2019/2110(INI) Economic policies of the euro area 2019
Lead committee dossier:
Progress: Awaiting committee decision
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Lead | ECON |
DE LANGE Esther ( EPP)
|
LALUCQ Aurore ( S&D),
GARICANO Luis ( Renew),
BECK Gunnar ( ID),
JURZYCA Eugen ( ECR),
GUSMÃO José ( GUE/NGL)
|
Lead committee dossier:
Legal Basis:
RoP 54
Legal Basis:
RoP 54Subjects
Events
2019/10/02
EP - Vote in committee, 1st reading/single reading
2019/09/19
EP - Amendments tabled in committee
Documents
2019/09/19
EP - Committee referral announced in Parliament, 1st reading/single reading
2019/08/19
EP - Committee draft report
Documents
2019/07/18
EP - DE LANGE Esther (EPP) appointed as rapporteur in ECON
Documents
- Amendments tabled in committee: PE641.128
- Committee draft report: PE639.994
- Committee draft report: PE639.994
- Amendments tabled in committee: PE641.128
| Amendments | Dossier |
| 270 |
2019/2110(INI)
2019/09/19
ECON
270 amendments...
Amendment 1 #
Motion for a resolution Citation 24 a (new) - having regard to the Interinstitutional Proclamation on the European Pillar of Social Rights on the 17th November 2017 in Gothenburg,
Amendment 10 #
Motion for a resolution Recital B B. whereas unemployment rates continue on a steady downward path, with an average rate of 7.5 % in the euro area and 6.3 % in the EU28 in May 2019, the lowest since the start of the EU monthly unemployment series, and a further decrease is expected to 7.3 % and 6.2 % respectively in 2020; whereas unemployment rates have for years been unacceptably high, at levels twice as high as those of the rest of the industrialized world;
Amendment 100 #
Motion for a resolution Paragraph 7 a (new) 7. Underlines that the fiscal stances at national and euro area level must balance the long-term sustainability of public finances in full compliance with the Stability and Growth Pact, respecting its provisions made for flexibility based exclusively on independent economic judgement, with short-term macroeconomic stabilisation and sustainability, Procyclicamlity, however, should be avoided;
Amendment 101 #
Motion for a resolution Paragraph 7 a (new) 7a. Introducing country-specific medium-term debt targets based on a mutual agreement between Member States could be considered. The debt targets could be determined against the multiannual financial framework of the EU;
Amendment 102 #
Motion for a resolution Paragraph 7 7. Underlines that the fiscal stances at national and euro area level must balance the long-term sustainability of public finances, economic growth and social cohesion in full compliance with the Stability and Growth Pact, respecting its provisions made for flexibility, with short- term macroeconomic stabilisation;
Amendment 103 #
Motion for a resolution Paragraph 7 7. Underlines that the fiscal stances at national and euro area level must balance the long-term sustainability of public finances in
Amendment 104 #
Motion for a resolution Paragraph 7 a (new) 7a. Highlights, the importance of socially-balanced and countercyclical fiscal policies for macro-economic stabilisation and as a tool to prevent excessive swings in the financial cycle, in order to make the economy more resilient to disruptions, flanked by socially and environmentally sustainable structural policies and reforms;
Amendment 105 #
Motion for a resolution Paragraph 7 a (new) 7a. Reminds that debt service costs remain low mainly because of ECB low interest rates policy; recommends to consider the impact of potentially rising interest rates and risks arising from further expansion of the ECB's balance sheet;
Amendment 106 #
Motion for a resolution Paragraph 7 b (new) 7b. Rejects legal changes to the Stability and Growth Pact; takes note that the SGP has been violated continuously by almost all Member States, even Germany;
Amendment 107 #
Motion for a resolution Paragraph 7 c (new) 7c. 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 and an expression of the principle of national budgetary responsibility, employing the risk of state bankruptcy as a disciplinary tool to limit the volume of debt a Member State will issue;
Amendment 108 #
Motion for a resolution Paragraph 7 d (new) 7d. Warns that the longer the current spending-oriented policy with deficits in almost all Member continues, the clearer it will become that the euro area's integration and prosperity is at risk from growing imbalances;
Amendment 109 #
Motion for a resolution Paragraph 7 a (new) 7a. Regrets that some Member States have not made use of unusually low interest rates to structurally reduce their sovereign debt levels;
Amendment 11 #
Motion for a resolution Recital B a (new) Ba. whereas the drop in unemployment rates keeps on being sustained by a surge in low quality jobs based on poor working conditions, including short fixed term contracts, that leave a mass of the European population at risk of poverty;
Amendment 110 #
Motion for a resolution New subtitle before paragraph 8 S
Amendment 111 #
Motion for a resolution Paragraph 8 Amendment 112 #
Motion for a resolution Paragraph 8 8. Underlines that
Amendment 113 #
Motion for a resolution Paragraph 8 8. Underlines that reforms which increase competition in product markets, promote resource efficiency and improve the business environment, as well as quality of institutions, including an effective justice system, and quality and efficiency of tax collection, are essential for achieving greater economic resilience for the euro area and Member States;
Amendment 114 #
Motion for a resolution Paragraph 8 8. Underlines that reforms which increase competition in product markets, promote resource efficiency
Amendment 115 #
Motion for a resolution Paragraph 8 Underlines that reforms which increase competition in product markets, promote resource efficiency and improve the business environment, as well as quality of institutions, including an effective justice system, and quality and efficiency of tax collection, are essential for achieving greater economic resilience for the euro area and Member States;
Amendment 116 #
Motion for a resolution Paragraph 8 8. Underlines that reforms which increase competition in product markets, promote resource efficiency, safeguard the long-term sustainability of care and pension systems, promote a better access to finance for SMEs, spin off and start- ups; improve the business environment, as well as quality of institutions, including an effective justice system, and quality and efficiency of tax collection, are essential for achieving greater economic resilience for the euro area and Member States; emphasises in this context the importance of the single market and the need for its further deepening;
Amendment 117 #
Motion for a resolution Paragraph 8 8. Underlines that socially balanced reforms which increase competition in product markets, promote resource efficiency and improve the business environment, as well as quality of institutions, including an effective justice system, and quality and efficiency of tax collection, are essential for achieving greater economic resilience for the euro area and Member States; emphasises in this context the importance of the single market and the need for its further deepening;
Amendment 118 #
Motion for a resolution Paragraph 8 a (new) 8a. Highlights, however, the persistent structural problem of insufficient economical activities, steaming from a too low level of public and private investments in essential services, social protection and wages, leading to persistent social and regional inequalities;
Amendment 119 #
Motion for a resolution Paragraph 8 a (new) 8a. Underlines that the environmental and social goals and commitments, including the Pillar of Social Rights, must be on equal footing and having the same importance as the EU economic goals, and concretely calls for binding social and environmental targets for Member States and the establishment of EU minimal social standards;
Amendment 12 #
Motion for a resolution Recital C a (new) Ca. whereas annual revenue losses caused by aggressive corporate tax planning in the EU ranges from EUR 50- 70 billion to EUR 160-190 billion depending on the methodology;
Amendment 120 #
Motion for a resolution Paragraph 8 a (new) 8a. Remembers that the convergence of Member States’ economies is provided for in the Treaty of the European Union; underlines the importance of convergence policies to assure a balanced development of European economy, promote its growth and create jobs; stresses the need to reform the European Stability Mechanism and complete the Banking Union to promote convergence;
Amendment 121 #
Motion for a resolution Paragraph 8 b (new) 8b. Reminds, that one of the core policy areas of the European Semester and a prerequisite of sustained economic well-being is financial stability; therefore it is essential to ensure that financial institutions are better regulated and supervised both in the Eurozone and all over the EU, to put an end to the era of "too-big-to-fail" and massive bailouts paid for by taxpayers;
Amendment 122 #
Motion for a resolution Paragraph 8 a (new) 8a. Highlights, however, the persistent structural problem of insufficient economical activities, steaming from a too low level of public and private investments in essential services, social protection and wages, leading to persistent social and regional inequalities.
Amendment 123 #
Motion for a resolution Paragraph 8 a (new) 8a. Reminds, that one of the core policy areas of the European Semester and a prerequisite of sustained economic well-being is financial stability; therefore it is essential to ensure that financial institutions are better regulated and supervised both in the Eurozone and all over the EU, that banks are better capitalised and risks better controlled.
Amendment 124 #
Motion for a resolution Paragraph 8 a (new) 8a. Encourages the development or implementation of instruments to ensure financial and economic stability in an era of asset price inflation, like anti-cyclical buffers for banks;
Amendment 125 #
Motion for a resolution Paragraph 8 b (new) 8b. Emphasizes the importance of the completion of the Banking Union with a European insurance on deposits mechanism to ensure confidence among depositors and investors across the Banking Union;
Amendment 126 #
Motion for a resolution Paragraph 9 9.
Amendment 127 #
Motion for a resolution Paragraph 9 9. Shares the view that structural and institutional features of labour and product markets and well-functioning public administrations are crucial; appropriate governance guidelines at EU level would help encourage the well-functioning of public administration;
Amendment 128 #
Motion for a resolution Paragraph 9 9. Shares the view that structural and institutional features of labour and product markets and well-functioning public administrations are crucial; underlines the importance of removing disincentives to work to integrate more people in the workforce, particularly for low skilled workers, older workers, women, people with disabilities and people with a migrant background;
Amendment 129 #
Motion for a resolution Paragraph 9 9.
Amendment 13 #
Motion for a resolution Recital C b (new) Cb. whereas latest estimates of tax evasion within the EU point to a figure of approximately EUR 825 billion per year;
Amendment 130 #
Motion for a resolution Paragraph 10 10. Supports shifting
Amendment 131 #
Motion for a resolution Paragraph 10 10. Supports shifting the tax burden away from labour and to penalize environmentally detrimental activities, and strengthening education and training systems and investment in skills; stresses the effectiveness of
Amendment 132 #
Motion for a resolution Paragraph 10 10. Supports shifting the tax burden (direct and indirect) away from labour and strengthening
Amendment 133 #
Motion for a resolution Paragraph 10 10. Supports shifting the tax burden away from labour towards profits, capital and wealth and strengthening education and training systems and investment in skills;
Amendment 134 #
Motion for a resolution Paragraph 10 10. Supports shifting the tax burden away from labour and strengthening education and training systems and investment in skills; stresses the effectiveness of flexible labour market policies; especially by supporting lifelong learning and learning of digital skills and skills needed for a green economy, which could be further fostered by the establishment of best practices and cooperation at EU level;
Amendment 135 #
Motion for a resolution Paragraph 10 10. Supports shifting the tax burden away from labour and strengthening education and training systems and investment in skills; stresses the effectiveness of flexible labour market policies and education policies that provide skills relevant for the labour market; points out that vocational education systems have proven particularly effective to combat youth unemployment;
Amendment 136 #
Motion for a resolution Paragraph 10 Supports shifting the tax burden away from labour and strengthening education and training systems and investment in skills; stresses the
Amendment 137 #
Motion for a resolution Paragraph 10 – Supports shifting the tax burden away from labour
Amendment 138 #
Motion for a resolution Paragraph 10 Supports shifting the tax burden away from labour and strengthening effective education and training systems and effective investment in skills; stresses the effectiveness of flexible labour market policies;
Amendment 139 #
Motion for a resolution Paragraph 10 a (new) 10a. Calls on the Member States to set in place proper policies to ensure equal access to education, and to provide investment to ensure equal access to lifelong education and training and to close the gender gap;
Amendment 14 #
Motion for a resolution Recital C c (new) Cc. whereas nominal corporate tax rates have decreased at EU level from an average of 32 % in 2000 to 21,9 % in 201810a, which represents a decrease of 32 %; ____________________ 10aTaxation Trends in the European Union, Table 3: Top statutory corporate income tax rates (including surcharges), 1995-2018, European Commission, 2018.
Amendment 140 #
Motion for a resolution Paragraph 10 a (new) 10a. Reminds that wage levels are unfairly low for substantial groups of European workers, which results in social tension, and has a negative impact on economic activity and growth; calls therefore on the Commission to propose legislation on EU-wide rules for fair minimum wages guaranteeing a dignified quality of life for all workers, as well as a minimum level of social protection;
Amendment 141 #
Motion for a resolution Paragraph 10 b (new) 10b. Is concerned about the extent women are affected by austerity policies, and feminization of poverty; notes that the financial and economic crisis since 2008 hit men harder initially; underlines however, that women were affected more strongly in the long run through cuts in public spending, decreases in generosity in work-life balance policies, failure to close gender and pension pay gap and cutbacks in social security systems;
Amendment 142 #
Motion for a resolution Paragraph 10 c (new) 10c. Reminds that all EU countries would benefit from increased fiscal capacity and notes that additional resources can be found through a willing and effective policy against tax fraud and tax avoidance including support for an EU Financial Transactions Tax;
Amendment 143 #
Motion for a resolution Paragraph 11 11. Calls on Member States to support and implement EU actions to
Amendment 144 #
Motion for a resolution Paragraph 11 11. Calls on Member States to support and implement EU actions to combat Aggressive Tax Planning
Amendment 145 #
Motion for a resolution Paragraph 11 11. Calls on Member States to support and implement EU actions to combat Aggressive Tax Planning. Reiterates the call of the Parliament and the Commission stating that EU tax policy should not be dependent on a unanimity rule that can be misused for purely national interests, at the expense of the Single Market and other Member States’ needs. A move to qualified majority voting in taxation would enable Member States to control more effectively the part of their sovereignty that they have pooled together in the interests of the Union as a whole and for greater collective and individual results. Invites therefore the Commission to put this statement in practice and make swiftly use of the specific passerelle clause in the Treaties which offers an obvious route to move away from unanimity in the tax area;
Amendment 146 #
Motion for a resolution Paragraph 11 11. Calls on Member States to support and implement EU actions to combat Aggressive Tax Planning; supports the Commission’s initiatives to achieve increased transparency, a reformed VAT system and recognises the work that has been done on the common consolidated corporate tax base; welcomes efforts on the international level to fight tax fraud, tax evasion and tax avoidance; notes that improving effectiveness of national tax systems can increase government revenues significantly;
Amendment 147 #
Motion for a resolution Paragraph 11 11. Calls on Member States to
Amendment 148 #
Motion for a resolution Paragraph 11 11. Calls on Member States to support and implement EU actions to
Amendment 149 #
Motion for a resolution Paragraph 11 11. Calls on Member States to support and implement EU actions to combat Aggressive Tax Planning and decisive measures against corporate tax dumping, evasion and fraud at the European level;
Amendment 15 #
Motion for a resolution Recital C d (new) Cd. whereas some assessments of effective tax rates in the EU diverge from 2,2 % to 30 %10b; ____________________ 10bPublic hearing of 24 January 2019 on ‘The Evaluation of the Tax Gap’.
Amendment 150 #
Motion for a resolution Paragraph 11 11. Calls on Member States to support and implement EU actions to combat
Amendment 151 #
Motion for a resolution Paragraph 11 11. Calls on all Member States to support and implement EU actions to combat Aggressive Tax Planning;
Amendment 152 #
Motion for a resolution Paragraph 11 11. Calls on Member States to
Amendment 153 #
Motion for a resolution Paragraph 11 a (new) 11a. Underlines that the Union needs to adopt and implement as a matter of urgency the CCCTB, a digital tax and public country-by-country reporting for multi-nationals; points out in this context, the Commission should make progress in implementing its Communication to gradually migrate from unanimity to QMV by either calling on Council to revoke unanimity, or by using article 116 TFEU or by Treaty change;
Amendment 154 #
Motion for a resolution Paragraph 11 a (new) 11a. Emphasizes the need to, building onto the EU’s CCCTB package, fundamentally review international taxation practices through the OECD’s Programme of Work to Develop a Consensus Solution to the Tax Challenges Arising from the Digitalisation of the Economy, specifically Pillar I thereof, and encourages the negotiating parties to make an end to profit shifting by moving non-tangible assets to low-tax jurisdictions;
Amendment 155 #
Motion for a resolution Paragraph 11 a (new) 11a. Reminds Member States and the Council of the need to provide ESAs with appropriate resources in light of the new and reinforced tasks entrusted to them;
Amendment 156 #
Motion for a resolution Paragraph 11 a (new) 11a. Welcomes the on-going international negotiations on tax and digitalisation, and in particular, welcomes the Programme of Work to Develop a Consensus Solution to the Tax Challenges Arising from the Digitalisation of the Economy (Programme of Work) as proposed by the Inclusive Framework and the OECD and endorsed by G20 Finance Ministers last June;
Amendment 157 #
Motion for a resolution Paragraph 11 a (new) 11a. 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, as proposed by the President- elect of the European Commission, combining a self-insurance mechanism for national unemployment insurance systems with a European re-insurance as a solidarity mechanism for extreme shocks;
Amendment 158 #
Motion for a resolution Paragraph 11 a (new) 11a. Recalls that there is a € 1 trillion stock of non-performing loans in the Euro area, which makes it difficult for banks to channel liquidity to households and businesses; supports Member States’ reforms which help facilitate corporate restructuring, and could potentially help to improve capital allocation and push out lower-productivity firms;
Amendment 159 #
Motion for a resolution Paragraph 11 a (new) 11a. Notes the importance and employment potential of the Member States' contribution towards the achievement of the SDGs; believes that a committed and robust EU development policy is vital not only for global economic growth but also for a growing euro area economy;
Amendment 16 #
Ce. whereas despite a small decline in poverty, 113 million remain at risk, far short of the Europe 2020 target, with large imbalances between member states with more than a 1/3 of population in BG, RO and EL and growing in-work poverty (9.6 %);
Amendment 160 #
Motion for a resolution Paragraph 11 b (new) 11b. 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 euro area as a whole; calls for a significant reduction of NPLs; calls also for a significant reduction of leverage within banks´ balance sheets; insists that taxpayers will not be made liable to bail out banks during the next crisis;
Amendment 161 #
Motion for a resolution Paragraph 11 b (new) 11b. Encourages the Commission and the Council to look for ways to gradually phase out subsidies on fossil fuels, and to introduce a kerosene tax in the context of a reviewed Energy Taxation Directive;
Amendment 162 #
Motion for a resolution Paragraph 11 b (new) 11b. Remains concerned about the implications of tax competition within the EU and with third countries on the sustainability of tax systems and tax collection, as well as consequences on fiscal capacity and fair competition in the EU Internal Market;
Amendment 163 #
Motion for a resolution Paragraph 11 c (new) 11c. Supports the French and German position to have a second pillar in the current Programme of Work aiming at granting taxing rights that would strengthen the ability of jurisdictions to tax profits where the other jurisdiction with taxing rights applies a low effective rate of tax to those profits, by 2020; understand that this would leads to a de facto minimum effective level of taxation worldwide which would mitigate the negative effect of tax competition;
Amendment 164 #
Motion for a resolution Paragraph 11 c (new) 11c. 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;
Amendment 165 #
Motion for a resolution Paragraph 11 c (new) 11c. Points out that a sustainable European economy requires a sustainable European finance sector with transparency as to the economic, social and governance impact of investments and due diligence requirements in place to mitigate or prevent certain products’ long-term sustainability risks;
Amendment 166 #
Motion for a resolution Paragraph 11 d (new) 11d. Invites the Commission and the Council to look for new resources that would both allow to speed up the needed ecological transition and create fiscal capacity to finance needed social and sustainable investment [including investments in healthcare, education]; welcomes the announcement of the Commission President to propose a Carbon Border Tax and to review the Energy Taxation Directive;
Amendment 167 #
Motion for a resolution Paragraph 11 d (new) 11d. Encourages the Commission to look at ways to increase Corporate Social Responsibility, including through the proper implementation of the Non- financial Reporting Directive and through changes in corporate governance enabling companies to serve a wide range of stakeholders;
Amendment 168 #
Motion for a resolution Paragraph 11 d (new) 11d. Recalls that the euro area is a club, which Member States are able to leave without leaving the Union; calls on the Commission to come up with a proposal that creates a supporting legal framework; reminds the Commission that having proper procedures in place is preferable to a chaotic exit that may happen any time as soon as there is another financial turmoil;
Amendment 169 #
Motion for a resolution Paragraph 11 e (new) 11e. Highlights the fact that, in the recent period, real wage growth has lagged behind productivity growth, while improvements have occurred in the labour market; stresses, against this background, the room for wage increases in certain sectors and areas, to ensure good standards of living, taking into account the need to tackle poverty, including growing in-work, inequalities and boost growth;
Amendment 17 #
Motion for a resolution Recital D D. whereas the general government deficit is expected to rise from 0.5 % to 0.9 % in the euro area and from 0.6 % to 1.0 % in the EU28 in 2019, and to remain at that level in 2020; whereas the debt-to- GDP ratio in 2019 stands at 85.8 % in the euro area and 80.2 % in the EU28 and is forecast to decrease to 84.3 % and 78.8 % respectively in 2020; whereas such debt levels may be hard to sustain if and when interest rates return to normal levels;
Amendment 170 #
Motion for a resolution Paragraph 11 e (new) 11e. 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, and reminds the ECB that this is in breach 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 171 #
Motion for a resolution Paragraph 11 f (new) 11f. 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; and commitment to progress on an EU framework directive to guarantee adequate minimum income;
Amendment 172 #
Motion for a resolution Paragraph 11 f (new) 11f. Rejects employing the ESM as backstop for the SRF; reminds Member States 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 173 #
Motion for a resolution Paragraph 11 g (new) 11g. 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 174 #
Motion for a resolution Paragraph 11 h (new) 11h. Points out that there are ongoing discussions regarding the appropriate legal basis for the establishment of EDIS as well as the proposed European Deposit Insurance Fund; notes that Article 114 of the Treaty on the Functioning of the European Union is not a suitable legal basis for adopting EDIS; reminds that the profitability of banks is dependent on the Member States' economic, tax, and fiscal policy, which are national responsibilities; considers the importance of the profitability of banks for the safety of deposits; rejects EDIS as it would lead to moral hazard;
Amendment 175 #
Motion for a resolution Paragraph 11 i (new) 11i. 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 176 #
Motion for a resolution Paragraph 12 12. Agrees that the economic upswing needs to be supported by
Amendment 177 #
Motion for a resolution Paragraph 12 12. Agrees that the economic upswing needs to be supported by public and private investment, particularly in
Amendment 178 #
Motion for a resolution Paragraph 12 Agrees that the economic upswing needs to be supported by public and private investment, particularly in
Amendment 179 #
Motion for a resolution Paragraph 12 12. Agrees that the economic upswing needs to be supported by public and private investment, particularly in innovation, and notes that there is still an investment gap in the euro area; welcomes the fact that in some Member States investments already exceed the pre-crisis level, and regrets that
Amendment 18 #
Motion for a resolution Recital D D. whereas the general government
Amendment 180 #
Motion for a resolution Paragraph 12 12. Agrees that the economic upswing needs to be supported by public and private investment, particularly in innovation, and notes that there is still an investment gap in the euro area; welcomes the fact that in some Member States investments already exceed the pre-crisis level, and regrets that in others public and private investment is still
Amendment 181 #
Motion for a resolution Paragraph 12 12. Agrees that the economic upswing needs to be supported by public and private investment, particularly in innovation, and notes that there is still an investment gap in
Amendment 182 #
Motion for a resolution Paragraph 12 Agrees that the economic upswing needs to be supported by public and private investment, particularly in research innovation, a
Amendment 183 #
Motion for a resolution Paragraph 12 12. Agrees that the economic upswing needs to be supported by public and private investment, particularly in innovation and for ecological transformation, and notes that there is still an investment gap in
Amendment 184 #
Motion for a resolution Paragraph 12 12. Agrees that the economic upswing needs to be supported by public and private investment, particularly in the green economy and innovation, and notes that there is still a
Amendment 185 #
Motion for a resolution Paragraph 12 12. Agrees that the economic upswing needs to be supported by public and private investment, particularly in innovation and green investments, and notes that there is still an investment gap in the euro area; welcomes the fact that in some Member States investments already exceed the pre- crisis level, and regrets that
Amendment 186 #
Motion for a resolution Paragraph 12 12. Agrees that the economic upswing needs to be supported by public and private investment, particularly in innovation, and notes that there is still an investment gap in the euro area; welcomes the fact that in some Member States investments already exceed the pre-crisis level, and regrets that in others investment is still lagging behind or is not picking up at the necessary speed; underlines the need for dynamic growth in investment in green transition;
Amendment 187 #
Motion for a resolution Paragraph 12 a (new) 12a. Asks the Commission to introduce in the context of the revision of the fiscal rules an investment depreciation scheme accounting for sustainability geared public investments, which would allow a qualified treatment for certain public investments so as to spread the costs over the life-cycle of related public investments;
Amendment 188 #
Motion for a resolution Paragraph 12 a (new) 12a. Emphasises, in the context of the decline of public investment resulting from fiscal adjustment processes, the improvement of the functioning of the Stability and Growth Pact; Therefore calls on the Commission to strengthen the flexibility element in the Stability and Growth Pact to exclude public investment (namely social and ecological transition investment), national contributions to the Multiannual Financial Framework, and EU Funds co-financing from the calculation of national public deficit;
Amendment 189 #
Motion for a resolution Paragraph 12 a (new) 12a. Stresses that principle of European added value should represent the cornerstone of all EU funded investments; points out that EU funding should be accompanied by measurable objectives and outputs including a quantifiable and comparable evaluation mechanism that will allow to compare and rank the efficiency of individual EU programmes; underlines the importance of accountability and transparency for bodies that receive EU funding;
Amendment 19 #
Motion for a resolution Recital D D. whereas the general government deficit is expected to rise from 0.5 % to 0.9 % in the euro area and from 0.6 % to 1.0 % in the EU28 in 2019, and to remain at that level in 2020; whereas the debt-to- GDP ratio in 2019 stands at 85.8 % in the euro area and 80.2 % in the EU28 and is forecast to decrease to 84.3 % and 78.8 % respectively in 2020; whereas some Member States record high current account surpluses and European macro- economic imbalances are still large;
Amendment 190 #
Motion for a resolution Paragraph 12 a (new) 12a. Emphasizes, that a boost in public investment accompanied by higher wages is a prerequisite for an inclusive sustainable and ecological transition while reducing unemployment;
Amendment 191 #
Motion for a resolution Paragraph 12 a (new) 12a. Underlines the importance to develop a balanced macroeconomic policy in order to reduce social and economic disparities within the European Union; to implement the Paris agreement and to promote an inclusive society;
Amendment 192 #
Motion for a resolution Paragraph 12 a (new) 12a. Highlights the urgent need for a fully-fledged capital markets union, as better integrated financial markets could provide for private risk-sharing and risk- reduction mechanisms as well as easier access to finance for the real economy thereby stimulating private investments;
Amendment 193 #
Motion for a resolution Paragraph 12 b (new) 12b. Emphasises, in the context of the decline of public investment resulting from fiscal adjustment processes, the need to further improve the functioning of the Stability and Growth Pact; Therefore calls on the Commission to revert the SGP to a golden rule under which the deficit would exclude investment expenditure for ecological transition and social investment- enhancing purposes, allowing it to become an important instrument of structural policies to Member States;
Amendment 194 #
Motion for a resolution Paragraph 13 Amendment 195 #
Motion for a resolution Paragraph 13 13. Calls on Member States
Amendment 196 #
Motion for a resolution Paragraph 13 13. Calls on Member States
Amendment 197 #
Motion for a resolution Paragraph 13 13. Calls on Member States, while pursuing policies in full respect of the Stability and Growth Pact, to support public and private investment, improve the quality and composition of public finances, and rebuild fiscal buffers, especially in euro area countries with high levels of public debt; prevent the creation of incentives that could lead to distortionary practice; and ensure greener and key expenditure investments are promoted to enable the transition to a environmentally sustainable / low carbon economy;
Amendment 198 #
Motion for a resolution Paragraph 13 13. Calls on Member States, while pursuing policies in full respect of the Stability and Growth Pact, to support
Amendment 199 #
Motion for a resolution Paragraph 13 a (new) 13a. Stresses the need, in order to avoid depressing public investment and to increase the potential for growth, to thoroughly revise the flexibility clause and the current rules of the Stability and Growth Pact in order to introduce a genuine golden rule for investment which excludes productive public investment and national contributions to European funds from the calculation of budget deficits;
Amendment 2 #
Motion for a resolution Citation 24 b (new) - having regards to the report of the European Parliament on financial crimes, tax evasion and adopted on 26 March 2019 (2018/2121(INI)),
Amendment 20 #
Motion for a resolution Recital D a (new) Da. whereas growth has to an important degree relied upon unconventional and, in the long term, unsustainable monetary policy; whereas this monetary policy has failed to create a momentum for productivity-enhancing reforms;
Amendment 200 #
Motion for a resolution Paragraph 13 a (new) 13a. Stresses that, more than relying its recovery on cyclical factors, the way to a prosper European economy is by encouraging public and private investment, innovation, skills development and promoting domestic demand;
Amendment 201 #
Motion for a resolution Paragraph 13 a (new) 13a. Recognises that public investments are limited as they represent scarce resources mostly funded by the taxpayers; underlines the need to prioritise the public investments according to their efficiency in order to support economic growth;
Amendment 202 #
Motion for a resolution Paragraph 13 a (new) 13a. Stresses that, more than relying its recovery on cyclical factors, the only way to a prosper European economy is by encouraging public investment and promoting domestic demand;
Amendment 203 #
Motion for a resolution Paragraph 13 b (new) 13b. Emphasises the fiscal benefits of investment efficiency measurements and investment quality comparison; recommends the Commission to systematically monitor the value-for- money of EU funded projects and to publicise the evaluation criteria to maximise the benefits of public scrutiny;
Amendment 204 #
Motion for a resolution Paragraph 13 b (new) 13b. Warns that the longer the current savings-oriented policy – primarily focused on spending cuts – continues without an effective investment plan to generate revenue through growth, social cohesion and solidarity, the more it will become clear that Europe's economic convergence and prosperity is at risk of growing social inequalities;
Amendment 205 #
Motion for a resolution Paragraph 13 c (new) 13c. Underlines the need for social investment to guarantee social rights and standards, ensuring access to essential services: particularly affordable health and housing, adequate minimum income and social protection;
Amendment 206 #
Motion for a resolution Paragraph 14 Amendment 207 #
Motion for a resolution Paragraph 14 14. Underlines that investment in tangibles and intangibles in order to increase productivity, skills and innovation, along with the growth- enhancing s
Amendment 208 #
Motion for a resolution Paragraph 14 14. Underlines that investment in
Amendment 209 #
Motion for a resolution Paragraph 14 14. Underlines that investment in tangibles and intangibles in order to increase productivity, skills and innovation, along with the growth- enhancing socially balanced structural reforms, will increase long-term growth potential;
Amendment 21 #
Motion for a resolution Recital D b (new) Db. whereas the stability of financial institutions in the Eurozone is still a matter of grave concern; whereas there is slight progress on reducing non- performing loans; whereas this progress is clearly insufficient;
Amendment 210 #
Motion for a resolution Paragraph 14 14. Underlines that investment in tangibles and intangibles in order to increase productivity, skills and innovation, along with the growth-enhancing socially- balanced structural reforms, will increase long-term growth potential;
Amendment 211 #
Motion for a resolution Paragraph 14 a (new) 14a. Stresses that the 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;
Amendment 212 #
Motion for a resolution Paragraph 14 a (new) 14a. Notes that housing policy features prominently in the 2019 European Semester, with the Commission stating that: “developments in the housing market can affect financial stability and thereby require action in some Member States”; underlines that through programmes such as the European Fund for Strategic Investments (EFSI) and through European Structural and Investment Funds (ESIFs), the EU can support efforts by Member States to increase housing supply and deliver affordable and adequate housing; furthermore, requests the Commission to investigate the potential of new legal and financial instruments that could be used to address difficulties in the housing market across the EU;
Amendment 213 #
Motion for a resolution Paragraph 14 a (new) 14a. Warns that boosting investment should not be seen as an alternative to productivity-enhancing reforms;
Amendment 214 #
Motion for a resolution Paragraph 14 b (new) 14b. Calls on the Commission to provide an assessment of the gap between the need for green investments and the concrete realization of these; including an annual analysis of green investment needs; calls for annual monitoring of the implementation of green investments in each Member Stat;.
Amendment 215 #
Motion for a resolution Paragraph 14 b (new) 14b. Recalls that high levels of taxation in Europe are a hindrance to investments and jobs;
Amendment 217 #
Motion for a resolution Paragraph 14 d (new) 14d. Recalls that the fight against aggressive tax planning strategies is essential to provide fair treatment of taxpayers, safeguard public finances, and preserve social cohesion and fight inequalities;
Amendment 218 #
Motion for a resolution Paragraph 14 e (new) 14e. Insists on the need to implement an ambitious pCBCR and CCCTB;
Amendment 219 #
Motion for a resolution Paragraph 14 f (new) 14f. Recalls the need to implement the recommendations of the special committee TAXE 3; stresses that the complexity of tax systems can give rise to legal loopholes facilitating tax fraud schemes such as cum-ex;
Amendment 22 #
Motion for a resolution Recital E a (new) Ea. whereas, according to Eurostat and Word Inequality Database, inequality of income distribution in the euro area has increased since the beginning of the financial crisis; whereas tax competition between European states, continually increased, which has undermined the progressivity of taxes increasing the unfair tax burden and undermining public finances;
Amendment 220 #
Motion for a resolution Paragraph 14 g (new) 14g. Encourages a stronger coordination and harmonization of taxation with the objective to reduce the differences among Member States over a ten-year period, thus making any possible company relocation unattractive;
Amendment 221 #
Motion for a resolution Paragraph 14 h (new) 14h. Asks for a minimum corporate tax rate of 20% in Europe.
Amendment 222 #
Motion for a resolution Paragraph 15 Amendment 223 #
Motion for a resolution Paragraph 15 15.
Amendment 224 #
Motion for a resolution Paragraph 15 1
Amendment 225 #
Motion for a resolution Paragraph 15 a (new) 15a. 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 socially and environmentally sustainable reforms capable of 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 226 #
Motion for a resolution Paragraph 15 a (new) 15a. Suggests that every Member State should bear all the consequences of the economic policy it has chosen; calls therefore for the introduction of national insolvency procedures for Member States of the euro area;
Amendment 227 #
Motion for a resolution Paragraph 15 a (new) 15a. Regrets that 60 % of CSRs in 2018 have not been implemented or only with limited progress; underlined that the CSR implementation record in 2018 is worse than in 2017;
Amendment 228 #
Motion for a resolution Paragraph 16 Amendment 229 #
Motion for a resolution Paragraph 16 16.
Amendment 23 #
Motion for a resolution Recital E b (new) Eb. whereas the incomes of the richest 1% jumped twice as fast as the average and captured a share of growth similar to those captured by the bottom 50%; In 2017, the richest 20% in the EU earned over 5 x the poorest 20%;
Amendment 230 #
Motion for a resolution Paragraph 16 16. Notes that more than two thirds of the CSRs issued until 2018 have been implemented with at least some progress;
Amendment 231 #
Motion for a resolution Paragraph 16 16. Notes that more than two thirds of the CSRs issued until 2018 have been implemented with at least some progress; regrets, however, that there is evidence of backtracking on elements of major reforms adopted in the past
Amendment 232 #
Motion for a resolution Paragraph 16 16. Notes that according to the Commission more than two thirds of the CSRs issued until 2018 have been implemented with at least some progress; regrets, however, that there is evidence of backtracking on elements of major reforms adopted in the past, and is concerned about Member States’ commitment to the CSRs, given that progress on the current recommendations is worse than in previous years; requests the Commission to make its methodology of assessing the multi- annual progress on the implementation of the CSRs public;
Amendment 234 #
Motion for a resolution Paragraph 16 16. Notes that more than two thirds of the CSRs issued until 2018 have been implemented with at least some progress; regrets, however, that there is evidence of backtracking on elements of major reforms adopted in the past, and is concerned about Member States’ commitment to the CSRs, given that progress on the current recommendations is worse than in previous years; points out that a more streamlined and more focussed European Semester could increase national ownership and uptake of reforms by Member States;
Amendment 235 #
Motion for a resolution Paragraph 16 16. Notes that more than two thirds of the CSRs issued until 2018 have been implemented with at least some progress; regrets, however, that there is evidence of backtracking on elements of
Amendment 236 #
Motion for a resolution Paragraph 16 a (new) 16a. Notes with concern that excessive current-account surpluses in some Member States are a source of deep macroeconomic imbalances which negatively affect the stability and sustainability of the whole Union, hampering the process of rebalancing between euro area economies; deplores the fact that the Commission has never applied the corrective instruments available under the Macroeconomic Imbalance Procedure (MIP) and therefore urges the Commission to take effective measures against the accumulation of excessive surpluses;
Amendment 237 #
Motion for a resolution Paragraph 16 a (new) 16a. Insists on the need for the CSR to take due account of the 20 key principles and rights to support fair and well- functioning labour markets outlined in the European Pillar of Social Rights, which should serve as a compass for a renewed process of upward convergence towards better working and living conditions in the European Union;
Amendment 238 #
Motion for a resolution Paragraph 16 a (new) 16a. Points that the CSR have put in the last years too much focus on supply- side and socially harmful reforms;
Amendment 239 #
Motion for a resolution Paragraph 16 a (new) 16a. Shares the Commission's concerns over developments in the housing market in some Member States; stresses that rising interest rates and housing prices and rent costs are affecting households' private debt and families’ budgets; underlines that this debt plays a role in the stability of the euro area; calls on the Commission to take initiatives in this area in line with recommendation 19 of the Social Pillar;
Amendment 24 #
Motion for a resolution Recital F F. whereas, in the light of the risks of trade tensions between the US and
Amendment 240 #
Motion for a resolution Paragraph 16 a (new) 16a. Reminds that commitment to CSRs by Member-States is strictly voluntary and that elected national parliaments and governments are entirely free to pursue their own policies, on the basis of their own democratic choices;
Amendment 241 #
Motion for a resolution Paragraph 16 b (new) 16b. Recalls the need of stronger surveillance of the employment and social situation in Europe and appropriate and constant follow up at every step of the European Semester to boost quality jobs creation and accordingly achieving smart, sustainable;
Amendment 242 #
Motion for a resolution Paragraph 16 c (new) 16c. Shares the Commission's concerns over developments in the housing market in some Member States; stresses that rising interest rates and housing prices are affecting households' private debt; underlines that this debt plays a role in the stability of the euro area; calls on the Commission to take initiatives in this area in line with recommendation 19 of the Social Pillar;
Amendment 243 #
Motion for a resolution Paragraph 16 b (new) 16b. Recalls the need of stronger surveillance of the employment and social situation in Europe and appropriate and constant follow up at every step of the European Semester to boost quality jobs creation and accordingly achieving smart, sustainable;
Amendment 244 #
Motion for a resolution Paragraph 17 17.
Amendment 245 #
Motion for a resolution Paragraph 17 17. Welcomes the particular progress that has been achieved on recommendations concerning financial services;
Amendment 246 #
Motion for a resolution Paragraph 17 17. Welcomes the particular progress that has been achieved on recommendations concerning financial services, legislation governing labour relations and employment protection; however Member States should expand their focus beyond domestic borders and committing to be more decisive and quick in the implementation and application of the agreed principles and rules;
Amendment 247 #
Motion for a resolution Paragraph 17 17.
Amendment 248 #
Motion for a resolution Paragraph 17 a (new) 17a. Points out corruption remains an acute issue in several Member States with negative impacts on the potential for economic growth and the business environment; calls therefore for further ambition in the CSRs to address the corruption problems; regrets the lack of commitment of the Commission with the EU Anti-corruption report which was last published in 2014;
Amendment 249 #
Motion for a resolution Paragraph 17 b (new) 17b. Regrets the Commission fails to address in the CSRs the consistency of the Member States energy policies with the Paris climate agreement;
Amendment 25 #
Motion for a resolution Recital F F. whereas, in the light of the risks of trade tensions
Amendment 250 #
Motion for a resolution Paragraph 17 a (new) 17a. Welcomes that taxation has regularly become part of the proposed country-specific recommendations for many Member States; welcomes in particular the attention given to spillover effects of taxpayers' aggressive tax planning strategies between Member States; calls on the Commission, the Council and concerned Member States to make proposals to counter the mentioned phenomenon;
Amendment 251 #
Motion for a resolution Paragraph 17 b (new) 17b. Supports recommendation that invite Member States to ensure a greater stability and fairness of their fiscal capacity and tax collection, such as limiting the scope and number of tax expenditures and broadening the tax base; invites the Commission and the Council to better look at the impact of progressivity of tax systems in that regard;
Amendment 252 #
Motion for a resolution Paragraph 17 c (new) 17c. Asks to include trade unions and local and regional authorities in the negotiation process at both national and European level; urges the launch of the long-awaited negotiation of an interinstitutional agreement (IIA) on the Semester;
Amendment 253 #
Motion for a resolution Paragraph 18 Amendment 254 #
Motion for a resolution Paragraph 18 Amendment 255 #
Motion for a resolution Paragraph 18 Amendment 256 #
Motion for a resolution Paragraph 18 18. Reminds Member States of the importance of committing to and delivering on the CSRs; stresses that CSRs should be legally binding as they are formally adopted by elected governments;
Amendment 257 #
Motion for a resolution Paragraph 18 18. Reminds Member States of the importance of committing to and delivering on the CSRs;
Amendment 258 #
Motion for a resolution Paragraph 18 18. Reminds Member States of the importance of committing to and delivering on the CSRs; reminds Commission to continue the efforts for a higher implementation and ownership;
Amendment 259 #
Motion for a resolution Paragraph 18 18. Reminds Member States regardless of their membership in the euro area of the importance of committing to and delivering on the CSRs;
Amendment 26 #
Motion for a resolution Recital F F. whereas, in the light of the risks of trade tensions between the US and the China alongside the persistent uncertainty related to the withdrawal of the UK from the EU, the global outlook risks bending towards the downside; not to mention the risks of recession and crisis in Germany and the situation in Italy;
Amendment 260 #
Motion for a resolution Paragraph 18 18. Reminds Member States of the importance of committing to and delivering on the CSRs and recommendations of the European Court of Auditors;
Amendment 261 #
Motion for a resolution Paragraph 18 a (new) 18a. Recalls the positive practice of transparency in several Member States in the form of mandatory disclosure of contracts concluded by the public sector which supports the efficiency of public finances and promotes economic growth;
Amendment 262 #
Motion for a resolution Paragraph 18 a (new) 18a. Believes that increased efforts are required in many Member States to promote gender equality at all levels of the workforce; calls for further targeted promotion of science, technology, engineering and mathematics (STEM) subjects towards women and girls, in order to address existing education stereotypes and combat long-term gender unemployment, pay and pensions gaps; furthermore, calls for particular emphasis to be placed on increasing women’s participation in the digital jobs market; notes the Commission study of 2018 “Women in the Digital Age” which found that if more women were to enter the digital jobs market, it could create an annual EUR 16 billion GDP boost for the European economy;
Amendment 263 #
Motion for a resolution Paragraph 18 a (new) 18a. Notes that the Commission, the President of the Council and the President of the Eurogroup should be invited to appear in the competent Committee of the European Parliament to provide information and exchange views on an ad hoc and regular basis if the current political situation warrants it;
Amendment 264 #
Motion for a resolution Paragraph 18 b (new) 18b. Notes the social priorities in the European semester; demands the necessary respect for the principles of subsidiarity and proportionality; stresses that Member States must continue to have sufficient flexibility in implementing an appropriate social policy;
Amendment 266 #
Motion for a resolution Paragraph 18 c (new) 18c. Calls to enhance ESM accountability towards the European Parliament, in line with previous recommendations of the European Parliament;
Amendment 267 #
Motion for a resolution Paragraph 18 c (new) 18c. Calls to enhance ESM accountability towards the European Parliament, in line with previous recommendations of the European Parliament;
Amendment 268 #
Motion for a resolution Paragraph 18 d (new) 18d. Invites the Commission to keep both legislators (European Parliament and the Council) equally well informed on all aspects relating to the application of the EU economic governance framework, including on preparatory stages and in view of any proposals to reform or enhance;
Amendment 269 #
Motion for a resolution Paragraph 18 e (new) 18e. Invites, in the interim, and in order to increase transparency and democratic control of the EU economic governance framework, the Commission, the President of the Eurogroup and the President of the Council (ECOFIN) to appear in front of the competent Committee of the European Parliament, for Economic Dialogues, during the various stages of the application and implementation of the EU economic governance framework;
Amendment 27 #
Motion for a resolution Recital F F. whereas, in the light of the risks of trade tensions between the US and the China alongside the persistent uncertainty related to the withdrawal of the UK from the EU, the risks of recession in Germany and the global outlook risks bending towards the downside;
Amendment 270 #
Motion for a resolution Paragraph 18 f (new) 18f. Underlines the importance of the Eurogroup in the de facto coordination and surveillance of the economic policies of the Euro area Member States, welcomes the commitments of the Eurogroup President to increase the transparency of the Eurogroup and therefore invites the President of the Eurogroup to appear at least twice for a regular dialogue in the competent Committee of the Parliament and if needed on an ad hoc basis;
Amendment 271 #
Motion for a resolution Paragraph 18 g (new) 18g. Recognises the importance of the involvement of the Eurogroup President in interparliamentary meetings on matters related to EU economic governance and the banking union;
Amendment 272 #
18h. Mandates the Committee on Economic and Monetary Affairs to take action to improve the accountability towards the European Parliament, as the experience gathered so far in applying the European Semester has shown that the current accountability set up could be enhanced in order to improve its legitimacy and effectiveness;
Amendment 28 #
Motion for a resolution Recital F a (new) Fa. whereas tax optimization, tax evasion and tax avoidance for the benefit of some large companies and individuals have resulted in billions of euros in lost revenue for public finance management in several Member States at the expense of SMEs and other taxpayers; contributing to increasing inequality and imbalances;
Amendment 29 #
Motion for a resolution Recital F a (new) Fa. whereas in 2018 only 2.8 % of country specific recommendations have been fully implemented by Member States, 36.6 % have made at least some progress but 60.6 % have not been implemented or only with limited progress;
Amendment 3 #
Motion for a resolution Citation 24 c (new) - having regards to the Paris Agreements on climate changes in 2015 and the UN 2030 climate and energy framework,
Amendment 30 #
Motion for a resolution Recital F a (new) Fa. whereas Council, Commission and Eurogroup accountability to the European Parliament throughout all the stages of the European Semester process is warranted for democratic legitimacy and transparency;
Amendment 31 #
Motion for a resolution Recital F a (new) Fa. whereas according to Eurostat inequality of income distribution in the euro area has increased since the beginning of the financial crisis;
Amendment 32 #
Motion for a resolution Recital F b (new) Fb. 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 Commission’s 2030 climate target, the UN SDGs and the Paris Agreement;
Amendment 33 #
Motion for a resolution Recital F c (new) Fc. whereas the Commission and the European Stability Mechanism (ESM) have set out their cooperation framework, entailing ESM involvement in financial assistance to Member States and sharing of information and expertise;
Amendment 34 #
Fc. 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 35 #
Motion for a resolution Recital F d (new) Fd. whereas global CO2 emissions have increased by 55% in 20 years; whereas human activities have altered 75% of the terrestrial environment and 66% of the marine environment; whereas 1 million plant and animal species are threatened with extinction; considering that the value of agricultural production has increased four-fold since 1970; whereas almost half of coral reef cover has disappeared since the 1870s;
Amendment 36 #
Motion for a resolution Recital F e (new) Fe. whereas gaps and labour market segregation remain high throughout the European Union, contributing to gender differences in pay, pensions, decision- making and wealth;
Amendment 37 #
Motion for a resolution Recital F a (new) Fa. whereas in his speech to mark the twentieth anniversary of the euro at the January part-session, the President of the European Commission forthrightly criticised what the EU itself had done during the crisis, admitting that a reckless austerity policy had been pursued and also regretting the lack of solidarity displayed by the European institutions towards countries in difficulties, particularly Greece;
Amendment 38 #
Motion for a resolution Recital F a (new) Fa. whereas in some Member States there are indications of a slide into recession;
Amendment 39 #
Motion for a resolution Recital F b (new) Fb. whereas the necessary environmental transformation of the economy and society in view of climate change requires substantial public and private investments;
Amendment 40 #
Motion for a resolution Recital F b (new) Fb. whereas some countries still have persistent excessive current account surpluses that significantly exceed the alert threshold of 6% of GDP;
Amendment 41 #
Motion for a resolution Recital F b (new) Amendment 42 #
Motion for a resolution Paragraph 1 1. Notes that while the European economy is growing for the seventh consecutive year, taking into account the detrimental effects of stock market and other asset bubbles in the European market as a result of the ECB’s ultraloose monetary policy, mounting economic risks and uncertainties pose a significant challenge;
Amendment 43 #
Motion for a resolution Paragraph 1 1. Notes that while the European economy is growing for the seventh consecutive year, mounting economic risks and uncertainties within and outside of the European Union, pose a significant challenge;
Amendment 44 #
Motion for a resolution Paragraph 2 2. Is therefore concerned about the low growth potentials compared to other regions in the world in recent decades and believes that a stronger policy focus needs to be provided towards strengthening the innovative element of European industry as well as the purchasing power of consumers in the internal market;
Amendment 45 #
Motion for a resolution Paragraph 2 a (new) 2a. Reminds that monetary policy has been the main, if not the only, driver of economic growth, a dynamic that creates side effects and vulnerabilities;
Amendment 46 #
Motion for a resolution Paragraph 3 Amendment 47 #
Motion for a resolution Paragraph 3 3. Agrees that
Amendment 48 #
Motion for a resolution Paragraph 3 3.
Amendment 49 #
Motion for a resolution Paragraph 3 3. Agrees that effective structural reforms, accompanied by well-targeted investments and responsible fiscal policies, continue to provide a successful compass for preparing the EU for its future and present challenges such as strengthening competitiveness while transitioning to a low carbon economy; the digitalization of our societies, the development of research & innovation; the growth of the labour market based on high quality jobs skills and continuing professional training;
Amendment 5 #
Motion for a resolution Citation 24 d (new) - having regards to UN Agenda 2030 and the SDGs,
Amendment 50 #
Motion for a resolution Paragraph 3 3. Agrees that effective structural reforms, accompanied by
Amendment 51 #
Motion for a resolution Paragraph 3 3. Agrees that effective structural reforms, accompanied by well-targeted investments
Amendment 52 #
Motion for a resolution Paragraph 3 3. Agrees that effective growth- enhancing structural reforms, accompanied by well-targeted investments and responsible fiscal policies, continue to provide a successful compass for preparing the EU for its future and present challenges;
Amendment 53 #
Motion for a resolution Paragraph 3 3. Agrees that
Amendment 54 #
Motion for a resolution Paragraph 3 a (new) 3a. Welcomes the European Commission’s Communication of 4 September 2019 on “Finalising preparations for the withdrawal of the United Kingdom from the European Union on 1 November 2019” and recognises that EU contingency planning for Brexit will be subject to ongoing revision; notes that Brexit could have a serious and unquantifiable impact on economic growth in the euro area and future trading activity with the United Kingdom; recognises that Member States must proactively put in place effective contingency measures to mitigate the consequences of Brexit;
Amendment 55 #
Motion for a resolution Paragraph 3 a (new) 3a. Underlines that structural reforms are still needed to strengthen the European Economic and Monetary Union, notably those concerning the creation of a Central Stabilisation Function, the Reform Support Programme and a European Deposit Insurance Scheme;
Amendment 56 #
Motion for a resolution Paragraph 3 a (new) 3a. Reaffirms the overriding need to support and implement the Paris Agreement on Climate Change, including through fiscal policies;
Amendment 57 #
Motion for a resolution Paragraph 3 a (new) 3a. Recalls the importance of efficient regulation of banking and financial sectors to prevent a new crisis especially in the matter of shadow banking;
Amendment 58 #
Motion for a resolution Paragraph 3 b (new) 3b. Highlights, that in order to achieve the implementation of the Commission’s 2030 climate target, it is of importance to transform the European Semester into a tool of boosting social inclusive and sustainable investments and introduce a multi-annual sustainability pact, based on the UN SDGs and underpinned by the European Pillar Social Rights;
Amendment 59 #
Motion for a resolution Paragraph 3 c (new) 3c. Calls on the Commission, to enlarge the reference indicators of the European Semester by including social and environmental indicators to be able to take into account the sustainability impact of reforms and fiscal consolidation;
Amendment 6 #
Motion for a resolution Recital A A. whereas according to the
Amendment 60 #
Motion for a resolution Paragraph 4 Amendment 61 #
Motion for a resolution Paragraph 4 4. Recognises that the average level of debt-to-GDP is projected to decline;
Amendment 62 #
Motion for a resolution Paragraph 4 4. Recognises that the average level of debt-to-GDP is projected to decline; also notes
Amendment 63 #
Motion for a resolution Paragraph 4 4. Recognises that the average level of debt-to-GDP is projected to decline; notes, however, that the average level still remains significantly above the level required by the Stability and Growth Pact; points out the possibility of rising debt service costs in the future once monetary accommodation is reduced, especially in the euro area; reminds that Member States continue to significantly exceed their pre-crisis public debt levels; underlines, therefore, the importance of bringing down overall debt levels and rebuilding fiscal buffers, in line with EU fiscal rules;
Amendment 64 #
Motion for a resolution Paragraph 4 4. Recognises that the average level of debt-to-GDP is projected to decline; notes, however, that the average level still remains significantly above the level required by the Stability and Growth Pact; points out the possibility of rising debt service costs; underlines, therefore, the importance of bringing down overall debt levels, in line with EU fiscal rules; points out that the lack of fiscal space poses a significant constraint on Member States ability to counter an economic downturn;
Amendment 65 #
Motion for a resolution Paragraph 4 4. Recognises that the average level of debt-to-GDP is projected to decline; notes, however, that the average level still remains significantly above the level required by the Stability and Growth Pact;
Amendment 66 #
Motion for a resolution Paragraph 4 4. Recognises that the average level of debt-to-GDP is projected to decline; notes, however, that the average level still remains significantly above the level required by the Stability and Growth Pact; points out the possibility of rising debt service costs; underlines, therefore, the importance of bringing down overall debt levels, in line with EU fiscal rules; regrets the ultraloose monetary policy of the ECB, which has made it artificially cheap for already highly indebted economic agents within the euro area to take on more debt.
Amendment 67 #
Motion for a resolution Paragraph 4 4. Recognises that the average level of debt-to-GDP is projected to decline; notes, however, that the average level still remains significantly above the level required by the Stability and Growth Pact, not being in line with the goals of the European semester; points out the possibility of rising debt service costs; underlines, therefore, the importance of bringing down overall debt levels, in line with EU fiscal rules;;
Amendment 68 #
Motion for a resolution Paragraph 4 4. Recognises that the average level of debt-to-GDP is projected to decline; notes, however, that the average level still remains significantly above the level required by the Stability and Growth Pact; points out the possibility of rising debt service costs; underlines, therefore, the importance of bringing down overall debt levels
Amendment 69 #
Motion for a resolution Paragraph 4 4. Recognises that the average level of debt-to-GDP is projected to decline; notes, however, that the average level still remains significantly above the level required by the Stability and Growth Pact; points out the possibility of rising debt service costs in the future once monetary accommodation is reduced, especially in the euro area; reminds that Member States continue to significantly exceed their pre-crisis public debt levels; underlines, therefore, the importance of bringing down overall debt levels and rebuilding fiscal buffers, in line with EU fiscal rules;
Amendment 7 #
Motion for a resolution Recital A A. whereas according to the Commission’s forecasts,
Amendment 70 #
Motion for a resolution Paragraph 4 4. Recognises that the average level of debt
Amendment 71 #
Motion for a resolution Paragraph 4 4. Recognises that the average level of debt-to-GDP is projected to decline; notes, however, that the average level still remains significantly above the level required by the Stability and Growth Pact; points out the possibility of rising debt service costs; underlines, therefore, the importance of bringing down overall debt levels, in
Amendment 72 #
Motion for a resolution Paragraph 4 a (new) 4a Supports flexibility in the implementation of the Stability and Growth Pact as proposed by the Commission in 2015; considers that much more flexibility should be set up to boost investments and ecological transition in the EU; calls, therefore, to reform the Stability and Growth Pact and introduce a Euro area fiscal instrument;
Amendment 73 #
Motion for a resolution Paragraph 4 a (new) 4a Stresses the need for a framework for debt restructuring in countries with clear problems of over-indebtedness;
Amendment 74 #
Motion for a resolution Paragraph 5 Amendment 75 #
Motion for a resolution Paragraph 5 5. Notes
Amendment 76 #
Motion for a resolution Paragraph 5 Notes, accordingly, with
Amendment 77 #
Motion for a resolution Paragraph 5 5. Notes, accordingly, with great concern that the average deficit levels appear to be increasing again and that in some Member States deficits above 3 % are projected; underlines that a significant part of the expected expansion originates in countries with high government debt-to- GDP ratios; calls on the ECB to end its ultraloose monetary policy as soon as possible, which has made it artificially cheap for already highly indebted economic agents within the euro area to take on more debt;
Amendment 78 #
Motion for a resolution Paragraph 5 Notes, accordingly, with great concern that the average deficit levels appear to be increasing again and that in some Member States deficits above 3 % are projected;
Amendment 79 #
Motion for a resolution Paragraph 5 Notes, accordingly,
Amendment 8 #
Motion for a resolution Recital A A. whereas according to the Commission’s forecasts, the GDP growth rate for 2019 stands at 1.2 % of GDP per capita in the euro area and 1.4 % in the EU28, and is expected to rise to 1.4 % and 1.6 % respectively in 202010; nevertheless those rates remain at significantly lower levels compared to the OECD forecast for annual growth in the US and Asia; ____________________ 10 Commission’sEuropean Economic Forecast – Summer 2019 (Interim) of 10 July 2019
Amendment 80 #
Motion for a resolution Paragraph 5 5. Notes, accordingly,
Amendment 81 #
Motion for a resolution Paragraph 5 5. Notes, accordingly, with great concern that the average deficit levels appear to be increasing again and that in some Member States deficits above 3 % are projected; underlines that a significant part of the expected deficit expansion originates in countries with high government debt-to-
Amendment 82 #
Motion for a resolution Paragraph 5 a (new) 5a. An effective fiscal policy contributes to the lowering of interest rates and of the annual cost of the public debt servicing;
Amendment 83 #
Motion for a resolution Paragraph 5 a (new) 5a. Points out that the current flexibility in the implementation of the Stability and Growth Pact as proposed by the Commission in 2015 has not provided for an appropriate counter-cyclical framework and it does not allow sufficient fiscal space for the countries at risk of downturn; recognises and welcomes thereby that there is a growing consensus including within the Commission on the need to review the Stability and Growth Pact in order to simplify it, improve its implementation and avoid pro-cyclical effects;
Amendment 84 #
Motion for a resolution Paragraph 5 a (new) 5a. Stresses the need to make full use of the existing flexibility mechanisms under the SGP, in order to promote investment in energy transition and efficiency, public transportation systems and other areas deemed critical to address climate change and also investment in public services and social policies; calls on the Commission to exclude investments on the fight against climate change and poverty from the deficit criterion for compliance with the SGP;
Amendment 85 #
Motion for a resolution Paragraph 5 b (new) 5b. Asks the Commission, in the context of the forthcoming revision of the 6-pack to take stock of such revision for proposing a reinforcement of the macroeconomic imbalances procedure in order to tackle more symmetrically, effectively and proactively the accumulation of excessive macroeconomic imbalances;
Amendment 86 #
Motion for a resolution Paragraph 5 c (new) 5c. Recalls the urgent need to complete and reinforce the EMU architecture by, inter alia, ensuring the swift creation of a meaningful budgetary instrument including a macroeconomic stabilisation function for the euro area, integrating the ESM into the community acquis and providing for an effective ESM backstop for the Single Resolution Mechanism;
Amendment 87 #
Motion for a resolution Paragraph 6 Amendment 88 #
Motion for a resolution Paragraph 6 6.
Amendment 89 #
Motion for a resolution Paragraph 6 6.
Amendment 9 #
Motion for a resolution Recital A a (new) Aa. whereas the vast discrepancies within the predicted growth will continue to fuel regional and social stratification within the EU;
Amendment 90 #
Motion for a resolution Paragraph 6 6.
Amendment 91 #
Motion for a resolution Paragraph 6 6.
Amendment 92 #
Motion for a resolution Paragraph 6 6.
Amendment 93 #
Motion for a resolution Paragraph 6 a (new) 6a. Stresses the need for a change of course by the European Union marking the permanent abandonment of austerity policies and permitting the adoption of sustainable and effective economic policies to tackle unemployment, poverty and rising socio-economic inequalities and to boost the public investment needed to support the real economy, quality employment and innovation;
Amendment 94 #
Motion for a resolution Paragraph 6 a (new) 6a. Recalls that growth-friendly structural reforms do not require fiscal space but rather legislative and administrative efforts aimed at strengthening market forces and private sector initiatives;
Amendment 95 #
Motion for a resolution Paragraph 6 b (new) 6b. Asks the Commission to not only focus on public debt levels, but also take into account the implications for sustainable economic growth of an excessive rise in household and corporate debt;
Amendment 96 #
Motion for a resolution Paragraph 7 7. Underlines that the fiscal stances at national and euro area level must balance the long-term sustainability of public finances
Amendment 98 #
Motion for a resolution Paragraph 7 7. Underlines that the fiscal stances at national and euro area level must balance the long-term sustainability of public finances
Amendment 99 #
Motion for a resolution Paragraph 7 7. Underlines that the fiscal stances at national and euro area level must balance the long-term sustainability of public finances in full compliance with the Stability and Growth Pact
source: 641.128
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History
(these mark the time of scraping, not the official date of the change)
2019-10-10Show (1) Changes | Timetravel
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2019-10-09Show (2) Changes | Timetravel
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2019-10-04Show (1) Changes | Timetravel
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2019-10-03Show (1) Changes | Timetravel
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2019-09-20Show (3) Changes | Timetravel
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Preparatory phase in ParliamentNew
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2019-09-19Show (3) Changes | Timetravel
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2019-09-16T00:00:00New
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2019-09-17Show (1) Changes
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