24 Amendments of Stéphanie YON-COURTIN related to 2020/2075(INI)
Amendment 46 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Commission communication of 3 March 2021 entitled ‘One year since the outbreak of COVID- 19: fiscal policy response’ and takes notewelcomes of the proposed conditions for deactivatmaintaining the general escape clause (GEC); highlights that deactivation of the GEC should be conditional upon until at least 2022; agrees with the Commission that deactivation of the GEC should be contingent on an overall assessment of the state of the economy based on, primarily, quantitative criteria; agrees that economic activity in the EU or Euro Area compared to pre-crisis levels should be the key criterion; however, stresses that the health, social and economic situation acrossof each Member States should be taken into account in order to ensure that fiscal support is provided for as long as needed;
Amendment 74 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Calls on the Commission to put forward guidelines for a transition period until the new fiscal framework is in place, during which time no excessive deficit procedure should be activated and with the possibility to use the ‘unusual event clause’all existing flexibilities within the fiscal framework on a country- specific basis to prevent premature fiscal consolidation;
Amendment 84 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Considers that economic indicators and adjustment paths need to be interpreted cautiously, and therefore calls for the code of conduct of the Stability and Growth Pact to be revised vis-à-vis the benchmarks needed to calculate such adjustment needs and paths; stresses that fiscal guidance should avoid pro-cyclical biases, promote upward convergence and sustainable, inclusive and digital growth in line with the European Green Deal and the implementation of the European Pillar of Social Rights, and counteract macroeconomic imbalances; calls for special accounting treatmentearmarking for loans from Next Generation EU (NGEU) related spending;
Amendment 93 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls for a continued expansionary fiscal stance for as long as needed and for it to be shifted to support the recovery from the COVID-19 pandemic and a green, digital and inclusive transformation while ensuring fiscal sustainability; stresses that a premature withdrawal of support should be avoided and that the shift in fiscal policy should be gradual;
Amendment 106 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls on the Member States to embed the high-quality fiscal support in credible medium-term frameworks, bearing in mind that emergency fiscal policy measures are temporary, limited and targeted; calls on the Member States to monitor fiscal risks, namely contingent liabilities, as appropriate;
Amendment 134 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses the importance of complementarity between monetary and fiscal policies to deliver the required support post-COVID-19; considers that the low interest rate environment has implications for fiscal policy; warns against a premature tightening of monetary and fiscal policy; recognises the potential negative impacts of a sharp increase in the interest rate environment but nonetheless stresses the importance of preserving the independence of the ECB in setting monetary policy;
Amendment 159 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Calls for an appropriateenhanced coordination between fiscal and monetary policy mix that work togetheries when working towards achieving the EU’s objectives and promoting sustainable, inclusive and digital growth;
Amendment 168 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Highlights that debt levels have increased and that some Member States already have a sizeable debt legacy; notes that circumstances have changed since the Maastricht criteria were defined and that inflation and interest rate levels are considerably lower; the fiscal framework, including the relevant benchmarks, should be reviewed and reformed in the context of the current economic environment and not be bound by historic limitations;
Amendment 187 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that debt service costs are expected to remain low for the foreseeable future and primary deficits are likely to be offset by favourable interest-growth differentials; further considers that as long as the differentials are negative it is possible to sustain and progressively reduce high debt levels towards a sustainable level;
Amendment 197 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recalls the importance of growth- enhancing policies and publicsustainable public and private investment aimed at increasing growth potential and achieving the EU’s objectives centred around the green and digital transitions; highlights the importance of promoting public and private investments to unlock additional capital, especially in the context of the EU recovery;
Amendment 218 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls on the Commission to relaunch the debate on the reform of the economic governance of the Union with a view to coming forward with a legislative proposal by the end of 2021; underlines the need to use the Recovery and Resilience Facility as a starting point for a more ambitious, transparent and democratic economic governance framework; calls for a rethink of EU fiscal rules, also in view of the legacies of the pandemic, and supports the EFB’s conclusion that the fiscal framework has to be adapted;
Amendment 224 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls on the Commission to relaunch the debate on the reform of the economic governance of the Union with a view to coming forward with a comprehensive, forward looking legislative proposal by the end of 2021; calls for a rethink of EU fiscal rules, also in view of the legacies of the pandemic, and supports the EFB’s conclusion that the fiscal framework has to be adapted;
Amendment 238 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for the renewed fiscal framework to promote sustainability and cyclical stabilisation and to improve the quality of public expenditure through sustainable investments and reforms; calls for well-defstreamlined, transparent, simple, flexible and enforceable rules embedded in a credible and democratic framework that take into account the specificities of Member States and promotes upward economic and social convergence; calls for the renewed framework to have a greater emphasis on the quality of the debt;
Amendment 285 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Proposes, in line with the EFB, that existing waivers and derogations are replaced by ‘ one general escape clause, triggered based on independent economic judgement’; but asks for further clarification on the composition of the independent body, and how its independence would be ensured;
Amendment 302 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Shares the EFB’s opinion that sustainable growth-enhancing public investments should be exempt from the expenditure rulearmarked, in particular those investments that are aligned with the EU’s long-term objectives of the NGEU; whilst it is important that growth-enhancing public investment is incentivised, eligible investments should be clearly framed and contribute to the achievement of the EU’s objectives;
Amendment 309 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Stresses that an updated EU fiscal framework must act as an enabler to achieve the objective of the Green Deal and bridge the climate-friendly investment gap;
Amendment 315 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Stresses that governments’ revenues are essential to guarantee the sustainability of public finances; calls on the Member States to take action to tackle tax fraud, tax avoidance, and tax evasion, as well as money laundering, including the full transposition of the relevant European legislation into national legislation; Welcomes the Commission’s Action plan for a comprehensive Union policy on preventing money laundering and terrorism financing and calls for an ambitious legislative proposal with enforced European level supervision, competences and resources, as detailed in Parliament’s resolution B9-0207/2020;
Amendment 328 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Agrees with the opinion of the EFB and others21 that a deepening of the Economic and Monetary Union (EMU) would be helped by a central fiscal capacity, which could help cushion idiosyncratic shocks, whether common or country-specific, in a timely manner; recalls in this regard the need to create the role of EU Treasury Secretary in order to reinforce its democratic responsibility in line with the Commission Communication of 6 December 2017, “Further Steps Towards Completing Europe’s Economic and Monetary Union: A Roadmap”; _________________ 21International Monetary Fund and the European Central Bank.
Amendment 374 #
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27a. Calls on the Commission to start working on the creation of a climate indicator to assess the discrepancy between the structure of Member States’ budgets and the Paris-aligned scenario for each of their national budgets; stresses the need for this indicator to provide Member States with information on their trajectory within the framework of the Paris Agreement in order to ensure that Europe is able to become the first climate-neutral continent by 2050; expects the climate indicator to be a reference for the EU’s various policies and thus also to be used as a guide for the European Semester, without watering down its original purpose;
Amendment 375 #
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27a. Considers that alignment of national fiscal policies with the EU’s commitments under the Paris Agreement should be apriority; notes that the climate poses real and severe risks to the sustainability of member states’ fiscal policies; reiterates the EU’s stated ambition to become the first climate- neutral continent by 2050;
Amendment 392 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Calls for a renewed European Semester as the main economic and social policy coordination framework supporting the EU’s long-standing goals of sustainability and upward convergence with stronger national ownership; calls for more rigorous democratic scrutiny and for Parliat EU and national level to hold national government’s full involvement in defining the overarching goals and the guidanceaccount; Moreover, calls for greater involvement of the European Parliament in defining the overarching goals and the guidance; identifies the upcoming Conference on the Future of Europe as a possible forum to discuss the greater involvement of the European Parliament in defining and enforcing common EU rules on economic policy coordination; stresses that the governance of the Recovery and Resilient Facility should serve as an inspiration for the future of economic policy coordination;
Amendment 406 #
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30a. Underlines the need to use the Recovery and Resilience Facility as an example to further explore ways to increase the role of the European Parliament and calls for the Facility to become a starting point in the debate of renewing the economic governance framework;
Amendment 417 #
Motion for a resolution
Paragraph 32
Paragraph 32
32. Calls for more involvement of nNational pProductivity councilBoards in the MIP process to strengthen the role of independent, national, economic analyses in the MIP process;
Amendment 426 #
Motion for a resolution
Paragraph 33
Paragraph 33
33. Underlines that for better enforcement each Member State should strive for strong ownership of commonly agreed economic policy priorities and that, in this context, the right balance should be sought between peer support, peer pressure, financial benefits and financial consequences;