23 Amendments of Sari ESSAYAH related to 2010/2038(INI)
Amendment 2 #
Motion for a resolution
Recital A
Recital A
A. whereas the Commission communication voices concerns about the adverse impact on growth potential and government deficits of population ageing and the long-term trend towards rising welfare spending as a proportion of GDP, and the effect of ageing on the sustainability gap is calculated in most Member States to be five to twenty times higher than the effects of the current economic crisis,
Amendment 17 #
Motion for a resolution
Recital E
Recital E
Amendment 23 #
Motion for a resolution
Recital F
Recital F
F. whereas it agrees with the Commission states that ‘there is no one clear-cut definition of a sustainable fiscal position’, but nevertheless attempts to suggest a criterion for sustainabilityit is advisable to follow the Sustainability and Growth Pact so that Member States systematically pursue a debt level of maximum 60% of GDP,
Amendment 27 #
Motion for a resolution
Recital G
Recital G
Amendment 31 #
Motion for a resolution
Recital H
Recital H
H. whereas those economies that account for the largest proportion of the EU’s GDP are in fact beset by excess saving, and whereas the threat of deflation is consequently still present in the European Union, many of the Member States already had serious sustainability gaps in their public finances before the current economic crisis and it is even more important now for a sustainable recovery process to build confidence in the economic future of the European Union and to have solid policies to fill the sustainability gaps in all Member States,
Amendment 36 #
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas there are various means to reduce the sustainability gap, like increasing general productivity, most importantly increasing productivity of the welfare services, raising retirement age, increasing birth rate or increasing amounts of immigrants,
Amendment 37 #
Motion for a resolution
Recital I b (new)
Recital I b (new)
Ib. whereas a Member State should also use other means to fill the long-term sustainability gap of its public finances, but it would show great determination and solidarity among the Member States, if they all would have the same pace in reducing the sustainability gap in relation to GDP and according to various calculations this pace could be 0.8 - 1.2 percentage units of GDP yearly,
Amendment 63 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Draws attention to the undesirable effects – in terms of deterioof either prematurely withdratwing employment, human capital and purchasing power – of prematurely withdrawing support measursupport measures or waiting too long before taking corrective measures on the sustainability of public finances;
Amendment 74 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Emphasises that, in a context of chronic under-utilisation of production capacity, structural measura necessity to reach sound public finances, all Member States wshould have little impact if nothing were done to support demand, since firms, whose capital resources are under-utilised, would have little reason to investstart latest in 2011 to reduce their sustainability gap by 1 % of GDP yearly;
Amendment 76 #
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 82 #
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 107 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Emphasises that the role of social protection systems as ‘social safety nets’ has proven particularly effective in times of crisis, and that such systems can be maintained by, inter alia, broadening their financing base adjusting them to sustainable levels and increasing productivity in the social sector;
Amendment 110 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Recalls that the long-term balance of compulsory pension schemes depends not only on population trends, but also on the productivity of assets (which affects the potential growth rate) and the proportion of GDP allocated to the financing of such schemeaverage retirement age, an increase of which may significantly contribute to reducing long-term sustainability gaps;
Amendment 116 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Takes the view that interest rates for government borrowing are the main criterion for assessing short-termflect how markets value the debt sustainability of a Member State;
Amendment 119 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Points out that the markets and credit- rating agencies may under- or overestimate the risks of holding government securities, just as they underestimated the risks of acquiring private securities before the financial crisis;
Amendment 124 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Asks the Commission to carry out studies that will afford a basis for assessing the quality of the Member States’ debts – which determines interest rates on government borrowing – in order to improve the information available to credit-rating agencies;
Amendment 136 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Suggests that the term ‘excessive deficit’ be used where spending or poorly calibrated tax incentives increase the debt by depriving the government of significant resources without producing the effect on growth and tax revenue forecast in the budget legislationMember States use their public finances optimally to enhance economic recovery;
Amendment 138 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. RecallNotes that the Stability and Growth Pact was revised in 2005 in order to allow the de facto adoption of the principlstill forms the backbone of discipline in order to achieve long-term sustainability of public finances uanderpinning a counter-cyclical macroeconomic policy, which have come into their own in the face of the crisis that the Member States should run surpluses on their public finances in "good times" and deficits only in "bad times";
Amendment 148 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Asks the Commission to ensure that any recommendations on deficit reduction are compatible with this principle of counter-cyclical management of public financethe Member States agree on building credibility in the long-term sustainability of their public finances and commit themselves to a consorted effort in order to rapidly reduce sustainability gaps;
Amendment 151 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Calls for the structural deficit to be used as an indicator for determining the long-term sustainability of public financeCommission to monitor and evaluate on a continuous basis the advances made by the Member States in reducing their sustainability gaps;
Amendment 154 #
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 158 #
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Calls for the Commission to consider the reduction of long-term sustainability gaps of public finances as an essential part of the EU 2020 strategy;
Amendment 159 #
Motion for a resolution
Paragraph 20 b (new)
Paragraph 20 b (new)
20b. Calls for the Member States after filling their sustainability gaps to reduce their public debt to GDP ratio to maximum 60%;