19 Amendments of Caroline NAGTEGAAL related to 2022/2006(INI)
Amendment 45 #
Motion for a resolution
Recital F
Recital F
F. whereas the post-pandemic economic recovery requires the fast and efficient implementation of the temporary Recovery and Resilience Facility (RRF); whereas all recovery and resilience plans should address each of the six pillars and the general and specific objectives of the RRF Regulation and respect its horizontal principles;
Amendment 49 #
Motion for a resolution
Recital F a (new)
Recital F a (new)
Fa. whereas the RRF Regulation stipulates that the debt issued to finance the Recovery and Resilience Fund is to be repaid by 2058, in a manner that ensures the steady and predictable reduction of liabilities;
Amendment 59 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes that the European economy is recovering faster than expected from the devastating impact of the global pandemic; underlines the crucial importance that timely policy interventions have played and will continue to play in mitigating the impact of the pandemic on the European economy; recalls fiscal consolidation and a sound and sane economy for future investments as the underlying reason behind establishing the RRF;
Amendment 85 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recognises that the crisis triggered by the COVID-19 pandemic has been especially severe for enterprises, mostly small and medium-sized enterprises (SMEs), in tourism, hospitality and culture; recognises the notion of European solidarity underpinning the establishment of the RRFthis must be taken into account by the Member States while spending the funds to truly alleviate the impact on citizens of the pandemic-induced economic crisis;
Amendment 100 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Points out that not only the successful roll- out of the RRF will help to make EU economies and societies more sustainable, inclusive, resilient and better prepared for the green and digital transitions; but also an efficient and transparent monitoring of the national plans which ensures that funds are used to modernise member state economies;
Amendment 112 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and iappreciates its expected to be deactivated as of 2023ion in 2023 the latest;
Amendment 125 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that the review of the EU’s economic governance framework is necessary; agrees with the European Fiscal Board on the importance of having a clear pathway towards a reviewed fiscal framework, preferably prior to the deactivation of the general escape clause however this must not be a condition for its deactivation;
Amendment 128 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Calls on the commission to make its indicator for fiscal sustainability ("S2"), a binding component of the assessment of national budgets within the framework of the Stability and Growth Pact;
Amendment 130 #
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Calls on the Commission to ensure compliance of the Member States with the rules of the fiscal pact and make it a condition for accessing cohesion funds;
Amendment 131 #
Motion for a resolution
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Suggests automatic sanctions against member states that persistently violate the principles of public budget management, including non-financial sanctions, such as the suspension of the right to vote in the Council of Economics and Finance Ministers;
Amendment 132 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Is convinced that the coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance, taking into account national budgets and the RRF, is projected to remain supportive in 2022 to sustain the recovery; stresses that the amount of fiscal stimulus should depend on the rates of unemployment and inflation, taking duly into account that national debt levels must remain sustainable at any point in time; highlights in this regard that excessive and unsustainable debt levels were the primary cause of the European debt crisis; agrees with the Commission that Member States with low or medium levels of debt should pursue or maintain a supportive fiscal stance, and that Member States with high levels of debt should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscal policy; agrees with the Commission that all Member States should preserve or broadly preserve their national financed investmentis concerned however that continued fiscal stimulus is unfolding an increasingly inflationary environment, exacerbating the forces at play; expresses its deep concern that increasing levels of inflation have a disproportionate impact on low and fixed incomes, erode savings and disturb the crucial price signalling function that market prices perform in ensuring an efficient allocation of economic resources, potentially leading to macroeconomic instability;
Amendment 146 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Reiterates its stance that a proper and credible economic governance framework is a necessary requirement for sustainable fiscal policies, debt and deficit trajectories ensuring credible paths of debt reduction; stresses the importance of a sustainable debt level for the real economy;
Amendment 166 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Considers that it is crucial to coordinate national reform and investment efforts and the exchange of best practices in order to increase the convergence and resilience of our economies, promote sustainable and inclusive growth through new elements, and improve institutional frameworks and interinsitutional relations;
Amendment 187 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Highlights that the RRF presents an unprecedented and unique opportunity for all Member States to address key structural challenges and investment needs and insists that all recovery and resilience plans address all requirements of the RRF Regulation, in particular its future-oriented concept including sustainability in the six pillars; highlights the interplay between the European Semester and the RRF; calls on the Member States to make the most of this opportunity and to use it to transform their economies and make them sustainable, more competitive and more resilient to future shocks; highlights the role of the European Parliament in the implementation of the RRF, as enshrined in the RRF Regulation;
Amendment 195 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Recalls that Member States, in their recovery and resilience plans, are required to effectively address all challenges identified in the relevant CSRs, including the fiscal aspects thereof; encourages the European Commission to make sure that this requirement is adhered to when scrutinising the RRPs and their implementation;
Amendment 200 #
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. Asks the Commission to thoroughly assess the arrangements proposed by the Member States to prevent, detect and correct corruption, fraud and conflicts of interest when using the funds provided under the RRF and to give a particular attention in this context that the national plans include all necessary reforms, together with relevant milestones and targets, in particular related to the relevant CSRs, where appropriate;
Amendment 202 #
Motion for a resolution
Paragraph 10 c (new)
Paragraph 10 c (new)
10c. urges the Commission to monitor very carefully the risks to EU financial interests in the implementation of the RRF of any breach or potential breach of the principles of the rule of law, with a detailed and in particular attention to public procurement; expects the Commission not to proceed with any payments under the RRF if milestones linked to measures to prevent, detect and correct corruption, fraud and conflicts of interest when using the funds provided under the RFF are not met;
Amendment 226 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Is concerned that the Commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 Member States; is worried that the nature and source of Member States’ imbalances remain largely the same as before the pandemic and that the pandemic could also be exacerbating imbalances and economic divergences; highlights in this regards again the importance of a general compliance with the fiscal rules to either maintain or achieve a fiscal sustainability and consolidation; calls on the Member States to take advantage of the unprecedented opportunity provided by the RRF to significantly reduce existing macroeconomic imbalances, in particular by including ambitious reform measures in the national plans of all Member States; stresses that sound execution and close monitoring is essential to make full use of this opportunity;
Amendment 244 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recognises the importance of the macroeconomic imbalance procedure in identifying, preventing and addressing macroeconomic imbalances in the EU; highlights that continuous monitoring and, vigilance and sanctions as a measure of last resort will be needed and that Member States should address emerging imbalances through reforms that enhance economic and social resilience and promote the digital transformation and green and just transitions;