13 Amendments of Fabio Massimo CASTALDO related to 2018/2119(INI)
Amendment 15 #
Motion for a resolution
Recital A
Recital A
Amendment 54 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. 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 64 #
Motion for a resolution
Recital E a (new)
Recital E a (new)
Ea. whereas some countries still have persistent excessive current account surpluses that significantly exceed the alert threshold of 6% of GDP;
Amendment 119 #
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 131 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Welcomes the Commission’s efforts to encourageDeplores, on the one hand, the pressure brought to bear by the Commission to compel Member States with current account deficits or high external debt to contain the growth of unit labour costs and improve their competitiveness, and to encourage by means of wage devaluation, and, on the other hand, the failure to take concrete and effective action to compel Member States with large current account surpluses to promote demand by increasing wage growth in line with productivity growth and to foster productivity growth by promoting investment;
Amendment 134 #
Motion for a resolution
Paragraph 8
Paragraph 8
Amendment 142 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Deplores the ‘double standards’ approach adopted by the Commission towards Member States in applying the procedures of the Stability and Growth Pact, depending on the political hues of the respective governments; notes, in this regard, the Commission’s expressed readiness to accept the possibility that France may breach the deficit ceiling of 3% of GDP, as well as the failure to take appropriate action against Germany and the Netherlands, which have been in breach of current-account surplus rules for years;
Amendment 146 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Urges Member States to builduse their fiscal buffers for future generationsto boost public investment and support aggregate demand; calls, for improvements to the enforcement of the Stability and Growth Pact (SGP), with a focus on debt reductionurthermore, on the Member States to launch a comprehensive review of the current EU fiscal framework, with particular focus on measures to increase the potential for growth and employment;
Amendment 224 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Recalls the importance of a resilient banking sector that safeguards financial stability and savers; welcomes calls for the step-by- step completion of the banking union, with a credible European deposit insurance scheme, and a package to reduce non- performing loannotes the agreement that has been reached concerning a package to reduce non- performing loans; regrets that no significant progress has been made on the monitoring and reduction of exposure to illiquid securities of levels 2 and 3, including derivatives; is concerned that the problem of ‘too-big-to-fail’ banks and systemic risks has not been adequately addressed, and therefore stresses the need to re-launch the proposal for structural reform of large investment banks based on a clear separation of financial trading activities from credit and deposit business;
Amendment 233 #
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 250 #
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21a. 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; stresses the need to equip the euro area with internal adjustment mechanisms that provide for fiscal transfers from surplus countries, so as to ensure that surpluses are used to support investment and the economy in the most vulnerable parts of the euro area;
Amendment 267 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. 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 282 #
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. 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;