Activities of Mojca KLEVA KEKUŠ related to 2013/2175(INI)
Shadow opinions (1)
OPINION on long-term financing of the European economy
Amendments (16)
Amendment 1 #
Draft opinion
Paragraph 1
Paragraph 1
1. Underscores the importance of long- term capital funding as a prerequisite for the effectiveness of EU regional policy; emphasises the role of both the Structural and the Investment Funds in the long-term promotion of growth and employment, given that the availability of lending for investment in the economy varies greatly from region to region;
Amendment 4 #
Draft opinion
Paragraph 2
Paragraph 2
2. Welcomes the Commission’s suggestion that the availability of investment capital should be made less dependent on traditional commercial bank lending, which has provedn too vulnerable to crisesbe crisis prone;
Amendment 5 #
Draft opinion
Paragraph 3
Paragraph 3
3. Draws attention to the situation in many Member States where commercial banks continue to attach unduly tough conditions to investment financing for the households and the economy, and especially for SMEs;
Amendment 13 #
Draft opinion
Paragraph 4
Paragraph 4
4. Highlights the role played by decentralised regional financial institutions which have continued, even during the crisis in the financial markets, to offer reliable funding to regional and local economies, and stresses that local and regional bodies of this kind, some of them structured along cooperative lines, should be retained and expandedstrengthened; points out, in addition, at the importance of microcredit opportunities and availability of alternative financing for micro, small and medium enterprises, which should be put at the forefront of crisis recovery strategies and long term goals of the EU;
Amendment 14 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Points out that the use of financial instruments in cohesion policy especially in relation to the SMEs should be reinforced in the future as it can guarantee revolving funds, foster public- private partnerships and achieve a multiplier effect with the EU budget;
Amendment 16 #
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses at the same time that direct, non-repayable subsidies must also continue to be available wherever possible, thus giving local authorities and regions a choice as to the most suitable instrument or mix of instruments to meet their particular needs; takes the view that the criteria to be met in the case of tailored solutions should not be more stringent than those for standard sources of EU funding;
Amendment 17 #
Draft opinion
Paragraph 7
Paragraph 7
7. Calls for use of the financing instruments to be subject to thorough reporting and transparency, monitoring and auditing processes without, however, cancelling out the central advantage of revolving funding through the imposition of new and additional requirements; highlights in this regard the specific nature of financial instruments in cohesion policy, which are generally financing projects in less developed regions and regions with economic difficulties, with the aim of improving situations of market failure and sub-optimal investment, thus they do not only focus on short-term profitability but also on high socio-economic benefits;
Amendment 18 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that long-term investments provide the basis for continuous and sustainable economic growth and social well-being necessary to achieve a competitive, sustainable and socially inclusive EU;
Amendment 18 #
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Calls on the Commission to strengthen the communication and relationship with the EIB in relation to the design of tailored loans and guarantee schemes; encourages the EIB to work closely with the Member States and regions on their implementation of new innovative financial instruments from European Structural and Investment funds and to continue their investment strategy targeted at social economy sector; additionally, invites the EIB to also consider the option of greater flexibility when defining the size and rules of such tailored loans and other related schemes so as to be the most compatible with financial instruments offered through European Structural and Investment Funds, especially when it comes to appropriate financing for young entrepreneurs and social enterprises;
Amendment 19 #
Draft opinion
Paragraph 8
Paragraph 8
8. Calls for greater account to be taken, when legislating for and regulating the financial markets, of the specific nature of local and regional authorities and their dual role, and; notes in this regard that municipalities and regions can be both long-term investors on the financial markets and at the same time be targets of investment.
Amendment 58 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Emphasizes the strengthened role of new innovative financial instruments within all fields of activity and all funds covered by the European Structural and Investment Funds; stresses that the role of financial instruments within the Cohesion Policy is growing in importance given the poor availability of lending for investment in the real economy; calls on the Commission to guarantee legal clarity and transparency of the new off-the-shelf financial instruments and establish firmer links with the EIB lending options;
Amendment 65 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Believes that national or multilateral development banks canlong-term public investors (national, regional or multilateral development banks and public financial institutions) are strong tools to stimulate private investments and catalyse long-term financing for undertakings of broader public interest and to support access of SMEs to capital markets;
Amendment 73 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls on the Member States to create appropriate networks for cooperation and information exchange, and to set up national or regional development banklong-term public investors which can learn from the best practice of already established institutions; highlights in this regard that such national or regional development banks, which are often structured along cooperative lines, have during the current crisis, continued offering reliable funding to regional and local economies; calls on the Commission and the Member States to strengthen their support to the financial institutions of these type;
Amendment 74 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls on the Member States to create appropriate networks for cooperation and information exchange, and to set up national or regional development banks which can learn from the best practice of already established institutions; highlights in this regard that such national or regional development banks, which are often structured along cooperative lines, have during the current crisis, continued offering reliable funding to regional and local economies; calls on the Commission and the Member States to strengthen their support to the financial institutions of these type;
Amendment 76 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls on the Commission to explore ways to support Member States requiring financial and technical assistance to set up their national development banklong-term national and regional public investors, and to study the possibility of an EU guarantee mechanism for national development banklong-term national public investors;
Amendment 132 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Believes that sound fair value accounting principles for institutional investors can enhance the transparency and consistency of financial information; stresses that those principles should avoid creating incentives for pro-cyclical strategies; believes that disclosure of clear and standardized non-financial information of large companies can increase transparency and foster more investor-friendly climate;