3 Amendments of Alberico GAMBINO related to 2024/0071(COD)
Amendment 24 #
Proposal for a decision
Recital 5
Recital 5
(5) The EU recognises Egypt's key role for regional security and stability, and has a strong interest in preventing short-term economic instability in the country that could have broader consequences as well as benefit geopolitical rivals. Terrorism, organised crime and conflicts are common threats against our security and the social fabric of nations across both sides of the Mediterranean. Therefore, the EU and Egypt have a common interest in strengthening cooperation highlighted in the Partnership Priorities, in full compliance with international law, including human rights and international humanitarian law, also to promote joint interests and address common challenges.
Amendment 33 #
Proposal for a decision
Recital 6
Recital 6
(6) Recalling the geo-political challenges, such as the broader consequences in the region of Hamas terrorist attacks across Israel on 7 October 2023, as well as the conflict in Sudan, and the strategic importance of Egypt as the largest country in the region and a pillar of stability and security for the whole Middle East, the Union is embarking on concluding a Strategic and Comprehensive partnership with Egypt as outlined in the Joint Declaration.
Amendment 44 #
Proposal for a decision
Recital 9
Recital 9
(9) Egypt’s macro-fiscal situation has faced significant challenges and deteriorated substantially over recent months, as external pressures have intensified and public debt has increased further, with substantial downside risks to the economic outlook persisting. The repercussions of Russia’s war on Ukraine and the broader consequences in the region of Hamas terrorist attacks against Israel have led to protracted capital outflows and lower foreign currency receipts, notably due to sharply falling income from tourism and Suez Canal proceeds. This is particularly challenging amid Egypt’s difficult fiscal situation, which is characterised by constant fiscal deficits and high and growing debt to GDP ratios.