56 Amendments of Pedro SILVA PEREIRA related to 2017/2114(INI)
Amendment 9 #
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
Amendment 10 #
Motion for a resolution
Citation 19 a (new)
Citation 19 a (new)
- having regard to the COP 21 agreement adopted at the Paris Climate Conference on 12 December 2015,
Amendment 18 #
Motion for a resolution
Recital A
Recital A
A. whereas the GDP growth rate for the euro area was 1.8 % in 2016 and, according to the European Commission's projections, is set to remain steady at 1.7 % in 2017 and at 1.9 % in the EU overall, surpassing pre- crisis levels while still being insufficient and uneven across Member States;
Amendment 21 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas euro area deficit is projected to decrease to stand at 1,4% in 2017 and 1,3% in 2018;
Amendment 22 #
Motion for a resolution
Recital A b (new)
Recital A b (new)
A b. whereas euro area government debt is projected to decrease to stand at 90,3% in 2017 and 89,0% in 2018;
Amendment 29 #
Motion for a resolution
Recital B
Recital B
B. whereas the euro area and EU28 unemployment rates were 9.3 % and 7.8 % respectively in April 2017, their lowest rates since March 2009 and December 2008; whereas significant differences in unemployment rates remain across the EU ranging between 3.2 % and 23.2 %; whereas youth and long-term unemployment is still very high;
Amendment 32 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas global economic growth is still fragile and the euro area economy is faced with increased uncertainty and important internal and external political challenges;
Amendment 37 #
Motion for a resolution
Recital C
Recital C
C. whereas the EU’'s excessively low productivity levels and global competitiveness calls for structural reforms, continued fiscpublic and private investment, socially balanced structural reffortms and investmenta modestly expansionary fiscal stance 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 48 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas the euro area is still facing a significant 'investment gap';
Amendment 51 #
Motion for a resolution
Recital C b (new)
Recital C b (new)
C b. whereas aggregate demand in the euro area is sluggish and inflation remains below target;
Amendment 54 #
Motion for a resolution
Recital C c (new)
Recital C c (new)
C c. whereas private consumption remains the key driver of growth;
Amendment 56 #
Motion for a resolution
Recital C d (new)
Recital C d (new)
C d. whereas some Member States continue to accumulate high current account surpluses, which goes counter and makes it more difficult to achieve the goal of economic growth;
Amendment 64 #
1. Welcomes the gooimproved performance of the European economy, supported by moderate GDP growth and decreasing, yet still high, unemployment rates; notes that the modest recovery remains fragile and thatunevenly distributed across society and regions, while the development of GDP per capita is close to stagnation; regrets that economic developments remain burdened by the legacies of the crisis, including persistent inequalities and disparities across countries;
Amendment 72 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Underlines that the still-too-high unemployment rates, particularly in some member States and especially for youth unemployment, show that the capacity to create quality employment in several Member States is still limited, and emphasises that further action is needed, in consultation with the social partners, in order to step up investment in skills, make labour markets more inclusive and reduce social exclusion and growing inequalities in income and wealth;
Amendment 79 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that Europe harbours untapped economic potential as growth and employment are advancing unevenly; underlines that this is the result of the heterogeneous performance of the Member States’' economies; emphasises that the implementation of structural reforms caused, to a great extent, by the architectural and institutional deficiencies of the euro area and procyclical policies; recalls that economic and social convergence among Member States should remain a top priority of the European Semester and one of the main drivers in designing the economic policies of the euro area; emphasises that higher public and private investment as well as the implementation of socially balanced structural reforms both at the European level and in the Member States could facilitate at least 1 % higher growth levels;
Amendment 89 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Takes the view that a greater degree of upward convergence would be needed to sustain the economic recovery in the EU and the euro area in the longer term; considers there is an urgent need to tackle the significant imbalances that persist within the euro area and the EU more generally, namely the fact that in many cases convergence among and within the Member States is stalled; notes that high current account surpluses imply the possibility of boosting domestic demand; urges Member States with fiscal space to expand their domestic demand for their own and general benefit;
Amendment 99 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Considers that for this to materialise the structural conditions for growth need to be improved; takes the view that the potential growth of all Member States should increase in the long term to at least 3 %; for this to happen, establishing clear benchmarks on how to improve the potential growth of Member States could provide the necessary guidance for policy actions; points out that such a regular benchmarking exercise would have to take due account of individual structural strengths and weaknesses ofcalls on all Member States to proceed with high quality investments in order to modernise their economies and establish a sustainable business environment for long-term growth, in line with the Europe 2020 strategy; takes the view that the potential growth of all Member States should increase in the long term to at least 3 %; for this to happen, a stronger focus must be put on economic convergence, delivering the necessary tools to level the economic performance of all euro area Member States;
Amendment 111 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Emphasises that this would complement ongoing efforts on improving the quality and management of national budgets by addressing the triggers for growth in line with Union fiscal rules and with full respect of its existing flexibility;
Amendment 115 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Agrees with the assessment from the Commission that the correction of macroeconomic imbalances continues, reflecting progress in implementing relevant reforms, but it remains largely asymmetric across the EU also in the sense that it is countries with external deficits or debt that have made further progress while, at the same time, large current account surpluses persist in some other countries;
Amendment 121 #
Motion for a resolution
Subheading 1
Subheading 1
Amendment 127 #
6. 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)economic policies as well as improved national ownership and sound implementation of the country-specific recommendations (CSR), also with a view to promoting upward convergence; highlights that reforms need to take due account of the specific socio-economic situation and challenges in each Member State;
Amendment 134 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Agrees with the Commission that addressing the legacy of the crisis, from long-term unemployment to high levels of private and public debt, remains an urgent priority, which calls for the implementation of sustainable and inclusive reforms designed to foster social justice, mitigate income inequalities and support convergence towards better outcomes;
Amendment 138 #
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6 b. Urges all Member States to focus on reforms that facilitate investment in social infrastructure, education, early childhood education and care and lifelong learning, as well as on reforms promoting research and innovation capacity;
Amendment 139 #
Motion for a resolution
Paragraph 6 c (new)
Paragraph 6 c (new)
6 c. Recalls that sustainable structural reforms should be supported by EU instruments, particularly by the European Structural and Investment Funds (ESIFs) and the European Fund for Strategic Investments (EFSI);
Amendment 145 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Is of the opinion that legacies from the crisis such as a high level of unemployment, inequality and indebtedness in all sectors of the economy still act as a drag on growth and pose potential risks; is concerned in this regard that the persistently high level of non- performing loans (NPLs) in some Member States, which are a legacy of the crisis and a result of the protracted period of sluggish growth since then, could have significant spill-over effects from one Member State to another, presenting a risk to financial stability in Europe; notes that capital buffers in the financial sector have been strengthened, but challenges arise from low profitability, coupled with high levels of NPLs; supports the proposal, backed by several European institutions and supervisory authorities, to create a European solution or blueprint for dealing with the current stock of NPLs in many banks' balance sheets; is convinced an EU-level strategy to deal with NPLs could promote a more comprehensive approach and concerted action at both national and European level;
Amendment 153 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Invites all relevant European institutions and bodies to step up their work on the completion of the Banking Union, including the setting-up of a common European Deposit Insurance Scheme together with a sound and robust backstop, and on the creation of a full- fledged Capital Markets Union;stresses that new capital and liquidity requirements, albeit necessary to enhance the resilience of the banking sector, should not undermine banks' ability to lend to the real economy;
Amendment 164 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Takes the view that reforms to improve the business climate are needed to boost productivity and employment in the euro area; believes additional efforts are required to boost access of SMEs to finance, which is a crucial factor for businesses to innovate and expand; underlines in this context the importance of both demand- and supply-side reforms, also taking into account distributional impacts;
Amendment 177 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. 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 employmentNotes that labour market conditions are improving across the board, although persistently high unemployment and inequality remain sources of social distress and weigh on economic performance in some Member states; recalls that significant labour market reforms have been adopted since 2010, notably in some of the countries hardest-hit by the crisis; agrees there is still scope for socially balanced and inclusive changes in labour market legislation, with the aim of increasing employment, fighting precariousness and the segmentation of the labour market, fighting income inequality, increasing female labour market participation, closing gender pay gaps, improving the work-life balance of men and women, promoting the inclusion of disadvantaged groups, preventing discrimination and ensuring sustainable growth;
Amendment 190 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Stresses the importance of growth- friendly wage developments in line with productivity; that provide a decent standard of living and take account of productivity gains; agrees with the Commission that in some countries that are at or close to full employment, real wage increases could accelerate with related positive effects on aggregate consumption;
Amendment 204 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. StressNotes that the lack of competitiveness and investment axation should not hinder investments and job creation; calls for reforms in taxation with a view to improving tax collection, preventing tax avoidance, tax evasion and aggressive tax planning, as well as tackling 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, investhigh tax burden on labour in Europe while ensuring the sustainability of social protection systems; recalls that experience shows how low tax progressivity, combined with poor tax collection and a week social safety net, is damaging to society and economic growth; highlights the importance of using progressive tax rates to attain the redistributive effects of tax reforms; believes that tax and benefit systems combined, through the progressiveness of tax systems, good tax collection and the provision of adequate social benefits, can contribute to steering employments and labourreducing income inequalities and poverty;
Amendment 211 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Considers that inequality and poverty need to be addressed when designing policy reforms and monitoring their implementation;agrees with the Commission that tackling income inequality and poverty requires a comprehensive set of preventive and mitigating policies, including equal access to education and health care, improved labour market opportunities and earnings prospects, affordable quality services and well-designed tax and benefit systems;
Amendment 230 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Agrees that the economic upswing needs to be supported by public and private investment and notes that there is still an significant investment gap in the euro area; recognises, however, that in some Member States investments already exceed the pre-crisis levelunderlines that further efforts are needed to increase the stocks of capital equipment, intangible capital and infrastructures so as to compensate for the 'investment gap' accumulated since the outbreak of the crisis; recognises, however, that in some Member States investments already exceed the pre-crisis level, while in others investment is still lagging behind or not picking up at the necessary speed; believes this 'investment gap' needs to be filled in using both public and private levers; agrees with the Commission that Member States, in particular those with fiscal space, should sustain the upward trend in public investment;
Amendment 235 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Calls on euro area Member States and the Commission to speed up and maximize the use of European Structural and Investment Funds (ESIF) in order to take advantage of all internal growth drivers, targeting public investment to projects with significant macroeconomic impact that can boost innovation, productivity, competitiveness, as well as social inclusion, with a view to promoting upward convergence between Member States;
Amendment 240 #
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12 b. Underlines that public investments in human capital and infrastructure are of the utmost importance;considers that the economic crisis has highlighted the strong need to facilitate public and private investment in areas such as education, innovation and research and development;stresses the crucial role of public spending on education and life- long learning;believes the rate of public investments in education, infrastructure and research and innovation should grow, particularly in those Member States where there is more room to increase public expenditure;
Amendment 258 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Takes the view that a timely agreement in the ongoing negotiations on the revised European Fund for Strategic Investments (EFSI) could help to improve the effectiveness of this instrument and to address shortcomings experienced in its implementation so far; stresses that geographical and sectorial coverage must by significantly improved in order to strengthen territorial and social cohesion and promote real convergence, as well as to achieve a more impactful macroeconomic effect;
Amendment 266 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Agrees with the Commission that in countries with excess savings and low investment, additional investments are needed to ensure future economic success;
Amendment 267 #
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14 b. Highlights that public and private investment is crucial to allow for the transition towards a low-carbon and circular economy;recalls the commitments of the European Union, particularly in the Paris Agreement, to finance the deployment of clean technologies, the scaling-up of renewable energies and energy efficiency, and the overall reduction of greenhouse gas emissions;
Amendment 268 #
Motion for a resolution
Paragraph 14 c (new)
Paragraph 14 c (new)
14 c. Signals that some country specific recommendations (CSR) address obstacles to investment which the local and regional authorities can help remove;
Amendment 269 #
Motion for a resolution
Subheading 3
Subheading 3
Fiscal responsibilitypolicies
Amendment 281 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. CWelcomes the fact that public finances are expected to continue improving in both the euro area and the EU as a whole; considers that prudent fiscal policies play a fundamental role for the stability of the euro area and the Union as a whole, although challenges have receded significantly since the peak of the crisis and do not constitute a major source of risk for the euro area as a whole in the short term; 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); notes that fiscal rules should be duly implemented in an intelligent manner and with full respect of its existing flexibility clauses, inter alia to support greater investment and structural reforms, as well as to deal with security threats, refugee inflows and natural disasters;
Amendment 287 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the fact that deficits in the euro area are projected to decline; is concerned, however, that this process is slowing down and agrees that government debt remains too high in some Member Statesrecalls that the general government deficit in the euro area, which was above 6% a few years ago, is expected to be 1.4% this year; commends the tremendous efforts enacted by several Member States that have since managed to exit the Excessive Deficit Procedure; is concerned, however, that private and public debt remains too high in some Member States; notes that the levels of government debt have stabilised and are expected to decrease slowly to go just below 90% next year; emphasis that, in most cases, the large increase of debt in the recent past was the result of bank recapitalisation and low growth in nominal GDP, not of fiscal profligacy;
Amendment 301 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Agrees with the Commission that, when taking policy measures to achieve the recommended budgetary adjustments under the preventive arm of the Stability and Growth Pact, Member States should give serious consideration to the need to keep supporting the economic recovery and the potential impacts on employment;
Amendment 302 #
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Incentivizes all Member States to step up their efforts towards achieving a more growth-friendly composition of fiscal policies;supports rational and country-specific efforts towards improving the quality, efficiency and growth-friendly character of public expenditure, especially by shifting unproductive expenses towards growth enhancing investments, but without jeopardizing the essential provision of public and social services;
Amendment 304 #
Motion for a resolution
Paragraph 17
Paragraph 17
Amendment 314 #
Motion for a resolution
Paragraph 18
Paragraph 18
Amendment 325 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Believes the EU budget could help relieve the strain on national budgets by collecting own resources instead of relying extensively on national contributions;stresses that greater integration within the euro area is indispensable and that the creation of a budgetary capacity to absorb economic shocks, mitigate asymmetries and foster convergence is a key element in the completion of the EMU;
Amendment 327 #
Motion for a resolution
Subheading 3 a (new)
Subheading 3 a (new)
Euro area fiscal stance
Amendment 331 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Points out that the current aggregate fiscal stance for the euro is broadly neutral and presents an appropriate balance of debt sustainability requirementarea and the EU remained broadly neutral in 2016 and is set to remain so in 2017, which falls short of the goal set by the Commission of a positive or moderately expansionary fiscal stance for the euro area in 2017; believes this needs to be corrected, especially in those Member States with suppmorte for investmentiscal space;
Amendment 341 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Emphasises, however, that the aggregate view ignoresshould also take into account the heterogeneous situation across Member States and the need to differentiate the fiscal efforts required by each Member Stateapproach required by each Member State; stresses, in this regard, that Member States with a larger fiscal room of manoeuvre should adopt more expansionary policies; recalls that countries with deficits have been doing their part, which can be seen from the fact that since the crisis there are each time fewer Member States under the corrective arm of the Excessive Deficit Procure, but countries with surpluses must also do their part, scaling up spending and increasing demand, both for their own good and for the sake of a more balanced euro area;
Amendment 347 #
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20 a. Stresses that, within the existing rules of the Stability and Growth Pact, euro area Member States that have fiscal scope are therefore recommended to use it to support domestic demand, notably investment in infrastructure, research and innovation;
Amendment 350 #
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20 b. Deplores the fact that, contrary to other unified currency areas around the world, the EU's current fiscal framework contains no rules or instruments to directly manage the aggregate fiscal stance of the euro area;
Amendment 355 #
Motion for a resolution
Paragraph 20 c (new)
Paragraph 20 c (new)
20 c. Notes that around two thirds of the country-specific recommendations issued until 2016 have been implemented with at least 'some progress';
Amendment 369 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Takes note ofWelcomes the Commission’'s recommendation to close the Excessive Deficit Procedures for several Member States; welcomes past and ongoing fiscal and reform efforts, yet insists that these efforts will need to continue to ensure the durability of the correction of the excessive deficit;
Amendment 376 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Notes that 12 Member States are experiencing macroeconomic imbalances of varying nature and severity, while excessive imbalances exist in six Member States; takes note of the Commission's conclusion that there are currently no analytical grounds for stepping up the macroeconomic imbalance procedure for any Member State;
Amendment 395 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Considers it of great importance therefore that all Member States take the necessary policy action to address imbalances, in particular high levels of indebtedness, and commit to as well as persistent current account surpluses, and commit to socially balanced and inclusive structural reforms ensuring the economic sustainability of each individual Member State, thereby ensuring the overall competitiveness and resilience of the European economy;
Amendment 405 #
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25 a. Highlights the importance of national parliaments debating country reports and country-specific recommendations, as well as national reform programmes and stability programmes;