5 Amendments of Lorenzo FONTANA related to 2013/2277(INI)
Amendment 13 #
Motion for a resolution
Recital A
Recital A
A. whereas the Troika, consisting of the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF), originated in the decision of 25 March 2010 by euro area Heads of State and Government to provide conditional bilateral loans to Greece, and has since also been operatimposing its decisionals in Portugal, Ireland and Cyprus;
Amendment 63 #
Motion for a resolution
Recital D
Recital D
D. whereas the Troika together with the Member State concerned is also responsible for the preparation of formal decisions of the Eurogroup, which it then notifies to the Member State concerned;
Amendment 107 #
Motion for a resolution
Recital I
Recital I
I. whereas the economic situation and recent developments inthe unwillingness to look at other solutions, such as exit from the euro for some Member States, have compromised the quality of employment, social protection and health and safety standards;
Amendment 293 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Acknowledges, however, that the immense challenge the Troika faced leading to the crisis was unique as a result of the poor state of regulation of financial services, large macroeconomic imbalances, and the fact that a number of instruments such as external devaluation were not available due to the constraints of monetary union; notes, moreover, that time was running out, legal obstacles had to be cleared, fear of a melt-down of the euro area was palpablethere was strong opposition to the idea of breaking up the euro area, political agreements had to be reached, the world economy was in a downturn, and a number of countries which were intended to contribute financial support had seen their own public and private debt increase in alarming ways;
Amendment 464 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Notes that financial assistance achieved in the short run the avoidance of a disorderly default on sovereign debt that woulthe programmes to which the financial assistance was linked have had extremely severe economic and social consequences, as well as spill-over effects for other countries of an incalculable magnitude, and possibly the forced exit of countries from the euro area; further notes that there is no guarantee this will be avoided in the long run; also notes that the financial assistance and adjustment programme in Greece have not prevented an orderly default nor contagion of the crisis to other Member States; deplores the economic and social downturn which became evident when the fiscal and macroeconomic corrections were put into place;