Activities of Pervenche BERÈS related to 2014/2145(INI)
Plenary speeches (2)
Review of the economic governance framework: stocktaking and challenges (debate) FR
Review of the economic governance framework: stocktaking and challenges (debate) FR
Reports (1)
REPORT on the review of the economic governance framework: stocktaking and challenges PDF (242 KB) DOC (168 KB)
Amendments (89)
Amendment 1 #
Motion for a resolution
Citation 2 a (new)
Citation 2 a (new)
- having regard to the 24 February 2015 Eurogroup statement on Greece for a four-month loan extension,
Amendment 4 #
Draft opinion
Paragraph 1
Paragraph 1
1. Takes the view that it is absolutely vital for the democratic legitimacy of EMU to be improved substantially within the EU’s institutional framework and in line with the Community method; considers that the pieces of legislation based on intergovernmental treaties and implemented during the crisis have hampered the democratic legitimacy of the EMU and the European project;
Amendment 6 #
Motion for a resolution
Citation 14 a (new)
Citation 14 a (new)
- having regard to its resolution of 20 November 2012 on 'Towards a genuine EMU', the Commission Communication of 28 November 2012 entitled 'A blueprint for a deep and genuine economic and monetary union Launching a European Debate' and the Four Presidents' report of 5 December 2012 entitled 'Towards a genuine EMU',
Amendment 7 #
Motion for a resolution
Citation 14 a (new)
Citation 14 a (new)
- having regard to the Commission’s Sixth report on economic, social and territorial cohesion of 23 July 2014 (COM(2014)0473),
Amendment 7 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Advocates, in this sense, for the establishment of a less complex, more efficient and transparent economic governance, aiming, in the long term perspective, at a deeper integration of the EU, while offering medium-term solutions to enable the Euro Zone and the Union to face the current challenges.
Amendment 9 #
Draft opinion
Paragraph 2
Paragraph 2
2. Calls forIs convinced that strengthening the involvement of Parliament in the economic governance process is a prerequisite to increase democratic legitimacy and calls to explore the path of legislative and interinstitutional agreements to be concluded between the European Parliament, the Commissenable the European Parliament, among other things, to be more formally involved in the key stages of the European Semester, with regards notably to the Annual Growth Survey, to the Euro Zone Recommendation and to the Council providing for parliamentary validation of the various stages oftry Specific Recommendations in order to remedy the double democratic deficit that is aggravated by the Ecuropean Semester, starting with the Annual Growth Surveyrent governance framework, both at national and at European levels;
Amendment 14 #
Motion for a resolution
Citation 17 a (new)
Citation 17 a (new)
- having regard to the Commission's Winter 2015 European Economic Forecast of 5 February 2015,
Amendment 14 #
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Requests, in this regard, the adoption of the Annual Growth Survey under the codecision procedure; that the ESM is integrated into the EU legal framework and made formally accountable to the European Parliament, through the joint application of articles 352 and 136 of the TFEU; that the decision-making process within the Eurogroup operates in the interests of accountability and democratic legitimacy; and that, in the long term, the Commissioner for Economic Affairs chairs the Eurogroup;
Amendment 15 #
Motion for a resolution
Citation 17 b (new)
Citation 17 b (new)
- having regard to the analytical note 'Preparing for next steps on better economic governance in the Euro area' presented in the European Council on 12 February 2015,
Amendment 16 #
Motion for a resolution
Citation 18
Citation 18
Amendment 18 #
Draft opinion
Paragraph 3
Paragraph 3
3. Takes the view that the implementation of the economic dialogue needs to be scrupulously reviewed so as to ensure that there is proper parliamentary scrutiny at all stages of the procedure;
Amendment 21 #
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Believes that the elaboration of a new legal framework for future assistance programs should guarantee that all decisions are taken under the responsibility of the Commission with the full involvement of the European Parliament, in order to ensure full democratic legitimacy and accountability;
Amendment 28 #
Draft opinion
Paragraph 5
Paragraph 5
Amendment 34 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Recalls that a "Genuine Economic and Monetary Union" cannot be limited to a system of rules, but must be part of an ambitious political project, and that the necessary deepening of the EMU absolutely needs four interrelated conditions: a fiscal capacity, renewed assistance mechanisms, a social dimension, an institutional and democratic pillar;
Amendment 35 #
Draft opinion
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Takes the view that the Commission communication on making the best use of flexibility within the rules of the SGP is a positive first step, but urges the Commission to extend the application of the "investment clause" to the corrective arm of the SPG, making use of a similar methodology that grounded the application of the "investment clause" to the preventive arm of the SGP;
Amendment 36 #
Draft opinion
Paragraph 5 c (new)
Paragraph 5 c (new)
5c. Takes the view that the social dimension of the EMU must be fully taken into account, whereas according to the Article 9 of the TFEU the promotion of high employment and social protection have to be taken into account when defining and implementing the policies and the activities of the EU. Calls for an equal treatment between the social rights and the internal Market's freedoms in the hierarchy of norms;
Amendment 37 #
Draft opinion
Paragraph 6
Paragraph 6
Amendment 42 #
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Stresses that the European Parliament shall fully play its part in the upcoming discussions and decisions and requests the President of the Commission to submit - an ambitious 'roadmap" outlining the necessary legislative and institutional progress to create the best future possible for the Euro Zone, the EU and its citizens.
Amendment 92 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas since 2008 regional disparities in employment, unemployment and per capita GDP have increased considerably between and within the majority of Member States;
Amendment 93 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas the negative output gap for the euro area, as estimated by the Commission, reached 3% in 2013, the highest level since the peak of the crisis in 2009, and may decline only slowly in 2015;
Amendment 94 #
Motion for a resolution
Recital B b (new)
Recital B b (new)
Bb. whereas the euro area current account surplus has increased by nearly 3 percentage points since the pre-crisis years to reach 2.8% of GDP in 2014 according to the Commission's winter economic forecast, while the current account surplus of the EU as a whole is expected to reach 1.3% for 2014;
Amendment 95 #
Motion for a resolution
Recital B c (new)
Recital B c (new)
Bc. whereas, according to the Annual Growth Survey 2015, the aggregate fiscal stance in the euro area will be broadly neutral in 2014 and 2015;
Amendment 96 #
Motion for a resolution
Recital B d (new)
Recital B d (new)
Bd. whereas six euro area countries still were under Excessive Deficit Procedure (EDP) at the end of 2014 while other Member States had considerable fiscal space to encourage domestic demand;
Amendment 97 #
Motion for a resolution
Recital B e (new)
Recital B e (new)
Be. whereas sixteen Member States have a debt-to-GDP ratio above the 60% threshold;
Amendment 98 #
Motion for a resolution
Recital B f (new)
Recital B f (new)
Bf. whereas at the end of 2013, poverty and social exclusion concerned 122.6 million people (24.5%), rising in a large number of Member States and reaching a third of the population in 5 of them;
Amendment 99 #
Motion for a resolution
Recital B g (new)
Recital B g (new)
Bg. whereas, according to the Commission's winter forecast, the euro area average inflation rate will fall from 1.4% in 2013 to -0.1% in 2015, with significant risks of very low figures for the coming months and years;
Amendment 100 #
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. whereas in the Stability and Growth Pact Article 5 of Regulation 1466/97 it is stated that "the Council and the Commission shall also examine whether the stability programmes facilitate the achievement of sustained and real convergence within the euro area...";
Amendment 101 #
Motion for a resolution
Recital B b (new)
Recital B b (new)
Bb. Whereas, according to the AGS 2015, "unemployment reached 24.6 million people in August 2014 – 5 million are aged between 15 and 24. Long-term unemployment is very high. Unemployment rates strongly vary across Member States, from 5.1% in Germany and 5.3% in Austria to 24.8% in Spain and 26.8% in Greece in 2014.";
Amendment 108 #
Motion for a resolution
Recital C
Recital C
C. wWhereas investment in the euro area decreased by 17 % since the pre-crisis period and, according to the Commission’'s autumn forecast, investment in the euro area decreased by 3.4 % in 2012, by 2.4 % in 2013 and by 17 % since the pre-crisis periodwinter forecast by 3.4 % in 2012, by 2.4 % in 2013, with the expected rebound rate in 2014 (0.69 %) and that anticipated for 2015 (1.72.0 %) being very weak; whereas a lack of investment can be just as detrimental to future generations as excessive public debt;
Amendment 116 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas the adjustment period the euro area has been going through since 2010, including with the intervention of the troika, has led to stagnation and deflation;
Amendment 117 #
Motion for a resolution
Recital C b (new)
Recital C b (new)
Cb. whereas the public debt in the euro are has increased, more than the GDP, from 69.2% in 2008 to 92.1% of GDP in 2014 following the adjustment process;
Amendment 126 #
Motion for a resolution
Recital D
Recital D
D. whereas a European investment plan is being put in place to ramobilise EUR 315 billion in new investments over the next three years;
Amendment 130 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. Whereas the European Parliament has stated in its Report with recommendations to the Commission on the report of the Presidents of the European Council, the European Commission, the European Central Bank and the Eurogroup "Towards a genuine Economic and Monetary Union" (2012/2151(INI)) that "The ESM should evolve towards Community-method management and be made accountable to the European Parliament.";
Amendment 165 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Believes that in the current economic situation calls for urgent, comprehensive and decisive measures context there is a need for tools to address the risk of deflation or of lasting very low inflation, low growth and high unemployment; highlights that no specific provisions are foreseen in the current economic governance framework to take into face the threat of deflation or very low inflation, low growth and high unemploymentcount and address the risks stemming from the prolongation of a such a period whatever dimension it takes; believes that the prolongation of this situation or of a 'too little too late' answer would put at risk the existence of the euro itself;
Amendment 180 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Acknowledges that the evaluation of the 6 and 2 packs regulations and of the SGP cannot be isolated from the interlinked package of the economic governance, including the European Semester, the TFEU and the Fiscal Compact;
Amendment 181 #
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Considers that the assessment by the Commission of the implementation of the new economic governance framework including the 6 and 2 pack regulations gives a picture on the way the different tools and procedures have been used outside any global euro area economic perspectives;
Amendment 203 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Takes note of the debate launched on the 'neutrality' of the euro area's aggregate fiscal stance in a context when national economies cannot unilaterally adjust through the exchange rate, when the ECB is running out of conventional monetary policy instruments due to the zero lower bound, when much of the private sector is liquidity-constrained due to deleveraging, when some Member States have considerable fiscal room for manoeuvre and when the leverage and multiplier effects from public expenditure are recognised as favourable factors for stronger investment;
Amendment 204 #
Motion for a resolution
Paragraph 2 b (new)
Paragraph 2 b (new)
2b. Recalls that, according to a recent economic paper published by the Commission, simultaneous fiscal consolidations in euro area countries following the expansionary policies agreed by the G20 in the aftermath of the failure of Lehman brothers, had 'large negative output effects' and 'significant negative spillovers'; recalls that, according to the IMF, the effect of simultaneous fiscal policy contraction across Europe and the tightening of budgetary policies in 2012 has provoked a double-dip recession significantly underestimated until early 2013;
Amendment 231 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Observes that the Macroeconomic Imbalance Procedure settled in the 6 pack has not conducted to a European economic global approach but to fine- tune a bilateral approach between MS and the Commission on structural reforms and the design of Country Specific Recommendations;
Amendment 232 #
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Considers that the asymmetric approach to current account surpluses and deficits taken in Regulation (EU) No 1176/2011 and applied in the Macroeconomic Imbalances Procedure should be corrected in light of actual experience, while countries with current account deficits have undertaken significant adjustment over the past years, when countries with large current account surpluses have not done enough to strengthen their domestic demand and growth potential, resulting in a larger- than-forecast current account surplus for the Euro area as a whole, deflationary pressure, low growth and persistently high unemployment;
Amendment 233 #
Motion for a resolution
Paragraph 3 c (new)
Paragraph 3 c (new)
3c. Is concerned that convergence during the crisis years on reduced national budgetary deficits and improved current account positions has been accompanied by unprecedented divergence on many real economic indicators, including growth, unemployment, household income; highlights persistent divergence in nominal labour costs within the Euro area, which is due to long-standing wage moderation in some countries with high current account surpluses as well as to pre-crisis labour cost increases driven by massive capital inflows in a number of other Member States; highlights that such divergences weaken the Economic and Monetary Union and reduce the benefits of single monetary policy;
Amendment 234 #
Motion for a resolution
Paragraph 3 c (new)
Paragraph 3 c (new)
3c. Notes that the complex procedures of economic governance have failed to adequately take into account the cumulative, Europe-wide effect of policies pursued at national level, in particular of the aggregate fiscal stance and of the deflationary implications of certain measures;
Amendment 270 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Warns that the complexity and lack of transparency caused by the accumulation of procedures makes the economic governance framework complex and not transparent enough, which is detrimental to the ownership and acceptance by parliaments, social partners and citizens of guidelines, recommendations and reforms stemming from this framework, local and regional authorities and citizens;
Amendment 272 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Warns that the accumulation of procedures makes the economic governance framework complex and not transparent enough, which is detrimental to the ownership and acceptance by parliaments, social partners and citizens of guidelines, recommendations and reforms stemming from this framework; acknowledges that this complexity is, because of the incompleteness of the EMU, the product of the urgent multiple attempts to face the crisis by making the framework smarter by taking into account economic conditions while postponing the establishment of a genuine EMU;
Amendment 285 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Observes that the current timetable, content and format of the CSR lack ownership by Member States; stresses that, in general, appropriation mechanisms have to be upgraded;
Amendment 292 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Acknowledges that progress has been made with a debate on the Medium-Term Objective (MTO) and a better ownership of the national debate in euro area Member States, also thanks to the contribution of the national fiscal councils acting as independent bodies monitoring compliance with fiscal rules and macroeconomic forecast;
Amendment 316 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Considers that the consolidation bias of the current framework is detrimental to the financing of structural reforms and of overdue investment necessities, and can lead to contradictions in terms of policy recommendations when it comes to meeting EU 2020 targets; recalls that international institutions consider that, if not decisively addressed, the investment gap in Europe could lead to a prolonged period of anaemic growth and unacceptably high unemployment rates, leading to significant loss of competitiveness;
Amendment 405 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Believes that structural reforms should have a positive socioeconomic return including an impact on long term competitiveness, convergence and contribute to increased administrative capacity;
Amendment 438 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Stresses that the calendar for the adoption of the Commission's opinions on Draft Budgetary Plans in application of the 2 pack 'regulation on common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area' does not allow for taking into account the first notification by Eurostat of the current year's budgetary figures;
Amendment 452 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Invites the Commission and the Council to better articulate the fiscal and macroeconomic frameworks, notably in the corrective arm of the SGP, to allow for earlier and more consistent debate among stakeholders, taking into account the need to increase convergence between euro area Member States and the role of national parliaments and social partners regarding the design and implementation of structural reforms;
Amendment 467 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Insists that the Annual Growth Survey (AGS) and euro area recommendationthe overall assessment of the budgetary situation and prospects in the euro area as a whole foreseen in R473/2013 (article 7.4) must be better designed and put to better use to allow for a global economic debate, notably as regards convergence in the euro area; proposesuggests that the country-specific recommendations (CSRs) should be established on the basis of striking a better balance between the AGS and the macroeconomic imbalance procedure (MIP), and suggests that the euro area recommendationoverall assessment of the euro area should be made compulsory following a proper debate with the European Parliament, and issued in order to be adopted during the Spring Council, with incentives being offered so as to encourage the implementation thereof; requests that the excessive deficit procedure (EDP) recommendation be joined together with the CSRs;
Amendment 477 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Suggests that, in connection with the Macro-economic Imbalances Procedure, use should be made of additional indicators relating to regional disparities;
Amendment 478 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16a. Proposes that the Country-Specific Recommendations (CSRs) should be established on the basis of striking a better balance between the Annual Growth Survey (AGS) and the macroeconomic imbalance procedure (MIP); requests that the Excessive Deficit Procedure (EDP) recommendation be joined together with the CSRs so as to combine surveillance of the fiscal position and economic policy coordination;
Amendment 490 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Asks the Commission to verify whether the current 1/20 rule on debt reduction is sustainable and whether it needs torealistic in correlation with the nominal growth rate and deficit reduction beyond what is foreseen in the new matrix included for the preventive arm of the Pact in the communication on flexibility, with regard ownership of Members States, and whether the doctrine on its practical implementation in times where inflation is far from the ECB target should be reconsidered;
Amendment 495 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Recalls that a decrease in public spending to increase the primary budget balance and reduce public debt contributes to slower growth because of fiscal multiplier and to reducing inflation;
Amendment 496 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17b. Requests from the Commission that it would re-examine R472 (2013) to draw all the needed lessons from the troika and its last developments;
Amendment 518 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18a. Asks the Commission to present in the AGS different macroeconomic scenarios based on upside and downside risks in the forecast, therefore allowing for some flexibility in the guidance it provides;
Amendment 519 #
Motion for a resolution
Paragraph 18 b (new)
Paragraph 18 b (new)
18b. Calls on the Commission, when drafting the AGS, to draw upon a wide range of scientific expertise to the greatest extent possible and to integrate recommendations of the European Parliament, Member States and local & regional governments;
Amendment 520 #
Motion for a resolution
Paragraph 18 c (new)
Paragraph 18 c (new)
18c. Calls on the Commission to identify explicitly in the AGS potential cross- border spillover effects of major economic policy measures implemented at the EU level as well as in Member States;
Amendment 530 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Believes that national fiscal councils could play a useful role at EU level; requestencourages the set-up of a European network allowing for an independent analysis of the economic perspective to be established as a basis for a proper political discussion among stakeholdersoverall macroeconomic policy-mix in the euro area and its break- down country by country, as a complementary basis for the debate and for the determination of existence of 'exceptional circumstances' ;
Amendment 548 #
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Asks the Commission to propose specific policy measures, instruments and procedural steps to improve the 'very asymmetric nature of the rebalancing thus far, with weak domestic demand in creditor countries sustaining persistently large current account surpluses' (MIP AMR November 2014, p.2);
Amendment 549 #
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20b. Observes that, in the euro area, the crisis has revealed that, without major macroeconomic tools at national level (exchange rate, monetary policy, more or less fiscal policy), internal devaluation could be the only solution and that it deserves being compensated at the eurozone level;
Amendment 585 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Insists that the focus on structural deficits since the 2005 reform of the SGP, together with the introduction of an expenditure rule with the 2011 reform, creates uncertainty, complexity and margins for the discretionary implementation of the SGP, as the calculation of potential growth, underpinning the assessment of structural deficits, and that of the expenditure rule are subject to several questionable assumptions and substantial revisions between the Commission’s autumn and spring forecasts, thereby leading to various calculations and diverging assessments as regards the implementation of the SGP;
Amendment 588 #
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Observes that the calculation of the structural deficit or the structural budget balance is subject to significant time lags and undermined by large definition and measurement controversies;
Amendment 589 #
Motion for a resolution
Paragraph 24 b (new)
Paragraph 24 b (new)
24b. Takes note of the fact that the Commission communication on flexibility insists on the role of the output gap;
Amendment 613 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Believes there is a strong need for less complexity, better ownership, more transparency and democracy in economic governance; believes that looking forward towards deeper integration cannot be achieved by adding a new layer of rules to the already existing ones and that improvement can only originate from institutions subject to democratic accountability;
Amendment 629 #
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27a. Deplores that the EP does not legally and concretely provide more input in the key moments of the European Semester, notably regarding the AGS, the overall assessment of the budgetary situation and prospects in the euro area and the CSRs; against this background, stresses that there is an increasing sense of a double democratic deficit in the economic governance framework of the Union, both at the EU and at the national levels;
Amendment 630 #
Motion for a resolution
Paragraph 27 b (new)
Paragraph 27 b (new)
27b. Stresses, therefore, that a stronger involvement of the European Parliament in economic governance processes is a condition sine qua non for increased democratic legitimacy of the governance framework and to favour a debate on the macroeconomic situation of the EU;
Amendment 637 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Calls for the aAGS to be renamed Annual sSustainable gGrowth gGuidelines and to be made subject to a codecision procedure that should be introduced in the next Treaty change; instructs its President to present the annual sustainable growth guidelines as amended by Parliament at the spring European Council;
Amendment 660 #
Motion for a resolution
Paragraph 31
Paragraph 31
31. Calls for a new legal framework for future assistance programmes in order to ensure that all decisions are taken under the responsibility of the Commission with full involvement of Parliament to ensure more democratic accountability; believes there should be a logic between the nature of the stability mechanism used and the institution in charge of its mobilisation;
Amendment 688 #
Motion for a resolution
Paragraph 33
Paragraph 33
33. Requests that a reassessment of the Eurogroup’s decision-making process be conducted so as to provide for appropriate democratic accountability and output legitimacy; believes that in the long termforeseeable future the Commissioner for Economic Affairs should assume the role of President of the Eurogroup;
Amendment 691 #
Motion for a resolution
Paragraph 33 a (new)
Paragraph 33 a (new)
33a. Recalls that the parliamentary input on economic policy guidelines is the cornerstone of any democratic system;
Amendment 692 #
Motion for a resolution
Paragraph 33 b (new)
Paragraph 33 b (new)
33b. Regrets, therefore, that the much- increased complexity of the current governance framework further weakens democratic accountability;
Amendment 702 #
Motion for a resolution
Paragraph 34
Paragraph 34
34. Recalls that a ‘genuine Economic and Monetary Union’ (EMU) cannot simply be limited to a system of rules but also requires an increased euro area fiscal capacity with European parliamentary control and a deep economic policy coordination; believes that, as much as at national level, structural reforms are needed at the EU level;
Amendment 717 #
Motion for a resolution
Paragraph 35
Paragraph 35
35. Recalls that the banking union was the result of the political will to avoid a financial crisis and that the same will is needed as regards a fiscal union in order to avoid a political crisisenable balanced economic growth, make the EMU more resilient and avoid a political crisis; highlights the short- sightedness of continuing to rely merely on private risk-sharing as a way to ensure stability and prosperity in monetary union;
Amendment 725 #
Motion for a resolution
Paragraph 36
Paragraph 36
36. Asks the Commission to come forward with an ambitious roadmap which takes into account the need for economic governance reforms and completion of the EMU, as outlined in this report, and which should be presented to Parliament by the end of May 2015, ahead of the June European Council;
Amendment 731 #
Motion for a resolution
Paragraph 36 a (new)
Paragraph 36 a (new)
36a. Takes note of the new mandate given by the euro area summit, confirmed by the European Council to relaunch the debate, after the 2012 'Towards a genuine economic and monetary union' report had been shelved, with the mandate to 'develop concrete mechanisms for stronger economic policy coordination, convergence and solidarity' and 'to prepare next steps on better economic governance in the euro area';
Amendment 732 #
Motion for a resolution
Paragraph 36 b (new)
Paragraph 36 b (new)
36b. Considers that the analytical note 'Preparing for next steps on better economic governance in the euro area' presented by Jean-Claude Juncker, on behalf of the four presidents, at the European Council of 12 February, is surprisingly less forward looking than the most recent work on deepening the EMU, notably the recommendations laid out in 2012 in the four presidents report, in the Commission blueprint and in the EP resolution 'Towards a genuine Economic and Monetary Union'; considers that the eleven questions presented in this analytical note, that have not been discussed, may not be considered as the basis of the June's 4+1 presidents' report; asks the Commission to present proposals in line with the recent proposals on EMU endorsed by the Council and the EP;
Amendment 733 #
Motion for a resolution
Paragraph 36 c (new)
Paragraph 36 c (new)
36c. Believes that the analytical note is almost silent regarding the challenges of macroeconomic imbalances, multipliers or spill over effects that were already identified as critical ones by the Commission Communication of 7 May 2008 on 'EMU@10: successes and challenges after 10 years of Economic and Monetary Union'; considers that the analytical notes is an inadequate presentation of the past economic policy approach since 2010 when the switch to austerity provoked a new recession and a decupling from the United States and of the nature of structural reform with a positive social-economic return; regrets that convergence is almost overlooked by the analytical note whereas it was clearly in the mandate given by the European Council and should be at the heart of any initiative to be taken to build a genuine EMU;
Amendment 734 #
Motion for a resolution
Paragraph 36 d (new)
Paragraph 36 d (new)
36d. Observes that the analytical note is silent on the reasons for the lack of investment in the EMU, the very low inflation, the potential deflationary effect of structural reforms, the taxation and workers' portability rights that is complementary to the functioning of the single market, and the social dimension;
Amendment 735 #
Motion for a resolution
Paragraph 36 e (new)
Paragraph 36 e (new)
36e. Request that the president of the Commission debates in May during the plenary of the European parliament the 4+1 presidents' report, ahead of the June European council;
Amendment 744 #
Motion for a resolution
Paragraph 37 – introductory part
Paragraph 37 – introductory part
37. Invites the stakeholders in this necessary next step of the EMU to avoid left-over, to take into account foreseeable future enlargement of the euro area and to explore all options which have been well discussed and documented over a long period of time as ways of achieving a deepening of the EMUfor a genuine EMU conductive to growth, jobs and stability, such as:
Amendment 752 #
Motion for a resolution
Paragraph 37 – indent 1
Paragraph 37 – indent 1
– a ‘taxation union’, including a reflexion on own resources for the EMU, possibly deriving from new fiscal bases;
Amendment 767 #
Motion for a resolution
Paragraph 37 – indent 2
Paragraph 37 – indent 2
– a social dimension, including a minimum wage corridor mechanism and, a minimum unemployment benefit scheme for the euro area and in-depth reforms to favour mobilityfair and voluntary mobility with increased right's portability taking into account of the demographic challenges,
Amendment 797 #
Motion for a resolution
Paragraph 37 – indent 4
Paragraph 37 – indent 4
– a euro area fiscal capacity notably to finance counter cyclical actions, structural reforms or part of debt reduction without jeopardising the needed national ownership notably on structural reforms;
Amendment 802 #
Motion for a resolution
Paragraph 37 – indent 4 a (new)
Paragraph 37 – indent 4 a (new)
- a euro area mechanism to allow debt reduction without hampering growth prospects;
Amendment 804 #
Motion for a resolution
Paragraph 37 – indent 4 b (new)
Paragraph 37 – indent 4 b (new)
- an increased external role of the euro area, including the upgrading of its representation;
Amendment 805 #
Motion for a resolution
Paragraph 37 a (new)
Paragraph 37 a (new)
37 a. Welcomes the leading role played by the President of the European Commission in this upcoming task;
Amendment 820 #
Motion for a resolution
Paragraph 40
Paragraph 40
40. Instructs its President to forward this resolution to the presidents of the Council and, the Commission, the Eurogroup and the ECB, national parliaments.