13 Amendments of Irene TINAGLI related to 2024/2112(INI)
Amendment 43 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas in the first quarter of 2024 housing construction contributed approximately to 6% of GDP, and investment in dwellings accounted for roughly 28% of gross fixed capital formation;
Amendment 55 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
B a. whereas simultaneous consolidation across Member States during the EU sovereign debt crisis has contributed to sharper recession due to negative cross-country spillovers1a; _________________ 1a Terzi A. (2020). Macroeconomic adjustment in the euro area. European Economic Review, vol. 128
Amendment 67 #
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas the Recover and Resilience Facility (RRF) aimed by design at supporting economic convergence; whereas it proved useful and adaptable to the challenges of the subsequent disruption of energy market;
Amendment 71 #
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas the European instrument for temporary Support to mitigate Unemployment Risks in an Emergency (SURE) scheme supported relevant institutional changes in several Member States in support of short-time work schemes and similar measures; whereas it helped to keep people in jobs, avoiding unemployment, income losses and potential hysteresis effect;
Amendment 179 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Highlights that debt sustainability analysis (DSA) plays a key role in the reformed EU fiscal rules; recalls that DSA is used to assess how much fiscal adjustment is required to ensure that the public debt ratio is on a plausible downward trajectory; regrets that the current methodology assumes that fiscal consolidation efforts by trading partners do not spill over into domestic economic activity, thus underestimating the effect of national fiscal policies on the other Member States and on the euro area aggregate fiscal stance; calls the Commission to explore possible methodological improvements in this regard;
Amendment 183 #
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Is of the opinion that a bigger role of the Commission's debt sustainability analysis (DSA) in the fiscal rules requires full transparency, predictability, replicability and stability of these assessments; regrets that experts from the European Parliament were not included in the working group set up to explore possible methodological improvements described in the Commission’s Debt Sustainability Monitor 2023; expresses concerns that the DSA would not be able to project future debt developments with certainty; underlines that the usage of DSA still requires estimating unobservable variables, in particular potential GDP growth and output gap, thereby undermining transparency and hampering ownership and predictability, and thus leaving space for discretion; stresses that the result of a DSA may create self-fulfilling prophecies, by encouraging investors to buy/sell bonds of the respective Member States, thereby influencing outcomes;
Amendment 208 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Stresses that when defining fiscal strategies, Member States should aim to improve the quality and efficiency of expenditure and revenues measures, in particular by reducing tax avoidance and tax evasion; invites Member States to align their strategies with EU policy objectives, such as redirecting the tax burden from income to less distortive tax bases;
Amendment 279 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Underlines that housing is directly interconnected with the macroeconomy of the euro area, influencing and being influenced by the economic landscape; notes that housing accounts for a sizeable share of output of the euro area; stresses that according to Eurostat, EU households spent on average 19.7% of their disposable income on housing; recalls that housing market cycles impact fiscal health, influencing tax revenues and social expenditure; stresses that policies that support the stability of housing market also provide a contribution to economic resilience;
Amendment 281 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17 b. Stresses that unaffordable or unavailable housing not only has social consequences, but may represent a blockage for regional and intra-EU mobility, with damaging implication for economic dynamism and social progress;
Amendment 285 #
Motion for a resolution
Paragraph 17 c (new)
Paragraph 17 c (new)
17 c. Highlights that in metropolitan areas of some Member States house prices have attained levels that may be acting as a brake on their economies' abilities to attract workers, which can become an increasingly significant constraint to their growth model, with substantial impact on economic growth and thus on long term fiscal sustainability;
Amendment 287 #
Motion for a resolution
Paragraph 17 d (new)
Paragraph 17 d (new)
17 d. Regrets that in some Member States house prices growth is still very strong and is likely to increase further; is concerned that this price increase may become hard to curb in the absence of a holistic strategy that includes an adequate set of appropriate policy tools; stresses that the sole use of monetary policy measures could have a negative impact on economic growth;
Amendment 295 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Laments the fact thatNotes that also due to the COVID pandemic the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019- 2023);
Amendment 316 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Highlights the fact that implementing CSRs on strengthhow the pandemic crisis has shown that the reduction in health care spending the fiscal sustainability of public pension systems and the cost-effectiveness of health and long-term care systems in the face of ageing populations should remain a key objective for the Member Statecarried out in the past decades has ended up weakening health care systems and has increased the risk not only for human health but also for the economic resilience of Member States; underlines the need to make the necessary reforms and investments to ensure that health care systems are adequate to face demographic challenges and possible future pandemic risks;