BETA

25 Amendments of Esther DE LANGE related to 2015/2344(INI)

Amendment 1 #
Motion for a resolution
Heading 1
on a budgetary capacity for the Eeurozone area
2016/06/09
Committee: BUDGECON
Amendment 63 #
Motion for a resolution
Recital D
D. whereas keeping the Balance of Payments Facility for non-euro Member States while depriving euro area Member States of this instrument as a consequence of the no-bail-out clause reflects one of the original flaws of EMU;deleted
2016/06/09
Committee: BUDGECON
Amendment 124 #
Motion for a resolution
Recital J
J. whereas the ECJ ruled in the Pringle case that the ESM is consistent with the TFEU and opened the door to a possible integration of that mechanism into the acquis communautaire within the current limits of thcannot be incorporated into the Community framework without a complete Ttreatiesy change;
2016/06/09
Committee: BUDGECON
Amendment 149 #
Motion for a resolution
Paragraph 2 a (new)
2a. Notes that if Member States are able to obtain budget surpluses in economic upturn, a shock absorbing mechanism of over 3% of GDP would be available to Member States to implement countercyclical fiscal policies in times of economic downturn without breaking the rules set out in the Stability and Growth Pact;
2016/06/09
Committee: BUDGECON
Amendment 163 #
Motion for a resolution
Paragraph 4
4. Stresses that the introduction of the euro as a common currency has eliminated tried and tested policy options for counterbalancing asymmetric shocks such as exchange rate fluctuation; reiterates that the relinquishing of autonomy over monetary policy therefore requires alternative adjustment mechanisms to cope with asymmetric macroeconomic shocks in order to make the euro zone an optimal currency area able, inter alia, to implement a proper policy mix;deleted
2016/06/09
Committee: BUDGECON
Amendment 200 #
Motion for a resolution
Paragraph 6
6. Points out that the crisis has proved that a common monetary policy without a common fiscal policy cannot address asymmetric shocks to the euro area; rReiterates that mere coordination of national fiscal policies without credible enforcement mechanisms has not prevented an investment gap, has proved insufficient to trigger growth-enhancing, sustainable and socially balanced structural reforms and has not enhanced the national capacity to absorb economic shocks;
2016/06/09
Committee: BUDGECON
Amendment 251 #
Motion for a resolution
Paragraph 10
10. Recalls the four pillars set out in the Five Presidents’ Report: completing the economic, financial and fiscal Union and strengthening democratic accountability, legitimacy and the institutional setting; emphasises that this report reiterates the view set out in the Blueprint of the Commission and the Four Presidents’ Report, coordinated by then President of the European Council Mr Herman van Rompuy, that a shock absorption capacity at euro area level is needed to complement automatic stabilisers at national level, whose functioning is limited, as was shown during the crisis;
2016/06/09
Committee: BUDGECON
Amendment 296 #
Motion for a resolution
Paragraph 14
14. Takes the view that incentives for sound fiscal policymaking and for addressing structural weaknesses at national level, taking into account the aggregate euro area fiscal stance, are core elements for the well-functioning of the euro area; considers that a fiscal capacity should, moreover, address specific concerns for the euro area in the case of absorbing shocks;
2016/06/09
Committee: BUDGECON
Amendment 349 #
Motion for a resolution
Paragraph 17
17. Considers that three different functions have to be fulfilled; argues, first, that in order to foster economic and social convergence within the euro area and to improve the economic competitiveness and resilience of the euro area, Member States’ structural reforms should be incentivised in good economic times; argues, secondly, that differences in the business cycles of euro area Member States stemming from structural differences create the need for an instrument to address asymmetric shocks; considers, thirdly, that symmetric shocks should be addressed so as to increase the resilience of the euro area as a whole;
2016/06/09
Committee: BUDGECON
Amendment 391 #
Motion for a resolution
Paragraph 19
19. Demands thatQuestions whether the ESM could be integrated into the Union’s legal framework and evolve towards a Community mechanism, as provided for in the ESM Treaty and as constantly requested by the European Parliament and foreseen in the Five Presidents’ report; underlines that the ECJ Pringle case-law and jurisprudence does not open up the possibility of bringing the ESM within the Union’s framework, within the existing Treaties, on the basis of Article 352 TFEU; calls, therefore, on the Commission to bring forward as a matter of urgency a legislative proposal to that end; demands that the ESM be made fully accountable to the European Parliamentout a complete treaty change;
2016/06/09
Committee: BUDGECON
Amendment 406 #
Motion for a resolution
Paragraph 20
20. Calls for the ESM, whilst fulfilling its ongoing tasks, to be further developed and turned into a European Monetary Fund (EMF) with adequate lending and borrowing capacities and a clearly defined mandate, including its contribution to a euro area fiscal capacity; sStresses that an EMF should be managed by the Commission and held democratically accountable by the European Parliament; emphasises that national parliaments would be involved in the process, given that their constitutional prerogatives regarding financial resources could be affected;
2016/06/09
Committee: BUDGECON
Amendment 514 #
Motion for a resolution
Paragraph 26 – introductory part
26. Suggests that the convergence code define criteria to be reached within five years, building on the merits of the Maastricht criteria and focusing for the first period on convergence requirements regarding:
2016/06/09
Committee: BUDGECON
Amendment 526 #
Motion for a resolution
Paragraph 26 – indent 1
– taxation: base and rate of corporate tax,
2016/06/09
Committee: BUDGECON
Amendment 528 #
Motion for a resolution
Paragraph 26 – indent 2
– labour market, including minimum wages,deleted
2016/06/09
Committee: BUDGECON
Amendment 565 #
Motion for a resolution
Paragraph 26 – indent 3 – paragraph 2
This five-year period, which would start after the entry into force of the new treaty, should in exchange allow for a phasing-in of the new tasks attributed to the ESM/EMF;
2016/06/09
Committee: BUDGECON
Amendment 596 #
Motion for a resolution
Paragraph 28
28. Is convinced that increased convergence within the euro area and abiding by the rules set out in the Stability and Growth Pact will significantly increase the capacity of its Member States to absorb asymmetric shocks; believes, however, that no matter how great the efforts regarding convergence and sustainable structural reforms, asymmetric shocks with an impact on the stability of the euro area as a whole cannot be ruled out completely, given the strong integration of the euro area Member States; stresses, therefore, the need to have an instrument available for this emergency which provides an immediate stabilisation effect;
2016/06/09
Committee: BUDGECON
Amendment 626 #
Motion for a resolution
Paragraph 30
30. Points out that the Rainy Day Fund should be funded by all the Member States on the basis of a cyclically sensitive economic indicator and used for payments to all Member States suffering from economic downturns;deleted
2016/06/09
Committee: BUDGECON
Amendment 654 #
Motion for a resolution
Paragraph 31
31. Acknowledges that the model ofStresses that a European Unemployment Benefit Scheme would fosterith debt- based funding would be a Ponzi scheme and that it would not be able to foster true and sustainable convergence of labour markets in the medium term; ;
2016/06/09
Committee: BUDGECON
Amendment 664 #
Motion for a resolution
Paragraph 32
32. Considers that the EMF should provide the financial resources for either of these models, which could require increasing the amount of capital; pPoints out that thea fund should avoid long-term redistribution effects by ensuring Member States’ contributions are balanced over the cycle;
2016/06/09
Committee: BUDGECON
Amendment 700 #
Motion for a resolution
Paragraph 34
34. Considers that in the case of symmetric shocks brought about by a lack of internal demand, monetary policy alone cannot reignite the economy, particularly in a context of zero lower bounds; is therefore convinced that public and private investment must be increased, structural reforms that increase the euro area's competitiveness must be implemented, the administrative burden reduced and a proper regulatory framework developed, with a view to stimulating potential growth;
2016/06/09
Committee: BUDGECON
Amendment 727 #
Motion for a resolution
Paragraph 36
36. Considers that instability in the financial sector could also pose severe challenges for the euro area as a whole; urges completionstrengthening of the Banking Union in order to lessen these challenges; calls for the fiscal capacity to operate as a fiscal backstop for the Banking Union, as agreed in the SRM;
2016/06/09
Committee: BUDGECON
Amendment 735 #
Motion for a resolution
Paragraph 37
37. Points out that the fiscal capacity has to be of significant size in order to be able to address these euro-area-wide shocks and to finance its functions; insists that in order to provide sufficient financial resources, the euro area fiscal capacity, including the EMF, should be able to increase the issuance of equities via a rise in guarantees; considers that these common issued equities should have the highest credit rate;deleted
2016/06/09
Committee: BUDGECON
Amendment 786 #
Motion for a resolution
Paragraph 41
41. Considers that in order to provide for a genuine EMU, a euro area treasury should be created for collective decision- making, supervision and management of the budgetary capacity for the euro area; calls for the inclusion of this treasury within the European Commission with full macroeconomic, fiscal and financial competences; calls for a vice-president of the European Commission to head the treasury and simultaneously to act as president of the Eurogroup; urges full accountability of this treasury to the European Parliament;deleted
2016/06/09
Committee: BUDGECON
Amendment 805 #
Motion for a resolution
Paragraph 42
42. Considers that those non-euro countries that do not have an opt-out will eventually become part of the EMU and therefore may join the governance framework on a voluntary basis with a special status;deleted
2016/06/09
Committee: BUDGECON
Amendment 819 #
Motion for a resolution
Paragraph 43
43. Acknowledges that the current political climate is characterised by deep inequality, mislow levels of trust and that uncertainty is not conducive to proper reforms to achieve and completdeepen the EMU; believes, therefore, that a comprehensive roadmap, including clear milestoneit is wvithin an agreed timetable and taking into account the political situation, should be urgently adopted with a clear commitment by euro area Heads of State and Government to achieving a genuine and complete EMUal to first abide by the present set of rules before any further deepening of the EMU is warranted;
2016/06/09
Committee: BUDGECON