Activities of Ramón JÁUREGUI ATONDO related to 2017/0333R(APP)
Shadow opinions (1)
OPINION on the proposal for a Council regulation on the establishment of the European Monetary Fund
Amendments (24)
Amendment 1 #
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the integration of the European Stability Mechanism (ESM) into the EU legal order; recalls that such integration must be accompanied by appropriate democratic accountability; notes that only such integration will ensure ESM management in accordance with the Community method, enable consistency of fiscal rules and obligations, facilitate fiscal and economic policy coordination, and enhance democratic legitimacy and accountability through the European Parliament;
Amendment 2 #
Draft opinion
Paragraph 1
Paragraph 1
1. Welcomes the proposal for an integration of the European Stability Mechanism (ESM) into the EU legal order; recalls that such integration must be accompanied by appropriate democratic accountability;
Amendment 4 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Recalls that the monetary policy in the Union is an exclusive competence of the ECB;
Amendment 5 #
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Believes that any attempt to introduce the IMF framework into the EU legal framework should be avoided taking into account the whole institutional setting of the EU and of the Euro area,
Amendment 6 #
Draft opinion
Paragraph 1 c (new)
Paragraph 1 c (new)
1 c. Asks the successor of the European Stability Mechanism to be called the European Stability Fund (ESF)
Amendment 9 #
Draft opinion
Paragraph 2
Paragraph 2
2. Takes note of the proposed provisions regarding the accountability of the future European MonetarStability Fund (EMSF) to the European Parliament and the Council; notes in particular that the rules regarding the accountability of the EMF to the European Parliament mirror the already existing arrangements applicable to the Single Resolution Board (SRB), the European Central Bank (ECB) acting within the framework of the Single Supervisory Mechanism (SSM) and the European Systemic Risk Board (ESRB);
Amendment 10 #
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Believes that the relevant accountability framework for the future ESF should refer to the economic governance as a whole, recalls the request of this Parliament for an interinstitutional arrangement in this field,
Amendment 13 #
Draft opinion
Paragraph 3
Paragraph 3
3. Requests that the European Parliament be informed immediately and in an appropriate manner of the decisions that have been taken by the EMSF and approved by the Council;
Amendment 16 #
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses that complete, accurate and timely information is a prerequisite for proper accountability; insists therefore, that the highest standard of transparency be laid down in the future interinstitutional agreement between the EMSF and the European Parliament regarding the decisions of the EMSF, the background of such decisions, access to EMSF documents and the records of discussions within the EMSF;
Amendment 17 #
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Emphasizes the need for democratic accountability of the future Board of Directors of the EMF; regrets the lack of institutional involvement in their proposed selection procedure and calls for the inclusion of the European Parliament and the European Council in the decision on their appointment;
Amendment 24 #
Draft opinion
Paragraph 5
Paragraph 5
5. Understands the need for the Member States to validate decisions that have an impact on fiscal resources; stresses, however, that the EMSF is an instrument for crisis management, and should therefore be able to act swiftly; calls for the right balance to be struck between, on the one hand, ensuring democratic control of the EMSF and its accountability to the participating Member States and, on the other hand, the need to enable the requisite actions to be taken quickly, in particular by preventing an overly cumbersome decision-making process when approval has to be obtained from the Council; welcomestakes note of the provisions that ensure the transparency of the EMSF and its accountability to the national parliaments of the EMSF members and of the other participating Member States.
Amendment 26 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Calls for initiating a meaningful ESM reform in the short term by means of a revision of the ESM Treaty, without prejudice to more ambitious developments in the future; notes that such reform should focus on strengthening the EMU and improvement of the decision-making procedure, especially in urgent situations;
Amendment 27 #
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Notes that both the inclusion of the ESM and the introduction of the EMF change the institutional architecture of the EU, calls therefore for the matter to be incorporated in the wider discussion on the possible future revision of the Treaties.
Amendment 103 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Suggests that the ESM be renamed not the European Monetary Fund (EMF) but be called the European Stability Fund (ESF), making it clear that the eurozone’s monetary policy remains the exclusive competence of the ECB;
Amendment 126 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls its previous positions in favour of the incorporation of the ESM into the EU legal framework, which would make it a fully-fledged EU body; welcomes the Commission proposal for an integration of the ESM into the EU legal order; insists that this incorporation should continue to be understood as part of the EMU completion project; believes that such an integration would allow for management in accordance with the Community method, ensure the full consistency of fiscal rules and obligations, facilitate economic and fiscal policy coordination, and enhance democratic legitimacy and accountability through the European Parliament;
Amendment 142 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Notes that the Commission’s proposal has generated a lively discussion on its political, financial and legal implications, and that discussions continue on a number of important issues; stresses, however, that this debate on the long-term vision of the new ESMF’s institutional setting should not delay the steps urgently required to strengthen the EMU and its capacity to promote financial stability and respond to economic shocks; calls, therefore, for a meaningful ESM reform in the short term by means of a revision of the ESM Treaty, without prejudice to more ambitious developments in the future;
Amendment 156 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Underlines that the primary mission of the new ESF should continue to be to provide transitional financial assistance to Member States in need, on the basis of the agreed adjustment programmes; stresses that the ESF must have adequate firepower for that purpose; opposes, therefore, any attempt to turn the reformednew ESMF into an instrument for banks only, or to reduce its financial capacity to support Member States; recalls that financial assistance provided to Member States under the new ESF has to be complemented by other fiscal capacity tools, including precautionary instruments, to promote economic and financial stabilisation, investment and upward socioeconomic convergence in the euro area;
Amendment 168 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that the reformednew ESMF should play a more prominent role in the management of financial assistance programmes, alongside the Commission and in close cooperation with the ECB, ensuring that the EU institutional framework has more autonomy whenever needed, without prejudice to appropriate partnerships with other institutions, namely the International Monetary Fund;
Amendment 169 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Believes that any attempt to introduce the IMF framework into the EU legal framework should be avoided taking into account the whole institutional setting of the EU and of the Euro area;
Amendment 192 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Highlights the need for an efficient decision-making procedure in the reformednew ESMF, particularly in the case of urgent situations;
Amendment 224 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Believes that the relevant accountability framework for the future ESF should refer to the economic governance as a whole, recalls the request of this Parliament for an interinstitutional arrangement in this field;
Amendment 226 #
Motion for a resolution
Paragraph 11 b (new)
Paragraph 11 b (new)
11 b. Believes that any provisional arrangement concluded between the EP and new ESF would give a signal that increases the autonomy of the latter when the strong position of the EP is that it should, as proposed by the Commission, be integrated in the Treaty and the EU legal order;
Amendment 232 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Invites the ESMF to establish a protocol for a Memorandum of Cooperation (MoC) with the European Parliament, with immediate effect, to further promote institutional dialogue and enhance the ESMF’s transparency, accountability and democratic legitimacy in line with the further deepening of interinstitutional cooperation on the economic governance of the euro area;
Amendment 234 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Stresses that complete, accurate and timely information is a prerequisite for proper accountability; insists therefore, that the highest standard of transparency be laid down in the future interinstitutional agreement between the ESF and the European Parliament regarding the decisions of the ESF, the background of such decisions, the access to ESF documents and the records of discussions within the ESF;