Activities of Robert STURDY related to 2011/2011(INI)
Shadow opinions (1)
OPINION on Global Economic Governance
Amendments (7)
Amendment 2 #
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes steps agreed by the G-20 Finance Ministers Summit in Paris on 19 February 2011 to measure global imbalances by a set of indicators including ‘the external imbalance composed of trade balance and net reduce excessive and persistent macroeconomic imbalances and maintain countries' current account imbalances at sustainable levels by strengthening multilateral cooperation and agreeing on indicative guidelinvestment income flows and transfers’ without targets against which a set of jointly agreed indicators will be assessed;
Amendment 8 #
Draft opinion
Paragraph 2
Paragraph 2
2. Is concerned about the persistence of dynamics of increasing imbalances at the global level as shown by rising current account deficits of the EU and the US throughout the year 2010;
Amendment 12 #
Draft opinion
Paragraph 3
Paragraph 3
3. Considers that global trade imbalances are partly due to and reinforced by social, environmental, fiscal and monetary mispricings, often comparable to deliberate dumping practices of governments; calls on the Commission to reflect on possible tariff and non-tariff conditions to be imposed on imports to compensate such mispricinginsufficient conditions and infrastructure for competitive market economies to generate wealth in LDCs;
Amendment 17 #
Draft opinion
Paragraph 4
Paragraph 4
4. Is convinced that in order to target and tackle global trade imbalances multilateral rules are urgently needed with regard to exchange rate setting, the role of reserve currencies, and the limitation of excessive capital flows, including forms of capital control, andthe WTO should play a more active role and we should avoid over-regulation in certain jurisdictions which exacessive price volatilities, including forms of supply-side management for particularly important productrbate these imbalances;
Amendment 25 #
Draft opinion
Paragraph 5
Paragraph 5
5. Is particularly concerned about the need to curb excessive food price volatility; calls onurges the Commission to design a specific EU Commodity Futures Trading Committee on the model of the USA with a competence to set individual and aggregated position limits on all commodity futures exchangepresent the European Parliament with an independent impact assessment on the challenges posed to both consumers and producers by this trend and to suggest measures to improve supply chain and storage facilities to avoid waste during production and transportation to markets and look into the impact of low interest rates on commodity markets;
Amendment 28 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls on the Commission to raise at the next EU-USA meeting of the Transatlantic Economic Council (TEC) the issue of mutual cooperation on supervision of commodity derivatives in line with existing transparency and market abuse regulation;
Amendment 30 #
Draft opinion
Paragraph 6
Paragraph 6
6. Calls on the EU to take the lead in implementinginto account G8/G20 summits' declarations, in particular with regard to tackling fossil fuels subsidies, undue links between public support and agriculture in OECD agricultural and trade policies, and the instability ansubsidies for fossil fuels and agriculture as well as OECD guidelines in this domain, including on trade in agriculture goods, food price volatility in food and commodities markets.;