Activities of Dimitrios PAPADIMOULIS related to 2021/2063(INI)
Plenary speeches (1)
European Central Bank – annual report 2021 (debate)
Reports (1)
REPORT on the European Central Bank – annual report 2021
Amendments (63)
Amendment 7 #
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
— having regard to the monetary dialogues with the President of the ECB, Christine Lagarde, of 18 March, 21 June and 27 September 2021,
Amendment 8 #
Motion for a resolution
Citation 9
Citation 9
— having regard to the Eurosystem staff macroeconomic projections for the euro area published on 10 June9 September 2021,
Amendment 11 #
Motion for a resolution
Citation 10 a (new)
Citation 10 a (new)
— having regard to the ECB Survey on the Access to Finance of Enterprises (SAFE) in the euro area - 8 March and 22 April 2021, published on 1 June 2021,
Amendment 12 #
Motion for a resolution
Citation 11 a (new)
Citation 11 a (new)
— having regard to the Network for Greening the Financial System (NGFS) report entitled ‘Adapting central bank operations to a hotter world: Reviewing some options’, published on 24 March 2021,
Amendment 20 #
Motion for a resolution
Recital A
Recital A
A. whereas, according to the Commission’s Summer 2021 Economic Forecast, GDP contracted in 2020 by 6 % in the EU and 6.5 % in the euro area; whereas GDP is forecast to grow by 4.8 % in 2021 and 4.5 % in 2022 in both the EU and the euro area, with significant growth inequalities persisting between and within the Member States; whereas uncertainty and risks surrounding the growth outlook are high depending on the emergence and spread of COVID-19 virus variants and further picking up the pace up of vaccination campaigns;
Amendment 25 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
A a. whereas, according to the Eurosystem staff macroeconomic projections of September 2021, real GDP contracted in 2020 by 6.5 % in the euro area and is projected to grow by 5.0 % in 2021, 4.6 % in 2022 and 2.1 % in 2023;
Amendment 27 #
Motion for a resolution
Recital B
Recital B
B. whereas, according to Eurostat, the unemployment rate in JulyAugust 2021 stood at 6.98 % in the EU and 7.65 % in the euro area, spread in an uneven way across the EU and with unemployment rates among young people and women remaining much higher (16.2 % in the EU and 16.4 % in the euro area and 7.2 % in the EU and 7.9 % in the euro area, respectively);
Amendment 35 #
Motion for a resolution
Recital C
Recital C
C. whereas, according to the Eurosystem staff macroeconomic projections of JuneSeptember 2021, annual inflation for the euro area in the Harmonised Index of Consumer Prices (HICP) will be 1.92.2 % in 2021, 1.57 % in 2022 and 1.45 % in 2023 on average; whereas inflation projections show substantial variance across the euro area;
Amendment 36 #
C a. whereas ECB expects its key interest rates to remain at their present or lower levels until inflation reaches two per cent well ahead of the end of its projection horizon and durably for the rest of the projection horizon, and the realised progress in underlying inflation is sufficiently advanced to be consistent with inflation stabilising at two per cent over the medium term; whereas this may also imply a transitory period in which inflation is moderately above target;
Amendment 38 #
Motion for a resolution
Recital D
Recital D
D. whereas, at the end of 2020, the size of the Eurosystem balance sheet had reached its all-time peak of EUR 6 979 324 million, an increase of almost 50 % (EUR 2 306 233 million) compared with the end of 2019, mainly due to the increase in Eurosystem refinancing operations, as a result of the third series of targeted longer-term refinancing operations (TLTRO III), and the securities purchased under the pandemic emergency purchase programme (PEPP) and the Asset Purchase Programme (APP);
Amendment 40 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas small and medium-sized enterprises (SMEs) constitute the backbone of the EU economy, representing 99 % of all businesses in the EU, employing around 100 million people, accounting for more than half of EU’s GDP and playing a key role in adding value in every sector of the economy; whereas SMEs have been severely hit by the economic crisis caused by the COVID-19 pandemic;
Amendment 43 #
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. whereas, according to the Eurosystem staff macroeconomic projections of September 2021, global real GDP (excluding the euro area) is projected to increase by 6.3 % in 2021, before decelerating to 4.5 % in 2022 and 3.7 % in 2023; whereas global activity had already exceeded its pre-pandemic level in late 2020;
Amendment 44 #
Motion for a resolution
Recital D c (new)
Recital D c (new)
D c. whereas ECB’s net profit for 2020 amounted to EUR 1 643 million, compared with EUR 2 366 million in 2019; whereas this decrease was mainly due to the lower net interest income on foreign reserve assets and on securities held for monetary policy purposes as well as the decision by the Governing Council to transfer EUR 48 million to the ECB’s provision for financial risks;
Amendment 74 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the ECB Monetary Policy Strategy Review adopted unanimously and announced on 8 July 2021, which sets out how to achieve the primary objective of maintaining price stability and contribute to the achievement of the Union’s objectives without prejudice to the primary objective of price stability; calls on the ECB to set climate change, just transition, social, economic and territorial cohesion and full and high- quality employment as priority objectives;
Amendment 111 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Underlines the importance of a central fiscal capacity capable of providing a counter-cyclical stabilisation function and timely and adequate support in the event of economic shocks; agrees with President Lagarde that ‘such a central fiscal capacity could help steer the aggregate euro area fiscal policy stance and ensure a more appropriate macroeconomic policy mix’;
Amendment 114 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Highlights that a common euro area safe asset could foster financial stability and financial integration and help mitigate risks spilling over from sovereigns to their domestic banking sector;
Amendment 120 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Echoes President Lagarde’s call for the revision and simplification of the Stability and Growth Pact (SGP) to be carried out before the deactivation of the general escape clause; calls for an enhanced debate on the future of the EU economic governance framework in order to facilitate the economic and social recovery, promote fair, inclusive and sustainable growth and boost full and high-quality employment;
Amendment 136 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the ECB’s decision to continue to conduct net asset purchases at a significantly higher pace under the PEPP until at least the end of March 2022; Notes that the PEPP total envelope stands at EUR 1 850 billion and that the ECB will continue to conduct net asset purchases under the PEPP until at least the end of March 2022; welcomes the ECB’s decisions on 11 March 2021, 22 April 2021, 10 June 2021 and 22 July 2021 to conduct net asset purchases at a significantly higher pace than during the first months of 2021; notes the position of the ECB’s Governing Council on 9 September 2021 that favourable financing conditions can be maintained with a moderately lower pace of net asset purchases under the PEPP; calls on the ECB to carry out a thorough impact assessment before implementing such a lower pace and to inform the Parliament accordingly; agrees with President Lagarde’s statement on 10 June 2021 that ‘any discussion about exit from the PEPP (...) would be premature, it’s too early and it will come in due course’; calls on the ECB to continue these purchases for as long as necessary; notes that the PEPP envelope can be recalibrated if required to maintain favourable financing conditions;
Amendment 145 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Welcomes ECB’s decision to purchase flexibly under the PEPP with a view to preventing a tightening of financing conditions that is inconsistent with countering the downward impact of the pandemic, while supporting the smooth transmission of monetary policy;
Amendment 155 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Welcomes the fact that net purchases under the asset purchase programme (APP) will continue at a monthly pace of EUR 20 billion; welcomes ECB’s expectation that monthly net asset purchases under the asset purchase programme (APP) will continue to run for as long as necessary to reinforce the accommodative impact of its policy rates;
Amendment 158 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Welcomes the inclusion of Greek bonds in the PEPP; notes, however, that they are still not eligible under the public sector purchase programme (PSPP) despite the significant progress made; calls on the ECB to reassess the eligibility of Greek bonds under the PSPP and to provide specific recommendations well in advance of the conclusion of the PEPP for their inclusion in the PSPP;
Amendment 161 #
10 b. Welcomes ECB’s decision to continue to reinvest the principal payments from maturing securities purchased under the PEPP until at least the end of 2023 and to continue reinvesting, in full, the principal payments from maturing securities purchased under the APP for an extended period of time past the date when it starts raising the key ECB interest rates, and in any case for as long as necessary to maintain favourable liquidity conditions and an ample degree of monetary accommodation;
Amendment 163 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Notes that the amount of Eurosystem refinancing operations increased to EUR 1 850 billion at the end of 2020, mainly due to the third series of targeted longer-term refinancing operations (TLTRO III); notes, moreover, that the weighted average maturity of outstanding Eurosystem refinancing operations increased to around 2.4 years at the end of 2020;
Amendment 164 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Welcomes ECB’s decision to continue to provide ample liquidity through its refinancing operations; acknowledges that the funding obtained through the TLTRO III plays a crucial role in supporting bank lending to businesses and households; stresses, however, that in some cases a very small part of these liquidity injections has increased bank lending to the real economy, especially households and SMEs; calls on the ECB to ensure that such measures truly facilitate the financing of the real economy;
Amendment 170 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes the ECB’s decision on a new symmetric inflation target of 2 % over the medium term and its commitment to maintain a persistently accommodative monetary policy stance in order to meet its inflation target; notes with concern that inflation rose to a decade-high 3.4 % in August 2021September 2021; stresses that increases in inflation can be particularly harmful to the poorest parts of the population and result in increasing economic and social inequalities; calls on the ECB to evaluate and address this upward trend and its consequences more attentively;
Amendment 179 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
Amendment 184 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes the ECB’s decision to include the costs related to owner-occupied housing in the HICP to better represent the inflation rate that is relevant for households; acknowledges that this inclusion is a multi-year project; stresses that such inclusion could result to raising the price indices and, at least temporarily, bringing inflation above the medium-term target thus reducing ECB’s room for manoeuvre; calls on the ECB to prepare for and effectively address such risks;
Amendment 191 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13 a. Calls on the ECB to conduct a detailed and transparent audit of public debts and a public debt sustainability analysis for the euro area to facilitate a sustainable economic recovery; recommends that the ECB discuss a constructive plan on renegotiating and reconstructing public debt as part of an overall debt relief policy and re-examine the possibility to cancel the share of public debt it holds; invites the ECB to examine the possibility for the European Stability Mechanism (ESM) to purchase the ECB-held sovereign debt, which could enhance monetary policy independence;
Amendment 196 #
Motion for a resolution
Paragraph 13 b (new)
Paragraph 13 b (new)
13 b. Welcomes ECB’s decision to assess periodically the appropriateness of its monetary policy strategy, thus enhancing also public awareness and involvement in monetary policy;
Amendment 214 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Agrees with the ECB that tackling the climate emergency touches not only upon its secondary but also upon its primary mandate, given that climate change and its consequences pose a threat to price stability by hampering the transmission of monetary policy to the real economy, affecting growth and increasing macroeconomic instability; stresses that the EU has already decided on the priority of economic policies steered towards achieving climate neutrality by 2050 at the latest, hence the ECB is already obliged to adopt specific policies contributing to the EU climate policies and targets;
Amendment 224 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Welcomes the ECB’s new action plan and its detailed roadmap of climate change-related actions to further incorporate climate change considerations into its policy framework; notes, however, that the action plan focuses on climate- related risks, sidelining the issue of environmental impacts and thus potentially disregarding the double materiality principle that is at the heart of the EU sustainable finance framework; calls on the ECB to develop further its action plan to fully integrate environmental impacts;
Amendment 235 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Believes that the market neutrality principle falls short of the commitments under the Paris Agreement and the EU’s objective of achieving climate neutrality by 2050 at the latest; notes that the ECB has already deviated from market neutrality in several instances; stresses that in the presence of market failures, adhering to the market neutrality principle may reinforce pre-existing inefficiencies; notes that the ECB has already deviated from market neutrality in several instances; calls on the ECB to adopt a new approach that fully accounts for market failures and the need to align its policies with the EU environmental objectives;
Amendment 240 #
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Regrets the predominance of carbon-intensive sectors in the ECB’s corporate sector purchase programme (CSPP); welcomes ECB’s commitment to assess potential biases in the market allocation and alternative allocations and to make concrete proposals for alternative benchmarks, in particular for the CSPP; believes that such biases and alternative benchmarks are essential in order to align the CSPP with the Paris Agreement and the EU environmental objectives; calls on the ECB to accelerate the implementation of its commitment; calls for concrete action to tackle lending in the carbon economy and reduce the high emission intensity in the ECB’s portfolio also in the meantime;
Amendment 245 #
Motion for a resolution
Paragraph 17 b (new)
Paragraph 17 b (new)
17 b. Acknowledges ECB’s commitment to prepare climate-related disclosures of the CSPP as well as to develop proposals and ultimately adapt the CSPP framework to include climate change considerations but warns against delays; encourages the ECB to aim for a faster disclosure where advanced data is already available; invites the ECB to open a public consultation on decarbonising the CSPP to strengthen the legitimacy of its decisions; recalls that other asset purchase programmes, such as the third covered bond purchase programme (CBPP3) and the asset- backed securities purchase programme (ABSPP), are also to be aligned with the Paris Agreement and the EU environmental objectives;
Amendment 249 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Regrets the fact that green bond issuance in the EU represents only 2.6 % of the EU’s total bond issuance, despite the fact that, in 2020, 51 % of global bond issuance was concentrated in the EU and 49 % of global green bond issuance was denominated in euro; notes that the ECB has increased the share of green bonds in its own funds portfolio from 0.5 % in January 2020 to 3.5 % with a view of further increasing this percentage in the coming years; underlines, however, that this share remains considerably low; calls on the ECB to speed up its work on increasing the share of green bonds in its portfolio; welcomes, in this regard, ECB’s decision to use part of its own funds portfolio to invest in the euro- denominated green bond investment fund for central banks (EUR BISIP G2);
Amendment 255 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Calls on the ECB to prioritise the purchasing of bonds connected with long- term strategic investments, which contribute to the transition towards a carbon-neutral economy and to immediately develop transparent and standardised criteria for the selection of beneficiaries that fully incorporate environmental, social and governance factors, therefore divesting from carbon- intensive sectors and firms;
Amendment 257 #
Motion for a resolution
Paragraph 18 b (new)
Paragraph 18 b (new)
Amendment 262 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Welcomes the fact that the ECB is taking steps to incorporate climate-related risks into its collateral framework but warns against delays in its implementation; is concerned about the fact that the ECB continues to rely exclusively on private external credit rating agencies (CRAs) for risk assessment, particularly considering the fact that incorporation of climate risks in external CRAs is still an underdeveloped process in an unregulated field; calls on the ECB to develop a harmonised in-house climate and environment credit risk assessment framework in order to identify and eventually exclude polluting assets from monetary policy operations;
Amendment 267 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. Calls on the ECB to expand the scope of its action by aligning its collateral framework with biodiversity- related risks and to explore further ways of aligning its TLTROs with the objectives of the European Green Deal and the Paris Agreement;
Amendment 271 #
Motion for a resolution
Paragraph 19 b (new)
Paragraph 19 b (new)
19 b. Calls on the ECB, as member of the NGFS, to build on the nine options assessed by the NGFS for central banks to factor climate-related risks into their operational framework on credit operations, collateral and asset purchases;
Amendment 274 #
Motion for a resolution
Paragraph 19 c (new)
Paragraph 19 c (new)
19 c. Welcomes the creation of a climate change centre to bring together the work on climate issues in different parts of the ECB; expects the ECB to intensify its work to effectively incorporate climate considerations into its routine business;
Amendment 285 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Is concerned about the risks caused by the serious delay in completing the third pillar of the banking union; welcomes the ECB’s long-standing support of the establishment of a fully fledged European Deposit Insurance Scheme (EDIS) that would complete the banking union, ensure depositors’ protection, support the confidence of savers and safeguard financial stability;
Amendment 291 #
Motion for a resolution
Paragraph 21 a (new)
Paragraph 21 a (new)
21 a. Notes the progress made so far on the reduction of non-performing loans (NPLs); regrets the practice in several Member States of banks selling private non-performing mortgages to private equity funds on a mass scale, which results in a higher rate of home repossessions; regrets the failure of several Member States to deal with this problem through adequate consumer protection legislation; calls for the introduction of legal protection from repossession for mortgage holders at EU level;
Amendment 294 #
Motion for a resolution
Paragraph 21 b (new)
Paragraph 21 b (new)
21 b. Points out the importance of cash as a means of payment; notes that the number and value of euro banknotes in circulation grew by around 10 % in 2020; takes note of the Eurosystem’s Cash 2030 strategy aiming to ensure that all euro area citizens and businesses will continue to have good access to cash services and that cash will remain a generally accepted means of payment, while addressing the elements of reducing the ecological footprint of euro banknotes and developing innovative and secure banknotes; is concerned about the downsizing of the banking network in some Member States; considers that such practices can lead to significant restrictions to equal access to essential financial services and products;
Amendment 296 #
Motion for a resolution
Paragraph 21 c (new)
Paragraph 21 c (new)
21 c. Welcomes the fact that, in 2020, the number of counterfeit euro banknotes decreased to its lowest level since 2003 (17 parts per million); calls on the ECB to enhance the fight against counterfeiting and its cooperation with Europol, Interpol and the European Commission in pursuit of this goal; invites the ECB, without prejudice to the Member States’ prerogatives, to create a system to better monitor large transactions with a view to combating money laundering, tax evasion and the financing of terrorism and organised crime;
Amendment 301 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Welcomes the ECB’s decision to launch a 24-month investigation phase of a digital euro project; calls on the ECB to effectively address the expectations and concerns raised during the public consultation on a digital euro, such as privacy, security, the ability to pay across the euro area, no additional costs and offline usability; notes that this investigation phase will not prejudge any decision on the possible issuance of a digital euro;
Amendment 309 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Welcomes the continuous efforts of the ECB to strengthen its response and recovery capabilities in the event of cyberattacks; Stresses that the financial sector is undergoing considerable transformation driven by innovation and digitalisation; underlines that this transformation poses increased risks for external disruptions such as cyberattacks; welcomes the continuous efforts of the ECB to strengthen its response and recovery capabilities in the event of cyberattacks; reiterates its concern regarding the incidents that seriously affected TARGET2 and TARGET2-Securities in 2020; welcomes the independent review of these incidents and notes that a number of findings were rated with ‘high’ severity; welcomes the Eurosystem’s acceptance of the general conclusions and its commitment to implement the recommendations of the review; calls on the ECB to further enhance its efforts in the field of cybersecurity and to continue to promote the cyber resilience of financial market infrastructures;
Amendment 316 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Calls on the ECB to step up its monitoring of the development of crypto- currencies and the related risks in terms of cybersecurity and money laundering; calls on the ECB to ensure an adequate balance between financial innovation, including in the FinTech area, and financial stability; takes note of ECB’s intention to develop and implement a policy response to mitigate the potential adverse impact of stablecoins on the EU payments and financial landscape while enabling sound initiatives to bring benefits to consumers and businesses;
Amendment 321 #
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24 a. Notes that Bulgaria and Croatia joined the Single Supervisory Mechanism (SSM) in 2020 thus becoming the first countries outside the euro area to join the European banking supervision; notes the equal representation of their national banks on the ECB’s Supervisory Board; notes, also, the inclusion of the Bulgarian lev and the Croatian kuna in the exchange rate mechanism (ERM II) as one of the preconditions for adopting the euro;
Amendment 328 #
Motion for a resolution
Paragraph 24 b (new)
Paragraph 24 b (new)
Amendment 329 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Welcomes the substantial and detailed feedback provided by the ECB to Parliament’s resolution on the 2019 ECB Annual Report; calls on the ECB to continue this commitment to accountability and keep on publishing its written feedback to Parliament’s resolutions on the ECB Annual Reports each year;
Amendment 333 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Stresses the need to further enhance the accountability and transparency arrangements of the ECB; recognises the steps taken by the ECB; repeats its call to launch negotiations on a formal interinstitutional agreement, such as the adoption of the single Code of Conduct for high-level ECB officials and the decision to publish the Ethics Committee’s opinions addressed to the current members of the Executive Board, Governing Council and Supervisory Board that have been issued since the entry into force of the single Code of Conduct; repeats its call to launch negotiations on a formal interinstitutional agreement to formalise and go beyond the existing transparency and accountability practices;
Amendment 337 #
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
26 a. Suggests a regular dialogue between members of Parliament’s Committee on Economic and Monetary Affairs and relevant ECB representatives following the publication of the latest available account of the proceedings of the Governing Council to assess ECB decisions ahead of and in parallel with the monetary dialogues;
Amendment 338 #
Motion for a resolution
Paragraph 26 b (new)
Paragraph 26 b (new)
26 b. Calls on the ECB to publish the full list of purchases under the ABSPP and the CBPP3, as it has been doing with the CSPP since 2017, thus increasing the transparency of the APP;
Amendment 339 #
Motion for a resolution
Paragraph 26 c (new)
Paragraph 26 c (new)
26 c. Calls on the ECB to disclose the full amounts of profit made by the Eurosystem through the agreements on net financial assets (ANFAs) and the securities markets programme (SMP) from 2010 until the full expiration of the programme, with a specific breakdown per country subject to SMP purchases (Greece, Ireland, Portugal, Spain, Italy);
Amendment 340 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Reiterates its call for the ECB to ensure the independence of the members of its Audit Committee, as well as of its Ethics Committee; urges the ECB to ensure that the Ethics Committee is not chaired by a former President or other past members of the Governing Council, nor by anyone liable to conflict of interest; calls on the ECB to require a two-year cooling-off period for its outgoing members after the conclusion of their mandate;
Amendment 341 #
27 a. Is concerned about the fact that more than 90 % of the members of the ECB’s advisory groups are from the private sector, which could cause bias, conflict of interest and regulatory capture in the policy-making process;
Amendment 342 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Welcomes the ECB’s new internal whistleblowing framework; calls on the ECB to ensure itsthe integrity and efficiency of the new internal tool in order to facilitate truly simple and secure reporting of potential breaches of professional duties, inappropriate behaviour or other irregularities, and the possibility for whistleblowers and witnesses to be granted effective protection from any kind of retaliation;
Amendment 345 #
Motion for a resolution
Paragraph 28 a (new)
Paragraph 28 a (new)
28 a. Calls on the ECB to further take into account the decision of the European Ombudsman on the involvement of the President of the ECB and members of its decision-making bodies in the ‘Group of Thirty’ (Case 1697/2016/ANA) in order to ensure full transparency and public confidence in the independence of the ECB;
Amendment 346 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. RExpresses strong concern that only two of the ECB’s Executive Board are women; reiterates that the nominations of the Executive Board members should be prepared carefully and take a gender- balanced approach, with full transparency and together with Parliament, in line with the Treaties; calls on the Council to draw up a gender-balanced shortlist for any upcoming vacancies and to share it with Parliament, thus allowing it to play a more meaningful advisory role in the appointment process; regrets that no satisfactory progress has been made to date in this regard; reiterates its commitment not to take into account lists of candidates where the gender balance principle has not been respected;
Amendment 351 #
Motion for a resolution
Paragraph 29 a (new)
Paragraph 29 a (new)
29 a. Expresses strong concern that only two of the 25 members of the ECB’s Governing Council are women given that all governors of the national central banks of the euro area member countries are men; calls on the euro area member countries to fully incorporate the principle of gender equality in their appointment process and to ensure equal opportunities for all genders for the position of the governor of their national central banks;
Amendment 353 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Welcomes the ECB’s new strategy to further improve the gender balance of its staff at all levels; notes theNotes that, at the end of 2019, the share of women in all management positions of the ECB rose to 30.3 % and in its senior management positions to 30.8 %; underlines, however, that this share remains considerably low; welcomes, in this regard, the ECB’s new strategy to further improve the gender balance of its staff at all levels, including the objective to fill at least half of new and open positions with women on all levels and the target to increasinge the share of women in managerial positions, which, however, remains low; at the different levels to between 40 % and 51 % by 2026; calls on the ECB to further incentivise the participation of women and actively promote a gender-balanced representation in all its positions;
Amendment 356 #
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30 a. Acknowledges the ongoing efforts by the ECB to enhance its communication to citizens on its policies and their impact; notes that a relevant Eurobarometer survey indicates that only 40 % of euro area respondents tend to trust the ECB; calls on the ECB to further engage in constructive dialogue with citizens to explain its decisions and listen to citizens’ concerns;