Activities of Evelyn REGNER related to 2022/2037(INI)
Plenary speeches (1)
European Central Bank - annual report 2022 (debate)
Legal basis opinions (0)
Amendments (15)
Amendment 59 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Understands the current challenges, uncertainty and complex environment to drive the monetary policy. Notes that ECB has limited tools or influence to address an high inflation trend that is mainly supply driven. Welcomes the assurance by the ECB and its members to be ready to take the actions needed to safeguard financial stability;
Amendment 65 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Highlights that the statutory independence of the ECB, as laid down in the Treaties, is a prerequisite for it to fulfil its mandate; Highlights that central bank independence should be accompanied by a corresponding level of accountability;
Amendment 80 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that fiscal, budgetary and monetary policies have reinforced each other during the pandemic; stresses that maintaining price stability today requires even closer coordination between fiscal, budgetary, monetary and structural policies, as addressing supply- side shocks requires greater supply-chain resilience and a shift away from fossil fuels;with the appropriate level of investment, and a shift away from fossil fuels; Notes that during COVID, all EU institutions and Member States worked together, swiftly, in a coordinated manner and within their mandates to tackle the social, economic and financial impacts of the crisis
Amendment 85 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Highlights that unprecedented crises demand unprecedented, innovative and bold decisions on monetary policy coupled with swift and broader coordination with the fiscal policy at EU and national level;
Amendment 86 #
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Stresses that sustainable growth, resilience and price stability cannot be achieved by monetary policy alone and that supportive and discretionary fiscal policy and socially balanced and productivity-enhancing reforms and investments are also necessary;
Amendment 97 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Highlights that monetary and fiscal policies should work together to help households and businesses most affected by the pandemic and the Russian war of aggression against Ukraine;
Amendment 98 #
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Recalls on the lessons learned and success of new EU instruments such as SURE and the design and operating model of the Recovery and Resilience Facility (RRF), that are currently on EU´s toolbox. Underlines the role of SURE model for short term and targeted interventions and the RRF as a long-term investment capacity to support structural strategic investments in Europe;
Amendment 100 #
Motion for a resolution
Paragraph 5 d (new)
Paragraph 5 d (new)
5 d. Calls on the ECB to explore ways of strengthening the international role of the euro; notes that making the euro more attractive as a reserve currency will further enhance its international use; stresses that the creation of a well- designed European safe asset could facilitate financial integration and help mitigate the negative feedback loops between sovereigns and the domestic banking sectors; Underlines that strengthening the role of the euro requires the deepening and completion of the European economic and monetary union, including the creation of instruments of the nature of Next Generation EU, which enhance the EU budget;
Amendment 128 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Takes note of recent ECB monetary policy decisions to raise rates by 50 and 75 basis points in July and September 2022; is concerned about the implications of such policy decisions for growth and employment; Calls for a reflection of a more balanced and gradual adjustment of policy instead of a large and fast upfront tightening. Notes that latest economic and financial indicators point that EU economy is likely heading towards a worse than expected recession with the risk of a wide negative social impact with only moderate effect on the inflation rate. Calls for a more insight update and justification of the future policy rate decisions, given the current situation and high level of uncertainty;
Amendment 142 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Observes that there is little evidence that rising inflation is spurring a wage-price spiral, not least given the extent of wage restraint in recent years; Notes that the IMF, in its 2022 World Economic Outlook, concluded that, on average, the risks of a wage spiral are limited, so far. Notes that IMF underlines that three main drivers are containing the risks: the shocks to inflation are coming from outside the labor market, falling real wages are helping to reduce price pressures, and central banks are aggressively tightening monetary policy;
Amendment 222 #
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Recalls for the important role of ECB in supporting the implementation of the European Pillar of Social Rights;
Amendment 251 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Highlights the ECB role to finance the climate transition and green agendas. Stresses that addressing the climate emergency and the euro area’s dependence on fossil fuels touches not only upon the ECB’s secondary mandate, but also its primary mandate, given the serious threat these issues pose to price stability;
Amendment 259 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Welcomes the Governing Council’s decision to take further steps to include climate change considerations in the Eurosystem’s monetary policy framework; Welcomes the launch of the scoreboard for green bonds;
Amendment 333 #
Motion for a resolution
Paragraph 31 a (new)
Paragraph 31 a (new)
31 a. Calls for Enhancement of the ECB’s internal whistleblowing framework;
Amendment 339 #
Motion for a resolution
Paragraph 31 c (new)
Paragraph 31 c (new)
31 c. Welcomes the new communications policy, with more accessible ways to explains and presents ECB policy decision to general public and stakeholders. Given the current negative impact of tightening of the monetary policy on household budgets and companies investment plans, suggests reinforcement of ECB´s communication on financial advices on how families and business could better manage and prepare for an higher interest rates environment;