92 Amendments of Thomas BAJADA related to 2024/2112(INI)
Amendment 1 #
Motion for a resolution
Citation 5 a (new)
Citation 5 a (new)
– having regard to the Paris Agreement adopted in the context of the United Nations Framework Convention on Climate Change and the Sustainable Development Goals,
Amendment 2 #
Motion for a resolution
Citation 5 b (new)
Citation 5 b (new)
– having regard to the Interinstitutional Proclamation on the European Pillar of Social Rights of 13 December 2017,
Amendment 3 #
Motion for a resolution
Citation 7 a (new)
Citation 7 a (new)
– having regard to Regulation (EU, Euratom) 2020/2092 of the European Parliament and of the Council of 16 December 2020 on a general regime of conditionality for the protection of the Union budget (Rule of Law Conditionality Regulation),
Amendment 4 #
Motion for a resolution
Citation 13 a (new)
Citation 13 a (new)
– having regard to Regulation (EU) 2021/241 of the European Parliament and of the Council of 12 February 2021 establishing the Recovery and Resilience Facility (RRF Regulation),
Amendment 5 #
Motion for a resolution
Citation 13 b (new)
Citation 13 b (new)
– having regard to the Commission communication of 4 March 2021 entitled 'The European Pillar of Social Rights Action Plan' (COM(2021)0102),
Amendment 6 #
Motion for a resolution
Citation 13 c (new)
Citation 13 c (new)
– having regard to the Porto Social Commitment of 7 May 2021 of the Council, the Commission, Parliament and social partners,
Amendment 7 #
Motion for a resolution
Citation 13 d (new)
Citation 13 d (new)
– having regard to the La Hulpe Declaration on the future of the European Pillar of Social Rights of 16 April 2024,
Amendment 8 #
Motion for a resolution
Citation 13 e (new)
Citation 13 e (new)
– having regard to its resolution of 21 January 2021 on access to decent and affordable housing for all,
Amendment 9 #
Motion for a resolution
Citation 13 f (new)
Citation 13 f (new)
– having regard to the Political guidelines for the next European Commission 2024−2029 by Ursula von der Leyen, Candidate for the European Commission President, of 18 July 2024,
Amendment 10 #
Motion for a resolution
Citation 16 b (new)
Citation 16 b (new)
– having regard to the Commission communication of 17 December 2024 entitled ‘Alert Mechanism Report 2025’ (COM(2024)702) and to the Commission recommendation of 17 December 2024 for a Council recommendation on the economic policy of the euro area (COM(2024)704),
Amendment 11 #
Motion for a resolution
Citation 16 c (new)
Citation 16 c (new)
– having regard to the proposal for a Joint Employment Report of the Commission and the Council of 17 December 2024 (COM(2024)701),
Amendment 15 #
Motion for a resolution
Citation 19
Citation 19
Amendment 16 #
Motion for a resolution
Citation 20
Citation 20
Amendment 17 #
Motion for a resolution
Citation 21
Citation 21
Amendment 18 #
Motion for a resolution
Citation 22
Citation 22
Amendment 19 #
Motion for a resolution
Citation 23
Citation 23
Amendment 20 #
Motion for a resolution
Citation 24
Citation 24
Amendment 21 #
Motion for a resolution
Citation 25
Citation 25
Amendment 22 #
Motion for a resolution
Citation 26
Citation 26
Amendment 24 #
Motion for a resolution
Citation 27 a (new)
Citation 27 a (new)
– having regard to the Monetary Dialogue paper by Zsolt Darvas, Pablo Hernandez De Cos & Jeromin Zettelmeyer of November 2024 entitled ‘The new economic governance framework: implications for monetary policy’,
Amendment 28 #
Motion for a resolution
Citation 29 a (new)
Citation 29 a (new)
– having regard to Mario Draghi’s report of 9 September 2024 entitled ‘The future of European Competitiveness’ (‘Draghi Report’),
Amendment 29 #
Motion for a resolution
Citation 31 a (new)
Citation 31 a (new)
– having regard to the Opinion of the Employment Committee and the Social Protection Committee on the Future policy priorities for the Union on the European Pillar of Social Rights, as endorsed by the EPSCO Council at its session on 11 March 2024,
Amendment 30 #
Motion for a resolution
Citation 31 b (new)
Citation 31 b (new)
– having regard to the note from the General Secretariat of the Council of 4 March 2024 entitled ‘Social reforms and investments for resilient economies – Investing in people to boost productivity and growth prospects’ for the EPSCO- ECOFIN Council of 12 March 2024,
Amendment 37 #
Motion for a resolution
Recital A
Recital A
A. whereas the European Semester plays an essential role in coordinating economic and, budgetary, employment and social policies in the Member States, and thus preserves the macroeconomic stability of the Economic and Monetary Union;
Amendment 42 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas the 2024 European Semester marks the first implementation cycle of the new economic governance framework, which came into force on 30 April 2024, guiding the EU and its Member States through a transitional phase;
Amendment 44 #
Motion for a resolution
Recital A b (new)
Recital A b (new)
A b. whereas the main objectives of the new economic governance framework are to strengthen Member States' debt sustainability and promote sustainable and inclusive growth in all Member States through growth-enhancing reforms and investments in the common priorities of the Union, that include securing the green and digital transitions, strengthening economic and social resilience, including the European Pillar of Social Rights, productivity and competitiveness, as well as bolstering Europe's security capacity;
Amendment 47 #
Motion for a resolution
Recital A c (new)
Recital A c (new)
A c. whereas the Council Recommendation on the economic policy of the Euro area underlines the need to take further steps in deepening the economic and monetary union while considering lessons learnt from the design and implementation of the Union’s comprehensive economic policy response to the COVID-19 crisis;
Amendment 48 #
Motion for a resolution
Recital A d (new)
Recital A d (new)
A d. whereas EU funding has proven to be a vital instrument for ensuring macroeconomic stabilization at the EU level in the face of multiple crises since 2019, enhancing internal and external resilience, and supporting Member States in financing essential investments within the Union;
Amendment 49 #
Motion for a resolution
Recital A e (new)
Recital A e (new)
A e. whereas the euro area will undergo a restrictive fiscal stance of around 0.5% of GDP in 2025 due to the implementation of the new fiscal rules, followed by a fiscal contraction until 2031 of 0.2% to 0.3% of GDP per year, resulting in a cumulative impact on output of 1.5% to 1.9% of GDP;
Amendment 56 #
Motion for a resolution
Recital C
Recital C
Amendment 58 #
Motion for a resolution
Recital D
Recital D
D. whereas excessive deficit procedures were opened, or kept open, for eight Member States in 2024; whereas some Member States were not subject to an excessive deficit procedure, despite having a deficit above 3 % of GDP in 2023 as decided by the Council and the Commission after a balanced assessment of all the relevant factors, inter alia the increase of government investment in defence to address the rising geopolitical tensions and security challenges and the corresponding need for Member States to build-up their capabilities;
Amendment 59 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas no procedure concerning macroeconomic imbalances has been opened by the Council since its establishment in 2011, despite the identification of macroeconomic imbalances considered serious in many Member States;
Amendment 60 #
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. whereas housing prices have risen by an average of 48% in the European Union between 2015 and 2023; that rental prices have risen by an average of 18% between 2010 and 2022 and that, on average, European citizens will have spent 19.7% of their disposable income on housing in 2023; whereas rental prices have risen by an average of 18% between 2010 and 2022 and that, on average, European citizens will have spent 19.7% of their disposable income on housing in 2023; whereas despite a recent moderation, house price growth remains high in 2023, after strong growth over 2020-22 and that house prices are estimated to remain overvalued in three quarters of EU countries, with over half displaying signs of overvaluations of over 10%;
Amendment 61 #
Motion for a resolution
Recital E
Recital E
Amendment 63 #
Motion for a resolution
Recital E a (new)
Recital E a (new)
E a. whereas Member States should put in place the necessary control and audit mechanisms to ensure respect for the rule of law and to protect the financial interests of the Union, in particular to prevent fraud, corruption and conflicts of interest and to ensure transparency; whereas it is important that Member States implement the relevant Country- Specific Recommendations to create favourable conditions in this regard;
Amendment 73 #
Motion for a resolution
Recital E b (new)
Recital E b (new)
E b. whereas the gap between the EU and the US in terms of the level of GDP in 2015 prices has gradually widened, from slightly more than 15% in 2002 to 30% in 2023 as underscored by the Draghi report;
Amendment 76 #
Motion for a resolution
Recital E c (new)
Recital E c (new)
E c. whereas to achieve our European objectives and strategic priorities, the European Union will need additional annual investments in the high triple-digit billions in the upcoming years, as underscored by the recent Draghi report;
Amendment 77 #
Motion for a resolution
Recital E d (new)
Recital E d (new)
E d. whereas the self-imposed goal by the new Commission is to be an “investment Commission” and unlock the financing needed for the green, digital and social transition;
Amendment 78 #
Motion for a resolution
Paragraph -1 (new)
Paragraph -1 (new)
-1. Recalls that the European Semester is the framework established to coordinate fiscal, economic, employment and social policies across the Union, in line with the Treaties, including the European Pillar of Social Rights, thus safeguarding its macroeconomic stability and social cohesion;
Amendment 79 #
Motion for a resolution
Paragraph -1 a (new)
Paragraph -1 a (new)
-1 a. Welcomes the new Commission's commitment to focus the coordination under the European Semester on the Union’s objectives of sustainable and inclusive growth and employment, keeping competitiveness, prosperity, sustainability and social fairness at its very core; moreover, welcomes its strong dedication to the European Green Deal, the further implementation of the European Pillar of Social Rights and the Social Convergence Framework, and the continued integration of the United Nations Sustainable Development Goals into the European Semester;
Amendment 82 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that increase productivity, including new Union instruments such as the Recovery and Resilience Facility (RRF) and the European Instrument for Temporary Support to Mitigate Unemployment Risks in an Emergency (SURE);
Amendment 85 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes that, in the last few years, the EU has, as a result of a coordinated policy response, demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, socially-conscious structural reforms and investments that increase productivity with the long-term goal of ensuring a shift in economic modelling that prioritises well- being and sustainability for future generations;
Amendment 94 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Believes that overcoming social, climate, competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;
Amendment 95 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Believes that relaunching growth and overcoming competitive and, geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challeng, economic, digital, climate and democratic challenges , the EU and the Member States must step up their efforts, in particular budgetary efforts, to accelerate innovation, education, training, decarbonisation and strengthen European competitiveness, particularly in the industrial field, strengthen security notably through investments in overall defence capabilities and reduce all its dependencies;
Amendment 105 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Recommends, in view of the European issues at stake, the transfer of expenditure to EU level in certain areas of action linked to European public goods; calls on the Commission and the Member States to ensure that there is a significant increase in public and private investment in order to finance the green, digital and social transitions as proclaimed in the Commission’s political guidelines for 2024-2029;
Amendment 106 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Appreciates the commitment by a number of Member States to increase their spending efficiency and investments in overall defence capabilities to match their needs in the context of rising threats and security challenges;
Amendment 109 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Highlights the fact that an innovative, decarbonised, consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single marketthe Union's competitiveness achieving climate neutrality by 2050, while preserving the integrity of the single market and social inclusion and ensuring the EU’s energy and defensive sovereignty;
Amendment 128 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the upside;
Amendment 134 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Notes that according to the Commission’s 2024 autumn economic forecast, job creation growth is expected to stabilise at more moderate rates in 2025 and 2026 (0.6% and 0.5% respectively); notes that the EU unemployment rate is expected to remain low and slightly decrease from 6.1 % in 2023 to 5.9 % in 2026; stresses that nominal wage growth is expected to increase from 4.9% in 2024 (4.3% in the euro area) to 3.5% in 2025 (3% in the euro area);
Amendment 137 #
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4 b. Regrets that in 2023, 94.6 million people (21.4 % of the population) were at risk of poverty or social exclusion in the EU; stresses that further efforts are needed to promote adequate wages and quality jobs as the risk of poverty remains only marginally lower than in 2019 and financial distress of workers remains high after increasing during the energy crisis, for both the lowest and the lower middle- income households;
Amendment 139 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. StressNotes that high debt levels undermine economic stability and the capacity to respond to crises; is concernednotices that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);
Amendment 140 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Stresses that high debt levels might undermine economic stability and, in certain scenarios, the capacity to respond to crises; isnotes, with a certain level of concerned, that the EU average public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);
Amendment 149 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Regrets the factNotices that eight Member States have excessive deficits and welcomesthat remedial action has been taken;
Amendment 150 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Regrets the factNotes that eight Member States have excessive deficits and welcomes remedial action that would not result in a negative socioeconomic impact ;
Amendment 155 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Notes that the European Commission has not been able to present the Annual Sustainable Growth Survey, the Alert Mechanism Report, the draft euro area recommendation and the draft Joint Employment Report at the same time; therefore, questions whether these elements are taken into account in the Commission's recommendations on medium-term fiscal and structural plans;
Amendment 171 #
Motion for a resolution
Subheading 2
Subheading 2
Revised EU economic governance framework and its effective enforcementsustainable implementation
Amendment 175 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Recalls that the reform aimsis intended to make the framework simpler, more transparent and effective, with greater national ownership and better enforcement; recalls, fur while differentiating among Member States based on their individual fiscal situations, in view of country-specific fiscal sustainability considerations; stresses thermefore, that it aims to s implementation mustr engthensure fiscal sustainability through gradual and tailor-made adjustments complemented by reforms and investments and to promote sustainable and inclusive growth, socio-economic convergence and countercyclical fiscal policies;
Amendment 178 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8 a. Acknowledges that the new fiscal rules provide greater flexibility and incentives linked to investments and reforms, with public investment anticipated to rise in 2025 across most Member States; stresses that this approach draws on lessons from the financial crisis to safeguard and strengthen investment amid multiple crises while promoting counter-cyclical policies; emphasizes, however, that the financial resources and contributions from national budgets differ among Member States; highlights the crucial role of EU funds and the RRF in enabling these investments, whereas the latter will terminate in the end of 2026;
Amendment 184 #
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8 b. Stresses the need for vigilance to ensure that the implementation of economic governance rules does not hamper Member States' ability to contribute to this investment effort; stresses in this regard that maintaining a high level of public investment is necessary in order to achieve the main objectives of the reform of the economic governance framework and addressing the current and future priorities of the Union; underlines, therefore, that this framework could be strengthened by a common investment instrument at Union level based on the lessons learned from the implementation of instruments such as the European instrument for temporary Support to mitigate Unemployment Risks in an Emergency (SURE) or Next Generation EU (NGEU);
Amendment 193 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Deplores the low level of enforcement of the fiscal rules framework in the past; sStresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorouson proper implementation;
Amendment 194 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Deplores the low level of enforcement of the fiscal rules framework in the past; sStresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implemenimplementation while taking into account the Member States startiong points and individual challenges;
Amendment 202 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Affirms that a renewed focus on medium-term net expenditure will requiremight imply comprehensive reforms of national budgetary planning procedures across the Member States;
Amendment 203 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Affirms that a renewed focus on medium-term net expenditure willmay require comprehensive reforms of national budgetary planning procedures across the Member States;
Amendment 209 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Calls, furthermore, on the Commission to take into account the concept of social investment in its analyses of the EU economic outlook; recalls indeed that social investment policies can have significant positive effects on economic growth, productivity and competitiveness, thus also supporting fiscal sustainability while fostering upward social convergence;
Amendment 212 #
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10 b. Emphasises the role of the European Parliament in the EU’s economic governance framework and advocates for an increased engagement of the European Parliament in the European Semester; stresses the need for all Member States to be treated equally; underlines that an increase in discretionary power for the Commission in the development process of the medium-term fiscal-structural plans must be accompanied by increased accountability and an increase in the flow of information towards the European Parliament; recognises that the Economic Dialogue as part of the European Semester lays a useful foundation of accountability;
Amendment 216 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. RegretNotes that not all Member States were able to submit their national medium- term fiscal-structural and draft budgetary plans on time; underlines that this constitutes a major setback for the effective implementation of the new rules and their credibility due to general elections and the formation of new governments ; reaffirms the importance of the timely submission of draft budgetary plans to translate commitments outlined in fiscal plans into concrete policies;
Amendment 217 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. RegretNotes that not all Member States were able to submit their national medium- term fiscal-structural and draft budgetary plans on time; underlines that this cdemonstiturates a major setback forlimitations of the agreed new rules, their effective implementation of the new rules, and their credibility; reaffirms the importance of thea timely submission of draft budgetary plans to translate commitments outlined in fiscal plans into concrete policies;
Amendment 226 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commissionreference trajectory put forward by the Commission to frame the dialogue with Member States, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviatpath1a that were assessed by the Commissions are justified on the basis of significant discrepand considered duly justified; welcomes the flexibility of the new framework that allows Member States to deviate from the medium-term government debt projection framework if these differencies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;are explained and duly justified in a transparent manner and based on sound economic arguments in the technical dialogue and in their national medium-term fiscal-structural plans; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States fulfill this criteria; calls on the Commission to prevent procyclical policies; _________________ 1a Adequate wording Art. 2(3) of REGULATION (EU) 2024/1263 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 29 April 2024 on the effective coordination of economic policies and on multilateral budgetary surveillance and repealing Council Regulation (EC) No 1466/97
Amendment 228 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the factnotes that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;
Amendment 235 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. LamentNotes the fact that only seven Member States have soughtreceived an opinion from their relevant independent fiscal institution; regrets that nine Member States did not meet their obligation to conduct political consultations with civil society, social partners, regional authorities and other relevant stakeholders prior to submitting their national plans; further lamenregrets the fact that several Member States have not involved their national parliaments in the approval process for the plans and have not reported whether the required consultations with national parliaments took place;
Amendment 238 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Observes that five Member States have requested an extension of the adjustment period; notes that the reforms and investments used to justify this extension rely heavily on reforms already approved under the Recovery and Resilience Facility; believes that some of, based on a set of investment and reform commitments that contribute to sustainable and inclusive growth, enhance resilience, support fiscal sustainability, and address the key challenges identified in the European Semester, particularly in the Country- Specific Recommendations and the Union's common priorities, and have been assessed as meeting the conditions outlined in the Regulation for such an extension; notes that these reforms do not sufficiently meet the requirement to demonstrate their contribution to potential GDP growthand investments used to justify this extension are underpinned and complemented by reforms approved under the Recovery and Resilience Facility;
Amendment 240 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Observes that five Member States have requested an extension of the adjustment period; notes that the reforms and investments used to justify this extension rely heavily on reforms already approved under the Recovery and Resilience Facility; believes that some oquestions if these reforms do not sufficiently meet the requirement to demonstrate their contribution to potential GDP growth as well as the well- being and sustainability of the relevant communities;
Amendment 246 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Regrets that these corrective measures do not systematically take into account the Commission’s recommendations for the euro area, leading some Member States to cut spending in key areas for boosting competitiveness, such as training and education;
Amendment 247 #
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14 b. Invites Member States to take account of social investment in their medium-term structural-fiscal plans and budgetary plans;
Amendment 248 #
Motion for a resolution
Subheading 4
Subheading 4
Fiscal stance and socio-economic challenges
Amendment 252 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growthHighlights the need to reduce the high levels of deficit and debt while maintaining an adequate level of investment to foster inclusive growth and prosperity;
Amendment 253 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area might continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth and taking into account the socioeconomic, sustainability and well-being needs of European society;
Amendment 258 #
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15 a. Recalls the Council's recommendation on the economic policy of the euro area of 17 December 2024 to take action in fighting poverty by safeguarding and strengthening sustainable social protection and inclusion systems, including access to affordable and sustainable housing; welcomes in this regard the Commission’s proposal for pan-European investment platform for affordable and sustainable housing to attract more private and public investment; as well as the Commission’s plan to revise the Union’s State aid rules to enable housing support measures, especially for affordable energy-efficient and social housing; calls on the Commission to take decisive and immediate action to effectively address the housing crisis in Europe, also in Country- Specific Recommendations;
Amendment 263 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, which is appropriate in light of the macroeconomic outlook and the need to continue to enhance fiscal sustainability and support the ongoing disinflationary processand a more restrictive fiscal stance in 2026 as the medium-term fiscal- structural Plans (MTFSPs) are implemented, resulting in a further dampening of economic activity at a time when increased investment is most crucial and economic uncertainty remains high;
Amendment 265 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, which is appropriate in light of the macroeconomic outlook and the need to continue to enhance fiscal sustainability and support the ongoing disinflationary process, while assuring an appropriate level of public and private investment;
Amendment 266 #
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Highlights in this regard that the Recovery and Resilience Facility (RRF) plays a pivotal role in boosting investment across the EU, as outlined in the 2024 Autumn Package, and mitigates contractionary effects by maintaining high levels of public and private investment while the Member States fiscal consolidation measures tighten public budgets; underlines that the RRF will expire by the end of 2026 and threaten a substantial decrease in public investment in our common European priorities; urges the self-proclaimed 'Investment Commission' to provide an answer how to tackle the huge demand for public investment even after the end of the RRF in 2026 and without cutting budgetary resources in other important areas;
Amendment 269 #
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16 b. Stresses that despite the EU's ambitious goals, the funding gap remains the critical weakness in its drive to prepare the Single Market for the future; acknowledges that despite a huge amount of investments has to come from the private sector, significant public funding is essential not only to stimulate private investment but also to strengthen Europe’s industrial base and competitiveness on a global scale;
Amendment 270 #
Motion for a resolution
Paragraph 16 c (new)
Paragraph 16 c (new)
16 c. Highlights that the President of the Commission identifies the impact of climate change, resulting in extreme weather events such as floods, fires and droughts, as one of the greatest risks to our security throughout the year and across our Union and concludes that the EU must step up work on climate resilience and preparedness;
Amendment 271 #
Motion for a resolution
Paragraph 16 d (new)
Paragraph 16 d (new)
16 d. Stresses that higher energy prices than international peers erode the cost competitiveness of several industries; calls for the development and implementation of a comprehensive Union-wide strategy to complement and bring together national strategies for effective electrification and the green transition, including via a sharp increase in the production of renewable energy and further cuts in the use of imported fossil fuels;
Amendment 276 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Considers that the rigorous application of the fiscal rules themselves is not a sufficient condition for achieving an optimal fiscal stance at all times; calls on the Commission and the Council to propose a mechanism that helps ensure that the cyclical position for the EU as a whole is at all times appropriate to the macroeconomic outlook;
Amendment 277 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Considers that the rigorous application of the fiscal rules themselves is not a sufficient condition for achieving neither an optimal fiscal stance at all times nor a high-level standard of living for European citizens; calls on the Commission and the Council to propose a mechanism that helps ensure that the cyclical position for the EU as a whole is at all times appropriate to the macroeconomic outlook;
Amendment 296 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Laments the factNotes that 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 297 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. LamentNotes the fact that 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 307 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Recalls the Member States’ obligation to address the relevant CSRs in both their economic and social dimensions as expressed under the European Semester in their national fiscal plans;
Amendment 315 #
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 319 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Highlights the fact that implementing CSRs on strengthening the fiscal sustainability of public pension systems and the cost-effectiveness of health and long-term care systems in the face of ageing populations and assuring the proper delivery of these and other services of economic interest to all EU citizens should remain a key objective for the Member States;
Amendment 330 #
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20 b. Welcomes the Commission’s proposal to step up efforts to improve preparedness for adverse developments, including climate change and nature related risks, especially in regions most exposed; urges those challenges to be considered in the next Country-Specific Recommendations;