Awaiting Parliament 1st reading / single reading / budget 1st stage
2014/2145(INI) Review of the economic governance framework: stocktaking and challenges
Lead committee dossier: ECON/8/01152
Legal Basis RoP 052
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Opinion | AFCO | GOULARD Sylvie (ALDE) | |
| Lead | ECON | BERÈS Pervenche (S&D) | DE LANGE Esther (EPP), LUCKE Bernd (ECR), THEURER Michael (ALDE), KARI Rina Ronja (GUE/NGL), MATIAS Marisa (GUE/NGL), URTASUN Ernest (Verts/ALE), VALLI Marco (EFD) |
| Opinion | EMPL | SANDER Anne (EPP) | |
| Opinion | IMCO | GÁLL-PELCZ Ildikó (EPP) |
Legal Basis RoP 052
Activites
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2015/06/24
Debate in plenary scheduled
- #3399
- 2015/06/19 Council Meeting
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2015/06/17
Committee report tabled for plenary, single reading
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A8-0190/2015
summary
The Committee on Economic and Monetary Affairs adopted the own-initiative report by Pervenche BERÈS (S&D, FR) on the review of the economic governance framework: stocktaking and challenges. Whilst welcoming the Commission Communication of 28 November 2014 on the economic governance review, the committee stressed the fact that the current economic governance framework needs to be implemented and where necessary improved to: (i) deliver fiscal stability, to favour a proper debate on the overall assessment of the euro area as a whole allowing growth friendly fiscal responsibility; (ii) improve economic convergence perspective of the euro area; (iii) address on an equal footing Member States' different economic and fiscal situations. Members insisted that the current framework is complex and it suffers from a lack of ownership at national level and limited attention to the international economic perspective and appropriate democratic accountability mechanism. They underlined the importance of simple and transparent procedures for economic governance. Best application of flexibility within the existing rules: the report welcomed the interpretative communication on flexibility within the existing rules of the Stability and Growth Pact (SGP). Members supported: all the incentives proposed by the European Commission to finance the new European Fund for Strategic Investments (EFSI), mainly by making national contributions to the fund fiscally neutral as regards to the attainment of the MTO and to the required fiscal adjustment effort without modifying it in the preventive or the corrective arm of the Stability and Growth Pact; the Commission's intention to refrain from launching an Excessive Deficit Procedure (EDP) if, only because of the additional contribution to the EFSI, a Member State deficit goes slightly and temporarily beyond the 3% deficit limit; that the Commission communication aims at clarifying the scope of the investment clause, allowing for a certain degree of temporary flexibility in the preventive arm of the SGP, in the form of a temporary deviation from the Medium Term Objective (MTO), provided the deviation does not lead to an excess over the 3% deficit reference value and an appropriate safety margin, to accommodate investment programmes by the Member States. Closer coordination, economic convergence and streamlining of the European Semester: the report urged the Commission to fully apply the SGP and ensure its fair implementation. Members supported the Commission three-pillar strategy (growth-enhancing investments, fiscal consolidation and structural reforms), presented in the AGS 2015 and asked to make it more concrete under the overall assessment of the budgetary situation and prospects in the euro area and in the Country Specific Recommendations. Members made the following recommendations: streamline and reinforce the European Semester within the current legislative framework; the Commission and the Council should better articulate the fiscal and macroeconomic frameworks to allow for earlier and more consistent debate among all stakeholders taking into account: (i) the European interests served by these frameworks, (ii) the need to increase convergence between euro area Member States, (iii) deliberation by national parliaments and the role of social partners or of local authorities regarding the ownership of sustainable and socially balanced structural reforms; the Annual Growth Survey (AGS) as well as the country-specific recommendations (CSR) must be better implemented and take into account the assessment of the budgetary situation and prospects both in the euro area as a whole and in the individual Member States; the Country Specific Recommendations (CSRs) should be, where relevant, better coordinated with the Excessive Deficit Procedure (EDP) recommendations so as to ensure consistency; the elaboration, follow-up, support and monitoring of Country Specific Recommendations should be enhanced; the Commission should take account, in its analyses all important factors, including real growth, inflation, long term public investment and unemployment rates when evaluating the economic and fiscal situations of Member States. Democratic accountability and challenges ahead: Members stressed that a major role must be played by institutions subject to democratic accountability. They recalled the European Parliament's resolutions specifying that the creation of the European Stability Mechanism (ESM) and of the Treaty on Stability, Coordination and Governance ('Fiscal Compact') outside of the structure of the institutions of the Union represents a setback to the political integration of the Union. The stakeholders are invited to take into account the foreseeable future enlargement of the euro area and to explore all options to deepen and strengthen the EMU, such as: enhanced democratic accountability mechanisms at both the EU and national levels, whereby responsibilities must be assumed at the level where decisions are taken and based on the adoption of convergence guidelines under co-decision; formalising the scrutiny role of the European Parliament in the European Semester in an Inter-Institutional Agreement; ensuring that all euro area National Parliaments follow each step of the European Semester process; a social dimension aimed at preserving Europe's social market economy, respecting the right to collective bargaining; a euro area fiscal capacity based on specific own-resources which should, in the framework of the Union budget with European parliamentary control, assist Member States in the implementation of the agreed structural reforms; increasing the resilience of the EMU to face economic shocks and emergencies directly connected to the monetary union; the inclusion of the European Stability Mechanism and the Treaty on Stability, Coordination and Governance (TSCG) in Union law. Members recalled their request to develop options for a new legal framework for future macroeconomic adjustment programmes, replacing the Troika, in order to increase the transparency and ownership of these programmes and ensure that all EU decisions are, where possible, taken under the Community method.
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A8-0190/2015
summary
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2015/06/16
Vote in committee, 1st reading/single reading
- #3387
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2015/05/12
Council Meeting
- #3366
- 2015/01/27 Council Meeting
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2014/11/24
Committee referral announced in Parliament, 1st reading/single reading
Documents
- Debate in Council: 3366
- Committee report tabled for plenary, single reading: A8-0190/2015
- Debate in Council: 3399
| Amendments | Dossier |
| 1057 |
2014/2145(INI)
2015/01/29
AFCO
42 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Takes the view that it is absolutely vital for the democratic legitimacy of EMU to be improved substantially within the EU’s institutional framework and in line with the Community method, simultaneously obeying the existing regulations, especially the Treaty of Maastricht with its no-bail-out clause and the Stability and Growth Pact;
Amendment 10 #
Draft opinion Paragraph 2 2. Calls for an interinstitutional agreement to be concluded between the European Parliament, the Commission and the Council providing for effective parliamentary
Amendment 11 #
Draft opinion Paragraph 2 2. Calls for an interinstitutional agreement to be concluded between the European Parliament, the Commission and the Council providing for parliamentary
Amendment 12 #
Draft opinion Paragraph 2 a (new) 2a. Calls for providing an adequate mechanism to ensure a more active role of national Parliaments in issues of economic and financial governance, in particular with regard to the European Semester.
Amendment 13 #
Draft opinion Paragraph 2 a (new) 2a. Is convinced that full parliamentary scrutiny and effective participation in decision making in the field of economic and monetary policy, taxation and own resources requires a revision of the Treaty and reserves the right, under Article 48 TEU, submit proposals to the Council with a view to convening a constitutional convention;
Amendment 14 #
Draft opinion Paragraph 2 a (new) 2a. Requests, in this regard, the adoption of the Annual Growth Survey under the codecision procedure; that the ESM is integrated into the EU legal framework and made formally accountable to the European Parliament, through the joint application of articles 352 and 136 of the TFEU; that the decision-making process within the Eurogroup operates in the interests of accountability and democratic legitimacy; and that, in the long term, the Commissioner for Economic Affairs chairs the Eurogroup;
Amendment 15 #
Draft opinion Paragraph 3 3.
Amendment 16 #
Draft opinion Paragraph 3 3. Takes the view also that the implementation of the
Amendment 17 #
Draft opinion Paragraph 3 3. Takes the view that the implementation of the economic dialogue needs to be reviewed so as to ensure that there is proper parliamentary scrutiny at all stages of the procedure, following the principle of subsidiarity on national levels as well as on EU level;;
Amendment 18 #
Draft opinion Paragraph 3 3. Takes the view that the implementation of the economic dialogue needs to be scrupulously reviewed so as to ensure that there is proper parliamentary scrutiny at all stages of the procedure;
Amendment 19 #
Draft opinion Paragraph 3 a (new) 3a. Regrets that the capacity of national Parliaments to control and influence their governments' actions in the EU are insufficient; is of the view that national Parliaments should take more active part in policymaking in terms of scrutinizing and shaping their government's positions before they are submitted to the Commission.
Amendment 2 #
Draft opinion Paragraph 1 1. Takes the view that it is absolutely vital
Amendment 20 #
Draft opinion Paragraph 3 a (new) 3a. Reiterates its suggestion, contained in the report on the role and operations of the Troika, to give the European Parliament codecision powers in the appointment of the ECB President;
Amendment 21 #
Draft opinion Paragraph 3 a (new) 3a. Believes that the elaboration of a new legal framework for future assistance programs should guarantee that all decisions are taken under the responsibility of the Commission with the full involvement of the European Parliament, in order to ensure full democratic legitimacy and accountability;
Amendment 22 #
Draft opinion Paragraph 4 4. Welcomes the setting-up of the Interparliamentary Conference on Economic and Financial Governance of the European Union
Amendment 23 #
Draft opinion Paragraph 4 4. Welcomes the setting-up of the Interparliamentary Conference on Economic and Financial Governance of the European Union; believes that IPC-EFG can help to reduce the evident gap in parliamentary control; underscores, nevertheless, its limits when it comes to encouraging accountability on the part of decision-makers; points out that
Amendment 24 #
Draft opinion Paragraph 4 4. Welcomes the setting-up of the Interparliamentary Conference on Economic and Financial Governance of the European Union; underscores, nevertheless, its limits when it comes to encouraging accountability on the part of decision-makers; points out that
Amendment 25 #
Draft opinion Paragraph 4 4. Welcomes the setting-up of the Interparliamentary Conference on Economic and Financial Governance of the European Union; assesses the setting-up of the Interparlamentary Conference on Economic and Financial Governance of the European Union as non-imperative and limited to those fields of activity not to be decided on national levels, underscores, nevertheless, its limits when it comes to encouraging accountability on the part of decision-makers; points out that responsibilities must be assumed at the appropriate level thoroughly following the principle of subsidiarity, with national parliaments scrutinising national governments and the European Parliament scrutinising the European executive, and that such cooperation must not lead to the establishment of a new joint parliamentary body;
Amendment 26 #
Draft opinion Paragraph 4 4.
Amendment 27 #
Draft opinion Paragraph 4 a (new) 4a. Welcomes President Juncker's proposal to create a European fund for strategic investments (EFSI) and introduce new detailed guidelines for the deduction of expenditure for the fund under the Stability and Growth Pact;
Amendment 28 #
Draft opinion Paragraph 5 Amendment 29 #
Draft opinion Paragraph 5 Amendment 3 #
Draft opinion Paragraph 1 1. Takes the view that it is absolutely vital for the democratic legitimacy of EMU to be improved substantially within the EU’s institutional framework and in line with the Community method; believes that parliamentary scrutiny is necessary to assure democratic control and accountability;
Amendment 30 #
Draft opinion Paragraph 5 5.
Amendment 31 #
Draft opinion Paragraph 5 5. Takes the view that
Amendment 32 #
Draft opinion Paragraph 5 5. Takes the view that it is vital and urgent to distinguish between countries’ operating expenditure and their productive investments, and that it is for the Commission, with the help of Eurostat, to lay down, in advance,
Amendment 33 #
Draft opinion Paragraph 5 5. Takes the view that it is vital to distinguish between countries’ operating expenditure and their
Amendment 34 #
Draft opinion Paragraph 5 a (new) 5a. Recalls that a "Genuine Economic and Monetary Union" cannot be limited to a system of rules, but must be part of an ambitious political project, and that the necessary deepening of the EMU absolutely needs four interrelated conditions: a fiscal capacity, renewed assistance mechanisms, a social dimension, an institutional and democratic pillar;
Amendment 35 #
Draft opinion Paragraph 5 b (new) 5b. Takes the view that the Commission communication on making the best use of flexibility within the rules of the SGP is a positive first step, but urges the Commission to extend the application of the "investment clause" to the corrective arm of the SPG, making use of a similar methodology that grounded the application of the "investment clause" to the preventive arm of the SGP;
Amendment 36 #
Draft opinion Paragraph 5 c (new) 5c. Takes the view that the social dimension of the EMU must be fully taken into account, whereas according to the Article 9 of the TFEU the promotion of high employment and social protection have to be taken into account when defining and implementing the policies and the activities of the EU. Calls for an equal treatment between the social rights and the internal Market's freedoms in the hierarchy of norms;
Amendment 37 #
Draft opinion Paragraph 6 Amendment 38 #
Draft opinion Paragraph 6 Amendment 39 #
Draft opinion Paragraph 6 Amendment 4 #
Draft opinion Paragraph 1 1. Takes the view that it is absolutely vital for the democratic legitimacy of EMU to be improved substantially within the EU’s institutional framework and in line with the Community method; considers that the pieces of legislation based on intergovernmental treaties and implemented during the crisis have hampered the democratic legitimacy of the EMU and the European project;
Amendment 40 #
Draft opinion Paragraph 6 6. Takes the view that
Amendment 41 #
Draft opinion Paragraph 6 6. Takes the view that
Amendment 42 #
Draft opinion Paragraph 6 a (new) 6a. Stresses that the European Parliament shall fully play its part in the upcoming discussions and decisions and requests the President of the Commission to submit - an ambitious 'roadmap" outlining the necessary legislative and institutional progress to create the best future possible for the Euro Zone, the EU and its citizens.
Amendment 5 #
Draft opinion Paragraph 1 1. Takes the view that it is absolutely vital for the democratic legitimacy of EMU to be improved substantially within the EU’s institutional framework and in line with the Community method; calls therefore to integrate, as soon as possible, the ESM within the community acquis and, after a comprehensive assessment of its implementation, the relevant provisions of the TSCG into the legal framework of the European Union within five years at the latest; reiterates its conviction that the conclusion of international agreements outside the EU legal framework jeopardises its unity as well as its consistency and effectiveness, does not provide for genuine parliamentary scrutiny, hence shall be avoided;
Amendment 6 #
Draft opinion Paragraph 1 a (new) 1a. Underlines that the Eurogroup and the Eurosummit are, respectively, informal configurations of the Economic and Financial Affairs Council and of the European Council, that they anyway took major decisions in the field of the EMU and that those decisions suffer therefore from a lack of democratic legitimacy;
Amendment 7 #
Draft opinion Paragraph 1 a (new) 1a. Advocates, in this sense, for the establishment of a less complex, more efficient and transparent economic governance, aiming, in the long term perspective, at a deeper integration of the EU, while offering medium-term solutions to enable the Euro Zone and the Union to face the current challenges.
Amendment 8 #
Draft opinion Paragraph 1 b (new) 1b. Calls on the European Commission, as one of the European institutions involved in defining, deciding and monitoring the compliance of national governments' economic adjustment programmes with the MoU, to regularly report to the European Parliament on the relevant decisions taken when it acts as member of the Troika;
Amendment 9 #
Draft opinion Paragraph 2 2.
source: 546.832
2015/02/02
EMPL
140 amendments...
Amendment 1 #
Draft opinion Recital A (new) A. whereas, pursuant to Article 3(3) of the Treaty on European Union, the Union ‘shall work for the sustainable development of Europe based on balanced economic growth and price stability, a highly competitive social market economy, aiming at full employment and social progress, and a high level of protection’;
Amendment 10 #
Draft opinion Paragraph 1 1.
Amendment 100 #
Draft opinion Paragraph 8 8. With a view to improving the effectiveness
Amendment 101 #
Draft opinion Paragraph 8 8. With a view to improving the effectiveness and focus of budget policies, calls on the Member States to
Amendment 102 #
Draft opinion Paragraph 8 8. With a view to improving the effectiveness and focus of budget policies, calls on the Member States to press ahead with their efforts to modernise their labour markets and social security systems; with this in mind, encourages them to share best practices, investing in people and enhancing European solidarity;
Amendment 103 #
Draft opinion Paragraph 8 8.
Amendment 104 #
Draft opinion Paragraph 8 8. With a view to improving the effectiveness and focus of budget policies, calls on the Member States to press ahead with their efforts to modernise their labour markets, educational systems and social security systems through structural reforms which ensure a better match between skills and jobs; with this in mind, encourages them to share best practices;
Amendment 105 #
Draft opinion Paragraph 8 8. With a view to improving the effectiveness
Amendment 106 #
Draft opinion Paragraph 8 8.
Amendment 107 #
Draft opinion Paragraph 8 a (new) 8a. Draws attention to proposals to ensure active involvement of Member States in implementing the Juncker Plan by means of developing a European framework that excludes expenditures for education, research and development and professional training from national deficit targets;
Amendment 108 #
Draft opinion Paragraph 8 a (new) 8a. Deplores the fact that the EU does not make any provision for modernisation, and its recommendations are in fact leading to a reverse trend in the social situation;
Amendment 109 #
Draft opinion Paragraph 8 a (new) 8a. Regrets that in its attempts to balance fiscal policies, the Commission has chosen to side-line the importance of social protection systems as key instruments for stabilising the economy, as well as society;
Amendment 11 #
Draft opinion Paragraph 1 1.
Amendment 110 #
Draft opinion Paragraph 8 a (new) 8a. Proposes to protect salary levels with regard to the inherent obligations associated with economic governance, at least at the levels negotiated in collective agreements;
Amendment 111 #
Draft opinion Paragraph 8 b (new) 8b. Calls on the Commission to extend the wage safeguard clauses in the Two-Pack, which safeguard the right to bargain and to take action, to all existing instruments of European economic regulation; calls on social partners to increase wage coordination within the Eurozone to avoid imbalances;
Amendment 112 #
Draft opinion Paragraph 9 9.
Amendment 113 #
Draft opinion Paragraph 9 9. So as to address the urgent situation with regard to youth unemployment, encourages Member States to use the available resources in an effective and focused way via the introduction of the youth employment initiative, thereby boosting demand and supply on the single market; and recommends that cross-border mobility be supported via the development of the EURES portal as a vector for youth employment;
Amendment 114 #
Draft opinion Paragraph 9 9. So as to address the urgent situation with regard to youth unemployment, encourages the Commission to allow the Member States to use the available resources in an effective and focused way via precise, legally sound guidelines for the introduction of the youth employment initiative, and recommends that cross- border mobility be supported via the development of the EURES portal as a vector for youth employment;
Amendment 115 #
Draft opinion Paragraph 9 9. So as to address the urgent situation with regard to youth unemployment, encourages Member States to use the available resources in an effective and focused way via
Amendment 116 #
Draft opinion Paragraph 9 9. So as to address the urgent situation with regard to youth unemployment, encourages Member States to use the available resources in an effective and focused way
Amendment 117 #
Draft opinion Paragraph 9 9. So as to address the urgent situation with regard to youth unemployment, encourages Member States to use the available resources in an effective and focused way via the introduction of the youth employment initiative, enhanced use of vocational training as a tool for enhanced employability and a better match between skills and jobs and recommends that cross-border mobility be supported via the development of the EURES portal as a vector for youth employment;
Amendment 118 #
Draft opinion Paragraph 9 9.
Amendment 119 #
Draft opinion Paragraph 9 a (new) 9a. Notes that the EURES portal is not a vector for employment but simply a way of moving round work shortages;
Amendment 12 #
Draft opinion Paragraph 1 1.
Amendment 120 #
Draft opinion Paragraph 9 a (new) 9a. In the face of ageing populations and pension system reforms, calls on the Member States to give priority to action focusing on older workers; calls on the Commission to lay down criteria and step up checks on the use of EU funding for older workers and to take more action as regards the employment of older people;
Amendment 121 #
Draft opinion Paragraph 9 a (new) 9a. Notes with grave concern that long term unemployment has doubled over the course of the crisis; notes also that this increase was even higher among low skilled workers; calls on the Commission to ensure that fight against long-term unemployment is reflected in its policies and country-specific recommendations;
Amendment 122 #
Draft opinion Paragraph 9 a (new) 9a. Notes with grave concern that long term unemployment has doubled over the course of the crisis; notes also that this increase was even higher among low skilled workers; calls on the Commission to ensure that the fight against long-term unemployment is reflected in its policies and country-specific recommendations;
Amendment 123 #
Draft opinion Paragraph 9 b (new) 9b. Believes that the rising levels of inequality in Europe should be given the upmost importance in the context of the Union’s Economic framework; believes that one of the best ways to combat this rising inequality is to redouble the efforts in creating more quality jobs in Europe;
Amendment 124 #
Draft opinion Paragraph 9 b (new) 9b. Believes that the rising levels of inequality in Europe should be given the upmost importance in the context of the Union’s Economic framework; believes that one of the best ways to combat this rising inequality is to redouble the efforts in creating more quality jobs in Europe;
Amendment 125 #
Draft opinion Paragraph 10 10. With a view to
Amendment 126 #
Draft opinion Paragraph 10 10.
Amendment 127 #
Draft opinion Paragraph 10 10. With a view to stepping up democratic scrutiny and reducing the increasing gulf between the EU institutions and EU citizens, recommends that the European Parliament, national parliaments and management and labour be more closely involved in economic dialogue between the Member States and the Commission.
Amendment 128 #
Draft opinion Paragraph 10 10. With a view to stepping up democratic scrutiny, recommends that the European Parliament, national parliaments, civil society and management and labour be more closely involved in economic dialogue between the Member States and the Commission.
Amendment 129 #
Draft opinion Paragraph 10 10.
Amendment 13 #
Draft opinion Paragraph 1 1. Is
Amendment 130 #
Draft opinion Paragraph 10 10. With a view to stepping up democratic
Amendment 131 #
Draft opinion Paragraph 10 10. With a view to stepping up democratic scrutiny, recommends that the European Parliament, national parliaments and
Amendment 132 #
Draft opinion Paragraph 10 10. With a view to stepping up democratic
Amendment 133 #
Draft opinion Paragraph 10 10. With a view to stepping up democratic scrutiny, recommends that the European Parliament, national parliaments and
Amendment 134 #
Draft opinion Paragraph 10 a (new) 10a. Recalls on the Commission and the Council to enter into an interinstitutional agreement with the European Parliament in order to fully guarantee the role of the Parliament within the whole Semester Process;
Amendment 135 #
Draft opinion Paragraph 10 a (new) 10a. Calls for the economic governance regulations to be revised so as to make the following changes to the European Semester process: (a) before the Annual Growth Survey is published, the Commission must hold a debate with representatives of the European Parliament on the survey’s broad guidelines; (b) following publication and before the corresponding debate at the European Council meeting, trilogues must be held between the three institutions to agree on an economic framework, one for jobs and one for social policies; (c) following adoption of the report on Annual Growth Survey and before the corresponding debate at the European Council meeting, trilogues must be held between the three institutions to agree on an economic framework, one for jobs and one for social policies;
Amendment 136 #
Draft opinion Paragraph 10 a (new) 10a. Believes that social partners should have an increased role in the economic governance framework both at European and national level; believes that such a reinforced role would increase the democratic legitimacy of the economic governance framework whilst safeguarding citizens’ rights;
Amendment 137 #
Draft opinion Paragraph 10 b (new) 10b. Points out that Member States must at least inform their national parliaments before January of the contents of their National Reform Programmes (NRPs) and Stability and Convergence Programmes (SCPs); points out, further, that alongside these programmes they should also include the record of the corresponding debate held in the national parliament; points out that, in the absence of such a record, the Commission must return the NRPs and SCPs and deem them not to have been submitted, initiating the appropriate procedure in line with the 2-pack and 6-pack regulations; recommends that national parliaments should in any case adopt the NRPs and SCPs, rather than merely being informed of them;
Amendment 138 #
Draft opinion Paragraph 10 c (new) 10c. Calls for it to be mandatory for Member States to include as an annex to the NRPs and SCPs a record of the opinion of the most representative social organisations and civil society;
Amendment 139 #
Draft opinion Paragraph 10 d (new) 10d. Calls for the official establishment of a debate between the Commission, the Council and the European Parliament along with social organisations and civil society at European level between the publication of the Annual Growth Survey and the March European Council, and before the European Council approves the country-specific recommendations;
Amendment 14 #
Draft opinion Paragraph 1 1. Is pleased with the European economic governance framework, which, by coordinating policies more closely in order to prevent major imbalances, fosters
Amendment 140 #
Draft opinion Paragraph 10 e (new) 10e. Calls for the European Semester to include an obligation to draw up national employment programmes which assess the policies designed to promote job creation, the labour markets, quality employment, adequate wages and the required level of flexibility and security in labour law;
Amendment 15 #
Draft opinion Paragraph 1 1. Is pleased with the European economic governance framework, which, by coordinating policies more closely in order to prevent major imbalances, fosters smart, sustainable and inclusive growth in line with the targets set by the Europe 2020 strategy; Is pleased that the European economic governance framework has shown progress in addressing fiscal consolidation with EU28 overall debt falling from 4.5 % of GDP in 2011 to a forecast of 3 % of GDP in 2014;
Amendment 16 #
Draft opinion Paragraph 1 1.
Amendment 17 #
Draft opinion Paragraph 1 1.
Amendment 18 #
Draft opinion Paragraph 1 1.
Amendment 19 #
Draft opinion Paragraph 1 1.
Amendment 2 #
Draft opinion Recital B (new) B. whereas the governance mechanisms introduced with the ‘2-pack’ and the ‘6- pack’ have been unable to guarantee a balance between the social pillar of EMU (Article 148 of the Treaty on the Functioning of the European Union) and the economic pillar (Article 121 TFEU), which means it is vital to guarantee a social dimension for economic governance at the various levels of the Union, as laid down in Article 9 TFEU;
Amendment 20 #
Draft opinion Paragraph 1 a (new) 1a. Calls for economic and monetary union to be made more social in order to improve economic governance, reduce unemployment, poverty, and social exclusion, overcome social dumping, and prevent a race to the bottom in terms of social standards; calls in addition for a social progress pact laying down binding common standards for employment, education, and research and development;
Amendment 21 #
Draft opinion Paragraph 1 a (new) 1a. Deeply regrets that the Commission Communication does not do justice to the fact that the 6-pack failed and calls on the Commission to propose a revision of the 6-pack; calls on the European Commission to live up to President Juncker’s commitment to a social Triple A rating by refocussing the economic governance framework on the delivery of the EU2020 targets, with economic, employment, education and poverty and social exclusion targets on an equal footing and to put an end to those policies in the economic governance framework which have been counterproductive to achieving the 2020 targets;
Amendment 22 #
Draft opinion Paragraph 1 a (new) 1a. Underlines that the European Union’s economic governance framework is an indispensable steering instrument to detect, prevent, and correct problematic economic trends such as excessive government deficits or public debt levels, which have proofed in the debt crisis to cause sharp reductions in growth, enormous unemployment and which put the European economies and the European project at a risk;
Amendment 23 #
Draft opinion Paragraph 1 a (new) 1a. Is concerned that the current economic governance framework does not give due importance to employment and social considerations, thus making it much more difficult to achieve the headline targets of the EU2020 strategy;
Amendment 24 #
Draft opinion Paragraph 1 b (new) 1b. Expresses regret that the current economic governance policy remains focused solely on economic growth without acknowledging the need for an inclusive, rights-based and sustainable approach; stresses that the benefits of growth need to be spread throughout society for it to become sustainable and inclusive;
Amendment 25 #
Draft opinion Paragraph 1 b (new) 1b. Emphasises, that as a principle countries in the Euro zone that received support from the partners to finance their economies must fulfil the according rules, programs and agreements; underlines that this is a matter of respect for the tax payers in the partner countries in return for their big solidarity efforts;
Amendment 26 #
Draft opinion Paragraph 1 b (new) 1b. Agrees with Commissioner Thyssen’s statement that countries that provide high quality jobs, better social protection and invest in human capital are more resilient to economic crises; calls on the Commission to reflect this position moving forward in all of its European semester policy and country-specific recommendations;
Amendment 27 #
Draft opinion Paragraph 1 c (new) 1c. Underlines that solidarity is the core value on which the European Union and the European Union’s economic governance framework is built on; thanks therefore the people and tax payers in Europe for showing great solidarity with the people in countries effected by the debt crisis;
Amendment 28 #
Draft opinion Paragraph 1 d (new) 1d. Emphasizes that Member States which imposed the structural reforms negotiated via the European Union’s economic governance framework are successful in regaining competiveness in the global market, in creating growth and jobs, as well as in building up confidence on the financial markets;
Amendment 29 #
Draft opinion Paragraph 1 e (new) 1e. Is deeply concerned that slowing down structural reforms or withdrawing parts of them leads to capital flight, stock exchange crashes, sharp reductions in growth and high unemployment rates;
Amendment 3 #
Draft opinion Recital C (new) C. whereas in its resolution of 1 December 2011 on the European Semester for Economic Policy Coordination, Parliament stated that ‘any new or upgraded organisation and decision-making process within the Council and/or the Commission must go hand in hand with upgraded democratic legitimacy and appropriate accountability to the European Parliament’;
Amendment 30 #
Draft opinion Paragraph 2 2.
Amendment 31 #
Draft opinion Paragraph 2 2. Welcomes the Commission's initiative to conduct an initial review of the framework's effectiveness with a view to assessing the effective and uniform application of governance rules by the Member States and by the Commission; also suggests that the review presents an opportunity for an exchange of views with the European Parliament's committees responsible on the ways in which the framework could be deepened;
Amendment 32 #
Draft opinion Paragraph 2 2. Welcomes the Commission’s initiative to conduct an initial review of the framework’s effectiveness with a view to assessing the
Amendment 33 #
Draft opinion Paragraph 2 2.
Amendment 34 #
Draft opinion Paragraph 2 2. Welcomes the Commission’s initiative to conduct an initial review of the framework
Amendment 35 #
Draft opinion Paragraph 2 2. Welcomes the Commission's initiative to conduct an initial review of the framework's effectiveness with a view to assessing the effective and uniform application of governance rules by the Member States and by the Commission, as well as the pertinence thereof; also suggests that the review presents an opportunity for an exchange of views on the ways in which the framework could be
Amendment 36 #
Draft opinion Paragraph 2 2. Welcomes the Commission's initiative to conduct an initial review of the framework's effectiveness with a view to assessing the effective and uniform application of governance rules by the Member States and by the Commission; also suggests that the review presents an opportunity for an exchange of views on the ways in which the existing framework could be
Amendment 37 #
Draft opinion Paragraph 2 2. Welcomes the Commission’s initiative to conduct an initial review of the framework’s effectiveness with a view to assessing the effective and uniform application of governance rules by the Member States and by the Commission; also suggests that the review presents an opportunity for an exchange of views on the ways in which the framework could be deepened; Suggests that the review in addition focuses on measures that will enhance private trust in the economy as trust is a precondition for private investments which is a precondition for job-creation;
Amendment 38 #
Draft opinion Paragraph 2 2. Welcomes the Commission’s initiative to conduct an initial review of the framework’s effectiveness with a view to assessing the effective and uniform application of governance rules by the Member States and by the Commission;
Amendment 39 #
Draft opinion Paragraph 2 2. Welcomes the Commission’s initiative to conduct an initial review of the framework’s effectiveness with a view to assessing the effective and uniform application of governance rules by the Member States and by the Commission; also suggests that the review presents an opportunity for an exchange of views on the ways in which the framework could be
Amendment 4 #
Draft opinion Paragraph 1 Amendment 40 #
Draft opinion Paragraph 2 2. Welcomes the Commission’s initiative to conduct an initial review of the framework’s effectiveness with a view to assessing the effective and uniform application of
Amendment 41 #
Draft opinion Paragraph 2 a (new) 2a. Notes, even in the absence of hindsight, that the European economic governance framework bears the seeds of its own ineffectiveness, given the highly unstable political and monetary terrain on which it is based;
Amendment 42 #
Draft opinion Paragraph 2 a (new) 2a. Takes the view that recognition today by the Commission of the need for a massive investment programme constitutes a major shift in approach by the economic governance framework that has been discouraging investment over the last few years;
Amendment 43 #
Draft opinion Paragraph 2 a (new) 2a. Believes, therefore, that this review presents an opportunity so as to develop a new socio-economic framework with a comprehensive strategy to enforce the European social Acquis; stresses the importance of a better coordination system for the Euro Area as a whole;
Amendment 44 #
Draft opinion Paragraph 2 a (new) 2a. Highlights the need to develop European automatic stabilising mechanisms to address asymmetric economic shocks, such as an EMU-wide unemployment benefit scheme, as a means to maintain social cohesion, support internal demand and strengthen the sustainability of the single currency; reiterates its call on the Commission to produce a Green Paper on automatic stabilisers in the Eurozone;
Amendment 45 #
Draft opinion Paragraph 2 b (new) 2b. Stresses in this respect the need for a favourable public-sector investment climate; calls in particular for the neutralisation of public investment in calculating Member State debt, especially given the impact of the new SEC2010 accounting standards on the investment capacity of certain public authorities; calls for European Central Bank decision making to be adapted accordingly;
Amendment 46 #
Draft opinion Paragraph 3 Amendment 47 #
Draft opinion Paragraph 3 3. Calls for the European Semester to be
Amendment 48 #
Draft opinion Paragraph 3 3. Calls for
Amendment 49 #
Draft opinion Paragraph 3 3. Calls for the European Semester to be
Amendment 5 #
Draft opinion Paragraph 1 1.
Amendment 50 #
Draft opinion Paragraph 3 3. Calls for the European Semester to be strengthened and deepened as a
Amendment 51 #
Draft opinion Paragraph 3 3. Calls for the European Semester to be
Amendment 52 #
Draft opinion Paragraph 3 3. Calls for the European Semester to be strengthened and
Amendment 53 #
Draft opinion Paragraph 3 3. Calls for the European Semester to be strengthened and deepened as
Amendment 54 #
Draft opinion Paragraph 3 3. Calls for the European Semester to be strengthened and deepened as an effective way of preventing a crisis: with this in mind, welcomes the Commission's proposal to focus its action not only on budget responsibility but also on investment and structural reform in order to link the market economy with social
Amendment 55 #
Draft opinion Paragraph 3 3. Calls for the European Semester to be
Amendment 56 #
Draft opinion Paragraph 3 3. Calls for the European Semester to be strengthened and deepened as an effective way of preventing a crisis and foster smart, sustainable and inclusive growth ; with this in mind, welcomes the Commission’s proposal to focus its action not only on budget responsibility but also on investment and structural reform in order to link the social market economy with social progress and cohesion;
Amendment 57 #
Draft opinion Paragraph 3 3. Calls for the European Semester to be strengthened and deepened as an effective
Amendment 58 #
Draft opinion Paragraph 3 3.
Amendment 59 #
Draft opinion Paragraph 3 3. Calls for the European Semester to be strengthened and deepened as an effective way of preventing a crisis; with this in mind, welcomes the Commission’s proposal to focus its action not only on budget responsibility but also on
Amendment 6 #
Draft opinion Paragraph 1 1. Is pleased with the European economic governance framework,
Amendment 60 #
Draft opinion Paragraph 3 a (new) 3a. Notes that, in view of the fragmentary, inadequate and ineffective nature of the indicators used, the very principle of the semester is out of step with the social sector;
Amendment 61 #
Draft opinion Paragraph 3 a (new) 3a. Notes that the structural reforms introduced by those Member States worst affected have not borne fruit; urges that the austerity policy blindly followed in Europe be reviewed accordingly and public investment stepped up in response to the situation;
Amendment 62 #
Draft opinion Paragraph 3 a (new) 3a. Stresses that a balance between employment policy and economic policy pursuant to Article 121 TFEU and Article 148 TFEU is necessary for a positive development of the EU; calls for a social protocol to the Treaties to protect fundamental social and labour rights so that social rights are put on equal footing to economic freedoms;
Amendment 63 #
Draft opinion Paragraph 3 a (new) 3a. Calls for greater economic and social cohesion to be provided by strengthening the European Social Fund and the Cohesion Fund in order to preserve and create jobs with rights by supporting measures to combat unemployment and poverty;
Amendment 64 #
Draft opinion Paragraph 4 4. Proposes that joint meetings between the EPSCO Council and the Ecofin Council be held with a view to promoting coordinated socio-economic policies geared towards strengthening competitiveness in Europe and giving
Amendment 65 #
Draft opinion Paragraph 4 4. Proposes that joint meetings between the EPSCO Council and the Ecofin Council be held with a view to promoting
Amendment 66 #
Draft opinion Paragraph 4 4. Proposes that joint meetings between the EPSCO Council and the Ecofin Council be held with a view to promoting coordinated socio-economic policies geared towards
Amendment 67 #
Draft opinion Paragraph 4 4.
Amendment 68 #
Draft opinion Paragraph 4 4. Proposes that joint meetings between the EPSCO Council and the Ecofin Council be held with a view to promoting coordinated socio-economic policies geared towards
Amendment 69 #
Draft opinion Paragraph 4 4.
Amendment 7 #
Draft opinion Paragraph 1 1. Is pleased with the European economic governance framework, which, by coordinating policies more closely in order
Amendment 70 #
Draft opinion Paragraph 4 4.
Amendment 71 #
Draft opinion Paragraph 5 5. Emphasises that the social indicators scoreboard in the Alert Mechanism Report is an important first step in order to identify, in advance, the social impact of measures designed to correct macroeconomic imbalances; calls on the Commission to
Amendment 72 #
Draft opinion Paragraph 5 5. Emphasises that the social indicators scoreboard in the Alert Mechanism Report is important in order to identify, in advance, the social impact of measures designed to correct macroeconomic imbalances, the object being to ensure that no instruments or measures will be implemented without taking into account the social situation in the Member States and the differences existing from one country to the next; calls on the Commission to assess its scope and effectiveness;
Amendment 73 #
Draft opinion Paragraph 5 5. Emphasises that including the social indicators scoreboard in the Alert Mechanism Report is
Amendment 74 #
Draft opinion Paragraph 5 5. Emphasises that the social indicators scoreboard in the Alert Mechanism Report is important in order to identify, in advance, the social impact of measures designed to correct macroeconomic imbalances; calls on the Commission to assess its scope and effectiveness and to examine the extent to which the existing indicators and the surveys undertaken by Eurostat are effective and take into account the relevant Member State’s special features, social characteristics and results achieved in terms of their own base values (at the same time as investigating the rate of recovery, the basis for recovery and growth and their sustainability);
Amendment 75 #
Draft opinion Paragraph 5 5. Emphasises that the social indicators scoreboard in the Alert Mechanism Report is important in order to identify, in advance, the social impact of measures designed to correct macroeconomic imbalances; calls on the Commission to
Amendment 76 #
Draft opinion Paragraph 5 a (new) 5a. Notes that certain essential information is missing from the scoreboard, such as quantitative, qualitative and geographical data regarding job offers and business bankruptcy rates;
Amendment 77 #
Draft opinion Paragraph 5 a (new) 5a. Calls on the Commission to present as soon as possible a revision of the Macroeconomic Imbalances Procedure and the Alert Mechanism in Regulations 1176/2011/EU and 1174/2011/EU addressing (a) a change of indicators and thresholds, moving from cost competiveness to a broader understanding of competitiveness including the quality of human capital, labour market participation, capital costs, resource efficiency, energy efficiency and inequality (b) symmetry in the MIP procedure regarding current accounts treating surpluses similarly to deficits;
Amendment 78 #
Draft opinion Paragraph 5 a (new) 5a. Calls for the specific rules on binding supervision of budgetary discipline in the euro area to include employment, redistribution and social indicators such as quality employment, poverty, child poverty or access to housing, just as there are macro-economic indicators that ensure budget sustainability and the sustainability of the social model;
Amendment 79 #
Draft opinion Paragraph 5 b (new) 5b. Stresses that excessive inequality should be a trigger within the Alert Mechanism system as it destabilizes societies and puts cohesion as well as economic performance at risk; Stresses that an increase in inequality, as experienced in the EU and documented by the country reporting in the Semester, involves major democratic risks; points to the warnings by the IMF and the ILO that a further rise in inequalities in the EU could destabilise our societies;
Amendment 8 #
Draft opinion Paragraph 1 1. Is
Amendment 80 #
Draft opinion Paragraph 6 6. Calls on the
Amendment 81 #
Draft opinion Paragraph 6 6. Calls on the Member States to implement the country-specific recommendations so as to support growth and jobs, first and foremost through provision for citizen’s income and a basic income guarantee; calls on the Commission to submit to the European Parliament an annual assessment of the progress made as regards the effective implementation of those recommendations, and points out that the assessment could be included as an annex to the Annual Growth Report;
Amendment 82 #
Draft opinion Paragraph 6 6. Calls on the Member States to implement the country-specific recommendations so as to support
Amendment 83 #
Draft opinion Paragraph 6 6. Calls on the
Amendment 84 #
Draft opinion Paragraph 6 6. Calls on the Member States to implement the country-specific recommendations so as to support growth
Amendment 85 #
Draft opinion Paragraph 6 a (new) 6a. Reminds the Commission that while wages are considered an important element in resolving euro-area macro- economic imbalances, they are not merely a tool for economic adjustment, but above all the income that workers need to live on; calls on the Commission to ensure that recommendations in the field of wages do not increase in-work poverty or wage inequalities within Member States, or harm low-income groups;
Amendment 86 #
Draft opinion Paragraph 7 7. Calls on the Commission, in tandem with the EIB, to make it easier for SMEs
Amendment 87 #
Draft opinion Paragraph 7 7.
Amendment 88 #
Draft opinion Paragraph 7 7. Calls on the Commission, in tandem with the EIB, to make it easier for SMEs –
Amendment 89 #
Draft opinion Paragraph 7 7. Calls on the Commission, in tandem with the EIB, to
Amendment 9 #
Draft opinion Paragraph 1 1.
Amendment 90 #
Draft opinion Paragraph 7 7. Calls on the Commission, in tandem with the EIB, to make it easier for SMEs – the main sources of jobs in Europe – to access financing from the European Fund for Strategic Investments, in connection with the European Investment Fund, while at the same time keeping the situation under review and ensuring that the funds are managed properly;
Amendment 91 #
Draft opinion Paragraph 7 7. Calls on the Commission, in tandem with the EIB, to make it easier for SMEs – the main sources of jobs and job-creation in Europe – to access financing from the European Fund for Strategic Investments, in connection with the European Investment Fund; Underlines the importance of new growth and job- creation for public acceptance of the European economic governance framework, calls therefore for the Commission to take measures to increase trust in the economy and to improve the business environment with particular attention to SMEs, removal of red tape and access to finance;
Amendment 92 #
Draft opinion Paragraph 7 a (new) 7a. Deplores the EU’s totally contradictory attitude of imposing liberalisation of services but increasing the number of compulsory standards in a way that is bringing the SMEs to their knees rather than protecting them;
Amendment 93 #
Draft opinion Paragraph 7 a (new) 7a. Believes that the economic governance framework must help to set up the right environment in Europe to foster entrepreneurship, particularly amongst younger people; is concerned that over the course of the crisis, SMEs have experienced a decline in employment share;
Amendment 94 #
Draft opinion Paragraph 7 b (new) 7b. Notes that the SMEs provide an inexhaustible supply of jobs but their financial difficulties resulting from the current economic situation have led to the increase in unemployment;
Amendment 95 #
Draft opinion Paragraph 7 b (new) 7b. Notes that shifting taxation away from labour can help stimulate growth and increase employment rates;
Amendment 96 #
Draft opinion Paragraph 8 Amendment 97 #
Draft opinion Paragraph 8 8. With a view to improving the effectiveness and focus of budget policies, calls on the Member States to press ahead with their efforts to modernise their labour markets and social security systems; with this in mind, encourages them to share best practices; points out, moreover, that optimum integration of the labour markets remains a medium-term objective for promoting social progress in a balanced, competitive environment;
Amendment 98 #
Draft opinion Paragraph 8 8. With a view to improving the effectiveness and focus of budget policies, calls on the Member States to press ahead with their efforts to modernise their labour markets and social security systems; points out, moreover, that modernisation must not only be about lowering standards as regards protecting workers’ rights and reducing social security; with this in mind, encourages
Amendment 99 #
Draft opinion Paragraph 8 8. With a view to improving the effectiveness and focus of budget policies,
source: 546.881
2015/02/11
IMCO
55 amendments...
Amendment 1 #
Draft opinion Recital – A a (new) - Aa. whereas, under Article 3.3 of the Treaty on European Union, 'the Union shall establish an internal market. It shall work for the sustainable development of Europe based on balanced economic growth and price stability, a highly competitive social market economy, aiming at full employment and social progress, and a high level of protection and improvement of the quality of the environment. It shall promote scientific and technological advance'; and whereas under Article 7 of the Treaty on the Functioning of the European Union, 'consumer protection requirements shall be taken into account in defining and implementing other Union policies and activities';
Amendment 10 #
Draft opinion Recital B B. whereas the Commission should monitor the
Amendment 11 #
Draft opinion Recital B B. whereas the Commission should monitor the completion of the Single Market and the quality of the actual implementation of
Amendment 12 #
Draft opinion Recital B a (new) Ba. whereas the completion of the Single Market in the field of public procurement and consumer protection would contribute to an increase in GDP of € 300 billion per year;
Amendment 13 #
Draft opinion Recital B a (new) Ba. whereas a European Investment Plan is being put in place to raise EUR 315 billion in new investments over the next three years;
Amendment 14 #
Draft opinion Recital B b (new) Bb. whereas the European Union faces a profound competitiveness crisis in an increasingly challenging global economy and in the Single Market, in which only competitive economies will be able to create jobs and raise the living standards of their citizens;
Amendment 15 #
Draft opinion Paragraph - 1 (new) - 1. Welcomes the fact that the communication of the Commission "An Investment Plan for Europe", the communication on "Making the best use of the flexibility within the existing rules of the Stability and Growth Pact" and the proposal for a regulation on the European Fund for Strategic Investments underline as a priority the need to directly link the review of the economic governance framework to the needs of the real economy and to complete the Single Market and create a Digital Single Market;
Amendment 16 #
Draft opinion Paragraph 1 1. Considers the economic governance framework to be a key political initiative that underpins the foundations of the Europe 2020 goals and flagship initiatives which are aimed at fully exploiting the Single Market’s untapped growth potential; underlines the fact that the economic crisis has clearly shown the importance of strengthening the EU’s innovation potential by facilitating market access and mobility and combating Single Market fragmentation across the Union while fostering high-employment growth and economic convergence among Member States and bridging the gap between Euro and non-Euro Member States;
Amendment 17 #
Draft opinion Paragraph 1 1. Considers th
Amendment 18 #
Draft opinion Paragraph 1 1. Considers the economic governance framework to be a key political initiative that underpins the foundations of the Europe 2020 goals and flagship initiatives which are aimed at fully exploiting the Single Market’s untapped growth potential; stresses that the Single Market is the key driver for growth and jobs, and that the key areas for growth are the Digital Single Market, a genuine market for cross-border online sales for goods, services and public procurement; underlines the fact that the economic crisis has clearly shown the importance of strengthening the EU’s innovation potential by facilitating market access and mobility and combating Single Market fragmentation across the Union;
Amendment 19 #
Draft opinion Paragraph 1 1. Considers the economic governance framework to be a
Amendment 2 #
Draft opinion Recital – A a (new) - Aa. whereas as a consequence of the economic and financial crisis, the level of investments in the EU has dropped by about 15% since its peak in 2007;
Amendment 20 #
Draft opinion Paragraph 1 1. Considers the economic governance framework to be a key political initiative that underpins the foundations of the Europe 2020 goals and flagship initiatives which are aimed at fully exploiting the Single Market’s untapped growth potential; underlines the fact that the economic crisis has clearly shown the importance of strengthening
Amendment 21 #
Draft opinion Paragraph 1 1.
Amendment 22 #
Draft opinion Paragraph 1 1. Considers the economic governance framework to be a key political initiative that underpins the foundations of the Europe 2020 goals and flagship initiatives which are aimed at fully exploiting the Single Market’s untapped growth potential; underlines the fact that the economic crisis has clearly shown the importance of strengthening the EU’s innovation potential by facilitating market access and
Amendment 23 #
Draft opinion Paragraph 1 a (new) 1a. Is pleased that the European economic governance framework has shown progress in addressing fiscal consolidation with EU28 overall debt falling from 4.5% of GDP in 2011 to a forecast of around 3% of GDP in 2014;
Amendment 24 #
Draft opinion Paragraph 1 a (new) 1a. Believes that the revision of the European economic governance should go hand in hand with the revision of the overarching EU 2020 strategy and the European Semester cycle with a view to foster sustainable and competitive growth; calls therefore for a new approach to the Single Market and the Digital Single Market to be taken within the revision of the EU2020 strategy by duly incorporating priority sectors/targets of the Single Market within a new simplified set of guidelines, headlines or flagship initiatives;
Amendment 25 #
Draft opinion Paragraph 2 2. Welcomes the review of the framework’s effectiveness
Amendment 26 #
Draft opinion Paragraph 2 2. Welcomes the review of the framework’s effectiveness, with a view to assessing the effective and uniform application of governance rules by the Commission, the Council and the Member States; believes that only where relevant this review should
Amendment 27 #
Draft opinion Paragraph 2 2. Welcomes the review of the framework’s effectiveness, with a view to assessing the effective and uniform application of governance rules by the Commission, the Council and the Member States; considers however that putting debt levels on a sustainable track cannot be achieved through massive budgetary cuts in basic welfare systems, which has dramatic social consequences and is damaging the European recovery; underlines therefore the need for a more balanced approach between the short- term objective of cutting deficits and long- term policies; believes that this review should also inspire a re-evaluation of the Single Market governance framework and explore possible synergy effects between the two processes;
Amendment 28 #
Draft opinion Paragraph 3 3. Reiterates its call for the procedures to provide for the appropriate involvement of the European Parliament in the economic governance cycle,
Amendment 29 #
Draft opinion Paragraph 3 3. Reiterates its call for the procedures to provide for the appropriate involvement of the European Parliament in the economic governance cycle, paving the way for the adoption, by Parliament and the Council, of
Amendment 3 #
Draft opinion Recital - A b (new) - Ab. whereas such investment gap hampers economic recovery, job creation, long-term growth and competitiveness of our industrial sector and of the Single Market at large and poses risks to reaching the targets set by the Europe 2020 Strategy;
Amendment 30 #
Draft opinion Paragraph 3 3. Reiterates its call for the procedures to provide for the appropriate involvement of the European Parliament in the economic governance cycle, paving the way for the adoption, by Parliament and the Council, of the measures necessary to strengthen Single Market governance, and in particular those which address the areas in which the Union’s regulatory framework has been established in accordance with the ordinary legislative procedure laid down in Article 294 of the Treaty on the Functioning of the European Union; asks for a revision of the economic governance legal framework in order to better take into consideration the need to boost investments in the real economy;
Amendment 31 #
Draft opinion Paragraph 3 a (new) 3a. Reiterates its call on the Commission and the Council to enter into an interinstitutional agreement with the European Parliament in order to fully guarantee the role of the Parliament within the whole Semester process;
Amendment 32 #
3b. Calls for the economic governance regulations to be revised so as to make the following changes to the European Semester process: (a) before the Annual Growth Survey is published, the Commission must hold a debate with representatives of the European Parliament on the survey’s broad guidelines; (b) following publication and before the corresponding debate at the European Council meeting, trilogues must be held between the three institutions to agree on an economic framework, one for jobs and one for social policies; (c) following adoption of the report on Annual Growth Survey and before the corresponding debate at the European Council meeting, trilogues must be held between the three institutions to agree on an economic framework, one for jobs and one for social policies;
Amendment 33 #
Draft opinion Paragraph 4 4. Believes that the economic governance framework needs to be inclusive and that political priorities also have to be discussed in a more comprehensive manner, including a discussion between European Institutions and economic and social stakeholders between the publication of the AGS and the March European Council and before the European Council endorses CSRs, in order to distribute the spread of national ownership and effectively implement both economic governance and Single Market
Amendment 34 #
Draft opinion Paragraph 4 4. Believes that the economic governance framework needs to
Amendment 35 #
Draft opinion Paragraph 4 4. Believes that the economic governance framework needs to be inclusive and that political priorities also have to be discussed in a more comprehensive manner, in order to distribute the spread of national ownership and effectively implement
Amendment 36 #
Draft opinion Paragraph 4 4. Believes that the economic governance framework needs to be inclusive and that political priorities also have to be discussed in a more comprehensive manner, in order to distribute the spread of national ownership and effectively implement both economic governance and Single Market governance; underlines the importance of new growth and job-creation for the public acceptance of the economic governance framework, and calls therefore for the Commission to improve the business environment in Europe with particular attention to SMEs, removal of red tape and access to finance; recalls in that respect the necessity to provide support to SMEs to also access non-EU markets such as the US, Canada, China and India;
Amendment 37 #
Draft opinion Paragraph 4 4. Believes that the economic governance framework needs to be inclusive, more transparent and less complex and that
Amendment 38 #
Draft opinion Paragraph 4 a (new) 4a. Considers that the current European economic governance framework, focuses more on fiscal stability (i.e. reducing the public deficit and public sector debt) and reducing costs, while the objectives of economic recovery, sustainable growth, and the creation of more and better jobs receive too little attention;
Amendment 39 #
Draft opinion Paragraph 4 b (new) 4b. Believes that a monetary union cannot function effectively and correctly without a fiscal and economic union, in this context, believes that current trends in respect of fragmentation of the European financial markets should be stopped (the most obvious source of financial market fragmentation is the existence of different currencies);
Amendment 4 #
Draft opinion Recital A A. whereas the review and improvement of the economic governance framework should be based on a set of interconnected and mutually consistent policies that foster growth and employment, and whereas the full development of
Amendment 40 #
Draft opinion Paragraph 4 c (new) 4c. Considers that financial integration is very important for the EU economy, considers that a well-integrated financial system facilitates the smooth implementation of monetary policy and the balanced transmission of its effects throughout the euro area, contributing to financial stability by creating larger markets more liquid and competitive, providing greater opportunities and diversifies funding risk;
Amendment 41 #
Draft opinion Paragraph 4 d (new) 4d. Considers that a single market cannot function while there are large discrepancies between Member States; believes that , in order to be competitive, Member States should start from an equal premise, believes thus that, besides the need for the development of a monetary union, banking union, tax union and economic union an energy union and transport union should also be a top priority;
Amendment 42 #
Draft opinion Paragraph 5 5. Insists that the evaluation of the state of the Single Market should be made an integral part of the economic governance framework, laying the foundation for an annual Single Market cycle
Amendment 43 #
Draft opinion Paragraph 5 5.
Amendment 44 #
Draft opinion Paragraph 5 5. Insists that the evaluation of the state of the Single Market should be made an integral part of the economic governance framework, laying the foundation for an annual Single Market cycle by reinforcing a pillar dedicated to the Single Market within the European Semester; underlines that the full implementation of the revised public procurement directives, particularly its rules on award criteria, can help public authorities to better spend public resources and avoid in the long run unnecessary environmental and social costs, and thereby positively affect the stability of public finances;
Amendment 45 #
Draft opinion Paragraph 5 a (new) 5a. Strongly believes that efforts must be concentrated on the key priorities of the pillars within the European Semester; emphasises the importance of focusing on areas which deliver significant European added-value in line with the principles of subsidiarity and proportionality; calls on the Commission to work with the Member States to identify ways of ensuring these principles can be more effectively implemented;
Amendment 46 #
Draft opinion Paragraph 6 6. Calls on the Commission to submit to Parliament an annual report on Single Market integration, assessing the effectiveness of the implementation of the country-specific recommendations, and therefore points out th
Amendment 47 #
Draft opinion Paragraph 6 6. Calls on the Commission to submit to Parliament an annual report on Single Market integration with particular regards to key areas with the greatest growth potential and creation of quality employment, assessing the effectiveness of the implementation of the country-specific recommendations, and points out that the assessment could be provided as a contribution to the Annual Growth Survey;
Amendment 48 #
Draft opinion Paragraph 6 6. Calls on the Commission to submit to Parliament an annual report on the effectiveness of the Single Market
Amendment 49 #
Draft opinion Paragraph 7 7. Recalls that good economic governance and the impact thereof can be effective only if all stakeholders are involved; stresses the need of an holistic approach by the EU, the Member States, the regions, municipalities, social partners and stakeholders in the implementation and development of policies; invites the Commission and the Member States to secure the democratic principle of civil dialogue through the structured involvement of relevant stakeholders in economic governance, and in particular in the European Semester process.
Amendment 5 #
Draft opinion Recital A A. whereas the improvement of the economic governance framework should be based on a set of interconnected and mutually consistent policies that foster growth, competitiveness and employment, and whereas
Amendment 50 #
Draft opinion Paragraph 7 7. Recalls that good economic governance and the impact thereof can be effective only if
Amendment 51 #
Draft opinion Paragraph 7 7. Recalls that good economic governance and the impact thereof can be effective only if all stakeholders are involved, including social partners, consumer and social and environmental NGOs; invites the Commission and the Member States to secure the democratic principle of civil dialogue through the structured involvement of relevant stakeholders in economic governance, and in particular in the European Semester process.
Amendment 52 #
Draft opinion Paragraph 7 a (new) 7a. Supports all the incentives to finance the new European Fund for Strategic Investments (EFSI), mainly by making national contributions to the fund fiscally neutral as regards the SGP;
Amendment 53 #
Draft opinion Paragraph 7 b (new) 7b. Highlights the opportunity of channelling extra public and private money to viable projects with a real added value for the European social market economy and stresses that key sectors of the Single Market - transport, energy, services and products, research and innovation - and the Digital Single Market represent the adequate (most appropriate) scale for investments to be eligible within the pipeline of investment projects;
Amendment 54 #
Draft opinion Paragraph 7 c (new) 7c. Welcomes the new room of manoeuvre offered by the investment clause as defined by the Commission in its communication on flexibility; believes that this new possibility should be used at its utmost potential in order to encourage Member States to invest more in projects with a clear European added value such as those more closely linked to the further development of the Single Market and Digital Single Market; considers that targeted investment and reforms in key growth sectors of the Single Market and in the modernisation of public administrations - notably in relation to e- government and e-procurement - should qualify as structural reforms;
Amendment 55 #
Draft opinion Paragraph 7 a (new) 7a. Is concerned of the lack of implementation of the Country Specific Recommendations (CSR) in some Member States, where only 12% of the CSRs were fully addressed in 2013; stresses that better implementation of the CSR is needed in order to support growth and jobs; calls on the Commission to strengthen the ownership of the CSR in the Member States by better involvement of the national parliaments; proposes that in order to increase the incentives for the Member States to adopt these policies the possibility to access the funds in Juncker’s Investment Plan will be dependent on whether the Member States deviates from the rules set out in the economic governance framework;
Amendment 6 #
Draft opinion Recital A A. whereas the improvement of the economic governance framework should be based on
Amendment 7 #
Draft opinion Recital A A. whereas the improvement of the economic governance framework should be based on an holistic approach through a set of interconnected and mutually consistent policies that foster
Amendment 8 #
Draft opinion Recital A A. whereas the improvement of the economic governance framework should be based on a set of interconnected and mutually consistent policies that foster growth and employment instead of focusing solely on deficit reduction, and whereas the full development of the Single Market is a prerequisite for this to happen;
Amendment 9 #
Draft opinion Recital B source: 546.648
2015/03/03
ECON
439 amendments...
Amendment 382 #
Motion for a resolution Paragraph 11 Amendment 383 #
Motion for a resolution Paragraph 11 Amendment 384 #
Motion for a resolution Paragraph 11 Amendment 385 #
Motion for a resolution Paragraph 11 11. Believes that the
Amendment 386 #
Motion for a resolution Paragraph 11 11.
Amendment 387 #
Motion for a resolution Paragraph 11 11. Believes that the structural reform clause under the preventive arm and the means of considering structural reform
Amendment 388 #
Motion for a resolution Paragraph 11 11. Believes that the structural reform clause under the preventive arm and the means of considering structural reform plans under the corrective arm constitute a
Amendment 389 #
Motion for a resolution Paragraph 11 11.
Amendment 390 #
Motion for a resolution Paragraph 11 11. Believes that the structural reform clause under the preventive arm
Amendment 391 #
Motion for a resolution Paragraph 11 a (new) 11a. Calls for a result oriented methodological guidelines regarding the eligible reforms, including cost-benefit assessments, timeframe impact, and taking explicit account of externalities as well as social and environmental returns of these reforms; calls for monitoring mechanisms for assessing reform's contribution to updated EU2020 National targets; points out that such result oriented action should also provide guidance for the assessment of reforms in the framework of the preventive and corrective arm of the SGP;
Amendment 392 #
Motion for a resolution Paragraph 11 a (new) 11a. Urges that it isn't merely the announcement of structural reforms that should constitute a relevant factor, but that a regular check of their implementation is necessary and that the Commission should not refrain from taking measures in case the reforms are not on track;
Amendment 393 #
Motion for a resolution Paragraph 11 b (new) 11b. Recalls that some structural reforms lead to additional costs, but not all do so; questions the inclusion of structural reforms not associated with costs into the categories that trigger flexibility;
Amendment 394 #
Motion for a resolution Paragraph 12 Amendment 395 #
Motion for a resolution Paragraph 12 12. Believes that structural reforms should have a clear positive socioeconomic
Amendment 396 #
Motion for a resolution Paragraph 12 12.
Amendment 397 #
Motion for a resolution Paragraph 12 12. Believes that structural reforms should have a positive socioeconomic return
Amendment 398 #
Motion for a resolution Paragraph 12 12. Believes that structural reforms should have a positive socioeconomic return and contribute to
Amendment 399 #
Motion for a resolution Paragraph 12 12. Believes that structural reforms should have a positive socioeconomic return
Amendment 400 #
Motion for a resolution Paragraph 12 12. Believes that, in the long term, shrewdly implemented structural reforms
Amendment 401 #
Motion for a resolution Paragraph 12 12. Believes that structural reforms should in the medium and long term have a positive socioeconomic return and contribute to increased administrative
Amendment 402 #
Motion for a resolution Paragraph 12 12. Believes that national structural reforms should have a positive socioeconomic return and
Amendment 403 #
Motion for a resolution Paragraph 12 12. Believes that structural reforms should be designed by national parliaments and governments, with full knowledge of each country's specific challenges and respect for the choices of its elected officials, and should have a positive socioeconomic return and contribute to increased administrative capacity;
Amendment 404 #
Motion for a resolution Paragraph 12 12. Believes that structural reforms should have a positive
Amendment 405 #
Motion for a resolution Paragraph 12 12. Believes that structural reforms should have a positive socioeconomic return including an impact on long term competitiveness, convergence and contribute to increased administrative capacity;
Amendment 406 #
Motion for a resolution Paragraph 12 12. Believes that
Amendment 407 #
Motion for a resolution Paragraph 12 a (new) 12a. Stresses that structural reforms shall not be based on budgetary simplistic numerical targets and shall pursue fiscal responsibility by looking at qualitative targets, such as the efficiency and quality of public spending, the transparency and accountability in the allocation of resources; the level of spending in social protection and public goods;
Amendment 408 #
Motion for a resolution Paragraph 12 a (new) 12a. Recommends consequently that further proposals for structural reforms should be accompanied by a social impact assessment, that estimates their impact on the lowest income strata of society, those that are at risk of poverty and the poor, while also proposing measures that would mitigate such impact.
Amendment 409 #
Motion for a resolution Paragraph 13 Amendment 410 #
Motion for a resolution Paragraph 13 Amendment 411 #
Motion for a resolution Paragraph 13 Amendment 412 #
Motion for a resolution Paragraph 13 Amendment 413 #
Motion for a resolution Paragraph 13 13.
Amendment 414 #
Motion for a resolution Paragraph 13 13.
Amendment 415 #
Motion for a resolution Paragraph 13 13. Deplores,
Amendment 416 #
Motion for a resolution Paragraph 13 13.
Amendment 417 #
Motion for a resolution Paragraph 13 13.
Amendment 418 #
Motion for a resolution Paragraph 13 a (new) 13a. Underlines that the deficit rule and the MTO rule under the Stability Growth Pact should be applied in tandem, and that for a Member State that observes the MTO rule the 3% deficit limit ensures sufficient fiscal flexibility in responding to shocks;
Amendment 419 #
Motion for a resolution Paragraph 13 a (new) 13a. Calls on the Commission and Council to apply and act in the spirit of the changes made to the SGP under the 6 and 2 pack, in particular the greater weight assigned to the debt rule and the enhanced automaticity of sanctions created by the introduction of reversed qualified majority voting in the Council decision-making process on sanctions;
Amendment 420 #
Motion for a resolution Paragraph 13 b (new) 13b. Calls on the Commission to make the receipt of EFSI funds by a Member State conditional upon that Member State's fiscal reform record, in particular considering the compliance record with the fiscal rules laid down in the SGP and the record on the progress made in the implementation of structural as assessed by the Commission;
Amendment 421 #
Motion for a resolution Subheading 3 Amendment 422 #
Motion for a resolution Subheading 3 Amendment 423 #
Motion for a resolution Subheading 3 Amendment 424 #
Motion for a resolution Subheading 3 Closer coordination
Amendment 425 #
Motion for a resolution Paragraph 14 Amendment 426 #
Motion for a resolution Paragraph 14 Amendment 427 #
Motion for a resolution Paragraph 14 14. Believes that
Amendment 428 #
Motion for a resolution Paragraph 14 14. Believes that
Amendment 429 #
Motion for a resolution Paragraph 14 14. Believes that
Amendment 430 #
Motion for a resolution Paragraph 14 14. Believes that
Amendment 431 #
Motion for a resolution Paragraph 14 14. Believes that
Amendment 432 #
Motion for a resolution Paragraph 14 14. Believes that
Amendment 433 #
Motion for a resolution Paragraph 14 14. Believes that
Amendment 434 #
Motion for a resolution Paragraph 14 14. Believes that
Amendment 435 #
Motion for a resolution Paragraph 14 14. Believes that
Amendment 436 #
Motion for a resolution Paragraph 14 14. Believes that more room for flexibility and soft laws exists under the SGP and in the European Semester; invites the Commission to build on this flexibility and to propose
Amendment 437 #
Motion for a resolution Paragraph 14 14. Believes that more room for flexibility
Amendment 438 #
Motion for a resolution Paragraph 14 a (new) 14a. Stresses that the calendar for the adoption of the Commission's opinions on Draft Budgetary Plans in application of the 2 pack 'regulation on common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area' does not allow for taking into account the first notification by Eurostat of the current year's budgetary figures;
Amendment 439 #
Motion for a resolution Paragraph 14 a (new) 14a. Draws in that regard attention to the possible contradiction between the SGP's aim to achieve budgetary surpluses in good times, and a very generous application of flexibility as now foreseen; fears that, if this flexibility would always be applied fully, it might cement the deficit-making attitude of some governments; urges the Commission to clarify how it will make sure that the deficits and the surpluses will be balanced over time, in line with the Pact's requirements;
Amendment 440 #
Motion for a resolution Paragraph 14 b (new) 14b. Strongly regrets that the Commission's Communication of flexibility does not clearly state if the various methods to apply flexibility are mutually exclusive, or if they can be applied in a cumulative way; urges the Commission to clarify this;
Amendment 441 #
Motion for a resolution Paragraph 14 c (new) 14c. Understands that the Council took note of the Commission's Communication on flexibility and underlined the need to maintain credibility and effectiveness in the implementation of the SGP;
Amendment 442 #
Motion for a resolution Paragraph 14 d (new) 14d. Recalls that in 2003 two large countries avoided being subjected to an Excessive Deficit Procedure; draws the attention to the fact that several small countries couldn't benefit from this kind of leniency and had to go through painful adjustment programmes; urges the Commission and the Council to evaluate small and big countries in the same manner; fervently hopes that there is no de facto 'too-big-to-be-blamed-country' principle;
Amendment 443 #
Motion for a resolution Paragraph 14 a (new) 14a. Believes that European fiscal rules should be defined within the existing communitarised economic governance framework; calls therefore for the replacement of existing intergovernmental agreements such as the Fiscal Compact which undermines the democratic control of the existing rules;
Amendment 444 #
Motion for a resolution Paragraph 14 b (new) 14b. Underlines however that a revision of the legal framework would be the most appropriate policy instrument for achieving a genuinely counter-cyclical approach, requiring more rapid consolidation during upsides and more room of manoeuver during periods of negative output gap and in particular in a situation where the economy is at the zero-lower bound;
Amendment 445 #
Motion for a resolution Paragraph 14 c (new) 14c. Points out that such revision could include inter alia a qualified treatment for investments by using capital budgeting methods such as the amortized cost method for accounting certain categories of high quality public investments generating large and measurable societal and environmental over periods during which unemployment and output is below its potential;
Amendment 446 #
Motion for a resolution Paragraph 14 d (new) 14d. Points out that such method would provide for a smart counter-cyclical approach by spreading the cost of capital expenditure oriented towards a more sustainable economy made during downturns over the life-cycle of the capital formation as it is a common practice in the framework of private sector accounting;
Amendment 447 #
Motion for a resolution Paragraph 15 Amendment 448 #
Motion for a resolution Paragraph 15 15. Invites the Commission and
Amendment 449 #
Motion for a resolution Paragraph 15 15. Invites the Commission and the Council to
Amendment 450 #
Motion for a resolution Paragraph 15 15. Invites the Commission and the Council to
Amendment 451 #
Motion for a resolution Paragraph 15 15. Invites the Commission and the Council to better articulate the fiscal and macroeconomic frameworks, notably in the corrective arm of the SGP, to allow for earlier debate among stakeholders, taking into account the need to increase convergence between euro area Member States and the role of national parliaments and social partners and, in the light of the allocation of powers within the Member States, the role of the regions and towns regarding the design and implementation of structural reforms;
Amendment 452 #
Motion for a resolution Paragraph 15 15. Invites the Commission and the Council to better articulate the fiscal and macroeconomic frameworks, notably in the corrective arm of the SGP, to allow for earlier and more consistent debate among stakeholders, taking into account the need to increase convergence between euro area Member States and the role of national parliaments and social partners regarding the design and implementation of structural reforms;
Amendment 453 #
Motion for a resolution Paragraph 15 15. Invites the Commission and the Council to better articulate the fiscal and macroeconomic frameworks, notably in the corrective arm of the SGP, to allow for earlier debate among stakeholders
Amendment 454 #
Motion for a resolution Paragraph 15 15. Invites the Commission and the Council
Amendment 455 #
Motion for a resolution Paragraph 15 15. Invites the Commission and the Council to better articulate the fiscal and macroeconomic frameworks, notably in the corrective arm of the SGP, to allow for earlier debate among stakeholders, taking into account the need to increase convergence between euro area Member States and the role of the European Parliament, national parliaments and social partners regarding the design and implementation of fair structural reforms;
Amendment 456 #
Motion for a resolution Paragraph 15 15. Invites the Commission and the Council to better articulate the fiscal and macroeconomic frameworks, notably in the corrective arm of the SGP, to allow for earlier debate among stakeholders, taking into account the need to increase convergence between euro area Member States and the role of national parliaments and social partners regarding the design and implementation of s
Amendment 457 #
Motion for a resolution Paragraph 15 15. Invites the Commission and the Council to better articulate the fiscal and macroeconomic frameworks
Amendment 458 #
Motion for a resolution Paragraph 15 15. Invites the Commission and the Council to better articulate the fiscal and macroeconomic frameworks and European interests that are served by it, notably in the corrective arm of the SGP, to allow for earlier debate among stakeholders, taking into account the need to increase convergence between euro area Member States and the role of national parliaments and social partners regarding the design and implementation of structural reforms;
Amendment 459 #
Motion for a resolution Paragraph 15 15. Invites the Commission and the Council to better articulate the fiscal and macroeconomic frameworks, notably in the corrective arm of the SGP, to allow for earlier debate among stakeholders, taking into account the need to increase convergence between euro area Member States and the role of national parliaments
Amendment 460 #
Motion for a resolution Paragraph 15 a (new) 15a. Calls on more active role of the national parliaments in creating national reform programmes and convergence programme and in implementation of CSRs.
Amendment 461 #
Motion for a resolution Paragraph 15 a (new) 15a. Stresses that fiscal and macroeconomic frameworks should also be worked out at regional levels, since economic divergence has increased not just between member states but also within them; that comprehensive regional data at par and in line with national data should be made available for such an exercise; and that a discussion of existing or emerging regional disparities should be a staple item of the 6 plus 2 pack review;
Amendment 462 #
Motion for a resolution Paragraph 15 b (new) 15b. Believes that more attention needs to be devoted to how convergence or divergence between member states and between regions in the euro zone is defined, tracked and measured in both economic and social terms; that rules about how this is to be updated should be drawn up and published; and outcomes recorded on the basis of such established criteria should regularly be published as part of the European semester process.
Amendment 463 #
Motion for a resolution Paragraph 16 16. Insists that the Annual Growth Survey (AGS) and euro area recommendation must be better designed and put to better use to allow for a
Amendment 464 #
Motion for a resolution Paragraph 16 16.
Amendment 465 #
Motion for a resolution Paragraph 16 16. Insists that the Annual Growth Survey (AGS) and euro area recommendation must be better designed
Amendment 466 #
Motion for a resolution Paragraph 16 16.
Amendment 467 #
Motion for a resolution Paragraph 16 16. Insists that the Annual Growth Survey (AGS) and
Amendment 468 #
Motion for a resolution Paragraph 16 16. Insists that the Annual Growth Survey (AGS) and euro area recommendation must be better designed and put to better use to allow for a global economic debate, notably as regards
Amendment 469 #
Motion for a resolution Paragraph 16 16. Insists that the Annual Growth Survey (AGS) and euro area recommendation must be better designed and put to better use to allow for a global economic debate, notably as regards convergence in the euro area; proposes that the country-specific recommendations (CSRs) should be established on the basis of striking a better balance between the AGS and the macroeconomic imbalance procedure (MIP), and suggests that the quality of the euro area recommendations should be
Amendment 470 #
Motion for a resolution Paragraph 16 16. Insists that the Annual Growth Survey (AGS) and euro area recommendation must be better designed and put to better use to allow for a global economic debate, notably as regards
Amendment 471 #
Motion for a resolution Paragraph 16 16. Insists that the Annual Growth Survey (AGS) and euro area recommendation, as well as the country-specific recommendations (CSR), must be better
Amendment 472 #
Motion for a resolution Paragraph 16 16. Insists that the Annual Growth Survey (AGS) and euro area recommendation must be better designed
Amendment 473 #
Motion for a resolution Paragraph 16 16. Insists that the Annual Growth Survey (AGS) and euro area recommendation must be better designed and put to better use to allow for a global economic debate, notably as regards convergence in the euro area; proposes that the country-specific recommendations (CSRs) should be established on the basis of striking a better balance and more coordinated approach between the AGS and the
Amendment 474 #
Motion for a resolution Paragraph 16 16. Insists that the Annual Growth Survey (AGS) and euro area recommendation must be better designed and put to better use to allow for a global economic debate, notably as regards convergence in the euro area; proposes that the country-specific recommendations (CSRs) should be established on the basis of striking a better balance between the AGS
Amendment 475 #
Motion for a resolution Paragraph 16 16.
Amendment 476 #
Motion for a resolution Paragraph 16 a (new) 16a. Calls on the Member States to base their national budgets solely on the macroeconomic forecasts compiled by the Commission for the European Semester;
Amendment 477 #
Motion for a resolution Paragraph 16 a (new) 16a. Suggests that, in connection with the Macro-economic Imbalances Procedure, use should be made of additional indicators relating to regional disparities;
Amendment 478 #
Motion for a resolution Paragraph 16 a (new) 16a. Proposes that the Country-Specific Recommendations (CSRs) should be established on the basis of striking a better balance between the Annual Growth Survey (AGS) and the macroeconomic imbalance procedure (MIP); requests that the Excessive Deficit Procedure (EDP) recommendation be joined together with the CSRs so as to combine surveillance of the fiscal position and economic policy coordination;
Amendment 479 #
Motion for a resolution Paragraph 16 a (new) 16a. Favours an enhanced process regarding the elaboration, follow-up and monitoring of Country Specific Recommendations; believes that the Commission should identify explicitly recommendations aiming at fulfilling updated EU2020 National targets; reminds that the legislation enshrines the principle according to which Member States have to 'comply or explain' with these recommendations; calls in that perspective for Member States to explain how alternative policy measures can help achieving the National EU2020 targets in a measurable way if the recommendations are not followed;
Amendment 480 #
Motion for a resolution Paragraph 16 b (new) 16b. Emphasizes that the main shortcoming of the current economic governance framework in terms of input legitimacy is a lack of sufficient an genuine involvement of the European Parliament and National Parliaments in defining and monitoring fiscal and economic policy recommendations; advocates for the adoption of an interinstitutional agreement so as to provide for an enhanced role regarding the adoption of the main EU Semester related documents (Annual Growth Survey, Alert Mechanism Report, CSRs) as well as for an active and 'step-by-step' scrutiny role devolved to National Parliaments;
Amendment 481 #
Motion for a resolution Paragraph 16 a (new) 16a. Believes that as flexibility is added to the fiscal treatment of structural reforms under existing SGP rules, more sustained political attention must also be given to the ability of the economic governance framework to monitor, foster and sustain these national-level structural reforms from commitment stage to reality.
Amendment 482 #
Motion for a resolution Paragraph 17 Amendment 483 #
Motion for a resolution Paragraph 17 Amendment 484 #
Motion for a resolution Paragraph 17 Amendment 485 #
Motion for a resolution Paragraph 17 17.
Amendment 486 #
Motion for a resolution Paragraph 17 17. Asks the Commission to
Amendment 487 #
Motion for a resolution Paragraph 17 17. Asks the Commission to verify whether the current 1/20 rule on debt reduction is su
Amendment 488 #
Motion for a resolution Paragraph 17 17.
Amendment 489 #
Motion for a resolution Paragraph 17 17. Asks the Commission
Amendment 490 #
Motion for a resolution Paragraph 17 17. Asks the Commission to verify whether the current 1/20 rule on debt reduction is sustainable and
Amendment 491 #
Motion for a resolution Paragraph 17 17. Asks the Commission to verify whether the current 1/20 rule on debt reduction is sustainable and whether it needs to be reconsidered;
Amendment 492 #
Motion for a resolution Paragraph 17 17. Asks the Commission to verify whether the current 1/20 rule on debt reduction is
Amendment 493 #
Motion for a resolution Paragraph 17 17. Asks the Commission to
Amendment 494 #
Motion for a resolution Paragraph 17 a (new) 17a. Encourages the Finance Committees of the national parliaments to systematically invite the European Commissioners responsible for economic governance to a public debate in their chambers before the draft budgets of the Member States are adopted;
Amendment 495 #
Motion for a resolution Paragraph 17 a (new) 17a. Recalls that a decrease in public spending to increase the primary budget balance and reduce public debt contributes to slower growth because of fiscal multiplier and to reducing inflation;
Amendment 496 #
Motion for a resolution Paragraph 17 b (new) 17b. Requests from the Commission that it would re-examine R472 (2013) to draw all the needed lessons from the troika and its last developments;
Amendment 497 #
Motion for a resolution Paragraph 17 a (new) 17a. Is alarmed by the rate of debt increase in countries which already have a very high level of debt; notes this is in stark contradiction with the 1/20 rule on debt reduction; requests the Commission to explain how it intends to remove this contradiction and in what time-frame;
Amendment 498 #
Motion for a resolution Paragraph 17 b (new) 17b. Recalls that the 3% deficit limit was chosen to reflect the 3% annual economic growth which was prevalent in the EU when the legislation was first set; wonders if this 3% limit isn't too high now that growth is substantially and consistently lower than that; asks the Commission to study if the sometimes unremarkable consolidation results might be due to this discrepancy;
Amendment 499 #
Motion for a resolution Paragraph 17 a (new) 17a. Asks the Commission to proceed to a thorough assessment of the Medium term Budgetary Objective as specified in the 'six pack' framework with a view of replacing it with a better framed and fine- tuned rule; underlines that a one fits all rule is not appropriate given that ultimately the debt to GDP ratio converges towards the average deficit to nominal GDP ratio;
Amendment 500 #
Motion for a resolution Paragraph 17 b (new) 17b. Calls for the revision of the debt sustainability concept on the basis of a fundamental rights oriented approach aiming at preventing that debt service obligations represent an obstacle or have priority over the provision of sufficient minimum resources for financing essential services and hence for fulfilling fundamental rights obligations,
Amendment 501 #
Motion for a resolution Paragraph 17 c (new) 17c. Favours in particular an EU wide conference on debt and the future of the Eurozone to be organized in a form of a convention with a view of delivering Treaty change so as to so as to improve democratic accountability and deepen economic integration of EMU;
Amendment 502 #
Motion for a resolution Paragraph 17 d (new) 17d. Reminds the conclusion of its troika report asking to address the need to provide debt relief to Greece and to address the severe capital outflows from therein, as well as its request to the Council to activate the framework it decided on the treatment of legacy assets so as to breakdown the vicious circle between sovereigns and the banks and alleviate the public debt burden in Ireland, Greece, Portugal and Cyprus;
Amendment 503 #
Motion for a resolution Paragraph 17 a (new) 17a. Invites the Commission analyse and discuss the economic results of a possible mutualisation of the sovereign debts, with particular reference to the overall sustainability of the debt itself;
Amendment 504 #
Motion for a resolution Paragraph 18 Amendment 505 #
Motion for a resolution Paragraph 18 18.
Amendment 506 #
Motion for a resolution Paragraph 18 18. Asks the Commission to make the
Amendment 507 #
Motion for a resolution Paragraph 18 18. Asks the Commission to make the three-pillar strategy (investment, fiscal
Amendment 508 #
Motion for a resolution Paragraph 18 18. Asks the Commission to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the
Amendment 509 #
Motion for a resolution Paragraph 18 18. Asks the Commission to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the CSRs
Amendment 510 #
Motion for a resolution Paragraph 18 18. Asks the Commission to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the CSRs and to strengthen its approach by building a fourth pillar on taxation by preparing a fiscal convergence roadmap in collaboration with the European Parliament, taking account of the work done by the Special Committee on tax rulings and other measures similar in nature or effect;
Amendment 511 #
Motion for a resolution Paragraph 18 18. Asks the Commission's to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the CSRs and to strengthen its approach by building a fourth pillar on taxation, with a particular focus on european-wide tax evasion, avoidance and arbitrage;
Amendment 512 #
Motion for a resolution Paragraph 18 18. Asks the Commission to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the CSRs and to strengthen its approach by building a fourth pillar on taxation and a fifth pillar on social Europe; agreement on a priority catalogue of structural reforms which presuppose improvements to workersʼ living conditions is particularly necessary;
Amendment 513 #
Motion for a resolution Paragraph 18 18. Asks the Commission to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the CSRs and to strengthen its approach by building a fourth pillar on taxation which would include a yearly monitoring mechanism such as developments regarding tax fraud and evasion, the state of play of environmental taxation as well as measures put in place at both national and European level to address specific CSRs for improving tax justice;
Amendment 514 #
Motion for a resolution Paragraph 18 18. Asks the Commission to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the CSRs and to
Amendment 515 #
Motion for a resolution Paragraph 18 18. Asks the Commission to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the CSRs and to strengthen its approach by building a fourth pillar on taxation without delay;
Amendment 516 #
Motion for a resolution Paragraph 18 18. Asks the Commission to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the CSRs and to strengthen its approach by building a fourth pillar
Amendment 517 #
Motion for a resolution Paragraph 18 18. Asks the Commission to make the three-pillar strategy (investment, fiscal rules and structural reforms), presented in the AGS 2015, more concrete under the euro area recommendation and in the CSRs
Amendment 518 #
Motion for a resolution Paragraph 18 a (new) 18a. Asks the Commission to present in the AGS different macroeconomic scenarios based on upside and downside risks in the forecast, therefore allowing for some flexibility in the guidance it provides;
Amendment 519 #
Motion for a resolution Paragraph 18 b (new) 18b. Calls on the Commission, when drafting the AGS, to draw upon a wide range of scientific expertise to the greatest extent possible and to integrate recommendations of the European Parliament, Member States and local & regional governments;
Amendment 520 #
Motion for a resolution Paragraph 18 c (new) 18c. Calls on the Commission to identify explicitly in the AGS potential cross- border spillover effects of major economic policy measures implemented at the EU level as well as in Member States;
Amendment 521 #
Motion for a resolution Paragraph 18 a (new) 18a. Underlines that the flagship initiative for a resource efficient Europe calls for environmentally tax subsidies to be phased-out; recalls the Commission assessment according to which there is large a policy space for shifting taxes from labour to environmental taxes;
Amendment 522 #
Motion for a resolution Paragraph 18 b (new) 18b. Underlines that according to the Commission the subsidies and externalities of the fossil fuel and nuclear based power and heat represent a cost of EUR 262 billion per year;
Amendment 523 #
Motion for a resolution Paragraph 18 c (new) 18c. Emphasizes that according to the Commission, labour taxes account for around 53% if total tax revenue in the euro area against 5.7% for environmental taxation; points out that there is a large scope for such environmentally friendly fiscal reform;
Amendment 524 #
Motion for a resolution Paragraph 18 d (new) 18d. Urges therefore that an updated EU2020 strategy as well as CSRs should include specific targets and benchmarks for both monitoring the phasing-out of market-distorting environmentally harmful subsidies by 2020 at the latest and for increasing the share of environmental taxes in proportion of the overall tax revenue by at least 5% by 2020;
Amendment 525 #
Motion for a resolution Paragraph 19 Amendment 526 #
Motion for a resolution Paragraph 19 19.
Amendment 527 #
Motion for a resolution Paragraph 19 19. Believes that national fiscal councils could play a useful role at EU level; requests the set-up of a European network allowing for an independent analysis of the economic perspective to be established as a basis for a proper political discussion among stakeholders; recalls that independent bodies due to assess the effective and timely monitoring of compliance with the rules where created by the Council directive 2011/85/EU of 8 November 2011 on requirements for budgetary frameworks of the Member States; is of the opinion that an independent analysis is also needed at the EU level; reminds that the Commission's independent Chief Economic Analyst (Decision of the President of the European Commission of 28 October 2011) was designed in response to the calls for an independent surveillance of the Commission's increased discretionary powers enshrined in the 6-pack and the 2-pack; believes that the national independent bodies should work as a network, under the leadership of the Chief Economic Analyst, to monitor the fair and transparent implementation of the EU rules' framework; calls on this monitoring to be made public;
Amendment 528 #
Motion for a resolution Paragraph 19 19. Believes that national fiscal councils could play a useful role at EU level;
Amendment 529 #
Motion for a resolution Paragraph 19 19. Believes that national fiscal councils
Amendment 530 #
Motion for a resolution Paragraph 19 19. Believes that national fiscal councils could play a useful role at EU level;
Amendment 531 #
Motion for a resolution Paragraph 19 19. Believes that national fiscal councils could play a useful role at EU level; requests the set-up of a European network allowing for an independent and pluralistic analysis of the economic perspectives to be established as a basis for a well-informed proper political discussion among stakeholders; underlines that such network should promote theoretical diversity so as to avoid group thinking:
Amendment 532 #
Motion for a resolution Paragraph 19 19. Believes that national fiscal councils could play a useful role at EU level; requests the set-up of a European network allowing for an independent analysis of the economic perspectives to be established as a basis for a proper political discussion among stakeholders;
Amendment 533 #
Motion for a resolution Paragraph 19 a (new) 19a. Suggests that such a fiscal council led by the Chief Economic Analyst could provide objective, independent and transparent analyses to both the Commission and the Council as well as the Parliament;
Amendment 534 #
Motion for a resolution Paragraph 19 a (new) 19a. Stresses that high surpluses in the core of the Eurozone, most notably in Germany, shall not be considered less alarming than high deficits in the periphery; recalls that the accumulation of unsustainable current account deficits and surpluses within the Eurozone was fuelled by the setup of the monetary union; insists therefore that macroeconomic imbalances must be considered of joint responsibility;
Amendment 535 #
Motion for a resolution Paragraph 19 a (new) 19a. Calls for the harmonisation of the economic assumptions in drawing up national budgets and a common assessment of the European and national economic situation and to have more uniformity in the presentation of public accounts so as to facilitate comparison;
Amendment 536 #
Motion for a resolution Paragraph 20 Amendment 537 #
Motion for a resolution Paragraph 20 20. Believes that the MIP
Amendment 538 #
Motion for a resolution Paragraph 20 20.
Amendment 539 #
Motion for a resolution Paragraph 20 20. Believes that the MIP must
Amendment 540 #
Motion for a resolution Paragraph 20 20. Believes that the MIP must be used in a
Amendment 541 #
Motion for a resolution Paragraph 20 20. Believes that the MIP must be used in a much more balanced manner between deficit and surplus countries
Amendment 542 #
Motion for a resolution Paragraph 20 20. Believes that the MIP must be used in a more balanced manner between deficit and surplus countries,
Amendment 543 #
Motion for a resolution Paragraph 20 20. Believes that the MIP must be used in a more
Amendment 544 #
Motion for a resolution Paragraph 20 20. Believes that the MIP must be used in a more
Amendment 545 #
Motion for a resolution Paragraph 20 20. Believes that the MIP must be used in a more balanced manner between deficit and surplus countries, also to address countries with significant room for action; urges the Commission for a revision of the MIP so as to develop diligently a fully symmetrical rationale for current account imbalances in the framework of the macroeconomic imbalances procedure;
Amendment 546 #
Motion for a resolution Paragraph 20 a (new) 20a. Recalls on the last In-depth reviews and county reports (published on 26th of February, 2015) where a number of Member States fall under excessive imbalances (category 5) and imbalance category (category 4) and requires decisive policy actions in order to remove imbalances.
Amendment 547 #
Motion for a resolution Paragraph 20 a (new) 20a. Stresses the detrimental impact of an inverse age pyramid on the pension system and the ensuing need for those Member States affected by demographic change to achieve substantial trade surpluses over a long period of time in order to be able to afford a sufficient level of pensions in the future; requests the Commission to explain how this will be taken into account in its macroeconomic surveillance procedure;
Amendment 548 #
Motion for a resolution Paragraph 20 a (new) 20a. Asks the Commission to propose specific policy measures, instruments and procedural steps to improve the 'very asymmetric nature of the rebalancing thus far, with weak domestic demand in creditor countries sustaining persistently large current account surpluses' (MIP AMR November 2014, p.2);
Amendment 549 #
Motion for a resolution Paragraph 20 b (new) 20b. Observes that, in the euro area, the crisis has revealed that, without major macroeconomic tools at national level (exchange rate, monetary policy, more or less fiscal policy), internal devaluation could be the only solution and that it deserves being compensated at the eurozone level;
Amendment 550 #
Motion for a resolution Paragraph 20 a (new) 20a. Believes that that a social impact assessment should be carried out of the long term effects that internal devaluation as implemented since 2008 has had on European peoples, especially the lower income and poor categories, which assessment should be accompanied by proposals regarding possible remedial measures;
Amendment 551 #
Motion for a resolution Paragraph 20 a (new) 20a. Calls for a public meeting to be held between the Finance Ministers of the Member States and the European Parliament’s Committee on Economic and Monetary Affairs every third quarter before the adoption of the national budgets of the Member States;
Amendment 552 #
Motion for a resolution Paragraph 20 a (new) 20a. Calls for the completion of the Scoreboard for macroeconomic imbalances with social indicators which should be on equal footing as the rest of MIP indicators; is of the opinion that such indicators must also be able to trigger corrective action and not merely to "monitor" the overall socioeconomic situation; insists that excessive unemployment, inequality and poverty are also threatening imbalances for the Eurozone; recalls its repeated requests to adopt indicators regarding resource efficiency, indicators on unit capital costs as well as other indicators relevant for monitoring progress towards updated EU2020 objectives; including non-cost competitiveness related indicators in fields such as R&D, education, and training;
Amendment 553 #
Motion for a resolution Paragraph 20 b (new) 20b. Underlines that a resource efficiency indicator to be integrated in the MIP scoreboard should in particular facilitate monitoring progress made towards the decoupling of economic development from the use of natural resources;
Amendment 554 #
Motion for a resolution Paragraph 20c (new) 20c. Is of the opinion that the MIP scoreboard should be submitted to a proper democratic scrutiny by the EU co- legislators meaning that the MIP framework should be reviewed at least in line with the European Parliament position adopted ahead of the six-pack negotiations foreseeing the adoption of the MIP Scoreboard by means of a delegated act;
Amendment 555 #
Motion for a resolution Paragraph 21 Amendment 556 #
Motion for a resolution Paragraph 21 Amendment 557 #
Motion for a resolution Paragraph 21 Amendment 558 #
Motion for a resolution Paragraph 21 21.
Amendment 559 #
Motion for a resolution Paragraph 21 21. Calls on the Commission to explore ways in which to better align the preventive and corrective arms of the SGP
Amendment 560 #
Motion for a resolution Paragraph 21 21. Calls on the Commission to explore ways in which to better align the preventive and corrective arms of the SGP
Amendment 561 #
Motion for a resolution Paragraph 21 21. Calls on the Commission to explore ways in which to better align the preventive and corrective arms of the SGP,
Amendment 562 #
Motion for a resolution Paragraph 21 21. Calls on the Commission to explore ways in which to better align the preventive and corrective arms of the SGP
Amendment 563 #
Motion for a resolution Paragraph 21 21.
Amendment 564 #
Motion for a resolution Paragraph 22 Amendment 565 #
Motion for a resolution Paragraph 22 22. Asks the Commission to
Amendment 566 #
Motion for a resolution Paragraph 22 22. Asks the Commission to
Amendment 567 #
Motion for a resolution Paragraph 22 22. Asks the Commission to take into account all relevant factors, including real growth
Amendment 568 #
Motion for a resolution Paragraph 22 22. Asks the Commission to
Amendment 569 #
Motion for a resolution Paragraph 22 22. Asks the Commission to take into account all relevant factors, including real growth
Amendment 570 #
Motion for a resolution Paragraph 22 22. Asks the Commission to
Amendment 571 #
Motion for a resolution Paragraph 22 22. Asks the Commission to take into account all relevant factors, including real growth and inflation, as well as unemployment rates, when evaluating the economic and fiscal situations of Member States under the EDP;
Amendment 572 #
Motion for a resolution Paragraph 23 Amendment 573 #
Motion for a resolution Paragraph 23 Amendment 574 #
Motion for a resolution Paragraph 23 Amendment 575 #
Motion for a resolution Paragraph 23 Amendment 576 #
Motion for a resolution Paragraph 23 23. I
Amendment 577 #
Motion for a resolution Paragraph 23 23.
Amendment 578 #
Motion for a resolution Paragraph 23 23.
Amendment 579 #
Motion for a resolution Paragraph 24 Amendment 580 #
Motion for a resolution Paragraph 24 Amendment 581 #
Motion for a resolution Paragraph 24 24. Insists that the focus on structural deficits since the 2005 reform of the SGP, together with the introduction of an expenditure rule with the 2011 reform, as well as the concept of output gap which is extremely difficult to quantify correctly, and therefore create
Amendment 582 #
Motion for a resolution Paragraph 24 24. Insists that the focus on structural deficits since the 2005 reform of the SGP, together with the introduction of an expenditure rule with the 2011 reform, creates margins for the discretionary implementation of the SGP, as the calculation of potential growth, underpinning the assessment of structural deficits, and that of the expenditure rule
Amendment 583 #
Motion for a resolution Paragraph 24 24.
Amendment 584 #
Motion for a resolution Paragraph 24 24.
Amendment 585 #
Motion for a resolution Paragraph 24 24. Insists that the focus on structural deficits since the 2005 reform of the SGP, together with the introduction of an expenditure rule with the 2011 reform, creates uncertainty, complexity and margins for the discretionary implementation of the SGP, as the calculation of potential growth, underpinning the assessment of structural deficits, and that of the expenditure rule are subject to several questionable assumptions and substantial revisions between the Commission’s autumn and spring forecasts, thereby leading to various calculations and diverging assessments as regards the implementation of the SGP;
Amendment 586 #
Motion for a resolution Paragraph 24 24. Insists that the focus on structural deficits since the 2005 reform of the SGP, together with the introduction of an expenditure rule with the 2011 reform, creates margins for the discretionary implementation of the SGP, as the calculation of potential growth and potential output, underpinning the assessment of structural deficits, and that of the expenditure rule are subject to several questionable assumptions
Amendment 587 #
Motion for a resolution Paragraph 24 24. Insists that the focus on structural deficits since the 2005 reform of the SGP, together with the introduction of an expenditure rule with the 2011 reform, creates margins for
Amendment 588 #
Motion for a resolution Paragraph 24 a (new) 24a. Observes that the calculation of the structural deficit or the structural budget balance is subject to significant time lags and undermined by large definition and measurement controversies;
Amendment 589 #
Motion for a resolution Paragraph 24 b (new) 24b. Takes note of the fact that the Commission communication on flexibility insists on the role of the output gap;
Amendment 590 #
Motion for a resolution Paragraph 24 a (new) 24a. Calls in that perspective on the Commission to put forward a legislative proposal for codifying in the legislation the concept of 'structural balance' advocates in particular for a more complete definition of the concept reflecting a wider theoretical background which should include inter alia the interwoven role played by the financial cycle and the business cycle;
Amendment 591 #
Motion for a resolution Paragraph 24 b (new) 24b. Reminds the Commission that several monitoring requirements of Regulation (EU) No 473/2013 regarding inter alia the estimation of multiplier effects on a country-by-country basis as well as indications on how reforms and measures are instrumental to the achievement of the targets set by the Union's strategy for growth and jobs have not yet been implemented by the Commission; calls upon the Commission to act in conformity with article 265 of the Treaty so as to comply with the legal obligations referred above;
Amendment 592 #
Motion for a resolution Paragraph 25 Amendment 593 #
Motion for a resolution Paragraph 25 Amendment 594 #
Motion for a resolution Paragraph 25 Amendment 595 #
Motion for a resolution Paragraph 25 Amendment 596 #
Motion for a resolution Paragraph 25 25. Calls on the Commission, when evaluating the fiscal position of Member
Amendment 597 #
Motion for a resolution Paragraph 25 25. Calls on the Commission, when evaluating the fiscal position of Members States, to
Amendment 598 #
Motion for a resolution Paragraph 25 25. Calls on the Commission, when evaluating the fiscal position of Members States, to include a better
Amendment 599 #
Motion for a resolution Paragraph 25 25. Calls on the Commission, when evaluating the fiscal position of Member
Amendment 600 #
Motion for a resolution Paragraph 25 25. Calls on the Commission, when evaluating the fiscal position of Members States, to include a better balance between the impact of the agreed fiscal measures and reforms and the fiscal figures based on estimated potential growth for GDP, output gaps and structural deficits that may introduce unexpected radical change at a later stage;
Amendment 601 #
Motion for a resolution Paragraph 25 25. Calls on the Commission, when evaluating the fiscal position of Members States, to
Amendment 602 #
Motion for a resolution Paragraph 25 25. Calls on the Commission, when evaluating the fiscal position of Members States, to include a better balance between the impact of the agreed fiscal measures and the fiscal figures based on estimated potential growth for GDP, output gaps and structural deficits that may introduce unexpected radical change at a later stage; calls on the Commission to aim for predictable consistent policy making while finding such a better balance;
Amendment 603 #
Motion for a resolution Paragraph 25 a (new) 25a. Calls on the Commission to launch a public debate in academic fora on the methodology used to estimate potential GDP growth and the structural budget balance, and on the usefulness, the reliability, and the consequences of these estimates for the implementation of the SGP.
Amendment 604 #
Motion for a resolution Paragraph 25 a (new) 25a. Believes that the credibility of the economic governance framework rests on the fair and transparent application of the rules; calls on the Commission to publish the reports of its independent Chief Economic Analyst verifying the consistent implementation of the rules; invites the Commission's Chief Economic Analyst to present to the European Parliament his/her assessment regarding the consistent implementation of the rules;
Amendment 605 #
Motion for a resolution Subheading 4 Democratic accountability and challenges ahead in
Amendment 606 #
Motion for a resolution Paragraph 26 26. Believes there is a strong need for less complexity,
Amendment 607 #
Motion for a resolution Paragraph 26 26. Believes there is a strong need for less complexity, better ownership, more transparency and democracy in economic governance;
Amendment 608 #
Motion for a resolution Paragraph 26 26. Believes there is a strong and urgent need for less complexity,
Amendment 609 #
Motion for a resolution Paragraph 26 26. Believes th
Amendment 610 #
Motion for a resolution Paragraph 26 26. Believes there is a strong need for less complexity, better ownership
Amendment 611 #
Motion for a resolution Paragraph 26 26. Believes there is a strong need for less complexity, better ownership, more transparency and democracy in economic governance; believes that
Amendment 612 #
Motion for a resolution Paragraph 26 26. Believes there is a strong need for less complexity, better ownership, more transparency and democracy in economic governance; believes that looking forward towards deeper integration cannot be achieved only by adding a new layer of rules to the already existing ones;
Amendment 613 #
Motion for a resolution Paragraph 26 26. Believes there is a strong need for less complexity, better ownership, more transparency and democracy in economic governance; believes that looking forward towards deeper integration cannot be achieved by adding a new layer of rules to the already existing ones and that improvement can only originate from institutions subject to democratic accountability;
Amendment 614 #
Motion for a resolution Paragraph 26 26. Believes there is a strong need for less
Amendment 615 #
Motion for a resolution Paragraph 26 26. Believes there is a strong need for less complexity, better ownership, more transparency and democracy in economic governance; believes that looking forward towards deeper integration cannot be achieved by adding a new layer of rules to the already existing ones; furthermore stresses that the economic governance should be aligned with the national budget and policymaking calendar;
Amendment 616 #
Motion for a resolution Paragraph 26 a (new) 26a. Takes the view that a more decentralised fiscal governance framework does not impair the proper functioning of EMU if Member States take full ownership of its rules and compliance with the fiscal surveillance framework can be fully ensured by EU institutions, while including sovereign default as a possible and credible last resort option;
Amendment 617 #
Motion for a resolution Paragraph 26 a (new) 26a. Takes the view that implementation and an effective enforcement of the current economic governance framework is the best way forward for the EMU: stresses the need for political ownership of the common rules and tool both at EU and national level which includes a stronger commitment of national parliaments and governments to implement structural reforms;
Amendment 618 #
Motion for a resolution Paragraph 26 a (new) 26a. Takes the view that in the field of EMU parliamentary control is shared between the national and the European level and insists that responsibilities must be assumed at the level where decisions are taken or implemented, with national parliaments scrutinising national governments and the European Parliament scrutinising the European executive; it is only in this way that the required increased accountability of decision making can be ensured; considers that this increased legitimacy can be ensured by foreseeing the adoption of National Reform Programmes and possible Convergence Partnerships by national parliaments as well as the adoption of European policy orientations, detailed in the Annual Growth Survey, by the European Parliament; stresses that such a cooperation should not be seen as the creation of a new mixed parliamentary body which would be both ineffective and illegitimate from a democratic and constitutional point of view;
Amendment 619 #
Motion for a resolution Paragraph 26 b (new) 26b. Considers that in the medium term, notably in order to ensure the required accountability for the ESM, a Euro area parliament will be required, under the auspices of the European Parliament, for Euro area Member States, with appropriate and inclusive mechanisms for those Member States committed to joining;
Amendment 620 #
Motion for a resolution Paragraph 27 Amendment 621 #
Motion for a resolution Paragraph 27 27. Acknowledges, based on the current situation, that the economic governance framework
Amendment 622 #
Motion for a resolution Paragraph 27 27. Acknowledges, based on the current situation, that the
Amendment 623 #
Motion for a resolution Paragraph 27 27. Acknowledges, based on the current situation, that the economic governance framework must be corrected and completed in both the medium and long term to allow for the EU and the euro area to meet the challenges of
Amendment 624 #
Motion for a resolution Paragraph 27 27. Acknowledges, based on the current
Amendment 625 #
Motion for a resolution Paragraph 27 27. Acknowledges, based on the current situation, that the economic governance framework must be
Amendment 626 #
Motion for a resolution Paragraph 27 27. Acknowledges, based on the current situation, that the economic governance framework must be
Amendment 627 #
Motion for a resolution Paragraph 27 27. Acknowledges, based on the current situation, that the economic governance framework must be corrected and completed
Amendment 628 #
Motion for a resolution Paragraph 27 27. Acknowledges, based on the current situation, that the economic governance framework must be
Amendment 629 #
Motion for a resolution Paragraph 27 a (new) 27a. Deplores that the EP does not legally and concretely provide more input in the key moments of the European Semester, notably regarding the AGS, the overall assessment of the budgetary situation and prospects in the euro area and the CSRs; against this background, stresses that there is an increasing sense of a double democratic deficit in the economic governance framework of the Union, both at the EU and at the national levels;
Amendment 630 #
Motion for a resolution Paragraph 27 b (new) 27b. Stresses, therefore, that a stronger involvement of the European Parliament in economic governance processes is a condition sine qua non for increased democratic legitimacy of the governance framework and to favour a debate on the macroeconomic situation of the EU;
Amendment 631 #
Motion for a resolution Paragraph 28 Amendment 632 #
Motion for a resolution Paragraph 28 Amendment 633 #
Motion for a resolution Paragraph 28 Amendment 634 #
Motion for a resolution Paragraph 28 Amendment 635 #
Motion for a resolution Paragraph 28 28. Calls for
Amendment 636 #
Motion for a resolution Paragraph 28 28. Calls for the annual
Amendment 637 #
Motion for a resolution Paragraph 28 28. Calls for the
Amendment 638 #
Motion for a resolution Paragraph 28 28. Calls for the annual sustainable growth guidelines to be made subject to a codecision procedure that should be introduced in the next Treaty change and in the meantime the be subject to an interinstitutional agreement; instructs its President to present the annual sustainable growth guidelines as amended by Parliament at the spring European Council;
Amendment 639 #
Motion for a resolution Paragraph 29 Amendment 640 #
Motion for a resolution Paragraph 29 29. Recalls that
Amendment 641 #
Motion for a resolution Paragraph 29 29. Recalls that legislation implemented during the crisis
Amendment 642 #
Motion for a resolution Paragraph 29 29. Recalls that legislation implemented during the crisis on the basis of intergovernmental agreements lacks democratic accountability at EU level; underlines that the 'Pringle' ECJ judgment provides a basis for bringing the ESM within the community acquis;
Amendment 643 #
Motion for a resolution Paragraph 29 29. Recalls that legislation implemented during the crisis on the basis of intergovernmental agreements lacks sufficient democratic accountability at EU level;
Amendment 644 #
Motion for a resolution Paragraph 29 a (new) 29a. Regrets, that the "Troika schemes" that were employed in several occasions to survey and provide recommendations on the economic adjustment of Member- States under a consolidation program, lacked any democratic accountability;
Amendment 645 #
Motion for a resolution Paragraph 30 Amendment 646 #
Motion for a resolution Paragraph 30 Amendment 647 #
Motion for a resolution Paragraph 30 30. Recalls th
Amendment 648 #
Motion for a resolution Paragraph 30 30. Recalls the European Parliament’s request that the creation of the European Stability Mechanism (ESM) outside of the structure of the institutions of the Union represents a setback to the political integration of the Union
Amendment 649 #
Motion for a resolution Paragraph 30 30. Recalls the European Parliament’s request that the creation of the European Stability Mechanism (ESM) outside of the structure of the institutions of the Union represents a setback to the political
Amendment 650 #
Motion for a resolution Paragraph 30 30. Recalls the European Parliament
Amendment 651 #
Motion for a resolution Paragraph 30 30. Recalls the European Parliament’s
Amendment 652 #
Motion for a resolution Paragraph 30 30. Recalls the European Parliament
Amendment 653 #
Motion for a resolution Paragraph 31 Amendment 654 #
Motion for a resolution Paragraph 31 Amendment 655 #
Motion for a resolution Paragraph 31 Amendment 656 #
Motion for a resolution Paragraph 31 31. Calls for a new legal framework for future assistance programmes
Amendment 657 #
Motion for a resolution Paragraph 31 31.
Amendment 658 #
Motion for a resolution Paragraph 31 31.
Amendment 659 #
Motion for a resolution Paragraph 31 31.
Amendment 660 #
Motion for a resolution Paragraph 31 31. Calls for a new legal framework for future assistance programmes in order to ensure that all decisions are taken under the responsibility of the Commission with full involvement of Parliament to ensure more democratic accountability; believes there should be a logic between the nature of the stability mechanism used and the institution in charge of its mobilisation;
Amendment 661 #
Motion for a resolution Paragraph 31 31. Calls for a new legal framework for future assistance programmes to be studied in order to ensure that all decisions are taken under the main responsibility of the Commission
Amendment 662 #
Motion for a resolution Paragraph 31 31. Calls for a
Amendment 663 #
Motion for a resolution Paragraph 31 31. Calls for a new legal framework for future assistance programmes in order to ensure that all decisions are taken under the responsibility of the Commission with full involvement of Parliament
Amendment 664 #
Motion for a resolution Paragraph 31 a (new) 31a. Insists that the European Parliament must, generally and systematically, be fully informed and consulted about decisions of the Eurogroup, and must play a genuine role of democratic control in assessing them;
Amendment 665 #
Motion for a resolution Paragraph 31 a (new) 31a. Reminds the Commission and the Council of its position adopted in plenary regarding Regulation (EU) No 472/2013; emphasises in particular that it has laid down provisions in this position which increase further the transparency and accountability of the decision-making process leading to the adoption of macroeconomic adjustment programmes, providing for a clearer and well- delimitated mandate and overall role for the Commission; asks the Commission to integrate such provisions in the framework of a future proposal to amend Regulation (EU) No 472/2013;
Amendment 666 #
Motion for a resolution Paragraph 31 b (new) 31b. Underlines that Regulation (EU) No 472/2013 foresees several provisions which have not been applied so far; recalls in particular the request contained in the European Parliament report on the troika that the MoUs need to be adapted in order to take into account the practice and institutions for wage formation and the national reform programme of the Member State concerned in the context of the Union's strategy for growth and jobs as set out in Regulation (EU) No 472/2013 (Article7(1)); the need to ensure sufficient means for fundamental policies such as education and healthcare (article 7(7)); as well as an effective involvement of social partners in the design and implementation of adjustment programmes (article 8); calls upon the Commission to act in conformity with article 265 of the Treaty so as to comply with the legal obligations referred to above;
Amendment 667 #
Motion for a resolution Paragraph 31 c (new) 31c. Asks for an inquiry committee on alleged maladministration and EU law infringements by the Troika;
Amendment 668 #
Motion for a resolution Paragraph 32 Amendment 669 #
Motion for a resolution Paragraph 32 Amendment 670 #
Motion for a resolution Paragraph 32 Amendment 671 #
Motion for a resolution Paragraph 32 Amendment 672 #
Motion for a resolution Paragraph 32 32.
Amendment 673 #
Motion for a resolution Paragraph 32 32. Requests, as per the opinion of the ECJ’s Advocate-General, that the ECB not form part of any assistance programmes or, through monetary policy-making, be indirectly involved in assistance programmes either;
Amendment 674 #
Motion for a resolution Paragraph 32 32. Requests, as per the opinion of the ECJ’s Advocate-General, that the ECB not form part of any assistance programmes; however, taking into account the independence of the ECB, some forms of short-term financial assistance, covering immediate liquidity needs, may be provided without any previous political consent;
Amendment 675 #
Motion for a resolution Paragraph 32 32. Requests, as per the opinion of the ECJ’s Advocate-General, that the ECB not
Amendment 676 #
Motion for a resolution Paragraph 32 32. Requests, as per the opinion of the ECJ’s Advocate-General, that the ECB not form directly part of any assistance programmes;
Amendment 677 #
Motion for a resolution Paragraph 32 32. Requests, as per the opinion of the ECJ’s Advocate-General, that the ECB not form part of any financial assistance programmes;
Amendment 678 #
Motion for a resolution Paragraph 33 Amendment 679 #
Motion for a resolution Paragraph 33 Amendment 680 #
Motion for a resolution Paragraph 33 Amendment 681 #
Motion for a resolution Paragraph 33 Amendment 682 #
Motion for a resolution Paragraph 33 33. Requests that a reassessment of the Eurogroup’s decision-making process be conducted so as to provide for appropriate democratic accountability; believes that
Amendment 683 #
Motion for a resolution Paragraph 33 33. Requests that a reassessment of the Eurogroup’s decision-making process be conducted so as to provide for appropriate democratic accountability;
Amendment 684 #
Motion for a resolution Paragraph 33 33. Requests that a reassessment of the Eurogroup
Amendment 685 #
Motion for a resolution Paragraph 33 33. Requests that a reassessment of the Eurogroup’s decision-making process be conducted so as to provide for appropriate democratic accountability;
Amendment 686 #
Motion for a resolution Paragraph 33 33. Requests that a reassessment of the Eurogroup’s decision-making process be conducted so as to provide for appropriate democratic accountability; believes that
Amendment 687 #
Motion for a resolution Paragraph 33 33. Requests that a reassessment of the Eurogroup’s decision-making process be conducted so as to provide for appropriate democratic accountability;
Amendment 688 #
Motion for a resolution Paragraph 33 33. Requests that a reassessment of the Eurogroup’s decision-making process be conducted so as to provide for appropriate democratic accountability and output legitimacy; believes that in the
Amendment 689 #
Motion for a resolution Paragraph 33 33. Requests that a reassessment of the Eurogroup’s decision-making process be
Amendment 690 #
Motion for a resolution Paragraph 33 a (new) 33a. Notes that due to inadequate structural arrangements that contributed to crisis. the European Central Bank has been assuming and implicitly receiving powers that go beyond its mandate and that create lack of transparency about how decisions need to be taken, while increasing the political powers of the Bank; that this is not conducive to the long term stability of the system while undermining its democratic accountability; and that therefore on the Bank's board there should be representatives whose remit is uniquely that of focussing on the state of financial health of the eurozone as a whole, rather than that of its component parts.
Amendment 691 #
Motion for a resolution Paragraph 33 a (new) 33a. Recalls that the parliamentary input on economic policy guidelines is the cornerstone of any democratic system;
Amendment 692 #
Motion for a resolution Paragraph 33 b (new) 33b. Regrets, therefore, that the much- increased complexity of the current governance framework further weakens democratic accountability;
Amendment 693 #
Motion for a resolution Paragraph 34 Amendment 694 #
Motion for a resolution Paragraph 34 Amendment 695 #
Motion for a resolution Paragraph 34 Amendment 696 #
Motion for a resolution Paragraph 34 34. Recalls that a ‘genuine Economic and Monetary Union’ (EMU)
Amendment 697 #
Motion for a resolution Paragraph 34 34. Recalls that
Amendment 698 #
Motion for a resolution Paragraph 34 34. Recalls that a
Amendment 699 #
Motion for a resolution Paragraph 34 34. Recalls that a ‘genuine Economic and Monetary Union’ (EMU)
Amendment 700 #
Motion for a resolution Paragraph 34 34. Recalls that
Amendment 701 #
Motion for a resolution Paragraph 34 34. Recalls that a ‘genuine Economic and Monetary Union’ (EMU) cannot simply be limited to a system of rules but also requires an increased euro area fiscal capacity; however, the euro area fiscal capacity should not be foreseen as a separate entity from existing institutional arrangements and should only be based on stronger coordination at eurozone level; Points out that a 'genuine EMU' also requires convergence in terms of competitiveness of its Member States; labour market reforms, structural reforms and fiscal consolidation, as well as responsible public spending are essential to achieve this goal;
Amendment 702 #
Motion for a resolution Paragraph 34 34. Recalls that a ‘genuine Economic and Monetary Union’ (EMU) cannot simply be limited to a system of rules but also requires an increased euro area fiscal capacity with European parliamentary control and a deep economic policy coordination; believes that, as much as at national level, structural reforms are needed at the EU level;
Amendment 703 #
Motion for a resolution Paragraph 34 34. Recalls that a
Amendment 704 #
Motion for a resolution Paragraph 34 34. Recalls that a ‘genuine Economic and Monetary Union’ (EMU)
Amendment 705 #
Motion for a resolution Paragraph 34 34. Recalls that a ‘genuine Economic and
Amendment 706 #
Motion for a resolution Paragraph 34 a (new) 34a. Believes that there will never be genuine EMU without Treaty change and a role for the ECJ in the enforcement of the budgetary rules, according to the principle of the rule of law, as stated in article 2 of TEU; this includes both infringement proceedings against Member States failing to fulfil their obligations and action for annulment against decisions of the institutions, thereby inter alia providing programme countries with a guarantee; believes that the involvement of the ECJ may notably be a guarantee that the rules will be applied identically irrespective of the size of the Member State; states that this role for the ECJ will not result in economic governance procedures being delayed;
Amendment 707 #
Motion for a resolution Paragraph 34 a (new) 34a. Notes that there exist no arrangements for an orderly withdrawal by members from the eurozone, one which is democratically transparent, fair to all concerned, conscious of the need to protect the welfare of all European peoples, especially those who are less well off, and tuned to the exigencies of globalised financial, product and service markets; and therefore requests that such arrangements are discussed and eventually put in place.
Amendment 708 #
Motion for a resolution Paragraph 34 a (new) 34a. Recalls that the functioning of the Single Market needs to be improved, in particular in areas that are vital to increasing the adjustment capacity of the euro area economies, such as the digital economy and energy. Enhancing labour mobility, especially for women and young workers, is key in this respect.
Amendment 709 #
Motion for a resolution Paragraph 34 a (new) 34a. Stresses that the flawed functioning of a Monetary Union without a State has generated and promoted unsustainably high macroeconomic imbalances within the Eurozone, leading to excessive surplus and corresponding excessive deficits; regrets that the Euro has acted as the most divisive factor for the European integration since the second world war;
Amendment 710 #
Motion for a resolution Paragraph 35 Amendment 711 #
Motion for a resolution Paragraph 35 Amendment 712 #
Motion for a resolution Paragraph 35 Amendment 713 #
Motion for a resolution Paragraph 35 35. Recalls that the banking union was the result of the political will to avoid a financial crisis
Amendment 714 #
Motion for a resolution Paragraph 35 35. Recalls that the banking union was the result of the political will to avoid a financial
Amendment 715 #
Motion for a resolution Paragraph 35 35. Recalls that the banking union was the result of the political will to avoid a financial crisis and
Amendment 716 #
Motion for a resolution Paragraph 35 35. Recalls that the banking union was the result of the political will to avoid
Amendment 717 #
Motion for a resolution Paragraph 35 35. Recalls that the banking union was the result of the political will to avoid a financial crisis and that the same will is needed as regards a fiscal union in order to
Amendment 718 #
Motion for a resolution Paragraph 35 35. Recalls that the banking union was the result of the political will to avoid the renewal of a financial crisis a
Amendment 719 #
Motion for a resolution Paragraph 35 35. Recalls that the banking union was the result of the political will to avoid a financial crisis and that the same
Amendment 720 #
Motion for a resolution Paragraph 35 35. Recalls that the banking union was the result of the political will to avoid a financial crisis and that the same will is needed as regards a potential fiscal union
Amendment 721 #
Motion for a resolution Paragraph 35 a (new) 35a. Reminds of the main findings of the Expert Group on the feasibility of Eurobonds, created by the Commission and led by Mrs Tumpel-Gugerell, which concluded that the issuing of debt under joint and several liability is not compatible with the Treaty, and that in the present situation of Member States still struggling with over-indebtedness a mutualisation of debt is economically unsound as well as politically not feasible;
Amendment 722 #
Motion for a resolution Paragraph 35 b (new) 35b. Warns all Member States to stick to their engagements concerning the reimbursement of the debt they have contracted; draws the attention to the highly disruptive effects emanating from announcements by governments that they do not feel bound by their obligations to pay back the debt which was contracted in a generous gesture of solidarity by the other countries of the euro area; warns that such an attitude might spell a cast on any future plan to mutualise debt;
Amendment 723 #
Motion for a resolution Paragraph 36 36. Asks the Commission to come forward with an ambitious roadmap
Amendment 724 #
Motion for a resolution Paragraph 36 36. Asks the Commission to come forward with an ambitious roadmap which takes into account the need
Amendment 725 #
Motion for a resolution Paragraph 36 36. Asks the Commission to come forward with an ambitious roadmap which takes into account the need for economic governance reforms and completion of the EMU, as outlined in this report
Amendment 726 #
Motion for a resolution Paragraph 36 36. Asks the Commission to come forward with an ambitious roadmap
Amendment 727 #
Motion for a resolution Paragraph 36 36. Asks the Commission to come forward with an ambitious roadmap which takes into account the need for economic governance reforms, as outlined in this report, and which should be presented to Parliament by the end of May 2015, ahead of the June European Council; Asks the Commission to make it a high priority to create better incentives for Member States to abide by the SGP rules, as this is a way to maintain the trust of the private markets, and also creates space for future solidarity and for averting economic crises;
Amendment 728 #
Motion for a resolution Paragraph 36 36. Asks the Commission to come forward with an ambitious roadmap which takes into account the need for a new economic governance reforms based on the principle of Member States' sovereignty to pursue autonomous fiscal and monetary policies, as outlined in this report, and which should be presented to Parliament by the end of May 2015, ahead of the June European Council;
Amendment 729 #
Motion for a resolution Paragraph 36 a (new) 36a. Asks the Commission to systematically develop and carry on an Inclusive Growth Policy view, with a long- run perspective so as to avoid a short-term orientation and the dangers of jobless growth;
Amendment 730 #
Motion for a resolution Paragraph 36 a (new) 36a. Is of the opinion that a 'genuine EMU' cannot be limited to a system of rules but requires an increased budgetary capacity based on specific own- resources which should, in the framework of the Union budget, support growth and social cohesion addressing imbalances, structural divergences and financial emergencies which are directly connected to the monetary union, without undermining its traditional functions to finance common policies.
Amendment 731 #
Motion for a resolution Paragraph 36 a (new) 36a. Takes note of the new mandate given by the euro area summit, confirmed by the European Council to relaunch the debate, after the 2012 'Towards a genuine economic and monetary union' report had been shelved, with the mandate to 'develop concrete mechanisms for stronger economic policy coordination, convergence and solidarity' and 'to prepare next steps on better economic governance in the euro area';
Amendment 732 #
Motion for a resolution Paragraph 36 b (new) 36b. Considers that the analytical note 'Preparing for next steps on better economic governance in the euro area' presented by Jean-Claude Juncker, on behalf of the four presidents, at the European Council of 12 February, is surprisingly less forward looking than the most recent work on deepening the EMU, notably the recommendations laid out in 2012 in the four presidents report, in the Commission blueprint and in the EP resolution 'Towards a genuine Economic and Monetary Union'; considers that the eleven questions presented in this analytical note, that have not been discussed, may not be considered as the basis of the June's 4+1 presidents' report; asks the Commission to present proposals in line with the recent proposals on EMU endorsed by the Council and the EP;
Amendment 733 #
Motion for a resolution Paragraph 36 c (new) 36c. Believes that the analytical note is almost silent regarding the challenges of macroeconomic imbalances, multipliers or spill over effects that were already identified as critical ones by the Commission Communication of 7 May 2008 on 'EMU@10: successes and challenges after 10 years of Economic and Monetary Union'; considers that the analytical notes is an inadequate presentation of the past economic policy approach since 2010 when the switch to austerity provoked a new recession and a decupling from the United States and of the nature of structural reform with a positive social-economic return; regrets that convergence is almost overlooked by the analytical note whereas it was clearly in the mandate given by the European Council and should be at the heart of any initiative to be taken to build a genuine EMU;
Amendment 734 #
Motion for a resolution Paragraph 36 d (new) 36d. Observes that the analytical note is silent on the reasons for the lack of investment in the EMU, the very low inflation, the potential deflationary effect of structural reforms, the taxation and workers' portability rights that is complementary to the functioning of the single market, and the social dimension;
Amendment 735 #
Motion for a resolution Paragraph 36 e (new) 36e. Request that the president of the Commission debates in May during the plenary of the European parliament the 4+1 presidents' report, ahead of the June European council;
Amendment 736 #
Motion for a resolution Paragraph 37 Amendment 737 #
Motion for a resolution Paragraph 37 Amendment 738 #
Motion for a resolution Paragraph 37 Amendment 739 #
Motion for a resolution Paragraph 37 Amendment 740 #
Motion for a resolution Paragraph 37 – introductory part 37. Invites the stakeholders in this necessary
Amendment 741 #
Motion for a resolution Paragraph 37 – introductory part 37. Invites the stakeholders in this necessary next step of the EMU to avoid left-over and to explore all options which have been well discussed and documented over a long period of time, together with other more recent ones, as ways of achieving a deepening of the EMU, such as:
Amendment 742 #
Motion for a resolution Paragraph 37 – introductory part 37. Invites the stakeholders in this necessary next step of the EMU to
Amendment 743 #
Motion for a resolution Paragraph 37 – introductory part 37. Invites the stakeholders in this necessary next step of the EMU to
Amendment 744 #
Motion for a resolution Paragraph 37 – introductory part 37. Invites the stakeholders in this necessary next step of the EMU to avoid left-over, to take into account foreseeable future enlargement of the euro area and to explore all options which have been well discussed and documented over a long period of time as ways
Amendment 748 #
Motion for a resolution Paragraph 37 – indent 1 – a ‘taxation union’, starting with measures to bring about convergence of the fiscal policies of the Member States,
Amendment 749 #
Motion for a resolution Paragraph 37 – indent 1 – a
Amendment 750 #
Motion for a resolution Paragraph 37 – indent 1 – a ‘fiscal and taxationʼ union
Amendment 751 #
Motion for a resolution Paragraph 37 – indent 1 – a
Amendment 752 #
Motion for a resolution Paragraph 37 – indent 1 – a ‘taxation union’, including a reflexion on own resources for the EMU, possibly deriving from new fiscal bases;
Amendment 753 #
Motion for a resolution Paragraph 37 – indent 1 – a
Amendment 754 #
Motion for a resolution Paragraph 37 – indent 1 – a
Amendment 755 #
Motion for a resolution Paragraph 37 – indent 1 – a ‘taxation union’, and support/enhance cooperation of the national tax authorities in order to exchange information regarding tax avoidance and tax fraud.
Amendment 756 #
Motion for a resolution Paragraph 37 – indent 1 a (new) - a set of measures to protect a Member State who decides to withdraw from the Eurozone from the risk of speculative attacks;
Amendment 757 #
Motion for a resolution Paragraph 37 – indent 1 a (new) - the financial union, to include the euro areaʼs public debt issuance,
Amendment 758 #
Motion for a resolution Paragraph 37 – indent 1 b (new) - a common framework to discuss a possible multilateral and coordinated break-up of the monetary union;
Amendment 759 #
Motion for a resolution Paragraph 37 – indent 1 c (new) - a social dimension, including a minimum wage mechanism and a minimum unemployment benefit scheme for the euro area supporting the reintegration of workers into the job market
Amendment 760 #
Motion for a resolution Paragraph 37 – indent 2 Amendment 761 #
Motion for a resolution Paragraph 37 – indent 2 – a social dimension
Amendment 762 #
Motion for a resolution Paragraph 37 – indent 2 – a social dimension, including
Amendment 763 #
Motion for a resolution Paragraph 37 – indent 2 – a social dimension, including a minimum wage mechanism, which must respect national practices and industrial relations systems and have the support of national trade unions, and a minimum unemployment benefit scheme, for the euro area, and in-depth reforms to favour mobility,
Amendment 764 #
Motion for a resolution Paragraph 37 – indent 2 Amendment 765 #
Motion for a resolution Paragraph 37 – indent 2 – a social dimension, including a minimum wage mechanism and a minimum unemployment benefit scheme for the euro area and in-depth reforms to favour mobility
Amendment 766 #
Motion for a resolution Paragraph 37 – indent 2 – a social dimension, including a minimum wage mechanism and a minimum unemployment benefit scheme for the euro area and in-depth reforms
Amendment 767 #
Motion for a resolution Paragraph 37 – indent 2 – a social dimension, including a minimum wage corridor mechanism
Amendment 768 #
Motion for a resolution Paragraph 37 – indent 2 – a social dimension, including a minimum wage mechanism and a minimum unemployment benefit scheme
Amendment 769 #
Motion for a resolution Paragraph 37 – indent 2 – a social dimension, including a
Amendment 770 #
Motion for a resolution Paragraph 37 – indent 2 a (new) - merging the deficit and debt procedures, the macroeconomic imbalance procedure and the country specific recommendations into one single instrument which is of legally binding nature with regard to budgetary discipline and economic reform and which would give Member States that are in compliance with its rules access to funds for investment projects or to Community instruments that combine economic reform with fiscal incentives;
Amendment 771 #
Motion for a resolution Paragraph 37 – indent 2 a (new) - enhanced democratic accountability mechanisms so as to ensure that all euro area National parliaments follow each step of the European semester process; as well as a generalized co-decision in all economic fields (including article 126 of the TFEU and competition policy) and regarding article 352 of the TFEU;
Amendment 772 #
Motion for a resolution Paragraph 37 – indent 2 b (new) - asymmetric shock mechanisms;
Amendment 773 #
Motion for a resolution Paragraph 37 – indent 2 c (new) - an enhanced macroeconomic imbalances procedure for the euro area as a whole aiming at preventing and correcting macro-financial divergences and aiming at ensuring an appropriate fiscal stance for the euro area as a whole;
Amendment 774 #
Motion for a resolution Paragraph 37 – indent 2 d (new) - a gradual mutualisation of sovereign debt going hand in hand with enhanced economic policy coordination and enforcement of common rules and a clear commitment to economically and socially sustainable reforms;
Amendment 775 #
Motion for a resolution Paragraph 37 – indent 2 e (new) - a common deposit guarantee scheme.
Amendment 776 #
Motion for a resolution Paragraph 37 – indent 3 – the
Amendment 777 #
Motion for a resolution Paragraph 37 – indent 3 – the inclusion of the ESM in Union law and a new approach towards a Euro
Amendment 778 #
Motion for a resolution Paragraph 37 – indent 3 Amendment 779 #
Motion for a resolution Paragraph 37 – indent 3 – the inclusion of the ESM in Union law
Amendment 780 #
Motion for a resolution Paragraph 37 – indent 3 – the inclusion of the ESM in Union law
Amendment 781 #
Motion for a resolution Paragraph 37 – indent 3 a (new) - the introduction of a specific clause in the Treaties allowing the unilateral withdrawal of a Member State from the Eurozone;
Amendment 782 #
Motion for a resolution Paragraph 37 – indent 3 a (new) - the establishment of a European redemption fund based on conditionality;
Amendment 783 #
Motion for a resolution Paragraph 37 – indent 3 a (new) - - the inclusion of the TCSG in Union law,
Amendment 784 #
Motion for a resolution Paragraph 37 – indent 3 b (new) - the creation of a European Monetary Fund, taking over the functions of the ESM as well as those associated with the elaboration and implementation of programmes;
Amendment 785 #
Motion for a resolution Paragraph 37 – indent 3 b (new) - the introduction of exposure limits and risk weights on sovereign debt (sovereign debts can no longer be considered as a safe asset);
Amendment 786 #
Motion for a resolution Paragraph 37 – indent 3 c (new) - a broad return to the no-bail-out clause, thus restoring the responsibility of Member States for their own actions, as it is explicitly foreseen in the Treaty,
Amendment 787 #
Motion for a resolution Paragraph 37 – indent 3 d (new) - to increase the automaticity in the SGP by shifting the decision power inside the Commission from the political to the administrative level on the basis of independent economic analysis,
Amendment 788 #
Motion for a resolution Paragraph 37 – indent 3 e (new) - a greater role given to the markets in order to achieve fiscal discipline,
Amendment 789 #
Motion for a resolution Paragraph 37 – indent 3 f (new) - the implementation of fiscal breaks at the national level, as foreseen by the TCSG,
Amendment 790 #
Motion for a resolution Paragraph 37 – indent 3 g (new) - the setting of a legal framework for state defaults,
Amendment 791 #
Motion for a resolution Paragraph 37 – indent 4 Amendment 792 #
Motion for a resolution Paragraph 37 – indent 4 Amendment 793 #
Motion for a resolution Paragraph 37 – indent 4 – a
Amendment 794 #
Motion for a resolution Paragraph 37 – indent 4 – a euro area fiscal capacity
Amendment 795 #
Motion for a resolution Paragraph 37 – indent 4 – a euro area fiscal capacity notably to
Amendment 796 #
Motion for a resolution Paragraph 37 – indent 4 – a euro area fiscal capacity notably to finance counter cyclical actions
Amendment 797 #
Motion for a resolution Paragraph 37 – indent 4 – a euro area fiscal capacity notably to finance counter cyclical actions
Amendment 798 #
Motion for a resolution Paragraph 37 – indent 4 Amendment 799 #
Motion for a resolution Paragraph 37 – subparagraph 1 (new) Within the framework of future Treaty revision, calls for - a role for the ECJ in the enforcement of the budgetary rules; - the creation of a parliament for the Euro area, under the auspices of the European Parliament, in order to ensure full legitimacy and parliamentary control at the level where decisions are taken and/or implemented, for the ESM for example; - the merging of the deficit and debt procedures, the macroeconomic imbalance procedure and the Country Specific Recommendations into one single, legally binding instrument;
Amendment 800 #
Motion for a resolution Paragraph 37 – indent 4 a (new) - a common framework to agree on a renegotiation of bail-out debts for Member States facing difficult economic conditions,
Amendment 801 #
Motion for a resolution Paragraph 37 – indent 4 a (new) - a mechanism inspired by the European Payments Union, to restore the balance of payments in the euro area, thereby reducing surpluses and excessive current account deficits;
Amendment 802 #
Motion for a resolution Paragraph 37 – indent 4 a (new) - a euro area mechanism to allow debt reduction without hampering growth prospects;
Amendment 803 #
Motion for a resolution Paragraph 37 – indent 4 b (new) - a convergence process for social and labour standards;
Amendment 804 #
Motion for a resolution Paragraph 37 – indent 4 b (new) - an increased external role of the euro area, including the upgrading of its representation;
Amendment 805 #
Motion for a resolution Paragraph 37 a (new) 37 a. Welcomes the leading role played by the President of the European Commission in this upcoming task;
Amendment 806 #
Motion for a resolution Paragraph 38 Amendment 807 #
Motion for a resolution Paragraph 38 Amendment 808 #
Motion for a resolution Paragraph 38 Amendment 809 #
Motion for a resolution Paragraph 38 38.
Amendment 810 #
Motion for a resolution Paragraph 38 38. Requests that
Amendment 811 #
Motion for a resolution Paragraph 38 a (new) 38 a. Notes that the President of the Commission has indicated his intention to draw on input from the President of the European Parliament in his reflections during the preparation of the 4 Presidents' reports; Underlines that the President of the European Parliament can only represent the institution on the basis and within the remit of a mandate by plenary;
Amendment 812 #
Motion for a resolution Paragraph 39 Amendment 813 #
Motion for a resolution Paragraph 39 Amendment 814 #
Motion for a resolution Paragraph 39 Amendment 815 #
Motion for a resolution Paragraph 39 39. Asks its President
Amendment 816 #
Motion for a resolution Paragraph 39 39. Asks its President to
Amendment 817 #
Motion for a resolution Paragraph 39 39.
Amendment 818 #
Motion for a resolution Paragraph 39 a (new) 39 a. Advises its President, in order to further strengthen his mandate, to undertake an ex-ante coordination with the chairmen of the political groups concerning his presentation of this resolution to the European Council, a practice that should be extended to all other resolutions presented there, including those concerning the AGS and the CSRs;
Amendment 819 #
Motion for a resolution Paragraph 39 a (new) 39 a. believes that some reflexion should be launched to improve the in-house analysis capacity of the European Parliament, building on the experience of the U.S. Congressional Budget Office which provides budgetary and economic information such as baseline budget and economic projections, cost estimates, scorekeeping for legislation;
Amendment 820 #
Motion for a resolution Paragraph 40 40. Instructs its President to forward this resolution to the presidents of the Council
source: 549.458
2015/03/04
ECON
381 amendments...
Amendment 1 #
Motion for a resolution Citation 2 a (new) - having regard to the 24 February 2015 Eurogroup statement on Greece for a four-month loan extension,
Amendment 10 #
Motion for a resolution Citation 15 a (new) - having regard to the Draft ECOFIN Council Conclusions of 13 February 2015,
Amendment 100 #
Motion for a resolution Recital B a (new) Ba. whereas in the Stability and Growth Pact Article 5 of Regulation 1466/97 it is stated that "the Council and the Commission shall also examine whether the stability programmes facilitate the achievement of sustained and real convergence within the euro area...";
Amendment 101 #
Motion for a resolution Recital B b (new) Bb. Whereas, according to the AGS 2015, "unemployment reached 24.6 million people in August 2014 – 5 million are aged between 15 and 24. Long-term unemployment is very high. Unemployment rates strongly vary across Member States, from 5.1% in Germany and 5.3% in Austria to 24.8% in Spain and 26.8% in Greece in 2014.";
Amendment 102 #
Motion for a resolution Recital B a (new) Ba. Whereas, youth unemployment in many Member States remains at a very high level, posing threats for both the economic recovery in the short term and for the prospects of a sustained growth in the long term;
Amendment 103 #
Motion for a resolution Recital B b (new) Bb. Whereas, low levels of inflation in conjunction with the high average Debt in several Member States jeopardize sustainability of the Debt itself, harming efforts made towards a reduction of the debt;
Amendment 104 #
Motion for a resolution Recital C Amendment 105 #
Motion for a resolution Recital C C. whereas, on the one hand, according to the Commission’s
Amendment 106 #
Motion for a resolution Recital C C. whereas, according to the Commission’s autumn forecast, investment in the euro area decreased by 3.4 % in 2012, by 2.4 % in 2013 and by 17 % since the pre-crisis period, with the expected rebound rate in 2014 (0.6 %) and that anticipated for 2015 (1.7 %) being very weak;
Amendment 107 #
Motion for a resolution Recital C C. whereas, according to the Commission’s autumn forecast, investment in the euro area decreased by 3.4 % in 2012, by 2.4 % in 2013 and by 17 % since the pre-crisis period, with the expected rebound rate in 2014 (0.6 %) and that anticipated for 2015 (1.7 %) being very weak; whereas a lack of investment can
Amendment 108 #
Motion for a resolution Recital C C.
Amendment 109 #
Motion for a resolution Recital C C. whereas, according to the Commission’s autumn forecast, investment in the euro area decreased by 3.4 % in 2012, by 2.4 % in 2013 and by 17 % since the pre-crisis period, with the expected rebound rate in 2014 (0.6 %) and that anticipated for 2015 (1.7 %) being very weak; whereas both a lack of investment
Amendment 11 #
Motion for a resolution Citation 16 Amendment 110 #
Motion for a resolution Recital C C. whereas, according to the Commission’s autumn forecast, investment in the euro area decreased by 3.4 % in 2012, by 2.4 % in 2013 and by 17 % since the pre-crisis period, with the expected rebound rate in 2014 (0.6 %) and that anticipated for 2015 (1.7 %) being very weak; whereas
Amendment 111 #
Motion for a resolution Recital C C. whereas, according to the Commission
Amendment 112 #
Motion for a resolution Recital C C. whereas, according to the Commission
Amendment 113 #
Motion for a resolution Recital C C. whereas, according to the Commission’s autumn forecast, investment in the euro area decreased by 3.4 % in 2012, by 2.4 % in 2013 and by 17 % since the pre-crisis period, with the expected rebound rate in 2014 (0.6 %) and that anticipated for 2015 (1.7 %) being very weak; whereas a lack of investment can be
Amendment 114 #
Motion for a resolution Recital C C. whereas, according to the Commission’s autumn forecast, investment in the euro area decreased by 3.4 % in 2012, by 2.4 % in 2013 and by 17 % since the pre-crisis period, with the expected rebound rate in 2014 (0.6 %) and that anticipated for 2015 (1.7 %) being very weak; whereas a lack of investment can be
Amendment 115 #
Motion for a resolution Recital C C. whereas, according to the Commission
Amendment 116 #
Motion for a resolution Recital C a (new) Ca. whereas the adjustment period the euro area has been going through since 2010, including with the intervention of the troika, has led to stagnation and deflation;
Amendment 117 #
Motion for a resolution Recital C b (new) Cb. whereas the public debt in the euro are has increased, more than the GDP, from 69.2% in 2008 to 92.1% of GDP in 2014 following the adjustment process;
Amendment 118 #
Motion for a resolution Recital C a (new) Ca. whereas the euro area continues to be characterised by high and persistent current account imbalances, with surpluses reaching 10.4% of GDP in the Netherlands and 7.5% of GDP in Germany in 2013;
Amendment 119 #
Motion for a resolution Recital C b (new) Cb. whereas inflation in the euro area has been consistently below the ECB inflation target for 2013 and 2014, dipping below 0 in December 2014;
Amendment 12 #
Motion for a resolution Citation 17 Amendment 120 #
Motion for a resolution Recital D Amendment 121 #
Motion for a resolution Recital D D. whereas a European investment plan as an important instrument to stimulate private investment is being put in place to raise EUR 315 billion in new investments over the next three years;
Amendment 122 #
Motion for a resolution Recital D D. whereas a EUR 21 billion European investment plan is being put in place to raise EUR 315 billion in new investments over the next three years based on the questionable assumptions of a leverage effect of 15 and ability to attract private investments on high-risk projects;
Amendment 123 #
Motion for a resolution Recital D D. whereas a European investment plan is being put in place to raise EUR 315 billion in new investments over the next three years; whereas this plan is only one element destined to overcome the investment gap, and that it is not meant to replace national efforts and responsibilities to enable growth- enhancing investments in a fiscally responsible manner;
Amendment 124 #
Motion for a resolution Recital D D. whereas a European investment plan is being put in place to raise EUR 315 billion in new investments over the next three years whose success also depends on the implementation of structural reforms to create an investor-friendly environment in Member States;
Amendment 125 #
Motion for a resolution Recital D D. whereas a European investment plan is being put in place to
Amendment 126 #
Motion for a resolution Recital D D. whereas a European investment plan is
Amendment 127 #
Motion for a resolution Recital D D. whereas a European investment plan is being put in place
Amendment 128 #
Motion for a resolution Recital D D. whereas a European investment plan is being put in place to raise EUR 315 billion in new investments over the next three years; whereas, if the proposed financial objectives of the Plan are achieved, it would only make up for a fraction of the accumulated investment gap;
Amendment 129 #
Motion for a resolution Recital D a (new) Da. whereas, according to the Commission's winter forecast, unemployment rate in 2015 and 2016 across the EU is expected to remain at levels above 11%;
Amendment 13 #
Motion for a resolution Citation 17 Amendment 130 #
Motion for a resolution Recital D a (new) Da. Whereas the European Parliament has stated in its Report with recommendations to the Commission on the report of the Presidents of the European Council, the European Commission, the European Central Bank and the Eurogroup "Towards a genuine Economic and Monetary Union" (2012/2151(INI)) that "The ESM should evolve towards Community-method management and be made accountable to the European Parliament.";
Amendment 131 #
Motion for a resolution Recital D a (new) Da. E. whereas EU cohesion policy forms, with the budget of over 350 billion euros until 2020, in some Member States principal source of public investments; whereas correlation between good economic governance and absorption capacity has been confirmed in practice; objectives of enhancing growth and jobs could be achieved through a coherent interaction within the EU economic policy mix of fiscal consolidation, structural reforms and growth enhancing investment supported by cohesion policy;
Amendment 132 #
Motion for a resolution Recital D a (new) Da. whereas a quantitative easing program worth about EUR 1.1 trillion was launched by the ECB in order to address the risk of persistent low inflation and revitalize the real economy; whereas the 19 national central banks will buy government bonds of their own Member States and bear the relative risk; whereas the risk sharing regime is limited to 20% of the purchases, of which 12% on the bonds issued by European institutions and only a symbolic and insignificant 8% on the Eurozone government bonds, signalling Member States' lack of political will to accept both advantages and disadvantages that a true single monetary policy would imply;
Amendment 133 #
Motion for a resolution Recital D b (new) Db. whereas the figures on gross domestic product, investment and unemployment in the Commission's winter forecast substantially confirm those presented in the autumn forecast, reflecting that the Juncker plan and the ECB massive quantitative easing programme are deemed to be largely ineffective;
Amendment 134 #
Motion for a resolution Recital D c (new) Dc. whereas, in spite of the unconventional measures undertaken by the ECB since 2010, the transmission mechanism of monetary policy to the real economy remains impaired, reflecting a situation of liquidity trap; whereas according to the IMF October 2014 Outlook, the risk of deflation in the Eurozone has increased up to 30% and some Countries are already experiencing deflation;
Amendment 135 #
Motion for a resolution Recital D d (new) Dd. whereas, according to the October 2014 Outlook, the IMF estimated that the probability of a recession in the euro area reached almost 40%, and some Countries are already experiencing recession;
Amendment 136 #
Motion for a resolution Recital D e (new) De. whereas the 2008 financial crisis resulted in a massive intervention of European governments in support of the financial sector; whereas, according to the Commission[1] the total state aid granted to the financial sector amounted to more than EUR 5 trillion (40.3% of EU GDP);
Amendment 137 #
Motion for a resolution Recital D f (new) Df. whereas, according to the OECD 2012 report, the sustainability of sovereign debt was significantly affected by the extent of explicit or implicit guarantees for bank debt;
Amendment 138 #
Motion for a resolution Recital D g (new) Dg. whereas the ratios of public debt to gross domestic product across EU countries have continued to deteriorate despite the implementation of fiscal consolidation programme aimed at bringing public finances on a sustainable path;
Amendment 139 #
Motion for a resolution Recital D h (new) Dh. whereas the cuts in public spending deriving from fiscal consolidation plans have resulted in a decline in social protection, while the families at risk of poverty and social exclusion increased to over 25 %;
Amendment 14 #
Motion for a resolution Citation 17 a (new) - having regard to the Commission's Winter 2015 European Economic Forecast of 5 February 2015,
Amendment 140 #
Motion for a resolution Recital D i (new) Di. whereas aggressive tax planning, harmful tax competition and the presence of tax havens within the EU have generated billions of losses in potential revenues to the public finances of several Member States, to the benefit of large corporations, thus undermining the basis of solidarity and fair competition between EU Member States;
Amendment 141 #
Motion for a resolution Paragraph -1 (new) -1. Underlines that solidarity is the core value on which the European Union is built on; thanks therefore the people and tax payers in Europe for showing great solidarity with the people in countries effected by the debt crisis;
Amendment 142 #
Motion for a resolution Paragraph -1 a (new) -1a. Emphasises, that as a principle countries in the Euro zone that received support from the partners to finance their economies must fulfil the according rules and agreements; underlines that this is a matter of respect for the tax payers in the partner countries in return for their big solidarity efforts;
Amendment 143 #
Motion for a resolution Paragraph -1 c (new) -1b. Calls on those Member States still suffering from the debt crisis to fully implement the structural reforms and to fulfil the obligations to regain competitiveness;
Amendment 144 #
Motion for a resolution Paragraph -1 (new) -1. Underlines, however, that since the new rules have been introduced, progress has been made in addressing fiscal consolidation, with the EU-28 average fiscal deficit falling from 4.5% of GDP in 2011 to a forecast of around 3% of GDP in 2014;
Amendment 145 #
Motion for a resolution Paragraph -1 a (new) -1a. Welcomes the Commission communication (COM(2014) 905) on the application of the Six- and Two-Pack; agrees with the Commission that the ability to draw conclusions on the effectiveness of the regulations is limited by the short experience of their operation, which in addition has been characterised by a severe economic crisis and hence leaves the rules untested in normal economic times;
Amendment 146 #
Motion for a resolution Paragraph -1 b (new) -1b. Stresses that at the core of the economic governance system is the prevention of excessive deficit and debt levels as well as excessive macroeconomic imbalances; underlines therefore that an assessment of the application of the six- pack and two-pack at this stage remains partial as the efficiency of the system to a large extent relies on the proper working of the preventive part of it, which is precisely what remains to be proven in better economic times;
Amendment 147 #
Motion for a resolution Paragraph -1 c (new) -1c. Welcomes the measures taken by the EU to respond to the weaknesses in its economic governance system revealed by the economic and financial crisis, namely the six-pack and two-pack; believes these represent a necessary first step to strengthen budgetary surveillance and economic policy coordination;
Amendment 148 #
Motion for a resolution Paragraph -1 (new) -1. Welcomes the Commission Communication of 28 November 2014 on the economic governance review and shares its conclusion that the new framework has worked well so far, but that many aspects of the 6- and 2-packs cannot be sufficiently evaluated at this point, as that they are still recent additions and haven't been put to the test yet;
Amendment 149 #
Motion for a resolution Paragraph -1 a (new) -1a. Insists that, based on the review clauses in the 6- and 2-Packs and the ensuing Commission Communication of 28 November 2014, the central question is whether the EMU has been made more resilient by the new Economic Governance framework, especially as far as its ability to avoid a Member State to default on its debt is concerned, while contributing to closer coordination of Member States' economic policies and ensuring a high level of transparency, credibility and democratic accountability;
Amendment 15 #
Motion for a resolution Citation 17 b (new) - having regard to the analytical note 'Preparing for next steps on better economic governance in the Euro area' presented in the European Council on 12 February 2015,
Amendment 150 #
Motion for a resolution Paragraph -1 b (new) -1b. Welcomes the 6- and 2-Pack's broadening of the scope of the Stability and Growth Pact through the addition of procedures to prevent and correct macroeconomic imbalances inside a Member State, to shift the overreliance on the deficit criterion to that of both the deficit and the overall debt, and to try to identify and correct possible problems at an early stage, thus preventing the emergence of crises at the earliest stage possible;
Amendment 151 #
Motion for a resolution Paragraph -1 c (new) -1c. Encourages the Commission and the Council to pursue an approach that favours an early identification and correction of macroeconomic imbalances and fiscal problems within Member States, so as to avoid a repetition of the very painful adjustments made necessary by years, sometimes decades, of accumulated imbalances, especially those where Member States ended up living above their means at the same time as their competitiveness declined substantially;
Amendment 152 #
Motion for a resolution Paragraph -1 d (new) -1d. Underlines the importance of the scoreboard, whose carefully chosen indicators help identify macroeconomic imbalances at an early stage; advises to make best use of other indicators, such as social ones, when conducting the in-depth analysis of a Member State;
Amendment 153 #
Motion for a resolution Paragraph 1 f (new) -1e. Stresses the importance given to structural reforms when trying to overcome macroeconomic imbalances; welcomes in this regard the analysis by ECB President Draghi in his Jackson Hole speech, notably his comparison of methods to overcome unemployment;
Amendment 154 #
Motion for a resolution Paragraph -1 f (new) -1f. Notes President Draghi's clarification, made in the Monetary Dialogues, in the EPs plenary and his Jackson Hole speech, that in the absence of fiscal consolidation and structural reforms the ECB's monetary policy would remain without effects; notes his warning in that same speech, that abandoning fiscal consolidation would be a self- defeating approach;
Amendment 155 #
Motion for a resolution Paragraph -1 g (new) -1g. Welcomes that an increasing number of Member States are exiting their Excessive Deficit Procedures;
Amendment 156 #
Motion for a resolution Paragraph -1 h (new) -1h. Welcomes that most Member States under a programme could exit these, often faster than initially forecasted, and are now able to access capital markets at very favourable rates, showing that they have regained the confidence of markets and investors; lauds that the structural reforms carried out in these Member States as well as the subsequent increase in competitiveness has led them to enjoy amongst the highest growth rates in the European Union, setting the grounds for a rebound of employment;
Amendment 157 #
Motion for a resolution Paragraph -1 i (new) -1i. Is alarmed about the uneven attainment of Medium Term Objectives, with the overall debt still increasing in a number of Member States, especially in those which combine a high private and public debt with declining international competitiveness;
Amendment 158 #
Motion for a resolution Paragraph -1 j (new) -1j. Questions, in view of the extreme efforts that had to be made to save smaller countries, the Union's ability to prevent large Member States from defaulting on their debt; urges to carry out all structural reforms as well as ensuring the sustainability of the debt well before the markets lose confidence;
Amendment 159 #
Motion for a resolution Paragraph -1 k (new) -1k. Warns that the Pact's Achilles heel still is its weak enforcement provisions and their application by the Commission and the Council;
Amendment 16 #
Motion for a resolution Citation 18 Amendment 160 #
Motion for a resolution Paragraph -1 l (new) -1l. Recalls that in the absence of a full- fledged European Political Union a number of safeguards are necessary, recalls that the Treaty centres these on the Stability and Growth Pact, the no-bail-out clause, the prohibition of privileged access to financial institutions by the public sector, and the exclusion of monetary state financing, thus in principle leaving the responsibility of their acts to the Member States; warns that failure to correctly implement these rules might put the survivability of the entire EMU at risk;
Amendment 161 #
Motion for a resolution Paragraph -1 l (new) -1l. Doesn't expect Treaty changes to be made in the foreseeable future, thus leaving no alternative to apply the present set of rules;
Amendment 162 #
Motion for a resolution Paragraph -1 m (new) -1m. Notes that current level of inflation is well below the ECB's stated aim of 'under, but close to 2%'; believes that this is mainly due to a number of factors that are either of temporary nature or linked to the dramatic decline of energy prices which took anyone by surprise; understands the forceful actions by the ECB is aimed at increasing prices to the intended inflation levels; notes that the typical effects of deflation such as the combination of massive and prolonged price and wage reductions as well as negative growth only temporarily took place in program countries, but can neither be observed at the euro area level nor at the EU level; understands that most forecasts predict a rebound of inflation, further increase of growth as well as a rebound of employment in the near future;
Amendment 163 #
Motion for a resolution Paragraph 1 Amendment 164 #
Motion for a resolution Paragraph 1 Amendment 165 #
Motion for a resolution Paragraph 1 1. Believes that in the current economic
Amendment 166 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation calls for urgent, comprehensive and decisive measures to
Amendment 167 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation calls for
Amendment 168 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation calls for urgent, comprehensive and decisive measures to
Amendment 169 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation calls for urgent, comprehensive and decisive measures to
Amendment 17 #
Motion for a resolution Citation 18 Amendment 170 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation calls for urgent, comprehensive and decisive measures to face
Amendment 171 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation calls for
Amendment 172 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation calls for urgent, comprehensive and decisive measures to face the threat of deflation or very low inflation, low growth, the pressure of migration and high unemployment;
Amendment 173 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation calls for urgent, comprehensive and decisive measures to face the threat of long-lasting deflation or very low inflation, low growth and high unemployment;
Amendment 174 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation in some member states calls for urgent, comprehensive and decisive measures to face the threat of deflation or very low inflation, low growth and high unemployment caused by the debt crises;;
Amendment 175 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation calls for urgent, comprehensive and decisive measures to face the threat of deflation or very low inflation, low growth
Amendment 176 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation calls for urgent, comprehensive and decisive measures to face the threat of deflation or very low inflation, low growth and high unemployment as well as persistent current account imbalances and rising inequality;
Amendment 177 #
Motion for a resolution Paragraph 1 1. Believes that the current economic situation calls for urgent, comprehensive and decisive measures to face the threat of the deflationary pressure or very low inflation, low growth and high unemployment;
Amendment 178 #
Motion for a resolution Paragraph 1 a (new) 1a. Notes that the structural reforms, fiscal consolidation and investments, lower oil prices and ECB's accommodative monetary policy created synergy effect (preconditions) for the stronger economic growth in the EU and the euro area. Forecasted economic growth (EC winter forecasts) for 2015 is up to 1.7 % for the EU and 1.3 % for the euro area, and in 2016 forecasted economic growth is up to 2.1 % for the EU and 1.9 % for euro area;
Amendment 179 #
Motion for a resolution Paragraph 1 a (new) 1a. Stresses that the deflationary pressure is a serious hazard to economic recovery and long-term prosperity; highlights in this context that recent actions by the ECB may need to be accompanied by fiscal measures to combat deflation but that the current economic government framework hampers this strategy
Amendment 18 #
Motion for a resolution Citation 18 a (new) - having regard to the Study of the European Parliamentary Research Service of September 2014: "Common unemployment insurance scheme for the Euro area - Cost of Non-Europe Report",
Amendment 180 #
Motion for a resolution Paragraph 1 a (new) 1a. Acknowledges that the evaluation of the 6 and 2 packs regulations and of the SGP cannot be isolated from the interlinked package of the economic governance, including the European Semester, the TFEU and the Fiscal Compact;
Amendment 181 #
Motion for a resolution Paragraph 1 b (new) 1b. Considers that the assessment by the Commission of the implementation of the new economic governance framework including the 6 and 2 pack regulations gives a picture on the way the different tools and procedures have been used outside any global euro area economic perspectives;
Amendment 182 #
Motion for a resolution Paragraph 1 a (new) 1a. Is of the opinion that the EU is still trapped in an exceptionally long severe economic downturn initiated in 2008; points out that the output gap remains too wide leading to hysteresis and a permanent loss of capacities; believes, that urgent and additional and coordinated fiscal and monetary policies are required if the purpose is both to avoid a debt deflation trap and to create new capacities geared towards the ecological transformation of the EU economy;
Amendment 183 #
Motion for a resolution Paragraph 1 b (new) 1b. Asks in that perspective for a far reaching Green European investment programme for Europe geared towards the social and environmental transformation of the EU economy;
Amendment 184 #
Motion for a resolution Paragraph 1 a (new) 1a. Notes that economic governance in the Euro zone set out with two simple rules to enforce sustainability of public finances, namely in terms of GDP a maximum 3 % threshold on the annual government budget deficit and a maximum 60 % threshold on the stock of government debt (Art. 126 TFEU in conjunction with Protocol (No 12) on the excessive deficit procedure and Art. 125 TFEU);
Amendment 185 #
Motion for a resolution Paragraph 1 b (new) 1b. Notes further that the two rules were complemented by two enforcement mechanisms, namely the possibility to impose sanctions for breaches of the 3% deficit threshold and the possibility to refuse bailouts by other member states based on Art. 125 TFEU;
Amendment 186 #
Motion for a resolution Paragraph 1 a (new) 1a. recalls that article 3 of the Treaty of European Union (TEU) states that the Union, based on a highly competitive social market economy, "shall combat social exclusion and discrimination"; underlines therefore that budgetary policies must also tackle the poverty and social exclusion suffered by Europe's most deprived citizens, as not wasting human resources is a crucial component of competitiveness;
Amendment 187 #
Motion for a resolution Paragraph 1 a (new) 1a. Stresses that the return to sound government budget policies and structural reforms were prerequisite for Member States to regain access to financial markets and kick-start economic growth;
Amendment 188 #
Motion for a resolution Paragraph 2 Amendment 189 #
Motion for a resolution Paragraph 2 Amendment 19 #
Motion for a resolution Citation 18 b (new) - Having regard to the January 2013 Note of the Directorate General for Internal Policies about the "Legal Options for an Additional EMU Fiscal Capacity",
Amendment 190 #
Motion for a resolution Paragraph 2 2. Highlights the fact that the current economic governance framework
Amendment 191 #
Motion for a resolution Paragraph 2 2. Highlights the fact that, while the current economic governance framework
Amendment 192 #
Motion for a resolution Paragraph 2 2.
Amendment 193 #
Motion for a resolution Paragraph 2 2. Highlights the fact that the current economic governance framework does not allow for a proper debate on the
Amendment 194 #
Motion for a resolution Paragraph 2 2. Highlights the fact that the current economic governance framework
Amendment 195 #
Motion for a resolution Paragraph 2 2. Highlights the fact that the current economic governance framework
Amendment 196 #
Motion for a resolution Paragraph 2 2. Highlights the fact that the current economic governance framework does not allow for
Amendment 197 #
Motion for a resolution Paragraph 2 2. Highlights the fact that the current economic governance framework does not
Amendment 198 #
Motion for a resolution Paragraph 2 2. Highlights the fact that the
Amendment 199 #
Motion for a resolution Paragraph 2 2. Highlights the fact that the current economic governance framework
Amendment 2 #
Motion for a resolution Citation 3 Amendment 20 #
Motion for a resolution Citation 19 Amendment 200 #
Motion for a resolution Paragraph 2 2. Highlights the fact that the current economic governance framework does not allow for a proper debate on the economic perspective of the euro area or on an aggregate fiscal stance and does not address the different economic and fiscal situations on an equal footing;
Amendment 201 #
Motion for a resolution Paragraph 2 2. Highlights the fact that the current economic governance framework does not allow for a proper debate on the economic perspective of the euro area or on an aggregate fiscal stance
Amendment 202 #
Motion for a resolution Paragraph 2 2. Highlights the fact that the current economic governance framework
Amendment 203 #
Motion for a resolution Paragraph 2 a (new) 2a. Takes note of the debate launched on the 'neutrality' of the euro area's aggregate fiscal stance in a context when national economies cannot unilaterally adjust through the exchange rate, when the ECB is running out of conventional monetary policy instruments due to the zero lower bound, when much of the private sector is liquidity-constrained due to deleveraging, when some Member States have considerable fiscal room for manoeuvre and when the leverage and multiplier effects from public expenditure are recognised as favourable factors for stronger investment;
Amendment 204 #
Motion for a resolution Paragraph 2 b (new) 2b. Recalls that, according to a recent economic paper published by the Commission, simultaneous fiscal consolidations in euro area countries following the expansionary policies agreed by the G20 in the aftermath of the failure of Lehman brothers, had 'large negative output effects' and 'significant negative spillovers'; recalls that, according to the IMF, the effect of simultaneous fiscal policy contraction across Europe and the tightening of budgetary policies in 2012 has provoked a double-dip recession significantly underestimated until early 2013;
Amendment 205 #
Motion for a resolution Paragraph 2 a (new) 2a. Is concerned that the Commission's recent national budget review is deviating from the principle of equal treatment, having granted three Member States a further reprieve not provided for under current rules;
Amendment 206 #
Motion for a resolution Paragraph 2 a (new) 2a. Deplores that the existing economic governance framework under the SGP together with the strengthened rules of the 6-pack and 2-pack, constrain the Member States' vital fiscal policy space, depriving them of the only effective macroeconomic tool, in a context of depressed internal demand and ineffectiveness of monetary policy;
Amendment 207 #
Motion for a resolution Paragraph 2 b (new) 2b. Believes that the overall economic governance framework is based on the false assumption that fiscal profligacy was the cause of the increase in deficits and debt levels experienced by most Member States; recalls the causal link between the financial crisis and the swift increase of deficit and debt levels determined by the bailouts; stresses that a financial sector based on short term private debt, leverage and systemic risks poses the highest risks on the sustainability of public finances;
Amendment 208 #
Motion for a resolution Paragraph 2 a (new) 2a. Notes that simultaneous fiscal consolidation unintendedly contributed to reduce total output and thus to the overall increase in debt level;
Amendment 209 #
Motion for a resolution Paragraph 2 a (new) 2a. Takes the view that the rules known as the Six Pack and the Two Pack are not balanced and have not been particularly effective, since they are excessively biased towards monitoring and punishing budgetary deviations, which have generally been the consequence rather than the cause of the financial and economic crisis. Budgetary stability cannot be seen as an end in itself unless it contributes to economic growth and the revitalisation of employment. The desirable reduction in public deficits and debt is more likely to be achieved through robust real GDP growth rates than through Draconian tax hikes and cuts to public and social spending;
Amendment 21 #
Motion for a resolution Citation 19 Amendment 210 #
Motion for a resolution Paragraph 2 a (new) 2a. Stresses that public investment is crucial to correct structural imbalances within the European economy and ensure the transition towards a socially and environmentally sustainable economy;
Amendment 211 #
Motion for a resolution Paragraph 2 a (new) 2a. Believes that high surpluses in the core of the Eurozone, most notably in Germany, are just as alarming as high deficits in the Eurozone periphery and therefore insists that macroeconomic imbalances must be considered of joint responsibility;
Amendment 212 #
Motion for a resolution Paragraph 2 b (new) 2b. Finds that changes in economic governance have not fostered European solidarity, but instead resulted in great tensions and divisions between income groups and between surplus and deficit countries.
Amendment 213 #
Motion for a resolution Paragraph 2 c (new) 2c. Believes that internal devaluation such as wage restraint is just as harmful to the collective of the euro zone as excessive debt;
Amendment 214 #
Motion for a resolution Paragraph 2 a (new) 2a. Deplores in particular the Eurogroup decisions taken behind closed doors without transparency and proper accountability; calls for the minutes of the Eurogroup meetings to be published; recalls the conclusion of its report on the troika activities deploring the absence of EU-level democratic legitimacy and accountability of the Eurogroup when it assumes EU-level executive powers;
Amendment 215 #
Motion for a resolution Paragraph 2 b (new) 2b. Recalls the conclusion of its report on the troika activities deploring the blurred scope of the 'technical advising' and 'Eurogroup agency' roles devolved to both the Commission and the ECB in the framework of the design, implementation and assessment of assistance programmes; deplores, from that perspective, the lack of any clear and accountable case-by-case mandates from the Council and the Eurogroup to the Commission; as well as the potential conflict of interest within the Commission between its role in the Troika and its responsibility as guardian of the Treaties;
Amendment 216 #
Motion for a resolution Paragraph 2 a (new) 2a. Highlights the fact that excessive deficits contributed to government debt levels surpassing the 60% debt ceiling for all Euro area members except Finland, Slovakia and Luxemburg, with many countries being close to or even far beyond 100% of government debt and some countries having reached debt levels which they were unable to sustain without a bailout;
Amendment 217 #
Motion for a resolution Paragraph 2 a (new) 2a. Stresses, however, that excessive debts and large macroeconomic imbalances accumulated in some Member States were directly caused by systematic violations of the existing EU fiscal rules;
Amendment 218 #
Motion for a resolution Paragraph 3 Amendment 219 #
Motion for a resolution Paragraph 3 Amendment 22 #
Motion for a resolution Citation 20 Amendment 220 #
Motion for a resolution Paragraph 3 Amendment 221 #
Motion for a resolution Paragraph 3 Amendment 222 #
Motion for a resolution Paragraph 3 3.
Amendment 223 #
Motion for a resolution Paragraph 3 3. Notes that
Amendment 224 #
Motion for a resolution Paragraph 3 3. Notes that
Amendment 225 #
Motion for a resolution Paragraph 3 3. Notes that major policy initiatives w
Amendment 226 #
Motion for a resolution Paragraph 3 3.
Amendment 227 #
Motion for a resolution Paragraph 3 3. Notes that major policy initiatives which included policy recommendations were based on economic forecasts that had not anticipated the low growth and inflation experienced a
Amendment 228 #
Motion for a resolution Paragraph 3 3. Notes that major policy initiatives which included policy recommendations were based on economic forecasts that had not anticipated the low growth and inflation experienced and have not
Amendment 229 #
Motion for a resolution Paragraph 3 3. Notes that major policy initiatives which included policy recommendations were based on economic forecasts that had not anticipated the low growth and inflation experienced and have not fully taken into account the underestimation of the size of the fiscal multiplier, the importance of spillover effects across countries in a period of synchronised consolidation and the deflationary impact of cumulative structural reforms;
Amendment 23 #
Motion for a resolution Citation 20 Amendment 230 #
Motion for a resolution Paragraph 3 3. Notes that major policy initiatives which included policy recommendations were based on economic forecasts that had not anticipated the low growth and inflation experienced and have not fully taken into account the underestimation of the size of the fiscal multiplier, the importance of spillover effects across countries in a period of synchronised consolidation and the deflationary impact of cumulative structural reforms; reminds that measures destined to prevent countries from defaulting on their debt include policy recommendations that need to be revised at regular intervals
Amendment 231 #
Motion for a resolution Paragraph 3 a (new) 3a. Observes that the Macroeconomic Imbalance Procedure settled in the 6 pack has not conducted to a European economic global approach but to fine- tune a bilateral approach between MS and the Commission on structural reforms and the design of Country Specific Recommendations;
Amendment 232 #
Motion for a resolution Paragraph 3 b (new) 3b. Considers that the asymmetric approach to current account surpluses and deficits taken in Regulation (EU) No 1176/2011 and applied in the Macroeconomic Imbalances Procedure should be corrected in light of actual experience, while countries with current account deficits have undertaken significant adjustment over the past years, when countries with large current account surpluses have not done enough to strengthen their domestic demand and growth potential, resulting in a larger- than-forecast current account surplus for the Euro area as a whole, deflationary pressure, low growth and persistently high unemployment;
Amendment 233 #
Motion for a resolution Paragraph 3 c (new) 3c. Is concerned that convergence during the crisis years on reduced national budgetary deficits and improved current account positions has been accompanied by unprecedented divergence on many real economic indicators, including growth, unemployment, household income; highlights persistent divergence in nominal labour costs within the Euro area, which is due to long-standing wage moderation in some countries with high current account surpluses as well as to pre-crisis labour cost increases driven by massive capital inflows in a number of other Member States; highlights that such divergences weaken the Economic and Monetary Union and reduce the benefits of single monetary policy;
Amendment 234 #
Motion for a resolution Paragraph 3 c (new) 3c. Notes that the complex procedures of economic governance have failed to adequately take into account the cumulative, Europe-wide effect of policies pursued at national level, in particular of the aggregate fiscal stance and of the deflationary implications of certain measures;
Amendment 235 #
Motion for a resolution Paragraph 3 a (new) 3a. Notes that in the wake of such cumulative structural reforms which in effect amounted to an internal devaluation, economic institutions and entrepreneurship at micro and regional levels have been weakened, not least due to an increase in general risk averseness, business pessimism about future prospects and greater prudence by lending institutions;
Amendment 236 #
Motion for a resolution Paragraph 3 b (new) 3b. Notes that there exists an inherent ambiguity regarding the formulation and design of Country Specific Recommendations, and this with regard to whether they should reflect the overall interests of the euro zone as a whole, or of the national entity to which they refer, or to a balance between the two, and if the latter, as to what guidelines should be followed to secure such a balance;
Amendment 237 #
Motion for a resolution Paragraph 3 a (new) 3a. Notes that the methodology adopted for the calculation of Output Gap, fundamental in assessing Countries and formulating Country Specific Recommendations, differs significantly from methodologies used by other international Institutions, such as the IMF and OECD;
Amendment 238 #
Motion for a resolution Paragraph 3 a (new) 3a. Emphasizes that coordinated efforts by other member countries and by the ECB have prevented sovereign defaults at the cost of invalidating the no-bailout clause in Art. 125 TFEU as an enforcement mechanism;
Amendment 239 #
Motion for a resolution Paragraph 3 a (new) 3a. Highlights that the cuts in public spending had not expansionary effects as expected, and have resulted in an increase of public debt to gross domestic product ratio, reflecting the self-defeating and pro-cyclical effects of fiscal austerity in a context of economic stagnation;
Amendment 24 #
Motion for a resolution Citation 21 Amendment 240 #
Motion for a resolution Paragraph 3 a (new) 3a. Draws attention to the fact that the strongest negative spill-over effects, including on non-European countries, are those resulting from belated correction of macroeconomic imbalances and fiscal problems;
Amendment 241 #
Motion for a resolution Paragraph 3 b (new) 3b. Invites to compare the results of the adjustment programmes to the catastrophic situation that would have arisen if Member States had defaulted on their debt;
Amendment 242 #
Motion for a resolution Paragraph 3 a (new) 3a. Notes that the burden of the adjustments has been essentially borne by Member States with entered the crisis with high current account surpluses and high debt to GDP ratios creating and overall a deflationary bias;
Amendment 243 #
Motion for a resolution Paragraph 3 b (new) 3b. Points out in particular that the frontloaded and unbalanced austerity measures and the budgetary cuts in basic welfare systems across Europe have not only had dramatic social consequences but have also damaged the European recovery and ultimately unnecessarily aggravated public debt to GDP levels in comparison with a necessary but more gradual and better designed long-term strategy for fiscal consolidation; underlines that some far reaching austerity measures are inconsistent with the the obligations referred to in the Treaty and the EU Charter for Fundamental Rights;
Amendment 244 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for
Amendment 245 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for closer and inclusive economic coordination
Amendment 246 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for
Amendment 247 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for closer and inclusive economic coordination (to
Amendment 248 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for
Amendment 249 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls
Amendment 25 #
Motion for a resolution Citation 21 Amendment 250 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for
Amendment 251 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for
Amendment 252 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for closer and inclusive economic coordination (to increase aggregate demand, improve fiscal sustainability
Amendment 253 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for closer and inclusive economic coordination (to increase aggregate demand, improve fiscal sustainability and allow for fair and sustainable structural reforms and related investments) and for swift reactions so as to correct the most obvious fault lines in the economic
Amendment 254 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for closer and inclusive economic coordination (to increase aggregate demand, favour convergence between Member States, improve fiscal sustainability and allow for fair and sustainable structural reforms and related investments) and for swift reactions so as to correct the most obvious fault lines in the economic governance framework;
Amendment 255 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for
Amendment 256 #
Motion for a resolution Paragraph 4 4. Stresses that the current situation calls for closer and inclusive economic coordination (to increase aggregate demand, improve fiscal sustainability and
Amendment 257 #
Motion for a resolution Paragraph 4 a (new) 4a. Is therefore of the opinion that a legislative revision of the economic governance legal framework is not only needed regarding the budgetary rules but also to provide a basis for a quality investment framework with a view to achieving a binding broader socio- economic convergence process towards the fulfilment of updated EU2020 objectives; disagrees therefore with the Commission assessment according to which the current economic governance framework has been successful and hence that no revision of such legal framework is currently required;
Amendment 258 #
Motion for a resolution Paragraph 4 a (new) 4a. Believes that ensuring the credibility of the framework is key to enhancing its democratic legitimacy; stresses that credibility can only be assured by a consistent and fair implementation of the framework across countries and over time;
Amendment 259 #
Motion for a resolution Paragraph 4 a (new) 4a. Insists that the economic governance framework should not prevent Member States from adopting the necessary counter-cyclical actions aimed at stimulating internal demand, countering high unemployment, low growth and low inflation;
Amendment 26 #
Motion for a resolution Citation 22 Amendment 260 #
Motion for a resolution Paragraph 4 a (new) 4a. Takes the view that the Eurozone needs to be seen as the economic reference unit when setting the corresponding aggregate stances, in particular fiscal and balance of payments stances. In this sense, the political dialogue with the Commission should first be established at Eurozone level, and then extended to Eurozone Member State level, based on the above aggregated economic stances.
Amendment 261 #
Motion for a resolution Paragraph 4 a (new) 4a. Notes that the economic coordination for improving fiscal sustainability should follow an inclusive perspective for the Member States; The Member-States that follow the guidelines of a special fiscal consolidation program should not be excluded from the European Semester;
Amendment 262 #
Motion for a resolution Paragraph 4 a (new) 4a. Believes that the crisis tools promoted and implemented by the European institutions and Member States have resulted in a decline in internal demand and consumption, which has subsequently led to deflation, negative growth and an increase in unemployment, particularly among young people;
Amendment 263 #
Motion for a resolution Paragraph 4 a (new) 4a. Recommends further strengthening of the cooperation in the field of economic governance;
Amendment 264 #
Motion for a resolution Paragraph 4 a (new) 4a. Notes that the 1997 Stability and Growth Pact obliged all member states to achieve a balanced budget (or a surplus) in the medium run and that member states agreed that under a balanced budget here would be sufficient flexibility across the business cycle to keep the deficit below 3%;
Amendment 265 #
Motion for a resolution Paragraph 4 b (new) 4b. Notes that the balanced budget objective fell prey to German and French pressure in the 2005 SGP reform, allowing member states to define even the medium term objective (MTO) for the deficit as nonzero but not greater than 1% of GDP;
Amendment 266 #
Motion for a resolution Paragraph 4 c (new) 4c. Notes that the 2005 SGP shifted the focus of deficit surveillance to the concept of "structural" deficits and obliged member states to reduce the structural deficit by 0.5% of GDP per year if the MTO had not yet been reached, unless lesser efforts were justified by economic reforms or "bad times";
Amendment 267 #
Motion for a resolution Paragraph 4 d (new) 4d. Highlights that member states off their MTOs failed on a large scale to reduce their structural deficits by 0.5% per year, notes that during the 10 years between 2005 and 2014 only Malta complied in at least half of the years considered while all other countries which had not yet reached their MTOs more often than not reduced their structural deficits by much less than 0.5% per year or even increased their structural deficits; emphasizes that despite of this no sanctions, let alone fines have been imposed;
Amendment 268 #
Motion for a resolution Paragraph 5 5.
Amendment 269 #
Motion for a resolution Paragraph 5 5. Warns that the
Amendment 27 #
Motion for a resolution Citation 22 a (new) - having regard to the ECB's Occasional Paper no. 129 of September 2011, The Stability and Growth Pact, Crisis and Reform,
Amendment 270 #
Motion for a resolution Paragraph 5 5. Warns that the complexity and lack of transparency caused by the accumulation of procedures makes the economic governance framework complex
Amendment 271 #
Motion for a resolution Paragraph 5 5. Warns that the
Amendment 272 #
Motion for a resolution Paragraph 5 5. Warns that the accumulation of procedures makes the economic governance framework complex and not transparent enough, which is detrimental to the ownership and acceptance by parliaments, social partners and citizens of guidelines, recommendations and reforms stemming from this framework; acknowledges that this complexity is, because of the incompleteness of the EMU, the product of the urgent multiple attempts to face the crisis by making the framework smarter by taking into account economic conditions while postponing the establishment of a genuine EMU;
Amendment 273 #
Motion for a resolution Paragraph 5 5. Warns that the accumulation of procedures makes the economic governance framework complex and not transparent enough, which is detrimental to the ownership and acceptance by parliaments, social partners and citizens of guidelines, recommendations and reforms stemming from this framework; underlines therefore the need for legal revision that would simplify the complex and often overlapping surveillance and reporting procedures while increasing democratic scrutiny and accountability of the EU Semester framework;
Amendment 274 #
Motion for a resolution Paragraph 5 5. Warns that the accumulation of procedures, the proliferation of escape clauses and the shift in emphasis on conditional (as opposed to unconditional) compliance makes the economic governance framework complex, less predictable and not transparent enough, which is detrimental to its effectiveness and the ownership and acceptance by parliaments, social partners and citizens of guidelines, recommendations and reforms stemming from this framework;
Amendment 275 #
Motion for a resolution Paragraph 5 5. Warns that the accumulation of procedures that is due to the nature of its creation makes the economic governance framework complex and not transparent enough, which is detrimental to the ownership and acceptance
Amendment 276 #
Motion for a resolution Paragraph 5 5. Warns that the accumulation of procedures makes the economic governance framework complex and not transparent enough, which is detrimental to the
Amendment 277 #
Motion for a resolution Paragraph 5 5. Warns that the accumulation of procedures makes the economic governance framework complex
Amendment 278 #
Motion for a resolution Paragraph 5 a (new) 5a. Points out that the Six-Pack and Two- Pack legislations of 2011 and 2013 widened the scope of economic governance to various types of macroeconomic imbalances providing detailed specifications for their prevention and correction as well as a great amount of flexibility in the form of escape clauses for structural reforms, temporary violations, infrastructure investments and adverse business cycle conditions;
Amendment 279 #
Motion for a resolution Paragraph 5 b (new) 5b. Notes that these legislations constitute a further increase in complexity and decrease in transparency of the economic governance framework;
Amendment 28 #
Motion for a resolution Citation 23 Amendment 280 #
Motion for a resolution Paragraph 5 c (new) 5c. Notes that under the Two-Pack and Six-Pack legislations member states are still obliged to reduce their structural deficit by 0.5% per year as long as they have not reached their MTO while in the case of excessive debts the reduction must be "higher than" 0.5% per year;
Amendment 281 #
Motion for a resolution Paragraph 5 d (new) 5d. Emphasizes that in terms of deficits there is some evidence for compliance in 2012 and 2013 mostly in crisis countries, but that the fiscal efforts are again expected to be broadly insufficient in 2014 and 2015; also emphasizes that other Country Specific Recommendations have largely been ignored by Member States;
Amendment 282 #
Motion for a resolution Paragraph 5 a (new) 5a. Highlights that the national ownership of the reform programmes must be increased. Member States should not outsource their national responsibility for the reforms;
Amendment 283 #
Motion for a resolution Paragraph 5 a (new) 5a. Notes the absolute necessity of subjecting the collection and publication of statistical information gathered by the Member States to regular quality audits and of taking corrective measures where necessary to ensure that the measurement of social and economic indicators is accurate, transparent and sustainable;
Amendment 284 #
Motion for a resolution Paragraph 5 a (new) 5a. Suggests, in light of the fact that 16 of the 28 country-specific recommendations contained provisions relating explicitly to the competences of local and regional authorities, that these authorities should be more involved in line with the partnership principle governing the structural funds;
Amendment 285 #
Motion for a resolution Paragraph 5 a (new) 5a. Observes that the current timetable, content and format of the CSR lack ownership by Member States; stresses that, in general, appropriation mechanisms have to be upgraded;
Amendment 286 #
Motion for a resolution Paragraph 5 a (new) 5a. Believes that the economic governance framework has not been able to alleviate the negative social impacts of the crisis and has in some cases prolonged the crisis for ordinary people;
Amendment 287 #
Motion for a resolution Paragraph 5 a (new) 5a. Calls on the Commission to be clear on the European interests and goals that are served by the economic governance framework and limit its recommendations for national policymaking to achieve these goals;
Amendment 288 #
Motion for a resolution Paragraph 6 Amendment 289 #
Motion for a resolution Paragraph 6 Amendment 29 #
Motion for a resolution Citation 23 Amendment 290 #
Motion for a resolution Paragraph 6 6.
Amendment 291 #
Motion for a resolution Paragraph 6 6. Acknowledges that progress has been made with a debate on the Medium-Term
Amendment 292 #
Motion for a resolution Paragraph 6 6. Acknowledges that progress has been made with a debate on the Medium-Term Objective (MTO) and a better ownership of the national debate in euro area Member States, also thanks to the contribution of the national fiscal councils acting as independent bodies monitoring compliance with fiscal rules and macroeconomic forecast;
Amendment 293 #
Motion for a resolution Paragraph 6 6. Acknowledges that some progress has been
Amendment 294 #
Motion for a resolution Paragraph 6 a (new) 6a. Points out that concepts such as "structural deficits" are not directly observable such that their definition involves degrees of arbitrariness, their quantification involves judgemental issues, both opening up room for unwanted and unwarranted discretion;
Amendment 295 #
Motion for a resolution Paragraph 6 b (new) 6b. Points out that the interpretation of current account deficits as "imbalances" may not be warranted if these deficits are used to finance investments which give rise to current account surpluses at a later point in time;
Amendment 296 #
Motion for a resolution Paragraph 6 c (new) 6c. Insists that deficit financing is at the heart of most investment activities and that the Eurozone should encourage investment rather than discourage or control its external financing through questionable rules in the macroeconomic imbalance framework;
Amendment 297 #
Motion for a resolution Paragraph 6 d (new) 6d. Is worried that the multitude of social indicators in the scoreboard will lead to a lack of clarity and distract emphasis from fiscal sustainability;
Amendment 298 #
Motion for a resolution Paragraph 6 e (new) 6e. Concludes that economic governance has yet to show that the highly complex set of rules currently in use are more likely to induce fiscal discipline and debt sustainability than the simpler rules of previous years which did not work well because enforcement mechanisms like sanctions, fines and the no-bailout clause were discarded;
Amendment 299 #
Motion for a resolution Paragraph 6 a (new) 6a. Regrets that the Commission policy recommendations on structural labour market reform resulted in a boom of temporary and part-time jobs with a dramatic impact on unemployment rate, wages and access to bank credit, thus exacerbating the social discontent and people's sense of insecurity;
Amendment 3 #
Motion for a resolution Citation 9 Amendment 30 #
Motion for a resolution Citation 23 – having regard to the CPB Netherlands Bureau for Economic Policy Analysis policy brief of July 2014 entitled ‘Structural budget balance: a love at first
Amendment 300 #
Motion for a resolution Paragraph 6 b (new) 6b. Finds it regrettable that consensus over structural reforms based on fiscal austerity has remained strong in spite of their self-defeating effect on the debt-to- GDP ratio; deplores that, on the contrary, a consensus over a structural reform of banks and a stronger regulation on the financial sector remains weak and uncertain, neglecting the enormous incidence of the too-big to fail problem on EU governments' public finances;
Amendment 301 #
Motion for a resolution Paragraph 6 a (new) 6a. Urges the Commission to assess the impact of the new ESA 2010 rules on the investment capacity of the public authorities and to ensure compliance with the principle of non-discrimination between public and private investments in accordance with Article 345 of the Treaty on the Functioning of the European Union;
Amendment 302 #
Motion for a resolution Subheading 2 Amendment 303 #
Motion for a resolution Subheading 2 Amendment 304 #
Motion for a resolution Subheading 2 Amendment 305 #
Motion for a resolution Paragraph -7 (new) -7. Recalls that the Stability and Growth Pact aims at a balanced budget over the medium term, allowing for budget deficits during downturns and expecting surpluses to be achieved during economic good times, thus compensating for the deficits;
Amendment 306 #
Motion for a resolution Paragraph 7 Amendment 307 #
Motion for a resolution Paragraph 7 7.
Amendment 308 #
Motion for a resolution Paragraph 7 7. Underlines
Amendment 309 #
Motion for a resolution Paragraph 7 7. Underlines
Amendment 31 #
Motion for a resolution Citation 24 Amendment 310 #
Motion for a resolution Paragraph 7 7.
Amendment 311 #
Motion for a resolution Paragraph 7 7. Underlines
Amendment 312 #
Motion for a resolution Paragraph 7 7.
Amendment 313 #
Motion for a resolution Paragraph 7 7.
Amendment 314 #
Motion for a resolution Paragraph 7 7. Underlines all the existing provisions under the Stability and Growth Pact (SGP) which have been put in place to ensure a
Amendment 315 #
Motion for a resolution Paragraph 7 7. Underlines all the existing provisions under the Stability and Growth Pact (SGP) which have been put in place to ensure an anti-cyclical policy; finds it regrettable that these provisions were not put to full use in previous years, in the context of low inflation, low growth and high unemployment in some member states;
Amendment 316 #
Motion for a resolution Paragraph 7 a (new) 7a. Considers that the consolidation bias of the current framework is detrimental to the financing of structural reforms and of overdue investment necessities, and can lead to contradictions in terms of policy recommendations when it comes to meeting EU 2020 targets; recalls that international institutions consider that, if not decisively addressed, the investment gap in Europe could lead to a prolonged period of anaemic growth and unacceptably high unemployment rates, leading to significant loss of competitiveness;
Amendment 317 #
Motion for a resolution Paragraph 7 a (new) 7a. Believes that sufficient flexibility is built in the existing provisions of the Stability and Growth Pact (SGP); stresses that the application of flexibility should solely be based on numerical criteria and quantifiable targets leaving no room for political bargaining;
Amendment 318 #
Motion for a resolution Paragraph 7 b (new) 7b. Acknowledges that progress has been made to strengthen the preventive arm of the SGP: stresses that any new flexibility in granting deviations from the Medium Term Objectives should not endanger this preventive nature of the Pact over the economic cycle and that any deviation should include a real safety margin for all Member States to reach their MTO in the given timeframe;
Amendment 319 #
Motion for a resolution Paragraph 7 c (new) 7c. Requests the Commission and the Council to include an explicit reference to the required fiscal effort for the current and the upcoming year in the relevant recommendations under the preventive and corrective arm of the SGP; Requests furthermore that all underlying analysis regarding the implementation of the SGP should be published;
Amendment 32 #
Motion for a resolution Citation 24 Amendment 320 #
Motion for a resolution Paragraph 7 a (new) 7a. Believes that since public accounts are not kept according to a coherent accruals systems, provisions under the SGP should give a differentiated weighting to all public investment commitments in the national budgets, so that such investment is not treated in the same light as recurrent expenditure.
Amendment 321 #
Motion for a resolution Paragraph 7 a (new) 7a. Regrets that the historically low interest rates which followed the introduction of the Economic and Monetary Union were only rarely used to decrease the sovereign debt, and in some cases even misused to increase the debt on the false grounds that borrowing would cost nearly nothing;
Amendment 322 #
Motion for a resolution Paragraph 8 Amendment 323 #
Motion for a resolution Paragraph 8 8. Welcomes the fact that in its interpretative communication on flexibility, the Commission
Amendment 324 #
Motion for a resolution Paragraph 8 8.
Amendment 325 #
Motion for a resolution Paragraph 8 8. Welcomes the fact that in its interpretative communication on flexibility, "Making the best use of the flexibility within the existing rules of the SGP", the Commission
Amendment 326 #
Motion for a resolution Paragraph 8 8. Welcomes the fact that in its interpretative communication on flexibility, the Commission acknowledges that the way in which the current fiscal rules are interpreted
Amendment 327 #
Motion for a resolution Paragraph 8 8.
Amendment 328 #
Motion for a resolution Paragraph 8 8. Welcomes the fact that in its interpretative communication on flexibility, the Commission acknowledges that the way in which the current fiscal
Amendment 329 #
Motion for a resolution Paragraph 8 8. Welcomes the
Amendment 33 #
Motion for a resolution Citation 25 Amendment 330 #
Motion for a resolution Paragraph 8 8.
Amendment 331 #
Motion for a resolution Paragraph 8 8.
Amendment 332 #
Motion for a resolution Paragraph 8 8. Welcomes the fact that in its interpretative communication on flexibility, the Commission acknowledges that the way in which the current fiscal rules are interpreted is crucial in bridging the investment gap in the EU and implementing growth-enhancing structural reforms in a sustainable way;
Amendment 333 #
Motion for a resolution Paragraph 8 a (new) 8a. Reminds that expansionary fiscal policies are limited by the degree of flexibility built into the current economic governance framework; warns that flexibility should not be increased by changing the current set of rules since this would compromise debt sustainability as the ultimate goal of economic governance;
Amendment 334 #
Motion for a resolution Paragraph 8 a (new) 8a. Stresses that it is important to take into account that the Member States need to have adequate fiscal space so as to manoeuvre in their anticyclical policies; fiscal space requires not a dogmatic view for primary surpluses but a more flexible view that allows Member- States to have room also for institutionally controlled and adequate fiscal deficits, if necessary;
Amendment 335 #
Motion for a resolution Paragraph 8 a (new) 8a. Underlines that it is possible to increase investments even in an environment of an overall reduction of public spending, as called for by ECB President Draghi in his Jackson Hole speech; urges to follow his appeal to shift expenditures towards growth enhancing investments; underlines that this was successfully done in EU countries in their struggle to escape the crisis;
Amendment 336 #
Motion for a resolution Paragraph 8 a (new) 8a. Considers that in order to ensure the long term sustainability of national public finances, it is of the utmost importance for the Commission to check the quality and relevance of public finances, in particular that national budgets are future oriented, by identifying, together with Eurostat, and encouraging the investment expenditures rather than the consumption expenditures, in accordance with Article 126(3) of the Treaty on the Functioning of the European Union;
Amendment 337 #
Motion for a resolution Paragraph 8 a (new) 8a. Calls on the Commission to encourage the use of ESI funds by prolongation of the fiscal adjustment period, especially were they would be used as a flanking measure for structural reforms and increase of investments;
Amendment 338 #
Motion for a resolution Paragraph 8 a (new) 8a. Considers however that persisting poor economic performance should lead to a serious debate on those fiscal rules and their capacity to serve economic performance, job creation and fiscal sustainability;
Amendment 339 #
Motion for a resolution Paragraph 8 b (new) 8b. Insists that the economic governance framework - in particularly the SGP - must not prevent Member States from adopting the necessary counter-cyclical actions aimed at stimulating internal demand, countering high unemployment, social exclusion and low growth;
Amendment 34 #
Motion for a resolution Citation 25 Amendment 340 #
Motion for a resolution Paragraph 8 a (new) 8a. Underlines the importance of taking into account the overall economic situation in the Union in interpreting fiscal rules, as clarified by the EC communication on flexibility;
Amendment 341 #
Motion for a resolution Paragraph 9 Amendment 342 #
Motion for a resolution Paragraph 9 9.
Amendment 343 #
Motion for a resolution Paragraph 9 9. Supports
Amendment 344 #
Motion for a resolution Paragraph 9 9. Supports all the incentives proposed by the European Commission to finance the new European Fund for Strategic Investments (EFSI), mainly by making national contributions to the fund fiscally neutral as regards t
Amendment 345 #
Motion for a resolution Paragraph 9 9. Supports all the incentives to finance the new European Fund for Strategic Investments (EFSI), mainly by
Amendment 346 #
Motion for a resolution Paragraph 9 9.
Amendment 347 #
Motion for a resolution Paragraph 9 9. Supports
Amendment 348 #
Motion for a resolution Paragraph 9 9. Supports
Amendment 349 #
Motion for a resolution Paragraph 9 9. Supports all the incentives to finance the new European Fund for Strategic Investments (EFSI), mainly by making national contributions to the fund fiscally neutral as regards the SGP; calls for further clarification regarding the concrete treatment of these contributions in accordance with the new paradigm set out in the communication; stresses at the same time that EFSI-funded projects must, under no circumstances simply replace investment already planned and that net investment must, on the contrary, be effectively increased as a result;
Amendment 35 #
Motion for a resolution Citation 26 Amendment 350 #
Motion for a resolution Paragraph 9 9.
Amendment 351 #
Motion for a resolution Paragraph 9 9. Supports all the incentives to finance the new European Fund for Strategic Investments (EFSI), mainly by making national contributions to the fund fiscally neutral as regards the SGP; calls for further clarification regarding the concrete treatment of these contributions in accordance with the new paradigm set out in the communication; takes the view, further, that the EFSI should be placed on a more permanent footing beyond 2019, thereby becoming the European Union’s anti-cyclical mechanism;
Amendment 352 #
Motion for a resolution Paragraph 9 9. Supports all the incentives to finance the new European Fund for Strategic Investments (EFSI), mainly by
Amendment 353 #
Motion for a resolution Paragraph 9 9. Supports all the incentives to finance the new European Fund for Strategic Investments (EFSI), mainly by making national contributions to the fund fiscally neutral as regards the SGP; calls for further clarification regarding the concrete treatment of these contributions in accordance with the new paradigm set out in the communication; underlines the importance of the additionality of the EFSI financing
Amendment 354 #
Motion for a resolution Paragraph 9 a (new) 9a. Stresses in particular the importance of the regulatory component of the investment programme for an improved investment climate;
Amendment 355 #
Motion for a resolution Paragraph 9 a (new) 9a. Regrets however that to establish the EFSI, instead of drawing on fresh public and private money, recourse has been had to drawing on funds that had been earmarked for research, when research is a key element in laying the foundations for the investment of the future;
Amendment 356 #
Motion for a resolution Paragraph 9 a (new) 9a. notes that the national contributions will be fully calculated as expenditures and thus count towards the deficit, but that the Commission proposes that non- respect of the 3% deficit rule, or the 60% debt rule, would not lead to an Excessive Deficit Procedure to be launched if this is solely due to the EFSI contribution, as long as the excess over the reference value is small and is expected to be temporary;
Amendment 357 #
Motion for a resolution Paragraph 9 a (new) 9a. Stresses the crucial role of the use of the EFSI for SMEs that consist the backbone of the EU economy representing approximately 99% of the EU companies;
Amendment 358 #
Motion for a resolution Paragraph 9 a (new) 9a. Warns that, given the current size of government debts, debt sustainability will become even more pressing an issue when interest rates in the Euro area come back to normal levels;
Amendment 359 #
Motion for a resolution Paragraph 9 b (new) 9b. Warns that high level of government debts which are not sustainable at "normal" interest levels may force the ECB to suppress interest rates for the indefinite future at the expense of wealth owners and entailing the risk of increased levels of inflation;
Amendment 36 #
Motion for a resolution Citation 26 Amendment 360 #
Motion for a resolution Paragraph 9 c (new) 9c. Emphasizes that under the current set of rules, the economic governance framework provides ample space to provide fiscal stimuli;
Amendment 361 #
Motion for a resolution Paragraph 9 d (new) 9d. Warns that fiscal stimuli cannot replace structural reforms and that fiscal stimuli are not likely to be successful in an environment where structural reforms have not yet unfolded sizable effects, thus warns to press for even greater stimuli just because growth is not picking up;
Amendment 362 #
Motion for a resolution Paragraph 9 e (new) 9e. Is concerned that the desire to fully exploit the flexibility of the current set of economic governance rules may reinforce the perception that economic governance is unable to impose fiscal discipline on member states; asks the Commission and the Council to credibly commit to the enforcement mechanisms of sanctions, fines, asks national governments to insist on the no-bailout principle of Article 125 TFEU;
Amendment 363 #
Motion for a resolution Paragraph 9 f (new) 9f. Affirms that a credible commitment to the principle of no-bailout would enforce fiscal discipline on member countries without much need of further rules of economic governance, thus reinforcing the sovereignty and responsibility of member states in terms of economic and fiscal policies;
Amendment 364 #
Motion for a resolution Paragraph 9 g (new) 9g. Concludes that a return to the principle of no-bailout and free, decentralized fiscal decisions of member states should be the overarching objective of the European Union's policy of economic governance;
Amendment 365 #
Motion for a resolution Paragraph 9 h (new) 9h. Emphasizes that regulatory reforms like Basle III along with the asset quality review, the stress tests of the banking sector and the banking union can be viewed as increasing the credibility of the no-bailout principle, points out that further measures could be designed if there are concerns that these safeguards are still insufficient;
Amendment 366 #
Motion for a resolution Paragraph 9 i (new) 9i. Emphasizes that adherence to the no- bailout principle reinforces the ties between responsibility and liability which are at the heart of a market economy;
Amendment 367 #
Motion for a resolution Paragraph 9 j (new) 9j. Points out that this is in no contradiction to the principle of European solidarity since the European Union has well-established funds for regional development, cohesion and social policies which may aid countries in need of special support;
Amendment 368 #
Motion for a resolution Paragraph 9 k (new) 9k. Stresses that the level of debt alone does not warrant the solidarity of other European countries as high debt does not indicate an underdeveloped economy or insufficient incomes of parts of the population but rather the fiscal irresponsibility of elected governments;
Amendment 369 #
Motion for a resolution Paragraph 10 Amendment 37 #
Motion for a resolution Citation 26 a (new) - having regard to the ECB's Governing Council proposals of 10th June 2010 entitled 'Reinforcing Economic Governance in the Euro Area',
Amendment 370 #
Motion for a resolution Paragraph 10 10.
Amendment 371 #
Motion for a resolution Paragraph 10 10.
Amendment 372 #
Motion for a resolution Paragraph 10 10. Believes that the communication
Amendment 373 #
Motion for a resolution Paragraph 10 10. Believes that the communication rightly broadens the scope of the investment clause, allowing for flexibility in the preventive arm of the SGP to accommodate investment programmes by the Member States, in particular as regards expenditure on projects under structural and cohesion policy, including the Youth Employment Initiative, trans-European networks and the Connecting Europe Facility, and co-financing under the EFSI; believes that th
Amendment 374 #
Motion for a resolution Paragraph 10 10.
Amendment 375 #
Motion for a resolution Paragraph 10 10. Believes that the communication
Amendment 376 #
Motion for a resolution Paragraph 10 10. Believes that the communication
Amendment 377 #
Motion for a resolution Paragraph 10 10.
Amendment 378 #
Motion for a resolution Paragraph 10 10. Believes that the communication rightly broadens the scope of the investment clause, allowing for flexibility in the preventive arm of the SGP to accommodate investment programmes by the Member States, in particular as regards expenditure on projects under structural and cohesion policy, including the Youth Employment Initiative, trans-European networks and the Connecting Europe Facility, and co-financing under the EFSI; believes that this approach must be urgently reassessed to be symmetrically applied to the corrective arm of the SGP; takes the view that the investment clause should also cover all such measures, i.e. including those carried out by the Member States and which do not take the form of loans or capital contributions, regardless of whether or not they are co- financed by the European Union;
Amendment 379 #
Motion for a resolution Paragraph 10 10.
Amendment 38 #
Motion for a resolution Citation 28 Amendment 380 #
Motion for a resolution Paragraph 10 10. Believes that the communication
Amendment 381 #
Motion for a resolution Paragraph 10 10. Believes that the communication
Amendment 39 #
Motion for a resolution Citation 28 a (new) - having regard to the Commission Recommendation of 25 February 2015 which aims at granting highly indebted countries further time to consolidate their budgets,
Amendment 4 #
Motion for a resolution Citation 10 Amendment 40 #
Motion for a resolution Citation 28 a (new) - having regard to the Commission's sixth report on economic, social and territorial cohesion entitled 'Investment for jobs and growth: promoting economic, social and territorial cohesion in the Union' of 23 July 2014 (hereinafter 'the Sixth Cohesion Report'),
Amendment 41 #
Motion for a resolution Citation 28 b (new) - having regard to the communication from the Commission of 13 January 2015 entitled 'Making the best use of the flexibility within the existing rules of the stability and growth pact' (COM(2015)0012),
Amendment 42 #
Motion for a resolution Citation 28 c (new) - having regard to the Council conclusions on the sixth report on economic, social and territorial cohesion: investment for jobs and growth, adopted by the General Affairs (Cohesion) Council on 19 November 2014,
Amendment 43 #
Motion for a resolution Recital -A (new) -A. whereas the SGP was initially set up in 1997 to enable the coordination of fiscal policies among Member States aimed at avoiding unsustainable fiscal policies which could lead to sovereign debt crises in Member States with detrimental effects on the EMU as a whole;
Amendment 44 #
Motion for a resolution Recital –A a (new) -Aa. whereas a reform of the original SGP took place in 2003-2005 which introduced a number of refinements and increased flexibility, for example through the introduction of escape clauses in the EDP, whereas this reform did not address the problem of weak enforcement provisions, nor reach agreement on the satisfactory pace of debt reduction;
Amendment 45 #
Motion for a resolution Recital –A b (new) -Ab. whereas the legislation previous to the 6- and 2-Packs did not provide the necessary instruments to analyse all factors and effectively and timely correct the problems which may lead to a sovereign debt crisis;
Amendment 46 #
Motion for a resolution Recital –A c (new) -Ac. whereas before the adoption of the 6- pack there was no formal framework to deal with possible macroeconomic imbalances building up within a Member State, except for the informal discussion within the Eurogroup; whereas no action was taken despite repeated warnings made by ECB President Trichet during the meetings of the Eurogroup thus further jeopardizing the economies' resilience against external shocks such as a financial crisis;
Amendment 47 #
Motion for a resolution Recital –A d (new) -Ad. whereas by 1991 public debt averaged almost 60% of GDP in the first twelve euro countries, but almost as soon as the euro had been introduced, consolidation fatigue set in, and a number of Member States went into expansionary expenditure policies, whereas this period can be characterised as wasted good times during which the foundations were laid for the present crisis in the EMU, whereas the decision to stop excessive deficit procedures towards Germany and France fell into that period, triggering a general leniency in the implementation of the SGP;
Amendment 48 #
Motion for a resolution Recital -A e (new) -Ae. whereas in view of the current debt dynamics and additional contingent liabilities for the budget, e.g. those stemming from population ageing, will require almost all euro area countries to conduct major fiscal adjustment over a long period of time in order to insure fiscal sustainability;
Amendment 49 #
Motion for a resolution Recital -A f (new) -Af. whereas until now every monetary union has failed, whereas one of the main causes of their demise was a strong lack of fiscal discipline;
Amendment 5 #
Motion for a resolution Citation 12 Amendment 50 #
Motion for a resolution Recital -A g (new) -Ag. whereas several countries were only hours away from a default on their debt, which would have resulted in a world- wide spread of the crisis that might have triggered a depression worse than that of 1929, a situation that could be averted by putting in place ad-hoc mechanisms such as the EFSF and the EFSM, whereas conditions were attached to the help in order to make sure the loans could later be paid back, which is necessary in order to avoid an infringement of Art. 125 TFEU (no-bail-out clause);
Amendment 51 #
Motion for a resolution Recital -A h (new) -Ah. whereas, in order to avoid a reoccurrence of this kind of crisis, as well as the spreading of the crisis to other countries through the banking sector, a number of measures were taken, which included the creation of the Banking Union, the ESM, an improved economic governance legislation in the form of the 6- and 2-Packs, the TCSG and the European Semester, all of which must be considered as a package;
Amendment 52 #
Motion for a resolution Recital -A i (new) -Ai. whereas the primary reason behind the creation of the European Semester was to enhance the ability to identify possible future strains on the finances of a Member State and to correct them through peer pressure before starting the national budgetary procedures (the National Semester);
Amendment 53 #
Motion for a resolution Recital -A j (new) -Aj. whereas the main aim of the SGP and the economic governance framework has thus always been and remains the avoidance of a sovereign debt crisis and its detrimental effects on EMU through responsible policies at national level and policy coordination at the EU level;
Amendment 54 #
Motion for a resolution Recital -A k (new) -Ak. whereas , based on the review clauses in the 6- and 2-Packs and the ensuing Commission Communication of 28 November 2014, the central question of the review is whether the 6- and 2-pack have reached their objectives of avoiding unsustainable fiscal policies, the early detection and if necessary correction of macroeconomic imbalances and strengthened monitoring and surveillance for Member States threatened with or experiencing serious difficulties;
Amendment 55 #
Motion for a resolution Recital -A l (new) -Al. whereas the review furthermore analyses to what extent the 6- and 2-pack have contributed to progress in ensuring closer coordination of economic policies of the Member States while ensuring a high level of transparency, credibility and democratic accountability;
Amendment 56 #
Motion for a resolution Recital A Amendment 57 #
Motion for a resolution Recital A A. whereas, according to the Commission’s autumn forecast, after two consecutive years of
Amendment 58 #
Motion for a resolution Recital A A. whereas, according to the Commission
Amendment 59 #
Motion for a resolution Recital A A. whereas, according to the Commission
Amendment 6 #
Motion for a resolution Citation 14 a (new) - having regard to its resolution of 20 November 2012 on 'Towards a genuine EMU', the Commission Communication of 28 November 2012 entitled 'A blueprint for a deep and genuine economic and monetary union Launching a European Debate' and the Four Presidents' report of 5 December 2012 entitled 'Towards a genuine EMU',
Amendment 60 #
Motion for a resolution Recital A A. whereas, according to the Commission’s autumn forecast, after two consecutive years of unanticipated negative growth, gross domestic product (GDP) in the euro area is expected to rise by 0.8 % in 2014
Amendment 61 #
Motion for a resolution Recital A A. whereas, according to the Commission’s
Amendment 62 #
Motion for a resolution Recital A A. whereas, according to the Commission’s
Amendment 63 #
Motion for a resolution Recital A A. whereas, according to the Commission’s autumn forecast, after two consecutive years of unanticipated negative growth, gross domestic product (GDP) in the euro area is expected to rise by 0.8 % in 2014 and by 1.1 % in 2015, meaning that the pre-crisis growth rate will not be regained this year; whereas recovery is not strong but will continue, according to the IMF, which estimates a growth of 1.2% in the Euro area 2015 and 1.4% in 20161 a ; __________________ 1a IMF World Economic Outlook UPDATE,20.01.15, http://www.imf.org/external/pubs/ft/weo/2 015/update/01/pdf/0115.pdf
Amendment 64 #
Motion for a resolution Recital A A. whereas, according to the Commission
Amendment 65 #
Motion for a resolution Recital A A. whereas, according to the Commission’s autumn forecast, after two consecutive years of unanticipated negative growth, gross domestic product (GDP) in the euro area is expected to rise by 0.8 % in 2014 and by 1.1 % in 2015, meaning that the
Amendment 66 #
Motion for a resolution Recital A a (new) Aa. whereas the Eurozone has a common monetary policy but each of the Eurozone members is sovereign in its fiscal policy decisions;
Amendment 67 #
Motion for a resolution Recital A b (new) Ab. whereas heterogeneity among member states and asymmetric shocks may require very different economic policy responses in member states, whereas this provides a permanent challenge for the monetary union unless heterogeneity among member states can be reduced, fiscal and economic policies can be coordinated and the likelihood of severe asymmetric shock can be reduced;
Amendment 68 #
Motion for a resolution Recital A a (new) Aa. whereas global economy growth is estimated to be on a low level for 2015 and 2016: according to the IMF, 3.5% this year, compared to 3.7% 20161 a ; __________________ 1a IMF World Economic Outlook UPDATE,20.01.15, http://www.imf.org/external/pubs/ft/weo/2 015/update/01/pdf/0115.pdf
Amendment 69 #
Motion for a resolution Recital A c (new) Ac. whereas the Eurozone has always tried to achieve convergence among member states using a rules-based approach, whereas these rules of economic governance have undergone many changes moving from a set of a few, easy to comprehend rules to a highly complex framework today;
Amendment 7 #
Motion for a resolution Citation 14 a (new) - having regard to the Commission’s Sixth report on economic, social and territorial cohesion of 23 July 2014 (COM(2014)0473),
Amendment 70 #
Motion for a resolution Recital A d (new) Ad. whereas many rules of economic governance have been disrespected many times, most prominently the no-bailout clause of Article 125 TFEU, whereas European facilities which provide credits to Member States unable to finance themselves on private capital markets violate the spirit of Article 125 TFEU;
Amendment 71 #
Motion for a resolution Recital A b (new) Ab. whereas the sharp fall in oil prices can be an additional boost for the economy of many EU Member States;
Amendment 72 #
Motion for a resolution Recital A c (new) Ac. whereas for the first time since 2011, there has been a small increase in full time contracts and improvements in the situation of young people; whereas however, many of the new jobs created are part-time or temporary1 a ; whereas EU employment is foreseen to start growing, leading to a decline in the overall EU unemployment rate towards 9.5 % by 20161 b; __________________ 1b Employment and Social Developments in Europe 2014, European Commission, 15th January 2015, http://ec.europa.eu/social, pages 15-17
Amendment 73 #
Motion for a resolution Recital A d (new) Amendment 74 #
Motion for a resolution Recital A a (new) Aa. whereas economic governance in the Economic and Monetary Union necessarily, on the basis of solidarity, operates in accordance with national disciplines and the maximising of sustainable growth in all parties to the Stability and Growth Pact;
Amendment 75 #
Motion for a resolution Recital A b (new) Ab. whereas the Stability and Growth Pact is the organic text underpinning the entire structure of the European Semester; whereas its spirit of pacta sunt servanda and its interpretation, in particular in relation to the flexibility criteria, may not derogate from the fundamental requirements of solidarity and responsibility;
Amendment 76 #
Motion for a resolution Recital A a (new) Aa. Whereas there have been substantial revisions in the potential growth estimates in successive Commission's forecasts;
Amendment 77 #
Motion for a resolution Recital A b (new) Ab. whereas the concept of potential GDP growth – which underpins the Medium- Term Objectives, the expenditure benchmark, and the definition of severe economic downturn – remains unclear and questionable;
Amendment 78 #
Motion for a resolution Recital A a (new) Aa. whereas, according to article 2 of the TEU, the Union is founded on the values of respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights, including the rights of persons belonging to minorities;
Amendment 79 #
Motion for a resolution Recital B Amendment 8 #
Motion for a resolution Citation 14 a (new) - having regard to the conclusions of the European Council meeting on 23rd October 2011,
Amendment 80 #
Motion for a resolution Recital B B. whereas huge differences will continue to prevail between the Member States, also following the Troika’s intervention, with forecasted GDP growth rates in 2014 ranging between -2.8 % in Cyprus and +4.6 % in Ireland reflecting increasingly undermining growing internal divergences;
Amendment 81 #
Motion for a resolution Recital B B. whereas huge macroeconomic differences
Amendment 82 #
Motion for a resolution Recital B B. whereas huge differences
Amendment 83 #
Motion for a resolution Recital B B. whereas huge differences will continue to prevail between the Member States,
Amendment 84 #
Motion for a resolution Recital B B. whereas
Amendment 85 #
Motion for a resolution Recital B B. whereas huge differences will continue to prevail between the Member States
Amendment 86 #
Motion for a resolution Recital B B. whereas huge differences
Amendment 87 #
Motion for a resolution Recital B B. whereas huge differences will continue to prevail between the Member States,
Amendment 88 #
Motion for a resolution Recital B B. whereas huge differences will continue to prevail between the Member States, also following the Troika’s intervention, with forecasted GDP growth rates in 2014 ranging between -2.8 % in Cyprus and +4.
Amendment 89 #
Motion for a resolution Recital B B. whereas huge differences will continue to prevail between the Member States, also following the
Amendment 9 #
Motion for a resolution Citation 15 Amendment 90 #
Motion for a resolution Recital B a (new) Ba. whereas economic governance will be successful only if, in line with Article 125 TFEU, no Member State will feel pressed to assume liabilities or commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of another Member State;
Amendment 91 #
Motion for a resolution Recital B a (new) Ba. whereas, according to the Commission's winter forecast, unemployment rate in 2015 and 2016 across the EU and the Eurozone is expected to remain persistently high to alarming levels above 11% and close to 10% respectively;
Amendment 92 #
Motion for a resolution Recital B a (new) Ba. whereas since 2008 regional disparities in employment, unemployment and per capita GDP have increased considerably between and within the majority of Member States;
Amendment 93 #
Motion for a resolution Recital B a (new) Ba. whereas the negative output gap for the euro area, as estimated by the Commission, reached 3% in 2013, the highest level since the peak of the crisis in 2009, and may decline only slowly in 2015;
Amendment 94 #
Motion for a resolution Recital B b (new) Bb. whereas the euro area current account surplus has increased by nearly 3 percentage points since the pre-crisis years to reach 2.8% of GDP in 2014 according to the Commission's winter economic forecast, while the current account surplus of the EU as a whole is expected to reach 1.3% for 2014;
Amendment 95 #
Motion for a resolution Recital B c (new) Bc. whereas, according to the Annual Growth Survey 2015, the aggregate fiscal stance in the euro area will be broadly neutral in 2014 and 2015;
Amendment 96 #
Motion for a resolution Recital B d (new) Bd. whereas six euro area countries still were under Excessive Deficit Procedure (EDP) at the end of 2014 while other Member States had considerable fiscal space to encourage domestic demand;
Amendment 97 #
Motion for a resolution Recital B e (new) Be. whereas sixteen Member States have a debt-to-GDP ratio above the 60% threshold;
Amendment 98 #
Motion for a resolution Recital B f (new) Bf. whereas at the end of 2013, poverty and social exclusion concerned 122.6 million people (24.5%), rising in a large number of Member States and reaching a third of the population in 5 of them;
Amendment 99 #
Motion for a resolution Recital B g (new) Bg. whereas, according to the Commission's winter forecast, the euro area average inflation rate will fall from 1.4% in 2013 to -0.1% in 2015, with significant risks of very low figures for the coming months and years;
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History
(these mark the time of scraping, not the official date of the change)
2015-06-27Show (1) Changes | Timetravel
| activities/6 |
|
2015-06-24Show (2) Changes | Timetravel
| activities/4/docs/0/text |
|
| activities/5 |
|
2015-06-21Show (3) Changes | Timetravel
| activities/3 |
|
| activities/4 |
|
| procedure/stage_reached |
Old
Awaiting committee decisionNew
Awaiting Parliament 1st reading / single reading / budget 1st stage |
2015-06-06Show (1) Changes | Timetravel
| activities/3/date |
Old
2015-06-09T00:00:00New
2015-06-24T00:00:00 |
2015-06-05Show (1) Changes | Timetravel
| activities/2/text |
|
2015-05-22Show (2) Changes | Timetravel
| activities/3/date |
Old
2015-06-10T00:00:00New
2015-06-09T00:00:00 |
| activities/3/type |
Old
Indicative plenary sitting date, 1st reading/single readingNew
Debate in plenary scheduled |
2015-05-15Show (3) Changes | Timetravel
| activities/1/docs |
|
| activities/2 |
|
| other/0 |
|
2015-05-14Show (1) Changes | Timetravel
| activities/1/docs |
|
2015-05-01Show (1) Changes | Timetravel
| activities/2/date |
Old
2015-05-19T00:00:00New
2015-06-10T00:00:00 |
2015-04-26Show (3) Changes | Timetravel
| activities/2/date |
Old
2015-04-28T00:00:00New
2015-05-19T00:00:00 |
| activities/2/type |
Old
Debate in plenary scheduledNew
Indicative plenary sitting date, 1st reading/single reading |
| activities/3 |
|
2015-04-18Show (1) Changes | Timetravel
| activities/3 |
|
2015-03-27Show (1) Changes | Timetravel
| activities/2 |
|
2015-03-12Show (4) Changes | Timetravel
| activities/1 |
|
| activities/2/date |
Old
2015-03-23T00:00:00New
2015-04-14T00:00:00 |
| activities/3/date |
Old
2015-04-15T00:00:00New
2015-04-28T00:00:00 |
| activities/3/type |
Old
Indicative plenary sitting date, 1st reading/single readingNew
Debate in plenary scheduled |
2014-12-12Show (1) Changes | Timetravel
| other/0 |
|
2014-12-11Show (4) Changes | Timetravel
| activities/0/committees/1/shadows/3 |
|
| activities/0/committees/1/shadows/6 |
|
| committees/1/shadows/3 |
|
| committees/1/shadows/6 |
|
2014-12-03Show (1) Changes | Timetravel
| activities/2/date |
Old
2015-03-09T00:00:00New
2015-04-15T00:00:00 |
2014-11-28Show (4) Changes | Timetravel
| activities/0 |
|
| activities/2 |
|
| procedure/dossier_of_the_committee |
ECON/8/01152
|
| procedure/stage_reached |
Old
Preparatory phase in ParliamentNew
Awaiting committee decision |
2014-11-26Show (5) Changes
| activities |
|
| committees |
|
| links |
|
| other |
|
| procedure |
|