29 Amendments of Stéphanie YON-COURTIN related to 2019/2211(INI)
Amendment 34 #
Motion for a resolution
Recital A
Recital A
A. whereas the improvement in the economic situation and low interest rates provide an opportunity to implementundertake much needed infrastructure and R&D investments as well as ambitious reforms, in particularcluding measures aimed at encouraging public investment to tackle climate change and its social consequences and create full-time jobsjobs and sustainable economic growth;
Amendment 48 #
Motion for a resolution
Recital B
Recital B
B. whereas inequality of income in the euro area has increased since the beginning of the financial crisisthe number of European citizens living in poverty or at risk of poverty remains unacceptably high and that the Europe 2020 strategy to reduce the number of Europeans at risk of poverty or social exclusion has unfortunately failed; whereas there are between 50 and 100 million people affected by energy poverty alone in Europe;
Amendment 86 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes that, in view of the climate change emergency, the EU’s Annual Growth Survey (AGS) has now been renamed the Annual Sustainable Growth Survey (ASGS), and considers that this implies a change in the positioning of the report and the implementation of ecological indicatorsthat this survey focused on the economy’s both short and longer term challenges, based on four key dimensions: environmental sustainability, productivity gains, fairness and macroeconomic stability;
Amendment 105 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes the role of the European Green Deal as the EU’s new strategy defining ecological issues and the wellbeing of citizens as principal goals for the Union; notes, with regard to the scope of the European Semester, the inclusion of the SDGs and of the principles of the European Pillar of Social Rights (EPSR), which will require the adjustment of some existing indicators and the creation of new ones to monitor the implementation of EU economic, environmental and social policies, as well as coherence between policy goals and budgetary means; notes the need to implement long-term planning to tackle climate change;
Amendment 145 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Is concerned that post-crisis investment has been on a downward path in the EU in spite of historically low interest rates, currently standing at 3.4 %, with overall infrastructure investment now at about 75 % of its pre-crisis level; whereas 80 % of the shortfall is the result of cutbacks in the public sector, which have occurred particularly in countries subject to adverse macroeconomic conditions and the more severe fiscal constraints imposed on disadvantaged regions already characterised by poor infrastructure quality and weak socio- economic outcomes, but also, and surprisingly, in countries with a large fiscal space;
Amendment 149 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Is concerned that post-crisis investment has been on a downward path in the EU in spite of historically low interest rates, currently standing at 3.4 %, with overall infrastructure investment now at about 75 % of its pre-crisis level; whereas 80 % of the shortfall is the result of cutbacks in the public sector, which have occurred particularly in countries subject to adverse macroeconomic conditions and the more severe fiscal constraints imposed on disadvantaged regions already characterised by poor infrastructure quality and weak socio- economic outcomes, but also, and surprisingly, in countries with a large fiscal spaceunderlines that some of the budgetary decisions made by Member State governments over the last ten years have resulted in reduced investments and reductions to services most utilised by the least wealthy in those societies;
Amendment 154 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Emphasises that Member States must increase productivity through productive investments that can stimulate much-needed potential economic growth;
Amendment 155 #
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Stresses that intra-European foreign direct investment can lead to productivity gains for both the investing firm and local firms in the host regions, and helps generate economic convergence within Europe; considers that clear and enforceable rules, a level playing field and reduced compliance costs are crucial factors for attracting investment, a key component of the EU Single Market that delivers economic growth, creates jobs and secures prosperity for our citizens;
Amendment 156 #
Motion for a resolution
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Highlights the urgent Need for a fully-fledged capital markets union, as better integrated financial markets could provide for further private risk-sharing and risk-reduction mechanisms, facilitate cross-border investments and access to finance for SMEs and the real economy, and promote sustainable investments
Amendment 157 #
Motion for a resolution
Paragraph 5 d (new)
Paragraph 5 d (new)
5 d. Considers that reforms removing disproportionate red tape to investments would both facilitate economic activity and create conditions conducive to long- term growth;
Amendment 158 #
Motion for a resolution
Paragraph 5 e (new)
Paragraph 5 e (new)
5 e. Stresses that increasing productivity growth requires investment in skills, innovation, Automation, digitalisation, R&D, sustainable mobility and infrastructure, and emphasises the need to invest in both physical and human capital, and thereby calls on the Member States to ensure equal access to lifelong education, upskilling and retraining to best prepare our citizens to face the challenges of the Digital age;
Amendment 165 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. EndorsNotes the conclusion of the European Fiscal Board (EFB) that the fiscal framework has not protected the quality of public expenditure, ands welcomes the EFBl as it’s proposal for a ‘golden rule’ to protect public investment; calls, therefore, for the reform of the Stability and Growth Pact and the introduction of a golden rule aimed at implementing sound fiscal policy on an equal footing withto ensure that both sound fiscal policy and investments in line within the EU’s priority policy objectives; whereas this should cover the investment foreseen for the realisation of the Green Deal, the Digital Revolution, the SDGs and the EPSR Rights, including expenditure aimed at reducing poverty and inequality related to social protection, health services and long-term care, and education and training to enable the EU to face the challenges of the 21st century are possible;
Amendment 198 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Calls for a European Green Industrial Strategy; calls on the Member States to promote private and public investment in real economy with fiscal incitation or other adequate measures ;
Amendment 207 #
Motion for a resolution
Subheading 4
Subheading 4
Amendment 212 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Shares the concern expressed in others ofNotes the EFB’s conclusions regarding the pro-cyclical elements in the EU fiscal rules, which forced Member States to adjust their economies in a poor or difficult economic situation, failing to improve the quality of public finance and promote investment; welcomes the EFB’s recommendation of a seven-year cycle mirroring the MFF so as to better coordinate Member States’ public accounts, and especially investmentsuggests that it would be advisable to reduce the MFF to a five- year cycle as this would bring it in line with the European electoral cycle and help Member States to better coordinate and plan investments in line with political priorities;
Amendment 217 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that the debt levels of all the Member States are above the pre-crisis level and are expected to exceed 60 % in 2021; further notes that in six Member States the ratio will be higher than 90 %; highlights the fact that the fiscal rules have not contributed to bringing down the debt levels of highly indebted countries but have, rather, increased them;
Amendment 218 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that the debt levels of all the Member States are above the pre-crisis level and are expected to exceed 60 % in 2021; further notes that in six Member States the ratio will be higher than 90 %; highlights the fact that the fiscal rules have not contributed to bringing down the debt levels of highly indebted countries but have, rather, increased them;
Amendment 227 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Supports flexibility in the implementation of the SGP as proposed by the Commission in 2015; considers that much more flexibility should be introduced in order to boost investment andUnderlines the analysis of the EFB that through revised, simplified fiscal rules public investment could be better protected within the EU; as stated by the EFB underlines that rather than introducing flexibility in the implementation of the SGP as proposed by the Commission in 2015 a better result could be achieved through the provision of a general escape clause which could be triggered and applied parsimoniously and based on independent economic analysis; considers that this could be a useful tool in order to boost investment and help the EU to face its challenges, including the ecological transition in the EU; calls, therefore, for the reform of the SGP and the introduction of a euro area fiscal capacity;
Amendment 261 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Believes that the Macroeconomic Imbalances Procedure (MIP) is a tool which has been under used since its creation; believes that it can be a useful tool for integrating environmental factors into the European semester and investment; calls for the creation of a new indicator and related thresholds within the established scoreboard to take environmental criteria into account;
Amendment 262 #
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13 b. Stresses that the 2 and 6 pack are both due to be reviewed very shortly and that the MIP is one of the few economic governance tools where the Parliament plays its full role of co-legislator;
Amendment 293 #
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15 a. Points out that macro-financial stability and sound public finances remain a precondition of sustainable growth;
Amendment 302 #
Motion for a resolution
Paragraph 15 f (new)
Paragraph 15 f (new)
15 f. Welcomes the Commission’sefforts to encourage those Member States with current account deficits or high external debt to improve their competitiveness;
Amendment 327 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls for the systematic inclusion of tax matters in the Country Specific Recommendations (CSRs), with the aim of ensuring economic coherence and a level playing field across EU Member States as well as the fairness of EU tax systems; believes that the CSRs could ensure a fair balance between sources of revenue and should also include innovative elements aiming at promoting the Green Deal; further believes that they should also support Member States in tackling tax avoidance and aggressive tax planning;
Amendment 351 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. StressHighlights the problem of underemployment for some in the EU who would like to work more and the wasted economic potential that this represents of people wishing to contribute more to the economy and society but not being able to; underlines that, according to the 2018 EU Labour Force Survey, there are 8.3 million involuntary part-time workers in the EU, two thirds of them women; requests the Commission to undertake a study to analyse the impact of this development on pension systems and public finances;
Amendment 363 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Takes note of AMR 2020’s finding that wage growth at euro area level remains below what would be expected at the current levels of unemployment on the basis of historical data, and that this affects the inflation rate; highlights that the currently low productivity and inflation together with structural reforms transferring collective bargaining to the enterprise level are detrimental to wage growth and are leadingcontribute to greater income inequality and an increase in the numbers of working poor, with in-work poverty affecting almost one in ten workers in Europe; accordingly advocates wage growth;
Amendment 373 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Underlines the fact that the number of people at risk of poverty or social exclusion stands, on 2017 figures, at 113 million, or 22.5 % of the population, which is in stark contrast to article 3 TEU which states that “the Union’s aim is to promote the well-being of its peoples”;
Amendment 393 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Highlights the time constraints on the current European semester process, which form an obstacle toportance of full debate and the proper involvement in the process of civil society organisationsEuropean semester of , social partners, and even national parliaments and the EP, and contribute significantly to the lack of a sense of ownership and implementation; ;; calls for the extension of the semester cycle to a biannual or triannual period, with the possibility of revision in case of major economic shocks;
Amendment 403 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Looks forward to the stronger involvement of the EP and the national parliaments in the European Semester process and to the creation of an institutionalised dialogue with the Commission, the social partners, territories and civil society, at both EU and national level, in order to further boost the process’s democratic legitimacy;
Amendment 410 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Invites the stakeholders in this necessary next step to create enhanced democratic accountability mechanisms at both EU and national levels, while formalisingCalls for the formalisation of the scrutiny role of the EP in the European Semester; calls on the Commission and the Member States to enhance the social dialogue, including over the CSRs, and to engage in dialogue with the social partners;