Activities of Miguel VIEGAS related to 2015/2326(INI)
Plenary speeches (1)
2014 Annual report on monitoring the application of Union law (A8-0262/2016 - Heidi Hautala) PT
Amendments (10)
Amendment 28 #
Draft opinion
Paragraph 4
Paragraph 4
4. Recalls that non-compliance with the Maastricht criteria, and the lenient enforcement of the Stability and Growth Pact rules by the Commission and the Council before 2010,the Stability and Growth Pact (SGP), the 6-pack and the 2-pack, as well as the Fiscal Compact, unnecessarily constrains the vital fiscal policy space of the Eurozone Member States, depriving them of the only effective macroeconomic tool in a context of weak demand and ineffective monetary policy; recalls that it was these austerity policies which contributed to the emergence of the European debt crisis that followed the global financial crisis;
Amendment 30 #
Draft opinion
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Stresses that the 2008 financial crisis resulted in a colossal intervention by EU governments in support of the financial sector; points out that the total state aid granted to the financial sector amounted to more than EUR 5 trillion, representing 40.3 % of EU GDP;
Amendment 32 #
Draft opinion
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Recalls, that according to the OECD 2012 report, the sustainability of sovereign debt was significantly affected by the extent of explicit or implicit guarantees for bank debt;
Amendment 35 #
Draft opinion
Paragraph 5
Paragraph 5
5. Points out that in 2014 only 10 of the 157 main recommendations made to Member States in the framework of the European Semester were fully implemented or showedthe European Semester has failed to address the challenges of ensuring macroeconomic stability or promoting substantial progress4 ; __________________ 4Success rate of around 6.5%: Zsolt Darvas and Alvaro Leandro, ‘The Limitations of Policy Coordination in the Euro Area under the European Semester’, Bruegel, November 2015.inable growth; underlines that the current framework does not allow for a proper debate on the alternatives to an unbalanced governance framework based on arbitrary budgetary rules;
Amendment 42 #
Draft opinion
Paragraph 7
Paragraph 7
7. Is very concerned by the fact that the Deposit Guarantee Scheme Directive (DGSD) has still not been implemented by 10 Member States6 , which undermines the efforts to build a European Deposit Guarantee Scheme that would complete the Banking Union; __________________ 6Belgium, Cyprus, Estonia, Greece, Italy, Luxembourg, Poland, RomBelieves that it should be the role of national central banks to guarantee all foreign-currency deposits held by financia, Slovenia and Sweden; Commission press release, 10 December 2015.l institutions based in their countries;
Amendment 47 #
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Notes that the creation of a European Deposit Insurance Scheme (EDIS) requires the implementation of the single rulebook as well as of the first and second pillars of the Banking Union, as well as the transposition of the BRRD and the Deposit Guarantee Schemes Directive (DGSD) by all the participating Member States. Stresses with grave concern, that these are moves towards the creation of a Financial Union, notably through a European Deposit Insurance Scheme;
Amendment 50 #
Draft opinion
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. stresses that all Legislation should respect the principle of subsidiarity; stresses that issues of subsidiarity and proportionality must be thoroughly agreed upon and should always ensure the competency and autonomy of each Member States' is upheld;
Amendment 52 #
Draft opinion
Paragraph 8
Paragraph 8
Amendment 58 #
Draft opinion
Paragraph 9
Paragraph 9
9. Believes that the Commission should propose more regulations and fewer directives in orNotes with concern that Regulations are "binding in their entirety" and "directly applicable" on all member states. Directives provide Member States with the autonomy to consider the most appropriate means of implementing directives into domestic law provided that the objectives of the directives are attained and providerd to ensure a level playing field amonghat the directive is implemented into domestic law within the required timescale. Stresses theat Member States should retain as much competence and sovereign decision making vis-à-vis legislation;
Amendment 68 #
Draft opinion
Paragraph 10
Paragraph 10
10. Is of the opinion that financial penalties for non-compliance with EU lLaw should include a multiplier for those Member States for which several procedures are openis not effective as powerful states who infringe European law are less sensitive to the costs imposed by sanctions;