and establish procedures for taking decisions relating to the operational tasks of the Authority by the Executive Director. The Management Board should be assisted by an Executive Board.
Amendment 145 #
2023/0156(COD)
Proposal for a regulation
Recital 58 a (new)
Recital 58 a (new)
(58 a) In recognition of the evolving landscape of global trade, characterized by the increasing prominence of cross- border e-commerce and the necessity for efficient customs controls, this article advocates for the enhanced use of artificial intelligence (AI) and non- intrusive inspection (NII) technologies in customs operations.
Amendment 146 #
2023/0156(COD)
Proposal for a regulation
Recital 59 a (new)
Recital 59 a (new)
(59 a) Whereas the need for a streamlined, efficient, and accessible approach to manage and disseminate information related to unilateral trade measures and customs data management is increasingly vital for the proper functioning of international trade; Recognizing that companies face significant challenges in complying with various unilateral trade measures due to the complexity and fragmentation of information available; Acknowledging that a unified digital interface, known as the "DataHub," would significantly alleviate these challenges by providing a centralized, user-friendly portal for accessing all relevant information; Understanding that such a system would not only facilitate compliance with unilateral trade measures but also reduce the burden on companies in sourcing this information, thereby promoting more coherent and effective application of these measures; And further recognizing the importance of real-time data availability to customs authorities for the monitoring and management of the movement and status of goods; This amendment seeks to establish the DataHub as a comprehensive digital solution that includes a self-assessment tool for companies. This tool aims to assist in evaluating their compliance with import criteria and enhancing the overall efficiency and effectiveness of trade regulation and management. Through this initiative, the amendment aims to foster a more integrated and coherent approach to unilateral trade measures, thereby contributing to a more streamlined and effective international trade environment.
Amendment 148 #
2023/0156(COD)
Proposal for a regulation
Recital 62
Recital 62
(62) It is necessary to establish common provisions for extenuating or mitigating factors, as well as for aggravating circumstances, with regard to the customs infringements. The limitation period for initiatpartnership between customs and industry, particularly since the introduction of the Authorized Economic Operator (AEO), has demonstrated that, with few exceptions, companies are generally compliant. In light of this, in cases of labor errors, the initial focus should be on collaboratively improving the cbustoms infringement proceedings should be established in accordance with national law and should be between 5 and 10 years, so as to provide for a common rule based oniness process, rather than immediately resorting to punitive measures. Corrections to incorrect data in customs declarations must be facilitated to allow for easy rectification. Penalties and the withdrawal of authorizations should be considered as measures of last resort in response to infringements. Furthermore, the impact of penalties on the company must be proportionate, both in terms of the detected offense and its impact on the company. Penalties should be specifically related to duties and taxes actually foregone, excluding transitory items such as VAT. The limitation period for initiating customs infringement proceedings should be established in accordance with national law and should range between 5 and 10 years. This aligns with the time limitation for the notification of customs debt and provides a common rule. The competent jurisdiction should be the one where the infringement was committed. Cooperation between Member States is necessaryessential in cases where the customs infringement has been committoccurred in more than one Member State; i. In such casinstances, the Member State that first initiates the proceedings should cooperate with the other customs authorities concerned by the same customs infringement.
Amendment 153 #
2023/0156(COD)
Proposal for a regulation
Recital 74 a (new)
Recital 74 a (new)
(74 a) Recognizing the importance of cohesive and informed decision-making in customs operations, it is hereby established that the Customs Advisory Board (CAB) shall engage in cooperation with the Domestic Advisory Groups (DAGs) established under Free Trade Agreements (FTAs). The CAB shall take into account the information provided by these DAGs, acknowledging their crucial role in offering insights and perspectives relevant to trade and customs matters. To facilitate this cooperation, DAGs shall be granted access to the data hub. This access is intended to enable them to retrieve information provided by the Commission within the hub. An obligation to ensure such access and information exchange will be established in an amendment under Title III. This provision aims to streamline the process, making the exchange of relevant information between the CAB and DAGs more efficient and effective. By doing so, it enhances the collaborative efforts and shared knowledge base essential for robust and well-informed customs operations under the framework of FTAs.
Amendment 155 #
2023/0156(COD)
Proposal for a regulation
Recital 74 a (new)
Recital 74 a (new)
(74 a) For transparency purposes, interested parties including Domestic Advisory Groups and customs intermediaries may be given observer status within the Customs Advisory Board established and consulted by the Management Board of the EU Customs Authority.
Amendment 156 #
2023/0156(COD)
Proposal for a regulation
Article 1 a (new)
Article 1 a (new)
Article1a This legislation shall be designed in line with the goals of the World Trade Organizations Trade Facilitation Agreement aim to facilitate trade. In this regard 1.1 the customs code of the European Union must establish a reliable framework for the operation of economic stakeholders. 2.1 Adjustments to customs procedures and formalities should be implemented after fulfilling specific communication requirements, where feasible. 2.2 These adjustments will be made only after the customs authorities have provided timely, easily accessible, and understandable information to the economic operators. 3.1 To maintain consistency and reduce complexity, adjustments to customs procedures and formalities will be consolidated and implemented collectively, ideally at the end of the month, wherever feasible.
Amendment 159 #
2023/0156(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point e
Article 2 – paragraph 2 – point e
(e) supporting legitimate business activity, by maintaining a proper balance between customs controls and facilitation of legitimate trade and simplifying customs processes and procedures, through robust real –time risk analysis enabled by the EU Customs Data Hub artificial intelligence capabilities as defined in Article 29 (1) (d).
Amendment 171 #
2023/0156(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 64 b (new)
Article 5 – paragraph 1 – point 64 b (new)
(64 b) “shipment at risk - to be assessed before release in the internal market” means a shipment to be segregated and examined by national customs authorities upon arrival at destination;
Amendment 173 #
2023/0156(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point 64 c (new)
Article 5 – paragraph 1 – point 64 c (new)
(64 c) “incompliant shipment” means a shipment incompliant with EU rules, to be denied for pick up at origin and/or denied for release in the internal market.
Amendment 174 #
2023/0156(COD)
Proposal for a regulation
Article 6 – paragraph 2 – subparagraph 1
Article 6 – paragraph 2 – subparagraph 1
Customs authorities shall, without delay and at the latest within 3014 calendar days of receipt of the application for a decision, verify whether the conditions for the acceptance of that application are fulfilled.
Amendment 175 #
2023/0156(COD)
Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 1
Article 6 – paragraph 3 – subparagraph 1
Except where otherwise provided, the competent customs authority shall take a decision as referred to in paragraph 1 at the latest within 1290 calendar days of the date of acceptance of the application and shall notify the applicant without delay.
Amendment 178 #
2023/0156(COD)
Proposal for a regulation
Article 23 – paragraph 10 a (new)
Article 23 – paragraph 10 a (new)
10 a. 1.1 The participation of Small and Medium-sized Enterprises (SMEs) and Micro, Small, and Medium-sized Enterprises (MSMEs) in external trade is acknowledged as being of central importance to the economy of the European Union. 2.1 It is recognized that SMEs and MSMEs may face challenges in fully complying with the criteria set forth by the Trust & Check Trader program. 2.2 In cases where SMEs and MSMEs are unable to meet the Trust & Check Trader criteria, it shall be ensured that the existing procedural facilitations for exports will continue to be applicable in a comparable form.This is to support the continuous and effective participation of SMEs and MSMEs in external trade. 2.3 The aim is to provide a balanced approach that recognizes the unique challenges faced by SMEs and MSMEs while maintaining the integrity and security of external trade processes. 3.1 Relevant authorities shall offer support and guidance to SMEs and MSMEs to help them understand and strive to meet the criteria of the Trust & Check Trader program. 3.2 Continuous efforts shall be made to simplify and make the procedures more accessible for SMEs and MSMEs, ensuring their vital role in the EU's external trade is facilitated and promoted.
Amendment 193 #
2023/0156(COD)
Proposal for a regulation
Article 29 – paragraph 1 – point a
Article 29 – paragraph 1 – point a
(a) allow forensure the electronic implementation of customs legislation;
Amendment 194 #
2023/0156(COD)
Proposal for a regulation
Article 29 – paragraph 1 – point b
Article 29 – paragraph 1 – point b
(b) ensure, as defined in Article 5, the quality, integrity, traceability and non- repudiation of data processed therein, including the amendment of such data;
Amendment 195 #
2023/0156(COD)
Proposal for a regulation
Article 29 – paragraph 1 – point d
Article 29 – paragraph 1 – point d
(d) enablprovide risk analysis, economic analysis and data analysis, including through the use of artificial intelligence systems in accordance with [the Artificial Intelligence Act 2021/0106 (COD)]65 and data mining techniques and tools ; _________________ 65 Regulation (EU) …./.. of the European Parliament and of the Council (OJ L…,../../…., p..). [OJ: Please insert in the text the number of the Regulation contained in document COM(2021) 206 final, 2021/0106(COD)) and insert the number, date, title and OJ reference of that Directive in the footnote.]
Amendment 196 #
2023/0156(COD)
Proposal for a regulation
Article 29 – paragraph 1 – point e
Article 29 – paragraph 1 – point e
(e) enablsure the interoperability of those services and systems with other electronic systems, platforms or environments for the purpose of cooperation in accordance with Title XIII;
Amendment 197 #
2023/0156(COD)
Proposal for a regulation
Article 29 – paragraph 1 – point f
Article 29 – paragraph 1 – point f
(f) integrcoordinate the Efuropean Union Single Window Certificates Exchange System established by Article 4 of Regulation (EU) 2022/2399ther integration of artificial intelligence into customs systems while preserving ethical standards at every stage of the process;
Amendment 199 #
2023/0156(COD)
Proposal for a regulation
Article 29 – paragraph 5 – subparagraph 2 a (new)
Article 29 – paragraph 5 – subparagraph 2 a (new)
Establishment of a Comprehensive Electronic Data System for Unilateral Trade Measures The comprehensive and user-friendly digital interface, known as the "DataHub.", shall also provide access to all information related to unilateral trade measures.It aims to enhance companies' compliance with these measures without imposing additional burdens in terms of information retrieval.Additionally, it will promote greater coherence among various unilateral measures.The system will also include a self-assessment tool for companies to assess their compliance with import criteria, along with the provision of real-time data to customs authorities concerning the movement and status of goods. 2.1 The DataHub shall offer direct access to all information pertaining to unilateral trade measures, including tariffs, quotas, sanctions, and embargoes. 2.2 The system shall integrate an electronic system providing real-time data to customs authorities on the movement of goods and the compliance of relevant entities with all applicable requirements. 2.3 The interface shall prioritize user experience, ensuring accessibility, organization, and up-to-dateness of information. 3.1 The electronic system integrated shall be integrated within the EU Customs Data Hub as established in Article 29. 4.1 A Self-Assessment Tool for companies to evaluate compliance with import criteria shall be included within the DataHub or easily accessible from the DataHub. 4.2 The tool shall provide a step-by-step guide for self-evaluation against established trade criteria. 4.3 It shall enable companies to generate compliance reports for internal audits and record-keeping. 5.1 The DataHub shall be accessible to businesses, trade organizations, and the public, requiring account creation for full access. 5.2 Regular updates and maintenance will ensure the system’s accuracy and relevance. 5.3 Support services and resources will be available for user assistance and navigation of the DataHub. 5.4 The system will enable data sharing within the EU Customs Data Hub. 5.5 Domestic Advisory Groups, under Free Trade Agreements, will provide information to the DataHub relevant to the applicability or circumvention of unilateral trade measures.This information shall be verified and submitted prior to the annual meeting of the customs advisory boards. 6.1 The Directorate General Taxation and Customs union, in cooperation shall oversee the development, implementation, and maintenance of the DataHub and its integrated electronic system. 6.2 Regular reviews and audits shall ensure the system's effectiveness and compliance with legislative standards. 7.1 Necessary funding and resources shall be allocated for the development, implementation, and continuous improvement of the DataHub and the electronic system.
Amendment 200 #
2023/0156(COD)
Proposal for a regulation
Article 30 – paragraph 1
Article 30 – paragraph 1
1. Member States mayThe EU Customs Authority shall develop the applications necessary for Member States to connect to the EU Customs Data Hub in order to provide data to and process data from the EU Customs Data Hub.
Amendment 202 #
2023/0156(COD)
Proposal for a regulation
Article 30 – paragraph 2
Article 30 – paragraph 2
Amendment 203 #
2023/0156(COD)
Proposal for a regulation
Article 30 – paragraph 3
Article 30 – paragraph 3
3. Where the EU Customs Authority develops an application in accordance with paragraph 21, it shall coordinate with and make it available to all Member States.
Amendment 207 #
2023/0156(COD)
Proposal for a regulation
Article 31 – paragraph 3 – point c a (new)
Article 31 – paragraph 3 – point c a (new)
(c a) to perform robust real-time risk analysis to minimise the responsabilities and liability of legitimate operators.
Amendment 212 #
2023/0156(COD)
Proposal for a regulation
Article 31 – paragraph 11 – point c a (new)
Article 31 – paragraph 11 – point c a (new)
(c a) Relevant data may be made available to third countries’ customs and market surveillance authorities, allowing for cooperation between EU and third countries’ customs authorities to the extent necessary to ensure compliance of imports with EU law. It is imperative that this process incorporates stringent measures for the protection of company data, particularly sensitive information. To this end, the deployment of the best available cybersecurity software and practices will be mandatory to safeguard the integrity and confidentiality of the shared data against any form of unauthorized access or cyber threats.
Amendment 214 #
2023/0156(COD)
Proposal for a regulation
Article 31 – paragraph 11 a (new)
Article 31 – paragraph 11 a (new)
11 a. To ensure the accuracy and reliability of the information provided, a robust verification mechanism shall be implemented. This mechanism will involve a thorough review and validation of the information by the relevant authorities before its inclusion in the EU Customs Data Hub. This process aims to maintain the integrity of the data within the hub and to prevent the dissemination of erroneous or misleading information.
Amendment 216 #
2023/0156(COD)
Proposal for a regulation
Article 31 – paragraph 14 – subparagraph 1 – introductory part
Article 31 – paragraph 14 – subparagraph 1 – introductory part
The Commission shall lay down, by means of implementing acts, rules and modalities for accessing or processing data, including personal and commercially sensitive data, stored or otherwise available in the EU Customs Data Hub by the authorities referred to in paragraphs 6 to 11, as well as confidentiality and accountability rules for all persons with access to the data. In determining those rules and modalities, the Commission shall, for each authority or category of authorities:
Amendment 217 #
2023/0156(COD)
Proposal for a regulation
Article 31 – paragraph 14 – subparagraph 1 – point d
Article 31 – paragraph 14 – subparagraph 1 – point d
(d) consider the need forrequest the authority concerned to designate a specific contact point, person or persons or to provide additional safeguards;
Amendment 218 #
2023/0156(COD)
Proposal for a regulation
Article 43 – paragraph 3 a (new)
Article 43 – paragraph 3 a (new)
3 a. Encouraging the Use of Artificial Intelligence and Non-Intrusive Inspection Technologies in Customs Controls 1.1 Customs authorities are encouraged to incorporate artificial intelligence (AI) and non-intrusive inspection (NII) technologies, such as X-ray scanners, into their operational procedures.This recommendation aims to improve the efficiency and effectiveness of customs inspections, especially in handling the increasing volumes of cross-border e- commerce. 1.2 The application of AI for automated image identification and risk assessment in customs controls is recommended to reduce reliance on manual analysis and to minimize human error. 2.1 The use of advanced image compression technologies for the cost- effective collection, storage, and archiving of X-ray scans is encouraged.This facilitates the creation of a substantial image library, instrumental for training purposes and the development of Automated Threat Detection (ATD) algorithms. 3.1 The integration of Internet of Things (IoT) technology is encouraged to enhance security and efficiency in customs operations.This includes employing sensors in vehicles and containers for effective cargo monitoring and journey tracking, as well as improving communication between X-ray scanners and electronic seals (e-seals) on containers. 3.2 The development of policies and legislation to address privacy and data exchange challenges associated with the use of IoT in customs operations is recommended. 4.1 The deployment of Robotic Process Automation (RPA) in customs operations is encouraged to perform high-volume, repetitive tasks more efficiently than human capability.This includes automating the verification of manifests and declaration submissions, and integrating with optical character recognition systems for rapid verification and correction processes. 5.1 Customs administrations are advised to adopt best practices and continually update their technological strategies to reflect the advancements in AI, IoT, and RPA. 5.2 Regular training and updating of customs personnel are recommended to ensure the effective use of these technologies. 5.3 Compliance with this article will be monitored through periodic reviews, assessing the effectiveness of technology implementation in customs operations.
Amendment 224 #
2023/0156(COD)
Proposal for a regulation
Article 86 – paragraph 5
Article 86 – paragraph 5
5. Non-Union goods in temporary storage shall be placed under a customs procedure no later than 3 days after the notification of their arrival or no later than 6 days after the notification of their arrival in the case of an authorised consignee as referred to in Article 116(4), point (b)90 days follwing their presentation to customs, unless the customs authorities require the goods to be presented. In exceptional cases, that time limit may be extended.
Amendment 231 #
2023/0156(COD)
Proposal for a regulation
Article 207 – paragraph 2 – point a
Article 207 – paragraph 2 – point a
(a) the EU Customs Authority shall contribute to the operational management of the customs union, and thereby coordinate and supervise operational cooperation between customs authorities and pool and provide technical expertise and provide guidance in best practices to increase efficiency and delivery of results;
Amendment 233 #
2023/0156(COD)
Proposal for a regulation
Article 207 – paragraph 2 – point d a (new)
Article 207 – paragraph 2 – point d a (new)
(d a) The EU Customs Authority shall contribute to the mission of customs authorities to support legitimate business activity, by maintaining a proper balance between customs controls, the facilitation of legitimate trade and the simplification of customs processes and procedures by:(i) performing robust risk analysis enabled by the EU Customs Data Hub capabilities, including artificial intelligence as defined in Article 29 (1) (f); and(ii) providing trusted traders with access to real-time risk analysis data made available through the EU Customs Data Hub and categorized with a color code, as follows:- Green for “shipment not at risk” as defined in Article 5(64a new);- Yellow for “shipment at risk to be assessed before release in the internal market”, as defined in Article 5 (64 b new);- Red for “incompliant shipment” to be denied for pick up at origin as defined in Article 5 (64 c new). The color codes provision shall be detailed by way of an implementing act.(iii) avoiding duplication of data requirements on economic operators,(iv) minimizing the administrative burden and responsibilities of legitimate operators established in the Union with regards to data reporting, including through measures providing for the direct submission of non-financial data requirements by importers and exporters at origin; and(v) submitting on a yearly basis a series of recommendations to improve customs facilitation and to ensure a fair and balanced level of liability for trusted traders.
Amendment 235 #
2023/0156(COD)
Proposal for a regulation
Article 208 – paragraph 3 – point g b (new)
Article 208 – paragraph 3 – point g b (new)
(g b) ensure the emission of simplified guidelines and manuals for SMEs and support their familiarisation with customs legislation and formalities and ensure that no unnecessary burdens on SMEs are added in the EU legislative process;
Amendment 237 #
2023/0156(COD)
Proposal for a regulation
Article 211 – paragraph 1 – point d a (new)
Article 211 – paragraph 1 – point d a (new)
(d a) a Customs Advisory Board who shall exercise the functions set out in Article 221 a(new)
Amendment 242 #
2023/0156(COD)
Proposal for a regulation
Article 212 – paragraph 2
Article 212 – paragraph 2
2. The Management Board shall also include onetwo members designated by the European Parliament, without the right to vote.
Amendment 245 #
2023/0156(COD)
Proposal for a regulation
Article 212 – paragraph 5 a (new)
Article 212 – paragraph 5 a (new)
5 a. The Customs Advisory Board referred to in Article 211- (e) ( new) shall appoint four of its members to participate with observer status in the Management Board. They shall represent, as broadly as possible, the different views represented in the Advisory Body. The initial term of office shall be 48 months and shall be extendable.
Amendment 246 #
2023/0156(COD)
Proposal for a regulation
Article 214 – paragraph 4
Article 214 – paragraph 4
4. The Management Board mayshall invite any person whose opinion may be of interest to attend its meetings as an observer., namely representatives designated to the Customs Advisory Board as defined in Article Article 215 – paragraph 1 – point v a (new)
Amendment 250 #
2023/0156(COD)
Proposal for a regulation
Article 215 – paragraph 1 – point v a (new)
Article 215 – paragraph 1 – point v a (new)
(v a) Participation of Third Counties Representtaives as observers in the Customs Advisory Board may be possible when conditions for such participation are established in EU Agreemnts and when reciprocity is met.
Amendment 251 #
2023/0156(COD)
Proposal for a regulation
Article 216 – paragraph 2 a (new)
Article 216 – paragraph 2 a (new)
2 a. The decision referred to in Article 215(1), points (b), (c), (d), (f), (j), (m), (o) and (s) may only be taken if the representatives of the European Parliament cast a positive vote.
Amendment 252 #
2023/0156(COD)
Proposal for a regulation
Article 221 – paragraph 1 a (new)
Article 221 – paragraph 1 a (new)
The Customs Advisory Board Article 221a Customs Advisory Board 1.A Customs Advisory Board is established to assist the Executive Board and the EU Customs Autority. 2.The Customs Advisory Board is tasked to: (a) give input on the customs dimensions of other legislation; (b) send early warnings in case they have a substantiated concern to suspect that that a certain goods imported in the EU products is likely to infringe customs legislation or other legislation. 3.The Customs Advisory Board (CAB) shall be composed of at least seven representatives of civil society organisations, including at least one-pan European consumer organisation, two employers and two employee's federation, a pan-European trade union and at least one SMEs employer's organization.The CAB adopts its rules of procedure 6 months after the appointment of its members.The Commission will ensure the secretariat.The CAB takes its decisions on a consensual basis.The mandate of the members shall be 4 years and shall be renewable. 4.The Customs Advisory Board shall hold at least one ordinary meeting every six months.In addition, it shall meet at the request of the EU Customs Authority or Executive Board. 5.The Customs Advisory Board shall exchange information in-between the ordinary meeting. 6. Domestic Advisory Groups (DAG) established under FTAs shall provide input relevant for early warnings on illegal trade or other risks of circumvention of existing EU legislation. The information by DAGs may be provided up to two weeks prior to the ordinary meeting of the CAB through the specific platform in the data hub.
Amendment 253 #
2023/0156(COD)
Proposal for a regulation
Article 247 – paragraph 1
Article 247 – paragraph 1
1. 1. Whenre the person responsible for an act or an omission which has resultinged in a customs infringement referred to in Article 252 provides the evidence that that person acted in good faith, it is taken into account in determining the sanction referred to in Article 254within the meaning of Article 252 proves that he acted in good faith good faith, this shall be taken into account when determining the penalty referred to in Article 254. referred to in Article 254. Priority shall be given to improving the company's processes in partnership in order to prevent errors before any sanction is imposed. (2) When reducing the sanction to be imposed for the customs offence, the following circumstances the following circumstances shall be taken into account: (a) the goods in question are not subject to the other legislation applied by the customs authorities applied by the customs authorities; (b) the customs offence does not have a significant impact on the determination of the amount of amount of customs duties and other charges to be paid; (c) the person responsible for the infringement co- operates effectively with with the customs authority; (d) the previous experience with the economic operator; (e) the complexity of the underlying transaction, the number of similar transactions; (f) the clarity of the provisions to be complied with; (g) the rectification of incomplete or erroneous information by subsequent data transmission.
Amendment 255 #
2023/0156(COD)
Proposal for a regulation
Article 254 – paragraph 1 – introductory part
Article 254 – paragraph 1 – introductory part
Non-criminal sanctions shall only be imposed if deemed necessary after considering all circumstances. Priority must be given to preventing future errors. Where sanctions to customs infringements referred to in Article 252 are applied, they shall take at least one or several of the following forms, while ensuring that sanctions are effective, proportionate and dissuasive and taking into account extenuating and mitigating circumstances referred to in Article 247 and aggravating circumstances referred to in Article 248:
Amendment 256 #
2023/0156(COD)
Proposal for a regulation
Article 254 – paragraph 1 – point a – point i – point 1
Article 254 – paragraph 1 – point a – point i – point 1
(1) where the customs(1) For an infringement has been committed "intentionally," — defined as an act undertaken with knowledge and deliberate intent to evade customs duties — the pecuniary charge shall comprise an amount equal to between 100% and 200% of the de facto amount of customs duties and other charges eluded;.
Amendment 257 #
2023/0156(COD)
Proposal for a regulation
Article 254 – paragraph 1 – point a – point i – point 2
Article 254 – paragraph 1 – point a – point i – point 2
(2) (2) in other cases, the pecuniary charge shall comprise an amount equal to between 310% and 1020% of the actual amount of customs duties and other charges eluded; (ii) where it is not possible to calculate the pecuniary charge in accordance with point (i), the pecuniary charge shall be calculated based on the customs value of the goods, as follows:
Amendment 258 #
2023/0156(COD)
Proposal for a regulation
Article 254 – paragraph 1 – point a – point ii – point 1
Article 254 – paragraph 1 – point a – point ii – point 1
(1) where the customs infringement has been committed intentionally, the pecuniary charge shall comprise an amount equal to between 100% and 200% of the actual amount of the customs value of the goods;
Amendment 259 #
2023/0156(COD)
Proposal for a regulation
Article 254 – paragraph 1 – point a – point ii – point 2
Article 254 – paragraph 1 – point a – point ii – point 2
(2) in other cases, the pecuniary charge shall comprise an amount equal to between 30% and 100% of the actual amount of the customs value of the goods;
Amendment 260 #
2023/0156(COD)
Proposal for a regulation
Article 254 – paragraph 1 – point a – point iii
Article 254 – paragraph 1 – point a – point iii
(iii) where the customs infringement is not related to specific goods, the pecuniary charge shall comprise an amount equal to between EUR 150 and EUR 150 20.000;
Amendment 263 #
2023/0156(COD)
Proposal for a regulation
Article 256 – paragraph 4
Article 256 – paragraph 4
4. The Commission shall verify the report and transmit it afterwards to the Member StatesEuropean Parliament and Council for information.
Amendment 265 #
2023/0156(COD)
Proposal for a regulation
Article 265 – paragraph 1
Article 265 – paragraph 1
1. Articles 205 to 237 shall apply from 1 January 20286.
Amendment 266 #
2023/0156(COD)
Proposal for a regulation
Article 265 – paragraph 2 – introductory part
Article 265 – paragraph 2 – introductory part
2. The following provisions shall apply from 1 March 20286:
Amendment 267 #
2023/0156(COD)
Proposal for a regulation
Article 265 – paragraph 3
Article 265 – paragraph 3
3. The functionalities of the EU Customs Data Hub laid down in Article 29 shall be fully operational by 31 December 20327.
Amendment 268 #
2023/0156(COD)
Proposal for a regulation
Article 265 – paragraph 4
Article 265 – paragraph 4
4. Economic operators may start fulfilling their reporting obligations under this Regulation by using the EU Customs Data Hub from 1 March 20328.
Amendment 269 #
2023/0156(COD)
Proposal for a regulation
Article 265 – paragraph 5
Article 265 – paragraph 5
5. The customs authorities shall reassess the authorisations granted pursuant to Regulation (EU) No 952/2013 from 1 January 20352 to 31 December 20375.
Amendment 270 #
2023/0156(COD)
Proposal for a regulation
Article 265 – paragraph 6
Article 265 – paragraph 6
6. Before 31 December 20276, the Commission shall present a report to the European Parliament and to the Council providing an assessment of centralised clearance referred to in Article 72. If appropriate, the Commission may present a legislative proposal with a view to ensuring a fair distribution of the rights and obligations of the Member States in connection with the assessment of and liability for the customs debt at import.
Amendment 271 #
2023/0156(COD)
Proposal for a regulation
Article 265 – paragraph 7 – introductory part
Article 265 – paragraph 7 – introductory part
7. By 31 December 20352, the Commission shall present a report to the European Parliament and to the Council to assess, in particular:
Amendment 15 #
2023/0137(CNS)
Proposal for a regulation
Recital 6
Recital 6
(6) The economic governance framework of the Union should put debt sustainability and sustainable and inclusive growth at its core and therefore differentiate between Member States by taking into account their public debt challenges and allowing country-specific fiscal trajectories.
Amendment 17 #
2023/0137(CNS)
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6a) Government budgets can be brought in line either by spending reductions or revenue increases. As such this regulation should be neutral in the way governments seek to reduce their levels of debt and deficit, and should not prioritise cuts in public expenditures over increases in tax revenue;
Amendment 22 #
2023/0137(CNS)
Proposal for a regulation
Recital 8
Recital 8
(8) In order to simplify the Union fiscal framework and increase transparency, a single operational indicator anchored in debt sustainability should serve as a basis for setting the fiscal path and carrying out annual fiscal surveillance for each Member State. That single indicator should be based on nationally financed net primary expenditure, that is to say expenditure net of discretionary revenue measures and excluding interest expenditure as well as cyclicalexpenditure on programmes of the Union fully matched by Union funds revenue, national expenditure on co- financing of programmes funded by the Union cap with a limit of 0.25% of GDP, cyclical elements of unemployment benefit expenditure, and expenditure on Union programmes fully matched by revcosts related to the borrowing of funds for the loans related to the national plans in accordance with the Recovery and Resilienuce from Union fundsFacility in accordance with Regulation (EU) 2021/241. This indicator allows for macro-economic stabilisation as it is not affected by the operation of automatic stabilisers, including revenue and expenditure fluctuations outside the direct control of the government.
Amendment 35 #
2023/0137(CNS)
Proposal for a regulation
Recital 13
Recital 13
(13) In accordance with Articles 24 and 25 of Regulation (EU) [on the preventive arm], the Council, following a recommendation from the Commission, can allow Member States to deviate from the net expenditure path set by the Council under that Regulation in the event of a severe economic downturn in the euro area or the Union as a whole, or in the event of exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned, provided that it does not endanger fiscal sustainability in the medium term or where Member States implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12 of Regulation (EU) [on the preventive arm], and adhering to the reforms and investments outlined in national plans, including those of the Recovery and Resilience Facility, Cohesion Funds, and future EU investment instruments designed to serve similar purposes. As a consequence, such a deviation should not lead to the opening of a debt-based EDP.
Amendment 57 #
2023/0137(CNS)
Proposal for a regulation
Recital 21 a (new)
Recital 21 a (new)
(21a) A strong track record of commitments and implementation rate of reforms and investments approved under the Recovery and Resilience Plan of the Member State, as well on its Partnership Agreement for the Cohesion Funds, should be taken into account for the Commission to halt its proposal to the Council to suspend all or part of the commitments or payments of these two instruments as stated in Article 10(1) and Article 19(7) of the Recovery and Resilience Facility Regulation , respectively.
Amendment 67 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 1 – paragraph 2 – point b
Article 1 – paragraph 2 – point b
(b) ‘net expenditure’ means government expenditure net of interest expenditure, discretionary revenue measures and other budgetary variables outside the control of the government, as defined in Annex II, point (a) of Regulation (EU) of the European Parliament and of the Council [on the preventive arm]*; , expenditure on programmes of the Union fully matched by Union funds revenue, national expenditure on co- financing of programmes funded by the Union cap with a limit of 0.25% of GDP, cyclical elements of unemployment benefit expenditure, and costs related to the borrowing of funds for the loans related to the national plans in accordance with the Recovery and Resilience Facility in accordance with Regulation (EU) 2021/241;
Amendment 76 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 1 – paragraph 2 – point c
Article 1 – paragraph 2 – point c
(c) ‘technical'reference trajectory’ means the net expenditure trajectory put forward by the Commission in accordance with Regulation (EU) [on the preventive arm]each Member State and negotiated after with the Commission to provide guidance to Member States with public debt above the 60% of gross domestic product (GDP) reference value or government deficit above the 3% of GDP reference value when drawing up their national medium- term fiscal-structural plans;
Amendment 83 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 1
Article 2 – paragraph 1
The excess of a government deficit over the reference value shall be considered exceptional, in accordance with Article 126(2), second indent, point (a), of the Treaty on the Functioning of the European Union (TFEU), where the Council has established the existence of a severe economic downturn in the euro area or the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm] or of exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned, or where Member States implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12 of Regulation (EU) [on the preventive arm], and adhering to the reforms and investments outlined in national plans, including those of the Recovery and Resilience Facility, Cohesion Funds, and future EU investment instruments designed to serve similar purposes in accordance with Article 25 of Regulation (EU) [on the preventive arm].
Amendment 85 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 1 – subparagraph 2
Article 2 – paragraph 1 – subparagraph 2
In addition, the excess over the reference value shall be considered temporary where budgetary forecasts as provided by the Commission and the Member State indicates that the deficit will fall belowis on a downward path towards the reference value following the end of the severe economic downturn or the exceptional circumstances referred to in the first subparagraph.
Amendment 90 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 1a
Article 2 – paragraph 1a
1a. When it exceeds the reference value, the ratio of the government debt to gross domestic product (GDP) shall be considered sufficiently diminishing and approaching the reference value at a satisfactory pace in accordance with Article 126(2), point (b), TFEU if the Member State concerned respectsfollows within a sustainable range its net expenditure path.
Amendment 105 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 1
Article 2 – paragraph 3 – subparagraph 1
The Commission, when preparing a report under Article 126(3) TFEU, shall take into account as a key relevant factor the degree of debt challenges in the Member State concerned. In particular, where the Member State faces substantial public debt challenges according to the most recent Debt Sustainability Monitor, it shall be considered a key factor leading to the opening of an excessive deficit procedure as a rule, national public investment gaps and needs to achieve the common priorities of the Union as stated in the Article 12 of Regulation (EU) on the preventive arm], in the Member State concerned.
Amendment 121 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 2 a (new)
Article 2 – paragraph 3 – subparagraph 2 a (new)
The Commission shall take into account as a key relevant factor to prevent the opening of a EDP the delivery and commitment by the Member State on the implementation of the investments and reforms to address the common priorities of the Union as stated in the Article 12 of the Regulation (EU) [on the preventive arm], but also the reforms and investments committed in the national plans of the Recovery and Resilience Facility, Cohesion Funds and future EU investments instruments that serve the same purpose.
Amendment 129 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 3 – point b
Article 2 – paragraph 3 – subparagraph 3 – point b
(b) the developments in the medium- term budgetary positions, including, in particular, the size of the actual deviation from the net expenditure path, in annual and cumulative terms as measured by the control account, and the extent to which the deviation is due to a severe economic downturn in the euro area or in the Union as a whole or to exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned in accordance with Articles 24 and 25 of Regulation (EU) [on the preventive arm]. Where relevant, the deviation compared to the technical trajectory shall also be taken into account when considering the size of the deviation;
Amendment 134 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 3 – point c a (new)
Article 2 – paragraph 3 – subparagraph 3 – point c a (new)
(ca) the progress in addressing national public investment gaps in alignment with the priorities of the Union as stated in Article 12 of Regulation (EU) [on the preventive arm], recognising that these investments play a pivotal role in supporting the fulfilment of Union objectives and ensuring sustainable and inclusive growth and fiscal stability;
Amendment 139 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
(d) the implementation of reforms and investments including, in particular policies to prevent and correct excessive macroeconomic imbalances and policies to implement the common growth and employment strategy of the Union and the European Pillar of Social Rights, including those supported by NextGenerationEU, Cohesion Funds and EU investments instruments that serve the same purpose, and the overall quality of public finances, in particular the effectiveness of national budgetary frameworks.
Amendment 147 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 4
Article 2 – paragraph 3 – subparagraph 4
The Commission shall give due and express consideration to any other factors which, in the opinion of the Member State concerned, are relevant in order to comprehensively assess compliance with deficit and debt criteria and which the Member State has put forward to the Council and the Commission. In that context, particular consideration shall be given to financial contributions to fostering international solidarity and, achieving the policy goals of the Union. The opinion submitted to the Commission by the Member State concEU common priorities of the Union, the size of the public investment committed to address the priorities refernred shall include the opinion of its national independent fiscal institution on relevant factorsin Article 12ba) of Regulation (EC) No 1466/97 and any other relevant factors outside of the control of the Member State.
Amendment 156 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 4 – subparagraph 1
Article 2 – paragraph 4 – subparagraph 1
The Council and the Commission shall make a balanced overall assessment of all the relevant factors, specifically, the extent to which they affect the assessment of compliance with the deficit and/or the debt criteria as aggravating or mitigating factors.
Amendment 161 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 4 – subparagraph 2
Article 2 – paragraph 4 – subparagraph 2
Amendment 165 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 3
Article 2 – paragraph 3 – subparagraph 3
Amendment 170 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 5
Article 2 – paragraph 5
5. Where Member States are allowed to deviate from their net expenditure path in the event of a severe economic downturn in the euro area or in the Union as a whole pursuant to Article 24 of Regulation (EU) [on the preventive arm], the Commission and the Council, in their assessment, mayshall decide not to conclude on the existence of an excessive deficit.
Amendment 173 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Council Regulation (EC) No 1467/97
Article 2 – paragraph 6
Article 2 – paragraph 6
If the Council, acting under Article 126(6) TFEU, decides that an excessive deficit exists in a Member State, the Council and the Commission shall, in the subsequent procedural steps of that Article of the TFEU, take into account the relevant factors referred to in paragraph 3 of this Article, as they affect the situation of the Member State concerned, including as specified in Article 5(2) of this Regulation, in particular in establishing a deadline for the correction of the excessive deficit and eventually extending that deadline. However, those relevant factors shall not be taken into account for the decision of the Council under Article 126(12) TFEU on the abrogation of some or all of its decisions under Article 126(6) to (9) and (11) TFEU.’;
Amendment 183 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Council Regulation (EC) No 1467/97
Article 3 – paragraph 4 – subparagraph 1
Article 3 – paragraph 4 – subparagraph 1
The Council recommendation made in accordance with Article 126(7) TFEU shall establish a maximum deadline of sixtwelve months for effective action to be taken by the Member State concerned. WThen warranted by the seriousness of the situation, the deadline for effective action may be three months. The Council recommenda Council recommendation may also establish a deadline for the correction of the excessive deficit ensuring a sustainable and balanced correction sthall also establish a deadlint does not endanger sustainable and inclusive growth, social convergence for the correction of the excessive defimplementation of significant investments and social policites. In its recommendation, the Council shallmay also request that the Member State implements a correctivenew net expenditure path, which ensures that the general government deficit remains or is brought and maintained below the reference value within the deadline set in the recommendation. For the years when the general government deficit is expected to exceed the reference value, the corrective net expenditure path shall be consistent with a minimum annual adjustment of at least 0,5% of GDP as a benchmark.is declining towards a reference value
Amendment 193 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Council Regulation (EC) No 1467/97
Article 3 – paragraph 4 – subparagraph 2
Article 3 – paragraph 4 – subparagraph 2
The corrective net expenditure path shall also put the debt ratio on a plausibly and sustainable downward path or keep it at a prudent level having regard to the criteria established in Annex I of Regulation (EU) [on the preventive arm]. The corrective net expenditure path shall ensure that the average annual fiscal adjustment eff and prevent the occurrence ort in the first three years is at least as high as the average annual fiscal effort of the total adjustment periodcentives to pro-cyclical policies.
Amendment 198 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Council Regulation (EC) No 1467/97
Article 3 – paragraph 5
Article 3 – paragraph 5
5. Within the deadline provided for in paragraph 4 of this Article, the Member State concerned shall report to the Council and the Commission on action taken in response to the Council’s recommendation under Article 126(7) TFEU. The report shall include the targets for government expenditure and revenue and for the discretionary measures on both the expenditure and the revenue side consistent with the Council’s recommendation, as well as information on the measures taken and the nature of those envisaged to achieve the targets. The report shall also include the opinion of the independent fiscal institution of the Member State concerned on the adequacy of the measures taken and envisaged with respect to the targets. The Member State shall make the report public.
Amendment 205 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EC) No 1467/97
Article 3 – paragraph 6
Article 3 – paragraph 6
Amendment 214 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a
Article 1 – paragraph 1 – point 4 – point a
Council Regulation (EC) No 1467/97
Article 5 – paragraph 1 – subparagraph 1
Article 5 – paragraph 1 – subparagraph 1
Any Council decision to give notice to the participating Member State concerned to take measures for the deficit reduction in accordance with Article 126(9) TFEU shall be taken within two months of the Council decision under Article 126(8) TFEU establishing that no effective action has been taken. In the notice, the Council shall request that the Member State implements a corrective net expenditure path which ensures that the general government deficit remains or is brought and maintained belowclose to the reference value within the deadline set in the notice. For the years where the general government deficit is expected to exceed the reference value, the corrective net expenditure path shall be consistent with a minimum annual adjustment of at least 0,5% of GDP as a benchmark.
Amendment 224 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a
Article 1 – paragraph 1 – point 4 – point a
Council Regulation (EC) No 1467/97
Article 5 – paragraph 1 – subparagraph 2
Article 5 – paragraph 1 – subparagraph 2
The corrective net expenditure path shall also put the debt ratio on a plausibly and sustainable downward path or keep it at a prudent level having regard to the criteria established in Annex I of Regulation (EU) [on the preventive arm]. The corrective net expenditure path shall ensure that the average annual fiscal adjustment effort in the first three years is at least as high as the average annual fiscal effort of the total adjustment period. The Council shall also indicate measures conducive to the achievement of the corrective net expenditure path.;
Amendment 230 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point b
Article 1 – paragraph 1 – point 4 – point b
Regulation (EC) No 1467/97
Article 5 – paragraph 2
Article 5 – paragraph 2
2. Where effective action has been taken in compliance with a notice under Article 126(9) TFEU or where exceptional circumstances outside the control of the government with major impact on the public finances of the Member State concerned, including on the respect of the corrective net expenditure path referred to in paragraph 1 of this Article, or where Member States implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12 of Regulation (EC) No 1466/97, and adhering to the reforms and investments outlined in national plans, including those of the Recovery and Resilience Facility, Cohesion Funds, and future EU investment instruments designed to serve similar purposes, occur after the adoption of that notice, the Council may decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) TFEU. The revised notice, taking into account the relevant factors referred to in Article 2(3) of this Regulation may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule. In case the Council has established the existence of a severe economic downturn in the euro area or in the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm], the Council may also decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) TFEU, on condition that it does not endanger fiscal sustainability in the medium term. The revised notice may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule.’;
Amendment 241 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Council Regulation (EC) No 1467/97
Article 8 – paragraph 3
Article 8 – paragraph 3
3. A Council decision shall only be taken pursuant to Article 126(12) TFEU where budgetary forecasts as provided by the Commission and the Member State indicate that the deficit has been brought durably belowclose to the reference value and, where the excessive deficit procedure was opened on the basis of the debt criterion, the Member State concerned respectfollowed the corrective net expenditure path set by the Council in accordance with Article 3(4) or Article 5(1) of this Regulation over the previous 2 years and is projected to continue to do so in the current year on the basis of the Commission forecast.;
Amendment 245 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Council Regulation (EC) No 1467/97
Article 9 – paragraph 1 – point ba (new)
Article 9 – paragraph 1 – point ba (new)
(ba) where the participating Member State returns to its original net expenditure path as assessed in accordance with Article 8 of Regulation EU [on the preventive arm];
Amendment 255 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b
Article 1 – paragraph 1 – point 9 – point b
Council Regulation (EC) No 1467/97
Article 10a – paragraph 2
Article 10a – paragraph 2
2. Following the adoption by the Council of a notice under Article 126(9) TFEU, the Commission shall carry out a dedicated surveillance mission to the Member State concerned to discuss the measures that the Member State intends to take in response to the measures judged necessary following the notice under Article 126(9) TFEU. Upon invitation by the parliament of the Member State concerned, the Commission may present its assessment of the economic and fiscal situation in the Member State. Enhanced surveillance may be undertaken for Member States which are the subject of recommendations and notices issued following a decision pursuant to Article 126(8) TFEU and decisions under Article 126(11) TFEU for the purposes of on-site monitoring. The Member States concerned shall provide all necessary information for the preparation and the conduct of the surveillance mission.;
Amendment 260 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 9 a (new)
Article 1 – paragraph 1 – point 9 a (new)
(9a) Article 11 is replaced by the following: "Article 11 "Whenever the Council decides under Article 126(11) TFEU to impose sanctions on a participating Member State, a fine shall, as a rule, be required. The Council may decide to supplement such a fine by the other measures provided for in Article 126(11) TFEU. A strong track record of commitments and implementation rate of reforms and investments approved under the Recovery and Resilience Plan of the Member State, as well on its Partnership Agreement for the Cohesion Funds, should be taken into account for the Commission to halt its proposal to the Council to suspend all or part of the commitments or payments of these two instruments as stated in Article 10(1) of the RRF regulation and Article 19(7), respectively. "
Amendment 264 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Council Regulation (EC) No 1467/97
Article 12 – paragraph 1
Article 12 – paragraph 1
1. The amount of the fine shall amount to up to 0,051% of GDP for a 6- month period and be paid every 6 months until the Council assesses that the Member State concerned has taken effective action in response to the notice issued under Article 126(9) TFEU.
Amendment 269 #
2023/0137(CNS)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Council Regulation (EC) No 1467/97
Article 12 – paragraph 3
Article 12 – paragraph 3
3. The cumulated amount of the fines referred to in paragraphs 1 and 2 shall not exceed 0,52 % of GDP.;
Amendment 16 #
2023/0136(NLE)
Proposal for a directive
Recital 11
Recital 11
(11) Biased and unrealistic macroeconomic and budgetary forecasts for the annual and multiannual budget legislations can considerably hamper the effectiveness of fiscal planning and consequently impair commitment to budgetary discipline. To improve baseline assumptions and provide unbiased assessments of the fiscal impact of various policy measures, the macroeconomic and budgetary forecasts of the Member States should be endorsed or producproduced or supported by an independent fiscal institution.
Amendment 20 #
2023/0136(NLE)
Proposal for a directive
Recital 13
Recital 13
(13) Independent bodies charged with monitoring public finances in the Member States are an essential building block ofcan be a support to develop effective budgetary frameworks. Regulation (EU) No 473/2013 of the European Parliament and of the Council28 requires Member States whose currency is the euro to have independent fiscal institutions tasked with the endorsement or productionproduction or support of macroeconomic forecasts and establishes specific safeguards regarding their independence and technical capacity. Given the positive contribution to public finance of independent bodies, those requirements should be extended to all Member States. In order to foster fiscal discipline and strengthen the credibility of fiscal policy, such bodies should also contribute to budgetary planning by either producing or endsupporsting the forecasts and debt analyses used by the government, and by carrying out independent assessments of fiscal policies and monitoring compliance with the fiscal framework. __________________ 28 Regulation (EU) No 473/2013 of the European Parliament and of the Council of 21 May 2013 on common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area (OJ L 140, 27.5.2013, p. 11).
Amendment 38 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 3 – point a Directive 2011/85/EU
Article 4 – paragraph 1
Article 4 – paragraph 1
1. Member States shall ensure that annual and multiannual fiscal planning is based on realistic macroeconomic and budgetary forecasts using the most up-to- date information. Budgetary planning shall be based on the most likely macrofiscal scenario or on a more prudent scenario. The macroeconomic and budgetary forecasts shall be either produced or endorsed by independent fiscal institutions established in accordance with Article 8. They shall be compared with the most updated forecasts of the Commission. Significant differences between the macroeconomic and budgetary forecasts of the Member State and the Commission’s forecasts shall be explained, including where the level or growth of variables in external assumptions departs significantly from the values contained in the Commission’s forecasts.
Amendment 47 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 3 – point c Directive 2011/85/EU
Article 4 – paragraph 5
Article 4 – paragraph 5
5. Member States shall specify which institution is responsible for producing macroeconomic and budgetary forecasts. At least annually, the Member States and the Commission shall engage in a technical dialogue concerning the assumptions underpinning the preparation of macroeconomic and budgetary forecasts.
Amendment 50 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 3 – point c Directive 2011/85/EU
Article 4 – paragraph 6
Article 4 – paragraph 6
Amendment 54 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 5 – point a Directive 2011/85/EU
Article 6 – paragraph 1 – point b
Article 6 – paragraph 1 – point b
Amendment 56 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 5 – point b Directive 2011/85/EU
Article 6 – paragraph 2
Article 6 – paragraph 2
If numerical fiscal rules contain escape clauses, such clauses shall set out a limited number of specific circumstances, consistent with the Member States’ obligations deriving from the TFEU and Regulation [XXX preventive arm of the SGP], and stringent procedures in which temporary non-compliance with the rules is permitted. Escape clauses shall have clear time limits.
Amendment 65 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 8 Directive 2011/85/EU
Article 8 – paragraph 4
Article 8 – paragraph 4
4. Member States shall ensure that the iInstitutions referred to in paragraph 1 have the following tasks:
Amendment 66 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 8 Directive 2011/85/EU
Article 8 – paragraph 4 – point a
Article 8 – paragraph 4 – point a
(a) producing or supporting the annual and multiannual macroeconomic and budgetary forecasts underlying the government’s medium-term planning or endorsing those used by the budgetary authorities;
Amendment 73 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 8 Directive 2011/85/EU
Article 8 – paragraph 4 – point b
Article 8 – paragraph 4 – point b
(b) producing or supporting debt sustainability assessments underlying the government’s medium-term planning or endorsing those provided by the budgetary authorities;.
Amendment 77 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 8 Directive 2011/85/EU
Article 8 – paragraph 4 – point c
Article 8 – paragraph 4 – point c
(c) producing or supporting assessments on the impacts of policies on fiscal sustainability and sustainable and inclusive growth or endorsing those provided by the budgetary authorities;
Amendment 79 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 8 Directive 2011/85/EU
Article 8 – paragraph 4 – point d
Article 8 – paragraph 4 – point d
Amendment 80 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 8 Directive 2011/85/EU
Article 8 – paragraph 4 – point e
Article 8 – paragraph 4 – point e
Amendment 82 #
2023/0136(NLE)
(f) conducting, on a regular basis, reviews of the national budgetary framework, in order to assess the consistency, coherence and effectiveness of the framework, including mechanisms and rules that regulate fiscal relationships between public authorities across sub- sectors of general government;.
Amendment 90 #
2023/0136(NLE)
Proposal for a directive Sole Article – Paragraph 1 – point 9 – point b – point ii Directive 2011/85/EU
Article 9 – paragraph 2 – point c
Article 9 – paragraph 2 – point c
(c) a description of medium-term policies, including investment and reforms, and if applicable, specifying the investments and reforms in EU common priorities, envisaged with an impact on general government finances and sustainable and inclusive growth, broken down by major revenue and expenditure item, showing how the adjustment towards the national budgetary objectives over the medium term as referred to in Article 2, point (e), is achieved compared to projections under unchanged policies.;
Amendment 1 #
2023/0038M(NLE)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
– having regard to its resolution of 6 October 2022 on the outcome of the Commission’s review of the 15-point action plan on trade and sustainable development,
Amendment 14 #
2023/0038M(NLE)
Motion for a resolution
Recital A
Recital A
A. whereas the EU and New Zealand are like-minded partners who share fundamental values, such as respect for human rights, democracy and the rule of law, and both support a rules-based trading system, with the World Trade Organization (WTO) as its centrepiece;
Amendment 17 #
2023/0038M(NLE)
Motion for a resolution
Recital B
Recital B
B. whereas New Zealand is situated in the dynamic and strategically important Indo-Pacific region ; whereas New Zealand is a member of the Comprehensive and Progressive Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership;
Amendment 27 #
2023/0038M(NLE)
Motion for a resolution
Recital G
Recital G
G. whereas this is the first EU trade agreement aligned with the EU’s new approach to trade and sustainable development, which includes enforceable provisions with sanctions as a last resort;
Amendment 33 #
2023/0038M(NLE)
Motion for a resolution
Recital H
Recital H
H. whereas open and fair trade is one of the four pillars of the EU’s Green Deal industrial plan;
Amendment 35 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Considers this agreement to be of major significance for bilateral relations between the EU and New Zealand and the promotion of rules- and values-based trade, bringing benefits beyond purely economic gains;
Amendment 38 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Welcomes the fact that, a the agreement is comprehensive, economically balanced and it is the most ambitious and comprehenprogressive EU trade deal ever concluded,to date on sustainability; highlights that the agreement delivers on the priorities set out in Parliament’s resolutions of 25 February 2016 and 26 October 2017; notes that the agreement includes a dispute settlement mechanism to ensure that the rights and obligations contained therein are respected, so that businesses, workers and consumers can enjoy its benefits;
Amendment 42 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Takes noteStrongly welcomes that the agreement integrates, for the first time, the new EU approach to trade and sustainable development and incorporates an unprecedented level of environmental and labour commitments to effectively implement fundamental International Labour Organization (ILO) conventions ratified by the parties and the Paris Agreement; points outstrongly welcomes the possibility of trade sanctions as a last resort, in instances of serious violations of the Paris Agreement and the core ILO standards; believes that the FTA sets a benchmark in this area; is aware that these levels may not be matched by future FTAs with less like-minded partners; calls on both parties to define a set of guiding principles to be considered essential to achieving the objectives of the Paris Agreement; expects concrete progress within a reasonable timeframe on the part of New Zealand towards the ratification and effective implementation of the two remaining ILO core conventions (No. 87 on freedom of association and the right to organise, and No. 138 on minimum wage), in accordance with the commitments laid down in the agreement; welcomes that the EU and New Zealand agreed to reflect the ILO recent decision to add occupational health and safety to core labour standards, as appropriate; welcomes that the agreement has a trade and gender equality article under the trade and sustainable development chapter and calls on both parties to promote women’s empowerment and gender equality; welcomes a dedicated provision on trade and fossil fuel subsidies reform and calls on the parties to intensify engagement on this issue at the WTO; welcomes that the agreement liberalises green goods and services at entry into force, with a list of such goods and services, and calls for a regular reviewing of this list; points out that the EU and New Zealand will cooperate on circular economy, deforestation-free supply chains and carbon pricing; stresses that the agreement includes a non-regression clause prohibiting the parties to weaken, reduce or fail to enforce labour and environmental standards to encourage trade; believes that the FTA sets a new benchmark to other trading partners in the area of sustainable trade;
Amendment 56 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Believes that the agreement will level the playing field with other trading partners that already have FTAs with New Zealand; notes the high level of tariff liberalisation under the agreement, which will entail the removal of 100 % of New Zealand tariffs on EU exports at entry into force and the lifting of 98.5 % of EU tariffs on New Zealand trade after seven years; notes the counter-seasonal nature of our respective agriculture production; believes that the sensitive character of certain European agricultural sectors has been duly reflected by well-calibrated concessions in the formtaken into account through tariff-rate quotas and longer transition periods; calls on the Commission to monitor closely the management of tariff- rate quotas and longer transition periodsfor agricultural products and report back to Parliament; welcomes the inclusion of dedicated chapters on sustainable food systems and animal welfare respectively and anand calls on both parties to further exchange on outcomes for sustainable agricultural practices; also welcomes the animal welfare condition in the tariff rate quota for beef and the ambitious chapter on sanitary and phytosanitary matters;
Amendment 75 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Welcomes the protection that the agreement provides for the names of 163 European foodstuff geographical indications (GIs) and the complete list of EU GI wines and spirits, as well as the scope for (close to 2000 names); highlights that the agreement foresees the opportunity to adding more GI names in the future; notes that the agreement also includes comprehensive intellectual property provisions on copyright, trademarks and industrial designs, thereby ensuring effective protection and enforcement;
Amendment 80 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Believes that the market-access commitments on goods, given the removal of relatively high duties on industrial products such as cars and textiles, and the commitments on services, including delivery, telecommunications, financial and international maritime transport services, have the potential to significantly boost bilateral trade; considers that the agreement promotes transparency and the use of international standards to facilitate market access, while safeguarding the levels of protection that each party deems appropriate; welcomes that the agreement explicitly reaffirms the right of each party to regulate to pursue legitimate policy objectives; appreciates New Zealand’s acceptance of EU type-approval certificates and the provisions of the annex on wine and spirits, which will respectively facilitate trade in the vehicles and wine and spirits sectors;
Amendment 83 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the fact that the EU and New Zealand will reciprocally open up their procurement markets beyond what is already covered under the WTO Agreement on Government Procurement; stresses that EU companies will be allowed to tender for New Zealand central and sub-central government contracts on an equal footing with local companies;
Amendment 87 #
2023/0038M(NLE)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that the agreement includes a dedicated chapter on digital trade, which will ensure predictability and legal certainty in digital trade transactions and facilitate cross-border data flows, while respecting the EU acquis on the protection of data and privacy; welcomes that the agreement will help ensure a secure online environment for consumers and that it will preserve a high level of personal data and privacy protection in the EU; welcomes the inclusion of ambitious articles on the protection of source code and paperless trade;
Amendment 89 #
2023/0038M(NLE)
11a. Urges both partners to ensure the active involvement of social partners and civil society, notably through the civil society forum and the domestic advisory group, on the implementation of the agreement; calls on both parties to ensure the swift establishment of well- functioning, effective and balanced domestic advisory groups and to ensure that their views on transversal sustainability issues are taken into account in a transparent manner in the government-to-government consultations provided in the agreement; calls on the Commission to ensure that the EU delegation to New Zealand is involved in the process of implementing the agreement from start to finish;
Amendment 1 #
2022/2188(INI)
Draft opinion
Recital A
Recital A
A. whereas the Trade and Cooperation Agreement (TCA) concluded between the EU and the UK is of unprecedented nature and scope and establishes preferential arrangements in areas such as trade in goods and in services, intellectual property, digital trade, road transport and aviation, public procurement, energy, social security coordination, law enforcement and judicial cooperation in criminal matters, fisheries, competition, mobility, investment, thematic cooperation and participation in EU programmes, along with a prudential carve-out;
Amendment 2 #
2022/2188(INI)
Draft opinion
Recital A a (new)
Recital A a (new)
Aa. whereas the Withdrawal Agreement and the TCA constitute a common framework for the UK’s relationship with the EU; whereas both agreements have been agreed on and ratified by the EU and the UK and are legally binding treaties under international public law; whereas the TCA is predicated on the full implementation of the Withdrawal Agreement, now revised by the Windsor Framework;
Amendment 18 #
2022/2188(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Recalls that the Withdrawal Agreement and the TCA constitute a common framework for the UK’s relationship with the EU; notes that both agreements have been agreed on and ratified by the EU and the UK and are legally binding treaties under international public law; further recalls that the TCA is predicated on the full implementation of the Withdrawal Agreement, now revised by the Windsor Framework;
Amendment 22 #
2022/2188(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Notes the limited nature of the TCA in relation to financial services; recognises that this absence is a consequence of the UK’s unwillingness to discuss other areas of mutual interest as part of the TCA negotiations; notes that there arwelcomes the plans to establish a joint EU-UK financial regulatory forum to facilitate dialogue and cooperation on financial services issues3 ; recalls that this forum would not constitute a formal part of the TCA and willshould not provide the same level of access or cooperation as a comprehensive financial services agreement; _________________ 3 Reuters, ‘EU restarts work on EU-UK regulatory forum after Northern Ireland deal’, 8 March 2023.
Amendment 26 #
2022/2188(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Reiterates the fact that decisions on equivalence are not reciprocal and do not form part of the TCA; notes also the UK’s decisions on equivalence in respect of the EU and also in respect of other non-EU countries such as Switzerland, where mutual recognition status has been agreed; recalls that decisions on equivalence could benefit EU firms in terms of greater access to the UK market, including for banking and insurance; notes that the EU has only granted the UK equivalence status in one area – central counterparties – on a time- limited basis, recently extended until 2025; calls for further equivalence decisions to be considered; notes that as of October 2021, the EU had granted 22 equivalence decisions to the United States compared to one in the case of the UK4 ; supports the Commission’s position that decisions on equivalence should be made when they are in the EU’s interests; encourages the Commission to discuss further equivalence decisions in order to provide greater market access benefits to both EU and UK firms; expresses concern about the UK de- regulation trends in the field of financial services and their impact on equivalence decisions; _________________ 4 European Affairs Committee of the House of Lords, ‘1st Report of Session 2022–23: The UK-EUrelationship in financial services’, 23 June 2022.
Amendment 33 #
2022/2188(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Notes the desire of the British Government to adopt divergent regulation from the EU in respect of financial services, including by way of the Financial Services and Markets Bill5 , which proposes to repeal, replace, or amend retained EU law in the area of financial services and to delegate greater responsibility to UK regulators; underlines that further regulatory divergences may have a negative impact on financial cooperation between the UK and the EU and could undermine financial flows and the activities of financial entities; welcomes the EU’s recent progress on legislation in respect of financial services, even where this may result in regulatory divergence from the UK, including with respect to cryptocurrencies, taxonomy, listing and anti-money laundering; acknowledges, however, that the UK and the EU may adopt different regulatory approaches in the area of financial services and may not necessarily maintain a harmonised regulatory regime; supports the EU’s legislative progress in this area, even where this may result in regulatory divergence from the UK; stresses, however,tresses the benefits of future regulatory cooperation; _________________ 5 UK Parliament, ‘Financial Services and Markets Bill’, 11 May 2023.
Amendment 37 #
2022/2188(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Notes that the TCA offers the EU an opportunity to develop and strengthen its own financial services infrastructure and expertise; strongly supports the completion of the capital markets union and the banking union, based on an approach that is regulated, outward-looking, innovative and competitive; recallnotes that the completion of the third pillar of the Banking Union will support the overall objectives of strengthening the Union’s positioning on financial and capital markets and calls for the establishment of a fully-fledged European Deposit and Insurance Scheme (EDIS); acknowledges that the City of London remains a major centre for financial services with a global reach6 ; recognises the importance of a strong financial services sector for both the EU and the UK and supports efforts to enhance the EU’s financial services infrastructure and expertise; _________________ 6 Reuters, ‘London is top global finance centre but lags in key areas, says study’, 27 January 2022.
Amendment 42 #
2022/2188(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 43 #
2022/2188(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Supports the aims of the Commission’s proposed review of the European Market Infrastructure Regulation in respect of improving EU-based capacity and infrastructure in the area of euro clearing; recognises that the majority of euro clearing taking place outside the EU represents a strategic risk; recognises also that any forced relocation could risk disruption, market fragmentation, retaliatory measures, loss of competitiveness and reduced liquidity; and be detrimental; is, however, concerned that close to 90% of euro clearing takes place in the city of London and calls for the co-legislators to support action in this area in a manner that is effective, and proportionate and without disruption; advocates for a balanced approach that addresses the strategic risks of euro clearing outside the EU, while minimising potential disruptions to the market;
Amendment 45 #
2022/2188(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Is concerned that the Union relies heavily on certain third country Central Counterparty Clearing Houses (CCP) and that despite having over 52 CCPs authorised under EMIR, central clearing is usually concentrated in a small number of CCPs outside the EU;1a calls on the Commission to explore all options to step up recognition of EU based CCPs that are authorised to clear all asset classes; _________________ 1a Commission Staff working document, impact assessment report accompanying document Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulations (EU) No 648/2012, (EU) No 575/2013 and (EU) 2017/1131 as regards measures to mitigate excessive exposures to third-country central counterparties and improve the efficiency of Union clearing markets and Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directives 2009/65/EU, 2013/36/EU and (EU) 2019/2034 as regards the treatment of concentration risk towards central counterparties and the counterparty risk on centrally cleared derivative transactions SWD(2022) 697 final, https://eur-lex.europa.eu/legal- content/EN/TXT/?uri=CELEX:52022SC0 697
Amendment 45 #
2022/2188(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. MCalls on the Commission to assess the level of protection of EU geographical indications in the UK and maintains its call for both parties to activate the ‘rendez- vous’ clause on the future protection of geographical indications registered after 2021;
Amendment 46 #
2022/2188(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Reiterates that the TCA is the delicate outcome of long and difficult negotiations and it should therefore be fully implemented in good faith, equally to the Withdrawal Agreement, in particular the Protocol on Ireland and Northern Ireland, and the recent Windsor Framework, for the mutual benefit of both parties; calls on both parties to fully exploit its huge potential to facilitate EU-UK trade to the greatest extent possible, while bearing in mind that the advantages of membership in terms of access to the EU single market and to the Customs Union, as well as of participation in other common and flanking policies, cannot, under any circumstances, be replicated through an FTA;
Amendment 48 #
2022/2188(INI)
Draft opinion
Paragraph 8
Paragraph 8
Amendment 52 #
2022/2188(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Takes note of the further postponement of the implementation of certain UK import procedures and checks on products coming from the EU; calls on the UK Government to clarify the schedule and requirements in order to avoid further uncertainty for businesses and to digitalize and simplify UK customs procedures to the extent possible, in order to avoid further frictions in trade between the EU and the UK; highlights that customs cooperation between the EU and the UK is important in order to support compatibility in customs legislation and procedures, and to promote trade facilitation;
Amendment 53 #
2022/2188(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Recalls that as a consequence of a separate sanitary and phytosanitary (SPS) regulatory regime following its withdrawal from the EU, the UK is subject to all EU rules applicable to third countries not dynamically aligning with EU legislation; takes note of the fact that post-Brexit, the EU and UK remain important trading partners for agri-food products and that from January to October 2022, EU exports to the UK reached EUR 39.5 billion, a 15 % increase compared to 2021, while the UK was the third most important partner for the EU in terms of agri-food imports8 ; calls on the UK Government to consider an SPS agreement, as an alignment of this type woulexpedite the transition to a digital system for sanitary and phytosanitary certificates, and to consider an SPS agreement, as an alignment of this type would reduce the administrative and financial burden on both sides, and facilitate EU-UK agri-food trade, including trade between Great Britain and Northern Ireland; _________________ 8 ‘Monitoring EU agri-food trade’, European Commission, Directorate- General for Agriculture and Rural Development, Brussels, 2022, https://agriculture.ec.europa.eu/system/files /2023-01/monitoring-agri-food-trade- oct2022_en_1.pdf.
Amendment 58 #
2022/2188(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Commends the ongoing work of the Trade Partnership Committee and of the specialised and trade-specialised committees, and urges the parties to fully explore their potential as bilateral bodies established under the TCA, which can discuss subjects of shared strategic importance and address all implementation issues in a direct manner; invites the Commission to continue the good practice of keeping the European Parliament fully and immediately informed of the ongoing work of and developments in these committees;
Amendment 60 #
2022/2188(INI)
Draft opinion
Paragraph 10
Paragraph 10
10. Recognises that the close economic links between Ireland and Northern Ireland will continue despite the latter being part of a designated third country; supports an acknowledgement of these economic links, including with respect to the supervision of transactions between both jurisdictions; calls for measures to ensure that such links are not disrupted by any changes in regulatory or legal frameworks; emphasises the importance of maintaining close economic ties and minimising disruption in the aftermath of Brexit, particularly with respect to this relationship;
Amendment 64 #
2022/2188(INI)
Draft opinion
Paragraph 11
Paragraph 11
11. Recognises that following the entry into force of the TCA, a number of financial services firms based in London announced intentions to establish a new presence in and relocate some assets to the EU; notes that estimates suggest that 44 % of the UK’s largest financial services firms have announced plans to move some staff or operations7 , however only 7 000 jobs have been relocated outside of London thus far – far below the initial estimates of 75 0008 ; supports the efforts of the Member States to seek to attract post- Brexit business investment and notes that several EU cities have been the focus of post-Brexit financial service industry investment, including Paris, Frankfurt, Amsterdam, Luxembourg and Dublin; acknowledges that this fragmentation means that the benefits of a concentrated ecosystem and cluster effect that characterise London have not yet been recreated in the EU; _________________ 7 Study – ‘Recent trends in UK financial sector regulation and possible implications for the EU, including its approach to equivalence’, European Parliament, Directorate-General for Internal Policies, Policy Department for Economic, Scientific and Quality of Life Policies, 8 February 2023. 8 EY, ‘EY Financial Services Brexit Tracker: Movement within UK financial services sector stabilises five years on from Article 50 trigger’, 29 March 2022, London; European Affairs Committee of the House of Lords, ‘1st Report of Session 2022–23: The UK-EU relationship in financial services’, 23 June 2022.
Amendment 65 #
2022/2188(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Calls on the Commission to keep the European Parliament fully and immediately informed about all complications that may jeopardise the level playing field and fair competition for EU businesses and workers;
Amendment 81 #
2022/2188(INI)
Draft opinion
Paragraph 14
Paragraph 14
14. Strongly reiterates the importance of protecting the Good Friday Agreement and supporting peace and reconciliation in Northern Ireland; recalls the UK Government’s threatened actions, which would be deemed to be in violation of the TCA, particularly with respect to the Northern Ireland Protocol as contained in the Northern Ireland Protocol Bill 2022, in which the UK Government proposed removing the jurisdiction of the Court of Justice of the EU over the Protocol, and for which the Commission commenced infringement proceedings against the UK; recognpraises that an agreement has been reached on the Windsor Framework10, which will ensure a flexible but effective implementation of the NI Protocol and respect for the Belfast/Good Friday Agreement while safeguarding the integrity of the EU’s single market, and that the British Government has announced its intention to suspend work on the Northern Ireland Protocol Bill and to allow it to lapse. _________________ 10 His Majesty’s Government, ‘The Windsor Framework: A new way forward’, February 2023.
Amendment 84 #
2022/2188(INI)
Draft opinion
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Calls on the Commission, in coordination with the European Central Bank, the European Supervisory Authorities, the European Systemic Risk Board and the Single Resolution Board, to keep the Parliament fully informed on the monitoring of the implementation of the TCA and of all relevant market developments in financial services, in order to identify potential market disruptions and threats to financial stability, market integrity and investor protection in a timely manner.
Amendment 2 #
2022/2172(INI)
Draft opinion
Recital -A (new)
Recital -A (new)
-A. whereas the legally binding Interinstitutional Agreement of 16 December 2020 foresees the implementation of a roadmap of new own resources, including a second basket of own resources to be proposed by June 2024;
Amendment 8 #
2022/2172(INI)
Draft opinion
Recital B
Recital B
B. whereas thea second basket of new own resources is expected by the end of 2023; whereas the Interinstitutional Agreement of 16 December 2020 stipulates that the Commission could include a fFinancial tTransaction tTax and a financial contribution linked to the corporate sector or a new common corporate tax base in this second basket;
Amendment 16 #
2022/2172(INI)
Draft opinion
Recital B b (new)
Recital B b (new)
B b. whereas the need to repay Next Generation EU (NGEU) and mounting long-term challenges for the EU underline the need to reassess the EU system of own resources, by exploiting the full potential of genuine own resources to assure sustainable financing of the EU budget in the long-term;
Amendment 17 #
2022/2172(INI)
Draft opinion
Recital B c (new)
Recital B c (new)
B c. whereas new own resources will ensure the NGEU repayment plan’s sustainability and strengthen the EU’s credibility on the financial markets, thus securing the best possible borrowing terms for the Union;
Amendment 18 #
2022/2172(INI)
Draft opinion
Recital B d (new)
Recital B d (new)
B d. whereas innovative own resources promote important EU objectives and strategies, such as fair taxation, competitiveness, or stabilising financial markets;
Amendment 19 #
2022/2172(INI)
Draft opinion
Recital B e (new)
Recital B e (new)
Amendment 21 #
2022/2172(INI)
Draft opinion
Paragraph -1 a (new)
Paragraph -1 a (new)
-1 a. Underlines that own resources are a key enabler for the Union to implement its policy priorities; stresses that the introduction of new own resources would assure sustainable financing of the EU budget on a long-term basis in order to avoid new EU priorities being financed to the detriment of valuable EU programmes and policies, thus avoiding cuts to Union programmes in the future that would undermine the very purpose of long-term planning;
Amendment 22 #
2022/2172(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. NotWelcomes that, according to the roadmap in the Interinstitutional Agreement of the 16 December 2020, the Commission needs to put forward a proposal for the second basket of new own resources by June 2024;
Amendment 36 #
2022/2172(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. NotWorries that none of the new own resources from the first basket are yet in place;
Amendment 49 #
2022/2172(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Concludes that the second basket of own resources therefore needs to be ambitious and yield sufficient revenues commensurate with the Union’s needs and based on measures- taxes and levies- that require a European coordinated approach;
Amendment 70 #
2022/2172(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
Amendment 71 #
2022/2172(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Notes that income from capital is often less taxed than income from labour in most Member States; notes that the variety of tax rates on capital gains has led to a fragmentation on the Single Market and created opportunity for aggressive tax planning strategies; considers that coordination of capital gains taxation would allow for more tax neutral investments decisions; calls on the Commission to assess the feasibility of a minimum capital gain tax at EU level as well as its potential for becoming an EU own resource;
Amendment 81 #
2022/2172(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Suggests that the Commission and Member States come up with new own resources with similar design features as for to the non-recycled plastic contribution with the aim to fight inequality in the Union, to enhance the circular economy, and help to catalyse the implementation of the Green Deal. , as well as ensure a socially fair and just green and digital transition;
Amendment 82 #
2022/2172(INI)
Draft opinion
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Calls on the Commission to come forward urgently with a new own resource linked to the measures recently introduced to redistribute the energy sector's surplus, namely the solidarity levy for the fossil fuel sector and the cap on market revenues for electricity generators and intermediaries that use inframarginal technologies; proposes that this new own resource consists of a share of the revenues generated by these levies; recommends that the proceeds of this new own resource are used to finance relief and income support measures for households across the Union;
Amendment 6 #
2022/2150(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Underlines the exceptionally uncertain EU economic and social outlook resulting from the lasting impact of the COVID-19 pandemic and the consequences of the war against Ukraine;
Amendment 9 #
2022/2150(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the EU labour market has proved particularly resilient, with an additional two million people in employment, leading to a record low unemployment rate of 6.2 % in 2022; whereas according to the Commission’s autumn economic forecast the public sector was a key contributor to the increase in employment; whereas despite labour market tightness wage growth has remained moderate and has failed to keep up with inflation, implying real wage losses of, on average, 8% between Q4 2020 and Q2 2022 in the Euro Area according to ECB research13a; whereas the unemployment rate is expected to increase slightly in 2023 (6.5 %), before marginally coming down again in 2024 (6.2 %); _________________ 13a https://www.ecb.europa.eu/press/blog/date /2022/html/ecb.blog221125~d34babdf3e.e n.html
Amendment 10 #
2022/2150(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes the robustness of the labour market; highlights the stabilising effect of national short-time work schemes supported by the European instrument for temporary support to mitigate unemployment risks in an emergency (SURE); welcomes the fact that the recovery and resilience facility is mitigating those consequences and contributing to the Union’s competitive sustainabilitya sustainable and resilient Union; stresses that its successful implementation requires the completion of milestones and targets, in particular compliance with the rule of law and the general regime of conditionality, to be monitored transparently and thoroughly; stresses that large parts of the success of the RRF are due to the mobilisation of financial support for reforms and investments undertaken by Member States; welcomes the Commission’s proposal to include a REPowerEU chapter in the national recovery and resilience plans; insists that the financing of REPowerEU must not divert resources away from other agreed EU priorities;
Amendment 15 #
2022/2150(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Welcomes however the European Commission’s call on Member States to deliver targeted measures to offset the impact of high energy prices on vulnerable households and companies; agrees with the European Commission in stressing that such measures should maintain incentives for energy savings; recalls that Member States find themselves in significantly diverging positions regarding the fiscal space available to them; notes that this situation entails the risk of furthering divergence between Member States and of potential distortions of the Single Market as the energy crisis continues and progresses.
Amendment 19 #
2022/2150(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas inflation has a differentiated impact across income groups, with low-income groups suffering proportionally more especially as inflation is mainly driven by price developments in essential goods that cannot be substituted and make up a relatively larger share of the consumption basket of low-income households; whereas such differentiated impacts cause a veritable cost-of-living crisis for parts of the population that poses challenges to social cohesion;
Amendment 21 #
2022/2150(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Stresses that the Union budget primarily supports strategic, targeted and growth-enhancing investment and entails a lower risk of inflationary pressure compared to untargeted and extensive national; believes that RRF provides a solid foundation for discussions on how to allow sufficient public investment under the fiscal stimrulues; calls on the Commission and the Member States, in the revision of the EU economic governance framework, to treat gross national income- based contributions to the Union budget in the same way as the national investment commitment; under the European Fund for Strategic Investments in the context of the Commission communication on flexibility .
Amendment 24 #
2022/2150(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Stresses that the European Parliament should be fully involved in the reform of the economic governance framework as well as the future conduct of economic governance in the EU, including in the establishment and management of fiscal instruments.
Amendment 26 #
2022/2150(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas inflation and economic forecasts are operating under the conditions of heightened uncertainty, with key risks, especially to growth, continuing to be pitched to the downside; whereas such uncertainty compels the EU and Member State governments to remain vigilant and to take rapid action if risks materialise;
Amendment 29 #
2022/2150(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Is concerned at the economic impact of the aforementioned crises on the Union and on national budgets; stresswelcomes that crisis response has led Member States to adopt extensivenecessary economic and social measures; highlights the positive long-term impact of these measures on economic sustainability, but considers that it should be possible to return to a state of economic discipline in the long run; is also concerned at the Union’s increasing debt repayment obligations if not appropriately handled; stresses that Union borrowing should not increase further as long as there are nowell-targeted measures and public investments on economic growth, social inclusion and environmental sustainability that will contribute to increase potential growth and fiscal sustainability in the long run; considers that the Union’s debt should be accompanied by the introduction of new own resources to cater for debt repayment obligations.
Amendment 32 #
2022/2150(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Believes that future reforms of the European Semester should draw on the lessons learned on the Next Generation EU, the RRF and the Support to mitigate Unemployment Risks in an Emergency (SURE) instrument, especially as regards more transparent and democratic processes as well as policy coordination and collaborative approaches to the definition of reforms and investment priorities and projects;
Amendment 40 #
2022/2150(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Considers that all options to incentivise Member State investments to tackle the long-term challenges should be on the table, specifically the revision of the Stability and Growth Pact to promote a future-oriented economy and the extension of lending and borrowing capacities at EU level, building on Next Generation EU;
Amendment 44 #
2022/2150(INI)
Draft opinion
Paragraph 4 c (new)
Paragraph 4 c (new)
4 c. Considers that an adequately- designed permanent fiscal capacity at EU level could play a crucial role in maintaining sufficiently high levels of strategic investment and ensuring an appropriate fiscal stance at the aggregate level;
Amendment 45 #
2022/2150(INI)
Draft opinion
Paragraph 4 d (new)
Paragraph 4 d (new)
Amendment 46 #
2022/2150(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Notes that the European Systemic Risk Board has issued a warning on 22 September 2022 calling for heightened awareness with regards to financial stability risks resulting from sharply falling asset prices; is concerned that rising mortgage rates and the deterioration in debt servicing capacity due to a decline in real household income may cause further distress for families and for financial markets;
Amendment 60 #
2022/2150(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that while the primary objective of the European Central Bank (ECB) is to maintain price stability, the primary objective of the Union as a whole should be to minimise the impact of current turbulences on the real economy, thereby defending the wellbeing of its citizens and preserving its production structure and the international competitiveness of its companies; underlines, in this regard, the importance of adequate and coordinated fiscal, structural and regulatory policies that complement the ECB’s monetary policy actions, which are also capable of supporting household incomes and providing targeted support to companies suffering from supply bottlenecks and high energy costs; notes that further increases of the ECB’s key policy rate or quantitative tightening may further contract economic activity;
Amendment 64 #
2022/2150(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Welcomes the European Commission’s call on Member States to deliver targeted measures to offset the impact of high energy prices on vulnerable households and companies; agrees with the European Commission in stressing that such measures should maintain incentives for energy savings; recalls that Member States find themselves in starkly diverging positions regarding the fiscal space available to them; notes that this situation entails the risk of furthering divergence between Member States as the energy crisis continues;
Amendment 67 #
2022/2150(INI)
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2 b. Notes the increased need for fiscal space in most Member States; underlines that in periods of increasing interest rates, Member States should also consider raising more revenues on higher earners or on industries and firms that are highly profitable; notes how a healthy balance between government revenues and expenditures is also necessary to reduce legacy debt and to build up buffers in times of economic recovery;
Amendment 69 #
2022/2150(INI)
Motion for a resolution
Paragraph 2 c (new)
Paragraph 2 c (new)
2 c. Calls for the general escape clause under the Stability and Growth (SGP) pact to remain activated as long as Member States are recovering from the crises caused by the pandemic and the Russian war of aggression against Ukraine; notes that the policy leeway created by the general escape clause is necessary to allow Member States to strengthen their competitiveness as well as their economic and social resilience under the current circumstances and within the constraints of the SGP in its current form;
Amendment 105 #
2022/2150(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Recalls that since 2017, some provisions in Member States’ bodies of national legislation were assessed to determine whether they facilitated aggressive tax planning and that, since 2019, six Member States received Country Specific Recommendations (CSRs) aiming at addressing features of the tax system that may facilitate aggressive tax planning; notes that those Member States made commitments in their NRRPs to reform their tax policies in order to fight aggressive tax planning; welcomes the fact that some jurisdictions already implemented some of those changes; however regrets the delays in implementation in others; regrets that, in the Recommendations of the Commission for 2022, only two Member States still received a CSR on aggressive tax planning while some have not implemented any change yet but still did not receive the Recommendation;
Amendment 114 #
2022/2150(INI)
Motion for a resolution
Paragraph 7 – point a
Paragraph 7 – point a
(a) the six-pillar structure, ensuringwhich was developed as part of the ordinary legislative procedure and hence under the full involvement of the European Parliament and that ensures that Member States give adequate consideration in their reform and investment agendas to all the relevant dimensions for making EU economies and societies more prosperous, sustainable, inclusive, competitive and resilient;
Amendment 131 #
2022/2150(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
Amendment 132 #
2022/2150(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Believes that future reforms of the European Semester should draw on the lessons learned as part of Next Generation EU and the RRF, especially as regards more transparent and democratic processes relating to the definition of policy objectives, the conduct of policy coordination as well as in relation to the collaborative approaches to the definition of reforms and investment projects that were pioneered between the European Commission and Member States; considers that such reforms should also incorporate lessons learned from the temporary establishment of the Support to mitigate Unemployment Risks in an Emergency (SURE) instrument;
Amendment 167 #
2022/2150(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Stresses that the revised regulatory framework must ensure that Member States have sufficient leeway to deliver decisive crisis-resolution measures when they are needed; is of the opinion that implementation of such measures should not require the suspension of regulatory provisions by means of escape clauses; notes that, in the future, the activation of escape clauses should remain a measure of last resort;
Amendment 168 #
2022/2150(INI)
Motion for a resolution
Paragraph 11 b (new)
Paragraph 11 b (new)
11 b. Highlights the need for common criteria that ensure, despite more country- specific flexibility in debt reduction, that all Member States are assessed according to the same standards, are treated equally, and that policy outcomes are predictable; notes that such common criteria should include criteria for the definition of Member States’ debt reduction paths; stresses that debt reduction should be delivered in a growth-friendly way and that underlying regulatory criteria should be defined in relation to Member States’ output and expenditure growth;
Amendment 169 #
2022/2150(INI)
Motion for a resolution
Paragraph 11 c (new)
Paragraph 11 c (new)
Amendment 170 #
2022/2150(INI)
Motion for a resolution
Paragraph 11 d (new)
Paragraph 11 d (new)
11 d. Notes that the Commission's Communication puts debt sustainability analyses (DSAs) at the centre of the fiscal rules and suggests using them to determine multi-year fiscal-structural plans; expresses concerns that DSAs would not be able to project future debt developments with certainty; underlines that the usage of DSAs still requires estimating unobservable variables, thereby undermining transparency and hampering ownership and predictability, and thus leaving space for discretion; stresses that the result of a DSA may create self-fulfilling prophecies, by encouraging investors to buy/sell bonds of the respective Member States, thereby influencing outcomes; observes that since there is not one unique set of assumptions, they should be aligned with the objectives of the EU-Treaties as regards growth and convergence, and they should be agreed upon in a political process, ideally by the European Parliament and the European Council;
Amendment 193 #
2022/2150(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Notes that the Commission's communication acknowledges the potential inconsistencies between the application of the fiscal rules and the recommendations under the Macroeconomic Imbalance Procedure (MIP), and provides for the inclusion of reforms and investments required to correct the imbalances under the MIP in the national plans; regrets that the Communication does not encompass any instrument that allows for the correction of such inconsistencies;
Amendment 207 #
2022/2150(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Stresses that large parts of the success of the RRF are due to the mobilisation of financial support for reforms and investments undertaken by Member States; notes that the European Commission’s proposals for a revised EU economic governance framework seek to incentivise compliance by way of sanctions that apply automatically in the case of non-compliance;
Amendment 208 #
2022/2150(INI)
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13 b. Recalls that the RRF is expected to end in late 2026; recalls that there is a near-undisputed consensus on the need for a degree of fiscal centralisation for currency unions, such as the Economic and Monetary Union, to be viable in the long-run, which was most recently reiterated by the International Monetary Fund13d; _________________ 13d International Monetary Fund, DP/2022/014, Reforming the EU Fiscal Framework - Strengthening the Fiscal Rules and Institutions
Amendment 209 #
2022/2150(INI)
Motion for a resolution
Paragraph 13 c (new)
Paragraph 13 c (new)
13 c. Considers that a permanent fiscal capacity at EU level could, if designed appropriately, play a crucial role in maintaining sufficiently high levels of strategic investment, resolving the inconsistencies between the application of the fiscal rules and the MIP, and ensuring an appropriate fiscal stance at the aggregate level; calls for the timely establishment of a permanent instrument of a significant volume to succeed the RRF prior to its expiration at the end of 2026; considers that such an instrument should comprise both an investment and a stabilisation function;
Amendment 214 #
2022/2150(INI)
Motion for a resolution
Paragraph 13 d (new)
Paragraph 13 d (new)
13 d. Considers that such an instrument should support national reform and investment initiatives towards common EU priorities, especially in the context of the social-ecological transformation and with regard to MIP-related measures for which Member States lack the fiscal space at national level under the applicable fiscal framework;
Amendment 215 #
2022/2150(INI)
Motion for a resolution
Paragraph 13 e (new)
Paragraph 13 e (new)
Amendment 216 #
2022/2150(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recalls that the better law-making agreement reiterates that the European Parliament and the Council are to exercise their powers as co-legislators on an equal footing and that the Commission therefore needs to treat them equally; stresses that the European Parliament should therefore be fully involved in the reform of the economic governance framework as well as the future conduct of economic governance in the EU, including in the establishment and management of fiscal instruments; stresses the role and responsibility of national parliaments;
Amendment 221 #
2022/2150(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Recognises the need for sufficient public revenue to ensure the sustainability of public finances in times of pressing investment needs and frequent economic shocks; highlights the various observations made by the European Commission as part of the European Semester on the tax mix; considers as necessary a shift from labour and consumption taxation towards the taxation of environmentally harmful practices, speculative behaviours, the windfall and/or excess profits of multinational corporations, and capital; stresses that further action to counter tax avoidance and evasion in the EU and in global fora is a necessary complement to the reform of the EU economic governance framework;
Amendment 3 #
2022/2147(INI)
Draft opinion
Recital A a (new)
Recital A a (new)
A a. whereas the outermost regions are especially vulnerable to negative impacts of climate change, like extreme weather events, rising sea levels or heat waves; whereas the outermost regions have an exceptionally high biodiversity value and focus should be put in protecting and restoring ecosystems;
Amendment 4 #
2022/2147(INI)
Draft opinion
Recital A b (new)
Recital A b (new)
A b. whereas the decarbonisation of the maritime and aviation sector is necessary to achieve the goals set out in the European Green Deal and the European Climate Law, sufficient time to adapt to such a transition should be given to the outermost regions;
Amendment 4 #
2022/2147(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
Amendment 5 #
2022/2147(INI)
Draft opinion
Recital B
Recital B
B. whereas the outermost regions are highly dependent on transport, especially air and maritime connections, with additional costs with regard to the import and export of goods and the transport of passengers, and that, in the case of archipelagos, double insularity exacerbates these challenges;
Amendment 6 #
2022/2147(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Underlines the very specific social challenges that ORs face with higher unemployment rates and lower GDP per capita than the EU average; welcomes the Commission’s emphasis on addressing poverty, fostering equality and inclusion and access to adequate housing, water, internet and affordable transport and energy and healthcare as well as, on implementing the European Pillar of Social Rights; calls for additional support to be provided on top of the current financial programming;
Amendment 9 #
2022/2147(INI)
Draft opinion
Recital B a (new)
Recital B a (new)
B a. whereas the blue economy sector plays a vital role in the economic growth and prosperity of outermost regions, that, due to their insularity, are especially dependent on blue economy-based activities, such as maritime transport, shipping, and tourism, with ports being important hubs for the transport of goods and passengers;
Amendment 11 #
2022/2147(INI)
Draft opinion
Recital B b (new)
Recital B b (new)
B b. whereas the tourism sector is highly important for the economies of these regions and that boosting this sector can have positive repercussions in terms of employment levels and economic growth;
Amendment 14 #
2022/2147(INI)
Draft opinion
Recital C a (new)
Recital C a (new)
C a. whereas the COVID-19 pandemic had severe negative impacts in the economies of the outermost regions, in particular sectors related with blue economy, of which outermost regions are highly dependent; whereas coastal and maritime tourism represents 60% of the employment in the blue economy and which needs highly qualified and skilled professionals; whereas the promotion of these “blue jobs” can boost the tourism sector and help in raising employment levels in the outermost regions;
Amendment 14 #
2022/2147(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Underlines the key role of cohesion policy in unlocking ORs’ potential and offsetting the impact of their permanent constraints; stresses the need to better account for ORs’ specific features in cohesion fund programming, while ensuring they can fully benefit from provisions enabling greater flexibility, namely higher co-financing rates and access to pre-financing; stresses the need to factor ORs’ specific circumstances fully in to delivery of the Green Deal and to tap into their potential to develop their strategic autonomy by diversifying supply chains and to achieve self- sufficiency from renewables by providing adequate support;
Amendment 20 #
2022/2147(INI)
Draft opinion
Recital D
Recital D
D. whereas the outermost regions, in the climate and energy transition, have great potential to develop key sectors such as sustainable mobility, renewable energy, and ecotourism;
Amendment 22 #
2022/2147(INI)
Draft opinion
Paragraph -1 (new)
Paragraph -1 (new)
-1. Reiterates the need to ensure territorial cohesion of all outermost regions through maritime and air transport, which should not be affected by disproportionate high costs whether for passengers or goods;
Amendment 27 #
2022/2147(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Highlights the success of the programme of options specifically relating to remoteness and insularity (POSEI) and calls on the Commission to replicate this instrument for other sectors, such as transport, with additional financial allocations in the post-2027 MFF; reiterates the importance of increasing allocations for POSEI agriculture in the future;
Amendment 28 #
2022/2147(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. PHighlights that, due to their particularities and needs, outermost regions need additional support to guarantee a just green transition, especially in the policies of the Fit for 55 package; points out that, taking into account the dependence of the outermost regions on air connections, flights from thbetween an aerodrome located in an outermoset regions to the mainland of of a Member State and an aerodrome located in anotheir respective Member States should be exempt from the EU Emissions Trading System until 2030,gion of the EEA and flights performed between two aerodromes located within the same outermost region should be exempt from the EU Emissions Trading System until 2030; points out that, due to the dependence of these regions on maritime transport, a similar exemption until 2030 should apply to all voyages between a port located in an outermost region of a Member State and a port located in the same Member State, including ports within and between the outermost regions of the same Member State; and calls on the Commission to take into account the regions’ specific characteristics in the revision of all relevant legal acts, including the impacts of lifting such exemptions;
Amendment 28 #
2022/2147(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Notes the specific vulnerability of ORs to natural disasters; welcomes the Commission’s intentions for further support actions on risk prevention and resilience; regrets that the Solidarity and Emergency Aid Reserve’s annual ceiling is not adequate to respond to emergencies, notably in ORs, which reduces EU support much below the potential aid amount that could be needed, and highlights the need to reconsider the architecture of the European Union Solidarity Fund mechanism to render it speedier, more flexible and more agile;
Amendment 30 #
2022/2147(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Underlines the importance of taking into account these regions’ specificities in the revision of State aid regulations and guidelines across sectors;
Amendment 45 #
2022/2147(INI)
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. Calls on the Commission and Member States to support the development of sustainable mobility in the outermost regions, promoting alternatives to fossil fuels and the modernisation and decarbonisation of port and airport infrastructures, including through an increase in investments;
Amendment 46 #
2022/2147(INI)
Draft opinion
Paragraph 3 c (new)
Paragraph 3 c (new)
3 c. Calls on the Commission, Member States and regional authorities to promote and ensure the diversification of transport modes, supporting the establishment of necessary infrastructures, such as bicycle and pedestrian lanes, taking into account outermost regions’ specificities, such as their orography;
Amendment 50 #
2022/2147(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Encourages the Commission to support investments in tourism, to ensure EU funding for its recovery and sustainable development and to provide the sector with information on funding opportunities; recognises, in particular, the potential of ecotourism to reduce the environmental footprint of the sector, ensuring the protection of our climate and biodiversity, while contributing to the socioeconomic development of local communities in the outermost regions;
Amendment 57 #
2022/2147(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls on the Member States to unlock the potential of the outermost regions through appropriate investments and reforms and by supporting the green and digital transitions.; highlights that the outermost regions can be important players in these transitions, with the potential of being hubs for green and digital projects, towards an economic model that values sustainability and innovation;
Amendment 59 #
2022/2147(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Highlights the need to prepare contingency plans in the outermost regions for the transport sector, with a view to ensuring its resilience, especially in terms of infrastructure and public services, taking into account the impacts caused by the COVID-19 pandemic and the subsequent lessons learned, to avoid any future disruptions on essential services for passengers and goods, in particular in the case of sanitary crises, extreme weather events or conflicts such as the one on Ukraine;
Amendment 61 #
2022/2147(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Highlights that the potential of the outermost regions can only be achieved through the cooperation of different stakeholders, including European, national, regional and local authorities, economic and social agents, the civil society, the academic community and nongovernmental organisations; highlights, in this regard, the positive contribution of the Conference of Presidents of Outermost Regions to identify priorities and challenges faced by these regions and incentivise further action; points out that collaboration between outermost regions is also essential to ensure an holistic approach which answers to their specific needs and the sharing of best practices;
Amendment 13 #
2022/2062(INI)
Motion for a resolution
Recital C c (new)
Recital C c (new)
C c. whereas current estimates show that the EU must invest an extra EUR 350 billion a year to achieve its 2030 climate targets;
Amendment 18 #
2022/2062(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas the prices of energy commodities, food, and other raw materials have reached unprecedented high levels and continue to be the source of economic instability in the EU’s economy;
Amendment 19 #
2022/2062(INI)
Motion for a resolution
Recital C b (new)
Recital C b (new)
Amendment 20 #
2022/2062(INI)
Motion for a resolution
Recital C d (new)
Recital C d (new)
C d. whereas a more integrated Capital Markets Union would ease the work of the EIB to unlock investment, boosting and diversifying investments in the real economy, in particular in SMEs, and triggering further cross-border equity investment and trade;
Amendment 22 #
2022/2062(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Appreciates the way the EIB is constantly ready to adapt and reinvent itself in line with the constantly changing EU policy requirements while respecting its long-term goals;
Amendment 23 #
2022/2062(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Notes the persistent investment gap in the EU and the increased need of countercyclical investment as the EU enters its fourth year of crisis through the pandemic and the subsequent Russian invasion of Ukraine; in this regard, welcomes the EIB’s crucial role as a main tool in the EU’s investment policy to act where private financing is missing; calls on the EIB to assure the maximum level of additionality in real economy investment with the aim of fostering sustainable growth as well as social and regional cohesion when deciding over future financing;
Amendment 24 #
2022/2062(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the EIB’s investment of EUR 72.4 billion of financing in 2022 and the bank’s focus on the EU’s long-term challenges of competiveness, productivity, climate change, a just transition that leaves nobody behind, sustainability, social cohesion and digital transformation;
Amendment 45 #
2022/2062(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Notes the ongoing levels of high inflation and in this regard asks the EIB to assess the possible increased financial needs of ongoing projects;
Amendment 50 #
2022/2062(INI)
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8 c. Reiterates the remarks by EIB Vice President Kris Peeters that commercial banks across the EU will be prone to court cases due to failing due diligence processes and climate transition plans; calls for a level playing field and legal certainty on EU due diligence requirements through the swift adoption of the corporate sustainability due diligence directive; calls on the EIB to commit to incorporating due diligence standards to address and mitigate adverse impacts of its investment decisions on human rights and the environment;
Amendment 73 #
2022/2062(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Reiterates its call on the EIB to complement efforts to build a data-driven society, with a particular focus on SMEs’ competitiveness and to focus its investment in this field towards bridging digital divides both within the EU, as well as between the EU and other technologically more advanced world regions;
Amendment 77 #
2022/2062(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Stresses the need for the EIB to have a strong focus on start-ups and projects directed at tackling the growing problem of youth unemployment in the context of creating secure and high- quality jobs;
Amendment 83 #
2022/2062(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Notes the Commission’s proposal to work with the European Investment Bank and other InvestEU implementing partners to seek ways to scale up support to investment in the net-zero industry supply chain, including via the setting up of blending operations;
Amendment 86 #
2022/2062(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Encourages the EIB to use its operations to facilitate the implementation of the goals of the Green Deal, particularly becauseaiming at an inclusive and fair climate transition; furthermore calls for these goals to be combined with the affordability and security of food which has deteriorated worldwide in the context of the ongoing war in Ukraine;
Amendment 107 #
Amendment 108 #
2022/2062(INI)
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23 b. In line with the principles established in the European Pillar of Social Rights, and in view of the current EU housing crisis, expects an increase in EIB financed operations in the area of social housing; furthermore asks the EIB to keep up its focus on women economic empowerment and gender equality when targeting new financing;
Amendment 109 #
2022/2062(INI)
Motion for a resolution
Paragraph 23 c (new)
Paragraph 23 c (new)
23 c. Notes the shortage in specialised labour in most of the EU and in this vein believes that the areas of education and skills are not provided the needed priority;
Amendment 110 #
2022/2062(INI)
Motion for a resolution
Paragraph 23 d (new)
Paragraph 23 d (new)
23 d. Is concerned about the systemic weakening of healthcare systems in many Member States of the EU and the ongoing medicine shortage in the EU which includes basic medicine such as paracetamol and antibiotics; further recalls the general scarcity of medicine products and medical equipment experienced during the COVID pandemic; in this context calls on the EIB to evaluate the possibilities to further invest in this sector with the aim to tackle the structural European deficiency in the health sector;
Amendment 111 #
2022/2062(INI)
Motion for a resolution
Paragraph 23 e (new)
Paragraph 23 e (new)
23 e. Applauds the financing dedicated to assistance towards refugees in reception centres or temporary education under the Ukraine solidarity package; requests that a similar priority is provided to refugees escaping from conflicts in other neighbouring regions of the EU;
Amendment 127 #
2022/2062(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Underlines that enhancing local presence and increasing cooperation with the EU delegations was a key driver in the establishment of EIB Global; reiterates its calls for additional staff on the ground, particularly in view of contracting more employees from the countries where the financing is taking place; supports the EIB’s approach to open regional offices in Africa and employ local applicants in these offices with the aim of adapting its requirements to local needs;
Amendment 128 #
2022/2062(INI)
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26 a. Asks the EIB to evaluate better its effectiveness when it comes to financing for SMEs and mid-caps in Africa whereby the relatively small size of projects seems to be often a hurdle towards access to finance; calls for an evaluation of a possible design of instruments that facilitate investment by EU SMEs in third countries, and increase their access to finance, including with respect to smaller projects; notes the importance of the EIB’s role in creating a level playing field for SMEs based in Member States whose national development banks do not have the capacity to promote investment in third countries;
Amendment 132 #
2022/2062(INI)
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27 a. Points out to the essential role of direct financing in countries from where the bulk of irregular migration into Europe originates in the perspective of slowing down forced economic immigration from these regions and of contributing further to the development and economic empowerment of these communities;
Amendment 134 #
2022/2062(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Stresses the importance of consistency and efficiency in development finance and calls on the EIB to place greater emphasis on mobilising domestic resources and for a general increase of its commitment in less developed countries;
Amendment 136 #
2022/2062(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Welcomes the launch of the Development Finance Institutions Transparency Index in 2023 and that fact that the associated report ranks the EIB at a similar level to peer development finance institutions in a number of areas, including financial intermediaries and environmental, social and governance and accountability to communities; calls for clear and comprehensive information to be shared with other EU institutions, the European Parliament in particular;
Amendment 137 #
2022/2062(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Regrets the fact that women remain underrepresented in senior positions and in the core areas of activity at the EIB; recalls its position that more needs to be done to improve both its gender and geographical balance in this context;
Amendment 140 #
2022/2062(INI)
Motion for a resolution
Paragraph 31 a (new)
Paragraph 31 a (new)
31 a. Queries whether the EIB has the needed human resources in light of the ongoing expansion of its functions and responsibilities;
Amendment 143 #
2022/2062(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Takes note of the EIB’s new anti- fraud policy and underlines the importance of inclusive cooperation when developing key anti-fraud policy tools; notwelcomes that the EIB has adopted and published the EIB Group Policy towards weakly regulated, non-transparent and non-cooperative jurisdictions and tax good governance, which is complimentary to the EIB Group Anti-Money Laundering and Combatting the Financing of Terrorism Policy;
Amendment 1 #
2022/2061(INI)
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
— having regard to the Commission proposal of 24 November 2015 for a regulation of the European Parliament and of the Council amending Regulation (EU) No 806/2014 in order to establish a European Deposit Insurance Scheme (COM(2015)0586),
Amendment 3 #
2022/2061(INI)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
— having regard to the Commission communication of 16 December 2020 on tackling non-performing loans in the aftermath of the COVID-19 pandemic (COM(2020)0822),
Amendment 5 #
2022/2061(INI)
Motion for a resolution
Citation 8 b (new)
Citation 8 b (new)
— having regard to The Five Presidents’ Report of 22 June 2015 entitled ‘Completing Europe’s Economic and Monetary Union’,
Amendment 7 #
2022/2061(INI)
Motion for a resolution
Citation 12 a (new)
Citation 12 a (new)
— having regard to the ECB recommendation of 15 December 2020 on dividend distributions during the COVID- 19 pandemic,
Amendment 14 #
2022/2061(INI)
Motion for a resolution
Citation 28 a (new)
Citation 28 a (new)
— having regard to the European Supervisory Authorities’(ESAs)' ‘Joint Committee Report on Risks and Vulnerabilities in the EU Financial System’, JC 2022 09 of March 2022,
Amendment 15 #
2022/2061(INI)
Motion for a resolution
Citation 28 b (new)
Citation 28 b (new)
— having regard to the EU Tax Observatory Working Paper 'Tax Planning by European Banks' of December 2022,
Amendment 16 #
2022/2061(INI)
Motion for a resolution
Citation 29
Citation 29
— having regard to the declaration signed by the Chair of Parliament’s Committee on Economic and Monetary Affairs, and the respective coordinators for six political groups (EPP, S&D, RE, Greens, ECR and The Left) of 7 December 2022 on the European deposit insurance scheme,
Amendment 17 #
2022/2061(INI)
Motion for a resolution
Citation 30 a (new)
Citation 30 a (new)
— having regard to its resolution of 25 March 2021 on strengthening the international role of the euro,
Amendment 18 #
2022/2061(INI)
Motion for a resolution
Citation 30 b (new)
Citation 30 b (new)
— having regard to the Basel Committee on Banking Supervision standards on the Prudential treatment of crypto-asset exposures, of December 2022,
Amendment 24 #
2022/2061(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the Banking Union (BU) currently consists of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM); whereas although the Deposit Guarantee Schemes Directive4 (DGSD) sets out high minimum standards in the area of deposit protection, the BU remains unfinished because thewhile lacking the establishment of its third pillar – the European deposit insurance scheme (EDIS) – has not yet been establishexposing the financial sector to risks that could be avoided; _________________ 4 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (OJ L 173, 12.6.2014, p. 149).
Amendment 28 #
2022/2061(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas an agreement was reached on the creation of a backstop for the Single Resolution Fund (SRF), but its actual implementation is still missing;
Amendment 34 #
2022/2061(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the Russian aggression against Ukraine and its economic and social consequences will havehas a direct and indirect impact on the EU banking sector;
Amendment 39 #
2022/2061(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas, despite the challenges caused by the pandemic and the war in Ukraine, the aggregate non-performing loans (NPL) ratio fell further to 2.29% in the third quarter of 2022; whereas this was supported by credit moratoria and renegotiation of credit with customers;
Amendment 42 #
2022/2061(INI)
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. whereas fifteen years after the financial crisis, the ‘too big to fail’ and ‘too interconnected to fail’ problems remain insufficiently addressed;
Amendment 59 #
2022/2061(INI)
Motion for a resolution
Recital H
Recital H
H. whereas the finalisation of the anti- money laundering (AML) package should strengthen AML rules, establish a European supervisory authority for AML purposes and ensure a consistent and effective implementation of these rules;
Amendment 68 #
2022/2061(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
Amendment 69 #
2022/2061(INI)
Motion for a resolution
Recital I b (new)
Recital I b (new)
I b. whereas the European banking sector largely remains the main provider of financing of companies, in contrast with other jurisdictions, where capital markets account for a considerable share of financing to companies;
Amendment 70 #
2022/2061(INI)
Motion for a resolution
Recital I c (new)
Recital I c (new)
I c. whereas the development of a CMU requires the establishment of common rules and effective tools that reduce the internal market fragmentation, facilitate access to alternative financing means, and prevent capital flight and tax avoidance schemes;
Amendment 77 #
2022/2061(INI)
J. whereas completing the BU will breakstrongly contribute to reduce the sovereign-bank doom loop;
Amendment 83 #
2022/2061(INI)
Motion for a resolution
Recital J a (new)
Recital J a (new)
J a. whereas the Transmission Protection Instrument (TPI) established by the ECB can mitigate risks of fragmentation and financial instability;
Amendment 86 #
2022/2061(INI)
Motion for a resolution
Recital J b (new)
Recital J b (new)
J b. whereas a more stable, competitive and convergent Economic and Monetary Union requires the completion of the Banking Union with its third pillar of a fully-fledged European Deposit Insurance Scheme, a deep and fully functional Capital Markets Union, a permanent euro area budgetary instrument, a revised fiscal framework and more effective cooperation and coordination on tax affairs;
Amendment 89 #
2022/2061(INI)
Motion for a resolution
Recital J c (new)
Recital J c (new)
J c. whereas the raising of interest rates by the ECB has been immediately reflected in the interest paid by households and companies to banks, thus significantly increasing banks’ profits, while it negatively affected households’ and companies’ capacity to pay their loans;
Amendment 97 #
2022/2061(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that the banking sector, in conjunction with public support measures, haspublic support measures coupled with the ECB's monetary policy decisions and regulatory adjustments - which allowed for loan repayment moratoria and credit renegotiation - acted as a shock absorber for the economic crisis triggered by the COVID- 19 pandemic; acknowledges that strengthening the prudential requirements implemented after 2008 has improved the EU banking sector’s resilience;
Amendment 101 #
2022/2061(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Recalls that the Banking Union (BU) is an essential complement to the Economic and Monetary Union (EMU) and the internal market, which aligns responsibility for supervision, resolution and funding at EU level and forces banks across the euro area to abide by the same rule book; welcomes the significant progress made since the financial crisis of 2008 through the establishment of the SSM and the SRM; highlights that Europe’s banks are in a stronger position to withstand financial shocks, and resolution mechanisms are in place to ensure that failing banks can be wound up without the use of taxpayers’ money; calls for the completion of the Banking Union, most notably through the implementation of the European Deposit Insurance Scheme (EDIS);
Amendment 111 #
2022/2061(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the EU should fairly and fully implement the Basel III reform in a timely manner; stresses the need for the EU to transpose the Basel agreement as close as possible to these standards, in order to remain a credible and reliable international partner; welcomes the European Parliament’s political agreement on the CRR and CRD;
Amendment 121 #
2022/2061(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that the ECB has decided to raise its main interest rates from 0 % to 23 % for the main refinancing operation rate; alerts to the negative impact that such hikes have on the capacity of households and companies to pay their loans; reminds the social and economic downsides of a strict monetary tightening, and calls on the ECB to take such downsides into account when making monetary policy decisions; encourages banks to reflect increases in interest rates more accurately in their deposit interest, thus encouraging citizens to make savings;
Amendment 127 #
2022/2061(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Reminds that the inflationary environment was largely due to external factors, most notably the Russian war of aggression against Ukraine, namely its impact on energy, fertiliser and grain prices, and the disruption of supply chains resulting from the Covid-crisis, and not from low interest rates or excessive liquidity in financial markets;
Amendment 131 #
2022/2061(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the climate stress test conducted by the SSM in 2022 and takes note of the targets set for 2024; reiterates its concern with financial exposures stemming from climate risks;
Amendment 143 #
2022/2061(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the ongoing work by the ECB on the digital euro; looks forward to the Commission’s legislative proposal and the ECB Governing Council’s decision on the digital euro; points out that the digital euro must prioritise a high level of privacy, data protection, confidentiality of payment data, cyber resilience and security;
Amendment 153 #
2022/2061(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Highlights the role of the banking system in supporting the transition to a carbon-neutral economy; considers that the new geopolitical environment increases the urgency of this transition, most notably on clean energy production; underlines the utmost importance of making a socially just transition; reminds that the costs of this transition will be lower than the cost of inaction, as acknowledged by the ECB; encourages the ECB to assess the possibility of a differentiated rate for sustainable investments that contribute most to reducing inflationary pressures, such as those in energy efficiency and renewable energy production;
Amendment 159 #
2022/2061(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Encourages banks to take advantage of the opportunities offered by the digitalisation of the economy, while maintaining a high level of consumer and investor protection, especially for vulnerable groups with low digital or financial literacy levels; calls on the EBA to assess the best options to tackle artificial complexity and the exclusion of vulnerable groups from using basic banking services; stresses the need for further investments and research to develop innovative ways to bolster the cybersecurity of the banking sector;
Amendment 161 #
2022/2061(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Welcomes the creation of Next Generation EU and emphasises its important role in the economic recovery after the Covid-crisis and how it must serve as an opportunity to enhance public and private investments and support the modernisation of the economy; stresses the importance of maintaining a macroeconomic stabilisation tool for the euro area;
Amendment 166 #
2022/2061(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Restates the importance of a European safe asset in the euro area as a way to help stabilise financial markets and allow banks to reduce the exposure of their balance sheets to national sovereign debt; considers that NextGeneration EU provides high-quality, low-risk European assets, allowing for a rebalancing of sovereign bonds on banks’ balance sheets; highlights the importance of preserving the availability of safe assets in a permanent manner;
Amendment 168 #
2022/2061(INI)
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8 c. Welcomes the recent approval of the directive on improving the gender balance among directors of companies listed on stock exchanges, and related measures, following several years without progress; encourages all EU financial institutions to comply with the objectives of this legislation as soon as possible, thus contributing to gender balance in this sector;
Amendment 169 #
2022/2061(INI)
Motion for a resolution
Paragraph 8 d (new)
Paragraph 8 d (new)
8 d. calls on EU governments, institutions and bodies to achieve gender balance as soon as possible; reiterates the Parliament’s commitment not to take into account shortlists of candidates where gender balance has not been respected;
Amendment 172 #
2022/2061(INI)
9. Notes that since the beginning of 2022, the Common Equity Tier 1 ratio of SSM banks has decreased to 14.9674 % and the liquidity coverage ratio has also decreased to 164.362.03 %5 ; welcomes that the stock of non-performing loans in banks’ balance sheets has continued to decrease; underlines that banks should keep sufficient capital and liquid assets on hand to cope with the economic repercussions of the Russian war; _________________ 5 ECB, ‘Publication of supervisory data’, accessed 15 December 2022.
Amendment 176 #
2022/2061(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Notes the ECB review of its supervisory priorities for the next three years, which are (1) Strengthening resilience to immediate macro-financial and geopolitical shocks, (2) Addressing digitalisation challenges and strengthening management bodies' steering capabilities, and (3) Stepping up efforts in addressing climate change;
Amendment 182 #
2022/2061(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that the banking sector’s profitability has increased over the past year; highlights the importance of using these profits to build buffers and safeguard the stability of the financial system;
Amendment 184 #
2022/2061(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Stresses that banks under the ECB's supervision significantly reduced the payment of dividends following the ECB’s recommendation for suspension and limitation of said payments for 2020 and 2021, respectively; calls on the ECB to issue a similar recommendation taking into account the need for the financial sector to build up buffers and to prevent a deterioration of banks’ balance sheets;
Amendment 193 #
2022/2061(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. NoteRecalls that banks’ exposuthe main objectives of the BU ares to domestic sovereign debt remain high; recalls that one of the main objectives of the BU is to break the link between bank and sovereign risksguarantee financial stability, protect the tax-payer and allow for a higher degree of European market integration; notes, in this regard, that banks' exposures to domestic sovereign debt remain high;
Amendment 222 #
2022/2061(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Reiterates that bank-like systemic risks can occur where credit intermediation takes place in an environment where regulatory standards and supervisory oversight are looser than for regular banks;
Amendment 226 #
2022/2061(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Stresses the risks stemming from banks’ exposures to the shadow-banking sector; underlines the systemic risks resulting from interconnections and complexity, underpinning the ‘too big to fail problem’; calls on the Commission to assess the need to better regulate the shadow-banking sector and to put forward, where appropriate, legislative proposals;
Amendment 236 #
2022/2061(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes that crypto-assets create new challenges for banks; welcomes the forthcoming adoption of the regulation on markets in Crypto-assets in this regardand the provisional agreement on the regulation on information accompanying transfers of funds and certain crypto-assets in this regard; notes the publication in December 2022 of the Basel standards for the prudential treatment of crypto-asset exposures; calls on the Commission to swiftly submit a legislative proposal to the European Parliament and the Council to adopt these standards into EU law, where appropriate;
Amendment 250 #
2022/2061(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Is concerned by the lack of a mechanism in the Banking Union to ensure that liquidity can be provided to a bank in the event of a resolution in order to ensure the smooth continuity of services and the stability of financial markets, and calls on the Commission to address this gap without further delay;
Amendment 254 #
2022/2061(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Takes note of the SRB’s work programme for 2023; emphasises that the Single Resolution Fund (SRF) should be fully filled up and that all banks should be fully resolvable by the end of 2023; highlights the SRF’s crucial role in preventing bank bailouts by tax payers; notes that further progress is needed by all banks;
Amendment 255 #
2022/2061(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Welcomes the Eurogroup agreement to introduce a backstop to the SRF, in the form of a revolving credit line from the European Stability Mechanism (ESM); regrets that its implementation was not reached in 2022, as envisioned by said agreement; recalls of its importance in strengthening the crisis management framework and as an important step towards completing the Banking Union; urges, therefore, the swift implementation of the SRF backstop;
Amendment 256 #
2022/2061(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19 b. Regrets that Member States continue to act outside the Community framework, undermining Parliament’s role as co-legislator; asks to be kept informed at all times of the ongoing discussions at the level of the Eurogroup and of the High-level Working Group on the EDIS;
Amendment 261 #
2022/2061(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Points out the need to address the loopholes identified in the resolution framework; asks that the public interest assessment be further specified and harmonised, so that the choice of the resolution strategy to be followed in case a bank faces difficulties follows a more consistent and predictable manner; calls for greater harmonisation of the treatment of small and medium-size banks; stresses that the resolution framework and State aid rules should be consistent; notes that currently the setting of the minimum requirement for own funds and eligible liabilities (MREL) level is decided by the SRB on a case-by-case basis;
Amendment 270 #
2022/2061(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. CRegrets that the Commission has failed to propose the legislative initiative on crisis management and deposit insurance framework (CMDI) in the timeframe it committed itself to the Commission Work Programme 2021; calls on the Commission to put forward an ambitious and comprehensive review of the crisis management and deposit insurance framework; recalls that protecting taxpayer money is one of the main objectives of the resolution framework;
Amendment 283 #
2022/2061(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Regrets that the BU is still incomplete owing to the absence of an EDIS; recognises that the EDIS would improve protection for depositors in the EU; recalls that the EDIS is the most tangible element of the BU for EU citizens; considers that the EDIS would provide an additional safeguard to host Member States and cwould therefore contribute to addressing home/host issues and foster deeper integration ;
Amendment 293 #
2022/2061(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. AHighlights that, despite the implication of the Covid-19 pandemic and the war in Ukraine, the non-performing loans (NPL) ratio decreased to 2.29%; acknowledges the significant progress made regarding the reduction of risks in the banking sector; regrets, on the other hand, the limited progress regarding risk sharing; calls for a risk sharing mechanism, while continuing the risk reduction trend; recalls the analysis of the SSM, stating that 'the implementation of EDIS should not be linked to further risk reduction benchmarks';
Amendment 301 #
2022/2061(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Points out that any EDIS should take into account clear rules for the participation of non-euro-area Member States; encourages the Eurogroup to work in inclusive format to finalise on a consensual basis a time-bound and action driven work plan on the way towards its completion;
Amendment 303 #
2022/2061(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25 a. Acknowledges the different concepts for a European deposit insurance framework; considers, nonetheless, that any short-term solution should not prevent the establishment of a fully mutualised EDIS as soon as possible;
Amendment 308 #
2022/2061(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Welcomes the statement by the negotiation team of the Parliament announcing the reopening of discussions on the EDIS at Parliamentnd their call to the Commission that the CMDI should not be considered as a replacement for a EDIS; calls for the co-legislators to reach an agreement on the file before the end of the legislative period;
Amendment 310 #
2022/2061(INI)
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26 a. Supports the joint declaration signed by the Chair of the Parliament’s Committee on Economic and Monetary Affairs, and the respective coordinators for six political groups (EPP, S&D, RE, Greens, ECR and The Left) of 7 December 2022 on the European Deposit Insurance Scheme; reiterates its call for the Commission not to retract its 2015 EDIS proposal, which should remain on the table as the basis for restarting discussions; reiterates its call urging the Council to end the stalemate that has blocked progress for years and to work constructively with the Parliament to reach an agreement on EDIS;
Amendment 3 #
2022/2060(INI)
Motion for a resolution
Citation 16 a (new)
Citation 16 a (new)
Amendment 4 #
2022/2060(INI)
Motion for a resolution
Citation 16 b (new)
Citation 16 b (new)
— having regard to the European Securities and Markets Authority (ESMA), "Report on CRA Market Share Calculation" of 15 December 2022,
Amendment 42 #
2022/2060(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Emphasises that the global strength and importance of the EU single market derives from its internal competitiveness and equalised level- playing field;
Amendment 45 #
2022/2060(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Reiterates that competition policy cannot be pursued in isolation, as an end in itself, without reference to the legal, economic, political and social context; and that it is committed to achieving the Union’s objectives as enshrined in Article 3 TEU such as full employment and social progress, a high level of protection and improvement of the quality of the environment, and the promotion of scientific and technological advancement;
Amendment 58 #
2022/2060(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Takes note of the draft Commission Notice on the definition of the relevant market for the purposes of Union competition law; welcomes the Commission’s clarification in this draft to not only rely on a product’s price when defining the relevant market but also the level of innovation; considers innovation competition as an essential element for the determination of the relevant market; underlines the need for including a behavioural analysis of consumer behaviour when defining the relevant product market;
Amendment 92 #
2022/2060(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls on the Commission to safeguard the integrity of the internal market and is deeply concerned about the risk of increasing fragmentation within the internal market due to excessive use of subsidies in response to the US Inflation Reduction Act; understands the need for additional public investments, but warns against a global subsidy race; stresses that any additional state support should be targeted and temporarily, and should be consistent with EU policy objectives such as the Green Deal and the Pillar of Social Rights; considers the introduction of dedicated permanent, if necessary debt- financed, European investment funds to be a better policy response;
Amendment 105 #
2022/2060(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Reminds that a fragmented approach to State aid has the potential to create an uneven playing field within the EU internal market as not all Member States have the same fiscal space to provide support; calls therefore for the monitoring of potential distortive effects and for any flexibilisation of the State aid framework to be applied solely to State aid provided at European level;
Amendment 110 #
2022/2060(INI)
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Supports the creation of a European Sovereignty Fund, as an opportunity to establish a system of EU State aid that prevents the risk of internal market fragmentation which is inherent to decentralised State aid systems;
Amendment 114 #
2022/2060(INI)
Motion for a resolution
Paragraph 5 c (new)
Paragraph 5 c (new)
5c. Is of the opinion that the flexibilisation of the Temporary Crisis and Transition Framework (TCTF) should only apply to aid provided by the European Sovereignty Fund and the Recovery and Resilience Facility;
Amendment 116 #
2022/2060(INI)
Motion for a resolution
Paragraph 5 d (new)
Paragraph 5 d (new)
5d. Insists that the EU institutions and the Member States should ensure that the increased flexibility provided for firms in the Temporary Crisis and Transition Framework is conditional upon the funding being used to benefit employees and respect social and labour rights and the recipient firms commitments to set a path towards reducing the carbon footprint of energy consumption and implementing energy efficiency measures;
Amendment 118 #
2022/2060(INI)
Motion for a resolution
Paragraph 5 e (new)
Paragraph 5 e (new)
5e. Insists that the EU institutions and the Member States should also ensure that the increased flexibility provided for firms in the Temporary Crisis and Transition Framework is conditional upon the recipient firms commitments to refraining from paying bonuses to management, tax evasion, paying out dividends or offering share buy-back schemes for as long as they are receiving this support;
Amendment 141 #
2022/2060(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Welcomes the General Court’s judgment in the Ilumina/Grail case (Case T-227/21) confirming the European Commission’s Guidance on the application of the referral mechanism set out in Article 22 of Regulation No 139/2004 to certain categories of cases, which enables the Commission to examine and to eventually prevent mergers below the quantitative jurisdictional thresholds defined by the Merger Regulation;
Amendment 143 #
2022/2060(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Urges the Commission to initiate a revision of the Merger Regulation in case the Court of Justice revokes the General Court’s judgment upon appeal and declares the Commission’s guidance void;
Amendment 154 #
2022/2060(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls for the quantitative jurisdictional thresholds in the EC Merger Regulation to be reviewed and lowered; calls for the introduction of a rebuttable presumption that effective competition is significantly impeded by any concentration leading to a dominant position in a relevant market or any concentration involving a very large market operator or a gatekeeper; calls for matters of public interest, such as climate protection, sustainability , consumer vulnerability and the rule of law, to be taken into account when examining the impact of a concentration on the internal market; underlines that public interests may only be invoked with a view to declaring a merger incompatible with the single market; calls for the inclusion of review clauses in decisions approving a concentration with a view to introducing more stringent conditions;
Amendment 172 #
2022/2060(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Recalls that the current de minimis Regulation on State aid expires at the end of 2023; notes the call for evidence by the Commission on its review of the services of general economic interest (SGEI) de Minimis Regulation (Regulation 360/2012); calls on the Commission to assess how EU competition principles have affected the supply of services of general economic interest, also in light of the Covid crisis and increased costs of living;
Amendment 177 #
2022/2060(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Welcomes the Commission ‘Guidelines on the application of EU competition law to collective agreements’, clarifying that EU competition law does not prevent solo self-employed workers from engaging in collective bargaining; recalls that precarious working conditions of self-employed workers often stems from limited or no access to collective bargaining;
Amendment 194 #
2022/2060(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Calls for a market investigation, which should be triggered automatically upon the fulfilment of certain conditions, such as a specific rise in prices, instead of sector inquiries;
Amendment 198 #
2022/2060(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
Amendment 199 #
2022/2060(INI)
Motion for a resolution
Paragraph 15 b (new)
Paragraph 15 b (new)
15b. Underlines the importance of damages for infringements of competition law; considers it necessary to alleviate the burden on injured parties to successfully claim damages by introducing an obligation of the competent competition authority to state the extent of the damages in the public enforcement decision or by introducing a presumption of a minimum amount of damages calculated in relation to the infringement of competition law;
Amendment 200 #
2022/2060(INI)
Motion for a resolution
Paragraph 15 c (new)
Paragraph 15 c (new)
15c. Deplores the fact that still seven Member States have not yet completed the implementation of Directive (EU) 2019/1 (ECN+ Directive) despite the transposition period having already been expired on 4 February 2021; stresses the important role of national competition authorities in enforcing competition law and in adopting interim measures;
Amendment 232 #
2022/2060(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Welcomes the presentation by the Commission of draft guidelines for sustainability agreements; underlines the need for a broad understanding of consumer welfare, which should include not only price levels, but also sustainability considerations; considers that similar authorisations should be extended to agreements that improve animal welfare, prevent deforestation, or provide for living wages; or aim at addressing and mitigating adverse impacts of companies in line with their due diligence obligation;
Amendment 236 #
2022/2060(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. IStresses that supporting the European Green Deal is an objective to be pursued by competition policy; is of the opinion that sustainability is not only pursued by derogations from competition law provisions, but also by the application of competition law provisions in order to promote sustainability; calls for the presentation of draft guidelines on abusive practices, in particular with regard to achieving sustainability goals;
Amendment 249 #
2022/2060(INI)
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20b. Regrets that the concentration in the market for credit rating agencies continues to deepen with S&P Global's market share being over 50% and the three largest agencies holding over 90% of the market according to the ESMA report on CRA Market Share of December 2022; concludes that existing measures to enhance competition in this market are insufficient; calls for the creation of a European public credit rating agency as an impartial and trusted alternative to existing agencies;
Amendment 258 #
2022/2060(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Deplores the distortive effects of aggressive tax planning on fair competition; calls for companies that use third-country tax havens to be excluded from receiving State aid, as these companies are competing under unfair conditions with companies established in non-tax havens;
Amendment 282 #
2022/2060(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Calls on the European Council to adopt a decision under Article 48(7)(2) TEU allowing for the adoption of legislative acts in the area of competition policy in accordance with the ordinary legislative procedure;
Amendment 1 #
2022/2051(INL)
Draft opinion
Paragraph -1 (new)
Paragraph -1 (new)
-1. Welcomes the final report on the final outcome of the Conference which includes 49 proposals1a and which was presented to the Presidents of the three institutions on 9 May 2022; notes that several proposals are to be considered of an economic nature and highlights that some recommendations could also be followed up in the framework of the current Treaties; notes that some of them would require treaty change to be fully implemented; _________________ 1a Conference on the Future of Europe - Report on the Final Outcome, May 2022
Amendment 2 #
2022/2051(INL)
Draft opinion
Paragraph -1 a (new)
Paragraph -1 a (new)
Amendment 6 #
2022/2051(INL)
Draft opinion
Paragraph 1
Paragraph 1
1. Insists on more democratic legitimacy, accountability and scrutiny of the Union economic policies; stresses for thenotes that the Eurogroup and the Euro Summit are informal forums of discussion within the Economic and Financial Affairs (Ecofin) Council; Calls on the Member States to act within the Community framework stresses the need for the decision-making framework, institutions and tools for EU economic governance to be under the Community method; calls for any Treaty revision to grant the Parliament its role as co-legislator its right to and democratic oversight in these policies; Calls for a broader participation, including EP, MS and Social Partners in the definition of economic policy priorities to further ownership of the reforms;
Amendment 10 #
2022/2051(INL)
Draft opinion
Paragraph 1 – point 2 a (new)
Paragraph 1 – point 2 a (new)
Amendment 15 #
2022/2051(INL)
Draft opinion
Paragraph 2
Paragraph 2
2. Supports an economic governance framework that ensures stability, full employment, strategic and sustainable investments, democratic accountability and ownership, and fiscal policies and instruments to counteract shocks; Notes that the Conference on the Future of Europe discussions highlighted the strong demand of a deep review of EU's economic governance and the European Semester, in order to ensure that the green and digital transitions, social justice and social progress go hand in-hand with economic competitiveness; reminds that the Parliament3a agreed to an urgent reform of the Union’s economic governance architecture, including simpler and clearer fiscal rules and a framework more conducive to long-term economic growth; _________________ 3a European Parliament INI report of 8 July 2021 on the review of the macroeconomic legislative framework for a better impact on Europe’s real economy and improved transparency of decision- making and democratic accountability (2020/2075(INI))
Amendment 18 #
2022/2051(INL)
Draft opinion
Paragraph 2
Paragraph 2
2. Supports an economic governance framework that ensures stability, full employment, strategic and sustainable investments, democratic accountability and ownership, and fiscal policies and instruments to counteract shocks; stresses the need for the application of the fiscal rules to be more flexible and subject to the democratic supervision of the Parliament;
Amendment 20 #
2022/2051(INL)
Draft opinion
Paragraph 2 – point 3
Paragraph 2 – point 3
3. Article 122 TFEU shall be amended to lay down a single procedure whereby the Council, acting by qualified majority after obtaining the consent of the European Parliament, may adoptprovide for the application of the ordinary legislative procedure in the adoption of temporary measures to address severe or exceptional economic situations, without prejudice to other procedures provided for in the Treaties;
Amendment 25 #
2022/2051(INL)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Stresses the importance of the EU economic governance framework to enable governments to promote public investment and ensure debt sustainability; recalls that the Economic and Monetary Union cannot function smoothly without a fiscal capacity at European level capable of providing a counter-cyclical stabilisation function and timely and adequate support in the event of economic shocks, calls for further consideration to common borrowing at EU level, with a view to creating more favourable borrowing conditions, while maintaining responsible fiscal policies at Member State; calls to transform the SGP into a Sustainable Development Pact, imbedded in a Sustainable Development cycle and enable the just, green and digital transition; calls for the development and completion of the Capital Markets Union and Banking Union, including a fully- fledged European Deposit Insurance Scheme (EDIS);
Amendment 26 #
2022/2051(INL)
Draft opinion
Paragraph 2 b (new)
Paragraph 2 b (new)
2 b. Calls for an assessment on the Maastricht criteria, including the deficit and public debt targets, benefiting from the experience accumulated over these last two decades of the single currency, namely on economic growth and public investment, and from the lessons learned from previous and current crisis, namely the most disruptive ones, such as the financial and sovereign crisis from early 2010´s, COVID pandemic and the War in Ukraine;
Amendment 30 #
2022/2051(INL)
Draft opinion
Paragraph 2 – point 4
Paragraph 2 – point 4
4. Article 311 TFEU shall be amended so that the decision laying down the provisions relating to the system of own resources of the Union and the implementing measures for that system are adopted by the Council acting by qualified majority after obtaining the consent of the European Parliamentin accordance with the ordinary legislative procedure;
Amendment 34 #
2022/2051(INL)
Draft opinion
Paragraph 3
Paragraph 3
3. Calls for the economic governance to be redesigned taking into account lessons learned from the NGEU and SURE processesPoints out the importance of common tools to respond to economic shocks on an European level as learned from the previous financial crisis, the COVID-19 crisis and as well in the current economic shock due to the Russian aggression in Ukraine; Calls for the economic governance to be redesigned taking into account lessons learned from the NGEU and SURE processes; Calls for a stronger involvement of the European Parliament, on equal footing with the Council in defining the EU common priorities, and to ensure a proper scrutiny of its implementation;
Amendment 42 #
2022/2051(INL)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Highlights the positive impact and record of accomplishment of new EU instruments such as SURE and the design and operating model of the Recovery and Resilience Facility (RRF), that made it possible to maintain jobs and business and support the relaunch of the EU economy; calls for an assessment on the creation of a common permanent instrument, focused on investment and convergence, which can also act with a counter cyclical purpose, and based on a contractual basis for reforms; suggests the Treaties changes to be inspired by the SURE model for short term and targeted interventions and the RRF for long-term investment capacity to support structural strategic investments in Europe;
Amendment 42 #
2022/2051(INL)
Draft opinion
Paragraph 2 – point 6 a (new)
Paragraph 2 – point 6 a (new)
6a. Article 322(2) TFEU shall be amended to clarify the methods and procedure whereby the budget revenue provided under the arrangements relating to the Union's own resources is to be made available to the Commission, and to determine the measures to be applied, if need be, to meet cash requirements. That amendment shall be adopted by the European Parliament and the Council acting in accordance with the ordinary legislative procedure;
Amendment 50 #
2022/2051(INL)
Draft opinion
Paragraph 4
Paragraph 4
4. Urges that the framework of the ECB’s accountability to Parliament be improved; Calls for a more comprehensive definition of the price stability and the ways to achieve it; Highlights the secondary mandate of the ECB to support the general economic policies in the Union; calls for a clarification into Article 127 TFEU so as to ensure the primary objective of the European System of Central Banks to maintain price stability is without prejudice to the achievement of the objectives of the Union as laid down in Article 3 of the TEU;
Amendment 51 #
2022/2051(INL)
Draft opinion
Paragraph 4
Paragraph 4
4. Urges that the framework of the ECB’s accountability to Parliament be improved; Calls for a more comprehensive definition of the price stability and the ways to achieve it; recalls the independence of the ECB in the implementation of monetary policy in pursuit of its primary objective of price stability; calls for the involvement of the Parliament in the revision of the monetary policy strategy and the definition of the inflation target, in order to strengthen their democratic legitimacy;
Amendment 59 #
2022/2051(INL)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Emphasizes the importance of placing the European Parliament on equal footing with the European Commission and the European Council regarding its participation on the European Central Bank’s Governing Council meetings (Article 284 (ex Article 113TEC)) and the General Council meetings;
Amendment 72 #
2022/2051(INL)
Draft opinion
Paragraph 5
Paragraph 5
5. Underlines the numerous impediments to essential EU tax initiatives over the past decades; calls for gradual change that would allow QMV in certain tax questionsStresses that, for the long term, Member States should consider the added value of transitioning to qualified majority voting, as recommended by the Conference on the Future of Europe.; underlines the numerous impediments to essential EU tax initiatives over the past decades; calls for gradual change that would allow QMV in certain tax questions, such as highly integrated tax policies (VAT) or tax reforms that are approved by Member States in the framework of international negotiations; demands that no country should be granted a permanent veto of proposed legislation on its own, notably on tax issues; and calls to refine the concept of qualified majority in Art.16 TUE in this framework, as well as the passerelle-clause rules, notably ART 48(7);
Amendment 75 #
2022/2051(INL)
Draft opinion
Paragraph 5
Paragraph 5
5. Underlines the numerous impediments to essential EU tax initiatives over the past decades; calls for gradual change that would allow QMV in certain tax questions and in particular in the field of own resources;
Amendment 88 #
2022/2051(INL)
Draft opinion
Paragraph 6
Paragraph 6
6. Highlights the new challenges for Union’s competition policy (Art101-109 TFUE), which require that the Treaty be amended to align it with the goals of the Green Deal and the pEuropean Pillar of sSocial rRights and support the Union´s strategic autonomy in key sectors, calls for a level playing field in the single market in order to promote a stronger, more sustainable and inclusive EU global competitiveness; stresses the need for the Parliament to play an active role in the political debate on competition policy, via proper involvement in experts groups and working parties and by shaping and assessing the Commission’s enforcement priorities;
Amendment 110 #
2022/2051(INL)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Reiterates that the EU needs to address its lack of political weight at international level due, inter alia, to the lack of coherence of its representation in international organisations, which could be improved by implementing measures to ensure the unified representation of the EU and the euro internationally in all its dimensions and policies;
Amendment 2 #
2022/2046(INI)
Motion for a resolution
Citation 23 a (new)
Citation 23 a (new)
— having regard to the report from the World Bank, the Government of Ukraine, and the Commission of August 2022 entitled ‘the Ukraine Rapid Damage and Needs Assessment’,
Amendment 97 #
2022/2046(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Recalls, further, that, despite Parliament’s demands that the European Union Recovery Instrument (EURI) be placed over and above the ceilings, the refinancing costs are repaid from within the MFF ceilings, exerting further pressure on the MFF, especially in a context of rising interest rates; points, in that regard to the Amending Letter for the 2023 Budget, which increases appropriations on the EURI line by EUR 450 million by using two-thirds of available resources under the Single Margin Instrument, thereby curtailing the budget's ability to respond to emerging needs;
Amendment 100 #
2022/2046(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Observes the continuing demand for the EU budget to serve as a guarantee for additional macro-financial assistance (MFA); notes, however,underlines that, in the higher risksevent of default andor the large amount at stake entailwithdrawal of national guarantees, the EU budget ultimately underwrites all MFA loans and therefore significant contingent liabilities;
Amendment 143 #
2022/2046(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Considers that, while the new MFF structure with headings grouping spending by policy cluster is simpler and facilitates budgetary management within the Commission, the nomenclature - with a reduced number of budget lines and sometimes a single line covering a very large spending programme as is the case for the Asylum, Migration and Integration Fund and the Border Management and Visa Instrument - lacks the necessary granularity transparency and limits significantly proper oversight and decisions by the budgetary authority;
Amendment 220 #
2022/2046(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Recalls that payment appropriations flow directly from commitments and recalls, therefore, that any increase in the ceilings for commitments per heading will have to be accompanied by a corresponding increase in the ceiling for payments for the same or subsequent years; draws attention to the risk of an increasingly high payments backlog due to the worrying delays in programme implementation, particularly under shared management; calls on the Commission to conduct a risk analysis of payments in the context of the review and to make the necessary proposals in the revision while protecting the policies, their objectives and the preallocated national envelopes, with a view to avoiding a payment crisis that would severely affect beneficiaries of the EU budget; warns, further, about the increasing use of external assigned revenue as a substitute for appropriations under the MFF and the very acute risk that this may pose in honouring payments when the revenue is not guaranteed;
Amendment 11 #
2022/2040(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas these external shocks cannot serve as justifications for reshoring, isolationism or a rushed-up inward reorientation of the Union policies that would imply higher prices and a loss of jobs and disrupt even more the existing supply chains;
Amendment 15 #
2022/2040(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
A b. whereas the disruption of Union supply chains and the economic and social consequences on European citizens are further exacerbated by the steady deterioration of the rule of law and democracy in some Member States;
Amendment 17 #
2022/2040(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
A c. whereas the Union needs to preserve its internal cohesion and solidarity and a balanced position between all international partners, in particular the US and China;
Amendment 21 #
2022/2040(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas more transparent, traceable and standardised supply chains within a WTO and Union legislative framework are needed;
Amendment 22 #
2022/2040(INI)
Motion for a resolution
Recital B b (new)
Recital B b (new)
B b. whereas more Free Trade International Agreements, as well as investments in third countries, are urgently needed together with an effort to mitigate geopolitical tensions, invest in infrastructures and transportation, diversify the supply chains, promote social, economic and environmental sustainability, advance in circular economy and improve warehousing;
Amendment 23 #
2022/2040(INI)
Motion for a resolution
Recital B c (new)
Recital B c (new)
B c. whereas the Union does not produce enough key raw materials and components needed for the transition to a sustainable and digital economy, and relies heavily on imports both for commodities and for manufactured products;
Amendment 31 #
2022/2040(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas food supply chains are increasingly vulnerable and at risk from the impacts of climate change and natural disasters such as drought, flood, pests and diseases, as well as logistical challenges which were intensified as a result of lockdowns and restrictions during the COVID pandemic, and most recently due to the illegal, unprovoked and unjustifiable Russian invasion of Ukraine;
Amendment 50 #
2022/2040(INI)
Motion for a resolution
Recital G a (new)
Recital G a (new)
G a. whereas the Union may achieve positive changes only by actively supporting the global development agenda, creating positive economic spill- overs for our partners and reinforcing the socio-ecological and digital transition;
Amendment 51 #
2022/2040(INI)
Motion for a resolution
Recital G b (new)
Recital G b (new)
G b. whereas the Covid-19 pandemic confirmed that coordination and solidarity within the Union and between the Union and third countries is crucial to tackling major crises and that the Union and its partners should avoid protectionist measures while focusing on preventing supply chain disruptions and allowing the cross-border flow of essential products, in particular food products and medicines;
Amendment 52 #
2022/2040(INI)
G c. whereas the Commission in the Pharmaceutical Strategy for Europe has recognised the importance of fostering pharmaceutical production and investment in Europe and cooperating with international partners to work towards enhanced regulatory cooperation;
Amendment 71 #
2022/2040(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Considers the fact that recent supply chain disruptions, notably caused by the COVID-19 pandemic and, most recently, by the illegal, unprovoked and unjustifiable Russian invasion of Ukraine has highlighted the Union reliance on complex import and export chains, in particular for specific sectors;
Amendment 73 #
2022/2040(INI)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. Notes that import dependency for inputs increases vulnerability of food producers to external shocks, as now observed in fuel, fertiliser and feed chains; calls for Union production to be recalibrated towards more domestic production and sustainable practices which reduce the need for inputs, and to focus primarily on Union demand for safe, affordable and high-quality food;
Amendment 75 #
2022/2040(INI)
Motion for a resolution
Paragraph 3 c (new)
Paragraph 3 c (new)
3 c. Highlights the resilience of the agri-food sector during the COVID-19 pandemic, its ability to maintain the functioning of the food supply chains and ensure food security in what were very difficult circumstances;
Amendment 82 #
2022/2040(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Urges the Commission to develop a coordinated set of solutions aimed at increasing the resilience of Union supply chains by creating long-term, sustainable and inclusive development partnerships and alliances, diversifying suppliers, promoting domestic production and appropriate, targeted and proportionate stock-piling of critical raw materials and products to tackle market crises and price volatility, to secure supply and to prevent speculation;
Amendment 98 #
2022/2040(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Welcomes the EU Chips Act that represents a decisive and important step in the Union’s ambitious race for digital sovereignty and strategic autonomy in order to achieve Europe’s independence in the supply of this category of semiconductors;
Amendment 101 #
2022/2040(INI)
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Calls on the Commission to enter into consultations with relevant third countries in order to seek cooperative solutions to address future supply chain disruptions and to involve, where appropriate, coordination in relevant international fora while ensuring robust engagement with the stakeholder community;
Amendment 118 #
2022/2040(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Underlines that coordination and solidarity within Member States and between the Union and third countries is crucial to tackling major crises, as proved by the Covid-19 pandemic; stresses that populist movements and extremist parties established in some Member States are often in contrast with Union interests and principles, including increased coordination and solidarity, and prefer stocking the fire of divisions, in particular in time of uncertainty;
Amendment 120 #
2022/2040(INI)
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Calls on the Commission and the Member States to prevent supply chain disruptions and allow the cross-border flow of medicines by limiting any export restrictions on medicines, active pharmaceutical ingredients and other manufacturing input, adopting targeted regulatory flexibilities, establishing priority lanes for freight and air transport of medicines and ensuring cross-border mobility of workers; stresses the need to ensure medicines and their ingredients are exempted from sanctions to limit any potential adverse effects on patients;
Amendment 121 #
2022/2040(INI)
Motion for a resolution
Paragraph 6 c (new)
Paragraph 6 c (new)
6 c. Urges the Commission to support Member States by developing targeted Union rules on medicines procurement, under the current public procurement Directive, aimed at ensuring long-term sustainability, competition, security of supply and stimulating investments in manufacturing; calls on the Commission to propose incentives, such as EU funds and State Aid, to stimulate the production of critical goods such as off-patent medicines, to achieve its open strategic autonomy in view of any crisis, while ensuring long term resilient supply chains;
Amendment 125 #
2022/2040(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Stresses that fair, sustainable and value-based trade and markets which respect international law, as well as working with cooperatives partners, will reinforce the Union’s supply chains and ensure a level playing field and fair competition for workers and businesses to compete globally;
Amendment 149 #
2022/2040(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Underlines the importance to carry out an ambitious EU digital agenda with the aim to build strategic international partnerships, building on the experience of the Trade and Technology Council with the US, and to secure a leading position for the Union in digital trade and in the area of technology, most importantly by promoting innovation;
Amendment 169 #
2022/2040(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15 a. Highlights that the Union is deeply involved in global supply and value chains and that solutions pushing towards isolationism, an increase in non-tariff barriers on Union imports or an excessive inward reorientation of its policies would have very negative effects on Union workers and businesses, increase political and economic degradation and shrink the Union’s global economy share;
Amendment 172 #
2022/2040(INI)
Motion for a resolution
Paragraph 15 b (new)
Paragraph 15 b (new)
15 b. Underlines that the Union should focus on improving the production of critical goods and services, and that the introduction of effective autonomous strategic policies requires more cohesion among Member States and a much deeper European integration with a stronger and democratic European governance to further strengthen the link between trade, industrial, social, foreign policies, development, security, financial and taxation;
Amendment 173 #
2022/2040(INI)
Motion for a resolution
Paragraph 15 c (new)
Paragraph 15 c (new)
15 c. Stresses the importance for the Union to actively seek genuine partnerships and better connections with developing countries and create lasting partnerships based on fair, sustainable value-based trade and development cooperation able to address local problems such as famine, poverty and inequality, epidemics and climate change; highlights that this may be achieved by enhanced cooperation with international development institutions as well as more support to Union’s international projects, which fall under the Global gateway strategy and the NDICI-Global Europe;
Amendment 180 #
2022/2040(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Calls on the Commission to urgently relaunch the negotiations around the ongoing trade agreements, to finalise those where an agreement is near, and to focus on new ones, including Association and Economic partnerships’ agreements, in line with the review of the TSD chapter;
Amendment 7 #
2022/2037(INI)
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
— having regard to the IMF´s 2022 World Economic Outlook,
Amendment 17 #
2022/2037(INI)
Motion for a resolution
Citation 13 a (new)
Citation 13 a (new)
— having regard the European Parliament resolution of 19 May 2022 on the social and economic consequences for the EU of the Russian war in Ukraine – reinforcing the EU’s capacity to act (2022/2653(RSP)),
Amendment 18 #
2022/2037(INI)
Motion for a resolution
Citation 13 b (new)
Citation 13 b (new)
— having regard the European Pillar of Social Rights,
Amendment 29 #
2022/2037(INI)
Motion for a resolution
Recital C
Recital C
C. whereas according to the ECB projections of September 2022, headline inflation is expected to fall from 8.1 % in 2022, 5,5% in 2023 to 2.3 % in 2024;
Amendment 56 #
2022/2037(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Is deeply concerned by the unprovoked Russian invasion of Ukraine and by its repercussions for the European economyserious, long-lasting and unpredictable repercussions for the European economy and society, especially for the most exposed and vulnerable groups, such as lower-income households and SMEs;
Amendment 59 #
2022/2037(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Understands the current challenges, uncertainty and complex environment to drive the monetary policy. Notes that ECB has limited tools or influence to address an high inflation trend that is mainly supply driven. Welcomes the assurance by the ECB and its members to be ready to take the actions needed to safeguard financial stability;
Amendment 61 #
2022/2037(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Calls for ECB to make full use of the current policy tools at its disposal and consider all unconventional monetary policy instruments and flexibility within its mandate to ensure financial and macroeconomic stability and provide enough liquidity to serve the real economy and financial system;
Amendment 65 #
2022/2037(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Highlights that the statutory independence of the ECB, as laid down in the Treaties, is a prerequisite for it to fulfil its mandate; Highlights that central bank independence should be accompanied by a corresponding level of accountability;
Amendment 69 #
2022/2037(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Welcomes the Republic of Croatia as the 20th member country of the euro area; Calls on ECB for an adequate reflection on how to apply the current euro accession criteria during extraordinary, disruptive and uncertain events, such as Ukraine conflict, in order to proceed with Economic and Monetary Union integration. Calls on the ECB to promote the benefits of adopting the euro as an incentive for other non-euro members to join or speed up their efforts for future accession;
Amendment 80 #
2022/2037(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that fiscal, budgetary and monetary policies have reinforced each other during the pandemic; stresses that maintaining price stability today requires even closer coordination between fiscal, budgetary, monetary and structural policies, as addressing supply- side shocks requires greater supply-chain resilience and a shift away from fossil fuels;with the appropriate level of investment, and a shift away from fossil fuels; Notes that during COVID, all EU institutions and Member States worked together, swiftly, in a coordinated manner and within their mandates to tackle the social, economic and financial impacts of the crisis
Amendment 85 #
2022/2037(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Highlights that unprecedented crises demand unprecedented, innovative and bold decisions on monetary policy coupled with swift and broader coordination with the fiscal policy at EU and national level;
Amendment 86 #
2022/2037(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Stresses that sustainable growth, resilience and price stability cannot be achieved by monetary policy alone and that supportive and discretionary fiscal policy and socially balanced and productivity-enhancing reforms and investments are also necessary;
Amendment 95 #
2022/2037(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes President Lagarde’s statement that the current geopolitical crisis requires us to progress on EU fiscal integration; recalls that the Economic and Monetary Union cannot function smoothly without a fiscal capacity at European level to respond to externalcapable of providing a counter-cyclical stabilisation function and timely and adequate support in the event of economic shocks;
Amendment 97 #
2022/2037(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Highlights that monetary and fiscal policies should work together to help households and businesses most affected by the pandemic and the Russian war of aggression against Ukraine;
Amendment 98 #
2022/2037(INI)
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Recalls on the lessons learned and success of new EU instruments such as SURE and the design and operating model of the Recovery and Resilience Facility (RRF), that are currently on EU´s toolbox. Underlines the role of SURE model for short term and targeted interventions and the RRF as a long-term investment capacity to support structural strategic investments in Europe;
Amendment 99 #
2022/2037(INI)
Motion for a resolution
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Calls for support to develop and complete the unfinished infrastructure for the common currency, namely to deepen and complete the Economic and Monetary Union (EMU), the Banking Union and the Capital Markets Union (CMU). Given the uncertain impact of a deeper economic downturn with spillovers to the banking system, is concerned about the risks caused by the serious delay in completing the third pillar of the banking union and repeats its calls for its swift completion; welcomes the ECB’s long- standing support of the establishment of a fully-fledged European Deposit Insurance Scheme (EDIS);
Amendment 100 #
2022/2037(INI)
Motion for a resolution
Paragraph 5 d (new)
Paragraph 5 d (new)
5 d. Calls on the ECB to explore ways of strengthening the international role of the euro; notes that making the euro more attractive as a reserve currency will further enhance its international use; stresses that the creation of a well- designed European safe asset could facilitate financial integration and help mitigate the negative feedback loops between sovereigns and the domestic banking sectors; Underlines that strengthening the role of the euro requires the deepening and completion of the European economic and monetary union, including the creation of instruments of the nature of Next Generation EU, which enhance the EU budget;
Amendment 106 #
2022/2037(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Echoes President Lagarde’s call for a swift revision and simplification of the Stability and Growth Pact; Recalls that the upcoming revision of the economic governance framework has to provide the EU with stable, transparent, credible and flexible rules that could be implemented and respected by all Member States. Recalls that fiscal rules are essential for the proper functioning of the EU and should be respected. Recalls that rules should be applied in an intelligent way and within a flexible framework that adapts quickly to changes with the proper democratic accountability. The new framework should promote growth and ensure a better balance between sustainability and stabilisation. Notes that the new Transmission Protection Instrument (TPI) is now linked with the EU fiscal rules and its activation requires sustainable economic policies and compliance with the EU fiscal framework;
Amendment 113 #
2022/2037(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Is alarmed that euro area inflation has continued to rise and has reached undesirably high levels; stresses that headline inflation rose to a record 9.1 % in August 2022; stresses that energy is by far the most significant driver of inflation (38.3 %), followed by food prices (10.6 %); Notes that ECB forecasts an headline inflation of 8% in 2022, 5,5% in 2023 and 2,8% in 2024, with risks on the upside due to disruptions in the supply of energy;
Amendment 128 #
2022/2037(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Takes note of recent ECB monetary policy decisions to raise rates by 50 and 75 basis points in July and September 2022; is concerned about the implications of such policy decisions for growth and employment; Calls for a reflection of a more balanced and gradual adjustment of policy instead of a large and fast upfront tightening. Notes that latest economic and financial indicators point that EU economy is likely heading towards a worse than expected recession with the risk of a wide negative social impact with only moderate effect on the inflation rate. Calls for a more insight update and justification of the future policy rate decisions, given the current situation and high level of uncertainty;
Amendment 142 #
2022/2037(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Observes that there is little evidence that rising inflation is spurring a wage-price spiral, not least given the extent of wage restraint in recent years; Notes that the IMF, in its 2022 World Economic Outlook, concluded that, on average, the risks of a wage spiral are limited, so far. Notes that IMF underlines that three main drivers are containing the risks: the shocks to inflation are coming from outside the labor market, falling real wages are helping to reduce price pressures, and central banks are aggressively tightening monetary policy;
Amendment 154 #
2022/2037(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Recalls that the ECB strategy review reconfirmed the medium-term orientation of inflation targeting; calls on the ECB to faithfully target this medium- term horizon; Calls on the ECB to monitor attentively price developments and its consequences. Highlights the need to inform about where neutral interest rate is setting;
Amendment 175 #
2022/2037(INI)
12. Stresses that an even transmission of monetary policy is vital to the achievement of the ECB’s price stability mandate; notWelcomes the ECB’s decision on 15 June 2022 to apply flexibility in reinvesting redemptions that are due under the pandemic emergency purchase programme; welcomes the launch of the Transmission Protection Instrument to ECB´s toolkit to support the effective transmission of monetary policy across the euro area and normalise the monetary policy; Notes that compliance with the EU fiscal framework is pre-requisite for TPI´s activation; Calls on ECB to take into account that the general escape clause is activated; Calls for a more clear TPI´s framework and rules of procedure when the general escape clause is activated;
Amendment 183 #
2022/2037(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes with concern that the combination of cheap targeted longer-term refinancing operations (TLTROs) and higher interest rates allow European banks to earn billions in extra profit; regrets the fact that the ECB has not yet addressed this issue and the risk of generating another “excess profit” case in EU with damaging social impact ; regrets the fact that the ECB has not yet addressed this issue and calls for concrete proposals to prevent excess profits in the banking system;
Amendment 188 #
2022/2037(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Calls on the lessons learned from the ongoing and previous crises to prepare for the upcoming assessment of monetary policy strategy in 2025. Calls for an earlier assessment, if possible, given the extraordinary impact of the current crisis on the future of monetary policy making and ECB mandate. Reflects on the commitment to symmetry, if price stability is best maintained by aiming for 2% inflation over the medium term and the challenges of monetary policy when disruptive supply side driven inflation is at stake;
Amendment 201 #
2022/2037(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recalls that the Treaty on the Functioning of the European Union requires the ECB to support the general economic policies of the Union; which include balanced and sustainable economic growth, highly competitive social market economy aiming at full employment and social progress and convergences and a high level of protection and improvement of the quality of the environment, underlines that sustainable development, convergence, full employment and social progress are general objectives of the Union as defined in Article 3 of the TFEU;
Amendment 211 #
2022/2037(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls on the ECB to coordinate with the European Parliament to specify theand how to implement the ECB´s secondary objectives; suggests taking advantage of this resolution to specify and prioritise the policy areas where the ECB is expected to deliver on the basis of its secondary objectives; calls on the ECB to elaborate in its Annual Report the impact its monetary policy may have had on the general economic policies of the Union;
Amendment 221 #
2022/2037(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Highlights that investments needed to enhance EU´s autonomy in strategic sectors should be supported by the monetary policy and are key to protect EU from external shocks and reduce the risks for price stability from supply-side shocks;
Amendment 222 #
2022/2037(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Recalls for the important role of ECB in supporting the implementation of the European Pillar of Social Rights;
Amendment 227 #
2022/2037(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Underlines the pivotal role of small and medium-sized enterprises (SMEs) in the EU’s economy and economic and social convergence and employment and for the implementation of the twin transitions (digital and climate);
Amendment 239 #
2022/2037(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Considers that the ECB should contribute to reducing inequality; calls on the ECB to ensure that the costs of its monetary policy operations are not disproportionately borne by lower income strata; invites the ECB to assess the effects of its monetary policy decisions on employmentCalls for an assessment on the impact of the monetary policy decisions on these most vulnerable groups; invites the ECB to assess the effects of its monetary policy decisions on employment; Notes that the ECB strategy review showed that adverse events lower the consumption of poorer households more than that of richer ones, that takes longer for the employment prospects of poorer households to recover following such events and that keeping monetary policy expansionary for longer can help poorer households’ income to rise to higher levels in a more sustained manner and thereby avoid hysteresis;
Amendment 251 #
2022/2037(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Highlights the ECB role to finance the climate transition and green agendas. Stresses that addressing the climate emergency and the euro area’s dependence on fossil fuels touches not only upon the ECB’s secondary mandate, but also its primary mandate, given the serious threat these issues pose to price stability;
Amendment 259 #
2022/2037(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Welcomes the Governing Council’s decision to take further steps to include climate change considerations in the Eurosystem’s monetary policy framework; Welcomes the launch of the scoreboard for green bonds;
Amendment 281 #
2022/2037(INI)
24. Regrets that the climate roadmap does not include greening of the ECB’s targeted long-term refinancing operations; stresses that providing cheapfavourable liquidity conditions to financial institutions investing in browncarbon intensive activities works against the fight against inflation and is not consistent with the objectives of the Paris Agreement;
Amendment 290 #
2022/2037(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Is concerned about the implications of higher interest rates for greenstrategic and sustainable investments; calls on the ECB to assess the possibility of applying differentiated rates to support green investments and disincentivise brown investmentthat contribute most to reducing inflationary pressures, such as those in energy efficiency and renewables;
Amendment 301 #
2022/2037(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Welcomes the ECB’s economy wide climate risk stress test aimdeveloped ato assessing the climate risk preparedness of the European banking sectorresilience of banks and corporations for climate transition ; is concerned that the results published on 8 July 2022 show that banks do not have robust climate risk stress-testing frameworks and lack the relevant data; calls on the ECB to use all its available tools to ensure that banks take climate risk seriously;
Amendment 305 #
2022/2037(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Stresses the need to further enhance the ECB’s accountability and transparency arrangements; Recognises the steps taken by the ECB; Calls for the relaunch of negotiations on a formal Inter- Institutional agreement, whilst ensuring the ECB’s independence which goes hand in hand with its accountability;
Amendment 324 #
2022/2037(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. Welcomes the ECB’s progress on the digital euro project, as well as the dialogue with Parliament in this regard; looks forward to the Governing Council reaching a decision on launching the digital euro; Calls on the ECB to effectively address the expectations and concerns on a digital euro which include concerns for privacy, security, usability, low cost and accessibility. Calls on the ECB to step up its monitoring of the development of crypto-currencies and the related risks in terms of cybersecurity, money laundering, terrorism financing and other criminal activities related with the anonymity provided by crypto-assets;
Amendment 333 #
2022/2037(INI)
Motion for a resolution
Paragraph 31 a (new)
Paragraph 31 a (new)
31 a. Calls for Enhancement of the ECB’s internal whistleblowing framework;
Amendment 337 #
2022/2037(INI)
Motion for a resolution
Paragraph 31 b (new)
Paragraph 31 b (new)
31 b. Calls for ECB to create an internal evaluation office for ex post assessment of its policy decisions;
Amendment 339 #
2022/2037(INI)
Motion for a resolution
Paragraph 31 c (new)
Paragraph 31 c (new)
31 c. Welcomes the new communications policy, with more accessible ways to explains and presents ECB policy decision to general public and stakeholders. Given the current negative impact of tightening of the monetary policy on household budgets and companies investment plans, suggests reinforcement of ECB´s communication on financial advices on how families and business could better manage and prepare for an higher interest rates environment;
Amendment 2 #
2022/2008(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Considers that the EU industrial strategy must be implemented in a coherent and coordinated way; stresses that freeair, sustainable and value-based trade and open markets which respect international law, as well as working with cooperative partners, will reinforce the EU’s industrial base; urges the Commission to deliver an ambitious trade agenda, in line with the Paris Agreement and the UN Sustainable Development Goals;
Amendment 19 #
2022/2008(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Is concerned that both the current and the proposed EU legislation envisages too many bureaucratic hurdles for EU businesses; calls on the Commission to cut un-necessary red-tape, fully implement the principles of better regulation and ‘think small first’, and to carefully apply the SME Test in its impact assessments;
Amendment 25 #
2022/2008(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Considers that for the EU to be competitive in open markets, every sector must receive sufficient support in developing its respective technological base and in promoting the research and innovation efforts carried out by public and private stakeholders; stresses that the Commission and the Member States should cooperate in the design and implementation of the Industrial Strategy, in order to guarantee increased coherence with the Commercial Policy, by diversifying and exploiting synergies, as well as to make different sectors more competitive at international level; calls on the Commission to draw up annual implementation reports for presentation to the European Parliament;
Amendment 42 #
2022/2008(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Calls for further negotiations to secure future-oriented trade agreements and to continue with the reform of the World Trade Organization; points out that trade and access to third markets are crucial in supporting the EU’s economic recovery and resilience, with the aim of strengthening the EU’s autonomy, diversifying its supply chains and guaranteeing its independence from any single producerReiterates its support for a multilateral agenda and urges WTO members to agree at the next MC12 on a work plan of reform to update the World Trade Organization rule book, and restore a level playing field and fair competition for workers and businesses; points out that trade and access to third markets are crucial in supporting the EU’s economic recovery and resilience;
Amendment 44 #
2022/2008(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Urges the Commission to pursue an open strategic autonomy to reduce dependence in critical sectors, diversify our value chains and guarantee its independence from single producers;
Amendment 48 #
2022/2008(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Strongly insists that the fight against illicit trade and the prevention of unfair competition, as well as strategic investment and takeovers by hostile actors, must remain a key priority; urges the Commission to work to pursue a trade and investment agenda to fight unfair policies and practices, such as the tripartite EU, US, Japan agreement;
Amendment 51 #
2022/2008(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Calls on the Commission to adopt and enforce a proper toolbox of measures to secure a level playing field for EU’s workers and businesses to compete globally, such as the International Procurement Instrument, due diligence, anti-coercion and foreign subsidies;
Amendment 52 #
2022/2008(INI)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7 b. Welcomes the efforts made by the EU-US Trade and Technology Council to coordinate approaches to key global trade, economic and technologies issues, as well as the ambitious agenda set for its second meeting;
Amendment 53 #
2022/2008(INI)
Draft opinion
Paragraph 7 c (new)
Paragraph 7 c (new)
7 c. Underlines the importance to carry out an ambitious EU digital agenda with the aim to build strategic international partnerships, and to ensure a leading position for the EU in digital trade and in the area of technology, most importantly by promoting innovation;
Amendment 54 #
2022/2008(INI)
Draft opinion
Paragraph 7 d (new)
Paragraph 7 d (new)
7 d. Highlights the importance to continue WTO negotiations on e- commerce and to reach a comprehensive and ambitious set of rules to facilitate business operations, especially for SMEs, and to strengthen consumers’ trust in the online environment;
Amendment 55 #
2022/2008(INI)
Draft opinion
Paragraph 7 e (new)
Paragraph 7 e (new)
7 e. Welcomes the Commission’s initiative for a European Chips Act that represents a decisive and important step in the EU’s ambitious race for digital sovereignty and strategic autonomy in order to achieve Europe’s independence in the supply of this category of semiconductors;
Amendment 56 #
2022/2008(INI)
Draft opinion
Paragraph 7 f (new)
Paragraph 7 f (new)
7 f. Highlights that the violence of the Russian invasion in Ukraine and the COVID-19 pandemic raised awareness of the risk of disruption on the supply of raw materials, such energy supply and agriculture commodities; stresses that the surge of energy prices is having a strong impact on the prices of agricultural raw materials and inputs, in particular fertilisers, underlining the need for new resilience schemes in order to ensure reliable supplies of safe, affordable and high-quality food for all EU consumers;
Amendment 65 #
2022/2008(INI)
8 a. Calls on the Commission and the Member States to work together and support the growth of enterprises to increase their competitiveness in trade and access to third country markets and to face the challenges of global technology giants.
Amendment 3 #
2022/2006(INI)
Motion for a resolution
Citation 14 a (new)
Citation 14 a (new)
— having regard to the Commission Communication of 27 May 2020 entitled ‘Europe’s moment: Repair and Prepare for the Next Generation’ (COM(2020)456),
Amendment 4 #
2022/2006(INI)
Motion for a resolution
Citation 15 a (new)
Citation 15 a (new)
— having regard to the Commission Communication of 4 March 2021 entitled ‘The European Pillar of Social Rights Action Plan’ (COM(2021)102),
Amendment 5 #
2022/2006(INI)
Motion for a resolution
Citation 15 b (new)
Citation 15 b (new)
— having regard to the Porto Social Commitment of 7 May 2021 of the Council, the Commission, the Parliament and social partners,
Amendment 7 #
2022/2006(INI)
Motion for a resolution
Citation 17 a (new)
Citation 17 a (new)
— having regard to the Commission Staff Working Document of 27 May 2020 ‘Identifying Europe’s recovery needs’,
Amendment 8 #
2022/2006(INI)
Motion for a resolution
Citation 19 a (new)
Citation 19 a (new)
— having regard to its resolution of 6 June 2021 entitled ‘European Parliament’s Scrutiny on the ongoing assessment by the Commission and the Council of the national recovery and resilience plans’,
Amendment 9 #
2022/2006(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Stresses that the Recovery and Resilience Facility (RRF) requires that the European Semester be reshaped to ensure the delivery of high-quality and ambitious national recovery and resilience plans (NRRPs); considers that the NRRPs are an opportunity for the Member States to contribute significantly to the economic and social recovery of the Union, to address identified structural challenges and to make their economies more shock- resistant, sustainable and inclusive in line with the European Pillar of Social Rights and the Sustainable Development Goals; deplores, however, that NRRPs fail to tackle adequately aggressive tax planning schemes;
Amendment 10 #
2022/2006(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the European Semester plays an important role in coordinating economic, employment, social and budgetary policies in the Member States, thereby safeguarding the macroeconomic stability of the Economic and Monetary Union; whereas the Semester has been expanded to include, among other aspects, issues related to the financial sector and taxation, as well as objectives of the UN SDGs;
Amendment 17 #
2022/2006(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Welcomes the Recovery and Resilience Scoreboard, which is designed to monitor progress on the implementation of the RRF; calls on the Commission to develop tools to ensure the robust implementation of the NRRPs and measure the attainment of targets and milestones as a prerequisite for the disbursement of RRF funds; points to the need to streamline reporting requirements, reduce the administrative burden and ensure conditions for proper implementation;
Amendment 18 #
2022/2006(INI)
Motion for a resolution
Recital B
Recital B
B. whereas according to the Commission’s autumn economic forecast, the GDP growth rate for 2022 is expected to be 4.3 % of GDP per capita for both the euro area and the EU-27, but is expected to fall to 2.4 % and 2.5 % respectively in 2023;
Amendment 21 #
2022/2006(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Reiterates the need for Member States to have the necessary control mechanisms in place to ensure respect for the rule of law and protect the EU’s financial interests; especially to prevent fraud, corruption and conflicts of interest;
Amendment 26 #
2022/2006(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the crisis caused by the COVID-19 pandemic led to an increase in social, territorial, economic and gender- based inequalities, resulting in extreme poverty, high unemployment rate and social disparity that affect vulnerable groups in particular;
Amendment 27 #
2022/2006(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the crisis caused by the COVID-19 pandemic led to an increase in social, territorial, economic and gender- based inequalities and unemployment, affecting vulnerable groups in particular;
Amendment 31 #
2022/2006(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas a determined, coordinated and solidarity-based European economic policy approach remains essential to foster EU economic integration and to mitigate the negative economic and social consequences of the crisis, the fragmentation of the internal market and the further deepening of macroeconomic divergence and structural polarisation between regions and countries;
Amendment 36 #
2022/2006(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. RWelcomes the promising early signs of bond issuance by the Commission to finance the first disbursements under the RRF; recalls that the design of NextGenerationEU requires debt repayment through new own resources of the EU budget.
Amendment 37 #
2022/2006(INI)
Motion for a resolution
Recital E
Recital E
E. whereas according to the Commission’s autumn economic forecast, the average rate of unemployment fell to 7.9 % in the euro area and 7.1 % in the EU- 27 in 2021, with further decreases to 7.5 % and 6.7 % expected in 2022; whereas young people have experienced the sharpest increase in unemployment;
Amendment 38 #
2022/2006(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas according to the Commission’s autumn economic forecast, general government deficit narrowed slightly in 2021 to 7.1 % of GDP in the euro area and 6.6 % in the EU-27 on the back of the still high and necessary level of support provided to households and firms; whereas it is forecasted to decrease to 3.9% and 3.6% respectively in 2022, thanks to the unwinding of the emergency support measures and the rebound in revenues;
Amendment 39 #
2022/2006(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas the European recovery is being robust and strong but supply disruptions, labour shortages, pandemic- related closures, rising energy and commodity prices and a scarcity of some key materials risk of holding back growth and adding to cost pressures;
Amendment 41 #
2022/2006(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
Eb. whereas the EU is estimated to lose between €160 and €190 billion each year due to corporate tax avoidance10a; __________________ 10a https://www.europarl.europa.eu/RegData/ etudes/STUD/2016/558776/EPRS_STU(2 016)558776_EN.pdf
Amendment 47 #
2022/2006(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas during the Porto Social Summit held on 7 and 8 May 2021, the EU’s leaders recognised the European Pillar of Social Rights as a fundamental element of the recovery; whereas in the Porto declaration they underlined their determination to continue deepening its implementation at EU and national level;
Amendment 48 #
2022/2006(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas the efforts of a transition to a neutral carbon economy demand significant public and private investment and may bring negative supply shocks, thereby demanding that the Union is equipped with the necessary tools to be able to deal with challenges of the green transition;
Amendment 52 #
2022/2006(INI)
Motion for a resolution
Recital F b (new)
Recital F b (new)
Fb. whereas the EU and its Member States have committed to the Treaty-based fundamental values, the implementation of the UN 2030 Agenda, the European Pillar of Social Rights and the Paris Climate Agreement;
Amendment 55 #
2022/2006(INI)
Motion for a resolution
Recital F c (new)
Recital F c (new)
Fc. whereas the ECB predicted that a lack of action on climate change and an insufficiently orderly climate transition could result in falls of up to 20% in global GDP by the end of the century10b; __________________ 10b https://www.ecb.europa.eu/pub/pdf/other/ ecb.climateriskfinancialstability202107~8 7822fae81.en.pdf
Amendment 69 #
2022/2006(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Is concerned about emerging new variants, localised pandemic lockdowns, increased energy prices, inflationary pressures, supply-side disruptions and emerging labour shortages; notes that these risks create a significant level of uncertainty and could hamper economic growth prospects in the coming months and delay the transition to a more sustainable and future-proof economy;
Amendment 76 #
2022/2006(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Stresses that both public and private sector investment were already clearly insufficient before the crisis, and that the projections reveal the need for additional annual public investment in the three digit billion rang to address the challenges of digital transformation, green and just transition and social recovery; underlines that an increased level of investment must be stabilised and upward convergence in the EU enhanced for many years to come;
Amendment 78 #
2022/2006(INI)
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Points out that restoring the growth potential will be a key element for the structural transformations needed to adapt to current and future challenges and to achieve the EU’s policy objectives;
Amendment 82 #
2022/2006(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Is alerted by the fact that the speed of the recovery varies across Member States and regions, with significant differences and a disparity of between 2.7 % and 14.6 % betweenin GDP growth among the Member States in 2021, according to the Commission’s autumn economic forecast;
Amendment 98 #
2022/2006(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Points out that the successful roll- out of the RRF will help to make EU economies and societies more sustainable, inclusive, resilient and better prepared for the just, green and digital transitions; as well as to foster economic, social and territorial cohesion, bring convergence and help the Member States to mitigate the economic and social impact of the crisis;
Amendment 106 #
2022/2006(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Believes that building a resilient economy calls for reinforcing the social dimension of the European governance, aiming at providing adequate protection to all people without excluding the possibility of setting EU minimum standards, including the European minimum wage, in order to boost upward convergence of living and working conditions;
Amendment 107 #
Amendment 120 #
2022/2006(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that the review of the EU’s economic governance framework is necessary and should be done taking into account the Report on the review of the macroeconomic legislative framework for a better impact on Europe’s real economy and improved transparency of decision- making and democratic accountability; agrees with the European Fiscal Board on the importance of having a clear pathway towards a reviewed fiscal framework, preferably prior to the deactivation of the general escape clause;
Amendment 138 #
2022/2006(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Is convinced that the coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance, taking into account national budgets and the RRFexpected acceleration in spending financed by RRF grants, is projected to remain supportive in 2022 to sustain the recovery and should remain supportive as long as necessary; agrees with the Commission that Member States with low or medium levels of debt should pursue or maintain a supportive fiscal stance, and that Member States with high levels of debt should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscalresponsible fiscal and sustainable policyies; agrees with the Commission that all Member States should preserve or broadly preserve their national financed investment and ensure a socially just recovery;
Amendment 142 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Underlines that public revenues are essential to ensure the sustainability of Member States public finances; considers it therefore necessary to subject the level of taxes and duties in the Member States to greater European coordination to avoid tax competition and to ensure that necessary government spending, whether for consumption or investment, is financed by regular revenues, except if these sources of revenue are insufficient due to a crisis or if additional growth-generating expenditure is to be financed;
Amendment 143 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Recalls that the Commission, in the context of the European Semester and the assessment of the National Recovery and Resilience Plans, found that more reforms are needed in order to address aggressive tax planning in six Member States; encourages the Commission to insist on the implementation of recommendations addressing aggressive tax planning given its negative impact on both the economic recovery and public accounts of other Member States and third countries;
Amendment 144 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Recalls that public funding is key to achieving the 2030 climate objectives and addressing other social and economic challenges; considers that all options to incentivise Member State investments to tackle those challenges should be on the table, notably the revision of the Stability and Growth Pact to promote a future- oriented economy and the extension of lending and borrowing capacities at Union level, building on NGEU;
Amendment 145 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Underlines that sustainable public revenues are essential to guarantee fiscal sustainability; supports governments’ efforts to increase revenues through the closing of loopholes for tax avoidance, addressing harmful tax practices and the increasing of capital-gains, wealth and corporate income taxes;
Amendment 149 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8b. Recalls that the European Semester cycle is a well-established framework for EU Member States to coordinate their budgetary, economic, social and employment policies, and after the COVID-19 crisis, a functioning European Semester will be needed more than ever to coordinate these policies across the European Union; but also notes that the Semester, since the inception, has been expanded to include, among other aspects, issues related to the financial sector and taxation, as well as objectives of the European Pillar of Social Rights and the UN SDGs, giving due consideration to the people of our planet in our economic policy;
Amendment 150 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8b. Recognises the role that the Commission has allotted to the European Semester in the Recovery Plan and its importance for policy coordination at EU level; stresses, however, that the effectiveness and success of the alignment of Member States’ investment and reform programmes will depend on the review of the Semester and, according to the outcome, its adaptation as well as the increased ownership by the Member States of the implementation of the CSRs;
Amendment 151 #
2022/2006(INI)
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8c. Calls on the Commission to improve the European Semester process in order to create a governance framework that enables inclusive and sustainable growth, structural changes for a sustainable economy, integrating the principles of well-being and sustainability, and reflecting actual economic and budgetary realities of Member States;
Amendment 152 #
2022/2006(INI)
Motion for a resolution
Subheading 3
Subheading 3
Growth-enhancing, socially-balanced, inclusive and sustainable structural reforms and investment
Amendment 163 #
2022/2006(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Considers that it is crucial to coordinate national reform and investment efforts and the exchange of best practices in order to increase the convergence and resilience of our economies, promote sustainable and inclusive growth, and improve institutional frameworks; in order to further strengthen economic and social resilience the EU must deliver on the principles of the European Pillar of Social Rights, the Sustainable Development Goals and the European Green Deal;
Amendment 172 #
2022/2006(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Calls for a committed coordination with social partners and other relevant stakeholders at both national and European level, with a view to strengthening democratic accountability and transparency, and scrutinizing the role of civil society;
Amendment 182 #
2022/2006(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Highlights that the RRF presents an unprecedented and unique opportunity for all Member States to address key structural challenges and investment needs andwhile embracing the just, green and digital transitions; insists that all recovery and resilience plans address all requirements of the RRF Regulation, in particular the six pillars, namely: green transition; digital transformation; smart, sustainable and inclusive growth; social and territorial cohesion; health, economic, social and institutional resilience; and policies for the next generation, children and the youth; highlights the interplay between the European Semester and the RRF; calls on the Member States to make the most of this opportunity and to use it to transform their economies and make them sustainable, more competitive and more resilient to future shocks; highlights the role of the European Parliament in the implementation of the RRF, as enshrined in the RRF Regulation;
Amendment 183 #
2022/2006(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Highlights that the RRF presents an unprecedented and unique opportunity for all Member States to address key structural challenges and investment needs and insists that all recovery and resilience plans address all requirements of the RRF Regulation, in particular the six pillars; Underlines, therefore, that future CSRs should address the existing challenges in light of the crisis, support the just, green and digital transitions and be coherent with the general and specific objectives of the RRF regulation, and should not contradict them; highlights the interplay between the European Semester and the RRF; calls on the Member States to make the most of this opportunity and to use it to transform their economies and make them sustainable, more competitive and more resilient to future shocks; highlights the role of the European Parliament in the implementation of the RRF, as enshrined in the RRF Regulation;
Amendment 189 #
2022/2006(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Invites the Commission and the Member States to draw conclusions from the RRF exercise and improve the mechanisms driving the economic governance framework especially when it comes to establishing a more transparent and democratic coordination process, defining underlying political guidelines, cooperation between the institutions and increased ownership of the Member States, developing the national reform programmes and implementing socially- balanced structural reforms;
Amendment 191 #
2022/2006(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Is concerned about possible administrative burdens resulting from the interplay between the RRF and the European Semester and asks the Commission to closely monitor the mechanisms and take measures if necessary; invites the Commission, moreover, to reassess if annually published CSRs fulfil the purpose to properly evaluate the need for and monitor structural reforms that are mostly implemented over a longer period of time;
Amendment 194 #
2022/2006(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Calls on the Member States to build up the necessary administrative and monitoring capacity to provide the involvement of the general democratic public, firm guarantees of the proper use of funds and the respect for the principles of rule of law; calls on the European Commission to insist on the implementation of these measures;
Amendment 198 #
2022/2006(INI)
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Believes that the renewed and simplified EU Semester could profit from the lessons learned from the RRF process in regards to establish a more transparent and democratic coordination process when it comes to defining the policy objectives of the European Semester and the CSRs with full involvement of the European Parliament and the Member States as well as in regards to the reciprocal process between Commission and the Member States in developing the needed reforms and investment to achieve those policy objectives; therefore, calls on the Commission to closely assess the RRF exercise and draw conclusions for the review and adaptation of the European Semester cycle and the CSRs;
Amendment 201 #
2022/2006(INI)
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Is concerned that, without a coordinated effort to invest in the transition to a sustainable economy, European economies will suffer long- lasting damage, undermining any efforts to promote sustainable fiscal policies;
Amendment 205 #
2022/2006(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Highlights that the COVID-19 pandemic has had a significant negative impact on women both in paid and unpaid work with far reaching consequences; emphasises the importance of increasing women’s participation in the economy, including inclusive participation in the digital economy and transformation, and ensuring more inclusive growth, ensuring equal pay for equal work and reducing the poverty gap as part of the solution to the post-pandemic recovery, which will help to increase jobs, economic prosperity and competitiveness across the EU; calls therefore on the Commission and the Council to ensure that gender equality and equal opportunities for all, and the mainstreaming of those objectives, are addressed effectively in the country- specific recommendations and promoted in the implementation of investment and reforms;
Amendment 212 #
2022/2006(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Stresses that the recovery efforts must go hand in hand with a lasting increase of public and private investment beyond the RRF in order to be able to address current and future challenges and to achieve the EU policy objectives;
Amendment 213 #
2022/2006(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Underlines that the recovery must be based on upward social and economic convergence, social dialogue and improved social rights and working conditions for workers, employees and the self-employed;
Amendment 247 #
2022/2006(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Invites the Commission to revamp the comprehensive economic policy response to the COVID-19 pandemic and to take the principles of NGEU as a basis for a modernisation of the common European fiscal architecture;
Amendment 248 #
2022/2006(INI)
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14b. Reiterates the European Parliament’s call for strengthening its democratic role in the economic governance framework;
Amendment 249 #
2022/2006(INI)
Motion for a resolution
Paragraph 14 c (new)
Paragraph 14 c (new)
14c. Calls for committed coordination with social partners and other relevant stakeholders at both national and European level, with a view to strengthening democratic accountability, transparency and enhancing social dialogue;
Amendment 117 #
2022/0411(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) In certain cases, the prospectus or its related documents may reach massive sizes, harming the readability of the document and becoming unfit for investors to take an informed investment decision. To improve the readability of the prospectus and make it easier for investors to analyse it and navigate through it, it is necessary to set out a maximum page limit. However, such page limit should only be introduced for offers to the public or admissions to trading on a regulated market of shares. A page limit would not be appropriate for equity securities other than shares or non- equity securities, which include a broad range of different instruments, including complex ones. Furthermore, the summary, information incorporated by reference or information to be provided when the issuer has a complex financial history or has made a significant financial commitment should be excluded from the page limit.
Amendment 124 #
2022/0411(COD)
Proposal for a regulation
Recital 34
Recital 34
(34) Risk factors that are material and specific to the issuer and his or her securities should be mentioned in the prospectus. For that reason, risk factors are also to be presented in a limited number of risk categories depending on their nature. However, issuers should no longer be required to rank the most material risk factors, which is complicated and burdensome for issuers. To improve the comprehensibility of the prospectus and make it easier for investors to take informed investment decisions, it is necessary to specify that issuers should not overload the prospectus with risk factors that are generic, that only serve as disclaimers, or that could obscure the specific risk factors that investors should be aware of.
Amendment 137 #
2022/0411(COD)
Proposal for a regulation
Recital 62
Recital 62
Amendment 143 #
2022/0411(COD)
Proposal for a regulation
Recital 65
Recital 65
(65) In order to avoid an undue requirement for persons discharging managerial responsibilities to report and for companies to disclose transactions which would not be meaningful to investors, it is appropriate to raise the threshold for reporting and related disclosure from EUR 5 000 to EUR 210 000, while allowing competent authorities to increase that threshold further, where justified.
Amendment 152 #
2022/0411(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point b – point i
Article 1 – paragraph 1 – point 1 – point b – point i
Regulation (EU) 2017/1129
Article 1 – paragraph 4 – point da
Article 1 – paragraph 4 – point da
(da) an offer of securities to be admitted to trading on a regulated market or an SME growth market and that are fungible with securities already admitted to trading on the same market, provided that they represent, over a period of 12 months, less than 4025 % of the number of securities already admitted to trading on the same market;
Amendment 157 #
2022/0411(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Regulation (EU) 2017/1129
Article 1 – paragraph 5 – subparagraph 1 – point a
Article 1 – paragraph 5 – subparagraph 1 – point a
(a) securities fungible with securities already admitted to trading on the same regulated market, provided that they represent, over a period of 12 months, less than 4025 % of the number of securities already admitted to trading on the same regulated market;
Amendment 160 #
2022/0411(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Article 1 – paragraph 1 – point 1 – point c – point i – point 1
Regulation (EU) 2017/1129
Article 1 – paragraph 5 – subparagraph 1– point (b)
Article 1 – paragraph 5 – subparagraph 1– point (b)
(b) shares resulting from the conversion or exchange of other securities or from the exercise of the rights conferred by other securities, where the resulting shares are of the same class as the shares already admitted to trading on the same regulated market, provided that the resulting shares represent, over a period of 12 months, less than 4025 % of the number of shares of the same class already admitted to trading on the same regulated market, subject to the third subparagraph;;
Amendment 164 #
2022/0411(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point c – point ii
Article 1 – paragraph 1 – point 1 – point c – point ii
Regulation (EU) 2017/1129
Article 1 – paragraph 5 – second subparagraph
Article 1 – paragraph 5 – second subparagraph
The requirement that the resulting shares represent, over a period of 12 months, less than 4025 % of the number of shares of the same class already admitted to trading on the same regulated market as referred to in the first subparagraph, point (b), shall not apply in any of the following cases:;
Amendment 166 #
2022/0411(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point d
Article 1 – paragraph 1 – point 1 – point d
Regulation (EU) 2017/1129
Article 1 – paragraph 6
Article 1 – paragraph 6
6. The exemptions from the obligation to publish a prospectus that are set out in paragraphs 4 and 5 may be combined together. However, the exemptions in paragraph 5, first subparagraph, points (a) and (b), shall not be combined together where such combination could lead to the immediate or deferred admission to trading on a regulated market over a period of 12 months of more than 4025 % of the number of shares of the same class already admitted to trading on the same regulated market, without a prospectus being published.;
Amendment 181 #
2022/0411(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point c
Article 1 – paragraph 1 – point 6 – point c
Regulation (EU) 2017/1129
Article 6 – paragraph 4
Article 6 – paragraph 4
4. A prospectus that relates to shares or other transferrable securities equivalent to shares in companies shall be of maximum length of 30250 sides of A4-sized paper when printed and shall be presented and laid out in a way that is easy to read, using characters of readable size.
Amendment 262 #
2022/0411(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point a
Article 2 – paragraph 1 – point 6 – point a
Regulation (EU) No 596/2014
Article 18 – paragraph 1
Article 18 – paragraph 1
Amendment 268 #
2022/0411(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point b
Article 2 – paragraph 1 – point 6 – point b
Regulation (EU) No 596/2014
Article 18 – paragraphs 1a and 1b
Article 18 – paragraphs 1a and 1b
Amendment 277 #
2022/0411(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 6 – point d
Article 2 – paragraph 1 – point 6 – point d
Regulation (EU) No 596/2014
Article 18 – paragraph 6
Article 18 – paragraph 6
Amendment 286 #
2022/0411(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 7 – point a
Article 2 – paragraph 1 – point 7 – point a
Regulation (EU) No 596/2014
Article 19 – paragraph 8
Article 19 – paragraph 8
8. Paragraph 1 shall apply to any subsequent transaction once a total amount of EUR 210 000 has been reached within a calendar year. The threshold of EUR 210 000 shall be calculated by adding without netting all transactions referred to in paragraph 1.
Amendment 291 #
2022/0411(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 7 – point a
Article 2 – paragraph 1 – point 7 – point a
9. A competent authority may decide to increase the threshold set out in paragraph 8 to EUR 520 000 and shall inform ESMA of its decision and the justification for its decision, with specific reference to market conditions, to adopt the higher threshold prior to its application. ESMA shall publish on its website the list of thresholds that apply in accordance with this Article and the justifications provided by competent authorities for such thresholds.;
Amendment 40 #
2022/0406(COD)
Proposal for a directive
Recital 1
Recital 1
(1) To reinforce the attractiveness of SME growth markets and to reduce inequalities for companies seeking admission to trading in the single market, it is necessary to address obstacles to the access to such markets that stem from regulatory barriers. Companies should be able, subject to strong appropriate safeguards, to choose governance structures that suit best their development stage, including by enabling controlling shareholders of those companies to retain control of the business after accessing SME growth markets, while enjoying the benefits associated to trading on those markets, as long as the rights of minority shareholders continue to be safeguarded.
Amendment 42 #
2022/0406(COD)
Proposal for a directive
Recital 2
Recital 2
(2) Fear of losing control over a company constitutes one of the maina deterrents for controlling shareholders to access SME growth markets. Admission to trading usually entails dilution of ownership for controlling shareholders, thus reducing their influence over important investment and operating decisions in the company. Maintaining control of the company may in particular be important for start-ups and companies with long-term projects that require significant upfront costs, because they may wish to pursue their vision without becoming too exposed to market fluctuations.
Amendment 47 #
2022/0406(COD)
Proposal for a directive
Recital 3
Recital 3
(3) Multiple-vote share structures are an effective mechanism to enable controlling shareholders to retain decision- making power in a company, while raising funds from the public. Multiple-vote share structures are a form of a control enhancement mechanism involving at least two distinct classes of shares with a different number of voting rights. Under such structures, at least one of the classes of shares has a lower voting value than another class (or classes) of shares with voting rights. The share carrying the superior amount of votes is a multiple-vote share.
Amendment 63 #
2022/0406(COD)
Proposal for a directive
Recital 10
Recital 10
(10) Due to a diminished voting power of non-controlling shareholders in the company relative to their investments, multiple-vote share structures may provide controlling shareholders of that company with perpetual control and thereby lead to controlling shareholder entrenchment. That may increase the risk that controlling shareholders extract private benefits from control. To address those risks, the adoption of multiple-vote share structures should be subject to harmonised safeguards to protect minority shareholders.
Amendment 66 #
2022/0406(COD)
Proposal for a directive
Recital 11
Recital 11
(11) Member States that allow multiple- vote shares provide for safeguards to protect minority shareholders and the interests of the company. However, the existing safeguards vary between Member States due to national specificities and diverging company law systems. Having regard to the objectives of the internal market as set out in particular in Article 50(2), point (g) of the Treaty on the functioning of the European Union, Member States should ensure a coordinated approach in their national laws on multiple-vote share structures with respect to the protection of the interests of minority shareholders and of the company. This includes protection against decisions creating risks for or resulting in adverse human rights, climate change, and environmental consequences. Under that coordinated approach, aAll Member States should ensure that any decision to adopt a multiple-vote share structure, or to modify that structure where there is an impact on voting rights, is taken by a qualified majority at the general shareholders’ meeting. Furthermore, Member States should limit the voting weight of multiple- vote shares by introducing restrictions either on the design of the multiple-vote share structure orand on the exercise of voting rights attached to multiple-vote shares for the adoption of certain decisions. The restriction on the exercise of voting rights may be implemented by requiring that an approval by qualified majority necessitates both a qualified majority of the votes cast at the general meeting of shareholders and of the share capital represented at the general meeting of shareholders.
Amendment 70 #
2022/0406(COD)
Proposal for a directive
Recital 12
Recital 12
(12) Member States should be given discretionalso be required to introduce additional safeguards, where needed, to ensure adequate protection of minority shareholders’ interests and the interest of the company. Member States should assess the appropriateness of additional safeguards in light of their effectiveness in protecting the interests of minority shareholders and of the company, while, including a transfer-based sunset clause, a time-based sunset clause of five years, an event-based sunset clause, and a safeguard to ensuringe that such safeguards do not defeat the purpose of multiple-vote share structures, i.e. the possibility for a company’s controlling shareholders to influence important decisions, including the appointment of directorthe enhanced voting rights cannot be used to block the adoption of decisions by the general shareholders’ meeting concerning human rights and environmental issues related to the company’s operations.
Amendment 73 #
2022/0406(COD)
Proposal for a directive
Recital 13
Recital 13
(13) The disclosure of accurate, comprehensive and timely information about issuers strengthens investor confidence and allows for informed investment decision-making. Such informed investment decision-making enhances both investor protection and market efficiency. Member States should therefore require companies with multiple- vote share structures to publish detailed information on their share structure and corporate governance system at the moment of the admission to trading, as well as periodically in the annual financial report. Such information should mention whether there are any limitations on the holding of securities, including whether any transfer of securities requires the approval either of the company, or of other holders of securities. It should also mention whether there are any restrictions on voting rights, including limitations of the voting rights of holders of a given percentage or number of votes, deadlines for exercising voting rights, or systems whereby the financial rights attached to securities are separated from the holding of securities. Furthermore, those companies should disclose the identity of holders of multiple- vote shares as well as of the natural persons entitled to exercise voting rights on their behalf and of persons exercising special control rights to provide investors, as members of general public, with transparency on ultimate ownership and de facto influence on the company. This would allow investors to make informed decisions and thereby strengthen their confidence in well-functioning capital markets. Such information will need to be updated periodically and after significant changes in the ownership or control of the shares holding multiple voting rights.
Amendment 112 #
2022/0406(COD)
Proposal for a directive
Article 5 – paragraph 1 – point b – introductory part
Article 5 – paragraph 1 – point b – introductory part
(b) limit the voting weight of multiple- vote shares on the exercise of other shareholders’ rights, in particular during general meetings, by introducing either of the following safeguards:
Amendment 113 #
2022/0406(COD)
Proposal for a directive
Article 5 – paragraph 1 – point b – point i
Article 5 – paragraph 1 – point b – point i
(i) a maximum weighted voting ratio and a requirement on the maximum percentage of the outstanding share capital that the total amount of multiple- vote shares can representdifferential of one to five;
Amendment 121 #
2022/0406(COD)
Proposal for a directive
Article 5 – paragraph 1 – point b – point i a (new)
Article 5 – paragraph 1 – point b – point i a (new)
(i a) a requirement on the maximum percentage of the outstanding share capital that the total amount of multiple- vote shares can represent;
Amendment 140 #
2022/0406(COD)
Proposal for a directive
Article 5 – paragraph 2 – introductory part
Article 5 – paragraph 2 – introductory part
2. Member States mayshall also be required to provide for further safeguards to ensure adequate protection of shareholders and of the interests of the company. Those safeguards mayshall include in particular:
Amendment 147 #
2022/0406(COD)
Proposal for a directive
Article 5 – paragraph 2 – point a
Article 5 – paragraph 2 – point a
(a) a provision to avoid that the enhanced voting rights attached to multiple-vote shares are transferred to third parties or continue to exist upon the death, incapacitation or retirement of the original holder of multiple-vote shares (transfer- based sunset clause);
Amendment 154 #
2022/0406(COD)
Proposal for a directive
Article 5 – paragraph 2 – point b
Article 5 – paragraph 2 – point b
(b) a provision to avoid that the enhanced voting rights attached to multiple-vote shares continue to exist after a designated period of time (time-based sunset clause)five year period;
Amendment 161 #
2022/0406(COD)
Proposal for a directive
Article 5 – paragraph 2 – point c
Article 5 – paragraph 2 – point c
(c) a provision to avoid that the enhanced voting rights attached to multiple-vote shares continue to exist upon the occurrence of a specified event (event- based sunset clause);
Amendment 11 #
2022/0405(COD)
Proposal for a directive
Recital 2
Recital 2
Amendment 12 #
2022/0405(COD)
Proposal for a directive
Recital 3
Recital 3
Amendment 14 #
2022/0405(COD)
Proposal for a directive
Recital 4
Recital 4
Amendment 37 #
2022/0405(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Directive 2014/65/EC
Article 24 – paragraph 9 a – point c
Article 24 – paragraph 9 a – point c
Amendment 45 #
2022/0405(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Directive 2014/65/EC
Article 24 – paragraph 9 a – subparagraph 2 (new)
Article 24 – paragraph 9 a – subparagraph 2 (new)
Amendment 49 #
2022/0405(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 – point b a (new)
Article 1 – paragraph 1 – point 2 – point b a (new)
Directive 2014/65/EC
Article 24 – paragraph 9 b (new)
Article 24 – paragraph 9 b (new)
Amendment 180 #
2022/0269(COD)
Proposal for a regulation
Recital 24
Recital 24
(24) During the preliminary phase of investigation, competent authorities should focus on the economic operators involved in the steps of the value chain where there is a higher risk of forced labour with respect to the products under investigation, while also taking into account their potential imbalance of power in the concerned supply chain. In their assessment they should also take into account the size and economic resources of the economic operator, the quantity of products concerned and the scale of the suspected forced labour.
Amendment 283 #
2022/0269(COD)
Proposal for a regulation
Recital 45
Recital 45
(45) Since forced labour is a global problem and given the interlinkages of the global value chains, it is necessary to promote international cooperation against forced labour, which would also improve the efficiency of applying and enforcing the prohibition. The Commission should as appropriately cooperate with and exchange information with authorities of third countries and international organisations to enhance the effective implementation of the prohibition. International cooperation with authorities of non-EU countries should take place in a structured way as part of the existing dialogue structures, for example Human Rights Dialogues with third countries, or, if necessary, specific ones that will be created on an ad hoc basis. Existing dialogue structures with third countries include the (sub)committees on trade and sustainable development in trade agreements or the dialogue foreseen within the Generalised System of Preferences. EU Delegations should have an important role when it comes to disseminating information on this Regulation and should facilitate the possibility of third parties in third countries to provide information on the existence of forced labour on a determined product.
Amendment 358 #
2022/0269(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point u a (new)
Article 2 – paragraph 1 – point u a (new)
(ua) 'meaningful engagement with stakeholders' means an interactive, responsive, ongoing and gender-inclusive process of engagement with potentially affected suppliers, stakeholders and their representative organisations, especially vulnerable stakeholders, such as workers, trade unions, smallholders, indigenous peoples and local communities before a potential decision on disengaging is made;
Amendment 381 #
2022/0269(COD)
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. In their assessment of the likelihood that economic operators violated Article 3, competent authorities shall in a first instance focus on the economic operators involved in the steps of the value chain as close as possible to where the risk of forced labour is likely to occur and, while also taking into account the potential imbalance of power in the concerned supply chain. In their assessment they shall also take into account the size and economic resources of the economic operators, the quantity of products concerned, as well as the scale of suspected forced labour.
Amendment 396 #
2022/0269(COD)
Proposal for a regulation
Article 4 – paragraph 3 – subparagraph 1 (new)
Article 4 – paragraph 3 – subparagraph 1 (new)
The competent authority shall ensure that when economic operators refer to actions taken, as referred to above, those economic operators also identify and assess the impacts of their business models and strategies, including trading, procurement and pricing practices.
Amendment 419 #
2022/0269(COD)
Proposal for a regulation
Article 4 – paragraph 6
Article 4 – paragraph 6
6. The competent authority shall duly take into account where the economic operator demonstrates that it carries out due diligence on the basis of identified forced labour impact in its supply chain, adopts and carries out measures suitable and effective for bringing to an end forced labour in a short period of time. The competent authority shall assess whether the economic operator demonstrates that it did not use disengagement as first resort for the products under assessment or products that are equivalent thereof.
Amendment 498 #
2022/0269(COD)
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. Where competent authorities cannot establish that Article 3 has been violated, they shall take a decision to close the investigation and inform the economic operator thereof. The closing of the investigation for lack of proof shall not preclude the right of competent authorities to start a new investigation into the same product in case new relevant information arises.
Amendment 550 #
2022/0269(COD)
Proposal for a regulation
Article 6 – paragraph 6 – subparagraph 1 (new)
Article 6 – paragraph 6 – subparagraph 1 (new)
Economic operators shall avoid simply disengaging from their operators in order to eliminate forced labour from their supply chains. In case efforts to prevent, minimise and remedy the situation fail, then the economic operator shall consider disengaging in a responsible way. Before potentially reaching a decision to disengage, economic operators shall engage meaningfully with stakeholders that would be impacted by such a decision. Responsible disengagement entails, as a minimum, complying with collective agreements and articulating escalation measures. Economic operators shall act in accordance with the July 2021 Commission and EEAS guidance on combatting forced labour in supply chains.
Amendment 764 #
2022/0269(COD)
Proposal for a regulation
Article 24 – paragraph 2
Article 24 – paragraph 2
2. The Network shall be composed of representatives from each Member States’ competent authority, representatives from the Commission and, where appropriate, experts from the customs authorities. EU delegations, particularly based in countries with regions identified as of high risk of forced labour, shall also be involved in the work of this Network.
Amendment 780 #
2022/0269(COD)
Proposal for a regulation
Article 24 – paragraph 3 – point f a (new)
Article 24 – paragraph 3 – point f a (new)
(fa) coordinate dissemination efforts in and outside the EU;
Amendment 797 #
2022/0269(COD)
Proposal for a regulation
Article 26 – paragraph 1
Article 26 – paragraph 1
1. In order to facilitate effective implementation and enforcement of this Regulation, the Commission may as appropriate cooperate, engage and exchange information with, amongst others, authorities of third countries, international organisations, civil society representatives and business organisations. International cooperation with authorities of third countries shall take place in a structured way as part of the existing dialogue structures with third countries or, if necessary, specific ones that will be created on an ad hoc basis. Existing dialogue structures with third countries include the (sub)committees on trade and sustainable development in trade agreements or the dialogue foreseen within the Generalised System of Preferences.
Amendment 810 #
2022/0269(COD)
Proposal for a regulation
Article 26 a (new)
Article 26 a (new)
Article26a Development cooperation The Commission and Member States shall develop cooperation and partnership mechanisms with third countries to address the root causes of forced labour as well as to build the capacity of upstream economic actors to respond to the requirements under this Regulation.
Amendment 16 #
2022/0219(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) As a result, strong price inflation can be anticipated, as well as longer delays in delivery time, potentially harming the security of the Union and its Member States. Defence industries need to secure the production capacity necessary to process orders, as well as critical raw materials and sub-components. In this context producers might privilege major orders, potentially leaving exposed the most vulnerable countriEU Member States, lacking the critical size and financial means to ensure large orders. in the short term.
Amendment 17 #
2022/0219(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) Furthermore, efforts should be made so that the increased spending results in a much stronger, coordinated and interoperable European Defence Technological and Industrial Base. Indeed, without coordination and cooperation, the increased national investments are likely to deepen the fragmentation of the European defence industry exposing the EU further to external dependencies.
Amendment 19 #
2022/0219(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) Common investment and defence procurement should in particular be incentivised, as such collaborative actions would ensure that the necessary changes in the EU industrial base takes place in a collaborative manner, avoiding further fragmentation of the industry, therefore benefiting the security of EU citizens as well as the EDTIB.
Amendment 26 #
2022/0219(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) In accordance with Article 193(2) of the Financial Regulation, a grant may be awarded for an action which has already begun, provided that the applicant can demonstrate the need for starting the action prior to signature of the grant agreement. However, financial contribution should not cover a period prior to the date of submission of the grant application, except in duly justified exceptional cases. In order to avoid any disruption in Union support which could be prejudicial to the interests of the Union, it should be possible to provide in the financing decision for financial contributions to actions that cover a period from the 24 February 2022, even if they have started before the grant application was submitted and as long as it can be demonstrated that the prospect of EU funding incentivised cooperation between the Member States concerned. Such retroactive elegibility is justified by Russia's war of aggression against Ukraine and should not be extended to other programmes.
Amendment 29 #
2022/0219(COD)
Proposal for a regulation
Recital 25 a (new)
Recital 25 a (new)
(25 a) In the current context of Russia's illegal aggression of Ukraine, any consideration to further reinforce budgetary appropriations of this Instrument and extend its duration, based on documented reporting of its implementation rate, should be envisaged in the context of the 2021-2027 Multiannual Financial Framework revision.
Amendment 6 #
2022/0179(NLE)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Notes that Croatia fulfils theall the accession criteria as a result of ambitious, determined, credible and sustainable efforts by the Croatian Government and the Croatian people;
Amendment 7 #
2022/0179(NLE)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Welcomes the accession of Croatia to the euro area as it represents a strong political signal for Europe. It´s the first EU integration process since Brexit. It reinforces the image and attractiveness of the single currency in the EU and at the global stage, as well as it enhances the European resilience and unity. As the first Western Balkan euro area member, Croatia´s successful accession and deeper integration in the EU is likely to increase the EU´s image, credibility and attractiveness in the region and the EU as a whole.
Amendment 8 #
2022/0179(NLE)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Highlights, that adopting the euro will strengthen Croatia’s economy and benefit its people and companies, as it will make the country´s economy more resilient, attract more foreign investment, increase the confidence of international investors and cut down currency exchanges, that will have a relevant effect in the country´s vital tourism sector;
Amendment 9 #
2022/0179(NLE)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that the positive assessments of the Commission and the ECB have taken place against the background of a, longer than initially expected, COVID-19 shock and the subsequent economic recovery in 2021; notes, however, that Russia's unprovoked and illegal invasion of Ukraine which began on 24 February 2022 had a limited impact on the historical data used to prepare the convergence reports; is convinced, therefore, of the full readiness of Croatia to adopt the euro as from 1 January 2023;
Amendment 10 #
2022/0179(NLE)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Considers that despite fulfilling all the convergence criteria, the recent deterioration of several key indicators, due to the current circumstances, used in the convergence reports, demands a reflection on how the full implementation of the current framework and criteria for accession during extraordinary crisis, like COVID-19 pandemic or the Russian invasion of Ukraine, or future crisis with large asymmetric shocks still applies;
Amendment 12 #
2022/0179(NLE)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Underlines that, notwithstanding the difficult socio-economic situation generated by the health crisis and the most recent increase in energy prices, Croatia’s introduction of the euro and the fulfilment of the necessary criteria represent a strong political signal of the viability and attractiveness of the single currency of the Union; welcomes therefore the sustained efforts undertaken by the Croatian Government in this regard;
Amendment 16 #
2022/0179(NLE)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes Croatian government’s work on strengthening Croatia’s institutional capacity, efforts to improve the business environment, and the effective and efficient implementation of structural reforms that contribute to economic growthsustainable and inclusive economic growth. Calls on Croatian authorities to continue strengthening the institutional framework to ensure regulatory quality, support the social welfare sector and prevent corruption;
Amendment 19 #
2022/0179(NLE)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Highlights that the convergence in banking supervision contributes to safeguarding financial stability by ensuring the application of uniform supervisory standards; highlights furthermore, that joining the Single Supervisory Mechanism (SSM) of the Banking Union via close cooperation with the ECB proved to be a successful framework for the accession process and a blueprint for the future; reflects, in this regard, that lessons for future crises could be drawn as Croatia´s accession process was marked by two major disruptive events such as the Covid-19 pandemic and the Russian invasion of Ukraine;
Amendment 20 #
2022/0179(NLE)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Calls for the swift and effective implementation of reforms and investments of Croatia´s Recovery and Resilience Plan to boost sustainable and inclusive growth, to contribute to economic and social cohesion, and to tackle key socio-economic and institutional challenges;
Amendment 153 #
2022/0162(COD)
Proposal for a regulation
Article 17 – paragraph 2
Article 17 – paragraph 2
Amendment 239 #
2022/0162(COD)
Proposal for a regulation
Article 139 – paragraph 1 – point g
Article 139 – paragraph 1 – point g
(g) it has been established by a final judgment or final administrative decision that the person or entity has created an entity in a different jurisdiction with the intent to circumvent fiscal, social or any other legal obligations including those related to working rights, employment and labour conditions, in the jurisdiction of its registered office, central administration or principal place of business;
Amendment 5 #
2022/0126(BUD)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Is deeply concerned that the MFF is already pushed to its limits and is not fit to continue addressing the multiple internal and external crises in a sustainable manner; points, in particular, to the need to increase the ceiling of Heading 4 in order to reflect the actual financial needs for the Union’s migration and border management; therefore, calls on the Commission to conduct an in-depth review of the functioning of the current MFF and proceed with a legislative proposal for a comprehensive MFF revision as soon as possible and not later than the first quarter of 2023; expects such a revision to take into account the long-term implications of the war in Ukraine and the emergency measures taken;
Amendment 35 #
2022/0066(COD)
Proposal for a directive
Recital 47
Recital 47
(47) Specialist support should offer victims support tailored to their specific needs, and irrespective of any official complaint. Such services could be provided in addition to, or as an integrated part of, general victim support services, which may call on existing entities providing specialist support. Specialist support may be provided by national authorities, victims’ support organisations, or other non- governmental organisations. They should be granted sufficient human and financial resources and, where the services are provided by non-governmental organisations, Member States should ensure that they receive appropriate funand the Union, for instance through the Rights and Values programme and its DAPHNE strand, should ensure that they receive appropriate funds. Member States should ensure that all victims belonging to vulnerable groups or communities receive tailor-made support based on their needs, with special attention to linguistic needs and potential past or present discrimination experiences of certain communities. Support should be provided as offline and online services according to specific needs.
Amendment 37 #
2022/0066(COD)
Proposal for a directive
Recital 47 a (new)
Recital 47 a (new)
(47 a) The Union budget should provide complementary funding to ensure a high level of protection for victims of violence, including through sufficient resources in dedicated funding programs, as for instance through the Rights and Values programme and its DAPHNE strand, and through the promotion of innovative solutions to improve the quality and accessibility of the needed services; the relevant program(s) under the next Multiannual Financial Framework should contain sufficient financial and human resources to ensure sufficient funding for a significant Union contribution to the proper implementation, in particular of preventive and victim support measures; in the context of the Cohesion policy programmes, national programming should pay particular attention to projects contributing to the objectives of the Directive by complementing Member States investments for that purpose.
Amendment 43 #
2022/0066(COD)
Proposal for a directive
Recital 63
Recital 63
(63) In order to ensure that victims of the offences of cyber violence contained in this Directive can effectively realise their rights to have illegal material relating to such offences removed, Member States should encourage the cooperation between providers of intermediary services as well as between providers of intermediary services, authorities and civil society organisations, such as through the establishment of trusted flaggers pursuant to Article 22 of the Regulation (EU) 2022/2065 of the European Parliament and of the Council. To ensure that such material is detected early on and tackled effectively and that victims of those offences are adequately assisted and supported, Member States should also facilitate the establishment or use of existing self-regulatory measures of a voluntary nature, such as codes of conduct, including on the detection of systematic risks in relation to such cyber violence and the training of the providers’ employees, including psychological support, concerned by preventing such violence and assisting victims. Any support provided by the European Commission to the Member States in these regards should come along with a reinforcement of its human resources.
Amendment 44 #
2022/0066(COD)
Proposal for a directive
Recital 64
Recital 64
(64) Policies to adequately tackle violence against women and domestic violence can only be formulated on the basis of comprehensive and comparable disaggregated data. In order to effectively monitor developments in the Member States and fill the gaps of comparable data, Member States should regularly conduct surveys using the harmonised methodology of the Commission (Eurostat) to gather data and transmit these data to the Commission (Eurostat) and the European Institute of Gender Equality. For the purpose of the analysis of the aggregated data, both Eurostat and EIGE should be reinforced adequately.
Amendment 45 #
2022/0066(COD)
Proposal for a directive
Recital 64 a (new)
Recital 64 a (new)
(64 a) The relevant agencies, in particular the European Institute for Gender Equality, should be provided with the necessary human and financial resources to fulfil the objectives, tasks and responsibilities assigned to it under this directive financed by a contribution from the general budget of the Union, with the necessary appropriations drawn exclusively from unallocated margins under the relevant heading of the Multiannual Financial Framework and/or through the mobilisation of the relevant special instruments and not depriving the Right and Values programme of any appropriations agreed for policy purpose under the actual Multiannual Financial Framework.
Amendment 52 #
2022/0066(COD)
Proposal for a directive
Article 27 – paragraph 2
Article 27 – paragraph 2
2. Specialist support referred to in paragraph 1 shall be offered in-person and shall be easily accessible, including to all victims including victims belonging to linguistic minorities and communities, and include online or through other adequate means, such as information and communication technologies, tailored to the needs of victims of violence against women and domestic violence. The support shall be provided also in languages of linguistic minorities, regions and communities within the different Member States.
Amendment 40 #
2021/2251(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Underlines that a determined, coordinated and solidarity-based European economic policy approach has been proven to be essential to foster EU economic integration, to limit the spreading of the crises and to mitigate its negative economic and social consequences;
Amendment 43 #
2021/2251(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Highlights that the RRF played an instrumental role in preventing the fragmentation of the internal market and the further deepening of macroeconomic divergence, and in fostering social and territorial cohesion;
Amendment 44 #
2021/2251(INI)
Motion for a resolution
Paragraph 1 c (new)
Paragraph 1 c (new)
1 c. Stresses that the conflict in Ukraine and the severe sanctions against the Russian Federation will unavoidably result in extremely negative and asymmetric effects on the EU economy and Member States; is concerned about the entailing social consequences and even further increasing social inequality; expects that EU will react with the same determination, unity and speediness and in solidarity in this new severe crisis;
Amendment 65 #
2021/2251(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
Amendment 75 #
2021/2251(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Points out that the successful rollout of the RRF will help to make EU economies and societies more sustainable, inclusive, resilient and better prepared for the just, green and digital transition; is convinced that enhancing the sustainable transition and putting the well-being of people first is a prerequisite for a resilient, more egalitarian and future-proof economy; is convinced that a successful implementation of the NRRPs will contribute to reduce cross-country divergences fostering convergence;
Amendment 102 #
2021/2251(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Emphasizes the aim of the Regulation to comply with social objectives and the importance to have methodologies in place for displaying the progress on the implementation to contribute to the European Pillar of Social Rights; therefore, is concerned that the delegated act on social expenditure and on the resilience scoreboard will not be sufficient to track and to report on the social dimension and impacts of the RRF; calls on the Commission to come forward with complementary social indicators tracking notably the implementation of the 20 principles of the EPSR through the NRRPs;
Amendment 135 #
2021/2251(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Tasks the Commission with analysing the reasons why the Member States have not requested loans to the full extent of their allocation, which could prevent the RRF from reaching its full potential, and, where relevant, to come forward with a proposal of targeted amendment of the RRF Regulation to incentive the optimal use of the resources available under the RRF;
Amendment 142 #
2021/2251(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Calls for the spending financed by RRF loans to benefit from the same treatment in the EU fiscal framework as is the case for the European Fund for Strategic Investments (EFSI) in the context of the Commission Communication on flexibility, so as to ensure an optimal effect for the EU recovery;
Amendment 150 #
2021/2251(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Looks forward to more granular and disaggregated data allowing for a better understanding of the additionality impacts of the RRF; urges the Member States to provide detailed information to the Commission in order to ensure effective reporting of the impact of the RRF; calls on Eurostat to provide the necessary guidance and framework to ensure a proper monitoring of the NRRPs;
Amendment 162 #
2021/2251(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recalls that the RRF Regulation provides for the possibility to include in the NRRPs measures started from 1 February 2020 onwards and that some Member States have made use of this possibility; welcomes that some Member States have taken a proactive attitude to tackle the negative effects of the crisis by starting the implementation of measures ahead of the adoption of their NRRPs;
Amendment 199 #
2021/2251(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Recognises the positive impact of necessary tax reforms in the Member States that are included in some national plans, while deploring that none of the Member States concerned with CSR on aggressive tax planning, tax avoidance, tax evasion and money laundering, have addressed those challenges in their NRRPs;
Amendment 203 #
2021/2251(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that all approved NRRPs expect to reach the green target of at least 37 % set out in the RRF Regulation and that the overall climate expenditure of all approved NRRPs reaches almost 50 % or EUR 220 billion; underlines that the NRRPs should contribute to the green transition, including biodiversity; notes positively that several NRRPs contribute significantly to biodiversity but regrets that not all NRRPs contribute sufficiently to biodiversity;
Amendment 232 #
2021/2251(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Underlines that the current situation in Ukraine impacts heavily the energy prices and exposes the risk of the EU dependency to imported fossil fuel energy; stresses the role of the RRF in the rollout of REPowerEU and, therefore, expects the RRF to contribute significantly to the just green transition and increase the resilience of the EU-wide energy system by developing clean energy, and accelerating the reduction of EU’s dependency to fossil fuel energy and improving energy efficiency while promoting a more circular approach in the EU’s production and consumption patterns;
Amendment 233 #
2021/2251(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Notes that the crises has affected disproportionally the most vulnerable ones and regrets that some Member States are lacking behind in strengthening the social dimension of their plans;
Amendment 234 #
2021/2251(INI)
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23 b. Underlines that the current situation in Ukraine impacts heavily the energy prices and exposes the risk of the EU dependency to imported fossil fuel energy; stresses the role of the RRF in the rollout of REPowerEU and, therefore, expects the RRF to contribute significantly to the EU energy sovereignty by energy diversification and the just green transition by developing clean energy;
Amendment 246 #
2021/2251(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25 a. Calls for the Commission to continue monitoring the implementation of the six pillars and ensuring granular data is made available in the RRF scoreboard; notes positively that several Member States provide data at regional level and invites the other Member States to provide data at regional level;
Amendment 262 #
2021/2251(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Points out that the principle of ‘do no significant harm’ was evaluated for each measure by the Commission in accordance with its technical guidance; notes that in order to comply with the principle, some Member States had to improve certain measures; insists that the principle of ‘do no significant harm’ should be fully respected during the implementation of the NRRPs;
Amendment 267 #
2021/2251(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Observes that a large majority of NRRPs include a specific section explaining how the plan addresses gender- related concerns and challenges; deeply regrets that some NRRPs do not include a specific section explaining how the plan addresses gender-related concerns and challenges and calls on the concerned Member States to provide without delay those elements;
Amendment 273 #
2021/2251(INI)
Motion for a resolution
Paragraph 28 a (new)
Paragraph 28 a (new)
28 a. Is concerned that the delegated act on social expenditure and on the resilience scoreboard will not be sufficient to track and to report on the gender dimension and impacts of the RRF; calls on the Commission to come forward with complementary gender indicators tracking notably the gender impacts of the NRRPs;
Amendment 274 #
2021/2251(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Believes that NRRPs would benefit from further cross-border projects in order to enhance spill-over effects and contribute to EU added value; underlines that the current situation of Ukraine shows how crucial is the diversification of the EU’s energy sources and calls for the improvement of the interconnection of European gas and electricity networks and to fully synchronise the power grids throughout the EU;
Amendment 302 #
2021/2251(INI)
Motion for a resolution
Paragraph 31 a (new)
Paragraph 31 a (new)
31 a. Stresses the importance of promoting equality and fairness through the procurement processes and practices; calls, in this respect, the Member States to strive for ways to ensure equal and fair access to all, including the micro, small and medium size enterprises, in the procurement process;
Amendment 338 #
Amendment 383 #
2021/2251(INI)
Motion for a resolution
Paragraph 37 a (new)
Paragraph 37 a (new)
37 a. Reiterates the Commission’s estimation of the need for additional annual public investment in the three digit billion rang to address the challenges of digital transformation, green and just transition and social recovery; points out that additional means are required in order to tackle the consequences of the Russian invasion in Ukraine; therefore stresses, that an increased level of investment must be stabilised and upward convergence in the EU enhanced for many years to come;
Amendment 386 #
2021/2251(INI)
Motion for a resolution
Paragraph 37 b (new)
Paragraph 37 b (new)
37 b. Welcomes the Commission Communication on fiscal policy guidance for 2023 and its call to maintain a supportive fiscal stance to stand ready to react to the evolving economic situation; expects in this respect the general escape clause to remain activated as long as the underlying economic justifications persist;
Amendment 387 #
2021/2251(INI)
Motion for a resolution
Paragraph 37 c (new)
Paragraph 37 c (new)
37 c. Invites the Commission to take the principles of NGEU as a basis for a revamped common European fiscal architecture; considers NGEU to be a valuable and reliable blueprint for the European growth strategy for the next decade and calls for a common budgetary capacity dedicated to European strategic investment aligned with EU priorities with macroeconomic stabilisation function;
Amendment 388 #
2021/2251(INI)
Motion for a resolution
Paragraph 37 d (new)
Paragraph 37 d (new)
37 d. Notes the RRF investments in the green transition and digital transformation should contribute to increase EU strategic autonomy and independency, notably to reducing its dependency on imported fossil fuels and, in respect of the current circumstances, calls in particular for accelerating investment to ensure strategic autonomy and independency and reinforcing the EU’s security of supply;
Amendment 389 #
2021/2251(INI)
Motion for a resolution
Paragraph 37 e (new)
Paragraph 37 e (new)
37 e. Invites the Commission and the Member States to draw conclusions from the RRF exercise and improve the mechanisms driving the economic governance framework especially when it comes to establishing a more transparent and democratic coordination process, defining underlying political guidelines, cooperation between the European institutions as well as with the national governments and stakeholders and increased national ownership of policy design by providing positive incentives for productive investments and reforms, developing the national reform and investment programmes and implementing socially-balanced and sustainable structural reforms;
Amendment 10 #
2021/2200(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the Indo-Pacific region has become a geopolitical and geoeconomic reality; whereas the region’s growing economic, demographic, and political weight makes it a key player in shaping the international order and in addressing global challenges; whereas the global economy’s centre of gravity has shifted from the Atlantic to the Pacific;
Amendment 16 #
2021/2200(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the EU currently has four bilateral trade agreements in place in the region (with Japan, Singapore, South Korea and Vietnam) and, five strategic partnerships (with ASEAN, China, India, Japan and South Korea) and two connectivity partnerships (with Japan and India);
Amendment 24 #
2021/2200(INI)
Motion for a resolution
Recital D
Recital D
D. whereas geopolitical competition between the United States and China continues to rise with significant effects on global tradein the global order between key players continues to rise, namely between US and China, with significant effects on global trade; whereas recent events have affected globally sustainable supply chains and sourcing of critical raw materials and escalating energy and food prices; whereas EU- China relationship has a multifaceted nature where China is both a cooperation and negotiating partner, but is also an economic competitor and a systemic rival in a number of areas;
Amendment 34 #
2021/2200(INI)
Motion for a resolution
Recital F
Recital F
F. whereas the Regional Comprehensive Economic Partnership (RCEP) – led by ASEAN and signed as well by Australia, China, Japan, the Republic of Korea and New Zealand – entered into force in January 2022, thereby creating the world’s largest trading bloc; whereas the RCEP stands to promote greater regional cooperation in trade and investment and in digital trade while addressing regulatory issues to ease cross- border movements while including only limited provisions on labour and environment; and failing to be inclusive, people-oriented, weak on human rights, with lack of consultation of civil society organisations.
Amendment 44 #
2021/2200(INI)
Motion for a resolution
Recital G
Recital G
G. whereas the COVID-19 crisis has accelerated a number of geopolitical trends that were already under way; whereas it also highlighted the need for deepening international cooperation namely in the health sector; whereas it has also shown vulnerabilities in the global supply chains and has made clear the need for more diversification;
Amendment 55 #
2021/2200(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the EU strategy for cooperation in the Indo-Pacific, which identifies tradesustainable and fair trade and investment as a priority; believes its main focus on inclusiveness and cooperation is essential; calls for the EU’s strategic approach and engagement with the Indo- Pacific region to be developed based on the multilateral, rules-based international order with a modernised World Trade Organization at its core, based on the principles of open environment for trade and investment, a level playing field, reciprocity and mutual benefit, based on shared values and principles, including a commitment to respecting democracy, human rights and the rule of law; stresses that this new approach should constitute a fundamental reorientation based on sharedcommon interests as the region is vital to EU prosperity;
Amendment 57 #
2021/2200(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Calls on the Commission to increase its engagement with the Indo- Pacific region to build partnerships that reinforce the rules-based international order, address common global challenges, and lay the foundations for a just and sustainable economic recovery that creates long-term prosperity for both regions; reaffirms this engagement should be based on promoting democracy, the rule of law, human rights, labour rights and ratification of ILO Conventions, and universally agreed commitments such as the 2030 Agenda and its Sustainable Development Goals ( SDG’s), and the Paris Agreement on Climate Change.
Amendment 59 #
2021/2200(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Considers that the Indo-Pacific region is vital for mitigating climate change and protecting the planet’s ecological balance; believes that the EU’s engagement should seek to contribute to achieving the SDGs goals, to addressing climate change and environmental degradation and to supporting sustainable and inclusive socio-economic development, with the Green Deal at its core; therefore, calls on the Commission to engage in bilateral and multilateral cooperation with partners to meet the objectives of the Paris Agreement on Climate Change and the Convention on Biological Diversity (CBD); recalls the Indo-Pacific region is still severely hit by the COVID-19 pandemic, therefore a stronger focus is needed on securing access to the COVID-19 vaccine; calls on the Commission to work with countries of the region for pandemic preparedness including engaging in an international pandemic treaty; welcomes recent progress on the negotiations for a Covid- 19 related TRIPS waiver and insists that any outcome should cover vaccines, diagnostics and treatments.
Amendment 60 #
2021/2200(INI)
Motion for a resolution
Paragraph 1 c (new)
Paragraph 1 c (new)
1 c. Underlines that the Indo-Pacific region hosts major waterways that are of vital importance to EU trade and that 40% of the EU’s foreign trade passes through the South China Sea, making ocean governance and stability in this region a shared concern and area of cooperation; believes the EU should reinforce cooperation with Indo-Pacific partners in bilateral, regional and multilateral contexts, with the ASEAN, the African Union in the Western Indian Ocean and the ACP, to promote the rules-based international order, access to open markets and ensure a stable trading environment promoting economic growth, job creation and better living standards; underlines that further diversifying and deepening trade and investment ties should result in mutually supportive trade and economic relations with the region fostering inclusive economic growth and stability, promoting and facilitating connectivity; outlines that policy-making and cooperation with the region should promote inclusivity and assure that the voices of civil society, the private sector, social partners and other key stakeholders are taken into account.
Amendment 62 #
2021/2200(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls on the Commission to strengthen partnerships with all relevant actors in the Indo-Pacific, taking into consideration sub-regional dynamics and specificities, and to work closely with its Indo-Pacific like-minded partners to reinforce value chains by strengthening and diversifying trade relations in order to reduce strategic dependencies in critical supply chains with a particular focus on technologies and raw materials, by working towards the full implementation and better enforcement of existing trade agreements, by finalising ongoing trade negotiations and by developing cooperation in strategic sectors; underlines the importance of working together with like-minded Indo-Pacific countries on establishing technical standards, to further promote the EU as a global standard-setter;
Amendment 70 #
2021/2200(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the EU should make better and more strategic use of its economic leverage while respecting the political and economic specificities of its partner countries in order to reach its geopolitical goals, by deploying its full, integrated range of policy instruments for this purpose; and to promote global and binding standards on development, fiscal fairness, consumer protection, labour rights, and climate change while contributing to the region’s stability, security, prosperity and sustainable development, in line with the principles of democracy, rule of law, human rights and international law.
Amendment 83 #
2021/2200(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Welcomes the substantial growth in bilateral trade between the EU and South Korea since the FTA entered into force in 2011; is pleased with the recent steps taken by South Korea in respect of the ratification and implementation of International Labour Organization (ILO) Conventions No 29, No 87 and No 98 and the implemented changes on the labour code; calls on South Korea to speedily take the necessary steps to ratify the outstanding ILO Convention No 105; supports further cooperation between the EU and South Korea on semiconductors;
Amendment 85 #
2021/2200(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls on the remaining EU Member States to proceed with the internal ratification of the EU-Singapore IPA and PCA, signed in October 2018, in particular given the importance of Singapore as the EU’s largest FDI destination in Asia, with EU FDI stocks in Singapore amounting to EUR 256 billion at the end of 2020; calls on Singapore to make increased efforts towards ratifying and implementing the fundamental ILO conventions;
Amendment 90 #
2021/2200(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Believes the EU-Japan Economic Partnership Agreement has been instrumental in creating more sustainable trade; welcomes the increase in the preference utilisation rates for EU exports to Japan in 2020; underlines that further progress is needed in the implementation of the agreement, in particular as regards the utilisation rates of tariff rate quotas opened by Japan for EU exporters, the liberalisation of trade in services and; welcomes the undertakings of Japan towards the ratification ofthe outstanding ILO Cconventions No 105 and further calls for swift progress on the ratification of ILO convention No 111;
Amendment 96 #
2021/2200(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Call onUrges the Member States to ratify the EU-Vietnam IPA and PCA so that it enters into force and creates favourable conditions to boost EU investment in Vietnam and in the region, in particular in areas promoting green transformation and the circular economy; underlines the importance of the TSD Chapter for the EU and calls for a swift set up of the Domestic Advisory Groups (DAG); urges Vietnam to guarantee a full implementation of the sanitary and phytosanitary provisions; invites Vietnam to complete its key labour reforms in accordance with the agreement and to swiftly ensure the ratification of ILO Convention No 87 by 2023;
Amendment 104 #
2021/2200(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls for continuing actions oriented at raising awareness among businesses, stakeholders, civil society, social partners and citizens of existing FTAs in the region and the opportunities they provide; calls for strengthened technical and financial support where necessary to help partner countries to effectively implement FTAs, in particular the chapters on TSD;
Amendment 113 #
2021/2200(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for substantive progress and the conclusion of negotiations on the EU- Australia and EU-New Zealand FTAs by no later than mid 2022 in order for the European Parliament to be able to duly ratify these balanced agreements in the current parliamentary mandate, not compromising the content of the agreement over the calendar;
Amendment 115 #
2021/2200(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Welcomes the decision to resume negotiations with India on a comprehensive trade agreement with India and supports, as an intermediate andand mutually beneficial trade agreement promoting shared values of freedom, democracy, pluralism, the rule of law, equality, respect for human rights, a commitment to promoting an inclusive, coherent and rules-based global order, effective multilateralism, fighting climate change, enforceable trade and sustainable development and promoting peace and stability in the world; welcomes as a positive step, the conclusion of a stand- alone IPA and possibly of an agreement on geographical indications; welcomes the establishment of permanent structures such as high-level dialogues in several sectors; calls on India to step up its engagement and meet the EU’s ambition on content and timetable;
Amendment 122 #
2021/2200(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Underlines the need for the EU to pursue its multifaceted engagement with China, especially in this geopolitically challenging global contextdialogue with China, taking into account the present geopolitically challenging global context, including on the Russian invasion of Ukraine; stresses that it is important to continue engaging bilaterally to promote solutions to common challenges and to cooperate on issues of common interest;.
Amendment 124 #
2021/2200(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Acknowledges that the discussions on the ratification of the Comprehensive Investment Agreement between the EU and China have been put on hold in the European Parliament for the moment; believes, however,considers that dein spite ourf multiple diffvergences wethe EU should continue to maintain dialogue at all levels and through various channels to be able to understand eplomatic dialogue with interlocutors at all appropriate levels to find a way out of the present situation; recalls that is essential full respect for universal values and to abide by international standards including with regard to its impacht others positions and in particular to find a way out of the present situation; n climate, the environment, biodiversity, poverty, health, labour rights and human rights; urges China, in the context of promoting sustainable trade and development, to take concrete action towards the ratification and implementation of the four outstanding fundamental ILO conventions; calls on the Commission, the Council and all Member States to uphold the EU’s core values.
Amendment 136 #
2021/2200(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Is looking forward toBelieves that the EU-China Summit taking place in April 2022; trusts that it will could contribute to calming the recently escalating trade and geopolitical tensions between both parties, that it will allowallowing for progress towards developing a much more balanced economic relationship based on reciprocity and that it will help to resolve the crisis linked to sanctions imposed on EU policymakers, including members of the European Parliament;
Amendment 144 #
2021/2200(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes recent progress in negotiations on the Comprehensive Economic Partnership Agreement with Indonesia, including on sustainability related areas, and renewed commitment by both sides to conclude this agreement; stresses that according to the Commission, the agreement could bring 2.3 % growth to the GDP of Indonesia by 2032;
Amendment 147 #
2021/2200(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Regrets the fact that negotiations on a bilateral trade and investment agreement with Philippines, which started in 2015, have been put on hold; acknowledge due to continuous violation of human rights and conditions to progress were not met; recalls that negotiations should only resume once the worrying and critical situation concerning human rights and the rule of law in Philippines has improved;
Amendment 6 #
2021/2185(INI)
Motion for a resolution
Citation 4 a (new)
Citation 4 a (new)
- having regard to the European Committee of the Regions Opinion (ECON-VII/015) to the European Commission Report of 7 July 2021on Competition Policy 2020 (COM(2021)0373),
Amendment 8 #
2021/2185(INI)
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
- having regard to Directive (EU) 2019/1 of the European Parliament and of the Council of 11 December 2018 to empower the competition authorities of the Member States to be more effective enforcers and to ensure the proper functioning of the internal market5,
Amendment 9 #
2021/2185(INI)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
Amendment 10 #
2021/2185(INI)
Motion for a resolution
Citation 8 b (new)
Citation 8 b (new)
- having regard to the Special Advisors Report on “Competition Policy for the Digital Era” commissioned by DG Competition, 1b __________________ 1bEuropean Commission, Directorate- General for Competition, Montjoye, Y., Schweitzer, H., Crémer, J., Competition policy for the digital era, Publications Office, 2019, https://data.europa.eu/doi/10.2763/407537
Amendment 11 #
2021/2185(INI)
Motion for a resolution
Citation 8 c (new)
Citation 8 c (new)
Amendment 12 #
2021/2185(INI)
Motion for a resolution
Citation 8 d (new)
Citation 8 d (new)
- having regard to the Final 1c Report for DG Justice on "Consumer vulnerability across key markets in the European Union"1d, __________________ 1cEuropean Commission, Consumers, Health, Agriculture and Food Executive Agency, Consumer vulnerability across key markets in the European Union : final report, Publications Office, 2016, https://data.europa.eu/doi/10.2818/056024 1dEuropean Commission, Consumers, Health, Agriculture and Food Executive Agency, Consumer vulnerability across key markets in the European Union : executive summary, Publications Office, 2017, https://data.europa.eu/doi/10.2818/165625
Amendment 13 #
2021/2185(INI)
Motion for a resolution
Citation 8 e (new)
Citation 8 e (new)
- having regard to the “Online platforms and digital advertising” Market Study1e of the Competition and Markets Authority (CMA) of the United Kingdom, __________________ 1eCompetition and Markets Authority (CMA), "Online platforms and digital advertising market study", Market Study Final Report, 1 July 2020, https://assets.publishing.service.gov.uk/m edia/5fa557668fa8f5788db46efc/Final_re port_Digital_ALT_TEXT.pdf
Amendment 14 #
2021/2185(INI)
Motion for a resolution
Citation 8 f (new)
Citation 8 f (new)
- having regard to the Digital Advertising Services Inquiry Report1f of the Australian Competition and Consumer Commission (ACCC), __________________ 1fAustralian Competition and Consumer Commission (ACCC), "Digital advertising services inquiry", Final report, August 2021, https://www.accc.gov.au/system/files/Digit al%20advertising%20services%20inquiry %20-%20final%20report.pdf
Amendment 15 #
2021/2185(INI)
Motion for a resolution
Citation 9 a (new)
Citation 9 a (new)
- having regard to the Communication (C(2021) 8838final) from the Commission on Guidelines on the application of EU competition law to collective agreements regarding the working conditions of solo self-employed persons of December 9th 20217,
Amendment 17 #
2021/2185(INI)
Motion for a resolution
Citation 13 a (new)
Citation 13 a (new)
- having regard to Communication C(2021) 9817 final of December 21st 2021 from the Commission on the Guidelines on State aid for climate, environmental protection and energy 2022 (CEEAG)10,
Amendment 19 #
2021/2185(INI)
Motion for a resolution
Citation 13 b (new)
Citation 13 b (new)
- having regard to the joint motion for a resolution by the European Parliament on the climate, energy and environmental State aid guidelines (CEEAG) (2021/2923(RSP))of October 20th 2021,2a __________________ 2a Texts Adopted, P9_TA(2021)0441.
Amendment 20 #
2021/2185(INI)
Motion for a resolution
Citation 13 c (new)
Citation 13 c (new)
- having regard to the European Court of Auditors’ (ECA) Special Report 24/2020 entitled "The Commission’s EU merger control and antitrust proceedings: a need to scaleup market oversight",
Amendment 29 #
2021/2185(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas one of the purposes of Union rules that seek to ensure that competition is not distorted in the internal market, is to increase the well-being2b of consumers, and that competition law and competition policy therefore have an undeniable impact on the specific economic interests of final customers who purchase goods or services as acknowledged by the General Court of the European Union Judgment of June, 7 2006 in Joined Cases T-213/01 and T- 214/01; __________________ 2bJoined Cases T-213/01 and T-214/01 Österreichische Postsparkasse and Bank für Arbeit und Wirtschaft v Commission [2006] ECR II-1601, para 115.
Amendment 31 #
2021/2185(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
Ab. whereas one of the aims of the Union's competition rules is to protect competition in the market as a means of enhancing consumer welfare2c and of ensuring an efficient allocation of resources in accordance with the European Commission’s Guidelines on the application of Article 81(3) of the Treaty; __________________ 2c OJ C, 27.4.2004, p. 97, para. 33.
Amendment 33 #
2021/2185(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
Ac. whereas EU competition policy must safeguard a fair labour market, including the digital labour market, with concrete actions to address existing and emerging challenges, such as skills gaps, inequalities in the workforce, and disparities between the functions of traditional and digital labour markets;
Amendment 34 #
2021/2185(INI)
Motion for a resolution
Recital A d (new)
Recital A d (new)
Ad. whereas EU competition policy must be adapted to address new vulnerabilities, as well as socio-economic and territorial inequalities and disparities identified across Member States, in order to preserve cohesion in the Single Market;
Amendment 35 #
2021/2185(INI)
Motion for a resolution
Recital A e (new)
Recital A e (new)
Ae. whereas EU competition policy must stimulate businesses to invest and deploy more advanced digital infrastructure and tools (e.g. cloud, microprocessors, artificial intelligence) and less polluting and more efficient manufacturing technologies;
Amendment 37 #
2021/2185(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the Commission needs an appropriate and effective set of instruments to enforce competition rules, methods, and tools to adapt competition law enforcement and competition rules to the digital market and properly ensure their uniform implementation and full alignment with the Union’s environmental and social goals;
Amendment 43 #
2021/2185(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas digital markets are becoming more concentrated and demonstrate lower levels of investment in innovation and overall disruption as a consequence of deteriorating market dynamics and increased market power;
Amendment 46 #
2021/2185(INI)
Motion for a resolution
Recital B b (new)
Recital B b (new)
Bb. whereas EU competition rules and the enforcement thereof as regards digital markets have to be reassessed in order to appropriately address the borderless characteristic that defines digital markets;
Amendment 48 #
2021/2185(INI)
Motion for a resolution
Recital B c (new)
Recital B c (new)
Bc. whereas EU competition policy should be fit for the sustainable transition and should be aligned with the climate, energy, circularity, zero-pollution, and biodiversity goals and ambitions of the Union;
Amendment 51 #
2021/2185(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas international cooperation and new instruments such as the Foreign Subsidies Regulation are essential to ensure third countries are disincentivised from subsidising undertakings that are active in the Union, in line with the rules of the single market, which prohibit such practices for Member States and European businesses;
Amendment 54 #
2021/2185(INI)
Motion for a resolution
Recital C b (new)
Recital C b (new)
Cb. whereas competitive advantages may be established and unfair competitive practices may be employed, as a result of typically legitimate and highly sophisticated tax avoidance schemes, involving several jurisdictions;
Amendment 55 #
2021/2185(INI)
Motion for a resolution
Recital C c (new)
Recital C c (new)
Cc. whereas such tax schemes may be effective through EU based subsidiaries of non – EU legal entities, thus creating a competitive disadvantage of European entities within the single market;
Amendment 56 #
2021/2185(INI)
Motion for a resolution
Recital C d (new)
Recital C d (new)
Cd. whereas significant tax differences between Member States regarding digital service providers and digital market participants may result in creating unfair competitive advantages;
Amendment 57 #
2021/2185(INI)
Motion for a resolution
Recital C e (new)
Recital C e (new)
Ce. whereas the EU should observe and closely monitor third countries’ and non-EU entities’ policies and practices, which directly or indirectly distort competition within the EU, and proceed with appropriate measures to prevent such policies and practices for the benefit of EU citizens and businesses;
Amendment 59 #
2021/2185(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Emphasises that the challenges arising from the COVID-19 pandemic need to be adequately taken into account and addressed, and that the guiding principle should be the reasonable phasing out of specific support measuressolidarity, fairness, and the reasonable and progressive phasing out of specific support measures, when the economic situation allows it; stresses the need to avoid cliff-edge effects and avert an asymmetric recovery and risk of an even greater economic divergence within the single market; highlights that the future of the pandemic cannot be safely predicted;
Amendment 68 #
2021/2185(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Stresses that companies should respect international standards on social, economic and environmental well-being and climate change along its value chain, in line with OECD guidelines; calls on the Commission, in this light, to present a legal framework for a mandatory human rights and environmental due diligence instrument without delay;
Amendment 73 #
2021/2185(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Welcomes the Commission’s initiative to issue guidelines on the application of EU competition law to collective agreements regarding the working conditions of solo self-employed persons; urges the Commission to clarify that collective agreements of solo self- employed persons fall outside the scope of competition law, while respecting existing collective bargaining systems and fundamental labour rights; calls for the broadest possible approach, in order to ensure access to collective bargaining for all solo self-employed workers, offline as well as online;
Amendment 74 #
2021/2185(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Calls for the development of an effective system of well-adjusted and complementing regulatory and enforcement instruments fit for the digital economy, in light of the inherent differences of digital markets to traditional markets for which several competition rules and enforcement tools were initially drafted and provided so as to facilitate the digital and green transition;
Amendment 80 #
2021/2185(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Calls for a synchronisation of EU competition law with the broader constitutional values and programmatic aims regarding sustainability, at the international, EU and national levels;
Amendment 83 #
2021/2185(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Reaffirms the need for an in-depth review and effective implementation of existing competition instruments, and the adoption of new ones based on digital technologies fit for investigations in digital markets;
Amendment 89 #
2021/2185(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Highlights the need to adequately meet the new circumstances, increasing the effectiveness of the investigations through the use of new techniques stemming from computational means (big data, artificial intelligence, machine learning/deep learning) in competition law enforcement, considering in particular tailor-made solutions for competition law monitoring and enforcement in digital markets;
Amendment 93 #
2021/2185(INI)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Welcomes the transposition of Directive (EU) 2019/1 into national law in Member States, empowering national competition authorities (NCAs) to be more effective enforcers of competition policy; emphasises that NCAs’ strengthened investigation and decision-making capacities as well as sufficient levels of human and financial resources allow for a better enforcement of competition rules independently and impartially; recommends increasing the analytical capacity of NCAs to enable them to better address the complexities arising in the enforcement of competition law in digital markets; further recommends NCAs to collaborate on sharing of best practices and work together with other competent authorities taking a multi-disciplinary approach in breaking down enforcement silos as anti-competitive conduct may also break areas of data protection or consumer law;
Amendment 96 #
2021/2185(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Takes note of theNotes with appreciation the six month renewal of the temporary framework for State aid measures, which was established in response to the COVID- 19 crisis and is designed to accelerate the recovery; emphasises that the prolongation of the economic effects of the COVID-19 crisis on several core industries with the emergence of new virus variants need be taken into consideration for possible future renewals of the temporary framework; reminds that State aid schemes are devised at the Member State level; is concerned with possible distortions to the cohesion of the internal market as a result of the temporary measures contributing to an uneven playing field with undertakings based in Member States with different spending power take advantage of the exceptional measures and the divergent fiscal spaces; urges the Commission monitor any such effects;
Amendment 104 #
2021/2185(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Emphasises that a smooth, timely, and proportionate exit from the Temporary State aid Framework is necessary to progressively reduce the flexibility granted under the temporary measures in alignment with the evolution of the COVID-19 crisis; reiterates that the National Recovery and Resilience Plans (NRRPs) are appropriate vehicles to accelerate the recovery of national economies; reminds that NRRP spending at the Member State level should incorporate European goals to deliver on the digital and green transitions; highlights the possible distortive effects to competition in national markets stemming from NRRPs pending should be monitored; calls on the Commission to maintain its coordinating role in ensuring that NRRPs are synchronised with the EU’s Recovery and Resilience Facility (RRF); urges the Commission to closely monitor possible fragmentations of the European Industrial strategy stemming from diverging national industrial policies in order to deliver a coherent, sustainable, and resilient recovery from the COVID-19 crisis; further calls on the Commission to introduce a post COVID-19 roadmap for targeted State aid in order to promote competitiveness and safeguard jobs, in particular in areas where employment levels are abnormally low;
Amendment 114 #
2021/2185(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Reiterates the importance of the Commission and the Member States launching a post-COVID-19 roadmap for better targeted State aid in order to promote competitiveness and growth and ensure high-quality jobs; calls on the Commission and Member States to launch a post COVID-19 roadmap to tackle fragmentation, market distortions and a possible unlevelled playing field in the single market caused by Member States’ asymmetric application of State aid; further calls on the Commission to introduce guidance on the appropriate use competition policy tools to foster a recovery cantered on sustainable jobs and sustainable transition of market participants; recommends the roadmap encompassed an assessment on the effect of the COVID-19 crisis on EU competition policy;
Amendment 138 #
2021/2185(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the Commission’s proposal for a new regulation on foreign subsidies in order to curtail potentially distortive effects on the single market, close the enforcement gap, and level the playing field for European companieall undertakings active in the internal market including non-EU undertakings by using EU competition law instruments and their key building blocks;
Amendment 145 #
2021/2185(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Notes that national tax policies and measures can impact tax collection of other Member States and can have a distortive effect on both fair competition and investments in the single market; recalls that some Member States’ schemes taxing profits made in an international context at a lower rate than the national nominal rate or artificially lowering marginal rates risk putting SMEs at a competitive disadvantage;
Amendment 148 #
2021/2185(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8b. Welcomes the adoption of the public country-by-country reporting (pCBCR) proposal in November 2021 and urges Member States to transpose the obligations into their national laws as soon as possible; looks forward to the Commission legislative proposal to extend corporate tax transparency to all countries where an undertaking or group of undertakings operates in, based on the methodology for calculating effective tax rates established under Pillar 2 of the OECD negotiations; repeats its call for a minimum effective corporate tax rate; welcomes the Commission’s “Business in Europe: Framework for Income Taxation”(BEFIT) proposal and calls on Member States to swiftly agree on an ambitious proposal for a European corporate tax rulebook;
Amendment 176 #
2021/2185(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Reiterates that limited access to relevant data may hinder participants’ entry into the market, and inhibit the overall rate of expansion and innovation in a given market; notes with concern that gatekeepers that develop a data advantage over rivals can achieve critical economies of scale therefore contributing to the further tilting of competitive balances in digital markets;
Amendment 178 #
2021/2185(INI)
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13b. Stresses that digital transformation is exacerbating the need for adaptation of competition policy and adjustments to the enforcement thereof; reminds that the characteristics of digital markets such as higher returns to scale and strong network externalities, particularly in the platform economy, enable incumbent market participants to establish advantageous competitive positions and create lock-in effect for categories of users; reminds that participants in the digital market can collect, store, process, combine, and accumulate vast amounts of data, and that differential access thereto may enable possible barriers to market entry and distortions to competition; highlights that data concentrations are increasingly relevant and appropriate identifiers for relevant markets and potential distortions to competition;
Amendment 179 #
2021/2185(INI)
Motion for a resolution
Paragraph 13 c (new)
Paragraph 13 c (new)
13c. Takes note of the Commission’s opening of antitrust investigations into possible anticompetitive conducts in the online advertising technology sector; reminds that the investigations are aimed at assessing whether EU competition rules have been violated by favouring own online display advertising technology services in the ad tech supply chain, and for using advertising data gathered from advertisers to compete with them in the classified ads market; takes note of the CMA’s 2020 market study into online platforms and digital advertising, and the ACCC’s 2021 report of its inquiry into the markets for the supply of ad tech services and ad agency services; urges the Commission to build on the momentum and early indications of the recent antitrust investigations into possible anticompetitive conduct in the online advertising technology sector, and commence a market study of the sector in the EU to investigate issues that have an impact on competition, the functioning of the market, and consumer-specific issues such as choice, quality, safety, privacy, and information, as well as consumer understanding, behaviour and decision making;
Amendment 181 #
2021/2185(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the recent judgment by the General Court of the EU3 , which confirms the Commission’s assessment as regards a dominant market position and is proof and an example of the effective application of traditional EU competition rules in the context of a digital economy; notes with concern that Case T-612/17 started in November 2010, and that the digital market is a fast-moving market; emphasises the need for new instruments to respond more swiftly to actual or potential market dominance and the potential distortions to competition thereof, as well as any negative impacts on consumer welfare and choice they create; __________________ 3Judgment of the General Court of 10 November 2021, Google and Alphabet v Commission, T-612/17, ECLI:EU:T:2021:763.
Amendment 187 #
2021/2185(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Stresses that the rise of exploitative and exclusionary practices such as self- preferencing, exploitation of upstream providers, and excessive data collection enables digital platforms to determine market dynamics and control the ecosystem; notes with concern that excessive data processing whether through direct or third-party tracking which is non-compliant with data protection and privacy legislation can be viewed as a form of quality degradation by dominant providers and negatively impact consumer welfare;
Amendment 190 #
2021/2185(INI)
Motion for a resolution
Paragraph 14 c (new)
Paragraph 14 c (new)
14c. Emphasises the importance of developing accurate and appropriate new theories of harm to take account of the evolution of business models and enforcing competition law thereto; calls on enforcement authorities and agencies to incorporate the intricacies of evolving business models when exploring novel theories of harm in order to avoid situations where infringement procedures may result in unintended consequences such as increased business uncertainty or possible chilling effects on competition;
Amendment 191 #
2021/2185(INI)
Motion for a resolution
Paragraph 14 d (new)
Paragraph 14 d (new)
14d. Considers the introduction of the concept of consumer vulnerability in competition assessments an appropriate measure to adapt the enforcement of EU competition law to evolving market dynamics; emphasises that established concepts from consumer law can enable the creation of an intervention benchmark in competition cases; stresses that enhanced protection to vulnerable groups of consumers is pivotal in digital markets, where the information asymmetry between the consumer and the provider as regards data processing and analytic processes employed to influence consumption behaviour may result in exposure to vulnerability and increased switching costs for consumers; further considers that the identification of consumer vulnerabilities in competition assessments could provide relevant insights to assessing restrictive practices or designing consumer-facing remedies;
Amendment 195 #
2021/2185(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Recalls the Council's call on the Commission to consider how to tackle distortive effects resulting from a participation of bidders using tax havens outside the EU for tax avoidance purposes, giving a potential unfair advantage to multinational companies participating in such activities3a; recalls the European Parliament’s call on the Commission to consider the development of certain conditions to be applied to corporations and aggressive tax planning enablers and facilitators in public procurement procedures3b; urges the Commission to evaluate whether current legal standards allow the exclusion of undertakings or groups of undertakings using tax havens to reduce their tax bill based on the possible exclusion of bidders based on their integrity; invites the Commission to provide legal clarity in the form of guidelines to its Public Procurement Framework in this regard; calls on national governments to integrate this in their national frameworks; __________________ 3aCouncil Conclusions: Public Investment through Public Procurement: Sustainable Recovery and Reboosting of a Resilient EU Economy (13352/20), 25 November 2020, General Secretariat of the Council, para. 20, https://www.consilium.europa.eu/media/4 6905/st13352-en20.pdf 3b P9_TA(2021)0022, para. 23 - 26.
Amendment 218 #
2021/2185(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Welcomes the Commission’s revised Climate, Energy and Environmental Aid Guidelines (CEEAG) and its efforts to strengthen the 2014 guidelines and to aim for a higher level of environmental protection, which includes the decarbonisation of the energy sector; recalls the Union’s climate objective of reducing green house gas emissions by at least 55 % by 2030, as laid down in the European Climate Law, and the target of reaching climate neutrality by 2050 at the latest; welcomes the increased focus on fighting climate change and reducing green house gas emissions in the draft CEEAG; maintains that environmentally sustainable State aid is key to meeting the EU climate, energy and environmental protection objectives, while ensuring a just transition;
Amendment 220 #
2021/2185(INI)
Motion for a resolution
Paragraph 18 b (new)
Paragraph 18 b (new)
18b. Welcomes the new chapter in the CEEAG on aid for the closure of coal, oil shale and peat activities; underlines that the phasing out of coal is one of the most important drivers for decarbonisation and recalls that the European Parliament in its resolution of 20 October 2021 called for introducing clear safeguards on the phasing out of fossil fuels, and that these safeguards may include mandatory closure dates; recalls furthermore that this resolution states that state aid rules should not cause or contribute to lock-in effects of green house gas emissions or the creation of stranded assets, and asks the Commission to monitor and apply measures to avoid lock-in effects where possible, in a way that is fully in line with the Union’s climate objectives;
Amendment 221 #
2021/2185(INI)
Motion for a resolution
Paragraph 18 c (new)
Paragraph 18 c (new)
18c. Welcomes European Commission’s Executive Vice-President Vestager’s remarks at the Conference of Europe Ministers of the German Länder on January 30, 2020 regarding the EU’s State aid rules for the future, enabling governments to support companies to decarbonise and electrify production4a; highlights that the results of the “fitness check” of the State aid rules confirms that adjustments would be necessary to align State aid rules with the objectives of the European Green Deal; __________________ 4aConference of Europe Ministers of the German Länder, Brussels, European Commission Executive Vice-President Margrethe Vestager, "State aid and a green, digital future", 30 January 2020, https://ec.europa.eu/commission/commissi oners/2019- 2024/vestager/announcements/state-aid- and-green-digital-future_en
Amendment 222 #
2021/2185(INI)
Motion for a resolution
Paragraph 18 d (new)
Paragraph 18 d (new)
18d. Reaffirms that individual State aid rules require further adaptation to be aligned with recent environmental and energy legislation, political and sustainability priorities, and developments in both technology and markets; emphasises that State aid rules should also be aligned with future challenges, in particular through the revision of the energy and environmental rules aimed at facilitating measures to further promote a modern decarbonised and circular economy;
Amendment 223 #
2021/2185(INI)
Motion for a resolution
Paragraph 18 e (new)
Paragraph 18 e (new)
18e. Welcomes the European Commission’s introduction of common assessment principles in a number of State aid guidelines to determine the compatibility of State aid with the internal market, including the proportionality test to ensure the consistent application of the rules; recommends that adjustments may be necessary to the common assessment principles to ensure that the objectives of the European Green Deal are met; notes with regret the Judgement of the European Court of Justice of September in case C-594/18 P, according to which the Commission did not have to take into account environmental protection principles in its State aid decision4b; calls on the Commission to update the common assessment principles and develop new guidelines on how sustainability considerations should be incorporated in the assessment of compatibility of aid to facilitate competitiveness based on high social and environmental standards; __________________ 4bCase C-594/18 Austria v Commission [2020] ECLI:EU:C:2020:742, para. 102.
Amendment 236 #
2021/2185(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Urges the Commission to accelerate its commitment to reviewing its notice on the definition of relevantthe notice on the definition of relevant market for the purposes of Community competition law (“Notice”); recalls that the Notice is an important tool the Commission uses in its enforcement of those rules to identify the boundaries of competition between companies; emphasises that the Notice needs to be updated to reflect technological change, the evolving market characteristics of the digital market ecosystem, multi-sided markets, the importance of data, and zero-price markets;
Amendment 239 #
2021/2185(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Is of the opinion that the accelerating speed of market entry and exit, and that of innovation, in combination with shorter innovation cycles, requires more dynamic analyses as regards market definition in digital markets; recalls that in dynamic market contexts, high market shares may not necessarily be indicative of market power as demonstrated by Case T-79/125a, and Commission decision in Case M.62815b; highlights that in digital markets where boundaries are becoming increasingly more blurred, ecosystem-specific aftermarkets may need to be defined where market players’ lock-in strategies are successful and consumers find it difficult to leave the ecosystem; __________________ 5aCase T-79/12, ECLI:EU:T:2013:635, para. 69. 5bCommission decision of 7 October 2011 in Case M.6281 Microsoft/Skype para. 78.
Amendment 243 #
2021/2185(INI)
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20b. Emphasises that price is not an all-encompassing parameter for market definition in all cases in the digital economy; highlights that in zero-price markets, consumers access products and services in exchange for their data and are, in return, exposed to profiling and advertising where functionalities such as quality, privacy, data processing, and attention are more fitting parameters; reminds that the Small but Significant Non-transitory Increase in Price (SSNIP) is not the only method available to the Commission when defining the relevant product market; calls on the Commission to consider the Small but Significant Non- transitory Decrease in Quality (SSNDQ) method employed in Case AT.400995c as an alternative tool, where appropriate, for market definition in the review of the Notice; __________________ 5c Commission decision of 18 July 2018 in Case AT.40099, para. 263 - 267
Amendment 244 #
2021/2185(INI)
Motion for a resolution
Paragraph 20 c (new)
Paragraph 20 c (new)
20c. Emphasises that technological means and the large amounts of personal data relevant for online personalisation and price discrimination are extensive, developing rapidly, and difficult to detect; recalls that online marketplaces, platforms, and social media may use data analytics and profiling techniques to improve the efficiency of advertising up to the level of individual consumers, personalise the ranking of the offers, or vary prices to reflect the cost of serving individual customers; reiterates that personalised pricing practices including but not limited to ranking and nudging may present a challenge for consumers and prevent them from getting the best deal on the market; calls on the Commission to further investigate the impact of personalised pricing and integrate this practice in the product dimension of the evidence relied on to define relevant markets in the review of the Notice;
Amendment 245 #
2021/2185(INI)
Motion for a resolution
Paragraph 20 d (new)
Paragraph 20 d (new)
20d. Reaffirms that the possession of data which is not available to market entrants, and may result in a competitive advantage, can also lead to market dominance; notes with concern that the development of such dominance over market rivals can extend to adjacent markets where the possession of data may result in a competitive advantage in providing complimentary services; urges the Commission to coordinate the development of an analytical framework as regards access to data, and the sustainability of differential access to data, and provide guidance to competition authorities to objectively, and on a case- by-case basis, incorporate such assessments in measuring market power;
Amendment 249 #
2021/2185(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. Calls on the Commission to review its merger and acquisition rules when it comes to assessing personal data; calls, in particular, on the Commission to fully consider and assess personal data assets as all other traditional physical assets when it decides on digital mergers and acquisitions; urges the European Commission to take a broader view when evaluating digital mergers and assess the impact of data consolidation; notes that the acquisition of targets with specific data resources can bring about a concentration in control over valuable and non-replicable data resources and result in better data access for the merging parties than for their competitors; stresses that data consolidation via mergers may strengthen a dominant position or allow the acquiring entity to leverage market power, and sometimes raise foreclosure concerns;
Amendment 260 #
2021/2185(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Considers in particular antitrust proceedings as too lengthy, slowing down much needed market corrections and consequently negatively impacting effectiveness of competition law enforcement, especially in the case of rapidly growing digital markets; calls therefore for faster antitrust proceedings and asks for cooperation on this not only from the Commission but also from the companies under investigation; condemns in that context that some companies under investigation artificially prolong investigations by systematically requesting prolongations of deadlines and by replying to requests for information only with substantial delays or by submitting ineffective proposals for commitments they would take;
Amendment 1 #
2021/2176(INI)
Motion for a resolution
Recital A
Recital A
A. whereas since the Lisbon Treaty, foreign direct investment has remained an exclusive competence of the European Union, as enshrined in Article 3(1)(e), Article 206 and Article 207 TFEU; whereas the EU’s international investment policy should be furtherneeds to accelerate and strengthen its reformeds to address the current challenges;
Amendment 17 #
2021/2176(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas, in order to attract investment, labour standards, respect for the environment and corporate social responsibility should not be lowered in the sustainable development chapters of EU IIA;
Amendment 22 #
2021/2176(INI)
Motion for a resolution
Recital G a (new)
Recital G a (new)
Ga. whereas foreign direct investment (FDI) in developing countries is a primary means of financing the 2030 Agenda for Sustainable Development; whereas such capital can support job creation, and social and environmental improvements as set out in the SDGs;
Amendment 23 #
2021/2176(INI)
Motion for a resolution
Recital G b (new)
Recital G b (new)
Gb. whereas the EU is a global leader in investment policy reform; whereas significant reform of investment policy has been undertaken at European and international level since the entry into force of the Lisbon Treaty, at the insistence and with the support of the European Parliament; whereas the EU has launched and concluded IIAs with third countries, reformed investment protection provisions, replaced ISDS with ICS, launched multilateral negotiations for an investment court, proposed legislation to regulate foreign subsidies, and adopted legislation for the screening of inward foreign direct investment; whereas these developments are significant steps in the right direction for a modernised and sustainable investment policy; whereas much more remains to be done to advance this reform agenda;
Amendment 27 #
2021/2176(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Believes that the EU’s investment policy needs to meet the expectations of investors and beneficiary states, but also the EU’s broader economic interests and external policy objectives; considers that EU international investment policy needsshould continue to be reformed in order to address a variety of challenges and transform it into an integrated and coherent policy framework;
Amendment 33 #
2021/2176(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Underlines that investment can and should have a positive impact on sustainable development and create jobs; recalls that investment agreements should serve to facilitate investment, as well as provide a regulatory framework for minimum standards and commitments; points out that inbound and outbound investments need to meet the needs of the real economy; calls on the Commission to continue reviewing the EU’s investment policy to ensure consistency with the European Green Deal and the Sustainable Development Goals;
Amendment 44 #
2021/2176(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Points out that the definition of investment as codified in EU IIAs covers not only greenfield investments, but alsoshould not cover financial instruments that can be held for purely speculative purposes or for the extraction of rent;
Amendment 46 #
2021/2176(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Underlines that greater transparency and tighter controls on arbitration have been introduced with the ICS, including the creation of a permanent tribunal, a permanent appeal mechanism, a code of conduct and improved substantive provisions, such as reiterating the right to regulate, improving transparency and preventing arbitration for loss or expectation of profits;
Amendment 67 #
2021/2176(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Urges the Commission to exclude invensure consistments in fossil fuels or any other activities that pose significant harm to the environment and human rightcy between IIAs and EU environment policies, labour rights and human rights, in particular by excluding investments in fossil fuels from treaty protections, in particularcluding investor- state arbitration mechanisms, and by including in the sustainable development chapters provisions that help to comply with the Paris Agreement and international treaties on labour and gender equality;
Amendment 73 #
2021/2176(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Points out that even in the absence of legal proceedings, the explicit or implicit threat of recourse to investment arbitration can enhance the position of investors in negotiations with states (the ‘chilling effect’); calls on the Commission to follow the same line as in recent trade IIA and to clarify the right of the government to prioritise legitimate public policy objectives, even if it may affect the profit expectations of an investor;
Amendment 77 #
2021/2176(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Stresses that IIAs do not contain investor obligations; stresses that only foreign investors can launch investment cases against states; regrets the fact that having a case dismisseTakes note of provisions in IIAs for environmental, labour and corporate responsibility obligations for states and investors and the non-lowering of standards, but regrets that the reform of investor obligations has not kept pace with that of investor rights; notes that in the majority of IIAs, only foreign investors can launch investment cases against states; urges the Commission to accelerate multilateral discussions to expand investor obligations and its the best possible outcome for respondent stateenforcement, including through negotiations for a UN Binding Treaty on Business and Human Rights;
Amendment 78 #
2021/2176(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Stresses that EU and Member State IIAs must ensure full compatibility with the provisions of forthcoming instruments on sustainable corporate governance, forced labour and deforestation in order to advance the enforcement of investor obligations; notes that progress in these areas and the continued strengthening of EU IIA provisions should ensure that EU investors in third countries, in particular in developing countries, transparently demonstrate strategies to actively contribute to the achievement of the SDGs and the Paris goals, and are subject to accountability mechanisms, in particular by providing access to justice for victims in third countries;
Amendment 81 #
2021/2176(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Is concerned that recent EU IIAs still contain broadWelcomes recent reforms limiting protection standards, and underlines that EU IIAs should not allow protection standards which canto be used to challenge legitimate public policies; asks the Commission to further reform this area to only allow protection against discrimination, direct expropriation and, the gross denial of justice, and the specific cases of state abuses that EU investors in third countries may face; and to ensure that foreign investors are not accorded superior rights to those enjoyed by domestic investors;
Amendment 89 #
2021/2176(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Underlines the fact that EU IIAs negotiated after 2009 still include sunset clauses which prevent easy termination; points out thatcalls on Member States and the other contracting parties can agree to neutralise sunset clauses in current agreements and not to include sunset clauses in new investment agreements;
Amendment 95 #
2021/2176(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Underlines that the considerable damages awarded by investment tribunals have imposed a significant financial burden on respondent states; points out that the use of valuation methods generally used by adjudicators is highly controversial owing to their very wide margin of discretion and reliance on highly complex and inherently speculative assumptions; invites the Commission to review the provisions governing compensation in EU IIAestablish transparency rules and safeguards in relation to the provisions governing compensation in EU IIAs; encourages the Commission to include in the negotiations on the Multilateral Investment Court the introduction of rules setting out in a transparent manner the compensation to be paid by states;
Amendment 100 #
2021/2176(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that the increasing recourse by investors to third parties to finance their litigation in exchange for a return in the outcome of an award (third-party funding) is adding incentives to increase the number of claims; invitestakes note of progress to make third-party funding for investor-state disputes more transparent, and calls on the Commission to support the restriction of third- party funding for investor-state disputes or even to propose measures to restrict this practice which encourages speculation on awards;
Amendment 103 #
2021/2176(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls Draws attention to the Menumber States to terminate or modernise anyof existing Member State bilateral investment treaties thatwhich contain ISDS, any treaties that contain protection standards beyond protection against direct expropriation, nationality-based discrimination or the gross denial of justice, and any treaties that protect fossil fueoutdated provisions and standards including overly broad protection standards, ISDS, and transparency provisions which fall below the modernised EU standard; Calls on the Member States to terminate their bilateral investment treaties or modernise them to bring them into line with the new approach set out in EU IIAs, including preparations to conduct future cases through the Multilateral iInvestments Court;
Amendment 109 #
2021/2176(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Points out that delays in Member State ratification of EU IIAs delays the replacement of BITs with transparent and modern provisions that equally protect all EU investors in third countries; calls on Member States to swiftly ratify concluded EU investment agreements; notes that continued delays in the entry into force of EU IIAs seek to undermine the credibility of the Union as an effective international actor;
Amendment 113 #
2021/2176(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls on the Commission to ensure that all of the Member States’ bilateral investment treaties are fully compatible with EU law; supports the Commission in strictly applying the conditions for authorising the negotiation, signature and conclusion of new agreements by Member States; including transparently demonstrating the compatibility of BIT provisions with minimum EU standards;
Amendment 123 #
2021/2176(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Points out that the ECT is the most litigated investment agreement in the world today; welcomes efforts to modernise the ECT and the EU’s position to exclude protection for most fossil fuel investments; emphasises that the reformed ECT should also include the addition of renewable/clean hydrogen to the list of protected energy materials; notes that investments considered ‘significantly harmful’ under the EU taxonomy would remain protected according to the EU’s position; underlines that amending the ECT requires unanimity of all contracting parties voting at the annual conference;
Amendment 131 #
2021/2176(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Urges the Commission to ensure that a revised ECT will immediately prohibit fossil fuel investors from suing contracting parties for pursuing policies to phase out fossil fuels in line with their commitments under the Paris Agreement; urges the Commission to ensure that in the revised ECT the investment protection is only granted to real investors and not to purely financial or speculative investors; calls on the Commission and the Member States to start preparing for the possibility of a coordinated exit from the ECT, including with an impact assessment to assess the potential effects of withdrawal, with a view to formal submission to the Council in the event of the negotiating objectives not being achieved by June 2022;
Amendment 137 #
2021/2176(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Welcomes the Court of Justice’s clarification that ISDS provisions in the ECT are not applicable in the case of intra- EU disputes; notes with concern that the Achmea ruling did not deter arbitration tribunals from continuing to hear intra-EU investment disputes; welcomes the recent declarations from the Commission and a majority of Member States reflecting the Achmea ruling; supports the request from several Member States for a ruling from the Court of Justice, and considers this should offer definitive clarification on the issue to prevent any future intra-EU arbitration being admissible under the ECT; urges the Commission to make its best efforts to assert these judgments in the existing intra EU arbitration proceedings;
Amendment 141 #
2021/2176(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Is concerned that many Contracting Parties seem not to share EU ambitions in the field of climate change mitigation, sustainable development and energy transition, despite the fact that all of them are also signatories of the Paris Agreement; urges the Commission to ensure the alignment of the ETC with the Paris Agreement and the objectives of the European Green Deal, while preserving the EU’s ability to develop public policy measures consistent with its commitment to become the first climate neutral continent by 2050;
Amendment 146 #
2021/2176(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that in the context of theSupports the ongoing negotiations in UNCITRAL Working Group III discussions,in which the EU and its Member States are pursuing the establishment of a standing mechanism to resolve investment disputes: the multilateral investment court; stresses, however,welcomes the global lead the EU is providing in these negotiations; notes that this proposal does not cover the modernisation of substantive protection standards; considers the institutional structure of the MIC should be a first step towards establishing binding interpretations and the reform and modernisation of substantive protection standards, including robustly protecting the right to regulate;
Amendment 150 #
2021/2176(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. CStrongly criticises the significant delay in the ratification and implementation of the UN Convention on Transparency in Treaty-based Investor- State Arbitration; calls on the Member States to adopt without delay the proposal for a Council decision on thefor its conclusion, on behalf of the EU, of the UN Convention on Transparency; points to recent rulings of the ECJ on exclusive and shared competences in Trelaty-based Investor- State Arbitraion to international treaty ratification which may offer guidance on unblocking the ratification of this Convention;
Amendment 159 #
Amendment 161 #
2021/2176(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Underlines the importance of maintaining, strengthening and implementing the clauses in the new EU IIAs that prohibit the lowering of standards, as they are critical to avoid a "race to the bottom" in countries attracting foreign investment; calls on the Commission to analyse their effectiveness further, in particular in developing countries, to ensure that tax policy and development finance are aligned to support a "race to the top"; notes that tax revenues are crucial for developing countries to provide basic public services; and urges the Commission to work at multilateral level to promote sustainable investment facilitation which is not pursued through competitive tax breaks among others by continuing its work on the Joint Initiative on Investment Facilitation for Development in the framework of the WTO that aims to increase the participation of developing and least-developed WTO members in global investment flows;
Amendment 164 #
2021/2176(INI)
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
22b. Is of the opinion that investment facilitation is a good instrument to improve the EU's competitiveness and economic growth; calls on the Commission to use this tool to strengthen the EU's strategic autonomy, in particular the energy, raw materials and semiconductor sectors, especially in the current geopolitical climate;
Amendment 11 #
2021/2076(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Stresses that NGEU is the firlargest EU common borrowing programme which not only grants loans to Member States, but also provides direct Union budget expenditure embedded in genuine EU programmes and policies; underlines that common Union debt managed by the Commission boosts the size, impact and added value of the Union budget, thereby supporting the post-COVID-19 recovery and delivering on long-term EU priorities;
Amendment 19 #
2021/2076(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Supports the diversifiedAcknowledges the funding strategy adopted by the Commission, offering a wide range of products (bonds and bills) and maturities (from three months to 30 years) through various issuance methods (syndicated transactions and auctions) and on a regular schedule;
Amendment 21 #
2021/2076(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Notes the Commission’s choice to rely on a large Primary Dealers’ Network (PDN), which are important partners in ensuring well-functioning primary and secondary markets and reporting to the Commission on market conditions; reminds the Commission of the importance to ensure that banks meet their legal requirements and to seek finding a better geographical balance both in the PDN membership and in the leadership of syndicated transactions; calls on the Commission to make sure that sufficient incentives and obligations are in place for PDN members to play their role; regrets that available information on fees paid to the Primary Dealers are not publicly known, together with a breakdown of all costs incurred by the Union in issuing debt;
Amendment 33 #
2021/2076(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Underlines that large volumes of EU-level debt might benefit the resilience of the euro area and of the EU capital markets; however underlines to fully reap the benefits of EU borrowing, NGEU should have to be made a permanent instrument and fully integrated in the EU budget so that it provides a long-term safe asset and benchmark yield curve;
Amendment 35 #
2021/2076(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7 b. Notes the high demand for and smooth integration of the EU’s debt on capital markets; calls on the Commission to consolidate the standing of EU debt by diversifying the investor profile, stimulating secondary markets and removing technical obstacles, such as the ECB’s purchase limitations and higher haircut applied to EU bonds over national sovereign bonds within its collateral framework; for transparency purposes further calls on the Commission to swiftly and systematically inform the European Parliament on all charges incurred in issuing EU debt;
Amendment 38 #
2021/2076(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Highlights, in particular, that the Union could setan be a benchmarks-setter and role model for sustainable and green investment as the largest global issuer of green bonds, as well as by diversifying its investor base and securing lower borrowing costs; stresses the important role of green bonds in financing assets needed for the low-carbon transition; welcomes that the Green Bond framework used by the Commission observes high sustainability standards; urges the Commission to ensure harmonisation of standards for green bonds issuance; at the same time, underlines the importance to prevent any kind of “greenwashing ” in the context of the issuance of green bonds and that the funds raised by green bonds should be fully allocated to projects which are entirely aligned with the EU taxonomy.
Amendment 40 #
2021/2076(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Notes that, despite its scale, NGEU has so far successfully mitigated the risk of crowding out demand for other European sovereign bonds; emphasises that, by making the Euro area sovereign market more attractive especially to non- EU investors, NGEU issuance may be impacting positively on demand for securities issued by other European market players; invites the Commission to continue coordinating closely with Member State debt agencies and with the ECB, the EIB and the ESM; regrets, however, that the Commission is not fully implementing the Capital Markets Union principles by spreading the trading of EU debt through other stock exchanges besides Luxembourg;
Amendment 45 #
2021/2076(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Argues further that NGEU is having a positive impact on the attractiveness and sustainability of Member State debts, by offering AAA- rated borrowing conditions to all Member States through RRF loans, having a significant lowering effect on sovereign yields and by discounting grants from the calculation of national debt as well as by conveying a strong message to financial markets about the resilience and cohesion of the Euro area and the EU; calls on the Commission to swiftly provide to the European Parliament disaggregated costs Member States incur on taking RRF Loans, and Commission’s charges to EURI as administrative costs;
Amendment 48 #
2021/2076(INI)
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8 c. Asks the Commission to develop instruments allowing EU citizens to have access to EU debt directly in primary market in a simple and transparent manner; notes that this practice already exists in several EU member states; believes that the economic benefits would be relevant and outweigh the implementation costs;
Amendment 54 #
2021/2076(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Notes with concern the steeply rising inflation interest rates that affect sovereign issuers; however recalls that the Commission has so far been issuing EU debt at very good interest rates and initial calculations for the costs of EURI repayment where made on the basis of various scenarios; cautions that the costs of funding have recently increased significantly due to the challenging market conditions and that massive uncertainties on the long-term interest landscape are expected; calls on the Commission to closely monitor the situation and to regularly inform the budgetary authority; acknowledges that the Commission evolves in a very uncertain market, outside of the 99% confidence interval; recalls that all payments of financial contributions to Member States should be made by 31 December 2026, as established under the EURI and RRF Regulations, but acknowledges that changes to this deadline could be needed; underlines that such change requires amending both the RRF and EURI regulations, accordingly;
Amendment 62 #
2021/2076(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Regrets the systematic creation and use of instruments, funds and common borrowing programmes, such as NGEU, outside of the EU Budget and without scrutiny or control of the Budgetary Authority; therefore, calls for the budgetisation of borrowing and lending operations and of all future EU programs or instruments; requests, in case they should nevertheless be created outside of the EU Budget that at least Parliament’s consent should be required;
Amendment 70 #
2021/2076(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. IUnderlines that with NGEU the EU’s borrowing and lending capacity has expanded considerably; insists on the need to involve the budgetary authority at all stages of this process; recalls that under the Own Resources Decision, the Commission is required to publish a regularly updated plan of expected principal and interest payments, to be discussed with Parliament and Council in the regular interinstitutional meetings on the topic of NGEUNGEU; notes that insofar annual debt limits and existing debt levels are defined solely by the Commission, side-lining the Budgetary Authorities; calls on the Commission to consider integrating in each annual budgetary cycle clear debt limits and limits on issued debt and to bring greater democratic accountability and scrutiny into the process;
Amendment 72 #
2021/2076(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Recalls its demand that the budgetary appropriations for the EURI repayment costs should be entered in the EU budget over and above the MFF ceilings, in order to safeguard the margins and flexibility mechanisms for their intended purposes; asks to make the pertinent modifications in the MFF regulation in the context of the MFF midterm revision;
Amendment 82 #
2021/2076(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Notes, however, that the estimated proceeds from these three own resources would not suffice to cover for the NGEU borrowing debt, in particular in the years from 2028 to 2032; calls, therefore, on the Commission to make a proposal for the second basket of new own resources before December 2023 in order to ensure sufficient resources for NGEU debt repayments, as agreed in the legally binding roadmap established under the Inter-Institutional Agreement; moreover, also in view of recent economic challenges, asks the Commission to reflect beyond and to be even more ambitious than under the already existing OR roadmap and not to exclude adding innovative, new and preferably genuine own resources to be proposed in the future, such as an EU solidarity tax, a wealth tax, a tax on cryptocurrencies or other revenues flowing into the EU budget, including revenues coming from EU borrowing or lending operations;
Amendment 83 #
2021/2076(INI)
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14 b. Notes that windfall profits from sectors that received EU funding and investments are not being taken into account to finance a sustainable and resilient social and economic EU recovery, notably from pharmaceutical and energy sectors; calls on the Commission to assess and inform the Budgetary Authority how windfall profits from such sectors can duly contribute to an European recovery and to mitigate crisis impact on people, households and SME’s and to follow this up with a concrete proposal; further calls on the Commission to consider including profit sharing clauses in its contracts;
Amendment 2 #
2021/2061(INI)
Motion for a resolution
Citation 2 a (new)
Citation 2 a (new)
– having regard to the Commission Communication of 27 May 2020 entitled ‘Europe’s moment: Repair and Prepare for the Next Generation’ (COM(2020)456),
Amendment 3 #
2021/2061(INI)
Motion for a resolution
Citation 2 b (new)
Citation 2 b (new)
– having regard to the Commission Staff Working Document of 27 May 2020 entitled ‘Identifying Europe’s recovery needs’ (COM(2020)456),
Amendment 4 #
2021/2061(INI)
Motion for a resolution
Citation 3 a (new)
Citation 3 a (new)
– having regard to its resolution of 6 June 2021 entitled ‘European Parliament’s Scrutiny on the ongoing assessment by the Commission and the Council of the national recovery and resilience plans’,
Amendment 7 #
2021/2061(INI)
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
– having regard to the Commission Communication of 4 March 2021 entitled ‘The European Pillar of Social Rights Action Plan’ (COM(2021)102),
Amendment 8 #
2021/2061(INI)
Motion for a resolution
Citation 7 b (new)
Citation 7 b (new)
– having regard to the Porto Social Commitment of 7 May 2021 of the Council, the Commission, the Parliament and social partners,
Amendment 10 #
2021/2061(INI)
Motion for a resolution
Citation 17 a (new)
Citation 17 a (new)
– having regard to the Commission Communication of 17 September 2020 entitled ‘Annual Sustainable Growth Strategy 2021’ (COM(2020)0575),
Amendment 11 #
2021/2061(INI)
Motion for a resolution
Citation 17 b (new)
Citation 17 b (new)
– having regard to the interinstitutional agreement of 16 December 2020 on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources (P9_TA- PROV(2020)0358),
Amendment 19 #
2021/2061(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the European Semester plays an essential role in coordinating economic, employment, social and budgetary policies in the Member States; notes that the Semester, has been expanded to include, among other aspects, issues related to the financial sector and taxation, as well as objectives of the UN SDGs; notes that in order to further strengthen economic and social resilience, the EU must deliver on the principles of the European Pillar of Social Rights;
Amendment 23 #
2021/2061(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States and it was temporarily adapted to coordinate it with the Recovery and Resilience Facility;
Amendment 24 #
2021/2061(INI)
Motion for a resolution
Recital B
Recital B
B. whereas according to the Commission’s Summer forecasts, the GDP growth rate for 2021 stands at 4.38 % of GDP per capita in the euro area andand for 2022 at 4.25 % in both the EU 27, and is expected to rise to 4.4 % respectieuro area; whereas differences across countries in the pace of the recovelry in 2022from the crisis remain substantial;
Amendment 37 #
2021/2061(INI)
Motion for a resolution
Recital E
Recital E
E. whereas unemployment rates decreasedthe European Union overall lost more than 3 million jobs in 2020 and unemployment rates increased in all Member States during the crisis; whereas young people have experienced the sharpest decline in employment; whereas unemployment rates decreased since last summer to an average rate of 8.4 % in the euro area and 7.6 % in the EU 27 in May 2021, and; whereas a further decrease to unemployment rates are only expected to fall below 2019 levels in three Member States; whereas in April 2021, the youth unemployment rate was 17.81 % and 7 % respectively is expected in 2022in the EU and 17.2 % which is higher than the pre-crisis levels;
Amendment 42 #
2021/2061(INI)
Motion for a resolution
Recital F
Recital F
F. whereas in 2020, Member States provided total fiscal support estimated at more than 6.5 % of GDP, and as a result, the euro area and EU aggregate government deficit increased from historically low levels of around 0.5 % of GDP in 2019 to around 7 % in 2020, which will inevitably be reflected in the aggregate debt levels; whereas the increase in the deficit is mainly due to the adoption of new or extended emergency support measures in response to the need for new restrictions to economic activity in the first part of the year 2021;
Amendment 44 #
2021/2061(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas the magnitude of COVID- 19-related emergency measures is sizeable, at an estimated 4 % of GDP in both 2020 and 2021 in the EU as a whole, including emergency spending for firms, workers and on health-care; the underlying fiscal stance for the EU is expected to be slightly expansionary in 2022, also thanks to the fiscal support from the expected acceleration in spending financed by RRF grants;
Amendment 53 #
2021/2061(INI)
Motion for a resolution
Recital H
Recital H
H. whereas reference values of up to 3 % of planned or actual government deficit and 60 % of debt to GDP are defined by the TFEU; whereas these reference values were established in the early 1990s under fundamentally different economic circumstances and they are not based on a scientific analysis of the debt sustainability of public budgets;
Amendment 58 #
2021/2061(INI)
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. Whereas the corporate income tax rate in the European Union has been reduced by more than half since 1980s, from 50 % in 1985 to 21 % now1a; _________________ 1a https://www.taxobservatory.eu
Amendment 60 #
2021/2061(INI)
Motion for a resolution
Recital H b (new)
Recital H b (new)
Hb. whereas the EU is estimated to lose between €160 and €190 billion each year due to corporate tax avoidance2a; _________________ 2a https://www.europarl.europa.eu/RegData/ etudes/STUD/2016/558776/EPRS_STU(2 016)558776_EN.pdf
Amendment 61 #
2021/2061(INI)
Motion for a resolution
Recital H c (new)
Recital H c (new)
Hc. whereas a minimum effective tax rate of 21 % could help EU governments get an additional revenue of some €100 billion per year; whereas this would decrease to some €50 billion for a minimum rate of 15 %3a; _________________ 3a https://www.taxobservatory.eu/wp- content/uploads/2021/07/TaxObservatory _Report_Tax_Deficit_July2021_Revised.p df
Amendment 62 #
2021/2061(INI)
Motion for a resolution
Recital H d (new)
Recital H d (new)
Hd. whereas the ECB predicted that a lack of action on climate change could reduce Europe’s GDP in the long-term by some 20pp; whereas such a reduction in growth rates would imply huge human cost and be detrimental to the long-term sustainability of public finances in the Euro zone4a; _________________ 4a https://www.ecb.europa.eu/pub/pdf/other/ ecb.climateriskfinancialstability202107~8 7822fae81.en.pdf
Amendment 64 #
2021/2061(INI)
Motion for a resolution
Recital I
Recital I
I. whereas aspects relating to the possible future of the EU economic governance framework were dealt with by the review of the macroeconomic legislative framework in the report of the Committee on Economic and Monetary AffairsEuropean Parliament of 228 Junely 2021 dedicated to that issue;
Amendment 65 #
2021/2061(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas the recovery and resilience plans adopted by the Member States will encompass their national agenda of reforms and investments designed in line with the EU policy objectives, centred on policy areas: green transition; digital transformation; smart, sustainable and inclusive growth; social and territorial cohesion; health, economic, social and institutional resilience; policies for the next generation, children and youth;
Amendment 67 #
2021/2061(INI)
Motion for a resolution
Recital I b (new)
Recital I b (new)
Ib. whereas the crisis resulted in increasing social, territorial, and economic and gender based inequalities;
Amendment 68 #
2021/2061(INI)
Motion for a resolution
Recital I c (new)
Recital I c (new)
Ic. whereas the Union and its Member States have committed to the Treaty-based fundamental values, the implementation of the UN 2030 Agenda, the European Pillar of Social Rights (EPSR) and the Paris Climate Agreement;
Amendment 69 #
2021/2061(INI)
Motion for a resolution
Recital I d (new)
Recital I d (new)
Id. whereas during the Porto Social Summit held on 7 and 8 May 2021, the EU’s leaders recognised the European Pillar of Social Rights as a fundamental element of the recovery and whereas in the Porto declaration they underlined their determination to continue deepening its implementation at EU and national level;
Amendment 87 #
2021/2061(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Points out that the roll-out of the Recovery and Resilience Facility (RRF) will help to make EU economies and societies more sustainable, inclusive, resilient and better prepared for the just, green and digital transitions, foster economic, social and territorial cohesion, bring convergence and help the Member States to mitigate the economic and social impact of the crisis; notes that the facility, which is the centrepiece of NextGenerationEU, will provide large- scale financial support to Member States of up to EUR 672.5 billion in grants and loans to finance reforms and investments;
Amendment 105 #
Amendment 120 #
2021/2061(INI)
5a. Is of the opinion that the review of the EU economic governance framework is necessary; agrees with the European Fiscal Board (EFB) on the importance of having a clear pathway towards a reviewed fiscal framework, preferably prior to the deactivation of the general escape clause;
Amendment 130 #
2021/2061(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Is concernedNotes that according to the baseline scenario of the Commission’s latest Debt Sustainability Monitor, the debt ratio in the euro area is to peak at 104.6 % in 2024 and 2025, while the debt ratio in the Union is to peak at 96.5 % in 2024, before declining once again;
Amendment 137 #
2021/2061(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Is convinced that coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance, taking into account national budgets and the RRF, should remain supportive in 2021 and 2022as long as necessary;
Amendment 150 #
2021/2061(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted, and that a premature withdrawal of fiscal support should be avoided; further highlights the expectation that economic activity will gradually normalise in the second half of 2021, depending on the further evolution of the pandemic, and agrees that Member States’ fiscal policies should become more differentiated in 2022, duly taking into account the state of the recovery, fiscal sustainability and the need to reduce economic, social and territorial divergences;
Amendment 154 #
2021/2061(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Underlines that fiscal responsibility can be achieved not only by imposing limits to spending, but also by increasing revenues for government; supports governments’ efforts to increase revenues through the closing of loopholes for tax avoidance and the increasing of capital-gains, wealth and corporate income taxes;
Amendment 164 #
2021/2061(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that Member States with high debt should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscal policyresponsible fiscal and sustainable policies without prejudice to social equity and Article 9 TFEU; stresses the importance of the Member States using the potential of the RFF to support the necessary structural changes in order to accelerate the transition to a more sustainable, resilient and socially inclusive EU and the transformation to more globally competitive, future-proof, agile industries; agrees that as the growth of nationally financed current expenditure should be kept under control and bpublic health situation normalises and restrictions affecting economic activity are limifted for, Member States with high debtcan start phasing out the underlying fiscal stance, allowing fiscal measures to maximise support to the recovery without pre- empting future fiscal trajectories and creating a permanent burden on public finances;
Amendment 186 #
2021/2061(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Stresses that responsible fiscal and sustainable policies are a tool to achieve the overarching EU priorities as enshrined in the treaties: sustainable development based on balanced economic growth and price stability, a highly competitive social market economy aiming at full employment and social progress, a high level of protection and improvement of the quality of the environment;
Amendment 189 #
2021/2061(INI)
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12b. Calls on the Commission and the Council to ensure that gender equality and equal opportunities for all, and the mainstreaming of those objectives, are addressed in the country-specific recommendations and taken into account and promoted throughout the preparation and implementation of recovery and resilience plans;
Amendment 190 #
2021/2061(INI)
Motion for a resolution
Subheading 2
Subheading 2
Socially balanced, inclusive and sustainable structural reforms and, investment and public revenues
Amendment 191 #
2021/2061(INI)
Motion for a resolution
Paragraph -13 (new)
Paragraph -13 (new)
-13. Considers that coordinating national investment and reform efforts will be crucial to increase convergence and resilience, to promote sustainable and inclusive growth and to improve institutional frameworks;
Amendment 193 #
2021/2061(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key structural challenges and investment needs, while embracing the green and digital transitions; and welcomes that the recovery plans are based on priority criteria as set out in the Regulation on Establishing a Recovery and Resilience Facility, namely for the green transition, digital transformation, smart, sustainable and inclusive growth, social and territorial cohesion, health, economic, social and institutional resilience and policies for the next generation, children and the youth;
Amendment 196 #
2021/2061(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key structural challenges and investment needs, while embracing the green and digital transitions; stresses that restoring the growth potential will be a key element for the structural transformations needed to adapt to the challenges;
Amendment 201 #
2021/2061(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Stresses that the recovery efforts must go hand in hand with a lasting increase of public and private investment beyond the RRF in order to be able to address current and future challenges and to achieve the EU policy objectives; recalls the investment gap estimated by the Commission in 2020 for the EU of more than 600 billion annually; Is concerned about the assessment of the European Fiscal Board on the low level of investment pre-crisis and the consequently limited recovery of investment in some countries;
Amendment 214 #
2021/2061(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls for a focus on fiscal structural reforms, including reforms enhancing efficient spending,structural reforms that enhance efficient government spending, including the quality and efficiency of the financial administration and acknowledges that high-quality public finance resource management is crucial;
Amendment 217 #
2021/2061(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Underlines that public revenues are essential to ensure the sustainability of Member States public finances; considers it therefore necessary to subject the level of taxes and duties in the Member States to greater European coordination to avoid tax competition and to ensure that necessary government spending, whether for consumption or investment, is financed by regular revenues, except if these sources of revenue are insufficient due to a crisis or if additional growth-generating expenditure is to be financed;
Amendment 221 #
2021/2061(INI)
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14b. Recalls in this context, that taxation is one of the key policies monitored through the European Semester towards fairer and more growth- friendly tax systems; calls on the Council and its Member States to implement the recommendations in terms of addressing national measures to fight aggressive tax planning, tax evasion and tax avoidance or ineffective anti-money laundering measures;
Amendment 228 #
2021/2061(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the fact that the updated New European Industrial Strategy, the European Digital Strategy, the European Green Deal and all the other relevant strategies set out the framework for speeding up Europe’s recovery and transition towards a cleaner, more digital, and more resilient economic and industrial model, as well as for building a stronger and more resilient single market;
Amendment 231 #
2021/2061(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Worries that without a concerted effort to invest in the transition to a sustainable economy, European economies will suffer long-lasting damage, undermining any efforts to promote sustainable fiscal policies; strongly supports the incentivising of sustainable investments by sovereigns, including through the EU Green Bond Standard;
Amendment 236 #
2021/2061(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Highlights that tackling structural challenges is crucial for a sustainable recovery and continued growth, and that implementing reforms to address structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges but also to accomplishing the twin transitions in a sustainable and fair manner; and reduce social inequalities; notes that in order to further strengthen economic and social resilience, the EU must deliver on the principles of the European Pillar of Social Rights, the Sustainable Development Goals and the European Green Deal;
Amendment 239 #
2021/2061(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Is convinced that building a resilient economy calls for reinforcing the social dimension of European governance, aiming at providing adequate protection to all people as well as to promote efficient social and healthcare systems for everyone;
Amendment 241 #
2021/2061(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Is concerned that the Commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 Member States; is particularly worried that the nature and source of Member States’ imbalances remain largely the same as prior to the pandemic and that the pandemic could also be exacerbating economic divergences; notes the vulnerabilities in the financial sector as a result of the pandemic and calls on the Commission to pay close attention to national actions in relation to macro-financial stability, notably the risks of financial spillovers in the euro area; calls on the Member States to take advantage of the unprecedented opportunity provided by the RRF to significantly reduce existing macroeconomic imbalances;
Amendment 250 #
2021/2061(INI)
Motion for a resolution
Subheading 3
Subheading 3
European Semester and Country-specific recommendations (CSRs)
Amendment 252 #
2021/2061(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
Amendment 258 #
2021/2061(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Recalls that Member States, in their recovery and resilience plans, are required to effectively address all or a significant subset of challenges identified in the relevant CSRs, including the fiscal aspects thereof, and that beyond the scope of the RRF, those recommendations that are not addressed remain valid and will continue to be monitored under the European Semester framework; will continue to be monitored under the European Semester framework; Underlines, however, that the 2019 pre- pandemic CSRs should be interpreted in the light of the current crisis and the new challenges to ensure coherence between them, the 2020 CSRs and the general and specific objectives of the RRF regulation, and that future CSRs should not contradict the objectives of the RRF;
Amendment 263 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Recognises the role that the Commission has allotted to the European Semester in the Recovery Plan and its importance for policy coordination at EU level; stresses, however, that the effectiveness and success of the alignment of Member States’ investment and reform programmes will depend on the review of the Semester and, according to the outcome, its adaptation as well as the increased ownership by the Member States of the implementation of the CSRs;
Amendment 264 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Acknowledges that climate change risks within and across countries are macro-critical threats to financial and fiscal systems and considers that macro- critical aspects of climate change need to be incorporated into EU enhanced surveillance; calls on the Commission, in this regards, to monitor in particular cross-border spillovers risks;
Amendment 266 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19b. Considers that the adaptation of the European Semester to coordinate the Recovery and Resilience Facility gives the former more credibility and ownership; further considers that National Recovery and Resilience plans should effectively address challenges identified in the European Semester; stresses that the framework of the RRF in terms of its structure, function and governance addresses many of the previous shortcomings indicated by Members States; considers that the disbursement of RRF funding and their approval process, with a more active role of the European Parliament, will create a more dynamic political process based on incentives- approach in contrast with the current system;
Amendment 268 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19b. Highlights that the RFF exercise is also an unprecedented opportunity for the Commission and the Member States to learn from and improve the mechanisms driving the economic governance framework especially when it comes to the underlying political guidelines, cooperation between the institutions and increased ownership of the Member States developing the national reform programmes and implementing structural reforms;
Amendment 269 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 c (new)
Paragraph 19 c (new)
19c. Believes that the renewed and simplified EU Semester could profit from the lessons learned from the RRF process in regards to establish a more transparent and democratic coordination process when it comes to defining the guiding principles/policy objectives of the European Semester and the CSRs with full involvement of the European Parliament and the Member States as well as in regards to the reciprocal process between Commission and the Member States in developing the needed reforms and investment to achieve those policy objectives; therefore, calls on the Commission to closely assess the RRF exercise and draw conclusions for the review and adaptation of the European Semester cycle and the CSRs;
Amendment 270 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 c (new)
Paragraph 19 c (new)
19c. Calls on the Commission to align the 2022 European Semester cycle with the monitoring and implementation of the Recovery and Resiliency Facility; notes that according to the RRF Regulation, Member States should report twice a year in the context of the European Semester on the progress made in the achievement of the recovery and resilience plan and the Commission shall provide an annual report to the European Parliament and the Council on the implementation of the Facility; calls on, in this regard, to assess how the current European Semester tools such as the Country-Reports and In-depth Reviews could be adapted in order to ensure a true value added in the Semester process;
Amendment 274 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 d (new)
Paragraph 19 d (new)
19d. Recalls Member States on the possibility to request technical support under the Technical Support Instrument;
Amendment 275 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 e (new)
Paragraph 19 e (new)
19e. Calls on the Commission and the Member States to enhance the social dialogue;
Amendment 276 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 f (new)
Paragraph 19 f (new)
19f. Is concerned about the heavy administrative burden resulting from the twin processes of the RRF and the European Semester and asks the Commission to review the interlinkage and come forward with a streamlined approach; invites the Commission, moreover, to reassess if annually published CSRs fulfil the purpose to properly evaluate the need for and monitor structural reforms that are mostly implemented over a longer period of time;
Amendment 277 #
2021/2061(INI)
Motion for a resolution
Paragraph 19 g (new)
Paragraph 19 g (new)
19g. Stresses the importance of the Macroeconomic Imbalance Procedure (MIP) in detecting, preventing and addressing macroeconomic imbalances in the EU, however, agrees to the findings of the European Court of Auditors* that its potential has not been fully exploited in such a way as to ensure the effective prevention and correction of imbalances; therefore, agrees that the surveillance under the Macroeconomic Imbalances Procedure in the new EU Semester cycle will need to be adapted and simplified taking into consideration the outcome of the review of the economic framework; *Special Report No 03/2018: Audit of the Macroeconomic Imbalance Procedure (MIP), European Court of Auditors.
Amendment 280 #
2021/2061(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 285 #
2021/2061(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Welcomes the DG ECFIN’s initiatives and ongoing reflection on the idea of an alternative set of indicators to measure economic, social and environmental progress, supplementing GDP as a welfare measure for inclusive and sustainable growth; is convinced that the EU policy objectives have to be reflected as well in terms of new measurements and granular performance indicators for progress; highlights in this respect the advanced statistical standards and the development of concepts and methods on international level, such as the beyond GDP framework of the OECD and the United Nations; urges the Commission to follow these international standards and integrate this approach in the EU economic governance framework;
Amendment 290 #
2021/2061(INI)
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20b. Calls for the Social Scoreboard of the European Pillar of Social Rights (EPSR) to be fully taken into account for the purposes of monitoring Member States´ performance in relation to the EPSR´s principles; takes note of the Commission initiative in confirming that the revised Social Scoreboard will be part of the policy coordination framework in the context of the European Semester; takes notes that the EU leaders welcomed the European Social Partners joint proposal for an alternative set of indicators to measure economic, social and environmental progress, supplementing GDP as welfare measure for inclusive and sustainable growth; calls for better reflecting scoreboards in policy recommendations;
Amendment 6 #
2021/2038(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Identifies trade policy as a strategic geopolitical tool for the transatlantic agenda; highlights the need to identify joint actions based on shared interests and values in order to contribute to a global sustainable and inclusive economic recovery; stresses that ‘workers and wages’ and more resilient and responsible supply chains should be at the core of such an agenda; in this regard encourages both sides to design similar tools to ban forced labour and exploitative labour conditions and to cooperate on improving respect for workers' rights and environmental standards in trade agreements including by building on each other's experience to enforce these provisions more efficiently; encourages both sides to join forces in promoting human rights, environmental and workers' rights also at the multilateral level;
Amendment 19 #
2021/2038(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes the US support for the new Director-General of the WTO, the US’s return to the Paris Agreement, the WTO tariff rate quota agreement and, the temporary suspension of Airbus Boeing tariffs, the announcement to start discussions to address global steel and aluminum excess capacity as well as the US willingness to engage in discussions on a potential TRIPS waiver;
Amendment 30 #
2021/2038(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Recognises at the same time that some diverging interests remain; in this regard, urges both sides to resolve bilateral disputes; urges the US to remove unilateral trade measures and refrain from taking further ones; urges the removal of section 232 tariffs on steel and aluminium; calls for a rapid and lasting solution on aircraft subsidies; calls for the suspension of announced trade retaliation on economic sectors such as footwear in Member States that have implemented a Digital Services Tax (DST) while negotiations are ongoing in the OECD framework; expects both sides to address the EU's concerns regarding the US Buy American Act and the Jones Act;
Amendment 43 #
2021/2038(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls for enhanced cooperation on WTO reform, including reinstating the appellate body,the reform of its 3 core functions which entails reforming and reinstating the appellate body as well as reinforcing the monitoring and deliberative function among others by making sure open plurilateral agreements can be included; urges both sides to cooperate on regulating trade in health products, setting an ambitious environmental agenda, and agreeingmong others by relaunching the negotiations on the Environmental Goods Agreement; expects both sides to agree on concrete deliverables for the 12th WTO Ministerial Conference (MC12); encourage including an agreement on fisheries, a declaration on trade and health, a work programme for reform of the dispute settlement system, a work programme on industrial subsidies and state owned enterprises as well as substantial progress on e-commerce negotiations; encourages both sides to update WTO rules on state owned enterprises, industrial subsidies and overcapacity as well as technology transfer to efficiently address the challenges posed by China: in this regard also supports expanding the trilateral initiative with Japan; expects both sides to stick to multilateral agreements;
Amendment 59 #
2021/2038(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Advocates, wherever possible, a joint strategic approach towards China, addressing the roots of unfair trade practices and tackling industrial subsidies, state-owned enterprises and human rights concerns by including a discussion on the US phase one agreement with China and the EU's CAI;
Amendment 69 #
2021/2038(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls on both sides to use trade as a mean to fight climate change and achieve upward convergence; in this regard urges both sides to cooperate on pricing carbon and in particular to coordinate on the development of a carbon border adjustment mechanism;
Amendment 71 #
2021/2038(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Advocates a joint approach on tackling the COVID-19 crisis among others by increasing the availability and affordability of vaccines; in this regard calls on both sides to refrain from any export restricting measures, enhance production capacity, ensure the proper functioning of supply chains and engage constructively on a potential TRIPS waiver; encourages both sides to increase regulatory cooperation to facilitate essential access to medicines.
Amendment 90 #
2021/2038(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Encourages both sides to find a framework for joint action and look for selective agreements via the relaunch of a high-level strategic dialogue; calls for a stronger regulatory, green and digital partnership through the Trade and Technology Council and; calls for a coordinated approach to critical technologies, a carbon border adjustment mechanism ands well as to digital and global taxes.
Amendment 96 #
2021/2038(INI)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Calls for a continued and enhanced transatlantic parliamentary dimension on trade including within the framework of the Transatlantic Legislators' Dialogue; calls more specifically for the establishment of a sub- committee on Trade & Technology within the Transatlantic Legislators' Dialogue to complement the executive part of the Trade & Technology Council and to exercise democratic control thereof;
Amendment 101 #
2021/2038(INI)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Urges the Commission, as common practice, to be transparent in its cooperation with the United States among others by publishing all proposals that are sent to the United States as well as by guaranteeing the involvement of the European Parliament and civil society in the development of these proposals so as to enhance consumers' and citizens' trust;
Amendment 1 #
2021/2037(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Notes that in 2020 China for the first time ranked as the EU’s largest partner for trade in goods, with the trade balance further deteriorating to the EU’s detriment; the volume of trade between China and the EU will require, in the medium term, a framework of agreements of which the GI and the CAI are only two first steps; for any broader agreement to be possible in the future, China must show full respect to the values in which the EU is based, and it must include an instance of democratic control where the European Parliament must develop its competences.
Amendment 14 #
2021/2037(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Is convinced that the EU-China bilateral trade and investment relationship is of strategic importance and should be rules-based, with the multilateral trading system at its core; calls on the Commission and China to closely cooperate to reform the WTO rulebook to make the organization more flexible and fit for the challenges of the 21st century, in order to contribute to a more sustainable development, and promote the green transition and digital revolution; expects China to match its economic weight to its international obligations and restore a level playing field by addressing industrial subsidies, SOEs and overcapacity , forced technology transfer public procurement and intellectual property.
Amendment 26 #
2021/2037(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Is concerned about the increasingly unbalanced EU-China bilateral economic and trade relationship; stresses that rebalancing and a more level playing field are vital to EU interests; China and the EU must build a level playing field and a fruitful relationship, despite the differences between both economic systems; for that, the Union must complete its range of autonomous instruments: (screening of foreign direct investments; export of double use technology; state subsidies; access to public procurement; protection in front of coercive measures form third countries); and China must consider the need to meet European standards in aspect related to Trade, especially in the area of human rights and working conditions.
Amendment 43 #
2021/2037(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Is concerned about the emerging practice of Chinese courts claiming worldwide jurisdiction over the determination of fair, reasonable and non-discriminatory licencing terms for standard essential patents, and barring companies from challenging their decisions; underlines that this practice amounts to allowing Chinese companies not to pay a fair price for the use of standard essential patents and endangers European research; asks the Commission to engage with the Chinese authorities on this matter;
Amendment 44 #
2021/2037(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Urges the Chinese Government to ratify and implement ILO Convention n°29 on Forced Labour, ILO Convention n°105 on the Abolition of Forced Labour, ILO Convention n°87 on Freedom of Association and Protection of the Right to Organize and ILO Convention n°98 on the Right to Organize and to Collective Bargaining; urges China to ratify the International Covenant on Civil and Political Rights;
Amendment 51 #
2021/2037(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Highlights that counterfeit is a top priority for EU’s efforts in intellectual property protection; is concerned that China remains at the origin of a dominant share of counterfeit and pirated goods arriving in the EU, in terms of both value and volume; underlines how the agreement on GIs represents a first step in the fight against counterfeit and urges the European Commission to increase the efforts to protect EU's intellectual property;
Amendment 67 #
2021/2037(INI)
5. Welcomes the conclusion at the political level of the EU-China Comprehensive Agreement on Investment (CAI); recalls that the CAI has to be considered in the context of a strengthened EU toolbox of unilateral measures; underlines it will thoroughly scrutinise the agreement, including its sustainable development section, and take stock of the human rights context, before determining its position;; reiterates its most serious concern about the various abuses of human rights in China, and recalls that full respect of universal values, despite the differences between both systems is essential; takes the position that the ratification of the EU-China Comprehensive Agreement on Investment (CAI), by the European Parliament, is suspended until the Chinese retaliatory sanctions are lifted.
Amendment 100 #
2021/2037(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Considers it necessary to conclude a Bilateral Investment Agreement with Taiwan
Amendment 1 #
2021/2010(INI)
Motion for a resolution
Citation 1
Citation 1
— having regard to Articles 113, 115 and 1156 of the Treaty on the Functioning of the European Union (TFEU),
Amendment 3 #
2021/2010(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the Interinstitutional Agreement on budgetary cooperation of 16 December 2020 (IIA) and recalls the legally binding commitment towardsbetween the European Parliament, the Council and the Commission on budgetary discipline on cooperation in budgetary matter and on sound financial management, as well as on new own resources, including a roadmap for the introduction of a basket of new own resources of 16 December 2020 (IIA) and recalls the legally binding commitment towards the presentation of a legislative proposal by the Commission by June 2021 and the introduction of an EU digital levy as an own resource by 1 January 2023;
Amendment 4 #
2021/2010(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Insists on the timely implementation of the roadmap towards the introduction of new own resources as agreed in the Interinstitutional Agreement in December 2020 and will not accept any delay by the Commission and Council;
Amendment 7 #
2021/2010(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Regrets that the OECD’s failure to find consensus on digital taxation by the end of 2020 as planned; has prolonged the under-taxation of the digital economy; on one side underlines the importance of the progress of the negotiations at the G20/OECD IF so to find a global consensus on digital taxation, on the other side insists that the EU should stand ready to roll out its own solutions for taxing the digital economy by the end of 2021, thus becoming a “standard setter” in this field, and guiding the OECD principles and discussion;
Amendment 14 #
2021/2010(INI)
Motion for a resolution
Citation 18 a (new)
Citation 18 a (new)
— having regard to the ongoing work of the United Nations Committee of Experts on International Cooperation in Tax Matters on Tax Consequences of the Digitalized Economy,
Amendment 15 #
2021/2010(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Stresses that the IIA binds the Council, Parliament and the Commission to irreversibly move forward with an EU digital levy that will enter the long-term EU budget as an own resource and a long- term stable source of income, while restoring the EU budget and alleviating the fiscal pressure on national treasuries and EU citizens; underlines that, irrespective of whether the ground rules will be determined at OECD or EU level, revenues generated by digital taxation in the Member States will become an own resource;
Amendment 17 #
2021/2010(INI)
Motion for a resolution
Recital A
Recital A
A. whereas current international corporate tax rules are based on principles which were developed in the early 20th century and are no longer suited to an increasingly globalised and digitalised economy, thus enabling several harmful tax practices that undermine public finances and fair competition;
Amendment 19 #
2021/2010(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Points out that the current tax rules no longer fit the modern global, digital, ecological and, societal demands in favour of fair taxation; underlines that the COVID 19 social and economic crisis boosts the digital transformation process, but reveals its losers and winners at the same time; in the current extremely difficult context, stresses that digital and digitalised multinational companies shall contribute to the social and economic recovery; therefore, underlines the need to reform and modernize the current tax system so to ensure a fair share to society from the digital economy and reinforce the sustainability of public finances in the long run;
Amendment 23 #
2021/2010(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the BEPS Action Plan succeedmanaged into establishing a global consensus on many issues in order to fight tax evasion, aggressive tax planning and tax avoidance; whereas, however, there was no agreement on addressing the tax challenges arising from the digitalisation of the economy, which led to the adoption of the separate BEPS Action 1 – 2015 Final Report;
Amendment 24 #
2021/2010(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Reiterates that the EU digital levy will counter tax base erosion, ensure a level playing field and improve tax fairness by capturing mobile basesrestore tax fairness by capturing mobile bases, counter tax base erosion and avoidance, aggressive tax planning and ensure a level playing field, while improving the EU citizens trust in the system; considers that its revenues would be intricately linked to the open borders of the single market and the ‘digital Union’;
Amendment 29 #
2021/2010(INI)
Motion for a resolution
Recital E
Recital E
E. whereas the Commission put forward two proposals on the taxation of the digital economy in 2018, including a temporary short-term solution introducing a digital services tax (DST), and a long- term solution defining a significant digital presence (SDP) as a nexus for corporate taxation which should replace the DST; whereas Parliament supported these proposals, but they were not adopted in the Council because Member States could not reach the unanimous agreement needed in the realm of taxation at EU level;
Amendment 30 #
2021/2010(INI)
Motion for a resolution
Recital F
Recital F
F. whereas, in accordance with a mandate given by G20 Finance Ministers in March 2017 and following the adoption of a Programme of Work (PoW) in May 2019, the OECD/G20 Inclusive Framework on BEPS (IF), through its Task Force on the Digital Economy, has been working on a consensus-based global solution based on two pillars: Pillar One on the allocation of taxing rights through new profit allocation and nexus rules and Pillar Two on addressing the remaining BEPS issues and introducing measures to ensure a minimum effective level of tax;
Amendment 33 #
2021/2010(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Maintains that the EU digital levy will be part of a basket of new own resources whose proceeds will be at least sufficient to cover, through the long-term EU budget, the future repayment costs of(principal and interests) arising from the EU Recovery Instrument’s grants component, expected to be around EUR 15 billion per year on average and EUR 29.25 billion maximum per year from 2028 until 2058, while avoiding a reduction in expenditure for EU programmes, in compliance with the principle of universality of the EU budget; notes that the revenue is estimated to be in the range of several billion euros to several tens of billions of euros depending on, among other factors, the taxable revenues, the taxable entity, the place of taxation, the calculation and the rate of tax;
Amendment 38 #
2021/2010(INI)
Motion for a resolution
Recital I
Recital I
I. whereas adequate international tax laws are a key forto prevent tax evasion and tax avoidance practices, and to design a fair and efficient taxation system addressing inequality and ensuring certainty and stability, which are prerequisites for competitiveness, as well as for a level playing field between companies, especially for small and medium-sized enterprises;
Amendment 41 #
2021/2010(INI)
Motion for a resolution
Recital I a (new)
Recital I a (new)
I a. whereas the Interinstitutional Agreement on budgetary cooperation of 16 December 2020 (IIA) refers to a legally binding commitment towards the introduction of an EU digital levy as an own resource by 1 January 2023;
Amendment 42 #
2021/2010(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Recalls that any surplus from the repayment plan shall continue to serve the EU budget as general revenue;
Amendment 43 #
2021/2010(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
Amendment 44 #
2021/2010(INI)
Motion for a resolution
Recital I b (new)
Recital I b (new)
I b. whereas the Council Conclusions of 27 November state that the European Council will ‘assess the situation regarding the work on the important issue of digital taxation’ in March 2021;
Amendment 46 #
2021/2010(INI)
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Reiterates that the introduction of a basket of new own resources, as provided for in the Roadmap towards the introduction of New Own Resources under the IIA, could facilitate a better focus of expenditure at Union level on priority areas and common public goods with high efficiency gains compared to national spending;
Amendment 47 #
2021/2010(INI)
Motion for a resolution
Recital I c (new)
Recital I c (new)
I c. whereas G20 Finance Ministers will meet on 7-8 April 2021 and 9-10 July 2021 and take stock of the negotiations of the Inclusive Framework on both Pillars of the international negotiations;
Amendment 50 #
2021/2010(INI)
Draft opinion
Paragraph 5 d (new)
Paragraph 5 d (new)
5 d. Reaffirms its position concerning the collecting costs, which should be set at 10% of their original rate and warns about any amount that works against the EU budget and the repayment of the EU’s debts;
Amendment 50 #
2021/2010(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes that the current international tax rules date back to the early 20th century, and that taxing rights are mainly based on the physical presence of companies; points out that digitalised companies as well as companies relying heavily on intangible assets can engage in significant business activities in a jurisdiction without physical presence there, and therefore taxes paid in one jurisdiction no longer reflect the value and profits created there; regrets that the traditional concept of permanent establishment fails to cover the new aspects of digital businesses, and underlines the need to define, which can lead to Base Erosion and Profit Shifting; in that context, calls for new and fairer allocation of taxing rights for large multinationals and the revision of the traditional concept of permanent establishment, and recalls the Parliament’s position on the C(C)CTB to create a virtual permanent establishment; stresses that users of online platforms and consumers of digital services cannot be shifted outside a jurisdiction in the same way as capital and labour, and should therefore be the basis for taken into account when definition ofng a new tax nexus in order to provideing an effective remedy against aggressive tax planning;
Amendment 53 #
2021/2010(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Urges the Commission to incorporate Parliament’s position when preparing the legislative proposal for an EU digital levy as an own resource and calls on the Council to swiftly adopt the proposal in line with the agreed roadmap.
Amendment 77 #
2021/2010(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Highlights the need to address the under-taxation of the digitalised economy, while ensuring a fair distribution of taxing rights among all countries where the value creation of multinational digital companies takes place;
Amendment 82 #
2021/2010(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that, on average, digital business models face significantly lower effective tax rates than traditional business models which rely on physical presence; regrets that tax avoidance linked to aggressive tax planning is not only detrimental to the collection of public revenues but also puts businesses, especially SMEs, at a disadvantage, while creating barriers for new local entrant, which hampers public services and shifs the tax burden towards the average citizen, thus creating more inequalities, but also puts businesses, especially SMEs, at a disadvantage, while creating barriers for new local entrants; highlights that in the meantime, the demand for digitalised services has exploded due to the obligation to operate many tasks remotely in the COVID-19 context; therefore observes that providers of such digitalised services will be among the economic winners of the pandemic crisis;
Amendment 83 #
2021/2010(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that on average digital business models face significantly lower effective tax rates than traditional business models which rely on physical presence; regrets that tax avoidance linked to aggressive tax planning is not only detrimental to the collection of public revenues but, which contributes to reducing income inequality and financing public services, and also puts businesses, especially SMEs, at a disadvantage, while creating barriers for new local entrants; highlights that in the meantime, the demand for digitalised services has exploded due to the obligation to operate many tasks remotely in the COVID-19 context; therefore observes that providers of such digitalised services will be among the economic winners of the pandemic crisis;
Amendment 98 #
2021/2010(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. WCalls for an international agreement aiming for a fair and effective tax system; welcomes the efforts in the G20/OECD IF to reach a global consensus on a multilateral reform of the international tax system to address the challenges of the digitalised economy; acknowledges the progress of discussions on the proposals at technical level, despite the delays caused by the COVID-19 pandemic, and calls for a swift agreement by mid-2021; highlights the value of the G20/OECD IF for guaranteeing multilateral solutions and finding support at the global and EU level;
Amendment 131 #
2021/2010(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. WelcomNotes the proposal of a dispute prevention and resolution mechanism but underlines that tax certainty is best achieved by establishing simple, clear and harmonised rules that prevent disputes in the first place; highlights that any dispute prevention and resolution mechanism should not put developing countries at a disadvantage;
Amendment 147 #
2021/2010(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Regrets that the failure of the G20/OECD IF to find a solution in October 2020 willhas prolonged the under-taxation of the digital economy; stresses that the COVID 19 pandemic has largely benefited digital businesses and accelerated the transition to a digitalised economy, thereby re-emphasising the need to reform the current tax system in order to ensure a fair contribution from the digitalised economy;
Amendment 153 #
2021/2010(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Insists therefore that, regardless of the progress of the negotiations at the G20/OECD IF, the EU should stand ready to roll out its own solutions for taxing the digitalised economy by the end of 2021; calls on the Commission to present proposals by June 2021, while anticipating their compatibility with the reform by the G20/OECD IF to be agreed on; stresses the need to create a level playing field for providers of traditional services and automated digitalised services and consumer facing businesses in the EU by ensuring that the latter are taxed at an adequatewhere they make profits and at a fair rate; invites the Commission to consider in particular introducing a temporary European Digital Services Tax as a necessary first step; calls for the EU to implement the future outcome of the international negotiations in a harmonised way and invites the Commission to issue any relevant Proposal to that effect;
Amendment 156 #
2021/2010(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Insists therefore that, regardless of the progress of the negotiations at the G20/OECD IF, the EU should stand ready to roll out its own solutions for taxing the digitalised economy by the end of 2021; calls on the Commission to present proposals by June 2021, while anticipating their compatibility with the reform by the G20/OECD IF to be agreed on; stresses the need to create a level playing field for providers of traditional services and digital services in the EU by ensuring that the latterautomated digitalised services and consumer facing businesses are taxed at an adequate and fair rate; invites the Commission to consider in particular introducing a temporary European Digital Services Tax as a necessary first step; calls for the EU to implement the future outcome of the international negotiations in a harmonised way and invites the Commission to issue any relevant Proposal to that effect;
Amendment 170 #
2021/2010(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Understands that some Member States consider the taxation of digital economy an urgent issue and have therefore introduced digital services taxes at national level; recalls that these national measures should be phased out once a multilateral solution is found; calls on Member States to refrain from introducing national solutions unilaterally, as they create a risk of fragmentation of the single market; recalls that although taxation is primarily a Member State competence, they must exercise it in coherence with the common principles of EU law in order to ensure coherence between national frameworks, thereby allowing for fair competition and avoiding a negative impact on the overall coherence of EU taxation principles; notes that the procedure laid down in Article 116 of the Treaty on the Functioning of the European Union, under which Parliament and the Council act in accordance with the ordinary legislative procedure, may be applied if lack of regulatory harmonisation leads to market distortion within the Union;
Amendment 178 #
2021/2010(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Understands that some Member States consider the taxation of large digital economybusinesses an urgent issue and have therefore introduced digital services taxes at national level; recalls that these national measures should be phased out once a multilateral solution is found; calls on Member States to refrain from introducing national solutionsfor a swift agreement and implementation of the international solution in order to prevent the introduction of further unilaterally solutions, as they create a risk of fragmentation of the single market; recalls minds that although taxation is primarily a Member State competence, they must exercise it in coherence with the common principles of EU law in order to ensure coherence between national frameworks, thereby allowing for fair competition and avoiding a negative impact on the overall coherence of EU taxation principles;
Amendment 183 #
2021/2010(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Understands that some Member States consider the taxation of large digital economybusinesses an urgent issue and have therefore introduced digital services taxes at national level; recalls that these national measures should be phased out once a multilateral solution is found; recalls on Member States to refrain fromthat introducing national solutions unilaterally, as they can create a risk of fragmentation of the single market; recallminds that although taxation is primarily a Member State competence, they must exercise it in coherence with the common principles of EU law in order to ensure coherence between national frameworks, thereby allowing for fair competition and avoiding a negative impact on the overall coherence of EU taxation principles;
Amendment 199 #
2021/2010(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Regrets that the Council did not agree on any of the Commission’s related proposals, i.e. the digital services tax, the significant digital presence or the CCTB and CCCTB; calls on the Member States to reconsider their position on these proposals or to integrate them into a potential future implementation of Pillar I, and to consider all options provided for by the Treaties if no unanimous agreement can be reached;
Amendment 207 #
2021/2010(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. NotWelcomes the Commission inception impact assessment on a Digital Levy of 14 January 2021; notes that digitalisation can increase productivity and consumer welfare, but it is also of paramount importance to ensure that digital multinationals contribute their fair share to society, taking into account that the average annual revenue growth of top digital firms is 14 % compared to between 0.2 % and 3 % for other multinationals; calls on the Commission to carefully assess how the scope, definition and segmentation of digital activities, transactions, services or companies will be in line with international efforts to find a global solution;
Amendment 233 #
2021/2010(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the conclusions of the European Council of 21 July 2021, which task the Commission with putting forward proposals for additional own resources including a digital levy; recalls that the collection of such additional own resources should be compatible with existing bilateral tax treaties and complementary to the ongoing international negotiations;
Amendment 234 #
2021/2010(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the conclusions of the European Council of 21 July 2021, which task the Commission with putting forward proposals for additional own resources including a digital levyInterinstitutional Agreement on budgetary cooperation of 16 December 2020 (IIA) and recalls the legally binding commitment towards the introduction of an EU digital levy in the long-term EU budget as an own resource by 1 January 2023; underlines that revenues generated by digital taxation in the Member States will become an own resource;
Amendment 4 #
2021/2003(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the gender action plan III (GAP III), and in particular, the commitment of 85 % of the EU’s official development aid (ODA) being allocated to programmes having gender equality as a significant or as a principal objective; calls for 20 % of ODA in each country to be allocated to programmes having gender equality as one of its principal objectives; expects that no ODA spending to counterwill be spent on projects that could reverse or harm gender-equality achievements; emphasises the need for coordinated and coherent EU action and calls for close cooperation with other actoall relevant actors and stakeholders;
Amendment 6 #
2021/2003(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Highlights that all crisis have a strongly gendered impact and none more than the current COVID-19 pandemic; underlines that due to the asymmetric impact of the pandemic on sectors and occupations as well as the different position of men and women in the labour market, more women than men have lost their jobs and are more likely to be among furloughed workers;
Amendment 9 #
2021/2003(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. HighlightUnderlines that funding needs to be accessible for local and small civil society organisations that work most closely with girls and women in all their diversity and different life situations; emphasises the key role of the neighbourhood, development and international cooperation instrument and stresses that administrative and implementation barriers should be avoided, since theyat might haimperde the involvementwork of the most relevant actors; recalls the urgent need for significant funding for sexual and reproductive health and rights;
Amendment 13 #
2021/2003(INI)
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Stresses its previous position calling for a specific chapter on trade and gender equality and women’s empowerment, in the upcoming modernisation of the EU Chile Association agreement; observes with interest the progress made on a trade and gender chapter in the negotiations and calls for a swift conclusion in 2021;
Amendment 16 #
2021/2003(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Welcomes the increased level of support for gender-responsive budgeting, the creation of specific gender indicators and the collection of gender- disaggregated data; expects the Commission to consult Parliament on the monitoring systemincluding via programmes to support public finance management; expects concrete steps towards supporting universal social protection systems, and recognising, reducing and redistributing unpaid care and domestic work;
Amendment 18 #
2021/2003(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Welcomes the intention to increase overall funding for education with 10% of the humanitarian aid budget devoted to funding for education in emergencies; underlines that gender-responsible budgeting should also support programmes aimed at enhancing women’s capacity as political leaders and promoting young leaders programmes;
Amendment 20 #
2021/2003(INI)
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Emphasises the importance of investing in women-entrepreneurship and women-led businesses, as well as funding projects offering business development services and support for employment, including for women in recovery contexts and in forced displacement;
Amendment 21 #
2021/2003(INI)
Draft opinion
Paragraph 3 c (new)
Paragraph 3 c (new)
3c. Welcomes the creation of specific gender indicators, which must be clear, measurable and time-bound, and the collection of gender-disaggregated data; expects the Commission to consult the Parliament on the monitoring system which should be in line with, but not limited to, the SDGs and should include EU specific indicators based on international human rights standards, such as the CEDAW, the Istanbul Convention, the IPCD program of action and its review conferences, the EU Strategic Approach to WPS and the relevant ILO conventions;
Amendment 22 #
2021/2003(INI)
Draft opinion
Paragraph 3 d (new)
Paragraph 3 d (new)
3d. Recalls that the Interinstitutional Agreement adopted on 16 December 2020 accompanying the 2021-2027 MFF Regulation, sets gender equality as an horizontal principle for the 2021-2027 period and forms an integral part of budgetary transparency; calls on the Commission to develop and present to the European Parliament the methodology to measure gender relevant expenditure at programme level in the MFF 2021-2027, including as far as NDICI implementation is concerned;
Amendment 44 #
2021/2003(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Welcomes the Commission’s commitment to table binding measures on pay transparency which can be a useful tool to detect gaps and discrimination within the same sector and bridge the gender pay gap; regrets nonetheless the delay in publishing this proposal and asks the Commission to put forward the proposal as soon as possible building on examples like the one on Switzerland with public procurement policy;
Amendment 54 #
2021/2003(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Notes that e-commerce has a potential to connect more female entrepreneurs with international markets; however, calls for the Commission to support women in adopting new technologies such as blockchain that due to its peer-to-peer nature, anonymity and efficiency can help certain women to overcome some discriminatory legal and cultural barriers to trade, improve their access to finance and help them to integrate in global value chains;
Amendment 61 #
2021/2003(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Calls on the Commission to ensure that sufficient resources are available to promote the core value of gender equality in its trade and investment policies and to ensure that the secretariats of the EU institutions responsible for trade policy and negotiations have the knowledge and technical capacity to incorporate the gender perspective. in the entire process of trade negotiations and policy formulation, by appointing gender focal points
Amendment 65 #
2021/2003(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Is convinced that sharing best practices between the EU and organisations active in researching and promoting women economic empowerment such as ILO, ITC, UNCTAD, World Bank and creation of networks involving academia, CSOs and other stakeholders is indispensable for achieving results; stresses in this context also the role of parliaments; calls on the Commission to ensure that sufficient resources are available to promote the core value of gender equality also in its trade and investment policies and to ensure that the secretariats of the EU institutions responsible for trade policy and negotiations have the knowledge and technical capacity to incorporate the gender perspective in the entire process of trade negotiations and policy formulation;
Amendment 67 #
2021/2003(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Welcomes ISO International Workshop Agreement (ISO/IWA 34) on global definitions related to women’s entrepreneurship (with an aim to facilitate policymaking, data collection and access to capacity building, finance, and markets for women's economic empowerment);
Amendment 90 #
2021/0377(COD)
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9 a) ELTIFs are intended to promote long-term economic growth in the Union and as such sustainability considerations are at their heart. ELTIFs thus either promote, among other characteristics, environmental or social characteristics or have sustainable investment as their objective. Therefore, ELTIFs should be subject to the requirements of either Article 8 or 9 of Regulation (EU) 2019/2088.
Amendment 124 #
2021/0377(COD)
Proposal for a regulation
Recital 21 a (new)
Recital 21 a (new)
(21 a) As ELTIFs aim to finance long- term assets, sufficient attention should be given to the risk of assets becoming stranded due to economic transition away from fossil fuels and other polluting activities. Currently investors tend to underprice the risks of legislative action to address climate change. This means they expose their investors to significant risks and increase the cost of the transition to a sustainable economy. As such, ELTIFs should not invest in assets that have a high risk of becoming stranded due to the economic transition. ESMA should develop regulatory technical standards to indicate which assets fall into this category.
Amendment 169 #
2021/0377(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 4 a (new)
Article 1 – paragraph 1 – point 4 a (new)
Regulation (EU) 2015/760
Article 7 – paragraph 4
Article 7 – paragraph 4
(4 a) In Article 7, paragraph 4 is added: ‘4. An ELTIF shall comply with the requirements of either Article 8 or of Article 9 of Regulation (EU) 2019/2088.’
Amendment 239 #
2021/0377(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 8 a (new)
Article 1 – paragraph 1 – point 8 a (new)
Regulation (EU) 2015/760
Article 14a (new)
Article 14a (new)
Amendment 323 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2013/36/EU
Article 66 – paragraph 2 – point c – point iv
Article 66 – paragraph 2 – point c – point iv
(iv) subject to Article 65(2), a temporary or a definitive ban of a member of the institution's management body or any other natural person who is held responsible for the infringement from exercising functions in the institution.
Amendment 327 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point b
Article 1 – paragraph 1 – point 10 – point b
Directive 2013/36/EU
Article 67 – paragraph 2 – point c – point iv
Article 67 – paragraph 2 – point c – point iv
(iv) subject to Article 65(2), a temporary or a definitive ban of a member of the institution's management body or any other natural person who is held responsible for the infringement from exercising functions in the institution;
Amendment 112 #
2021/0297(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) The general objectives of the GSP are to support eradication of poverty in all its forms, in line with Agenda 2030 and Sustainable Development Goal 17.12 and to promote the sustainable development agenda, while averting harm to EU industry’s interests. The 2018 GSP Mid- term Evaluation and the 2021 supporting Study for the Impact Assessment underpinning this Regulation concluded that the GSP framework under Regulation (EU) No 978/2012 has delivered on these main objectives, which were at the core of the 2012 overhaul of Council Regulation (EC) No 732/200815 , although noting a limited impact on sustainable development and environmental protection, together with a lack of progress on democracy and human rights. _________________ 15 Council Regulation (EC) No 732/2008 of 22 July 2008 applying a scheme of generalised tariff preferences from 1 January 2009 and amending Regulations (EC) No 552/97, (EC) No 1933/2006 and Commission Regulations (EC) No 1100/2006 and (EC) No 964/2007 (OJ L 211, 6.8.2008, p. 1).
Amendment 142 #
2021/0297(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) The scheme should consist of a basic arrangement (‘standard GSP arrangement’), and two special arrangements, namely the ‘special incentive arrangement for sustainable development and good governance – GSP+’ and the ‘special arrangement for the least-developed countries - EBA’. It, therefore, continues the structure of the previous ten years, which is considered a success, as it focuses on the countries most in need and addresses the varying developmental needs of beneficiaries.
Amendment 147 #
2021/0297(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) The special incentive arrangement for sustainable development and good governance (GSP+) is based on the integral concept of sustainable development, as recognised by international conventions and instruments such as the 1986 UN Declaration on the Right to Development, the 1992 Rio Declaration on Environment and Development, the 1998 International Labour Organisation (ILO) Declaration on Fundamental Principles and Rights at Work, the 2000 UN Millennium Declaration, the 2002 Johannesburg Declaration on Sustainable Development, the ILO Centenary Declaration for the Future of Work of 2019, the Outcome Document of the UN Summit on Sustainable Development of 2015 "Transforming Our World: the 2030 Agenda for Sustainable Development", the UN Guiding Principles on Business and Human Rights, and the Paris Agreement on Climate Change under the UN Framework Convention on Climate Change. Consequently, the additional tariff preferences provided for under the special incentive arrangement for sustainable development and good governance should be granted to those developing countries which, due to a lack of diversification, are economically vulnerable, have ratified core international conventions on human and labour rights, climate and environmental protection and good governance, and commit to ensuring the effective implementation thereof. The special incentive arrangement for sustainable development and good governance should help those countries to assume the additional responsibilities resulting from the ratification and effective implementation of these conventions. The list of conventions relevant for GSP should be updated to better reflect the evolution of core international instruments and standards and take a proactive approach to sustainable development in keeping with the Sustainable Development Goals and Agenda 203018 . In this regard, the following conventions are added: the Paris Agreement on Climate Change (2015) – replacing the Kyoto Protocol; the Convention on the Rights of Persons with Disabilities (CRPD); the First Optional Protocol to the International Covenant on Civil and Political Rights; the Optional Protocol to the Convention on the Rights of the Child on the Involvement of Children in Armed Conflict (OP-CRC-AC); ILO Convention No 81 on Labour Inspection; ILO Convention No 144 on Tripartite Consultation; and the UN Convention against Transnational Organized Crime. _________________ 18 United Nations (2015). Resolution adopted by the General Assembly on 25 September 2015, Transforming our World: the Agenda 2030 for Sustainable Development (A/RES/70/1), available at: https://sustainabledevelopment.un.org/post 2015/transformingourworld
Amendment 152 #
2021/0297(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) Preferences should be designed to promote further economic growth and, thereby, to respond positively to the need for sustainable economic development. Under the special incentive arrangement for sustainable development and good governance, the ad valorem tariffs should, therefore, be suspended for the beneficiary countries concerned. The specific duties should also be suspended, unless combined with an ad valorem duty.
Amendment 153 #
2021/0297(COD)
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15 a) The application for the special incentive arrangement for sustainable development should comprise, among others, a public plan of action detailing a priority-oriented list of measures to be taken which are considered necessary to effectively implement the relevant international conventions. This plan of action, on which the beneficiary country should have reached a common understanding with the Commission and where appropriate the European External Action Service, should also include deadlines and identify the relevant bodies of the beneficiary country responsible for its implementation.
Amendment 154 #
2021/0297(COD)
Proposal for a regulation
Recital 15 b (new)
Recital 15 b (new)
(15 b) The special incentive arrangement for sustainable development and good governance should help those countries to assume the additional responsibilities resulting from the ratification and effective implementation of the international conventions on human and labour rights, environmental protection and good governance. The suspension of tariffs should therefore follow their effective implementation. Consequently, the plan of action should comprise a schedule for the suspension of tariffs (the “tariffs suspension schedule”), based on benchmarks against which the progress in the implementation of the relevant conventions is assessed.
Amendment 155 #
2021/0297(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) The Commission and where appropriate the European External Action Service should monitor the status of ratification of the international conventions on human and labour rights, environmental protection and good governance and their effective implementation, by examining the relevant information, in particular where available the conclusions and recommendations of the relevant monitoring bodies established under those conventions. Every threewo years, the Commission should present to the European Parliament and the Council a report on the status of ratification of the respective conventions, the compliance of the beneficiary countries with any reporting obligations under those conventions, and the status of the implementation of the conventions in practice.
Amendment 159 #
2021/0297(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) For the purposes of monitoring of implementation and, where applicable, subsequent granting or withdrawal of tariff preferences, reports from relevant monitoring bodies are essential. However, such reports may be supplemented by other information available to the Commission, including information obtained under bilateral or multilateral technical assistance programmes, and through other sources of information, provided they are accurate and reliable. This could include information from the European Parliament and the Council, governments, international organisations, civil society, social partners, or complaints received through the SEP provided they satisfy the relevant requirements. Shortcomings identified during the monitoring process may inform the Commission’s future programming of development assistance in a more targeted manner.
Amendment 160 #
2021/0297(COD)
Proposal for a regulation
Recital 18
Recital 18
(18) In July 2020, the Commission appointed the Chief Trade Enforcement Officer with the role of enforcing trade rules. In this connection, in November 2020, the Commission launched a new complaints mechanism, the Single Entry Point (‘SEP’), as part of its increased efforts to strengthen the enforcement and implementation of trade commitments. Through the SEP, the Commission receives complaints on various matters related to trade policy, including breaches of the GSP commitments. The SEP is accessible to citizens, entities, trade unions, stakeholders or civil society established in the Union or in the beneficiary countries and complaints may be submitted anonymously. Such new system of complaints should be integrated and formalised within the framework of this Regulation.
Amendment 186 #
2021/0297(COD)
Proposal for a regulation
Recital 25 a (new)
Recital 25 a (new)
(25 a) The Commission should initiate the procedure for temporary withdrawal when it considers that there are sufficient reasons to believe that a beneficiary country is in breach of its obligations under the current regulation. In determining whether such reasons exist, it should take into consideration all relevant and credible information emanating from, inter alia, the relevant monitoring bodies, civil society organisations, stakeholders and Union institutions. The Commission should initiate the procedure for temporary withdrawal when it is requested to do so by the European Parliament in its annual report on the implementation of the generalised scheme of tariff preferences.
Amendment 187 #
2021/0297(COD)
Proposal for a regulation
Recital 26
Recital 26
Amendment 193 #
2021/0297(COD)
Proposal for a regulation
Recital 27
Recital 27
Amendment 197 #
2021/0297(COD)
Proposal for a regulation
Recital 36
Recital 36
(36) The Commission should report regularly to the European Parliament and to the Council on the effects of the scheme under this Regulation through the relevant institutional committees. By 1 January 203029, the Commission should report to the European Parliament and to the Council on the mid-term application of this Regulation and assess the need to review the scheme. The report is necessary to analyse the impact of the scheme on the development, trade and financial needs of beneficiaries as well as on bilateral trade and on the Union's tariff income, with particular attention to the sustainable development goals.
Amendment 203 #
2021/0297(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 10 a (new)
Article 2 – paragraph 1 – point 10 a (new)
(10 a) ‘plan of action’ means a forward looking and priority-oriented list of measures, including legislative ones, to be adopted and actions to be taken by a beneficiary country which are considered necessary to effectively implement the core international conventions referred to in Annex VI, including a timeframe for each listed measure and action and identifying as precisely as possible the relevant institution or structure responsible for its implementation and oversight;
Amendment 206 #
2021/0297(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 10 b (new)
Article 2 – paragraph 1 – point 10 b (new)
(10 b) ‘tariff suspension schedule’ means the schedule included in the plan of action and according to which the tariff preferences are granted, following the benchmarks and timeframe agreed in the plan of action;
Amendment 207 #
2021/0297(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 10 c (new)
Article 2 – paragraph 1 – point 10 c (new)
(10 c) ‘list of issues’ means a list of the salient issues in relation to attaining effective implementation of the international conventions relevant to the GSP+ arrangement, as identified by the monitoring bodies or based on any accurate and reliable sources of information, including as provided by relevant stakeholders and civil society organisations, and based on the conclusions outlined in the report referred to in Article 14 and relative to the preceding monitoring cycle;
Amendment 209 #
2021/0297(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 11 a (new)
Article 2 – paragraph 1 – point 11 a (new)
Amendment 211 #
2021/0297(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 12
Article 2 – paragraph 1 – point 12
(12) ‘complaint’ means a complaint submitted, also anonymously, to the Commission through the Single Entry Point. by citizens, entities, trade unions, stakeholders or civil society from the Union or the beneficiary countries covered by the schemes referred to in Article 1 paragraph 2 and relating to conditions and reasons referred to in Articles 9 and 19;
Amendment 216 #
2021/0297(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point b a (new)
Article 4 – paragraph 1 – point b a (new)
(b a) there is sufficient ground to consider that serious and systematic infringement and violations of the conditions set out in Article 19.1 points (a), (b), (c), (d) and (e) exist.
Amendment 220 #
2021/0297(COD)
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
1 a. Countries that benefit from the standard arrangement referred to in paragraph 1 shall ratify the conventions listed in Annex VI, and adopt a National Action Plan for the implementation of the UN Guiding Principles on Business and Human Rights, in conformity with the Guidance on National Action Plans of the UN Working Group on Business and Human Rights, within five years upon the application of the preferences.
Amendment 222 #
2021/0297(COD)
Proposal for a regulation
Article 4 – paragraph 1 b (new)
Article 4 – paragraph 1 b (new)
1 b. Union development finance programming under the Neighbourhood, Development and International Cooperation Instrument - Global Europe established by Regulation (EU) 2021/947 of the European Parliament and of the Council in support of countries benefitting from the special arrangement referred to in paragraph 1 shall prioritise ratification of the conventions listed in Annex VI and the adoption of a National Action Plan as referred to in paragraph 1a.
Amendment 224 #
2021/0297(COD)
Proposal for a regulation
Article 5 – paragraph 2 – introductory part
Article 5 – paragraph 2 – introductory part
2. BWith regard to the economic criteria referred to in Article 4 paragraph 1 (a) and (b), by 1 January of each year following the entry into force of this Regulation the Commission shall review Annex I. To provide a standard GSP beneficiary country and economic operators with time for orderly adaptation to the change of the country's status under the scheme:
Amendment 227 #
2021/0297(COD)
Proposal for a regulation
Article 6 – paragraph 1 a (new)
Article 6 – paragraph 1 a (new)
1 a. Exporters of certified sustainable products shall, upon request, be granted a “sustainability certificate”, proving the eligibility of their goods for preferential market access.
Amendment 229 #
2021/0297(COD)
Proposal for a regulation
Article 6 – paragraph 1 b (new)
Article 6 – paragraph 1 b (new)
1 b. The Commission shall also, as appropriate, periodically verify that recognised voluntary sustainability certification schemes continue to fulfil the criteria that led to their recognition in accordance with paragraph 1a.
Amendment 230 #
2021/0297(COD)
Proposal for a regulation
Article 6 – paragraph 1 c (new)
Article 6 – paragraph 1 c (new)
Amendment 231 #
2021/0297(COD)
Proposal for a regulation
Article 6 – paragraph 1 d (new)
Article 6 – paragraph 1 d (new)
1 d. If there is evidence of repeated or significant cases where economic operators implementing a scheme recognised in accordance with paragraph 1a have failed to fulfil the requirements of this Regulation, the Commission shall examine, in consultation with the operator of the recognised scheme, whether those cases indicate deficiencies in the scheme.
Amendment 232 #
2021/0297(COD)
Proposal for a regulation
Article 6 – paragraph 1 e (new)
Article 6 – paragraph 1 e (new)
1 e. The Commission shall establish and keep up-to-date a register of recognised voluntary sustainability certification schemes. That register shall be made publicly available on the internet.
Amendment 233 #
2021/0297(COD)
Proposal for a regulation
Article 6 a (new)
Article 6 a (new)
Article 6 a Where the Commission identifies deficiencies in a recognised voluntary sustainability certification scheme, it may grant the scheme operator an appropriate period of time to take remedial action.
Amendment 245 #
2021/0297(COD)
Proposal for a regulation
Article 9 – paragraph 1 – point b a (new)
Article 9 – paragraph 1 – point b a (new)
(b a) it has adopted a National Action Plan for the implementation of the UN Guiding Principles on Business and Human Rights, in conformity with the Guidance on National Action Plans of the UN Working Group on Business and Human Rights;
Amendment 250 #
2021/0297(COD)
Proposal for a regulation
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
1 a The plan of action referred to in paragraph 1 point d) shall: (a) include a timetable of measures that are necessary to effectively implement the relevant conventions; (b) include a tariff suspension schedule, based on the benchmarks against which the progress in the implementation of the relevant conventions is assessed; (c) be jointly agreed between the Commission and the applicant country for a period of two years; (d) serve as a basis for the report referred to in Article 14; (e) be made publicly available.
Amendment 252 #
2021/0297(COD)
Proposal for a regulation
Article 12 – paragraph 1
Article 12 – paragraph 1
1. The Common Customs Tariff ad valorem duties on all products listed in Annex III and Annex VII, which originate in a GSP+ beneficiary country, shall be suspended according to the tariff suspension schedule referred to in Article 9(1a) point b).
Amendment 253 #
2021/0297(COD)
Proposal for a regulation
Article 12 – paragraph 2
Article 12 – paragraph 2
2. Common Customs Tariff specific duties on products referred to in paragraph 1 shall be suspended entirelyaccording to the tariff suspension schedule referred to in Article 9(1a) point b), except for products for which the Common Customs Tariff duties include ad valorem duties. For products with Combined Nomenclature code 1704 10 90, the specific duty shall be limited to 16 % of the customs value.
Amendment 255 #
2021/0297(COD)
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
1. As of the date of the granting of the tariff preferences provided under the special incentive arrangement for sustainable development and good governance, the Commission shall, with regard to each of the GSP+ beneficiary countries, keep under review and monitor the status of ratification of the relevant conventions and their effective implementation, as well as the cooperation of the GSP+ beneficiary country with the relevant monitoring bodies. In doing so, the Commission shall examine all relevant information, in particular the conclusions and recommendations of the relevant monitoring bodiesassess in a transparent manner and based on objective criteria the progress made by the GSP+ beneficiary countries in implementing their plans of action, and examine all relevant information, in particular the conclusions and recommendations of the relevant monitoring bodies, as well as duly substantiated information submitted by individual citizens, private sector actors, civil society organisations, representatives of trade unions, other relevant stakeholders and any complaints received. A cycle of two years for the review, monitoring and assessment (hereinafter monitoring cycle) is hereby established.
Amendment 262 #
2021/0297(COD)
Proposal for a regulation
Article 13 – paragraph 2 a (new)
Article 13 – paragraph 2 a (new)
2 a. At the beginning of each monitoring cycle, the Commission shall send a list of issues to all GSP+ beneficiary countries outlining implementation issues that need to be addressed during the cycle. The lists of issues shall be made publicly available.
Amendment 265 #
2021/0297(COD)
Proposal for a regulation
Article 13 – paragraph 2 b (new)
Article 13 – paragraph 2 b (new)
2 b. At the end of each monitoring cycle, the Commission shall assess which benchmarks have been met by the GSP+ beneficiary country with regard to the implementation of the relevant conventions. Where relevant and based on the tariff suspension schedule, it shall adopt an implementing act establishing, in accordance with the advisory procedure referred to in Article 39(2), on which products tariff duties shall be suspended.
Amendment 269 #
2021/0297(COD)
Proposal for a regulation
Article 13 a (new)
Article 13 a (new)
Article 13 a The Commission shall be assisted in reviewing, monitoring and assessing the binding undertakings referred to in Article 9, points (d), (e) and (f) by an advisory body composed of representatives of the Union’s stakeholders. The Commission shall consult the advisory body with regard to the plans of action submitted by the GSP beneficiary countries in view of their application to the GSP+ scheme; for that purpose, the participation to the advisory body shall be extended to stakeholders in the beneficiary countries. The Commission shall also consult with and report to the advisory body when assessing the implementation of the plans of action during each monitoring cycle and more generally throughout the cycle as regularly as necessary, including ahead of and after monitoring missions.
Amendment 270 #
2021/0297(COD)
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
1. By 1 January 20276, and every threewo years thereafter, the Commission shall present to the European Parliament and to the Council a report on the status of ratification of the relevant conventions, the compliance of the GSP+ beneficiary countries with any reporting obligations under those conventions and, the status of the effective implementation thereof, and a list of products on which tariffs are suspended.
Amendment 276 #
2021/0297(COD)
Proposal for a regulation
Article 14 – paragraph 3
Article 14 – paragraph 3
3. In drawing their conclusions concerning effective implementation of the relevant conventions, the Commission and where appropriate the European External Action Service shall assess the implementation of the plans of action, also based on the conclusions and recommendations of the relevant monitoring bodies, as well as, without prejudice to other sources, information submitted by the European Parliament or the Council as well as third parties, including governments and international organisations, civil society, and social partners. The Commission and, where applicable, the European External Action Service shall provide recommendations on issues and actions to be prioritised in the following monitoring cycle, including on the provision of technical assistance and development support, as appropriate. In case of major shortcomings in implementing the plans of action, the report shall indicate which measures the country shall undertake in order to comply with the obligations under Article 9(d).
Amendment 281 #
2021/0297(COD)
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
1. The special incentive arrangement for sustainable development and good governance shall be withdrawn temporarily, in respect of all or of certain products, including certain sectors or economic operators, originating in a GSP+ beneficiary country, where that country does not respect its binding undertakings as referred to in Article 9, points (d), (e) and (f), or the GSP+ beneficiary country has formulated a reservation which is prohibited by any of the relevant conventions or which is incompatible with the object and purpose of that convention as established in Article 9, point (c).
Amendment 283 #
2021/0297(COD)
Proposal for a regulation
Article 15 – paragraph 3
Article 15 – paragraph 3
3. When requested by the European Parliament or, on its own initiative, where, either on the basis of the conclusions and of the GSP+ beneficiary country’s follow up to recommendations and priority actions as provided by the report referred to in Article 14 or on the basis of the evidence available, including evidence submitted through a complaint, the Commission has a reasonable doubt that a particular GSP+ beneficiary country does not respect its binding undertakings as referred to in Article 9, points (d), (e) and (f), including with regard to the implementation of its plan of action, or has formulated a reservation which is prohibited by any of the relevant conventions or which is incompatible with the object and purpose of that convention as established in Article 9, point (c), it shall, in accordance with the advisory procedure referred to in Article 39(2), adopt an implementing act to initiate the procedure for the temporary withdrawal of the tariff preferences provided under the special incentive arrangement for sustainable development and good governance. The Commission shall inform the European Parliament and the Council thereof. In its assessment of whether the GSP+ beneficiary country does not respect its binding undertakings referred to in Article 9 point (d), the Commission will in particular take into account whether the relevant monitoring bodies, treaty and supervisory mechanisms have signalled a potentially serious failure to effectively implement the relevant conventions, based on indicators such as: - the establishment of commissions of inquiry, fact-finding missions, country special rapporteurs, or other monitoring mechanisms by the UN Human Rights Council or General Assembly; - findings by the UN High Commissioner for Human Rights, UN Special Procedures or other UN independent human rights experts; - relevant procedures in the framework of the ILO Committee of Application of Standards, such as the introduction of a special paragraph; - rulings and opinions by international human rights courts; - reports by prominent local and international human rights groups; - relevant indicators for the effective implementation of Multilateral Environmental and good governance Conventions.
Amendment 287 #
2021/0297(COD)
Proposal for a regulation
Article 15 – paragraph 4 – point a
Article 15 – paragraph 4 – point a
(a) where relevant, state the grounds for the reasonable doubt referred to in paragraph 3 which may call into question the right of the GSP+ beneficiary country to continue to enjoy the tariff preferences provided under the special incentive arrangement for sustainable development and good governance;
Amendment 300 #
2021/0297(COD)
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
1. An eligible country shall benefit from the tariff preferences provided under the special arrangement for the least- developed countries referred to in Article 1(2), point (c), if that country is identified by the United Nations as a least-developed country and if the country is compliant with the conditions referred to in Article 19 paragraph 1.
Amendment 302 #
2021/0297(COD)
Proposal for a regulation
Article 17 – paragraph 1 a (new)
Article 17 – paragraph 1 a (new)
1 a. The Commission and, where applicable the EEAS, shall make sure that countries that benefit from the special arrangement referred to in paragraph 1 make continued and sustained progress towards ratifying the conventions listed in Annex VI and towards the adoption of National Action Plans for the implementation of the UN Guiding Principles on Business and Human Rights, in conformity with the Guidance on National Action Plans of the UN Working Group on Business and Human Rights; EU development finance programming under the Neighbourhood, Development and International Cooperation Instrument - Global Europe established by Regulation (EU) 2021/947 shall prioritise support to countries benefitting from the special arrangement referred to in paragraph 1 aiming to make progress towards the ratification of the conventions listed in Annex VI and the adoption of the National Action Plans.
Amendment 307 #
2021/0297(COD)
Proposal for a regulation
Article 19 – paragraph 1 – introductory part
Article 19 – paragraph 1 – introductory part
1. The preferential arrangements referred to in Article 1(2) may be withdrawn temporarily, in respect of all or of certain products, including certain sectors or economic operators, originating in a beneficiary country, for any of the following reasons:
Amendment 311 #
2021/0297(COD)
Proposal for a regulation
Article 19 – paragraph 1 – point a
Article 19 – paragraph 1 – point a
(a) serious and systematic violation of principles laid down in the conventions listed in Annex VI, or failure to abide by the obligation to ratify these conventions, as referred to in Article 4(1a);
Amendment 317 #
2021/0297(COD)
Proposal for a regulation
Article 19 – paragraph 1 – point c
Article 19 – paragraph 1 – point c
(c) serious shortcomings in customs controls on the export or transit of drugs (illicit substances or precursors), or related to the obligation to readmit the beneficiary country’s own nationals or serious failure to comply with international conventions on antiterrorism or anti-money laundering;
Amendment 323 #
2021/0297(COD)
Proposal for a regulation
Article 19 – paragraph 1 – subparagraph 1 (new)
Article 19 – paragraph 1 – subparagraph 1 (new)
For the purpose of applying point (a), the Commission will in particular take into account whether the relevant monitoring bodies, treaty and supervisory mechanisms have signalled potentially serious and systematic violations of the principles of the relevant conventions, based on such indicators as: - the establishment of commissions of inquiry, fact-finding missions, country special rapporteurs, or other monitoring mechanisms by the UN Human Rights Council or General Assembly; - findings by the UN High Commissioner for Human Rights, UN Special Procedures or other UN independent human rights experts; - relevant procedures in the framework of the ILO Committee of Application of Standards, such as the introduction of a special paragraph; - rulings and opinions by international human rights courts; - reports by prominent local and international human rights groups; - relevant indicators for the effective implementation of Multilateral Environmental and good governance Conventions.
Amendment 330 #
2021/0297(COD)
Proposal for a regulation
Article 19 – paragraph 2 a (new)
Article 19 – paragraph 2 a (new)
2 a. The Commission may notify the beneficiary country when in particular the seriousness of the violations of principles of the international conventions listed in Annex VI so requires, based on available assessments, comments, decisions, recommendations and the conclusions of the relevant monitoring bodies, or based on substantiated concerns expressed by the Council, international organisations, and civil society including trade unions, or acting upon a complaint. It shall do so when requested by the European Parliament. Starting from the date of the notification and for the duration of one year, the beneficiary country and the Commission shall enter into an enhanced engagement, whereby the beneficiary country commits to adopt time-bound roadmaps providing for concrete actions and sustainable solutions to the serious violations identified. EU development finance programming under the Neighbourhood, Development and International Cooperation Instrument - Global Europe established by Regulation (EU) 2021/947 of the European Parliament and of the Council may support beneficiary countries in implementing the roadmaps. The Commission shall regularly consult with the European Parliament and the Council during the enhanced engagement process. The Commission shall also consult with the advisory body referred to in Article 13a.
Amendment 332 #
2021/0297(COD)
Proposal for a regulation
Article 19 – paragraph 3
Article 19 – paragraph 3
3. Where the Commissionn requested by the European Parliament or where, acting upon a complaint or on its own initiative, the Commission considers that there armay be sufficient grounds justifying temporary withdrawal of the tariff preferences provided under any preferential arrangement referred to in Article 1(2) because the beneficiary country has failed to deliver on its roadmap referred to Article 19(2a), or more generally on the enhanced engagement, or on the basis of the reasons referred to in paragraph 1 of this Article it shall adopt an implementing act to initiate the procedure for temporary withdrawal in accordance with the advisory procedure referred to in Article 39(2). The Commission shall inform the European Parliament and the Council of the adoption of that implementing act.
Amendment 339 #
2021/0297(COD)
Proposal for a regulation
Article 19 – paragraph 3 a (new)
Article 19 – paragraph 3 a (new)
3 a. The Commission shall inform the European Parliament, the Council and the advisory body referred to in Article 13a about the complaints received. The Commission shall inform the complainant, the European Parliament, the Council and the advisory body referred to in Article 13a where it considers that the complaint does not provide sufficient evidence in relation to the indicators referred to in this article.
Amendment 390 #
2021/0297(COD)
Proposal for a regulation
Article 29 – paragraph 1 – introductory part
Article 29 – paragraph 1 – introductory part
1. Without prejudice to Section I of this Chapter, on 1 January of each year, the Commission, on its own initiative and in accordance with the advisory procedure referred to in Article 39(2), shall adopt an implementing act in order to remove the tariff preferences referred to in Articles 7 and 12 with respect to the products from GSP sections S-11a, S-11b and S-11b2a or to products falling under Combined Nomenclature codes 2207 10 00, 2207 20 00, 2909 19 10, 3814 00 90, 3820 00 00, 38249956, 38249957, 38249992, 38248400, 38248500, 38248600, 38248700, 38248800, 38249993, and 38249996 where imports of such products, originate in a beneficiary country and their total value:
Amendment 404 #
2021/0297(COD)
Proposal for a regulation
Article 29 – paragraph 1 – point b
Article 29 – paragraph 1 – point b
(b) for products under GSP sections S- 11a, S-11b and S-11b2a exceeds the share referred to in point 3 of Annex IV of the value of Union imports of products in GSP sections S-11a and S-11b from all countries and territories listed in Annex I, columns A and B, during a calendar year.
Amendment 414 #
2021/0297(COD)
Proposal for a regulation
Article 40 – paragraph 1
Article 40 – paragraph 1
By 1 January 20276 and every threewo years thereafter, the Commission shall submit to the European Parliament and to the Council a report on the effects of the scheme covering the most recent three-year period and all of the preferential arrangements referred to in Article 1(2).
Amendment 417 #
2021/0297(COD)
Proposal for a regulation
Article 40 – paragraph 2
Article 40 – paragraph 2
By 1 January 203029, the Commission shall submit, to the European Parliament and to the Council, a report on the application of this Regulation. Such a report may, where appropriate, be accompanied by a legislative proposal.
Amendment 316 #
2021/0240(COD)
Proposal for a regulation
Article 1 – paragraph 3 – introductory part
Article 1 – paragraph 3 – introductory part
3. The objective of the Authority shall be to protect the public interest, the stability and the integrity of the Union’s financial system and the good functioning of the internal market by:
Amendment 321 #
2021/0240(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
(1) ‘selected obliged entity’ means a credit institution, a financial institution, a crypto-asset service provider or a group of credit or financial institutions or crypto- asset service providers at the highest level of consolidation in the Union, which is under direct supervision by the Authority pursuant to Article 13;
Amendment 333 #
2021/0240(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 5 – point a a (new)
Article 2 – paragraph 1 – point 5 – point a a (new)
(aa) a competent authority as defined in Article 3 (1) point (22) of Regulation [please insert reference to Regulation on Markets in Crypto-assets];
Amendment 354 #
2021/0240(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point a
Article 5 – paragraph 1 – point a
(a) monitor and respond to developments across the internal market and assess threats, vulnerabilities and risks in relation to ML/TF;
Amendment 355 #
2021/0240(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point b
Article 5 – paragraph 1 – point b
(b) monitor and respond to developments in third countries and assess threats, vulnerabilities and risks in relation to their AML/CFT systems;
Amendment 397 #
2021/0240(COD)
Proposal for a regulation
Article 5 – paragraph 3 – point g c (new)
Article 5 – paragraph 3 – point g c (new)
(gc) establish and maintain an updated public register on shell banks and non- compliant crypto-asset service providers;
Amendment 447 #
2021/0240(COD)
Proposal for a regulation
Article 8 – paragraph 2 – introductory part
Article 8 – paragraph 2 – introductory part
2. When developing the supervisory methodology the Authority shall make a distinction between obliged entities based on the nature of the money laundering and terrorist financing risks they are exposed to and the sectors in which they operate. The supervisory methodology shall contain at least the following elements:
Amendment 449 #
2021/0240(COD)
Proposal for a regulation
Article 8 – paragraph 2 – point b
Article 8 – paragraph 2 – point b
(b) approaches to supervisory review of money laundering and terrorist financing risk self-assessments of obliged entities;
Amendment 477 #
2021/0240(COD)
Proposal for a regulation
Article 11 – paragraph 2 a (new)
Article 11 – paragraph 2 a (new)
2a. Non-AML authorities shall share with the Authority any additional information, within the boundaries of their mandate and tasks, as well as the respective and relevant national law, deemed relevant to the prevention and countering of the use of the financial system for the purpose of money laundering or terrorist financing.
Amendment 504 #
2021/0240(COD)
Proposal for a regulation
Article 11 a (new)
Article 11 a (new)
Article 11a Public register on shell banks and non- compliant crypto-asset service providers 1. The Authority shall establish and maintain a public register of shell banks and non-compliant crypto-asset service providers operating within and outside the Union. 2. The list shall be indicative and non-exhaustive, based on information provided by national supervisors and other relevant authorities, the Commission and obliged entities. 3. The Authority shall review the public register referred to in paragraph 1, taking into account any changes in circumstances concerning the entities included in the list or any information brought to its attention.
Amendment 547 #
2021/0240(COD)
Proposal for a regulation
Article 12 – paragraph 3 – point i a (new)
Article 12 – paragraph 3 – point i a (new)
(ia) crypto-asset service providers;
Amendment 571 #
2021/0240(COD)
Proposal for a regulation
Article 12 – paragraph 4 – point b – point iii a (new)
Article 12 – paragraph 4 – point b – point iii a (new)
(iiia) volume of products or transactions that favour anonymity, including anonymity-enhanced cryptocurrency (AEC) or privacy coins;
Amendment 575 #
2021/0240(COD)
Proposal for a regulation
Article 12 – paragraph 4 – point c – point i
Article 12 – paragraph 4 – point c – point i
(i) the annual volume of correspondent banking or crypto-asset services provided by Union financial sector entities in third countries;
Amendment 578 #
2021/0240(COD)
Proposal for a regulation
Article 12 – paragraph 4 – point c – point ii
Article 12 – paragraph 4 – point c – point ii
(ii) the number and share of correspondent banking crypto-asset clients from third countries with structural weaknesses in their AML systems identified by global standard setting bodies or with little to no regulation regarding crypto-assets;
Amendment 579 #
2021/0240(COD)
Proposal for a regulation
Article 12 – paragraph 4 – point c – point ii a (new)
Article 12 – paragraph 4 – point c – point ii a (new)
(iia) the number and share of correspondent banking or crypto-asset clients from third countries identified as having significant levels of corruption or other criminal activity or as being providers of financial secrecy by credible sources or acknowledged processes;
Amendment 580 #
2021/0240(COD)
Proposal for a regulation
Article 12 – paragraph 4 – point c – point iii
Article 12 – paragraph 4 – point c – point iii
(iii) the volume of activity of virtualcrypto- assets service providers registered or licensed in third countries and operating as financial institutions in the Union.
Amendment 587 #
2021/0240(COD)
Proposal for a regulation
Article 12 – paragraph 5 – introductory part
Article 12 – paragraph 5 – introductory part
5. The Authority shall develop draft regulatory technical standards setting out the methodology with the benchmarks referred to in paragraph 4 for classifying the inherent risk profile of any cross-border credit or financial institution or crypto- asset service provider in each Member State it operates in as low, medium, substantial or high.
Amendment 614 #
2021/0240(COD)
Proposal for a regulation
Article 13 – paragraph 1 c (new)
Article 13 – paragraph 1 c (new)
Amendment 725 #
2021/0240(COD)
Proposal for a regulation
Article 28 – paragraph 1
Article 28 – paragraph 1
1. The Authority shall perform periodic assessments of some or all of the activities of one, several, or all financial supervisors, including the assessment of their tools and resources to ensure high level supervisory standards and practices. The assessments shall include a review of the application of the AML/CFT supervisory methodology developed pursuant to Article 8 and shall cover all financial supervisors in a single assessment cycle. The length of each assessment cycle shall be determined by the Authority and shall not exceed seven years. At the end of each assessment cycle, the Authority shall present its findings to the European Parliament and the Council.
Amendment 792 #
2021/0240(COD)
Proposal for a regulation
Article 30 a (new)
Article 30 a (new)
Amendment 793 #
2021/0240(COD)
Proposal for a regulation
Article 30 b (new)
Article 30 b (new)
Article 30b Requests of direct information to non- selected obliged entities 1. The supervisory authorities shall provide the Authority with all necessary information regarding selected and non- selected obliged entities in order for the Authority to carry out its duties, provided that the supervisory authorities have legal access to the relevant information. 2. Where information is not available or is not made available under paragraph 1 in a timely manner, the Authority may address a request directly to the relevant obliged entities or associations of obliged entities. The request shall be duly justified, include the legal basis of the request, specify the information required and fix a reasonable time limit within which the information is to be provided. The national authority shall receive a copy of the request. The addressees of such a request shall provide the Authority, within the time limit specified in the request, with clear, accurate and complete information, provided they have legal access to the relevant information. Upon a duly justified request to the Authority, the addressees may ask for a single extension of the deadline. 3. The use of confidential information and the modalities with regard to information requests pursuant of Article 30 shall be governed by the provisions set out in Article 16(4) and Article 16(5).
Amendment 795 #
2021/0240(COD)
Proposal for a regulation
Chapter II – Section 5 – title
Chapter II – Section 5 – title
5 OVERSIGHTINDIRECT SUPERVISION OF NON- FINANCIAL SECTOR
Amendment 802 #
2021/0240(COD)
Proposal for a regulation
Article 31 – paragraph 3 – point b
Article 31 – paragraph 3 – point b
(b) the effectiveness and the degree of convergence reached in the application of Union law and in supervisory practice, and the extent to which the supervisory practice achieves the objectives set out in Union law, and the extent to which the indirect supervision of the non-financial sector serves the purposes of combating money laundering and terrorist financing risks;
Amendment 807 #
2021/0240(COD)
Proposal for a regulation
Article 31 – paragraph 4
Article 31 – paragraph 4
4. The Authority shall produce a report setting out the results of the peer review. That peer review report shall be prepared by the peer review committee and adopted by the Executive Board, having received the observations of the General Board in supervisory composition as to the consistency of application of the methodologystaff of the Authority, in cooperation with the relevant staff of the non-financial supervisors, and adopted by the Executive Board, which shall share it in a timely manner with other pe non-financial supervisor under review reports. The report shall explain and indicate the follow-up measures that are deemed appropriate, proportionate and necessary as a result of the peer review. Those follow-up measures may be adopted in the form of guidelines and recommendations pursuant to Article 3 and opinions pursuant to Article 44. The non- financial supervisors shall make every effort to comply with any guidelines and recommendations issued, in accordance with Article 43. The Authority shall transmit such reports without delay, on a confidential basis, at least to the European Parliament.
Amendment 809 #
2021/0240(COD)
Proposal for a regulation
Article 31 – paragraph 5
Article 31 – paragraph 5
5. The Authority shall publish the findings of the peer review on its website and submit an opinion to the Commission where, having regard to the outcome of the peer review or to any other information acquired by the Authority in carrying out its tasks, it considers that further harmonisation of Union rules applicable to obliged entities in the non-financial sector or to non-financial supervisors would be necessary from the Union’s perspective. The Authority's opinion shall also reflect on the pertinence of reinforcing its powers to oversight the non-financial sector.
Amendment 810 #
2021/0240(COD)
Proposal for a regulation
Article 31 – paragraph 6
Article 31 – paragraph 6
6. The Authority shall provide a follow-up report two years after the publication of the peer review report. The follow-up report shall be prepared by the peer review committee and adopted by the Executive Board, having received the observations of the General Board in supervisory composition onstaff of the Authority, in cooperation with the relevant staff of the non-financial supervisors, and adopted by the Executive Board, which shall share it in a timely manner with the cnonsistency with other pe-financial supervisor under review reports. The follow-up report shall include an assessment of the adequacy and effectiveness of the actions undertaken by the non-financial supervisors that were subject to the peer review in response to the follow-up measures of the peer review report. The Authority shall publish the findings of the follow-up report on its website.
Amendment 813 #
2021/0240(COD)
Proposal for a regulation
Article 31 – paragraph 7
Article 31 – paragraph 7
7. For the purposes of this Article, the Executive Board shall adopt a peer review work plan every two years, which shall reflect the lessons learnt from the past peer review processes and discussions held in the General Board in supervisory composition. The peer review work plan shall constitute a separate part of the annual and multiannual working programme and shall be included in the Single Programming Document. In case of urgency or unforeseen events, tThe peer review work plan shall take into account geographical balance. The Authority may decide to carry ouem that additional peer reviews. are required, and may establish a new one at its own discretion;
Amendment 817 #
2021/0240(COD)
Proposal for a regulation
Article 31 a (new)
Article 31 a (new)
Amendment 832 #
2021/0240(COD)
Proposal for a regulation
Article 32 a (new)
Article 32 a (new)
Amendment 5 #
2021/0227(BUD)
Draft opinion
Paragraph 1
Paragraph 1
1. Calls for the 2022 budget to contribute to the fulfilment of the priorities outlined in the European SemesterUnion’s recovery strategy, the Recovery and Resilience Facility and the Annual Sustainable Growth Strategy, while allowing to deliver the European Green Deal, the European Pillar of Social Rights and the United Nations Sustainable Development Goals;
Amendment 11 #
2021/0227(BUD)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Supports the “whatever it takes” approach taken by European Institutions and Member States, supported by both monetary and budgetary tools; highlights that businesses and households have received needed financial support since the COVID-19 pandemic broke out. The magnitude of the COVID-19-related emergency measures is sizeable, at an estimated 4% of GDP in both 2020 and 2021 in the Union as a whole, including emergency investment in health-care to address the COVID-19 pandemic, and other measures like transfers to firms and workers most hit by the crisis; considers that such support will remain necessary until the spread of the pandemic is not fully under control and in order to support Member States’ efforts to recover from the crisis and strengthen their economic and social resilience;
Amendment 20 #
2021/0227(BUD)
Draft opinion
Paragraph 3
Paragraph 3
3. Emphasises the importance ofCalls for sufficient resources for the coordination and surveillance of macroeconomic policies,of macroeconomic, social and environmental policies; highlights that the new framework for anti-money laundering, and countering financial crime and for enforcement of the economic governance frameworkwould require new resources to deliver adequate enforcement and supervision;
Amendment 27 #
2021/0227(BUD)
Draft opinion
Paragraph 4
Paragraph 4
4. Underlines the necessity to boost sustainable economic growth, while pursuing reforms to modernise European economies and enhance their competitiveness, as well as facilitating access to finance for SMEs; recalls the challenges related to sustainable development during a climate crisis and highlights the opportunities generated by the European Green Deal; calls for the 2022 Union budget to facilitate access to funding that supports companies to achieve the Union objective of climate neutral economy;
Amendment 29 #
2021/0227(BUD)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Welcomes the adoption of the InvestEU program which includes EUR 26 000 000 000 guarantee aiming at levelling up EUR 372 000 000 000 of investments and hope to fully enable further risk-taking in fulfilling the Union policy priorities; insists that in 2022, InvestEU Fund should prioritise a facilitated access to finance for small and medium-sized enterprises (SMEs) as well as financing social investment and skills to maximize the Fund's contribution to a sustainable recovery, oriented towards greening and digital transitions; stresses that InvestEU should strive to address regional disparities, namely those resulting from long-term investment deficits and geographical disadvantages, and enhance economic and social convergence and cohesion;
Amendment 32 #
2021/0227(BUD)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Welcomes the extension of the State Aid Temporary Framework until 31 December 2021 in the context of the COVID-19 crisis; calls for reinforced resources to ensure full and fast application of the Union competition policy; encourages Member States and the EU via its new recovery instrument, Recovery and Resilience Facility, to make full use of the State Aid Temporary Framework regarding the directly COVID-19-related financial needs; expects that the Commission would also monitor all schemes approved under the Temporary Framework and their impact on the functioning of the internal market;
Amendment 35 #
2021/0227(BUD)
Draft opinion
Paragraph 5
Paragraph 5
5. Calls for the budget to contribute to fulfilling economic policy priorities like the completion of the Capital Markets Union, with aim to improve fostering an investment environment and access to finance for all market participants, but particularly SMEs and start-ups, while granting further investment possibilities for retail investors, namely in sustainable areas;
Amendment 41 #
2021/0227(BUD)
Draft opinion
Paragraph 6
Paragraph 6
6. Calls for adequate financial and human resources for the European Supervisory Authorities (ESAs) in view of their newly assigned tasks and powers deriving from the revision of the ESA Regulations (by Regulation (EU) 2019/2175); highlights that developments in the fields of sustainable finance, fintech, anti-money laundering, cyber resilience, payments and non-bank financial intermediation have or will entail new competences and tasks for the ESAs, which should be matched by adequate resources; points out in particular that the adoption of legislation pertaining to EU central clearing counterparties (CCPs) has resulted in upgraded mandates and tasks for the European Securities and Markets Authority (ESMA), but has not been mirrored by additional budget, which could put a strain on ESMA’s ability to deliver on its CCPs supervisory and regulatory agenda; takes further note of the European Banking Authority’s (EBA) second mandate to build a database on anti-money laundering supervision, expected to be developed in 2021, and to enhance cooperation and exchange of information across European authorities and calls on resources to be adequately provided; highlights that both the ‘Regulation on Markets in Crypto Assets' (MiCA), the DLT pilot regime Regulation and the ‘Digital Operational Resilience Act' (DORA) would likely generate new competences for the ESAs;
Amendment 47 #
2021/0227(BUD)
Draft opinion
Paragraph 7
Paragraph 7
7. Emphasises that funding to accounting entities and tax authorities should continue, in particular to support them in the fight against tax fraud and tax evasion, and to promote transparency and certainty for tax payer. Those entities should be accountable to the European Parliament.
Amendment 51 #
2021/0227(BUD)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Welcomes the launch of the EU Tax and Financial Crimes Observatory as a preparatory action; considers such Observatory as a useful contribution to both the needed democratic debate and to decision makers; calls on the Commission to make proposals to perpetuate the Observatory after 2022;
Amendment 53 #
2021/0227(BUD)
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7 b. Recalls that the introduction of a basket of new own resources was integrated into the Interinstitutional cooperation on a roadmap towards the introduction of new own resources; Insists that a carbon border adjustment mechanism and a digital levy should be adopted and implemented within a timeline allowing to contribute to NextGenerationEU; considers that a Financial Transaction Tax and a share of a future “Business in Europe, Framework for Income Taxation (BEFIT)” should also rapidly be included into the new basket of EU own resources;
Amendment 18 #
2021/0214(COD)
Proposal for a regulation
Recital 13 a (new)
Recital 13 a (new)
(13 a) The revenues generated should be attributed to the Union budget as an own resource in accordance with the procedures set out in Article 311 TFEU, pursuant to Annex 2 of the legally binding Interinstitutional Agreement between the European Parliament, the Council and the Commission of16 December 20201a and as proposed by the Commission on 22 December2021 in its legislative proposal to amend the Own Resources Decision1b. The CBAM-based own resource would thus be part of a basket of new own resources whose total proceeds should be sufficient to cover the level of overall expected expenditure for the repayment costs of the principal and interests of the borrowing incurred under the Next Generation EU instrument, while respecting the principle of universality. _________________ 1a Interinstitutional Agreement of 16 December 2020 between the European Parliament, the Council of the European Union and the European Commission on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap for the introduction of new own resources (OJ L 433I, 22.12.2020, p. 28.). 1b COM(2021)0570 final.
Amendment 21 #
2021/0214(COD)
Proposal for a regulation
Recital 13 b (new)
Recital 13 b (new)
(13 b) The principle of universality implies that there can be no earmarking or assignment of any particular own resource to cover a specific type of expenditure. The CBAM together with the ETS-based own resource and the one based on Pillar One of the OECD/G20 agreement further embed EU policy priorities such as the European Green Deal and the Union’s contribution to fair taxation in the revenue side of the EU budget to provide EU added value. New own resources should contribute to climate mainstreaming, improve the resilience of the Union budget as a tool for investments and guarantees and - by diversifying the number of revenue sources - mitigate the risks to the EU budget on the revenue side and alleviate the burden of repayment on national budgets.
Amendment 33 #
2021/0214(COD)
Proposal for a regulation
Recital 55 a (new)
Recital 55 a (new)
(55 a) To support least developed countries' efforts towards the de- carbonisation of their manufacturing industries support should be financed under the relevant expenditure programmes in the Union budget, including through reinforcing climate spending in the Union budget’s, such as the relevant geographic and thematic programmes of the Neighbourhood, Development and International Cooperation Instrument established by Regulation (EU) 2021/947 of the European Parliament and of the Council.1a _________________ 1a Regulation (EU) 2021/947 of the European Parliament and of the Council of 9 June 2021 establishing the Neighbourhood, Development and International Cooperation Instrument – Global Europe, amending and repealing Decision No 466/2014/EU of the European Parliament and of the Council and repealing Regulation (EU) 2017/1601 of the European Parliament and of the Council and Council Regulation (EC, Euratom) No 480/2009 (OJ L 209, 14.6.2021, p. 1).
Amendment 36 #
2021/0214(COD)
Proposal for a regulation
Recital 61 a (new)
Recital 61 a (new)
(61 a) Underlines the importance to avoid an excessive administrative burden and costs for the implementation of the CBAM mechanism on both the Commission and the Member States, and to keep the complexity of the system as low as possible while ensuring its proper functioning.
Amendment 74 #
2021/0214(COD)
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6 a) Global warming already reached 1.18°C in December 2020, leading to world wide draughts, floods, storms and heatwaves. If we continue at the current trend, global warming will reach 1.5°C in 2034. The outcome of the COP 26 in Glasgow, lacks the needed ambition and stronger commitments to turn the tide. The new announcements and updates of the NDCs after Glasgow will reduce temperature rises only by 0.1%, still leading to a disastrous estimated temperature rise between 1.8°C and 2.9°C by 2100;
Amendment 80 #
2021/0214(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) The initiative for a carbon border adjustment mechanism (‘CBAM’) is a part of the ‘Fit for 55 Package’. That mechanism is to serve as an essential element of the EU toolbox to meet the objective of a climate-neutral Union by 2050 in line with the Paris Agreement by addressing risks of carbon leakage resulting from the increased Union climate ambition. The CBAM should serve as one element in the EU’s comprehensive strategy towards global sustainable trade and the ambition to reduce global carbon emissions;
Amendment 84 #
2021/0214(COD)
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9 a) It is necessary to come forward with a holistic and comprehensive impact assessment of the entire fit for 55 package. Stakeholders, both within and outside of the EU borders, will not only feel the consequences of the separate proposals, but will also experience combined effects of the various proposals together, as they are all interlinked. Therefore, aside from the 13 separate impact assessments already carried out, an impact assessment of the entire package as a whole should be performed.
Amendment 85 #
2021/0214(COD)
Proposal for a regulation
Recital 1
Recital 1
(1) The Commission has, in its communication on the European Green Deal31 , set out a new growth strategy that aims to transform the Union into a fair and prosperous society, with a modern, resource-efficient and competitive economy, where there are no net emissions (emissions after deduction of removals) of greenhouse gases (‘GHG emissions’) in 2050 and where economic growth is decoupled from resource use. The European Green Deal also aims to protect, conserve and enhance the EU’s natural capital, and protect the health and well- being of citizens and future generations from environment-related risks and impacts. At the same time, that transformation must be just and inclusive, leaving no one behind. The Commission also announced in its EU Action Plan: Towards Zero Pollution for Air, Water and Soil32 the promotion of relevant instruments and incentives to better implement the polluter pays principle as set out in Article 191(2) of the Treaty on the Functioning of the European Union (‘TFEU’) and thus complete the phasing out of ‘pollution for free’ with a view to maximising synergies between decarbonisation and the zero pollution ambition. _________________ 31 Communication from the Commission of 11 December 2019 on the European Green Deal (COM(2019) 640 final). 32 Communication from the Commission of 12 May 2021 on Pathway to a Healthy Planet for All (COM(2021) 400).
Amendment 87 #
2021/0214(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Existing mechanisms to address the risk of carbon leakage in sectors or sub- sectors at risk of carbon leakage are the transitional free allocation of EU ETS allowances and financial measures to compensate for indirect emission costs incurred from GHG emission costs passed on in electricity prices respectively laid down in Articles 10a(6) and 10b of Directive 2003/87/EC. However, free allocation under the EU ETS and indirect cost compensation systems weakens the price signal that the system provides for the installations receiving ithem compared to full auctioning and thus affectselectricity pricing without compensation and thus lower the incentives for investment into further abatement of emissions. Therefore, to promote further emission reductions in the industrial and power sectors, free allocation and indirect cost compensation shall be phased out as soon as possible and following at least the same pattern as the gradual phase in of CBAM certificates, in order to respect WTO legal principles of non-discrimination and not to distort existing trade patterns to the Union's advantage;
Amendment 97 #
2021/0214(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) As long as a significant number of the Union’s international partners have policy approaches that do not result in the same level of climate ambition and action in mitigating climate change, there is a risk of carbon leakage. Carbon leakage occurs if, for reasons of costs related to climate policies, businesses in certain industry sectors or subsectors were to transfer production to other countries that do not tax GHG emissions or tax at a lower rate or imports from those countries would replace equivalent but less GHG emissions intensive products. That could lead to an increase in their total emissions globally, thus jeopardising the reduction of GHG emissions that is urgently needed if the world is to keep the global average temperature to well below 2 °C above pre- industrial levels. The risk of carbon leakage is particularly prevalent in trade- exposed and carbon-intensive industrial sectors.
Amendment 107 #
2021/0214(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) The initiative for a carbon border adjustment mechanism (‘CBAM’) is a part of the ‘Fit for 55 Package’. That mechanism is to serve as an essential element of the EU toolbox to meet the objective of a climate-neutral Union by 2050 in line with the Paris Agreement by addressing risks of carbon leakage resulting from the increased Union climate ambition whilst ensuring a sustainable level playing field and by incentivising more ambitious climate action internationally.
Amendment 109 #
2021/0214(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) While the objective of the CBAM is to lower global carbon emissions by preventing the risk of carbon leakage, this Regulation would also encourage the use of more GHG emissions-efficient technologies by producers from third countries, so that less emissions per unit of output are generated. Special attention, intensive dialogue, administrative, technical and financial support is needed regarding LDCs, empowering them to reach the green transition in a sustainable and fair way and enabling them to be full- fledged participators in global sustainable trade;
Amendment 128 #
2021/0214(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) The CBAM seeks to replace these existing mechanisms by addressing the risk of carbon leakage in a different way, namely by ensuring equivalent carbon pricing for imports and domestic products. To ensure a gradual transition from the current system of free allowances to the CBAM, the CBAM should be progressively phased in while free allowances in sectors covered by the CBAM are phased out. The combined and transitional application of EU ETS allowances allocated free of charge and of the CBAM should in no case result in more favourable treatment for Union goods compared to goods imported into the customs territory of the Union. This gradual transition shall be supported by a review mechanism in which the Commission assesses the gradual implementation of the instrument, including the need for its scope extension.
Amendment 141 #
2021/0214(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) The GHG emissions to be regulated by the CBAM should correspond to those GHG emissions covered by Annex I to the EU ETS in Directive 2003/87/EC, namely carbon dioxide (‘CO2’) as well as, where relevant, nitrous oxide (‘N2O’) and perfluorocarbons (‘PFCs’). The CBAM should initiaapply to direct emissions as welly applys to indirect emissions of those GHG from the production of goods up to the time of import into the customs territory of the Union, and after the end of a transition period and upon further assessment, as well to indirect emissions, mirroring the scope of the EU ETS.mirroring the scope of the EU ETS and leading to as equal carbon costs as possible for domestic production and imports;
Amendment 141 #
2021/0214(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) While the objective of the CBAM is to prevent the risk of carbon leakage, this Regulation would also encourage the deployment and use of more GHG emissions-efficient technologies by producers from third countries, so that less emissions per unit of output are generated.
Amendment 162 #
2021/0214(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) In order to exclude from the CBAM third countries or territories fully integrated into, or linked, to the EU ETS and where the carbon costs are equivalent to the ones under the EU ETS, in the event of future agreements, the power to adopt acts in accordance with Article 290 of TFEU should be delegated to the Commission in respect of amending the list of countries in Annex II. Conversely, those third countries or territories should be excluded from the list in Annex II and be subject to CBAM whereby they do not effectively charge the ETS price on goods exported to the Union.
Amendment 185 #
2021/0214(COD)
Proposal for a regulation
Recital 24
Recital 24
(24) In terms of sanctions, Member States should apply penalties to infringements of this Regulation and ensure that they are implemented. The amount of those penalties should be identical to penalties currently applied within the Union in case of infringement of EU ETS according to Article 16(3) and (4) of Directive 2003/87/EC. Penalties to infringements of this Regulation, including for attempts at circumvention, should be dissuasive.
Amendment 191 #
2021/0214(COD)
Proposal for a regulation
Recital 28
Recital 28
(28) Whilst the ultimate objective of the CBAM is a broad product coverage, it would be prudent to start with a selected number of sectors with relatively homogeneous products where there is a risk of carbon leakage. Union sectors deemed at risk of carbon leakage are listed in Commission Delegated Decision 2019/70842 . The Commission should set up a review mechanism in order to better assess the broadening of the broad product coverage, including downstream products covered by this Regulation. _________________ 42 Commission Delegated Decision (EU) 2019/708 of 15 February 2019 supplementing Directive 2003/87/EC of the European Parliament and of the Council concerning the determination of sectors and subsectors deemed at risk of carbon leakage for the period 2021 to 2030 (OJ L 120, 8.5.2019, p. 2).
Amendment 201 #
2021/0214(COD)
Proposal for a regulation
Recital 39 a (new)
Recital 39 a (new)
(39a) The declaration should be harmonised with a common template and based on standardised carbon accounting methodologies and reporting requirements for embedded emissions in order to ensure a more effective and less contentious implementation of the CBAM.
Amendment 202 #
2021/0214(COD)
Proposal for a regulation
Recital 39 b (new)
Recital 39 b (new)
(39b) While competent authorities are responsible to handle requests for authorisations and to manage national registries and CBAM certificates, all the necessary information and data should be transmitted to the Commission through a central registry database. The Commission has the responsibility to ensure the coordination of national registries inclusive of accounts of authorised declarants and accredited verifiers, it should act as a central administration and it has the power to request to competent authorities whenever it considers relevant information to tackle practices of circumvention, to avoid risks of mismanagement of declarations and CBAM certificates as well as fraud.
Amendment 203 #
2021/0214(COD)
(42) The system should allow operators of production installations in third countries to register in a central database and to make their verified embedded GHG emissions from production of goods available to authorised declarants. An operator should be able to choose not to have its name, address and contact details in the central database made accessible to the public.
Amendment 213 #
2021/0214(COD)
Proposal for a regulation
Recital 53
Recital 53
(53) In light of the above, an extensive dialogue with third countries should continue and t, trade partners, EU’s and third country’s industries, federations, international organisations, NGO’s, think tanks and all other involved stakeholders should continue in order to boost global climate action and maximize engagement and the chances of the CBAM succeeding. There should be space for cooperation and solutions that could inform the specific choices that will be made on the details of the design of the measure during the implementation, in particular during the transitional period.
Amendment 216 #
2021/0214(COD)
Proposal for a regulation
Recital 52
Recital 52
(52) The Commission should evaluate the application of this Regulation before the end of the transitional period and report to the European Parliament and the Council. The report of the Commission should in particular focus on possibilities to enhance climate actions towards the objective of a climate neutral Union by 2050 whilst preventing distortion of competition in the EU and global markets. The Commission should, as part of that evaluation, initiate collection of information necessary to possibly extend the scope to indirect emissions, as well as to other goods and services at risk of carbon leakage, such as downstream products using goods initially covered by this Regulation, and to develop methods of calculating embedded emissions based on the environmental footprint methods47 . The report should be based upon a review mechanism that assesses, in particular, the implementation of the Regulation vis- à-vis its objectives and the governance system. If appropriate, the report should be accompanied by legislative proposals whose entry into force should be consistent with the start of the implementation of CBAM. _________________ 47 Commission Recommendation 2013/179/EU of 9 April 2013 on the use of common methods to measure and communicate the life cycle environmental performance of products and organisations (OJ L 124, 4.5.2013, p. 1).
Amendment 228 #
2021/0214(COD)
Proposal for a regulation
Recital 54
Recital 54
(54) The Commission should strive to engage in an even handed manner and in line with the international obligations of the EU, with the third countries whose trade to the EU is affected by this Regulation, to explore possibilities for dialogue and cooperation with regard to the implementation of specific elements of the Mechanism set out this Regulation and related implementing acts. It should also explore possibilities for concluding agreements to take into account their carbon pricing mechanism and their decarbonisation policies.
Amendment 232 #
2021/0214(COD)
Proposal for a regulation
Recital 55
Recital 55
(55) As the CBAM aims to encourage cleaner production processes, the EU stands ready to work with low and middle- income countries towards the de- carbonisation of their manufacturing industries. Moreover, the Union should support less developed countries with the necessary technical assistance in order to facilitate their adaptation to the new obligations established by this regulation. The Union should make use of the Union policies and the Union budget to support those action, if appropriate.
Amendment 233 #
2021/0214(COD)
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
1. This Regulation establishes a carbon border adjustment mechanism (the ‘CBAM’) for addressing greenhouse gas emissions embedded in the goods referred to in Annex I, upon their importation into the customs territory of the Union, in order to reduce global carbon emissions by preventing the risk of carbon leakage.
Amendment 233 #
2021/0214(COD)
Proposal for a regulation
Recital 55 a (new)
Recital 55 a (new)
(55a) The European Green Deal and the new emission reductions targets will necessitate massive investments for a sustainable and fair transition. In this regard, keeping competitiveness of the EU industry in the decarbonisation efforts is essential not only for the sake of keeping jobs and a prosperous European economy. The Union and Member States should make use of its policies and budgets to provide the incentives to boost the competitiveness of low-carbon exports through namely the support to innovation.
Amendment 238 #
2021/0214(COD)
Proposal for a regulation
Recital 55 b (new)
Recital 55 b (new)
(55b) On 16 December 2020, the European Parliament, the Council and the Commission concluded the Interinstitutional agreement on budgetary discipline, cooperation on budgetary matters and sound financial management as well as on new own resources, including a roadmap towards the introduction of new own resources (IIA). The repayment of the principal of borrowed funds, by the Commission on behalf of the Union, to be used for expenditure under the European Union Recovery Instrument and the related interest due will have to be financed by the general budget of the Union, including by sufficient proceeds from new own resources introduced after 2021. Therefore, on 22 December 2021, the Commission proposed to amend the Own Resources Decision so that 75% of the revenues generated by a carbon border adjustment mechanism become an own resource for the EU budget. It is the responsibility of Member States to collect revenues from the sale of carbon border adjustment mechanism certificates.
Amendment 244 #
2021/0214(COD)
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
1. This Regulation establishes a carbon border adjustment mechanism (the ‘CBAM’) for addressing greenhouse gas emissions embedded in the goods referred to in Annex I, upon their importation into the customs territory of the Union, in order to prevent the risk of carbon leakage and safeguard fair and undistorted competition, ensuring a sustainable level playing field for all.
Amendment 250 #
2021/0214(COD)
Proposal for a regulation
Article 1 – paragraph 3
Article 1 – paragraph 3
3. The mechanism will progressively become an alternative toreplaces the mechanisms established under Directive 2003/87/EC to prevent the risk of carbon leakage, notably the allocation of allowances free of charge in accordance with Article 10a of that Directive.
Amendment 259 #
2021/0214(COD)
Proposal for a regulation
Article 2 – paragraph 1
Article 2 – paragraph 1
1. This Regulation applies to goods as listed in Annex I, originating in a third country, when those goods, or processed products from those goods as resulting from the inward processing procedure referred to in Article 256 of Regulation (EU) No 952/2013 of the European Parliament and of the Council53 , are imported into the customs territory of the Union. Annex I shall be regularly assessed and potentially revised to take into account the establishment of a fair level playing field as referred in Article 30. _________________ 53 Regulation (EU) No 952/2013 of the European Parliament and of the Council of 9 October 2013 laying down the Union Customs Code (OJ L 269, 10.10.2013, p. 1).
Amendment 271 #
2021/0214(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 15 a (new)
Article 3 – paragraph 1 – point 15 a (new)
(15 a) ‘indirect emissions’ mean emissions from the production of electricity, heating and cooling, which is consumed during the production processes of goods.
Amendment 273 #
2021/0214(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 18
Article 3 – paragraph 1 – point 18
(18) ‘CBAM certificate’ means a certificate, common to all Members States, in electronic format corresponding to one tonne of embedded emissions in goods;
Amendment 274 #
2021/0214(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 16
Article 3 – paragraph 1 – point 16
(16) ‘embedded emissions’ mean direct emissions released during the production of goods and inputs of CBAM products into those goods, as well as indirect emissions from the production of electricity, heating and cooling consumed during the production of goods, calculated pursuant to the methods set out in Annex III;
Amendment 278 #
2021/0214(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 28
Article 3 – paragraph 1 – point 28
Amendment 281 #
2021/0214(COD)
Proposal for a regulation
Article 5 – paragraph 3 – point h a (new)
Article 5 – paragraph 3 – point h a (new)
(ha) the name and contact details of the third country competent authority in charge of collecting the carbon price paid by the operator in that third country, when relevant;
Amendment 286 #
2021/0214(COD)
Proposal for a regulation
Article 5 – paragraph 6
Article 5 – paragraph 6
6. The Commission is empowered to adopt implementing acts, concerning the single standard format of the application and the delays and procedure to be followed by the competent authority when processing applications for authorisation in accordance with paragraph 1 and the rules for identification by the competent authority of the declarants for the importation of electricity. The format of the application shall allow for machine readability in order to ease the exchange of information across Member States. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 29(2).
Amendment 287 #
2021/0214(COD)
Proposal for a regulation
Article 5 – paragraph 6 a (new)
Article 5 – paragraph 6 a (new)
6a. Competent authorities shall submit the standardised declaration form to a national registry and they should set up individual accounts of authorised declarants. Once the information is transmitted to a central registry, the Commission may request to remaining competent authorities any proof regarding the information established in paragraph 3(d).
Amendment 299 #
2021/0214(COD)
Proposal for a regulation
Article 8 – paragraph 3 – introductory part
Article 8 – paragraph 3 – introductory part
3. The Commission is empowered to adopt implementing acts concerning the principles of verification referred to in paragraph 1 as regards the possibility to waiveaccuracy of the information in the CBAM declaration, the obligation for the verifier to visit the installation where relevant goods are produced and the obligation to set thresholds for deciding whether misstatements or non-conformities are material and concerning the supporting documentation needed for the verification report.
Amendment 301 #
2021/0214(COD)
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The authorised declarant shall keep records of the documentation, certified by an independent personaccredited verifier, required to demonstrate that the declared embedded emissions were subject to a carbon price in the country of origin of the goods and keep evidence of the proof of the actual payment for that carbon price which should not have been subject to an export rebate or any other form of compensation on exportation.
Amendment 310 #
2021/0214(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. The Commission shall, upon request by an operator of an installation located in a third country, register the information on that operator and on its installation in a central registry database referred to in Article 14(4) accessible by national competent authorities.
Amendment 311 #
2021/0214(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point c a (new)
Article 10 – paragraph 2 – point c a (new)
(ca) the name and contact details of the third country competent authority in charge of collecting the carbon price paid by the operator in that third country, when relevant;
Amendment 316 #
2021/0214(COD)
Proposal for a regulation
Article 10 – paragraph 6
Article 10 – paragraph 6
6. The records referred to in paragraph 5, point (c), shall be sufficiently detailed to enable the verification in accordance with paragraph 5, point (b), and to enable any competent authority to verify and review, in accordance with Article 19(1), the CBAM declaration made by an authorised declarant to whom the relevant information was disclosed in accordance with paragraph 8.
Amendment 326 #
2021/0214(COD)
Proposal for a regulation
Article 11 – paragraph 1 a (new)
Article 11 – paragraph 1 a (new)
1a. Competent authorities shall set up national registries with accounts of authorised declarants. These accounts shall be connected and interchangeable with all competent authorities and automatically integrated in a central registry system managed by the Commission.
Amendment 328 #
2021/0214(COD)
Proposal for a regulation
Article 11 – paragraph 2
Article 11 – paragraph 2
2. Member States shall require that competent authorities exchange any information that is essential or relevant to the exercise of their functions and duties, either automatically via the central registry database, or upon request and within a delay of 3 months, when another competent authority or the Commission issues such request for specific information related to the calculation of the CBAM certificates.
Amendment 343 #
2021/0214(COD)
Proposal for a regulation
Article 14 – title
Article 14 – title
National registries and EU central registry database
Amendment 346 #
2021/0214(COD)
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
1. The competent authority of each Member State shall establish a national registry of declarants authorised in that Member State in the form of a standardised electronic database containing the data regarding the CBAM certificates of those declarants, and to provide for confidentiality in accordance with the conditions set out in Article 13. Such a standardised electronic database shall be built to be compatible with the EU central database built by the Commission, meaning the data can be automatically uploaded into the central database.
Amendment 350 #
2021/0214(COD)
Proposal for a regulation
Article 14 – paragraph 2 – point d a (new)
Article 14 – paragraph 2 – point d a (new)
(da) new the carbon price paid in a third country for related embedded emissions;
Amendment 351 #
2021/0214(COD)
Proposal for a regulation
Article 14 – paragraph 2 – point d b (new)
Article 14 – paragraph 2 – point d b (new)
(db) the report of the accredited verifier;
Amendment 352 #
2021/0214(COD)
Proposal for a regulation
Article 14 – paragraph 2 – point d c (new)
Article 14 – paragraph 2 – point d c (new)
(dc) the procedures regarding the surrender of CBAM certificates.
Amendment 353 #
2021/0214(COD)
Proposal for a regulation
Article 14 – paragraph 3
Article 14 – paragraph 3
3. The Commission shall establish a central database that would automatically collect the information referred to in paragraph 2 which shall be automatically accessible to competent authorities of each Member States. The information in the database referred to in paragraph 2 shall be confidential unless specified otherwise in paragraph 4.
Amendment 354 #
2021/0214(COD)
Proposal for a regulation
Article 14 – paragraph 3 a (new)
Article 14 – paragraph 3 a (new)
3a. The central registry database aims to ensure an efficient and transparent management of the information provided by the authorised declarant and it shall be managed by the Commission. The Commission may ask further information to competent authorities to ensure the consistency of the information provided by the declarant and for purposes of its reports.
Amendment 355 #
2021/0214(COD)
Proposal for a regulation
Article 14 – paragraph 4
Article 14 – paragraph 4
4. The Commission shall establish a central database accessible to the public containmake the information of the central database regarding the names, addresses and contact details of the operators and the location of installations in third countries in accordance with Article 10(2). An operator may choose not to have its name, address and contact details accessible to the public.
Amendment 362 #
2021/0214(COD)
Proposal for a regulation
Article 15 – paragraph 3
Article 15 – paragraph 3
3. If irregularities are identified as a result of the controls carried out under paragraph 2, the Commission shall inform the Member State or Member States concerned for further investigation in order to correct the identified irregularities within 3 months.
Amendment 373 #
2021/0214(COD)
Proposal for a regulation
Article 16 – paragraph 4
Article 16 – paragraph 4
4. If the authorised declarant has ceased its economic activity or its authorisation was revoked, the competent authority shall close the account of that declarant after 2 years.
Amendment 377 #
2021/0214(COD)
Proposal for a regulation
Article 17 – paragraph 1 – point a
Article 17 – paragraph 1 – point a
(a) the declarant has not been involved in a serious infringement or repeated infringements of customs legislation, taxation rules and market abuse rules and has no record of serious criminal offences relating to its economic activity during the five years preceding the application; the declarant is not resident for tax purposes in, or incorporated under the laws of, jurisdictions that feature on the EU list of non-cooperative jurisdictions;
Amendment 406 #
2021/0214(COD)
Proposal for a regulation
Article 17 – paragraph 9 a (new)
Article 17 – paragraph 9 a (new)
9a. The competent authority informs the competent authorities of other Member States and the Commission on any refusal or revocation by introducing the necessary information in the national registry that shall be immediately transferred to the central database.
Amendment 407 #
2021/0214(COD)
Proposal for a regulation
Article 18 – paragraph 3
Article 18 – paragraph 3
3. The Commission is empowered to adopt delegated acts in accordance with Article 28 for the accreditation referred to in paragraph 2, specifying conditions for the control and oversight of accredited verifiers, for the withdrawal of accreditation and for mutual recognition and peer evaluation of the accreditation bodies. The Commission is empowered to adopt delegated acts specifying conditions for verifiers to be able to comply with Article 21, 32 and 34 of the Implementing Regulation (EU) No 2018/2067 related to on site visits when the site is located in a third country.
Amendment 437 #
2021/0214(COD)
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
1. The competent authority of each Member State shall, on request by a declarant authorised in that Member State, re-purchase the excess of CBAM certificates remaining on the account of the declarant in the national registry after the certificates have been surrendered in accordance with Article 22. The request to re-purchase shall be submitted by 30 June of each year when CBAM certificates were surrendered. The competent authority shall immediately inform the Commission of the request through the central registry database.
Amendment 458 #
2021/0214(COD)
Proposal for a regulation
Article 28 – paragraph 5 a (new)
Article 28 – paragraph 5 a (new)
5 a. This committee of experts shall be inclusive and consist of people who, together, are knowledgeable of all the various effects of the CBAM, representing the interests of all affected stakeholders and society as a whole.
Amendment 464 #
2021/0214(COD)
Proposal for a regulation
Article 27 – paragraph 2
Article 27 – paragraph 2
2. Practices of circumvention include situations where a change in the pattern of trade in relation to goods included in the scope of this Regulation has insufficient due cause or economic justification other than avoiding obligations as laid down in this Regulation and consist in replacing those goods with slightly modified products, which are not included in the list of goods in Annex I but belong to a sector included in the scope of this RegulationCircumvention practices are any measures that have the objective of avoiding the obligations laid down in this Regulation in order to pretend lower total amount of the CO2 emissions. This concerns in particular deliberate changes in the trade flows of goods or importation via third countries, slightly modified products, misleading information about the manufacturer or the manufacturing process, restructuring of distribution structures or merely final assembly of the goods in the EU or a third country. The Commission is to use existing European legal order when defining the circumvention offences. In particular the Union Customs Code, Article 60(2) and Article 59, and the 2015 Implementing Act, Article 33.
Amendment 468 #
2021/0214(COD)
Proposal for a regulation
Article 27 – paragraph 2
Article 27 – paragraph 2
2. Practices of circumvention include situations where a change in the pattern of trade in relation to goods included in the scope of this Regulation has insufficient due cause or economic justification other than avoiding obligations as laid down in this Regulation and consist, inter alia, in replacing those goods with slightly modified products, which are not included in the list of goods in Annex I but belong to a sector included in the scope of this Regulation or practices of resource shuffling.
Amendment 479 #
2021/0214(COD)
Proposal for a regulation
Article 27 – paragraph 3
Article 27 – paragraph 3
3. A Member State or any party affected or benefitted by the situations described in paragraph 2 may notify the Commission if it is confronted, over a two- month period compared with the same period in the preceding year with a significant decrease in the volume of imported goods included in the scope of this Regulation and an increase of volume of imports of slightly modified products, which are not included in the list of goods in Annex I. The Commission shall continually monitor any significant change of pattern of trade of goods, resource shuffling and slightly modified products at Union level.
Amendment 485 #
2021/0214(COD)
Proposal for a regulation
Article 27 – paragraph 5
Article 27 – paragraph 5
5. Where the Commission, taking into account the relevant data, reports and statistics, including when provided by the customs authorities of Member States, has sufficient reasons to believe that the circumstances referred to in paragraph 3 are occurring in one or more Member States, it is empowered to adopt delegated acts in accordance with Article 28 to supplement the scope of this Regulation in order to include slightly modified productsall the facts listed in paragraph 2 for anti-circumvention purposes.
Amendment 487 #
2021/0214(COD)
5. Where the Commission, taking into account the relevant data, reports and statistics, including when provided by the customs authorities of Member States, has sufficient reasons to believe that the circumstances referred to in paragraph 3 are occurring in one or more Member States, it is empowered to adopt delegated acts in accordance with Article 28 to supplement the scope of this Regulation in order to include slightly modified products or practices of resource shuffling for anti- circumvention purposes.
Amendment 506 #
2021/0214(COD)
Proposal for a regulation
Article 30 – paragraph 1
Article 30 – paragraph 1
1. The Commission shall collect the information necessary with a view to extending the scope of this Regulation to indirect emissions and goods other than those listed in Annex I, and develop methods of calculating embedded emissions based on environmental footprint methodsuch as downstream products using goods covered by this Regulation, notably taking into consideration both environmental risks and the necessity to maintain a sustainable level playing field, and develop methods of calculating embedded emissions based on environmental footprint methods. Particular attention should be given to goods such as organic basic chemicals, hydrogen and polymers.
Amendment 517 #
2021/0214(COD)
Proposal for a regulation
Article 30 – paragraph 2
Article 30 – paragraph 2
2. Before the end of the transitional period and every five years after that, the Commission shall present a report to the European Parliament and the Council on the application of this Regulation. The report shall contain, in particular, the assessment of the possibilities to further extend the scope of embedded emissions to indirect emissions and to other goods at risk of carbon leakage than those already covered by this Regulation, as well as an assessment of the state of implementation of the Regulation, including how it is fulfilling its objectives, and its governance system. It shall also contain the assessment of the possibility to further extend the scope to embedded emissions of transportation services as well as to consider goods further down the value chain and services that may be subject to the risk of carbon leakage in the future. The Commission can use the confidential information of the central database if relevant, but any report should ensure such data is anonymised.
Amendment 522 #
2021/0214(COD)
Proposal for a regulation
Article 30 – paragraph 3
Article 30 – paragraph 3
3. The report by the Commission shall, if appropriate, be accompanied by afurther legislative proposals.
Amendment 525 #
2021/0214(COD)
Proposal for a regulation
Article 30 – paragraph 3 a (new)
Article 30 – paragraph 3 a (new)
3a. Without prejudice to paragraph 2, the report presented before the end of the transitional period shall contain a calendar to extend the scope of this Regulation to the rest of sectors listed in Commission Delegated Decision (EU) 2019/708. Such calendar must be binding and contain specific dates for implementation.
Amendment 533 #
2021/0214(COD)
Proposal for a regulation
Article 31 – paragraph 2
Article 31 – paragraph 2
2. The Commission is empowered to adopt implementingdelegated acts laying down a calculation methodology for the reduction referred to in paragraph 1. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 29(2).
Amendment 536 #
2021/0214(COD)
Proposal for a regulation
Annex III – point 2 – introductory part
Annex III – point 2 – introductory part
2. Determination of actual direct embedded emissions for simple goods
Amendment 537 #
2021/0214(COD)
Proposal for a regulation
Annex III – point 2 – paragraph 1 – introductory part
Annex III – point 2 – paragraph 1 – introductory part
For determining the specific actual embedded emissions of simple goods produced in a given installation, only direct emissions shall be accounted for. For this purpose, the following equation is to be applied:
Amendment 537 #
2021/0214(COD)
Proposal for a regulation
Article 35 – paragraph 2 – point d
Article 35 – paragraph 2 – point d
(d) the carbon price due in a country of origin for the embedded emissions in the imported goods, which is not subject to an export rebate or other form of compensation on exportation.
Amendment 538 #
2021/0214(COD)
Proposal for a regulation
Annex III – point 2 – paragraph 3 – introductory part
Annex III – point 2 – paragraph 3 – introductory part
‘Attributed emissions’ mean the part of the installation’s direct emissions during the reporting period that are caused by the production process resulting in goods g when applying the system boundaries of the process defined by the implementing acts adopted pursuant to Article 7(6). The attributed emissions shall be calculated using the following equation:
Amendment 540 #
2021/0214(COD)
Proposal for a regulation
Article 35 – paragraph 3
Article 35 – paragraph 3
3. The competent authority shall communicate the information referred to in paragraph 2 to the Commission at the latest two months after the end of the quarter covered by a report and the information shall be available in the central registry database.
Amendment 98 #
2021/0213(CNS)
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3 a) Insular, peripheral and remote regions had little alternative but to build their economic competitiveness with the support of air transport, enabling and promoting key economic flows and other drivers of economic development enabled by efficient and affordable air services. Improved air connectivity has brought about wider economic benefits, beyond those that benefit the immediate users of air transport networks. Beyond those that could be considered direct economic benefits of aviation, air connectivity between Member States serves as an essential catalyst for economic growth and social welfare. Air linkages that connect central Member States to the insular, peripheral and remote regions continue to make a vital contribution to economic growth.
Amendment 100 #
2021/0213(CNS)
Proposal for a directive
Recital 3 b (new)
Recital 3 b (new)
(3 b) Until cleaner energy is made available through technological advances, taxpayers are encouraged to consume smartly and use transport that consumes less fossil fuels. However, until more environmentally friendly alternatives are available, the insular, peripheral and remote regions will be at an economic disadvantage compared to the central ones. Insular, peripheral and remote regions should not be discriminated against since in the near future they will not have transport alternatives that are more ecological than air transport. Citizens and businesses on islands and at the periphery should continue to benefit from equivalent connectivity opportunities as their counterparts in more central areas of the Union.
Amendment 112 #
2021/0213(CNS)
Proposal for a directive
Recital 7 a (new)
Recital 7 a (new)
(7 a) For insular regions having no connections by road, train or bridge with the European mainland, and for peripheral and remote regions, especially those with an economy that is highly dependent on tourism, the kerosene tax should be waived for flights to and from such regions, during the first five years, and should then be raised in five equal annual steps in the following five years to reach the levels achieved for all flights at the end of the ten year period. All precautionary steps should be taken to avoid any "détournement de trafic" in kerosene usage.
Amendment 184 #
2021/0213(CNS)
Proposal for a directive
Recital 28 a (new)
Recital 28 a (new)
(28 a) Energy is essential and access to energy services is a basic social right. Households regarded as vulnerable are more often affected by energy poverty as defined in the Directive of the European Parliament and of the Council on energy efficiency (recast) and need special attention. 'Energy poverty' means a household’s inability, linked to non- affordability, to meet its basic energy supply needs and lack of access to essential energy services such as to guarantee basic levels of comfort and health, a decent standard of living, including adequate heating and cooling, lighting, and energy to power appliances, in the relevant national context, existing social policy and other relevant policies, as a result of insufficient disposable income.
Amendment 198 #
2021/0213(CNS)
Proposal for a directive
Recital 36
Recital 36
(36) Every five years and for the first time five years after the entry into force of this Directive, the Commission should report to the Council and the European Parliament on the application of this Directive, examining in particular the minimum levels of taxation, the impact of innovation and technological developments, especially as regards energy efficiency, the use of electricity in transport and the justification for the exemptions, reductions and differentiations laid down in this Directive. The report should take into account the proper functioning of the internal market, environmental and social considerations, the real value of the minimum levels of taxation and the wider relevant objectives of the Treaties.
Amendment 216 #
2021/0213(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point b – indent 2 – paragraph 1
Article 3 – paragraph 1 – point b – indent 2 – paragraph 1
An energy product has a dual use when it is used both as heating fuel and for purposes other than as motor fuel and heating fuel. The use of energy products for chemical reduction and in electrolytic and metallurgical processes,and mineralogical processes, including also various hydrogen production methods, such as methane pyrolysis or carbon capture, storage and utilisation when energy products are used directly in or to provide a direct energy input to the process, or their consumption is connected to the process, shall be regarded as dual use,
Amendment 242 #
2021/0213(CNS)
Proposal for a directive
Article 7 a (new)
Article 7 a (new)
Amendment 313 #
2021/0213(CNS)
Proposal for a directive
Article 16 – paragraph 1 – point b – indent 5 a (new)
Article 16 – paragraph 1 – point b – indent 5 a (new)
- generated from renewable gases and renewable fuels of non-biological origin;
Amendment 319 #
2021/0213(CNS)
Proposal for a directive
Article 16 – paragraph 1 – point c
Article 16 – paragraph 1 – point c
(c) electricity produced from combined heat and power generation, provided that cogeneration by the combined generators is high-efficiency cogeneration as defined in Article 2, point (34), of Directive 2012/27/EU. ; as well as energy products and electricity used for high-efficiency cogeneration.
Amendment 346 #
2021/0213(CNS)
Proposal for a directive
Article 17 – paragraph 1 – point d a (new)
Article 17 – paragraph 1 – point d a (new)
(d a) reductions in the level of taxation, which shall not fall below the minimum levels set out in Table B of Annex I, for energy products with a market share of less than 1% in that Member State;
Amendment 384 #
2021/0213(CNS)
Proposal for a directive
Article 31 – paragraph 2
Article 31 – paragraph 2
The report by the Commission shall, inter alia, examine the minimum levels of taxation, the impact of innovation and technological developments, in particular as regards energy efficiency, the use of electricity in transport and the justification for the exemptions, reductions and differentiations laid down in this Directive. The report shall take into account the proper functioning of the internal market, environmental and social considerations, the real value of the minimum levels of taxation and, the impact of this directive on air connectivity and the economic and social welfare of insular, peripheral and remote regions as well as the relevant wider objectives of the Treaties.
Amendment 13 #
2021/0211(COD)
Proposal for a directive
Recital 28 a (new)
Recital 28 a (new)
Amendment 17 #
2021/0211(COD)
Proposal for a directive
Recital 28 b (new)
Recital 28 b (new)
(28 b) In accordance with Council Decision (EU, Euratom) 2020/2053, the Union is legally bound to repay all liabilities incurred by the exceptional and temporary empowerment to borrow funds under Next Generation EU by 31 December 2058 at the latest. Therefore, in order to respect the legally binding Interinstitutional Agreement and its roadmap for the introduction of a basket of new own resources intended to repay the Union’s debt and to align the EU revenue side with the EU political priorities, a share of ETS revenues should accrue to the Union budget to help cover the borrowing costs as enshrined in the [Council Decision 2022/XXXX amending Decision (EU, Euratom) 2020/2053 on the system of own resources of the European Union] and prevent substantial decreases in the EU budget that would jeopardize Union programmes in future MFFs.
Amendment 27 #
2021/0211(COD)
Proposal for a directive
Recital 44 a (new)
Recital 44 a (new)
(44 a) Underlines the importance of a uniform application of the own resources decision and therefore the ETS Directive should not contain any temporary opt-out clauses, giving Member States the possibility to delay the application of emissions trading, which would fragment and undermine the basis for the ETS- based own resource.
Amendment 40 #
2021/0211(COD)
Proposal for a directive
Recital 52 a (new)
Recital 52 a (new)
(52 a) In the event of a higher level of carbon price than the initial assumption (EC reference price/assumption of EUR45/ton in 2020 prices), additional allocations should be made available for the Social Climate Fund and be subject to a specific technical adjustment based on carbon-price fluctuation to ensure that the impact of carbon price increases on the most vulnerable is adequately and fairly mitigated;
Amendment 93 #
2021/0206(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) Therefore, a part of the revenues generated by the inclusion of building and road transport into the scope of Directive 2003/87/EC should be used to address the social impacts arising from that inclusion, for the transition to be just and inclusive, leaving no one behind. as an own resource to finance the Union budget as general income, in accordance with the legally binding Interinstitutional Agreement of 16 December 20201a that sets out a roadmap towards the introduction of new own resources, providing the Union budget with the means to contribute to addressing the social impacts arising from that inclusion, for the transition to be just and inclusive, leaving no one behind. Under that Agreement, a basket of new own resources is envisaged to be introduced by 1 January 2023. The new own resources are instruments to embed EU policy priorities such as the European Green Deal and the Union’s contribution to fair taxation in the revenue side of the EU budget and thus augment EU add value. As such, green own resources are to contribute to the climate mainstreaming objectives, the repayment of NGEU debts and the resilience of the Union budget as regards its functioning as a tool for investments and guarantees. _________________ 1a Interinstitutional Agreement of 16 December 2020 between the European Parliament, the Council of the European Union and the European Commission on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources (OJ L 433I, 22.12.2020, p. 28).
Amendment 126 #
2021/0206(COD)
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14 a) The Plan should also include measures to provide information support, capacity building and training necessary to implement the investments and measures intended to reduce reliance on fossil fuels through increased energy efficiency of buildings, decarbonisation of heating and cooling of buildings, including the integration of energy from renewable sources, and granting improved access to zero - and low - emission mobility and transport.
Amendment 143 #
2021/0206(COD)
Proposal for a regulation
Recital 18
Recital 18
(18) Taking into account the importance of tackling climate change in line with Paris Agreement commitments, and the commitment to the United Nations Sustainable Development Goals, the actions under this Regulation should contribute to the achievement of the target that at least 30 % of all expenditure under the 2021-2027 multiannual financial frameworkthe total amount of the Union budget and the European Union Recovery Instrument expenditure should be spent on mainstreamto supporting climate objectives and should contribute to the ambition of providing 7.5 % of annual spending under the multiannual financial framework to biodiversity objectives in 2024 and 10% of annual spending to biodiversity objectives in 2026 and 2027, while considering the existing overlaps between climate and biodiversity goals. For this purpose, the methodology set out in Annex II of Regulation (EU) 2021/1060 of the European Parliament and of the Council33 should be used to tag the expenditures of the Fund. The Fund should support activities that fully respect the climate and environmental standards and priorities of the Union and comply with the principle of ‘do no significant harm’ within the meaning of Article 17 of Regulation (EU) 2020/852 of the European Parliament and of the Council34 . Only such measures and investments should be included in the Plans. Direct income support measures should as a rule be considered as having an insignificant foreseeable impact on environmental objectives, and as such be considered compliant with the principle of ‘do no significant harm’. The Commission intends to issue technical guidance to the Member States well ahead of the preparation of the Plans. The guidance will explain how the measures and investments must comply with the principle of ‘do no significant harm’ within the meaning of Article 17 of Regulation (EU) 2020/852. The Commission intends to present in 2021 a proposal for a Council Recommendation on how to address the social aspects of the green transition. _________________ 33 Regulation (EU) 2021/1060 of the European Parliament and of the Council of 24 June 2021 laying down common provisions on the European Regional Development Fund, the European Social Fund Plus, the Cohesion Fund, the Just Transition Fund and the European Maritime, Fisheries and Aquaculture Fund and financial rules for those and for the Asylum, Migration and Integration Fund, the Internal Security Fund and the Instrument for Financial Support for Border Management and Visa Policy (OJ L 231, 30.6.2021, p. 159). 34 Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (OJ L 198, 22.6.2020, p. 13).
Amendment 147 #
2021/0206(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) Women are particularly affected by carbon pricing as they represent 85% of single parent families. Single parent families have a particularly high risk of child poverty. Gender equality as well as rights and equal opportunities for all, and the mainstreaming of those objectives, as well as questions of accessibility for persons with disabilities should be taken into account and promoted throughout the preparation and, implementation and monitoring of Plans to ensure no one is left behind.
Amendment 155 #
2021/0206(COD)
(23) The financial envelope of the Fund should, in principle, be commensurate to amounts corresponding toet on the basis of an assessment of the estimated amount generated by allocating to the Union budget 25% of the expected revenues from the inclusion of buildings and road transport into the scope of Directive 2003/87/EC in the period 2026- 2032. Pursuant to Council Decision (EU, Euratom) 2020/205341 , Member States should make those revenues available to the Union budget as own resources. The revenue accruing to the Union budget is to respect the principle of universality in accordance with Article 7 of Decision (EU, Euratom) 2020/2053. Member States should make those revenues available to the Union budget as own resources. Member States are to finance 50% of the total costs of their Plan themselves. For this purpose, as well as for investment and measures to accelerate and alleviate the required transition for citizens negatively affected, Member States should inter alia use their expected revenues from emissions trading for buildings and road transport under Directive 2003/87/EC for that purpose. The financing of the Fund should not come at the expense of other Union programmes and policies. _________________ 41 Council Decision (EU, Euratom) 2020/2053 of 14 December 2020 on the system of own resources of the European Union and repealing Decision 2014/335/EU, Euratom (OJ L 424, 15.12.2020, p. 1).
Amendment 166 #
2021/0206(COD)
Proposal for a regulation
Recital 23 a (new)
Recital 23 a (new)
(23 a) In the event of a higher carbon price, additional allocations should be made available for the Fund to ensure that the impact of carbon price increases on the most vulnerable is adequately and fairly mitigated.
Amendment 167 #
2021/0206(COD)
Proposal for a regulation
Recital 23 b (new)
Recital 23 b (new)
Amendment 182 #
2021/0206(COD)
Proposal for a regulation
Article 1 – paragraph 3
Article 1 – paragraph 3
The measures and investments supported by the Fund shall benefit households, micro-enterprises and transport users, which are vulnerable andpeople affected by energy poverty and vulnerable transport users, in particular households in social housing, in worst performing buildings, and remote areas, which are particularly affected by the inclusion of greenhouse gas emissions from buildings and road transport into the scope of Directive 2003/87/EC, especially households in energy poverty and citizens without public transport alternative to individual cars (in remote and rural areas).
Amendment 190 #
2021/0206(COD)
Proposal for a regulation
Article 1 – paragraph 4
Article 1 – paragraph 4
The general objective of the Fund is to contribute to the transition towards climate neutrality, sustainable development, and well-being for all people, by addressing the social impacts of the inclusion of greenhouse gas emissions from buildings and road transport into the scope of Directive 2003/87/ECline with the Union’s commitments under the Paris Agreement, the European Pillar of Social Rights and the UN SDGs, while leaving no one behind. The specific objective of the Fund is to support vulnerable households, people affected by energy poverty, vulnerable micro-enterprises and vulnerable transport users through temporary direct income support and through measures and investments intended to increase energy efficiency of buildings, decarbonisation of heating and cooling of buildings, including the integration of energy from renewable sources, and granting improved access to zero- and low-emission as well as affordable mobility and transport.
Amendment 204 #
2021/0206(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
(2) ‘energy poverty’ means energy poverty as defa household’s inability linked in point [(49)] of Article 2 of Directive (EU) [yyyy/nnn] of the of the European Parliament and of the Council50 ; _________________ 50 [Directive (EU) [yyyy/nnn] of the of the European Parliamto the non- affordability and the lack of access to essential energy services and an adequate level of energy supply as to guarantee a decent standard of the Council (OJ C […], […], p. […]).] [Proposal for recast of Directive 2012/27/EU on energy efficiency]living and health, including adequate warmth, cooling, lighting, and energy to power appliances, in the relevant national context, existing social policy and other relevant policies;
Amendment 208 #
2021/0206(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 2 a (new)
Article 2 – paragraph 1 – point 2 a (new)
(2 a) 'transport poverty';
Amendment 218 #
2021/0206(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 11
Article 2 – paragraph 1 – point 11
(11) ‘vulnerable households’ means households in energy poverty or households, including lower middle- income ones, that are significantly affected by the price impacts of the inclusion of buildings into the scope of Directive 2003/87/EClack of access to affordable and sustainable energy sources and lackto the means to renovate the building they occupy;
Amendment 230 #
2021/0206(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 13 a (new)
Article 2 – paragraph 1 – point 13 a (new)
(13 a) ‘worst performing buildings’ means buildings below the E energy performance rating, as defined in [Article 2(17) of Recast EPBD];
Amendment 236 #
2021/0206(COD)
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Each Member State shall submit to the Commission a Social Climate Plan (‘the Plan’) together with the update to the integrated national energy and climate plan referred to in Article 14(2) of Regulation (EU) 2018/1999 in accordance with the procedure and timeline laid down in that Article. The Plan shall contain a coherent set of measures and investments to address the impact of carbon pricing on vulnerable households, people affected by energy poverty, vulnerable micro-enterprises and vulnerable transport users in order to ensure affordable heating, cooling and mobility while accompanying and accelerating necessary measures to meet the climate targets of the Union.
Amendment 253 #
2021/0206(COD)
Proposal for a regulation
Article 3 – paragraph 3 – point b
Article 3 – paragraph 3 – point b
(b) finance measures and investments to increase the uptake ofaccess to zero- and low- emission and affordable mobility and transport.
Amendment 256 #
2021/0206(COD)
Proposal for a regulation
Article 3 – paragraph 3 a (new)
Article 3 – paragraph 3 a (new)
3 a. each Member State shall consult, in accordance with its national legal framework and based on the principles of partnership and multilevel governance, local and regional authorities, social partners, civil society organisations, including those representing young people, and other relevant stakeholders on its draft plan before submitting the Plan to the Commission.
Amendment 271 #
2021/0206(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point c
Article 4 – paragraph 1 – point c
(c) an estimate of the likely effects of that increase in prices on households, and in particular on incidence of energy poverty, on micro-enterprises and on transport users, comprising in particular an estimate and the identification of vulnerable households, people affected by energy poverty, vulnerable micro- enterprises and vulnerable transport users; these impacts are to be analysed with a sufficient level of regional disaggregation, taking into account elements such as access to public transport and basic services and identifying the areas mostly affected, particularly territories which are remote and rural;
Amendment 273 #
2021/0206(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point c a (new)
Article 4 – paragraph 1 – point c a (new)
(c a) a gender impact assessment and an explanation of how the measures and investments contained in the Plan take into account the objectives to contribute to gender equality and equal opportunities for all and the mainstreaming of those objectives, in line with principles 2 and 3 of the European Pillar of Social Rights, with the UN Sustainable Development Goal 5 and, where relevant, with the national gender equality strategy;
Amendment 275 #
2021/0206(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point d
Article 4 – paragraph 1 – point d
(d) where the Plan provides for measures referred to in Article 3(2), the criteria for the identification of eligible final recipients, the indication of the envisaged time limit for the measures in question and their justification on the basis of a quantitative estimate and a qualitative explanation of how the measures in the Plan are expected to reduce energy and transport poverty and the vulnerability of households, energy poverty, micro- enterprises and transport users to an increase of road transport and heating fuel prices;
Amendment 289 #
2021/0206(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point i
Article 4 – paragraph 1 – point i
(i) the arrangements for the effective monitoring and implementation of the Plan by the Member State concerned, including the involvement and consultation of social partners and civil society, in particular of the proposed milestones and targets, including indicators for the implementation of measures and investments, which, where relevant, shall be those available with the Statistical office of the European Union European Statistical Office and the European Energy Poverty Observatory as identified by Commission Recommendation 2020/156354 on energy poverty; _________________ 54 OJ L 357, 27.10.2020, p. 35.
Amendment 298 #
2021/0206(COD)
Proposal for a regulation
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
1 a. Respect for fundamental and human rights and compliance with the European Convention on Human Rights, the Charter of Fundamental Rights of the EU, the ILO Conventions and the International Bill of Human Rights shall be ensured throughout the preparation, implementation, monitoring and evaluation of the Fund. The measures and investments financed by the Fund shall respect the principle of non- discrimination on the grounds of gender, racial or ethnic origin, religion or belief, disability, age or sexual orientation throughout their preparation and implementation and ensure, where relevant, the accessibility for persons with disabilities. The measures and investments supported by the Fund shall respect the principle of gender equality and address energy poverty and transport poverty from a gender-sensitive perspective. All beneficiaries of the Fund shall comply with the conditions outlined in this paragraph prior to receiving any form of financial support.
Amendment 305 #
2021/0206(COD)
Proposal for a regulation
Article 5 – paragraph 2 – point e
Article 5 – paragraph 2 – point e
(e) reductions in the number of vulnerable households, especially households in energy poverty, of vulnerable micro-enterprises and of vulnerable transport users, including in rural and remote areas, disaggregated per gender.
Amendment 311 #
Amendment 312 #
2021/0206(COD)
Proposal for a regulation
Article 5 – paragraph 3
Article 5 – paragraph 3
3. The Fund shall only support measures and investments respecting the principle of Energy Efficiency First as in Article 3 of the Directive (2022/XX/EU) [the EED], the European Pillar of Social Rights and the principle of ‘do no significant harm’ referred to in Article 17 of Regulation (EU) 2020/852.
Amendment 316 #
2021/0206(COD)
Proposal for a regulation
Article 5 – paragraph 3 a (new)
Article 5 – paragraph 3 a (new)
3 a. The Social Climate Fund shall not support measures and investments excluded under Article 9 of Regulation (EU) 2021/1056.
Amendment 338 #
2021/0206(COD)
Proposal for a regulation
Article 6 – paragraph 2 – point c a (new)
Article 6 – paragraph 2 – point c a (new)
(c a) provide targeted information, support, capacity building and training necessary to implement the energy efficiency renovation solutions and grant access to zero- and low-emission mobility and transport services;
Amendment 366 #
2021/0206(COD)
Proposal for a regulation
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
Amendment 371 #
2021/0206(COD)
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The financial envelope for the implementation of the Fund for the period 2028-2032 shall be EUR 48 500 000 000 in current prices, subject to the availability of the amounts under the annual ceilings of the applicable multiannual financial framework referred to in Article 312 TFEU. The prolongation of the specific technical adjustment based on carbon- price fluctuation shall be considered in the context of the negotiations of the applicable multiannual financial framework.
Amendment 415 #
2021/0206(COD)
Proposal for a regulation
Article 15 – paragraph 2 – point a – point iii a (new)
Article 15 – paragraph 2 – point a – point iii a (new)
(iii a) whether social partners and relevant stakeholders have participated in the development of the plans;
Amendment 416 #
2021/0206(COD)
Proposal for a regulation
Article 15 – paragraph 2 – point a – point iii b (new)
Article 15 – paragraph 2 – point a – point iii b (new)
(iii b) whether the Plan contains a gender impact analysis and an explanation of how the measures and investments contained in the Plan are expected to address the gender dimension of energy poverty and transport poverty and ensure a gender-balanced impact, while contributing to the mainstreaming of gender equality, in line with the national gender equality strategy, the European Pillar of Social Rights and the UN SDGs; in case of measures providing direct household expenditure support to women, whether those measures account for an amount which represents at least 60% of the total national allocation for direct expenditure support;
Amendment 417 #
2021/0206(COD)
Proposal for a regulation
Article 15 – paragraph 2 – point a – point iii c (new)
Article 15 – paragraph 2 – point a – point iii c (new)
(iii c) whether the measures and investment respect the European Pillar of Social Rights;
Amendment 418 #
2021/0206(COD)
Proposal for a regulation
Article 15 – paragraph 2 – point a – point iii d (new)
Article 15 – paragraph 2 – point a – point iii d (new)
(iii d) whether the Plan sufficiently supports energy efficiency investments that can be especially hard to raise for vulnerable customers, low-income households, people affected by energy poverty and people living in social housing ;relevant measures are such as building renovations and modernisation, heating and cooling systems as in Directive (2022/XX/EU) [the EED].
Amendment 75 #
2021/0114(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) There should be a financial contribution provided, directly or indirectly, by the public authorities of a third country. The financial contribution may be granted through public or private entities. Whether a public entity provides a financial contribution should be determined on a case-by-case basis with due regard to elements such as the characteristics of the relevant entity and the legal and economic environment prevailing in the country in which the entity operates including the government’s role in the economy. Financial contributions may also be granted through a private entity if its actions can be attributed to the third country. A dominant market position in a third country such as a monopoly could also be considered as a financial contribution.
Amendment 90 #
2021/0114(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) TIn exceptional cases the Commission shcould take into account the positive effects of the foreign subsidy on the development of the relevant subsidised economic activity, where it relates to the fulfilment of public policy objectives. The Commission shcould weigh these positive effects against the negative effects of a foreign subsidy in terms of distortion on the internal market in order to determine, if applicable, the appropriate redressive measure or accept commitments. The balancing may also lead to the conclusion that no redressive measures should be imposed. The Commission should reach any such conclusion in close cooperation with the Member State(s) concerned. Categories of foreign subsidies that are deemed most likely to distort the internal market are less likely to have more positive than negative effects.
Amendment 111 #
2021/0114(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) The Commission should be given adequate investigative powers and resources to gather all necessary information. It should therefore have the power to request information from any undertaking or association of undertakings throughout the whole procedure. In addition, the Commission should have the power to impose fines and periodic penalty payments for failure to timely supply the requested information or for supplying incomplete, incorrect or misleading information. The Commission could also address questions to Member States or to third countries. Furthermore, the Commission should have the power to make fact-finding visits at the Union premises of the undertaking, or, subject to agreement by the undertaking and the third country concerned, at the premises of the undertaking in the third country. The Commission should also have the power to take decisions on the basis of facts available if the undertaking in question does not cooperate.
Amendment 130 #
2021/0114(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) When reviewing a concentration, the assessment of whether there is a distortion in the internal market should be limited to the concentration at stake, and only foreign subsidies granted in the three years prior to the concentration or future subsidies which have been approved and will become effective within one year of the concentration, should be considered in the assessment.
Amendment 139 #
2021/0114(COD)
Proposal for a regulation
Recital 35
Recital 35
(35) It should be ensured that the principles governing public procurement, notably proportionality, non- discrimination, equal treatment, and transparency, are respected, and compliance to applicable environmental, social and labour law and standards, as regards all undertakings involved in the public procurement procedure, regardless of investigations initiated and pending pursuant to this Regulation.
Amendment 154 #
2021/0114(COD)
Proposal for a regulation
Recital 48
Recital 48
(48) In order to ensure a level playing field on the internal market also in the long term, with a view to ensuring adequate coverage of cases investigated both through notifications as well as ex officio, the power to adopt acts in accordance with Article 290 of the Treaty should be delegated to the CommissionCommission should evaluate the functioning and effectiveness of this Regulation at the latest three years after its entry into force, and every two years thereafter, and present that evaluation by means of a report to the European Parliament and the Council. That report should include an assessment of whether or not this Regulation should be amended. Where the report proposes amending the Regulation, it may be accompanied by a legislative proposal, in particular in respect of amending the notification thresholds for concentrations and for public procurement procedures, exempting certain categories of undertakings from the notification obligations under this Regulation, introducing lower notification thresholds specific to certain economic sectors, as well as amending the time limits for the preliminary review and the in-depth investigations of notified concentrations or notified financial contributions in the context of a public procurement procedure. In relation to financial contributions in the context of a public procurement procedure, the power to adopt such actsevaluation should be exercisconducted in a way that takes into account the interests of SMEs. ItDuring its of particular importance that the Commission carries out appropriate consultations during the preparations of those acts, including at expert level, and that those consevaluation, the Commission should consider to abrogate the present Regultations be conducted in accordance with the principles laid down in the Interinstitutional Agreement of 13 April 2016 on Better Law-Making47 . In particular, to ensure equal participation in the preparation of delegated acts, the European Parliament and the Council should receive all documents at the same time as Member States' experts, and their experts systematically should have access to meetings of Commission expert groups dealing with the preparation of delegated acts. _________________ 47 Interinstitutional Agreement between the European Parliament, the Council of the European Union and the European Commission of 13 April 2016 on Better Law-Making (OJ L 123, 12.5.2016, p. 1), if it considers that the development of multilateral rules to address distortive subsidies has rendered this Regulation fully redundant.
Amendment 181 #
2021/0114(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point a – point iii a (new)
Article 2 – paragraph 2 – point a – point iii a (new)
(iii a) (iii a) the benefit of a domestic captive market in the third country, such as a monopoly position
Amendment 202 #
2021/0114(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point d
Article 3 – paragraph 1 – point d
(d) the level and evolution of economic activity of the undertaking concerned on the internal market;
Amendment 213 #
2021/0114(COD)
Proposal for a regulation
Article 3 – paragraph 2 a (new)
Article 3 – paragraph 2 a (new)
(2 a) To ensure efficiency and transparency, the Commission shall publish guidelines on the application of this Article. Those guidelines shall be regularly updated, in close cooperation with the Member States, while keeping the European Parliament informed.
Amendment 226 #
2021/0114(COD)
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
a foreign subsidy from countries which are not signatories to the OECD arrangement on officially supported export credits;
Amendment 228 #
2021/0114(COD)
Proposal for a regulation
Article 4 – paragraph 1 b (new)
Article 4 – paragraph 1 b (new)
a foreign subsidy in sectors with structural overcapacity;
Amendment 229 #
2021/0114(COD)
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
(1) TIn exceptional circumstances the Commission shallmay, where warranted, balance the negative effects of a foreign subsidy in terms of distortion on the internal market with positive effects on the development of the relevant economic activity for the fulfilment of public policy objectives.
Amendment 247 #
2021/0114(COD)
Proposal for a regulation
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
(2 a) The Commission shall undertake such assessment in close cooperation with Member States and the European Parliament.
Amendment 252 #
2021/0114(COD)
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
(1) TWithout prejudice to Article 5, the Commission shall impose redressive measures in order to remedy the distortion on the internal market actually or potentially caused by a foreign subsidy, the Commission may impose redressive measures. The undertaking concerned may also offer commitments.
Amendment 270 #
2021/0114(COD)
Proposal for a regulation
Article 6 – paragraph 6
Article 6 – paragraph 6
(6) Where the undertaking concerned proposes to repay the foreign subsidy including an appropriate interest rate, the Commission shall, in consultation with the Member State(s) concerned could accept such repayment as commitment ifonly where it can ascertain that the repayment is transparent and effectively contributes towards remedying the distortive effect, while taking into account the risk of circumvention.
Amendment 282 #
2021/0114(COD)
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
The Commission mayshall on its own initiative examine information from any source regarding alleged distortive foreign subsidies, including Member States and undertakings or their professional associations, regarding alleged distortive foreign subsidies. The Commission shall provide information to the Member States once an interested party or a Member State has submitted a request justifying the initiation of an investigation and the Commission has completed its analysis thereof, or where the Commission has itself determined that there is a need to initiate an investigation.
Amendment 293 #
2021/0114(COD)
Proposal for a regulation
Article 8 – paragraph 2 – point b
Article 8 – paragraph 2 – point b
(b) inform the undertaking concerned, Member States and the European Parliament; and
Amendment 297 #
2021/0114(COD)
Proposal for a regulation
Article 8 – paragraph 3
Article 8 – paragraph 3
(3) Where the Commission, after a preliminary assessment, concludes that there are no sufficient grounds to initiate the in-depth investigation, either because there is no foreign subsidy or because there are no indications of an actual or potential distortion on the internal market, it shall close the preliminary review and inform the undertaking concernedand Member States concerned, and the European Parliament.
Amendment 303 #
2021/0114(COD)
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
(2) Where the Commission finds that a foreign subsidy distorts the internal market pursuant to Articles 3 to 4 and without prejudice to Article 5, it mayshall impose redressive measures (‘decision with redressive measures’).
Amendment 314 #
2021/0114(COD)
Proposal for a regulation
Article 10 – paragraph 1 – point 2
Article 10 – paragraph 1 – point 2
(2) there is a serious risk of substantial and irreparable damage to competition on the internal market.
Amendment 319 #
2021/0114(COD)
Proposal for a regulation
Article 10 – paragraph 1 a (new)
Article 10 – paragraph 1 a (new)
Interim measures shall be limited in time.
Amendment 326 #
2021/0114(COD)
Proposal for a regulation
Article 11 – paragraph 3 – point c
Article 11 – paragraph 3 – point c
(c) contain a statement that, pursuant to Article 14, a lack of cooperation from the undertaking concerned allowrequires the Commission to take a decision on the basis of the facts that are available.
Amendment 333 #
2021/0114(COD)
Proposal for a regulation
Article 12 – paragraph 1
Article 12 – paragraph 1
(1) The Commission mayshall conduct the necessary inspections of undertakings.
Amendment 350 #
2021/0114(COD)
Proposal for a regulation
Article 14 – paragraph 3
Article 14 – paragraph 3
(3) Where an undertaking concerned, including a public undertaking which is directly or indirectly controlled by the State, fails to provide the necessary information to determine whether a financial contribution confers a benefit to it, that undertaking maywill be deemed to have received such benefit.
Amendment 353 #
2021/0114(COD)
Proposal for a regulation
Article 14 – paragraph 4
Article 14 – paragraph 4
(4) When applying facts available, the result of the procedure mayshould be less favourable to the undertaking concerned than if it had cooperated.
Amendment 366 #
2021/0114(COD)
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
In a concentration, the assessment whether there is a distortion on the internal market within the meaning of Articles 3 or 4 shall be limited to the concentration at stake. Only foreign subsidies granted in the three calendar years prior to the conclusion of the agreement, the announcement of the public bid, or the acquisition of a controlling interest or known future subsidies that have been approved by the authorities concerned of the third country, and will become effective within one year following the concentration, shall be considered in the assessment.
Amendment 368 #
2021/0114(COD)
Proposal for a regulation
Article 18 – paragraph 3 – point a
Article 18 – paragraph 3 – point a
(a) the acquired undertaking or at least one of the merging undertakings is established in the Union and generates an aggregate turnover in the Union of at least EUR 2500 million; and
Amendment 380 #
2021/0114(COD)
Proposal for a regulation
Article 18 – paragraph 4 – point a
Article 18 – paragraph 4 – point a
(a) the joint venture itself or one of its parent undertakings is established in the Union and generates an aggregate turnover in the Union of at least EUR 2500 million; and
Amendment 389 #
2021/0114(COD)
Proposal for a regulation
Article 19 – paragraph 4
Article 19 – paragraph 4
(4) If the undertakings concerned fail to meet their obligation to notify, the Commission mayshall review a notifiable concentration in accordance with this Regulation by requesting the notification of that concentration. In that case the Commission shall not be bound by the time limits referred to in Article 23(1) and (4).
Amendment 393 #
2021/0114(COD)
Proposal for a regulation
Article 19 – paragraph 5
Article 19 – paragraph 5
(5) The Commission may request the prior notification of any concentration which is not a notifiable concentration within the meaning of Article 18 at any time prior to its implementation where the Commission suspects that the undertakings concerned may have benefitted from foreign subsidies in the three years prior to the concentration or an undertaking will benefit from future subsidies that have been approved and will become effective within one year following the concentration. That concentration shall be deemed to be a notifiable concentration for the purposes of this Regulation.
Amendment 407 #
2021/0114(COD)
Proposal for a regulation
Article 24 – paragraph 2 – subparagraph 1 (new)
Article 24 – paragraph 2 – subparagraph 1 (new)
The Commission shall publish notification of the in-depth investigation in the Official Journal of the European Union and invite interested parties, including Member States and third countries, to submit any relevant information in writing within a fixed timeframe.
Amendment 415 #
2021/0114(COD)
Proposal for a regulation
Article 26 – paragraph 1
Article 26 – paragraph 1
Foreign subsidies that cause or risk causing a distortion in a public procurement procedure shall be understood as foreign subsidies that enable an undertaking to submit a tender that is unduly advantageous in relation to the works, supplies or services concerned. The assessment of whether there is a distortion on the internal market pursuant to Article 3 and whether a tender is unduly advantageous in relation to the works, supplies or services concerned shall be limited to the public procurement procedure at stake. Only foreign subsidies granted during the three years prior to the notification, or known future subsidies that have been approved and will become effective within one year following the submission of the tender or request to participate in the public procurement procedure, shall be taken into account in the assessment.
Amendment 421 #
2021/0114(COD)
Proposal for a regulation
Article 27 – paragraph 2
Article 27 – paragraph 2
(2) For the purpose of Article 28, a notifiable foreign financial contribution in an EU public procurement procedure shall be deemed to arise where the estimated value of that public procurement is equal or greater than EUR 1250 million for public works or infrastructures, and EUR 50 million for services.
Amendment 433 #
2021/0114(COD)
Proposal for a regulation
Article 28 – paragraph 1
Article 28 – paragraph 1
(1) When submitting a tender or a request to participate in a public procurement procedure, undertakings shall either notify to the contracting authority or the contracting entity all foreign financial contributions received, including that of parent companies, received or pending in the three years preceding that notification or confirm in a declaration that they did not receive any foreign financial contributions in the last three years. Undertakings which do not submit such information or declaration shall not be awarded the contract.
Amendment 438 #
2021/0114(COD)
Proposal for a regulation
Article 28 – paragraph 2
Article 28 – paragraph 2
(2) The obligation to notify foreign financial contributions under this paragraph shall extend to economic operators, groups of economic operators referred to in Article 26(2) of Directive 2014/23/EU, Article 19(2) of Directive 2014/24/EU and Article 37(2) of Directive 2014/25/EU, main subcontractors and main suppliers. A subcontractor or supplier shall be deemed to be main where their participation ensures key elements of the contract performance and in any case where the economic share of their contribution exceeds 3020 % of the estimated value of the contract.
Amendment 443 #
2021/0114(COD)
Proposal for a regulation
Article 28 – paragraph 6
Article 28 – paragraph 6
(6) Where the Commission suspects that an undertaking may have benefitted from foreign subsidies in the three years prior to the submission of the tender or request to participate in the public procurement procedure, it may request the notification of the foreign financial contributions receivedor where an undertaking may benefit from foreign subsidies in the year following the submission of the tender or request to participate in the public procurement procedure, it may request the notification of the foreign financial contributions received or foreign financial contributions to be received within one year following the submission of the tender or request to participate in the public procurement procedure by that undertaking in any public procurement procedure which are not notifiable under Article 27(2) or fall within the scope of paragraph 5 of this Article, at any time before the award of the contract. Once the Commission has requested the notification of such a financial contribution, it is deemed to be a notifiable foreign financial contribution in a public procurement procedure.
Amendment 463 #
2021/0114(COD)
Proposal for a regulation
Article 29 – paragraph 4
Article 29 – paragraph 4
(4) The Commission may adopt a decision closing the in-depth investigation no later than 20150 days after it received the notification. In exceptional circumstances, this time limit may be extended after consultation with the concerned contracting authority or contracting entity.
Amendment 472 #
2021/0114(COD)
Proposal for a regulation
Article 31 – paragraph 3
Article 31 – paragraph 3
Amendment 475 #
2021/0114(COD)
Proposal for a regulation
Article 31 – paragraph 4
Article 31 – paragraph 4
(4) Where the Commission issues a decision under Article 30(2) regarding the most economically advantageous tender, the contract may be awarded to the undertaking having submitted the next best tender not subject to a decision under Article 30(2).
Amendment 476 #
2021/0114(COD)
Proposal for a regulation
Article 31 – paragraph 5
Article 31 – paragraph 5
(5) Where the Commission adopts a decision in accordance with Article 30(1) or (3), the contract may be awarded to any undertaking having submitted the most economically advantageous tender, including, as the case may be, the undertaking(s) having submitted the notification under Article 28.
Amendment 477 #
2021/0114(COD)
Proposal for a regulation
Article 31 – paragraph 6
Article 31 – paragraph 6
(6) In all cases, the contracting authority or the contracting entity shall inform the Commission of any decision relating to the outcome of the public procurement procedure, in the month after the procedure is concluded.
Amendment 486 #
2021/0114(COD)
Proposal for a regulation
Article 34 – paragraph 2
Article 34 – paragraph 2
(2) The Commission mayshall, where relevant, publish a report on the results of its market investigation into particular sectors, particular types of economic activity or particular subsidy instruments and invite comments from interested parties.
Amendment 491 #
2021/0114(COD)
Proposal for a regulation
Article 34 – paragraph 4 a (new)
Article 34 – paragraph 4 a (new)
(4 a) Following a market investigation, the Commission may engage in dialogue with the third country concerned, with the objective to end the distortive effects of a subsidy scheme. This dialogue shall not prevent the Commission from taking further action under the provisions of this Regulation, including the application of interim or redressive measures.
Amendment 494 #
2021/0114(COD)
Proposal for a regulation
Article 35 – paragraph 1
Article 35 – paragraph 1
(1) The powers of the Commission under Article 9 shall be subject to a limitation period of ten years, starting on the day on which a foreign subsidy is granted to the undertaking concerned. Any action taken by the Commission under Articles 8, 11, 12, 13 or 134 with respect to a foreign subsidy shall interrupt the limitation period. After each interruption, the limitation period shall start to run afresh.
Amendment 497 #
2021/0114(COD)
Proposal for a regulation
Article 36 – paragraph 1
Article 36 – paragraph 1
(1) The Commission shall publish a summary notice of the decisions adopted pursuant to Article 8(2). and to Article 34 (2).
Amendment 498 #
2021/0114(COD)
Proposal for a regulation
Article 37 – paragraph 1
Article 37 – paragraph 1
(1) Decisions adopted pursuant to Articles 8, 9, 15, 24(3), 25, 30(1), 32 and 324 (2), shall be addressed to the undertakings or to the association of undertakings concerned. The Commission shall notify the decision to the addressee without delay and shall give the addressee the opportunity to indicate to the Commission which information it considers to be confidential. The Commission shall provide the contracting authority or the contracting entity concerned with a copy of any Commission decision addressed to an undertaking participating in a public procurement procedure.
Amendment 505 #
2021/0114(COD)
Proposal for a regulation
Article 40 – paragraph 7
Article 40 – paragraph 7
(7) An investigation pursuant to this Regulation shall not be carried out and measures shall not be imposed or maintained where such investigation or measures would be contrary to the Union’s obligations emanating from any relevant international agreement it has entered into. In particular, no action shall be taken under this Regulation which would amount to a specific action against a subsidy within the meaning of Article 32.1 of the Agreement on Subsidies and Countervailing Measures and granted in a third country which is a member of the World Trade Organisation. This Regulation shall not prevent the Union from exercising its rights or fulfilling its obligations under international agreements.
Amendment 508 #
2021/0114(COD)
Proposal for a regulation
Article 42 – paragraph 1 a (new)
Article 42 – paragraph 1 a (new)
(1 a) The first such implementing act shall be adopted no later than one year after the entry into force of this Regulation.
Amendment 509 #
2021/0114(COD)
Proposal for a regulation
Article 44
Article 44
Amendment 519 #
2021/0114(COD)
Proposal for a regulation
Article 45
Article 45
Amendment 521 #
2021/0114(COD)
Proposal for a regulation
Article 46 – paragraph 1
Article 46 – paragraph 1
1. Within fivthree years after the entry into force of this Regulation at the latest, and every two years thereafter, the Commission shall present a report to the European Parliament and the Council on the applicationview and evaluate the functioning and effectiveness of this Regulation, accompanied, where the Commission considers it appropriate, by relevant legislative proposalsnd present a report to the European Parliament and the Council on its application.
Amendment 525 #
2021/0114(COD)
Proposal for a regulation
Article 46 – paragraph 1 a (new)
Article 46 – paragraph 1 a (new)
1a.Where the report recommends amendments to this Regulation and where the Commission considers it appropriate in light of its practice during the application of this Regulation and taking into account the effectiveness of application, the report may be accompanied by relevant legislative proposals, including: a) to amend the thresholds for notifications as set out in Articles 18 and 27; b) to exempt certain categories of undertakings concerned from the obligation to notify pursuant to Articles 19 and 28, especially where the practice of the Commission enables the identification of economic activities where foreign subsidies are unlikely to distort the internal market; c) to establish specific thresholds for notifications for certain economic sectors, especially where the practice of the Commission enables the identification of economic activities where foreign subsidies are more likely to distort the internal market; d) to amend the timelines for review and in-depth investigations as set out in Articles 24 and 29; e) to abrogate the present Regulation, if the Commission considers that multilateral rules to address distortive subsidies have rendered this Regulation fully redundant.
Amendment 14 #
2021/0000(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Considers that the agreements on the mMultiannual fFinancial fFramework, Next Generation EU, the own resources (OR) decision, the Recovery and Resilience Facility (RRF) and the Rule of Law (RoL) regulation constitute a viable baseline for innovative policies indispensable to tackle existing and unexpected or unpredictable challenges; and is convinced that the common issuance of bonds at EU level is a sea change in EU public finances, which adds value by mutualising the outstanding credit rating of the EU budget based on its OR system crucial to implement European priorities, support public investments and reforms and represents an economic stimulus for a sustainable and fair recovery in the EU replacing outdated recovery policies;
Amendment 35 #
2021/0000(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Highlights that women, as well as vulnerable and marginalised groups, have been over-proportionately affected by the COVID-19 pandemic and its economic and social consequences, constituting a majority of workers in the care sector and sectors particularly affected by unemployment and lockdowns while also being victims of the sharp increase of domestic and gender-based violence; recalls that the employment, the gender pay and the gender pension gaps remain extremely high; underlines that the European Semester process and the RRF should contribute to tackle those inequalities; calls for strengthening gender equality through the integration of gender mainstreaming and for the Commission to accelerate the introduction of an effective, transparent, comprehensive, result-oriented and performance-based methodology for all EU programmes;
Amendment 48 #
2021/0000(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Stresses the need for the recovery and resilience plans to deliver public goods like pandemic prevention and to contribute to implementing the European Pillar of Social Rights, the EU’s climate and biodiversity objectives, The Paris agreement, the UN Sustainable Development Goals, the European Green Deal and the digital and green transformation andof Europe as well as the Gender Equality Strategy;
Amendment 52 #
2021/0000(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Emphasises that the European Parliament should be better included in the European Semester process, including the Country Specific Recommendations; stresses the importance of a more inclusive social dialogue with social partners, civil society, youth organisations, local and regional authorities in shaping the European Semester; recalls the role for the European Parliament in the governance of the RRF through the regular “recovery and resilience dialogue” which will enable the Parliament to invite the Commission to discuss different items related to the Facility;
Amendment 53 #
2021/0000(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Stresses how the social tracking methodology to be developed for the Recovery and Resilience Funds can play a key role to improve the European Semester in order to better incorporate social and environmental issues on an equal footing to fiscal coordination, by for example paying more attention to aggressive tax planning, poverty reduction, gender equality, social justice, social cohesion and upward convergence;
Amendment 62 #
2021/0000(INI)
6a. Emphasises that the EU budget and national budgets are negatively impacted by tax evasion and a comprehensive approach is needed to fight tax fraud, tax avoidance and aggressive tax planning as well as aggressive tax competition; thus calls for an annual survey on the European tax gap including a listing of harmful tax practices, revenue impacts of tax evasion etc.;
Amendment 31 #
2020/2260(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Notes that the EU internal market is the world’s biggest importer and exporter of agri-food products; is convinced that the EU should use this position to set the benchmark in terms of standards for sustainable food systems, based on the respect of human and labour rights, the precautionary principle, environmental protection and animal welfare;
Amendment 47 #
2020/2260(INI)
3. Believes that sustainable production should become a key characteristic of EU agri- food products, expanding the concept of quality to social and environmental aspects, on top of their worldwide reputation for being safe and healthy; stresses, in this regard, that EU quality production and Geographical Indications, combined with an ambitious EU promotion policy, should be considered as an asset with regard to the objective to foster sustainable trade;
Amendment 74 #
2020/2260(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls on the Commission to pursueensure consistency and coherence between the objectives of the Farm to Fork Strategy and the Common Commercial Policy, and to pursue these objectives through the development of Green Alliances in all relevant forums, including the UN Food Systems Summit 2021;
Amendment 79 #
2020/2260(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Stresses the need, also highlighted by the COVID-19 pandemic, to develop a EU open strategic autonomy, with the aim of ensuring access to key markets and critical goods, as well as protecting economic assets; reiterates that food security must be acknowledged as a crucial aspect of the open strategic autonomy, in order to secure the functioning of food supply systems during future crisis;
Amendment 84 #
2020/2260(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Highlights the importance of transparency in the food supply-chain and of traceability of all production and distribution processes; notes that innovative digital tools and mandatory origin labelling of food products have the potential to significantly increase transparency and traceability, thus improving consumer confidence;
Amendment 91 #
2020/2260(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Emphasises the importance of enforceable Trade and Sustainable Development chapters in trade agreements, which include sanction-based dispute mechanisms, to promote biodiversity, foster more sustainable agri-food production and, stop EU-driven global deforestation; urges and raise labour standards, in line with the eight ILO core Conventions; urges particular support for developing countries to promote food security and provide assistance on alignmenting with European standards for sustainabilityle agri-food systems;
Amendment 120 #
2020/2260(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses the risk of putting the EU agri-food sector at a competitive disadvantage in the absence of global convergence of standards, and of leading to increased costs for consumers; calls on the Commission to present a comprehensive and cumulative impact assessment of the targets envisaged in the Strategy, as well as proportionate measures, adequate time- frame for adaptation and compensation mechanisms to maintain the competitiveness of the EU agri-food sector and, in particular by ensureing reciprocity of standards; for all agri-food and forestry products imported into the EU;
Amendment 134 #
2020/2260(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Urges the Commission to strengthen customs checks in order to prevent food frauds, enhance protection of IPRs, notably Geographical Indications, and avoid the possible entry of plant and animal pests into the EU thus ensuring the highest level of sanitary and phytosanitary protection;
Amendment 140 #
2020/2260(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Emphasises the importance of granting access to technological and scientific innovations, including sustainable bio-technologies able to foster the diversity of genetic resources and food production systems, with special attention for local breeds and varieties; stresses that building strong relationships with trading partners in terms of research and development of these innovations could be a key factor in fostering more sustainable agri-food production while safeguarding agricultural productivity;
Amendment 8 #
2020/2259(INI)
Motion for a resolution
Citation 25 a (new)
Citation 25 a (new)
— having regard to the OECD report of 9 October 2020 entitled ‘Green budgeting and tax policy tools to support a green recovery’,
Amendment 9 #
2020/2259(INI)
Motion for a resolution
Citation 28 a (new)
Citation 28 a (new)
Amendment 11 #
2020/2259(INI)
Motion for a resolution
Citation 29 a (new)
Citation 29 a (new)
— having regard to the World Bank's report of 27 May 2020 entitled 'State and Trends of Carbon Pricing 2020',
Amendment 12 #
2020/2259(INI)
Motion for a resolution
Citation 29 b (new)
Citation 29 b (new)
— having regard to the report of the United Nations’ High Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda of 25 February 2021 entitled 'Financial Integrity for Sustainable Development',
Amendment 13 #
2020/2259(INI)
Motion for a resolution
Citation 29 c (new)
Citation 29 c (new)
— having regard to the ongoing work of the United Nations Committee of Experts on International Cooperation in Tax Matters,
Amendment 14 #
2020/2259(INI)
Motion for a resolution
Citation 29 d (new)
Citation 29 d (new)
— having regard to the report of the United Nations’ Inter-agency Task Force on Financing for Development of entitled ‘Financing for Sustainable Development Report 2020’,
Amendment 15 #
2020/2259(INI)
Motion for a resolution
Citation 29 e (new)
Citation 29 e (new)
— having regard to the ongoing work of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS),
Amendment 17 #
2020/2259(INI)
Motion for a resolution
Recital A
Recital A
A. whereas the fiscal system must be reformed by shifting the tax mix, making the tax system fairer and adjusting our redistributive mechanisms if the state is to continue establishing the preconditions for inclusive and sustainable well-being;
Amendment 23 #
2020/2259(INI)
Motion for a resolution
Recital A c (new)
Recital A c (new)
A c. whereas the Covid-19 pandemic had an extremely negative overall impact on the economic performance of the European Union, including dramatic and asymmetric social consequences;
Amendment 24 #
2020/2259(INI)
Motion for a resolution
Recital A d (new)
Recital A d (new)
A d. whereas the European social model, based on quality public services and inclusive social protection, was paramount to face the consequences of the Covid-19 pandemic;
Amendment 25 #
2020/2259(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas inequality levels have increased throughout Europe when compared to 19808a and negatively impact human well-being; _________________ 8aWorld Inequality Database, 2019, How Unequal Is Europe? Evidence from Distributional National Accounts, 1980- 2017, https://wid.world/europe2019/
Amendment 27 #
2020/2259(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
A b. whereas the European Union and its Member States are committed to deliver on the Paris Agreement targets of keeping the increase in global average temperature to well below 2 °C above pre- industrial levels and to pursue efforts to limit the increase to 1.5 °C;
Amendment 33 #
2020/2259(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas these challenges require a fiscal framework that ensures sufficient room for public and private investments;
Amendment 43 #
2020/2259(INI)
Motion for a resolution
Recital C
Recital C
C. whereas tax morale is generally higher in countries that tax more heavily, which is evidence for the willingness of citizens to pay tax in return for effective public services and a social safety net9 ; _________________ 9 https://www.oecd- ilibrary.org/sites/0533eea9- en/index.html?itemId=/content/component/ 0533eea9-en
Amendment 68 #
2020/2259(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Amendment 77 #
2020/2259(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas the European institutions reached a broad agreement regarding the need to establish new own resources;
Amendment 79 #
2020/2259(INI)
Motion for a resolution
Recital E c (new)
Recital E c (new)
Amendment 104 #
2020/2259(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Underlines that taxation and tax collection have shifted the tax incidence from wealth to income, from capital to labour income and consumption, from MNEs to SMEs, and from the financial sector to the real economy, thus becoming more regressive; observes with concern this shift in the tax burden from more mobile to less mobile taxpayers, resulting in a lower average tax burden for the very income-rich11 ; _________________ 11European Commission, ‘Tax policies in the European Union’ survey, 2020, https://ec.europa.eu/taxation_customs/busi ness/company-tax/tax-good- governance/european-semester/tax- policies-european-union-survey_en
Amendment 107 #
2020/2259(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Regrets that capital income often enjoys lower levels of taxation when compared to labour income; notes that this contributes to increasing inequality;
Amendment 109 #
2020/2259(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Points out that technological progress and economic integration are making the taxpayers and tax bases of all types of tax increasingly mobile12 ; notes that this could reinforce the tendency to rely on immobile tax bases; highlights that under these circumstances, particularly when considering the freedom of capital and freedom of movement within the European Union, it is paramount to establish harmonised rules that provide more tax certainty and contribute to a level playing field; _________________ 12European Commission, ‘Tax policies in the European Union’ survey, 2020, https://ec.europa.eu/taxation_customs/busi ness/company-tax/tax-good- governance/european-semester/tax- policies-european-union-survey_en
Amendment 117 #
2020/2259(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. ObserveRegrets that in spite of the numerous calls for shifting taxation from labour to pollution, revenues from taxes on pollution and resources in particular have remained very low, and yet they offer accounting for a mere 0.2% of the total tax revenue in the EU12a; highlights the potential source forof increasing revenue through the application of the ‘polluter pays’ principle and that such taxes are difficult to evade owing to the character of the tax base; _________________ 12aEurostat, accessed in 2021, Environmental tax revenues, https://ec.europa.eu/eurostat/databrowser/ view/env_ac_tax/
Amendment 121 #
2020/2259(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Regrets that the current tax system still favours a linear supply chain by failing to provide sufficient incentives to better resource and waste management, recycling, re-usage and refurbishment; underlines that taxation plays a key role in ensuring our transition towards a circular economy and more sustainability; welcomes, in that regard, taxes on non- recycled plastic packaging waste and encourages similar alternatives;
Amendment 123 #
2020/2259(INI)
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Observes that the European Union managed to reach its emission reductions target for 2020; notes that reaching the targets under discussion for 2030 and 2050 requires more ambition, including in the field of taxation; stresses the importance of tax policy in reducing greenhouse gas emissions, particularly in the phasing-out of fossil fuels;
Amendment 127 #
2020/2259(INI)
Motion for a resolution
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Clarifies that the introduction of environmental taxes must lead to a more socially just tax system; stresses that any regressive effects of the new taxes requires adequate compensation measures, including at the European level;
Amendment 147 #
2020/2259(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Recognizes that the pandemic will have a significant impact on tax revenue; reminds that, if successful, most green taxes will provide diminishing revenue; notes that safeguarding fiscal sustainability in the long-term requires countries to consider and coordinate their approach on alternative sources; underlines that the implementation of new taxes must also consider the importance of a strong demand for a successful economic recovery;
Amendment 150 #
2020/2259(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Notes with concern that the impact of the COVID-19 pandemic is highly regressive, with the poorest households being the most severely hit14 ; reminds that an inclusive and sustainable economic recovery is a priority; regrets that large companies that realise excess profits, such as e-commerce businesses and wealthy individuals who realise significant capital gains through speculation, are often undertaxed; notes the growing discussion regarding how taxation can mitigate the negative impacts of the extreme accumulation of wealth and profits; _________________ 14OECD, ‘Tax and Fiscal Policy in Response to the Coronavirus Crisis: Strengthening Confidence and Resilience’, 19 May 2020,https://www.oecd.org/ctp/tax- policy/tax-and-fiscal-policy-in-response- to-the-coronavirus-crisis-strengthening- confidence-and-resilience.htm
Amendment 157 #
2020/2259(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Highlights the prime role of income tax policies in curbing inequalities; notes that European cooperation and coordination is the optimal approach to ensure a fair taxation of capital gains and to safeguard the progressivity of taxation on income;
Amendment 159 #
2020/2259(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Reminds that digitalisation remains a main challenge for tax systems; notes that the outcome of the OECD international tax negotiations may provide a proper solution; welcomes the Commission’s commitment to put forward a proposal for a digital levy in case the OECD negotiations fail to provide an adequate outcome in the near future;
Amendment 160 #
2020/2259(INI)
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8 c. Calls on Member States to consider an harmonised corporate taxation framework for the EU that does not enable base erosion and profit shifting; highlights that reducing the friction of cross-border economic activity and ensuring a fair level playing field improves the conditions for businesses, in particular SMEs, to thrive in the single market; notes that failing to fix the dramatic loopholes in corporate taxation can lead to a scenario where national defensive measures proliferate, thus negatively impacting economic activity within the internal market;
Amendment 161 #
2020/2259(INI)
Motion for a resolution
Paragraph 8 d (new)
Paragraph 8 d (new)
8 d. Encourages the European Commission to study the tax revenue loss of not having a common withholding tax on dividends, interest and royalties in the European Union; expects the Commission to assess the results and, if adequate, put forward a legislative proposal;
Amendment 162 #
2020/2259(INI)
Motion for a resolution
Paragraph 8 e (new)
Paragraph 8 e (new)
8 e. Regrets the lack of progress towards a European financial transactions tax (FTT), initially tabled in the aftermath of the financial crisis; notes that the European Council of July 2020 mentions the FTT as a possible own resource; highlights that a coordinated approach is optimal given the free movement of capital;
Amendment 171 #
2020/2259(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Highlights that environmental taxes have the potential to cover the need for additional revenue while supporting a resilient, competitive, sustainable and carbon-free economy; calls on Member States to consider expanding the tax base for environmental taxes through inter alia natural resource taxes, distance-based charges in the transport sector, fuel prices, and the taxation of deforestation, landfill, incineration, pesticides and fertilizers; urges all Member States to prevent a 'race to the bottom' in environmental taxation;
Amendment 176 #
2020/2259(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. UStresses that a successful climate transition requires a socially sustainable approach; underlines that environmental taxation should be accompanied by a general tax shift, such as tonamely by lowering labour income taxes and social security contributions, to protect low-income households from regressive effects and to build more resilient, economically efficient and fairer tax systems15 ; notes that the specific tax design is at least as important as the tax type; _________________ 15IMF, ‘Fiscal Policies for Paris Climate Strategies – from Principle to Practice’, 1 May 2019, https://www.imf.org/en/Publications/Policy -Papers/Issues/2019/05/01/Fiscal-Policies- for-Paris-Climate-Strategies-from- Principle-to-Practice-46826
Amendment 183 #
2020/2259(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Warns that national budgets cannot rely on environmental taxes alone, as some of these revenues will fall as environmental harm decreases over time; calls on Member States to develop holistic tax reforms that safeguard long-term fiscal sustainability, shifting taxation from labour to not only pollution but also capital and wealth16 ; highlights that such options would dramatically benefit from a coordinated approach that prevents capital flight and the erosion of each country's tax base; _________________ 16European Commission, ‘Tax policies in the European Union’ survey, 2020, https://ec.europa.eu/taxation_customs/busi ness/company-tax/tax-good- governance/european-semester/tax- policies-european-union-survey_en
Amendment 197 #
2020/2259(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls on Member States to revise tax expenditure in all tax areas; calls on Member States to perform annual, detailed and public cost-benefit analyses of each tax provision; encourages the removal of tax expenditures which are at odds with the European Union’s political priorities, namely the European Green Deal;
Amendment 203 #
2020/2259(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Observes that there is also room for significant revenue and efficiency gains at tax administration level; notes that an effective and efficient tax administration, as well as a high degree of tax certainty, can encourage investment and foster competitiveness; stresses that leveraging digital technology is crucial towards a simpler, more effective and efficient tax collection;
Amendment 209 #
2020/2259(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
Amendment 211 #
2020/2259(INI)
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13 b. Stresses that tackling tax fraud and tax crimes is paramount to ensure a fair tax system; takes note of previous reports by the European Parliament which called for an ambitious review of the Anti-Money Laundering and Counter Terrorist Financing framework;
Amendment 230 #
2020/2259(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the Commission’s soon- to-be-published revision of the Energy Taxation Directive17 ; calls on Member States to agree to close tax exemptions for aviation and maritime fuels, increase minimum rates and restore the level playing field; calls on the Commission to launch a proposal for a progressive European kerosene taxencourages the Commission to provide an impact assessment that considers the differentiated impact based on socioeconomic background and on each country; reminds that, for instance, low- income households and specific regions are more exposed to energy poverty issues; stresses that the climate transition must ensure affordable heating alternatives and contribute to reducing energy poverty; _________________ 17 OJ L 283, 31.10.2003, p. 51.
Amendment 240 #
2020/2259(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Encourages the Commission to put forward an ambitious carbon border adjustment mechanism (CBAM); highlights that this tool is paramount to prevent carbon leakage and promote sustainable jobs and sustainable industrial production; reminds that the CBAM must be WTO-compatible even if it means not being designed as a taxation measure;
Amendment 241 #
2020/2259(INI)
Motion for a resolution
Paragraph 16 c (new)
Paragraph 16 c (new)
16 c. Calls on the Commission to assess how to better integrate positive environmental impact on consumption taxes; stresses that a “green” VAT reduction could shape consumer preferences towards sustainable products and services;
Amendment 247 #
2020/2259(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Encourages the Commission to put forward all the legislative initiatives for taxation, including all mentioned new own-resources, as established in the Interinstitutional Agreement on budgetary cooperation of 16 December 2020;
Amendment 17 #
2020/2223(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas exceptional and temporary measures to respond to the pandemic should not be applied in disguise of anticompetitive behaviour, nor be exploited by financially already unhealthy companies to receive additional aid without the necessary and effective restructuring plans and whereas all aid should be designed and granted in an economically and socially responsible manner; whereas in the long run, companies should commit to resume their contribution to sustainable development goals for social, economic and environmental wellbeing and for the fight against climate change;
Amendment 20 #
2020/2223(INI)
Motion for a resolution
Recital B b (new)
Recital B b (new)
B b. whereas competition policy should address efficiently social, digital and environmental challenges, and must be in line with the priorities outlined in the European Green Deal and the objectives of the Paris Agreement;
Amendment 21 #
2020/2223(INI)
Motion for a resolution
Recital B c (new)
Recital B c (new)
B c. whereas the rapid emergence and evolution of digital markets poses new challenges to the effectiveness of competition policy, especially in the field of antitrust rules where so far, ex ante interventions are not allowed;
Amendment 22 #
2020/2223(INI)
Motion for a resolution
Recital B d (new)
Recital B d (new)
B d. whereas data scandals, investigations and evidence have shown how personal date is being collected and stored often in an excessive data storage manner, as well as used and sold to third parties by platforms and how dominant technology players and platforms have been tracking consumers online systematically;
Amendment 23 #
2020/2223(INI)
Motion for a resolution
Recital C
Recital C
C. whereas smart reconciliation of the Union’s competition rules with its industrial and international trade policies is essential for re-shoring value chaaching the objectives under the European Green Deal and the Pillar of Social Rights while securing activities and bolstering global competitiveness; nd creating decent jobs in the EU and third countries; whereas the Commission is currently carrying out a general review of competition policy enforcement effectiveness including antitrust regulations, a number of State aid rules and guidance, and the evaluation of merger control rules and the review of the Merger Definition Notice;
Amendment 42 #
2020/2223(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Notes that competition policy is not solely about ensuring “fair” or low prices for consumers but also about providing quality, innovation and sustainability; urges the Commission in that regard to strengthen the role of the European Consumers Centres Network (ECC-Net) in the spirit of the ECN+ Directive1a; _________________ 1a OJ L 11, 14.1.2019, p.3.
Amendment 55 #
2020/2223(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Considers that ensuring a level playing field for undertakings in the single market also depends on decisively and effectively combating social dumpingnd on the international level is key for European companies, especially SMEs, and for the creation of decent and sustainable jobs within and outside the EU, respecting high labour and environmental standards; calls in that respect on the Commission to step up its efforts to establish a legal framework for a mandatory Human Rights and environmental due diligence instrument;
Amendment 71 #
2020/2223(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Is concerned with the rapid evolvement of the digital markets and that existing competition policy instruments cannot always provide for quick and efficient ex-ante detection and timely intervention, especially in antitrust-cases; welcomes in this regard the Commission proposal on DSA and DMA, and looks forward to further analysis on how competition policy and market monitoring tools can be adapted to the digital markets evolution;
Amendment 80 #
2020/2223(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the adoption of a Temporary Framework for State aid measures established in response to the COVID-19 crisis and supports its application for as long as the recovery is ongoing;
Amendment 88 #
2020/2223(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Highlights the importance of policy coherence and for any aid granted to be issued only to companies enduring direct financial consequences of the pandemic; urges furthermore that companies using tax havens outside the EU for tax avoidance to be banned from accessing State Aid or financial support if they do not commit to changing their behaviour;
Amendment 92 #
2020/2223(INI)
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Recalls that recapitalisation, even under the temporary framework, should be considered only as the last resort solution by Member States, given the potential major distortive impact recapitalisation measures can have on the single market; is of the opinion that recapitalisation measures or any other public financial support to companies should be conditional upon the funding being used to benefit employees and that the recipient companies should refrain from bonuses to the management, paying out dividends or offering share buy-back schemes for as long as they receive such support;
Amendment 97 #
2020/2223(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls on the Commission and the Member States to launch a post COVID-19 roadmap for less and better targeted State aid; including a chapter on competition policy on, among others, how to tackle fragmentation, market distortions and an unlevel playing field in the single market caused by Member States’ asymmetric capacities to apply State Aid as well as clear guidance on how to best use competition policy tools to foster a recovery with sustainable jobs and sustainable transition of companies; calls furthermore for the roadmap to encompass a first assessment on the effect of the pandemic on, and thus the future of, EU competition policy;
Amendment 119 #
2020/2223(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
Amendment 130 #
2020/2223(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Highlights the reinforcement of 11bn€ to reinforce the endowment of expenditure programmes in the MFF 2021-2027 that will come from a new mechanism linked to the proceeds from fines collected by the Union and will result in automatic additional allocations to the concerned programmes also resulting in a genuine increase of the MFF ceilings on a yearly basis, in line with Parliament’s long-standing demand for such revenues to finance the EU budget;
Amendment 138 #
2020/2223(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Emphasises the importance of global dialogue and cooperation on competition policy enforcement and a common approach towards fair competition;
Amendment 142 #
2020/2223(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Stresses that competition policy decisions should not be used as a form of protectionist measure or non-tariff barrier to trade;
Amendment 143 #
2020/2223(INI)
Motion for a resolution
Paragraph 9 b (new)
Paragraph 9 b (new)
9 b. Calls for the EU and the UK to find common ground to continuously cooperate and strive towards fair competition and a level playing field;
Amendment 177 #
2020/2223(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. InvitesHighlights the importance of Important Projects of Common European Interest (IPCEI); calls on the Commission to identify strategic dependencies, particularly in sensitive industrial ecosystems, and to propose measures to reduce these, including by diversifying production and supply chains, fostmote major IPCEIs in these areas; underlines the need to simplify the relevant procedures so that smaller ing production and investment in Europe, dustrial research projects cand ensuring strategic stockpilingasily benefit from its support;
Amendment 184 #
2020/2223(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Supports the inclusion in EU competition rules of a thorough State aid check on undertakings from third countries, while stressing that the Union should remain open to foreign direct investments complying with its legal framework and not distorting competition;
Amendment 196 #
2020/2223(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15 a. Highlights the importance of a European competition policy design fit to tackle new challenges linked to the use of data, algorithms and fast-moving markets in an increasingly digital environment, as well as strengthening cooperation networks between Member States' authorities and the Commission to support fair competition in the single market;
Amendment 201 #
2020/2223(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Considers, while acknowledging efforts made, that problems linked to large technology undertakings’ excessive market dominance have so far been insufficiently addressed and need to be resolved urgently; welcomes in that context the Commission's proposals for a Digital Services Act and a Digital Markets Act;
Amendment 204 #
2020/2223(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Looks forward to seeing how the DMA and DSA will resolve in practice the structuring of big platforms and ensure adequate market oversight enabling intervention before a dominant position is established;
Amendment 211 #
2020/2223(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Takes the view that new competition tools might be needed to deal with structural competition problems across digital markets which current rules cannot address in the most effective manner and calls for careful Commission surveillance on these markets so as to be able to act fast on major issues and legal loopholes;
Amendment 222 #
2020/2223(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Recalls that data driven advantages linked to data sharing and data selling, but also services set as default settings risk conferring some companies the position of a so-called “gatekeeper” in the digital markets and need to be addressed effectively by the DMA and DSA;
Amendment 232 #
2020/2223(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 250 #
2020/2223(INI)
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21 a. Further encourages the structured dialogues with the Executive Vice- President for Competition and the efforts by the Commission to maintain close co- operation with the members of Parliament’s competent committee; considers the Commission’s annual report on competition policy an indispensable exercise in terms of democratic scrutiny; recalls that in recent years Parliament has been involved through the ordinary legislative procedure in shaping the framework for competition rules; notes that Parliament should begiven co- decision powers to shape the framework for competition rules; recalls its previous request to amend the treaties accordingly;
Amendment 268 #
2020/2223(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25 a. Recalls, with view to its report on competition policy 2019 (2019/2131 (INI))2a that abuse of market power can take place even when products or services are supplied for free or in exchange of private data; believes that the passing on of private data to third parties for marketing or commercial purposes is frequently done without the consumer’s proper consent, as alternatives to sharing data are often not provided; considers that in the digital economy, the concentration of data in a small number of companies leads to market failures, excessive rent extraction and a blocking of new entrants; _________________ 2a https://www.europarl.europa.eu/doceo/doc ument/A-9-2020-0022_EN.html
Amendment 296 #
2020/2223(INI)
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27 a. Reiterates that taxation is sometimes used to grant indirect State aid, creating an uneven playing field in the internal market; deplores the abuse of tax rulings, points out that royalties as a financial product do not only risk to facilitate money laundering but also to undermine competition in the single market; recalls that aggressive tax planning does not solely harm fair competition but also undermines the proper functioning of social systems in general; insists that the Commission has access to the information exchanged between the Member States’ tax authorities so as to better detect violations of competition rules; recalls that examination by the Commission of a tax ruling under a State aid point of view does not constitute tax harmonisation;
Amendment 305 #
2020/2223(INI)
Motion for a resolution
Paragraph 28 a (new)
Paragraph 28 a (new)
28 a. Welcomes the Commission repeal of the Apple ruling; Is of the opinion that the Apple case shows once more the need for sound state aid rules, taking into account beneficial tax regimes; repeats its call for a minimum effective tax rate and a Common Consolidated Corporate Tax Base (CCCTB) and public country-by- country reporting (pCBCR); awaits the results of the ongoing international negotiations on a digital tax;
Amendment 319 #
2020/2223(INI)
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30 a. Considers in particular antitrust proceedings as too lengthy, slowing down much needed market corrections and consequently negatively impacting effectiveness of competition law enforcement, especially in the case of rapidly growing digital markets; calls therefore for faster antitrust proceedings and asks for cooperation on this not only from the Commission but also from the companies under investigation; condemns in that context that some companies under investigation artificially prolong investigations by systematically requesting prolongations of deadlines and by replying to requests for information only with substantial delays or by submitting ineffective proposals for commitments they would take;
Amendment 321 #
2020/2223(INI)
Motion for a resolution
Paragraph 30 b (new)
Paragraph 30 b (new)
30 b. Welcomes the introduction of the “eLeniencytool” by the Commission to further improve the effectiveness of competition policies implementation; recalls that with the swift development of the digital markets, new challenges arise when it comes to the implementation of competition policies; recommends in that sense the Commission to look into the possibilities to intervene ex ante, especially in the digital markets and to provide EU and national competition and regulatory authorities with the necessary means to gather data anonymously so as to be able to better detect market failures in due time;
Amendment 327 #
2020/2223(INI)
Motion for a resolution
Paragraph 31 a (new)
Paragraph 31 a (new)
31 a. Points out that while the level of fines imposed by the Commission is amongst the highest in the world, nearly two-thirds of the fines imposed by the Commission in cartel cases since 2006 stayed below 0.99% of global annual turnover, thus well below the ceiling of 10% of a company’s annual worldwide turnover allowed3a; notes that while the ECA rightly points out that the amount of fines alone does not allow conclusions on whether they are effective deterrents, the ECA also underlines that the ceiling itself of possible fines can limit the deterrent effect in “serious cases”; _________________ 3a https://www.eca.europa.eu/Lists/ECADoc uments/SR20_24/SR_Competition_policy _EN.pdf
Amendment 329 #
2020/2223(INI)
Motion for a resolution
Paragraph 31 b (new)
Paragraph 31 b (new)
31 b. Recalls that even when heavy fines are imposed they are often not enough of a deterrent, also because they may be passed on to consumers; calls therefore on the Commission to evaluate the deterrence effect of its fines and the usefulness of fines of up to 40% of the worldwide annual turnover of companies to be imposed in serious cartel cases, as it is the case already in one Member State; urges moreover that non-compliance for recurrent infringers should lead to additional sanctions, such as alternative behavioural remedies or the obligation to take specific structural measures which could be a combination of recommendations from the Commission; stresses that the cease-and-desist order should be much more prescriptive in upcoming remedies;
Amendment 338 #
2020/2223(INI)
Motion for a resolution
Paragraph 32 a (new)
Paragraph 32 a (new)
32 a. Highlights the possibility of using interim measures to stop any practice that would seriously harm competition and welcomes the Commission’s first use of interim measures in the Broadcom-case; is nonetheless of the opinion that there remains a need to relax the criteria for interim measures in order to avoid any irreversible damage;
Amendment 342 #
2020/2223(INI)
Motion for a resolution
Paragraph 32 b (new)
Paragraph 32 b (new)
32 b. Regrets the fact that selling at a loss is not prohibited at EU level; highlights the important contribution made by primary producers in supplying high-quality food and delivering public goods to society; calls on the Commission to guarantee fair competition and greater transparency in offline platforms’ commercial practices, including supermarket and hypermarkets, so as to ensure that EU producers receive fair conditions and prices for their products;
Amendment 2 #
2020/2202(INI)
Draft opinion
Recital A a (new)
Recital A a (new)
A a. whereas in 2021 EU imports of goods from the United Kingdom are estimated at EUR 146 billion, which is a marked decline both compared to 2020 (- 13.6%) and to 2019 (-24.8%); whereas in the same year EU exports of goods to the United Kingdom are estimated at EUR 283 billion, up by 1.9% compared to 2020 but still 11.4% below the level registered in 2019;
Amendment 3 #
2020/2202(INI)
A b. whereas EU imports and exports of goods with the rest of its partners sharply rose in 2021 compared to 2020 and above the 2019 pre-pandemic levels, while trade with the United Kingdom is still far from its pre-pandemic level;
Amendment 16 #
2020/2202(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Notes that the UK’s withdrawal from the EU has resulted in trade and supply chain disruptions and rising costs for traders in various sectors, investors and industry due to transportation shortages, shipping delays and customs border commotion, difficulties in complying with changing import rules and customs border commotion as a consequence of dual regulatory systems and additional formalities; notes that this has resulted in an overall decline in the UK’s trade in goods and services with the EU, in stark contrast to trade between Northern Ireland and the Republic of Ireland which has increased significantly since the Protocol began operating in January 2021;
Amendment 28 #
2020/2202(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Underlines that the rigorous, timely and full implementation of the Withdrawal Agreement and of the Trade and Cooperation Agreement, which are based on international law, is and will always remain a key priority for the Union;
Amendment 35 #
2020/2202(INI)
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Urges the Commission to continue monitoring the United Kingdom’s regulatory system in the areas covered by the TCA, in order to ensure that it does not conflict with the TCA provisions and that Union workers and businesses are not put at a competitive disadvantage;
Amendment 42 #
2020/2202(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Calls on the Commission to keep the European Parliament fully informed in a timely manner of all difficulties that may arise, in particular possible breaches of the Agreements, putting at risk a level playing field and fair competition for Union's workers and businesses.
Amendment 43 #
2020/2202(INI)
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Welcomes the Commission proposal to lay down rules and procedures governing the exercise of Union's rights under the Withdrawal Agreement and the Trade and Cooperation Agreement.
Amendment 7 #
2020/2137(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Reiterates that global value chains are the key feature of the global economy and that trade policy must contribute to a transparent production process throughout the value chain, including subcontracting chains, and demonstrate compliance with environmental, human rights, social and safety standards;
Amendment 13 #
2020/2137(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Acknowledges the recent European Commission study on directors’ duties and sustainable corporate governance that current corporate decision-makers focus on short-term shareholder value maximisation rather than on the long-term interests of the company, and its stakeholders, who aim for long-term environmental and social sustainability of European businesses1a; _________________ 1ahttps://op.europa.eu/fr/publication- detail/-/publication/e47928a2-d20b-11ea- adf7-01aa75ed71a1
Amendment 14 #
2020/2137(INI)
Draft opinion
Paragraph 2 b (new)
Paragraph 2 b (new)
2 b. Underlines that the impact of corporate short termism on EU business trading practices in third countries is unsustainable; notes the importance of promoting social sustainability in third countries; stresses that promoting sustainable corporate governance in trade policy has a positive impact on the supply chain, and towards achieving the Sustainable Development Goals, and the Paris agreement targets;
Amendment 26 #
2020/2137(INI)
Draft opinion
Paragraph 2 c (new)
Paragraph 2 c (new)
2 c. Stresses the importance of coherence between corporate governance structures of EU businesses and EU efforts in dialogue with third countries on responsible business conduct through Trade and Sustainable Development chapters in Free Trade Agreements; notes that a sustainable long-term holistic approach is needed
Amendment 27 #
2020/2137(INI)
Draft opinion
Paragraph 2 d (new)
Paragraph 2 d (new)
2 d. Notes that a balanced composition of the Domestic Advisory Groups (DAGs) as well as lessons learnt from their experience as an inclusive structured dialogue could be used as a model for EU corporate structures that takes civil society on board;
Amendment 29 #
2020/2137(INI)
3. Notes that the COVID-19 crisispandemic has exposed the vulnerabilities of unregulated global supply chains, andwhich showed that the voluntarily rules are insufficient; especially in the garment sector where production was disrupted during the crisis with negative effects throughout the supply chain; notes that businesses with better environmental, social and governance practices and risk mitigation processes weather the crisises better;
Amendment 39 #
2020/2137(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Notes with concern that less than 1 % of companies publicly list their suppliers, even in high-risk sectors; emphasizes the importance of more transparency in the supply chain to oversee binding environmental, social, and human rights standards; stresses the need for the review of the non-financial reporting directive (NFRD) to greatly increase corporate transparency in the supply chain;
Amendment 50 #
2020/2137(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Stresses that directors’ duties should encompass an obligation to develop, disclose and implement a corporate sustainability strategy for all aspects of the company’s operations, including its supply chains; based on international social, environmental and human rights standards; underlines that consultation with local communities is important;
Amendment 59 #
2020/2137(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses that the requirement to disclose information on how sustainability issues affect the company and how the company affects society and the environment should include the sharing of all relevant information on all actors throughout the entire supply chain; notes that sharing this information is based on the reporting system Non-Financial Reporting Directive (‘NFRD’)
Amendment 64 #
2020/2137(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Notes that as part of the revision of the reporting system Non-Financial Reporting Directive (‘NFRD’) the behaviour of a company in the supply chain has an impact; by extending the scope of the NFRD to the supply chain the impact of sustainable corporate governance will be bigger;
Amendment 17 #
2020/2124(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas the EIB has taken on a significant role in mobilising financing to the economy following the economic fallout caused by the COVID-19 pandemic in 2020;
Amendment 20 #
2020/2124(INI)
Motion for a resolution
Recital B b (new)
Recital B b (new)
B b. whereas the EIB committed in 2019 to support the objectives of the European Green Deal, align all its financing activities with the goals of the Paris Agreement and become the ‘EU Climate Bank’;
Amendment 21 #
2020/2124(INI)
Motion for a resolution
Recital B c (new)
Recital B c (new)
B c. whereas the EIB Board of Directors approved the Climate Bank Roadmap (CBR);
Amendment 22 #
2020/2124(INI)
Motion for a resolution
Recital B d (new)
Recital B d (new)
B d. whereas the EIB has started the review process of its 2011 Transport Lending Policy, with the goal of supporting accessible, efficient, green and safe transport;
Amendment 23 #
2020/2124(INI)
Motion for a resolution
Recital B e (new)
Recital B e (new)
B e. whereas support for SMEs and Midcaps is a fundamental public policy goal of the EIB; whereas in 2019 alone, the EIB Group supported over 386 600 SMEs and mid-caps with new financing; whereas support for SMEs accounted for 35% of overall EIB signature volume;
Amendment 24 #
2020/2124(INI)
Motion for a resolution
Recital B f (new)
Recital B f (new)
B f. whereas EIB investment has the capacity to support the social sector, including health, education and housing;
Amendment 25 #
2020/2124(INI)
B g. whereas in 2019 the EIB approved loans worth EUR 7.8 billion for projects outside the Union, including EUR 1.1 billion in least developed countries (LDCs) and fragile states;
Amendment 26 #
2020/2124(INI)
Motion for a resolution
Recital B h (new)
Recital B h (new)
B h. whereas the EIB Group is currently working to develop counterparty alignment guidelines with environmental and sustainability objectives;
Amendment 27 #
2020/2124(INI)
Motion for a resolution
Paragraph -1 (new)
Paragraph -1 (new)
-1. Stresses that the economic and social crisis caused by the Covid-19 pandemic has significantly harmed economic growth in the EU and that one of the main fallouts is the decline in investment; underlines that the fall in public and private investment has reached alarming levels;
Amendment 35 #
2020/2124(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Supports the European Council’s conclusion that the EIB should have the necessary capital to implement Union policies and the invitation to the EIB Board of Governors to review the capital adequacy of the EIB in view of the instruments included in the MFF and NGEU, as well as the Bank's contribution to the Union's ambitions in fighting climate change and digitalising Europe's economy;
Amendment 46 #
2020/2124(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Takes the view that a capital increase is justified in order to allow the Bank to provide long-term finance and support key real economy investments that otherwise would have not taken place, while keeping the current AAA status;
Amendment 49 #
2020/2124(INI)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. Calls, in this context, on the European Commission to study the possibility to be represented in the EIB Board of Governors through the subscription of capital of the EIB using funds from the EU budget;
Amendment 61 #
2020/2124(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Commends the EIB for setting out targets and carrying out evaluations of the economic, social and environmental impacts of projects supported, as well as their additionality and sustainability;
Amendment 64 #
2020/2124(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Stresses the importance of avoiding further geographical imbalances in the EIB’s lending activity so as to ensure a broader geographical and sectoral allocation of investments, reduce regional disparities and enhance convergence; welcomes the efforts already made by the EIB in this regard; notices with concern, however, that, according to the geographical breakdown of lending by country in which projects are located, four Member States received almost 50% of the total loans granted in 2019;
Amendment 69 #
2020/2124(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Calls for the EIB to address systemic deficiencies that prevent certain regions or countries from taking full advantage of EIB financial opportunities, by, inter alia, strengthening its efforts to expand its loan activities, providing technical assistance and advisory support, especially in regions which attract low investment and which did not benefit significantly from the derogation to the State-aid rules during the pandemic crisis because of the lack of financial capacity of the State;
Amendment 79 #
2020/2124(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Notes that in the context of the Coronavirus response and as of 30 September 2020, the EIB has approved 84 operations within the EU for a total investment of €23,5 billion; notes as well that 88% of the approved operations were allocated to SMEs and mid-caps and the health sector;
Amendment 81 #
2020/2124(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Welcomes the EIB’s participation in COVAX, by investing €400 million in the COVAX Advanced Market Commitment;
Amendment 87 #
2020/2124(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Welcomes the fact that in 2019 31% of EIB’s lending was climate- related;
Amendment 108 #
2020/2124(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Notes that the EIB will structure future work on the implementation of the Roadmap around ten new Action Plans, which will build on the first five years of implementation of the EIB’s 2015 Climate Strategy; Demands, in this context, to be regularly and fully informed on the implementation of the Roadmap;
Amendment 111 #
2020/2124(INI)
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14 b. Calls on the EIB to continue to advance mechanisms to better incorporate the inputs from various stakeholders, such as local and regional authorities, trade unions, NGOs and relevant experts, in its investment strategy as the EU’s Climate Bank;
Amendment 112 #
2020/2124(INI)
Motion for a resolution
Paragraph 14 c (new)
Paragraph 14 c (new)
14 c. Welcomes the EIB’s commitment to support the European Commission’s Sustainable Finance Action Plan, in particular by aligning with the EU Taxonomy for tracking climate action and environmental sustainability finance, and by adopting the “Do No Significant Harm” criteria as a base to evaluate projects;
Amendment 113 #
2020/2124(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Recalls that the review of the EIB’s transport lending policy is a key priority; stresses the importance of aligning the EIB’s transport portfolio with the Paris Agreement as soon as possible; calls for the swift adoption of a new transport financing policy strategy aiming to decarbonise the EU transport sector by 2050 and promote accessible, efficient, green and safe means of transport; underlines, in this context, that the EIB should continue its engagement in financing innovation and green technology for aviation;
Amendment 128 #
2020/2124(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Calls on the EIB to support projects aimed at facilitating a just transition in the Member States; underlines that the transition towards a carbon-neutral economy must be inclusive, fair and must leave no one behind; suggests the EIB to proactively work with Member States in view of supporting regions where jobs are highly dependent on high-emitting industries;
Amendment 129 #
2020/2124(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Welcomes the fact that the EIB is the world’s largest issuer of green bonds which have raised € 34,6 billion of Climate Awareness Bonds and Sustainability Awareness Bonds over 12 years; calls on the EIB to continue and to expand the issuance of green bonds to enhance the liquidity of that market and to remain involved in the development of an EU green bond standard;
Amendment 140 #
2020/2124(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Welcomes the fact that in 2019 the EIB supported innovation and skills with €14.4 billion; calls the EIB to enhance its support for innovation and skills;
Amendment 141 #
2020/2124(INI)
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17 b. Recalls that SMEs are the back bone of Europe's economy, representing 99% of all businesses in the EU and employing at around 100 million people Welcomes the fact that in 2019 the EIB provided financing for SMEs and mid- caps with total investment amounting to €25.5 billion, supporting 386 000 companies;
Amendment 146 #
2020/2124(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Notes that the COVID-19 outbreak revealed the fragility of the EU’s supply chains and the insufficiency of IT networks; calls on the EIB to align its investment strategy to help ensure greater resilience of the internal market’s value chains and strengthen the European industrial sector, especially in strategic areas;
Amendment 149 #
2020/2124(INI)
Motion for a resolution
Paragraph 18 b (new)
Paragraph 18 b (new)
18 b. Calls on the EIB to mobilise sufficient support for infrastructure on delivering faster internet speed to all regions in the EU and bridge the existing digital divide;
Amendment 153 #
2020/2124(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Calls on the EIB to continue its support towards advancing digital skills, in particular for employees in sectors of the economy in need adjustment and requalification;
Amendment 154 #
2020/2124(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19 b. Calls on the EIB to enhance its support to innovative European companies through all stages of development, from seed to growth capital, financing the creation of a knowledge economy by combining investment in skills, research, infrastructure and energy efficiency with support for young tech companies;
Amendment 159 #
2020/2124(INI)
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20 b. Welcomes the EIB’s commitment to invest in the social sector, thereby fostering well-being, access to education, health and housing, as well as the acquisition of skills required by a modern knowledge-based economy;
Amendment 165 #
2020/2124(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Calls on the EIB to play an active role in helping Member States to deliver on the implementation of the European Pillar of Social Rights, while standing ready to align with the forthcoming Commission action plan and the Social Summit in Porto; points toreiterates the importance of ex-ante and ex- post evaluations of the sustainability, economic, social and environmental impact of projects backed directly or indirectly by the EIB;
Amendment 170 #
2020/2124(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Calls on the EIB to refrain from participating in projects which may weaken citizens’ access to high quality public services;
Amendment 171 #
2020/2124(INI)
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
22 b. Notes that the COVID-19 pandemic has had a huge negative impact on children’s education and well-being across the globe, with millions of children still without access to education due to lockdown measures and therefore at risk of regression and suffering potential lifelong effects; welcomes the EIB’s investment in education, as investing in education helps to eradicate poverty, boost economic growth and improve gender equality; calls on the EIB to increase its investment in education to help mitigate the severe impact of the COVID-19crisis on education systems globally;
Amendment 172 #
2020/2124(INI)
Motion for a resolution
Subheading 6
Subheading 6
Amendment 173 #
2020/2124(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Welcomes the fact that the EIB is the largest multilateral lender in the world that strives to support EU external cooperation and development policies; notes that the EIB has been active outside the EU for over 50 years with €64.8bn loans granted in 106 different countries as of end-2019, of which EUR 7.9bn were signed in 2019;
Amendment 175 #
2020/2124(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Insists that the EIB should apply the same standards and criteria to assess and evaluate projects inside and outside the European Union, including those recently agreed in the CBR ; Considers, in this context, that the EIB should enhance its monitoring and reporting of projects outside the EU and improving its analysis of the economic, social and environmental impacts;
Amendment 176 #
2020/2124(INI)
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23 b. Welcomes the provisional agreement reached between the European Council and the European Parliament on the regulation setting up the Neighbourhood, Development and International Cooperation Instrument; notes in particular the role the EIB will play in the context of the European Fund for Sustainable Investment;
Amendment 183 #
2020/2124(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24 a. Stresses the need for full alignment of EIB investments in third countries with EU external action and sustainable development priorities;
Amendment 192 #
2020/2124(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Proposes the establishment of a protocol for a Memorandum of Cooperation between the EIB and Parliament, applicable with immediate effect, in order to improve interinstitutional dialogue and enhance the EIB’s transparency and accountability, specifying the rights of Parliament and its Members as regards access to documents, data, questions put to the EIB, regular hearings and economic dialogues;
Amendment 221 #
2020/2124(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Welcomes the EIB’s Group Strategy on Gender Equality and Gender Action Plan; takes note of the 2019 Progress Report on Diversity and Inclusion; notes that women represent 51.4% of the EIB workforce; regrets the fact that women are still not sufficiently represented in managerial and senior office positions; believes that more needs to be done in this regard during the implementation of the second phase of the Action Plan in 2021; calls, therefore, on the EIB to further encourage the participation of women and actively promote a balance gender representation in its senior positions;
Amendment 237 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30 a. Calls on the EIB to take advantage of the ongoing review of its overall policy on alignments with counterparties and ensure greater transparency and stricter due diligence over its partners and their eligibility to disburse EIB-backed funds under strict conditionality, comprising ethical, integrity, social and environmental criteria;
Amendment 239 #
2020/2124(INI)
30 b. Reiterates, in this regard, its call on the EIB to only work with counterparties which have decarbonisation plans in place by the end of 2025, without prejudice to the ability of the EIB to offer technical assistance on devising such decarbonisation plans;
Amendment 240 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 c (new)
Paragraph 30 c (new)
30 c. Asks the EIB to provide more regular, in-depth and comprehensive information on the financial intermediaries responsible to redistribute loans in the context of lending operations and include contractual clauses concerning mandatory disclosures from these institutions;
Amendment 241 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 d (new)
Paragraph 30 d (new)
Amendment 242 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 e (new)
Paragraph 30 e (new)
30 e. Calls on the EIB to reinforce contractual clauses enabling it to suspend disbursements in cases of projects' non- compliance with environmental, social, human rights, tax and transparency standards;
Amendment 243 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 f (new)
Paragraph 30 f (new)
30 f. Welcomes that the EIB Anti- Fraud Policy, which is the main framework on preventing and deterring Prohibited Conduct in EIB activities, is currently being revised;
Amendment 244 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 g (new)
Paragraph 30 g (new)
30 g. Calls furthermore for a stringent Exclusion Policy, to provide the Bank with the possibility to go beyond the application of contractual remedies, by excluding entities found engaged in fraud, corruption, money laundering or other forms of wrongdoing from EIB financing;
Amendment 245 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 h (new)
Paragraph 30 h (new)
30 h. Takes note of the December 2020 Anti-Money Laundering and Combating Financing of Terrorism Framework of the EIB; is concerned that the framework outlined is not detailed on specific procedures to align the Bank’s activities with EU law, namely on customer due diligence and in particular when enhanced due diligence takes place;
Amendment 246 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 i (new)
Paragraph 30 i (new)
30 i. Welcomes the adoption of the EIB Group non-cooperation jurisdiction (NCJ) policy in 2019 and subsequent revision of implementing internal procedures; recalls that the policy foresees a general prohibition to enter into operations with contracting counterparties incorporated or established in NCJs, except under strict conditions;
Amendment 247 #
2020/2124(INI)
Motion for a resolution
Paragraph 30 j (new)
Paragraph 30 j (new)
30 j. Welcomes the European Court of Auditors’ work with respect to Union budget funds managed by the EIB and calls on the institutions to agree on enhancing ECA audit rights within the limits of the EU Treaties;
Amendment 6 #
2020/2122(INI)
Motion for a resolution
Citation 40 a (new)
Citation 40 a (new)
— having regard to the European Commission action plan for a comprehensive Union policy on preventing money laundering and terrorism financing of 7 May 202029a, _________________ 29ahttps://ec.europa.eu/info/business- economy-euro/banking-and- finance/financial-supervision-and-risk- management/anti-money-laundering-and- counter-terrorist-financing_en
Amendment 22 #
2020/2122(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas a more stable, competitive and convergent Economic and Monetary Union requires a Banking Union with a European Deposit Insurance Scheme, a Capital Markets Union, a permanent Budgetary Instrument, a revised fiscal framework and more effective cooperation and coordination on tax affairs;
Amendment 28 #
2020/2122(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas both the ECB and the SRB call for the swift completion of the Banking Union namely with the establishment of the EDIS (European Deposit Insurance Scheme);
Amendment 34 #
2020/2122(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the lack of a solution to the treatment of sovereign debt exposures andin the banking prudential framework national options and discretions persists, undermining the European dimension of the Banking Union;
Amendment 41 #
2020/2122(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas more than ten years after the financial crisis, the ‘too big to fail’ and ‘too interconnected to fail’ problems remain insufficiently addressed;
Amendment 43 #
2020/2122(INI)
C a. whereas the regulatory treatment of sovereign debt exposures in the EU is in line with international standards;
Amendment 54 #
2020/2122(INI)
Motion for a resolution
Recital E
Recital E
E. whereas consumer protectionand investor protection is paramount to the deepening of the Capital Markets Union (CMU), but varies across the Banking Union;
Amendment 56 #
2020/2122(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas the Banking Union still lacks effective tools to tackle problems consumers are facing: artificial complexity, unfair commercial practices, exclusion of vulnerable groups from using basic services as well as limited involvement of public authorities;
Amendment 59 #
2020/2122(INI)
Motion for a resolution
Recital F
Recital F
F. whereas prudential and anti-money laundering supervision is necessaryfully harmonised standards and institutional cooperation on the prudential aspects of anti-money laundering and anti-money laundering supervision and enforcement are necessary to protect the integrity of the EU’s financial system;
Amendment 66 #
2020/2122(INI)
Motion for a resolution
Recital G
Recital G
G. whereas the withdrawal of the UK from the EU has resulted in the relocation of some banking services to the EU;
Amendment 68 #
2020/2122(INI)
Motion for a resolution
Recital H
Recital H
H. whereas the EU and the UK are currently committed to maintaining regulatory and supervisory cooperation in the field of financial services; whereas this engagement by the UK should be kept for future relations;
Amendment 76 #
2020/2122(INI)
Motion for a resolution
Recital J
Recital J
J. whereas depositors across the Banking Union shouldmust enjoy the same level of protection;
Amendment 92 #
2020/2122(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Recalls that the Banking Union has delivered the institutional set-up for greater market integration, through the SSM and the SRM, while its third pillar, a European deposit insurance scheme (EDIS) is still lacking;
Amendment 104 #
2020/2122(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Notes that the full implementation of the Banking Union is necessary to deliver better conditions for the financing of the European economy, both to households and companies, still largely reliant on bank credit to foster investment and job creation;
Amendment 119 #
2020/2122(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Underlines the vital contribution to addressing the crisis of public guarantee schemes, moratoria on loan repayments for borrowers in financial difficulty, the central banks’ liquidity programmes and the ECB’s targeted longer-term refinancing operations (TLTRO) and pandemic emergency purchase programme (PEPP); stresses the importance of keeping the above measures in place as long as necessary;
Amendment 146 #
2020/2122(INI)
8. Calls for a well-orchestrated, gradual shift from pandemic relief to recovery support tools, taking into consideration at every step the current conditions;
Amendment 153 #
2020/2122(INI)
Motion for a resolution
Paragraph 8 c (new)
Paragraph 8 c (new)
8 c. Reminds that the European Green Deal shall be a cornerstone of EU policies in the upcoming years; underlines the role of private finance and investments in supporting the climate transition, as established in the Sustainable Europe Investment Plan; welcomes recent and upcoming legislative action that incentivises investments in line with the European Climate Law, including the EU taxonomy climate delegated act and the establishment of a EU green bond standard;
Amendment 157 #
2020/2122(INI)
8 a. Stresses that completing the Economic and Monetary Union requires the completion of the Banking Union with a European Deposit Insurance Scheme, a more developed and safe Capital Markets Union, a permanent budgetary instrument, a revised fiscal framework and more effective cooperation and coordination on tax affairs;
Amendment 158 #
2020/2122(INI)
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Underlines the importance of completing the Capital Markets Union, which complements the Banking Union in the financing of the real economy; stresses, furthermore, that a fully integrated Capital Markets Union together with a fully-fledged Banking Union would allow for public and private risk sharing, and would moreover strengthen the international role of the euro as well as further enhancing the competitiveness of European markets and promoting sustainable private investment; highlights, in this regard, the need for a level playing field that avoids disadvantages for SMEs in terms of access to finance, and the need to carefully monitor the issuance of securitised products;
Amendment 162 #
2020/2122(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes the accelerated pace of digitalisation in the banking sector, while pointing to the insufficient level of investment and regulation in this area;
Amendment 166 #
2020/2122(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Welcomes the Commission’s Proposal for a Corporate Sustainability Reporting Directive (CSRD); calls on the Commission to deploy further efforts to better align financial market activity with sustainability objectives and environmental, social and governance criteria, including the development of sustainability ratings based on ESG criteria;
Amendment 185 #
2020/2122(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes the interdependencies between banks and central counterparties (CCPs) and increasingly with crypto- assets and digital finance;
Amendment 188 #
2020/2122(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Calls on the Commission to consider to what extent the growing importance of non-bank financial intermediation and its interconnection with the banking sector require additional macroprudential tools, namely the development of ex ante liquidity management tools and careful analysis of existing leverage measures; highlights that the recent pandemic shock illustrated that the non-bank sector can amplify market volatility and price dislocation, particularly when market liquidity comes under pressure;
Amendment 195 #
2020/2122(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Regrets the failure to ensure full gender balance in EU financial institutions and bodies; calls on the governments of the Member States, the European Council, the Eurogroup and the Commission to actively work towards gender balance in their upcoming proposals for shortlists and appointments, endeavouring to include at least one female and one male candidate per nomination procedure; reiterates its resolution on respect for the gender balance principle in forthcoming lists of candidates;
Amendment 210 #
2020/2122(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes that sound management of credit risk should remain one of the key priorityies for the SSM;
Amendment 218 #
2020/2122(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Stresses that ensuring proper and timely management of deteriorated exposures will be key to preventing a build-up of non-performing loans (NPLs) in the short term; calls on supervisors to continue to adequately consider the side effects that massive disposals of NPLs can have on prudential balance sheets of banks that use internal models;
Amendment 230 #
2020/2122(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Stresses that banks should diligently assess the financial soundness and viability of businesses, proactively engage with distressed debtors to manage their exposures, and offer financing and restructuring options to viable companies and sectors whose prospects of recovery post pandemic, analysed on a case-by- case basis, remain high; stresses that the prudential framework should be consistently amended to allow and encourage such options;
Amendment 234 #
2020/2122(INI)
18 a. Underlines the need to protect borrowers' rights in the context of NPL transactions and calls on Member States to put measures in place to ensure that borrowers, who might be in already vulnerable financial situations, are not subject to aggressive and unfair treatment and practices by poorly-regulated debt buyers and collectors; calls on the Commission, in the upcoming revision of the Consumer Credit Directive, to laydown more ambitious provisions on the protection of borrowers against abusive practices, ensuring that those rights apply equally to existing and future loans;
Amendment 235 #
2020/2122(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Calls on the ESAs to make full use of their powers to ensure a high degree of consumer protection, including, where appropriate, product intervention powers where financial and credit products have resulted in or are likely to result in consumer detriment;
Amendment 236 #
2020/2122(INI)
18 b. Underlines the importance of protecting consumer rights, namely regarding unfair terms and practices, banking fees, the transparency of products costs, profitability and risks; notes that the Banking Union still lacks effective tools to tackle problems consumers are facing such as unfair commercial practices and artificial complexity; calls, in this respect, on the European Banking Authority to devote more focus in fulfilling its mandate on properly collecting, analysing and reporting on consumer trends, and also on the review and coordination of financial literacy and education initiatives by the competent authorities; calls further on the Commission to scrutinise the unfair clauses and practices employed by the banking sector, in consumer contracts and to ensure the effective and swift implementation by all Member States of the Directive 93/13/EEC on unfair terms by using all means in place;
Amendment 251 #
2020/2122(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Stresses the benefits of banking consolidation in addressing the overcapacities and fragmentation of the banking sector, taking into account each MS specificities; remains concerned, nonetheless with the existence of “too-big- to-fail” institutions; stresses furthermore the benefits of protecting diversity/plurality of financial sectors in building up systemic trust and maintaining the financial stability;
Amendment 252 #
2020/2122(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20 a. Stresses the importance of supervisory guidance recommending conservative policies on dividends and share buy-backs for financial institutions, attending to the need to maintain sufficient capitalisation;
Amendment 261 #
2020/2122(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Is concerned that as Member States sell increasing amounts of sovereign bonds, their share in banks’ balance sheets grows, potentially aggravating the doom loop; considerstresses that the creation of Next Generation EU willcan provide high-qualita truly European safe assets;
Amendment 267 #
2020/2122(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Takes the view that these high quality European Safe Assets will diversify the pool of safe assets available in the EU, providing an opportunity for banks to reduce the exposure of their balance sheets to national sovereign debt and contributing to strengthen the international role of the euro;
Amendment 269 #
2020/2122(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Stresses that the EU regulatory framework on prudential treatment of sovereign debt should be consistent with international standards;
Amendment 275 #
2020/2122(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. NotWelcomes the efforts of the SSM to provide guidance and clarity to banks for self-assessing and appropriately reporting environmental and climate change-related risks; stresses that further supervisory pressure is required for financial institutions to disclose appropriately climate-related and environmental risks; considers the SSM climate risk stress test an important step in evaluating banks’ practices and identifying concrete areas of improvement;
Amendment 285 #
2020/2122(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Notes the EBA’s role in leading, coordinating and monitoring the EU financial sector’s fight against money laundering and terrorist financing; welcomes the ECB’s efforts over the past two years to enhance exchange of information between the SSM and AML/CFT supervisors to better take into account AML aspects in prudential supervision measures;
Amendment 288 #
2020/2122(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25 a. Recalls that for AML/CFT efforts to be effective, the competent authorities and financial institutions must act in a coordinated manner; highlights that prudential and anti-money laundering supervision need to be better aligned; recalls its serious concerns about regulatory and supervisory fragmentation in the field of AML/CFT, which has led to a failure to provide adequate oversight and responses to the deficiencies of national supervisory authorities and undermines their ability to supervise the increasing cross-border activity in the EU; encourages the partial conversion of the provisions laid down in previous anti- money laundering directives into a regulation, thus targeting loopholes;
Amendment 318 #
2020/2122(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Considers it necessary to have in place an EU liquidationcomprehensive regime for banks for which the SRB assesses that there is no public interest in resolution;
Amendment 335 #
2020/2122(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Considers it necessary to review the public interest assessment in order to allow resolution tools to be applied to a broader group of banks, namely for middle-sized banks;
Amendment 350 #
2020/2122(INI)
Motion for a resolution
Paragraph 35
Paragraph 35
35. NotStresses the importance of depositors across the Banking Union enjoying the same level of protection of their savings; takes note of the Commission proposal to further strengthen citizens’ confidence in the protection of deposits by introducing an EDIS;
Amendment 371 #
2020/2122(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. Notes the Commission’s launch of the review of the CMDI framework, including the option of a hybrid EDIS;
Amendment 376 #
2020/2122(INI)
Motion for a resolution
Paragraph 36 a (new)
Paragraph 36 a (new)
36 a. Calls for further steps towards a time-bound work plan on all outstanding elements needed to complete swiftly the Banking Union and deliver a fully-fledged EDIS;
Amendment 89 #
2020/2117(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Emphasises that transparency and dialogue are key to creating support for trade policy; insists that the role and responsibilities of civil society and domestic advisory groups must be clearly defined in the EU’s internationalpolitical and trade agreements, and that financial assistance must be accompanied by capacity-building measures to enable it to function effectively;
Amendment 91 #
2020/2117(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Emphasises that transparency and dialogue are key to creating support for trade policy; insists that the role and responsibilities of civil society and domestic advisory groups must be clearly defined in the EU’s international agreements and that financial assistance must be accompanied by capacity-building measures to enable it to function effectively; while asking the Commission to cooperate more intensively with the European civil society represented in the EESC;
Amendment 139 #
2020/2117(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Is convinced that the EU is too dependent on a limited number of suppliers for critical goods and services, especially for medical and pharmaceutical goods; insists that the EU should overcome these undesirable dependencies via a mix of policies to incentivise companies to stockpile, diversify sourcing strategies and promote nearshoring, - which could create new trading opportunities for partners in the Eastern and Southern Neighbourhoods - and reshoring where necessary;
Amendment 159 #
2020/2117(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Underlines that the loss in biodiversity increases the danger of spreading zoonoses and pandemics; stresses that although trade policy cannot replace environmental policy, it should not reinforce or incentivize production methods that are harmful to biodiversity in the EU and internationally; therefore, in the context of FTAs, calls for the linkage of the phasing in of tariff liberalisations with proven measures for the protection of biodiversity amongst which must be the implementation of the CBD and the CITES; underlines that in order to fulfil this expectation, capacity building measures and financial support for developing countries are vital elements;
Amendment 174 #
2020/2117(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Emphasises, in this connection, the detrimental effects of unilateral measures such as export restrictions and prohibitions and the lack of transparency on global stocks and the subsequent price speculation on scarce essential goods, not least for low and middle-income countries; calls, therefore, for the adoption of the WTO trade and health initiative by the end of 2021 and for greatera new regulation to be drawn up that is much more demanding on transparency on the supply and, production and cost of essential medical products and services;
Amendment 176 #
2020/2117(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Calls for a review of the European Directive on Intellectual Property Rights to ensure that patents do not hinder access to vaccines for COVID-19, to demand the necessary transparency from the industry and a cost-benefit analysis per product that allows for a fair and reasonable patent term and the necessary flexibility in exceptional situations for public health reasons;
Amendment 177 #
2020/2117(INI)
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17b. Calls on the European Commission to make efficient use of its power of centralized public purchasing of vaccines to demand the necessary transparency and contract compliance from suppliers;
Amendment 182 #
2020/2117(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Is concerned about the recent rise in export restrictions on vaccines by the main manufacturing countries such as the US, the UK, China and India and by, to a lesser extent, the EU, and emphasises that this endangers the rapid global scaling up of vaccine production capacity; urges the Commission to engage with producing countries to swiftly eliminate export barriers and to replace the export authorisation mechanism with an export and import notification requirement; insists on having timely and comprehensive access to such data;
Amendment 203 #
2020/2117(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Emphasises that international trade policy must play a proactive role in this endeavour by facilitating trade in raw materials, health and medical essential products alleviating shortages of qualified and experienced personnel, solving supply chain problems and revisiting the global framework for intellectual property rights for future pandemics; insists, in this regard, on a constructive dialogue about a temporary waiver of the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) in order to ensure thato countries do not face retaliation over COVID-19 related patent infringements during the pandemicbute to increasing the industrial capacity for vaccine protection;
Amendment 222 #
2020/2117(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Welcomes the TPRrade Policy Review’s affirmation of multilateralism and the extensive proposals made for the necessary in-depth WTO reform of the WTO; shares; shares the emphasis placed by the Commission’s emphasis on sustainable development in its vision for WTO reform and urges the Commission to bring to beardeploy all efforts to implement a sustainable development agenda, including goals on gender, human rights and labour standards; stresses the importance of taking forward the WTO initiative on trade and climate and to assure the swift connection of the WTO and other organizations of the multilateral system as the WHO;
Amendment 232 #
2020/2117(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Emphasises that reviving the WTO negotiating function will play a key role in any substantial reform of the organisation; highlights, in particular, the need to address competitive distortions caused by industrial subsidies and state-owned enterprises; calls for the Commission to actively pursue a solution to the mismatch between the level of development and the number of commitments undertaken within the international trading system; is convinced that EU leadership is crucial for any meaningful WTO reform to succeed; considers essential that the next WTO ministerial conference address the debate on intellectual property rights, the role of international trade in protecting the world from health threats, and also address the sanctions regime to prevent that the consequences of breaching international trade rules by some members, are paid by sectors not responsible for non- compliance;
Amendment 245 #
2020/2117(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Supports thea new, forward-looking wide transatlantic agenda based on common interests and shared values; urges the Commission and the, giving impulse and priority to the development of the EU relations with all the Americas, based on common interests and shared values, aiming to counterbalance the development of the economic and trade cooperation in the Pacific, to achieve meaningful WTO reform and to find common solutions to common problems; in the new political context invites the new US administration to closely cooperate closely in orderwith the EU institutions to secure a level playing field and to agree on ambitious social, labour and environmental standards and build on each other’s experience to enforce these more efficiently enforce them; calls for joint efforts to overcomeget out of the pandemic, speed up the economic recovery and facilitate trade in vaccines and essential medical goods; reiterates that we should work together to achieve meaningful WTO reform and find common solutions to common problems;
Amendment 254 #
2020/2117(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Is aware of the importance of the EU’s multifaceted trade relationship with China; firmly believes that EU-China trade relations require a more balanced and reciprocal approach; stresses that the process of ratification process of the EU-China Comprehensive Agreement on Investment (CAI) can only begin once the EU has the requisitestart when the EU has its necessary autonomous measures in place, including a ban onf products made using forced labour, an upgraded trade defence toolbox and a working sanctions mechanism on human rights; underlines that the ratification process of the EU- China Comprehensive Agreement on Investment will not start until the Chinese sanctions against MEPs are lifted; demands that the Commission to move forward with the Investment Agreement with Taiwan;
Amendment 264 #
2020/2117(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Welcomes the TPRrade Policy Review’s engagement towards Africa and the Eastern and Southern Nneighbourhoods and looks forward to concrete steps tofor deepening the EU’s relations with these partners; reiterates the importance of a strategic and sustainable partnership with Southe-East Asia, and India and Latin America; calls on all the EU institutions to maintain as a priority in a higher rank of our trade and development cooperation, the generation of greater resilience in front of pandemics and health emergencies;
Amendment 271 #
2020/2117(INI)
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27a. Points out that the COVID crisis has underlined the significance of a new partnership with the African continent; in this context underlines that the question on debt reductions and debt cancellations needs to be answered; underlines the necessity of extending debt-related initiatives to private creditors; highlights the need to create the policy space in African countries for the successful implementation of health related policy measures;
Amendment 274 #
2020/2117(INI)
Motion for a resolution
Paragraph 27 b (new)
Paragraph 27 b (new)
27b. Stresses that the EU needs to actively support the diversification of inner-African value chains;
Amendment 1 #
2020/2114(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Underlines that the rules-basedfair, inclusive, rules-based and non-discriminatory multilateral trading system has been a key driver of global trade liberalisation, which has powered economic growth, job creation, improvement of living standards, income growth and the promotion of sustainable economic development, therefore strengthening prosperity, peace and security; recalls the importance of incorporating a gender perspective into the promotion of inclusive economic growth and to promote women’s empowerment that is key to the eradication of poverty; underlines importance of the Sustainable Development Goals (SDGs) and the Paris Agreement objectives as well as social, environmental and human rights; notes furthermore its role in fostering a predictable trade environment through the development of more transparent and fair trade rules and regulations; believes, however, that there is a need and motivation to rebuild trust in multilateral institutions in the face of global challenges and shifting world power dynamics;
Amendment 14 #
2020/2114(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Regrets the growing tendencies towards protectionism and trade weaponisation that have developed in parts of the global economy; welcomes the strengthening of the EU’s trade enforcement efforts and the development of a toolbox of autonomous trade instruments to respond to these emerging challenges; notes the aim at a reformed and well-functioning multilateral rulebook with an effective functioning dispute settlement system at its core in the World Trade Organization (WTO); stresses the need, however, to remain fully engaged in efforts to reinvigorate the World Trade Organization (WTO) with a view to increasing its effectiveness, inclusiveness, transparency and legitimacy as the cornerstone of a liberalised global economy and to deal with the challenges posed by non-market economies; recalls the need for all WTO members to commit to modernize and equip the WTO with tools to address the trade challenges of the twenty-first century, including digital revolution, green, fair and sustainable transition, and to carry the reform agenda forward aiming at agreeing on a concrete work plan by the next MC12;
Amendment 24 #
2020/2114(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Notes the need to work closely with like-minded partners, and to engage with all members of the WTO that are committed to a positio bring forward a positive agenda for reform; points out that a successful reform will require engaging with all parties involved agenda for reformnd taking into account their valid concerns when agreeing on a compromise solution; recognises that historically it has been EU- US cooperation that has been the main driving force for progress within multilateral trade negotiations, and therefore welcomes the positive statements on WTO reform made by the current US administration, which shand encourages the US to follow through on this with concrete proposals which could provide a basis for renewed engagement on actionable outcomes; supports a forward- looking transatlantic agenda based on common interests and shared values, aiming to achieve meaningful WTO reform, including of dispute settlement;its monitoring, negotiating and dispute settlement functions; regrets the stalemate at the WTO Appellate Body, which is depriving the global trading system of an enforceable dispute settlement system; urges all WTO members to engage on solutions to restore a fully functioning and independent Appellate Body.
Amendment 33 #
2020/2114(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Welcomes the WTO’s close collaboration the World Health Organisation and other international organizations ensuring that trade plays a positive role in addressing the pandemics and subsequent crisis and in supporting the recovery of the global economy; urges the conclusion of an ambitious initiative in the area of trade and health, eliminating trade and regulatory restrictions that affect the distribution of and boosting the capacity to produce active ingredients, medicines, vaccines, treatments and equipment, and on transparency and global cooperation in times of crisis including temporary TRIPS waiver, in order to maintain the resilience of supply chains in the current context but for future crises as well; welcomes the purpose to strengthen pandemic prevention, preparedness and response capacity of the WTO;
Amendment 38 #
2020/2114(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses that democratic, legitimate, accountable and transparent global governance should feature greater participation of parliamentary bodies, as directly elected parliamentarians can function as a crucial link between citizens and the multilateral system; emphasises the importance of the work of the joint European Parliament and Inter- Parliamentary Union parliamentary conference on the WTO; underlines the need to ensure that parliamentarians have better access to trade negotiations and are involved in the formulation and implementation of WTO decisions; reiterates the need for all WTO members to enhance the exchange with stakeholders including civil society and business organisations and community and calls on improved cooperation with other international organisations such as the ILO, the UN system, the OECD and the IMF.
Amendment 19 #
2020/2078(INI)
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 also their specific economic exposures and initial conditions, including the vulnerability of particular sectors and their available scope for discretionary fiscal policy responses; Due to their strong interdependencies, an incomplete recovery in one country would spill over to all the other countries and dampen economic growth everywhere;
Amendment 28 #
2020/2078(INI)
Motion for a resolution
Recital C
Recital C
C. whereas a determined, coordinated and solidarity-based European response is essential to mitigate the negative economic and social consequences of the crisis, the fragmentation of the internal market and the further deepening of macroeconomic divergence and structural polarisation between regions and countries;
Amendment 29 #
2020/2078(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas most of the effects are likely to be temporary and the national and European policies in place to support incomes, jobs, liquidity and investment are effective, economic activity will rebound once restrictions are gradually eased; whereas, nevertheless, lasting negative consequences can be expected, such as continued subdued demand, market and income uncertainties, investment shortfalls and drops in employment, which reduce the productive potential of the economy and harm a return to the former trajectory of production and growth;
Amendment 40 #
2020/2078(INI)
Motion for a resolution
Recital C b (new)
Recital C b (new)
Cb. whereas the Commission estimates total government financing needs at € 5.4trn over 2020 and 2021. This includes pre-crisis financing needs of € 3.7trn and additional financing needs due to the impact of the COVID-19 crisis of € 1.7trn for EU Member States over 2020 and 2021;1a _________________ 1a Commission Staff Working Document: Identifying Europe's recovery needs https://ec.europa.eu/info/sites/info/files/ec onomy- finance/assessment_of_economic_and_in vestment_needs.pdf
Amendment 43 #
2020/2078(INI)
Motion for a resolution
Recital C c (new)
Recital C c (new)
Cc. whereas the COVID 19 crisis is affecting vulnerable groups in particular, resulting in increased inequalities, poverty, unemployment and social divergences, as well as undermining social and employment standards in Europe;
Amendment 47 #
2020/2078(INI)
Motion for a resolution
Recital C d (new)
Recital C d (new)
Cd. whereas women are disproportionately hit as a result of the crisis;
Amendment 48 #
2020/2078(INI)
Motion for a resolution
Recital C e (new)
Recital C e (new)
Ce. whereas the EU and its Member States have committed to the treaty-based values, implementation of the UN 2030 Agenda, the European Pillar of Social Rights and the Paris Climate Agreement;
Amendment 49 #
2020/2078(INI)
Motion for a resolution
Recital C f (new)
Recital C f (new)
Cf. whereas the disruption is affecting the European economy as a whole, and whereas an equal debt issuance capacity and access to funding must be ensured in order to deal with the crisis, including for Member States not in the euro area;
Amendment 50 #
2020/2078(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes with great concern that, according to the Commission’s Spring 2020 economic forecast, the EU is expected to suffer the deepest recession in its history in 2020; with a contraction in EU GDP of 7½%, far deeper than during the financial crisis in 2009, a surge of the aggregate budget deficit from 0.6% of GDP in 2019 to 8½% of GDP in 2020 in both the euro area and the EU, a new peak of the euro area’s aggregate debt-to- GDP ratio of close to 103% reversing the declining trend since 2014, unemployment in the euro area is expected to increase from 7.5% in 2019 to 9½% and HICP inflation in the euro area of 0.2% in 2020; 1a _________________ 1aEuropean Economic Forecast Spring 2020 https://ec.europa.eu/info/sites/info/files/ec onomy-finance/ip125_en.pdf
Amendment 62 #
2020/2078(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Is concerned at the negative impact of the COVID-19 crisis on the global economy, trade, income inequalities and poverty; , with a projected contraction of the global GDP (excluding the EU) by about 3% this year, which is a sharper downturn than during the Global Financial Crisis in 2008-2009, a fall of world import volumes by more than 10% and a fall of euro area exports by about 13% in 2020; Is alarmed about the increase in poverty since many emerging and low-income countries have limited capacity to deal with a health crisis of this magnitude as well as limited policy space to absorb the macroeconomic impact, in particularly in face of subdued prospects for commodity prices and tightened financial conditions; 1b _________________ 1b European Economic Forecast Spring 2020 https://ec.europa.eu/info/sites/info/files/ec onomy-finance/ip125_en.pdf
Amendment 71 #
2020/2078(INI)
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 27 in 2020 and 2021 will amount to €1,5trn in addition to the baseline assumed in the spring forecast, and for delivering the green transition and digital transformation to at least €595bn per year8; including additional investment needs of €20bn per year to make the strategic investments for EU autonomy to strengthen the resilience of industries and the EU’s strategic autonomy for most- needed goods and services (medical products and pharmaceuticals, strategic digital infrastructure, key enabling technologies, critical raw materials, defence and space); _________________ 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
Amendment 78 #
2020/2078(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
Amendment 90 #
2020/2078(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Welcomes the swift and strong response to the crisis in the area of monetary and fiscal policy, at both EU and Member State level, with the ECB’s Pandemic Emergency Purchase Programme (PEPP), the activation of the European Stability Mechanism (ESM) and the launch of the EIB’s pan- European Guarantee Fund ensuring liquidity and stabilization of financial markets, the activation of the ‘general escape clause' by the European Commission, allowing the maximum flexibility to the fiscal framework and the adopted temporary state aid rules to allow national governments to financially support healthcare systems and businesses and the imminent European Support Scheme Mitigating Unemployment Risks in Emergency (SURE) to keep people in employment during the crisis;
Amendment 103 #
2020/2078(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the swift and strong response to the crisis in the area of monetary and fiscal policy, at both EU and Member State level, as well as the European Recovery Plan; cConsiders 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 and that puts the well-being of citizens and sustainability in the center of our action; Moreover, the recovery fund should provide additional support to the Sustainable Europe Investment Plan (SEIP) to boost the EU’s economies towards a sustainable and inclusive economy that would enable the essential transition to a climate-neutral economy; demands that funds and resources be directed to projects and beneficiaries that comply with our Treaty-based fundamental values, including the rule of law, 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;
Amendment 113 #
2020/2078(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Underlines the need for the recovery plan to protect workers, employees, the self-employed and SMEs and ensure their income compensation; The recovery must be based on upward social economic convergence, social dialogue and improved social rights and working conditions with targeted measures for those in precarious forms of work; Calls on the EU institutions and the Member States to ensure that public financial support to corporations is provided under the condition to guarantee the jobs and the income of their employees, to commit to sustainability objectives upon adherence to international standards of responsible business;
Amendment 127 #
2020/2078(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes 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 to recover from the pandemic crisiswhilst Member States provide growth-enhancing expenditure support to recover from the pandemic crisis, provide stabilisation in the short-run and strengthen their economic and social resilience;
Amendment 173 #
2020/2078(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Considers it essential that theo have clearer guidance on how the escape clause should be repealed and that a 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 more realistic reference values 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, and the long-term modernisation of public commodities;
Amendment 213 #
2020/2078(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Welcomes 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, as they offer an integrated framework encompassing public health, social, environmental and economic concerns; is convinced that this has to include the coordination of measures concerning state aid and tax policies;
Amendment 232 #
2020/2078(INI)
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Welcomes the European Green Deal as our new growth strategy bringing together four dimensions: environment, productivity, stability and fairness, and where competitive sustainability is at the heart of Europe’s social market economy, enabled by digital and green technologies, an innovative industrial base and strategic autonomy, to make Europe a transformational frontrunner;
Amendment 234 #
2020/2078(INI)
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13b. Calls for the improvement of the social scoreboard, considering the UN Agenda 2030, to address and examine the actual social needs of the crisis and addresses lasting consequences with the aim to facilitate quality employment, quality health and social care services, education and training and social protection systems; Furthermore, calls for the completion of the imbalance procedure to monitor and identify social imbalances and to integrate a social imbalance procedure, that would lead to Country Specific Recommendations and the definition of Medium-Term Social Objectives in order to correct such imbalances;
Amendment 246 #
2020/2078(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Calls for an institutionalised economic and social dialogue with social partners and relevant stakeholders to strengthen democratic accountability, transparency and the scrutiny role of civil society;
Amendment 254 #
2020/2078(INI)
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; urges in this context, Members States to agree on including the auction revenues of the Emission Trading Scheme, a contribution on non-recycled plastic packaging and a 3% rate to the share of taxable profits of each Member State, based on the Common Consolidate Corporate Tax Base; calls for the additional inclusion of revenues emanating from the future Carbon Border Adjustment Mechanism, from a single market levy on very large multinationals, which benefit the most from the possibilities offered by the Single Market, from a fairer taxation of digital companies that are being less affected by lockdown measures as well as revenues generated by a Financial Transaction Tax;
Amendment 270 #
2020/2078(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Recalls the urgent need to complete and reinforce the EMU architecture with a view to protecting citizens and reducing pressure on public finances during external shocks so as to overcome social and economic imbalances, by creating, inter alia, a fiscal capacity for public investment, a macroeconomic stabilisation and cohesion function for the euro area, the completion of the Banking Union and a European unemployment benefit reinsurance scheme; Insists on the principle of the community method to enhance the democratic and social dimension of the EMU;
Amendment 10 #
2020/2077(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Stresses that trade policy is an essential tool for implementing the circular economy andadvancing the transition to the circular economy globally and supporting the EU’s sustainability agenda globally; underlines that increased re-using, repairing, remanufacturing and recycling can reduce the EU’s reliance on imports of raw materials, and points to the need to decouple economic growth from resource use in order to ensure the long- term sustainability and resilience of global value chains;
Amendment 18 #
2020/2077(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Regrets the lack of international and European standards on waste quality as this hinders a viable trade policy that is conducive to the circular economy; calls on the Commission to present harmonised standards on waste quality and a legal definition of recyclable waste, and to include these in future FTAsdefinitions and standards and European standards and labelling on circular economy. The lack of these is particularly problematic when it comes to waste quality and secondary raw materials, recycled, remanufactured and repaired goods as this hinders a viable trade policy that is conducive to the circular economy; calls on the Commission to present harmonised standards and legal definitions on waste quality, recycled material, recyclability and reparability, and to include these in future FTAs; Stresses the need for eco-design and labelling to be brought to a global level to enhance the global circular economy and create level playing field;
Amendment 32 #
2020/2077(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Notes that in the transition to a circular economy particular attention must be given to key supply chains where the EU’s environmental footprint is significant and where the EU’s dependence on unreliable sources of raw materials is particularly high;
Amendment 46 #
2020/2077(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Calls on the Commission to identify and abolish barriers that prevent or restrict market access for circular products and services from outside the EU and to investigate the possibilities and benefits of reducing tariffs and non-tariff barriers on certain products and services in order to encourage the development of the circular economy;
Amendment 56 #
2020/2077(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Urges the Commission to ensure that FTAs reflect the objectives of the circular economy by including strong, binding and enforceable sustainable development chapters; suggests that the circular economy should be addressed in a cross-cutting manner in all relevant FTA chapters; stresses the opportunity to use the cooperative mechanisms of TSD chapters to work together with third countries on promoting the circular economy;
Amendment 66 #
2020/2077(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Encourages the Commission to engage with the EU’s trading partners to further support the objectives of the circular economy; stresses that particular attention must be given to how less developed partner countries can participate in and benefit from the circular economy; calls for an assessment of the impact of increased intra-EU recycling rates on countries strongly relying on waste imports; calls on the commission to use Aid for Trade and GSP+ to help developing countries adopt circular economy practices, including product standards.
Amendment 70 #
2020/2077(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Highlights that when waste streams are exported from the EU in a socially just, clean and manageable way, opportunities can be created for third countries and economic efficiency gains can arise when manufacturing hubs are in close proximity to recycling plants, leading to recycling “champions” with top notch sorting and processing infrastructure, boosting global recycling volumes and quality;
Amendment 74 #
2020/2077(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Stresses that, as long as the quality of EU’s waste exports cannot be guaranteed and there is uncertainty whether the exported waste is recycled in third countries respecting high social, health and environmental standards, improving waste recycling within EU borders should remain a priority;
Amendment 76 #
2020/2077(INI)
Draft opinion
Paragraph 6 c (new)
Paragraph 6 c (new)
6 c. Calls on the Commission to implement the Circular Economy Action Plan and the Action Plan on Critical Raw Materials in a coordinated and mutually reinforcing manner; stresses that improving Europe’s recycling rates for the metals and minerals required in green and digital technologies will give Europe a sustainable domestic supply source, helping to improve its resilience versus more polluting imports from unreliable third countries;
Amendment 77 #
2020/2077(INI)
Draft opinion
Paragraph 6 d (new)
Paragraph 6 d (new)
6 d. Emphasizes that circular economy and sustainable production require transparent and traceable value chains. In order to improve circularity of all the materials and to keep track of chemicals and hazardous elements, it is essential to foster the availability of data related to product's content, materials, carbon footprint and recyclability. Special efforts should be made to integrate and develop work on the digital product passports that would collect structured and standardised data from all phases of the product and enable better circularity, promote extended producer responsibility (EPR) as well as sustainable consumer choices.
Amendment 78 #
2020/2077(INI)
Draft opinion
Paragraph 6 e (new)
Paragraph 6 e (new)
6 e. Emphasizes the risk of environmental dumping when secondary raw materials or second-hand goods are traded because of higher environmental standards in Europe than in a third country, which would undermine global climate and environmental actions and hinder sustainable transition in third countries.
Amendment 79 #
2020/2077(INI)
Draft opinion
Paragraph 6 f (new)
Paragraph 6 f (new)
6 f. Stresses that a distinction should be made between waste for material recovery and waste intended for energy production as to safeguard valuable materials and avoid dumping; highlights that the Basel Convention ban on plastic waste exports from OECD to non-OECD countries, with the exception of material that is “non-hazardous, clean, unmixed and uncontaminated" and purposed for recycling, not for energy-recovery, is very relevant in this regard and that this international legislation could speed up international negotiations on waste standards and definitions;
Amendment 24 #
2020/2075(INI)
A. whereas over the past 30 years the economic governance framework has undergone a number of changes to resolve its design and implementation flaws and adapt it to new economic challenges;
Amendment 25 #
2020/2075(INI)
Motion for a resolution
Recital B (new)
Recital B (new)
B. whereas in the aftermath of the Global Financial Crisis, the successive reforms of the EMU focused on risk reduction but failed to introduce risk- sharing elements;
Amendment 26 #
2020/2075(INI)
Motion for a resolution
Recital C (new)
Recital C (new)
C. whereas in 2015 the European Commission (EC) adopted guidance on the best use of the flexibility in the rules of the SGP strengthening the link between structural reforms, investment and fiscal responsibility;
Amendment 27 #
2020/2075(INI)
Motion for a resolution
Recital D (new)
Recital D (new)
D. whereas the current governance framework presents conceptual and practical weaknesses that lead to rules overly complex, weak enforcement, lack of ownership and of incentives to pursue symmetrical counter-cyclical policies and it did not succeed to reduce divergences between in the EU nor to protect or stimulate growth enhancing public investment;
Amendment 28 #
2020/2075(INI)
Motion for a resolution
Recital E (new)
Recital E (new)
E. whereas gross public investment was severely cut following the financial and sovereign debt crisis, and in many Member States net public investment is even negative implying that the current fiscal framework leads to too recessive consolidation measures and facilitates the decline of public investment during the periods of fiscal consolidation;
Amendment 29 #
2020/2075(INI)
Motion for a resolution
Recital F (new)
Recital F (new)
F. whereas there are significant investment funding gaps that should be addressed: €470 billion a year until 2030 to meet EU environmental objectives 20a; €142billion a year for social infrastructure such as hospitals or schools 21a ; along with €190 billion a year to stabilise the stock of public capital 22a; _________________ 20aEuropean Commission, “SWD(2020) 98 final - Identifying Europe’s recovery needs”, 27.5.2020, p.14-16. 21aThis estimation only cover health and long-term care (EUR 70 billion), education and life-long learnings (EUR 15 billion) and affordable housing (EUR 57 billion). Source: FRANSEN, L., BUFALO, G., REVIGLIO, E., “Boosting Investment in Social Infrastructure in Europe - Report of the High-Level Task Force on Financing Social Infrastructure in Europe”, 2018, 116p. 22aEuropean Commission, “SWD(2020) 98 final - Identifying Europe’s recovery needs”, 27.5.2020, p. 18-20
Amendment 30 #
2020/2075(INI)
G. whereas in 2020, the European Commission started a public consultation on the review of effectiveness of economic governance framework which was disrupted by the onset of the COVID-19 pandemic;
Amendment 31 #
2020/2075(INI)
Motion for a resolution
Recital H (new)
Recital H (new)
H. whereas the pandemic is causing an unprecedented exogenous shock with large asymmetric impacts, weighting negatively on the EU economic outlook and enlarging divergences between Member States;
Amendment 32 #
2020/2075(INI)
Motion for a resolution
Recital I (new)
Recital I (new)
I. whereas the pandemic has amplified pre-existing inequalities and poverty and has demonstrated the importance of European social model and its existing social safety nets;
Amendment 33 #
2020/2075(INI)
Motion for a resolution
Recital J (new)
Recital J (new)
J. whereas, in Europe, economic forecasts 23a 24a show a multispeed, incomplete and uneven recovery; whereas the vaccine rollout is accelerating but remain slow, and there are considerable risks of divergences and aggravated inequalities across countries and sectors as well as prospects for scarring; _________________ 23aEuropean Commission Winter 2021 Economic Forecasts show a contraction in 2020 of - 6,3 % of GDP in the EU and with - 6,8 % of GDP in the euro area and GDP growth is expected to recover only slowly in the short-term with 3.7% in 2021 and 3.9% in 2022 in the EU, and3.8% in both years in the euro area. 24aWorld Economic Outlook: Managing Divergent Recoveries, IMF (April 2021)
Amendment 34 #
2020/2075(INI)
Motion for a resolution
Recital K (new)
Recital K (new)
K. whereas the discretionary fiscal support differed in size and composition across Member States with a clear positive correlation between fiscal space and the size of policy response leading to an asymmetric response, creating risks of an unequal level playing field in the internal market and further differentiate the speed of recovery;
Amendment 35 #
2020/2075(INI)
Motion for a resolution
Recital L (new)
Recital L (new)
L. whereas public debt levels at the beginning of the pandemic were high, the unprecedented economic recession, the unprecedented national fiscal measures taken in response to the pandemic and the need to support a sustainable and inclusive recovery will impact public finances pushing EU debt-to-GDP to a new peak above 100% of GDP;
Amendment 36 #
2020/2075(INI)
Motion for a resolution
Recital M (new)
Recital M (new)
M. whereas environmental 25a and social sustainability are interconnected with long-term fiscal sustainability; _________________ 25aExtreme disaster tend to lower economic output (Botzen, Deschenes and Sanders, 2019); IMF forecasts that major weather-related disasters could have a negative impact in real GDP per capita and countries that are better equipped to address major natural disasters could more easily cushion the impact.
Amendment 37 #
2020/2075(INI)
Motion for a resolution
Recital N (new)
Recital N (new)
N. whereas the crisis response of the EU 26a has strengthened the EMU and, so far, succeeded to create trust and confidence, tame financial markets volatility; underlines for this effect the importance of the issuance of EU bonds; _________________ 26a Through in particular the Recovery Package and the SURE instrument.
Amendment 98 #
2020/2075(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Supports policies that are tailored to the stage of the pandemic, the path to the economic recovery and to countries´ individual circumstances;
Amendment 99 #
2020/2075(INI)
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Stresses the importance to continue to fight the pandemic, to limit the long-term impact of the crisis and to secure the recovery by prioritising health spending together with fiscal support to affected households and firms; considers that, at this stage, too little support would lead to a weak recovery with risks of permanent damages to the society and the economy;
Amendment 103 #
2020/2075(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls on the Member States to embed the high-quality fiscal support in credible medium-term frameworks, to ensure where expansionary fiscal measures are needed, these are supported by growth and inclusive measures bearing in mind that emergency measures are temporary, limited and targeted; calls on the Member States to monitor fiscal risks, namely contingent liabilities, as appropriate for instance guarantee programmes, as appropriate; notes that such good public financial management practices would improve transparency and accountability;
Amendment 108 #
2020/2075(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Points out that for as long as differences in the pace of recovery are economically significant, fiscal policy should limit the scarring and reduce inequalities by supporting those segments of the economy and society that are at a higher risk of divergence; notes that income inequalities are likely to increase notably within young workers, women and low-skilled workers;
Amendment 111 #
2020/2075(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Welcomes the policy response of governments aimed at avoiding a sharp increase in corporate insolvencies and unemployment; warns that an abrupt and uncoordinated withdrawal of support measures could lead to financial distress and recommends that more general support is replaced gradually by more targeted schemes including solvency measures; further recommends fiscal measures to facilitate job creation and reallocation namely through retraining and reskilling programmes, together with income support as needed;
Amendment 120 #
2020/2075(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Reiterates the IMF call to consider a temporary COVID-19 recovery contribution levied on high incomes or wealth as well as the need to implement domestic and international tax reforms;
Amendment 121 #
2020/2075(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Recalls the importance of the swift, responsible and efficient implementation of the Recovery and Resilience Facility to address the EU´s long term challenges by focusing on building a resilient, inclusive and greener economy, by supporting the recovery and by boosting productivity and investment;
Amendment 122 #
2020/2075(INI)
Motion for a resolution
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Highlights that monetary policy has been carrying the main burden of stabilisation in the past years and crisis; notes that the crisis caused by the pandemic showed that monetary policy is not enough for stabilisation purposes and fiscal policy should play an increasing role;
Amendment 138 #
2020/2075(INI)
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, the former by preserving favourable financing conditions and the latter by supporting firms, workers and people; considers that the low interest rate environment has implications for fiscal policy; warns against a premature tightening of monetary and fiscal policy;
Amendment 148 #
2020/2075(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Underlines that structural factors are likely to keep rates low in the long term; considers that macroeconomic policies should address the factors underlying secular stagnationsuch as ageing, global savings, low inflation and productivity slowdown are likely to keep rates low in the long term and the impact of Covid-19 shocks is likely to accelerate this tendency as precautionary savings are rising further and investment decisions might be delayed; considers that macroeconomic policies should address the factors underlying secular stagnation through high-quality fiscal expansion with durable repercussions on the private-sector savings-investment balance complemented with growth-enhancing reforms;
Amendment 154 #
2020/2075(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls for an appropriate fiscal and monetary policy mix that works together towards achieving the EU’s objectives; considers a credible fiscal framework a necessary requirement for a strong and mutually supporting coordination of fiscal and monetary policies, to avoid that pro- cyclical policies will counteract the stimulus of the recovery programme and in order to ensure improved and transparent governance;
Amendment 180 #
2020/2075(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that debt service costs are expected to remain low for the foreseeable future thanks to a large share of debt burden covered by long maturities and sometimes negative yielding bonds, and primary deficits are likely to be offset by favourable interest-growth differentials; further considers that as long as the differentials are negative it is possiblewill ensure the ability to sustain and progressively reduce high debt levels;
Amendment 200 #
2020/2075(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recalls the importance of growth- enhancing policies and public investment aimed at increasing sustainable growth potential and achieving the EU’s objectives; reiterates that future-oriented investment and expenditure has positive spill overs in the medium-to-long-term debt sustainability;
Amendment 207 #
2020/2075(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Stresses the importance of pursuing a broad and transparent DSA in orderebt Sustainability Analysis (DSA) in order to support policymakers´ decision 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; (such as interest-growth differentials, debt composition, demographics and climate change) and the quality of public expenditure;
Amendment 239 #
2020/2075(INI)
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 throughby applying, if appropriate, the "do no significant harm" (DNSH) principle and by favouring sustainable investments and reforms; calls for well-defined, transparent, simple, flexible and enforceable rules embedded in a credible and democratic framework that take into account the specificities of Member States and promote upward economic and social convergence;
Amendment 240 #
2020/2075(INI)
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 takes into account the specificities of Member States, including the different economic structures and geographical constraints, and promote upward economic and social convergence;
Amendment 272 #
2020/2075(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that the country-specific path would not be subject to applying any strict formula and the outcome should result from a discussion between each Member State and the Commission, after a consultation with the EFB in the context of the European Semester; considers that the expenditure rule should also include a correction mechanism to remove cyclical items as interest payments and cyclical unemployment benefits;
Amendment 279 #
2020/2075(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Underlines that expenditure rules allow for automatic stabilisers to operate and are under the direct control of the government; argues that while potential output growth is unobservable and has to be estimated, it is less likely to be subject to revisions than the output gap; notes that expenditure rules show to be more effective in reducing the procyclicality bias of fiscal policy 28a; _________________ 28aManescu, C., Bova, E. (2021), Effectiveness of national expenditure rules: Evidence from EU member states.
Amendment 286 #
2020/2075(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Proposes, in line with the EFB, ‘ onethe adoption of a general escape clause, triggered based on independent economic judgement’ proposed by the Commission supported by an opinion based on independent economic judgement in order to reduce complexity and to preserve the ability to act in case of unforeseeable circumstances;
Amendment 301 #
2020/2075(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Shares the EFB’s opinion that sustainable growth-enhancing public investments should be exempt from the expenditure rule, in particular those investments that are aligned with the EU’s long-term objectives of the NGEU; calls for a revamped fiscal framework that promotes the increase and stabilisation of growth-enhancing public investment related namely to social resilience, climate change and digitalisation;
Amendment 307 #
2020/2075(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Reminds that meeting the objectives of the European Green Deal will require targeted and sustained fiscal effort over several decades; recalls that failing to meet these objectives would heighten significant sustainability-related fiscal risks;
Amendment 308 #
2020/2075(INI)
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
22b. Stresses the importance that public investment costs are distributed over the entire service-life, similarly to the way corporate investment is treated in corporate accounting;
Amendment 321 #
2020/2075(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Underlines that a renewed EU fiscal framework should provide fiscal space and internalize the effects of national discretionary fiscal policies while safeguarding sound public finances; stresses that coordination of the fiscal stance is of particular importance for the euro area and calls for the appropriate fiscal tools to properly coordinate national fiscal policies mitigating possible imbalances;
Amendment 352 #
2020/2075(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Stresses the importance of the MIP in identifying and taking preventive and corrective actions against emerging imbalances; points out, however, that the potential of this mechanism has not been fully exploited on account of its structural weaknesses notably the asymmetry of the indicators in the Alert Mechanism, indicators lacking a clear prioritization and the lack of clear accountability;
Amendment 369 #
2020/2075(INI)
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 and driving the economic cycle of the eurozone from a consolidated point of view; considers that greater compliance with pared-back recommendations must be achieved and MIP-relevant country-specific recommendations should focus on policy actions that can have a direct impact on imbalances;
Amendment 377 #
2020/2075(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Considers that clarity and consistency concerning the interplay between the MIP and the Stability and Growth Pact is key to ensuring that their objectives are achieved; the recommendations to Member States within the MIP framework could be contradictory in some cases with the fiscal policy guidelines based on the application of the Stability and Growth Pact; therefore, it is necessary to improve clarity and consistency concerning the interplay between the MIP and the Stability and Growth Pact and to provide the EU with additional instruments to guarantee a correct aggregate fiscal stance according to the cyclical needs of the eurozone economy as a whole;
Amendment 394 #
2020/2075(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Calls for a renewed European Semester as the main economic and social policy coordination framework supporting the EU’s long-standing goals of sustainability and upward convergence with stronger national ownership; calls for a more balanced institutional role of the European Parliament in the European Semester to ensure a more rigorous democratic scrutiny ; demands for the European Parliament’s full involvement in defining the overarching goals and the guidance;, in particular the ones related to the euro area; stresses the importance of a stronger balance in policy coordination between employment and social affairs ministers and finance ministers namely in the euro area.
Amendment 408 #
2020/2075(INI)
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30a. Underlines the importance to clarify the link between each specific governance tool and the objectives to be achieved; calls for better reflecting the existing scoreboards in policy recommendations;
Amendment 409 #
2020/2075(INI)
Motion for a resolution
Paragraph 30 b (new)
Paragraph 30 b (new)
30b. Points towards the lack of ownership as one the main weaknesses of the European Semester; notes that the design of this framework must respect a set of long-term objectives and guidance at EU level, reflected in national plans, policy recommendations on a variety of policy objectives which should allow for policy choices properly reflecting national needs and priorities underpinned by an open and inclusive policy dialogue between the EU and national institutions and stakeholders;
Amendment 418 #
2020/2075(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Calls for more involvement of national macro prudential authorities and national productivity councils in the MIP process;
Amendment 419 #
2020/2075(INI)
Motion for a resolution
Paragraph 32 a (new)
Paragraph 32 a (new)
32a. Underlines the importance of ensuring a proper balance of responsibilities between the different institutions in the implementation of the EU fiscal framework; calls for a higher involvement of the European Parliament when discussing medium to long-term budgetary guidelines; in order to ensure greater transparency and accountability, it should be enhanced the involvement of the national parliaments;
Amendment 420 #
2020/2075(INI)
Motion for a resolution
Paragraph 32 b (new)
Paragraph 32 b (new)
32b. Welcomes the significant improvements of the role of Independent Financial Institutions (IFIs) in the budgetary process for enhancing transparency and accountability of fiscal policy through both monitoring and independent analysis; notes that IFIs should incorporate in their work the medium to long-term challenges to the fiscal frameworks; underlines the importance to ensure accountability of these institutions towards the European and national parliaments, as appropriate;
Amendment 435 #
2020/2075(INI)
Motion for a resolution
Paragraph 34 a (new)
Paragraph 34 a (new)
34a. Calls on the Commission to further reflect on the design and implementation of Macroeconomic Adjustment Programmes; is firmly convinced that the way macroeconomic adjustment programmes were implemented had serious consequences on the social fabric of the countries, led to permanent losses of output, raised serious doubt of external political interference and presented a lack of national ownership;
Amendment 436 #
2020/2075(INI)
Motion for a resolution
Paragraph 34 b (new)
Paragraph 34 b (new)
34b. Calls on the Commission to assess the effectiveness and the added value of post-programme surveillance in those euro area Member States that are no longer subject to a macroeconomic adjustment programme; notes that Member States exiting a macroeconomic adjustment programme are also under enhance surveillance in the European Semester and, where relevant, in-depth reviews can be conducted; considers that this double surveillance does not bring any additional benefits for the process of multilateral surveillance;
Amendment 463 #
2020/2075(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. Recalls that the creation of the ESM outside the institutions of the Union represents a setback in the development of the Union; recalls its call for the ESM to be integrated into EU law under the Community method;
Amendment 20 #
2020/2058(INI)
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas all sectors of the EU economy will be impacted by the transition towards a sustainable economy,
Amendment 26 #
2020/2058(INI)
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the EU climate law will set in stone the EU’s commitment to climate neutrality by 2050, including ambitious intermediary steps necessary to achieve this objective,
Amendment 27 #
2020/2058(INI)
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the Commission has estimated the investment needs at EU level in order to achieve the current 2030 climate objectives at 240 bn EUR/year1a plus additional amounts of 130 bn EUR/year for environmental objectives , 192 bn EUR/year for social infrastructure and 100bnEUR/year for Europe’s wider transport infrastructure, whereas it is essential to mobilize all available funds to close the investment gap, __________________ 1a https://ec.europa.eu/info/sites/info/files/ec onomy- finance/assessment_of_economic_and_in vestment_needs.pdf
Amendment 29 #
2020/2058(INI)
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the European Green Deal is a growth strategy and should lead to sustainable and inclusive economic growth, job creation and ensure the strategic autonomy of the EU,
Amendment 31 #
2020/2058(INI)
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas public and private finance should adhere to the EU Taxonomy and to the Do Not Significantly Harm principle so that EU financial instruments, including the EU budget, including facilities financed through Next Generation EU, the EU Semester, the EU Investment Plan, the EIB, ECB and EU funding sources such as cohesion funds and structural and investment funds, should not go to objects, projects and activities that do significantly harm to social or environmental objectives,
Amendment 32 #
2020/2058(INI)
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas the Covid-19 sanitary crisis underlines the importance of investments in a socially and environmentally sustainable economy, in particular investments promoting cutting edge R&D, competitive industry, deepening and strengthening of the single market, strong SMEs, healthcare, a strong welfare system and social wellbeing,
Amendment 34 #
2020/2058(INI)
Motion for a resolution
Recital -A (new)
Recital -A (new)
-A. whereas creating a sustainable economic system is central to developing long-term strategic autonomy of the European Union and to increase the EU’s resilience,
Amendment 43 #
2020/2058(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Sustainable Europe Investment Plan (SEIP) as central in ensuring the success of the Green Deal and the transition towards a more sustainable and resilient economy; Emphasizes that the SEIP should go hand in hand with other main socio-economic long-term goals and priorities of the EU; Stresses that the SEIP must be built on the lessons learned from the socio-economic crisis related to the Covid-19 crisis in order to facilitate the development of a more inclusive and stronger economy in the years to come;
Amendment 48 #
2020/2058(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Sustainable Europe Investment Plan (SEIP) as central in ensuring the success of the Green Deal and the transition towards a more sustainable and resilient economy; considers that the investment envisaged in the SEIP will deliver necessary economic stimulus, build resilience to future shocks and create jobs;
Amendment 50 #
2020/2058(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Sustainable Europe Investment Plan (SEIP) as central in ensuring the success of the Green Deal and the transition towards a more sustainable and resilient economy; stresses that the plan should be at the heart of a coordinated and inclusive Union response to building a more resilient economy and society after the Covid-19 crisis;
Amendment 65 #
2020/2058(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the Commission’s European Recovery Plan with the European Green Deal at its heart; endorses the underlying principle that public investments will respect the oath to ‘do no harm’; highlights that this oath applies to both social and environmental objectives; emphasises that national recovery and resilience plans should put the EU on the path to a 50 % to 55 % reduction in greenhouse gas emissions by 2030 compared to 1990 and climate neutrality by 2050 while providing sufficient guarantees to ensure social equity in the sustainable transition;
Amendment 68 #
2020/2058(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the Commission’s European Recovery Plan with the European Green Deal at its heart; endorses the underlying principle that public investments will respect the oath to ‘do no harm’; stresses that the recovery shall be built on the Sustainable Development Goals and shall support the twin green and digital transitions; emphasises that national recovery and resilience plans should put the EU on the path to a 50 % to 55 % reduction in greenhouse gas emissions by 2030 compared to 1990 and climate neutrality by 2050;
Amendment 82 #
2020/2058(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the success of the EU’s aim to achieve climate neutrality will depend on the adequacy of the financing; calls on the Commission and Member States to make sure the Green Deal Investment Plan, the Climate Budget and the Climate Bank, are massive enough to make future programs like the Renovation Wave, have sufficient impact on every building of Europe, and are made acceptable and welcome to all the citizens of Europe, because only with sufficient funding will our citizens accept the necessary regulations that will make it compulsory that by 2030 enough houses are renovated, enough farmers have transitioned, enough communities have changed their energy and transport systems;
Amendment 128 #
2020/2058(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Wishes to see it ensured that funding from the SEIP, at EU and national level, goes towards the policies and programmes with the highest potential to contribute to the fight against climate change, and looks forward to the Commission’s upcoming climate tracking methodology using appropriately the criteria established by the EU taxonomy; calls on the Commission to propose a Framework Regulation laying down a new stringent and comprehensive climate and biodiversity tracking methodology using appropriately the criteria established by the EU taxonomy, defining and tracking relevant expenditure together with a comprehensive proofing mechanism to identify potential harmful impacts of EU actions to biodiversity and climate in line with the EU’s commitments under the Paris Agreement and a roadmap for the rapid phasing-out of direct and indirect fossil fuel subsidies and all other harmful subsidies from the EU budget; recalls in this context that 112 bn EUR/year have been spent by 11 countries and the European Union to subsidise fossil fuels between 2014 and 201613a; __________________ 13a http://www.caneurope.org/publications/bl ogs/1471-report-phase-out-2020- monitoring-europe-s-fossil-fuel-subsidies
Amendment 130 #
2020/2058(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Wishes to see it ensured that funding from the SEIP, at EU and national level, goes towards the policies and programmes with the highest potential to contribute to the fight against climate change, and looks forward to the Commission’s upcoming climate tracking methodology using appropriately the criteria established by the EU taxonomy; calls on the Commission to propose, after consultation of Parliament, and using similar criteria a framework laying down a methodology establishing eligibility criteria for climate-related expenditures, defining and tracking climate expenditure together with a proofing mechanism to identify harmful impacts in accordance with the “do not significantly harm” principle and the commitments under the Paris Agreement;
Amendment 140 #
2020/2058(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Wishes to see it ensured that funding from the SEIP, at EU and national level, goes towards the policies and programmes with the highest potential to contribute to the fight against climate change, protect environment and preserve biodiversity, and looks forward to the Commission’s upcoming climate tracking methodology using appropriately the criteria established by the EU taxonomy;
Amendment 145 #
2020/2058(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
Amendment 165 #
2020/2058(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Calls for the phasing-out of public and private investments in fossil fuel based and highly polluting and harmful industries for which economically feasible alternatives are available, while fully respecting the rights of Member States to choose their energy mixunderlining the urgency to find such alternatives through massive investments in technological innovation and energy efficiency, while fully respecting the rights of Member States to choose their energy mix and with the objective of implementing a fully renewable energy system and a Paris Agreement Compatible energy grid by 2040;
Amendment 176 #
2020/2058(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Calls for the phasing-out of public and private investments in highly polluting and harmful industries, using the EU taxonomy criteria, for which economically feasible alternatives are available, while fully respecting the rights of Member States to choose their energy mix;
Amendment 188 #
2020/2058(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses the central role of the EU budget in delivering the SEIP; reiterates its long-standing position that new initiatives should always be financed through additional appropriations and should not negatively affect other policies; welcomes the new European Union Recovery Instrument, "Next Generation EU", as an emergency instrument to support investments and reforms aligned with the Sustainable Development Goals and to reinforce the EU programmes that contribute for a sustainable and resilience recovery of the EU economy;
Amendment 227 #
2020/2058(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Welcomes the proposal to top up the Just Transition Fund (JTF), including with additional funds from Next Generation EU, and the two additional pillars of the Just Transition Mechanism, namely a dedicated scheme under InvestEU and a public sector loan facility, which will contribute to alleviating the economic effects of the transition to climate neutrality on the most vulnerable regions in the EU; supports a strengthened European Agricultural Fund (EAFRD) to help farmers and rural areas to deliver the green transition, ensure a sustainable management of natural resources and preserve biodiversity;
Amendment 240 #
2020/2058(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Underlines that the aim of the JTF should be to provide support to citizens, economic activities and territories facing energy sustainability, energy security and energy affordability challenges in the transition process towards a just and sustainable, climate-neutral, climate- resilient, resource-efficient economy of the Union by 2050; Stresses that in order to minimize the negative socio-economic consequences of the transition, we need to ensure that the investments and actions previously made by Member States to reduce greenhouse emission are duly acknowledged and recognised as part of the path towards a climate-neutral economy; consequently, the JTF should also provide tailored support to regions that are in a more advanced phase of its transition, ensuring energy affordability for its citizens and economic activities, leading the way to a socially fair and just green transition;
Amendment 249 #
2020/2058(INI)
Motion for a resolution
Paragraph 10 c (new)
Paragraph 10 c (new)
Amendment 256 #
2020/2058(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Welcomes the role of InvestEU in the implementation and functioning of the SEIP and considers that it should be at the heart of the Union’s green, fair and resilient recovery; welcomes, therefore, the Commission’s proposal to increase the programme’s size and scope; welcomes the proposal to create a Strategic Investment Facility within InvestEU to promote sustainable investments in key technologies and value chains; calls for the InvestEU programme legal basis to include the highest standards regarding climate and sustainability proofing of the projects financed, at least at the level applicable to direct EU budget financing;
Amendment 258 #
2020/2058(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Welcomes the role of InvestEU in the implementation and functioning of the SEIP and considers that it should be at the heart of the Union’s green, fair and resilient recovery; welcomes, therefore, the Commission’s proposal to increase the programme’s size and scope; stresses the importance to support sustainable infrastructure projects, including the renovation wave for local jobs; welcomes the proposal to create a Strategic Investment Facility within InvestEU to promote sustainable investments in key technologies (such as clean hydrogen and batteries) and value chains;
Amendment 275 #
2020/2058(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Underlines that the success of the European Green Deal and the just transition requires to refocus all relevant EU policies to contribute to achieve those objectives;
Amendment 278 #
2020/2058(INI)
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12b. Stresses that cohesion policy, as the main EU investment policy, will play a crucial role in supporting the transition to climate neutrality; notes, however, cohesion policy will be one of the decisive instruments in the economic recovery and should not divert from its main objectives namely to contribute to social, economic and territorial cohesion, as stipulated by the EU Treaties; insists that this cohesion policy should be reinforced to cope with its main objectives and contributing to the success of the European Green Deal;
Amendment 280 #
2020/2058(INI)
Motion for a resolution
Paragraph 12 c (new)
Paragraph 12 c (new)
12c. Stresses the key role that the Common Agricultural Policy and the common fisheries policy will have to play in achieving the objectives of the SEIP; notes that the EU agricultural and fisheries sectors will have to become sustainable and ensure a sustainable management of natural resources and preservation of biodiversity together with its objectives on supporting the provision of high-quality food supply, guaranteeing food sovereignty for Europeans, contributing to stable and acceptable earnings for farmers and fisherwomen/men and contributing to the sustainable development of rural areas;
Amendment 284 #
2020/2058(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Supports the Commission’s innovative approach in stating that the EU budget will contribute to achieving climate objectives also through its revenue side; recalls Parliament’s longstanding position in favour of generating added-value and policy co-benefits by introducing green new own resources;
Amendment 297 #
2020/2058(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Reaffirms its previous position regarding candidates for new own resources, and calls on the Commission to propose new own resources which correspond to essential EU objectives including the fight against climate change and the protection of the environment; asks, therefore, for the introduction of new own resources based on the auction revenues of the Emissions Trading System, a contribution on non-recycled plastic packaging waste, the future Carbon Border Adjustment Mechanism, a Common Consolidated Corporate Tax Base or a precursor based on operations of large enterprises, a tax on digital companies, and a financial transaction tax; Calls on the Member States not to undermine the abovementioned solutions, especially related to taxation, either from being established or from being allocated as own resources in the EU budget;
Amendment 313 #
2020/2058(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Underlines that both types of revenues, environmental and non- specifically environmental, will be indispensable for the establishment of a reliable basket of new genuine own resources, since the amount of income produced by environmental revenues will proportionally decrease over the time with the adoption of green practices by contributors and will therefore need to be compensated by resources generated by single market revenues; stresses the emergency to agree on the own resources with the highest potential revenues;
Amendment 333 #
2020/2058(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the efforts of the European Investment Bank (EIB) to revise its energy lending policy and to devote 50 % of its operations to climate action and environmental sustainability; calls on the EIB to commit to the sustainable transition towards climate neutrality while taking into account the different energy mixes of Member States and devoting particular attention to the sectors and regions most affected by the transition; calls on the EIB to review and modify its climate action definitions, namely the environmental sustainability financing definitions, in line with the EU taxonomy;
Amendment 361 #
2020/2058(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Recognises the important role of the national promotional banks and institutions and of international financial institutions (IFIs), including the European Bank for Reconstruction and Development and the World Bank, in the financing of sustainable projects, thereby contributing to the achievement of the goals of the Paris Agreement;
Amendment 364 #
2020/2058(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Underlines as well the NPBIs’ advantages in the conception, management and financing of relatively smaller projects, from their experience in this field; welcomes therefore their involvement in different aspects of the Sustainable Europe Investment Plan, as the most adequate bodies to channel European level investments towards to the ground at local scale;
Amendment 371 #
2020/2058(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Recalls the statement of the ECB President that the ECB is supporting the development of a taxonomy as a way of facilitating the incorporation of environmental considerations in central bank portfolios; calls on the ECB to evaluate the feasibility of including sustainability criteria in its collateral framework and its annual stress testing exercise, while assessing ways to guide lending towards energy transition investments and to rebuild a sustainable economy in the aftermath of the COVID- 19 crisis; encourages the ECB to move forward with its monetary policy review in order to evaluate the financing of economic activities causing significant harm to environmental and social objectives; calls on the ECB to disclose annually its degree of alignment with the Paris Agreement and its exposure to the EU taxonomy;
Amendment 374 #
2020/2058(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Recalls the statement of the ECB President that the ECB is supporting the development of a taxonomy as a way of facilitating the incorporation of environmental considerations in central bank portfolios; emphasizes that environmental and climate disasters more and more poses financial stability risks and, therefore, prudential regulation and supervision shall better incorporate those long-term risks in their assessments; calls on the ECB to evaluate the feasibility of including sustainability criteria in its collateral framework and its annual stress testing exercise, while assessing ways to guide lending towards energy transition investments and to rebuild a sustainable economy in the aftermath of the COVID- 19 crisis;
Amendment 388 #
2020/2058(INI)
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
Amendment 393 #
2020/2058(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Supports a renewed sustainable finance strategy; underlines the need for an EU eco-label for financial products, for an EU Green Bond Standard (EU GBS), and for more reliable, comparable and accessible sustainability data obtained by harmonising sustainability indicators and creating a public sustainability data register; recalls the genuine importance of green finance to the international role of the euro in the next decade.
Amendment 451 #
2020/2058(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Calls for the introduction of an enabling framework for public sustainable investments to achieve the goals set out in the European Green Deal, but stresses that whatever financing model is chosen must not undermine the sustainability of public finance in the EU; believes that the review of the EU's Economic governance framework should look at ways of incentivising Member States to undertake reforms and investments to tackle environmental challenges while preserving debt sustainability; calls on Member States to be more active in applying principles of green budgeting as a way to deliver on the objectives of the European Green Deal while improving the quality of public finances; supports the commitment by EVP Dombrovskis to explore how taxonomy can be used in the public sector; calls for public support for airlines to be used in a sustainable and efficient manner;
Amendment 483 #
2020/2058(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Recalls that the European Semester is a framework for EU Member States to coordinate their budgetary and economic policies; believes that it could facilitate the implementation of the European Green Deal, the European Pillar of Social Rightsrecalls that this process should be improved to incentive sustainable and inclusive public investments of the Member States and their local authorities, promote the necessary economic and social measures to accompany the transition, contribute to the implementation of the European Green Deal, the European Pillar of Social Rights, the commitments made by the EU and of its Members States undertaken under the Paris Agreement and the UN Sustainable Development Goals (SDGs); believes that the SDGs should be at the heart of EU’s policy making process;
Amendment 487 #
2020/2058(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Recalls that the European Semester is a framework for EU Member States to coordinate their budgetary and economic policies; believes that it couldmust facilitate the implementation of the European Green Deal, the European Pillar of Social Rights and the UN Sustainable Development Goals (SDGs), while putting a strict emphasis on economic and social sustainability as well as mutual and sincere cooperation amongst Member States; believes that the SDGs should be at the heart of EU’s policy making process;
Amendment 499 #
2020/2058(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Notes that recovery and resilience plans will be based on shared EU priorities; calls for green recovery investments under the Recovery and Resilience Facility in order to accelerate the structural transformation of the economy towards a more clean, resilient and carbon-neutral economy; highlights in this context the European Green Deal and the European Pillar of Social Rights; seeks the inclusion of priorities in areas such as employment, skills, education, digital, research and innovation and health, but also in areas related to the business environment, including public administration and the financial sector;
Amendment 510 #
2020/2058(INI)
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Calls for companies benefitting from public support to commit to public country-by-country reporting, to respect their non-financial reporting obligations and to guarantee jobs, and disclose any beneficial treatment received; urges that such companies should fairly contribute to the recovery efforts by paying their fair share of taxes; seeks in this context a new social contract for corporates, harmonizing aims for profit with considerations for people and planet;
Amendment 511 #
2020/2058(INI)
Motion for a resolution
Paragraph 24 b (new)
Paragraph 24 b (new)
Amendment 520 #
2020/2058(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Supports the Solvency Support Instrument to level the playing field in the single market, and the introduction of ‘green transition plans’ for certain companies to increase the sustainability of their activities; considers that society can ask for a quid pro quo when providing support to companies; believes that green transition plans should be obligatory for companies seeking state aid or EU-level support unless it is clear that they do not engage in environmentally or socially harmful activities; urges the Commission to only approve green transition plans that set businesses on the path to the climate- neutral and circular economy without significantly harming any other environmental or social objectives;
Amendment 524 #
2020/2058(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Underlines the role of National Promotional Banks in creating a sustainable economy; calls for state aid reforms to enable NPBs to provide preferential loans below market rates to promote sustainability; underlines the importance of ensuring local technical support for project promoters and innovation and the role of project nurseries helping projects to mature to receive financing;
Amendment 540 #
2020/2058(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Invites the Commission to revise the Energy Tax Directive and coordinate a kerosene tax that could also feed into the EU budget;
Amendment 551 #
2020/2058(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Wishes it to be ensured that all contribute equitably to the post-corona recovery and the transition to a sustainable economy; seeks an intensified fight against tax fraud, tax evasion and tax avoidance and aggressive tax planning; calls on the Commission to create a blacklist of EU Member States facilitating tax avoidance; calls for EU-level coordination to avoid aggressive tax planning by individuals and corporates; seeks in this context an ambitious strategy for business taxation for the 21st century; reminds the Commission about the existence of Article 116 of the TFEU in the context of tax-related dossiers and encourages the Commission to make use of it in case the issue addressed creates distortions to the conditions of competition within the single market;
Amendment 568 #
2020/2058(INI)
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27a. Is of the opinion that companies registered on the territories put on EU list of non-cooperative jurisdictions for tax purposes should not be granted public financial support unless they prove a legitimate economic activity there;
Amendment 6 #
2020/2051(INL)
Motion for a resolution
Recital C
Recital C
C. whereas on 2 May 2018, the Commission presented a set of legislative proposals on the 2021-2027 MFF and Union Own Resources, followed by legislative proposals for the setting-up of new Union programmes and instruments; whereas this proposal entailed an overall MFF ceiling of EUR 1 134.6 billion in 2018 prices, or 1,11 % of the pre-crisis EU-27’s GNI1a (including 0,03 % from the European Development Fund), which was already lower than the estimated 1,16 % of the 2014-2020 MFF in relation to the EU- 27’s GNI (EUR 1 082.3 billion in 2018 prices), with the stated objective to provide a basis for a swift negotiation to be concluded before the Parliament elections of 2019; _________________ 1aGross National Income as forecast at the time of presentation of the MFF proposal on 2 May 2018, not taking into account subsequent and upcoming evolutions notably as a result of the Corona emergency.
Amendment 9 #
2020/2051(INL)
Motion for a resolution
Recital D
Recital D
D. whereas Parliament adopted on 14 November 2018 its interim report with detailed figures, amounting to an overall MFF ceiling of EUR 1 324.1 billion in 2018 prices (1,30 % of the EU-27’s GNI), and amendments constituting its negotiating mandate and has stood ready, since then, to enter into negotiations with the Council;
Amendment 21 #
2020/2051(INL)
Motion for a resolution
Recital K
Recital K
K. whereas the Covid-19 outbreak has overshadowed the MFF-related debate and will, despite highlighting the importance and the potential of a strong EU budget, has further delayed the European Council in reaching its conclusions’s debate and agreement on the next MFF and is affecting the conditions in which interinstitutional negotiations could be carried out;
Amendment 26 #
2020/2051(INL)
Motion for a resolution
Recital M
Recital M
M. whereas the basic acts of a considerable number of the current expenditure programmes however contain expiry dates that, together with lack of operational preparedness, might undermine the safety net provided by the TFEU; whereas those expiry dates would have to be extended or lifted in order to be brought into consistency with the principles underpinning Article 312(4) TFEU and to avoid a shutdown of the concerned programmes, which would be to the detriment of its beneficiaries and of the Union as a whole, especially in times of crisis;
Amendment 29 #
2020/2051(INL)
Motion for a resolution
Recital O a (new)
Recital O a (new)
O a. whereas the Covid-19 makes it even more compelling to eliminate any risk of discontinuity or disorderly extension of the current MFF and programmes; whereas it becomes increasingly important to guarantee that the Union will be enabled to carry out its operations and to provide an ambitious crisis response and recovery strategy despite the uncertain date of the entry into force of a new MFF; whereas the Commission should deliver to stakeholders an unequivocal message in that respect;
Amendment 31 #
2020/2051(INL)
Motion for a resolution
Recital O b (new)
Recital O b (new)
Amendment 38 #
2020/2051(INL)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Requests the MFF contingency plan to: – lift or extend the time limits laid down in the basic acts of all relevant MFF expenditure programmes; – where legally necessary notably under shared management programmes, update the relevant financial amounts on the basis of a technical prolongation of the 2020 levels; – revise the rules and objectives governing the relevant expenditure programmes so that they can be temporarily refocused on addressing the immediate economic and social consequences of the Covid-19 outbreak and on helping in the economic recovery; – allow for targeted reinforcements to this end; – allow for the setting-up of the most urgent new instruments and initiatives;
Amendment 42 #
2020/2051(INL)
Motion for a resolution
Annex I – part A – point 1
Annex I – part A – point 1
1. The MFF contingency plan aims at providing a safety net to protect the beneficiaries of the Union programmes in the event that the 2021-2027 MFF could not be agreed in time to enter into force on 1 January 2021. The MFF contingency plan should ensure a satisfactory degree of predictability and continuity in Union budget implementation; . Furthermore, it should enable the Union to provide a response to the immediate social and economic consequences of the Covid-19 outbreak and to work on the recovery;
Amendment 46 #
2020/2051(INL)
Motion for a resolution
Annex I – part A – point 2
Annex I – part A – point 2
2. The MFF contingency plan shall include one or several legislative proposal(s) to lift or extend the time limits laid down in the basic acts of all concerned expenditure programmes and, where legally necessary notably under shared management programmes, update the relevant financial amounts on the basis of a technical prolongation of the 2020 levels. The legislative proposal(s) should also include a temporary refocusing of the objectives of all the relevant expenditure programmes, so that they can best address the immediate consequences of the Covid- 19 outbreak. For the same purpose, wherever relevant, the proposal(s) should include a re-adjustment of the rules to allow for maximum flexibility in the implementation notably of shared management programmes, including the prolongation of all legislative measures adopted in 2020, in response to the crisis;
Amendment 49 #
2020/2051(INL)
Motion for a resolution
Annex I – part A – point 2 a (new)
Annex I – part A – point 2 a (new)
2 a. The MFF contingency plan should allow for targeted reinforcements of the relevant expenditure programmes in the 2021 budget and for the setting-up of the most urgent new instruments, measures and programmes, especially relating to a recovery plan after the Covid-19 outbreak;
Amendment 58 #
2020/2051(INL)
Motion for a resolution
Annex I – part A – point 4
Annex I – part A – point 4
4. The measures necessary for the implementation of the contingency plan shall be financed through the annual budget, within the limits of the MFF ceilings for 2020 and of the flexibility provisions of the 2014-2020 MFF, as extended in accordance with Article 312(4) TFEU, i.e. on the basis of a technical prolongation of the amounts already agreed by the budgetary authority in 2020, increased by the 2% deflator, and of any of the additional abovementioned initiatives. This technical prolongation should also determine the national envelopes under the shared management programmes.
Amendment 61 #
2020/2051(INL)
Motion for a resolution
Annex I – part B – point 1
Annex I – part B – point 1
1. One or several legislative proposal(s) to: – lift or extend the time limits laid down in the basic acts of all relevant MFF expenditure programmes and, – where legally necessary notably under shared management programmes, update the relevant financial amounts on the basis of a technical prolongation of the 2020 levels, – revise the rules and objectives governing the relevant expenditure programmes so that they can be temporarily refocused on addressing the immediate economic and social consequences of the Covid-19 outbreak and on helping in the economic recovery.
Amendment 13 #
2020/2037(INI)
Motion for a resolution
Recital A
Recital A
A. whereas in its 20 years of existence, the euro has become a symbol of Europe’s economic strength and of its position in the world, becoming a channel of proliferating European values of democracy, free markets and international cooperation;
Amendment 22 #
2020/2037(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas the euro's global potential has not been fully reached, and its benefits are shared unevenly among the Eurozone members;
Amendment 30 #
2020/2037(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas a stronger role of the euro, and its increased use as a reserve currency, would increase the ability of the EU to frame its policy stance vis-a-vis other countries and regions;
Amendment 31 #
2020/2037(INI)
Motion for a resolution
Recital C b (new)
Recital C b (new)
Cb. whereas a greater role for the euro would provide a higher degree of financial autonomy to the euro area, protecting it from the use of other currencies as foreign policy tools by other national administrations;
Amendment 38 #
2020/2037(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas the stability of a currency is also determined by the stability of the institutions behind it, more European integration is necessary to give additional institutional and political stability behind the euro;
Amendment 40 #
2020/2037(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
Eb. whereas in the long run the attractiveness of a given currency is also determined by the vitality of its economy;
Amendment 48 #
2020/2037(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas the Covid-19 crisis has provided renewed focus on the argument of the greater international role of the euro;
Amendment 52 #
2020/2037(INI)
Motion for a resolution
Recital H
Recital H
H. whereas post-pandemic economic recovery requires the fast implementation of the EU recovery plan, which will address structural weaknesses and put in place policies to enhance growth and competitiveness; whereas such policies are paramount both to enhancing the attractiveness of the euro globally and to strengthening Europe’s economic and financial autonomy; whereas the recently- proposed recovery fund is an excellent example of what is needed as a European fiscal response to build confidence among investors; whereas a meaningful fiscal stimulus, in conjunction with a monetary one – including a joint European effort –, will have a positive effect on the international position of the euro; whereas the premature withdrawal of fiscal stimulus and the lack of coordination of fiscal action can undermine the attractiveness of the euro as an international currency;
Amendment 57 #
2020/2037(INI)
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. whereas the bond issuance that goes together with the recovery fund will allow global investors to get exposure to the euro area as a whole also establishing a genuine euro-area yield curve;
Amendment 59 #
2020/2037(INI)
Motion for a resolution
Recital H b (new)
Recital H b (new)
Hb. whereas the ECB’s pandemic emergency purchase programme is a decisive element to maintain price stability and ensure stable sources of funding for the euro area economy;
Amendment 80 #
2020/2037(INI)
Motion for a resolution
Recital K a (new)
Recital K a (new)
Ka. whereas the right mix of fiscal and monetary policy is needed to build a deeper and better more stable EMU, necessary to increase the euro’s influence and the benefits that accrue to euro area members;
Amendment 102 #
2020/2037(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Reiterates, in this context, the need to deepen and complete the Economic and Monetary Union (EMU), the Banking Union and the Capital Markets Union (CMU), with a view to enhancing - by strengthening the governance and the fiscal capacity for eurozone to be able to provide a counter-cyclical stabilization function -, the Banking Union - by focusing on an introduction of a common deposits insurance scheme - and the Capital Markets Union (CMU) - in order to ensure deeper cross-border capital flows including strengthening of cooperation on taxation on financial products and convergence of company law and insolvency regimes - with a view to enhancing the EU's political and institutional framework and therefore the international competitiveness of European markets and the attractiveness of the euro;
Amendment 110 #
2020/2037(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Underlines that the international role of the euro would also benefit from the untapping of the potential of one of the greatest added values of the EU - its single market; calls in this respect for the completion of the single market, which encompasses all EU countries, also the ones not belonging to the euro area;
Amendment 133 #
2020/2037(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Emphasises the need for sustainable and sound fiscal and structural growth- enhancing policies that are based on a commitment to credible fiscal rules; calls for further reflection on the adequacy of the stability and growth pact framework despite the challenging circumstances; supports the plan outlined in Next Generation EU to use, in addition to monetary policy, a fiscal impulse, notably borrowing EUR 750 billion from capital markets bonds to finance the recovery and green transition, in addition to the issuance of EUR 100 billion in ‘social’ bonds under the European instrument for temporary support to mitigate unemployment risks in an emergency (SURE), which is intended to preserve employment; Emphasizes in this respect that a crucial factor in the use of Next Generation EU is, alongside the investment in a greener economy, is to intensify policy to restructure the EU economies toward medium and high-level technologies; applauds the high level of interest that investors have demonstrated in European bonds;
Amendment 142 #
2020/2037(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Highlights, in this respect, that a higher amount of EU's own resources through various taxes is a step in the right direction in becoming a true fiscal entity, and therefore, strengthening the role of the euro;
Amendment 156 #
2020/2037(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Underlines that as large and permanent current account surpluses create instability for a prominent international role of a currency, the Euro area growth model should be rebalanced and the export-led tendency shall be offset by measures that stimulate the internal demand, to a level compatible with potential supply;
Amendment 225 #
2020/2037(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Takes note ofWelcomes the ECB report on the digital euro, and of the value a digital currency can add in strengthening the international role of the euro; supports the ECB’s efforts in ensuring a high level of cyber resilience;
Amendment 42 #
2020/0380(COD)
Proposal for a regulation
Recital 2
Recital 2
(2) Following the end of the transition period, barriers to trade and to cross-border exchanges between the Union and the United Kingdom will be present. Broad and far-reaching social and economic consequences for businesses, especially SMEs and micro-entities and their employees, citizens and public administrations, local communities and regions, are expected. Those consequences are unavoidable and stakeholders need to make sure that they are ready for them.
Amendment 43 #
2020/0380(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) The Union is committed to mitigating the economic impact of the withdrawal of the United Kingdom from the Union and to show solidarity with all Member States, especially the most affected ones in such exceptional circumstances. However, many uncertainties associated with the impact of the UK’s withdrawal remain, which make it difficult to determine the specific exposure of a Member State’s economy. For example, possible positive gains can be expected from the movement of economic sectors of activity from the UK to certain Member States in the Union.
Amendment 47 #
2020/0380(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) A Brexit Adjustment Reserve (the ‘Reserve’) should be established to provide support to counter adverse consequences in Member States, regions, local communities and sectors, in particular those that are worst affected by the withdrawal of the United Kingdom from the Union, and thus to mitigate the related impact on the economic, social and territorial cohesion. It should cover in whole or in part the additional public expenditure incurred by Member States for measures specifically taken to mitigate those consequences.
Amendment 49 #
2020/0380(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) For the purposes of contributing to economic, social and territorial cohesion, it is appropriate that Member States, when designing support measures, focus in particular on the regions, areas and local communities, including those dependent on fishing activities in the United Kingdom waters, that are likely to be most negatively impacted by the withdrawal of the United Kingdom. Member States may have to take specific measures notably to support businesses and economic sectors adversely affected by the withdrawal, giving special attention to SMEs, micro-entities and their employees with the aim of securing quality employment and social security and protection . Member States should ensure that new high-quality jobs are created in those regions and local communities particularly affected, as jobs are key for regions and local communities to thrive. It is therefore appropriate to provide a non-exhaustive list of the type of measures that are most likely to achieve this objective.
Amendment 59 #
2020/0380(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) At the same time, it is important to clearly specify any exclusions from support provided by the Reserve. The Reserve should exclude from support the value added tax as it constitutes a Member State revenue, which offsets the related cost for the Member State budget. In order to concentrate the use of limited resources in the most efficient way, technical assistance used by the bodies responsible for the implementation of the Reserve should not be eligible for support from the Reserve. In line with the general approach for cohesion policy, expenditure linked to relocations or contrary to any applicable Union or national law should not be supported. Furthermore, the support given should not lead to distortion of competition within the internal market.
Amendment 61 #
2020/0380(COD)
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6 a) It should be noted that there is potentially big variation in the financial allocation per Member State. In order to allow the use of the resources in the most efficient way, technical assistance used by the bodies responsible for the management, monitoring, information and communication and control and auditing of the Reserve should be set at 3% of the contribution from the Reserve for each Member State.
Amendment 63 #
2020/0380(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) In order to take into account the immediate impact of the adverse consequences of the withdrawal of the United Kingdom from the Union on the Member States and their economies and the need to adopt mitigating and adapting measures, as appropriate, prior to the expiry of the transition period, the eligibility period for implementing such measures should start as from 1 JulFebruary 2020 and be concentrated over a limited period of 30 monthsuntil 31 December 2022.
Amendment 70 #
2020/0380(COD)
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8 a) Stresses the need for each EU budgetary programme and its beneficiaries to ensure respect for fundamental rights and deliver and contribute to implementing gender equality and its mainstreaming, the European Pillar of Social Rights, the European Green Deal based on a just transition, the biodiversity objectives and the UN Sustainable Development Goals, where relevant.
Amendment 71 #
2020/0380(COD)
Proposal for a regulation
Recital 8 b (new)
Recital 8 b (new)
(8 b) The implementation of the Reserve should be carried out in line with the principle of sound financial management, including the effective prevention and prosecution of tax fraud, tax evasion, tax avoidance and aggressive tax planning.
Amendment 72 #
2020/0380(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) Horizontal financial rules adopted by the European Parliament and the Council on the basis of Article 322 of the Treaty on the Functioning of the European Union (TFEU) apply to this Regulation. These rules are laid down in the Financial Regulation and determine in particular the procedure for establishing and implementing the budget, and provide for checks on the responsibility of financial actors. Rules adopted on the basis of Article 322 TFEU also concern the general regime of Rule of Law conditionality for the protection of the Union budget.
Amendment 77 #
2020/0380(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) In order to enable Member States to deploy the additional resources and to ensure sufficient financial means to swiftly implement measures under the Reserve, a substantial amount thereof should be disbursed in 2021 as pre-financing. The distribution method should take into account the importance of trade with the United Kingdom and the importance of fisheries in the United Kingdom exclusive economic zone, based on reliable and official statistics and needs to ensure equal treatment of all Member States. Given the unique nature of the event that the withdrawal of the United Kingdom from the Union constitutes and the uncertainty that has surrounded key aspects of the relationship between the United Kingdom and the Union after the expiry of the transition period, it is difficult to anticipate the appropriate measures Member States will have to take rapidly to counter the effects of the withdrawal. It is therefore necessary to grant Member States flexibility and in particular to allow the Commission to adopt the financing decision providing the pre-financing without the obligation pursuant to Article 110(2) of the Financial Regulation to provide a description of the concrete actions to be financed.
Amendment 85 #
2020/0380(COD)
Proposal for a regulation
Recital 15
Recital 15
(15) To ensure equal treatment of all Member States and consistency in the evaluation of the applications, the Commission should assess the applications in a package. It should look in particular into the eligibility and the accuracy of the expenditure declared, the direct link of the expenditure with measures taken to address the consequences of the withdrawal and the measures put in place by the Member State concerned to avoid double funding. Upon assessment of the applications for a financial contribution from the Reserve, the Commission should clear the pre- financing paid, and recover the unused amount. In order to concentrate the support on Member States most affected by the withdrawal, where the expenditure in the Member State concerned, accepted as eligible by the Commission, exceeds the amount paid as pre-financing and 0.06% of the nominal Gross National Income (GNI) for 2021 of the Member State concerned, it should be possible to allow for a further allocation from the Reserve to thatall Member States within the limits of the financial resources available. Given the extent of the expected economic shock, the possibility to use the amounts recovered from the pre-financing for the reimbursement of additional expenditure by Member States should be provided for. For the additional amounts, the allocation criteria as set out in Annex I should apply.
Amendment 87 #
2020/0380(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) In order to ensure the proper functioning of shared management, Member States should establish a management and control system, designate and notify the Commission of the bodies responsible for the management of the Reserve as well as a separate independent audit body. For simplification reasons, Member States may make use of existing bodies designated and systems set up for the purpose of the management and control of cohesion policy funding or the European Union Solidarity Fund. It is necessary to specify the responsibilities of the Member States and lay down the specific requirements for the bodies designated. Where new bodies are created by the Member States, the Commission should, in the early stages of the eligibility period, assess their adequacy in contributing to the protection of the financial interests of the EU. The Commission should furthermore ensure a consistent and comparable audit approach in all Member States.
Amendment 91 #
2020/0380(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) In accordance with the Financial Regulation, Council Regulation (EC, Euratom) No 2988/9514 , Council Regulation (Euratom, EC) No 2185/9615 and Council Regulation (EU) 2017/193916 and Regulation (EU, Euratom) No 2020/2092on a general regime of Rule of Law conditionality for the protection of the Union budget, the financial interests of the Union are to be protected through proportionate measures, including the prevention, detection, correction and investigation of irregularities and fraud, the recovery of funds lost, wrongly paid or incorrectly used and, where appropriate, the imposition of administrative sanctions. In particular, in accordance with Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council17 and Regulation (Euratom, EC) No 2185/96, the European Anti-Fraud Office (OLAF) may carry out administrative investigations, including on- the-spot checks and inspections, with a view to establishing whether there has been fraud, corruption or any other illegal activity affecting the financial interests of the Union. In accordance with Regulation (EU) 2017/1939, the European Public Prosecutor's Office (EPPO) may investigate and prosecute fraud and other criminal offences affecting the financial interests of the Union as provided for in Directive (EU) 2017/1371 of the European Parliament and of the Council18 . In accordance with the Financial Regulation, any person or entity receiving Union funds is to fully cooperate in the protection of the Union’s financial interests, to grant the necessary rights and access to the Commission, OLAF, the EPPO and the European Court of Auditors and to ensure that any third parties involved in the implementation of Union funds grant equivalent rights. _________________ 14 Council Regulation (EC, Euratom) No 2988/95 of 18 December 1995 on the protection of the European Communities financial interests (OJ L 312, 23.12.1995, p. 1). 15 Council Regulation (Euratom, EC) No 2185/96 of 11 November 1996 concerning on-the-spot checks and inspections carried out by the Commission in order to protect the European Communities' financial interests against fraud and other irregularities (OJ L 292, 15.11.1996, p. 2). 16Council Regulation (EU) 2017/1939 of 12 October 2017 implementing enhanced cooperation on the establishment of the European Public Prosecutor’s Office (‘the EPPO’) (OJ L 283, 31.10.2017, p. 1). 17Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1074/1999 (OJ L 248, 18.9.2013, p. 1). 18 Directive (EU) 2017/1371 of the European Parliament and of the Council of 5 July 2017 on the fight against fraud to the Union's financial interests by means of criminal law (OJ L 198, 28.7.2017, p. 29).
Amendment 92 #
2020/0380(COD)
Proposal for a regulation
Recital 17 a (new)
Recital 17 a (new)
(17 a) In order to ensure efficient and coherent allocation of funds from the Union budget and to respect the principle of sound financial management, financial actions under the Reserve should be consistent with and complementary to ongoing Union programmes and priorities, such as the digital transition and a just climate transition, while avoiding double funding for the same expenditure. Therefore, financial support under the Reserve should be additional to the support provided under other Union programmes and instruments, provided that such support does not cover the same cost.
Amendment 96 #
2020/0380(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) In order to enhance transparency on the use of the Union contribution, the Commission should provide a final report to the European Parliament and the Council on the implementation of the Reserve. The Commission should evaluate in particular whether resources were used in an effective, efficient and EU value- added way, with Member States providing assistance to those regions, local communities and sectors particularly affected. The evaluation should also assess whether there was real and measurable impact in mitigating the negative effects of the UK's withdrawal from the EU, taking into consideration the very broad eligibility criteria for expenditure, the lack of clear priorities and indicators, as well as, the lack of an impact assessment and stakeholder consultation prior to adopting the proposal.
Amendment 99 #
2020/0380(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
(1) ‘reference period’ means the reference period referred to in Article 63(5), point (a), of the Financial Regulation, which shall be from 1 JulFebruary 2020 to 31 December 2022;
Amendment 106 #
2020/0380(COD)
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
The Reserve shall provide support to counter the adverse consequences of the withdrawal of the United Kingdom from the Union in Member States, regionbusinesses, especially SMEs and micro-entities including their employees, regions, local communities and sectors, in particular those that are worst affected by that withdrawal, and to mitigate the related impact on the economic, social and territorial cohesion.
Amendment 114 #
2020/0380(COD)
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. The maximum resources for the Reserve shall be EUR 5 370 994000 000 000 in current2018 prices.
Amendment 117 #
2020/0380(COD)
Proposal for a regulation
Article 4 – paragraph 3 – point a
Article 4 – paragraph 3 – point a
(a) a pre-financing amount of EUR 4 244 832 000000 000 000 in 2018 prices shall be made available in 2021 in accordance with Article 8;
Amendment 123 #
2020/0380(COD)
Proposal for a regulation
Article 4 – paragraph 3 – point b
Article 4 – paragraph 3 – point b
(b) additional amounts of EUR 1 126 162 000000 000 000 in 2018 prices shall be made available in 2024 in accordance with Article 11.
Amendment 128 #
2020/0380(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point a
Article 5 – paragraph 1 – point a
(a) measures to assist businesses, especially SMEs and micro-entities, and local communities and regions adversely affected by the withdrawal;
Amendment 133 #
2020/0380(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point c
Article 5 – paragraph 1 – point c
(c) measures to support businesses, especially SMEs and micro entities and local communities and regions dependent on fishing activities in the United Kingdom waters;
Amendment 136 #
2020/0380(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point d
Article 5 – paragraph 1 – point d
(d) measures to support employment, and job creation, especially in those regions and local communities most affected, with the aim of securing quality employment, social security and protection including through short-time work schemes, re-skilling and upskilling and training in affected sectors;
Amendment 142 #
2020/0380(COD)
Proposal for a regulation
Article 5 – paragraph 1 – point f
Article 5 – paragraph 1 – point f
(f) measures to facilitate regimes for certification and authorisation of products, to assist in meeting establishment requirements, to facilitate labelling and marking, for example for safety, health and environmental and social standards, as well as to assist in mutual recognition, including additional personnel and infrastructure, especially digital infrastructure;
Amendment 152 #
2020/0380(COD)
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. The measures referred to in paragraph 1 shall comply with applicable law, the implementation of gender equality, the European Pillar of Social Rights, the European Green Deal based on a just transition, the biodiversity objectives and the UN Sustainable Development Goals, where relevant.
Amendment 154 #
2020/0380(COD)
Proposal for a regulation
Article 5 – paragraph 5
Article 5 – paragraph 5
5. Measures eligible under paragraph 1 may receivshall be additional to the support fpromvided under other Union programmes and instruments provided that such support does not cover the same cost.
Amendment 157 #
2020/0380(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point b
Article 6 – paragraph 1 – point b
Amendment 161 #
2020/0380(COD)
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
2. Member States shall use the contribution from the Reserve to implement the measures referred to in Article 5 to provide non-repayable forms of support. The Union contribution shall take the form of reimbursement of eligible costs actually incurred and paid by Member States in implementing the measures and of flat-rate financing for technical assistance.
Amendment 166 #
2020/0380(COD)
Proposal for a regulation
Article 8 – paragraph 3
Article 8 – paragraph 3
3. The Commission shall pay the pre- financing within 6045 days of the date of the adoption of the implementing act referred to in paragraph 2. It shall be cleared in accordance with Article 11.
Amendment 175 #
2020/0380(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point a
Article 10 – paragraph 2 – point a
(a) a description of the impact of the withdrawal of the United Kingdom from the Union in economic and social terms, especially on jobs and employment, including an identification of the regions, areas and sectors most affected;
Amendment 178 #
2020/0380(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point b
Article 10 – paragraph 2 – point b
(b) a description of the measures taken to counter the adverse consequences of the withdrawal of the United Kingdom from the Union, of the extent to which those measures alleviated the regional, local and sectoral impact referred to in point (a), and how they were implemented; a description of whether the measures created new high quality jobs in those regions and local communities particularly affected;
Amendment 180 #
2020/0380(COD)
Proposal for a regulation
Article 10 – paragraph 2 – point e
Article 10 – paragraph 2 – point e
(e) a description of the contribution of the measures to climate change mitigation and adaptation, the sustainable use and protection of water and marine resources, the protection and restoration of biodiversity and ecosystems, and the transition to a circular economy, where relevant.
Amendment 184 #
2020/0380(COD)
Proposal for a regulation
Article 11 – paragraph 2 – point a
Article 11 – paragraph 2 – point a
Amendment 186 #
2020/0380(COD)
Proposal for a regulation
Article 11 – paragraph 3 – introductory part
Article 11 – paragraph 3 – introductory part
3. Where the accepted amount exceeds both the amount of pre-financing and 0.06% of the nominal GNI of 2021 of the Member State concerned, an aAdditional amounts shall be due to that Member States from the allocation referred to in Article 4(3), point (b), and any amounts carried over pursuant to Article 8(4).
Amendment 190 #
2020/0380(COD)
Proposal for a regulation
Article 11 – paragraph 3 – subparagraph 1
Article 11 – paragraph 3 – subparagraph 1
Amendment 191 #
2020/0380(COD)
Proposal for a regulation
Article 11 – paragraph 3 – subparagraph 2
Article 11 – paragraph 3 – subparagraph 2
Amendment 205 #
2020/0380(COD)
Proposal for a regulation
Article 13 – paragraph 4 – introductory part
Article 13 – paragraph 4 – introductory part
4. The independent audit body shall audit the system and carry out independent audits of financed measures in order to provide independent assurance to the Commission regarding the effective functioning of the management and control system and the legality and regularity of the expenditure included in the accounts submitted to the Commission.
Amendment 207 #
2020/0380(COD)
Proposal for a regulation
Article 13 – paragraph 4 – subparagraph 2
Article 13 – paragraph 4 – subparagraph 2
The independent audits of the financed measures shall cover expenditure on the basis of a sample. That sample shall be representative and based on statistical sampling methods.
Amendment 213 #
2020/0380(COD)
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
1. By 30 June 2026, the Commission shall carry out an evaluation to examine the effectiveness, efficiency, relevance, coherence and EU added value of the Reserve. The Commission shall evaluate to what extent Member States' measures alleviated the impact in particularly affected local communities, regions and sectors. The Commission may make use of all relevant information already available in accordance with Article 128 of the Financial Regulation.
Amendment 138 #
2020/0104(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) The outbreak of the COVID-19 pandemic in early 2020 changed the economic outlook for the years to come in the Union and in the world, posed a risk of significant distortions to the internal market by the asymmetric national responses, calling for an urgent and coordinated response from the Union in order to cope with the enormous economic and social consequences for all Member States. The challenges linked to the demographic context have been amplified by COVID-19. The current COVID-19 pandemic as well as the previous economic and financial crisis have shown that developing sound and resilient economies and financial systems built on strong economic and social structures helps Member States to respond more efficiently to shocks and recover more swiftly from them. The medium and long-term consequences of the COVID-19 crisis will critically depend on how quickly Member States’ economies will recover from the crisis, which in turn depends on the fiscal space Member States have available to take measures to mitigate the social and economic impact of the crisis, and on the resilience of their economies. Reforms and investments to address structural weaknesses of the economies and strengthen their resilience will therefore be essential to set the economies back on a sustainable recovery path and avoid further widening of the divergences in the Union.
Amendment 143 #
2020/0104(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) The outbreak of the COVID-19 pandemic in early 2020 changed the economic outlook for the years to come in the Union and in the world, calling for an urgent and coordinated response from the Union in order to cope with the enormous economic and social consequences for all Member. The challenges linked to the demographic context have been amplified by COVID-19. The current COVID-19 pandemic as well as the previous economic and financial crisis have shown that developing sound and resilient economies and financial systems built on strong economic and social structures helps Member States to respond more efficiently to shocks and recover more swiftly from them. The medium and long-term consequences of the COVID-19 crisis will critically depend on how quickly Member States’ economies will recover from the crisis, which in turn depends on the fiscal space Member States have available to take measures to mitigate the social and economic impact of the crisis, and on the resilience of their economies. Reforms and investments to address structural weaknesses of the economies and strengthen their resilience, increase their productivity and competitiveness, will therefore be essential to set the economies back on a sustainable recovery path and avoid further widening of the divergences in the Union.
Amendment 162 #
2020/0104(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) The implementation of reforms contributing to achieve a high degree of resilience of domestic economies, strengthening adjustment capacity and unlocking growth potential are among the Union’s policy priorities. They are therefore crucial to set the recovery on a sustainable, fair and inclusive path and support the process of upward economic and social convergence. This is even more necessary in the aftermath of the pandemic crisis to pave the way for a swift recovery.
Amendment 180 #
2020/0104(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) Past experiences have shown that investment is often drastically cut during crises. However, it is essential to support investment in this particular situation to speed up the recovery and strengthen long- term growth potential. Investing in green and digital technologies, capacities and processes aimed at assisting clean energy transition, boosting energy efficiency in housing, research and innovation, well- functioning internal market, public administration and other key sectors of the economic are important to achieve sustainable growth and help create jobs. It will also help make the Union more resilient and less dependent by diversifying key supply chains.
Amendment 201 #
2020/0104(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) Currently, no instrument foresees direct financial support linked to the achievement of results and to implementation of reforms and public investments of the Member States in response to challenges identified in the European Semester, and with a view to having a lasting impact on the productivity, competitiveness and resilience of the economy of the Member States.
Amendment 214 #
2020/0104(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) Against this background, it is necessary to strengthen the current framework for the provision of support to Member States and provide direct financial support to Member States through an innovative tool. To that end, a Recovery and Resilience Facility (the ‘Facility’) should be established under this Regulation to provide effective financial and significant support to step up the implementation of reforms and related public investments in the Member States. The Facility should be comprehensive and should also benefit from the experience gained by the Commission and the Member States from the use of the other instruments and programmes and, in particular, the Structural Reform Support Program and Technical Support Instrument.
Amendment 230 #
2020/0104(COD)
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10a) The Facility should support projects that respect the principle of additionality of Union funding and that generate a genuine European added value. The Facility should not be a substitute for recurring national expenditures and should not run counter to the strategic and economic interests of the Union, and should therefore not finance investment plans of third countries. However, recurrent costs from investments and reforms should be considered in the costing of the Recovery and Resilience Plan if they have direct positive structural benefits and if the negative effect on the government balance is only temporary.
Amendment 246 #
2020/0104(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) Reflecting the European Green Deal as Europe’s sustainable growth strategy and the translation of the Union's commitments to implement the Paris Agreement and, the United Nations’ Sustainable Development Goals and to be climate neutral by 2050, the Facility established by this Regulation will contribute to mainstreaming climate actions and environmental sustainability and to the achievement of an overall target of 25 30% of the EU budget expenditures supporting climate objectivesand environmental objectives. The Facility should support activities that fully respect the climate and environmental standards and priorities of the Union and "do no significant harm" principle.
Amendment 273 #
2020/0104(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) In order to implement these overall objectives, relevant actions will be identified during the Facility’s preparation and implementation, and reassessed in the context of the relevant evaluations and review processes. Also, due attention should be paid to the impact of the national plans submitted under this Regulation on fostering not only the green transition, but also the digital transformation and the response to the demographic challenges. They will both play a priority role in relaunching and modernising our economy.
Amendment 283 #
2020/0104(COD)
Proposal for a regulation
Recital 13
Recital 13
Amendment 285 #
2020/0104(COD)
Proposal for a regulation
Recital 13
Recital 13
Amendment 308 #
2020/0104(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) The Facility’s general objective should be the promotion of economic, social and territorial cohesion. For that purpose, it should contribute to improving the resilience and adjustment capacity of the Member States, mitigating the social and economic impact of the crisis, and supporting the green and digital transitions aimed at achieving a climate neutral Europe by 2050, thereby restoring the growth potential of the economies of the Union in the aftermath of the crisis, fostering employment creation and to promoting sustainable growth. Restoring growth potential will be also pursued through measures to address the difficult demographic situation of different Member States, that hampers long-term growth, due to shrinking workforce.
Amendment 316 #
2020/0104(COD)
Proposal for a regulation
Recital 14
Recital 14
(14) The Facility’s general objective should be the promotion of economic, social and territorial cohesion. For that purpose, it should contribute to improving the resilience and adjustment capacity of the Member States, mitigating the social and economic impact of the crisis, and supporting the green and digital transitions aimed at achieving a climate neutral Europe by 2050, thereby restoring the growth potential of the economies of the Union in the aftermath of the crisis, fostering employment creation, well- functioning of the single market and to promoting sustainable and inclusive growth.
Amendment 339 #
2020/0104(COD)
Proposal for a regulation
Recital 16
Recital 16
(16) To ensure its contribution to the objectives of the Facility, the recovery and resilience plan should comprise measures for the implementation of reforms and public investment projects through a coherent recovery and resilience plan. The recovery and resilience plan should be consistent with the relevant country- specific challenges and priorities identified in the context of the European Semester, with the national reform programmes, the strategic orientations on the reforms and public investments discussed between the Council and the European Parliament, the national energy and climate plans, the just transition plans, and the partnership agreements and operational programmes adopted under the Union funds. To boost actions that fall within the priorities of the European Green Deal and, the Digital Agenda and the Industrial Strategy, the plan should also set out measures that are relevant for the green and digital transitions as well as to improve the conditions to strengthen the resilience in addressing global impacts. The measures should enable a swift deliver of targets, objectives and contributions set out in national energy and climate plans and updates thereof. All supported activities should be pursued in full respect of the climate and environmental priorities of the Union. Reforms and investments should also contribute to the reduction of asymmetries and foster convergence and cohesion between and within Member States.
Amendment 369 #
2020/0104(COD)
Proposal for a regulation
Recital 18
Recital 18
(18) To inform the preparation and the implementation of the recovery and resilience plans by Member States, the Council should be able to discuss, within the European Semester, the state of recovery, resilience and adjustment capacity in the Un and in order to enhance the dialogue between the Union Institutions and to ensure greater transparency and democratic accountability in the economic dialogue, the Council and the European Parliament should be able to discuss, within the European Semester, strategic orientations on the reforms and public investments for the EU as a whole taking into account the state of recovery, resilience and adjustment capacity in the Union. These strategic orientations should effectively contribute to strengthen the growth potential, job creation, and economic and social resilience of the Member State, mitigate the economic and social impact of the crisis, and contribute to enhance economic, social and territorial cohesion. To ensure appropriate evidence, this discussion should be based on the Commission’s strategic and analytical information available in the context of the European Semester and, if available, on the basis of the information on the implementation of the plans in the preceding years.
Amendment 380 #
2020/0104(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) In order to ensure a meaningful financial contribution commensurate to the actual needs of Member States to undertake and complete the reforms and investments included in the recovery and resilience plan, it is appropriate to establish a maximum financial contribution available to them under the Facility as far as the financial support (i.e. the non- repayable financial support) is concerned. TDuring 2021 and 2022, that maximum contribution should be calculated on the basis of the population, the inverse of the per capita Gross Domestic Product (GDP) and the relative unemployment rate of each Member State for the years 2015-2019. During 2023 and 2024 that maximum financial contribution should be calculated on the basis of the population, the inverse GDP, the relative unemployment rate of each Member State for the years 2015-2019 and the cumulative loss in real GDP observed over the period 2020-2021 compared to 2019.
Amendment 400 #
2020/0104(COD)
Proposal for a regulation
Recital 21
Recital 21
(21) In order to ensure the national ownership and a focus on relevant reforms and investments, Member States wishing to receive support should submit to the Commission a recovery and resilience plan that is duly reasoned and substantiated. The recovery and resilience plan should set out the detailed set of measures for its implementation, including targets and milestones, and the expected impact of the recovery and resilience plan on growth potential, job creation and economic and social resilience; it should also include measures that are relevant for the green and the digital transitions; it should also include an explanation of the consistency of the proposed recovery and resilience plan with the relevant country-specific challenges and priorities identified in the contextpriorities identified in the context of the European Semester, as well as an explanation of how the planned reforms and investments addresses challenges to good and effective public administration and capacity gaps through capacity building. Member States should ensure the principle of partnership in the preparation of the recovery and resilience plans, building ofn the European Semestmulti-level governance approach and ensuring the involvement of civil society and social partners. Close cooperation between the Commission and the Member States should be sought and achieved throughout the process.
Amendment 417 #
2020/0104(COD)
Proposal for a regulation
Recital 21 a (new)
Recital 21 a (new)
(21a) To ensure the efficiency and effectiveness of the Facility, all procedures foreseen under the present Regulation shall enable a streamlined and coherent governance system and avoid any duplication or overlap of duties and competences among all institutions and entities involved. In light of the urgency of action due to the present crisis, decisions pertaining to the assessment of the recovery and resilience plans and the disbursement of the allocated resources shall be adopted in a timely manner. In any case, said procedures shall not prevent the Commission from exercising its competences in the execution of the European budget as set out in Art. 17 TEU and 317 TFEU.
Amendment 423 #
2020/0104(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) The Commission should assess the recovery and resilience plan proposed by the Member States and should act in close cooperation with the Member State concerned. The Commission will fully respect the national ownership of the process and will therefore take into account the justification and elements provided by the Member State concerned and assess whether the recovery and resilience plan proposed by the Member State is expected to contribute to effectively address challenges identified in the relevant country-specific recommendation addressed to the Member State concerned or in oEuropean Semester or in other relevant documents officially adopted by the Commission in the context of the European Semester; whether the plan addresses the strategic orientations on ther relevant documents officially adopted by the Commission informs and investment priorities of the European Union discussed by the European Council and the European SemesterParliament; whether the plan contains measures that effectively contribute to the green and the digital transitions and to addressing the challenges resulting from them; whether the plan is linked with previous or planned reforms in the framework of the Structural Reform Support Program or Technical Support Instrument and is expected to have a lasting impact in the Member State concerned; whether the plan is expected to effectively contribute to strengthen the growth potential, job creation and economic and social resilience of the Member State, mitigate the economic and social impact of the crisis and contribute to enhancing economic, social and territorial cohesion; whether the justification provided by the Member State of the estimated total costs of the recovery and resilience plan submitted is reasonable and plausible and is commensurate to the expected impact on the economy and employment; whether the proposed recovery and resilience plan contains measures for the implementation of reforms and public investment projects that represent coherent actions; and whether the arrangement proposed by the Member State concerned are expected to ensure effective implementation of the recovery and resilience plan, including the proposed milestones and targets, and the related indicators. When assessing the plans the Commission should build on the experience and expertise acquired through the Structural Reform Support Program and Technical Support Instrument to ensure that reforms planned under this instrument are coherent and properly designed to be effectively implemented.
Amendment 433 #
2020/0104(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) The Commission should assess the recovery and resilience plan proposed by the Member States and should act in close cooperation with the Member State concerned. The Commission will fully respect the national ownership of the process and will therefore take into account the justification and elements provided by the Member State concerned and assess whether the recovery and resilience plan proposed by the Member State is expected to contribute to effectively address challenges identified in the relevant country-specific recommendation addressed to the Member State concerned or in other relevant documents officially adopted by the Commission in the European Semester; whether the plan contains measures that effectively contribute to the green and the digital transitions and to addressing the challenges resulting from them; whether the plan is expected to have a lasting impact in the Member State concerned; whether the plan is expected to effectively contribute to strengthen the growth potential, job creation and economic and social resilience of the Member State, mitigate the economic and social impact of the crisis and contribute to enhancing economic, social and territorial cohesion; whether the plan contains measures that effectively contribute to address the demographic challenges; whether the justification provided by the Member State of the estimated total costs of the recovery and resilience plan submitted is reasonable and plausible and is commensurate to the expected impact on the economy and employment; whether the proposed recovery and resilience plan contains measures for the implementation of reforms and public investment projects that represent coherent actions; and whether the arrangement proposed by the Member State concerned are expected to ensure effective implementation of the recovery and resilience plan, including the proposed milestones and targets, and the related indicators.
Amendment 442 #
2020/0104(COD)
Proposal for a regulation
Recital 24
Recital 24
(24) In order to contribute to the preparation of high-quality plans and assist the Commission in the assessment of the recovery and resilience plans submitted by the Member States and in the assessment of the degree of their achievement, provision should be made for the use of expert advice and, at the Member State request, peer counselling. The Commission support in the preparation of the plan and their implementation should also draw on the expertise in building more effective institutions and efficient public administration and reflect the objectives of the Facility, notably the strengthening of economic, social and territorial cohesion.
Amendment 445 #
2020/0104(COD)
Proposal for a regulation
Recital 24
Recital 24
(24) In order to contribute to the preparation of high-quality plans and assist the Commission in the assessment of the recovery and resilience plans submitted by the Member States and in the assessment of the degree of their achievement, provision should be made for the use of expert advice and, at the Member State request, peer counselling and technical support.
Amendment 470 #
2020/0104(COD)
Proposal for a regulation
Recital 28 a (new)
Recital 28 a (new)
(28a) Loans agreed under the Facility and requested by Member States, and the related expenditure, will not be taken into account when assessing compliance within the framework of the Stability and Growth Pact.
Amendment 505 #
2020/0104(COD)
Proposal for a regulation
Recital 33
Recital 33
(33) For effective monitoring of implementation, the Member States should report on a quarterlybiannual basis within the European Semester process on the progress made in the achievement of the recovery and resilience plan. Such reports prepared by the Member States concerned should be appropriately reflected in the National Reform Programmes, which should be used as a tool for reporting on progress towards completion of recovery and resilience plans. For the implementation of the recovery and resilience plans, Member States can make use of the Technical Support Instrument in accordance with Regulation XX/YYYY [establishing Technical Support Instrument].
Amendment 519 #
2020/0104(COD)
Proposal for a regulation
Recital 35
Recital 35
(35) In order to ensure an efficient and coherent allocation of funds from the Union budget and to respect the principle of sound financial management, actions under this Regulation should be consistent with and be complementary to ongoing Union programmes, whilst avoiding double funding for the same expenditure. In particular, the Commission and the Member State should ensure, in all stages of the process, effective coordination in order to safeguard the consistency, coherence, complementarity and synergy among sources of funding and technical support received through the Technical Support Instrument. To that effect, Member States should be required to present the relevant, information on existing or planned Union financing when submitting their plans to the Commission. Financial support under Facility should be additional to the support provided under other Union funds and programmes, and reform and investment projects financed under the Facility should be able to receive funding from other Union programmes and instruments provided that such support does not cover the same cost.
Amendment 527 #
2020/0104(COD)
Proposal for a regulation
Recital 36
Recital 36
(36) Pursuant to paragraphs 22 and 23 of the Interinstitutional Agreement for Better Law-Making of 13 April 2016, there is a need to evaluate the Recovery and Resilience Facility established by this Regulation on the basis of information collected through specific monitoring requirements, while avoiding overregulation and administrative burdens, in particular on Member States. These requirements, where appropriate, should include measurable indicators, as a basis for evaluating the effects of the instruments on the ground. Spending under the Facility should be subject to a discharge procedure.
Amendment 534 #
2020/0104(COD)
Proposal for a regulation
Recital 37
Recital 37
(37) It is opportune that the Commission provides an annual report to the European Parliament and the Council on the implementation of the Facility set out in this Regulation. This report should include information on the progress made by Member States under the recovery and resilience plans approved; it should also include information on the volume of the proceeds assigned to the Facility under the European Union Recovery Instrument in the previous year, broken down by budget line, and the contribution of the amounts raised through the European Union Recovery Instrument to the achievements of the objectives of the Facility. In this regard, the Commission should propose a set of common output and performance indicators.
Amendment 547 #
2020/0104(COD)
Proposal for a regulation
Recital 39
Recital 39
(39) The recovery and resilience plans to be implemented by the Member States and the corresponding financial contribution allocated to them should be established by the Commission by way of implementing act. In order to ensure uniform conditions for the implementation of this Regulation, implementing powers should be conferred on the Commission. The implementing powers relating to the adoption of the recovery and resilience plans and to the payment of the financial support upon fulfilment of the relevant milestones and targets should be exercised by the Commission in accordance with Regulation (EU) No 182/2011 of the European Parliament and of the Council, under the examination procedure thereof13 . After the adoption of an implementing delegated act, it should be possible for the Member State concerned and the Commission to agree on certain operational arrangements of a technical nature, detailing aspects of the implementation with respect to timelines, indicators for the milestones and targets, and access to underlying data. To allow the continuous relevance of the operational arrangements in respect of the prevailing circumstances during the implementation of the recovery and resilience plan, it should be possible that the elements of such technical arrangements may be modified by mutual consent. Horizontal financial rules adopted by the European Parliament and the Council on the basis of Article 322 ofSuch arrangements, as well as the choice of the relevant milestones and targets, shall allow the inclusion in the Treaty on the Functioning of the European Union apply to this Regulation. These rules are laid down in the Financial Regulation and determine in particular the procedure for establishing and implementing the budget through grants, procurement, prizes,covery and resilience plans of infrastructural investments which, due to their indiherecnt implementation, and provide for checks on the responsibility of financial actors. Rules adopted on the basis of Article 322 TFEU also csize and complexity, may require loncgern the prot execution of the Union's budget in case of generalised deficiencies as regards the rule of law in the Member States, as the respect for the rule of law is an essential precondition for sound financial management and effective EU fundingperiods going beyond the time horizon of the regulation. __________________ 13 Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers (OJ L 55, 28.2.2011, p. 13).
Amendment 555 #
2020/0104(COD)
Proposal for a regulation
Recital 39
Recital 39
(39) The recovery and resilience plans to be implemented by the Member States and the corresponding financial contribution allocated to them should be establishadopted by the Commission by way of implementing act. In order to ensure uniform conditions for the implementation of this Regulation, implementing powers should be conferred onuncil and the European Parliament by means of a delegated act, on a proposal from the Commission. The implementing powers relatinged to the adoption of the recovery and resilience plans and to the payment of the financial support upon fulfilment of the relevant milestones and targets should be exercised by the Commission in accordance with Regulation (EU) No 182/2011 of the European Parliament and of the Council, under the examination procedure thereof13 . After the adoption of an implementing delegated act, it should be possible for the Member State concerned and the Commission to agree on certain operational arrangements of a technical nature, detailing aspects of the implementation with respect to timelines, indicators for the milestones and targets, and access to underlying data. To allow the continuous relevance of the operational arrangements in respect of the prevailing circumstances during the implementation of the recovery and resilience plan, it should be possible that the elements of such technical arrangements may be modified by mutual consent. Horizontal financial rules adopted by the European Parliament and the Council on the basis of Article 322 of the Treaty on the Functioning of the European Union apply to this Regulation. These rules are laid down in the Financial Regulation and determine in particular the procedure for establishing and implementing the budget through grants, procurement, prizes, indirect implementation, and provide for checks on the responsibility of financial actors. Rules adopted on the basis of Article 322 TFEU also concern the protection of the Union's budget in case of generalised deficiencies as regards the rule of law in the Member States, as the respect for the rule of law is an essential precondition for sound financial management and effective EU funding. __________________ 13 Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers (OJ L 55, 28.2.2011, p. 13).
Amendment 1072 #
2020/0104(COD)
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. When assessing the recovery and resilience plan and in the determination of the amount to be allocated to the Member State concerned, the Commission shall take into account the wider objectives of the Facility as laid out in Article 4, the analytical information on the Member State concerned available in the context of the European Semester, the strategic policy orientations on reforms and public investments discussed by the Council and the European Parliament, the experience on reforms acquired through the Structural Reforms Support Program and Technical Support Instrument, as well as the justification and the elements provided by the Member State concerned, as referred to in Article 15(3), and any other relevant information including, in particular, the one contained in the National Reform Programme and the National Energy and Climate Plan of the Member State concerned and, if relevant, information from technical support received via the Technical Support Instrument.
Amendment 1075 #
2020/0104(COD)
Proposal for a regulation
Article 16 – paragraph 2
Article 16 – paragraph 2
2. When assessing the recovery and resilience plan and in the determination of the amount to be allocated to the Member State concerned, the Commission shall take into account the analytical information on the Member State concerned available in the context of the European Semester as well as the justification and the elements provided by the Member State concerned, as referred to in Article 15(3), and any other relevant information including, in particular, the one contained in the National Reform Programme and the National Energy and Climate Plan of the Member State concerned and, if relevant, information from technical support received via the Technical Support Instrument. The Commission shall also require a gender impact assessment of the plan carried out by an independent expert or proceed to such an assessment itself.
Amendment 1147 #
2020/0104(COD)
Proposal for a regulation
Article 16 – paragraph 3 – point c
Article 16 – paragraph 3 – point c
(c) whether the recovery and resilience plan is linked to reforms undertaken or planned under the Structural Reforms Support Program or Technical Support Instrument and is expected to have a lasting impact on the Member State concerned;
Amendment 1150 #
2020/0104(COD)
Proposal for a regulation
Article 16 – paragraph 3 – point c a (new)
Article 16 – paragraph 3 – point c a (new)
(c a) whether the gender equality plan included in the recovery and resilience plan effectively addresses the gender issues emerging in the crisis and ensures gender equality. In particular, the area of employment, access to finance as well as whether it includes measures to prevent and combat gender-based and domestic violence;
Amendment 1156 #
2020/0104(COD)
Proposal for a regulation
Article 16 – paragraph 3 – point d
Article 16 – paragraph 3 – point d
(d) whether the recovery and resilience plan is expected to address the most recent strategic orientations discussed by the European Parliament and the Council on the reforms and public investments that effectively contribute to strengthen the growth potential, job creation, and economic and social resilience of the Member State, ensure the well- functioning of the single market, mitigate the economic and social impact of the crisis, and contribute to enhance economic, social and territorial cohesion;
Amendment 1165 #
2020/0104(COD)
Proposal for a regulation
Article 16 – paragraph 3 – point d
Article 16 – paragraph 3 – point d
(d) whether the recovery and resilience plan is expected to effectively contribute to strengthen the growth potential, job creation, gender equality and economic and social resilience of the Member State, mitigate the economic and social impact of the crisis, and contribute to enhance economic, social and territorial cohesion;
Amendment 1169 #
2020/0104(COD)
Proposal for a regulation
Article 16 – paragraph 3 – point d
Article 16 – paragraph 3 – point d
(d) whether the recovery and resilience plan is expected to effectively contribute to strengthen the growth potential, job creation, and economic and social resilience of the Member State, mitigate the economic and social, social and demographic impact of the crisis, and contribute to enhance economic, social and territorial cohesion;
Amendment 1231 #
2020/0104(COD)
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
1. The Commission shall adopt a decision within four months of the official submission of the recovery and resilience plan by the Member State, by means of an implementing delegated act. In the event that the Commission gives a positive assessment to a recovery and resilience plan, that decision shall set out the reforms and investment projects to be implemented by the Member State, including the milestones and targets, and the financial contribution allocated in accordance with Article 11.
Amendment 1302 #
2020/0104(COD)
Proposal for a regulation
Article 17 – paragraph 7
Article 17 – paragraph 7
7. The implementingdelegated acts referred to in paragraphs 1 and 2 shall be adopted in accordance with the examination procedure referred to in Article 27(25(a).
Amendment 1353 #
2020/0104(COD)
Proposal for a regulation
Article 19 – paragraph 3 – introductory part
Article 19 – paragraph 3 – introductory part
3. Upon completion of the relevant agreed milestones and targets indicated in the recovery and resilience plan as approved in the implementingdelegated act of the Commission, the Member State concerned shall submit to the Commission a duly justified request for payment of the financial contribution and, where relevant, of the loan tranche. Such requests for payment may be submitted by the Member States to the Commission on a biannual basis. The Commission shall assess, within two months of receiving the request, whether the relevant milestones and targets set out in the decision referred to in Article 17(1) have been satisfactorily implemented. For the purpose of the assessment, the operational arrangement referred to in Article 17(6) shall also be taken into account. The Commission may be assisted by experts.
Amendment 1399 #
2020/0104(COD)
Proposal for a regulation
Article 20 – paragraph 1
Article 20 – paragraph 1
The Member State concerned shall report on a quarterlybiannual basis within the European Semester process on the progress made in the achievement of the recovery and resilience plans, including the operational arrangement referred to in Article 17(6). To that effect, the quarterly reports of the Member States shall be appropriately reflected in the National Reform Programmes, which shall be used as a tool for reporting on progress towards completion of the recovery and resilience plans.
Amendment 1417 #
2020/0104(COD)
Proposal for a regulation
Article 21 – paragraph 2 a (new)
Article 21 – paragraph 2 a (new)
2a. Spending under the Facility shall be subject to a discharge procedure by the European Parliament.
Amendment 1425 #
2020/0104(COD)
Proposal for a regulation
Article 22 – paragraph 1 – introductory part
Article 22 – paragraph 1 – introductory part
The Commission and the Member States concerned shall, in a measure commensurate to their respective responsibilities, foster synergies and ensure effective coordination between the instruments established by this Regulation and other Union programmes and instruments, and in particular with the Technical Support Instrument and measures financed by the Union funds. For that purpose, they shall:
Amendment 1431 #
2020/0104(COD)
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
1. The Commission shall monitor the implementation of the Facility and measure the achievement of the objectives set out in Articles 4. Indicators to be used for reporting on progress and for the purpose of monitoring and evaluation of the Facility towards the achievement of the general and specific objectives are set in Annex III. The monitoring of implementation shall be targeted and proportionate to the activities carried out under the Facility. The Commission should present a set of output and performance indicators that clearly capture the objectives laid out in Article 4.
Amendment 62 #
2020/0102(COD)
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10a) The creation of an European Health Union seems to be possible in the framework of the European treaties. After the energy crisis in 2005 and 2009, the new Article 194 relates to the European Union’s push toward a harmonized common energy policy. The EC treaty has not previously established a EU competence on energy. The same procedure should be followed now in order to create an harmonized common health policy.
Amendment 63 #
2020/0102(COD)
Proposal for a regulation
Recital 10 b (new)
Recital 10 b (new)
(10b) Considering that an ambitious EU Health programme should remain also after Next Generation EU and after EU long term budget (2021-2027), it would be important to go further, towards an European Health Union. An European Health Union which can give the EU a far stronger role in the area of health by providing an European strategy, coordinated and inclusive response to public health needs. The EU needs a stronger leadership in the form of a European Health Union to reinforce our health systems and ensure that they can withstand health emergencies.
Amendment 76 #
2020/0102(COD)
Proposal for a regulation
Recital 30 a (new)
Recital 30 a (new)
(30a) Considering that an ambitious EU Health programme should remain also after Next Generation EU and after EU long term budget (2021-2027), it would be important to go further, towards an European Health Union. An European Health Union which can give the EU a far stronger role in the area of health by providing an European strategy, coordinated and inclusive response to public health needs. The EU needs a stronger leadership in the form of a European Health Union to reinforce our health systems and ensure that they can withstand health emergencies.
Amendment 101 #
2020/0006(COD)
Proposal for a regulation
Recital 18 a (new)
Recital 18 a (new)
(18a) The allocation method for resources of the JTF detailed in Annex I should ensure that the investments and actions previously made by Member States and regions to reduce greenhouse- gas emissions are duly recognised and taken into account. It is crucial that the EU continues to lead the way in a socially fair and just green transition for the implementation of the Paris Agreement and towards carbon-neutral economies providing tailored support for Member States and their regions that have already started to invest in the transition.
Amendment 217 #
2020/0006(COD)
Proposal for a regulation
Annex I – paragraph 1 – point c – introductory part
Annex I – paragraph 1 – point c – introductory part
(c) the Member State shares resulting from the application of point (b) are adjusted negatively or positively by a coefficient of 1.5 times of the difference by which that Member State's GNI per capita (measured in purchasing power parities) for the period 2015-2017 exceeds or falls below the average GNI per capita of the EU-27 Member States (average expressed as 100%) (weighting 75%) and by a coefficient of 1.5 times of the difference by which that the increase of Member State's share of renewable energy in gross final energy consumption between 2008 and 2018 falls or exceeds below the average reduction of greenhouse-gas missions of industrial facilities per capita of the EU-27 Member States (average expressed as 100%) (weighting 25%);
Amendment 4 #
2019/2211(INI)
Motion for a resolution
Citation 13
Citation 13
— having regard to the Commission communication of 21 Nov17 December 20189 entitled ‘Annual Sustainable Growth Strategy 2020’ (COM(2019)0650), and to the Commission’s Alert Mechanism Report 2020 of 17 December 2019 (COM(2019)0651),
Amendment 5 #
2019/2211(INI)
Motion for a resolution
Citation 16 a (new)
Citation 16 a (new)
- having regard to the European Investment Bank Report 2019/2020, "Accelerating Europe´s transformation"
Amendment 5 #
2019/2211(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Considers that the European Union needs a more sustainable growth model in order to respond to environmental, digital and demographic challenges; welcomes the European Green Deal as the new green growth strategy for Europe with sustainability, citizen well-being and fairness at its core as well as a socially just transition, that will respect the limitations of our natural resources and ensure job creation and lasting prosperity for the future;
Amendment 19 #
2019/2211(INI)
Motion for a resolution
Citation 25 a (new)
Citation 25 a (new)
- having regard to the Commission communication of 14 January 2020 on the Sustainable Europe Investment Plan (COM(2020) 21 final)
Amendment 20 #
2019/2211(INI)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. stresses the importance to swiftly adopt the European investment stabilisation function together with a European unemployment benefit reinsurance scheme, with a view to protecting citizens and reducing pressure on public finances during asymmetric shocks so as to overcome social and economic imbalances;
Amendment 21 #
2019/2211(INI)
Motion for a resolution
Citation 25 b (new)
Citation 25 b (new)
- having regard to the Proposal for a Regulation of the European Parliament and of the Council establishing the Just Transition Fund (COM(2020) 22 final)
Amendment 26 #
2019/2211(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Underlines the importance of the European Semester as an instrument to ensure macroeconomic policyies coordination with a shift in emphasis from macroeconomic stability to sustainable development; welcomes the increased focus on climate and environmental sustainability and on the implementation of the Sustainable Development Goals in the Country Reports;
Amendment 29 #
2019/2211(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Welcomes the new Commission’s commitment to revise the actual rules of the Stability and Growth Pact, which in an period of economic stagnation and underinvestment, are no longer appropriate; therefore, considers that additional flexibility is needed in order to boost growth, environmental and social public investments to counter the climate emergency and its social consequences;
Amendment 30 #
2019/2211(INI)
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Recalls, for instance, the importante role of the Cohesion Funds in the implementation of the SDGs, as well as the European Pilar of Social Rights, in the Member States;
Amendment 33 #
2019/2211(INI)
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. Reminds, as another example, the paramount effect of investments in research and development, as well as on skilling youth, in the Member States’ productivities, and stresses the paradox between this fact and the repetitive willingness from some Member States over the last years and for the next period, for a low ambition EU policy in this regards;
Amendment 42 #
2019/2211(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Stresses the importance of a properly funded EU budget in order to address common challenges and citizens’ expectations; recalls Parliament’s position demanding a strong and credible EU budget and an agreement on the reform of the EU’s own resources to give its consent; requests that the Commission adopt a more transparent, stringent, comprehensive methodology for climate and biodiversity mainstreaming, while involving Parliament in this process; including reformed performance indicators, for defining and tackling climate and biodiversity relevant expenditure, the prevention of financial support for harmful measures and the monitoring of the mid to long-term impact of climate mainstreaming for mitigation and adaptation, while involving Parliament in this process; recalls that the future EU budget should contribute to climate and biodiversity mainstreaming beyond levels of targeted spending shares through the integration of the climate and social dimensions in the decision-making of all major policies and throughout the entire policy cycle;
Amendment 48 #
2019/2211(INI)
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Considers that the transition to this new growth model requires a significant amount of investment and some of the instruments envisaged in the next MFF 2021-2027 can play an important role in supporting the green transition;
Amendment 52 #
2019/2211(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Considers that the Member States and regions have different starting points when it comes to the transition and the efforts already made shall not be neglected; considers that the Just Transition Mechanism should ensure an adequate, inclusive and fair transition for all affected by environmental and climate transformation towards a neutral carbon economy;
Amendment 56 #
2019/2211(INI)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Welcomes the initiative of the Commission to present a Sustainable Europe Investment Plan as a real catalyser to the necessary investments to deliver on the European Green Deal;
Amendment 57 #
2019/2211(INI)
Draft opinion
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Recalls the importance to complete the Economic and Monetary Union with a central fiscal capacity able to accommodate macro-economic shocks with instruments such as the European Unemployment Benefit Reinsurance Scheme and the European Investments Stabilisation Function; notes the proposals to create a Budgetary Instrument for Convergence and Competitiveness for the Euro area and a Reform Support Programme; considers that its governance structure should be subject to democratic control and fears that if this budgetary instrument is too small it risks not being macro- economically relevant;
Amendment 58 #
2019/2211(INI)
Draft opinion
Paragraph 6 c (new)
Paragraph 6 c (new)
6 c. Underlines the importance, for the budgetary resources of the EU and its Member States, of fighting tax evasion, tax avoidance and aggressive tax planning; recalls that investment in this fight brings back financing power to national budgets much more easily and systematically than any saving performed on the back of the EU budget; considers that digital technologies will impact the way value added is created in the economy and that the European taxation system should be reformed to cope with this transformation;
Amendment 59 #
2019/2211(INI)
Draft opinion
Paragraph 6 d (new)
Paragraph 6 d (new)
6 d. Considers that flexibility of the Stability and Growth Pact should be further revised to take into account Member States' efforts supporting, through public investment, a fair and inclusive transition towards a competitive green and digital economy; reiterates that, as a contribution to an investment and counter-cyclical budget, aligned with the Sustainable Development Goals, Member States’ contributions to EU budget and/or national co-financing of EU programmes should be excluded from the national deficits calculations;
Amendment 60 #
2019/2211(INI)
Draft opinion
Paragraph 6 e (new)
Paragraph 6 e (new)
6 e. Underlines that any taxation reform aiming at greening the national budgets must be conceived so as to avoid increasing the fiscal burden on the contributors;
Amendment 63 #
2019/2211(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Invites the Commission to continue to enhance the democratic accountability of the European Semester. and invites Member States to involve national parliaments, social partners and relevant stakeholders to collaborate more closely with the European Parliament in the context of the European Semester on the macroeconomic policy coordination;
Amendment 65 #
2019/2211(INI)
Motion for a resolution
Recital C
Recital C
C. having regard to the need for a European Climate Law with a legally binding goal of reaching net zero greenhouse gas emissions by 2050 at the latest and an intermediate target of at least 655 % for 2030;
Amendment 90 #
2019/2211(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes that, in view of the climate change emergencyenvironmental, digital and demographical challenges, the EU’s Annual Growth Survey (AGS) has now been renamed the Annual Sustainable Growth Survetrategy (ASGS), and consid to steers that this implies a change in the posie EU´s economic policy orientation ing of the report and the implementation of ecological indicatorsdirection of sustainable growth;
Amendment 100 #
2019/2211(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes the role of the European Green Deal as the EU’s new growth strategy defining ecological issueswith sustainability and the wellbeing of citizens as principal goalits fcor the Unione; notes, with regard to the scope of the European Semester, the inclusion of the SDGs and of the principles of the European Pillar of Social Rights (EPSR), which willmight require the adjustment of existing indicators and the creation of new ones to monitor the implementation of EU economic, environmental and social policies, as well as coherence between policy goals and budgetary means; notes the need to implemenreflect long-term planningconcerns in addition to short- term economic policy management to tackle climate change;
Amendment 104 #
2019/2211(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes the role of the European Green Deal as the EU’s new strategy defining ecological issues and the wellbeing of citizens as one of the principal goals for the Union; notes, with regard to the scope of the European Semester, the inclusion of the SDGs and of the principles of the European Pillar of Social Rights (EPSR), which willmight require the adjustment of existing indicators and the creation of new ones to monitor the implementation of EU economic, environmental and social policies, as well as coherence between policy goals and budgetary means; notes the need to implement long-term planning to tackle climate change;
Amendment 143 #
2019/2211(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Notes that long-term potential growth is affected by negative demographic situation, therefore demanding policies to overcome this situation and to foster productivity;
Amendment 151 #
2019/2211(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Considers that the transition to a new growth model requires significant amount of public and private investment; stresses the importance of a properly funded EU budget able to deliver on the common challenges committed and to meet citizens expectations; recalls the need to create the right conditions for private investment to accelerate the transformation and the importance to complete the Capital Markets Union to support long-term investment, including the one for the transitions, and foster higher-risk investment for young and innovative firms.
Amendment 164 #
2019/2211(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Endorses the conclusion of the European Fiscal Board (EFB) that the fiscal framework has not protected the quality of public expenditure, and welcomes the EFB’s proposal for a ‘golden rule’ to protect public investment; calls, therefore, for the reform of the Stability and Growth Pact and the introduction of a golden rule aimed at implementing sound fiscal policy on an equal footing with investment within the EU’s policy objto simplify the Stability and Growth Pact and make it more effectives; whereas this should cover the investment foreseen for the realisation of the Green Deal, the Digital Revolution, the SDGs and the EPSR Rights, including expenditure aimed at reducing poverty and inequality related to social protection, health services and long-term care, and education and trainingcalls, therefore, for a revision of the Stability and Growth Pact including an enabling framework to protect growth-enhancing public expenditure, while ensuring sound fiscal policy;
Amendment 215 #
2019/2211(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. States that climate policy must go hand-in-hand with supporting public and private investment in the EU and enhance industrial competitiveness of the EU economy as well as create further jobs;
Amendment 246 #
2019/2211(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Reiterates its call for a European stabilisation function and, namely through a tool to protect public investment or a European unemployment benefit reinsurance scheme, with a view to protecting citizens and reducing pressure on public finances during external shocks so as to overcome social and economic imbalances;
Amendment 282 #
2019/2211(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Recalls the importance of the efficient regulation of the banking and financial sectors in order to prevent a new crisis; believes that such regulation must integrate the ecological situation; emphasises the importance of completing the Banking Union, through the adoption of the Third Pillar of the Banking Union (EDIS), and the need to reform the European Stability Mechanism, as the backstop for the SRF;
Amendment 322 #
2019/2211(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls for the systematic inclusion of tax matters in the Country Specific Recommendations (CSRs), with the aim of ensuring economic coherence across EU Member States as well as the fairness of EU tax systems; believes that the CSRs could ensure a fair balance between sources of revenue and should also include innovative elements aiming at promoting the Green Deal; further believes that they should also support Member States in tackling tax avoidance and aggressive tax planning; calls for the swift adoption of own-resources legislation at European level, namely through the adoption of Digital Tax and Carbon Border Tax at the European level;
Amendment 330 #
2019/2211(INI)
17 a. Emphasizing that tax fraud has been a serious hit for the EU Member States' budgets, calls for decisive steps of the Commission and the Council to overcome the deadlock in the negotiations of the CC(C)TB and the public CbCR; Emphasizes a need for a clear common position of the EU for the international negotiations related to tax challenges arising from the digitalisation of the economy;
Amendment 353 #
2019/2211(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Notes that despite of the recovery in the European labour market, productivity growth has slowed and strong disparities persist. Noting that skills constraints are still one of the main obstacles to investment, considers that technological changes can have a significant impact on jobs and that a long term strategy to foster adaptative and inclusive systems for skills development is needed;
Amendment 354 #
2019/2211(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Notes that there are significant disparities in the Members States’ job market situations; highlights the important role of investment in promoting growth and job creation;
Amendment 361 #
2019/2211(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Emphasizing that youth unemployment is still a major issue in many EU Member States, underlines that the unemployment rate in the EU has been steadily falling; Takes note of AMR 2020’s finding that wage growth at euro area level remains below what would be expected at the current levels of unemployment on the basis of historical data, and that this affects the inflation rate; highlights that the currently low productivity and inflation together with structural reforms transferring collective bargaining to the enterprise level are detrimental to wage growth and are leading to greater income inequality and an increase in the numbers of working poor, with in-work poverty affecting almost one in ten workers in Europe; accordingly advocates wage growth;
Amendment 400 #
2019/2211(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Looks forward to the stronger involvement of the EP and the national parliaments in the European Semester process and to the creation of an institutionalised dialogue with the Commission, the social partners, territories and civil society, at both EU and national level, in order to further boost the process’s democratic legitimacy; Believes that streamlining the process and better communication on the European Semester could increase citizens' interest in the Commission's recommendations, intensify national ownership and - therefore - increase the willingness of EU Member States to commit to the reforms proposed by the Commission;
Amendment 48 #
2019/2130(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas the European banking sector still remains largely the main provider of financing to companies, in contrast with other jurisdictions, where capital markets account for a considerable share of financing to companies;
Amendment 59 #
2019/2130(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Notes that the full implementation of the Banking Union is necessary to deliver more financing to the economy – both to households and companies, specially SMEs –, promoting investment and job creation;
Amendment 72 #
2019/2130(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the support of the [incoming] President of the European Commission and the President of the ECB for the completion of the Banking Union and, more globally, the Economic and Monetary Union, through the creation of a fiscal capacity designed to provide the euro area with an adequate stabilisation function;
Amendment 75 #
2019/2130(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Stresses the importance of the agreement reached at the Eurogroup establishing a budgetary instrument for the euro-area with the goals of convergence and competitiveness - the Budgetary Instrument for Convergence and Competitiveness (BICC); however, underlines that this instrument is not designed to provide macroeconomic stabilisation and the expected resources are not sufficient to do so;
Amendment 93 #
2019/2130(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Notes, however, that the prospect of low profitability, an economic slowdown and geopolitical tensions as well as disruptive technologies, cyber risks and data security are among the major challenges the EU banking sector is facing;
Amendment 99 #
2019/2130(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Underlines the crucial role of the banking sector in channelling funding into sustainable investments and enabling the transition to a climate-neutral economy; calls further on all European banks to sign up the UN-led Principles for Responsible Banking and report annually on their efforts to sustainable financing and to reducing climate change-related risks in their balance sheets;
Amendment 105 #
2019/2130(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Underlines the importance of protecting consumer rights, namely regarding banking fees, the transparency of products costs, profitability and risks; calls, in this respect, on the European Banking Authority to devote more focus in fulfilling its mandate on properly collecting, analysing and reporting on consumer trends, and also on the review and coordination of financial literacy and education initiatives by the competent authorities;
Amendment 107 #
2019/2130(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Notes the relevance of non- financial institutions in the financial stability of the euro area by diversifying the sources of financing provided to the real economy; notably in long-term investment products to support the transition to a climate-neutral economy;
Amendment 120 #
2019/2130(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Restates the importance of a safe asset in the euro area as a way to help stabilise financial markets and, allow banks to reduce the exposure of their balance sheets to national sovereign debt and strengthen the international role of the euro; calls on the Commission to submit a legislative proposal for the creation of a true European safe asset;
Amendment 151 #
2019/2130(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that the ratio of non- performing loans (NPLs) held by significant institutions has fallen by more than half from the start of ECB banking supervision, in November 2014, to June 2019; underlines the need to protect customers’ rights in the context of NPL transactions and calls on Member States to put measures in place to ensure that borrowers, who might be in already vulnerable financial situations, are not subject to aggressive and unfair treatment and practices by poorly-regulated debt buyers and collectors;
Amendment 187 #
2019/2130(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes that innovative financial technologies are profoundly transforming the financial sector, including banking and payment services; highlights the need to address the challenges posed by these new technologies, such as ensuring sustainable business models, a level playing field in terms of regulation and supervision, and cybersecurity; underlines the financial institutions’ responsibility in ensuring clients’ data protection and security in accordance with EU law;
Amendment 201 #
2019/2130(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the agreement on the exchange of information between the ECB and the AML/CFT supervisors; recalls its serious concern about regulatory and supervisory fragmentation in the AML/CFT area, which is ill-suited to supervise the increasing cross-border activity in the EU; welcomes, in this regard, the Council Conclusions of 5 December 2019, which give a mandate to the Commission to explore ways of ensuring better cooperation between authorities and conferring AML tasks to a Union body, and to turn certain parts of the Anti-money Laundering Directive into a Regulation, to ensure a single rulebook; calls on the Commission to start working on the overhaul of the EU AML framework and legislation to effectively address the risks posed by cross-border illegal activity to the integrity of the EU financial system and the security of EU citizens;
Amendment 256 #
2019/2130(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that banks need to be able to operate across borders while managing their capital and liquidity at a consolidated level, in order to diversify their risks and address any lack of profitability; highlights that rules should allow for greater flexibility for the parent company in this regard, while specifying that, in the event of a crisis, the parent company should provide capital and liquidity to the subsidiary located in the host country; notes the importance of the convergence of liquidation rules among Member States;
Amendment 275 #
2019/2130(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Urges the completion of the Banking Union through the creation of a fully mutualised EDIS, to protect depositors against banking disruptions and to ensure confidence among depositors and investors across the Banking Union; welcomes the support of the [incoming] President of the Commission and the President of the ECB for the establishment of EDIS;
Amendment 5 #
2019/2126(INI)
Motion for a resolution
Citation 14 a (new)
Citation 14 a (new)
- having regard to the Commission communication on the Sustainable Investment Plan, European Green Deal Investment Plan,
Amendment 8 #
2019/2126(INI)
Motion for a resolution
Citation 14 b (new)
Citation 14 b (new)
- having regard to the Commission communication The European Green Deal,
Amendment 9 #
2019/2126(INI)
Motion for a resolution
Citation 14 c (new)
Citation 14 c (new)
- having regard to the Commission proposal for a Regulation establishing the Just Transition Fund,
Amendment 10 #
2019/2126(INI)
Motion for a resolution
Citation 14 d (new)
Citation 14 d (new)
- having regard to the report by the High-Level Group of Wise Persons on the European financial architecture for development,
Amendment 11 #
2019/2126(INI)
Motion for a resolution
Citation 14 e (new)
Citation 14 e (new)
- having regard to the Commission evaluation Decision No 466/2014/EU of the European Parliament and the Council of 16 April 2014 granting an EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union,
Amendment 13 #
2019/2126(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the main credit rating agencies have given EIB bonds a AAA rating due, inter alia, to the fact that it belongs to the Member States and to its prudent risk management; whereas the EIB should maintain its high credit rating, in order to be able to secure the most preferential financial conditions in the capital markets;
Amendment 15 #
2019/2126(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the EIB, being the world’s largest multilateral borrower and lender, and jointly owned by EU Member States, is the EU’s natural partner for the implementation of financial instruments, in close cooperation with national and multilateral financial institutions;
Amendment 16 #
2019/2126(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas the Green Deal is one of the key policies of EU; whereas the European Investment Bank (EIB) plays an important role in financing the shift to a carbon-neutral, sustainable economy;
Amendment 17 #
2019/2126(INI)
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. whereas the EIB Group is treaty- bound to contribute to EU integration, economic and social cohesion and regional development through various investment instruments such as loans, equities, guarantees, risk-sharing facilities and advisory services;
Amendment 18 #
2019/2126(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes the commitment by the Commission President-elect to turn sections of the EIB into a climate bank, and the commitments from the EIB President to increase the share of EIB financing for climate action and environmental sustainability to at least 50 % by 2025 and to align all EIB financing activities with the goals of the Paris Agreement by the end of 2020; calls on the EIB to devote remaining financing to address the technological transition, provide funds for long term research and innovation, SMEs, support the social economy and enhance social and territorial cohesion, namely by filling current investment gaps in public housing and infrastructure; calls on the Commission to present an ambitious new European Sustainable Investment Plan, including additional financial commitments, as soon as possible, and to fully support the EIB in its sustainability ambitions;
Amendment 18 #
2019/2126(INI)
Motion for a resolution
Recital E
Recital E
E. whereas the Commission estimates the annual investment needed to achieve the EU’s 2030 targets at EUR 1 115 billion2 ; whereas the Commission Sustainable Investment Plan aims to unlock EUR 1 trillion investment in the next decade; _________________ 2 European Commission, SWD(2016) 405 final/2 of 6.12.2016, table 22 (scenario EUCO30, source: Primes model).
Amendment 21 #
2019/2126(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas ensuring additionality of EIB lending is important for the EIB leverage of public investments and support to sectors and regions attracting less investment;
Amendment 23 #
2019/2126(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas continuous attention should be focused on the development of best practices related to the EIB Group's performance policy and management, governance and transparency;
Amendment 26 #
2019/2126(INI)
Draft opinion
Paragraph 2 c (new)
Paragraph 2 c (new)
2 c. Welcomes the decision taken by the Board of Directors of the EIB to end financing for most fossil fuel energy projects from the end of 2021 and to gradually increase the share of its financing dedicated to climate action and environmental sustainability, to reach 50 % of its operations as of 2025; highlights, that, in line with the EIB's future lending policy, exceptional financing for gas as transitional energy can be possible if it is used in combination with renewables, as a bridging technology to replace coal, where no other alternatives exist, when safeguards to avoid lock-in effects are put in place, and when steps are taken to ensure that the emissions trajectory remains in line with the goals of the Paris Agreement; stresses that financing for renewable energies has to be the priority;
Amendment 27 #
2019/2126(INI)
Motion for a resolution
Paragraph -1 (new)
Paragraph -1 (new)
-1. Notes the worsening world economic climate, where real GDP growth has slowed and global challenges are contributing to uncertainty; notes the weak levels of investment in the EU in the past decade; calls for more public and private investment in the EU at national, regional and local levels;
Amendment 28 #
2019/2126(INI)
Motion for a resolution
Paragraph -1 a (new)
Paragraph -1 a (new)
-1 a. Notes the EIB's investment report 2019-2020, which highlights the challenges that the EU is facing in terms of competitiveness, such as, rising inequalities and insufficient levels of investment, especially in climate related R&D and digitalisation, which threaten Europe's economic future; urges the EIB to do its utmost to address these issues in its activities;
Amendment 29 #
2019/2126(INI)
Motion for a resolution
Paragraph -1 b (new)
Paragraph -1 b (new)
-1 b. Welcomes the EIB Group's willingness to enhance EU competitiveness and provide support for growth and job creation, through support for innovation, SMEs, infrastructure, social cohesion and the climate and environment;
Amendment 30 #
2019/2126(INI)
Motion for a resolution
Paragraph -1 c (new)
Paragraph -1 c (new)
-1 c. Supports the plans for a Sustainable Investment Plan to help close the investment gap and finance the transition to a carbon-neutral economy and ensure a just transition across the EU; underlines that the plan should take account of the experiences of previous programmes (the ‘Juncker Plan’) and place a special emphasis on truly additional investments of European added value; calls for coordinated actions to tackle the investment gap across the EU, including through the EU budget, financing from the EIB and other financial institutions and EU programmes, for example through InvestEU;
Amendment 31 #
2019/2126(INI)
Motion for a resolution
Paragraph -1 d (new)
Paragraph -1 d (new)
-1 d. Considers that the EIB as the 'EU bank' incorporated and governed by the Treaties and the relevant Protocol annexed thereto, must live up to this unique status, which brings with it unique rights and responsibilities; notes that the role of the EIB in implementing EU policies is increasing with new responsibilities foreseen in the next MFF 2021-2027, for example in financing the Green Deal through involvement in InvestEU and the Just Transition Mechanism; underlines that increased responsibilities should mean increased accountability and external scrutiny, such as expanding the mandate of the Court of Auditors in assessing EIB activities, working closely with OLAF and EPPO, and increasing dialogue with the European Parliament;
Amendment 32 #
2019/2126(INI)
Motion for a resolution
Paragraph -1 e (new)
Paragraph -1 e (new)
-1 e. Calls on the EIB to prioritise support through its lending activities to the achievement of the UN Sustainable Development Goals;
Amendment 41 #
2019/2126(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Calls on the EIB to greatly strengthen the arrangements for providing technical assistance and, financial expertise and capacity-building to local and regional authorities before project approval, in order to improve accessibility and; calls on the EIB to involve all Member States, and address systemic shortcomings that prevent some regions or countries from taking full advantage of the EIB's financial activities; calls for intensified cooperation with national promotional banks and institutions;
Amendment 49 #
2019/2126(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Welcomes that the EIB in 2009- 2018 supported cohesion objectives within the EU for more than EUR 200 billion;
Amendment 50 #
2019/2126(INI)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. Considers that innovation and skills are fundamental elements for ensuring sustainable growth and creating high-quality jobs and driving long-term competitiveness. Welcomes that in 2018, the EIB supported innovation and skills with EUR 13.5 billion; expects continuing support by the EIB in innovation and skills;
Amendment 52 #
2019/2126(INI)
Motion for a resolution
Paragraph 3 c (new)
Paragraph 3 c (new)
3 c. Welcomes the EIB Group's Strategy on Gender Equality and the Gender Action Plan and looks forward to the Action Plan's second phase of implementation;
Amendment 53 #
2019/2126(INI)
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Recalls that EIB funding should provide additionality to projects that would otherwise not be financed and support projects in line with EU goals in areas where markets fail to invest, to provide long-term financing as well as to encourage investments especially in regions and sectors where it is most needed;
Amendment 53 #
2019/2126(INI)
Motion for a resolution
Paragraph 3 d (new)
Paragraph 3 d (new)
3 d. Considers that Europe needs to accelerate the adoption of digital technologies and investment in digital infrastructure and skills to stay competitive; calls on the EIB to address the technological transition with enhanced support for digitalisation;
Amendment 54 #
2019/2126(INI)
Draft opinion
Paragraph 4 c (new)
Paragraph 4 c (new)
4 c. Points out further that additionality of EIB financing also consists in providing technical advice and capacity-building in order to help projects to become investment-ready and ensure quick mobilization of resources, often faster than in the private sector;
Amendment 55 #
2019/2126(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Regards that social projects' evaluation criteria should take into account the principles of the European Pillar of Social Rights; underlines, in this context, the importance of carrying out ex-ante and ex-post evaluations on the sustainability, competitiveness and economic, social and environmental impacts of projects;
Amendment 58 #
2019/2126(INI)
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Welcomes the steps the EIB has taken so far; calls on the EIB to improve reporting and evaluation of actual results achieved and analysis of actual economic, social and environmental impacts of its investments;
Amendment 59 #
2019/2126(INI)
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4 c. Recalls that EIB funding should provide additionality to projects that would otherwise not be financed and support projects in line with EU goals in areas where markets fail to invest, to provide long-term financing as well as to encourage investments especially in regions and sectors where it is most needed;
Amendment 60 #
2019/2126(INI)
Motion for a resolution
Paragraph 4 d (new)
Paragraph 4 d (new)
4 d. Calls on the EIB to follow up on the conclusions of the Court of Auditors special report 03/2019, which assessed whether EFSI was effective in raising finance to support additional investments within the whole EU; notes that the report concluded that some EFSI operations simply replaced other EIB operations and that part of the finance went to projects that could have used other sources of public or private finance, and in some cases, overstated the extent to which EFSI support actually induced additional investments;
Amendment 63 #
2019/2126(INI)
Motion for a resolution
Paragraph 4 g (new)
Paragraph 4 g (new)
4 g. Calls for the EIB to ensure good coordination, coherence and consistency between EU policies, funding instruments and investments, with a view to avoiding overlaps and enhancing synergies of their funding;
Amendment 64 #
Amendment 66 #
2019/2126(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Welcomes the decisions taken on 14 November 2019 by the EIB’s Management Board to align the EIB’s policies with the goal of limiting global warming to a maximum of 1.5°C above pre-industrial levels; welcomes the new energy lending policy and the new strategy for climate action and environmental sustainability adopted as a positive contribution towards the achievement of the European Green Deal; welcomes the fact that the EIB is to be transformed into the EU’s new Climate Bank with 50 % of its operations to be dedicated to climate action and environmental sustainability by 2025, with an end to its support for fossil fuel projects by 2021, and with all its financing activities aligned with the principles and goals of the Paris Agreement by 2020;
Amendment 75 #
2019/2126(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls for a detailed roadmap to be drawn up in 2020 to reach the overall target of 50% climate lending by 2025, as well as guarantees regarding the climate neutrality of the remaining loans, following an open and transparent public consultation process, and without compromising on other priorities, such as cohesion and competitiveness of the EU;
Amendment 79 #
2019/2126(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Calls for a strengthening of the eligibility criteria for climate action in order to avert the risk of investments not resulting in significant reductions in greenhouse gases (GHG), in particular with regard to bioenergy, low-carbon gases, carbon capture and storage and compensation programmes by ensuring coherence with relevant EU legislation and aligning EIB activities with the new taxonomy framework; considers that a general anti-abuse provision should support all EIB operations and be included in its declaration on environmental and social standards, which needs to be reviewed in 2020 and aligned with the 1.5°C global warming objective;
Amendment 82 #
2019/2126(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 96 #
2019/2126(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. INotes the decision by the EIB in 2013 to end support to the coal sector; is of the opinion that, in line with best practices in the commercial banking sector3 , EIB financing should be subject to ambitious scientific objectives and commitments, with a view to phasing out its support to clients whose activitiesprojects which lead to significant GHG emissions; _________________ 3 Crédit Agricole has undertaken to end support for undertakings which develop or plan to develop their activities in the coal sector. Crédit Agricole’s zero tolerance policy applies to all enterprises which develop or plan to develop their activities in the coal sector, ranging from extraction and energy production, to trade and transport.
Amendment 115 #
2019/2126(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls for rigorous policies to be implemented in carbon-intensive industrial sectors in which the EIB is active, such as cement, petrochemicals and steel, with a view to phasing out all ‘brown’ loans and aligning all sectoral loans, focusing on the promotion of a circular economyfocusing on the promotion of a circular economy, and with a view to aligning all sectoral loans to achieving climate neutrality by 2050, at the latest;
Amendment 117 #
2019/2126(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Reminds the EIB that biodiversity protection is a key element of adaptation to climate change and that the restoration of ecosystems is the only proven technology when it comes to negative emissions; calls on the EIB to include biodiversity- proofing components in their financial instruments in order to avoid adverse effects on biodiversity; invites the EIB to update its environmental and social standards; calls on the EIB to commit to ending the financing of projects which contribute to the loss and degradation of biodiversity and ecosystems, and to increase substantially its funding to achieve the EU’s objectives in this area, in particular the objective of zero net deforestation and the objectives of marine and coastal protection;
Amendment 123 #
2019/2126(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Urges the EIB and Member States to ensure a just transition towards a climate neutral economy; encourages the EIB to play an active role in supporting projects that contribute to a just transition, such as research, innovation and digitalisation, SMEs’ access to finance, and social investment and skills; calls for the EIB investment policy to provide targeted financing for European Green Deal initiatives as a matter of priority, while taking into account the additionality that EIB financing can provide in combination with other sources; stresses that coordination with other financing instruments is crucial given that the EIB alone cannot finance all of the European Green Deal initiatives;
Amendment 125 #
2019/2126(INI)
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19 b. Stresses the need for an anticipatory and participatory approach to ensure that all parts of society benefit from the transition; calls for support to regions, such as coal mining regions and carbon intensive regions, communities and workforces of sectors most affected by decarbonisation, also fostering the development of new joint projects and technologies for and with those communities and regions;
Amendment 128 #
2019/2126(INI)
Motion for a resolution
Paragraph 19 c (new)
Paragraph 19 c (new)
19 c. Considers that for the EIB to become the EU's climate bank and play a role in the just transition, it needs to advance mechanisms to better incorporate the input from various stakeholders, such as local and regional authorities, trade unions, NGOs and relevant experts in its investment strategy;
Amendment 129 #
2019/2126(INI)
Motion for a resolution
Paragraph 19 d (new)
Paragraph 19 d (new)
19 d. Notes that the EIB was a pioneer in launching the successful green bonds, which have raised more than EUR 23 billion over 11 years, with the global green bond market now worth more than EUR 400 billion; notes that a major challenge has been to set common standards so as to avoid green-washing; welcomes the EIB's new Sustainability Awareness Bonds, launched in 2018, designed to support investment in the UN Sustainable Development Goals; underlines the importance of setting common standards regarding these new bonds to ensure that projects are transparent, verifiable and measurable;
Amendment 131 #
2019/2126(INI)
Motion for a resolution
Paragraph 19 e (new)
Paragraph 19 e (new)
19 e. Notes that as the associated risks tend to be higher, sustainable investments normally have higher yields than standard ones and volumes therefore tend to be subdued; considers that the liquidity of sustainable financial products' markets must be deepened and this can only be done by increasing the number of products on the market; highlights that the private sector alone cannot be expected to reach the critical mass and the public sector must be more present in the sustainable financial assets' markets and increase its market share hence allowing for lower risks, lower yields, higher market participation and higher liquidity; calls on the EIB to further help develop the green bonds market, using the forthcoming EU taxonomy framework for sustainable financing;
Amendment 133 #
2019/2126(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Welcomes the strong financial support of the EIB for SMEs with a total investment, in 2018, of EUR 23.27 billion, which has benefitted 374 000 companies employing 5 million people;
Amendment 137 #
2019/2126(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Considers that, given the strategic role of SMEs, the EIB should continue its financial support and reinforce its administrative and advisory capacities to provide information and technical support to SMEs with a view to facilitating their access to finance; considers that financing directed to innovative enterprises is especially needed;
Amendment 144 #
2019/2126(INI)
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22 a. Suggests that the EIB further green its SME portfolio, for example, by earmarking higher shares to greener projects and by providing support to intermediary banks for setting up products that incentivise energy efficiency or renewable energy investments;
Amendment 147 #
2019/2126(INI)
Motion for a resolution
Paragraph 22 b (new)
Paragraph 22 b (new)
22 b. Suggests that the EIB support SME digitalisation to close the digital divide, which is growing between larger and younger firms and smaller and older firms in Europe;
Amendment 149 #
2019/2126(INI)
Motion for a resolution
Subheading 4
Subheading 4
Amendment 158 #
2019/2126(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Urges the EIB, the largest multilateral lender in the world, to maintain its leading role in future EU financing mechanisms for third countries; opposnotes the recent initiatives to encourage the EIB to be more active in defence and security, migration management and border control;
Amendment 160 #
2019/2126(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23 a. Notes that around 10% of EIB lending goes to external countries; notes that most support is allocated in Upper Middle Income Countries with only a few operations financed by the EIB in the Least Developed Countries;
Amendment 161 #
2019/2126(INI)
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23 b. Notes the recent statements by the EIB President Werner Hoyer on the EIB's focus on development; notes that the EIB has proposed a dedicated development subsidiary, the European Bank for Sustainable Development;
Amendment 162 #
2019/2126(INI)
Motion for a resolution
Paragraph 23 c (new)
Paragraph 23 c (new)
Amendment 163 #
2019/2126(INI)
Motion for a resolution
Paragraph 23 d (new)
Paragraph 23 d (new)
23 d. Encourages the EIB to improve its expertise on development projects, particularly projects involving direct loans to the private sector;
Amendment 164 #
2019/2126(INI)
Motion for a resolution
Paragraph 23 e (new)
Paragraph 23 e (new)
23 e. Encourages the EIB to enhance local cooperation, including before and during the implementation of projects, and to improve cooperation with EU delegations;
Amendment 165 #
2019/2126(INI)
23 f. Considers that the EIB should enhance monitoring of projects and improve reporting and evaluation of actual results achieved and analysis of actual economic, social and environmental impacts; suggests therefore an increase of numbers of its local staff in partner countries;
Amendment 166 #
2019/2126(INI)
Motion for a resolution
Paragraph 23 g (new)
Paragraph 23 g (new)
23 g. Notes that climate related financing signed in 2014-2018 is above the ELM target of 25%;
Amendment 167 #
2019/2126(INI)
Motion for a resolution
Paragraph 23 h (new)
Paragraph 23 h (new)
23 h. Asks the EIB to make full use of contractual clauses enabling it to suspend disbursements in cases of projects' non- compliance with environmental, social, human rights, tax and transparency standards;
Amendment 174 #
2019/2126(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Urges the EIB to adopt a comprehensive and coherent human rights strategy, which, in the context of the forthcoming revision of its environmental social standards policy, to strengthen human rights principles, includesing the risk of reprisals against human rights defenders; recommends that this strategy include thee revised policy considers systematic assessment of human rights risks, including an ex-ante evaluation, and continuous monitoring on the ground; calls on the EIB to include in its contracts clauses allowing for the suspension of disbursements in the case of serious violations of human rights or environmental and social standards;
Amendment 193 #
2019/2126(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Asks the EIB, whilst respecting applicable EU legislation, to publish all information relating to direct loans subject to the approval of the Management Board, including by publishing for each project the opinion of the Commission and that of the Member State in which the project is located;
Amendment 203 #
2019/2126(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Calls for the regulatory framework governing the EIB’s duty of care obligations to be revised, in particular to strengthen the contractual terms with its clients, for example, regarding fraud and corruption;
Amendment 205 #
2019/2126(INI)
Motion for a resolution
Paragraph 33 a (new)
Paragraph 33 a (new)
33 a. Calls on the EIB to strengthen its anti-fraud and anti-corruption policies and ensure adequate resources to better protect EU financial interests;
Amendment 206 #
2019/2126(INI)
33 b. Calls on the EIB to step up its due diligence obligations in line with the EU Anti-Money Laundering legislation, and provide a complete regulatory framework to allow the Bank to effectively prevent involvement in illegal activity and ensure a proper sanctioning regime for failure to comply with EU law;
Amendment 217 #
2019/2126(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. Calls foron the Commission, the European Court of Auditors to be fully empowered to audit all EIB operations(ECA) and the EIB to enhance the role of the ECA, in the upcoming renewal of the tripartite Agreement governing the rules of engagement; calls for the ECA to be fully empowered to audit all EIB operations, including evaluating the cost-effectiveness of he EIB's investment efforts and the additionality of its projects, and for it to draw up an annual report on the results of its external lending activities;
Amendment 1 #
2019/2110(INI)
Motion for a resolution
Citation 24 a (new)
Citation 24 a (new)
- having regard to the Interinstitutional Proclamation on the European Pillar of Social Rights on the 17th November 2017 in Gothenburg,
Amendment 2 #
2019/2110(INI)
Motion for a resolution
Citation 24 b (new)
Citation 24 b (new)
- having regards to the report of the European Parliament on financial crimes, tax evasion and adopted on 26 March 2019 (2018/2121(INI)),
Amendment 3 #
2019/2110(INI)
Motion for a resolution
Citation 24 c (new)
Citation 24 c (new)
- having regards to the Paris Agreements on climate changes in 2015 and the UN 2030 climate and energy framework,
Amendment 5 #
2019/2110(INI)
Motion for a resolution
Citation 24 d (new)
Citation 24 d (new)
- having regards to UN Agenda 2030 and the SDGs,
Amendment 6 #
2019/2110(INI)
Motion for a resolution
Recital A
Recital A
A. whereas according to the Commission’s forecasts, the GDP growth rate for 2019 stands at 1.2 % of GDP per capita in the euro area and 1.4 % in the EU28, and is expected to rise to 1.4 % and 1.6 % respectively in 202010, based on the assumption of a status quo in terms of trading patterns between the EU27 and the UK and notwithstanding the mainly negative risks to the global economic outlook; whereas the economic recovery is uneven across the EU; whereas further policy action will nonetheless be required to address unresolved legacies of the global economic crisis; whereas globalisation has not brought the same benefits for all, leading to persistent high levels of income inequality and slow reduction of poverty, needing new efforts to ensure growth and equity; ____________________ 10 Commission’sEuropean Economic Forecast – Summer 2019 (Interim) of 10 July 2019
Amendment 12 #
2019/2110(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas annual revenue losses caused by aggressive corporate tax planning in the EU ranges from EUR 50- 70 billion to EUR 160-190 billion depending on the methodology;
Amendment 13 #
2019/2110(INI)
Motion for a resolution
Recital C b (new)
Recital C b (new)
Cb. whereas latest estimates of tax evasion within the EU point to a figure of approximately EUR 825 billion per year;
Amendment 14 #
2019/2110(INI)
Motion for a resolution
Recital C c (new)
Recital C c (new)
Cc. whereas nominal corporate tax rates have decreased at EU level from an average of 32 % in 2000 to 21,9 % in 201810a, which represents a decrease of 32 %; ____________________ 10aTaxation Trends in the European Union, Table 3: Top statutory corporate income tax rates (including surcharges), 1995-2018, European Commission, 2018.
Amendment 15 #
2019/2110(INI)
Motion for a resolution
Recital C d (new)
Recital C d (new)
Cd. whereas some assessments of effective tax rates in the EU diverge from 2,2 % to 30 %10b; ____________________ 10bPublic hearing of 24 January 2019 on ‘The Evaluation of the Tax Gap’.
Amendment 16 #
2019/2110(INI)
Ce. whereas despite a small decline in poverty, 113 million remain at risk, far short of the Europe 2020 target, with large imbalances between member states with more than a 1/3 of population in BG, RO and EL and growing in-work poverty (9.6 %);
Amendment 19 #
2019/2110(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the general government deficit is expected to rise from 0.5 % to 0.9 % in the euro area and from 0.6 % to 1.0 % in the EU28 in 2019, and to remain at that level in 2020; whereas the debt-to- GDP ratio in 2019 stands at 85.8 % in the euro area and 80.2 % in the EU28 and is forecast to decrease to 84.3 % and 78.8 % respectively in 2020; whereas some Member States record high current account surpluses and European macro- economic imbalances are still large;
Amendment 22 #
2019/2110(INI)
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas, according to Eurostat and Word Inequality Database, inequality of income distribution in the euro area has increased since the beginning of the financial crisis; whereas tax competition between European states, continually increased, which has undermined the progressivity of taxes increasing the unfair tax burden and undermining public finances;
Amendment 23 #
2019/2110(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
Eb. whereas the incomes of the richest 1% jumped twice as fast as the average and captured a share of growth similar to those captured by the bottom 50%; In 2017, the richest 20% in the EU earned over 5 x the poorest 20%;
Amendment 26 #
2019/2110(INI)
Motion for a resolution
Recital F
Recital F
F. whereas, in the light of the risks of trade tensions between the US and the China alongside the persistent uncertainty related to the withdrawal of the UK from the EU, the global outlook risks bending towards the downside; not to mention the risks of recession and crisis in Germany and the situation in Italy;
Amendment 28 #
2019/2110(INI)
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas tax optimization, tax evasion and tax avoidance for the benefit of some large companies and individuals have resulted in billions of euros in lost revenue for public finance management in several Member States at the expense of SMEs and other taxpayers; contributing to increasing inequality and imbalances;
Amendment 32 #
2019/2110(INI)
Motion for a resolution
Recital F b (new)
Recital F b (new)
Fb. whereas the current European Semester is not designed to drive the necessary economic, social and environmental transformations the EU and its Member States are committed to, within the Commission’s 2030 climate target, the UN SDGs and the Paris Agreement;
Amendment 34 #
2019/2110(INI)
Fc. whereas the implementation of the UN SDGs and the Paris Agreement goals requires a comprehensive, broad and long-term EU strategy in which a reformed European Semester needs to be embedded;
Amendment 35 #
2019/2110(INI)
Motion for a resolution
Recital F d (new)
Recital F d (new)
Fd. whereas global CO2 emissions have increased by 55% in 20 years; whereas human activities have altered 75% of the terrestrial environment and 66% of the marine environment; whereas 1 million plant and animal species are threatened with extinction; considering that the value of agricultural production has increased four-fold since 1970; whereas almost half of coral reef cover has disappeared since the 1870s;
Amendment 36 #
2019/2110(INI)
Motion for a resolution
Recital F e (new)
Recital F e (new)
Fe. whereas gaps and labour market segregation remain high throughout the European Union, contributing to gender differences in pay, pensions, decision- making and wealth;
Amendment 48 #
2019/2110(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Agrees that effectiEmphasizes a low level of public inve structural reforms, accompanied by well-targetedment and a lack of ambitious and socially balanced reforms in some Member States, therefore well-targeted investments and social inclusive and sustainable investments and responsible fiscal policies, continue to provide a successful compass for preparing the EU for its future and present challenges;
Amendment 57 #
2019/2110(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Recalls the importance of efficient regulation of banking and financial sectors to prevent a new crisis especially in the matter of shadow banking;
Amendment 58 #
2019/2110(INI)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Highlights, that in order to achieve the implementation of the Commission’s 2030 climate target, it is of importance to transform the European Semester into a tool of boosting social inclusive and sustainable investments and introduce a multi-annual sustainability pact, based on the UN SDGs and underpinned by the European Pillar Social Rights;
Amendment 59 #
2019/2110(INI)
Motion for a resolution
Paragraph 3 c (new)
Paragraph 3 c (new)
3c. Calls on the Commission, to enlarge the reference indicators of the European Semester by including social and environmental indicators to be able to take into account the sustainability impact of reforms and fiscal consolidation;
Amendment 71 #
2019/2110(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recognises that the average level of debt-to-GDP is projected to decline; notes, however, that the average level still remains significantly above the level required by the Stability and Growth Pact; points out the possibility of rising debt service costs; underlines, therefore, the importance of bringing down overall debt levels, in line with EU fiscal rulescluding private debt;
Amendment 72 #
2019/2110(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a Supports flexibility in the implementation of the Stability and Growth Pact as proposed by the Commission in 2015; considers that much more flexibility should be set up to boost investments and ecological transition in the EU; calls, therefore, to reform the Stability and Growth Pact and introduce a Euro area fiscal instrument;
Amendment 104 #
2019/2110(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Highlights, the importance of socially-balanced and countercyclical fiscal policies for macro-economic stabilisation and as a tool to prevent excessive swings in the financial cycle, in order to make the economy more resilient to disruptions, flanked by socially and environmentally sustainable structural policies and reforms;
Amendment 123 #
2019/2110(INI)
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Reminds, that one of the core policy areas of the European Semester and a prerequisite of sustained economic well-being is financial stability; therefore it is essential to ensure that financial institutions are better regulated and supervised both in the Eurozone and all over the EU, that banks are better capitalised and risks better controlled.
Amendment 139 #
2019/2110(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Calls on the Member States to set in place proper policies to ensure equal access to education, and to provide investment to ensure equal access to lifelong education and training and to close the gender gap;
Amendment 141 #
2019/2110(INI)
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Is concerned about the extent women are affected by austerity policies, and feminization of poverty; notes that the financial and economic crisis since 2008 hit men harder initially; underlines however, that women were affected more strongly in the long run through cuts in public spending, decreases in generosity in work-life balance policies, failure to close gender and pension pay gap and cutbacks in social security systems;
Amendment 142 #
2019/2110(INI)
Motion for a resolution
Paragraph 10 c (new)
Paragraph 10 c (new)
10c. Reminds that all EU countries would benefit from increased fiscal capacity and notes that additional resources can be found through a willing and effective policy against tax fraud and tax avoidance including support for an EU Financial Transactions Tax;
Amendment 156 #
2019/2110(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Welcomes the on-going international negotiations on tax and digitalisation, and in particular, welcomes the Programme of Work to Develop a Consensus Solution to the Tax Challenges Arising from the Digitalisation of the Economy (Programme of Work) as proposed by the Inclusive Framework and the OECD and endorsed by G20 Finance Ministers last June;
Amendment 162 #
2019/2110(INI)
Motion for a resolution
Paragraph 11 b (new)
Paragraph 11 b (new)
11b. Remains concerned about the implications of tax competition within the EU and with third countries on the sustainability of tax systems and tax collection, as well as consequences on fiscal capacity and fair competition in the EU Internal Market;
Amendment 166 #
2019/2110(INI)
Motion for a resolution
Paragraph 11 d (new)
Paragraph 11 d (new)
11d. Invites the Commission and the Council to look for new resources that would both allow to speed up the needed ecological transition and create fiscal capacity to finance needed social and sustainable investment [including investments in healthcare, education]; welcomes the announcement of the Commission President to propose a Carbon Border Tax and to review the Energy Taxation Directive;
Amendment 169 #
2019/2110(INI)
Motion for a resolution
Paragraph 11 e (new)
Paragraph 11 e (new)
11e. Highlights the fact that, in the recent period, real wage growth has lagged behind productivity growth, while improvements have occurred in the labour market; stresses, against this background, the room for wage increases in certain sectors and areas, to ensure good standards of living, taking into account the need to tackle poverty, including growing in-work, inequalities and boost growth;
Amendment 177 #
2019/2110(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Agrees that the economic upswing needs to be supported by public and private investment, particularly in innovationvestment for convergence such as social investment, in innovation and digital infrastructure and to support the transition to a neutral carbon economy, and notes that there is still an investment gap in the euro area; welcomes the fact that in some Member States investments already exceed the pre- crisis level, and regrets that in others investment is still lagging behind or is not picking up at the necessary speed;
Amendment 188 #
2019/2110(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Emphasises, in the context of the decline of public investment resulting from fiscal adjustment processes, the improvement of the functioning of the Stability and Growth Pact; Therefore calls on the Commission to strengthen the flexibility element in the Stability and Growth Pact to exclude public investment (namely social and ecological transition investment), national contributions to the Multiannual Financial Framework, and EU Funds co-financing from the calculation of national public deficit;
Amendment 210 #
2019/2110(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Underlines that investment in tangibles and intangibles in order to increase productivity, skills and innovation, along with the growth-enhancing socially- balanced structural reforms, will increase long-term growth potential;
Amendment 211 #
2019/2110(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Stresses that the support for the transition towards a low-carbon and circular economy will create new jobs in services and in the development of new and more sustainable products and markets; stresses that investments to foster such a transition should be significantly increased at both national and EU levels;
Amendment 217 #
2019/2110(INI)
Motion for a resolution
Paragraph 14 d (new)
Paragraph 14 d (new)
14d. Recalls that the fight against aggressive tax planning strategies is essential to provide fair treatment of taxpayers, safeguard public finances, and preserve social cohesion and fight inequalities;
Amendment 218 #
2019/2110(INI)
Motion for a resolution
Paragraph 14 e (new)
Paragraph 14 e (new)
14e. Insists on the need to implement an ambitious pCBCR and CCCTB;
Amendment 219 #
2019/2110(INI)
Motion for a resolution
Paragraph 14 f (new)
Paragraph 14 f (new)
14f. Recalls the need to implement the recommendations of the special committee TAXE 3; stresses that the complexity of tax systems can give rise to legal loopholes facilitating tax fraud schemes such as cum-ex;
Amendment 223 #
2019/2110(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Agrees withNotes the Council’s recommendations thabut Member States should also increase their growth potential by modernising their economies and strengthening their resiliencepublic investments especially in ecological transition and social investment;
Amendment 225 #
2019/2110(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Highlights that improvements on how the European Semester operates will imply a change in the way Country Specific Recommendations are elaborated, decided and applied; considers that the policy outcome should reach beyond the current conception of structural reforms and fiscal consolidations measures, towards socially and environmentally sustainable reforms capable of driving the necessary economic, social and environmental transformations in favour of well-being for all through sustainable growth, inclusiveness and cohesion, and quality job creation;
Amendment 237 #
2019/2110(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Insists on the need for the CSR to take due account of the 20 key principles and rights to support fair and well- functioning labour markets outlined in the European Pillar of Social Rights, which should serve as a compass for a renewed process of upward convergence towards better working and living conditions in the European Union;
Amendment 241 #
2019/2110(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16b. Recalls the need of stronger surveillance of the employment and social situation in Europe and appropriate and constant follow up at every step of the European Semester to boost quality jobs creation and accordingly achieving smart, sustainable;
Amendment 242 #
2019/2110(INI)
Motion for a resolution
Paragraph 16 c (new)
Paragraph 16 c (new)
16c. Shares the Commission's concerns over developments in the housing market in some Member States; stresses that rising interest rates and housing prices are affecting households' private debt; underlines that this debt plays a role in the stability of the euro area; calls on the Commission to take initiatives in this area in line with recommendation 19 of the Social Pillar;
Amendment 243 #
2019/2110(INI)
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16b. Recalls the need of stronger surveillance of the employment and social situation in Europe and appropriate and constant follow up at every step of the European Semester to boost quality jobs creation and accordingly achieving smart, sustainable;
Amendment 251 #
2019/2110(INI)
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17b. Supports recommendation that invite Member States to ensure a greater stability and fairness of their fiscal capacity and tax collection, such as limiting the scope and number of tax expenditures and broadening the tax base; invites the Commission and the Council to better look at the impact of progressivity of tax systems in that regard;
Amendment 258 #
2019/2110(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Reminds Member States of the importance of committing to and delivering on the CSRs; reminds Commission to continue the efforts for a higher implementation and ownership;
Amendment 11 #
2019/0161(COD)
Proposal for a regulation
Recital 2
Recital 2
(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies through targeted structural reforms and investment. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States carry out structural reforms and investment in a consistent, coherent and well- coordinated manner, it is necessary to establish a governance framework to enable the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States. Such a framework would enhance convergence and competitiveness of the euro area. The Council should also provide country- specific guidance on individual reforms and investment objectives of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulation.
Amendment 17 #
2019/0161(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) At the Union level, the European Semester of economic policy coordination is the framework for the identification of national reform priorities of the Member States and for the monitoring of the implementation of those priorities. This Regulation addresses the need to establish coherence between the reform and investment priorities for the euro area as a whole and the reform and investment objectives of the individual Member States whose currency is the euro, and to ensure their consistency with the European Semester.
Amendment 22 #
2019/0161(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) On an annual basis, the Council should set out strategic orientations on the reform and investment priorities for the euro area, as part of the recommendation on the economic policy of the euro area. The strategic orientations should be adopted by the Council acting by qualified majority on a recommendation from the Commission, and after the Eurogroup has discussed. The Euro Summit, and the Euro group as a preparatory body of the Euro Summit, should have a general discussion on the strategic orientations on the reforms and investment priorities that it considers relevant and appropriate for inclusion therein. The annual Euro Summit will play its rolefor the euro area before the presentation of the recommendation by the Commission on the euro area recommendations.
Amendment 27 #
2019/0161(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate,he package of reforms and investment should be present alongside within the relevant Treaty- based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9 . _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1)National Reform Programme.
Amendment 32 #
2019/0161(COD)
Proposal for a regulation
Recital 7
Recital 7
Amendment 34 #
2019/0161(COD)
Proposal for a regulation
Recital 2
Recital 2
(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies through targeted structural reforms and investment. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States carry out structural reforms and investment in a consistent, coherent and well- coordinated manner, it is necessary to establish a governance framework to enable the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States. Such a framework would enhance convergence and competitiveness of the euro area. The Council should also provide country- specific guidance on individual reforms and investment objectives of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulation.
Amendment 37 #
2019/0161(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) Within the governance framework set out in this Regulation, the Council should set out the strategic orientations for the euro area as a whole and provide country-specific guidance on the objectives ofon reforms and investment packages of the individual Member States whose currency isriorities for the euro area. The Commission implements the Union’s budget under Article 317 TFEU, which includes the management of spending programmes. The Commission responsibilities with regard to the budgetary instrument for convergence and competitiveness [within the Reform Support Programme] under Regulation (EU) XXXX/XX should not be affected.
Amendment 42 #
2019/0161(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament can, before the Commission presents its recommendations for the euro area, may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee tofor a discuss the measures takion on the strategic orientations on the reform and investment pursuant to this Regulationriorities of the euro area.
Amendment 45 #
2019/0161(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
Amendment 48 #
2019/0161(COD)
Proposal for a regulation
Article 3 – paragraph 1 – introductory part
Article 3 – paragraph 1 – introductory part
This Regulation shall contribute to the upward convergence and competitiveness of the economies of the Member States whose currency is the euro by defining a governance framework relevant for the budgetary instrument for convergence and competitiveness, which sets out:
Amendment 52 #
2019/0161(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point b
Article 3 – paragraph 1 – point b
Amendment 54 #
2019/0161(COD)
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
1. On a recommendation from the Commission and after discussion in the Eurogroup, the Council shall establish, as part of the euro-area recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area. Prior to the presentation on a recommendation from the Commission, there should be a discussion at the Euro Summit on the relevant strategic priorities.
Amendment 57 #
2019/0161(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) On an annual basis, the Council should set out strategic orientations on the reform and investment priorities for the euro area, as part of the recommendation on the economic policy of the euro area. The strategic orientations should be adopted by the Council acting by qualified majority on a recommendation from the Commission, and after the Eurogroup has discussed the reforms and investment priorities that it considers relevant and appropriate for inclusion therein. The annual Euro Summit will play its role. The Euro Summit, the Eurogroup has a preparatory body of the Euro Summit, and the competent committee of the European Parliament should have a general discussion on the strategic orientations on the reforms and investment priorities for the euro area before the presentation of the euro area recommendations by the Commission.
Amendment 60 #
2019/0161(COD)
Proposal for a regulation
Article 5
Article 5
Amendment 66 #
2019/0161(COD)
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament, before the Commission presents the euro area recommendations, may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures taken pursuant to this Regulationstrategic priorities of economic policies in the euro area that contribute to the convergence and competitiveness of the economies in the euro area.
Amendment 70 #
2019/0161(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate, within the relevant Treaty- based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9 . _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1)he package of reforms and investment should be present alongside with National Reform Programme.
Amendment 76 #
2019/0161(COD)
Proposal for a regulation
Recital 7
Recital 7
Amendment 83 #
2019/0161(COD)
Proposal for a regulation
Recital 8
Recital 8
(8) Within the governance framework set out in this Regulation, the Council should set out the strategic orientations for the euro area as a whole and provide country-specific guidance on the objectives ofon reforms and investment packages of the individual Member States whose currency is the euros for the euro area. The Commission implements the Union’s budget under Article 317 TFEU, which includes the management of spending programmes. The Commission responsibilities with regard to the budgetary instrument for convergence and competitiveness [within the Reform Support Programme] under Regulation (EU) XXXX/XX should not be affected.
Amendment 93 #
2019/0161(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament can, before the Commission presents its recommendations for the euro area, may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee tofor a discuss the measures takion on the strategic orientations on the reform and investment pursuant to this Regulationriorities of the euro area.
Amendment 104 #
2019/0161(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
Amendment 117 #
2019/0161(COD)
Proposal for a regulation
Article 3 – paragraph 1 – introductory part
Article 3 – paragraph 1 – introductory part
This Regulation shall contribute to the upward convergence and competitiveness of the economies of the Member States whose currency is the euro by defining a governance framework relevant for the budgetary instrument for convergence and competitiveness, which sets out:
Amendment 123 #
2019/0161(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point b
Article 3 – paragraph 1 – point b
Amendment 136 #
2019/0161(COD)
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
1. On a recommendation from the Commission and after discussion in the Eurogroup, the Council shall establish, as part of the euro-area recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area. Prior to the presentation on the recommendations from the Commission, there should be a discussion at the Euro Summit and at the competent committee of the European Parliament on the relevant strategic orientations.
Amendment 148 #
2019/0161(COD)
Proposal for a regulation
Article 5
Article 5
Amendment 157 #
2019/0161(COD)
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
Where relevant, based on an assessment by the Commission, the recommendation referred to in paragraph 1 of Article 5 shall establish whether a Member State is experiencing a severe economic downturn, for the purposes of a modulation of national co-financing rates provided for in Regulation (EU) XXXX/XX [Reform Support Programme Regulation]. The assessment of whether a Member State is experiencing a severe economic downturn should take into account convergence criteria and the intensity of the economic shock; therefore, it should be based on the following economic indicators: the gross domestic product, the unemployment rate and / or public investment rate.
Amendment 170 #
2019/0161(COD)
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament, before the Commission presents the euro area recommendations, may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures taken pursuant to this Regulationstrategic priorities of economic policies in the euro area that contribute to the convergence and competitiveness of the economies in the euro area.
Amendment 37 #
2018/0135(CNS)
Proposal for a decision
Recital 1 a (new)
Recital 1 a (new)
(1a) Article 311 TFUE states that, without prejudice to other revenue, the budget shall be wholly financed by own resources.
Amendment 55 #
2018/0135(CNS)
Proposal for a decision
Recital 6
Recital 6
(6) In order to finance the costs of principal and interest of the repayments of the European Recovery Instrument, to better align the Union's financing instruments with its policy priorities, to better reflect the Union's budget role for the functioning of thea fairer Single Market, to better support the objectives of Union policies, such as the Green Deal and digital transformation, and to reduce Member States' Gross National Income- based contributions to the Union's annual budget, it is necessary to introduce new categories of Own Resources based on the Common Consolidated Corporate Tax Base, the national revenue stemming from the European Union Emissions Trading System and, a national contribution calculated on the basis of non-recycled plastic packaging waste. Moreover, new Own Resources based on a Carbon Border Adjustment Mechanism, a digital service tax, a Financial Transaction Tax, implemented according to a scheme agreed by all Member States, a European Net Wealth Tax, a Single Market Levy and the revenues from the European Central Bank profits should be introduced to this end as soon as the underlying legal conditions are in place. Or. en (NOTE: the text comes from COM(2018)0325)
Amendment 60 #
2018/0135(CNS)
Proposal for a decision
Recital 6 a (new)
Recital 6 a (new)
(6a) The introduction of a basket of new genuine own resources will reduce Member States' Gross National Income- based contributions to the Union's annual budget, ending the "zero sum game" and "juste retour" routines and will make the EU budget more efficient, effective and transparent, because it addresses areas that are a priority for the EU and where the money collected and spent at EU level create more and better public goods, compared to the public funds spending at national level.
Amendment 78 #
2018/0135(CNS)
Proposal for a decision
Recital 9 a (new)
Recital 9 a (new)
(9a) The conditions that applied to the UK for supporting the introduction of rebates, as established in the European Council conclusions of Fontainebleau in 1984, are not valid anymore and therefore all the related correction mechanism granted to Germany, Austria, Denmark, Sweden and the Netherlands shall be abolished for the sake of fairness and transparency.
Amendment 89 #
2018/0135(CNS)
Proposal for a decision
Recital 10
Recital 10
Amendment 121 #
2018/0135(CNS)
Proposal for a decision
Article 2 – paragraph 1 – subparagraph 1 – point e c (new)
Article 2 – paragraph 1 – subparagraph 1 – point e c (new)
(ec) The 90% of the revenue generated by the European Central Bank by the issuing of currency and the presence of deposits, which shall be used to finance initiatives limited in scope to the Member States participating in the Euro Area.
Amendment 129 #
2018/0135(CNS)
Proposal for a decision
Article 2 – paragraph 1 – subparagraph 4
Article 2 – paragraph 1 – subparagraph 4
Amendment 135 #
2018/0135(CNS)
Proposal for a decision
Article 2 – paragraph 1 – subparagraph 4 a (new)
Article 2 – paragraph 1 – subparagraph 4 a (new)
All rebates and correction mechanisms currently granted to Austria, Denmark, Germany, the Netherlands and Sweden shall be terminated by 1 January 2021.
Amendment 138 #
2018/0135(CNS)
Proposal for a decision
Article 2 – paragraph 1 a (new)
Article 2 – paragraph 1 a (new)
1a. The Council, in strict cooperation with the European Parliament and the European Commission, shall approve a legally binding calendar specifying the introduction of a basket of Own Resources, at the latest by 1 January 2021.
Amendment 148 #
2018/0135(CNS)
Proposal for a decision
Article 4 – paragraph 1
Article 4 – paragraph 1
Amendment 99 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 806/2014
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
(a) credit institutions established in a participating Member State, including those affiliated to an institutional protection scheme as referred to in Article 113(7) of Regulation No 575/2013;
Amendment 117 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point9
Article 1 – paragraph 1 – point9
Regulation (EU) No 806/2014
Article 19 – paragraphs 3 5 7 and 10
Article 19 – paragraphs 3 5 7 and 10
Amendment 208 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o –title
Article 41 o –title
Article 41o Repayment of funding and determination of excess loss and lossliquidity
Amendment 211 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 1
Article 41 o – paragraph 1
1. The participating DGS shall repay the fundingliquidity support provided by the Board under Article 41n, less the amount of any excess loss cover in case of coverage under Article 41a in accor dany loss cover in case of coverage under Article 41d orce with a repayment plan as referred to in paragraph 2 of this Article 41h.
Amendment 213 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 2
Article 41 o – paragraph 2
2. UntilWithin 3 monthsof the determinationof the insolvency or resolution procedure, the Board shall determine, on an annual basis, the amount the participating DGS has already recovered from the insolvency procedure or has already be referred to in Article 41m, the Board, after consulting the relevant designated authority, shall establish a repayment paid in accordance with Article 75 of Directive 2014/59/EU. The participating DGS shalllan that ensures that the funding provide tod by the Board all information necessary to make this determination. The participating DGS shall pay to the Board a share of that amount which corresponds to the share that is covered by EDIS in accordance with Article 41a, Article 41d or Article 41hunder Article 41n will be repaid in full within six years by the participating DGS.
Amendment 215 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 3
Article 41 o – paragraph 3
3. In case of coverage under Article 41a, the participating DGSshall also pay to the Board, by the end of the first calendar year after the funding was provided, an amount equal to the ex-post contributions that the participatingDGS may raise within one calendar year in accordance with the first sentence of the first subparagraph of Article 10(8) of Directive 2014/49/EU, less the amount of ex-post contributions it raised in accordance with point (b) of Article 41b(1) of this RegulationThe repayment plan initially shall, to the largest extent possible, be based on the expected funding from the sources referred to in paragraph 5.
Amendment 221 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 4
Article 41 o – paragraph 4
4. After the termination of the insolvency procedure or resolution procedure of the credit institution concerned, the Board shall without delay determine the excess loss in accordance with Article 41d or the loss in accordance with Article 41h. Where this determination results in arepayment obligation ofthe participating DGS that differs from the amounts repaid in accordance with the second and third paragraph, the difference shall be settled between the Board and the participating DGS without deThe following conditions for the repayment planshallapply: (a) the minimum annualrepayment bythe participating DGS shall be on average 10% of the funding provided by the Board under article 41n; and b) each year, the Board shall reassess the level of expected recoveries and recalibrate the repayment plan for the remaining years in accordance with that assessment, and assess any need to extend the repayment playn.
Amendment 223 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 o – paragraph 4a (new)
Article 41 o – paragraph 4a (new)
4a. As long as a participating DGS has liquidity support outstanding with the DIF, at least 50% of any extraordinary contributions raised in accordance with Article 10(8) of Directive 2014/49/EU, at least 50% of any recoveries on the DGS’s claims pursuant to Article 9(2) of Directive 2014/49/EU and Article 75 of Directive 2014/59/EU, and at least 50% of any repayment of or income derived from measures taken in accordance with Article 109 of Directive 2014/59/EU or Article 11(3) and 11(6) of Directive 2014/49/EU shall be repaid to the DIF. This shall be reflected in the repayment plan.
Amendment 232 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 806/2014
Article 41 q a (new)
Article 41 q a (new)
Article 41qa Terms of loans provided by the DIF 1. The Board shall determine the key financial terms and conditions of the liquidity facility in a standardised agreement. 2. The Board and the participating DGS that has requested liquidity support in accordance with Article 41a shall enter into an agreement based on the standardized agreement as referred to in paragraph 1. 3. In case the participating DGS requests an extension of the maturity of the loan in accordance with Article 41o(7), an interest rate not higher than the ECB marginal facility rate may be charged until the remaining time to maturity of the loan.
Amendment 269 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 –subparagraph 1
Article 74 c – paragraph 5 –subparagraph 1
The Commission shall be empowered to adopt adelegated acts in accordance with Article 93 in order to specify a risk-based method for the calculation of contributions in accordance with paragraph 2 of this Article.
Amendment 270 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 –subparagraph 2
Article 74 c – paragraph 5 –subparagraph 2
Amendment 273 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 –subparagraph 3
Article 74 c – paragraph 5 –subparagraph 3
Amendment 278 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point34
Article 1 – paragraph 1 – point34
Regulation (EU) No 806/2014
Article 74 c – paragraph 5 –subparagraph 4 – introductory part
Article 74 c – paragraph 5 –subparagraph 4 – introductory part
Amendment 280 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 34
Article 1 – paragraph 1 – point 34
Regulation (EU) 806/2014
Article 74 c – paragraph 5 –subparagraph 4 – point d
Article 74 c – paragraph 5 –subparagraph 4 – point d
(d) the quality of the institution’s assets, including its level II and III assets;
Amendment 309 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 39 a (new)
Article 1 – paragraph 1 – point 39 a (new)
Regulation (EU) No 806/2014
Article 94 – paragraph 3 a (new)
Article 94 – paragraph 3 a (new)
39a. in Article 94, the following paragraph is added: 3a. By [insert one year after entry into force of this amending Regulation] the Commission shall review and assess the functioning of EDIS I and the transition to a fully mutualised insurance scheme that provides funding to and covers the losses of participating deposit guarantee schemes. It shall review the functioning of EDIS I in order to create a single European deposit insurance scheme, possibly backed by a publicly funded liquidity mechanism. The review shall assess in particular the following: (a) the adequacy of the funding mechanism and the target level of EDIS I, and the cases of use of the liquidity mechanism; (b) the scope of the measures financed by EDIS I under article 41a and by the entities referred to in Article 2(2), point (b); (c) the conditions for an extension of EDIS I from providing liquidity support to a loss coverage mechanism and its features; (d) the appropriateness of introducing a publicly funded backstop mechanism to support the DIF. By [insert one year after the date referred to in the first paragraph] the Commission shall submit a report to the European Parliament and the Council on the basis of this assessment. The report shall be accompanied by a legislative proposal, where appropriate.
Amendment 321 #
2015/0270(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 40
Article 1 – paragraph 1 – point 40
Regulation (EU) No 806/2014
Article 99 – paragraph 5 a
Article 99 – paragraph 5 a
5a. By way of derogation from paragraph 2, Article 1(2), Part IIa and Part III, Title V Chapter 2 Section 1a shall apply without undue delay and from [OP insert date of entry into force of this Regulation];
Amendment 104 #
2012/0060(COD)
Proposal for a regulation
Title 1
Title 1
Amendment 108 #
2012/0060(COD)
Proposal for a regulation
Recital 5
Recital 5
Amendment 111 #
2012/0060(COD)
(6) Within the context of the WTO and through its bilateral relations, the Union advocates an ambitious opening of international public procurement markets of the Union and its trading partners, in a spirit of reciprocity and mutual benefit.
Amendment 114 #
2012/0060(COD)
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6a) The plurilateral WTO Agreement on Government Procurement and EU trade agreements that include provisions on procurement provide for market access for Union economic operators only to the procurement markets of third countries that are parties to these agreements.
Amendment 117 #
2012/0060(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) If thea third country concerned is a Party to the WTO Agreement on Government Procurement or has concluded a trade agreement with the EU that includes provisions on public procurement, the Commission should follow the consultation mechanisms and/or dispute settlement procedures set out in thatose agreements when the restrictive practices relate to procurement covered by market access commitments undertaken by the country concernedat third country towards the Union.
Amendment 121 #
2012/0060(COD)
(8) Many third countries are reluctant to open their public procurement and their concessions markets to international competition, or to open those markets further than what they have already done. As a result, Union economic operators face restrictive procurement practices in many of the trading partners of the Union. Those restrictive procurement practices result in the loss of substantial trading opportunities.
Amendment 125 #
2012/0060(COD)
Proposal for a regulation
Recital 10
Recital 10
(10) Regulation (EU) No 654/2014 of the European Parliament and of the Council174 lays down rules and procedures in order to ensure the exercise of the Union's rights under international trade agreements concluded by the Union. No such rules and procedures exist for the treatment of economic operators, goods and services not covered by such international agreements. _________________ 174 Regulation (EU) No 654/2014 of the European Parliament and of the Council of 15 May 2014 concerning the exercise of the Union's rights for the application and enforcement of international trade rules and amending Council Regulation (EC) No 3286/94 laying down Community procedures in the field of common commercial policy in order to ensure the exercise of the Community’s rights under international trade rules, in particular those established under the auspices of the World Trade Organization (OJ L 189, 27.6.2014, p. 50.)
Amendment 130 #
2012/0060(COD)
Proposal for a regulation
Recital 11
Recital 11
(11) In the interest of legal certainty for Union and third-country economic operators, contracting authorities and contracting entiternational market access commitments undertaken by the Union towards third countries in the field of procurement and concessions require, inter alia, the equal treatment of economic operators from those countries. Consequently, measures adopted under this Regulation can only apply to economic operators, goods or services from countries that are not parties to the plurilateral WTO Agreement on Government Procurement or to bilateral or multilateral trade agreements with the Union that include commitments on access to procurement and concessions markets, or from countries that are parties, the international market access commitments undertaken by the Union towardso such agreements but only regarding procurement procedures for goods, services or concessions that are not covered by those agreements. Irrespective of the application of measures adopted under this Regulation, and in accordance with the Communication from the Commission of 24 July 2019 on ‘Guidance on the participation of third- countries in the field of public procurement and concessions should be reflected in the legal order of the EU, thy bidders and goods in the EU procurement market’ and with Directives 2014/23/EU, 2014/24/EU and 2014/25/EU of the European Parliament and of the Council, economic operators from third countries which do not have any agreement providing for the opening of the Union’s procurement market or whose goods, services and works are not covered by ensuring effective application thereof. such an agreement, do not have secured access to procurement procedures in the Union and could be excluded.
Amendment 136 #
2012/0060(COD)
Proposal for a regulation
Recital 12
Recital 12
(12) The objeffectives of application of any measure adopted under this Regulation with a view to improving the access of Union economic operators to the public procurement and concessions markets of certain third countries protected by restrictive and discriminatory procurement measures or practices and of preserving equal conditions of competition within the internal market require to refer to the non-preferential rules of origin established in the EU customs legislation, so that contracting authorities and contracting entities know whether goods and services are covered by the international commitments of the Unionrequires a clear set of rules of origin for economic operators, goods and services.
Amendment 138 #
2012/0060(COD)
Proposal for a regulation
Recital 13
Recital 13
(13) The origin of a good should be determined in accordance with Article 22s 59 to 262 of Council Regulation (EECU) No 2913/199218 952/20135 of the European Parliament and of the Council. _________________ 18Council 5Regulation (EECU) No 2913/1992 of 12 October 1992 establishing the Community952/2013 of the European Parliament and of the Council of 9 October 2013 laying down the Union Customs Code (OJ L 302, 9.10.1992269, 10.10.2013, p. 1)
Amendment 140 #
2012/0060(COD)
(14) The origin of a service should be determined on the basis of the origin of the natural or legal person providing it. The origin of a legal person should be considered to be the country under the laws of which a legal person is constituted or organised and in the territory of which the legal person is engaged in substantive business operations. The criterion of substantive business operations should not allow the potential circumvention of any measure adopted under this Regulation by the creation of letterbox companies. The term ‘substantive business operations’ is a concept used in the WTO General Agreement on Trade in Services. In Union law it is equivalent to the term ‘effective and continuous link with the economy’ and is closely linked to the right of establishment set out in Article 49 of the Treaty on the Functioning of the European Union. The Commission regularly publishes guidelines based on the case law related to the right of establishment, addressing, inter alia, the concept of effective or stable and continuous link with the economy. Article 86 of Directive 2014/25/EU also refers to the concept of “direct and effective link with the economy” which is equivalent to the concept of ‘substantive business operations’.
Amendment 142 #
2012/0060(COD)
Proposal for a regulation
Recital 15
Recital 15
Amendment 147 #
2012/0060(COD)
Proposal for a regulation
Recital 16
Recital 16
Amendment 158 #
2012/0060(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) When assessing whether restrictive and/or discriminatory procurement measures or practices exist in a third countryspecific measures or practices exist in a third country that could result in the impairment of access of Union goods, services or economic operators to the procurement or concession markets, the Commission should examine to what degree laws on public, rules or other measures on procurement and concessions of the country concerned ensure transparency in line with international standards in the field of public procurement, and do not result in serious and preclude any discriminaurring restrictions against Union goods, services andor economic operators. In addition, it should examine to what degree individual contracting authorities or contracting entities maintain or adopt discriminatoryrestrictive practices against Union goods, services andor economic operators.
Amendment 167 #
2012/0060(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) The Commission should be able, on its own initiative or at the application of interested parties or a Member State, to initiate at any time an investigation into restrictive procurement measures or practices allegedly adopted or maintained by a third country. . Such investigative procedures should be without prejudice to Regulation (EU) No 654/2014 of the European Parliament and of the Council , if it considers that such an investigation is in the interest of the Union.
Amendment 172 #
2012/0060(COD)
Proposal for a regulation
Recital 19 a (new)
Recital 19 a (new)
(19a) The determination whether an investigation is in the interest of the Union should be based on an appreciation of all the various interests taken as a whole, including the interests of the domestic industry, users, consumers, workers and social partners. The Commission is in any case responsible of determining the interest of the Union, and should weigh up the consequences of starting an investigation against its impact, and the potential measures that could be adopted under this Regulation on EU’s broader interests. The general objective of opening third-country markets and improving market access opportunities for Union economic operators should be taken into account. The objective of limiting any unnecessary administrative burden for contracting authorities and contracting entities as well as economic operators should also be taken into account.
Amendment 176 #
2012/0060(COD)
Proposal for a regulation
Recital 19 b (new)
Recital 19 b (new)
(19b) Given the overall policy objective of the Union to support the economic growth of least developed countries (LDCs) and their integration into global value chains, it would not be in the Union’s interest to start an investigation against such countries under this Regulation, unless there are reasonable indications of circumvention of any adopted IPI measures. Consequently, this Regulation is not intended to apply to LDCs benefitting from the "Everything But Arms" arrangement as defined in Regulation (EU) No 978/2012.
Amendment 183 #
2012/0060(COD)
Proposal for a regulation
Recital 20
Recital 20
(20) If the existence of a restrictive and/or discriminatory procurement measure or practice in a third country is confirmedWhen conducting the investigation, the Commission should invite the third country concerned to enter into consultations with a view to eliminating any restrictive measures or practices and improving the tendering opportunities for Union economic operators, goods and services in respect of public procurementregarding procurement and concessions markets in that country.
Amendment 185 #
2012/0060(COD)
Proposal for a regulation
Recital 22
Recital 22
(22) If the investigation confirms the existence of restrictive measures or practices and the consultations with the country concerned do not lead to sufficient satisfactory corrective actions that result in improvements to the tendering opportunities for Union economic operators, goods and services within a reasonable timeframe, the Commission, where appropriate, should be able to adopt, where appropriate, price adjustment measure applying to tenders submitted by economic operators originating in that country and/or including goods and services originating in that country under this Regulation measures (‘IPI measures’) in the form of a score adjustment or of exclusion of tenders.
Amendment 193 #
2012/0060(COD)
Proposal for a regulation
Recital 23
Recital 23
(23) SuchA score adjustment measures should be applied only for the purpose of the evaluation of tenders comprising goods or servicesubmitted by economic operators originating in the country concerned. To avoid circumvention of those measures, it may also be necessary to target certain foreign-controlled or owned legal persons that, although established in the European Union, are not engaged in substantive business operations that have a direct and effective link withIt should not affect the price actually due to be paid under the economy of at least one Member State . Appropriate measures should not be disproportionate to the restrictive procurement practices to which they respondtract to be concluded with the successful tenderer.
Amendment 197 #
2012/0060(COD)
Proposal for a regulation
Recital 23 a (new)
Recital 23 a (new)
(23a) IPI measures should apply to procurement procedures falling under the scope of this Regulation, including framework agreements and dynamic purchasing systems. IPI measures should also apply in the case of specific contracts awarded under a dynamic purchasing system, when those dynamic purchasing systems were subject to an IPI measure. However, they should not apply to such contracts below a certain threshold with a view to limiting the overall administrative burden for contracting authorities and contracting entities. In order to avoid a possible double application of IPI measures, such measures should not apply to contracts awarded based on a framework agreement, once they have already been applied at the stage of concluding that framework agreement.
Amendment 200 #
2012/0060(COD)
Proposal for a regulation
Recital 23 b (new)
Recital 23 b (new)
(23b) In the light of the overall policy objective of the Union to support small and medium-sized enterprises (SMEs), the Commission and contracting authorities and contracting entities should duly consider the effects of this Regulation, with a view to preventing an overburdening of SMEs. The Commission in cooperation with the Member States should make available guidelines for best practices to achieve this objective, in order to ensure the efficiency of this Regulation and the consistency of its implementation.
Amendment 202 #
2012/0060(COD)
Proposal for a regulation
Recital 23 c (new)
Recital 23 c (new)
(23c) To avoid possible circumvention of an IPI measure, it will also be necessary to impose additional contractual obligations on any successful tenderer. Those obligations should apply only in case of procurement procedures to which an IPI measure is applicable, as well as to contracts awarded based on a framework agreement where such contracts are equal or above a certain threshold and when that framework agreement was subject to an IPI measure.
Amendment 205 #
2012/0060(COD)
Proposal for a regulation
Recital 24
Recital 24
Amendment 213 #
2012/0060(COD)
Proposal for a regulation
Recital 25
Recital 25
Amendment 217 #
2012/0060(COD)
Proposal for a regulation
Recital 26
Recital 26
Amendment 225 #
2012/0060(COD)
Proposal for a regulation
Recital 27
Recital 27
(27) It is imperative that contracting authorities and contracting entities have access to a range of high-quality products meeting their purchasing requirements at a competitive price. Therefore contracting authorities and contracting entities should be able not to apply price adjustment, on an exceptional basis, not to apply IPI measures limiting access of non- covered goods and services in casef there are no Union and/or covered goods or services available which meet the requirements of the contracting authority or contracting entity or where such action relates to safeguarding essential public policy needs, for example in the fields of health andregarding public safeecurity, or where the application of the measure would lead to a disproportionate increase in the price or costs of the contractpublic health emergencies.
Amendment 229 #
2012/0060(COD)
Proposal for a regulation
Recital 28
Recital 28
(28) In case of misapplication of IPI measures by contracting authorities or contracting entities of exceptions to price adjustment measures limiting access of non-covered goods and services, the Commission should be able to apply the corrective mechanism of Article 3 of, which negatively affects the chances to participate in the procurement procedure of economic operators having such a right, Council Directives 89/665/EEC20 or Article 8 of Council Directive 92/13/EEC21 . In addition, contracts concluded with an economic operator by contracting authorities or contracting entiti and 92/13/EEC should be applicable. The affected economic operator could therefore initiate a review procedure according to the national law implementing these Directives, in violation of price adjustment measures limiting access of non-covered goods and services should be ineffectivef, for example, a competing economic operator should have been excluded. The Commission should also be able to apply the corrective mechanism according to Article 3 of Council Directive 89/665/EEC19 or Article 8 of Council Directive 92/13/EEC20. _________________ 2019Council Directive 89/665/EEC on the coordination of the laws, regulations and administrative provisions relating to the application of review procedures to the award of public supply and public works contracts (OJ L 395, 30.12.1989, p. 33). 2120Council Directive 92/13/EEC coordinating the laws, regulations and administrative provisions relating to the application of Community rules on the procurement procedures of entities operating in the water, energy, transport and telecommunications sectors (OJ L 76, 23.3.1992, p. 14).
Amendment 233 #
2012/0060(COD)
Proposal for a regulation
Recital 30
Recital 30
(30) The examination procedure should be used for the adoption of implementing acts regarding the adoption, withdrawal, or suspension or reinstatement of a the price adjustment measuren IPI measure and the Commission should be assisted by the Committee set up under the Trade Barriers Regulation. If necessary and for matters affecting the Union’s legal framework on public procurement, the Commission may also seek the advice of the Advisory Committee on Public Procurement established by Council Decision 71/306/EEC.
Amendment 235 #
2012/0060(COD)
Proposal for a regulation
Recital 30 a (new)
Recital 30 a (new)
(30a) Information received pursuant to this Regulation should only be used for the purpose for which it was requested and with due respect to the applicable Union and national data protection and confidentiality requirements. Regulation (EC) No 1049/2001 as well as Article 28 of Directive 2014/23/EU, Article 21 of Directive 2014/24/EU and Article 39 of Directive 2014/25/EU, should apply accordingly.
Amendment 238 #
2012/0060(COD)
Proposal for a regulation
Recital 32
Recital 32
(32) Regular reporting by the Commission should make it possible to monitor the applicaIn line with the Interinstitutional Agreement of 13 April 2016 on Better Law-Making9a and with a view, inter alia, to reduce administrative burdens, in particular on Member States, the Commission should regularly review the scope, functioning and efficiency of the procedures established by this Regulationis Regulation. The Commission should report on its assessment to the European Parliament and the Council. The review may be followed up by appropriate legislative proposals.
Amendment 241 #
2012/0060(COD)
Proposal for a regulation
Recital 33
Recital 33
Amendment 242 #
2012/0060(COD)
Proposal for a regulation
Recital 33 a (new)
Recital 33 a (new)
(33a) It is also imperative that, in view of an appropriate integration of environmental, social and labour requirements, Member States take relevant measures to ensure compliance with obligations in the fields of environmental, social and labour law that apply at the place where the works are executed and result from international obligations, laws, regulations, decrees and decisions, at both national and Union level, as well as from collective agreements.
Amendment 244 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 1
Article 1 – paragraph 1 – subparagraph 1
This Regulation establishes measures intended to improve the access of Union economic operators, goods and services to the public procurement and concessions markets of third countries, in respect of non-covered procurement. It lays down procedures for the Commission to undertake investigations into alleged restrictive and discriminatory procurement measures or practices adopted or maintained by third countrithird country measures or practices against Union economic operators, goods and services, and to enter into consultations with the third countries concerned.
Amendment 248 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 2
Article 1 – paragraph 1 – subparagraph 2
Amendment 252 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 3
Article 1 – paragraph 3
Amendment 256 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 4
Article 1 – paragraph 4
Amendment 260 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 4 a (new)
Article 1 – paragraph 4 a (new)
4a. The application of this Regulation shall be without prejudice to any international obligations of the Union or measures that Member States and their contracting authorities and contracting entities may take in accordance with the acts mentioned in paragraph 2.
Amendment 262 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 5
Article 1 – paragraph 5
Amendment 268 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 5 a (new)
Article 1 – paragraph 5 a (new)
5a. This Regulation shall apply only to procurement procedures launched after its entry into force. An IPI measure shall only apply to procurement procedures which are covered by the IPI measure and have been launched at any moment between the entry into force of that IPI measure and its expiry, withdrawal or suspension. A reference to the application of this Regulation and any applicable IPI measure shall be included by contracting authorities and contracting entities in the procurement documents for procedures falling within the scope of an IPI measure.
Amendment 269 #
2012/0060(COD)
Proposal for a regulation
Article 1 – paragraph 5 b (new)
Article 1 – paragraph 5 b (new)
5b. Member States shall take appropriate measures to ensure that in the performance of public contracts economic operators comply with applicable obligations in the fields of environmental, social and labour law established by Union law, national law, collective agreements or by the international environmental, social and labour law provisions listed in Annex X of the Directive 2014/24/EU and of the Paris Agreement.
Amendment 270 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
(a) 'economic operator' means any natural or legal person or public entity or group of such persons and/or entities, including any temporary association of undertakings, which submits a tender for the ex economic operator as defined in Direcution of works and/or a work, the supply of goods or the provision of services on the marketves 2014/23/EU, 2014/24/EU and 2014/25/EU respectively;
Amendment 274 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point a a (new)
Article 2 – paragraph 1 – point a a (new)
Amendment 277 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point a b (new)
Article 2 – paragraph 1 – point a b (new)
(ab) 'estimated value’ means estimated value as calculated in accordance with Directives 2014/23/EU, 2014/24/EU and 2014/25/EU respectively;
Amendment 278 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point a c (new)
Article 2 – paragraph 1 – point a c (new)
(ac) 'score adjustment measure’ means the relative diminution by a given percentage of the score of a tender resulting from its evaluation by a contracting authority or a contracting entity on the basis of the contract award criteria defined in the procurement documents. For the purposes of contract award criteria, Member States shall integrate environmental, social and labour requirements that apply at the place where the works are executed and result from international obligations, laws, regulations, decrees and decisions, at both national and Union level, as well as from collective agreements. In cases where price or cost is the only contract award criterion, the score adjustment measure means the relative increase, for the purpose of the evaluation of tenders, by a given percentage of the price offered by a tenderer;
Amendment 281 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point b
Article 2 – paragraph 1 – point b
(b) ‘contracting authority’ means ‘a contracting authority’ as defined in Article 2(1) of Directive 2014/24/EUDirectives 2014/23/EU, 2014/24/EU and 2014/25/EU respectively;
Amendment 282 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point c
Article 2 – paragraph 1 – point c
(c) ‘contracting entity’ means a 'contracting entity' as defined in Article 4(1) of Directive 2014/25/EU and Article 7 of Directive 2014/23/EU ;
Amendment 284 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point d
Article 2 – paragraph 1 – point d
Amendment 286 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point e
Article 2 – paragraph 1 – point e
Amendment 290 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point f
Article 2 – paragraph 1 – point f
(f) ‘restrictive and/or discriminatory procurementthird country measure or practice’ means any legislative, regulatory or administrative measure, procedure or practice, or combination thereof, adopted or maintained by public authorities or individual contracting authorities or contracting entities in a third country, that result in a serious and recurrent impairment of access of Union goods, services and/or economic operators to the public procurement or concession market of that countrys.
Amendment 291 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point f a (new)
Article 2 – paragraph 1 – point f a (new)
(fa) ‘IPI measure’ means a measure adopted by the Commission in accordance with this Regulation limiting the access of economic operators and/or goods and services originating in the third country to the Union procurement or concessions market in the area of non-covered procurement;
Amendment 293 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point f b (new)
Article 2 – paragraph 1 – point f b (new)
(fb) ‘non-covered procurement’ means procurement procedures for goods, services or concessions regarding which the Union has not undertaken market access commitments in an international agreement in the field of procurement or concessions;
Amendment 296 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point f c (new)
Article 2 – paragraph 1 – point f c (new)
(fc) ‘contract’ means public contracts as defined in Directive 2014/24/EU, concessions as defined in Directive 2014/23/EU and supply, works and service contracts as defined in Directive 2014/25/EU;
Amendment 297 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point f d (new)
Article 2 – paragraph 1 – point f d (new)
(fd) ‘tenderer’ means a tenderer as defined in Directives 2014/23/EU, 2014/24/EU and 2014/25/EU respectively;
Amendment 301 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point h
Article 2 – paragraph 1 – point h
Amendment 303 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point h a (new)
Article 2 – paragraph 1 – point h a (new)
(ha) 'Union interest' means a determination as to whether the Union's interest calls for intervention shall be based on an appreciation of all the various interests taken as a whole, including the interests of the domestic industry and users and consumers. Measures may not be applied where the authorities, on the basis of all the information submitted, can clearly conclude that it is not in the Union's interest to apply such measures. (See mutatis mutandis Article 21 Regulation (EU) 2016/1036 of the European Parliament and of the Council of 8 June 2016 on protection against dumped imports from countries not members of the European Union (codification))
Amendment 304 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point h a (new)
Article 2 – paragraph 1 – point h a (new)
(ha) ‘Evidence’ means any information, certificate, supporting document, statement and other means of proof aimed at proving compliance with the obligations set out in Art. 7.1 (c). This may refer to: (i) certificates of origin, supplier declarations or import declarations for goods originating in third countries; (ii) description of manufacturing processes (including samples, descriptions or photographs) for goods to be supplied; and (iii) extract of relevant registers or of financial statements for the origin of services, including a VAT identification number;
Amendment 308 #
2012/0060(COD)
Proposal for a regulation
Article 2 – paragraph 2
Article 2 – paragraph 2
2. For the purpose of this Regulation, except for Articles 5(3) and 5(7), the execution of works and/or a work within the meaning of Directives 2014/253/EU, 2014/24/EU and Directive 2014/235/EU shall be considered as the provision of a service.
Amendment 310 #
Amendment 312 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
Amendment 314 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
Amendment 315 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – point a
Article 3 – paragraph 3 – point a
(a) in the case of a natural person, the country of which the person is a national or where hethat person has a right of permanent residence;
Amendment 318 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – point b – point i
Article 3 – paragraph 3 – point b – point i
(i) if the service is not provided through a commercial presence within the Union, the country under the laws of which the legal person is constituted or otherwise organised and in the territory of which the legal person is engaged in substantive business operations, entailing a direct and effective link with the economy of the country concerned;
Amendment 320 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – point b – point ii
Article 3 – paragraph 3 – point b – point ii
Amendment 322 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 2
Article 3 – paragraph 3 – subparagraph 2
Amendment 324 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3
Article 3 – paragraph 3 – subparagraph 3
Amendment 326 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3 a (new)
Article 3 – paragraph 3 – subparagraph 3 a (new)
Where an economic operator is a group of natural or legal persons and/or public entities, and at least one of such persons or entities originates from the third country whose economic operators and goods and services are subject to the IPI measure, the IPI measure shall equally apply to tenders submitted by that group. This shall not apply in cases in which such persons' or entities' participation in a group amounts to less than 15% of the value of the tender in question, unless that person or entity is necessary for fulfilling the majority of at least one of the selection criteria in a procurement procedure.
Amendment 327 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3 b (new)
Article 3 – paragraph 3 – subparagraph 3 b (new)
Contracting authorities or contracting entities may at any time during the procurement procedure request the economic operator to submit, supplement, clarify or complete the information or documentation related to the verification of the economic operator's origin within an appropriate time limit, provided that such requests are made in full compliance with the principles of equal treatment and transparency. Tenders from economic operators that fail to provide such information or documentation may be rejected in accordance with the rules applicable to the award procedure.
Amendment 328 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3 c (new)
Article 3 – paragraph 3 – subparagraph 3 c (new)
For the application of the additional contractual obligations upon the successful tenderer set out in Article 7, the origin of a good shall be determined in accordance with Articles 59 to 62 of Council Regulation (EEC) No 952/2013, while the origin of a service shall be determined on the basis of the origin of the economic operator providing it.
Amendment 330 #
2012/0060(COD)
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 4
Article 3 – paragraph 3 – subparagraph 4
Amendment 333 #
Amendment 337 #
2012/0060(COD)
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
Tenders shall be exempted from this Regulation where more than 50% of the total value of the tender is made up of goods and/or servicesthey have been submitted by an economic operator originating in least- developed countries listed in Annex IV to Regulation (EU) No 978/201227 , and in developing countries considered to be vulnerable due to a lack of diversification and insufficient integration within the international trading system as defined in Annex VII to Regulation (EU) No 978/2012. _________________ 27Regulation (EU) No 978/2012 of the European Parliament and of the Council applying a scheme of generalised tariff preferences and repealing Council Regulation (EC) No 732/2008 (OJ L 303, 31.10.2012, p. 1).
Amendment 341 #
2012/0060(COD)
Proposal for a regulation
Article 5
Article 5
Amendment 344 #
2012/0060(COD)
Investigations, consultations and price adjustment measure, measures and contractual obligations
Amendment 347 #
Amendment 350 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1
Article 6 – paragraph 1 – subparagraph 1
Amendment 355 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 1 – subparagraph 1 a (new)
Article 6 – paragraph 1 – subparagraph 1 a (new)
Upon publication of the notice, the Commission shall invite the third country concerned to submit its views, provide information and enter into consultations with the Commission in order to remove the alleged third country measure or practice. The Commission shall regularly inform Member States, within the Committee set up by Article 7 of the Council Regulation (EU) 2015/1843 (Trade Barriers Regulation), the interested parties and the European Parliament.
Amendment 360 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The assessment by the Commission of whether the alleged restrictive and/or discriminatory procurement measures or practices have been adopted or are maintained by the third country concerned shall be made on the basisinvestigation and consultations shall be concluded within a period of six months after the date of the publication in the Official Journal of the informitiation supplied by interested parties and Member States, of facts collected by the Commission during its investigation, or both. The assessment shall be concluded within a period of eight months after the initiation of the investigation. In duly justified cases, this period may be extended by four monthnotice. In duly justified cases, the Commission may, before the end of the initial six months, extend that period by three months, by publishing a notice in the Official Journal of the European Union and informing the third country, interested parties and Member States.
Amendment 364 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 2 a (new)
Article 6 – paragraph 2 a (new)
2a. Upon conclusion of the investigation and consultations, the Commission shall make publicly available a report recording the main findings of the investigation and a proposed course of action. The Commission shall present the report to the European Parliament.
Amendment 368 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. Where the Commission concludes as a result offinds, following its investigation that the alleged restrictive and/or discriminatory procurementthird country measures or practices areis not maintained or that ithey does not result in restrictions toserious and recurrent impairment of access byof Union economic operators or Union goods andor services to the public procurement or concession markets of the third country concerned, the Commission shall terminate the investigation. and publish a notice of termination in the Official Journal of the European Union.
Amendment 370 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
Amendment 374 #
2012/0060(COD)
Proposal for a regulation
Article 6 – paragraph 4 a (new)
Article 6 – paragraph 4 a (new)
Amendment 375 #
Amendment 387 #
2012/0060(COD)
Proposal for a regulation
Article 8
Article 8
Amendment 429 #
2012/0060(COD)
Proposal for a regulation
Article 8 a (new)
Article 8 a (new)
Amendment 433 #
2012/0060(COD)
Proposal for a regulation
Article 9
Article 9
Authorities or entities concerned The Commission shall determine the contracting authorities or entities or categories of contracting authorities or entities, listed by Member State, whose procurement is concerned by the measure. To provide the basis for this determination, each Member State shall submit a list of appropriate contracting authorities or entities or categories of contracting authorities or entities. The Commission shall ensure that an appropriate level of action is taken and that a fair distribution of the burden among Member States is achieved.rticle 9 deleted
Amendment 439 #
2012/0060(COD)
Proposal for a regulation
Article 9 a (new)
Article 9 a (new)
Article 9a Additional contractual obligations upon the successful tenderer 1. In the case of procurement procedures to which an IPI measure is applicable, as well as in the case of contracts awarded based on a framework agreement where the estimated value of those contracts is equal or above the respective values set out in Article 8 of Directive 2014/23/EU, Article 4 of Directive 2014/24/EU and Article 15 of Directive 2014/25/EU and when those framework agreements were subject to the IPI measure, contracting authorities and contracting entities shall also include, among the conditions of the contract with the successful tenderer: (a) a commitment not to subcontract more than 25% of the total value of the contract to economic operators originating in a third country which is subject to an IPI measure; (b) for contracts whose subject matter covers the supply of goods, a commitment that, for the duration of the contract, goods and/or services supplied or provided in the execution of the contract and originating in the third country which is subject to the IPI measure represent no more than 25% of the total value of the contract, whether such goods and/or services are supplied or provided directly by the tenderer or by a subcontractor; (c) an obligation to provide upon request adequate evidence corresponding to points (a) and/or (b)to the contracting authority or the contracting entity at the latest upon completion of the execution of the contract; (d) a proportionate charge, in case of non-observance of the commitments referred in points (a) or (b) of 25% of the total value of the contract. 2. For the purposes of paragraph 1(c) it is sufficient to provide evidence that more than 75% of the total value of the contract originates in countries other than the third country subject to the IPI measure. The contracting authority or contracting entity shall request evidence in case of reasonable indications of incompliance with paragraph 1(a) and/or1(b) or if the contract is awarded to a group of economic operators comprising a legal person originating in the country subject to an IPI measure. 3. A reference to the additional conditions laid down in this Article shall be included by contracting authorities and contracting entities in the documents for procurement procedures to which an IPI measure is applicable.
Amendment 443 #
2012/0060(COD)
Proposal for a regulation
Article 10
Article 10
Amendment 449 #
Amendment 466 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 1 – introductory part
Article 12 – paragraph 1 – introductory part
1. Contracting authorities and contracting entities may, on an exceptional basis, decide not to apply the price adjustmentIPI measure with respect to a procurement or a concession procedure if:
Amendment 470 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point a
Article 12 – paragraph 1 – point a
Amendment 475 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point a a (new)
Article 12 – paragraph 1 – point a a (new)
(aa) there are only tenders from economic operators originating in the country subject to an IPI measure, or only such tenders meet the tender requirements; or
Amendment 480 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point a b (new)
Article 12 – paragraph 1 – point a b (new)
(ab) this is justified for overriding reasons relating to the public interest, public security or public health emergencies.
Amendment 483 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 1 – point b
Article 12 – paragraph 1 – point b
Amendment 486 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 2
Article 12 – paragraph 2
2. Where a contracting authority or contracting entity intenddecides not to apply a price adjustmentn IPI measure , it shall indicate its intention in the contract notice that it publishes pursuant to Article 49 of Directive 2014/24/EU or Arform the Commission, in a manner to be decided by the respective Member State, no later than thirty calendar days after the publication of the contract noticle 69 of Directive 2014/25/EU or in the concession notice pursuant to Article 31 of Directive 2014/23/EU. It shall notify the Commission no later than ten calendar days after the publication of the contract noticethe award of the contract. The Commission may object to a non- application of an IPI measure if the notification lacks sufficient justification. If the Commission intends to object to the non-application of an IPI measure, it shall notify the contracting authority or contracting entity within the aforementioned time period.
Amendment 492 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – introductory part
Article 12 – paragraph 3 – introductory part
3. The notification shall contain the following information: information on the origin of the economic operators that have submitted a tender, due justification of the use of the exception and, where appropriate, any other information deemed useful by the contracting authority or contracting entity.
Amendment 495 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – point a
Article 12 – paragraph 3 – point a
Amendment 496 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – point b
Article 12 – paragraph 3 – point b
Amendment 498 #
2012/0060(COD)
Amendment 499 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – point d
Article 12 – paragraph 3 – point d
Amendment 502 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – point e
Article 12 – paragraph 3 – point e
Amendment 503 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 3 – subparagraph 2
Article 12 – paragraph 3 – subparagraph 2
The Commission may ask the contracting authority or contracting entityMember State concerned for additional information.
Amendment 504 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 4 – subparagraph 1
Article 12 – paragraph 4 – subparagraph 1
Amendment 507 #
2012/0060(COD)
Amendment 508 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 4 – subparagraph 2 – point b
Article 12 – paragraph 4 – subparagraph 2 – point b
Amendment 509 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 4 – subparagraph 2 – point c
Article 12 – paragraph 4 – subparagraph 2 – point c
Amendment 510 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 4 – subparagraph 2 – point d
Article 12 – paragraph 4 – subparagraph 2 – point d
Amendment 511 #
2012/0060(COD)
Proposal for a regulation
Article 12 – paragraph 4 – subparagraph 2 – point e
Article 12 – paragraph 4 – subparagraph 2 – point e
Amendment 512 #
Amendment 514 #
2012/0060(COD)
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
Amendment 515 #
2012/0060(COD)
Proposal for a regulation
Article 13 – paragraph 2
Article 13 – paragraph 2
Amendment 518 #
2012/0060(COD)
Proposal for a regulation
Article 13 a (new)
Article 13 a (new)
Article 13a Remedies To ensure legal protection of economic operators having or having had an interest in obtaining a particular contract falling under the scope of this Regulation, Council Directive 89/665/EEC and Council Directive 92/13/EEC shall apply accordingly
Amendment 521 #
2012/0060(COD)
Proposal for a regulation
Article 15
Article 15
Amendment 523 #
2012/0060(COD)
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
Amendment 531 #
2012/0060(COD)
Proposal for a regulation
Article 17 a (new)
Article 17 a (new)
Article 17a Review No later than three years after the adoption of an implementing act or after the date of entry into force of this Regulation, whichever is the earliest, and every three years thereafter, the Commission shall review the scope, functioning and efficiency of this Regulation, and shall report its findings to the European Parliament and the Council.