31 Amendments of Fabio DE MASI related to 2014/2249(INI)
Amendment 70 #
Motion for a resolution
Recital J
Recital J
J. whereas the existing economic governance system is not yet strong enough to tackle all potential future criseshas proved itself ineffective to tackle the major challenges that are affecting Union citizens, such as increased inequalities, poverty and shocks as it should, nial exclusion, high-rate unemployment and work is it yet sufficiently good at generating higher competitiveness, structural convergence among its membersnsecurity while not being able, at the same time, to generate new economic growth, sustainable growth development and social cohesprotection; whereas, therefore, progress towards the completion of the EMU should be sustained, as well as efforts by linking it to the deepening of the social dimension and to the principles of the EU Charter of fundamental rights, in order to render its institutional structure more legitimate and democratically accountable;
Amendment 80 #
Motion for a resolution
Recital K
Recital K
K. whereas the Fiscal Compact should be incorporated into the EU legal framework on the basis of an assessment of experience with its implementation; replaced by a macroeconomic mechanism for reducing current account imbalances with a special focus on surplus countries, which should expand domestic demand to avoid the high social and economic costs of internal devaluation for deficit countries and should possibly be incorporated into the EU legal framework;
Amendment 93 #
Motion for a resolution
Recital M
Recital M
M. whereas the Union needs a new legal act on economic policy, including the adoption of Convergence Guidelines, as well as some crucial structural reforms in the areas of competitiveness, growth and social cohesionbut mostly a legal shift on its economic policy based on the full application of Article 3 TEU and the principles provided for, in particular, in articles 9 to 12 TFEU;
Amendment 115 #
Motion for a resolution
Recital P
Recital P
P. whereas the Union should be endowed with increased investment capacity by ensuring better use of the existing structural funds and by fully implementing the existing six-pack and two-pack legal frameworkand by a golden rule for public investment which exempts public investment from debt accounting as investment creates assets and future income streams;
Amendment 127 #
Motion for a resolution
Recital Q
Recital Q
Q. whereas part of the EU budget should be used to establish a fiscal capacity within the eurozone in order to assist Member States in the implementation of agreed structural reforms based on certain conditions; whereas this additional fiscal capacity should be placed outside the ceilings of the MFF and should be financed by genuine own resourcesincreasing their public investment;
Amendment 132 #
Motion for a resolution
Recital R
Recital R
R. whereas the growth potential of the Single Market should be further exploited in the areas of services, the Digital Single Market, the Energy Union, and the Banking Union and, whereas the Capital Markets Union should be rejected; whereas decentralised and bank-based finance should be strengthened by cleaning banks' balance sheets from non-performing loans; whereas austerity, which dampens investment and credit demand, should be ended;
Amendment 169 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes that the European Union and its Member States are facing unprecedented challenges, such as the refugee crisis, the foreign policy challenges in the immediate neighbourhood and the fight against terrorism, as well as globalisation, climate change, the consequences of the financial and debteconomic crisis, the lack of competitiveness and the social consequences in several Member States, and the need to reinforce the EU internal market, which have so far been inadequately addressedthreats of disintegration and divergence, social exclusion, long term unemployment, increasing euroscepticism and the social consequences in several Member States, which have so far been inadequately addressed; noting that all these challenges need differentiated answers, and cannot form a unique package, lumping together, for example, the very different questions of refugees and of terrorism;
Amendment 207 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Is of the opinion that intergovernmental solutions should not exist, not even in areas where not all the Member States fulfil the conditions for participation, and that the Fiscal Compact and the European Stability Mechanism, as intended by th should be Treaties should therefore be incorporated into Union law and no new institutions should be introduplaced by a macroeconomic mechanism for reducing current account imbalanceds;
Amendment 316 #
Motion for a resolution
Paragraph 21
Paragraph 21
Amendment 351 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Suggests, on the basis of Article 352 TFEU, the creation of an EU Fiscal and Treasury Administration, with a role similar to that of the Congressional Budget Office in the United States, in order to support the European Finance Minister;
Amendment 424 #
Motion for a resolution
Paragraph 32
Paragraph 32
32. Calls for further institutional reforms in order to provide the EMU with an effective and democratic economic government with improved capacities and integrated within Believes that the democratic legitimacy of the EMU should be strengthened by a significant and strongly enhanced involvement of the European Parliament in the economic policy- making process; calls therefore for further institutional framework of the Union, whereby the Commission acts as the executive and Parliament and Council as co-legislators, as outlined belowreforms in order to provide the EMU with a democratically accountable governance structure;
Amendment 437 #
Motion for a resolution
Paragraph 33
Paragraph 33
33. Insists on the adoption of Convergence Guidelines, to be enshrined within a Convergence Code and adopted under the ordinary legislative procedure, with a view to creating a more binding framework for economic policy coordination (with key economic, competitiveness and social targets, such as in the areas of labour markets, competitivenessa focus on current account imbalance, noting the importance of stimulating aggregate demand in surplus countries, full employment, business environment and public administrations, aspects of tax policy and social protection) that is open to all 28 Member States and that guarantees them the possibility of participating in a shock-absorption mechanism; recalls that convergence criteria shall not represent a levelling down of social and human rights standards and a tool to restrict the objectives of the Union as provided for in article 2 and 3 of the TEU;
Amendment 445 #
Motion for a resolution
Paragraph 34
Paragraph 34
34. Believes that a limited number of crucial areas for structural reforms that increase competitiveness, the growth potential, real economic convergence and social cohesionabove all that a sizeable investment programme is needed in order to increase the growth potential, real economic convergence and social cohesion and a number of crucial policies that promote sustainable development, full employment and social progress, and a high level of protection and improvement of the quality of the environment over a five-year period to strengthen the European social market economy, as outlined in Article 3 (3) TEU, should be laid down;
Amendment 447 #
Motion for a resolution
Paragraph 34 a (new)
Paragraph 34 a (new)
34a. Stresses the need of a radical reform of the EU policies, so as to avoid internal economic and social unbalances between Member States, and to allow processes of debt restructuring;
Amendment 454 #
Motion for a resolution
Paragraph 37
Paragraph 37
Amendment 467 #
Motion for a resolution
Paragraph 39
Paragraph 39
39. Considers it necessary for Parliament to be invested with a more substantial role in negotiations within the framework of the European Semester by allowing it to call hearings with governments of Member States affected by Country Specific Recommendations, Economic Partnership Programmes (EPP), Corrective Action Plans (CAP) and Alert Mechanism Reports (AMRs);
Amendment 488 #
Motion for a resolution
Paragraph 42
Paragraph 42
42. Calls for the integrationreplacement of the Fiscal Compact into the EU legal framework on the basis of an assessment of the experience with its implementationby a truly symmetric macroeconomic mechanism for reducing current account imbalances;
Amendment 506 #
Motion for a resolution
Paragraph 44
Paragraph 44
44. Proposes to change the procedure for the adoption of own resources through the general ‘'passerelle clause’' contained in Article 48 (7) TEU, which would facilitate the necessary transition from acombine the system based on Gross National Income (GNI) contributions to onewith a system based on real own resources for the EU and the eurozone budget, such as a reformed Value Added Tax (VAT)n EU wide coordinated wealth levy, a Financial Transaction Tax (FTT) or revenue from other sources such as the Emission Trading Schemea carbon tax;
Amendment 512 #
Motion for a resolution
Paragraph 45
Paragraph 45
45. Calls for better use of the existing structural funds in the direction of fostering competitiveness and cohesion, and for the creation of an incStresses that in the current economic environment of subdued demand, the inflation target of the ECB can only be reasched EU investment capacity through the exploitation of innovative approaches such as the European Fund for Strategic Investments, or through the creation of a specific facility to finance and guarantee infrastructure projects in the interest of the Unwith the support of expansionary fiscal policies as well as strengthening unions collective bargaining power in order to ensure wage growth in line with countries average productivity growth and the ECBs inflation target; calls for better use of the existing structural funds in the direction of fostering cohesion;
Amendment 514 #
Motion for a resolution
Paragraph 45 a (new)
Paragraph 45 a (new)
45a. Calls for the deduction of net public investment from public debt in an effort to implement the "golden rule for public investment" in order to allow for an optimal intergenerational allocation of public investment; believes that the definition of what qualifies as investment should be assessed; considers that in order to limit short term public debt a corresponding threshold for net investment could be implemented; considers that implementation of the rule could be done through annexing an "investment protocol" to the Treaties under the simplified revision procedure of Art. 48 TEU;
Amendment 517 #
Motion for a resolution
Paragraph 46
Paragraph 46
Amendment 530 #
Motion for a resolution
Paragraph 47
Paragraph 47
47. Recalls that the euro is the currency of the Union and that the EU budget is designed to help less developed Member States catch up and become able to join the eurozonePoints out that the current construction of the euro renders it unsustainable as currency of the Union if the governance framework is not fundamentally revised;
Amendment 542 #
Motion for a resolution
Paragraph 48
Paragraph 48
48. Proposes the establishment of a fiscal capacity within the eurozone in order to assist Member States in the implementation of agreed structural reforms, based on incentives and certain conditions, including the effective implementation of the National Reform Programmes agreed within the European Semesterabsorbing asymmetric macroeconomic shocks by assisting the ECB monetary policy via corresponding fiscal backstops for the eurozone; considers that this could be done through the creation of additional capacity and/or by earmarking funding from the existing EU budget for this purpose; underlines that any new instrument should be placed within the EU budget, but outside the ceilings of the MFF, and financed from real own resources;
Amendment 552 #
Motion for a resolution
Paragraph 49
Paragraph 49
49. Pledges to increase the resilience of the EMU when facing economic shocks while preventing any form of permanent fiscal transfers;
Amendment 560 #
Motion for a resolution
Paragraph 50
Paragraph 50
Amendment 568 #
Motion for a resolution
Paragraph 51
Paragraph 51
51. Considers it necessary to incorporate the European Stability Mechanism into the Union legal framework and, as a next step, to transform it into a European Monetary Fundcreate a European Monetary Fund without replicating the policy errors of the IMF and its counterproductive macroeconomic conditionalities as well as establishing an international mechanism for orderly sovereign debt default and restructuring;
Amendment 612 #
Motion for a resolution
Paragraph 57
Paragraph 57
57. Calls forRejects the establishment of a true capital markets union, with a single European capital markets supervisor and especially the securitisation of SME loans; calls for the clearing of the bank balance sheets and the end of austerity policy in order to foster bank financing;
Amendment 615 #
Motion for a resolution
Paragraph 58
Paragraph 58
Amendment 625 #
Motion for a resolution
Paragraph 59
Paragraph 59
59. Considers it necessary to improve the automatic information exchange between national tax authorities in order to avoid tax planning, base erosion and profit shifting, as well as to promote coordinated actions to fight tax havens; calls for the adoption of a sufficiently broad Common Consolidated Corporate Tax Base directive establishing a minimum rate and spelling out common objectives for progressive harmonisation, apportioning tax revenue to member states according to economic substance and spelling out common objectives for progressive harmonisation; calls for binding public country-by-country reporting for all multinational companies with a taxable presence in the EU; deems it necessary to embark on a comprehensive review of the existing VAT legislation, addressing i.a. the issue of reduced rates and the introduction of the country of origin principle, and to establish a partially automatic stabilising mechanism to foster convergence and counter differences in the economic cycles of the Member States;
Amendment 629 #
Motion for a resolution
Paragraph 59 a (new)
Paragraph 59 a (new)
59a. Calls for the democratic control of the ECB via the European Parliament;
Amendment 668 #
Motion for a resolution
Paragraph 70
Paragraph 70
70. Encourages the use of ‘project bonds’, in close cooperation with the European Investment Bank (EIB), for the financing infrastructure and energy projecta greater use of financing of public infrastructure and energy projects through the European Investment Bank (EIB); in this regards, is concerned by the increased use of public-private- partnership project, financed through EFSI projects or project bonds;