Activities of Morten MESSERSCHMIDT related to 2015/2060(INI)
Shadow opinions (1)
OPINION on the EU role in the framework of international financial, monetary and regulatory institutions and bodies
Amendments (12)
Amendment 3 #
Draft opinion
Paragraph 1
Paragraph 1
1. Believes that the Union should play a more active and prominent role supporting its Member States in the process of global economic governance, and stresses the need for coherent EU representation and a strong European voice, relaying that of the sovereign nations, in international financial, monetary and regulatory institutions and bodies;
Amendment 13 #
Draft opinion
Paragraph 5
Paragraph 5
5. Advocates that the Union promote a unified and inclusive European approach in order to ensure thatEuropean approach respectful of the interests and inputs of all those Member States, including those that are not represented within these institutions or bodies, and ensuring that these are taken into account when a common stance is defined;
Amendment 18 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Emphasises how vital it is that the national parliaments should exercise democratic scrutiny over the activities of the European Union’s representatives in the international bodies and institutions, and that political accountability should be restored;
Amendment 19 #
Draft opinion
Paragraph 6
Paragraph 6
Amendment 20 #
Draft opinion
Paragraph 6
Paragraph 6
6. Recalls that the EU should seek full membership of such international economic and financial institutions, where this has not yet been granted and is appropriate (in the case of the Organisation for Economic Cooperation and Development and the International Monetary Fund (IMF), for instance)not undermine the sovereignty of the European countries which are members in their own right of such international economic and financial institutions, whether or not it has been granted membership itself;
Amendment 22 #
Draft opinion
Paragraph 7
Paragraph 7
Amendment 23 #
Draft opinion
Paragraph 7
Paragraph 7
7. Believes that in the future, with due regard to the distribution of competences between the EU and its Member States and the progress made towards deepening economic and monetary union, consideration should be g – which, however, has failed to delivenr to introducing unified external representationhe promised growth and prosperity and, ofn the EU and the euro area within the IMF and other international economic forums, in order to allcontrary, has made the euro area an island of economic stagnation in a sea of grow the EU to exploit its potential fully and to increase its relevance and influence within the global economic and financial architecture – it would be sensible to consider a thorough overhaul of the single currency and its geography, and of the European Central Bank’s aims;
Amendment 30 #
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Points out that the International Monetary Fund’s expertise can usefully contribute to thinking about the future of the single currency and reforms in that regard, as illustrated by the most recent (April 2015) World Economic Report study – albeit covering only four countries (Germany, France, Italy and Spain) accounting for 80% of euro area GDP – which measured precisely how, since 2000, the euro has undermined macroeconomic policy to the detriment of growth, and charted, too, its negative impact on growth potential;
Amendment 31 #
Draft opinion
Paragraph 8
Paragraph 8
8. Stresses the need to ensure the transparency, democratic accountability and legitimacy of the Union’s participation in existing economic and financial institutions via a tight and effective system of scrutiny by the national parliaments, which should be able to ‘show a red cardֹ’, particularly when Commission representatives stray beyond their negotiating briefs in international institutions, as, regrettably, has systematically been the case in the context of GATT and subsequently the WTO;
Amendment 38 #
Draft opinion
Paragraph 9
Paragraph 9
9. Considers that Parliament and the national parliaments should be duly informed of the Union’s activities within existing economic and financial institutions;
Amendment 43 #
Draft opinion
Paragraph 10
Paragraph 10
10. Stresses that Parliament and the national parliaments should be granted access to the relevant documents issued by economic and financial institutions, that an appropriate, open and efficient reporting mechanism should be developed, and that EU participants should systematically provide feedback to Parliament on the decisions taken in these forums;
Amendment 48 #
Draft opinion
Paragraph 11
Paragraph 11
11. Is of the opinion that the EU should, where and when necessary, and once it has set a good example itself in this regard, play a leading and more active role in promoting the reform of international economic and financial institutions with a view to making their functioning more democratic, transparent and accountable, via the close and effective involvement of national parliaments and scrupulous respect for national sovereignty, and thereby bringing them closer to citizens.