7 Amendments of Louis MICHEL related to 2016/2064(INI)
Amendment 25 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Emphasises that EFSI was launched to help resolve difficulties and remove obstacles to financing as well as to implement strategic, transformative and productive investments that provide a high level of added value to the economy, the environment and society to complement structural reforms in EU Member States to modernise their economies to create growth and jobs;
Amendment 50 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls that the purpose of EFSI is to ensure additionality by helping to address market failures or suboptimal investment situations and supporting operations which could not have been carried out under existing Union financial instruments; notes however that there is a need for further clarification of the concept of additionality; recalls that EIB’s Special Activities operations are currently automatically considered as providing additionality and requires that EIB demonstrates and documents in a systemic way that all EFSI guaranteed projects meet the additionality criteria as set out in Article 5(1) of the Regulation (EU) 2015/2017;
Amendment 253 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Recalls that diversified investments with a geographical or thematic focus should be made possible by helping to finance and bundle projects and funds from different sources; notes with concern that the first investment platform was only set up in the third quarter of 2016; requests the EIB and the EIAH to promote the use of investment platforms as a way to achieve geographic and thematic diversification of investments;
Amendment 295 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Acknowledges that GDP and the number of projects approved are linked; recognises that larger Member States are able to take advantage of more developed capital markets and are therefore more likely to benefit from a market-driven instrument such as EFSI; underlines that lower EFSI support in EU-13 may be attributable to other factors, such as the small size of projects, and competition from the European Structural and Investment Funds (ESIF); observes with concern, however, the disproportionate benefit to certain countries and underlines the need to diversify geographical distribution further, especially in crucial sectors such as modernising andby improving the productivity and sustainability of economies with a key focus on technological development;
Amendment 324 #
Motion for a resolution
Paragraph 43
Paragraph 43
43. Notes that the Commission has proposed an extension of EFSI, both in terms of duration and financial capacity, and that this would have an impact on the EU budget; recalls the Parliaments opposition to finance EFSI by making cuts to Connecting Europe Facility and Horizon 2020 and expresses its intention to put forward alternative financing proposals for the proposed extension;
Amendment 349 #
Motion for a resolution
Paragraph 45 a (new)
Paragraph 45 a (new)
45a. Believes that without the implementation of structural reforms, particularly concerning the improvement of the business environment, to complement EFSI operations, EFSI will fall short of its potential; stresses, therefore, that EFSI financing and investment operations on the territory of a Member State should only be approved if the relevant Member State has made substantial progress in implementing country specific recommendations under the European Semester;
Amendment 380 #
Motion for a resolution
Paragraph 49
Paragraph 49
49. Acknowledges that EFSI alone - and on a limited scale- will probably not be able to close the investment gap in Europe, but that it nevertheless constitutes a central pillar of the EU’s investment plan and signals the EU’s determination to tackle this issue; calls for further proposals to be made on how to permanently boost investment in Europe, such as completing the single market in services, digital and energy, and establishing a genuine Capital Markets Union;