Activities of Sahra WAGENKNECHT related to 2008/2156(INI)
Plenary speeches (1)
EMU10: The first 10 years of Economic and Monetary Union and future challenges (debate)
Amendments (12)
Amendment 11 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas the 4.1% inflation rate in the euro area in July 2008 was the highest ever and will cause considerable problems for poorer households in particular in the form of rising energy and food prices,
Amendment 15 #
Motion for a resolution
Recital G a (new)
Recital G a (new)
Ga. whereas in many countries in Europe the low-wage sector has grown markedly, and increasing numbers of employment relationships which formerly guaranteed a livelihood are being transformed into precarious employment relationships,
Amendment 20 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Shares the view that the single currency has become a symbol of Europe and has shown that Europe is capable of taking far-reaching decisions for a common and prosperous future; notes that very substantial economic divergences remain between euro area countries and that the economic imbalances (in the form of foreign trade deficits and surpluses) have increased;
Amendment 21 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the fact that tFinds that internal economic divergences in the euro area have not diminished euro has brought stability and fostered economic integration inough and productivity has not developed satisfactorily, as a consequence of misguided economic, tax and competition policies; calls on the eEuro area, even if internal economic divergences have not diminished enough and productivity has not developed satisfactorilypean Union and Member States to improve the coordination of tax policy, take action against harmful tax competition and implement an active structural and industry policy which will boost the industrial catching-up process in poorer regions without impairing industrial production and employment in developed regions;
Amendment 25 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. BDoes not believes that more coherent, multi- supportive economic reforms coordinated in a timely fashion on the basis of the Integrated Policy Guidelines and policy- mix approach of the Lisbon Strategy could decrease economic divergences; stresses the need to improve the procedures and methodologies for revision and assessment of the implementation of those guidelines at the end of each yearmove clearly away from neoliberal economic and structural reforms, which are contributing to increasing inequality and poverty in Europe;
Amendment 36 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses the need for mutual reinforcement of stability and growth- oriented macro-economic policies by making demand-side policy a matter of common concern: the need to follow closely public balances through the composition and level of taxes and expenditures and their impact on the demand side and in parallel agree on common approaches regarding wage policy;
Amendment 37 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. NotesIs of the opinion that the revised Stability and Growth Pact (SGP) has proven its value and that a strong consolidation of budgets has to be adhered to, as demographic change and possible decline in economic growth could lead to budgetary problems in euro area Member States, which could have negative effects on the stability of the euro area as a whole; critshould be oriented towards the objective of sustainable growth and high employment; criticises, in this context, Member States for retaining their restrictive financial policises in this context the lack of discipline in combating budgetary deficits in times of economic growth and stresses that Member States must effectively extend the scope for an anti-cyclical fiscal policy, especially in order to be better prepared for external shocks; and demands, therefore, a long- term strategy to rspite of the increases in revenue arising from the generally more favourable economic development of recent years, which has led to an overall lack of the investment necessary for renewing public infrastructure, improving levels of educe national debts to a maximum of 60 % and improving the social situation of disadvantaged groups in society;
Amendment 40 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that the main elements of the SGP must also be consistently adhered to in the future, since both the criterion of 3 % and that of a maximum national debt of 60 % were specified on the basis of the economic conditions in the 1990s, and lower growth rates would necessitate substantially stricter criteria; is of the opinion that the SGP must be adhered to strictly by the Member States and supervised by the Commission; notes that an effective coordination of economican effective coordination of economic and financial policy is desirable within the EMU, although it should respect the principle of subsidiarity; is of the opinion that tax and monetary policy should encourage an evolution in demand, which is a necessary prerequisite for higher growth and financial policy is desirable within the EMU, although it should respect the principle of subsidiarity; stresses that existing supervisory instruments must be used better by the Commission and that the medium-term examination of national budgets by the Eurogroup has to be strengthenedcreased employment; calls for the SGP to be replaced by a social stability pact which would, as a first step, define minimum European standards in order to counter such negative developments as employment insecurity, the increase in working hours, the lowering of corporate and capital tax and the flood of privatisations of public services;
Amendment 44 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Considers that a sustainable and stable macro-economic environment requires improving the quality of public finances including further budgetary consolidation, andingle minimum level of taxation in Europe using a common basis of assessment could contribute to improving the quality of public finances; calls for the developingment of an intelligent private and public investment policy that delivers forward-looking infrastructure which will open up tomorrow’s marketand creates new, high-quality jobs;
Amendment 59 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Recalls its strong commitment to the independence of the ECB.Is of the opinion that an institution as important as the ECB must be democratically monitored, as its policies are of great importance for the situation of the people in Europe;
Amendment 83 #
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26a. Is of the opinion that the European Union should draw lessons from the developments and specific mechanisms which led to the emergence and international spread of the present financial crisis; calls on the European Union in this regard to oblige banks and other financial institutions to provide comprehensive information on their activities and risk positions to the supervisory authorities; prevent, or at least restrict, the securitisation of credits and trading in credit packages; limit large-scale external financing in the purchase of bond packages or other financial investments and acquisitions; counter the steady expansion of private pension funds and subject credit rating agencies to more stringent public monitoring, or create an independent public credit rating agency;
Amendment 105 #
Motion for a resolution
Paragraph 38
Paragraph 38
38. Points out that the important role of the euro in international financial markets brings with it an obligation, and thus the effects of monetary and growth policy in the euro area have extensive global impact; emphasises the increased importance ofcalls on the eEuro for international trade and services as a stabiliser in the global environment, as an engine for financial market integration and as a basis for increasing direct investments and cross- border company mergers, as transaction costs could be substpean Union to adopt measures to prevent short-term foreign exchange inflows detrimental to exchange rates, advocate the reform and democratisation of the international finantcially reduced; calls for a study on global imbalances and the role of the euro and possible adjustment scenarios to better prepare Europe for tackling major external shock structure and stabilise exchange rate movements by means of continuous cooperation with the USA, China, Japan, Brazil, India and other countries;