33 Amendments of Sylvie GOULARD related to 2011/2011(INI)
Amendment 3 #
Motion for a resolution
Recital A
Recital A
A. whereas the development of the world economy during the last decades generally has been remarkably successful, with the number of people living in relative prosperity increasing from one to four billion, but this development has not remedied inequalities, with the result that more than one billion people are still living below the poverty threshold and, according to statistics from the International Labour Organisation for 2009, nearly 40% of workers are living in poverty, thus justifying the European Union’s decision to make combating poverty one of the priorities of the EU 2020 strategy,
Amendment 9 #
Motion for a resolution
Recital A b (new)
Recital A b (new)
Ab. whereas the development of the global economy in recent decades has suffered from unsustainable imbalances,
Amendment 10 #
Motion for a resolution
Recital A c (new)
Recital A c (new)
Ac. whereas effective global economic governance would make it possible to minimise the negative impacts and correct the dangerous effects of globalisation, such as the rise in inequality or destruction of the environment,
Amendment 34 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas it is essential to ensure that economic and financial systems do not harm the real economy,
Amendment 39 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Stresses that an imbalance as such does not necessarily constitute a threat to financial stability or economic growth; taking this into account, stresses that imbalances stemming from structural misalignments and a lack of competitiveness in the domestic economy should be addressed, as this is where the fundamental problems are to be foundupports the work and commitments of G20 States to implement medium-term fiscal consolidation, pursuing appropriate monetary policies, enhancing exchange rate flexibility to better reflect underlying economic fundamentals, and structural reforms to foster job creation and contribute to global rebalancing;
Amendment 44 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
Amendment 45 #
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Considers that one of the priority objectives of global economic governance should be to create a framework conducive to long-term investment;
Amendment 46 #
Motion for a resolution
Paragraph 1 c (new)
Paragraph 1 c (new)
1c. Stresses that an imbalance as such does not necessarily constitute a threat to financial stability or economic growth; stresses, however, that it is important to remedy a certain number of imbalances which give rise to fundamental problems;
Amendment 47 #
Motion for a resolution
Paragraph 2
Paragraph 2
Amendment 59 #
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 75 #
Motion for a resolution
Paragraph 7
Paragraph 7
Amendment 81 #
Motion for a resolution
Paragraph 8
Paragraph 8
Amendment 87 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Takes the view that the commitments given in the G20 need to be more concrete and that progress needs to be monitored by an independent body, such as the IMF;
Amendment 91 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. StresseRecalls the need to agree a set ofperform macroeconomic indicators that will allow this monitoring to take place at a global level; underlines that these indicators should cover internal imbalances, such asmonitoring at a global level; warmly welcomes therefore the adoption of a series of indicators at G20 level; is gratified that these indicators cover not only public debt and deficits andbut also private savings and debt, as well as external imbalances from trade and investment flows and transferin order to take into account internal imbalances; deplores, however, the fact that exchange rates and competitiveness are not among the indicators chosen, although they are useful for the purpose of assessing external imbalances;
Amendment 96 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Stresses that financial actors are evolving at global level and therefore considers it necessary to remedy very speedily the lacunae in coordination of financial regulation in order to prevent certain financial actors from taking advantage of regulatory arbitrage;
Amendment 97 #
Motion for a resolution
Paragraph 11 b (new)
Paragraph 11 b (new)
11b. Calls on the various international forums to continue with their efforts in relation to the issue of excessive salaries in the financial sector, and to develop comprehensive and balanced responses;
Amendment 101 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that the European Union must play a leading role in global economic reform to make international institutions more legitimate, transparent and accountable; Takes the view that global economic governance must enhance the complementarity of legitimate supra- national institutions operating in specific sectors, which act as shock absorbers and help to preserve global financial stability; emphasises, however, that institutional forums (such as the G7, G10 and G20) play a significant role in those areas in which the decision-making process continues to be confined to national level, in helping to develop standards and codes and facilitating the coordination of macro-economic policies;
Amendment 107 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Maintains that global economic governance must be sufficiently responsive, flexible and pragmatic to make it possible to establish which arrangements are the most suitable, depending on the circumstances and in accordance with the principle of subsidiarity;
Amendment 108 #
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12b. Stresses that the European Union must play a leading role in global economic reform to make international institutions and informal forums more legitimate, transparent and accountable;
Amendment 109 #
Motion for a resolution
Paragraph 12 c (new)
Paragraph 12 c (new)
12c. Notes that these institutions and forums, in particular the G20, lack a certain parliamentary legitimacy at the global level, and consequently calls on them to involve parliaments in their decision-making processes; deplores the democratic shortcomings of some partners;
Amendment 110 #
Motion for a resolution
Paragraph 12 d (new)
Paragraph 12 d (new)
12d. Considers the G20 to be a crucial stage in, and a key forum for, global cooperation, notwithstanding issues of representativeness; calls, therefore, for adjustments to ensure more satisfactory representation of the states within it, and for similar adjustments to international economic and financial institutions;
Amendment 111 #
Motion for a resolution
Paragraph 12 e (new)
Paragraph 12 e (new)
Amendment 112 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Underlines the need for a global understanding and a common approach regarding monetary policy, sustainable public finances and flexible currencies based on economic fundamentals; considers that the global economy should be characterised by free trade in all sectorsmost sectors, where this is possible in the light of extra-economic conditions of production (such as social and environmental conditions); stresses that the IMF and WTO should be the core of such a process, with input from the G20 and other relevant bodies;
Amendment 119 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recommends a strong and independent IMF with sufficient tools and resources enabling it to increase its attention to cross- country linkages by not only strengthening multilateral surveillance but also focussing on economies of systemic importance and developing indicators to assess durable large imbalances;
Amendment 123 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Emphasises the importance of the international initiatives undertaken in the areas of accounting and audit standards, for example; notes, accordingly, that the IMF and the G20 are not the only players in global economic governance;
Amendment 124 #
Motion for a resolution
Paragraph 15
Paragraph 15
Amendment 145 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Emphasises the progress made in the European Union thanks to the establishment of the European Systemic Risk Board (ESRB) and the three European Supervisory Authorities (ESAs); hopes that this experience can yield valuable lessons for the establishment of a financial supervisory system at the global level;
Amendment 146 #
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16b. Stresses the need to give European financial supervisory bodies a clear mandate to work in close cooperation with their non-EU or international counterparts, as the ESRB does with the Financial Stability Board (FSB);
Amendment 147 #
Motion for a resolution
Paragraph 16 c (new)
Paragraph 16 c (new)
16c. Stresses the need to combine micro- and macro-prudential supervision as part of a coherent, uniform approach;
Amendment 150 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Recommends an enhanced macro- prudential dialogue, with a focus on the Atlantic dialogue, even-handed implementation of the Basel III packageprinciples of the Basel III package – with due regard for the existing range of banking structures – and further discussions on widening the scope of supervision to non-bank financial institutions;
Amendment 154 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Welcomes the establishment of the Global Economy Meeting of central bank governors under the auspices of the Bank for International Settlements (BIS), as a reference group for the organisation of cooperation among central banks;
Amendment 155 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17b. Is concerned about the risk of fragmentation as a result of the variety of regulations affecting the activities of global financial players; calls, therefore, for a greater degree of integration between the mechanisms put in place in different sectors;
Amendment 183 #
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Recalls that, under Article 138 of the Lisbon Treaty, the eurozone is supposed to introduce unified external representation; urges the Commission to put forward a legislative proposal to that effect;