Activities of Danuta JAZŁOWIECKA related to 2009/2090(INI)
Plenary speeches (1)
ECB annual report for 2008 - Report on the 2009 Annual Statement on the Euro Area and Public Finances (debate)
Amendments (2)
Amendment 38 #
Motion for a resolution
Paragraph 10 a (new) (before subheading "Exit strategy")
Paragraph 10 a (new) (before subheading "Exit strategy")
10a. Is of the opinion that the ECB could have used some other policy actions in order to stabilise the economic situation in the new Member States; therefore invites the ECB to consider two instruments that could help to stabilise the economy during the crisis in those countries, namely temporary reciprocal currency arrangements (swap lines) and wider collateral; calls on the ECB to introduce swap lines with central banks of the new Member States to provide them with euro liquidity against their own currencies, and temporarily to accept as eligible securities for its repurchase transactions with counterparties not only government bonds issued in euro, but also those issued in the domestic currencies of the newer Member States; opines that this would be an extension of the ECB’s recent decision to accept low-quality securities as collateral; is of the opinion that the ECB should not take exchange- rate risks and should therefore apply appropriate haircuts to non-euro sovereign bonds to cover that risk; considers that this initiative would eliminate the current strong incentive for banks in the euro area not to hold in their portfolios government bonds denominated in the domestic currencies of the newer Member States;
Amendment 44 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. States that Member States should continue with their current fiscal stimulus measures to protect jobs, encourage investment and stimulate growth; points out, however, that applying fiscal stimulus measures for too long leads to excessive debt and can mean a reduction in potential economic growth and, in the worst case, a recession;