7 Amendments of Esther DE LANGE related to 2022/2150(INI)
Amendment 15 #
Motion for a resolution
Recital C
Recital C
C. whereas according to the annual sustainable growth survey, inflation should peak at 10.7 % in 2022 and then gradually decrease to 7.0 % in 2023 and 3 % in 2024; whereas inflation excluding energy and food, however, is estimated by the December 2022 ECB projections to rise from 3.9% in 2022 to 4.2% in 2023, which is far above the ECB's medium-term target of 2%; whereas wage growth is expected to only partially mitigate losses in real incomes, withouthich at the moment seems unlikely to triggering a persistent feedback loop between wages and inflation; , but may nevertheless contribute to keeping (core) inflation rates signficantly above the ECB's 2% inflation target.
Amendment 45 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Understands that government debt-to-GDP levels have risen in recent years partially due to exceptional circumstances; welcomes the Commission's focus on debt sustainability; underlines that government debt-to-GDP ratio's in many Member States are historically high, which in combination with the rising interest rates lead to a steep increase of debt servicing costs and which burdens the next generation with the costs of repayment; reiterates that sound fiscal policies and sustainable debt levels are essential in the longer run to create the required fiscal space to address future challenges;
Amendment 58 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that while the primary objective of the European Central Bank (ECB) is to maintain price stability, the primary objective of the Union as a whole should be to minimise the impact of current turbulences on the real economy, therebywhich is a necessary condition in order to defending the wellbeing of its citizens and preserving itsand purchasing power of our citizens, our production structure and the international competitiveness of itsour companies; underlines, in this regard, the importance of adequate and coordinated fiscal, structural and regulatory policies that complement the ECB’s monetary policy actions, which do not aggrevate inflation but are also capable of supporting vulnerable household incomes and providing targeted and temporary support to companies suffering from supply bottlenecks and high energy costs;
Amendment 72 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Observes the sizeable impact of the NextGenerationEU (NGEU) instrument as estimated by the Commission, the ECB and the International Monetary Fund, in particular an increase in GDP growth of up to 1.5 % higher than without NGEU investment if the instrument is implemented effectively; stresses that the majority of reforms and investments are yet to be implemented;
Amendment 144 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Agrees with the Commission’s orientations in general as regard the simplification of the framework, differences in Member States’ debt reduction paths, and the use of a comprehensive debt sustainability analysis and the general escape clause; notes, however, that numerical examples are lacking, which hamper a proper assessment of the proposals;
Amendment 154 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Is of the opinion that a bigger role of the Commission's debt sustainability analysis in the fiscal rules requires full transparency, predictability and stability of these assessments; the compliance and oversight should be further strengthened and clear rules are needed to secure a transparent and consistent implementation of the framework;
Amendment 188 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that while monetary policy is conceived and designed as a single instrument, the overall fiscal policy is the result of aggregating 19 individual fiscal policies; underlines that, apart from the recommendation on the economic policy of the euro area, coordination of actions has thus far been limited and the situation and challenges of the euro area have not been easy to factor in; highlights that it is still largely random if the aggregation of national fiscal policies results in a euro area fiscal stance which is appropriate and consistent with monetary policy; regretnotes that the Commission’s communication does not encompass rules or instruments that allow for the management of the euro area fiscal stance; stresses furthermore that solid public finances enable national automatic stabilisers to help Member States in reaching the appropriate fiscal stance;