BETA


Events

2018/03/08
   EC - Commission response to text adopted in plenary
Documents
2017/10/26
   EP - Results of vote in Parliament
2017/10/26
   EP - Decision by Parliament
Details

The European Parliament adopted by 382 votes to 176, with 51 abstentions, a resolution on the economic policies of the euro area.

Context : Members recalled that according to the Commission’s forecasts, the GDP growth rate for the euro area was 1.8 % in 2016 and is set to remain steady at 1.7 % in 2017 and at 1.9 % in the EU overall, surpassing pre-crisis levels while still being insufficient to boost job creation in the Member States.

The euro area and EU28 unemployment rates were 9.3 % and 7.8 % respectively in April 2017. Significant differences in unemployment rates remain across the EU ranging between 3.2 % and 23.2 %. In addition, the general government debt-to-GDP ratio in the euro area is forecast to stand at 90.3 % in 2017 and 89 % in 2018.

Structural policies : Parliament considered that the uneven growth and employment situation in the euro area requires better coordination of economic policies , in particular through improved and consistent national ownership and sound implementation of the country-specific recommendations (CSR) in the framework of the European Semester. Reforms should take due account of the specific situation and challenges in each Member State.

Stressing that elevated and persistent youth unemployment is a long-term structural risk, Members called for the implementation of sustainable structural reforms to tackle as a priority long-term unemployment, employment not making full use of skills and abilities, and ageing societies to high levels of private and public debt.

Parliament called on the Member States to reduce excessive levels of indebtedness . It also expressed concern at the persistently high level of non-performing loans (NPLs) in some Member States could present a risk to financial stability in Europe. It stressed the need for reforms to improve the business climate to boost productivity, price and non-price competitiveness, investment and employment in the euro area.

The resolution stressed the need:

to agree on additional efforts to boost access of SMEs to finance; to maintain the high employment rates where they have already been achieved; to take account of responsible and growth-friendly wage developments; to introduce tax reforms with a view to improving tax collection, preventing tax avoidance, tax evasion, as well as tackling the high tax burden on labour in Europe.

Investments : given the investment deficit in the euro area, Parliament stated that the economic recovery should be supported by public and private investment, in particular in education, innovation and research and development in order to better adapt to the knowledge economy. Completing the Capital Markets Union is also crucial for attracting and increasing investment, and improving the financing for growth and job creation.

Budgetary policies : Members considered that prudent and foresighted fiscal policies play a fundamental role for the stability of the euro area and the Union as a whole. They underlined that strong coordination of fiscal policies , the proper implementation and compliance with the Union rules, including the full respect of its existing flexibility clauses, provided by the Stability and Growth Pact, in this area are a legal requirement and key to the proper functioning of Economic and Monetary Union (EMU).

Highlighting the need to make public finances sustainable while promoting economic growth and jobs, Parliament emphasised that low interest rate payments, accommodative monetary policies and one-off measures to ease the burden of current debt are only temporary.

Country-specific recommendations (CSRs) : Members expect a greater commitment from Member States to take the necessary policy actions based on agreed country-specific recommendations . While recognising that Member States have made progress in the implementation of CSRs in the area of fiscal policy and active labour market policies, not enough progress was made in areas such as competition in services and the business environment.

All Member States should take steps to correct macro-economic imbalances , in particular high levels of indebtedness, current account surpluses and competitiveness imbalances.

Employment and social policies : Parliament called for continued efforts to strike a balance between the economic and social dimensions of the European Semester process and to promote socially and economically balanced structural reforms that reduce inequalities and promote decent jobs leading to quality employment.

Increased attention should be paid to structural imbalances in the labour market in country-specific recommendations. In addition, the social impact of European policies should be evaluated.

The Commission and the Member States are called on to:

secure adequate funding to combating youth unemployment by continuing the Youth Employment Initiative (YEI) beyond the end of the current multiannual financial framework (MFF) and by enhancing the implementation of the Youth Guarantee Fund; enhance the effectiveness of labour market policies through funding that focuses on the environment, the employer, the worker, health and consumer protection; give greater recognition and visibility to social economy enterprises ; enhance social dialogue , collective bargaining and the position of workers in wage-setting systems; put forward ambitious proposals for a European Pillar of Social Rights ; explore ways of defining what a decent living wage might entail and how to measure it; better coordinate at European level the management of social security schemes ; put in place all suitable mechanisms for greater youth mobility, including apprenticeships.

Parliament called for an integrated anti-poverty strategy to achieve the Europe 2020 poverty target, and called for Member States to work towards the gradual establishment of minimum income schemes ensuring sufficient coverage and take-up.

Lastly, Members called for the European Structural and Investment Funds (ESI Funds) to be used more effectively to promote investment in quality social, health, education and employment services, and to tackle energy poverty, increasing living costs, social exclusion, housing deprivation, and the insufficient quality of housing stock.

Documents
2017/10/26
   EP - End of procedure in Parliament
2017/10/25
   EP - Debate in Parliament
2017/10/23
   EP - Committee report tabled for plenary
Details

The Committee on Economic and Monetary Affairs adopted an own-initiative report by Gunnar HÖKMARK (EPP, SE) on the economic policies of the euro area.

The Committee on Employment and Social Affairs, exercising its prerogative as an associated committee in accordance with Article 54 of the Rules of Procedure, also gave its opinion on the report.

Members recalled that according to the Commission’s forecasts, the GDP growth rate for the euro area was 1.8 % in 2016 and is set to remain steady at 1.7 % in 2017 and at 1.9 % in the EU overall, surpassing pre-crisis levels while still being insufficient to boost job creation in the Member States.

The euro area and EU28 unemployment rates were 9.3 % and 7.8 % respectively in April 2017. Significant differences in unemployment rates remain across the EU ranging between 3.2 % and 23.2 %. In addition, the general government debt-to-GDP ratio in the euro area is forecast to stand at 90.3 % in 2017 and 89 % in 2018.

Structural policies : Members considered that the uneven growth and employment situation in the euro area requires better coordination of economic policies , in particular through improved and consistent national ownership and sound implementation of the country-specific recommendations (CSR) in the framework of the European Semester.

In this context, they called for the implementation of sustainable structural reforms to tackle as a priority long-term unemployment, employment not making full use of skills and abilities, and ageing societies to high levels of private and public debt.

They called on the Member States to reduce excessive levels of indebtedness. Members also expressed concern at the persistently high level of non-performing loans (NPLs) in some Member States could present a risk to financial stability in Europe.

The report stressed the need:

to agree on additional efforts to boost access of SMEs to finance; to maintain the high employment rates where they have already been achieved; to take account of responsible and growth-friendly wage developments; to introduce tax reforms with a view to improving tax collection, preventing tax avoidance, tax evasion, as well as tackling the high tax burden on labour in Europe.

Investments : Members called for action to address the 'investment gap' accumulated since the outbreak of the crisis.

Investments in education, innovation and research and development would allow to better adopt to the knowledge economy. Completing the Capital Markets Union is also crucial for attracting and increasing investment, and improving the financing for growth and job creation.

Budgetary policies : Members considered that prudent and foresighted fiscal policies play a fundamental role for the stability of the euro area and the Union as a whole. They underlined that strong coordination of fiscal policies , the proper implementation and compliance with the Union rules, including the full respect of its existing flexibility clauses, in this area are a legal requirement and key to the proper functioning of Economic and Monetary Union (EMU).

Given that public debt remains high in some Member States, the report stressed the need to make public finances sustainable while promoting economic growth and jobs.

Country-specific recommendations (CSRs) : Members expect a greater commitment from Member States to take the necessary policy actions based on agreed country-specific recommendations.

While recognising that Member States have made progress in the implementation of CSRs in the area of fiscal policy and active labour market policies, not enough progress was made in areas such as competition in services and the business environment.

All Member States should take steps to correct macro-economic imbalances , in particular high levels of indebtedness, current account surpluses and competitiveness imbalances.

Employment and social policies : Members called for continued efforts to strike a balance between the economic and social dimensions of the European Semester process and to promote socially and economically balanced structural reforms that reduce inequalities and promote decent jobs leading to quality employment, sustainable growth and social investment.

Increased attention should be paid to structural imbalances in the labour market in country-specific recommendations. In addition, the social impact of European policies should be evaluated.

The Commission is invited, inter alia , to:

secure adequate funding to combating youth unemployment , which remains unacceptably high in the Union, and to continue the Youth Employment Initiative (YEI) beyond the end of the current multiannual financial framework (MFF); give greater recognition and visibility to social economy enterprises; put forward ambitious proposals for a European Pillar of Social Rights; explore ways of defining what a decent living wage might entail and how to measure it; put in place all suitable mechanisms for greater youth mobility , including apprenticeships.

The report called for an integrated anti-poverty strategy to achieve the Europe 2020 poverty target, and called for Member States to work towards the gradual establishment of minimum income schemes .

Lastly, Members called for the European Structural and Investment Funds (ESI Funds) to be used more effectively to promote investment in quality social, health, education and employment services, and to tackle energy poverty, increasing living costs, social exclusion, housing deprivation, and the insufficient quality of housing stock.

Documents
2017/10/16
   EP - Vote in committee
2017/09/29
   EP - Committee opinion
Documents
2017/09/08
   EP - Committee opinion
Documents
2017/07/10
   EP - Amendments tabled in committee
Documents
2017/07/06
   EP - Committee referral announced in Parliament
2017/07/06
   EP - Referral to associated committees announced in Parliament
2017/06/15
   EP - TOOM Yana (ALDE) appointed as rapporteur in EMPL
2017/06/02
   EP - Committee draft report
Documents
2017/04/25
   EP - VALCÁRCEL SISO Ramón Luis (PPE) appointed as rapporteur in REGI
2016/07/12
   EP - HÖKMARK Gunnar (PPE) appointed as rapporteur in ECON

Documents

Activities

Votes

A8-0310/2017 - Gunnar Hökmark - Am 1 26/10/2017 12:28:20.000 #

2017/10/26 Outcome: -: 527, +: 68, 0: 15
LU EE CY MT FI LV LT SI IE EL DK SK HR NL AT CZ HU BG PT SE BE IT GB FR RO ES PL DE
Total
5
5
5
6
11
7
8
7
10
14
9
9
11
21
16
18
18
14
16
18
20
53
56
61
27
45
44
74
icon: EFDD EFDD
34

Lithuania EFDD

Abstain (1)

1

Czechia EFDD

For (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: ENF ENF
30

Austria ENF

Against (1)

4

Belgium ENF

For (1)

1

Romania ENF

1

Poland ENF

Against (1)

1
icon: NI NI
13

Hungary NI

2

United Kingdom NI

2

France NI

For (1)

Against (1)

2

Poland NI

2

Germany NI

For (1)

Against (1)

2
icon: GUE/NGL GUE/NGL
40

Cyprus GUE/NGL

2

Finland GUE/NGL

Against (1)

1

Ireland GUE/NGL

4

Denmark GUE/NGL

Against (1)

1

Netherlands GUE/NGL

2

Czechia GUE/NGL

2

Portugal GUE/NGL

2

Sweden GUE/NGL

Against (1)

1

Italy GUE/NGL

2

Germany GUE/NGL

4
icon: Verts/ALE Verts/ALE
40

Estonia Verts/ALE

Against (1)

1

Finland Verts/ALE

Against (1)

1

Latvia Verts/ALE

Against (1)

1

Lithuania Verts/ALE

Against (1)

1

Slovenia Verts/ALE

Against (1)

1

Denmark Verts/ALE

Against (1)

1

Croatia Verts/ALE

Against (1)

1

Netherlands Verts/ALE

2

Austria Verts/ALE

Against (2)

2

Hungary Verts/ALE

2

Belgium Verts/ALE

2

Italy Verts/ALE

Against (1)

1

United Kingdom Verts/ALE

3

France Verts/ALE

5
icon: ALDE ALDE
53

Luxembourg ALDE

Against (1)

1

Estonia ALDE

3

Finland ALDE

For (1)

3

Latvia ALDE

1

Lithuania ALDE

Against (1)

1

Slovenia ALDE

Against (1)

1

Ireland ALDE

Against (1)

1

Denmark ALDE

2

Croatia ALDE

2

Austria ALDE

Against (1)

1

Portugal ALDE

1

United Kingdom ALDE

Against (1)

1

Romania ALDE

2

Germany ALDE

2
icon: ECR ECR
56

Finland ECR

Against (1)

2

Lithuania ECR

Against (1)

1

Greece ECR

Against (1)

1

Croatia ECR

Against (1)

1

Netherlands ECR

Against (1)

1

Czechia ECR

2

Bulgaria ECR

Against (1)

1

Belgium ECR

3

Italy ECR

Against (1)

1

Romania ECR

Against (1)

1
icon: S&D S&D
162

Luxembourg S&D

Against (1)

1

Estonia S&D

Against (1)

1

Cyprus S&D

2

Malta S&D

3

Finland S&D

2

Latvia S&D

Against (1)

1

Lithuania S&D

2

Slovenia S&D

Against (1)

1

Ireland S&D

Against (1)

1

Greece S&D

2

Denmark S&D

2

Slovakia S&D

Against (1)

1

Croatia S&D

2

Netherlands S&D

3

Czechia S&D

3
3
icon: PPE PPE
180

Luxembourg PPE

3

Cyprus PPE

Against (1)

1

Finland PPE

2

Lithuania PPE

2
4

Greece PPE

2

A8-0310/2017 - Gunnar Hökmark - Am 2 26/10/2017 12:28:32.000 #

2017/10/26 Outcome: -: 506, +: 75, 0: 32
CY IE EE LT LU MT EL FI DK LV SI SK HR CZ HU BG PT SE AT BE NL IT FR GB RO ES PL DE
Total
5
10
5
8
6
6
16
11
9
7
7
9
11
18
18
14
16
18
16
20
21
54
61
56
27
44
44
74
icon: EFDD EFDD
34

Lithuania EFDD

For (1)

1

Czechia EFDD

For (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: ENF ENF
30

Belgium ENF

For (1)

1

Netherlands ENF

4

Romania ENF

1

Poland ENF

Against (1)

1
icon: NI NI
15

Hungary NI

2

France NI

For (1)

Against (1)

2

United Kingdom NI

2

Poland NI

2

Germany NI

2
icon: GUE/NGL GUE/NGL
40

Cyprus GUE/NGL

2

Ireland GUE/NGL

4

Finland GUE/NGL

Abstain (1)

1

Denmark GUE/NGL

For (1)

1

Czechia GUE/NGL

2

Portugal GUE/NGL

2

Sweden GUE/NGL

Abstain (1)

1

Netherlands GUE/NGL

For (1)

Abstain (1)

2

Italy GUE/NGL

2

Germany GUE/NGL

For (1)

4
icon: Verts/ALE Verts/ALE
41

Estonia Verts/ALE

Against (1)

1

Lithuania Verts/ALE

Against (1)

1

Luxembourg Verts/ALE

Against (1)

1

Finland Verts/ALE

Against (1)

1

Denmark Verts/ALE

Against (1)

1

Latvia Verts/ALE

Against (1)

1

Slovenia Verts/ALE

Against (1)

1

Croatia Verts/ALE

Against (1)

1

Hungary Verts/ALE

2

Austria Verts/ALE

Against (2)

2

Belgium Verts/ALE

2

Netherlands Verts/ALE

2

Italy Verts/ALE

Against (1)

1

France Verts/ALE

5

United Kingdom Verts/ALE

3
icon: ECR ECR
56

Lithuania ECR

Against (1)

1

Greece ECR

For (1)

1

Finland ECR

Against (1)

2

Denmark ECR

2

Croatia ECR

Against (1)

1

Czechia ECR

2

Bulgaria ECR

Against (1)

1

Belgium ECR

3

Netherlands ECR

Against (1)

1

Italy ECR

Against (1)

1

Romania ECR

Against (1)

1
icon: ALDE ALDE
53

Ireland ALDE

Against (1)

1

Estonia ALDE

3

Lithuania ALDE

Against (1)

1

Luxembourg ALDE

Against (1)

1

Finland ALDE

Abstain (1)

3

Denmark ALDE

2

Latvia ALDE

1

Slovenia ALDE

Against (1)

1

Croatia ALDE

2

Portugal ALDE

1

Austria ALDE

Against (1)

1

United Kingdom ALDE

Against (1)

1

Romania ALDE

2

Germany ALDE

2
icon: S&D S&D
162

Cyprus S&D

2

Ireland S&D

Against (1)

1

Estonia S&D

Against (1)

1

Lithuania S&D

2

Luxembourg S&D

Against (1)

1

Malta S&D

3

Greece S&D

2

Finland S&D

2

Denmark S&D

2

Latvia S&D

Against (1)

1

Slovenia S&D

Against (1)

1

Slovakia S&D

Against (1)

1

Croatia S&D

2

Czechia S&D

3
3

Netherlands S&D

3
icon: PPE PPE
180

Cyprus PPE

Against (1)

1

Lithuania PPE

2

Luxembourg PPE

3

Greece PPE

2

Finland PPE

2

Denmark PPE

Against (1)

1
4

A8-0310/2017 - Gunnar Hökmark - Résolution de la commission ECON 26/10/2017 12:31:04.000 #

2017/10/26 Outcome: +: 382, -: 176, 0: 51
DE RO ES PL PT BG HU FR BE AT IT HR SE MT LV SI LU CZ SK EE LT NL FI CY IE GB DK EL
Total
73
27
45
43
16
13
18
60
20
16
52
11
18
6
7
7
6
18
9
5
8
21
11
5
10
56
10
16
icon: PPE PPE
178

Luxembourg PPE

3

Finland PPE

2

Cyprus PPE

1

Denmark PPE

For (1)

1
icon: S&D S&D
161

Croatia S&D

2

Malta S&D

3

Latvia S&D

1

Slovenia S&D

For (1)

1

Luxembourg S&D

For (1)

1

Czechia S&D

3

Slovakia S&D

1

Estonia S&D

For (1)

1

Netherlands S&D

3

Cyprus S&D

2

Ireland S&D

Against (1)

1

Denmark S&D

2

Greece S&D

2
icon: ALDE ALDE
52

Germany ALDE

2

Romania ALDE

2

Portugal ALDE

1

Austria ALDE

For (1)

1

Croatia ALDE

2

Latvia ALDE

1

Slovenia ALDE

For (1)

1

Luxembourg ALDE

For (1)

1

Czechia ALDE

For (1)

4

Estonia ALDE

3

Lithuania ALDE

1

Finland ALDE

3

Ireland ALDE

For (1)

1

United Kingdom ALDE

1

Denmark ALDE

For (1)

Abstain (1)

2
icon: NI NI
15

Germany NI

Against (1)

2

Poland NI

Against (1)

Abstain (1)

2

Hungary NI

2

France NI

Against (1)

2

United Kingdom NI

Against (2)

2
icon: ECR ECR
57

Romania ECR

For (1)

1

Bulgaria ECR

Against (1)

1

Belgium ECR

3

Italy ECR

Against (1)

1

Croatia ECR

Against (1)

1

Czechia ECR

2

Slovakia ECR

Abstain (1)

3

Lithuania ECR

Abstain (1)

1

Netherlands ECR

Against (1)

1

Finland ECR

2

Denmark ECR

Abstain (1)

3

Greece ECR

Against (1)

1
icon: ENF ENF
30

Romania ENF

Abstain (1)

1

Poland ENF

Against (1)

1

Belgium ENF

Against (1)

1

Netherlands ENF

4
icon: EFDD EFDD
34

Poland EFDD

1

Sweden EFDD

2

Czechia EFDD

Against (1)

1

Lithuania EFDD

Against (1)

1
icon: GUE/NGL GUE/NGL
39

Germany GUE/NGL

3

Portugal GUE/NGL

2

Italy GUE/NGL

2

Sweden GUE/NGL

Against (1)

1

Czechia GUE/NGL

2

Netherlands GUE/NGL

2

Finland GUE/NGL

Against (1)

1

Cyprus GUE/NGL

2
4

Denmark GUE/NGL

Against (1)

1
icon: Verts/ALE Verts/ALE
41

Hungary Verts/ALE

2

France Verts/ALE

5

Belgium Verts/ALE

2

Austria Verts/ALE

Against (2)

2

Italy Verts/ALE

Against (1)

1

Croatia Verts/ALE

Against (1)

1

Latvia Verts/ALE

Against (1)

1

Slovenia Verts/ALE

Against (1)

1

Luxembourg Verts/ALE

Against (1)

1

Estonia Verts/ALE

Against (1)

1

Lithuania Verts/ALE

Against (1)

1

Netherlands Verts/ALE

2

Finland Verts/ALE

Against (1)

1

United Kingdom Verts/ALE

3

Denmark Verts/ALE

Against (1)

1
AmendmentsDossier
648 2017/2114(INI)
2017/07/10 ECON 408 amendments...
source: 606.306
2017/07/19 REGI 92 amendments...