2012/2256(INI) | [ParlTrack]

Draft opinion
Paragraph 4 – point 1 (new)

(1) Stresses the need to modernise public administration as it is an important factor to improve the member states' absorption rate of the structural funds; suggests that member states should be provided assistance by experts if they wish; recalls that the use of structural funds should also be improved by reducing bureaucratic burdens;

Amendment 13 #

Draft opinion
Paragraph 5

5. Is ~~strong~~deeply concerned by the ~~high risk of the euro area re-entering recession, which is indicated by a contracting economy~~ negative impact that fiscal consolidation has on growth and job creation; welcomes Commission's acknowledgment that only a differentiated fiscal consolidation approach towards Member States cand a ~~rise in unemployment~~chieve both growth and social fairness;

Amendment 14 #

Draft opinion
Paragraph 6

6. Takes the view that a ~~further~~ more stpre~~ngthening of fiscal discipline and fiscal institu~~ad out and balanced fiscal consolidations at both national and sub- national levels ~~is a prerequisite for enhancing market confidence in the medium- and long-term~~can be conducive to achieve sustainab~~ility of~~le public finances in the euro area, which is of paramount importance to growth; urges Member States to pursue fiscal consolidation and respect the rules for a balanced budget, in line with the rules of the Stability and Growth Pact, which take into account country-specific macro- financial situations, enhanced market confidence, increased competitiveness, more growth and improved employment opportunities in the euro area and indeed in the whole EU;

Amendment 15 #

Alain CADEC

Draft opinion
Paragraph 7

Amendment 16 #

Draft opinion
Paragraph 7

7. Calls on Member States to prioritise, on the expenditure and revenue sides of the budget, growth-friendly policies, particularly in the areas of education, research, innovation, infrastructure and energy, and ensure the efficiency of such expenditures and revenues; stresses that particular attention should also be paid to reinforcing the coverage and effectiveness of employment services and active labour market policies;

Amendment 17 #

Draft opinion
Paragraph 7

7. Calls on Member States to prioritise, on the expenditure and revenue sides of the budget, growth-friendly policies, particularly in the areas of education, research, innovation, infrastructure and energy, and ensure the efficiency of such expenditures and revenues; recalls that growth can be achieved without increasing the national budget but by prioritising investment in growth-friendly policies;

Amendment 18 #

Victor BOŞTINARU

Draft opinion
Paragraph 7 a (new)

7 a. Iinvites Member States to pay particular attention to long life learning and retraining programs in order to avoid, in the following decades, a shortage of manpower in areas of interest;

Amendment 19 #

Draft opinion
Paragraph 8

8. UStresses the need to ensure coherence within and among different Member States' and regions' economic policies where special attention should be given to the spill-over effects of individual national economic policies; urges Member States and regions to ensure the consistency of different economic policy instruments, in particular as regards policies targeting the EUurope 2020 objectives ~~and headline targets on an equal basis so as to attract investors' inter~~, so as to restore investors' confidence in order to achieve the long-term financing of the real economy; in light of the limited and costly access to funding for many businessest and ~~restore their confidence in order to achieve the long-term financing of the real economy~~households, calls on the Commission to continue working with Member States to accelerate the use of unallocated Structural Funds as well as encourage them to make full use of new innovative risk-sharing instruments (such as project bonds) to help unlock private funding;

Amendment 2 #

Draft opinion
Paragraph 1

1. Welcomes the efforts made to strengthen coordination of economic ~~and~~, budgetary ~~coordination~~and employment policies through the European Semester, allowing the parallel monitoring of ~~national budgets and economic policies in parallel~~different national policies during a six- month period every year;

Amendment 20 #

Draft opinion
Paragraph 8 a (new)

8 a. Is deeply concerned, that years after the start of a systemic crisis, long term unemployment continues to increase within the EU, accompanied with alarming levels of youth unemployment, increasing risks of poverty and social exclusion with no prospects of immediate improvement;

Amendment 21 #

Draft opinion
Paragraph 8 b (new)

8 b. Urges the Commission, Member States and regions to make determined action against unemployment levels in the EU their priority; calls on the Commission to include in the European Semester as one of the Europe 2020 sub- targets the fight against youth unemployment and poverty;

Amendment 22 #

Draft opinion
Paragraph 9

9. Calls for strong measures to restore confidence in the banking sector and thus boost investment; recalls that ~~lack of~~ insufficient access to finance remains one of the critical barriers preventing SMEs from finding private capital to match EU co-funding and regaining competitiveness; underlines that cohesion policy's innovative financial instruments together with the EIB capital, can act as catalysts for targeted investment towards SMEs and serve as a complement to traditional bank lending; urges the Commission to provide detailed information, further assistance and guidance to Member States and regions concerning financial instruments under cohesion policy in 2013 and future programming period (2014-2020);

Amendment 23 #

Draft opinion
Paragraph 9

9. Calls for strong measures to restore confidence in the banking sector and thus boost investment; recalls that lack of access to finance remains one of the critical barriers preventing ~~SME~~small and medium sized enterprises from finding private capital to match EU co-funding and regaining competitiveness; recommends that the structural funds should be used for financing venture capital funds by generating additional financing for small and medium sized enterprises;

Amendment 24 #

Draft opinion
Paragraph 10

10. Points out that ~~additional efforts are constantly requir~~more determined action is needed to crea~~ch the targets, especially in the area of employment, which is at least as important as grow~~te the conditions for a job-rich recovery, with in the context of the European Semester; stresses that job creation is a prerequisite for sustainable growth and the prevention of future crises;

Amendment 25 #

Alain CADEC

Draft opinion
Paragraph 11

11. Takes the view that, in order to strengthen growth, competitiveness and productivity, enhanced coordination of economic policies and far-reaching structural reforms are needed.

Amendment 26 #

Draft opinion
Paragraph 11

11. Takes the view that~~, in order to strengthen growth and productivity, enhanced coordination of economic policies and far-reaching structural reforms are needed~~ budgetary, growth and employment measures need to be taken simultaneously as they are interdependent and jointly constitute a prerequisite for a full recovery.

Amendment 3 #

Petru Constantin LUHAN

Draft opinion
Paragraph 1 a (new)

1 a. Considers that the recently ended European semesters have highlighted the necessity for the European Union to fight the consolidation of inequalities among regions and the macro-economical imbalances based on an symmetric approach and based on more democratic legitimacy, as well as on interconnected policies at European level that target the achievement of the objectives established in the Europa 2020 Strategy;

Amendment 4 #

Tamás DEUTSCH

Draft opinion
Paragraph 2

2. Underlines the crucial role of cohesion policy as a key instrument for Europe 2020; considers that a strong and well- funded cohesion policy is an effective and efficient instrument to implement Europe 2020 and prevent future economic and financial crises, owing to its long-term development programmes, budgetary dimension and decentralised administration system and the incorporation of the EU's priorities for sustainable development; points out that cohesion policy is an investment policy and should thus promote territorial, economic and social cohesion in all regions of the EU, keeping in mind the principle of solidarity; stresses, in this connection, the importance of involving regions in achieving the EU 2020 goals of smart, sustainable and inclusive growth;

Amendment 5 #

Draft opinion
Paragraph 2

2. Underlines the crucial role of cohesion policy as a key instrument for achieving the objectives of Europe 2020; considers that a strong and well- funded cohesion policy is an effective and efficient instrument to implement Europe 2020 and help prevent future economic and financial crises, owing to its long-term development programmes, budgetary dimension and decentralised administration system ~~and the incorporation of the EU's priorities for sustainable development~~; points out that cohesion policy is an investment policy and should thus promote sustainable territorial, economic and social cohesion in ~~all regions of~~ the EU, keeping in mind the principle of solidarity; stresses, in this con~~nection~~text, the importance of involving all regions and local authorities in achieving the EUurope 2020 goals;

Amendment 6 #

Draft opinion
Paragraph 2

2. Underlines the crucial role of cohesion policy as a key instrument for Europe 2020 and a macroeconomic stabilizing factor generating growth and employment; considers that a strong and well- funded cohesion policy is an effective and efficient instrument to implement Europe 2020 and prevent future economic and financial crises, owing to its long-term development programmes, budgetary dimension and decentralised administration system and the incorporation of the EU's priorities for sustainable development; points out that cohesion policy is an investment policy and should thus promote territorial, economic and social cohesion in all regions of the EU, keeping in mind the principle of solidarity; stresses, in this connection, the importance of involving regions in achieving the EU 2020 goal;

Amendment 7 #

Petru Constantin LUHAN

Draft opinion
Paragraph 2 a (new)

2 a. Considers that the regional policy will continue to play a very important role in the development of national programs within the European semester and, at the same time, will represent a key instrument for achieving the established objectives on medium and long- term;

Amendment 8 #

Draft opinion
Paragraph 3

3. Recalls that Cohesion Policy can only be successful if sound broad fiscal and structural policies conducive to growth are put in place by Member States; stresses that implementing the Common Strategic Framework funds where national governments fail to set the right policies or fail to carry out the necessary structural reforms may entail wasting financial resources or even reducing incentives to correct unhealthy economic policieit can enjoy a stable and durable financial framework; stresses that implementation of funds covered by the CPR cannot be made conditional upon compliance with macroeconomic conditionality as regional and local authorities cannot be blamed for their national governments' inability to balance their budgets;

Amendment 9 #

Draft opinion
Paragraph 3

3. Recalls that Cohesion Policy can only be successful if sound broad fiscal and structural policies conducive to growth are put in place by Member States and should therefore be linked to a macroeconomic conditionality; stresses that implementing the Common Strategic Framework funds where national governments fail to set the right policies or fail to carry out the necessary structural reforms may entail wasting financial resources or even reducing incentives to correct unhealthy economic policies;

source: PE-501.919

2012/12/12 BUDG 4 amendments...

Amendment 1 #

Angelika WERTHMANN

Draft opinion
Paragraph 1

1. Regrets the absence of new proposals from the Commission on an enhanced democratisation of the European Semester process, which remains absolutely necessary and should be of high priority; notes the Commission's «Blueprint for a Deep and Genuine EMU – Launching a European Debate»; reaffirms its call for an appropriate «checks and balances» system, through enhanced participation of both the European Parliament and the national parliaments and strengthened coordination between them in all phases of the European Semester (on the basis of Article 13 of the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union) in order to transform the current very formal exercise of the European Semester into genuine economic and budgetary cooperation;

Amendment 2 #

Angelika WERTHMANN

Draft opinion
Paragraph 4

4. Is convinced that funding at EU level can generate savings for all the Member States' budgets and that this should be emphasised; considers that the EU budget has a vital role to play in stimulating growth, boosting job creation and successfully reducing macroeconomic imbalances throughout the Union, basically also in reaching the "EU-2020 goals"; regrets once again that the Commission fails to address this issue in its Communication on the AGS;

Amendment 3 #

Angelika WERTHMANN

Draft opinion
Paragraph 5

5. Strongly condemns the position taken once again by the Council in the framework of the 2013 budget negotiations to reduce artificially the level of payment appropriations available in the EU budget; stresses that the position of the Budget Ministers diminishes the credibility of the European budget authorities by jeopardising the implementation of the Compact for Growth and Jobs adopted at the June 2012 European Council meeting; calls, once more, on the Council to agree with Parliament and the Commission on a common method to assess real payment needs in order to implement the Compact for Growth and Jobs; underlines the utmost urgency of the situation, especially in respect of programmes at the core of the Compact for Growth and Jobs and included in headings 1A and 1B (competitiveness for growth and employment / cohesion for growth and employment), as well as rural development;

Amendment 4 #

Frédéric DAERDEN

Draft opinion
Paragraph 10

10. Recalls that the European budget is primarily an investment budget, with 94% of its total being reinvested back in the Member States; asks the Commission to explore the possibility of excluding the GNI-based contribution to the EU budget and/or Member States participation in cofinancing of EU funds or programs, within the the heading 1 "sustainable growth" of the Multiannual Financial Framework, from the calculation of the structural deficit as defined in the two- pack;

source: PE-502.015

2012/12/20 ECON 323 amendments...

Amendment 1 #

Sylvie GOULARD

Motion for a resolution
Citation 6 a (new)

- having regard the conclusions of the Economic and Monetary affairs Council of 13 November 2012 in particular on tax matters;

Amendment 10 #

Motion for a resolution
Recital C

C. whereas it should be recalled that, in 2007, at the start of the crisis, the average public deficit for the euro area stood at only 0.6 % and was on a declining path towards ~~equilibrium;~~ overall balanced budgets; whereas insufficient counter-cyclical efforts were made during the good years as the debt bubble contributed to increasing artificially public revenues in a non sustainable way in several Member States;

Amendment 100 #

Motion for a resolution
Recital Q

Q. whereas the Commission ~~has been unable to make a convincing case that the policy options imposed will deliver over time and that they will impact on society in a fair and acceptable wa~~proposes medium- and long-term growth- enhancing measures in order to improve the competitiveness of the European economy;

Amendment 101 #

Motion for a resolution
Recital Q

Q. whereas the ~~Commission has been unable to make a convincing case that the policy options imposed will deliver over time and that they will impact on society in a fair and acceptable way~~policy options imposed will deliver over time;

Amendment 102 #

Motion for a resolution
Recital Q

Amendment 103 #

Motion for a resolution
Recital Q

Q. whereas the Commission has ~~been unable to~~ makde a convincing case that the policy options imposed will deliver over time and that they ~~will impact on society in a fair and acceptable wa~~are necessary;

Amendment 104 #

Motion for a resolution
Recital Q a (new)

Qa. whereas fiscal tightening should not jeopardise the progress achieved by policies promoting gender equality nor serve as a pretext for reducing efforts in this respect;

Amendment 105 #

Motion for a resolution
Recital R

R. whereas lending to the private sector ~~remains weak and privat~~is key to financing the cre~~dit flows are subdued~~al economy;

Amendment 106 #

Motion for a resolution
Recital R

R. whereas lending to the private sector remains weak and private credit flows are subdued, despite the various liquidity programmes established by the ECB;

Amendment 107 #

Motion for a resolution
Recital R

R. whereas lending to the private sector remains weak and private credit flows are subdued in several Member States;

Amendment 108 #

Motion for a resolution
Recital R a (new)

Ra. whereas Small and Medium-sized Enterprises (SME) are the engine of the European economy and Member States should support them by reducing the administrative burden they are facing;

Amendment 109 #

Motion for a resolution
Recital R a (new)

Ra. whereas adjustment has to be perceived as credible if investment flows are to return;

Amendment 11 #

Motion for a resolution
Recital C

C. whereas it should be recalled that, in 2007, at the start of the crisis, the average public deficit for the euro area stood at only 0.6 % ~~and was on a declining path towards equilibrium~~;

Amendment 110 #

Motion for a resolution
Recital S

S. whereas the contributing capacity of taxpayers is ~~almost exhausted in several Member Stat~~put under serious pressure in several Member States whereas there is however scope for a fairer and more balanced distribution of efforts in all Member States so as to alleviate the tax burden on labour and increase the burden on polluting activities an more generally on activities originating costly negative externalities; whereas the European shadow economy is estimated to represent 22.1 % of total economic activity and the resulting loss of tax to be around EUR one trillion each year;

Amendment 111 #

Motion for a resolution
Recital S

S. whereas the contributing capacity of taxpayers is almost exhausted in several Member States; whereas the European shadow economy is estimated to represent 22.1 % of total economic activity and the resulting loss of tax to be around EUR one trillion each year; whereas simple, predictable and low tax systems improve tax compliance;

Amendment 112 #

Motion for a resolution
Recital T

T. whereas the 2013 Annual Growth Survey (AGS 2013) seeks to set out the economic ~~and social~~ priorities for 2013;

Amendment 113 #

Motion for a resolution
Recital U

~~U. whereas the fiscal discipline pillar should be developed hand in hand with the solidarity and democracy pillars;~~deleted

Amendment 114 #

Motion for a resolution
Recital U

U. whereas ~~the fiscal discipline pillar should be developed hand in hand with the solidarity and democracy pillar~~growth-friendly fiscal consolidation should go hand in hand with growth-enhancing structural reforms;

Amendment 115 #

Motion for a resolution
Recital U

U. whereas the fiscal discipline pillar should be developed hand in hand with the ~~solidarity~~growth and democracy pillars;

Amendment 116 #

Motion for a resolution
Recital U

U. whereas the fiscal discipline pillar should be developed hand in hand with the solidarity and democracy pillars in each Member State;

Amendment 117 #

Motion for a resolution
Recital U a (new)

Ua. whereas the Single Market is the EU's key engine for growth and jobs through economies of scale and greater competition but Member States show complacency in implementing internal market legislation, particularly the services directive;

Amendment 118 #

Motion for a resolution
Recital U a (new)

Ua. whereas each Member State needs to find national unity over a reform strategy so that it may be understood and adhered to by the people and different economic actors, thus avoiding divisions, resistance and actions based on only short-term self- interest, which threaten the achievement of set targets;

Amendment 119 #

Motion for a resolution
Recital U a (new)

Ua. whereas competition policy based on the principles of open markets and a level playing field in all sectors is a cornerstone of the unrestricted functioning of the internal market;

Amendment 12 #

Motion for a resolution
Recital C a (new)

Ca. whereas it should be recalled that, in 2007, at the start of the crisis, the countries which now experience the severest difficulties, had accumulated excessive current account deficits;

Amendment 120 #

Motion for a resolution
Paragraph -1 a (new)

-1a. Welcomes the spirit of the Annual Growth Survey (AGS) 2013 as presented by the Commission; Believes that it is an adequate follow up to the European Semester 2012 in general and the AGS 2012 in specific; Welcomes in particular the increased clarity in country-specific strategies that the Commission has introduces by prioritizing progress in the euro area countries as well as progress in structural terms rather than nominal terms;

Amendment 121 #

Motion for a resolution
Paragraph 1

1. Welcomes the recognition in the AGS 2013 that growth is necessary in order to exit the crisis~~, but doubts whether the positive signs of recovery seen by the Commission are accurate; warns of the risk of a continued contraction of economic activity over the com~~; stresses the solutions specifically targeting the current sovereign and financial crisis should go hand-in-hand with growth-enhancing ymear sures~~ulting from the aggregate negative effect of significant and simultaneous procyclical budget cuts across the euro area~~ in order to improve the competitiveness of the European economy and regain confidence;

Amendment 122 #

Motion for a resolution
Paragraph 1

1. Welcomes the recognition in the AGS 2013 that sustainable growth is necessary in order to exit the crisis~~, but doubts whether~~ and underlines the positive signs of recovery ~~seen by the Commission are accurate~~; warns of the risk of a continued contraction of economic activity ~~over the coming year~~ resulting from the aggregate negative effect of ~~significant and simultaneous procyclical budget cuts across the euro area~~a deviation from the path of fiscal consolidation and structural reforms;

Amendment 123 #

Motion for a resolution
Paragraph 1

1. Welcomes the recognition in the AGS 2013 that ~~growth~~a comprehensive shift towards sustainable growth enhancing and green job rich sectors and activities is necessary in order to exit the crisis, ~~but doubts whether~~is however circumspect on the positive signs of recovery seen by the Commission ~~are accurate~~; warns of the risk of a continued contraction of economic activity over the coming year resulting from the aggregate negative effect of significant and simultaneous procyclical budget cuts across the EU and the euro area;

Amendment 124 #

Motion for a resolution
Paragraph 1

1. Welcomes the recognition in the AGS 2013 that growth is necessary in order to exit the crisis, but doubts whether the positive signs of recovery seen by the Commission are accurate; warns of the risk of a continued contraction of economic activity over the coming year ~~resulting from the aggregate negative effect of significant and simultaneous procyclical budget cuts across the euro area~~before a sustainable recovery starts to gain more momentum;

Amendment 125 #

Motion for a resolution
Paragraph 1

1. Welcomes the recognition in the AGS 2013 that growth is necessary in order to exit the crisis, but doubts whether the positive signs of recovery seen by the Commission are accurate; warns of the risk of a continued contraction of economic activity over the coming year, and consequent deterioration of fiscal problems, resulting from the aggregate negative effect of significant and simultaneous procyclical budget cuts across the euro area;

Amendment 126 #

Motion for a resolution
Paragraph 1

1. Welcomes the recognition in the AGS 2013 that growth is necessary in order to exit the crisis, but doubts whether the positive signs of recovery seen by the Commission are accurate; warns of the risk of a continued contraction of economic activity over the coming year resulting from the aggregate negative effect of significant and simultaneous procyclical budget cuts across the euro area and supports the Commission in its view that there are positive signs of recovery; warns of the risk of a relapse over the coming year resulting from a lack of implementation of adjustment programmes and structural reforms;

Amendment 127 #

Motion for a resolution
Paragraph 1

1. Welcomes the ~~recogni~~adoption inof the AGS 2013 ~~that growth is necessary in order to exit the crisis, bu~~by the European Commission and supports the priorities set dou~~bts whether~~t in the survey; takes note of the positive signs of recovery seen by the Commission; a~~re accurate; warns of~~cknowledges the risk of a continued contraction of economic activity over the coming year ~~resulting from the aggregate negative effect of significant and simultaneous procyclical budget cuts across the euro area~~;

Amendment 128 #

Motion for a resolution
Paragraph 1 a (new)

1a. Agrees with the Commission that growth-friendly fiscal consolidation is necessary in order to exit the crisis; recalls that the key element in the relationship between growth and consolidation is the composition of consolidation; stresses in this respect that the appropriate mix of expenditure and revenue side measures is context dependent, however consolidations based on cutting expenditure rather than on increasing revenue tend to be more lasting and more growth-enhancing in the medium term, but more recessive in the short term;

Amendment 129 #

Philippe LAMBERTS, Emilie TURUNEN

Motion for a resolution
Paragraph 1 a (new)

1a. Welcomes the commitments made by the Commission in the framework of its 'blueprint for the future of the EMU" regarding the adoption of proposals for the gradual establishment of an EMU fiscal capacity aiming at fostering solidarity and creating an EU couter- cyclical and shock absorption function; deems that such proposals need to be truly ambitious and far reaching regarding their size and scope;

Amendment 13 #

Motion for a resolution
Recital D

D. whereas the sharp deterioration of public deficits and debt, which has been seen since 2009 in ~~many~~several Member States, has been triggered by the reaction of governments to the crisis~~, in the absence of European anticyclical instruments~~ and more specifically by the subsequent socialisation of costs arising from extraordinary public support granted to the financial sector as well as the need to trigger automatic stabilizers, whereas the absence of European anticyclical instruments and asymmetric shock absorbers has created negative externalities and spill-over effects and has not contributed to alleviate the overall situation;

Amendment 130 #

Motion for a resolution
Paragraph 1 b (new)

1b. Looks forward to the forthcoming steps announced by the Commission as a follow-up to the review clause of the 'two pack' on public finances quality;

Amendment 131 #

Motion for a resolution
Paragraph 1 c (new)

1c. Welcomes the provision agreed on the 'two pack' regarding a more qualitative surveilance and assessment of public finances as well as cost-benefits assessments of public investments;

Amendment 132 #

Motion for a resolution
Paragraph 1 d (new)

1d. Welcomes the provisions agreed in the two pack enhancing the economic dialogue and the overall scrutiny on the Semester process of National Parliaments and the European Parliament;

Amendment 133 #

Motion for a resolution
Paragraph 2

Amendment 134 #

Motion for a resolution
Paragraph 2

2. Calls on the Commission to study seriously the possibility of spreading fiscal adjustment over a longer period, thereby providing additional temporary room for manoeuvre to re-ignite growth as soon as possible;.Deplores the lack of implementation in the member States of policies and actions agreed at the EU level, which prevent the agreed measures from unleashing their full potential;

Amendment 135 #

Motion for a resolution
Paragraph 2

2. Calls on the Co~~mmission to study seriously the possibility of spreading fiscal adjustment over a longer period, thereby providing additional temporary room for manoeuvre to re-ignite growth as soon as possible;.~~uncil and the Commission to assess thoroughly the option of spreading fiscal adjustment over a longer period, in light of the current macroeconomic context and negative spillover effects as well as in light of the principle of differentiated, smart and growth-friendly fiscal consolidation in the Member States thereby providing additional temporary room for manoeuvre to re-ignite sustainable growth so as to make full use of the flexibility foreseen in times of economic downturn by the updated Growth and Stability Pact;

Amendment 136 #

Motion for a resolution
Paragraph 2

2. Calls on the Commission to study seriously the possibility of ~~spreading fiscal adjustment ove~~putting forward proposals for a lcon~~ger period, thereby providing additional temporary room for manoeuv~~vergence code for Member States' economies with the objective of increasing competitiveness in the whole of the euro area t~~o re-ignite growth as soon as possible;.~~hrough binding commitments to structural reforms;

Amendment 137 #

Motion for a resolution
Paragraph 2

2. Calls on the Commission to study ~~seriously the possibility~~in- depth the time-inconsistency problem of spreading fiscal adjustment over a longer period~~, thereby providing additional temporary room for manoeuvre to re-ignite growth as soon as possible;.~~ and the negative effects of such a policy which will prolonge the crisis and increase uncertainty for investors;

Amendment 138 #

Motion for a resolution
Paragraph 2

2. Calls on the Commission to study seriously the possibility ~~of spreading fiscal adjustment over a longer period, thereby providing additional temporary room for manoeuvre to re-ignite growth as soon as possible;~~for further structural reforms, thereby supporting the fiscal discipline in the Member States, and taking into account that sufficient potential for growth will be preserved.

Amendment 139 #

Motion for a resolution
Paragraph 2

2. Calls on the Commission to ~~study seriously the possibility of spreading fiscal adjustment over a longer period, thereby providing additional temporary room for manoeuvre to re-ignite growth as soon as possible;.~~monitor and evaluate the process of fiscal adjustment;

Amendment 14 #

Motion for a resolution
Recital D

D. whereas the sharp deterioration of public deficits and debt, which has been seen since 2009 in many Member States, has been mainly triggered by the ~~reaction of governments to the crisis, in the absence of European anticyclical instruments~~need for the public sector to bail-out the financial institutions in the interest of financial stability;

Amendment 140 #

Motion for a resolution
Paragraph 2

2. Calls on the Commission to study seriously ~~the possibility of spreading fiscal adjustment over a longer period, thereby providing additional temporary room for manoeuvre to re-ignite~~and propose how best to re- ignite and strengthen growth as soon as possible;.

Amendment 141 #

Pablo ZALBA BIDEGAIN

Motion for a resolution
Paragraph 2

2. Calls on the Commission to study seriously the ~~possibility of~~economic situation of the Member States in order to spread~~ing~~ fiscal adjustment over a longer period, thereby providing additional temporary room for manoeuvre to re-ignite growth as soon as possible;.

Amendment 142 #

Motion for a resolution
Paragraph 2

2. Calls on the Commission to study seriously the possibility of spreading and backloading fiscal adjustment over a longer period, thereby providing additional temporary room for manoeuvre to re-ignite growth as soon as possible;.

Amendment 143 #

Motion for a resolution
Paragraph 2 a (new)

2a. Points to the potential positive spill- over effects on Member States in severe economic difficulties if Member States with relatively strong public finances are allowed to invest in a coordinated and responsible manner; believes that this could be an important element for a common economic recovery coordinated in the context of the European Semester;

Amendment 144 #

Motion for a resolution
Paragraph 3

~~3. Calls on the Commission to admit the self-defeating nature of the prevailing policy stance and to revise its policy recommendations for next year, as contained in its AGS;~~deleted

Amendment 145 #

Motion for a resolution
Paragraph 3

~~3. Calls on the Commission to admit the self-defeating nature of the prevailing policy stance and to revise its policy recommendations for next year, as contained in its AGS;~~deleted

Amendment 146 #

Motion for a resolution
Paragraph 3

~~3. Calls on the Commission to admit the self-defeating nature of the prevailing policy stance and to revise its policy recommendations for next year, as contained in its AGS;~~deleted

Amendment 147 #

Motion for a resolution
Paragraph 3

~~3. Calls on the Commission to admit the self-defeating nature of the prevailing policy stance and to revise its policy recommendations for next year, as contained in its AGS;~~deleted

Amendment 148 #

Motion for a resolution
Paragraph 3

~~3. Calls on the Commission to admit the self-defeating nature of the prevailing policy stance and to revise its policy recommendations for next year, as contained in its AGS;~~deleted

Amendment 149 #

Motion for a resolution
Paragraph 3

3. Calls on the Commission to ~~admit the self-defeating nature~~put forward in its next AGS an overall cost-benefit assessment of the policy-mix implemented across the Union, taking proper account as appropriate of counter-productive effects of the prevailing policy ~~stance~~mix and to revise its horizontal policy recommendations for next year, as contained in its AGS;

Amendment 15 #

Motion for a resolution
Recital D

D. whereas the sharp deterioration of public deficits and debt, which has been seen since 2009 in many Member States, ~~has been triggered by the reaction of governments to the crisis, in the absence of European anticyclical instruments~~is a result of a very deep international recession, the effects of which were deferred due to the response of public authorities salvaging national economies by using hundreds of billions of euros in total;

Amendment 150 #

Motion for a resolution
Paragraph 3

3. Calls on the Commission to ~~admit the self-defeating nature of the prevailing policy stance and to revise~~remain vigilant about its policy stance and, if needed, to revise and further clarify its policy recommeandations for next year , as contained in its AGS;.

Amendment 151 #

Motion for a resolution
Paragraph 3 a (new)

3a. Urges Member States to correct their excessive deficits by the deadlines set by the Council;

Amendment 152 #

Motion for a resolution
Paragraph 3b (new)

3b. Encourages the Member States to improve their domestic fiscal frameworks with a view to promoting efficient and sustainable fiscal policies;

Amendment 153 #

Motion for a resolution
Paragraph 3 c (new)

3c. Underlines the fact that Member States should pursue differentiated strategies according to their bugetary situations and insists that Member States must keep their public expenditure growth below the rate of medium-term trend GDP growth;

Amendment 154 #

Motion for a resolution
Paragraph 4

Amendment 155 #

Motion for a resolution
Paragraph 4

4. BWel~~ieves that~~comes the recent debate on the size of the fiscal multiplier, notably following the IMF analysis on this matter in its latest World Economic Outlook, ~~has been unduly downplayed by the Commission, while a broad consensus has been emerging on this~~ but cautions that estimatter from recent theoretical and empirical work in the existing economic literature; considers this matter to be of central importance to policy-making, as wrong fiscal multipliers can lead to massive policy mistakess of fiscal multipliers are strongly dependent on assumptions and can at best provide partial case-by-case and country-specific policy guidance; calls on the Commission, t~~herefore, rapidly to open its macroeconomic modelling~~ o cooperate closely with other official and independandt forecasting ~~to serious and systematic scrutiny by independent institutes on a regular basi~~bodies on a regular basis in order to ensure the best possible accuracy in the interest of achieving adequate policy recommendations;

Amendment 156 #

Motion for a resolution
Paragraph 4

4. Believes that the recent debate on the size of the fiscal multiplier, notably following the IMF analysis on this matter in its latest World Economic Outlook, has been unduly downplayed by the Commission, while a broad consensus has been emergingCalls on the Commission to open its macroeconomic modelling and forecasting to serious and systematic scrutiny by independent institutes on a regular basis, while acknowledging that the estimations onf this matter from recent theoretical and empirical work in the existing economic literature; considers this matter to be of central importance to policy-making, as wrong fiscal multipliers can lead to massive policy mistakes; calls on the Commission, therefe size of fiscal multipliers provided by the IMF in its World Economic Outlook for October 2012 have proved to be severely flawed and insufficiently robust as the statistical test omitted to exclude the extreme outliers (Greece and Germany) and thus made fiscal multipliers seem more, r~~apidly to open its macroeconomic modelling and forecasting to serious and systematic scrutiny by independent institutes on a regular basis~~elevant for crisis management than when tested in accordance with established statistical methodology;

Amendment 157 #

Motion for a resolution
Paragraph 4

4. Believes that the recent debate on the size of the fiscal multiplier, notably following the IMF analysis on this matter in its latest World Economic Outlook, has been unduly downplayed by the Commission, while a broad consensus has been emerging on this matter from recent theoretical and empirical work in the existing economic literature; considers this matter to be of central importance to policy-making, as wrong fiscal multipliers ~~can~~estimations may lead to massive policy mistakes; ~~calls on the Commission, therefore, rapidly to open its macroeconomic modelling and forecasting to serious and systematic scrutiny by independent institutes on a regular basi~~welcomes therefore, the agreement reached in the two-pack negotiations on the full disclosure of the Member States and Commission models and assumptions underpinning macroeconomic forecasts and the scrutiny role provided to independent fiscal councils regarding these assumptions;

Amendment 158 #

Motion for a resolution
Paragraph 4

4. ~~Believes that~~Takes note of the recent debate on the size of the fiscal multiplier, notably following the IMF analysis on this matter in its latest World Economic Outlook, has been unduly downplayed by the Commission, while a broad consensus has been emerging on this matter from recent theoretical and empirical work in the existing economic literature; considers this matter to be of central importance to policy-making, as wrong fiscal multipliers can lead to massive policy mistak; considers this analysis to be relevant for policy-making but is very careful not to draw strong policy conclusions from it, as the calculations are highly dependent on outliers Greece and Germany and the results suggesting very large multipliers do not easily stand up to a different choice of countries or time period; underlines that other recent theoretical and empirical work in the existing economic literature, including work from the IMF, suggests that fiscal policy may be rather slow in impacting economic activity, which raises questions as to the usefulness of discretionary fiscal policy for short-run stabilization purposes; highlights moreover that fiscal stimulus may be counterproductive in highly-indebted countries; calls on the Commission, t~~herefore, rapidly to open its macroeconomic modelling and forecasting to serious and systematic scrutiny by independent institutes on a regular basis;~~ o increase transparancy on its methodologies for assessing the multiplier effect of public expenditure on GDP growth;

Amendment 159 #

Motion for a resolution
Paragraph 4

4. Believes that the recent debate on the size of the fiscal multiplier, notably following the IMF analysis on this matter in its latest World Economic Outlook, has ~~been unduly downplayed~~to bye t~~he Commission~~aken into account, while a broad consensus has been emerging on this matter from recent theoretical and empirical work in the existing economic literature; considers this matter to be of central importance to policy-making, as wrong fiscal multipliers can lead to massive policy mistakes; calls on the Commission, therefore, ~~rapidly to open its macroeconomic modelling and forecasting to serious and systematic scrutiny by~~to keep consulting independent institutes of economic studies on a regular basis;

Amendment 16 #

Motion for a resolution
Recital D

D. whereas the sharp deterioration of public deficits ~~and debt, which has been seen since~~between 2007 and 2009 in many Member States, has been triggered by the reaction of governments to the crisis~~, in the absence of European anticyclical instruments~~;

Amendment 160 #

Motion for a resolution
Paragraph 4

4. Believes that the recent debate on the size of the fiscal multiplier, notably following the IMF analysis on this matter in its latest World Economic Outlook, has been unduly downplayed by the Commission, while a broad consensus has been emerging on this matter from recenta broad consensus has been emerging on the need for fiscal consolidation as prerequisite for long term growth from theoretical and empirical work in the existing economic literature; considers this matter to be of central importance to policy-making, as wcro~~ng fiscal multipliers can lead to massive policy mistak~~wding out effects resulting from expansionary fiscal policies; ca~~lls on the Commission, therefore, rapidly to open its macroeconomic modelling and forecasting to serious and systematic scrutiny by independent institutes on a regular basis~~n lead to massive deterioration of investment decisions by the private sector;

Amendment 161 #

Motion for a resolution
Paragraph 5

5. Welcomes the recognition by the Commission of ‘a possible’ adjustment in the deadline for the correction of the excessive deficits as being justified, in full respect of the spirit and the letter of the Stability and Growth Pact; considers, however, that this recognition is already overdue;deleted

Amendment 162 #

Motion for a resolution
Paragraph 5

5. ~~Welcom~~Urges the recognition by the Commission of ‘a possible’ adjustment in the deadline for the correction of the excessive deficits as being justified, in full respect of the spirit and the letter of the Stability and Growth Pact; considers, however, that this recognition is already overdueMember States to respect the Stability and Growth Pact;

Amendment 163 #

Motion for a resolution
Paragraph 5

5. Welcomes the recognition by the Commission of ‘a possible’ adjustment in the deadline for the correction of the excessive deficits as being justified, in full respect of the spirit and the letter of the Stability and Growth Pact; ~~considers, however, that this recognition is already overdue;~~

Amendment 164 #

Motion for a resolution
Paragraph 5

5. ~~Welcom~~Acknowledges the recognition by the Commission ~~of ‘a possible’~~that an adjustment in the deadline for the correction of the excessive deficits ~~as being~~might be justified~~, in full respect of~~; emphasizes the importance of respecting both the spirit and the letter of the Stability and Growth Pact~~; considers, however, that this recognition is already overdue~~, as modified by the 'six-pack on economic governance';

Amendment 165 #

Motion for a resolution
Paragraph 5

5. ~~Welcom~~Notes the recognition by the Commission of ‘a possible’ adjustment in the deadline for the correction of the excessive deficits ~~as being justified~~, in full respect of the spirit and the letter of the Stability and Growth Pact; considers, however, that this ~~recognition is already overdue~~should only apply in very exceptional cases;

Amendment 166 #

Krišjānis KARIŅŠ

Motion for a resolution
Paragraph 5 a (new)

5a. Welcomes the recognition of the role of the single market and the necessity to tackle the many barriers still in place in the services sector; reminds that there is still a lot to do to achieve a truly single European market;

Amendment 167 #

Motion for a resolution
Paragraph 5 a (new)

5a. Notes that a change in the deadline will only be effective if it is used to promote economic growth and unemployment as the basis for a sustainable fiscal adjustment;

Amendment 168 #

Motion for a resolution
Paragraph 6

6. Calls on the Commission to reassess the Member States' situation in the light of the exceptional circumstances they are facing – ‘an unusual event outside the control of the [Member States] which has a major impact on the financial position of the general government or periods of severe economic downturn as set out in the revised SGP (…)’;deleted

Amendment 169 #

Motion for a resolution
Paragraph 6

Amendment 17 #

Motion for a resolution
Recital D

D. whereas the ~~sharp deterioration of~~ public deficits and debt~~, which has been seen since 2009~~ situation in many Member States, has ~~been triggered by the reaction of governments to the crisis, in the absence of European anticyclical instruments~~sharply deteriorated since 2009;

Amendment 170 #

Motion for a resolution
Paragraph 6

6. Calls on the Commission to reassess the Member States' situation in the light of the ~~exceptional~~ circumstances they are facing – ‘an unusual event outside the control of the [Member States] which has a major impact on the financial position of the general government or periods of severe economic downturn as set out in the revised SGP (…)’;

Amendment 171 #

Motion for a resolution
Paragraph 6

6. Calls on the Commission to re~~assess~~spect the Member States' situation in the light of the exceptional circumstances they are facing – ‘an unusual event outside the control of the [Member States] which has a major impact on the financial position of the general government or periods of severe economic downturn as set out in the revised SGP (…)’;

Amendment 172 #

Motion for a resolution
Paragraph 6

Amendment 173 #

Motion for a resolution
Paragraph 7

7. Calls on the Commission and the Council to ease the path of consolidation for Member States with excessive deficits due to exceptional circumstances while ensuring that ‘annual budgetary targets [...] are consistent with a minimum annual improvement of at least 0.5 % of GDP as a benchmark, in its cyclically adjusted balance net of one-off and temporary measures, in order to ensure the correction of the excessive deficit within the deadline set in the recommendation’, as formulated in the preventive arm of the SGP;deleted

Amendment 174 #

Motion for a resolution
Paragraph 7

7. Calls on the Commission and the Council to e~~ase the path of consolidation for Member States with excessive deficits due to exceptional circumstances while ensuring~~nsure that ‘annual budgetary targets [...] are consistent with a minimum annual improvement of at least 0.5 % of GDP as a benchmark, in its cyclically adjusted balance net of one-off and temporary measures, in order to ensure the correction of the excessive deficit within the deadline set in the recommendation’, as formulated in the preventive arm of the SGP;

Amendment 175 #

Motion for a resolution
Paragraph 7

Amendment 176 #

Motion for a resolution
Paragraph 7

7. Calls on the Commission and the Council to ~~eas~~continue the path of consolidation for Member States with excessive deficits ~~due to exceptional circumstances~~ while ensuring that ‘annual budgetary targets [...] are consistent with a minimum annual improvement of at least 0.5 % of GDP as a benchmark, in its cyclically adjusted balance net of one-off and temporary measures, in order to ensure the correction of the excessive deficit within the deadline set in the recommendation’, as formulated in the preventive arm of the SGP;

Amendment 177 #

Motion for a resolution
Paragraph 7

7. Calls on the Commission and the Council to ~~ease~~monitor the path of consolidation for Member States with excessive deficits due to exceptional circumstances while ensuring that ‘annual budgetary targets [...] are consistent with a minimum annual improvement of at least 0.5 % of GDP as a benchmark, in its cyclically adjusted balance net of one-off and temporary measures, in order to ensure the correction of the excessive deficit within the deadline set in the recommendation’, as formulated in the preventive arm of the SGP;

Amendment 178 #

Motion for a resolution
Paragraph 8

8. Calls on the Commission and the Council to balance productive public investment needs with fiscal discipline objectives by accommodating public investment programmes in its assessment of Stability and Convergence Programmes and excessive deficit procedures;deleted

Amendment 179 #

Motion for a resolution
Paragraph 8

8. Calls on the Commission and the Council to balance productive private and public investment needs with fiscal discipline ~~objectives by accommodating public investment programmes in its assessment of Stability and Convergence Programmes and excessive deficit procedures~~;

Amendment 18 #

Motion for a resolution
Recital D

D. whereas the sharp deterioration of public deficits and debt, which has been seen since 2009 in many Member States, has been triggered by the reaction of governments to the financial crisis, in the absence of European anticyclical instruments;

Amendment 180 #

Motion for a resolution
Paragraph 8

8. Calls on the Commission and the Council to balance productive public investment needs with fiscal discipline objectives by ~~accommodating public investment programmes~~taking into account growth enhancing investment in its assessment of Stability and Convergence Programmes ~~and excessive deficit procedures~~while fully respecting the provisions laid down in EU law;

Amendment 181 #

Motion for a resolution
Paragraph 8

8. Calls on the Commission and the Council to ~~balance productive~~attune targeted public investment ~~need~~programmes with fiscal ~~discipline objectives by accommodating public investment programmes in its assessment of Stability and Convergence Programmes and excessive deficit procedure~~consolidation objectives; considers that growth-friendly fiscal consolidation can simultaneously put public finances on a sustainable path and restore the confidence of investors;

Amendment 182 #

Motion for a resolution
Paragraph 8

8. Calls on the Commission and the Council to balance productive public investment needs with fiscal discipline objectives by a~~ccommodating~~ssessing carefully the public investment programmes in its assessment of Stability and Convergence Programmes and excessive deficit procedures;

Amendment 183 #

Motion for a resolution
Paragraph 8 a (new)

8a. Looks forward in that respect to the Commission report on the quality of public spending and the review of the scope for possible action within the boundaries of the EU framework regarding the qualification of investment programmes.

Amendment 184 #

Motion for a resolution
Paragraph 8 b (new)

8b. Recalls its demand that the consolidation strategy should also target the revenue side of the budgets of the Member States; insists that the necessary investments cannot in the current economic situation be financed solely by increased public debt; underlines therefore that investments must be financed by new, smart tax sources;

Amendment 185 #

Motion for a resolution
Paragraph 8 c (new)

8c. Stresses, in particular, that consolidation measures on the revenue side should be focused on decreasing tax expenditures that create unproductive niches or inefficient rent-seeking behaviours, on decreasing environmentally harmful subsidies, as well as on creating environmental taxes targeting the source of negative externalities and which can bring double dividends in so far as they improve the budgetary situation and help fulfilling the objectives set in the EU2020 strategy;

Amendment 186 #

Motion for a resolution
Paragraph 9

9. ~~Calls on the Commission to start developing as a matter of urgency a plan which would ensure that elements of fiscal discipline are in parallel followed up with concrete proposals on~~Believes that a firm commitment to sustainable fiscal discipline and structural reforms is the pre-requisite to solidarity among Member States an; welcomes the enhanced democratic legitimacy ~~as part of the Interinstitutional Agreement o~~within the European Semester;

Amendment 187 #

Motion for a resolution
Paragraph 9

9. Calls on the Commission to start developing as a matter of urgency ~~a plan which would~~ways to ensure that elements of fiscal discipline are in parallel followed up with concrete proposals on s~~olidarity among Member States and democratic legitimacy as part of the Interinstitutional Agre~~tructural reforms and encouraging both public and private investments that create elements o~~n the European Semester~~f growth;

Amendment 188 #

Motion for a resolution
Paragraph 9

9. Calls on the Commission to start developing as a matter of urgency a plan which would ensure that elements of fiscal discipline are in parallel followed up with concrete proposals on solidarity among Member States and democratic legitimacy as part of the Interinstitutional Agreement on the European Semesterensure that elements of fiscal discipline effectively in force;

Amendment 189 #

Motion for a resolution
Paragraph 9

9. Calls on the Commission to ~~start developing as a matter of urgency a plan which would ensure that elements of~~ensure that fiscal discipline ~~are~~is in parallel followed up with concrete proposals ~~on solidarity among Member States and democratic legitimacy as part of the Interinstitutional Agreement on the European Semester~~for structural reforms, in particular reforms which make labour markets more flexible, stimulate older workers to stay in employment longer, reduce youth unemployment by better matching the qualifications of young people to labour demand, combat labour market segmentation by better balanced employment protection legislation, improve the sustainability of pension systems, increase the efficiency of taxation systems, enhance competition in the services sector by removing unjustified restrictions on regulated trades and professions, liberalise certain industries, facilitate credit access, cut red tape, remove unnecessary layers of government, and combat tax evasion;

Amendment 19 #

Motion for a resolution
Recital D a (new)

Da. whereas the average public deficit for the euro area peaked in 2009 at 6.3 % and since then the trend has been reversed with average public deficits in 2010 at 6.2 %, in 2011 at 4.1 % and a further decrease in the first two quarters of 2012;

Amendment 190 #

Motion for a resolution
Paragraph 9

9. Calls on the Commission to start developing as a matter of urgency a plan which would ensure that elements of fiscal discipline are ~~in parallel~~ followed up with concrete proposals on ~~solidarity~~growth among Member States and democratic legitimacy as part of the Interinstitutional Agreement on the European Semester;

Amendment 191 #

Motion for a resolution
Paragraph 9 a (new)

9a. Urges the Comission to promote debt restructuring processes in the member- states under adjustment programmes and other member-states with unsustainable debt trajectories; underlines that these debt restructuring programmes can only provide a sufficient debt burden relief if they envolve official creditors, as well as private ones;

Amendment 192 #

Motion for a resolution
Paragraph 10

10. Calls on the Commission and the Council to ~~improve substantially~~adequatly revise and improve the quality, the national specificity and the adequacy of the country-specific recommendations~~, notably through a competent interpretation of the macroeconomic imbalances exercise~~;

Amendment 193 #

Motion for a resolution
Paragraph 10

10. Calls on the Commission and the Council to improve substantially the quality, the national specificity and the adequacy of the country-specific recommendations, notably through a competent interpretation of the macroeconomic imbalances exercise, including a symmetric approach to current account deficits and surpluses; Urges the Comission to engage in a more adequate assessment of the impacts of those recommendations on growth and of growth, or lack thereof, in fiscal adjustment;

Amendment 194 #

Motion for a resolution
Paragraph 10

10. Calls on the Commission and the Council to improve substantially the quality, the national specificity and the adequacy of the country-specific recommendations, notably through a comp~~etent~~rehensive interpretation and application of the macroeconomic imbalances exercise and by making sure the these recommendations are not merely repetition of the stability and convergence programmes;

Amendment 195 #

Motion for a resolution
Paragraph 10

10. Calls on the Commission and the Council to improve substantially the quality, the national specificity and the adequacy of the country-specific recommendations~~, notably through a competent interpretation of the macroeconomic imbalances exercise~~;

Amendment 196 #

Motion for a resolution
Paragraph 10

10. Calls on the Commission and the Council to ~~improve substantially~~further improve the quality, the national specificity and the adequacy of the country-specific recommendations~~, notably through a competent interpretation of the macroeconomic imbalances exercise~~;

Amendment 197 #

Motion for a resolution
Paragraph 10

10. Calls on the Commission and the Council to ~~improve substa~~work on continually improving the quality, the national specificity and the adequacy of the country-specific recommendations~~, notably through a competent interpretation of the macroeconomic imbalances exercise~~;

Amendment 198 #

Motion for a resolution
Paragraph 10

10. Calls on the Commission and the Council to ~~improve substantially the quality,~~keep on fine-tuning the national specificity and the adequacy of the country-specific recommendations~~, notably through a competent interpretation of the macroeconomic imbalances exercise~~;

Amendment 199 #

Motion for a resolution
Paragraph 10 a (new)

10a. Underlines that these recommendations defer significantly on their scope and quality from one Member State to another; believes that further proposals regarding the setting-up of standards and procedures for the elaboration and follow-up of NRP and CSRs would be welcomed in the framework of the Commission blueprint for a genuine EMU;

Amendment 2 #

Motion for a resolution
Recital A

A. whereas the Euro area as a whole is experiencing a ~~double-dip recession~~recession caused by sovereign debt and financial crisis;

Amendment 20 #

Motion for a resolution
Recital D a (new)

Da. whereas credible commitments to growth-friendly consolidation measures are a prerequisite for any sustainable solution of the excessive debt and deficit situation of most of the Member States;

Amendment 200 #

Olle LUDVIGSSON

Motion for a resolution
Paragraph 10 a (new)

10a. Is concerned by the Commission's tendency within the European Semester to infringe upon the autonomy of social partners, not least by urging Member States to restructure national systems for wage formation or to reduce national wage levels; stresses that this autonomy, protected inter alia in Articles 152 and 153(5) of the TFEU, is a key element of any well-functioning labour market and should therefore be respected;

Amendment 201 #

Motion for a resolution
Paragraph 10 a (new)

10a. Calls on the Commission to take into account the internal distribution of powers inside Member States in its country-specific recommendations, and to ensure that the sharing of the burden between administrations is proportionate to their expenditure relative weight.

Amendment 202 #

Motion for a resolution
Paragraph 10 a (new)

10a. Calls the Commission and the Council to ensure that investments in research, development and innovation are intensified and streamlined and the results are quickly turned by the public and private sectors in Europe into competitive advantage and increased productivity;

Amendment 203 #

Motion for a resolution
Paragraph 10 b (new)

10b. Calls the Commission and the Council to intensify efforts to reduce dependency on imports of energy and raw materials in order to create a more environmentally, economically and socially sustainable Europe;

Amendment 204 #

Motion for a resolution
Paragraph 11

11. Calls on the Member States to agree on a Multiannual Financial Framework (MFF) as a matter of urgency~~, ensuring that its role is reinforced as a source of much- needed investment~~;

Amendment 205 #

Motion for a resolution
Paragraph 11

11. Calls on the Member States to agree on a Multiannual Financial Framework (MFF) ~~as a matter of urgency, ensuring~~; considers in this respect that the structure of the EU budget is more important thatn its ~~role is reinforced as a source of much- needed investment~~size, and therefore that the EU could freeze or even reduce the MFF overall, while still investing in value-added areas;

Amendment 206 #

Motion for a resolution
Paragraph 11

11. Calls on the Member States to agree on a enhanced Multiannual Financial Framework (MFF) as a matter of urgency, ensuring that its role is reinforced as a source of much- needed long-term investment in sustainable growth enhancing and green job rich sectors and activities;

Amendment 207 #

Motion for a resolution
Paragraph 12

Amendment 208 #

Motion for a resolution
Paragraph 12

12. Calls on the ~~Commission and the Council to revise the recommended fiscal adjustment policies whenever economies move into recession,~~Member States to guarantee~~ing~~ minimum levels of social welfare, and to safeguard~~ing~~ basic labour rights ~~and avoiding a recessionary spiral; calls on the Commission and the Council to propose Union instruments for social protection and minimum social standards~~;

Amendment 209 #

Motion for a resolution
Paragraph 12

12. Calls on the Commission and the Council to revise the recommended ~~fiscal adjustment~~ policies whenever economies move into recession, guaranteeing minimum levels of social welfare, safeguarding basic labour rights and avoiding a recessionary spiral; ~~calls on the Commission and the Council to propose Union instruments for social protection and minimum social standards;~~

Amendment 21 #

Motion for a resolution
Recital D b (new)

Db. whereas the crisis underlines the crucial need to launch or complete needed structural reforms;

Amendment 210 #

Motion for a resolution
Paragraph 12

12. Calls on the Commission and the Council to ~~revise the recommended fiscal adjustment policies whenever economies move into recession,~~aim at guaranteeing minimum levels of social welfare, safeguarding basic labour rights and avoiding a recessionary spiral~~; calls on the Commission and the Council to propose Union instruments for social protection and minimum social standards~~ in the recommended adjustment policies whenever economies move into recession;

Amendment 211 #

Motion for a resolution
Paragraph 12

12. Calls on the Commission and the Council not to rdevi~~se the~~ate from recommended fiscal adjustment policies whenever economies move into recession, guaranteeing minimum levels of social welfare, safeguarding basic labour rights and avoiding a recessionary spiral; calls on the Commission and the Council to propose Union instruments for social protection and minimum social standardthe implementation of necessary labour market reforms and avoiding a recessionary spiral which could emerge from even higher fiscal deficits;

Amendment 212 #

Motion for a resolution
Paragraph 12

12. Calls on the Commission and the Council to revise the recommended fiscal adjustment policies whenever economies move into recession, guaranteeing minimum levels of social welfare, safeguarding basic labour rights and avoiding a recessionary spiral; calls on the Commission and the Council to propose Union instruments for social protection and minimum social standards calls on member States to implement diligently a Youth Guarantee scheme and more generally asks for the adoption of an overarching Social Pact as referred to in the 'Thyssen' report on the Genuine EMU;

Amendment 213 #

Motion for a resolution
Paragraph 12

12. Calls on the Commission and the Council to revise the recommended fiscal adjustment policies whenever economies move into recession, guaranteeing minimum levels of social welfare, safeguarding basic labour rights and avoiding a recessionary spiral; calls on the Commission and the Council to propose Union instruments for social protection and minimum social standards, focusing especially on women and disabled persons;

Amendment 214 #

Motion for a resolution
Paragraph 12 a (new)

12a. Urges the European Council to foster progress on the implementation of the Youth Guarantees in the European Semester process;

Amendment 215 #

Motion for a resolution
Paragraph 13

13. ~~Calls also on the Commission to come forward with a holistic approach to tackling growth, which should include a genuine Euro~~Highlights that protectionism would only deepean iand~~ustrial~~ prol~~icy and the guarantee that Europe will use all its strength and influence in its external trade relation~~ong the crisis; calls on the Commission to exploit ~~to the~~ fully the sources of growth stemming from trade with third countries ~~and establ~~; considers in thish re~~ciprocity as well as fair trade; calls on the Commission to include strong social clauses in trade agreements on the basis of International Labour Organisation labour standard~~spect in particular the full range of measures that can be taken to deepen and expand the Transatlantic economic relationship; such an agenda should encompass the related goals of renewing and opening the Transatlantic market, repositioning the Transatlantic partnership with regard to third countries to strengthening the ground rules of the international economic order, and extending the rule-based multilateral system to include new members and new areas of economic opportunities;

Amendment 216 #

Motion for a resolution
Paragraph 13

13. Calls also on the Commission to come forward with a holistic approach to ~~tackling~~ growth, which should include a ~~genuine European industrial policy and the~~ guarantee that Europe will use all its strength and influence in its external trade relations; calls on the Commission to exploit to the full the sources of growth stemming from trade with third countries and establish reciprocity as well as fair trade; ~~calls on the Commission to include strong social clauses in trade agreements on the basis of International Labour Organisation labour standards;~~

Amendment 217 #

Motion for a resolution
Paragraph 13

13. Calls also on the Commission to come forward with a holistic approach to tackling long term growth, which should include a genuine European industrial policy and the guarantee that Europe will use all its strength and influence in its external trade relations and the attractiveness for FDI; calls on the Commission to exploit to the full the sources of growth stemming from trade with third countries and establish reciprocity as well as fair trade; calls on the Commission to include strong social clauses in trade agreements on the basis of International Labour Organisation labour standards;

Amendment 218 #

Motion for a resolution
Paragraph 13

13. Calls also on the Commission to come forward with a holistic approach to tackling ~~growth~~sustainable growth and the EU2020 objectives, which should include a genuine European industrial policy and the guarantee that Europe will use all its strength and influence in its external trade relations; calls on the Commission to exploit to the full the sources of growth stemming from trade with third countries and establish reciprocity as appropriate as well as fair trade; calls on the Commission to include strong social clauses in trade agreements on the basis of International Labour Organisation labour standards and to take proper account of the overarching urgency to fight against climate change at all levels;

Amendment 219 #

Motion for a resolution
Paragraph 13

13. Calls also on the Commission to come forward with a holistic approach to tackling growth, which should include include completing the internal market, increasing competition and reducing a genuine European industrial policy and the guarantee that Europe will use all its strength and influence in its external trade relations; calls on the Commission to fully exploit ~~to the full~~ the sources of growth stemming from trade with third countries ~~and establish reciprocity as well as fair trade~~through speeding up the conclusion of ongoing free trade agreementswith Canada, Singapore, Malaysia and India, and launching negotiations with the EU major trading partners such as the USA and Japan; calls on the Commission to ~~include strong social~~continue to include clauses in trade agreements on the basis of International Labour Organisation labour standards;

Amendment 22 #

Motion for a resolution
Recital E

E. whereas the analysis of 2010 and 2011 statistics now clearly documents that the policy options taken caused a reversal of the mild recovery of 2010 resulting from the premature and massive tightening of fiscal policy, with contractionary effects across Member States that still persist;deleted

Amendment 220 #

Motion for a resolution
Paragraph 13

13. Calls also on the Commission to come forward with a holistic approach to tackling growth, which should include a genuine European industrial policy, a robust and adequately funded cohesion policy and the guarantee that Europe will use all its strength and influence in its external trade relations; calls on the Commission to exploit to the full the sources of growth stemming from trade with third countries and establish reciprocity as well as fair trade; calls on the Commission to include strong social clauses in trade agreements on the basis of International Labour Organisation labour standards;

Amendment 221 #

Andreas SCHWAB

Motion for a resolution
Paragraph 13 a (new)

13a. welcomes the first report on the State of the Single Market Integration 2013 accompanying and complementing the Annual Growth Survey; emphasises that the Single Market plays a key role in restoring the competitiveness of the Union and thereby leveraging economic growth and jobs; calls on the Commission and Member States to adequately address related deficiencies in the country-specific recommendations and to strengthen the continuous and regular assessment of the implementation and enforcement of Single Market provisions for an improved economic growth;

Amendment 222 #

Motion for a resolution
Paragraph 13 a (new)

13a. Is worried by the fact that many Member States are falling behind in terms of productivity; insists on the role of structural reforms in tackling this problem;

Amendment 223 #

Motion for a resolution
Paragraph 13 a (new)

13a. Believes that, to reap the full potential of the internal market, enhanced cooperation among Member States willing to follow the 'country of origin' principle of the initial draft of the Services Directive should be considered; suggests that, if this is not possible, a services impact test based on the Regulatory Impact Assessment methodology should be adopted in order to provide a thorough screening of relevant national legislations in terms of their necessity, suitability, and proportionality.

Amendment 224 #

Motion for a resolution
Paragraph 13 b (new)

13b. Underlines that strong enforcement of an EU competition policy based on the principles of open markets and a level playing field in all sectors is a cornerstone of a successful internal market and a precondition for the creation of sustainable and knowledge-based jobs;

Amendment 225 #

Motion for a resolution
Paragraph 14

~~14. Stresses that determined efforts by Member States to sustain public finances, at an appropriate pace, can only work if macroeconomic imbalances are reduced symmetrically;~~deleted

Amendment 226 #

Motion for a resolution
Paragraph 14

~~14. Stresses that determined efforts by Member States to sustain public finances, at an appropriate pace, can only work if macroeconomic imbalances are reduced symmetrically;~~deleted

Amendment 227 #

Motion for a resolution
Paragraph 14

~~14. Stresses that determined efforts by Member States to sustain public finances, at an appropriate pace, can only work if macroeconomic imbalances are reduced symmetrically;~~deleted

Amendment 228 #

Motion for a resolution
Paragraph 14

14. Stresses that determined efforts by Member States to sustain public finances, at an appropriate pace, can only work if macroeconomic imbalances are reduced symmetrically; Notes that these objectives can only be achieved simultaneously through growth in the eurozone as a whole, and demand expanding policies in surplus countries;

Amendment 229 #

Motion for a resolution
Paragraph 14

14. Stresses that determined efforts by Member States ~~to sustain public finances, at an appropriate pace, can only work if macroeconomic imbalances are reduced symmetricall~~are needed to consolidate public finances and reduce macroeconomic imbalances; notes as for the latter that countries with current account deficits need to step up structural reforms to increase their competitiveness as a matter of urgency;

Amendment 23 #

Motion for a resolution
Recital E

Amendment 230 #

Motion for a resolution
Paragraph 14

14. Stresses that determined efforts by Member States to sustain public finances, at an appropriate pace, can only work if macroeconomic ~~imbalance~~deficits are reduced ~~symmetrically~~;

Amendment 231 #

Motion for a resolution
Paragraph 14

14. Stresses that determined efforts by Member States to sustain public finances, at an appropriate pace, can only work if excessive macroeconomic imbalances are reduced ~~symmetrically~~by the countries with excessive deficits;

Amendment 232 #

Motion for a resolution
Paragraph 14

14. Stresses that determined efforts by Member States to sustain public finances, at an appropriate pace, can only work if excessive macroeconomic imbalances are reduced ~~symmetrically~~;

Amendment 233 #

Motion for a resolution
Paragraph 14 a (new)

14a. Takes note of the addition of a new indicator to the scoreboard for macroeconomic imbalances regarding the financial sector; deplores that the Commission did not respect the procedure foreseen in the Regulation (EU) No 1176/2011 according to which: "the Commission should closely cooperate with the European Parliament and the Council when drawing up the scoreboard and the set of macroeconomic and macrofinancial indicators for Member States" and more specifically according to which the Commission should present suggestions for comments to the competent committees of the European Parliament and of the Council on plans to establish and adjust the indicators and thresholds";

Amendment 234 #

Motion for a resolution
Paragraph 14 b (new)

14b. Points out that besides procedural issues involved it is not unequivocally clear that from among a number of financial sector indicators possible, this specific indicator is the best choice. E.g. the ESRB opinion of December 2011 seems to argue against this kind of leverage based financial indicator as chosen by the Commission;

Amendment 235 #

Motion for a resolution
Paragraph 14 c (new)

14c. Reminds the Commission that in order to build interinstitutional trust and a high quality economic dialogue it is of paramount importance to respect the procedure foreseen in Regulation (EU) No 1176/2011 more faithfully in the future;

Amendment 236 #

Motion for a resolution
Paragraph 14 d (new)

14d. Calls on the Commission to add social indicators into the scoreboard for the correction of macro-economic imbalances such as income inequality and labour market participation; as well as indicators on resource efficiency and productivity;

Amendment 237 #

Motion for a resolution
Paragraph 14 e (new)

14e. Regrets that the threshold retained so far regarding on current account (+6%, - 4%) abolish the principle of symmetry and openly favours on an ex ante basis Member States with current account surpluses;

Amendment 238 #

Motion for a resolution
Paragraph 14 f (new)

14f. Is of the opinion that the current focus on unit labour costs should be calibrated and refined so as to provide more granularity given that unit labour costs calculated with aggregate data are not just a weighted average of the firms' unit labour costs; point out that it may well be that profit rates grow (fall) faster (more slowly) than capital productivity with a consequent increase in unit capital costs, hence also reducing competitiveness;

Amendment 239 #

Motion for a resolution
Paragraph 14 g (new)

14g. Point out that the statistical data shows clear evidence that capital productivity has experienced a clear downward trend across the EU over the last decade affecting therefore negatively competitiveness; deems therefore that it would be appropriate to add an indicator on unit capital costs to the scoreboard on macroeconomic imbalances;

Amendment 24 #

Motion for a resolution
Recital E

E. whereas the analysis of 20101 and 20112 statistics now clearly documents that the policy options taken ~~caused a reversal of the mild recovery of 2010 resulting from the premature and massive tightening of fiscal policy, with contractionary effects across Member States that still persist~~give evidence for a mild recovery and a decrease in interest rates in the bond market in the following years; whereas short run contractionary effects will be offset by sustainable growth and confidence on the markets due to the consolidation of fiscal policy;

Amendment 240 #

Motion for a resolution
Paragraph 14 h (new)

14h. Points out that aggregate unit labour costs reflect the distribution of income between wages and profits which has overall implications in regarding aggregate demand; notes in that respect that no lower threshold has been retained so far for unit labour costs in the scoreboard for macroeconomic imbalances; deems that such a lower threshold would be appropriate if he objective is to survey whether wages evolve in line with productivity;

Amendment 241 #

Motion for a resolution
Paragraph 15

15. Calls on the Commission and the Council to act ~~quick~~thoroughly in order to give real substance and effectiveness to the Compact for Growth and Jobs as agreed at the European Council of June 28-29 2012;

Amendment 242 #

Motion for a resolution
Paragraph 15 a (new)

15a. Calls on the European Parliament to adopt quickly the so-called "2-pack";

Amendment 243 #

Motion for a resolution
Paragraph 15 a (new)

15a. Calls on the Council and participating Member States to complete the ratification procedures for the Treaty on Stability, Coordination and Governance (Fiscal Compact) as quickly as possible;

Amendment 244 #

Motion for a resolution
Paragraph 15 a (new)

15a. Calls on the Commission to step up enforcement of the implementation of internal market legislation; urges Member States to fully implement internal market legislation, particularly the Services Directive;

Amendment 245 #

Sylvie GOULARD

Motion for a resolution
Paragraph 16

16. ~~Calls on the Commission to present concrete proposals to improve~~welcomes the "Action Plan to strengthen the fight against tax fraud and tax evasion", ~~including in relation to third countries, as an essential tool for a fairer distribution of the fiscal effort and for increasing~~the recommendations on "measures intended to encourage third countries to apply minimum standards of good governance in tax matters" and on "aggressive tax planning" adopted by the Commission on 6 December 2012; supports the proactive stance taken by the Commission and in particular by the Commissioner for Taxation, Customs, Anti-fraud, Audit and Statistics; will carefully monitor the follow-up actions of the Commission and the Member States' re~~venue~~sulting from these texts;

Amendment 246 #

Motion for a resolution
Paragraph 16

16. ~~Calls on~~Welcomes the Commission ~~to present concrete proposals to improve~~'s Action Plan to strengthen the fight against tax fraud and tax evasion~~, including in relation to third countries, as an essential tool for a~~; calls on the Member States to follow up on Commission's recommendations, take immediate and coordinated action against tax havens and aggressive tax planning and thus guarantee fairer distribution of the fiscal effort and ~~for~~ increas~~ing~~ed Member States' revenue;

Amendment 247 #

Motion for a resolution
Paragraph 16

16. Calls on the Commission to present a Tax Pact including inter alia concrete proposals to improve the fight against tax fraud and tax evasion as well as tax planning, including in relation to third countries, ~~as an essential~~deems that such measures would be key tools for a fairer distribution of the fiscal effort and for increasing Member States' revenue;

Amendment 248 #

Motion for a resolution
Paragraph 16

16. Calls on the Commission to present concrete proposals to improve the fight against tax fraud and tax evasion, including in relation to third countries~~, as an essential tool for a fairer distribution of the fiscal effort and for increasing Member States' revenue~~;

Amendment 249 #

Sylvie GOULARD

Motion for a resolution
Paragraph 16 a (new)

16 a. considers positive that finally "all Member States recognise the importance of taking effective steps to fight tax evasion and fraud, also in times of budgetary constraints and of economic crisis" as stated in the conclusions of the Economic and Monetary affairs Council of 13 November 2012;

Amendment 25 #

Motion for a resolution
Recital E

E. whereas the analysis of 2010 and 2011 statistics now clearly documents that the policy options taken ~~caused~~strongly contributed to a reversal of the mild recovery of 2010 resulting from the premature and massive tightening of fiscal policy in combination with the ongoing deleveraging process, with contractionary effects across Member States that still persist;

Amendment 250 #

Motion for a resolution
Paragraph 17

17. Calls on the Commission and the Council to engage urgently in the creation of appropriate mechanisms for the common management of sovereign debt in order to alleviate the debt burden on several Member States and to create the conditions for a future joint issuance setting a limit to the divergence of sovereign financing costs;deleted

Amendment 251 #

Markus FERBER

Motion for a resolution
Paragraph 17

Amendment 252 #

Motion for a resolution
Paragraph 17

Amendment 253 #

Motion for a resolution
Paragraph 17

Amendment 254 #

Motion for a resolution
Paragraph 17

Amendment 255 #

Motion for a resolution
Paragraph 17

Amendment 256 #

Motion for a resolution
Paragraph 17

17. Calls on the Commission and the Council to ~~engage urgently in the~~finally clarify that a creation of ~~appropriate~~ mechanisms for the common management of sovereign debt ~~in order to alleviate the debt burden on several Member St~~would be in breach of the existing treaties and ~~to create the conditions for a future joint issuance setting a limit to the divergence of sovereign financing costs~~would aggravate the crisis by increasing moral hazard and thus uncertainty; calls thus on the Commission and Council to give up plans for a future joint issuance of debt;

Amendment 257 #

Motion for a resolution
Paragraph 17

17. Calls on the Commission and the Council to engage urgently in the creation of a~~ppropriate mechanisms for the common management~~ debt redemption fund based ofn s~~overeign debt~~rict conditionality in order to alleviate the debt burden on several Member States ~~and to create the conditions for a future joint issuance setting a limit to the divergence of sovereign financing costs~~;

Amendment 258 #

Motion for a resolution
Paragraph 17 a (new)

17a. Underlines the importance of national ownership of and responsibility for the structural and budgetary reform processes undertaken by Member States; highlights that the long-term success of these processes is crucially dependent on national politicians' ability to anchor the necessary decisions among constituents and that such anchoring cannot be substituted by arrangements with community bodies, neither as regards the implementation thereof;

Amendment 259 #

Motion for a resolution
Paragraph 17 a (new)

17a. Calls on the Commission and Council to enter into an Interinstitutional Agreement with the Parliament in order to give the Parliament a full role in the drafting and approval of the Annual Growth Survey and the Economic Policy and Employment Guidelines;

Amendment 26 #

Motion for a resolution
Recital E

E. whereas the analysis of 2010 and 2011 statistics now clearly documents that the ~~policy options taken caused a~~ reversal of the mild recovery of 2010 result~~ing~~ed from the ~~premature and massive tightening of fiscal policy, with contractionary effects across Member States that still persist~~fact that postponing the effects of the deep crisis could not be continued by massive allocation of public money, but the negative effects had to be met and necessary restructuring of economies needed to be faced;

Amendment 260 #

Motion for a resolution
Paragraph 17 a (new)

17a. shares the assessment of the Commission in its blueprint and calls on the Commission and the Council to commit to a concrete and timely bound roadmap to achieve the objectives as set out in the blueprint;

Amendment 261 #

Motion for a resolution
Paragraph 17 b (new)

17b. Remembers that the purpose of common legislation on Member States' fiscal frameworks is to make sure Member States stay committed to the rules commonly agreed upon and not to specify the policy choices of a Member State;

Amendment 262 #

Motion for a resolution
Paragraph 17 b (new)

17b. Recalls its invitation to the Commission to publish its methodology underpinning the assessment of the structural balances of the Member States, as well as the changes introduced in this methodology since 2008 and the impact of those changes in the assessment of the structural balances of the Member States;

Amendment 263 #

Motion for a resolution
Paragraph 17 c (new)

17c. Calls on the Member States to ensure that negative effects of fiscal consolidation on gender equality, female employment and poverty are reversed by adopting a gender mainstreaming approach in national budgets, addressing stronger gender-specific recommendations to Member States, and disaggregating the EU 2020 headline targets and the corresponding national targets by gender.

Amendment 264 #

Motion for a resolution
Annex - Part 1 – paragraph 1

RECOMMENDATION 1 CONCERNING AN ALTERNATIVE STRATEGY The European Parliament considers that the yearly policy guidance to be adopted by the European Council on the basis of the AGS should aim to: The Commission and the Council should adopt a new six-fold alternative strategy as set out below: 1. The fiscal consolidation should be delayed and spread in due respect of current EU fiscal rules. Instead of nearly 130 billion euros of consolidation effort for the whole euro area, a more balanced fiscal consolidation of 0.5 point of GDP, in accordance with treaties, the SGP and even the fiscal compact , would give for 2013 alone a concrete margin for manoeuvre of more than 85 billion euros. By merely delaying and capping the path of consolidation, the average growth for the Eurozone between 2013 and 2017 may be improved by 0.7 point per year. 2. The speculation on the sovereign debt of Member states must be stopped. The European Stability Mechanism (ESM) must be brought as soon as possible into the community management structure with the ECB as a backstop; 3. The persistent and long-lasting cumulative imbalances that have been increasing throughout the functioning of the common currency due to the asymmetric impact of common policies across different economies need to be adequately addressed through specific convergence instruments to foster the competitiveness of lagging economies, in particular by increasing the conditions for growth-enhancing investment in the latter. 4. Lending by the European Investment Bank must be significantly increased as well as other measures (notably the use of structural funds and project bonds), so as to genuinely advance the European Union growth agenda. The Compact for Growth and Jobs has to be urgently transformed into concrete investments. 5. Legal initiatives and policy instruments have to be implemented so that credit flow to the real economy is re-established. Companies, especially SMEs, need to have access to financing and the conditions for such financing should be similar inside the Internal Market, more so inside the eurozone. 6. A close coordination of economic policies must aim at reducing internal imbalances in the EU and in the Eurozone in particular. The adjustment must not only rely on deficit countries. Surplus countries must also take measures to boost their internal demand and receive recommendations from the Commission accordingly.deleted

Amendment 265 #

Motion for a resolution
Annex - Part 1 – title

RECOMMENDATION 1 CONCERNING ~~AN ALTERNATIVE~~THE EXISTING STRATEGY

Amendment 266 #

Motion for a resolution
Annex - Part 1 – title

RECOMMENDATION 1 CONCERNING ~~AN ALTERNATIVE~~GROWTH-ENHANCING STRATEGYIES

Amendment 267 #

Motion for a resolution
Annex - Part 1 – title

RECOMMENDATION 1 CONCERNING A~~N ALTERNATIVE STRATEGY~~ STRATEGY FOR GROWTH- FRIENDLY FISCAL CONSOLIDATION

Amendment 268 #

Motion for a resolution
Annex - Part 1 – introductory paragraph

~~The Commission and the Council should adopt a new six-fold alternative strategy as set out below:~~deleted

Amendment 269 #

Motion for a resolution
Annex - Part 1 – introductory paragraph

The Commission and the Council should ~~adopt a new six-fold alternative strategy as set out below~~prioritize the following strategies:

Amendment 27 #

Motion for a resolution
Recital E

E. whereas the analysis of 2010, 2011 and 20112 statistics now clearly documents that the policy options taken caused a reversal of the mild recovery of 2010 resulting from the premature and massive tightening of fiscal policy, with contractionary effects across Member States that still persist;

Amendment 270 #

Motion for a resolution
Annex - Part 1 – introductory paragraph

The Commission and the Council should ~~adopt a new six-fold alternative strategy~~consider the following as set out below:

Amendment 271 #

Motion for a resolution
Annex - Part 1 – paragraph 1

Amendment 272 #

Motion for a resolution
Annex - Part 1 – paragraph 1

1. The fiscal consolidation ~~should be delayed and sp~~agreaed in due respect of current EU fiscal rules. Instead of nearly 130 billion euros of consolidation effort for the whole euro area, a more balanced fiscal consolidation of 0.5 point of GDP, in accordance with treaties, the SGP and even the fiscal compact , would give for 2013 alone a concrete margin for manoeuvre of more than 85 billion euros. By merely delaying and capping the path of consolidation, the average growth for the Eurozone between 2013 and 2017 may be improved by 0.7 point per yat EU level should be implemented by the Member States in order to restore confidence in the sustainability of public finances in the Euro arear.

Amendment 273 #

Motion for a resolution
Annex - Part 1 – paragraph 1

1. The fiscal consolidation should not be delayed and spread by any circumstances in due respect of current EU fiscal rules. Instead of nearly 130 billion euros of consolidation effort for the whole euro area, a more balanced fiscal consolidation of 0.5 point of GDP, in accordance with treaties, the SGP and even the fiscal compact , would give for 2013 alone a concrete margin for manoeuvre of more than 85 billion euros. By merelyBy merely delaying the path of consolidation, the average growth for the Eurozone may be delay~~ing~~ed and ~~capping the path of consolidation, the average growth for the Eurozone between 2013 and 2017 may be improved by 0.7 point per year~~decreased due to the impossibility of fostering sustainable growth through expansive fiscal policy.

Amendment 274 #

Pablo ZALBA BIDEGAIN

Motion for a resolution
Annex - Part 1 – paragraph 1

1. The fiscal consolidation should be delayed and spread in due respect of current EU fiscal rules. Instead of nearly 130 billion euros of consolidation effort for the whole euro area, a more balanced fiscal consolidation of 0.5 point of GDP, in accordance with treaties, the SGP and evenprogrammes should be pursued in order to guarantee the sustainability of public finances, but it has to continue in a proportional and growth-friendly way. The rhythm of consolidation has to be differentiated across countries according to their fiscal compact, would give for 2013 alone a concrete margin for manoeuvre of more than 85 billion euros. By merely delaying and capping the path of consolidation, the average growth for the Eurozone between 2013 and 2017 may be improved by 0.7 point per yearspace to reach the right balance between potential negative growth and employment effects and the risks to debt sustainability.

Amendment 275 #

Motion for a resolution
Annex - Part 1 – paragraph 1

1. The fiscal consolidation should be ~~delayed and~~ spread in due respect of current EU fiscal rules. Instead of nearly 130 billion euros of consolidation effort for the whole euro area, a more balanced fiscal consolidation of 0.5 point of GDP, in accordance with treaties, the SGP and even the fiscal compact, would give for 2013 alone a concrete margin for manoeuvre of more than 85 billion euros. By merely delaying and capping the path of consolidation, the average growth for the Eurozone between 2013 and 2017 may be improved by 0.7 point per year.

Amendment 276 #

Motion for a resolution
Annex - Part 1 – paragraph 1a (new)

1a. Maintain the pace of fiscal consolidation, particularly with regard to restoring confidence of investors, to reducing debt refinancing costs and to creating fiscal room for pro-active policy implementation.

Amendment 277 #

Motion for a resolution
Annex - Part 1 – paragraph 1b (new)

1b. Prioritise investments in education, research and innovation.

Amendment 278 #

Motion for a resolution
Annex - Part 1 – paragraph 1 c (new)

1c. Modernise social protection systems, particularly with regard to pensions and the alignment of the retirement age with life expectancy.

Amendment 279 #

Motion for a resolution
Annex - Part 1 – paragraph 1 d (new)

1d. Pursue active labour market policies, particularly by introducing flexicurity schemes.

Amendment 28 #

Motion for a resolution
Recital E a (new)

E a. whereas expansionary fiscal policies have caused significant and severe crowding out effects with strong negative effects on growth;

Amendment 280 #

Motion for a resolution
Annex - Part 1 – paragraph 1 e (new)

1e. Shift taxes from labour to consumption.

Amendment 281 #

Motion for a resolution
Annex - Part 1 – paragraph 2

2. ~~The speculation on the sovereign debt of Member states must be stopped. T~~Integrate the European Stability Mechanism (ESM) ~~must be brought as soon as possible~~ into the community management structure ~~with the ECB as a backstop~~;

Amendment 282 #

Motion for a resolution
Annex - Part 1 – paragraph 2

2. The speculation on the sovereign debt of Member states ~~must~~can only be stopped~~. The European Stability Mechanism (ESM) must be b~~ by reducing uncertainty and improving investor confidence throught a~~s soon as possible into the community management structure with the ECB as a backstop~~ clear commitment to fiscal consolidation and adequate policies;

Amendment 283 #

Motion for a resolution
Annex - Part 1 – paragraph 2

2. ~~The speculation on the sovereign debt of Member states must be stopped.~~ The European Stability Mechanism (ESM) must be brought as soon as possible into the community management structure ~~with the ECB as a backstop~~; The reformed crisis management mechanisms should substantially curb harmful speculation on distressed sovereign debt in the euro area.;

Amendment 284 #

Motion for a resolution
Annex - Part 1 – paragraph 2

2. The ~~speculation~~unsustainable spreads on the sovereign debt of Member sStates must be stopped. The European Stability Mechanism (ESM) must be brought as soon as possible into the community management structure with the ECB as a backstop;

Amendment 285 #

Motion for a resolution
Annex - Part 1 – paragraph 3

3. The persistent and long-lasting cumulative imbalances that have been increasing throughout the functioning of the common currency due to the asymmetric impact of common policies across different economies need to be adequately addressed through specific convergence instruments to foster the competitiveness of lagging economies, in particular by increasing the conditions for growth-enhancing investment in the latter.deleted

Amendment 286 #

Motion for a resolution
Annex - Part 1 – paragraph 3

Amendment 287 #

Motion for a resolution
Annex - Part 1 – paragraph 3

3. The persistent and long-lasting cumulative imbalances that have been increasing throughout the functioning of the common currency ~~due to the asymmetric impact of common policies across different economies~~ need to be adequately addressed through specific convergence instruments to foster ~~the~~ competitiveness ~~of lagging economies~~, in particular by increasing the conditions for growth-enhancing investment ~~in the latter~~.

Amendment 288 #

Annex - Part 1 – paragraph 3

3. The persistent and long-lasting cumulative imbalances that have been increasing throughout the functioning of the common currency due to the asymmetric impact of shocks and common policies across different economies need to be adequately addressed through specific convergence Community instruments and targets to foster the sustainability and competitiveness of ~~lagging~~EU economies, in particular by i~~ncreas~~mproving the conditions for triggering investments in sustainable growth- enhancing ~~investment in the latter~~and green job rich sectors and activities.

Amendment 289 #

Motion for a resolution
Annex - Part 1 – paragraph 4

4. Lending by the European Investment Bank must be significantly increased as well as other measures (notably the use of structural funds and project bonds), so as to genuinely advance the European Union growth agenda. The Compact for Growth and Jobs has to be urgently transformed into concrete investmentsIncrease the lending capacity of the European Investment Bank.

Amendment 29 #

Motion for a resolution
Recital F

F. whereas the Commission forecasts for 2012 have been successively revised downwards from 1.8 % in spring 2011 to - 0.4 % in autumn 2012 for 2012; whereas in its autumn forecasts the Commission predicts a GDP growth of a mere 0.1 % for 2013; whereas the~~re are ser~~ calculatiouns ~~doubts as to the accuracy of these 2013 forecasts, since they are likely to be based on an underestimated fiscal multiplier, thereby underestimat~~of the size of fiscal multipliers performed by the IMF in its World Economic Outlook for October 2012, which have been widely spread ing the ~~negative effect of current fiscal contrac~~debate on budgetary consolidation oin ~~economic growth~~Europe, proved to be severely flawed and insufficiently robust;

Amendment 290 #

Motion for a resolution
Annex - Part 1 – paragraph 4

4. Lending by the European Investment Bank ~~must be significantly~~should be increased as well as other measures (notably the use of structural funds ~~and project bonds~~), so as to genuinely advance the European Union growth agenda. The Compact for Growth and Jobs ~~has to be urgently transformed into concrete invest~~should be implementsed.

Amendment 291 #

Motion for a resolution
Annex - Part 1 – paragraph 4

4. Lending by the European Investment Bank ~~must be significantly increased as well as other measures (notably the use of structural funds and project bonds)~~can only be increased under the binding constraint of maintaining its AAA-Rating, so as to genuinely advance the European Union growth agenda. The Compact for Growth and Jobs has to be ~~urgent~~thoroughly transformed into concrete and effective investments.

Amendment 292 #

Motion for a resolution
Annex - Part 1 – paragraph 4

4. Lending by the European Investment Bank so as to target sustainable growth enhancing and green job rich sectors and activities must be significantly increased as well as other measures (notably the use of structural funds and project bonds), so as to genuinely advance the European Union growth agenda. The Compact for Growth and Jobs has to be urgently transformed into concrete investments.

Amendment 293 #

Motion for a resolution
Annex - Part 1 – paragraph 5

5. Legal initiatives and policy instruments have to be implemented so that credit flow to the real economy is re-established. Companies, especially SMEs, need to have access to financing and the conditions for such financing should be similar inside the Internal Market, more so inside the eurozoneImprove credit flow to the real economy especially for SMEs.

Amendment 294 #

Motion for a resolution
Annex - Part 1 – paragraph 5

5. Legal initiatives and policy instruments have to be implemented ~~so that~~convincingly so that trust and uncertainty will be restored and credit flow to the real economy is re- established. Companies, especially SMEs, need to have access to financing and the conditions for such financing should be similar inside the Internal Market, more so inside the eurozone.

Amendment 295 #

Motion for a resolution
Annex - Part 1 – paragraph 5

5. Legal initiatives and policy instruments have to be diligently implemented so that credit flow to the real economy is re- established. Companies, especially SMEs, need to have access to financing and the conditions for such financing should be similar inside the Internal Market, more so inside the eurozone.

Amendment 296 #

Motion for a resolution
Annex - Part 1 – paragraph 6

6. ~~A close coordination of economic policies must aim at reducing~~Reduce excessive internal imbalances in the EU and in the Eurozone in particular. ~~The adjustment must not only rely on deficit countries. Surplus countries must also take measures to boost their internal demand and receive recommendations from the Commission accordingly.~~

Amendment 297 #

Motion for a resolution
Annex - Part 1 – paragraph 6

6. A close coordination of economic policies must aim at reducing excessive internal imbalances in the EU and in the Eurozone in particular. ~~The adjustment must not only rely on deficit countries. Surplus countries must also take measures to boost their internal demand and receive recommendations from the Commission accordingly.~~

Amendment 298 #

Motion for a resolution
Annex - Part 1 – paragraph 6

6. A close coordination of economic policies must aim at reducing internal imbalances in the EU and in the Eurozone in particular. The adjustment must ~~not~~ only rely on deficit countries~~. Surplus countries must also take measures to boost their internal demand~~ since there are positive spill-over effects of structural reforms across the European Union which should not be dampened. Successful policies in surplus countries cannot be held responsible for inefficient fiscal and rec~~eive recommendations from the Commission accordingly~~onomic policies in other Member States in the past.

Amendment 299 #

Motion for a resolution
Annex - Part 1 – paragraph 6

6. A close coordination of economic policies must aim at reducing internal imbalances including the continuous downward trend in capital productivity in the EU and in the Eurozone in particular. The adjustment must not only rely on deficit countries. Surplus countries must also take measures to boost their internal demand and receive recommendations from the Commission accordingly.

Amendment 3 #

Motion for a resolution
Recital A a (new)

Aa. whereas financial market liberalisation and de-regulation of key industries has contributed to the most severe economic crisis since World War Two;

Amendment 30 #

Motion for a resolution
Recital F

Amendment 300 #

Motion for a resolution
Annex - Part 1 – paragraph 6a (new)

6a. A deeper coordination of economic policy should also address the continuous downward trend in capital productivity by a set of policy instruments aiming at increasing capital productivity and a proper surveillance of capital productivity developments. As a complement for a more granular surveillance of Unit Labour Costs it is therefore critical to survey Unit Capital Costs.

Amendment 301 #

Motion for a resolution
Annex - Part 2 – paragraph 1

~~Reiterates the need to fully - involve Parliament – the only supranational European institution with electoral legitimacy –~~Involve Parliament in economic policy coordination and in the Annual Growth Survey.

Amendment 302 #

Motion for a resolution
Annex - Part 2 – paragraph 1

Reiterates the need to ~~fully~~ involve Parliament ~~– the only supranational European institution with electoral legitimacy –~~ in economic policy coordination and in the Annual Growth Survey;

Amendment 303 #

Motion for a resolution
Annex - Part 2 – paragraph 2

Recalls that the European Parliament must be recognised as the appropriate European democratic forum for providing an overall evaluation at the end of the European Semester; believes that, as a sign of this recognition, representatives of the EU institutions and the economic bodies involved in the process should provide information to the European Parliament ~~when asked to do so; demands that the EP democratic control be enshrined in the Inter Institutional Agreement on the European Semester~~on a regular basis.

Amendment 304 #

Motion for a resolution
Annex - Part 3 – paragraph 1

Using consistently credible sources the resulting estimate of tax evasion and tax avoidance in the European Union reaches approximately €1 trillion a year. Tackling both tax avoidance and tax evasion is possible only if Member States are willing to consistently implement actions that build on introducing: country-by-country reporting, a Common Consolidated Corporate Tax Base, a thorough accounting reform, a change in corporate accounting disclosure for tax purposes, more investment in tax audits staff and an upgrade and extension of the European Union Savings Tax Directive.deleted

Amendment 305 #

Motion for a resolution
Annex - Part 3 – paragraph 1

Amendment 306 #

Motion for a resolution
Annex - Part 3 – paragraph 1

Using consistently credible sources the resulting estimate of tax evasion and tax avoidance in the European Union reaches approximately €1 trillion a year. Thus, the current tax gap in the EU represents a scandalous loss of public revenue, a threat to proper functioning of the Single Market and a dent to the efficiency and fairness of tax systems within the EU. Tackling both tax avoidance and tax evasion is possible only if Member States are willing to consistently implement actions that build on introducing: country- by-country reporting, a Common Consolidated Corporate Tax Base, a thorough accounting reform, a change in corporate accounting disclosure for tax purposes, an elimination of aggressive tax planning practices, a closure of double taxation loopholes, more investment in tax audits staff and an upgrade and extension of the European Union Savings Tax Directive.

Amendment 307 #

Motion for a resolution
Annex - Part 3 – paragraph 2

The Commission presented an action plan on tax fraud, tax evasion and tax havens; this new focus must be unanimously embraced by Member States with a view to agree on an ambitious while realistic headline target: halving the tax gap by 2020. By moving towards this target, member states would gradually achieve new tax revenue without raising tax rates at the level of several hundred billion € a year.deleted

Amendment 308 #

Motion for a resolution
Annex - Part 3 – paragraph 2

The Commission -presented ~~an a~~Action plan onto strengthen the fight against tax fraud, and tax evasion ~~and~~represents a belated but certainly welcomed step forward to tackle tax hav~~ens~~oidance on EU level; this new focus must now be unanimously embraced by Member States with a view to agree on an ambitious while realistic headline target: halving the tax gap by 2020. By moving towards this target, member states would gradually achieve new tax revenue without raising tax rates at the level of several hundred billion € a year.

Amendment 309 #

Motion for a resolution
Annex - Part 3 – paragraph 3

~~The Commission and the Council must act on the following five key issues:~~deleted

Amendment 31 #

Motion for a resolution
Recital F

Amendment 310 #

Motion for a resolution
Annex - Part 3 – paragraph 3

The Commission and the Council must act on the following five key issues: 1. Reforming the accounting rules and corporate accounting disclosure 2. Upgrading and extending the scope of the European Union Savings Directive 3. Ensuring compulsory Common Consolidated Corporate Tax Base 4. Introducing country-by-country reporting for cross-border companies 5. Strengthening regulation of company registries and registers of trustdeleted

Amendment 311 #

Motion for a resolution
Annex - Part 3 – paragraph 3 – point 1

1. Reform~~ing~~ the accounting rules and corporate accounting disclosure

Amendment 312 #

Motion for a resolution
Annex - Part 3 – paragraph 3 – point 1 a (new)

1a. Implement the Commission action plan on tax fraud, tax evasion and tax havens

Amendment 313 #

Motion for a resolution
Annex - Part 3 – paragraph 3 – point 2

2. Upgrad~~ing~~e and extend the scope of the European Union Savings Directive

Amendment 314 #

Motion for a resolution
Annex - Part 3 – paragraph 3 – point 3

3. ~~Ensuring~~Introduce a compulsory Common Consolidated Corporate Tax Base

Amendment 315 #

Motion for a resolution
Annex - Part 3 – paragraph 3 – point 4

4. Introduc~~ing~~e country-by-country reporting for cross-border companies.

Amendment 316 #

Motion for a resolution
Annex - Part 3 – paragraph 3 – point 5

5. Strengthen~~ing~~ regulation of company registries and registers of trust.

Amendment 317 #

Motion for a resolution
Annex - Part 3 – paragraph 3 – point 5

5. Strengthening regulation and transparency of company registries and registers of trusts and foundations

Amendment 318 #

Motion for a resolution
Annex - Part 3 – paragraph 4

This will have to include adequate EU- wide agreements with key non-EU countries currently providing platforms for financial institutions facilitating tax fraud and evasion activities from within the EU, such as Switzerland.deleted

Amendment 319 #

Motion for a resolution
Annex - Part 3 – paragraph 4

Amendment 32 #

Motion for a resolution
Recital F

Amendment 320 #

Motion for a resolution
Annex - Part 3 – paragraph 5

Amendment 321 #

Motion for a resolution
Annex - Part 3 – paragraph 5

It is of paramount importance that the Commission deals with non-EU countries on behalf of the EU as a whole without leaving the initiative to single countries engaging in bilateral agreements. Namely the EU must lead the discussion, in the G20 and then G8, on the fight against tax havens and through its measures persuade non-EU countries to apply EU governance standards in regards to fair taxation, assisting them to subscribe to EU principles of transparency, exchange of information and abolition of harmful tax measures.

Amendment 322 #

Motion for a resolution
Annex - Part 3 – paragraph 3 – point 5a (new)

5a. Review the Directives on Interest and Royalties, Mergers and Parent- Subsidiary;

Amendment 323 #

Motion for a resolution
Annex - Part 3 – paragraph 3 – point 5b (new)

5b. Adopt a blacklist of tax havens, based on: (a) whether advantages are accorded only to non-residents or in respect of transactions carried out with non- residents, or cb) whether advantages are ring-fenced from the domestic market, so they do not affect the national tax base, or (c) whether advantages are granted even without any real economic activity and substantial economic presence within the third country offering such tax advantages, or (d) whether the rules for profit determination in respect of activities within a multinational group of companies departs from internationally accepted principles, notably the rules agreed upon within the Organisation for Economic Co-operation and Development, or (e) whether the tax measures lack transparency, including where legal provisions are relaxed at administrative level in a non-transparent way.

Amendment 33 #

Philippe LAMBERTS, Emilie TURUNEN

Motion for a resolution
Recital F

F. whereas the Commission forecasts for 2012 ~~have been successively~~needed to be revised downwards from 1.8 % in spring 2011 to - 0.4 % in autumn 2012 for 2012, partly due to a delay in the implementation of growth enhancing structural reforms; whereas in its autumn forecasts the Commission predicts a GDP growth of ~~a mere~~ 0.1 % for 2013; whereas ~~there are serious doubts as to~~ the accuracy of these 2013 forecasts~~, since they are likely to be based on an underestimated fiscal multiplier, thereby underestimating the negative effect of current fiscal con~~ will depend on the implementation of the adjustment programmes and growth enhancing strauct~~ion on economic growth~~ural reforms;

Amendment 34 #

Motion for a resolution
Recital F

F. whereas the Commission forecasts for 2012 have been successively revised downwards from 1.8 % in spring 2011 to - 0.4 % in autumn 2012 for 2012; whereas in its autumn forecasts the Commission predicts a GDP growth of a mere 0.1 % for 2013; whereas there are serious do~~ubts as to the accuracy of~~wnside risks to these 2013 forecasts, since inter alia they are likely to be based on an underestimated fiscal multiplier, thereby ~~underestimat~~biasing the negative effect of current fiscal contraction on economic growth;

Amendment 35 #

Andreas SCHWAB

Motion for a resolution
Recital F a (new)

Fa. whereas the Single Market is a key driver for economic growth and jobs in Europe and whereas a more ambitious implementation of the Services Directive alone could provide already an estimated additional 1,8% of GDP; whereas under the current economic circumstances, in particular, the Union cannot afford to leave such immediate growth potentials untapped; whereas a stringent transposition, implementation, application and enforcement of Single Market provisions are therefore indispensable to benefit from yet those unused and immediate potentials;

Amendment 36 #

Motion for a resolution
Recital G

~~G. whereas the size of fiscal multipliers in bad economic times can be 2 to 3 times higher than in normal economic times, when the output gap is close to zero;~~deleted

Amendment 37 #

Motion for a resolution
Recital G

~~G. whereas the size of fiscal multipliers in bad economic times can be 2 to 3 times higher than in normal economic times, when the output gap is close to zero;~~deleted

Amendment 38 #

Motion for a resolution
Recital G

~~G. whereas the size of fiscal multipliers in bad economic times can be 2 to 3 times higher than in normal economic times, when the output gap is close to zero;~~deleted

Amendment 39 #

Motion for a resolution
Recital G

~~G. whereas the size of fiscal multipliers in bad economic times can be 2 to 3 times higher than in normal economic times, when the output gap is close to zero;~~deleted

Amendment 4 #

Motion for a resolution
Recital A b (new)

Ab. whereas with the introduction of the common currency macro-economic imbalances have increased as some countries have applied beggar-thy- neighbour policies with shrinking real wages and weakened social security systems;

Amendment 40 #

Motion for a resolution
Recital G

G. whereas the size of fiscal multipliers i~~n bad economic times can be 2 to 3 times higher than in normal economic times, when the output gap is close to zero~~s, in spite of some 70 years of attempts to quantify them, exceedingly uncertain, thus rendering them an insufficient basis for economic policy formulation;

Amendment 41 #

Motion for a resolution
Recital G

G. whereas the size of fiscal multipliers in bad economic times and more specifically in the aftermath of severe financial crises can be 2 to 34 times higher than in normal economic times~~, when the output gap is close to zero~~;

Amendment 42 #

Motion for a resolution
Recital G a (new)

Ga. whereas constant deficits impede economic growth in a detrimental way; and whereas fiscal discipline must be forcefully upheld in order to prevent deficits of the kind seen in Europe during the last decade from emerging, as these have had a disastrous effect regarding growth as well as employment in a number of Member States;

Amendment 43 #

Motion for a resolution
Recital H

H. whereas the simultaneous consolidation across most of the EU also increased the size of the fiscal multiplier in the eurozone as a whole, and its impacts were amplified by the high degree of openness of the European economies inside the internal market;deleted

Amendment 44 #

Motion for a resolution
Recital H

Amendment 45 #

Motion for a resolution
Recital H

Amendment 46 #

Motion for a resolution
Recital H

H. whereas it is highly uncertain whether the simultaneous consolidation across most of the EU ~~also~~ increased the size of the fiscal multiplier in the eurozone as a whole~~, and its impacts were amplified by the high degree of openness of the European economies inside the internal marke~~ or not;

Amendment 47 #

Motion for a resolution
Recital H

H. whereas ~~the simultaneous~~fiscal consolidation across most of the EU ~~also increased the size of the fiscal multiplier in the eurozone as a whole, and its impacts were amplified by the high degree of openness of the European economies inside the internal market~~is a prerequisite for restoring confidence and long term growth;

Amendment 48 #

Motion for a resolution
Recital I

I. whereas each Member State is ~~suffering from the consequences of its own fiscal tightening and of the synchronised rapid consolidation conducted by the other Member States~~pursuing a different fiscal strategy according to its own bugetary situation nevertheless taking into account Euro area as a whole;

Amendment 49 #

Motion for a resolution
Recital I

I. whereas ~~each~~all Member State iss are suffering from the consequences of ~~its own fiscal tightening and of the synchronised rapid consolidation conducted by the other Member States;~~ the crisis and face the necessity to move towards fiscal tightening and consolidation, and at the same time to try and improve the overall competitiveness of their economies in order to perform better in a tightening international competition;

Amendment 5 #

Motion for a resolution
Recital B

B. whereas the crisis has had devastating consequences for the lives of millions of Europeans, as documented by official statistics on employment: in the EU, over 8 million people have already lost their job since 2008; more than 25 million Europeans are currently out of work, of whom almost 11 million have been unemployed for over a year; unemployment is currently affecting nearly 10 million young people; in the past year alone, 2 million people lost their job; whereas in all EU Member States labour conditions are deteriorating rapidly due to the de-regulation of labour markets and deflationary wage policies;

Amendment 50 #

Motion for a resolution
Recital I

I. whereas ~~each~~different Member States i~~s suffering from the consequences of its own fiscal tightening and of the synchronised rapid consolidation conducted by the other Member State~~mplement fiscal consolidation in a different manner, and all Member States have to deal with cross-country fiscal spillovers;

Amendment 51 #

Motion for a resolution
Recital I

I. whereas ~~each~~some Member State iss are suffering only the short term from the consequences of ~~its own fiscal tightening and of the synchronised rapid consolidation~~a necessary fiscal stabilisation whereas there is strong evidence that rapid fiscal consolidation and structural reforms conducted by ~~the~~ other Member States will have positive spill-over effects and a reduction of cowding out in the long run;

Amendment 52 #

Motion for a resolution
Recital I

I. whereas each Member State is ~~suffering from~~experiencing the consequences of its own fiscal tightening and of the ~~synchronised rapid~~ consolidation conducted by the other Member States which is particularly the case for countries in severe economic difficulties;

Amendment 53 #

Motion for a resolution
Recital J

J. whereas this fiscal tightening strategy ~~forces down demand, wages and prices while driving up unemployment~~aims at keeping public expenditure growth below the rate of growth of medium-term trend GDP;

Amendment 54 #

Motion for a resolution
Recital J

J. whereas ~~this~~ fiscal ~~tightening strategy forces down demand, wages and prices while driving up unemployment;~~ consolidation and structural reform are a necessity if individual Member States and the EU as a whole is to return to long-term growth and prosperity; whereas any uncertainty as regards Member States' commitment to the reform processes enacted would be detrimental for the propensity to invest in and economic opportunities of a Member State;

Amendment 55 #

Motion for a resolution
Recital J

J. whereas this fiscal tightening strategy ~~forces down demand,~~reduces aggregate demand, and creates downward pressures on wages and prices while driving up unemployment;

Amendment 56 #

Motion for a resolution
Recital J

J. whereas this fiscal tightening ~~strategy~~tends to freeze or forces down ~~demand,~~ wages and prices ~~while driving up unemployment~~thus increasing competitiveness, and a balance needs to be found to alleviate the consequences of temporarily reduced overall demand and increased unemployment especially in those economic sectors which need to be trimmed;

Amendment 57 #

Motion for a resolution
Recital J

J. whereas ~~this~~ fiscal ~~tightening strategy forces down~~policies affect demand, wages ~~and~~, prices ~~while driving up~~and unemployment;

Amendment 58 #

Motion for a resolution
Recital J

J. whereas ~~this~~a fiscal ~~tightening strategy forces down demand, wages and prices while~~consoldiation strategy is part of the necessary internal devaulation in some Member States driving up unemployment and sustainable growth in the future;

Amendment 59 #

Motion for a resolution
Recital J

J. whereas ~~this~~ fiscal tightening ~~str~~in some Member Stategys forces down demand, wages and prices while driving up unemployment; in the short-term; whereas the excessive levels of public and private debt restrict the scope for new activities and investment;

Amendment 6 #

Motion for a resolution
Recital B a (new)

Ba. whereas the rigidity of labour market regulation in several Member States lacks the flexibility to effectively absorb shocks such as the current crisis; whereas current labour market legislation disproportionally protects insiders and adversely affects the inclusion of young people into the workforce;

Amendment 60 #

Motion for a resolution
Recital J a (new)

Ja. whereas Europe's future economic prosperity depends crucially on its ability to fully utilise its labour resources, also by increasing the participation of women in the labour market;

Amendment 61 #

Motion for a resolution
Recital K

K. whereas ~~recent International Monetary Fund (IMF) studies document that~~ gradual and smooth fiscal consolidation is preferable to a strategy of reducing public finance imbalances ~~too~~ rapidly and abruptly but the state of the economy of some Member States does not leave an alternative to regain market access and see investment return;

Amendment 62 #

Motion for a resolution
Recital K

K. whereas recent International Monetary Fund (IMF) studies document that gradual and smooth fiscal consolidation is preferable to a strategy of reducing public finance imbalances too rapidly and abruptly; whereas the instruments in place contribute to such a smoothening already;

Amendment 63 #

Motion for a resolution
Recital K

K. whereas recent International Monetary Fund (IMF) studies ~~documen~~suggest that gradual and smooth fiscal consolidation is preferable to a strategy of reducing public finance imbalances too rapidly and abruptly, and thus an optimum speed needs to be sought in each Member State taking into consideration the country specific combination of boundary conditions;

Amendment 64 #

Motion for a resolution
Recital L

L. whereas the Macroeconomic Imbalances Procedure (MIP) scoreboard for 2011 illustrates the huge imbalances inside the European Union, especially in the eurozone; the 3-year average of Current Account Balance as % of GDP shows strong surpluses for only three countries (Luxembourg and the Netherlands at +7.5 and Germany at +5.9), with the majority of the other countries in negative positions;deleted

Amendment 65 #

Motion for a resolution
Recital L

L. whereas the Macroeconomic Imbalances Procedure (MIP) scoreboard for 2011 illustrates the ~~huge~~substantial imbalances inside the European Union, especially in the eurozone; the 3-year average of Current Account Balance as % of GDP shows strong surpluses for only three countries (Luxembourg and the Netherlands at +7.5 and Germany at +5.9), with the majority of the other countries in negative positions;

Amendment 66 #

Motion for a resolution
Recital L

L. whereas the Macroeconomic Imbalances Procedure (MIP) scoreboard for 2011 illustrates the huge imbalances inside the European Union, especially in the eurozone; the 3-year average of Current Account Balance as % of GDP shows ~~strong surpluses for only three countries (Luxembourg and the Netherlands at +7.5 and Germany at +5.9), with~~ the majority of the ~~other~~ countries in negative positions;

Amendment 67 #

Motion for a resolution
Recital L

Amendment 68 #

Motion for a resolution
Recital L a (new)

La. whereas HIPC rates show significant differences across the EMU;

Amendment 69 #

Motion for a resolution
Recital M

M. whereas this shows that the gains from the internal market and common currency are spread very unevenly across the Member States, reducing the margin of manoeuvre of the weaker economies in response to crisis;deleted

Amendment 7 #

Motion for a resolution
Recital B a (new)

Ba. whereas inequality is rising dramatically leading to socio-economic fragmentation of the societies which will eventually have a negative impact on every citizen in the Union;

Amendment 70 #

Motion for a resolution
Recital M

Amendment 71 #

Motion for a resolution
Recital M

M. whereas this shows that the gains from the internal market and common currency are spread ~~very unevenly across the Member States, reducing the margin of manoeuvre of the weaker economies in response to crisis~~due to the unsound domestic fiscal and economic policies these Member States in the past;

Amendment 72 #

Motion for a resolution
Recital M

M. whereas ~~this shows that~~ the gains from the internal market and common currency are spread ~~very~~ unevenly across the Member States~~, reducing the margin of manoeuvre of the weaker economies in response to crisis~~;

Amendment 73 #

Motion for a resolution
Recital M

M. whereas this shows that the gains from the internal market and common currency are spread very unevenly across the Member States, ~~reducing the margin of manoeuvre of the weaker economies in response to crisi~~also given different levels of competitiveness and sustainability of growth in the Member States;

Amendment 74 #

Motion for a resolution
Recital M

M. whereas ~~this shows that the gains from the internal market and common currency are spread very unevenly across the Member States, reducing the margin of manoeuvre of the weaker economies in response to crisis~~further liberalization of services would advance the internal market and allow all Member States to take advantage of its full potential;

Amendment 75 #

Motion for a resolution
Recital M

M. whereas this shows that ~~the gains from the internal market and common currency are spread very unevenly~~competitiveness of economies in the internal market and in the Eurozone vary a lot across the Member States, reducing the margin of manoeuvre of the weaker economies in response to crisis;

Amendment 76 #

Motion for a resolution
Recital N

N. whereas ~~austerity~~consolidation measures adopted by several Member States have reached an unprecedented dimension: the fiscal stance for Greece from 2010 to 2012 amounts to 18 points of GDP, for Portugal, Spain and Italy respectively 7.5, 6.5 and 4.8 points of GDP without any significant signs of improvement of the economic and fiscal situation and with huge social disruption, calling for a new assessment of the policies imposed;

Amendment 77 #

Motion for a resolution
Recital N

N. whereas ~~austerity measures adopted by several Member States have reached an unprecedented dimension:~~ the fiscal stance for Greece from 2010 to 2012 amounts to 18 points of GDP, for Portugal, Spain and Italy respectively 7.5, 6.5 and 4.8 points of GDP, with~~out any significant signs of improvement of the economic and fiscal situation and with huge social disruption, calling for a new assessment of the policies imposed~~ huge social disruption, but is getting better and producing some signs of improvement of the economic and fiscal situation;

Amendment 78 #

Motion for a resolution
Recital N

N. whereas austerity measures adopted by several Member States have reached an unprecedented dimension: the fiscal stance for Greece from 2010 to 2012 amounts to 18 points of GDP, for Portugal, Spain and Italy respectively 7.5, 6.5 and 4.8 points of GDP with~~out any~~ significant signs of long term improvement of the economic and fiscal situation ~~and with huge social disruption~~, calling for a ~~new assessment~~continuation of the policies imposed;

Amendment 79 #

Philippe LAMBERTS, Emilie TURUNEN

Motion for a resolution
Recital N

N. whereas austerity measures adopted by several Member States have reached an unprecedented dimension: the fiscal stance for Greece from 2010 to 2012 amounts to 18 points of GDP, for Portugal, Spain and Italy respectively 7.5, 6.5 and 4.8 points of GDP ~~without any significant~~but there are signs of improvement of the economic and fiscal situation ~~and with huge social disruption, calling for a new assessment of the policies imposed~~showing that countries need to continue the adjustment path;

Amendment 8 #

Motion for a resolution
Recital B a (new)

Ba. Whereas the disparity in the unemployment rates between the Member States has grown dramatically however;

Amendment 80 #

Motion for a resolution
Recital N

N. whereas ~~austerity~~consolidation measures adopted by s~~everal~~ome Member States have reached an unprecedented dimension: the fiscal stance for Greece from 2010 to 2012 amounts to 18 points of GDP, for Portugal, Spain and Italy respectively 7.5, 6.5 and 4.8 points of GDP without any significant signs of improvement of the economic and fiscal situation and with huge social disruption, calling for a ~~new assessment~~continuous monitoring of the policies imposed;

Amendment 81 #

Motion for a resolution
Recital N

N. whereas austerity measures adopted by several Member States have reached an unprecedented dimension: the fiscal stance for Greece from 2010 to 2012 amounts to 18 points of GDP, for Portugal, Spain and Italy respectively 7.5, 6.5 and 4.8 points of GDP without any significant signs of improvement of the economic and fiscal situation and with huge social disruption, calling for a new assessment of the policies imposed; whereas primary surpluses have generally improved;

Amendment 82 #

Motion for a resolution
Recital O

O. whereas ~~sovereign interest rates show unprecedented divergences within the euro area and remain at unsustainable levels for~~, despite Member States' reform and consolidation efforts, eurozone sovereign bond markets remain in distress, as reflected in high spreads and interest rate volatility; whereas the immediate trigger and root cause of the unprecedented divergences were financial markets' concerns about the solidity of public finances in certain Member States;

Amendment 83 #

Motion for a resolution
Recital O

O. whereas sovereign interest rates show unprecedented divergences within the euro area and remain at unsustainable levels for certain Member States; whereas the OMT announcement has had non-negligible effects in the reduction of interest-rate spreads;

Amendment 84 #

Motion for a resolution
Recital O

O. whereas sovereign interest rates show unprecedented divergences within the euro area ~~and remain at unsustainable levels for certain Member State~~reflecting the risks attached to these bonds;

Amendment 85 #

Motion for a resolution
Recital O

O. whereas current sovereign interest rates show ~~unprecedented~~large divergences within the euro area and remain at unsustainable levels for certain Member States;

Amendment 86 #

Motion for a resolution
Recital O a (new)

Oa. whereas the competitiveness gap within the euro area is reflected in the divergences of sovereign interest rates;

Amendment 87 #

Motion for a resolution
Recital O b (new)

Ob. whereas high sovereign interest rates in certain euro area Member States are due to a perceived lack of credibility of their capacity to conduct structural reforms;

Amendment 88 #

Motion for a resolution
Recital O c (new)

Oc. whereas the euro area has failed to use the overall reduction of sovereign interest rates in the first ten years of the euro to close the competitiveness gap, which amongst others has been reflected in persistently large current account deficits and rapidly increasing unit labour costs;

Amendment 89 #

Motion for a resolution
Recital O d (new)

Od. whereas current adjustment in certain countries would be politically, economically and socially less difficult if the positive economic climate in the first ten years of the euro had been used to adjust;

Amendment 9 #

Motion for a resolution
Recital C

C. whereas it should be recalled that, in 2007, at the start of the crisis, the average public deficit for the euro area stood at ~~only~~ 0.67 % and was on a declining path towards equilibrium;

Amendment 90 #

Motion for a resolution
Recital P

~~P. whereas surplus countries should have been asked to share the adjustment burden by stimulating their internal demand, notably by adjusting wages;~~deleted

Amendment 91 #

Motion for a resolution
Recital P

~~P. whereas surplus countries should have been asked to share the adjustment burden by stimulating their internal demand, notably by adjusting wages;~~deleted

Amendment 92 #

Motion for a resolution
Recital P

P. whereas surplus countries should have been asked to share the adjustment burden by stimulating their internal demand, notably by adjusting wages and by stimulating investments oriented towards sustainable growth enhancing sectors as well as by increasing overall capital and resource productivity;

Amendment 93 #

Motion for a resolution
Recital P

P. whereas ~~surplus~~all countries should ~~have been asked to share the adjustment burden by stimulating their internal demand, notably by adjusting wage~~improve their domestic fiscal frameworks;

Amendment 94 #

Motion for a resolution
Recital P

P. whereas surplus countries should have been asked to share the adjustment burden by stimulating their internal demand, ~~notably by adjusting wage~~while countries with a negative account balance should be urged to implement structural reforms to increase their competitiveness in European and international markets;

Amendment 95 #

Motion for a resolution
Recital P

P. whereas surplus countries should have been asked to share the adjustment burden, both of fiscal and external balances, by stimulating their internal demand, notably by ~~adjust~~raising wages;

Amendment 96 #

Motion for a resolution
Recital P

P. whereas some surplus countries ~~should have been asked to~~have shared the adjustment burden not only by financial means but also by stimulating their own internal demand, notably by adjusting wages;

Amendment 97 #

Motion for a resolution
Recital P

P. whereas ~~surplus countries should have been asked to share the adjustment burden by stimulating their internal demand~~adjustment is also taking place in surplus countries, notably by adjusting wages;

Amendment 98 #

Motion for a resolution
Recital Q

~~Q. whereas the Commission has been unable to make a convincing case that the policy options imposed will deliver over time and that they will impact on society in a fair and acceptable way;~~deleted

Amendment 99 #

Motion for a resolution
Recital Q

source: PE-502.108

2013/01/08 AFCO 4 amendments...

Amendment 1 #

Draft opinion
Paragraph 6

6. Takes the view that, shortly after the publication of the Annual Growth Survey, Parliament could signal its own endorsement or rejection of the policy priorities and objectives through a vote in plenary;deleted

Amendment 2 #

Draft opinion
Paragraph 7

7. Believes that, in order to reinforce Parliament’s role and position in setting the agenda, consideration should be given to the possibility of it preparing a multi- year policy priorities document at the beginning of each five-year electoral mandate;deleted

Amendment 3 #

Draft opinion
Paragraph 16

16. Recalls that Parliament must be recognised as the appropriate European democratic forum to provide an overall evaluation at the end of the European Semester; believes that, as a sign of this recognition, representatives of the EU institutions and the economic bodies involved in the process should provide information to Members of the European Parliament when asked to do so;

Amendment 4 #