17 Amendments of Manon AUBRY related to 2022/2150(INI)
Amendment 11 #
Motion for a resolution
Recital B
Recital B
B. whereas the EU labour market has proved particularly resilient, with an additional two million people in employment, leading to a record low unemployment rate of 6.2 % in 2022; whereas according to the Commission’s autumn economic forecast the public sector was a key contributor to the increase in employment; whereas despite labour market tightness wage growth has remained moderate; whereas the unemployment rate is expected to increase slightly in 2023 (6.5 %), before marginally coming down again in 2024 (6.2 %);
Amendment 16 #
Motion for a resolution
Recital C
Recital C
C. whereas according to the annual sustainable growth survey, inflation should peak at 10.7 % in 2022 and then gradually decrease to 7.0 % in 2023 and 3 % in 2024; whereas wage growth, which has remained moderate, is expected to only partially mitigate losses in real incomes,; without triggering a persistent feedback loop between wages and inflationhereas the International Labour Organization pointed that, on an aggregated level, real wages in the EU reduced 2,4% in the first half of 2022 and stressed the space of manoeuvre to increase nominal wages;
Amendment 22 #
Motion for a resolution
Recital D
Recital D
D. whereas according to the Commission’s autumn forecast, the debt- to-GDP ratio is expected to fall to 86 % in the EU at the end of 2022 (94 % in the euro area) from the historically high level of 91.5 % recorded in 2020 (99 % in the euro area); whereas the debt-to-GDP ratio is expected to decline marginally in the EU to around 85 % in 2023 and 84 % in 2024 (92 % and 91 % in the euro area); whereas there is no academic consensus on the causality between low debt levels and economic growth;
Amendment 41 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Is concerned that the EU is one of the most exposed advanced economies to downward risks, given its geographical proximity to Ukraine and heavy reliance on gas imports from Russia; notstresses that the impact of high energy prices and inflation, inflation and a restrictive monetary policy leads to the erosion of household purchasing power; highlights that a reduction in aggregate demand, combined with less favourable financing conditions, could lead to a sharp decline in investment and therefore in economic growth;
Amendment 57 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that while the primary objective of the European Central Bank (ECB) is to maintain price stability, the primary objective of the Union as a whole should be to minimise the impact of current turbulences on the real economy, thereby defending and supporting the wellbeing of its citizens, in particular the most vulnerable ones, and preserving its production structure, and the international competitiveness of its companies well as decent working conditions; underlines, in this regard, the importance of adequate and coordinated fiscal, structuralpublic investment and regulatory policies that complement the ECB’s monetary policy actions, which are also capable of, supporting household incomes and providing targeted support to companies, specially SMEs, suffering from supply bottlenecks and, high energy costs and prooven with no economic capacity;
Amendment 65 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Stresses that the current restrictive monetary policy followed by the European Central Bank (ECB) encompasses recessionary consequences, particularly for the most vulnerable, increases the risk of bank instability by promoting credit defaults and worsens the financing conditions in international markets, especially for countries with higher debt- to-GDP ratios; calls on the ECB to reassess its policy and to halt the increase of interest rates;
Amendment 86 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. RecallNotes that the European Semester is a well-establisthed framework for coordinating the budgetary, economic, social and employment policies across the European Union; Regrets the progressively enlarging of its scope of action, which should be further simplified in order not to constrain the sovereignty of the Member States;
Amendment 95 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. RecallNotes the close link between the European Semester and the implementation of the RRF, whereby the national recovery and resilience plans (NRRPs) are expected to contribute effectively to addressing all or a significant subset of the challenges identified in the relevant country-specific recommendations addressed to each Member State in the context of the European Semester;
Amendment 103 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Highlights the key role being played by the NRRPs in driving the Member States’ reform and investment agendas; recalls the importance of reformstresses the crucial role of strategic and public investments in bolostering recovery and future productivity growth and as enablers of investment; stresses the crucial role of investments in boosting growthgrowth; regrets the imposition of reforms to Member States, namely cuts in public spending for strategic economic and social sectors;
Amendment 129 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. HighlightNotes the essential role played by the RRF in equipping the Union with the tools needed to successfully face the global challenges stemming from the green transition and the digital transformation of the economy, along with the implementation of the European Pillar of Social Rights;
Amendment 136 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. WelcomesTakes note of the publication of the Commission’s communication on orientations for a reform of the EU economic governance framework; expresses concern about its delay; stresses the need to adopt legislative proposals before time runs out and the general escape clause is removed and the current legislature comes to an enregrests that the proposal, despite the long public debate, does not resolve the issues identified;
Amendment 150 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Agrees with the Commission’s orientations as regard the simplification of the framework, differences in Member States’ debt reduction paths,eletion of the mandatory reduction of the excessive public debt over the 60% limit in the ucourse of a comprehensive debt sustainability analysis20 years, differences in types of public spending and the general escape clauses;
Amendment 156 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Regrets the lack of willingness to change the arbitrary fiscal limits of 3% of deficit and 60% of debt to GDP thresholds; recalls that these limits lack economic justification, have led to undifferentiated reduction of public spending in the past and have been systematically not complied with;
Amendment 158 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Notes the aim to stimulate investment and reforms by allowing Member States to have different debt reduction paths, provided that these enhance growth, improve debt sustainability and are in line with the EU’s objectives, in particular those of the green and digital transition and social resilience; however, strongly regrets the absence of preferential treatment for future-oriented public spending, such as green investment, from debt and deficit limits; moreover, is concerned with the fact that the do no significant harm principle is not mentioned in the assessment criteria for the multiannual plans; reiterates the importance of this principle in promoting the EU objectives of long term sustainability and resilience of the EU economy and society;
Amendment 171 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Welcomes the deletion of reducing the excessive public debt over the 60% limit over 20 years; regrets, however, the creation of ceilings for the net primary expenditure; stresses the discretionary nature of this measure, possibly being interpreted in different ways, and that empirical evidence from the last crisis showed that countries with a larger fiscal consolidation registered an increase in public debt;
Amendment 172 #
Motion for a resolution
Paragraph 11 b (new)
Paragraph 11 b (new)
11 b. Regrets the tightening of financial sanctions applied to Member-States; is concerned that this would create a dangerous precedent; reegrets the closer introduction of structural reforms by the European Commission;
Amendment 173 #
Motion for a resolution
Paragraph 11 c (new)
Paragraph 11 c (new)
11 c. Stresses that the revision of the EU Economic Governance Framework maintains the poor assessment of the causes of the Sovereign Debt crisis; stresses that the increase of public debt was not the cause but rather the consequence of external imbalances among EU Member-States;