Awaiting committee decision
2018/2033(INI) Economic policies of the euro area
Next event: Vote scheduled in committee, 1st reading/single reading 2018/10/09
Lead committee dossier: ECON/8/12419
Legal Basis RoP 052
Next event: Vote scheduled in committee, 1st reading/single reading 2018/10/09
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Lead | ECON | BAYET Hugues (S&D) |
Legal Basis RoP 052
Subjects
Activites
-
2018/10/09
Vote scheduled in committee, 1st reading/single reading
-
2018/03/15
Committee referral announced in Parliament, 1st reading/single reading
Documents
| Amendments | Dossier |
| 327 |
2018/2033(INI)
2018/07/16
ECON
327 amendments...
Amendment 1 #
Motion for a resolution Citation 3 a (new) – having regard to its resolution of 24 June 2015 on the review of the economic governance framework: stocktaking and challenges1a _________________ 1a Texts adopted, P8_TA(2015)0238.
Amendment 10 #
Motion for a resolution Citation 21 g (new) – welcomes the Commission’s proposals on the Euro area fiscal capacity, the European Monetary Fund and the Euro Area finance minister;
Amendment 100 #
4b. Supports the recommendation by the independent European Fiscal Board to introduce a somewhat restrictive aggregate euro area fiscal stance in 2019;
Amendment 101 #
Motion for a resolution Paragraph 5 Amendment 102 #
Motion for a resolution Paragraph 5 5. Takes
Amendment 103 #
Motion for a resolution Paragraph 5 5. Takes the view that th
Amendment 104 #
Motion for a resolution Paragraph 5 5. Takes the view that
Amendment 105 #
Motion for a resolution Paragraph 5 5. Takes the view that
Amendment 106 #
Motion for a resolution Paragraph 5 5. Takes the view that the development of new budgetary tools aimed at stabilisation and convergence in the euro area
Amendment 107 #
Motion for a resolution Paragraph 5 5. Takes the view that the development of new budgetary tools aimed at stabilisation and convergence in the euro area would be extremely important for the economic governance of the eurozone in order to avoid, as far as possible, the re- emergence of events already experienced during the years of the financial crisis; considers, to that end, that those tools should include European insurance against unemployment related to the economic cycle; is of the opinion, lastly, that those budgetary tools should be financed from own resources that are specific to the euro area;
Amendment 108 #
Motion for a resolution Paragraph 5 5. Takes the view that the development of new budgetary tools aimed at stabilisation and convergence in the euro area would be extremely important for the economic governance of the Eurozone in order to avoid, as far as possible, the re- emergence of events already experienced during the years of the financial crisis; points out that any kind of macroeconomic conditionality must be avoided in the development of those tools; calls for greater transparency and democratic accountability for all the new budgetary tools;
Amendment 109 #
Motion for a resolution Paragraph 5 5. Takes the view that the development of new budgetary tools aimed at stabilisation and convergence in the euro area would be extremely important for the economic governance of the Eurozone in order to help avoid, as far as possible, the re-
Amendment 11 #
Motion for a resolution Citation 21 h (new) – considers that the Euro area fiscal capacity shall include, in addition to loans, a grant component;
Amendment 110 #
Motion for a resolution Paragraph 5 a (new) 5a. Calls for support programmes to be set up for Member States should they wish – having realised that their participation in EMU has become unsustainable and intolerable – to negotiate their exit from the euro, bearing in mind that programmes of this kind should provide for the compensation necessary to make good such social and economic damage as the countries in question might have suffered because they adopted the single currency;
Amendment 111 #
Motion for a resolution Paragraph 5 a (new) 5a. Stresses that in order to increase the ownership and legitimacy of the European Semester process at both European and national level, its democratic governance should be strengthened, in particular by involving through a Code of Conduct the different levels of governance in charge of the implementation of the CSRs at Member State level;
Amendment 112 #
Motion for a resolution Paragraph 5 a (new) 5a. Recalls that government debt levels are excessively high in some Member States; stresses the importance of bringing down overall debt levels, especially as monetary policy conditions are expected to normalise in the near future;
Amendment 113 #
Motion for a resolution Paragraph 5 a (new) 5a. Rejects a budget for the Eurozone; rejects the proposed European Investment Stabilisation Function; rejects the European Unemployment Insurance; rejects the Structural Reform Support Program; rejects the EFSI and InvestEU;
Amendment 114 #
Motion for a resolution Paragraph 5 b (new) 5b. Objects to the fact that, despite the conclusion of the economic adjustment programmes, Member States that were subject thereto are facing serious economic and social problems and are still affected by the consequences thereof and the policies imposed by the Troika; calls, therefore, for the adoption of an emergency economic support plan for those countries that were subjected to Troika intervention, providing funding and making the exceptions necessary to the functioning of the single market and common policies;
Amendment 115 #
Motion for a resolution Paragraph 6 Amendment 116 #
Motion for a resolution Paragraph 6 Amendment 117 #
Motion for a resolution Paragraph 6 Amendment 118 #
Motion for a resolution Paragraph 6 Amendment 119 #
Motion for a resolution Paragraph 6 6. Recalls the Commission’s commitment to integrate the implementation of the SDGs within the European Semester;
Amendment 12 #
– recalls that the profits of the European Central Bank are an available non-tax resource for the Euro area fiscal capacity;
Amendment 120 #
Motion for a resolution Paragraph 6 6. Recalls the Commission
Amendment 121 #
Motion for a resolution Paragraph 6 6. Recalls the Commission’s commitment to integrate the implementation of the SDGs within the European Semester; regrets the fact that
Amendment 122 #
Motion for a resolution Paragraph 6 6. Recalls the Commission’s commitment to integrate the implementation of the SDGs within the European Semester as part of the EU's new long-term and overarching strategy succeeding the Europe 2020 Strategy ; regrets the fact that this dimension is missing from the 2018 country-specific recommendations;
Amendment 123 #
Motion for a resolution Paragraph 6 a (new) 6a. Recalls that current implementation levels of the country- specific recommendations are too low; believes that the focus of the European Semester should therefore be on national ownership and implementation, rather than adding policy objectives to the European Semester cycle; believes that more national ownership through national and regional parliaments debating country reports and country- specific recommendations would lead to better implementation of country-specific recommendations;
Amendment 124 #
Motion for a resolution Paragraph 6 a (new) 6a. Emphasises that, in line with the principle of subsidiarity, structural reforms at Member State level should be eligible to EU support only if they are of European added value in terms of socio- economic impact, pertain to shared competences of the EU and the Member States, are consistent with the UNSDGs and the Paris Agreement goals and do not exacerbate the cohesion gap between and within Member States;
Amendment 125 #
Motion for a resolution Paragraph 6 a (new) 6a. Stresses the need for the European institutions to respect the sovereignty of each Member State and the decision of citizens to pursue development, growth and social cohesion, ensuring that no country is penalised for stimulating its economy through either public investment plans or redistributive and progressive fiscal policies;
Amendment 126 #
Motion for a resolution Paragraph 6 a (new) 6a. Takes the view that the European Semester should embrace a longer-term approach and wider objectives, consistent with the multiannual financial framework and compatible with the UN SDGs and the Paris Agreement goals, notably by integrating new reference indicators in the social and environmental fields in order to complement the current GDP-led approach;
Amendment 127 #
Motion for a resolution Paragraph 6 a (new) Amendment 128 #
Motion for a resolution Paragraph 6 a (new) 6a. Stresses the importance of ensuring greater national ownership in the formulation and implementation of CSRs;
Amendment 129 #
Motion for a resolution Paragraph 6 b (new) 6b. Highlights that improvements on how the European Semester operates will imply a change in the way Country Specific Recommendations are elaborated, decided and applied; considers that the policy outcome should reach beyond the current conception of structural reforms and fiscal consolidations measures, towards sustainable development reforms capable driving the necessary economic, social and environmental transformations in favour of well-being for all through sustainable growth, inclusiveness and cohesion, and quality job creation;
Amendment 13 #
Motion for a resolution Recital A A. whereas, according to the Commission
Amendment 130 #
Motion for a resolution Paragraph 7 Amendment 131 #
Motion for a resolution Paragraph 7 7. Recalls the importance of equal access to
Amendment 132 #
Motion for a resolution Paragraph 7 7. Recalls the importance of access to quality public services endowed with sufficient resources; points out, in particular, that the best tool for improving social mobility and ensuring a fair distribution of economic and social opportunities is a high-quality universal childcare policy, particularly during the first few years of life;
Amendment 133 #
Motion for a resolution Paragraph 7 7. Recalls the importance of access to quality public services endowed with sufficient resources and based on a reformed judicial environment founded on distinct principles of free and undistorted competition;
Amendment 134 #
Motion for a resolution Paragraph 7 7. Recalls the importance of access to quality public services endowed with sufficient resources; notes that ageing population risks challenging the sustainability of the welfare programmes in a number of Member States;
Amendment 135 #
Motion for a resolution Paragraph 7 7. Recalls the importance of free and universal access to quality public services endowed with sufficient resources;
Amendment 136 #
Motion for a resolution Paragraph 8 8. Insists on bringing expenditure on R&D closer to the EU2020 targets; calls on the Member States to set in place proper policies
Amendment 137 #
Motion for a resolution Paragraph 8 8. Insists on bringing expenditure on R&D closer to the EU2020 targets; calls on the Member States to set in place proper policies, and to provide investment to ensure equal access to lifelong education and training; recalls that only limited progress has been made in a majority of the Member States that received a recommendation on education reforms in 2017;
Amendment 138 #
Motion for a resolution Paragraph 9 9. Recalls the importance of
Amendment 139 #
Motion for a resolution Paragraph 9 9.
Amendment 14 #
Motion for a resolution Recital A A. whereas, according to the Commission’s forecasts, the GDP growth rate for the euro area was 2.4 % in 2017 and will dip slightly to 2.3 % in 2018 and to 2 % in 2019; whereas rec
Amendment 140 #
Motion for a resolution Paragraph 9 9.
Amendment 141 #
Motion for a resolution Paragraph 9 9. Recalls the importance of efficient regulation of the banking and financial sectors to forestall any new crises; welcomes the European Council agreement to a common backstop for the Single Resolution Fund; calls for the step-by-step completion of the Banking Union, including a credible European deposit-insurance scheme; highlights that risk-sharing should go hand-in-hand with risk-reduction, especially reduction of non-performing loans and weakening of the doom-loop between banks and sovereigns;
Amendment 142 #
Motion for a resolution Paragraph 9 9. Recalls the importance of efficient
Amendment 143 #
Motion for a resolution Paragraph 9 9. Recalls the importance of efficient regulation of the banking and financial sectors to forestall any new crises; reiterates, moreover, that risk sharing plays a crucial role in risk reduction and that the establishment of a European Deposit Insurance Scheme is a key building block for the stability of the banking system and of the EU economy;
Amendment 144 #
Motion for a resolution Paragraph 9 9. Recalls the importance of efficient regulation of the banking and financial sectors to forestall any new crises; reiterates that both sufficient levels of loss absorbing capital to make the bail-in requirements fully credible and a credible fiscal backstop to banking union are needed in order to protect the taxpayer and assure systemic stability;
Amendment 145 #
Motion for a resolution Paragraph 9 9. Recalls the importance of efficient regulation of the banking and financial sectors to forestall any new crises; welcomes the Commission proposals to facilitate the SMEs access to financing through public markets and calls for the swift completion of the Banking Union;
Amendment 146 #
Motion for a resolution Paragraph 9 9. Recalls the importance of efficient regulation of the banking and financial sectors to forestall any new crises; recalls the need for risk-reduction measures in the financial sector to go hand in hand with risk-sharing measures such as EDIS;
Amendment 147 #
Motion for a resolution Paragraph 9 9. Recalls the importance of efficient regulation of the banking and financial sectors to forestall any new crises; underlines that substantial progress has been made in this area in recent years;
Amendment 148 #
Motion for a resolution Paragraph 9 a (new) 9a. Points out that the future of the euro area is currently at stake if the ambitious reforms needed for the Economic and Monetary Union are not fulfilled; calls for a democratisation of the economic governance institutions and processes with full scrutiny and enlarged powers to the European Parliament; calls for a budget for the euro area which should be around €100 billion; calls for a reform to enable the ECB to act as the lender of last resort for Member States in exceptional circumstances;
Amendment 149 #
Motion for a resolution Paragraph 9 a (new) 9a. Emphasises the importance of a credible fiscal capacity at the level of the Euro area including an enhanced mechanism to handle acute crises to be organised around a European Monetary Fund and a fiscal backstop to banking union, an automatic macro-reinsurance and a euro area budget that can help stabilise investment and deal with unforeseen eventualities with the legitimacy that comes with democratic decision making at the European level;
Amendment 15 #
Motion for a resolution Recital A A. whereas, according to the Commission’s forecasts, the GDP growth rate for the euro area was 2.4 % in 2017 and will dip slightly to 2.3 % in 2018 and to 2 % in 2019; whereas economic growth is still fragile
Amendment 150 #
Motion for a resolution Paragraph 9 a (new) 9a. Calls for the euro area to be transformed into a club, which Member States should be able to leave without leaving the Union; calls on the Commission to come up with a proposal that creates the necessary legal framework; reminds the Commission that having the proper procedures in place is preferable to a chaotic exit that may happen any time when there is financial turmoil;
Amendment 151 #
Motion for a resolution Paragraph 9 a (new) 9a. Highlights the urgent need for a fully-fledged Capital Markets Union, as financial markets could provide for appropriate private risk-sharing and absorption capacities to counter future external shocks; thereby urges both the Commission and the Member States to move forward with the completion of the Capital Markets Union;
Amendment 152 #
Motion for a resolution Paragraph 9 a (new) 9a. Considers that European Central Bank should adopt all policy measures needed to attain its price stability objective of an inflation rate of close but below 2 per cent in the medium term;
Amendment 153 #
Motion for a resolution Paragraph 9 a (new) 9a. Insists on the need for the CSR to take due account of the impact of the activities related to the coordination and management of migration flows on the euro area countries budgets;
Amendment 154 #
Motion for a resolution Paragraph 9 b (new) 9b. Calls for the macro-insurance to be organised in the form of a European Unemployment Re-Insurance Scheme, combining self-insurance at the national level with reinsurance against large shocks in order to help weather future crises in a predictable and incentive compatible manner;
Amendment 155 #
Motion for a resolution Paragraph 9 b (new) 9b. Welcomes the Commission´s proposal on the issuance of European Safe Bonds;
Amendment 156 #
9c. Recalls the need for urgently completing the Banking Union by establishing a European Deposit Insurance Scheme (EDIS) and a common fiscal backstop;
Amendment 157 #
Motion for a resolution Paragraph 10 10. Recalls that
Amendment 158 #
Motion for a resolution Paragraph 10 10. Recalls that the fight against tax fraud, tax avoidance, tax evasion and aggressive tax planning strategies
Amendment 159 #
Motion for a resolution Paragraph 10 10. Recalls that the fight against aggressive tax planning strategies
Amendment 16 #
Motion for a resolution Recital A A. whereas, according to the Commission’s forecasts, the GDP growth rate for the euro area was 2.4 % in 2017 and
Amendment 160 #
Motion for a resolution Paragraph 10 10. Recalls that the fight against
Amendment 161 #
Motion for a resolution Paragraph 10 10. Recalls that the fight against
Amendment 162 #
Motion for a resolution Paragraph 10 10. Recalls that the fight against
Amendment 163 #
Motion for a resolution Paragraph 10 10. Recalls that the fight against tax evasion and aggressive tax planning strategies is essential to ensure a level playing field as well as the fair treatment of taxpayers, safeguard public finances,
Amendment 164 #
Motion for a resolution Paragraph 10 a (new) 10a. Notes that tax evasion is still a problem in a number of Member States and fight against it, combined with improved tax administration, would help increase fiscal space;
Amendment 165 #
Motion for a resolution Paragraph 10 b (new) 10b. Stresses the need to step up the fight against cross-border VAT fraud which deprives Member States of significant tax revenues;
Amendment 166 #
Motion for a resolution Paragraph 11 Amendment 167 #
Motion for a resolution Paragraph 11 Amendment 168 #
Motion for a resolution Paragraph 11 11.
Amendment 169 #
Motion for a resolution Paragraph 11 11. Welcomes the
Amendment 17 #
Motion for a resolution Recital A A. whereas, according to the Commission’s forecasts, the GDP growth rate for the euro area was 2.4 % in 2017 and will dip slightly to 2.3 % in 2018 and to 2 % in 2019; whereas economic growth is still fragile and is expected to slow down in the face of many systemic challenges such as
Amendment 170 #
Motion for a resolution Paragraph 11 11. Welcomes the Commission recommendation to review the tax systems of a number of Member States which are exploited by multinationals engaged in aggressive tax planning; poin
Amendment 171 #
Motion for a resolution Paragraph 11 11. Welcomes the Commission recommendation to review the tax systems of a number of Member States which are exploited by multinationals engaged in aggressive tax planning;
Amendment 172 #
Motion for a resolution Paragraph 11 11. Welcomes the Commission recommendation to review the tax systems of a number of Member States which are exploited by multinationals engaged in aggressive tax planning; insists on the need to implement a
Amendment 173 #
Motion for a resolution Paragraph 11 11. Welcomes the Commission recommendation to review the tax systems of a number of Member States which are exploited by multinationals engaged in aggressive tax planning; insists on the need to implement an ambitious pCBCR (public country-by-country reporting)
Amendment 174 #
Motion for a resolution Paragraph 11 11. Welcomes the Commission recommendation to review the tax systems of a number of Member States which are exploited by multinationals engaged in aggressive tax planning; insists on the need to implement an ambitious pCBCR (public country-by-country reporting) and CCCTB (common consolidated corporate tax base); reiterates the need to adopt a common minimum tax rate for companies at the EU level, calculated on the basis of the CCCTB, and for the revenues thus generated to be regarded as an own resource for the EU budget;
Amendment 175 #
Motion for a resolution Paragraph 11 11. Welcomes the Commission recommendation to review the tax systems of a number of Member States which are exploited by multinationals engaged in aggressive tax planning; insists on the need to implement an ambitious pCBCR (public country-by-country reporting) and CCCTB (common consolidated corporate tax base); calls on Member States to implement the measures agreed upon on both EU and international level
Amendment 176 #
Motion for a resolution Paragraph 11 a (new) 11a. Recommends an increased sharing of information between national authorities in order to ensure that taxes are paid in EU when this shall be the case and in the relevant Member state;
Amendment 177 #
Motion for a resolution Paragraph 11 a (new) 11a. Welcomes the Commission´s identification of Member States that engage in aggressive tax planning in the context of the European Semester;
Amendment 178 #
Motion for a resolution Paragraph 11 b (new) 11b. Underlines the need for simple and transparent tax policies and regulations;
Amendment 179 #
Motion for a resolution Paragraph 11 c (new) 11c. Underlines that taxation is a national competence, dependent on the political view and actions of governments and parliaments, based upon fiscal policies and political aspirations regarding public spending;
Amendment 18 #
Motion for a resolution Recital A A. whereas, according to the Commission’s forecasts, the GDP growth rate for the euro area was 2.4 % in 2017 and will dip slightly to 2.3 % in 2018 and to 2 % in 2019; whereas economic growth is still fragile and is expected to slow down in the face of many challenges such as higher oil prices; whereas the economic recovery is uneven across the EU; whereas further policy action will nonetheless be required to address unresolved legacies of the global economic crisis; whereas some Member States record high current account surpluses and European macro-economic imbalances are still large;
Amendment 180 #
Motion for a resolution Paragraph 11 d (new) 11d. Stresses that the lack of competitiveness and investment in the EU is linked to a general tax burden that is 10 to 15 % higher than in competing markets, creating hindering tax wedges on companies, investments and labour;
Amendment 181 #
Motion for a resolution Paragraph 11 e (new) 11e. Underlines the importance of lowering taxes in order to strengthen competitiveness and to boost private investments in EU;
Amendment 182 #
Motion for a resolution Paragraph 12 Amendment 183 #
Motion for a resolution Paragraph 12 12. Recalls the need to implement the recommendations of the Panama Papers committee of inquiry, with particularly regard to the keeping of registers of beneficial ownership which shall be regularly updated, standardised, interconnected and made accessible to the public in order to combat the phenomenon of offshore companies;
Amendment 184 #
Motion for a resolution Paragraph 12 12. Recalls the need to implement the recommendations of the TAXE, TAXE2, Panama Papers inquiry committee
Amendment 185 #
Motion for a resolution Paragraph 12 12. Recalls the need to implement the recommendations of the TAXE and TAX2 special committees and the Panama Papers committee of inquiry;
Amendment 186 #
Motion for a resolution Paragraph 12 12. Recalls the need to, without delay, implement the recommendations of the Panama Papers committee of inquiry;
Amendment 187 #
Motion for a resolution Paragraph 13 Amendment 188 #
Motion for a resolution Paragraph 13 Amendment 189 #
Motion for a resolution Paragraph 13 Amendment 19 #
Motion for a resolution Recital A A. whereas, according to the Commission’s forecasts, the GDP growth rate for the euro area was 2.4 % in 2017 and will dip slightly to 2.3 % in 2018 and to 2 % in 2019; whereas economic growth is still fragile and is expected to slow down in the face of many challenges such as higher oil prices and unwillingness of Member States to effect the necessary structural reforms;
Amendment 190 #
Motion for a resolution Paragraph 13 Amendment 191 #
Motion for a resolution Paragraph 13 Amendment 192 #
Motion for a resolution Paragraph 13 13. Encourages stronger coordination
Amendment 193 #
Motion for a resolution Paragraph 13 13. Encourages
Amendment 194 #
Motion for a resolution Paragraph 13 13. Encourages stronger coordination
Amendment 195 #
Motion for a resolution Paragraph 13 13. Encourages
Amendment 196 #
Motion for a resolution Paragraph 13 13. Encourages
Amendment 197 #
Motion for a resolution Paragraph 13 13. Encourages stronger coordination
Amendment 198 #
Motion for a resolution Paragraph 13 13. Encourages stronger coordination and harmonisation of
Amendment 199 #
Motion for a resolution Paragraph 13 13. Encourages stronger coordination and harmonisation of taxation with the objective of reducing the differences among Member States over a
Amendment 2 #
Motion for a resolution Citation 6 a (new) – having regard to the Commission communication of 6 December 2017 entitled 'Further steps towards completing Europe's Economic and Monetary Union: a roadmap' (COM(2017) 821)
Amendment 20 #
Motion for a resolution Recital A a (new) Aa. whereas according to the Commission’s 2018 Spring Economic Forecast, growth will continue at a robust but slightly slower pace, as global financial market volatility and trade protectionism increasingly pose risks to the economic expansion;
Amendment 200 #
Motion for a resolution Paragraph 13 a (new) 13a. Takes note of the set of proposals aiming at having online businesses contributing to public finances at the same level as companies with a physical commercial presence; assumes that these initiatives shall not constitute new European taxes; stresses that they shall establish complementary tools to traditional taxes and they shall be designed to support Member States in their collection process from digital companies operating on their markets;
Amendment 201 #
Motion for a resolution Paragraph 13 a (new) 13a. Calls for a shift from taxation on labour to taxation on capital and green taxation; the latter could be used as a new real own resource for the EU budget, replacing national contributions;
Amendment 202 #
Motion for a resolution Paragraph 13 b (new) 13b. Calls on the need to improve the definition of virtual permanent establishment in the Directive on the corporate taxation of a significant digital presence which currently favours large markets over small ones due to asymmetric thresholds; takes note of the short-term solution set up through a Digital Services Tax (DST) at EU level at a rate of 3% on gross revenue resulting from advertising and the transmission of data; asks the Commission for further clarifications regarding the specific rules to determine when a user is deemed to be located in a Member State;
Amendment 203 #
Motion for a resolution Paragraph 14 Amendment 204 #
Motion for a resolution Paragraph 14 14.
Amendment 205 #
Motion for a resolution Paragraph 14 14. Welcomes the Council recommendation and the Commission’s efforts to encourage Member
Amendment 206 #
Motion for a resolution Paragraph 14 14.
Amendment 207 #
Motion for a resolution Paragraph 14 14. Welcomes the Council recommendation and the Commission’s efforts to encourage Members States with large current account surpluses to promote faster wage growth, strengthen investment and thus foster economic expansion; highlights the fact that since the 2008 financial crisis, real wage growth has
Amendment 208 #
Motion for a resolution Paragraph 14 14. Welcomes the Council recommendation and the Commission’s efforts to encourage Members States with large current account surpluses to promote faster wage growth,
Amendment 209 #
Motion for a resolution Paragraph 14 14.
Amendment 21 #
Motion for a resolution Recital A a (new) Aa. whereas there are still significant economic and social divergences between euro area Member States with the EU objective to close the economic and social gap between Northern and Southern countries far to be reached;
Amendment 210 #
Motion for a resolution Paragraph 14 14. Welcomes the Council recommendation and the Commission’s efforts to encourage Members States with large current account surpluses to promote faster wage growth, strengthen investment and thus foster economic expansion; highlights the fact that real wage growth has, in recent times, lagged behind productivity growth, while improvements have occurred in the labour market; stresses, against this background, that there could be room for wage increases in certain sectors and areas to ensure good standards of living, taking into account the need to tackle inequalities and boost growth; highlights that the wage setting mechanisms should also able to promoting quality job creation, real income increases and preserving the purchasing power of the low wages, also to fight the issue of working poor; calls on the Commission and Member States to promote decent wages and preserve collective bargaining; regrets that the application of some of the country specific recommendations is undermining the collective bargaining in some Member States;
Amendment 211 #
Motion for a resolution Paragraph 14 14. Welcomes the Council recommendation and the Commission’s efforts to encourage Members States with large current account surpluses to promote faster wage growth, strengthen investment and thus foster economic expansion; highlights the fact that real wage growth has, in recent times, lagged behind productivity growth, while improvements have occurred in the labour market; stresses, against this background, that there could be room for wage increases in certain sectors and areas to ensure good standards of living, taking into account the need to tackle inequalities and boost growth; stresses that wage increases should be in line with productivity growth;
Amendment 212 #
Motion for a resolution Paragraph 14 14. Welcomes the Council recommendation and the Commission’s efforts to encourage Members States with large current account surpluses to promote
Amendment 213 #
Motion for a resolution Paragraph 14 a (new) 14a. Stresses that the persistent current account surpluses are the logical consequence of forcing very different economies into a common currency; suggests that these imbalances would exist, but over time be ameliorated in a system of flexible exchange rates that allows for adjustments by currency devaluations; considers that current account deficits in the euro area demonstrate the need for internal devaluation and reform in Member States with current account deficits; reminds Member States with current account deficits that they would probably already be bankrupt if the ECB would not engage in an accommodating fiscal policy, which is a violation of its mandate; notes that current account surpluses signal that a Member State is consuming less than it could, thereby harming its consumers; rejects any mechanism that foresees transfers from Member States with surpluses to other Member States;
Amendment 214 #
Motion for a resolution Paragraph 14 a (new) 14a. Welcomes the fact that employment level in the euro has confidently surpassed the pre-crisis level and is at its highest level ever recorded; notes, however, that skills shortage, loss of jobs due to automation, ageing societies as well as a number of other challenges put a strain on employment growth and reduction of unemployment levels across the Member States;
Amendment 215 #
Motion for a resolution Paragraph 14 a (new) 14a. Is concerned by the still very high public debt levels in the Euro area, which hamper job creation and growth, make Member States vulnerable to crisis and are a burden for future generations; stresses that high levels of public and private debt reduce the possibility to invest, which is necessary to create jobs and growth;
Amendment 216 #
Motion for a resolution Paragraph 14 a (new) 14a. Calls on the Commission to promote voluntary labour mobility as a contribution to tackle the unemployment problem in the crisis-ridden countries, including measures like for example improved recognition of professional qualifications and of contributions to social security systems as well as its benefits;
Amendment 217 #
Motion for a resolution Paragraph 14 a (new) 14a. Stresses the importance of wage developments in line with productivity;
Amendment 218 #
Motion for a resolution Paragraph 14 b (new) 14b. Notes with concern that TARGET 2 imbalances are rising in the euro area again, despite a narrowing in trade imbalances, indicating continued capital outflows from the euro area periphery; calls for TARGET 2 balances to be safeguarded with appropriate collateral;
Amendment 219 #
Motion for a resolution Paragraph 14 b (new) 14b. Stresses that gaps persist in the rate of participation of different population groups in the labour market;
Amendment 22 #
Motion for a resolution Recital B Amendment 220 #
Motion for a resolution Paragraph 14 c (new) 14c. Rejects employing the ESM as backstop for the SRF; reminds that the ESM is a fiscal institution as it is guaranteed and funded by taxpayers' money via the budget of its Member States; rejects any fiscal backstop in the Banking Union in order to avoid recourse to publicly-funded bank bailouts;
Amendment 221 #
Motion for a resolution Paragraph 14 d (new) 14d. Rejects the Commission’s proposal to transform the European Stability Mechanism into a European Monetary Fund; recalls that there is no suitable legal base to incorporate the ESM into the Union legal framework; recalls that the ESM is based on the unanimity principle, which guarantees a veto right for every member of the ESM; calls, instead, for the ESM to be phased out as soon as possible;
Amendment 222 #
Motion for a resolution Paragraph 14 e (new) Amendment 223 #
Motion for a resolution Paragraph 14 f (new) 14f. Rejects using ECB profits from seigniorage as one of the possible new own resources for the EU budget; stresses that turning these profits into an EU own resource would require a change to the Statute of the ESCB and the ECB, as well as adjustments to accommodate the specific situation of non-euro area Member States;
Amendment 224 #
Motion for a resolution Paragraph 15 Amendment 225 #
Motion for a resolution Paragraph 15 Amendment 226 #
Motion for a resolution Paragraph 15 15. Notes
Amendment 227 #
Motion for a resolution Paragraph 15 15.
Amendment 228 #
Motion for a resolution Paragraph 15 15. Notes with concern the recent rise in oil prices which
Amendment 229 #
Motion for a resolution Paragraph 15 15.
Amendment 23 #
Motion for a resolution Recital B B. whereas
Amendment 230 #
Motion for a resolution Paragraph 15 15.
Amendment 231 #
Motion for a resolution Paragraph 15 15. Notes with concern the recent rise in oil prices which generally weakens growth and raises inflation; stresses that, rather than relying on seasonal factors for its recovery, the only way to make the European economy an area of prosperity is to encourage p
Amendment 232 #
Motion for a resolution Paragraph 15 15. Notes with concern the recent rise in oil prices which generally weakens growth and raises inflation; stresses that, rather than relying on seasonal factors for its recovery, the only way to make the European economy an area of prosperity is to encourage public and private investment and promote domestic demand;
Amendment 233 #
Motion for a resolution Paragraph 15 a (new) 15a. Is seriously concerned about the weakness of private investment; calls on Member States and the European Commission to take measures to improve business climate, reduce red tape and encourage high tech and innovative investment;
Amendment 234 #
Amendment 235 #
Motion for a resolution Paragraph 16 Amendment 236 #
Motion for a resolution Paragraph 16 Amendment 237 #
Motion for a resolution Paragraph 16 Amendment 238 #
Motion for a resolution Paragraph 16 Amendment 239 #
Motion for a resolution Paragraph 16 a (new) 16a. Calls for a direct support to promote solid growth and sustainable development of micro, small and medium- sized enterprises, especially in Member States where the crisis has had a greater negative impact;
Amendment 24 #
Motion for a resolution Recital B B. whereas
Amendment 240 #
Motion for a resolution Paragraph 17 Amendment 241 #
Motion for a resolution Paragraph 17 17. Insists on the need for the
Amendment 242 #
Motion for a resolution Paragraph 17 a (new) 17a. Stresses that the European Pillar of Social Rights seeks to draw attention away from the neoliberal EU policies that were instrumental to the major economic crisis and have fuelled precarious employment conditions and inequality between women and men; declares that this pillar seeks to impose a low standard of social rights at EU level, eroding workers’ labour and social rights and seeking to further deepen the exploitation and impoverishment of citizens, while at the same time attempting to legitimise antisocial and undemocratic instruments such as the EU economic governance framework; asserts that progressive social policies can only be achieved by another Europe, one that breaks with the austerity framework and the policies of competitiveness, liberalisation and labour market deregulation that are undermining social and labour rights in the Member States and exerting downward pressure on earnings;
Amendment 243 #
Motion for a resolution Paragraph 17 a (new) 17a. Shares the Commission’s view on the need for changes in labour market legislation that provide flexibility and security for both employees and employers, thereby increasing employment and ensuring sustainable growth;
Amendment 244 #
Motion for a resolution Paragraph 17 a (new) 17a. Insists on the need to accelerate growth through promoting competitiveness and innovation;
Amendment 245 #
Motion for a resolution Paragraph 18 Amendment 246 #
Motion for a resolution Paragraph 18 18. Recalls th
Amendment 247 #
Motion for a resolution Paragraph 18 18. Recalls the need for stronger surveillance of the
Amendment 248 #
Motion for a resolution Paragraph 18 18. Recalls the need for
Amendment 249 #
Motion for a resolution Paragraph 18 18. Recalls the need for stronger surveillance of the employment and social situation in Europe and appropriate and constant follow-up at every step of the European Semester in order to boost
Amendment 25 #
Motion for a resolution Recital B B. whereas unemployment in the EU remains one of the main challenges that Member States are facing as it currently stands, even if the numbers have improved slightly compared with previous years; whereas in 2017 the youth unemployment rate in the euro area was 18.8 %, and was particularly high in Greece (43.6 %), Spain (38.7 %) and Italy (34.8 %);
Amendment 250 #
Motion for a resolution Paragraph 18 18. Recalls the need for stronger surveillance of the employment and social situation in Europe and appropriate and constant follow-up at every step of the European Semester in order to boost quality job creation and thus achieve smart, sustainable and inclusive growth; Calls on the Commission and Member States to reorient the EU budget and cohesion policies so as to fully exploit its potential to reduce inequality and to finance a real sustainable economy that allows us to live well within the earth's biophysical boundaries, creating decent and green jobs and aiding those most deprived out of poverty;
Amendment 251 #
Motion for a resolution Paragraph 18 18. Recalls the need for stronger surveillance of the employment and social situation in Europe and appropriate and constant follow-up at every step of the European Semester in order to boost quality job creation and thus achieve smart, sustainable and inclusive growth; in this regard an increased role should be given to social indicators in the European Semester; moreover, considers that the CSRs should give a more prominent place to the issues related to demographic change;
Amendment 252 #
Motion for a resolution Paragraph 18 18. Recalls the need for stronger surveillance of the employment and social situation in Europe and appropriate and constant follow-up at every step of the European Semester in order to help boost quality job creation and thus achieve smart, sustainable and inclusive growth;
Amendment 253 #
Motion for a resolution Paragraph 19 19. Shares the Commission’s concerns regarding developments in the housing market in some Member States; stresses that rising interest rates and housing prices are having an impact on household private debt; underlines that this debt
Amendment 254 #
Motion for a resolution Paragraph 19 19. Shares the Commission’s concerns regarding developments in the housing market in some Member States; stresses that rising interest rates and housing prices are having an impact on household private debt; underlines that this debt plays a role in the stability of the euro area;
Amendment 255 #
Motion for a resolution Paragraph 19 19. Shares the Commission’s concerns regarding developments in the housing market in some Member States; stresses that rising interest rates and housing prices are having an impact on household private debt; underlines that this debt can play
Amendment 256 #
Motion for a resolution Paragraph 19 19. Shares the Commission’s concerns regarding developments in the housing market in some Member States; stresses that rising interest rates and housing prices are having an impact on household private debt; underlines that this debt plays a role in the stability of the euro area;
Amendment 257 #
Motion for a resolution Paragraph 19 19. Shares the Commission’s concerns regarding developments in the housing market in some Member States; stresses that rising interest rates and housing prices are having an impact on household private debt; underlines that this debt plays a role in the instability of the euro area; calls on the Commission to take initiatives in this area in line with recommendation 19 of the social pillar;
Amendment 258 #
Motion for a resolution Paragraph 19 19. Shares the Commission’s concerns regarding developments in the housing
Amendment 259 #
Motion for a resolution Paragraph 19 19. Shares the Commission’s concerns regarding developments in the housing market in some Member States; stresses that rising interest rates and housing prices are having an impact on household private debt; underlines that
Amendment 26 #
Motion for a resolution Recital B B. whereas in 2017 the youth unemployment rate in the euro area was 18.8 %, and was particularly high in Greece (43.6 %), Spain (38.7 %) and Italy (34.8 %); whereas in the same year long- term unemployment rate was 4.4% in the euro area and particularly high in Greece (15.6%), Spain (7.7%) and Italy (6.5%);
Amendment 260 #
Motion for a resolution Paragraph 19 a (new) 19a. Stresses that support for the transition towards a low-carbon and circular economy will create new jobs in services and in the development of new and more sustainable products and markets; stresses that investments to foster such a transition should be significantly increased at both national and EU levels; regrets that the Commission fails to address in the country specific recommendations the consistency of the Member States' energy policies with the commitments of Paris climate agreement;
Amendment 261 #
Motion for a resolution Paragraph 19 a (new) 19a. Reminds the Member States currently engaged in the Exchange Rate Mechanism (ERM II) that their economic and monetary well-being is dependent on the fate of the euro area; considers that various imbalances in these Member States, e.g. housing bubbles, have their root causes in the fixed exchange rate against the euro;
Amendment 262 #
Motion for a resolution Paragraph 19 a (new) 19a. Calls on the Commission to scrutinise the unfair clauses and practices employed by the banking sector in consumer contracts and to insist on the effective implementation of the relevant European Directive;
Amendment 263 #
Motion for a resolution Paragraph 19 a (new) 19a. Regrets that some member states have not made use of unusually low interest rates to structurally reduce their sovereign debt levels;
Amendment 264 #
Motion for a resolution Paragraph 19 b (new) 19b. Calls for further stabilization of the euro area by increasing its capacity to absorb large-scale economic shocks and respective consequences for the labour market through the introduction of a European Unemployment Insurance Scheme, combining a self-insurance mechanism for national unemployment insurance systems with a European re- insurance as a solidarity mechanism for extreme shocks; calls on the Commission to develop a roadmap towards the establishment of these automatic stabilisers for the EU to be better equipped against asymmetric shocks;
Amendment 265 #
Motion for a resolution Paragraph 19 c (new) 19c. Regrets that there is no focus in the country specific recommendations to ensure decent living standards in the public pensions schemes in Member States;
Amendment 268 #
Motion for a resolution Paragraph 20 Amendment 269 #
Motion for a resolution Paragraph 20 Amendment 27 #
Motion for a resolution Recital B a (new) Ba. whereas the public debt level in the euro area is falling, but still high; whereas at the end of the fourth quarter of 2017 the government debt to GDP ratio in the euro area stood at 86.7 %;
Amendment 270 #
Motion for a resolution Paragraph 20 Amendment 271 #
Motion for a resolution Paragraph 20 Amendment 272 #
Motion for a resolution Paragraph 20 20.
Amendment 273 #
Motion for a resolution Paragraph 20 20.
Amendment 274 #
Motion for a resolution Paragraph 20 20.
Amendment 275 #
Motion for a resolution Paragraph 20 20. Deeply regrets the proposed cuts in cohesion policy, especially for the less wealthy euro area Member States, as set out by the Commission in its MFF proposal; insists on the fact that a decrease in structural funding runs counter to the EU’s objective of strengthening economic, social and territorial cohesion, puts at risk the key importance of the ESIF in stimulating public and private investment, and would send a negative signal to citizens; recalls that the EU cohesion policy has a direct impact on citizens’ lives;
Amendment 276 #
Motion for a resolution Paragraph 21 Amendment 277 #
Motion for a resolution Paragraph 21 21.
Amendment 278 #
Motion for a resolution Paragraph 21 21.
Amendment 279 #
Motion for a resolution Paragraph 21 21.
Amendment 28 #
Motion for a resolution Recital B a (new) Ba. whereas, according to Eurostat, inequality of income distribution in the euro area has increased since the beginning of the financial crisis;
Amendment 280 #
Motion for a resolution Paragraph 21 21.
Amendment 281 #
Motion for a resolution Paragraph 21 21.
Amendment 282 #
Motion for a resolution Paragraph 21 21.
Amendment 283 #
Motion for a resolution Paragraph 22 Amendment 284 #
Motion for a resolution Paragraph 22 Amendment 285 #
Motion for a resolution Paragraph 22 22. Stresses the key importance of structural
Amendment 286 #
Motion for a resolution Paragraph 22 22. Stresses the
Amendment 287 #
Motion for a resolution Paragraph 22 22. Stresses the
Amendment 288 #
22. Stresses the key importance of structural funds, especially for the EU's Eastern Member States, for the stimulation of public investment, taking into account their strong multiplier effect;
Amendment 289 #
Motion for a resolution Paragraph 22 a (new) 22a. Notes that the lack of administrative capacity of the public administration at local and regional level is an obstacle to the implementation of structural reforms and to the long-term investments needed to bridge the investment gap; urges Member States to remove existing obstacles which hinder private and public investment at local and regional level;
Amendment 29 #
Motion for a resolution Recital B b (new) Bb. whereas in the fourth quarter of 2017 the seasonally adjusted general government deficit to GDP ratio in the euro area stood at 0.6 %;
Amendment 290 #
Motion for a resolution Paragraph 23 Amendment 291 #
Motion for a resolution Paragraph 23 Amendment 292 #
Motion for a resolution Paragraph 23 23.
Amendment 293 #
Motion for a resolution Paragraph 23 23.
Amendment 294 #
Motion for a resolution Paragraph 23 23. W
Amendment 295 #
Motion for a resolution Paragraph 23 23.
Amendment 296 #
Motion for a resolution Paragraph 23 23. Warns that the longer the current s
Amendment 297 #
Motion for a resolution Paragraph 23 a (new) 23a. Takes the view that improving the structure of public budgets is a key lever to comply with EU fiscal rules and allow for the financing of indispensable expenditure, building buffers for unforeseen needs and lastly financing non-essential spending;
Amendment 298 #
Motion for a resolution Paragraph 23 b (new) 23b. Calls for an immediate review of public spending in the EU, and encourages Member States to critically assess the quality of their budgets; points out that such a review cannot replace urgent fiscal consolidation needs;
Amendment 299 #
Motion for a resolution Paragraph 23 c (new) 23c. Agrees that the economic upswing needs to be supported by investment and notes that there is still an investment gap in the euro area; recognises, however, that in some Member States investments already exceed the pre-crisis level;
Amendment 3 #
Motion for a resolution Citation 21 a (new) – whereas the euro is the currency of the European Union;
Amendment 30 #
Motion for a resolution Recital C C. whereas Europe still faces a huge investment
Amendment 300 #
Motion for a resolution Paragraph 23 d (new) 23d. Considers that reforms removing investment bottlenecks would allow for immediate support for economic activity and at the same time set the conditions for long-term growth;
Amendment 301 #
Motion for a resolution Paragraph 23 e (new) 23e. Considers that the uneven growth and employment situation in the euro area requires better coordination of structural reforms, in particular through improved implementation of the country- specific recommendations (CSR);
Amendment 302 #
Amendment 303 #
Motion for a resolution Paragraph 24 24.
Amendment 304 #
Motion for a resolution Paragraph 24 24. Takes note of the proposed InvestEU programme which focuses on four key priorities for the EU (sustainable infrastructure; research, innovation and digitisation; small and medium-sized businesses; and social investment); requests that the
Amendment 305 #
Motion for a resolution Paragraph 24 24. Takes note of the proposed InvestEU programme which focuses on four key priorities for the EU (sustainable infrastructure; research, innovation and digitisation; small and medium-sized businesses; and social investment); requests that the focus of the InvestEU programme be placed on efficient resources and decarbonisation projects,
Amendment 306 #
Motion for a resolution Paragraph 24 24. Takes note of the proposed InvestEU programme which focuses on four key priorities for the EU (sustainable infrastructure; research, innovation and digitisation; small and medium-sized businesses; and social investment); requests that the focus of the InvestEU programme be placed on
Amendment 307 #
Motion for a resolution Paragraph 24 24.
Amendment 308 #
Motion for a resolution Paragraph 24 24. Takes note of the proposed InvestEU programme which focuses on four key priorities for the EU (sustainable infrastructure; research, innovation and digitisation; small and medium-sized businesses; and social investment); requests that the focus of the InvestEU programme be placed on efficient resources and decarbonisation projects, and stresses the need to guarantee a more balanced budget allocation among Member States and regions; stresses that the proposed investment programme should aim at labour intensive projects, which seek to create quality employment in the EU, notably by taking proper account of the financing needs in those countries most affected by the crisis;
Amendment 31 #
Motion for a resolution Recital C C. whereas Europe still faces a huge investment deficit, even though
Amendment 310 #
Motion for a resolution Paragraph 24 a (new) 24a. Recalls the importance of a business-friendly administrative and regulatory environment to make it easier for companies, and particularly for scale- ups, to access finance and raise funds cross-border;
Amendment 311 #
Motion for a resolution Paragraph 25 Amendment 312 #
Motion for a resolution Paragraph 25 25.
Amendment 313 #
Motion for a resolution Paragraph 25 25. Recalls that the completion of the EMU requires strong political commitment
Amendment 314 #
Motion for a resolution Paragraph 25 25. Recalls that the completion of the EMU requires strong political
Amendment 315 #
Motion for a resolution Paragraph 25 25. Recalls that the completion of the EMU requires strong political commitment, efficient governance
Amendment 316 #
Motion for a resolution Paragraph 25 25. Recalls that the completion of the EMU requires strong political commitment, efficient governance based on the Community method and democratic accountability, and better
Amendment 317 #
Motion for a resolution Paragraph 25 a (new) 25a. Underlines the need for a stronger focus on the composition of budgets and efficiency of public spending to deliver better on key policy priorities of the EU;
Amendment 318 #
Motion for a resolution Paragraph 25 b (new) 25b. Welcomes the increasing practice of spending reviews, and further encourages Member States to critically assess the quality of their budgets; points out there is significant room to improve the way in which these spending reviews are conducted and, more importantly, their transformative effect on the spending side of public finances;
Amendment 319 #
Motion for a resolution Paragraph 26 Amendment 32 #
Motion for a resolution Recital C C. whereas Europe still faces a
Amendment 320 #
Motion for a resolution Paragraph 26 Amendment 321 #
Motion for a resolution Paragraph 26 Amendment 322 #
Motion for a resolution Paragraph 26 26. Underlines the need to strike the right balance between fiscal responsibility and solidarity;
Amendment 323 #
Motion for a resolution Paragraph 26 26. Underlines the need
Amendment 324 #
Motion for a resolution Paragraph 26 26.
Amendment 325 #
Motion for a resolution Paragraph 26 a (new) 26a. Recalls that investments in areas such as infrastructures, education, training, health, research, digital innovation and the circular economy can increase both productivity and employment while attention needs to be paid to creating quality employment and safe working conditions; welcomes the recognition by the Commission of the need for Member States to invest in affordable, accessible and quality services, such as childcare, education and training, healthcare and housing;
Amendment 326 #
Motion for a resolution Paragraph 26 a (new) 26a. Is extremely worried about the risks due to the delay in setting up the Banking Union and emphasises that a robust and ambitious Banking Union is a key component of a deeper and genuine EMU, and a key policy; Regrets the delay in establishing a Single European Deposit Guarantee Scheme and calls for a fully mutualised EDIS by 2022;
Amendment 327 #
Motion for a resolution Paragraph 26 a (new) 26a. Considers that prudent fiscal policies play a fundamental role for the stability of the euro area and the Union as a whole; underlines that strong coordination of fiscal policies and compliance with the Union rules in this area are a legal requirement and key to the proper functioning of Economic and Monetary Union(EMU);
Amendment 328 #
Motion for a resolution Paragraph 26 b (new) Amendment 33 #
Motion for a resolution Recital C a (new) Ca. whereas it is imperative to break with the neoliberal principles that have been governing the policies imposed by the EU on the peoples and workers of the Member States, bearing in mind that it will only be possible to boost the economy and promote social progress by achieving sustainable economic growth based on decent earnings, work with rights, public control of the strategic sectors of the economy and universal and free access to health and education and through the promotion and socialisation of innovation;
Amendment 34 #
Motion for a resolution Recital C a (new) Ca. whereas the current level of stock market valuations on the financial markets is excessive with regard to businesses’ potential for value creation; whereas the need for shareholder profitability is diametrically opposed to a sustainable increase in salaries; and whereas, in spite of past experience, highly-volatile financial instruments continue to threaten to destabilise Europe’s economies and in particular their systemic banks;
Amendment 35 #
Motion for a resolution Recital C a (new) Ca. whereas the EU’s excessively low productivity and global competitiveness calls for structural reforms, continued fiscal efforts and investment in Member States in order to bring about sustained growth and employment and achieve upward convergence with other global economies and within the EU;
Amendment 36 #
Motion for a resolution Recital C a (new) Ca. whereas structural reforms, such as flexible labour markets, liberalisation of services, increased competition, boosting in innovation and addressing the adaptation of the welfare state to ageing populations, are still below the Commission's targets;
Amendment 37 #
Motion for a resolution Recital C a (new) Ca. whereas the current European Semester is not designed to drive the necessary economic, social and environmental transformations the EU and its Member States are committed to within the UN SDGs for 2030 and the Paris Agreement goals;
Amendment 38 #
Motion for a resolution Recital C a (new) Ca. whereas the average level of debt at the end of 2017 was 81.6% of GDP in the EU28 and 86.7% of GDP in the euro area1a, and whereas this is way above the 60% mark; _________________ 1a Eurostat Press Release 70/2018
Amendment 39 #
Ca. whereas according to the Commission's 2018 Ageing Report, overall in the EU, the total cost of ageing is expected to increase by 1.7 percentage points to 26.7% of GDP between 2016 and 2070;
Amendment 4 #
Motion for a resolution Citation 21 a (new) – having regard to the European Commission's convergence reports;
Amendment 40 #
Motion for a resolution Recital C a (new) Ca. reminds that all Member States without a derogation shall adopt the euro upon meeting the economic and legal criteria;
Amendment 41 #
Motion for a resolution Recital C b (new) Cb. whereas the current economic environment provides a favourable window of opportunity to step up reform implementation; whereas the overall implementation of recommendations by EU countries has advanced slowly in the last few years, in particular when it comes to recommendations addressed to countries with excessive macroeconomic imbalances;
Amendment 42 #
Motion for a resolution Recital C a (new) Ca. whereas the banking union has not been completed and the problem of the sovereign-bank-nexus has not yet been addressed comprehensively;
Amendment 43 #
Motion for a resolution Recital C b (new) Cb. whereas the only purpose of the European Semester and its instruments is basically to ensure that Member States, irrespective of their constitutional provisions and the will of their people, formally establish austere neoliberal economic policies;
Amendment 44 #
Motion for a resolution Recital C b (new) Cb. considers that all Member States without a derogation shall actively implement all necessary policy measures in order to meet the economic and legal criteria for the adoption of the single currency;
Amendment 45 #
Motion for a resolution Recital C b (new) Cb. whereas the implementation of the UN SDGs and the Paris Agreement goals requires a comprehensive, broad and long-term EU strategy in which a reformed European Semester needs to be embedded;
Amendment 46 #
Motion for a resolution Recital C c (new) Cc. considers that an indicative deadline for the adoption of the euro is needed;
Amendment 47 #
Motion for a resolution Recital C d (new) Cd. whereas the Banking Union remains incomplete without a European Deposit Insurance Scheme (EDIS) and a common fiscal backstop;
Amendment 48 #
Motion for a resolution Paragraph 1 1.
Amendment 49 #
Motion for a resolution Paragraph 1 1. Takes note of the Commission’s 2018 country-specific recommendations
Amendment 5 #
Motion for a resolution Citation 21 b (new) – whereas the largest share of the EU´s GDP and population are in the Euro area;
Amendment 50 #
Motion for a resolution Paragraph 1 1. Takes note of the Commission’s 2018 country-specific recommendations (CSR); is concerned that in the period 2011 - 2017 only 9 % of CSRs have been fully implemented; stresses that in particular the implementation of CSRs targeted to fight corruption and to sustain ageing societies need to be stepped up;
Amendment 51 #
Motion for a resolution Paragraph 1 1. Takes note of the Commission’s 2018 country-specific recommendations (CSR); welcomes that the Commission cannot force Member States to comply with its CSR;
Amendment 52 #
Motion for a resolution Paragraph 1 a (new) 1a. Suggests that every Member State should bear all the consequences of the economic policy it has chosen; calls therefore for the introduction of an insolvency procedure for Member States of the euro area;
Amendment 53 #
Motion for a resolution Paragraph 1 a (new) 1a. Deplores the lack of implementation of the Commission CSRs of earlier years; urges Member States to undertake the necessary steps for a higher level of implementation;
Amendment 54 #
Motion for a resolution Paragraph 1 a (new) Amendment 55 #
Motion for a resolution Paragraph 1 a (new) 1a. Calls on the Member States to use the favourable economic situation to reduce government debt, which remains too high;
Amendment 56 #
Motion for a resolution Paragraph 2 Amendment 57 #
Motion for a resolution Paragraph 2 2. Reiterates the urgency of
Amendment 58 #
Motion for a resolution Paragraph 2 2. Reiterates the urgency of
Amendment 59 #
Motion for a resolution Paragraph 2 2. Reiterates the urgency
Amendment 6 #
Motion for a resolution Citation 21 c (new) Amendment 60 #
Motion for a resolution Paragraph 2 2. Reiterates the urgency of carrying on the fight against
Amendment 61 #
Motion for a resolution Paragraph 2 2. Reiterates the urgency of carrying on the fight against the inequalities
Amendment 62 #
Motion for a resolution Paragraph 2 2. Reiterates the urgency of carrying on the fight against the
Amendment 63 #
Motion for a resolution Paragraph 2 a (new) 2a. Takes note of the fact that the current high level of NPLs on banks' balance sheets is a bad sign for the state of the Eurozone’s financial stability; considers that a lack of financial stability is endangering the Eurozone as a whole; calls for a significant reduction of NPLs; insists that taxpayers will not be made liable to bail out banks during the next crisis;
Amendment 64 #
Motion for a resolution Paragraph 2 a (new) 2a. Recalls the Commission's 2018 Ageing Report showing that fiscal cost linked to pensions, health care and long- term are expected to rise over the coming decades, as Europe’s population continues to age significantly;
Amendment 65 #
Motion for a resolution Paragraph 3 3. Considers that growth-orientated
Amendment 66 #
Motion for a resolution Paragraph 3 3.
Amendment 67 #
Motion for a resolution Paragraph 3 3. Considers that growth-orientated
Amendment 68 #
Motion for a resolution Paragraph 3 3. Considers that growth-
Amendment 69 #
Motion for a resolution Paragraph 3 3. Considers that
Amendment 7 #
Motion for a resolution Citation 21 d (new) – welcomes the monetary policies adopted by the European Central Bank in support of the single currency, price and financial stability, and economic recovery since August 2012;
Amendment 70 #
Motion for a resolution Paragraph 3 3. Considers that structural reforms, growth-orientated fiscal policies a
Amendment 71 #
Motion for a resolution Paragraph 3 3. Considers that
Amendment 72 #
Motion for a resolution Paragraph 3 3. Considers that growth-orientated fiscal policies are needed at the European level, in particular counter-cyclical policies to support aggregate demand in the euro area, alongside an appropriate monetary policy, in order to strengthen the European economy;
Amendment 73 #
Motion for a resolution Paragraph 3 3. Considers that responsible growth- orientated fiscal policies are needed at the European level, alongside an appropriate monetary policy conducted independently by the ECB, in order to strengthen the European economy;
Amendment 74 #
Motion for a resolution Paragraph 3 3. Considers that sustainable growth- orientated fiscal policies are needed at the European level, alongside an appropriate monetary policy, in order to strengthen the European economy;
Amendment 75 #
Motion for a resolution Paragraph 3 – subparagraph 1 (new) Reiterates that the European Central Bank is an independent body, and that monetary financing of the European economy is prohibited;
Amendment 76 #
Motion for a resolution Paragraph 3 a (new) 3a. Recalls that ageing societies and other demographic developments put a massive burden on the sustainability of public finances; therefore, urges Member States to take responsibility towards future generations and implement the balanced budget rule in their own national legal order as set out by the Fiscal Compact;
Amendment 77 #
Motion for a resolution Paragraph 3 a (new) 3a. Stresses that the current economic environment provides a favourable window of opportunity for Member States to build fiscal buffers and to step up and carry out the necessary reforms in order to strengthen the resilience of their economies;
Amendment 78 #
Motion for a resolution Paragraph 3 b (new) 3b. Warns against the increasing trend whereby countries are granted extra time and leeway to bring down the budget deficit within the permissible thresholds;
Amendment 79 #
Motion for a resolution Paragraph 4 Amendment 8 #
Motion for a resolution Citation 21 e (new) – considers that the main goal of the economic policies of the Euro area should be achieving full employment as a guarantee of decent living standards, while reducing income divergences among Member States;
Amendment 80 #
Motion for a resolution Paragraph 4 4.
Amendment 81 #
Motion for a resolution Paragraph 4 4.
Amendment 82 #
Motion for a resolution Paragraph 4 4.
Amendment 83 #
Motion for a resolution Paragraph 4 4. Supports flexibility in the implementation of the Stability and Growth Pact
Amendment 84 #
Motion for a resolution Paragraph 4 4.
Amendment 85 #
Motion for a resolution Paragraph 4 4.
Amendment 86 #
Motion for a resolution Paragraph 4 4. Supports flexibility in the implementation of the Stability and Growth Pact as proposed by the Commission in 2015; considers that
Amendment 87 #
Motion for a resolution Paragraph 4 4.
Amendment 88 #
Motion for a resolution Paragraph 4 4. Supports flexibility in the implementation of the Stability and Growth Pact as proposed by the Commission in 2015; considers that
Amendment 89 #
Motion for a resolution Paragraph 4 4.
Amendment 90 #
Motion for a resolution Paragraph 4 4. Supports flexibility in the implementation of the Stability and Growth Pact as proposed by the Commission in 2015; considers that much more flexibility is required to boost investment and growth in the EU; calls, therefore, for a reform of the Stability and Growth Pact and the introduction of an aggregate euro area fiscal stance; reiterates that exemption of the public investment from debt accounting is the most effective way to increase counter-cyclicality and growth- enhancing in fiscal policy;
Amendment 91 #
Motion for a resolution Paragraph 4 a (new) 4a. Stresses that the crisis affecting the EU has resulted from the framework established by the Lisbon Treaty and the preceding treaties, and that the situation cannot be overcome within this framework; recalls the need to provide for the reversal of the treaties regulating integration, with a view to repealing the Lisbon Treaty and, in particular, the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, the 'Six Pack' and the 'Two Pack'; calls for an intergovernmental conference to be convened by the European Council to address the reversibility and repeal of the treaties; stresses the urgent need for Member States to regain the ability to decide on the economic policies that best address their respective needs;
Amendment 92 #
Motion for a resolution Paragraph 4 a (new) 4a. Calls for a reform of the Stability and Growth Pact, allowing Member States to replace gross investments with the depreciation of the investments in their overall balance calculation, as is the case in the accounting of private companies, and which would permit Member States with limited fiscal space to still execute important future-oriented infrastructure projects;
Amendment 93 #
Motion for a resolution Paragraph 4 a (new) 4a. Calls for a revival of the no- bailout clause which is a safeguard for financial stability of Member States; recalls that the SGP has been designed as a self-enforcing contract, employing the risk of state bankruptcy as a disciplinary tool to limit the volume of debt a Member State will issue;
Amendment 94 #
Motion for a resolution Paragraph 4 a (new) 4a. Regrets the change of position of the Commission with regard to the fiscal stance in the euro area as the 2017 communication only calls for a neutral fiscal stance when the 2016 one urged for a positive fiscal stance, which was a welcome approach;
Amendment 95 #
Motion for a resolution Paragraph 4 a (new) Amendment 96 #
Motion for a resolution Paragraph 4 a (new) 4a. Notes the importance of the macroeconomic imbalance procedure (MIP) and its objective of preventing imbalances within Member States with a view to avoiding negative spill-over effects to other Member States;
Amendment 97 #
Motion for a resolution Paragraph 4 b (new) 4b. Calls on the EU institutions to initiate and uphold a process of renegotiation of public debt for the most heavily indebted countries (regarding amounts, terms and interest rates), considerably reducing and bringing back to sustainable levels their annual debt levels and charges, thereby ensuring a level of debt servicing that is compatible with economic and social development;
Amendment 98 #
Motion for a resolution Paragraph 4 b (new) 4b. Reminds that the Excessive Imbalance Procedure (EIP) is an enhanced surveillance mechanism to ensure compliance with the MIP; is of the view that EIP should be consistently applied to countries that significantly and constantly experience imbalances and fail to take adequate actions to correct them, regardless of the type of imbalances;
Amendment 99 #
Motion for a resolution Paragraph 4 b (new) 4b. Considers that prudent fiscal policies play a fundamental role for the stability of the euro area and the Union as a whole; underlines that strong coordination of fiscal policies and compliance with the Union rules in this area are a legal requirement and key to the proper functioning of Economic and Monetary Union (EMU);
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Preparatory phase in ParliamentNew
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2018-03-17Show (5) Changes
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