12 Amendments of Francesca DONATO related to 2019/2110(INI)
Amendment 7 #
Motion for a resolution
Recital A
Recital A
A. whereas according to the Commission’s forecasts, the GDP growth rate for 2019 stands at 1.2 % of GDP per capita in the euro area and 1.4 % in the EU28, and is expected to rise to 1.4 % and 1.6 % respectively in 202010; ____________________whose year- ahead projections has proved exceedingly inaccurate and unreliable over the last years, notably the forecasts of GDP, investment, inflation and the government budget balance9a, the GDP growth rate for 2019 stands at 1.2 % of GDP per capita in the euro area and 1.4 % in the EU28, and is expected to rise to 1.4 % and 1.6 % respectively in 202010, which is still far below the projected growth for the rest of the world; whereas private consumption has been the main driver of growth over the past years; whereas this casts doubt on the sustainability of recovery as well as future growth potential; ____________________ 9a Marco Fioramanti et al., European Commission’s Forecast Accuracy Revisited: Statistical Properties and Possible Causes of Forecast Errors, DG ECFIN, Discussion Paper 027, March 2016. 10 Commission’s European Economic Forecast – Summer 2019 (Interim) of 10 July 2019
Amendment 10 #
Motion for a resolution
Recital B
Recital B
B. whereas unemployment rates continue on a steady downward path, with an average rate of 7.5 % in the euro area and 6.3 % in the EU28 in May 2019, the lowest since the start of the EU monthly unemployment series, and a further decrease is expected to 7.3 % and 6.2 % respectively in 2020; whereas unemployment rates have for years been unacceptably high, at levels twice as high as those of the rest of the industrialized world;
Amendment 18 #
Motion for a resolution
Recital D
Recital D
D. whereas the general government deficit is expected to rise from 0.5 % to 0.9 % in the euro area and from 0.6 % to 1.0 % in the EU28 in 2019, and to remain at that level in 2020; whereas the debt-to- GDP ratio in 2019 stands at 85.8 % in the euro area and 80.2 % in the EU28 and is forecast to decrease to 84.3 % and 78.8 % respectively in 2020;, taking into account the deteriorating projections for budget balances by the Commission in recent years10a; ____________________ 10aMarco Fioramanti et al., European Commission’s Forecast Accuracy Revisited: Statistical Properties and Possible Causes of Forecast Errors, DG ECFIN, Discussion Paper 027, March 2016.
Amendment 24 #
Motion for a resolution
Recital F
Recital F
F. whereas, in the light of the risks of trade tensions between the US and the China alongside, the persistent uncertainty related to the withdrawal ofconcerning ongoing withdrawal negotiations between the UK fromand the EU, and unsustainable interest rate policies across the developed world, the global outlook risks bending towards the downside;
Amendment 41 #
Motion for a resolution
Recital F b (new)
Recital F b (new)
Amendment 113 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Underlines that reforms which increase competition in product markets, promote resource efficiency and improve the business environment, as well as quality of institutions, including an effective justice system, and quality and efficiency of tax collection, are essential for achieving greater economic resilience for the euro area and Member States; emphasises in this context the importareiterates the urgencey of the single market and the need for its further deepeningcarrying on the fight against over indebtedness of banks, states, and private actors that hampers economic growth;
Amendment 147 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Calls on Member States to support and implement EU actions to combat Aggressive Tax Planningcombat fiscal fraud and tax evasion; recalls that tax competition between countries is the natural consequence of respecting Member States’ sovereignty; consequently rejects harmonisation of direct taxation at the Union level;
Amendment 152 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Calls on Member States to support and implement EU actions to combat Aggressive Tax Planningcombat fiscal fraud and tax evasion; recalls that tax competition between countries is the natural consequence of respecting Member States’ sovereignty; consequently rejects harmonisation of direct taxation at the Union level;
Amendment 173 #
Motion for a resolution
Paragraph 11 g (new)
Paragraph 11 g (new)
11g. Rejects the Commission’s proposal to transform the European Stability Mechanism into a European Monetary Fund; recalls that there is no suitable legal base to incorporate the ESM into the Union legal framework; recalls that the ESM is based on the unanimity principle, which guarantees a veto right for every member of the ESM; calls, instead, for the ESM to be phased out as soon as possible;
Amendment 175 #
Motion for a resolution
Paragraph 11 i (new)
Paragraph 11 i (new)
11i. Reminds the Member States currently engaged in the Exchange Rate Mechanism (ERM II) that their economic and monetary well-being is dependent on the fate of the euro area; considers that various imbalances in these Member States, e.g. housing bubbles, have their root causes in the fixed exchange rate against the euro;
Amendment 229 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. NotWelcomes that more than two thirds of the CSRs issued until 2018 have been implemented with at least some progress; regrets, however, that there is evidence of backtracking on elements of major reforms adopted in the past, and is concerned about Member States’ commitment to the CSRs, given that progress on the current recommendations is worse than in previous yearsthe Commission cannot force Member States to comply with its CSR;
Amendment 253 #
Motion for a resolution
Paragraph 18
Paragraph 18