7 Amendments of José Manuel GARCÍA-MARGALLO Y MARFIL related to 2022/2150(INI)
Amendment 20 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas, according to European Commission data, the GDP of some Member States will not reach pre- pandemic levels until 2024, while that of the euro area as a whole is already two percentage points higher;
Amendment 42 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Is concerned that the EU is one of the most exposed advanced economies to downward risks, given its geographical proximity to Ukraine and heavy reliance on gas imports from Russia; acknowledges the initiatives of the Commission and the Council to tackle this problem and its effects; notes that the impact of high energy prices and inflation leads to the erosion of household purchasing power; highlights that a reduction in aggregate demand, combined with less favourable financing conditions, could lead to a sharp decline in investment and therefore in economic growth;
Amendment 59 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that while the primary objective of the European Central Bank (ECB) is to maintain price stability, the primary objectives of the Union as a whole should be to minimise the impact of current turbulences on the real economy, thereby defending the wellbeing of its citizens and preserving its production structure and the international competitiveness of its companiesEuropean Union are also those set out in Article 3 TEU; underlines, in this regard, the importance of adequate and coordinated fiscal, structural and regulatory policies that complement the ECB’s monetary policy actions, which are also capable of supporting household incomes and providing targeted support to companies suffering from supply bottlenecks and high energy costs;
Amendment 79 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Observes the sizeable impact of the NextGenerationEU (NGEU) instrument as estimated by the Commission, the ECB and the International Monetary Fund, in particular an increase in GDP growth of up to 1.5 % higher than without NGEU investment if the instrument is implemented effectively; stresses that the European Court of Auditors, in its Special Report 21/2022, calls for greater transparency and further action to improve the control mechanisms proposed by the Member States;
Amendment 83 #
3a. Highlights the role of the SURE mechanism as a crucial element in protecting citizens and mitigating the consequences of the coronavirus pandemic;
Amendment 189 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that while monetary policy is conceived and designed as a single instrument, the overall fiscal policy is the result of aggregating 19 individual fiscal policies; underlines that, apart from the recommendation on the economic policy of the euro area, coordination of actions has thus far been limited and the situation and challenges of the euro area have not been easy to factor in; highlights that it is still largely random if the aggregation of national fiscal policies results in a euro area fiscal stance which is appropriate and consistent with monetary policy; regrets that the Commission’s communication does not encompass rules or instruments that allow for the management of the euro area fiscal stance; highlights the benefits that the inclusion of the Eurogroup in the Treaties would bring to ensure greater coordination in the euro area;
Amendment 217 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recalls that the better law-making agreement reiterates that the European Parliament and the Council are to exercise their powers as co-legislators on an equal footing and that the Commission therefore needs to treat them equally; calls for greater involvement of the European Parliament in the European Semester to ensure fair and equal cooperation between co-legislators; stresses the role and responsibility of national parliaments;