Proposal for a directive
Article 2 – paragraph 1 – point 16

The costs used for the development of benchmarks shall, in addition to the total product cost, also include all costs of distribution~~, inclusive inducements~~. They shall allow comparison with individual cost components.

2023/11/09
Committee: ECON

2023/0167(COD)

Eero HEINÄLUOMA, Aurore LALUCQ, René REPASI

Proposal for a directive
Article 2 – paragraph 1 – point 16

Directive 2016/97
Article 25 – paragraph 12 a (new)

12a. EIOPA shall organise and conduct a peer review, at least once every two years, in cooperation with national competent authorities regarding the implementation of the obligation described in this Article.

2023/11/09
Committee: ECON

2a. Member States shall ensure that a DGS of a host Member State may, subject to an agreement with a DGS of a home Member State, act as the point of contact for depositors at credit institutions that exercise the freedom to provide services as referred to in Title V, Chapter 3, of Directive 2013/36/EU, and shall be compensated for the costs incurred. DGS of a home Member State shall provide to the DGS of the host Member State information on the number of depositors, amount of covered deposits and possible relevant changes to these.

2023/11/06
Committee: ECON

Eero HEINÄLUOMA

Proposal for a regulation
Recital 2

(2) Several years into its implementation, the Union resolution framework as currently applicable does not deliver as intended with respect to some of those objectives. In particular, while institutions and entities have made significant progress towards resolvability and have dedicated significant resources to that end, in particular through the build-up of the loss absorption and recapitalisation capacity and the filling-up of resolution financing arrangements, the Union resolution framework is seldom resorted to. Failures of certain smaller and medium- sized institutions and entities are instead mostly addressed through unharmonised national measures. Taxpayer money is used rather than resolution financing arrangements. That situation appears to arise from inadequate incentives. Those inadequate incentives result from the interplay of the Union resolution framework with national rules, whereby the broad discretion in the public interest assessment is not always exercised in a way that reflects how the Union resolution framework was intended to apply. At the same time, the Union resolution framework saw little use due to the risks for depositors of deposit-funded institutions to bear losses to ensure that those institutions can access external funding in resolution, in particular in the absence of other bail-inable liabilities. Finally, the fact that there are less stringent rules on access to funding outside resolution than in resolution has discouraged the application of the Union resolution framework in favour of other solutions, which often entail the use of taxpayers’ money instead of the own resources of the institution or entity or industry-funded safety nets. That situation in turn generates risks of fragmentation, risks of suboptimal outcomes in managing institutions and entities’ failures, in particular in the case of smaller and medium-sized institutions and entities, and opportunity costs from unused financial resources. It is therefore necessary to ensure a more effective and coherent application of the Union resolution framework and to ensure that it can be applied whenever that is in the public interest, including for smaller and medium- sized institutions ~~primarily funded through deposits and without sufficient other bail-inable liabilities~~.

2023/11/06
Committee: ECON

2023/0111(COD)

Eero HEINÄLUOMA

Proposal for a regulation
Recital 10

(10) The level of the MREL for resolution entities is the sum of the amount of the losses expected in resolution and the recapitalisation amount that enables the resolution entity to continue to comply with its conditions for authorisation and enabling it to pursue its activities for an appropriate period. Certain preferred resolution strategies entail the transfer of assets, rights and liabilities to a recipient and market exit, in particular the sale of business tool. In those cases, the objectives pursued by the recapitalisation component might not apply to the same extent as in the case of an open-bank bail-in strategy, because the Board will not be required to ensure that the resolution entity restores compliance with its own funds requirements after resolution action. Nevertheless, the losses in such cases are expected to exceed the resolution entity’s own funds requirements. It is therefore appropriate to lay down that the level of the MREL of those resolution entities continues to include a recapitalisation amount that is adjusted in a way which ~~is proportionate to~~supports the resolution strategy.

2023/11/06
Committee: ECON

2023/0111(COD)

Eero HEINÄLUOMA

Proposal for a regulation
Recital 19

(19) The assessment of whether the resolution of an institution or entity is in the public interest should also reflect, to the extent possible, the difference between, on the one hand, funding provided through industry-funded safety nets (resolution financing arrangements or deposit guarantee schemes) and, on the other hand, funding provided by Member States from taxpayers’ money. Funding provided by Member States bears a higher risk of moral hazard and a lower incentive for market discipline. Therefore, when assessing the objective of minimising reliance on extraordinary public financial support, the Board should find funding through the resolution financing arrangements or the deposit guarantee scheme, preferable to funding through an equal amount of resources from the budget of Member States.deleted

2023/11/06
Committee: ECON

2023/0111(COD)

Eero HEINÄLUOMA

Proposal for a regulation
Recital 31

(31) In certain circumstances, after the Single Resolution Fund has provided a contribution up to the maximum of 5 % of the institution or entity’s total liabilities including own funds, the Board may use additional sources of funding to further support their resolution action. It should be specified more clearly in which circumstances the Single Resolution Fund may provide further support where all liabilities with a priority ranking lower than deposits that are not mandatorily or discretionarily excluded from bail-in have been written down or converted in full.

2023/11/06
Committee: ECON

2023/0111(COD)

Eero HEINÄLUOMA

Proposal for a regulation
Article 1 – paragraph 1 – point 16

Regulation (EU) No 806/2014
Article 13c – paragraph 7

7. The Board shall inform the Commission, the ECB, the relevant national competent authorities and the relevant national resolution authorities and the relevant national ministries of any action taken pursuant to paragraphs 4 and 5 without delay.

2023/11/06
Committee: ECON

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Citation 9 a (new)

— having regard to the Council conclusions on women, peace and security of 14 November 2022,

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Citation 13 a (new)

— having regard to the fourth and final Annual Review Conference of the Civilian CSDP Compact on 16 November 2022,

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Recital D a (new)

D a. whereas Member States are responsible for providing missions’ capability requirements, pursuant to art 42 TEU;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Recital D b (new)

D b. whereas EU CSDP missions and operations are often targeted by hybrid threats, including disinformation, putting at risk their effectiveness in stabilising the country in which they are deployed;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 1 a (new)

1 a. Calls on EU Member States to agree on an ambitious new Civilian CSDP Compact by mid 2023, as stipulated in the Strategic Compass, in order to renew their commitment to strengthening civilian CSDP, their shared political ownership of it and their commitment to reinforce and bridge the gaps in civilian CSDP missions;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 2 a (new)

2 a. Calls on EU member states to renew their commitment to increase national contributions to civilian CSDP missions, especially in terms of human resources;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 4 – point g

g) the security-climate nexus, by mainstreaming climate change and environmental degradation, as it relates to security challenges, while taking concrete steps to reduce the footprint of the missions with the aim to achieve climate- neutrality by 2050 in line with the goals set out under the European Green Deal,

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 4 – point h

h) civil-military cooperation, by promoting the rule of law and accountability, including by strengthening the justice chain and capabilities to respond effectively to security challenges;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 5 a (new)

5 a. Emphasises that all EU engagements must be credible in the eyes of local and regional populations and authorities, building on close and honest cooperation with host nations, and must maintain frequent communication between mission personnel, national authorities and the broader population;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 5 b (new)

5 b. Recalls that civilian missions must pay special attention to conflict dynamics, robust risk assessment and mitigation processes, and must include more impact- based monitoring and evaluation of CSDP interventions as well as more consultation and feedback mechanisms;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 6

6. Calls for the new Civilian CSDP Compact to be used to strive for the full, equal and meaningful participation of women in civilian CSDP, ~~including, as a first step, to increase the participation of women to at least 40 % across missions and at all levels by 2024;~~ highlights women’s significant contribution in CSDP missions and operations success and as a driver of the EU’s credibility as a proponent of equal rights for men and women worldwide; recalls the EU’s Gender Action Plan (GAP) III (2020- 2024), which requires systematic integration of a gender perspective in all EU policies and external actions including the CSDP; urges the Member States and EEAS to promote an increase in the number of women in CSDP operations, including, as a first step, to increase the participation of women to at least 40 % across missions and at all levels by 2024; calls on EU Member States to commit to gradually achieve gender parity in the appointments of heads of mission and other senior leadership positions; encourages their close cooperation with local civil society actors in promoting gender equality and gender mainstreaming where possible;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 10 a (new)

10 a. Calls for the implementation of sustainable, long-term capacity building and training as part of civilian CSDP missions, where possible and required, such as “train-the-trainer” programs, in order to ensure the long-term viability and success of the missions;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 11

11. Calls for clear exit strategies for civilian missions, allowing for swifter closure of missions when operational and political objectives are met, and also when those are not met;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 12 a (new)

12 a. Further welcomes the proposed creation of the Rapid Deployment Capacity (RDC); underlines the RDC’s main tasks, which will include amongst others, rescue and evacuation operations, temporary reinforcement of other missions and acting as a reserve force to secure exit; stresses in this regard the need to create contingency plans for each Civilian CSDP mission in coordination with the Military Planning and Conduct Capability (MPCC), the CPCC and the RDC in anticipation of potential emergency situations where the RDC may be required;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 14 a (new)

14 a. Calls on EU member states to maintaining a commitment in the new compact to develop the full range of capabilities needed to undertake and sustain civilian crisis management missions, including mission support and generic capabilities, and commit to specific measures to enhance their availability for civilian CSDP missions;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS

Motion for a resolution
Paragraph 15

15. Deplores the fact that in spite of being one of the core commitments in the Compact, civilian CSDP missions persistently suffer from Member States not delivering on their pledges to provide sufficient personnel, with 10 Member States currently providing 78 % of seconded personnel, and 17 Member States only 22 %; calls on ~~all M~~EU member Sstates to ~~ensure that they provide seconded staff to fill 100 % of all op~~maintain a commitment in the new compact to raise jointly the number and share of seconded personnel to at least 70% of international p~~ositions and to provide at least 60 % of the seconded staff for non-~~ersonnel across all missions and at all levels, while aiming for 100% seconded personnel in operational positions;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 16

16. Stresses the need to reform the human resources policy and management system, and to ensure that the working conditions in civilian CSDP missions contribute to a safer and more inclusive environment; welcomes the EEAS’s efforts to address weaknesses in the support provided to staff in missions, including the revision of the Code of Conduct, with a particular focus on human rights principles; calls on the EEAS to examine ways aimed at reducing staff turnover and vacancy rates, including amongst others, extending deployment time;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 19 a (new)

19 a. Emphasises the significance of coordinated action on a Union level to effectively prevent and counter hybrid threats faced by civilian CSDP missions; welcomes the joint communication on an EU cyber defence policy, noting the importance of cyber resilience for CSDP missions and the decision to develop an EU hybrid toolbox for a coordinated response to hybrid campaigns; stresses the need to further develop the EU’s cyber- defence policy and capabilities, including the setting up of cyber rapid response teams and their expansion towards supporting civilian CSDP missions; reiterates the urgent need to develop their strategic communication capabilities including secure communication systems drawing on the EU’s secure connectivity programme;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 19 b (new)

19 b. Stresses the importance of fighting adverse disinformation aimed at Civilian CSDP missions by malicious state and non-state actors; calls on the EEAS to take concrete steps to support CSDP missions through strengthening the capacities of the StratCom division and ensuring the provision of well-trained personnel at each mission, responsible for monitoring, reporting and countering disinformation where possible;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 19 c (new)

19 c. Welcomes the proposal, enshrined in the Strategic Compass, to enable a more rapid deployment of Civilian CSDP missions; underlines in this regard the stated aim to deploy up to 200 experts within 30 days; stresses therefore the need to modify decision-making procedures, including examining a shift towards qualified majority voting for certain aspects of the missions;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 19 d (new)

19 d. Calls on the EEAS to develop, together with Commission services and Member States, a structured and regular civilian capability development process by 2024;

2023/02/15
Committee: AFET

2022/2196(INI)

Javi LÓPEZ, Eero HEINÄLUOMA, Attila ARA-KOVÁCS, Sven MIKSER

Motion for a resolution
Paragraph 21 a (new)

21 a. Highlights the need of ensuring a more robust and realistic CFSP budget that matches the needs of new and ongoing civilian CSDP missions and its rapid, flexible and cost-efficient use to support them, ensuring sound financial management and careful prioritisation of existing resources;

2023/02/15
Committee: AFET

2022/2150(INI)

Jonás FERNÁNDEZ, Marek BELKA, Alfred SANT, Margarida MARQUES, René REPASI, Csaba MOLNÁR, Aurore LALUCQ, Marc ANGEL, Joachim SCHUSTER, Eero HEINÄLUOMA, Costas MAVRIDES, Pedro SILVA PEREIRA, Pedro MARQUES

Motion for a resolution
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

2023/01/11
Committee: ECON

2022/2150(INI)

Jonás FERNÁNDEZ, Marek BELKA, Alfred SANT, Margarida MARQUES, René REPASI, Csaba MOLNÁR, Aurore LALUCQ, Marc ANGEL, Joachim SCHUSTER, Paul TANG, Eero HEINÄLUOMA, Costas MAVRIDES, Pedro SILVA PEREIRA, Pedro MARQUES

Motion for a resolution
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;

2023/01/11
Committee: ECON

2022/2150(INI)

Jonás FERNÁNDEZ, Marek BELKA, Alfred SANT, Margarida MARQUES, René REPASI, Csaba MOLNÁR, Aurore LALUCQ, Marc ANGEL, Joachim SCHUSTER, Eero HEINÄLUOMA, Costas MAVRIDES, Pedro SILVA PEREIRA, Pedro MARQUES

Motion for a resolution
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;

2023/01/11
Committee: ECON

2022/2150(INI)

Jonás FERNÁNDEZ, Marek BELKA, Alfred SANT, Margarida MARQUES, René REPASI, Csaba MOLNÁR, Aurore LALUCQ, Marc ANGEL, Joachim SCHUSTER, Eero HEINÄLUOMA, Costas MAVRIDES, Pedro SILVA PEREIRA, Pedro MARQUES

Motion for a resolution
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;

2023/01/11
Committee: ECON

2022/2150(INI)

Jonás FERNÁNDEZ, Marek BELKA, Alfred SANT, Margarida MARQUES, René REPASI, Csaba MOLNÁR, Aurore LALUCQ, Marc ANGEL, Joachim SCHUSTER, Eero HEINÄLUOMA, Costas MAVRIDES, Pedro SILVA PEREIRA, Pedro MARQUES

Motion for a resolution
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;

2023/01/11
Committee: ECON

2022/2150(INI)

Jonás FERNÁNDEZ, Marek BELKA, Alfred SANT, Margarida MARQUES, René REPASI, Csaba MOLNÁR, Aurore LALUCQ, Marc ANGEL, Joachim SCHUSTER, Paul TANG, Eero HEINÄLUOMA, Costas MAVRIDES, Pedro SILVA PEREIRA, Pedro MARQUES

Motion for a resolution
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;

2023/01/11
Committee: ECON

2022/2150(INI)

Jonás FERNÁNDEZ, Marek BELKA, Margarida MARQUES, René REPASI, Csaba MOLNÁR, Aurore LALUCQ, Marc ANGEL, Joachim SCHUSTER, Paul TANG, Eero HEINÄLUOMA, Pedro SILVA PEREIRA, Pedro MARQUES

Motion for a resolution
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;

2023/01/11
Committee: ECON

2022/2150(INI)

Jonás FERNÁNDEZ, Marek BELKA, Alfred SANT, Margarida MARQUES, René REPASI, Csaba MOLNÁR, Aurore LALUCQ, Marc ANGEL, Joachim SCHUSTER, Paul TANG, Eero HEINÄLUOMA, Pedro SILVA PEREIRA, Pedro MARQUES, Costas MAVRIDES

Motion for a resolution
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;

2023/01/11
Committee: ECON

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Citation 2 a (new)

— having regard to the Council conclusions of 19 November 2018 on the establishment of a Civilian CSDP Compact,

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Recital A

A. whereas the European Union has extensive experience in deploying multinational missions abroad in order to promote peace, security and progress in Europe and in the world; whereas these common security and defence policy (CSDP) missions regularly operate alongside and complement missions of the Member States, United Nations, international organisations and third countries; whereas the simultaneous presence of various actors as well as missions and operations in one conflict area underlines the importance of coordination and division of labour with a view to improving coherence and effectiveness of efforts;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Recital B

B. whereas CSDP missions regularly depend on the effective performance of third-party missions, reliable cooperation, timely information sharing and sincere host nation support and ownership; whereas the lack of any of these can jeopardise the implementation of a CSDP mission’s mandate and could ultimately lead to the withdrawal of EU forces; whereas mandates should set clearly defined objectives for EU missions and operations, including a timetable for their attainment, as well as a comprehensive exit strategy;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Recital C

C. whereas the premature termination of CSDP missions leaves populations unprotected and makes weak host nation authorities vulnerable, thereby opening up opportunities for state and non-state actors, including terrorists and extremists, and including those sponsored by our global competitors; whereas consideration for controlled phasing out of missions and operations or for transfer to other EU instruments is therefore crucial for the achievement of sustainable and comprehensive results in host countries;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Recital D

D. whereas the European Union and its Member States should strive for autonomy when preparing, conducting and sustaining their CSDP missions; whereas the Union should be capable of rapidly deploying multidimensional and modular forces, swiftly reinforcing them where needed and sustaining them as long as required and without depending on third-party support;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Recital G

G. whereas building capabilities and adapting them to military needs requires a common strategic culture and threat perception as well as solutions to be developed and combined in doctrine and concepts, the organisation and structure of forces, regular individual, collective and multinational training, defence materiel development, procurement and life-cycle management, military leadership development, staff recruitment and development, defence infrastructures, installations and facilities, interoperability and standardisation;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Recital K

K. whereas a comprehensive approach is a prerequisite for achieving sustainable results in enhancing security and stability in conflict areas; whereas the EU’s integrated approach provides for the coherent use of different instruments at various stages of conflicts; whereas the integrated approach is also meant to prioritise prevention and promote the human security of local populations over narrow self-interests;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Recital N

N. whereas Article 44 has never been used, and is ambiguous in terms of how it would work in practice in specific cases; whereas Article 44 provides for possibilities to react within an EU framework in a more rapid and flexible manner to various crises with the aim of safeguarding the Union’s values and interests;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Recital P

P. whereas financing of the battlegroups has contributed towards disincentivising their use; whereas the scope of common costs for the rapid deployment capacity should therefore be extended; whereas, in line with Article 41 of the TEU, the administrative and operating expenditure for the RDC should be charged to the Union budget except for expenditure that is covered by the European Peace Facility, notwithstanding the possibility for participating Member States to make free- of-charge contributions to the RDC;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Paragraph 1

1. Welcomes the VP/HR’s proposal, enshrined in the Strategic Compass, to establish an RDC; stresses the importance of the EU having the necessary capabilities and structures to take action rapidly and decisively during crises in order to serve and protect the Union’s citizens, interests and values across the world; underlines, in this regard, the EU Threat Analysis as a starting point for shaping the RDC; calls for needs identified within the regularly updated Threat Analysis and developments in the operating environment to be taken into account in the RDC;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Paragraph 2 – point b

(b) The RDC’s tasks should reflect the needs identified in the EU Threat Analysis and should include, but not be limited to, rescue and evacuation operations, initial entry and initial phase of stabilisation operations, temporary reinforcement of other missions, and acting as a reserve force to secure exit; the Council could assign further tasks as referred to under Article 44 of the TEU, and the duration and scope of the assignments should be consistent with resources allocated to the RDC;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Paragraph 2 – point d

(d) The RDC should frequently simulate scenarios and hold regular joint live exercises in an EU framework and coordinated by the Military Planning and Conduct Capability to increase readiness and interoperability, following uniform training and certification standards such as those in NATO;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Paragraph 3

3. Calls on the Member States to transform the EU battlegroup system to match the needs of the RDC; calls for an extended scope of common costs for the RDC; considers that the EU battlegroups should be funded from the Union budget during their stand-up, stand-by and stand- down phases;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Paragraph 5

5. Points out that the RDC should have permanent operational headquarters under the Military Planning and Conduct Capability in order to ensure its effectiveness; calls, in this regard, for the development of the MPCC into a full command and control structure, capable of planning, controlling and commanding non-executive and executive tasks and operations, as well as joint live exercises;

2022/12/01
Committee: AFET

2022/2145(INI)

Eero HEINÄLUOMA, Javi LÓPEZ

Motion for a resolution
Paragraph 5 a (new)

5a. Underlines the importance of close coordination between military and civilian structures; calls, in this regard, for coordination between the MPCC and the Civilian Planning and Conduct Capability (CPCC) in order to ensure the best synergies and sustainable results following the EU’s integrated approach to external conflicts and crises;

2022/12/01
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 1

1. ~~Underline~~Regrets that the EU’s defence sector is fragmented, which creates strategic vulnerabilities for the Union, Member States and industry; is concerned about the lack of coordination and calls for more strategic cohesion in security and defence policies at Union level; welcomes, in this context, the Commission’s launch of the European Defence Industry Reinforcement through common Procurement Act (EDIRPA) and encourages the Commission and Member States to take this initiative a step further and strive towards a ~~de facto military u~~genuine European Defence Union supported by a strongly articulated common market for defence equipment, followed by a review of the Treaties for more EU competences on critical technologies ~~for defence,~~and innovation in ~~defence, and~~ security and defence affairs;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 2

2. Calls on the relevant EU bodies to consolidate EU cooperative frameworks for developing cutting-edge military capabilities and for EU-level legislation to coordinate Member States’ strategies for critical technologies and to reduce dependencies; underlines, in this regard, the need to collaboratively invest in the research and development of emerging and disruptive technologies;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 2 a (new)

2 a. Regrets that the combined defence research and technology (R&T) spending of Member States in 2020 amounted to only 1.2 percent of their total defence spending, far below the 2 percent benchmark agreed within the framework of the European Defence Agency;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 2 b (new)

2 b. Calls on the Commission to assess the coherence and complementarity of existing EU programmes with a view to identifying support gaps and promoting synergies; calls for this assessment to be taken into account when preparing the next multiannual financial framework (MFF); calls, likewise, for increased funding opportunities for defence to be considered within the context of the upcoming MFF review;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 3

3. Calls on the Commission to encourage Member States to review all defence programmes and policy tools, check if they are still fit for purpose, and summarise findings; ~~suggest~~considers that the European Defence Agency ~~can provide light touch~~(EDA) is well placed to ensure the coherence of innovation activities among European actors in the defence sector; calls, in this regard, for the strengthening of its role in providing support and coordination suggestions~~, includ~~ for Member States, following a strategic assessment of the findings;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 4

4. Calls for a more pragmatic and ~~business-orient~~needs-based approach to military research in order to provide incentives for innovation in military technology, including by reducing or removing barriers to entry into the defence market; further calls for increased support for European companies in emerging technologies to ensure they remain competitive in international markets by ~~relaxing the rules on compliance documentation and by~~ providing ~~tax~~ incentives ~~and~~with a view to stimulating investments;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 4 a (new)

4 a. Underlines the need to direct investments in ways which least distort competition on the Single Market and maintain fair, open and efficient competition in defence procurement; calls, in this regard, on the Commission to ensure the full enforcement of the Procurement Directive in all Member States;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 4 b (new)

4 b. Stresses the need to ensure and increase the participation of start-ups and small and medium-sized enterprises (SME) in defence initiatives; recognises the importance of support for overcoming technological, financial, administrative, regulatory and other barriers for entry to the market; calls for measures to raise awareness about EU programmes and funding opportunities and to provide support and training for facilitating market entry;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 5

5. ~~Underlines the need~~Recognises that the lack of skills constitutes a significant challenge for sustaining and strengthening the European security and defence industries; underlines the need to take an inclusive and accessible approach in reaching out to all available workforce with a view to ensuring a continuous and sustainable supply of skills and human capital; encourages, in this regard, measures to stimulate the development of skills for innovation, research and development (R&D), and fundamental research in critical areas related to emerging technologies; calls on the Commission to encourage Member States to establish and fund defence innovation hubs;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 5 a (new)

5 a. Underlines that many critical technologies for security and defence increasingly originate in the civilian sector and use dual-use components; stresses, in this regard, the need to strengthen synergies between civilian and defence research and innovation with a view to reducing strategic dependencies, facilitating the sharing of knowledge, enhancing the use of dual-use products and broadening funding opportunities;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 5 b (new)

5 b. Notes that the adoption of common standards across sectors has the potential to contribute to cost savings, innovation and increased interoperability; calls, in this regard, on the Commission to accelerate work on the harmonisation of standards between civil, defence and space industries;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 5 c (new)

5 c. Underlines the need for increased resource efficiency, promotion of recycling of materials, and uptake of sustainable technology solutions; calls on the Commission to accelerate work on the development and application of sustainable security and defence technologies;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 5 d (new)

5 d. Recognises that a secure supply of critical materials, such as rare earth materials, components, and technologies is crucial for the European security and defence industries and the EU’s ability to safeguard its interests; underlines the importance of diversifying supply chains as a means of reducing dependencies on individual third countries;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 6

6. Is concerned about the EU’s dependence on individual third countries, such as China, for raw materials and calls on Member States to reduce their vulnerabilities resulting from dependence on non-democratic suppliers of critical technologies and materials, to avoid the emergence of new dependencies which risk weakening security of supply, and to enhance defence production chains in Europe by localising or near-shoring production;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 7

7. Expresses its support for the Observatory of Critical Technologies; calls on Member States to commit and strengthen collaboration within the framework of the Observatory and for it to be further developed and for its analysis capabilities, including on reducing strategic dependencies, to be enhanced; recognises that the Observatory deals with highly sensitive and classified information; calls, in this regard, for setting up safeguards and building trust among stakeholders with a view to enabling the sharing of information and appropriate handling of data; calls on the Commission to implement a project to continuously map the need for critical materials, evaluate the EU’s strategic dependencies, monitor supply and demand and changes in the behaviour or strategy of competitors, and engage in foresight exercises to predict new needs in critical materials; urges the EU to take an active role in international cooperation forums in order to accelerate the diversification of production chains; considers that these efforts should be made jointly with our strategic partners ~~in NATO and included in~~, such as those in NATO and within the framework of a Trade and Technology Council (TTC) working group in order to coordinate diplomatic efforts to secure supplies and ensure alternative sources;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 8

8. Calls for military ~~and strategic~~ interoperability and strategic alignment between the EU and like- minded partners as well as with the United States and NATO, and among Member States, to be ensured, given that the risk of fragmentation is exacerbated by different national requirements and national public spending ~~and~~, investment and procurement schemes;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 8 a (new)

8 a. Underlines the strategic importance of the partnership with the United States and the need to further deepen mutually beneficial cooperation in security and defence;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 8 b (new)

8 b. Underlines the importance of a strong transatlantic bond as reflected in the EU Strategic Compass and in the NATO Strategic Concept; welcomes the signing of the Joint Declaration on EU- NATO Cooperation on 9 January 2023; calls on the EU and NATO to maintain global technological leadership in military capabilities; welcomes the commitment of the Commission and High Representative to explore possibilities for mutually beneficial cooperation on initiatives in the field of critical technologies;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 8 c (new)

8 c. Considers that the EU is well placed to promote responsible activities as well as good governance and technologies globally, including through its partnerships; urges the Commission and Member States to take global leadership in developing standards that reflect and promote the Union’s interests and values;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 9

9. CEmphasises the need to secure and protect critical European infrastructure and ensure sufficient monitoring and surveillance; calls on the Commission to work on a plan and investment scheme in cooperation with Member States to update critical infrastructure, such as nuclear power plants, electricity grids and telecommunications infrastructure (undersea cables), for the digital age, including by adapting it to AI-assisted drone supervision and maintenance and in line with the new Directive on the resilience of critical infrastructure (CER Directive) and the Revised Directive on security of network and information systems (NIS2 Directive); subsequently calls for the elaboration of an EU R&D and manufacturing strategy for advanced drones;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 9 a (new)

9 a. Calls for measures to mitigate risks for companies that produce critical technologies and face acquisition by entities established in third countries; urges Member States to put in place national screening mechanisms for foreign direct investment (FDI) with potential implications for security;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 9 b (new)

9 b. Reiterates its call on the Commission to develop a stronger regulatory framework to the FDI Screening Regulation, including provisions on monitoring and review of takeovers of companies in sectors vital for security and defence technologies by entities under direct or indirect control of non-partner third countries;

2023/02/08
Committee: AFET

2022/2079(INI)

Eero HEINÄLUOMA, Sven MIKSER, Attila ARA-KOVÁCS, Pedro MARQUES, Tonino PICULA, Juozas OLEKAS

Draft opinion
Paragraph 11

11. Urges the Commission and Member States to strengthen cooperation ~~between~~among the European Union's Defence Innovation Scheme (EUDIS), the EDA’s defence innovation hub and NATO’s Defence Innovation Accelerator for the North Atlantic (DIANA) by supporting joint projects, joint research and joint investment in cutting-edge defence technologies.;

2023/02/08
Committee: AFET

2022/2062(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 1

1. Reiterates its call for a capital increase ~~and~~to allow the Bank to reinforce its support to long-term finance, inclusive sustainable growth, social and regional cohesion and support key real economy investments, which otherwise would not have taken place; stresses that the European Investment Bank (EIB) must maintain its ‘AAA’ rating and retain the confidence of the capital markets;

2023/04/03
Committee: BUDG

2022/2062(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 2

2. Welcomes the financial assistance provided to Ukraine; believes that the continued Russian war of aggression against Ukraine requires an urgent mobilisation of additional resources for the immediate recovery, as well as, longer term reconstruction of Ukraine, focusing on building back better infrastructure, such as energy, agriculture and transport infrastructure; expects the EIB to work closely with relevant partners to establish a coordinated approach to support Ukraine's long-term reconstruction; expects the EIB to provide an overview detailing how much of the support provided is new financing and how much is financing stemming from reallocations from existing programmes;

2023/04/03
Committee: BUDG

2022/2062(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 2 a (new)

2 a. In the context of a worsening economic outlook and increased global competition, expects the EIB to address constraints to EU competitiveness such as high energy prices, lack of skills and insufficient investments into innovation and new technologies;

2023/04/03
Committee: BUDG

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 2 b (new)

2 b. Considers InvestEU an important investment tool bringing much needed investment into key areas; however, invites the EIB to assess whether the geographical distribution of financing under InvestEU is balanced;

2023/04/03
Committee: BUDG

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Recital C b (new)

C b. whereas the EIB will support the REPowerEU Plan with an additional EUR 45 billion in loans and equity financing over the next five years;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 3

3. AWelcomes that the Bank has already met its target to devote at least half of its resources to climate action and environmental sustainability reaching €36.5 billion in investments in 2022; awaits the review of the Climate Bank Roadmap ahead of COP28; expects full alignment with the 1.5 degree pathway, ~~including the exclusion of blue hydrogen infrastructure and road and highway financing,~~ and the requirement to conduct a solid assessment of less carbon-intensive alternatives and ‘Scope 3’ emissions;

2023/04/03
Committee: BUDG

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 4

4. ~~Calls for the EIB’~~Welcomes the Bank's planned increase of own higher-risk projects, as detailed in the Operational Plan 2023- 2025; invites the EIB to evaluate whether its derisking architecture for green assets toshould be adapted to take account of the mixed records of commercial viability and the risks associated with public finance, with a view to improving the risk-reward ratios for projects with limited bankability1; calls on the EIB to use its derisking activities to steer private finance towards achieving a just transition. _________________ 1 D’Aprile, P., Engel, H., Helmcke, S., Hieronimus, S., Nauclér, T., Pinner, D., Van Gendt, G., Walter, D. and Witteveen, M., How the European Union could achieve net-zero emissions at net-zero cost, McKinsey & Company, December 2020.

2023/04/03
Committee: BUDG

2022/2062(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 5

5. Reiterates its call to work only with clients ~~and~~that have credible decarbonisation plans and for corporate clients, as well as, financial intermediaries t~~hat~~o have ~~credible decarbonisation plans; opposes~~decarbonisation plans, as soon as possible, and by 2025 at the latest; underlines that rapid, large scale investment is needed for the EU to transition to a climate neutral economy; in this context, welcomes EIB support to REPowerEU of 30 billion euros; believes, however, that the exemptions granted under the Paris Alignment for Counterparties (PATH) framework, in support of REPowerEU~~; calls for a halt to fossil fuel financing~~, must be temporary and well justified; calls on the EIB to ensure that EIB support does not become a subsidy to fossil fuel companies, which have made immense profits on the back of high energy prices; therefore, calls on the Bank to prioritise projects with non-fossil fuel companies, wherever possible; welcomes the Bank's halt to fossil fuel financing and considers that the EIB should limit to a minimum the indirect financing of fossil fuels through its support to REPowerEU;

2023/04/03
Committee: BUDG

2022/2062(INI)

Alfred SANT, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 4 d (new)

4 d. Reaffirms its position that the EIB can and needs to do more to address systemic deficiencies that prevent certain regions or countries from taking full advantage of EIB financial opportunities, inter alia by strengthening its efforts to expand its loan activities by providing technical assistance, capacity-building and advisory support, especially in innovation, digitalisation, infrastructure, SME support and projects aimed at generating high-quality employment, and by prioritising projects that reduce inequalities and promote social diversity and inclusion;

2023/03/29
Committee: ECON

2022/2062(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 5 a (new)

5 a. Highlights that the security of supply of critical raw materials is crucial both for the green and digital transitions, as well as, for the defence sector and for the EU industrial base in general; emphasises a circular economy approach to critical raw materials, based on the recycling and re-use of materials, to reduce EU dependence on third countries; calls, therefore, on the EIB to invest more in the critical raw materials sector to help diversify the supply of both primary and secondary raw materials and to develop circular economy solutions, in particular R&D for alternative materials, such as bio-based materials;

2023/04/03
Committee: BUDG

2022/2062(INI)

Alfred SANT, Aurore LALUCQ, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 8 b (new)

8 b. Stresses that public budgets and public banks will not be able to bridge the investment gap in the energy sector alone especially when considering the deplorable fact that large EU banks are still exposed to EUR 223 billion in fossil fuel assets, and that the EU is still lagging behind its established climate goals;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 6

6. Calls on EIB Global to devise a strategy centred on development additionality, to deliver concrete positive outcomes on the ground, while ensuring additionality of EIB finance; highlights that EIB Global activities should be aligned with EU strategic interests and external policy objectives; asks the EIB to ensure a coordinated approach with other actors contributing to the European financial architecture for development, in order to deliver a stronger development impact; recalls furthermore that the successful implementation of EIB global requires an adequate level of in-house staff based on the ground, including local workers;

2023/04/03
Committee: BUDG

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 6 a (new)

6 a. Calls for the EIB to ensure that investments clearly benefit recipient countries and societies, creating local jobs and alleviating poverty; believes that recipient country actors such as public authorities, civil society and private sector companies should be included in the decision-making and implementation of Global Gateway projects;

2023/04/03
Committee: BUDG

2022/2062(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 7

7. ~~Is concerned that~~Notes that allegedly the EIB has, at least once, failed to conduct a full inquiry into allegations of bribery and misuse of funds involving a financial intermediary outside the EU; ~~calls on the EIB to reopen all such case~~notes that the EIB has assessed the case three times and that the case has been referred to OLAF twice, with the case being dismissed; however, calls on the EIB to strengthen its internal mechanisms to fight fraud and corruption, and improve transparency and control over intermediated operations;

2023/04/03
Committee: BUDG

2022/2062(INI)

Alfred SANT, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 15

15. Highlights the fact that support to SMEs and mid-caps must be increased further from current levels, particularly in the context of high energy prices ~~and~~, rising raw material costs and growing borrowing costs; stresses that SMEs often have limited administrative resources and so benefit from having financing channels that are easy to access;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 23

23. Welcomes the introduction of the EIB’s new transport lending policy in July 2022 and calls for its swift implementation; recalls the need for a higher level of investment towards the decarbonisation of the maritime and aviation system;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Aurore LALUCQ, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES

Motion for a resolution
Paragraph 23 a (new)

23 a. Asks the EIB to give particular attention when it comes to funding decisions relevant to insular and peripheral regions in view of their struggle to comply with requirements relevant to the green deal while simultaneously maintaining and increasing their connectivity with the rest of the EU;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Subheading 4 a (new)

Social Elements

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Joachim SCHUSTER, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Irene TINAGLI, Aurore LALUCQ, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
Paragraph 32

32. Expresses once more its serious concerns about allegations regarding harassment, the working environment and working conditions at the EIB; notes the March 2022 ruling by the General Court on a harassment case in the EIB [KF vs EIB (T-299/20)] in which the decision of the EIB President that no harassment took place was annulled; recognises that efforts have been made by the EIB to address these and other relevant staff issues; urges the EIB to ensure that a policy of zero-tolerance towards all types of harassment is effectively implemented, including preventive and protective measures and proper and reliable complaint and victim support mechanisms; urges the EIB’s management to engage in genuine dialogue with staff representatives in order to address their concerns; deplores the fact that no trade union is recognised at the EIB and that the staff delegation has no power to act in the case of negotiations; calls on the EIB management to observe at the very least core ILO values such as freedom of association and the right to collective bargaining; is concerned that the apparent dysfunctional relationship between the EIB’s management and its staff might have a negative impact on the Bank’s operations;

2023/03/29
Committee: ECON

2022/2062(INI)

Alfred SANT, Margarida MARQUES, Aurore LALUCQ, Katarína ROTH NEVEĎALOVÁ, Eero HEINÄLUOMA, Costas MAVRIDES, Jonás FERNÁNDEZ

Motion for a resolution
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; ~~not~~welcomes 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;

2023/03/29
Committee: ECON

2022/0405(COD)

Jonás FERNÁNDEZ, Pedro MARQUES, Margarida MARQUES, Paul TANG, Eero HEINÄLUOMA, René REPASI

Proposal for a directive
Recital 2

~~(2) Directive 2014/65/EU and Commission D~~delegated Directive (EU) 2017/59330 set out the conditions under which the provision of investment research by third parties to investment firms providing portfolio management or other investment or ancillary services is not to be regarded as an inducement. In order to foster more investment research on companies in the Union, in particular small and medium capitalisation companies, and to bring those companies greater visibility and more prospect of attracting potential investors, it is necessary to introduce some amendments to that Directive. __________________ 30 Commission Delegated Directive (EU) 2017/593 of 7 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to safeguarding of financial instruments and funds belonging to clients, product governance obligations and the rules applicable to the provision or reception of fees, commissions or any monetary or non-monetary benefits (OJ L 87, 31.3.2017, p. 500).

2023/07/11
Committee: ECON

2022/0405(COD)

Jonás FERNÁNDEZ, Pedro MARQUES, Margarida MARQUES, Paul TANG, Eero HEINÄLUOMA, René REPASI

Proposal for a directive
Recital 3

(3) The provisions concerning research laid down in Directive 2014/65/EU require investment firms to separate payments which they receive as brokerage commissions from the compensation perceived for providing investment research (‘research unbundling rules’), or to pay for investment research from their own resources and assess the quality of the research they purchase based on robust quality criteria and the ability of such research to contribute to better investment decisions. In 2021, those rules have been amended by Directive (EU) 2021/338 of the European Parliament and of the Council31 to allow for bundled payments for execution services and research for small and medium capitalisation companies below a market capitalisation of EUR 1 billion. The decline of investment research has, however, not slowed down. __________________ 31 Directive (EU) 2021/338 of the European Parliament and of the Council of 16 February 2021 amending Directive 2014/65/EU as regards information requirements, product governance and position limits, and Directives 2013/36/EU and (EU) 2019/878 as regards their application to investment firms, to help the recovery from the COVID-19 crisis (OJ L 68, 26.2.2021, p. 14).deleted

2023/07/11
Committee: ECON

Proposal for a regulation
Recital 3

(3) The Versailles Declaration of 10-11 March 2022 of the Heads of States and Governments invited the Commission to propose by the end of May a REPowerEU plan to phase out the dependency on Russian fossil fuel imports, which was subsequently reiterated in the European Council Conclusions of 24-25 March 2022. This should be done well before 2030 in a way that is consistent with the EU’s Green Deal and the climate objectives for 2030 and 2050 as well as the Paris agreement- compatible greenhouse gas budget enshrined in the European Climate Law. Regulation (EU) 2021/241 should therefore be amended to enhance its ability to support reforms and investments dedicated to diversifying energy supplies~~, in particular~~ by expanding renewable energy production and phasing out fossil fuels, thereby strengthening the strategic autonomy of the Union alongside an open economy. Support should also be given to reforms and investments increasing the energy efficiency of the Member States’ economies.

2022/09/29
Committee: BUDG ECON

2022/0164(COD)

Ilan DE BASSO, Eero HEINÄLUOMA

Eero HEINÄLUOMA

Draft opinion
Paragraph 6 a (new)

6 a. Notes that EUR 280 billion out of the EUR 300 billion of investments announced under the Global Gateway initiative are not covered by the EU budget, including EUR 135 billion from EFSD+ and EUR 145 billion from European financial and development finance institutions; notes therefore that the initiative depends heavily on its capacity to leverage funds on the capital markets, which will not be immediately delivered; regrets that no information is disclosed so far regarding the NDICI amounts to be dedicated to the Global Gateway under the external action guarantee;

2022/04/27
Committee: BUDG

Proposal for a directive
Article 1 – paragraph 1 – point 4 – point –a 2 (new)

Directive 2014/65/EU
Article 27 – paragraph 1 – third suparagraph

(-a2) In paragraph 1, third subparagraph is replaced by the following: "For the purposes of delivering best possible result in accordance with the first subparagraph where there is more than one competing venue to execute an order for a financial instrument, in order to assess and compare the results for the client that would be achieved by executing the order on each of the execution venues listed in the investment firm’s order execution policy that is capable of executing that order, the investment firm’s own commissions and the costs for executing the order on each of the eligible execution venues shall be taken into account in that assessment. Investment firms shall not request or propose to clients to choose a venue for order execution. "

2022/10/20
Committee: ECON

Jonás FERNÁNDEZ, Paul TANG, Eero HEINÄLUOMA

Proposal for a directive
Article 1 – paragraph 1 – point 20

8. EBA shall develop draft implementing technical standards on standard forms, templates and procedures for the provision of the information referred to in paragraph 2. When developing the draft implementing technical standards, EBA shall take into account existing practices and tools.

2022/08/22
Committee: ECON

2021/0341(COD)

Jonás FERNÁNDEZ, Paul TANG, Eero HEINÄLUOMA

Eero HEINÄLUOMA, Kira Marie PETER-HANSEN

Proposal for a directive
Recital 2 a (new)

(2a) Financial Intelligence Units (FIUs) should endeavour to exchange financial information or financial analysis to prevent and combat money laundering, the associated predicate offences and terrorist financing more effectively as provided in Directive (EU) 2015/849.

2022/01/25
Committee: ECON

2021/0244(COD)

Eero HEINÄLUOMA, Kira Marie PETER-HANSEN

Proposal for a directive
Article 1 – paragraph 1 – point -1 (new)

Directive (EU) 2019/1153
Article 1 – paragraph 1

(-1) Article 1(1) is replaced by the following: "This Directive lays down measures to facilitate access to and the use of financial information and bank account information by competent authorities for the prevention, detection, investigation or prosecution of serious criminal offences. It also lays down measures to facilitate access to law enforcement information by Financial Intelligence Units (‘FIUs’) for the prevention and combating of money laundering, associate predicate offences and terrorist financing ~~and measures to facilitate cooperation between FIUs.~~ .” Or. en (Directive 2019/1153)

2022/01/25
Committee: ECON

2021/0244(COD)

Eero HEINÄLUOMA, Kira Marie PETER-HANSEN

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Paul TANG, Jonás FERNÁNDEZ

Article 29a Binding mediation in the event of disagreements 1. In the specified cases laid down in Directive [please insert reference to the 6th Anti-money Laundering Directive] and without prejudice to the powers laid down in section III, the Authority may assist the competent authorities in reaching an agreement in accordance with the procedure set out in paragraphs 2 to 4 of this Article in either of the following circumstances: (a) at the request of one or more of the competent authorities concerned where a competent authority disagrees with the procedure or content of an action, proposed action, or inactivity of another competent authority; (b) on its own initiative, where on the basis of objective reasons, disagreement can be determined between competent authorities. In cases where Union law requires a joint decision to be taken by competent authorities and where, in accordance with those acts, the Authority may assist, on its own initiative, in reaching an agreement in accordance with the procedure set out in paragraphs 2, 3 and 4 of this Article, the competent authorities concerned, a disagreement shall be presumed in the absence of a joint decision being taken by those authorities within the time limits set out in those acts. 2. The competent authorities concerned shall notify the Authority without undue delay that an agreement has not been reached in the following cases: (a) where a time limit for reaching an agreement between competent authorities has been provided for in Union law, and either of the following occurs: (i) the time limit has expired; or (ii) at least two competent authorities concerned conclude that a disagreement exists, on the basis of objective reasons; (b) where no time limit for reaching an agreement between competent authorities has been provided for in the legislative acts referred to in Article 1(2), and either of the following occurs: (i) at least two competent authorities concerned conclude that a disagreement exists on the basis of objective reasons; or (ii) two months have elapsed from the date of receipt by a competent authority of a request from another competent authority to take certain action in order to comply with those acts and the requested authority has not adopted a decision that satisfies the request. 3. The Executive Board shall assess whether the Authority should act in accordance with paragraph 1. Where the intervention is on the Authority’s own initiative, the Authority shall notify the competent authorities concerned of its decision regarding the intervention. Pending the Authority’s decision, in cases where Union law requires a joint decision to be taken, all competent authorities involved in the joint decision shall defer their individual decisions. Where the Authority decides to act, all the competent authorities involved in the joint decision shall defer their decisions until the procedure set out in paragraphs 4 and 5 is concluded. 4. The Authority shall set a time limit for conciliation between the competent authorities taking into account any relevant time periods specified in Union law and the complexity and urgency of the matter. At that stage the Authority shall act as a mediator. 5. Where the competent authorities concerned fail to reach an agreement within the conciliation phase referred to in paragraph 4, the Authority may take a decision requiring those authorities to take specification, or to refrain from certain action, in order to settle the matter, and to ensure compliance with Union law. The decision of the Authority shall be binding on the competent authorities concerned. The Authority’s decision may require competent authorities to revoke or amend a decision that they have adopted or to make use of the powers which they have under the relevant Union law. The Authority shall notify the competent authorities concerned of the conclusion of the procedures under paragraphs 4 and 5 together with, where applicable, its decision taken under paragraph 5. 6. Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the decision of the Authority, and thereby fails to ensure that a financial institution or, in the context of matters relating to the prevention and countering of money laundering or of terrorist financing, a financial sector operator complies with requirements directly applicable to it by virtue of the relevant Union law, the Authority may adopt an individual decision addressed to that financial institution or financial sector operator requiring it to take necessary action to comply with its obligations under Union law, including the cessation of any practice. The Authority may also adopt a decision in accordance with the first subparagraph of this paragraph where the relevant requirements of the relevant Union law are not directly applicable to financial sector operators. To that effect, the Authority shall apply relevant Union law, and where such Union law is composed of Directives, national law to the extent that it transposes those Directives. Where the relevant Union law is composed of Regulations and where those Regulations explicitly grant options for Member States, the Authority shall apply also national law to the extent that such options have been exercised. 7. Decisions adopted under paragraph 6 shall prevail over any previous decision adopted by the competent authorities on the same matter. Any action by the competent authorities in relation to facts which are subject to a decision pursuant to paragraph 5 or 6 shall be compatible with those decisions. 8. The Chair of the Authority shall set out the nature and type of disagreements between competent authorities, the agreements reached and the decisions taken to settle such disagreements in the annual report of the Authority.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Jonás FERNÁNDEZ

Proposal for a regulation
Article 30 – title

~~Requests to act~~Actions by the Authority in exceptional circumstances

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Paul TANG

Proposal for a regulation
Article 30 a (new)

Article 30a Breach of Union Law 1. Where a supervisory authority has not applied measures laid down in Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] or the national legislation transposing that Directive, or has applied measures in a way which appears to be a breach of Union law, in particular by failing to ensure that an entity under its supervision satisfies the requirements laid down in Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final], the Authority shall act in accordance with the powers set out in paragraphs 2, 3, 4, 6 and 7 of this Article. 2. Upon request from one or more supervisory authorities, the European Parliament, the Council, the Commission, or on its own initiative, including when this is based on well-substantiated information from natural or legal persons, and after having informed the supervisory authority concerned, the Authority shall outline how it intends to proceed with the case and, where appropriate, investigate the alleged breach or non-application of Union law. The supervisory authority shall, without delay, provide the Authority with all information which the Authority considers necessary for its investigation including information on how the Union acts or in that legislation referred to in Article 1(2) are applied in accordance with Union law. Whenever requesting information from the supervisory authority concerned has proven, or is deemed to be, insufficient to obtain the information that is deemed necessary for the purposes of investigating an alleged breach or non- application of Union law, the Authority may, after having informed the supervisory authority, address a duly justified and reasoned request for information directly to other supervisory authorities. The addressee of such a request shall provide the Authority with clear, accurate and complete information without undue delay. 3. The Authority may, not later than six months from initiating its investigation, address a recommendation to the supervisory authority concerned setting out the action necessary to comply with Union law. Before issuing such a recommendation, the Authority shall engage with the supervisory authority concerned, where it considers such engagement appropriate in order to resolve a breach of Union law, in an attempt to reach agreement on the actions necessary for compliance with Union law. The supervisory authority shall, within ten working days of receipt of the recommendation, inform the Authority of the steps it has taken or intends to take to ensure compliance with Union law. 4. Where the supervisory authority has not complied with Union law within one month from receipt of the Authority’s recommendation, the Commission may, after having been informed by the Authority, or on its own initiative, issue a formal opinion requiring the supervisory authority to take the action necessary to comply with Union law. The Commission’s formal opinion shall take into account the Authority’s recommendation. The Commission shall issue such a formal opinion within three months after the adoption of the recommendation. The Commission may extend this period by one month. The Authority and the supervisory authority shall provide the Commission with all necessary information. 5. The supervisory authority shall, within ten working days of receipt of the formal opinion referred to in paragraph 5, inform the Commission and the Authority of the steps it has taken or intends to take to comply with that formal opinion. 6. Where a supervisory authority does not comply with the formal opinion within the period specified therein, to remedy such non-compliance in a timely manner, the Authority may adopt an individual decision addressed to a non- selected obliged entity requiring it to take all necessary action to comply with its obligations under Union law. To that effect, the Authority shall apply all relevant Union law, and, where that Union law is composed of Directives, national law to the extent that it transposes those Directives. Where the relevant Union law is composed of Regulations and where those Regulations explicitly grant options for Member States, the Authority shall apply also national law to the extent that such options have been exercised. The decision of the Authority shall be in conformity with the formal opinion issued by the Commission pursuant to paragraph 4. 7. Decisions adopted in accordance with paragraph 6 shall prevail over any previous decision adopted by the supervisory authority on the same matter. When taking action in relation to issues which are subject to a formal opinion pursuant to paragraph 5 or to a decision pursuant to paragraph 7, supervisory authorities shall comply with the formal opinion or the decision, as the case may be.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Jonás FERNÁNDEZ

Proposal for a regulation
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).

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eero HEINÄLUOMA, Margarida MARQUES

Proposal for a regulation
Chapter II – Section 5 – title

5 ~~OVERSIGHT~~INDIRECT SUPERVISION OF NON- FINANCIAL SECTOR

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES, Paul TANG, Luis GARICANO, Ernest URTASUN

Proposal for a regulation
Article 31 a (new)

Article 31a Establishment of AML colleges in the non-financial sector 1. The Authority shall ensure that supervision measures laid down in Article 34 and 34a of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423final] also apply to non- financial supervisors in the supervision of groups of obliged entities other than credit or financial institutions. Member States shall also ensure that in cases where obliged entities other than credit and financial institutions are part of structures which share common ownership, management or compliance control, including networks or partnerships, cooperation and exchange of information between supervisors is facilitated. 2. Following the adoption of the technical regulatory standards referred to in Article 34a of Directive [please insert reference –proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final], the Authority shall promote the establishment of AML supervisory colleges. Those colleges may be set up following the identification of groups of obliged entities other than credit or financial institutions which are part of structures which operate in at least two Member States and share common ownership, management, or compliance control, including networks or partnerships. 3. To that end, the Authority shall: (a) propose to establish colleges, to convene and organise the meetings of colleges where deemed appropriate; (b) assist in the organisation of college meetings, where requested by the relevant supervisory authorities; (c) assist in the organisation of joint supervisory plans and joint examinations; (d) encourage supervisory authorities to share all relevant information to facilitate the work of the college; (e) promote effective and efficient supervisory practices and activities, including evaluating the risks to which obliged entities are or might be exposed; (f) mediate and assist in resolving conflicts between participating supervisory authorities; (g) identify instances where the absence of effective and efficient supervisory practices and activities in the context of AML colleges derives from inadequate or lack of transposition of EU law into national legislation, and duly report those instances to the Commission. 5. Such colleges may be used for exchanging information, providing mutual assistance or coordinating the supervisory approach to the obliged entity, including, where relevant, the taking of appropriate and proportionate measures to address serious breaches of the requirements of Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final] that are detected in the jurisdiction of a supervisor participating in the college. 6. The AML colleges shall be composed of permanent members and, when unanimously agreed by them, observers. The Authority and supervisors of the non-financial sector, including the authorities overseeing self-regulatory bodies appointed by Member States in accordance with Article 36 of Directive [please insert reference – proposal for6th Anti-Money Laundering Directive - COM/2021/423 final] shall be permanent members. 7. For the purposes of paragraph 2, the staff of the Authority shall have full participation rights in all AML supervisory colleges of the non-financial sector.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Margarida MARQUES

Proposal for a regulation
Article 32 a (new)

Article 32a Requests to step-in by a supervisory authority in the non-financial sector 1. A supervisory authority in the non- financial sector may request the Authority to assume the direct supervision of obliged entities in the non-financial sector, including all relevant tasks and powers to that effect. 2. The supervisory authority in the non-financial sector request shall: (a) identify the obliged entity in the non-financial sector which, in the view of the relevant supervisory authority, should be under direct supervision of the Authority; (b) describe the reasoning for its request, including a justification to why the Authority’s direct supervision of the relevant obliged entity is of added-value; (c) indicate a time limit, which shall not exceed three years, for the requested transfer of the relevant tasks and powers. 3. The request shall be accompanied by a report indicating the supervisory history and risk profile of the relevant obliged entity. 4. The Authority shall duly consider the request and consult with the supervisory authority concerned prior to the Executive Board’s final decision as to whether the transfer of competences is justified. 5. If the Authority disagrees with the request, it shall notify the supervisory authority in the non-financial sector about its decision, including a written justification that addresses the reasoning provided in accordance with paragraph 2, point (b). 6. If the Authority agrees with the request, it shall notify the authority in the non-financial sector about its decision, and request the Commission about the transfer of relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the obliged entity in the non-financial sector from the supervisory authority concerned to the Authority. 7. The request from the Authority to the Commission pursuant to paragraph 5 shall: (a) identify the obliged entity in the non-financial sector which, in the view of the supervisory authority in the non- financial sector, should be under direct supervision of the Authority; (b) describe the reasoning of the relevant supervisory authority’s initial request and the measures that the Authority intends to take in relation to the relevant obliged entity upon the transfer of the relevant tasks and powers, (c) indicate a time limit, which shall not exceed three years, for the requested transfer of the relevant tasks and powers; 8. The Commission shall have one month from the date of receipt of the request from the Authority to adopt a decision whether to authorise the transfer of the relevant tasks and powers or to oppose it. The decision shall be notified to the Authority, which shall immediately inform the relevant supervisory authority and obliged entity thereof. 9. On the tenth working day after the notification of the decision authorising the transfer of tasks and powers, the obliged entity referred to in paragraph 2 shall fall under direct supervision of the Authority. The Commission decision shall set a time-limit for the exercise of these tasks and powers, upon the expiry of which they shall be automatically transferred back to the supervisory authority concerned. 10. To that effect, the Authority shall apply relevant Union law, and where such Union law is composed of Directives, national law to the extent that it transposes those Directives. Where the relevant Union law is composed of Regulations and where those Regulations explicitly grant options for Member States, the Authority shall apply also national law to the extent that such options have been exercised.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA

Proposal for a regulation
Article 32 b (new)

Article 32b Request to act in exceptional circumstances 1. Supervisory authorities in the non- financial sector shall notify the Authority where the situation of any obliged entity in the non-financial sector with regard to its compliance with applicable requirements and its exposure to money laundering and terrorism financing risks deteriorates rapidly or significantly, especially where such deterioration could lead to significant harm to the integrity or reputation of the Member State where that entity operates, several Member States or of the Union as a whole. 2. Following the notification process laid down in paragraph 1, or specific adverse events or developments brought to the attention of the Authority, in particular through the notification mechanism under Article 76, the Authority may, where it has indications of possible or actual breaches by a obliged entity in the non-financial sector, request the relevant supervisory authority to: (a) investigate possible breaches of Union law, and where such Union law is composed of Directives or explicitly grants options for Member States, breaches of national law to the extent that it transposes Directives or exercises options granted to Member States by Union law, by an obliged entity; and (b) consider imposing sanctions in accordance with directly applicable Union law or national law transposing Directives on that entity in respect of such breaches. Where necessary, the Authority may also request a supervisory authority in the non-financial sector to adopt an individual decision addressed to that entity requiring it to undertake all necessary actions to comply with its obligations under directly applicable Union law or under national law, to the extent that it transposes Directives or exercises options granted to Member States by Union law, including the cessation of any practice. 3. The supervisory authority concerned shall comply with any request addressed to it in accordance with paragraph 2 and shall inform the Authority, as soon as possible and within ten working days from the day of the notification of such request at the latest, of the steps it has taken or intends to take to comply with that request. 4. Where the supervisory authority concerned does not comply with the request referred to in paragraph 2 and does not inform the Authority of the steps it has taken or intends to take to comply with the request within ten days from the day of the notification of the request, the Authority may request the Commission to grant permission to transfer the relevant tasks and powers referred to in Article 5(2) and Article 6(1) related to direct supervision of the obliged entity in the non-financial sector from the supervisory authority concerned to the Authority. 5. The request from the Authority shall contain: (a) a description of the potential or actual breaches of the directly applicable requirements by an identified obliged entity in the non-financial sector and a justification that such breaches fall within the scope of competence of the Authority; (b) a justification why the request to the supervisory authority in the non- financial sector did not result in any action taken within the set time-limit; (c) a time limit, which shall not exceed three years, for the requested transfer of the relevant tasks and powers; (d) a description of the measures that the Authority intends to take in relation to the obliged entity in the non-financial sector upon the transfer of the relevant tasks and powers to address the possible or material breaches referred to in paragraph 2. 6. The Commission shall have one month from the date of receipt of the request from the Authority to adopt a decision whether to authorise the transfer of the relevant tasks and powers or to oppose it. The decision shall be notified to the Authority, which shall immediately inform the relevant supervisory authority and obliged entity thereof. 7. On the tenth working day after the notification of the decision authorising the transfer of tasks and powers, the obliged entity in the non-financial sector shall fall under direct supervision of the Authority. The Commission decision shall set a time-limit for the exercise of these tasks and powers, upon the expiry of which they shall be automatically transferred back to the supervisory authority concerned.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 36 a (new)

Article 36a Peer reviews of FIUs 1. The Authority shall periodically conduct peer reviews of the fulfilment by FIUs of requirements laid down in Chapter III of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final] 2. The Authority shall develop methods to allow for an objective assessment and comparison between the FIUs reviewed. 3. The peer reviews under this Article shall be carried out by the staff of the Authority in cooperation with the relevant staff of the FIUs. 4. The peer review shall include an assessment of, but shall not be limited to: (a) the adequacy of powers and financial, human and technical resources, the degree of independence, the governance arrangements and professional standards of FIUs to ensure the effective application of Chapter III of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final]; (b) the effectiveness and the degree to which FIUs have direct and timely access to information as required by Article 18 of Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final]; (c) the degree and extent to which suspicious transaction reports by obliged entities are duly followed-up on and investigated; (d) the degree and extent to which FIUs exchange information, respond to requests and cooperate with other FIUs in a timely and efficient manner, including through joint analysis requests; (e) the degree and extent to which feedback provided by FIUs to obliged entities is meaningful and useful to help obliged entities report suspicious transactions and focus customer due diligence on a risk-sensitive basis (f) the application of best practices developed by FIUs whose adoption might be of benefit for other FIUs; 4. The Authority shall produce a report setting out the results of the peer review. That peer review report shall be prepared by the staff of the Authority, in cooperation with the relevant staff of the FIUs, and adopted by the Executive Board, which shall share it in a timely manner with the FIU under review. The report shall explain and indicate the follow-up measures that are deemed appropriate, proportionate and necessary as a result of the peer review. The FIUs shall make every effort to comply with any guidelines and recommendations issued, in accordance with Article 43. 5. The Authority shall publish a summary of the findings of the peer review on its website. 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 staff of the Authority, in cooperation with the relevant staff of the FIUs, and adopted by the Executive Board, which shall share it in a timely manner with the FIU under review. The follow-up report shall include an assessment of the adequacy and effectiveness of the actions undertaken by the FIU that were subject to the peer review in response to the follow-up measures of the peer review report. The Authority shall share it in a timely manner with the FIU under review and then publish the findings of the follow-up report on its website. 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 FIU 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, the Authority may decide to carry out additional peer reviews.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 37 – paragraph 5 a (new)

5a. The Executive Board may suspend access to FIU.net for a specific FIU where the report of the peer review in accordance with Article 36a concludes that requirements relating to the independence, integrity, professionalism, confidentiality or security of the FIU, as set out in Article 17 of the [please insert reference – proposal for 6th Anti-Money Laundering Directive - COM/2021/423 final], have not been fulfilled.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA, Paul TANG, Jonás FERNÁNDEZ

Proposal for a regulation
Article 76 a (new)

Article 76a Protection of whistleblowers 1. The Authority shall put in place effective and reliable mechanisms to encourage the reporting of potential and actual breaches of this Regulation, Regulation [please insert reference – proposal for Anti-Money Laundering Regulation - COM/2021/420final] and Directive [please insert reference – proposal for 6th Anti-Money Laundering Directive -COM/2021/423 final].For that purpose, the Authority shall provide secure communication channels for the reporting referred to in the first subparagraph. Such channels shall ensure that the identity of persons providing information is known only to the Authority. The mechanisms referred to in the first subparagraph of this paragraph shall include at least: (a) specific procedures for the receipt of reports on breaches and their follow- up; (b) appropriate protection for employees or persons in a comparable position, of obliged entities who report breaches committed within the obliged entity; (c) appropriate protection for the accused person; (d) protection of personal data concerning both the person who reports the breaches and the natural person who is allegedly responsible for a breach, in compliance with the principles laid down in Regulation (EU)2016/679; (e) clear rules that ensure that confidentiality is guaranteed in all cases in relation to the person who reports the breaches committed within the obliged entity, unless disclosure is required by national law in the context of further investigations or subsequent judicial proceedings. 2. The Authority shall ensure that individuals, including employees and representatives of the obliged entity and financial supervisors, who report to the Authority actual or potential breaches of in accordance with the first subparagraph, are legally protected from being exposed to threats, retaliatory or hostile action, and in particular from adverse or discriminatory employment actions in accordance with Directive (EU) 2019/1937 of the European Parliament and of the Council. 3. The Authority shall ensure that individuals who are exposed to threats, hostile actions, or adverse or discriminatory employment actions for reporting to the Authority actual or potential breaches in accordance with this first subparagraph are entitled to present a complaint to the Authority in a safe manner. The Authority shall also ensure that such individuals have the right to an effective remedy to safeguard their rights under this paragraph. 4. Where the Authority deems that the submitted information contains evidence or significant indications of a material breach, it shall provide feedback to the reporting person.

2022/06/29
Committee: ECON LIBE

2021/0240(COD)

Pedro MARQUES, Aurore LALUCQ, Elisabetta GUALMINI, Eva KAILI, Eero HEINÄLUOMA

Proposal for a regulation
Article 77 – paragraph 1 a (new)

1a. By ... [12 months after the date of entry into force of this Regulation], the Authority shall conclude a memorandum of understanding with the authorities referred to in paragraph 1 setting out in general terms how they will cooperate and exchange information in the performance of their supervisory tasks under Union law in relation to obliged entities.

2022/06/29
Committee: ECON LIBE

2021/0239(COD)

Eero HEINÄLUOMA, Damien CARÊME, Kira Marie PETER-HANSEN

Proposal for a regulation
Recital 15

(15) ~~Some categories of traders in goods are particularly exposed to money laundering and terrorist financing risks due to the~~ The trading of high value goods and services such as gold, diamonds and other precious stones, or high-value lifestyle goods, such as cultural artefacts, luxury cars, jewellery, watches, yachts and aircrafts are particularly exposed to very significant money laundering risks regardless of the means of payment. Criminal organisations have recurrently used this method, whigch ~~value that the small, transportable goods they deal with contain. For this reason, persons dealing in precious metals and precious stone~~is easily accessible and does not require specific expertise, to convert criminal proceeds into goods that are in high demand in foreign markets. For this reason, persons dealing in precious metals and precious stones, jewels and watches, work of art as well as any other high value goods or services above 10 000 euros should be subject to AML/CFT requirements.

2022/07/04
Committee: ECON LIBE

2021/0239(COD)

Ernest URTASUN, Damien CARÊME, Eero HEINÄLUOMA, Paul TANG, Luis GARICANO, Kira Marie PETER-HANSEN, Aurore LALUCQ, Ramona STRUGARIU, Dragoş PÎSLARU

Proposal for a regulation
Recital 23 a (new)

(23a) The Union legislation does not currently include provisions that describe the systems and controls that financial institutions, payment service providers or crypto-asset service providers should have to have in place to comply with targeted financial sanctions obligations. Where the legislation provides for certain exemptions from customer due diligence measures or from the obligation to obtain information on the payer or the payee in the context of funds transfers, there may be an apparent conflict between risk- based exemptions and the absolute requirement to comply with applicable sanctions regimes, which is an obligation of result. According to the assessment conducted by the European Banking Authority, there are different interpretations across Member States on the obligations on payment service providers to screen the payer or the payee against sanctions lists, as each payment service provider is expected to screen only its customer in some Member States, whereas, in others, each payment service provider has to screen both the payer and the payee. This situation could create regulatory arbitrage and gaps which could weaken the Union targeted financial sanctions regime. It is therefore necessary to establish common standards on the measures that financial institutions, payment service providers or crypto-asset service providers should take to comply with their financial sanctions obligations and clarify how they should comply with their obligations under the Union targeted financial sanctions regime, in particular in situations where certain exemptions from customer due measures and from the obligation to obtain information on the payer or the payee or on the originator or the beneficiary in the context of transfers of funds or crypto-assets are applied, as well as in situations where it may not be possible to identity with sufficient certainty the customer or beneficial owner, in particular when a transaction or a transfer involves an unhosted wallet or an unregulated entity.

2022/07/04
Committee: ECON LIBE

2021/0239(COD)

Ernest URTASUN, Damien CARÊME, Eero HEINÄLUOMA, Paul TANG, Luis GARICANO, Aurore LALUCQ, Ramona STRUGARIU, Dragoş PÎSLARU, Kira Marie PETER-HANSEN

Proposal for a regulation
Recital 24 a (new)

(24a) Designations made by the United Nations Security Council which impose restrictive measures in response to a threat are not immediately enforceable by the Union. Those UN sanctions become eventually applicable in the Union not immediately, but following a due process leading to the adoption of Union measures imposing targeted financial sanctions against designated persons. During the period where the information on sanctioned persons becomes public, and the actual application of EU targeted financial sanctions, there is a risk of asset flight. For this reason, some Member States decided at national level that UN designations become immediately applicable until the adoption of similar measures by the Union while other Member States may rely on preventative measures. However, there are no common rules at Union level and fragmented measures at national level. Hence, it is necessary to ensure appropriate common mitigating measures when no appropriate measures are in place at national level in order to manage the money laundering and terrorist financing risks identified following a UN designation. UN designations are made following a threat to international peace that can emanate from terrorist activities, violation of human rights and other predicate offences. Obliged entities should consider the enhanced risks of money laundering and terrorist financing posed by persons designated by the UN pending the review of this information of the Union, or before the actual entering into force of Union targeted financial sanctions. During this period time, obliged entities should report to the competent FIU any business relationship or transaction with persons considering the suspicion of money laundering, terrorist financing or predicate offence emanating from the UN listing. The FIU should decide to suspend any transaction, withhold its consent, or suspend any account until the review of the information and the adoption, or not, of targeted financial sanctions by the Union. Such measure is without prejudice of the possibility of Member States to apply temporary measures which ensure a higher level of protection of the financial system of the Union such as temporary measures applying directly UN designations pending the adoption of measures by the Union.

2022/07/04
Committee: ECON LIBE

2021/0239(COD)

Eero HEINÄLUOMA, Damien CARÊME, Kira Marie PETER-HANSEN

Proposal for a regulation
Article 3 – paragraph 1 – point 3 – point e a (new)

(ea) persons trading in goods and services, including motor vehicles, aircrafts and watercrafts, where the value of the transaction or linked transactions amounts to at least EUR 10 000 or the equivalent in national currency;

2022/07/04
Committee: ECON LIBE

2021/0239(COD)

Damien CARÊME, Eero HEINÄLUOMA, Ernest URTASUN, Paul TANG, Luis GARICANO, Kira Marie PETER-HANSEN, Aurore LALUCQ

Proposal for a regulation
Article 16 – paragraph 1 – point c a (new)

(ca) obtain and assess information on whether the customer or the beneficial owner is persons involved are subjected to targeted financial sanctions relating to terrorism and terrorism financing, proliferation financing and to other applicable Union targeted financial sanctions;

2022/07/05
Committee: ECON LIBE

2021/0239(COD)

Damien CARÊME, Eero HEINÄLUOMA, Ernest URTASUN, Luis GARICANO, Kira Marie PETER-HANSEN, Aurore LALUCQ, Dragoş PÎSLARU, Ramona STRUGARIU

Proposal for a regulation
Article 16 – paragraph 2 a (new)

2a. Without prejudice to any other measures required to comply with the obligation to apply targeted financial sanctions, credit and financial institutions and crypto-asset service providers shall screen the customer’s identity as well as the beneficial owner’s identity against the relevant sanctions lists of designated persons in order to verify that the customer is not a designated individual, entity or group subject to targeted financial sanctions.

2022/07/05
Committee: ECON LIBE

2021/0239(COD)

Damien CARÊME, Eero HEINÄLUOMA, Ernest URTASUN, Paul TANG, Luis GARICANO, Aurore LALUCQ, Ramona STRUGARIU, Dragoş PÎSLARU, Kira Marie PETER-HANSEN

Proposal for a regulation
Article 16 – paragraph 3 a (new)

3a. AMLA shall issue guidelines on the measures to be applied by obliged entities for assessing whether the customer or the beneficial owner is subject to targeted financial sanction, including how to identify entities controlled by persons subject to targeted financial sanctions.

2022/07/05
Committee: ECON LIBE

2021/0239(COD)

Damien CARÊME, Eero HEINÄLUOMA, Ernest URTASUN, Paul TANG, Luis GARICANO, Kira Marie PETER-HANSEN, Aurore LALUCQ, Ramona STRUGARIU, Dragoş PÎSLARU

Proposal for a regulation
Article 21 a (new)

Article 21a Timing of the assessment whether the customer and the beneficial owner is subject to targeted financial sanctions 1. Credit and financial institutions and crypto-asset service providers shall assess whether the customer and the beneficial owner is subject to targeted financial sanctions when verifying the identity of the customer and the beneficial owner pursuant to Article 19. 2. In addition to the requirements set in Paragraph 1 and without prejudice to any other measures required by Union law relating to targeted financial sanctions, obliged entities shall assess on a regular basis whether any existing customer or beneficial owner is subject to targeted financial sanctions. 3. Without prejudice to any other measures required to comply with the obligation to apply targeted financial sanctions, credit and financial institutions and crypto-asset service providers shall screen the identity of their existing customers and beneficial owners each time when targeted financial sanctions are adopted by the Union. 4. In case an obliged entity identifies, in the course of its customer due diligence requirements, that a customer or beneficial owner is subject to targeted financial sanctions, it shall immediately notify the competent authority accordingly. 5. AMLA shall issue guidelines on the measures to be applied by obliged entities for assessing whether the customer or the beneficial owner is subject to targeted financial sanctions. Those guidelines shall include the following elements: a) risk-based procedures to be established by obliged entities in order to assess whether the customer or the beneficial owner is subject to targeted financial sanctions; b) the extent, timing and procedures for screening measures to be applied by credit and financial institutions and crypto-asset service providers with regard to existing customers or when entering into a new business relationship; c) the conditions to be fulfilled for identifying entities controlled by persons subject to targeted financial sanctions; d) the notification measures to competent authorities in case an obliged entity identifies a customer or a beneficial owner subject to targeted financial sanctions.

2022/07/05
Committee: ECON LIBE

2021/0239(COD)

Kira Marie PETER-HANSEN, Eero HEINÄLUOMA, Damien CARÊME

Proposal for a regulation
Article 27 – paragraph 5 – point d a (new)

(da) the customer, the beneficial owner or any associated person is subjected to targeted financial sanctions.

2022/07/05
Committee: ECON LIBE

2021/0239(COD)

Damien CARÊME, Eero HEINÄLUOMA, Ernest URTASUN, Paul TANG, Luis GARICANO, Kira Marie PETER-HANSEN, Aurore LALUCQ, Ramona STRUGARIU, Dragoş PÎSLARU

Proposal for a regulation
Article 36 a (new)

Article 36a Persons subject to restrictive measures by international organisations 1. Obliged entities shall report to the competent FIU any business relationship or transaction with persons subject to UN sanctions in the temporary period between the moment the UN designation is made publicly available and the moment targeted financial sanctions adopted by the Union become applicable. Obliged entities shall refrain from carrying out any transaction related to a person subject to UN sanctions until they have notified the competent FIU and have complied with any further specific instruction from the FIU. 2. When the competent FIU receives such a notification referred to in Paragraph 1, it shall decide to suspend any transaction, withhold its consent or suspend any account up to 10 calendar days or until the adoption of targeted financial sanctions by the Union. 3. This Article is without prejudice to the possibility of Member States to apply temporary measures which ensure a higher level of protection of the financial system of the Union such as temporary measures applying directly UN designations pending the adoption of EU targeted financial sanctions.

2022/07/05
Committee: ECON LIBE

2021/0239(COD)

Damien CARÊME, Eero HEINÄLUOMA, Ernest URTASUN, Paul TANG, Luis GARICANO, Aurore LALUCQ, Ramona STRUGARIU, Dragoş PÎSLARU

Proposal for a regulation
Article 37 a (new)

Article 37a Monitoring of transactions with regard to risks posed by targeted financial sanctions 1. Without prejudice to any other measures required by Union law relating to targeted financial sanctions, credit and financial institutions and crypto-asset service providers shall screen the information accompanying a transfer of funds or crypto-asset pursuant to [please insert reference – Regulation on information accompanying transfers of funds and certain crypto-assets (Recast)] in order to assess whether the payee or the payer of a funds transfer, or the originator or the beneficiary of a transfer of crypto-assets, are subject to targeted financial sanctions. By [2 years after the entry into force of this Regulation] AMLA shall develop draft regulatory technical standards and submit them to the Commission for adoption. Those draft regulatory technical standards shall specify: (a) which information shall be screened by the credit or financial institution of the payer as well as the relevant obligations of this institution; (b) which information shall be screened by the credit or financial institution of the payee as well the relevant obligations of this institution; (c) which information shall be screened by the crypto-asset service provider of the originator as well the relevant obligations of this provider; (d) which information shall be screened by the crypto-asset service provider of the beneficiary as well the relevant obligations of this provider. The Commission is empowered to supplement this Regulation by adopting the regulatory technical standards referred to in paragraphs 1 and 3 of this Article in accordance with Articles 38 to 41 of Regulation [please insert reference – proposal for establishment of an Anti- Money Laundering Authority - COM/2021/421 final].

2022/07/05
Committee: ECON LIBE

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Irene TINAGLI, Margarida MARQUES, Elisabetta GUALMINI, Eva KAILI, Pedro MARQUES, Pedro SILVA PEREIRA, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
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.

2022/04/08
Committee: ECON

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Irene TINAGLI, Margarida MARQUES, Elisabetta GUALMINI, Eva KAILI, Pedro MARQUES, Pedro SILVA PEREIRA, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
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.

2022/04/08
Committee: ECON

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Eva KAILI, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
Recital 4

(4) Environmental taxation can be a cost-effective mean for Member States to achieve the targeted reductions of greenhouse gasses. The proper functioning of the internal market requires common rules on that taxation, while preserving Member States' flexibility and sovereignty over tax prerogatives, not least with respect to promoting economic and social development of their insular, peripheral and remote regions.

2022/04/08
Committee: ECON

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Margarida MARQUES, Eva KAILI, Pedro MARQUES, Pedro SILVA PEREIRA, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
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.

2022/04/08
Committee: ECON

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Irene TINAGLI, Elisabetta GUALMINI, Jonás FERNÁNDEZ, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
Recital 36

(36) Every ~~fiv~~three years and for the first time ~~fiv~~three years after the entry into force of this Directive, the Commission should report to the Council 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 impact of this Directive on air connectivity and the economic and social welfare of insular, peripheral and remote regions as well as the wider relevant objectives of the Treaties.

2022/04/08
Committee: ECON

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Eva KAILI, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
Article 5 – paragraph 2 – subparagraph 1

~~The Commission is empowered to adopt~~ delegated ~~acts in accordance with Article 29 to amend the minimum levels of taxation as referred to in the first subparagraph.~~

2022/04/08
Committee: ECON

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Margarida MARQUES, Eva KAILI, Pedro MARQUES, Pedro SILVA PEREIRA, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
Article 7 a (new)

Article 7 a Moratorium for insular, peripheral and remote regions Provided that 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 will be waived for flights to and from such regions, during the first five years, and will 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 will be taken to avoid any "détournement de trafic" in kerosene usage. The conditions to qualify for the moratorium and for its application shall be defined by a delegated act.

2022/04/08
Committee: ECON

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Eva KAILI, Pedro MARQUES, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
Article 29 – paragraph 2

2. The power to adopt the delegated acts referred to in Article 2(8) ~~and Article 5(2)~~ shall be conferred on the Commission for an indeterminate period of time from 1 January 2023.

2022/04/08
Committee: ECON

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Eva KAILI, Pedro MARQUES, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
Article 29 – paragraph 3

3. The delegation of power referred to in Article 2(8) ~~and Article 5(2)~~ may be revoked at any time by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.

2022/04/08
Committee: ECON

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Eva KAILI, Pedro MARQUES, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
Article 29 – paragraph 6

6. A delegated act adopted pursuant to 6. Article 2(8) ~~and Article 5(2)~~ shall enter into force only if no objection has been expressed by the Council within a period of two months of notification of that act to the Council or if, before the expiry of that period, the Council have informed the Commission that it will not object. That period shall be extended by two months at the initiative of the Council.

2022/04/08
Committee: ECON

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Irene TINAGLI, Elisabetta GUALMINI, Jonás FERNÁNDEZ, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
Article 31 – paragraph 1

Every ~~fiv~~three years and for the first time ~~fiv~~three years after 1 January 2023, the Commission shall submit to the Council a report on the application of this Directive.

2022/04/08
Committee: ECON

2021/0213(CNS)

Alfred SANT, Eero HEINÄLUOMA, Cyrus ENGERER, Josianne CUTAJAR, Alex AGIUS SALIBA, Irene TINAGLI, Margarida MARQUES, Elisabetta GUALMINI, Jonás FERNÁNDEZ, Eva KAILI, Pedro MARQUES, Pedro SILVA PEREIRA, Costas MAVRIDES, Billy KELLEHER, Frances FITZGERALD

Proposal for a directive
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.

2022/04/08
Committee: ECON

2021/0211(COD)

Elisabetta GUALMINI, Eider GARDIAZABAL RUBIAL, Margarida MARQUES, Eero HEINÄLUOMA

Proposal for a directive
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.

2022/02/22
Committee: BUDG

2021/0191(COD)

Eero HEINÄLUOMA

Proposal for a regulation
Article 28 – paragraph 1 a (new)

These assessment activities will be considered as non-audit services in the sense of art 5 par 1 b of Regulation (EU) No 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC. These assessment activities will not fall under the possible deviations foreseen in par 3 of art 5 of this directive.

2022/01/20
Committee: ECON

2020/2244(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 1

1. Asserts that the Recovery and Resilience Facility is reshaping the European Semester process; underlines that the two processes should be fully coordinated towards building resilience and supporting the recovery from the impact of the COVID-19 crisis; highlights in this regard the absolute need for a strict control on the allocation of the RRF funds by the Member States, to ensure they aim for an effective long term structural sustainable change;

2021/01/18
Committee: BUDG

2020/2124(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 1

1. CNotes the increasing economic role played by the EIB, also in the context of the economic recovery from the shock created by the coronavirus pandemic; is of the opinion that further assessment of EIB activities and lending policy may be needed to ensure additionality of EIB financing; following this assessment, calls on the Member States to urgently agree on capital increase, both cash-in and callable in nature; calls for risks to be taken in the area of green and digital innovation in order to catalyse the just and digital transitions and to stop the financing of stranded assets;

2020/12/11
Committee: BUDG

2020/2124(INI)

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
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;

2021/03/10
Committee: ECON

2020/2124(INI)

Eero HEINÄLUOMA

Draft opinion
Paragraph 2

2. Reiterates that all financial flows of the European Investment Bank (EIB) Group should be consistent with the goal of achieving net zero emissions by 2050 at the latest and the Union’s new climate objective for 2030; ~~looks forward to~~welcomes the adoption ~~in 2020~~ of an ambitious Climate Bank Roadmap 2021-25 (CBRM), which is focussed on ensuring that the transition is green and socially just, and with the aim that the EIB invests in projects that simultaneously support the transition and enhance socio-economic development and which is to include a detailed strategic and operational framework with milestones and a shadow carbon price of at least EUR 100/tonne by 2025; calls for all financial intermediaries and corporate clients to have a decarbonisation plan in place by the end of 20215;

2020/12/11
Committee: BUDG

2020/2124(INI)

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
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’;

2021/03/10
Committee: ECON

2020/2124(INI)

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Recital B c (new)

B c. whereas the EIB Board of Directors approved the Climate Bank Roadmap (CBR);

2021/03/10
Committee: ECON

2020/2124(INI)

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
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;

2021/03/10
Committee: ECON

2020/2124(INI)

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
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;

2021/03/10
Committee: ECON

2020/2124(INI)

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Paul TANG, Joachim SCHUSTER, Margarida MARQUES

Motion for a resolution
Recital B f (new)

B f. whereas EIB investment has the capacity to support the social sector, including health, education and housing;

2021/03/10
Committee: ECON

2020/2124(INI)

Pedro SILVA PEREIRA, Pedro MARQUES, Eero HEINÄLUOMA, Csaba MOLNÁR, Joachim SCHUSTER, Margarida MARQUES

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Alfred SANT, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Paul TANG, Costas MAVRIDES

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Alfred SANT, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Paul TANG, Costas MAVRIDES

Motion for a resolution
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

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA

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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Alfred SANT, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Costas MAVRIDES

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Alfred SANT, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Costas MAVRIDES

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA

Motion for a resolution
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)

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Costas MAVRIDES

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Paul TANG, Costas MAVRIDES

Motion for a resolution
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.

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Alfred SANT, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Costas MAVRIDES

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Eero HEINÄLUOMA, Paul TANG, Niels FUGLSANG

Motion for a resolution
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; calls however for strict selectivity and to focus the public support only towards corporates viable in the long run, in light of the EU green and digital agenda;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Paul TANG

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Paul TANG, Costas MAVRIDES

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Costas MAVRIDES

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Costas MAVRIDES

Motion for a resolution
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 possible~~will ensure the ability to sustain and progressively reduce high debt levels;

2021/04/23
Committee: ECON

2020/2075(INI)

Eero HEINÄLUOMA, Niels FUGLSANG, Joachim SCHUSTER

Motion for a resolution
Paragraph 12

12. Stresses that debt service costs are expected to remain low for the foreseeable future 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 possible to sustain and progressively reduce high debt levels; despite this is very concerned about the overall high level of debt in the EU as a whole and in some MS in particular and the lack of effective economic growth over the last decade in the EU in general and in some MS in particular;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Paul TANG, Costas MAVRIDES

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Alfred SANT, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Paul TANG, Costas MAVRIDES

Motion for a resolution
Paragraph 14

14. Stresses the importance of pursuing a broad and transparent D~~SA in order~~ebt 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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Pedro MARQUES, Alfred SANT, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Costas MAVRIDES

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Niels FUGLSANG, Joachim SCHUSTER, Paul TANG, Pedro MARQUES, Evelyn REGNER, Eero HEINÄLUOMA

Motion for a resolution
Paragraph 16 b (new)

16b. Notes that while the EU’s macroeconomic framework is build up around the concept of GDP, a reform should move away from only using GDP as a key indicator and instead put factors such as economic equality and sustainability of the economy at the centre;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Paul TANG

Motion for a resolution
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.

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Alfred SANT, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Costas MAVRIDES

Motion for a resolution
Paragraph 21

21. Proposes, in line with the EFB, ~~‘ one~~the 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;

2021/04/23
Committee: ECON

2020/2075(INI)

Margarida MARQUES, Jonás FERNÁNDEZ, Carmen AVRAM, Joachim SCHUSTER, Pedro MARQUES, Pedro SILVA PEREIRA, Marc ANGEL, Eero HEINÄLUOMA, Marek BELKA, Paul TANG, Costas MAVRIDES

Motion for a resolution
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;

2021/04/23
Committee: ECON

2020/2075(INI)

Joachim SCHUSTER, Niels FUGLSANG, Eero HEINÄLUOMA, Paul TANG, Evelyn REGNER, Gabriele BISCHOFF

Motion for a resolution
Paragraph 23

23. Stresses that governments’ revenues are essential to guarantee the sustainability of public finances; as well as to finance the post-pandemic recovery, restoring the EU's sustainable competitiveness and to support the just transition to a sustainable economy; considers it therefore necessary to subject the level of taxes and duties in the Member States to greater European coordination inter alia to avoid competition to lower taxes; believes that Member States must ensure through their tax policies that there is no reduction in government revenues if debt rules are not respected; recalls that tax evasion and tax avoidance at EU level amount to up to EUR 160-190 billion each year, constituting missing revenues for the treasuries; therefore, calls on the Member States to take action to tackle tax fraud, tax avoidance, and tax evasion, as well as money laundering;

2021/04/23
Committee: ECON

2020/2075(INI)

Eero HEINÄLUOMA, Niels FUGLSANG, Joachim SCHUSTER

Motion for a resolution
Paragraph 23

23. Stresses that governments’ revenues are essential to guarantee the sustainability of public finances; calls on the Member States to take action to tackle tax fraud, tax avoidance, and tax evasion, as well as money laundering; looks forward to a very ambitious EC proposal to tackle AML, in line with the priorities set by the EP resolution of July 2020; stresses that any further macro-economic reform can only be successful in the long run, provided existing tax loopholes are properly tackled in the Member States; it is therefore essential that progress around that is assessed in the country specific path as outlined in par 19, and should be a key element in assessing the exemptions from the expenditure rule per Member State;

2021/04/23
Committee: ECON

2020/2075(INI)

Niels FUGLSANG, Joachim SCHUSTER, Paul TANG, Pedro MARQUES, Evelyn REGNER, Eero HEINÄLUOMA

Motion for a resolution
Paragraph 23 a (new)

23a. Calls for the creation of an Anti- Tax Haven Pact to be integrated in the European semester, with the effect that the EU Commission assesses the tax rules of the Member States on an annual basis and gives country specific recommendations for how to reform the tax rules in the case a Member State facilitates harmful tax practices;

2021/04/23
Committee: ECON

2020/2058(INI)

Paul TANG, Carmen AVRAM, Manon AUBRY, Evelyn REGNER, Csaba MOLNÁR, Siegfried MUREŞAN, Eero HEINÄLUOMA, Aurore LALUCQ, Gilles BOYER, Sirpa PIETIKÄINEN, Pedro MARQUES, Margarida MARQUES

Motion for a resolution
Recital -A (new)

-A. whereas all sectors of the EU economy will be impacted by the transition towards a sustainable economy,