Activities of Elisa FERREIRA related to 2015/2115(INI)
Plenary speeches (1)
European Central Bank annual report for 2014 (debate) PT
Amendments (24)
Amendment 24 #
Motion for a resolution
Recital D
Recital D
D. whereas the current recovery is mainly supported by private consumption, while private and public investment in the euro area continues to stagnate at levels significantly below those registered before the start of the crisis;
Amendment 37 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas financial fragmentation is still a major problem, with Micro, Small and Medium-sized Enterprises (MSMEs) suffering higher borrowing costs than the bigger companies, particularly in the countries hit more by the crisis; whereas facilitating credit flow to MSMEs is fundamental as they represent 99% of all businesses in the Union and account for 80% of jobs in the Union and thus they have a key role in generating economic growth, in job creating and in narrowing social disparities;
Amendment 44 #
Motion for a resolution
Recital I
Recital I
I. whereas the Single Supervisory Mechanism (SSM), the first pillar of the Banking Union, became fully operational on 4 November 2014 with the transfer to the ECB of supervision of the 130 biggest banks of the euro area, and the Single Resolution Mechanism (SRM), the second pillar of the Banking Union, entered into force at the beginning of 2015; stresses the need to complete the Banking Union framework with the development of the Banking Union 3rd pillar - a European Deposit Guarantee Scheme;
Amendment 52 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Recalls that the modest recovery expected for the coming years in the euro area will not be sufficient to reduce the high unemployment rates recorded in many euro area Member States or to reduce the burden of debt; stresses the need to improve the conditions for both public and private investment aimed at boosting growth and job creation, and calls for further efforts to ensure the financing of the real economy;
Amendment 54 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Although it regrets the slow reaction of the ECB on taking measures, welcomes the measures taken in 2014 and encourages further effort by the ECB aimed at reviving aggregate demand , increasing low cost lending to the real economy and facilitate growth;
Amendment 62 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Deplores the existing gap between financing rates granted to SMEs and those granted to bigger companies; considers that this long-standing problem is not appropriately addressed by the recent measures implemented by the ECB to boost bank lending; deplores also the financing gap between credit conditions for the real economy across Member States.
Amendment 72 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that private and public investment in the euro area remains significantly below its levels prior to the current crisis;
Amendment 73 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that private and public investment in the euro area remains significantly below its levels prior to the current crisis;
Amendment 106 #
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 108 #
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 131 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Stresses that the ECB needs to create further incentives for the banks to transfer liquidity to the real economy;
Amendment 132 #
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 144 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Stresses that the high and divergent levels of public and private indebtedness in some Member States are obstacles to the correct transmission of monetary policy, and that the non-conventional monetary policy implemented by the ECB is not able, by itself alone, to change this situation;
Amendment 149 #
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 158 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Considers that the existing flexibility within the Stability and Growth Pact rules could be used to better address the weak recovery in some Member States; recalls that monetary policy alone cannot stimulate aggregate demand unless it is complemented by adequate fiscal policies;
Amendment 167 #
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 187 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Believes that in order to foster economic recovery and to reduce unemployment levels in the European Union greater focus should be placed on aggregate demand policies; notes that fiscal consolidation policies did not produce its intended results;
Amendment 199 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Stresses that the ECB’s supervisory role and its monetary policy function must not be confused and should not generate any conflict of interest in its execution of its principal functions;
Amendment 209 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Deplores the fact that the ECB has exceeded even a broad interpretation of its Treaty-based mandate, inter alia in its role in the Troika and Quadriga; urges the ECB to take a step backwards and reinforce its independence from political decisions, abiding byTakes note of the ECJ judgment in Case C-62/14 of 16 June 2015, especially its paragraph 102, as well as the opinion expressed by Advocate-General Cruz Villalón in the same case, especially its paragraphs 227 and 263 and calls ECB to take that into consideration when taking its actions;
Amendment 215 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Underlines the need for democratic accountability in view of the new responsibilities conferred on the ECB regarding supervisory tasks, as well as its involvement in the Troika and Quadriga programmes, while also stressing the ECB’s independence in the field of monetary policy and the need to avoid any conflict of interest in the execution of its functions;
Amendment 228 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Calls for a thorough assessment of the Troika’s modus operandi and of the ECB’s involvement in the Troika and Quadriga frameworks, with a view to clarifying and redefining the scope of responsibilities and ensuring greater democratic accountability in the adoption and implementation of bailout programmes; invites the Council to reconsider the involvement of the ECB and IMF in the Troika;
Amendment 234 #
Motion for a resolution
Paragraph 25
Paragraph 25
Amendment 260 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Believes that the current structure of the Banking Union shouldmust be complemented in the future withand urges for immediate establishment of a sSingle mechanism to guarantee bank deposits, aimed at avoiding capital flight in the event of a future banking crisisDeposit Guarantee Scheme; highlights, in this respect, even though late, the call by the ECB President towards this direction on the monetary dialogue on 23 September 2015;
Amendment 283 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Welcomes the capital market union project and its potential contribution to reducing excessive dependence of euro area economies on the banking system and stresses the necessity to create a single supervisor for capital markets as the ECB is for the banking system;