10 Amendments of Jonás FERNÁNDEZ related to 2014/2157(INI)
Amendment 7 #
Motion for a resolution
Recital B
Recital B
B. whereas, according to the same forecast, unemployment in the euro area rose from 11.3 % at the end of 2012 to 121.9 % at the end of 2013, and may fall slightly to 11.89 % in 2014;
Amendment 22 #
Motion for a resolution
Recital E
Recital E
E. whereas, according to the Commission services’ springautumn 2014 forecast, the average inflation rate in the euro area was 1.34 % in 2013, down from 2.5 % in 2012; whereas inflation in the euro area has continued to be on a downward path since the beginning of 2014, the estimated rate being 0.5 % for the year as a whole, reaching a low of 0.3 % in September;
Amendment 47 #
Motion for a resolution
Recital L
Recital L
L. whereas Article 282 TFEU states that the primary objective of the ECB is to maintain price stability, but the ECB’s objectives also encompass growth and jobs; whereas Article 123 TFEU and Article 21 of the Statute of the European System of Central Banks and of the ECB prohibit the monetary financing of governments;
Amendment 58 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Remains deeply concerned by the fact that economic activity remains extremely sluggish, with the euro area posting negative GDP growth in 2013, for the second year in a row, and with particularly high unemployment rates in many euro- area Member States reaching levels that threaten the stability of the eurozone, and that there are prospects of economic stagnation in 2015;
Amendment 83 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Underlines that Mario Draghi, in his speech at the annual central bank symposium in Jackson Hole on 22 August 2014, stated that we need action on both sides of the economy, noting that: aggregate demand policies have to be accompanied by national structural reforms and policies; on the demand side, monetary policy can and should play a central role, which currently means an accommodative monetary policy for an extended period of time; there is scope for fiscal policy to play a greater role alongside monetary policy; and no amount of fiscal or monetary accommodation can compensate for the necessary action on the supply side through structural reforms in the euro area, while structural reforms are necessary in order to boost growth in the medium term, the emphasis in the short term needs to be laid on fiscal policy, from the perspective of the euro area as a whole, and on monetary policy;
Amendment 106 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Notes that the ECB has announced that it will purchase asset-backed securities (ABS) and covered bonds in order to empower the credit-easing impact of the TLTROs; stresses that such interventions on the ABS market must be conducted in a transparent manner that does not create excessive risks for the ECB’s balance sheet;
Amendment 118 #
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 137 #
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 147 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Recalls that monetary policy alone cannot stimulate aggregate demand unless it is complemented by adequate fiscal and structural national reforms and policies; accordingly takes the view that the EU as such, or at any rate the euro area, needs to have a revenue-raising power enabling it to pursue a countercyclical economic policy, which in turn implies a need to increase own resources through taxes established at pan-European level;
Amendment 206 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Recalls that the Single Resolution Mechanism (SRM), the second pillar of the Banking Union, will come into force by the beginning of 2015; stresses the need to continue developing the third pillar of the Banking Union; accordingly considers it essential to enhance the credibility of the Single Resolution Fund (SRF) by providing it with additional resources commensurate with the ECB’s role of imposing penalties where the supervision of financial entities is concerned;