Activities of Pervenche BERÈS related to 2008/2156(INI)
Plenary speeches (2)
EMU10: The first 10 years of Economic and Monetary Union and future challenges (debate)
EMU10: The first 10 years of Economic and Monetary Union and future challenges (debate)
Reports (1)
REPORT Report on the EMU@10: The first ten years of Economic and Monetary Union and future challenges PDF (268 KB) DOC (167 KB)
Amendments (19)
Amendment 2 #
Motion for a resolution
Recital C
Recital C
C. whereas the euro area is set to expand further as most Member States currently outside the euro area are preparing to join at some point in the future and Slovakia is the next in linewill join the euro area on 1 January 2009,
Amendment 8 #
Motion for a resolution
Recital F
Recital F
F. whereas the average inflation during the first ten years of the euro area was broadly in line with the ECB´s objective of price stability of close to, but below, 2 %; whereas inflation has recently risen well above this level due to global structural changes, in particular regarding the increases in energy and food prices, as well as the lack of vigilance by a number of central banks outside the EU,
Amendment 12 #
Motion for a resolution
Recital G
Recital G
G. whereas the global economic environment has been favourable to job creation during the first 10 years of the euro, with the creation of nearly 16 million jobs - disregarding the quality of the jobs created - and the unemployment rate falling from 9 % in 1999 to an estimated 7 %,3 % or more in 2008,
Amendment 22 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the fact that the euro has brought stability and fostered economic integration in the euro area, even if; welcomes the stabilising effects of the euro on the world currency markets especially in times of crisis; notes that internal economic divergences have not yet diminished enoughas expected and productivity has not developed satisfactorily in all parts of the euro area;
Amendment 23 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Notes with satisfaction that the creation of further monetary unions are being considered in other parts of the world;
Amendment 35 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses the need for mutual reinforcement of stability and growth- oriented macro-economic policies by making demand-side policy and investment a matter of common concern: the need to follow closely public balances through the composition and level of taxes and expenditures and their impact on the demand side and in parallel agree on common approaches regarding wage policy;
Amendment 62 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Notes that the regular reports of the ECB to Parliament, in particular to its Committee on Economic and Monetary Affairs, contribute to the transparency of monetary policy and welcomes the possibility for Members of the European Parliament to put written questions to the ECB on monetary policy, thus improving the accountability of the ECB vis-à-vis the citizens of the Union; supports the demand for a stronger public debate on the future common monetary and currency policies in the euro area as part of the convergence process;
Amendment 65 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Considers that the monetary policy dialogue between Parliament and the ECB has been a success, and one which should be built on further; expects an improvement of the monetary dialogue on several points, such as coordinating the dates for the regular hearings of the ECB President with the ECB’s calendar for monetary policy decisions so as to improve the debateanalysis onf them and decisions, whilst still having the possibility to invite ECB President for discussing topical issues when necessary;
Amendment 81 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Stresses the need for a strengthened international monetary dialogue between the ECB and other main central banks and institutions, and, in particular, with the US Federal Reserve and, the People's Bank of China; calls on the ECB to report back to Parliament on this international monetary dialogueBank of Japan, and the People's Bank of China;
Amendment 92 #
Motion for a resolution
Paragraph 32
Paragraph 32
32. Stresses the fact that accession to the euro area requires full adherence to the Maastricht criteria, as specified in the Treaty and the Protocol to Article 121 of the Treaty, namely: a high degree of price stmeasured price stability as well as its sustainability, public finances without excessive deficit, membership in the ERM II for at least two years, observation of the normal fluctuation margins, adjustment of the long-term interest rates, compatibility of the legal rules with the Maastricht Treaty, an independent central bank and sustainable convergence;
Amendment 93 #
Motion for a resolution
Paragraph 32 a (new)
Paragraph 32 a (new)
32a. Is of the opinion, that one of the most challenging aspects of joining the euro- area is to ensure the sustainability of the Maastricht criteria; underlines, however, that, at the same time, the Maastricht criteria are also a first step on the way to keeping reform processes on track, including further commitments and efforts regarding structural reforms, investment and economic coordination;
Amendment 94 #
Motion for a resolution
Paragraph 33
Paragraph 33
33. Welcomes the stronger supervision of Member States participating in ERM II and wishing to join the euro area , as well as their economic development; notes that the successful participation in the ERM II must remain a major precondition and not only a secondary requirement for membership of the euro area; is of the opinion that a high degree of real convergence is a precondition for adoption of the euro and therefore that no 'accession discounts' can be given; deems it worth considering the measurement of the inflation criteria at the EMU average or the ECB inflation goal of 2 %;
Amendment 99 #
Motion for a resolution
Paragraph 35 a (new)
Paragraph 35 a (new)
35a. Considers that the single currency remains a communication priority for the European Union; believes that the benefits of the euro and of the EMU - price stability, low mortgage rates, easier travel, protection against exchange rate fluctuations and external shocks - must continue to be sold and explained to the public at length; believes that particular emphasis should be placed on informing and keeping up to date European citizens, consumers and small and medium-sized enterprises (SMEs), which do not have sufficient capacity to adjust immediately to new developments and challenges for the euro;
Amendment 100 #
Motion for a resolution
Paragraph 35 b (new)
Paragraph 35 b (new)
35b. Calls on the ECB, be it in its annual report or in a special report, to undertake a yearly quantitative analysis of the benefits that the euro has brought to ordinary citizens, with concrete examples of how the use of the euro has had positive effects on people’s daily lives;
Amendment 101 #
Motion for a resolution
Paragraph 36 a (new)
Paragraph 36 a (new)
Amendment 106 #
Motion for a resolution
Paragraph 38
Paragraph 38
38. Points out that the important role of the euro in international financial markets brings with it an obligation, and thus the effects of monetary ands well as growth policy in the euro area have extensivea global impact; emphasises the increased importance of the euro for international trade and services as a stabiliser in the global environment, as an engine for financial market integration and as a basis for increasing direct investments and cross- border company mergers, as transaction costs could be substantially reduced; calls for a study on global imbalances and the role of the euro and possible adjustment scenarios to better prepare Europe for tackling major external shocks ;
Amendment 108 #
Motion for a resolution
Paragraph 39
Paragraph 39
39. DemandSuggests stronger forward-looking cooperation and an improvenhanced international financial and monetary dialogue between the three most important central banks and 'currency blocks', i.e. between the euro area, the US dollar and the yen, to manageimprove the management of international crises, and recalls the common successful crisis management during the recent US 'sub- prime credit crisis' as well as the crisis in the immediate aftermath of the events of 11 September 2001, which helped to prevent an instant melt-down of the US dollar;
Amendment 110 #
Motion for a resolution
Paragraph 40
Paragraph 40
40. Supports the intention of the Commission to strengthen the influence of the EMU in international financial institutions with a common EU position represented by selected representatives, such as the president of the Eurogroup, the Commission and the president of the ECB; notes that previous practice already permits them to participate as observer in the most important international financial institutions; demands, however, a better coordination of European positions in order for the common European monetary policy to be represented by its legitimate representatives in future; expects that a euro area position on the exchange rate policies of its main partners can be expressed; calls on the president of the Eurogroup to represent the euro area at the Financial Stability Forum.; suggests that the IMF statutes be amended to allow the representation of economic blocks and organisations;
Amendment 123 #
Motion for a resolution
Paragraph 41 – point i
Paragraph 41 – point i
(i) In case of economic downturns the ex ante coordination of fiscal policyEconomic coordination should take the form of an integrated "European Economic and Employment Strategy" on the basis of the existing economic policy instruments - in particular the Lisbon Strategy, the Integrated Policy Guidelines, the Sustainable Development Strategy, and the Convergence and Stability Programmes; Calls upon national governments, under the leadership of the president of the Eurogroup, to support economic activity in a joint way, at the same moment and in the same direction;