2003/2135(INI) | [ParlTrack]

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General Activities Documents History

2003/2135(INI) Situation of the European economy, report on the broad guidelines for economic policies BGEP

Role	Committee	Rapporteur	Shadows
Lead	ECON	RANDZIO-PLATH Christa (PSE)
Opinion	EMPL

Lead committee dossier: ECON/5/19855
Legal Basis RoP 052

Subjects

5.10.01 Convergence of economic policies, public deficit, interest rates

Links

Activites

2004/02/26 Decision by Parliament, 1st reading/single reading
- T5-0116/2004 summary
  
  The European Parliament adopted a resolution based on the own-initiative report drafted by Christa RANDZIO-PLATH (PES, Germany) on the broad economic guidelines. (Please see the summary of 27/01/04.) Parliament called on the Member States to implement the requisite structural reforms and political measures with a view to creating a business climate conducive to entrepreneurial enterprise, innovation and industrial competitiveness. Parliament was concerned about the decline in investment in the knowledge-based economy, the increase in the R&D investment gap between the EU and the US, the 'brain drain' phenomenon and the concentration of EU firms' transnational R&D expenditure in the USA, indicating that the EU is becoming less attractive as a location for R&D for industry, and the dramatic decline of risk capital activity. Member States should increase the number and attractiveness of research positions and improve the career development for researchers in order to prevent the 'brain drain' to the US. Parliament also called for an urgent mobilisation of private-sector investment for R&D with a special focus on seed and start-up venture capital for microenterprises and SMEs. It also noted with concern that Europe has lost its advance in environmentally friendly technologies and renewable energies in the past years, and favoured the introduction of nano- and bio- communication, and other clean technologies. Parliament went on to ask for an intensified public-private partnership with particular support for SMEs, and the development of a coherent industrial policy. There must be intensified co-operation between public research institutions and industry, with a special focus on SMEs, a stronger participation of industry in the determination of priorities for public research, but also a substantial increase of private sector financial contribution. Parliament felt that the EIB should develop new funding arrangements to foster the development and market introduction of new technologies, including grouped loans for specific research activities, technology platforms, and simplified lending procedures for midsized firms. Finally, Parliament recommended that the existing margin for manoeuvre offered within the current Financial Perspectives be used now, by taking full advantage of the EU budget and European funds, in particular structural funds, to better reflect and implement the Lisbon strategy.�
2004/02/25 Debate in Parliament
- Debate in Parliament
2004/01/27 Vote in committee, 1st reading/single reading
- A5-0045/2004
2003/09/04 Committee referral announced in Parliament, 1st reading/single reading

Documents

Committee report tabled for plenary, single reading: A5-0045/2004
Debate in Parliament: Debate in Parliament
Decision by Parliament, 1st reading/single reading: T5-0116/2004

History

(these mark the time of scraping, not the official date of the change)

2019-07-06Show (13) Changes | Timetravel

activities	date: 2003-09-04T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP responsible: True committee: ECON date: 2002-11-27T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PSE name: RANDZIO-PLATH Christa body: EP responsible: False committee_full: Employment and Social Affairs committee: EMPL body: EP committees: body: EP responsible: True committee: ECON date: 2002-11-27T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PSE name: RANDZIO-PLATH Christa body: EP responsible: False committee_full: Employment and Social Affairs committee: EMPL docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2004-45&language=EN type: Committee report tabled for plenary, single reading title: A5-0045/2004 date: 2004-01-27T00:00:00 type: Vote in committee, 1st reading/single reading date: 2004-02-25T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20040225&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament date: 2004-02-26T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P5-TA-2004-116 type: Decision by Parliament, 1st reading/single reading title: T5-0116/2004 body: EP type: Decision by Parliament, 1st reading/single reading
committees/0	type Responsible Committee body EP associated False committee_full Economic and Monetary Affairs committee ECON date 2002-11-27T00:00:00 rapporteur name: RANDZIO-PLATH Christa group: Party of European Socialists abbr: PES
committees/0	body EP responsible True committee ECON date 2002-11-27T00:00:00 committee_full Economic and Monetary Affairs rapporteur group: PSE name: RANDZIO-PLATH Christa
committees/1	type Committee Opinion body EP associated False committee_full Employment and Social Affairs committee EMPL opinion False
committees/1	body EP responsible False committee_full Employment and Social Affairs committee EMPL
docs	date: 2004-01-21T00:00:00 docs: url: http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2004/0020/COM_COM(2004)0020_EN.pdf title: COM(2004)0020 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2004&nu_doc=20 title: EUR-Lex summary: This Communication presents a first assessment of the follow-up given to the general guidelines in the 2003-05 Broad Economic Policy Guidelines (BEPGs). The European Commission focuses on the three main areas defined in the Lisbon strategy: - growth- and stability-oriented macroeconomic policies; - economic reforms to raise Europe's growth potential; and - strengthening sustainability. Although some progress has been made in a few policy areas, it does not appear as if the overall pace of reforms has been stepped up as requested by the Council. There is a clear risk that with the current reform pace, full implementation of the BEPGs can not be secured by 2006, thereby putting the fulfillment of the Lisbon targets by 2010 at risk. The main points cited in this communication are as follows: - Economic stagnation reigned in the first half of 2003 and, despite a clear improvement in economic activity in the third quarter, growth over the year as a whole is expected to have been a modest 0.8% in the EU (and only 0.4% in the euro area). - Macroeconomic policies supported growth in 2003. Both the ECB and the national central banks in Denmark, Sweden, and the United Kingdom lowered further their key interest rates, thereby supporting domestic demand. Despite the appreciation of the euro, overall monetary conditions remained accommodative. The free play of automatic stabilisers helped to stabilise the economy. The EU's cyclically-adjusted primary balance remained broadly unchanged, indicating an overall neutral fiscal stance in 2003. - The economic slowdown continued to weigh on public finances and progress seems mixed as regards reaching or maintaining a sound budgetary position. The average nominal budget deficit worsened further in 2003 to 2.7% of GDP. However, differences are sizeable across Member States. Belgium, Denmark, Spain, Austria, Finland and Sweden had a cyclically-adjusted budgetary position close to balance or in surplus in 2002. With the exception of Austria, the other five Member States maintained such a budgetary position in 2003. Nominal deficits deteriorated sharply in several other Member States, with two countries (Germany and France) expected to have deficits exceeding the 3% of GDP limit by a wide margin in 2003. While the economic slowdown is the main factor behind the recent deterioration in the public finances, part of the slippage in 2003 also stems from discretionary measures in some Member States (notably Greece, Austria, and the United Kingdom). - The labour market performed quite well in the beginning of this economic downturn, reaping the benefits of earlier reforms but also reflecting labour hoarding. The effect of the slowdown started to be felt more strongly in 2003 with employment growth stagnating and a continued rise in unemployment. The increase in the pace of labour market reforms in 2003 appears encouraging, but it needs to accelerate further. In particular, efforts have been made by most Member States to make work pay, even if reforms remain focused on the tax side. Some Member States have taken action to address incentive effects in the benefit systems (Denmark, Germany, France, the Netherlands, and the United Kingdom), which contribute most to the risk of unemployment- and inactivity traps. Several Member States have taken further measures to make the work organization more adaptable (notably Denmark, Spain, France, Italy, the Netherlands and Sweden) and most Member States aim to foster occupational mobility through lifelong learning initiatives. Active labour market policies have also become better in responding to the individual needs of the unemployed. However and despite some improvements noted or planned in Denmark, Ireland, and the Netherlands, progress appears limited as regards improving the efficiency of ALMPs: e.g. evaluations are not systematically carried out or reported. Progress also appears limited in promoting wage differentiation or addressing the regulatory burden in the labour market. Despite the progress noted with some types of labour market reforms, the Lisbon- and Stockholm employment rate targets risk being missed. - Labour productivity growth continued to disappoint and the gap with the USA widened. Lower labour productivity per hour worked now represents 40% of the difference in GDP per capita between the EU and the USA. The gradual deterioration in labour productivity growth since the mid-1990s can be explained in equal parts by the slowdown in investment and in total factor productivity (which generally include effects from more efficient resource utilisation, technological progress and the natural catching-up process of lesser developed EU countries). ICT and their adoption are a key driver of productivity growth and the differentials between the EU and US productivity trends are strongly influenced by differences in the extent to which ICTs have penetrated the respective economies. This illustrates the need to stimulate market integration, business dynamism, and investment, particularly in knowledge. - As regards capital markets, the Risk Capital Action Plan is almost completely implemented. The Financial Services Action Plan is well on the way to full implementation and transposition of the adopted legislative measures into national law has begun. However, a final effort is required to meet the 2005 deadline. Integration of clearing and settlement arrangements has become a clear priority for action at both the EU and the Member State level in 2003. Following corporate scandals in recent years, several Member States have strengthened corporate governance arrangements at the national level, while the Commission has adopted an Action Plan on company law and corporate governance in May 2003. Financial supervision arrangements are being streamlined, both at Member State- and EU level. - Long-term sustainability of public finances, particularly in view of the ageing population, is not yet secured in about half of the Member States, notably Belgium, Germany, Greece, Spain, France, Italy, and Portugal. While significant progress has been made through pension reform measures in some Member States in 2003, in particular in France and Austria, less progress was made in bringing the public debt down. Public debt remained above 60% of GDP in 2003 in six Member States, including in Belgium, Greece, and Italy where it continued to exceed 100% of GDP. - Some progress has been made towards improving environmental sustainability in 2003. At the EU level, the Council extended the coverage of Community legislation in energy taxation (on e.g. minimum taxation levels). Several Member States (e.g. Belgium, the Netherlands, and Sweden) took further measures to promote the use of renewable energy. Other Member States (notably Germany and Austria) took measures in the area of transport pricing. In the United Kingdom, congestion charges were introduced in London, causing a marked change in behaviour. In contrast, and despite the good progress made at the end of the 1990s, no progress was noted as regards reduction of greenhouse gas emissions. type: Follow-up document body: EC date: 2004-01-27T00:00:00 docs: title: PE333.079 type: Committee draft report body: EP date: 2004-01-27T00:00:00 docs: title: PE333.079/AM type: Amendments tabled in committee body: EP date: 2004-01-27T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2004-45&language=EN title: A5-0045/2004 type: Committee report tabled for plenary, single reading body: EP date: 2004-02-26T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P5-TA-2004-116 title: T5-0116/2004 title: OJ C 098 23.04.2004, p. 0021-0162 E summary: type: Text adopted by Parliament, single reading body: EP
events	date: 2003-09-04T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP date: 2004-01-27T00:00:00 type: Vote in committee, 1st reading/single reading body: EP summary: date: 2004-01-27T00:00:00 type: Committee report tabled for plenary, single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2004-45&language=EN title: A5-0045/2004 date: 2004-02-25T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20040225&type=CRE title: Debate in Parliament date: 2004-02-26T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P5-TA-2004-116 title: T5-0116/2004 summary: date: 2004-02-26T00:00:00 type: End of procedure in Parliament body: EP
links
other
procedure/dossier_of_the_committee	Old ECON/5/19855 New ECON/5/19855
procedure/legal_basis/0	Rules of Procedure EP 052
procedure/legal_basis/0	Rules of Procedure of the European Parliament EP 052
procedure/subject	Old 5.10.01 Convergence of economic policies, public deficit, interest rates New 5.10.01 Convergence of economic policies, public deficit, interest rates

2014-11-10Show (5) Changes

activities	date: 2003-09-04T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP responsible: True committee: ECON date: 2002-11-27T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PSE name: RANDZIO-PLATH Christa body: EP responsible: False committee_full: Employment and Social Affairs committee: EMPL body: EP committees: body: EP responsible: True committee: ECON date: 2002-11-27T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PSE name: RANDZIO-PLATH Christa body: EP responsible: False committee_full: Employment and Social Affairs committee: EMPL docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2004-45&language=EN type: Committee report tabled for plenary, single reading title: A5-0045/2004 date: 2004-01-27T00:00:00 type: Vote in committee, 1st reading/single reading date: 2004-02-25T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20040225&type=CRE type: Debate in Parliament title: Debate in Parliament body: EP type: Debate in Parliament date: 2004-02-26T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P5-TA-2004-116 type: Decision by Parliament, 1st reading/single reading title: T5-0116/2004 body: EP type: Decision by Parliament, 1st reading/single reading
committees	body: EP responsible: True committee: ECON date: 2002-11-27T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PSE name: RANDZIO-PLATH Christa body: EP responsible: False committee_full: Employment and Social Affairs committee: EMPL
links
other
procedure	dossier_of_the_committee ECON/5/19855 reference 2003/2135(INI) title Situation of the European economy, report on the broad guidelines for economic policies BGEP legal_basis Rules of Procedure of the European Parliament EP 052 stage_reached Procedure completed subtype Initiative type INI - Own-initiative procedure subject 5.10.01 Convergence of economic policies, public deficit, interest rates

Activites

Documents

History

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