Activities of Chris MACMANUS related to 2020/2037(INI)
Shadow reports (1)
REPORT on strengthening the international role of the euro
Amendments (13)
Amendment 32 #
Motion for a resolution
Recital D
Recital D
Amendment 41 #
Motion for a resolution
Recital F
Recital F
Amendment 67 #
Motion for a resolution
Recital J
Recital J
J. whereas while the wider use of an international currency bears privileges and gains, it also implies global responsibilities, dependencies, risks and costs;
Amendment 82 #
Motion for a resolution
Recital K a (new)
Recital K a (new)
Ka. whereas the purpose of any policy of strengthening the euro should have as its core aim the improvement of the lives of people living in Europe and throughout the world.
Amendment 99 #
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 113 #
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 122 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Considers Brexit both a challenge and opportunity for the euro and notes how its potential use could mitigate the impact of Brexit on the island of Ireland
Amendment 130 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Emphasises the need for sustainable and sound fiscal and structural growth- enhancing policies that are based on a commitment to credible fiscal rules; calls for further reflection on the adequacydeep reform or abolition of the stability and growth pact framework despitegiven the challenging circumstances especially the additional debt burdens taken on correctly by Member States during the Covid crisis; supports the plan outlined in Next Generation EU to use, in addition to monetary policy, a fiscal impulse, notably borrowing EUR 750 billion from capital markets bonds to finance the recovery and green transition, in addition to the issuance of EUR 100 billion in ‘social’ bonds under the European instrument for temporary support to mitigate unemployment risks in an emergency (SURE), which is intended to preserve employment; applauds the high level of interest that investors have demonstrated in European bonds;
Amendment 165 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Takes note of the role geopolitics plays in global currency competition but chooses not to support the weaponisation of the euro as a tool in this competition;
Amendment 167 #
Motion for a resolution
Paragraph 8
Paragraph 8
Amendment 179 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Underlines that a strengthened international role of the euro would enhance the EU’s capability to enforce open strategic autonomy; recommends, therefore, actions intended to both design and implement policy measures that foster the international role of the euro and support market-driven shifts in this direction if they are compatible with the EU’s Climate and social goals;
Amendment 186 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Advocates, in this context and where compatible with the EU’s Climate and social goals;, that policies critical for and conducive to strengthening the international role of the euro should target, inter alia, international trade, fiscal and monetary policy mix, financial services and capital market, payments systems, the climate, the digital transformation, energy, and foreign and security policies;.
Amendment 197 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that the global prominence of a currency is directly linked to the role that the issuing country has in global trade; stresses that the EU, as one of the world’s largest trading blocs, wcould benefit from a strengthened international role of its currency; underlines that stimulating the choice of the euro in trade will reduce exchange risk and other currency-related costs, especially for European SMEs; observes, however, that despite their position as large buyers and producers, European companies opt to trade in key strategic markets in US dollars; calls, therefore, on the Commission to foster the use of the euro in pricing and invoicing in trade transactions, and to make use of the high potential offered by financial instruments denominated in euros; points, in this context, to the potential offered by supply chains;