{"change_dates":[],"dossier":{"amendments":[{"authors":"Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-1","location":[["Motion for a resolution","Recital A"]],"meps":[1985],"meta":{"created":"2019-07-03T05:21:57"},"new":["A. whereas the Members States have","experienced their deepest economic and","social crisis since the beginning of the","process of European integration;"],"old":["A. whereas the Members States have","experienced their deepest economic crisis","since the beginning of the process of","European integration;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"1","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-2","location":[["Motion for a resolution","Recital A a (new)"]],"meta":{"created":"2019-07-03T05:21:57"},"new":["Aa. whereas a stable currency and sound","fiscal policies have proven their worth, by","mitigating the effects of the crisis on","Europe;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"2","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-3","location":[["Motion for a resolution","Recital C"]],"meps":[1985],"meta":{"created":"2019-07-03T05:21:57"},"new":["C. whereas through the coordination over","time of fiscal policy and of anti-crisis","measures in the G-20, the EU and the","Member States have contributed to","avoiding further deterioration;"],"old":["C. whereas the coordination of fiscal policy","and of anti-crisis measures in the G-20, the","EU and the Member States has contributed","to avoiding further deterioration;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"3","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-4","location":[[" Motion for a resolution","Recital G"]],"meta":{"created":"2019-07-03T05:21:57"},"new":["G. whereas Member States\u2019 public deficits","are set to increase rapidly to about 7 % of","GDP in 2010, due to the combined impact","of higher expenditure through automatic","stabilisers and discretionary measures to","support the economy and the financial","sector, and lower tax revenues; whereas","some Member States already repeatedly","failed to meet the Stability Pact criteria","well before the crisis; whereas a return to","sound public finance is essential and a","precondition for the stability of our","common currency, but some Member","States are reluctant to take the necessary","measures;"],"old":["G. whereas Member States\u2019 public deficits","are set to increase rapidly to about 7 % of","GDP in 2010, due to the combined impact","of higher expenditure through automatic","stabilisers and discretionary measures to","support the economy and the financial","sector, and lower tax revenues; whereas,","however, a certain improvement of","deficits is expected in 2011;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"4","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-5","location":[[" Motion for a resolution","Recital H"]],"meta":{"created":"2019-07-03T05:21:57"},"new":["H. whereas the costs of the crisis were the","key reason for the renewed deterioration of","public finances, while the fiscal balances of","most Member States improved before the","crisis; whereas it must be noted, however,","that several Member States were running","high public debts even before the crisis;"],"old":["H. whereas the costs of the crisis were the","key reason for the renewed deterioration of","public finances, while the fiscal balances of","Member States improved before the crisis;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"5","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-6","location":[["Motion for a resolution","Recital I"]],"meta":{"created":"2019-07-03T05:21:57"},"new":["I. whereas the anticyclical public spending","was necessary to avoid an even more","severe economic downturn and is still","necessary to secure economic stability;","whereas, however, budget deficits, public","debt and unsustainable pension systems","are a serious obstacle to economic growth","and severely restrict spending in areas","such as education, care, innovation and","public services;"],"old":["I. whereas the anticyclical public spending","was necessary to avoid an even more","severe economic downturn and is still","necessary to secure economic stability;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"6","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Hans-Peter Martin","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-7","location":[["Motion for a resolution","Recital I a (new)"]],"meps":[4238],"meta":{"created":"2019-07-03T05:21:57"},"new":["Ia. whereas the establishment of the euro","area, while welcome, means that the","option of flexible national exchange rate","policies is no longer available,"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"7","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-8","location":[["Motion for a resolution","Recital J"]],"meta":{"created":"2019-07-03T05:21:58"},"new":["J. whereas it is almost impossible to","foresee a crisis of such exceptional","dimensions in policy plans, the Stability","and Growth Pact (SGP) was designed to","apply in good times and in bad, but many","Member States have ignored the","obligation under the SGP to prepare for","the bad times;"],"old":["J. whereas the rules of the Stability and","Growth Pact (SGP) were not designed for","the purposes of the expected post-crisis","level of public debt;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"8","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-9","location":[[" Motion for a resolution","Recital J"]],"meps":[96730],"meta":{"created":"2019-07-03T05:21:58"},"new":["J. whereas the fact that so many countries","would break the rules on the level of","public debt was not expected;"],"old":["J. whereas the rules of the Stability and","Growth Pact (SGP) were not designed for","the purposes of the expected post-crisis","level of public debt;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"9","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-10","location":[[" Motion for a resolution","Recital J"]],"meps":[96950],"meta":{"created":"2019-07-03T05:21:58"},"new":["J. whereas the rules of the Stability and","Growth Pact (SGP) were not designed for","the purposes of the expected post-crisis","level of public debt; whereas the rules of","the SGP were amended in 2005 so that","budgetary policies could be adapted to","cope with exceptional circumstances,"],"old":["J. whereas the rules of the Stability and","Growth Pact (SGP) were not designed for","the purposes of the expected post-crisis","level of public debt;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"10","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-11","location":[["Motion for a resolution","Recital J a (new)"]],"meps":[96730],"meta":{"created":"2019-07-03T05:21:58"},"new":["Ja. whereas globalisation compels the","euro area to take an effective role in","global economic and financial","governance;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"11","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-12","location":[["Motion for a resolution","Recital J b (new)"]],"meps":[96730],"meta":{"created":"2019-07-03T05:21:58"},"new":["Jb. whereas the potential of the euro is","insufficiently exploited at the global level","as the euro area has neither a properly","defined international strategy nor","effective international representation;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"12","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-13","location":[["Motion for a resolution","Paragraph 1"]],"meta":{"created":"2019-07-03T05:21:58"},"new":["1. Is alarmed by the expected contraction","of employment in the European Union","despite the exceptional efforts of monetary","and fiscal policy; underlines that in","addition to the exceptional recovery","measures, structural reforms must be","stepped up rather than stalled, so as to","make the European economy and labour","market more robust and resistant against","global economic turbulence;"],"old":["1. Is alarmed by the expected contraction","of employment in the European Union","","despite the exceptional efforts of monetary","and fiscal policy;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"13","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sophie Briard Auconie","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-14","location":[[" Motion for a resolution","Paragraph 1"]],"meps":[96862],"meta":{"created":"2019-07-03T05:21:58"},"new":["1. Is alarmed by the ongoing and expected","contraction of employment in the European","Union despite the exceptional efforts of","monetary and fiscal policy;"],"old":["1. Is alarmed by the expected contraction","of employment in the European Union","despite the exceptional efforts of monetary","and fiscal policy;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"14","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-15","location":[[" Motion for a resolution","Paragraph 2"]],"meta":{"created":"2019-07-03T05:21:58"},"new":["2. Welcomes the active and flexible","monetary policy of the ECB since August","2008 and the recent decision of a gradual","retreat;"],"old":["2. Welcomes the active and flexible","monetary policy of the ECB since August","2008;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"15","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Edward Scicluna","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-16","location":[["Motion for a resolution","Paragraph 2"]],"meps":[96671],"meta":{"created":"2019-07-03T05:21:58"},"new":["2. Welcomes the active and flexible","monetary policy of the ECB since August","2008 in extending liquidity provisions to","credit institutions;"],"old":["2. Welcomes the active and flexible","monetary policy of the ECB since August","2008;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"16","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-17","location":[["Motion for a resolution","Paragraph 2"]],"meps":[1928],"meta":{"created":"2019-07-03T05:21:58"},"new":["2. Welcomes the active and flexible","monetary policy of the ECB;"],"old":["2. Welcomes the active and flexible","monetary policy of the ECB since August","2008;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"17","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-18","location":[["Motion for a resolution","Paragraph 2"]],"meps":[1985],"meta":{"created":"2019-07-03T05:21:58"},"new":["2. Welcomes the active and flexible","monetary policy of the ECB since October","2008;"],"old":["2. Welcomes the active and flexible","monetary policy of the ECB since August","2008;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"18","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Edward Scicluna","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-19","location":[[" Motion for a resolution","Paragraph 3"]],"meps":[96671],"meta":{"created":"2019-07-03T05:21:58"},"new":["3. Is concerned that the extra liquidity","provided by the ECB and other central","banks has not been used by all banks to","ease the \u2018credit crunch\u2019 faced by industry","and, in particular, by small and medium","sized businesses;"],"old":["3. Is concerned about signs of credit","shortages while financial institutions have","access to cheap refinancing;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"19","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Edward Scicluna","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-20","location":[[" Motion for a resolution","Paragraph 4"]],"meps":[96671],"meta":{"created":"2019-07-03T05:21:59"},"new":["4. Welcomes the intensified cooperation","between the Council, the ECB and the","Eurogroup;"],"old":["4. Welcomes the intensified coordination","between the Council, the ECB and the","Eurogroup;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"20","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sophie Briard Auconie","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-21","location":[[" Motion for a resolution","Paragraph 4"]],"meps":[96862],"meta":{"created":"2019-07-03T05:21:59"},"new":["4. Welcomes the intensified cooperation","between the Council, the ECB and the","Eurogroup;"],"old":["4. Welcomes the intensified coordination","between the Council, the ECB and the","Eurogroup;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"21","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-22","location":[["Motion for a resolution","Paragraph 5"]],"meps":[96682],"meta":{"created":"2019-07-03T05:21:59"},"new":["5. Is concerned by the economic","consequences of the unfavourable","exchange rates of the US dollar, the","renminbi-yuan and some other currencies","for the economy of the European Union;","calls for enhanced international","macroeconomic dialogues in order to","adjust the exchange rates so that a more","balanced world economy may be","achieved;"],"old":["5. Is concerned by the economic","consequences of a fast loss of value of the","US dollar for the economy of the European","Union;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"22","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-23","location":[["Motion for a resolution","Paragraph 5"]],"meps":[97203],"meta":{"created":"2019-07-03T05:21:59"},"new":["5. Is concerned by the economic","consequences for the economy of the","European Union of a fast loss of value of","the US dollar and the renminbi-yuan,","which was artificially devalued by an","unlawful intervention of the Chinese","government;"],"old":["5. Is concerned by the economic","consequences of a fast loss of value of the","US dollar for the economy of the","European Union;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"23","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-24","location":[[" Motion for a resolution","Paragraph 5"]],"meps":[96730],"meta":{"created":"2019-07-03T05:21:59"},"new":["5. Is concerned by the economic","consequences of a fast loss of value of the","US dollar for the economy of the euro area","and the possible emergence of a new asset","bubble in Asia;"],"old":["5. Is concerned by the economic","consequences of a fast loss of value of the","US dollar for the economy of the","European Union;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"24","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Hans-Peter Martin","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-25","location":[[" Motion for a resolution","Paragraph 5"]],"meps":[4238],"meta":{"created":"2019-07-03T05:21:59"},"new":["5. Is concerned by the economic","consequences of a fast loss of value of the","US dollar and of China's problematic","exchange rate policy for the economic","development of the European Union;"],"old":["5. Is concerned by the economic","consequences of a fast loss of value of the","US dollar for the economy of the European","Union;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"25","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-26","location":[[" Motion for a resolution","Paragraph 5"]],"meps":[1985],"meta":{"created":"2019-07-03T05:21:59"},"new":["5. Is concerned by the economic","consequences of a fast loss of value of the","US dollar and the renminbi-yuan for the","economy of the European Union;"],"old":["5. Is concerned by the economic","consequences of a fast loss of value of the","US dollar for the economy of the European","Union;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"26","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-27","location":[["Motion for a resolution","Paragraph 5"]],"meps":[96950],"meta":{"created":"2019-07-03T05:21:59"},"new":["5. Is concerned by the economic","consequences of a fast loss of value of the","US dollar and the currencies linked to it","for the economy of the European Union;"],"old":["5. Is concerned by the economic","consequences of a fast loss of value of the","US dollar for the economy of the European","Union;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"27","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Edward Scicluna","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-28","location":[["Motion for a resolution","Paragraph 5"]],"meps":[96671],"meta":{"created":"2019-07-03T05:21:59"},"new":["5. Is concerned by the economic","consequences of a weak US dollar for the","economy, and particularly the exports, of","the European Union;"],"old":["5. Is concerned by the economic","consequences of a fast loss of value of the","US dollar for the economy of the European","Union;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"28","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophie Briard Auconie","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-29","location":[["Motion for a resolution","Paragraph 6"]],"meps":[96862],"meta":{"created":"2019-07-03T05:21:59"},"new":["6. Points out that the objective of price","stability can be achieved effectively only if","the root causes of inflation are properly","addressed;"],"old":["6. Points out that the objective of price","stability can be achieved effectively only if","the root causes of inflation are properly","","addressed; considers that the definition of","price stability should be reviewed facing","new increases of energy and food prices;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"29","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-30","location":[[" Motion for a resolution","Paragraph 6"]],"meps":[96730],"meta":{"created":"2019-07-03T05:21:59"},"new":["6. Points out that the objective of price","stability can be achieved effectively only if","the root causes of inflation are properly","addressed; underlines, in this context, that","the rise of inflation that occurred before","the outbreak of the financial crisis was","not caused by excessive internal demand","but resulted from a surge of prices of","assets (such as derivatives and housing)","and commodities; considers that the","concept of price stability as the basis for","monetary policy should be reviewed facing","new increases of energy and food prices;"],"old":["6. Points out that the objective of price","stability can be achieved effectively only if","the root causes of inflation are properly","addressed; considers that the definition of","price stability should be reviewed facing","new increases of energy and food prices;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"30","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-31","location":[[" Motion for a resolution","Paragraph 6"]],"meps":[97203],"meta":{"created":"2019-07-03T05:21:59"},"new":["6. Points out that the objective of price","stability can be achieved effectively only if","the root causes of inflation are properly","addressed; considers that the definition of","price stability should be reviewed facing","new increases of energy and food prices,","and of financial and real assets;"],"old":["6. Points out that the objective of price","stability can be achieved effectively only if","the root causes of inflation are properly","addressed; considers that the definition of","price stability should be reviewed facing","new increases of energy and food prices;",""],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"31","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-32","location":[["Motion for a resolution","Paragraph 7"]],"meps":[96682],"meta":{"created":"2019-07-03T05:21:59"},"new":["deleted"],"old":["7. Warns against focusing essentially on","wage moderation as a way to achieve","price stability; recalls that increased","global competition has already","contributed to a downward pressure on","wages, while higher commodity prices","have harmed the purchasing power of EU","consumers;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"32","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-33","location":[["Motion for a resolution","Paragraph 7"]],"meps":[97203],"meta":{"created":"2019-07-03T05:21:59"},"new":["deleted"],"old":["7. Warns against focusing essentially on","wage moderation as a way to achieve","price stability; recalls that increased","global competition has already","contributed to a downward pressure on","wages, while higher commodity prices","have harmed the purchasing power of EU","consumers;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"33","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Derk Jan Eppink","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-34","location":[[" Motion for a resolution","Paragraph 7"]],"meps":[97133],"meta":{"created":"2019-07-03T05:22:00"},"new":["deleted"],"old":["7. Warns against focusing essentially on","wage moderation as a way to achieve","price stability; recalls that increased","global competition has already","contributed to a downward pressure on","wages, while higher commodity prices","have harmed the purchasing power of EU","consumers;"],"orig_lang":"nl","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"34","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-35","location":[[" Motion for a resolution","Paragraph 7"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:00"},"new":["7. Underlines that wage moderation","discipline also acts as a brake on the","growth of household income and thereby","on private consumption; therefore, warns","against focusing essentially on wage","moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices have harmed the","purchasing power of EU consumers;"],"old":["7. Warns against focusing essentially on","wage moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices have harmed the","purchasing power of EU consumers;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"35","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophie Briard Auconie","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-36","location":[["Motion for a resolution","Paragraph 7"]],"meps":[96862],"meta":{"created":"2019-07-03T05:22:00"},"new":["7. Warns of the potential consequences for","consumer purchasing power of using","wage moderation as an instrument to","achieve price stability and maintain","competitiveness; recalls that increased","global competition has already contributed","to a downward pressure on wages, while","higher commodity prices have harmed the","purchasing power of EU consumers;"],"old":["7. Warns against focusing essentially on","wage moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices have harmed the","purchasing power of EU consumers;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"36","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-37","location":[["Motion for a resolution","Paragraph 7"]],"meta":{"created":"2019-07-03T05:22:00"},"new":["7. Warns against focusing essentially on","wage moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices have harmed the","purchasing power of EU consumers;","underlines that wage developments must","be linked to productivity; urges Member","States to further reduce non-wage labour","costs;"],"old":["7. Warns against focusing essentially on","wage moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices have harmed the","purchasing power of EU consumers;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"37","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-38","location":[[" Motion for a resolution","Paragraph 7"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:00"},"new":["7. Warns against focusing essentially on","wage moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices have harmed the","purchasing power of EU consumers;","proposes that real salaries should rise in","line with productivity gains, in order to","guarantee long-term stability in the","distribution of income;"],"old":["7. Warns against focusing essentially on","wage moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices have harmed the","purchasing power of EU consumers;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"38","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Hans-Peter Martin","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-39","location":[[" Motion for a resolution","Paragraph 7"]],"meps":[4238],"meta":{"created":"2019-07-03T05:22:00"},"new":["7. Warns against focusing essentially on","wage moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices and energy costs have","reduced the purchasing power of EU","consumers;"],"old":["7. Warns against focusing essentially on","wage moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices have harmed the","purchasing power of EU consumers;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"39","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Edward Scicluna","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-40","location":[["Motion for a resolution","Paragraph 7"]],"meps":[96671],"meta":{"created":"2019-07-03T05:22:00"},"new":["7. Warns against focusing exclusively on","wage moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices have harmed the","purchasing power of EU consumers;"],"old":["7. Warns against focusing essentially on","wage moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices have harmed the","purchasing power of EU consumers;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"40","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-41","location":[["Motion for a resolution","Paragraph 7"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:00"},"new":["(Does not affect English version.)"],"old":["7. Warns against focusing essentially on","wage moderation as a way to achieve price","stability; recalls that increased global","competition has already contributed to a","downward pressure on wages, while higher","commodity prices have harmed the","purchasing power of EU consumers"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"41","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophie Briard Auconie","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-42","location":[["Motion for a resolution","Paragraph 8"]],"meps":[96862],"meta":{"created":"2019-07-03T05:22:00"},"new":["deleted"],"old":["8. Calls on the ECB to develop a plan on","how to avoid new asset price bubbles","while bearing in mind that restricting the","general offer of credit to enterprises and","consumers has high costs for employment","and economic development;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"42","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-43","location":[[" Motion for a resolution","Paragraph 8"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:00"},"new":["8. Underlines that the risk of a growing","asset price bubble cannot yet be excluded;","calls on the ECB to develop a plan on how","to avoid new asset price bubbles while","bearing in mind that restricting the general","offer of credit to enterprises and consumers","has high costs for employment and","economic development;"],"old":["8. Calls on the ECB to develop a plan on","how to avoid new asset price bubbles while","bearing in mind that restricting the general","offer of credit to enterprises and consumers","has high costs for employment and","economic development;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"43","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-44","location":[[" Motion for a resolution","Paragraph 8"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:00"},"new":["8. Calls on the ECB to develop a plan on","how to avoid new asset price bubbles \u2013","while bearing in mind that restricting the","general offer of credit to enterprises and","consumers has high costs for employment","and economic development \u2013 e.g. by","adopting a policy of differentiated","exchange rates depending on the type of","transactions to be financed;"],"old":["8. Calls on the ECB to develop a plan on","how to avoid new asset price bubbles while","bearing in mind that restricting the general","offer of credit to enterprises and consumers","has high costs for employment and","","","economic development;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"44","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-45","location":[["Motion for a resolution","Paragraph 9"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:00"},"new":["9. Reiterates its call for better coordination","between the WTO, the IMF, the Financial","Stability Board and the World Bank Group","in order to combat speculation and meet","the challenges posed by the economic","crisis;"],"old":["9. Reiterates its call for better coordination","between the WTO, the IMF and the World","Bank Group in order to combat speculation","and meet the challenges posed by the","economic crisis;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"45","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-46","location":[["Motion for a resolution","Paragraph 10"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:00"},"new":["10. Recalls that exchange rate","fluctuations constitute an impediment to","global economic recovery and that","coordination of monetary policy is","essential to avoid the emergence of","financial imbalances that may give rise to","macroeconomic instability; calls for a","world monetary conference to be organised","under the auspices of the IMF in order to","hold global consultations on monetary","questions;"],"old":["10. Calls for a world monetary conference","to be organised under the auspices of the","IMF in order to hold global consultations","on monetary questions;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"46","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-47","location":[[" Motion for a resolution","Paragraph 10"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:00"},"new":["10. Calls for a world monetary conference","to be organised under the auspices of the","IMF in order to hold global consultations","on monetary questions and to explore the","arguments for creating a supranational","reserve currency to neutralise the","counter-productive effects of exchange","rate fluctuations;"],"old":["10. Calls for a world monetary conference","to be organised under the auspices of the","IMF in order to hold global consultations","on monetary questions;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"47","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-48","location":[[" Motion for a resolution","Paragraph 11"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:00"},"new":["11. Shares the Commission\u2019s concern","about the significant imbalances","concerning unit labour costs, growing","unequal distribution of income and wealth,","current accounts, and interest rate spreads","in the EU and in the euro area and is","concerned about the absence of effective","mechanisms to prevent the growth of","those imbalances;"],"old":["11. Shares the Commission\u2019s concern","about the significant imbalances","concerning unit labour costs, growing","unequal distribution of income and wealth,","current accounts, and interest rate spreads","in the EU and in the euro area;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"48","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-49","location":[["Motion for a resolution","Paragraph 11"]],"meps":[1928],"meta":{"created":"2019-07-03T05:22:00"},"new":["11. Shares the Commission\u2019s concern","about the significant imbalances","concerning the development of unit labour","costs, current accounts, and interest rate","spreads in the EU and in the euro area;"],"old":["11. Shares the Commission\u2019s concern","about the significant imbalances","concerning unit labour costs, growing","unequal distribution of income and","wealth, current accounts, and interest rate","spreads in the EU and in the euro area;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"49","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-50","location":[["Motion for a resolution","Paragraph 11"]],"meps":[97203],"meta":{"created":"2019-07-03T05:22:00"},"new":["11. Shares the Commission\u2019s concern","about the significant imbalances","concerning unit labour costs, growing","unequal distribution of income and wealth,","and interest rate spreads in the EU and in","the euro area;"],"old":["11. Shares the Commission\u2019s concern","about the significant imbalances","concerning unit labour costs, growing","unequal distribution of income and wealth,","current accounts, and interest rate spreads","in the EU and in the euro area;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"50","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-51","location":[["Motion for a resolution","Paragraph 11"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:01"},"new":["11. Shares the Commission\u2019s concern","about the significant imbalances","concerning unit labour costs, productivity","rates, growing unequal distribution of","income and wealth, current accounts, and","interest rate spreads in the EU and in the","euro area;"],"old":["11. Shares the Commission\u2019s concern","about the significant imbalances","concerning unit labour costs, growing","","unequal distribution of income and wealth,","current accounts, and interest rate spreads","in the EU and in the euro area;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"51","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-52","location":[[" Motion for a resolution","Paragraph 11 a (new)"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:01"},"new":["11a. As proposed in the Staff Working","Paper accompanying the Commission","Communication of 7 May 2008 on","EMU@10: successes and challenges after","10 years of Economic and Monetary","Union (COM(2008)0238), calls on the","Commission to develop diagnostic tools","and indicators in order more effectively to","monitor and assess relevant economic","developments in the Member States,","which include multilateral surveillance of","unit labour costs, real exchange rates,","financial markets and policies that affect","competitiveness;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"52","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-53","location":[[" Motion for a resolution","Paragraph 12"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:01"},"new":["deleted"],"old":["12. Notes that internal and external","imbalances have shrunk during the crisis","but is concerned about the absence of","","","effective mechanisms to prevent a","renewed growth of those imbalances;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"53","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Edward Scicluna","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-54","location":[["Motion for a resolution","Paragraph 12"]],"meps":[96671],"meta":{"created":"2019-07-03T05:22:01"},"new":["deleted"],"old":["12. Notes that internal and external","imbalances have shrunk during the crisis","but is concerned about the absence of","effective mechanisms to prevent a","renewed growth of those imbalances;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"54","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-55","location":[["Motion for a resolution","Paragraph 13"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:01"},"new":["deleted"],"old":["13. Points out that internal imbalances","pose a risk to the euro area and that","countries with large current account","surpluses or deficits were hit hardest by","the crisis;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"55","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Edward Scicluna","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-56","location":[["Motion for a resolution","Paragraph 13"]],"meps":[96671],"meta":{"created":"2019-07-03T05:22:01"},"new":["13. Points out that internal imbalances pose","a risk to the euro area and that countries","with large deficits were the most restricted","in their fiscal policies in dealing with the","crisis;"],"old":["13. Points out that internal imbalances pose","a risk to the euro area and that countries","with large current account surpluses or","deficits were hit hardest by the crisis;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"56","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-57","location":[[" Motion for a resolution","Paragraph 14"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:01"},"new":["deleted"],"old":["14. Stresses that economic policy of some","deficit as well as surplus countries has","contributed to the increase of these","imbalances;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"57","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-58","location":[[" Motion for a resolution","Paragraph 14"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:01"},"new":["deleted"],"old":["14. Stresses that economic policy of some","deficit as well as surplus countries has","contributed to the increase of these","imbalances;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"58","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-59","location":[["Motion for a resolution","Paragraph 14"]],"meps":[1928],"meta":{"created":"2019-07-03T05:22:01"},"new":["14. Stresses that the financial and","economic policy of some deficit as well as","surplus countries has contributed to the","increase of these imbalances;"],"old":["14. Stresses that economic policy of some","deficit as well as surplus countries has","contributed to the increase of these","imbalances;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"59","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-60","location":[["Motion for a resolution","Paragraph 15"]],"meps":[1928],"meta":{"created":"2019-07-03T05:22:01"},"new":["deleted"],"old":["15. Calls upon countries with current","account surpluses to stimulate","employment and internal demand inter","alia by ending wage moderation,","introducing minimum wages and making","additional sustainable investments while","taking into account the rules of the SGP;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"60","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-61","location":[["Motion for a resolution","Paragraph 15"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:01"},"new":["deleted"],"old":["15. Calls upon countries with current","account surpluses to stimulate","employment and internal demand inter","alia by ending wage moderation,","","introducing minimum wages and making","additional sustainable investments while","taking into account the rules of the SGP;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"61","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Derk Jan Eppink","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-62","location":[[" Motion for a resolution","Paragraph 15"]],"meps":[97133],"meta":{"created":"2019-07-03T05:22:01"},"new":["deleted"],"old":["15. Calls upon countries with current","account surpluses to stimulate","employment and internal demand inter","alia by ending wage moderation,","introducing minimum wages and making","additional sustainable investments while","taking into account the rules of the SGP;"],"orig_lang":"nl","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"62","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-63","location":[[" Motion for a resolution","Paragraph 15"]],"meta":{"created":"2019-07-03T05:22:02"},"new":["15. Calls upon all Member States to step","up structural reforms, invest in education","and innovation, intensify efforts to","complete the internal market, adapt","labour market policies to the needs of the","21st century, vigorously combat youth","unemployment and introduce the long","overdue reforms of the pensions systems,","while taking into account the rules of the","SGP;"],"old":["15. Calls upon countries with current","account surpluses to stimulate","employment and internal demand inter","alia by ending wage moderation,","introducing minimum wages and making","additional sustainable investments while","taking into account the rules of the SGP;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"63","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-64","location":[["Motion for a resolution","Paragraph 15"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:02"},"new":["15. Calls upon countries with current","account surpluses to stimulate employment","by increasing wage moderation and to","stimulate internal demand inter alia by","introducing minimum wages and making","additional sustainable investments while","taking into account the rules of the SGP;"],"old":["15. Calls upon countries with current","account surpluses to stimulate employment","and internal demand inter alia by ending","wage moderation, introducing minimum","wages and making additional sustainable","investments while taking into account the","rules of the SGP;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"64","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Edward Scicluna","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-65","location":[["Motion for a resolution","Paragraph 15"]],"meps":[96671],"meta":{"created":"2019-07-03T05:22:02"},"new":["15. Calls upon countries to stimulate","employment and internal demand inter alia","by, where not already in force, introducing","minimum wages and making additional","sustainable investments while taking into","account the rules of the SGP;"],"old":["15. Calls upon countries with current","account surpluses to stimulate","employment and internal demand inter alia","by ending wage moderation, introducing","minimum wages and making additional","sustainable investments while taking into","account the rules of the SGP;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"65","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophie Briard Auconie","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-66","location":[["Motion for a resolution","Paragraph 15"]],"meps":[96862],"meta":{"created":"2019-07-03T05:22:02"},"new":["15. Calls upon countries with current","account surpluses to stimulate employment","and internal demand inter alia by","introducing minimum wages and making","additional sustainable investments while","taking into account the rules of the SGP;"],"old":["15. Calls upon countries with current","account surpluses to stimulate employment","and internal demand inter alia by ending","wage moderation, introducing minimum","wages and making additional sustainable","investments while taking into account the","rules of the SGP;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"66","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-67","location":[[" Motion for a resolution","Paragraph 16"]],"meps":[1928],"meta":{"created":"2019-07-03T05:22:02"},"new":["deleted"],"old":["16. Calls upon countries with current","account deficits to curb excessive","consumption and increase sustainable","investment;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"67","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-68","location":[[" Motion for a resolution","Paragraph 16"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:02"},"new":["deleted"],"old":["16. Calls upon countries with current","account deficits to curb excessive","consumption and increase sustainable","investment;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"68","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-69","location":[["Motion for a resolution","Paragraph 16"]],"meta":{"created":"2019-07-03T05:22:02"},"new":["deleted"],"old":["16. Calls upon countries with current","account deficits to curb excessive","consumption and increase sustainable","investment;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"69","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophie Briard Auconie","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-70","location":[["Motion for a resolution","Paragraph 16"]],"meps":[96862],"meta":{"created":"2019-07-03T05:22:02"},"new":["16. Calls upon countries with current","account deficits to curb the excessive","growth of these deficits and increase","sustainable investment;"],"old":["16. Calls upon countries with current","account deficits to curb excessive","consumption and increase sustainable","investment;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"70","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-71","location":[["Motion for a resolution","Paragraph 17"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:02"},"new":["deleted"],"old":["17. Considers that the European budget is","not sufficiently large to limit the","imbalances between Member States","effectively and suggests reexamining its","size;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"71","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Derk Jan Eppink","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-72","location":[[" Motion for a resolution","Paragraph 17"]],"meps":[97133],"meta":{"created":"2019-07-03T05:22:02"},"new":["deleted"],"old":["17. Considers that the European budget is","not sufficiently large to limit the","imbalances between Member States","effectively and suggests reexamining its","size;"],"orig_lang":"nl","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"72","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-73","location":[[" Motion for a resolution","Paragraph 17"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:02"},"new":["17. Considers that the European budget is","not sufficiently large to limit the","imbalances between Member States","effectively and to have a sufficient anti-","cyclical effect; hence, considers that the","size of the common budget needs","reexamination;"],"old":["17. Considers that the European budget is","not sufficiently large to limit the","imbalances between Member States","effectively and suggests reexamining its","size;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"73","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-74","location":[[" Motion for a resolution","Paragraph 17"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:02"},"new":["17. Considers that the European budget is","not sufficiently large to limit the","imbalances between Member States","effectively and suggests reexamining its","size in the context of the European","Union\u2019s financial perspectives;"],"old":["17. Considers that the European budget is","not sufficiently large to limit the","imbalances between Member States","effectively and suggests reexamining its","size;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"74","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophie Briard Auconie","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-75","location":[["Motion for a resolution","Paragraph 17"]],"meps":[96862],"meta":{"created":"2019-07-03T05:22:02"},"new":["17. Considers that the European budget is","not sufficiently large to limit the","imbalances between Member States","effectively and suggests reviewing its size","upwards;"],"old":["17. Considers that the European budget is","not sufficiently large to limit the","imbalances between Member States","effectively and suggests reexamining its","size;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"75","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-76","location":[["Motion for a resolution","Paragraph 18"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:02"},"new":["18. Welcomes the use of EIB funds as well","as the common but different contributions","of Member States to anti-cyclical public","spending during the crisis, but notes that","the EIB should not become a substitute","for the EU budget, and that care should","be taken in order to avoid situations","where the EIB could be in competition","with private market actors;"],"old":["18. Welcomes the use of EIB funds as well","as the common but different contributions","of Member States to anti-cyclical public","spending during the crisis, which have","been used to partly compensate the limited","size of the European budget;","",""],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"76","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-77","location":[[" Motion for a resolution","Paragraph 18"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:02"},"new":["18. Welcomes the use of EIB funds as well","as the common but different contributions","of Member States to anti-cyclical public","spending during the crisis, which have","been used to partly compensate the limited","size of the European budget; warns,","however, against excessive recourse to the","EIB, which would result in the budgetary","procedure being circumvented and the","European Parliament prevented from","giving its opinion on the trajectory of","committed expenditure;"],"old":["18. Welcomes the use of EIB funds as well","as the common but different contributions","of Member States to anti-cyclical public","spending during the crisis, which have","been used to partly compensate the limited","size of the European budget;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"77","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-78","location":[[" Motion for a resolution","Paragraph 18"]],"meps":[1928],"meta":{"created":"2019-07-03T05:22:03"},"new":["18. Welcomes the common but different","contributions of Member States to anti-","cyclical public spending during the crisis,","which have been used to partly compensate","the limited size of the European budget;"],"old":["18. Welcomes the use of EIB funds as","well as the common but different","contributions of Member States to anti-","cyclical public spending during the crisis,","which have been used to partly compensate","the limited size of the European budget;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"78","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-79","location":[["Motion for a resolution","Paragraph 19"]],"meta":{"created":"2019-07-03T05:22:03"},"new":["19. Agrees with the Commission that the","supervision and regulation of financial","markets, fiscal discipline as well as the","limiting of internal and external imbalances","is essential for the successful development","of the EMU;"],"old":["19. Agrees with the Commission that the","supervision and regulation of financial","markets as well as the limiting of internal","and external imbalances is essential for the","successful development of the EMU;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"79","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-80","location":[["Motion for a resolution","Paragraph 19"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:03"},"new":["19. Agrees with the Commission that the","supervision and regulation of financial","markets as well as the limiting of internal","and external deficits is essential for the","successful development of the EMU;"],"old":["19. Agrees with the Commission that the","supervision and regulation of financial","markets as well as the limiting of internal","and external imbalances is essential for the","successful development of the EMU;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"80","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-81","location":[["Motion for a resolution","Paragraph 20"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:03"},"new":["deleted"],"old":["20. Suggests using the excessive deficit","procedure of the SGP to ensure that","","Member States avoid excessive deficits","and current account surpluses;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"81","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-82","location":[[" Motion for a resolution","Paragraph 20"]],"meta":{"created":"2019-07-03T05:22:03"},"new":["20. Stresses the need for the","comprehensive application of the rules of","the SGP, the excessive deficit procedure of","the SGP to ensure that Member States will","rigorously tackle their excessive deficits","and rising public debt, and step up efforts","to make their pensions systems","sustainable, as foreseen by the SGP;"],"old":["20. Suggests using the excessive deficit","procedure of the SGP to ensure that","Member States avoid excessive deficits and","current account surpluses;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"82","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-83","location":[[" Motion for a resolution","Paragraph 20"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:03"},"new":["20. Suggests extending the procedure","developed for excessive deficits of the SGP","to Member States with excessive current","account surpluses;"],"old":["20. Suggests using the excessive deficit","procedure of the SGP to ensure that","Member States avoid excessive deficits","and current account surpluses;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"83","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-84","location":[["Motion for a resolution","Paragraph 20"]],"meps":[1928],"meta":{"created":"2019-07-03T05:22:03"},"new":["20. Supports the Commission in using the","excessive deficit procedure of the SGP to","ensure that Member States avoid excessive","deficits and current account surpluses;"],"old":["20. Suggests using the excessive deficit","procedure of the SGP to ensure that","Member States avoid excessive deficits and","current account surpluses;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"84","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-85","location":[["Motion for a resolution","Paragraph 20"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:03"},"new":["20. Suggests using the excessive deficit","procedure of the SGP to ensure that","Member States avoid excessive deficits;"],"old":["20. Suggests using the excessive deficit","procedure of the SGP to ensure that","Member States avoid excessive deficits","and current account surpluses;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"85","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Edward Scicluna","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-86","location":[["Motion for a resolution","Paragraph 20"]],"meps":[96671],"meta":{"created":"2019-07-03T05:22:03"},"new":["20. Suggests using the relevant","instruments included in the Treaty and","the excessive deficit procedure of the SGP","to ensure that Member States avoid","excessive deficits and current account","surpluses;"],"old":["20. Suggests using the excessive deficit","procedure of the SGP to ensure that","Member States avoid excessive deficits and","current account surpluses;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"86","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sophie Briard Auconie","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-87","location":[[" Motion for a resolution","Paragraph 20"]],"meps":[96862],"meta":{"created":"2019-07-03T05:22:03"},"new":["20. Suggests using the excessive deficit","procedure of the SGP to ensure that","Member States avoid excessive current","account deficits;"],"old":["20. Suggests using the excessive deficit","procedure of the SGP to ensure that","Member States avoid excessive deficits","and current account surpluses;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"87","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Iliana Ivanova","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-88","location":[[" Motion for a resolution","Paragraph 20 a (new)"]],"meps":[96834],"meta":{"created":"2019-07-03T05:22:03"},"new":["20a. Underlines that the current economic","and financial crisis and the strengthened","financial coordination between Member","States that have already adopted the euro","should not lead to encapsulation of the","euro area;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"88","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-89","location":[[" Motion for a resolution","Paragraph 21"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:03"},"new":["21. Reiterates its view that economic","coordination should take the form of an","integrated European economic and","employment strategy on the basis of the","forthcoming EU 2020 Strategy, the","Integrated Guidelines, the Sustainable","Development Strategy and the convergence","and stability programmes;"],"old":["21. Reiterates its view that economic","","coordination should take the form of an","integrated European economic and","employment strategy on the basis of the","Lisbon Strategy, the Integrated Guidelines,","the Sustainable Development Strategy and","the convergence and stability programmes;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"89","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-90","location":[["Motion for a resolution","Paragraph 21"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:03"},"new":["21. Reiterates its view that economic","coordination should take the form of an","integrated European economic and","employment strategy on the basis of a","future review of the Lisbon Strategy, the","Integrated Guidelines, the Sustainable","Development Strategy and the convergence","and stability programmes;"],"old":["21. Reiterates its view that economic","coordination should take the form of an","integrated European economic and","employment strategy on the basis of the","Lisbon Strategy, the Integrated Guidelines,","the Sustainable Development Strategy and","the convergence and stability programmes;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"90","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-91","location":[["Motion for a resolution","Paragraph 22"]],"meps":[1928],"meta":{"created":"2019-07-03T05:22:04"},"new":["22. Expresses its deep concern over the","unsustainable level of public debt and its","predicted rapid increase in 2010 and 2011;"],"old":["22. Expresses its deep concern over the","unsustainable level of public debt and its","predicted rapid increase in 2010 and 2011","which forms an even larger burden,","bearing in mind that future generations","will inherit the growing ecological and","private financial debt;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"91","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-92","location":[[" Motion for a resolution","Paragraph 22"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:04"},"new":["22. Expresses its deep concern over the","growth in unproductive debt in some","Member States and its predicted rapid","increase in 2010 and 2011 which forms an","even larger burden, bearing in mind that","future generations will inherit the growing","ecological and private financial debt;"],"old":["22. Expresses its deep concern over the","unsustainable level of public debt and its","predicted rapid increase in 2010 and 2011","which forms an even larger burden, bearing","in mind that future generations will inherit","the growing ecological and private","financial debt;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"92","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-93","location":[[" Motion for a resolution","Paragraph 22"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:04"},"new":["22. Expresses its deep concern over the","unsustainable level of public debt and its","predicted rapid increase in 2010 and 2011,","caused by the necessary expansionary","fiscal policy to counteract the crisis, which","is an even larger burden, bearing in mind","that future generations will also inherit the","growing ecological and private financial","debt;"],"old":["22. Expresses its deep concern over the","unsustainable level of public debt and its","predicted rapid increase in 2010 and 2011","which forms an even larger burden,","bearing in mind that future generations will","inherit the growing ecological and private","financial debt;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"93","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-94","location":[["Motion for a resolution","Paragraph 22"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:04"},"new":["22. Expresses its deep concern over the","unsustainable level of public debt and its","predicted rapid increase in 2010 and 2011","which forms an even larger burden, bearing","in mind that future generations will inherit","the growing ecological, social and both","public and private financial debt;"],"old":["22. Expresses its deep concern over the","unsustainable level of public debt and its","predicted rapid increase in 2010 and 2011","which forms an even larger burden, bearing","in mind that future generations will inherit","the growing ecological and private","financial debt;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"94","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-95","location":[["Motion for a resolution","Paragraph 22"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:04"},"new":["22. Expresses its deep concern over the","unsustainable level of public debt and its","predicted rapid increase in 2010 and 2011","which forms an even larger burden, bearing","in mind that future generations will inherit","the growing public ecological and private","financial debt;"],"old":["22. Expresses its deep concern over the","unsustainable level of public debt and its","predicted rapid increase in 2010 and 2011","which forms an even larger burden, bearing","in mind that future generations will inherit","the growing ecological and private","financial debt;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"95","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophie Briard Auconie","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-96","location":[["Motion for a resolution","Paragraph 22"]],"meps":[96862],"meta":{"created":"2019-07-03T05:22:04"},"new":["22. Expresses its deep concern over the","unsustainable level of public debt and its","predicted rapid increase in 2010 and 2011","which forms an even larger burden, bearing","in mind that future generations will inherit","the growing financial debt;"],"old":["22. Expresses its deep concern over the","","unsustainable level of public debt and its","predicted rapid increase in 2010 and 2011","which forms an even larger burden, bearing","in mind that future generations will inherit","the growing ecological and private","financial debt;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"96","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Carl Haglund, Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-97","location":[[" Motion for a resolution","Paragraph 22 a (new)"]],"meps":[96683,97203],"meta":{"created":"2019-07-03T05:22:04"},"new":["22a. Stresses the importance of using","effectively the new provisions provided for","in the Treaty on the Functioning of the","European Union in order to improve","economic coordination and governance in","the euro area; looks forward to the","adoption of concrete proposals by the","Commission and the President of the","Eurogroup in this respect;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"97","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Carl Haglund, Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-98","location":[[" Motion for a resolution","Paragraph 22 b (new)"]],"meps":[96683,97203],"meta":{"created":"2019-07-03T05:22:04"},"new":["22b. Welcomes the first annual report by","the European Statistical Governance","Advisory Board and agrees inter alia with","its conclusion that the legal underpinning","of professional independence of national","statistical authorities should be pursued in","those Member States where this has not","yet been done; looks forward to an","assessment by the Commission in this","respect;"],"old":[""],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"98","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-99","location":[["Motion for a resolution","Paragraph 23"]],"meps":[97203],"meta":{"created":"2019-07-03T05:22:04"},"new":["23. Is concerned about the reduced ability","of Member States to counter future","economic downturns and to contribute to","the urgently needed investment in the","modernisation of the industrial sector and","in sustainable development;"],"old":["23. Is concerned about the reduced ability","of Member States to counter future","economic downturns and to contribute to","the urgently needed investment in","sustainable development;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"99","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-100","location":[["Motion for a resolution","Paragraph 23"]],"meta":{"created":"2019-07-03T05:22:04"},"new":["23. Is concerned about the reduced ability","of Member States to counter future","economic downturns and to contribute to","the urgently needed investment in","knowledge and sustainable development;"],"old":["23. Is concerned about the reduced ability","of Member States to counter future","economic downturns and to contribute to","the urgently needed investment in","sustainable development;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"100","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-101","location":[[" Motion for a resolution","Paragraph 24"]],"meps":[1928],"meta":{"created":"2019-07-03T05:22:04"},"new":["deleted"],"old":["24. Considers it necessary to review the","rules of the SGP, which were not designed","for the purposes of the expected post-","crisis levels of accumulated debt in many","Member States;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"101","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Carl Haglund, Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-102","location":[[" Motion for a resolution","Paragraph 24"]],"meps":[96683,97203],"meta":{"created":"2019-07-03T05:22:04"},"new":["24. Agrees that the revised SGP provides","the correct tools by which to coordinate","\"exit strategies\" and give enough room","for manoeuvre during economic","downturns; is of the view, however, that","once out of the current recession there is","a need to strengthen the preventive arm of","the pact, by avoiding pro-cyclical policies","during periods of growth above the trend,","and by putting increased focus on","sustainability of public finances as part of","the procedure;"],"old":["24. Considers it necessary to review the","rules of the SGP, which were not designed","for the purposes of the expected post-","crisis levels of accumulated debt in many","Member States;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"102","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-103","location":[[" Motion for a resolution","Paragraph 24"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:05"},"new":["24. Considers it necessary to review the","rules of the SGP, since it was unexpected","that so many Member States would break","rules on the level of public debt; points","out that the facilities granted by the","revised SGP must be geared towards the","financing of high-quality public","investments that are needed to meet the","climate-energy package and, more","broadly, to reduce the ecological debt;"],"old":["24. Considers it necessary to review the","rules of the SGP, which were not designed","for the purposes of the expected post-","crisis levels of accumulated debt in many","Member States;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"103","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-104","location":[["Motion for a resolution","Paragraph 24"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:05"},"new":["24. Considers it necessary to comply with","the spirit of the review of the 2005 SGP","and thus enable the Member States to","retain their economic support measures","until the recovery has been consolidated;"],"old":["24. Considers it necessary to review the","rules of the SGP, which were not designed","for the purposes of the expected post-","crisis levels of accumulated debt in many","Member States;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"104","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Derk Jan Eppink","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-105","location":[["Motion for a resolution","Paragraph 24"]],"meps":[97133],"meta":{"created":"2019-07-03T05:22:05"},"new":["24. Considers it necessary to maintain the","rules of the SGP and to return rapidly to","the criteria of fiscal discipline;"],"old":["24. Considers it necessary to review the","rules of the SGP, which were not designed","for the purposes of the expected post-crisis","levels of accumulated debt in many","","","Member States;"],"orig_lang":"nl","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"105","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-106","location":[[" Motion for a resolution","Paragraph 24"]],"meta":{"created":"2019-07-03T05:22:05"},"new":["24. Considers the rules of the SGP to be a","useful instrument with which to tackle the","post-crisis levels of accumulated debt in","many Member States;"],"old":["24. Considers it necessary to review the","rules of the SGP, which were not designed","for the purposes of the expected post-crisis","levels of accumulated debt in many","Member States;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"106","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-107","location":[[" Motion for a resolution","Paragraph 24 a (new)"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:05"},"new":["24a. Stresses that when evaluating the","stability and convergence programmes of","Member States, the Commission should","put considerable weight on the","conclusions of its Communication on","Long-term sustainability of public","finances for a recovering economy","(COM(2009)0545);"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"107","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-108","location":[["Motion for a resolution","Paragraph 25"]],"meta":{"created":"2019-07-03T05:22:05"},"new":["25. Supports the Commission\u2019s use of the","excessive deficit procedure in order to","reduce public deficit;"],"old":["25. Supports the Commission\u2019s use of the","excessive deficit procedure in order to","reduce public deficit but insists that","Member States\u2019 conjunctural situation be","taken into account;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"108","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-109","location":[["Motion for a resolution","Paragraph 25"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:05"},"new":["25. Supports the Commission\u2019s use of the","excessive deficit procedure in order to","reduce public deficit and emphasises the","importance of properly timed ambitious,","concrete and quantifiable programmes for","balancing the public finances in Member","States starting in the years 2010 and 2011;"],"old":["25. Supports the Commission\u2019s use of the","excessive deficit procedure in order to","reduce public deficit but insists that","Member States\u2019 conjunctural situation be","taken into account;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"109","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-110","location":[["Motion for a resolution","Paragraph 25"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:05"},"new":["25. Supports the Commission\u2019s use of the","excessive deficit procedure in order to","reduce public deficit but insists that the","quality of the Member States\u2019 debt and","their conjunctural situation be taken into","account;"],"old":["25. Supports the Commission\u2019s use of the","excessive deficit procedure in order to","reduce public deficit but insists that","","Member States\u2019 conjunctural situation be","taken into account;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"110","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Hans-Peter Martin","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-111","location":[[" Motion for a resolution","Paragraph 25 a (new)"]],"meps":[4238],"meta":{"created":"2019-07-03T05:22:05"},"new":["25a. Is extremely concerned at","developments in the deficit situation in","Greece; calls for lessons to be learnt from","this situation in future enlargements of","the euro area and accordingly for more","stringent tests to be required;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"111","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-112","location":[[" Motion for a resolution","Paragraph 26"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:05"},"new":["26. Considers that Member States with","difficulties in sustaining their public","finances should, in the first instance, be","responsible for resolving those difficulties","and calls on the Member States to","accelerate the pace of their reforms","through determined policy actions to fill","the sustainability gaps caused by high","rates of indebtedness and costs related to","an ageing population;"],"old":["26. Considers that Member States with","difficulties in sustaining their public","finances should, in the first instance, be","responsible for resolving those difficulties;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"112","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-113","location":[["Motion for a resolution","Paragraph 26"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:05"},"new":["26. Considers that Member States with","difficulties in sustaining their public","finances should, in the first instance, be","responsible for resolving those difficulties,","particularly by means of a more","appropriate fiscal policy;"],"old":["26. Considers that Member States with","difficulties in sustaining their public","finances should, in the first instance, be","responsible for resolving those difficulties;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"113","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-114","location":[["Motion for a resolution","Paragraph 26 a (new)"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:05"},"new":["26a. Deems it essential to develop further","solidarity mechanism inside the EU to","cope with asymmetric shocks; calls on the","Commission to examine the feasibility of","creating a solidarity fund to which","countries would contribute in good times","to better deal with asymmetric shocks;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"114","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-115","location":[["Motion for a resolution","Paragraph 27"]],"meps":[1928],"meta":{"created":"2019-07-03T05:22:05"},"new":["deleted"],"old":["27. Stresses the fact that some","shortcomings of the construction of the","EMU and to some extent the economic","policy of partner states make it difficult","for Member States to bring their financial","house in order;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"115","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-116","location":[[" Motion for a resolution","Paragraph 27"]],"meta":{"created":"2019-07-03T05:22:05"},"new":["deleted"],"old":["27. Stresses the fact that some","shortcomings of the construction of the","EMU and to some extent the economic","policy of partner states make it difficult","for Member States to bring their financial","house in order;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"116","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-117","location":[[" Motion for a resolution","Paragraph 27"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:06"},"new":["27. Stresses the fact that some","shortcomings of the construction of the","EMU and to some extent the economic","policy of partner states make it difficult for","Member States to bring their financial","house in order; in particular, regrets that","the coordination on fiscal policy is limited","to the rules laid down in the SGP, which","refers only to public deficit and public","debt; points out that the current","mechanism of policy coordination within","the euro area needs to be enlarged to","cope, in particular, with current and","future economic imbalances and","divergences within the euro area; regrets,","in this context, that there are no binding","commitments among governments to","enforce coordination in the euro area;"],"old":["27. Stresses the fact that some","shortcomings of the construction of the","EMU and to some extent the economic","policy of partner states make it difficult for","Member States to bring their financial","house in order;","",""],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"117","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-118","location":[["Motion for a resolution","Paragraph 27"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:06"},"new":["27. Stresses the fact that some","shortcomings of the construction of the","EMU and to some extent the economic","policy of partner states make it difficult for","Member States to bring their financial","house in order and is concerned that in the","euro area one group of Member States is","more disciplined and a second is","becoming increasingly indebted, and that","surveillance at EU level has not translated","into determined policy action in the","second group of Member States;"],"old":["27. Stresses the fact that some","shortcomings of the construction of the","EMU and to some extent the economic","policy of partner states make it difficult for","Member States to bring their financial","house in order;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"118","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-119","location":[["Motion for a resolution","Paragraph 27"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:06"},"new":["27. Stresses the fact that some","shortcomings of the construction of the","EMU and to some extent the economic","policy of some members of the euro zone","and of third country partners make it","difficult for Member States to bring their","financial house in order;"],"old":["27. Stresses the fact that some","shortcomings of the construction of the","EMU and to some extent the economic","policy of partner states make it difficult","for Member States to bring their financial","house in order;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"119","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-120","location":[[" Motion for a resolution","Paragraph 28"]],"meps":[1928],"meta":{"created":"2019-07-03T05:22:06"},"new":["deleted"],"old":["28. Calls on the Commission to propose a","set of measures to help Member States to","bring public accounts back to balance and","to finance public investment through:","(a) eurobonds in order to lower the cost of","interest for servicing public debt","considering that interest rate spreads","between Member States have not fallen","below pre-crisis levels;","(b) moving from tax competition between","Member States to tax cooperation","including a timetable for the introduction","of a common consolidated tax base for","corporate profits, a mechanism to ensure","a minimum coordination of corporate tax","rates and a coordinated introduction of","environmental taxes;","(c) introducing country-by-country","reporting on corporate income and taxes","paid thereon;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"120","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-121","location":[["Motion for a resolution","Paragraph 28 \u2013 point a"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:06"},"new":["deleted"],"old":["(a) eurobonds in order to lower the cost of","interest for servicing public debt","considering that interest rate spreads","between Member States have not fallen","below pre-crisis levels;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"121","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-122","location":[["Motion for a resolution","Paragraph 28 \u2013 point a"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:06"},"new":["(a) eurobonds or similar measures in order","to lower the cost of interest for servicing","public debt considering that interest rate","spreads between Member States have not","fallen below pre-crisis levels;"],"old":["(a) eurobonds in order to lower the cost of","interest for servicing public debt","considering that interest rate spreads","between Member States have not fallen","below pre-crisis levels;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"122","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Enik\u0131 Gy\u0131ri","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-123","location":[["Motion for a resolution","Paragraph 28 \u2013 point b"]],"meps":[96830],"meta":{"created":"2019-07-03T05:22:06"},"new":["deleted"],"old":["(b) moving from tax competition between","Member States to tax cooperation","including a timetable for the introduction","of a common consolidated tax base for","corporate profits, a mechanism to ensure","","a minimum coordination of corporate tax","rates and a coordinated introduction of","environmental taxes;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"123","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-124","location":[[" Motion for a resolution","Paragraph 28 \u2013 point b"]],"meps":[97203],"meta":{"created":"2019-07-03T05:22:06"},"new":["(b) promoting tax cooperation, compatible","with tax competition, which increases the","efficiency of public expenditure and","government discipline;"],"old":["(b) moving from tax competition between","Member States to tax cooperation","including a timetable for the introduction","of a common consolidated tax base for","corporate profits, a mechanism to ensure","a minimum coordination of corporate tax","rates and a coordinated introduction of","environmental taxes;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"124","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-125","location":[[" Motion for a resolution","Paragraph 28 \u2013 point b"]],"meta":{"created":"2019-07-03T05:22:06"},"new":["(b) encouraging tax cooperation between","Member States, including a timetable for","the introduction of a common consolidated","corporate tax base, a mechanism to ensure","a minimum coordination of corporate tax","rates and a coordinated introduction of","environmental taxes;"],"old":["(b) moving from tax competition between","Member States to tax cooperation","including a timetable for the introduction","of a common consolidated tax base for","corporate profits, a mechanism to ensure a","minimum coordination of corporate tax","rates and a coordinated introduction of","environmental taxes;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"125","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-126","location":[["Motion for a resolution","Paragraph 28 a (new)"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:06"},"new":["28a. Calls on the Commission to study the","possible consequences of either a one-","sided EU-wide or an international 0,01-","0,1 % tax on financial transactions in","order to provide assistance to Member","States during their current financial","situation;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"126","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-127","location":[["Motion for a resolution","Paragraph 29"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:06"},"new":["29. Reiterates its view that Member States\u2019","governments should, when deciding their","national budgets, take into account the","Integrated Guidelines and the country-","specific recommendations as well as the","overall budgetary situation in the euro area;","the different national fiscal calendars and","the main assumptions used in the","underlying forecasts should be harmonised","in order to avoid disparities caused by the","use of different macro-economic forecasts","(concerning, for example, global growth,","EU growth, the oil barrel price and interest","rates) and other parameters;"],"old":["29. Reiterates its view that Member States\u2019","governments should, when deciding their","national budgets, take into account the","Integrated Guidelines and the country-","specific recommendations as well as the","overall budgetary situation in the euro area;","the different national fiscal calendars and","the main assumptions used in the","underlying forecasts should be harmonised","in order to avoid disparities caused by the","use of different macro-economic forecasts","(concerning, for example, global growth,","EU growth, the oil barrel price and interest","rates) and other parameters; calls on the","Commission, Eurostat and the Member","States to work towards the definition of","tools to enhance the comparability of","national budgets as regards spending in","","","different categories;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"127","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Liem Hoang Ngoc","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-128","location":[[" Motion for a resolution","Paragraph 29"]],"meps":[96950],"meta":{"created":"2019-07-03T05:22:06"},"new":["29. Considers that the different national","fiscal calendars and the main assumptions","used in the underlying forecasts should be","harmonised in order to avoid disparities","caused by the use of different macro-","economic forecasts (concerning, for","example, global growth, EU growth, the oil","barrel price and interest rates) and other","parameters; calls on the Commission,","Eurostat and the Member States to work","towards the definition of tools to enhance","the comparability of national budgets as","regards spending in different categories;"],"old":["29. Reiterates its view that Member States\u2019","governments should, when deciding their","national budgets, take into account the","Integrated Guidelines and the country-","specific recommendations as well as the","overall budgetary situation in the euro","area; the different national fiscal calendars","and the main assumptions used in the","underlying forecasts should be harmonised","in order to avoid disparities caused by the","use of different macro-economic forecasts","(concerning, for example, global growth,","EU growth, the oil barrel price and interest","rates) and other parameters; calls on the","Commission, Eurostat and the Member","States to work towards the definition of","tools to enhance the comparability of","national budgets as regards spending in","different categories;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"128","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-129","location":[[" Motion for a resolution","Paragraph 29 a (new)"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:06"},"new":["29a. Calls on the Commission, Eurostat","and the Member States to work towards","the definition of tools to enhance the","comparability of national budgets as","regards spending in different categories;"],"old":[""],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"129","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-130","location":[["Motion for a resolution","Paragraph 30"]],"meps":[97203],"meta":{"created":"2019-07-03T05:22:06"},"new":["deleted"],"old":["30. Calls on the Commission to make a","proposal as to how the financial sector","should contribute to the cost of the crisis;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"130","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Werner Langen","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-131","location":[["Motion for a resolution","Paragraph 30"]],"meps":[1928],"meta":{"created":"2019-07-03T05:22:07"},"new":["30. Calls on the Commission to make a","concrete proposal as soon as possible as to","how the financial sector should contribute","to the cost of the crisis;"],"old":["30. Calls on the Commission to make a","proposal as to how the financial sector","should contribute to the cost of the crisis;"],"orig_lang":"de","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"131","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Iliana Ivanova","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-132","location":[["Motion for a resolution","Paragraph 30 a (new)"]],"meps":[96834],"meta":{"created":"2019-07-03T05:22:07"},"new":["30a. Calls on the ECB, the Commission","and euro area Member States to","encourage the process of economic and","monetary integration within the European","Union and to support the enlargement of","the euro area;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"132","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Iliana Ivanova","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-133","location":[[" Motion for a resolution","Paragraph 30 b (new)"]],"meps":[96834],"meta":{"created":"2019-07-03T05:22:07"},"new":["30b. Calls on the ECB to support the","efforts of the Member States outside the","euro are to adopt the euro, especially in","cases where Member States have proven","good and stable fiscal discipline;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"133","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-134","location":[[" Motion for a resolution","Title before paragraph 31"]],"meps":[97203],"meta":{"created":"2019-07-03T05:22:07"},"new":["Tackling resource dependency and creating","more new jobs in modern,","environmentally sustainable industries"],"old":["Tackling resource dependency and creating","new \u2018green\u2019 jobs"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"134","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-135","location":[["Motion for a resolution","Paragraph 31"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:07"},"new":["31. Recalls that the crisis is not an excuse","to delay tackling climate change and","environmental degradation; underlines","that delaying action could be costly in","both economic and environmental terms;","highlights that the increase of energy and","resource efficiency as well as a conversion","towards sustainable renewable resources is","the best way to limit dependency on scarce","resources while creating new \u2018green\u2019 jobs;"],"old":["31. Considers that the increase of energy","and resource efficiency as well as a","conversion towards sustainable renewable","resources is the best way to limit","dependency on scarce resources while","creating new \u2018green\u2019 jobs;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"135","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-136","location":[["Motion for a resolution","Paragraph 31"]],"meps":[97203],"meta":{"created":"2019-07-03T05:22:07"},"new":["31. Considers that the increase of energy","and resource efficiency as well as a","conversion towards sustainable renewable","resources is the best way to limit","dependency on scarce resources while","creating new jobs in modern and","environmentally sustainable industries;"],"old":["31. Considers that the increase of energy","and resource efficiency as well as a","conversion towards sustainable renewable","resources is the best way to limit","dependency on scarce resources while","creating new \u2018green\u2019 jobs;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"136","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sophia in \u2018t Veld","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-137","location":[["Motion for a resolution","Paragraph 32"]],"meta":{"created":"2019-07-03T05:22:07"},"new":["32. Calls on the Member States and the","Commission to increase radically the","efforts in this direction and asks the ECB","and the Commission to include this","question in its regular economic reporting;"],"old":["32. Calls on the Commission to increase","radically the efforts in this direction and","asks the ECB and the Commission to","include this question in its regular","economic reporting;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"137","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-138","location":[[" Motion for a resolution","Paragraph 32"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:07"},"new":["32. Calls on the Commission to increase","radically the efforts in this direction and","asks the Commission and the ECB to","include this question in their regular","economic reporting;"],"old":["32. Calls on the Commission to increase","radically the efforts in this direction and","asks the ECB and the Commission to","include this question in its regular","economic reporting;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"138","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Ramon Tremosa I Balcells","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-139","location":[[" Motion for a resolution","Paragraph 32 a (new)"]],"meps":[97203],"meta":{"created":"2019-07-03T05:22:07"},"new":["32a. Calls on the Eurogroup to take the","necessary measures to facilitate an","expeditious entry into the euro area for","those Member States that are seeking to","join and that fulfil the conditions for","entry;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"139","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-140","location":[["Motion for a resolution","Paragraph 34"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:07"},"new":["34. Takes the view that the EMU policy","agenda will be marked inter alia by the","challenges posed by emerging Asian","economies; regrets the lack of progress in","improving the external representation of","the euro area despite the growing global","role of the euro as a reserve currency;","stresses that the euro area must build an","international strategy commensurate with","the international status of its currency;"],"old":["34. Takes the view that the EMU policy","agenda will be marked inter alia by the","challenges posed by emerging Asian","economies; regrets the lack of progress in","improving the external representation of","the euro area despite the growing global","role of the euro; stresses that the euro area","must build an international strategy","commensurate with the international status","of its currency;"],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"140","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Sven Giegold","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-141","location":[["Motion for a resolution","Paragraph 34 a (new)"]],"meps":[96730],"meta":{"created":"2019-07-03T05:22:07"},"new":["34a. Recalls also that global imbalances","related to exchange rate fluctuations","between inter alia ,the US dollar and the","renminbi-yuan, and the euro must also be","addressed to avoid financial crises in the","future; invites the Eurogroup, the Council","and the ECB to step up the coordination","of their action in the sphere of exchange","rate policy accordingly;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"141","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Enik\u0131 Gy\u0131ri, Danuta Maria H\u00fcbner","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-142","location":[[" Motion for a resolution","Paragraph 35"]],"meps":[96830,96779],"meta":{"created":"2019-07-03T05:22:07"},"new":["deleted"],"old":["35. Emphasises the need for the euro area","ultimately to obtain a single seat in the","relevant international financial","institutions and a single voice on","exchange rate policies;"],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"142","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"changes":{},"committee":["ECON"],"content":[" Motion for a resolution"," Paragraph 35","","",""," 35. Emphasises the need for the euro area (Does not affect English version.)"," ultimately to obtain a single seat in the"," relevant international financial institutions"," and a single voice on exchange rate"," policies;"],"date":"2009-12-09T00:00:00","id":"PE430.909-143","meta":{"created":"2019-07-03T05:22:07"},"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"143","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Sari Essayah","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-144","location":[[" Motion for a resolution","Paragraph 35 a (new)"]],"meps":[96682],"meta":{"created":"2019-07-03T05:22:08"},"new":["35a. Emphasises the importance of G20","conclusions on global imbalances and","what each economic area has to do in","order to balance its economy; stresses the","importance of exchange rates in the","preparation of the next G-20 summits;","takes the view that those preparations","should be more transparent within the EU","and that Parliament should be kept","informed;"],"old":[""],"orig_lang":"en","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"144","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Pervenche Ber\u00e8s","changes":{},"committee":["ECON"],"date":"2009-12-09T00:00:00","id":"PE430.909-145","location":[["Motion for a resolution","Paragraph 36"]],"meps":[1985],"meta":{"created":"2019-07-03T05:22:08"},"new":["36. Instructs its President to forward this","resolution to the Council, the Commission,","the parliaments of the Member States, the","Eurogroup, the European Central Bank and","the European Investment Bank."],"old":["36. Instructs its President to forward this","resolution to the Council and the","Commission, the Eurogroup and the","European Central Bank."],"orig_lang":"fr","peid":"PE430.909v01-00","reference":"2009/2203(INI)","seq":"145","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-430.909+01+DOC+PDF+V0//EN&language=EN"}],"changes":{"2014-11-10T00:31:50":[{"data":[{"body":"EC","commission":[{"Commissioner":"REHN Olli","DG":{"title":"Economic and Financial Affairs","url":"http://ec.europa.eu/dgs/economy_finance/index_en.htm"}}],"date":"2009-10-07T00:00:00","docs":[{"celexid":"CELEX:52009DC0527:EN","text":["
The Commission\n presents its Annual Statement on the Euro Area 2009.
1) The\n European Area Economy in 2009: the report states\n that in the wake of the shockwaves of the worst crisis since the 30s, signs\n of economic stabilisation are emerging. Important policy interventions\n have succeeded in achieving a degree of stability in the financial system.\n Financial conditions have improved over the summer, with several financial\n indicators returning to pre-crisis levels. Growth in the euro area is set to\n fall by 4% in 2009, unchanged from the Spring 2009 forecast. The stronger\n than expected contraction in activity in the first quarter was compensated\n for by a faster than projected stabilisation in the second quarter,\n especially in Germany and France.
However, the\n strength and resilience of the recovery has yet to be fully tested. While\n banks are in the process of strengthening their solvency ratios, the\n stabilisation in financial markets has yet to yield concrete outcomes for\n credit distribution to the economy, which has decelerated considerably\n throughout the first half of 2009.
The euro\n has acted as a valuable shield in the crisis, by\n protecting the euro area from the exchange rate and interest rate turbulence\n that had proved so damaging for Member States in episodes of financial market\n stress in the past. The financial crisis has increased the attractiveness of\n the euro for non-euro area Member States, eliminating the risk of sudden and\n disruptive exchange rate movements, but has also shown that the euro does not\n solve challenges related to internal and external imbalances. This experience\n confirms the rationale for achieving a high level of sustainable convergence\n prior to euro adoption.
The crisis\n is amplifying some challenges in the euro area,\n weighing on the sustainability of public finances and potential growth. As a\n consequence of the steep fall in revenues, fiscal stimulus measures under the\n European Economic Recovery Plan (EERP) and the operation of automatic\n stabilisers, government balances have deteriorated sharply. The\n average euro area budget deficit is now expected to increase from 2% of GDP\n in 2008 to over 5% of GDP in 2009. Almost all euro area Member States will\n post budget deficit ratios above the 3%-of-GDP threshold, with some countries\n exceeding the benchmark by a large margin.
2) Imbalances\n accumulated in the past rendered some euro area Member States more vulnerable\n when crisis struck. At a global level, the speed\n and intensity of the contagion from the Lehman Brothers bankruptcy came as a\n surprise. While the global, interconnected nature of the banking and\n financial system largely accounts for the contagion, the difficulties\n experienced by some Member States have underscored a number of\n vulnerabilities within the euro area itself.
Accumulated\n intra-euro area imbalances exposed some economies, more than others, to\n shocks. From a balanced position in 1999, surpluses steadily accumulated and\n reached 7.7% of GDP in 2007, while aggregated deficits rose from 3.5% of GDP\n in 1999 to 9.7% in 2007.
In countries\n in deficit, the divergence trend reflected the build-up of domestic\n imbalances. They materialised through excessive domestic demand pressures, a\n surge in house prices and a bloated construction sector. This was especially\n patent in Ireland, Spain and Greece, which consistently recorded higher\n growth and inflation than the rest of the euro area during the decade.\n Conversely, countries in surplus capitalised on their traditional strengths,\n with a growth model centred on their already-competitive export sector. In\n these countries the engine of domestic demand never really kicked in to take\n over the export engine. The impact of the crisis revealed the vulnerability\n of this growth model to fluctuations in global demand, with implications for\n growth in the euro area as a whole.
Another source\n of imbalances lay in the rapid growth of the financial sector. Ireland has\n been a textbook case and following the crisis, ballooning impaired assets\n weakened the banking sector and put public authorities, acting as the lender\n of last resort, under pressure.
Such\n imbalances explain why the crisis has hit some Member States harder than\n others. Overall, Member States pursuing unbalanced growth models have\n suffered particularly severe economic contractions. The impact of the crisis\n demonstrates the need for action. Policymakers in Member States largely\n ignored these imbalances in good economic times. They should not be ignored\n any longer.
3) Unfinished\n business also hampered the euro area’s capacity to respond to the crisis: deeper financial integration in the euro area was not matched by\n a parallel strengthening of supervisory arrangements. The Commission has\n acted effectively to fill this gap. It provided a common framework for the\n implementation of national banking rescue plans, in line with state aid\n rules, benefiting also from ECB support. While the fiscal house was mostly in\n order when the crisis struck, some Member States had limited room to respond\n to the crisis. Public debt levels remained high in Greece, Italy and Belgium,\n while fiscal consolidation was slow and indecisive in France, Greece and\n Portugal. In other countries, public finances became dependant on fiscal\n revenues either from the financial sector or the real estate boom whose slump\n added to the deterioration of public finances and greatly diminished the\n fiscal room for manoeuvre available to counteract the effects of the crisis.\n Globally, euro area governments did their fair share in the concerted global\n effort to sustain demand within the EU-wide coordinating framework of the\n EERP. The overall fiscal support amounts to about 4.6% of euro area GDP\n (about 5% for the EU as a whole).
The aggregate\n impact of the euro area economic policy response could have been faster and\n perhaps stronger if co-ordination had started earlier and been more\n comprehensive.
4) The way\n forward: ensuring efficient internal adjustment and sustainable growth in a\n challenging environment. The crisis has clearly\n demonstrated the urgency for euro area Member States to make rapid progress\n on the EMU@10 reform agenda: broadening and deepening macroeconomic\n surveillance. In its EMU@10\n communication in May 2008, the Commission proposed a three-pillar agenda\n to improve the functioning of EMU in the face of a rapidly changing global\n environment, ageing populations and rising concerns about energy and climate\n change.
It also called for the deepening of fiscal policy coordination and\n increased surveillance.
Broader\n macroeconomic surveillance is urgently needed to spur a co-ordinated policy\n response to the competitiveness challenge. The broadening of surveillance\n should also incorporate financial market developments in earnest.
Surveillance\n should be deepened to ensure sustainable public finances. In the wake of the crisis,\n the combination of low growth and accelerating debt risks putting public\n finances in a precarious situation, just when the impact of ageing is\n starting to set in. If policies are unchanged, public debt in the euro area\n is projected to reach 100% of GDP in 2014. As part of a deeper fiscal\n co-ordination in the euro area, a firm commitment is needed for a fiscal\n strategy that can appropriately balance stabilisation and sustainability\n considerations in line with the Stability and Growth Pact.
Co-ordination across policies and Member States should be enhanced\n to permit judicious exit strategies. Differentiated\n policy responses will need to be incorporated in national exit strategies so\n as to achieve the best global output. In line with the Council\n recommendations to the euro area in the context of the Lisbon strategy,\n progress is needed on the implementation of reforms that enhance potential growth\n and facilitate adjustment to shocks.
The crisis underscored the need to reinforce the framework for\n euro area surveillance and governance. The Lisbon Treaty provides the\n necessary platform for the further improvement of economic governance of the\n euro area. Highlighting the need to develop ever-closer co-ordination of\n economic policies within the euro area, a new Protocol attached to the Lisbon\n Treaty gives formal recognition to the Eurogroup and its President. The Lisbon\n Treaty also strengthens the role of the Commission in the surveillance of the\n functioning of EMU.
Lastly, the\n Commission considers that united, the euro area can influence the global\n agenda. The emergence of the G20 as the forum of choice for the promotion\n of global economic and financial governance reform raises the stakes for the\n euro area. In this context, the euro area should be considered as a single\n economic entity, which will continue to grow in importance as new members\n progressively join. For the euro area to speak with a strong voice at the\n global level, the EU external representation, particularly within the IMF, needs\n to be strengthened. Now is the moment, while discussions on quota and\n representation reform are gaining momentum.
\nThe Committee\n on Economic and Monetary Affairs adopted the own-initiative report drawn up\n by Sven GIEGOLD (Greens/ALE, DE) on the Report on the 2009 Annual Statement\n on the Euro Area and Public Finances.
Monetary\n policy: Members are alarmed by the ongoing\n contraction of employment in the EU despite the exceptional efforts of\n monetary and fiscal policy. They stress that, in addition to the exceptional\n recovery measures, structural reforms must be stepped up rather than\n stalled, so as to make the European economy and labour market more\n robust. They welcome the ECB’s extension of liquidity to credit institutions;\n but are concerned that the extra liquidity has not been used by all banks to\n ease the ‘credit crunch’ faced particularly by small and medium-sized\n businesses (SMEs).
The committee\n is also concerned about the economic consequences for the euro area of a\n rapid fall in the value of the US dollar and the renminbi yuan, the\n latter artificially devalued by an unfair intervention on the part of the\n Chinese Government, and the possibility of a new asset bubble in Asia. It\n calls for enhanced international macroeconomic dialogues in order to\n adjust exchange rates so that a more balanced world economy may be achieved.
The report\n underlines the fact that the discipline of wage moderation also acts as a\n brake on the growth of household income and therefore warns against\n focusing exclusively on wage moderation as an instrument to achieve price\n stability. It recalls that increased global competition has already contributed\n to downward pressure on wages, while higher commodity prices and energy costs\n have reduced the purchasing power of EU consumers. Members stress that real\n salaries should rise in line with productivity gains, in order to\n guarantee long-term stability in the distribution of income.
Members feel\n that exchange-rate fluctuations constitute an impediment to global economic\n recovery and that coordination of monetary policy is essential to\n avoid the emergence of financial imbalances. They call for a world\n monetary conference to be organised under the auspices of the IMF, and\n they also want better coordination between the WTO, the IMF, the Financial\n Stability Board and the World Bank Group in order to combat speculation.
Improving\n coordination and cooperation on economic policy: the Committee shares the Commission’s concerns about accumulated\n imbalances in the euro area. It calls on the Commission to develop\n diagnostic tools and indicators, in order more effectively to assess\n economic developments in Member States, including multilateral surveillance\n of unit labour costs, real exchange rates, financial markets and policies\n affecting competitiveness. It also suggests that the Commission examine\n possible ways of improving effectively the economic governance of the euro\n area, including the setting-up of new mechanisms to prevent the renewed\n excessive growth of such imbalances in the future and the asymmetric shocks\n to which they contribute.
Members also\n make the following points:
Public\n finances: noting that Member States’ public\n deficits are set to increase rapidly to about 7% of GDP in 2010, the\n committee expresses its deep concern over the unsustainable level of\n public debt and its predicted rapid increase in 2010 and 2011. It takes\n the view that, once out of the current recession, there is a need, while\n complying with the reformed SGP, to strengthen the preventive arm of the\n pact in order to ensure that Member States refrain effectively from\n pro-cyclical policies during periods of growth. Members support the\n Commission’s use of the excessive deficit procedure in order to reduce public\n deficit and emphasise the importance of quantifiable programmes for balancing\n the public finances in Member States, starting in the years 2010 and 2011.\n They are extremely concerned at developments in the deficit situation in\n Greece, and call fpr lessons to be learnt from this situation, in future\n enlargements of the euro area, especially in relation to the quality of\n statistical data.
The report\n states that Member States with difficulties in sustaining their public\n finances should, in the first instance, be responsible for resolving those\n difficulties, particularly by means of a more appropriate fiscal policy,\n and it calls on Member States to accelerate the pace of their reforms through\n determined policy actions. Members also regret that there are no binding\n commitments among governments to enforce coordination in the euro area.
They call on\n the Commission to propose a set of measures to help Member States restore\n balance in their public accounts and finance public investment through:
The committee\n calls on the Commission:
Lastly, the\n committee stresses the importance of using effectively the new provisions in\n Article 136 of the TFEU to improve economic coordination and\n governance in the euro area, and it looks forward to concrete proposals\n in this respect.
Tackling resource\n dependency:stressing that delaying action\n on climate change because of the crisis could be costly in both economic and\n environmental terms, the committee calls for radically increased efforts in\n this direction. It calls on the Eurogroup to take the necessary measures to\n facilitate an entry into the euro area for those Member States which are\n seeking to join and which fulfil the conditions for entry.
External\n representation of the euro area: Members\n regret the lack of progress in improving external representation of the\n euro area despite the euro’s growing global role as a reserve currency.\n They stress that the euro area must build an international strategy\n commensurate with the international status of its currency, and recall that\n the EMU policy agenda will be marked by the challenges posed by emerging\n Asian economies. Global imbalances related to exchange-rate fluctuations\n between, inter alia, the US dollar and the renminbi yuan and the euro must\n also be addressed in order to avoid future financial crises, and the\n committee invites the Eurogroup, the Council and the ECB to step up coordination\n of their action in the sphere of exchange rate policy accordingly.\n Members stress the importance of exchange rates in the preparation of\n forthcoming G-20 summits. Such preparation should be more transparent within\n the EU and that Parliament should be kept informed.
\nThe European\n Parliament adopted a resolution on the 2009 Annual Statement on the Euro Area\n and Public Finances.
Parliament is\n alarmed by the ongoing contraction of employment in the EU despite the\n exceptional efforts of monetary and fiscal policy. It stresses that, in\n addition to the exceptional recovery measures, structural reforms must be\n stepped up rather than stalled, so as to make the European economy and labour\n market more robust. It welcomes the active and flexible monetary policy of\n the ECB since October 2008 in extending liquidity provisions to credit\n institutions, but is concerned that the extra liquidity has not been used by\n all banks to ease the ‘credit crunch’ faced particularly by small and\n medium-sized businesses (SMEs).
Parliament is\n also concerned about the economic consequences for the euro area of a rapid\n fall in the value of the US dollar and the renminbi yuan, the latter\n artificially devalued by an unfair intervention on the part of the Chinese\n Government, and the possibility of a new asset bubble in Asia. It calls for\n enhanced international macroeconomic dialogue in order to adjust exchange\n rates so that a more balanced world economy may be achieved.
The resolution\n underlines the fact that the discipline of wage moderation also acts as a\n brake on the growth of household income and therefore warns against focusing\n exclusively on wage moderation as an instrument to achieve price stability.\n It stresses that real salaries should rise in line with productivity gains,\n in order to guarantee long-term stability in the distribution of income.
Parliament\n feels that exchange-rate fluctuations constitute an impediment to global\n economic recovery and that coordination of monetary policy is essential to\n avoid the emergence of financial imbalances. It calls for a world monetary\n conference to be organised under the auspices of the IMF as a forum for\n global consultation on monetary questions.
Improving coordination\n and cooperation on economic policy: Parliament shares the Commission’s\n concerns about accumulated imbalances in the euro area. It calls on the\n Commission to develop diagnostic tools and indicators, in order more\n effectively to assess economic developments in Member States, including\n multilateral surveillance of unit labour costs, real exchange rates,\n financial markets and policies affecting competitiveness. It also suggests\n that the Commission examine possible ways of improving effectively the\n economic governance of the euro area, including the setting-up of new\n mechanisms to prevent the renewed excessive growth of such imbalances in the\n future and the asymmetric shocks to which they contribute.
Members also\n make the following points:
Public\n finances: noting that Member States’ public deficits are set to increase\n rapidly to about 7% of GDP in 2010, Parliament expresses its deep concern\n over the unsustainable level of public debt and its predicted rapid increase\n in 2010 and 2011. It takes the view that, once out of the current recession,\n there is a need, while complying with the reformed SGP of 2005, to strengthen\n the preventive arm of the pact in order to ensure that Member States refrain\n effectively from pro-cyclical policies during periods of growth.
Parliament\n supports the Commission’s use of the excessive deficit procedure in order to\n reduce public deficit and emphasise the importance of quantifiable programmes\n for balancing the public finances in Member States, starting in the years\n 2010 and 2011. It is extremely concerned at developments in the deficit\n situation in Greece, and calls for lessons to be learnt from this situation,\n in future enlargements of the euro area, especially in relation to the\n quality of statistical data. In this regard it considers that the legal\n underpinning of national statistical authorities’ professional independence\n should be pursued in those Member States where this has not yet been done.
The resolution\n states that Member States with difficulties in sustaining their public\n finances should, in the first instance, be responsible for resolving those\n difficulties, particularly by means of a more appropriate fiscal policy, and\n it calls on Member States to accelerate the pace of their reforms through\n determined policy actions. Parliament also regrets that there are no binding\n commitments among governments to enforce coordination in the euro area.
Parliament\n calls on the Commission to propose a set of measures to help Member States\n restore balance in their public accounts and finance public investment\n through:
The Commission\n is also called upon to:
Lastly,\n Parliament stresses the importance of using effectively the new provisions in\n Article 136 of the TFEU to improve economic coordination and governance in\n the euro area, and it looks forward to concrete proposals in this respect.
Tackling\n resource dependency: stressing that delaying\n action on climate change because of the crisis could be costly in both\n economic and environmental terms, Parliament calls for radically increased\n efforts in this direction. It calls on the Eurogroup to take the necessary\n measures to facilitate an entry into the euro area for those Member States\n which are seeking to join and which fulfil the conditions for entry.
External\n representation of the euro area: Parliament\n regrets the lack of progress in improving external representation of the euro\n area despite the euro’s growing global role as a reserve currency. It\n stresses that the euro area must build an international strategy commensurate\n with the international status of its currency, and recall that the EMU policy\n agenda will be marked by the challenges posed by emerging Asian economies.\n Global imbalances related to exchange-rate fluctuations between, inter alia,\n the US dollar and the renminbi yuan and the euro must also be addressed in\n order to avoid future financial crises. Parliament invites the Eurogroup, the\n Council and the ECB to step up coordination of their action in the sphere of\n exchange rate policy accordingly.
Parliament\n stresses the importance of exchange rates in the preparation of forthcoming\n G-20 summits. Such preparation should be more transparent within the EU and\n that Parliament should be kept informed.
\nThe Commission\n presents its Annual Statement on the Euro Area 2009.
1) The\n European Area Economy in 2009: the report states\n that in the wake of the shockwaves of the worst crisis since the 30s, signs\n of economic stabilisation are emerging. Important policy interventions\n have succeeded in achieving a degree of stability in the financial system.\n Financial conditions have improved over the summer, with several financial\n indicators returning to pre-crisis levels. Growth in the euro area is set to\n fall by 4% in 2009, unchanged from the Spring 2009 forecast. The stronger\n than expected contraction in activity in the first quarter was compensated\n for by a faster than projected stabilisation in the second quarter,\n especially in Germany and France.
However, the\n strength and resilience of the recovery has yet to be fully tested. While\n banks are in the process of strengthening their solvency ratios, the\n stabilisation in financial markets has yet to yield concrete outcomes for\n credit distribution to the economy, which has decelerated considerably\n throughout the first half of 2009.
The euro\n has acted as a valuable shield in the crisis, by\n protecting the euro area from the exchange rate and interest rate turbulence\n that had proved so damaging for Member States in episodes of financial market\n stress in the past. The financial crisis has increased the attractiveness of\n the euro for non-euro area Member States, eliminating the risk of sudden and\n disruptive exchange rate movements, but has also shown that the euro does not\n solve challenges related to internal and external imbalances. This experience\n confirms the rationale for achieving a high level of sustainable convergence\n prior to euro adoption.
The crisis\n is amplifying some challenges in the euro area,\n weighing on the sustainability of public finances and potential growth. As a\n consequence of the steep fall in revenues, fiscal stimulus measures under the\n European Economic Recovery Plan (EERP) and the operation of automatic\n stabilisers, government balances have deteriorated sharply. The\n average euro area budget deficit is now expected to increase from 2% of GDP\n in 2008 to over 5% of GDP in 2009. Almost all euro area Member States will\n post budget deficit ratios above the 3%-of-GDP threshold, with some countries\n exceeding the benchmark by a large margin.
2) Imbalances\n accumulated in the past rendered some euro area Member States more vulnerable\n when crisis struck. At a global level, the speed\n and intensity of the contagion from the Lehman Brothers bankruptcy came as a\n surprise. While the global, interconnected nature of the banking and\n financial system largely accounts for the contagion, the difficulties\n experienced by some Member States have underscored a number of\n vulnerabilities within the euro area itself.
Accumulated\n intra-euro area imbalances exposed some economies, more than others, to\n shocks. From a balanced position in 1999, surpluses steadily accumulated and\n reached 7.7% of GDP in 2007, while aggregated deficits rose from 3.5% of GDP\n in 1999 to 9.7% in 2007.
In countries\n in deficit, the divergence trend reflected the build-up of domestic\n imbalances. They materialised through excessive domestic demand pressures, a\n surge in house prices and a bloated construction sector. This was especially\n patent in Ireland, Spain and Greece, which consistently recorded higher\n growth and inflation than the rest of the euro area during the decade.\n Conversely, countries in surplus capitalised on their traditional strengths,\n with a growth model centred on their already-competitive export sector. In\n these countries the engine of domestic demand never really kicked in to take\n over the export engine. The impact of the crisis revealed the vulnerability\n of this growth model to fluctuations in global demand, with implications for\n growth in the euro area as a whole.
Another source\n of imbalances lay in the rapid growth of the financial sector. Ireland has\n been a textbook case and following the crisis, ballooning impaired assets\n weakened the banking sector and put public authorities, acting as the lender\n of last resort, under pressure.
Such\n imbalances explain why the crisis has hit some Member States harder than\n others. Overall, Member States pursuing unbalanced growth models have\n suffered particularly severe economic contractions. The impact of the crisis\n demonstrates the need for action. Policymakers in Member States largely\n ignored these imbalances in good economic times. They should not be ignored\n any longer.
3) Unfinished\n business also hampered the euro area’s capacity to respond to the crisis: deeper financial integration in the euro area was not matched by\n a parallel strengthening of supervisory arrangements. The Commission has\n acted effectively to fill this gap. It provided a common framework for the\n implementation of national banking rescue plans, in line with state aid\n rules, benefiting also from ECB support. While the fiscal house was mostly in\n order when the crisis struck, some Member States had limited room to respond\n to the crisis. Public debt levels remained high in Greece, Italy and Belgium,\n while fiscal consolidation was slow and indecisive in France, Greece and\n Portugal. In other countries, public finances became dependant on fiscal\n revenues either from the financial sector or the real estate boom whose slump\n added to the deterioration of public finances and greatly diminished the\n fiscal room for manoeuvre available to counteract the effects of the crisis.\n Globally, euro area governments did their fair share in the concerted global\n effort to sustain demand within the EU-wide coordinating framework of the\n EERP. The overall fiscal support amounts to about 4.6% of euro area GDP\n (about 5% for the EU as a whole).
The aggregate\n impact of the euro area economic policy response could have been faster and\n perhaps stronger if co-ordination had started earlier and been more\n comprehensive.
4) The way\n forward: ensuring efficient internal adjustment and sustainable growth in a\n challenging environment. The crisis has clearly\n demonstrated the urgency for euro area Member States to make rapid progress\n on the EMU@10 reform agenda: broadening and deepening macroeconomic\n surveillance. In its EMU@10\n communication in May 2008, the Commission proposed a three-pillar agenda\n to improve the functioning of EMU in the face of a rapidly changing global\n environment, ageing populations and rising concerns about energy and climate\n change.
It also called for the deepening of fiscal policy coordination and\n increased surveillance.
Broader\n macroeconomic surveillance is urgently needed to spur a co-ordinated policy\n response to the competitiveness challenge. The broadening of surveillance\n should also incorporate financial market developments in earnest.
Surveillance\n should be deepened to ensure sustainable public finances. In the wake of the crisis,\n the combination of low growth and accelerating debt risks putting public\n finances in a precarious situation, just when the impact of ageing is\n starting to set in. If policies are unchanged, public debt in the euro area\n is projected to reach 100% of GDP in 2014. As part of a deeper fiscal\n co-ordination in the euro area, a firm commitment is needed for a fiscal\n strategy that can appropriately balance stabilisation and sustainability\n considerations in line with the Stability and Growth Pact.
Co-ordination across policies and Member States should be enhanced\n to permit judicious exit strategies. Differentiated\n policy responses will need to be incorporated in national exit strategies so\n as to achieve the best global output. In line with the Council\n recommendations to the euro area in the context of the Lisbon strategy,\n progress is needed on the implementation of reforms that enhance potential growth\n and facilitate adjustment to shocks.
The crisis underscored the need to reinforce the framework for\n euro area surveillance and governance. The Lisbon Treaty provides the\n necessary platform for the further improvement of economic governance of the\n euro area. Highlighting the need to develop ever-closer co-ordination of\n economic policies within the euro area, a new Protocol attached to the Lisbon\n Treaty gives formal recognition to the Eurogroup and its President. The Lisbon\n Treaty also strengthens the role of the Commission in the surveillance of the\n functioning of EMU.
Lastly, the\n Commission considers that united, the euro area can influence the global\n agenda. The emergence of the G20 as the forum of choice for the promotion\n of global economic and financial governance reform raises the stakes for the\n euro area. In this context, the euro area should be considered as a single\n economic entity, which will continue to grow in importance as new members\n progressively join. For the euro area to speak with a strong voice at the\n global level, the EU external representation, particularly within the IMF, needs\n to be strengthened. Now is the moment, while discussions on quota and\n representation reform are gaining momentum.
\nThe Committee\n on Economic and Monetary Affairs adopted the own-initiative report drawn up\n by Sven GIEGOLD (Greens/ALE, DE) on the Report on the 2009 Annual Statement\n on the Euro Area and Public Finances.
Monetary\n policy: Members are alarmed by the ongoing\n contraction of employment in the EU despite the exceptional efforts of\n monetary and fiscal policy. They stress that, in addition to the exceptional\n recovery measures, structural reforms must be stepped up rather than\n stalled, so as to make the European economy and labour market more\n robust. They welcome the ECB’s extension of liquidity to credit institutions;\n but are concerned that the extra liquidity has not been used by all banks to\n ease the ‘credit crunch’ faced particularly by small and medium-sized\n businesses (SMEs).
The committee\n is also concerned about the economic consequences for the euro area of a\n rapid fall in the value of the US dollar and the renminbi yuan, the\n latter artificially devalued by an unfair intervention on the part of the\n Chinese Government, and the possibility of a new asset bubble in Asia. It\n calls for enhanced international macroeconomic dialogues in order to\n adjust exchange rates so that a more balanced world economy may be achieved.
The report\n underlines the fact that the discipline of wage moderation also acts as a\n brake on the growth of household income and therefore warns against\n focusing exclusively on wage moderation as an instrument to achieve price\n stability. It recalls that increased global competition has already contributed\n to downward pressure on wages, while higher commodity prices and energy costs\n have reduced the purchasing power of EU consumers. Members stress that real\n salaries should rise in line with productivity gains, in order to\n guarantee long-term stability in the distribution of income.
Members feel\n that exchange-rate fluctuations constitute an impediment to global economic\n recovery and that coordination of monetary policy is essential to\n avoid the emergence of financial imbalances. They call for a world\n monetary conference to be organised under the auspices of the IMF, and\n they also want better coordination between the WTO, the IMF, the Financial\n Stability Board and the World Bank Group in order to combat speculation.
Improving\n coordination and cooperation on economic policy: the Committee shares the Commission’s concerns about accumulated\n imbalances in the euro area. It calls on the Commission to develop\n diagnostic tools and indicators, in order more effectively to assess\n economic developments in Member States, including multilateral surveillance\n of unit labour costs, real exchange rates, financial markets and policies\n affecting competitiveness. It also suggests that the Commission examine\n possible ways of improving effectively the economic governance of the euro\n area, including the setting-up of new mechanisms to prevent the renewed\n excessive growth of such imbalances in the future and the asymmetric shocks\n to which they contribute.
Members also\n make the following points:
Public\n finances: noting that Member States’ public\n deficits are set to increase rapidly to about 7% of GDP in 2010, the\n committee expresses its deep concern over the unsustainable level of\n public debt and its predicted rapid increase in 2010 and 2011. It takes\n the view that, once out of the current recession, there is a need, while\n complying with the reformed SGP, to strengthen the preventive arm of the\n pact in order to ensure that Member States refrain effectively from\n pro-cyclical policies during periods of growth. Members support the\n Commission’s use of the excessive deficit procedure in order to reduce public\n deficit and emphasise the importance of quantifiable programmes for balancing\n the public finances in Member States, starting in the years 2010 and 2011.\n They are extremely concerned at developments in the deficit situation in\n Greece, and call fpr lessons to be learnt from this situation, in future\n enlargements of the euro area, especially in relation to the quality of\n statistical data.
The report\n states that Member States with difficulties in sustaining their public\n finances should, in the first instance, be responsible for resolving those\n difficulties, particularly by means of a more appropriate fiscal policy,\n and it calls on Member States to accelerate the pace of their reforms through\n determined policy actions. Members also regret that there are no binding\n commitments among governments to enforce coordination in the euro area.
They call on\n the Commission to propose a set of measures to help Member States restore\n balance in their public accounts and finance public investment through:
The committee\n calls on the Commission:
Lastly, the\n committee stresses the importance of using effectively the new provisions in\n Article 136 of the TFEU to improve economic coordination and\n governance in the euro area, and it looks forward to concrete proposals\n in this respect.
Tackling resource\n dependency:stressing that delaying action\n on climate change because of the crisis could be costly in both economic and\n environmental terms, the committee calls for radically increased efforts in\n this direction. It calls on the Eurogroup to take the necessary measures to\n facilitate an entry into the euro area for those Member States which are\n seeking to join and which fulfil the conditions for entry.
External\n representation of the euro area: Members\n regret the lack of progress in improving external representation of the\n euro area despite the euro’s growing global role as a reserve currency.\n They stress that the euro area must build an international strategy\n commensurate with the international status of its currency, and recall that\n the EMU policy agenda will be marked by the challenges posed by emerging\n Asian economies. Global imbalances related to exchange-rate fluctuations\n between, inter alia, the US dollar and the renminbi yuan and the euro must\n also be addressed in order to avoid future financial crises, and the\n committee invites the Eurogroup, the Council and the ECB to step up coordination\n of their action in the sphere of exchange rate policy accordingly.\n Members stress the importance of exchange rates in the preparation of\n forthcoming G-20 summits. Such preparation should be more transparent within\n the EU and that Parliament should be kept informed.
\nThe European\n Parliament adopted a resolution on the 2009 Annual Statement on the Euro Area\n and Public Finances.
Parliament is\n alarmed by the ongoing contraction of employment in the EU despite the\n exceptional efforts of monetary and fiscal policy. It stresses that, in\n addition to the exceptional recovery measures, structural reforms must be\n stepped up rather than stalled, so as to make the European economy and labour\n market more robust. It welcomes the active and flexible monetary policy of\n the ECB since October 2008 in extending liquidity provisions to credit\n institutions, but is concerned that the extra liquidity has not been used by\n all banks to ease the ‘credit crunch’ faced particularly by small and\n medium-sized businesses (SMEs).
Parliament is\n also concerned about the economic consequences for the euro area of a rapid\n fall in the value of the US dollar and the renminbi yuan, the latter\n artificially devalued by an unfair intervention on the part of the Chinese\n Government, and the possibility of a new asset bubble in Asia. It calls for\n enhanced international macroeconomic dialogue in order to adjust exchange\n rates so that a more balanced world economy may be achieved.
The resolution\n underlines the fact that the discipline of wage moderation also acts as a\n brake on the growth of household income and therefore warns against focusing\n exclusively on wage moderation as an instrument to achieve price stability.\n It stresses that real salaries should rise in line with productivity gains,\n in order to guarantee long-term stability in the distribution of income.
Parliament\n feels that exchange-rate fluctuations constitute an impediment to global\n economic recovery and that coordination of monetary policy is essential to\n avoid the emergence of financial imbalances. It calls for a world monetary\n conference to be organised under the auspices of the IMF as a forum for\n global consultation on monetary questions.
Improving coordination\n and cooperation on economic policy: Parliament shares the Commission’s\n concerns about accumulated imbalances in the euro area. It calls on the\n Commission to develop diagnostic tools and indicators, in order more\n effectively to assess economic developments in Member States, including\n multilateral surveillance of unit labour costs, real exchange rates,\n financial markets and policies affecting competitiveness. It also suggests\n that the Commission examine possible ways of improving effectively the\n economic governance of the euro area, including the setting-up of new\n mechanisms to prevent the renewed excessive growth of such imbalances in the\n future and the asymmetric shocks to which they contribute.
Members also\n make the following points:
Public\n finances: noting that Member States’ public deficits are set to increase\n rapidly to about 7% of GDP in 2010, Parliament expresses its deep concern\n over the unsustainable level of public debt and its predicted rapid increase\n in 2010 and 2011. It takes the view that, once out of the current recession,\n there is a need, while complying with the reformed SGP of 2005, to strengthen\n the preventive arm of the pact in order to ensure that Member States refrain\n effectively from pro-cyclical policies during periods of growth.
Parliament\n supports the Commission’s use of the excessive deficit procedure in order to\n reduce public deficit and emphasise the importance of quantifiable programmes\n for balancing the public finances in Member States, starting in the years\n 2010 and 2011. It is extremely concerned at developments in the deficit\n situation in Greece, and calls for lessons to be learnt from this situation,\n in future enlargements of the euro area, especially in relation to the\n quality of statistical data. In this regard it considers that the legal\n underpinning of national statistical authorities’ professional independence\n should be pursued in those Member States where this has not yet been done.
The resolution\n states that Member States with difficulties in sustaining their public\n finances should, in the first instance, be responsible for resolving those\n difficulties, particularly by means of a more appropriate fiscal policy, and\n it calls on Member States to accelerate the pace of their reforms through\n determined policy actions. Parliament also regrets that there are no binding\n commitments among governments to enforce coordination in the euro area.
Parliament\n calls on the Commission to propose a set of measures to help Member States\n restore balance in their public accounts and finance public investment\n through:
The Commission\n is also called upon to:
Lastly,\n Parliament stresses the importance of using effectively the new provisions in\n Article 136 of the TFEU to improve economic coordination and governance in\n the euro area, and it looks forward to concrete proposals in this respect.
Tackling\n resource dependency: stressing that delaying\n action on climate change because of the crisis could be costly in both\n economic and environmental terms, Parliament calls for radically increased\n efforts in this direction. It calls on the Eurogroup to take the necessary\n measures to facilitate an entry into the euro area for those Member States\n which are seeking to join and which fulfil the conditions for entry.
External\n representation of the euro area: Parliament\n regrets the lack of progress in improving external representation of the euro\n area despite the euro’s growing global role as a reserve currency. It\n stresses that the euro area must build an international strategy commensurate\n with the international status of its currency, and recall that the EMU policy\n agenda will be marked by the challenges posed by emerging Asian economies.\n Global imbalances related to exchange-rate fluctuations between, inter alia,\n the US dollar and the renminbi yuan and the euro must also be addressed in\n order to avoid future financial crises. Parliament invites the Eurogroup, the\n Council and the ECB to step up coordination of their action in the sphere of\n exchange rate policy accordingly.
Parliament\n stresses the importance of exchange rates in the preparation of forthcoming\n G-20 summits. Such preparation should be more transparent within the EU and\n that Parliament should be kept informed.
\n