Activities of Nikolaos CHOUNTIS related to 2011/2156(INI)
Plenary speeches (1)
ECB annual report for 2010 (debate)
Amendments (14)
Amendment 16 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas, given the harsh austerity measures and credit terms adopted, the most likely scenario, according to the OECD study on the Greek debt published on 2 August 2011, is that Greece's public debt, which was 140% of GDP in 2010, will fall to 100% of GDP in 2035,
Amendment 29 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Emphasises the fact that what is declared to be the ECB's sole objective, namely price stability, has a negative impact under current circumstances, since it ignores the impact the ECB's policies may have on the real economy;
Amendment 30 #
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Underscores the fact that the structure of the ECB as an independent body, as set out in the Maastricht Treaty, does not promote overall European economic growth and no longer even promotes monetary stability; takes the view that the ECB must operate under the democratic control of the relevant European institutions;
Amendment 53 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Stresses that the work undertaken by the ESRB, under the auspices of the ECB, to secure financial stability has addressed the problem only superficially. It is indisputable that it is impossible solely by imposing restrictive measures or strict rules of a temporary nature to change the structures that created the crisis and are geared to the rampant pursuit of profitability by financial institutions;
Amendment 62 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Emphasises that because of structural weaknesses in the eurozone, it is extremely doubtful that relatively small economies will manage successfully to follow adjustment procedures in times of turbulence and crisis; stresses also that, because of its inherent characteristics, the single currency has served the interests of the economically strong countries at the expense of the weaker economies;
Amendment 64 #
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Highlights fears that, without the adoption of fiscal and monetary policies that promote a reduction in unemployment, safeguard minimum wages and protect the weaker sectors of the economy, there will be no recovery;
Amendment 68 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls on the Commission to set up a European credit rating foundation and to evaluate the pros and conBelieves that it is politically unacceptable and dangerous for the economy that the credit rating agencies, which have played a negative role in this crisis, should continue to be given the right, by the EU itself, to evaluate not only the businesses but also the economies of tMemporarily suspending credit ratings forber States; calls on the Commission to promote the functioning of a democratically countries following an EU/IMF adjustment programmeolled body, which has no links to private interests and will undertake the evaluation work within the framework of solidarity between States and their citizens;
Amendment 78 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the determination and proactEmphasises and strongly criticises the passive stance of the ECB throughout the crisis since 2007, which created an explosive social and economic mixture in Europe;
Amendment 79 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Recalls the ECB’s refusal drastically to reduce the destructive action of speculators and the sharp increase to unprecedented levels of the spreads of eurozone member countries through the purchase of government bonds;
Amendment 81 #
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Notes with disappointment the ECB’s decision to keep its rates at a higher level than those in the U.S. and the United Kingdom, thereby contributing to the continuation of the recession;
Amendment 156 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Notes that the main reasons for the huge deficits and the subsequent steep increase in borrowing costs are phenomena such as tax competition that has reduced the tax burden of capital at the expense of labour, the socialization of private losses through injections of liquidity in the banking sector and the speculative behaviour of rating agencies and international financial centres;
Amendment 170 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Underlines the failure of the neoliberal economic growth model; underlines also the need for European States to be released from austerity programmes and measures and cuts, since they deepen the crisis and lead to an economic impasse the cost of which will have to be borne by the peoples of Europe;
Amendment 189 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Underlines the absolutBelieves that the necessity to quickly implement and apply the provisions of the economic governance package once the negotiations have been concludedonomic governance package, apart from being the wrong recipe for ending the crisis, is also one that has failed; stresses that for one year, the 'experiment' of economic governance and the experiment of a 'stricter SGP' have been under way in Greece, Ireland and Portugal; notes that the results are disastrous, especially in Greece: a deeper recession, higher unemployment and greater poverty and destitution;
Amendment 202 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that the introduction of eurosecurities may constitute the necessary fiscal quantum-leap forward that the Union needs at this juncture; welcomes the rapid implementation of the feasibility report promised by the Commission in its declaration XXX, given the present dimension of the crisis at European level, the introduction of eurosecurities is no longer an adequate measure; emphasizes strongly the need for a radical overhaul of the Maastricht Treaty in order to allow Member States to borrow directly from the ECB, without any conditions relating to the application of austerity programmes;