34 Amendments of Bas EICKHOUT related to 2015/2285(INI)
Amendment 7 #
Motion for a resolution
Citation 22 a (new)
Citation 22 a (new)
– having regard to the Commission communication of 28 November 2014 on the Economic Governance review (COM (2014)905),
Amendment 24 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas the extension of the Expanded Asset Purchase Programme of the ECB confirms that in the current low- interest rate environment it is difficult to channel additional created liquidity towards the real economy;
Amendment 27 #
Motion for a resolution
Recital B
Recital B
B. whereas global economic growth is slowing down reducing the scope for relying on external sources of demand and new strategic challenges are arising;
Amendment 34 #
Motion for a resolution
Recital C
Recital C
C. whereas the euro area’s current account surplus continues to rise well above the level which would be in line with EU economic fundamentals, while Europe still faces an important investment gap;
Amendment 40 #
Motion for a resolution
Recital C a (new)
Recital C a (new)
Ca. whereas despite several Member States have experienced sensible reductions of their current account deficits and the reduction of unit labour costs , net external debt in percentage of GDP has not decreased in most Member States;
Amendment 47 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
Da. whereas the share of environmental taxes in total revenue fell to 6,3% in 2013 compared to 6,5% in 2012 in the EU; whereas environmental taxes are less detrimental to growth than labour taxes; whereas, according to the IMF, fossil energy subsidies amount to 329 billions of dollars per year;
Amendment 62 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. WelcomesTakes note of the 2016 Annual Growth Survey package and the proposed policy mix of investment, structural reform and fiscal responsibility, with increased emphasis on domestic demand and convergence, complementing accommodative monetary policie; stresses that the policy objectives and tools underlying such policy mix are not consistent, in particular regarding the need to complementing accommodative monetary policies with the purpose of increasing internal demand, coping with low inflation and promoting symmetrical current account adjustments;
Amendment 72 #
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Calls on the Commission to include in the next AGS a fourth pillar based on a comprehensive strategy to move towards a low-carbon economy, in order to translate in concrete policy actions the results of the COP21 for the purpose of fighting climate change and promoting sustainable growth based on innovation, an efficient use of energy and resources, renewable energy, green investment and new employment opportunities;
Amendment 77 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes improvements in public finances, in particular gradually declining debt/GDP ratiosficit/GDP ratios; stresses however that public debt ratios continue to rise in countries suffering from low nominal GDP growth and low inflation; stresses that the latter hinders the possibility to attain a reduction in the private and public debt to GDP ratios; express concern over the high level of private debt which has shown only a marginal decrease since 2009;
Amendment 109 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Is encouraged by mild improvements in labour market indicators; calls for more effort to reduce poverty, social exclusion and growing inequaliti although unemployment remains at unacceptable high levels and precariousness of employment is insufficiently addressed; calls on the Commission for more effort, also at EU level, to reduce poverty, social exclusion and growing inequalities; stresses that the social indicators in the Alert Mechanism Report, including the auxiliary indicators and the indicators of the joint employment report should be properly taken into account and have real impact on EU policy guidance to Member States;
Amendment 127 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the renewal of the Europe 2020 Integrated Guidelines, and calls for strengthening the role of the Europe 2020 Strategy in guiding the European Semester; calls for re-including environmental and sustainability objectives into the European Semester by re-integrating recommendations on environmental fiscal reforms and environmentally harmful subsidies;
Amendment 165 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Is aware of the ongoing deleveraging process in the private sector; stresses that investment rate is well below the pre-crisis period; considers that public investment is crucial to address the current investment gap and to trigger private investment; stresses that countries which can borrow at very low rate, could finance public investment characterised by higher rates of return, therefore contributing to increase potential growth; points to the importance of completing the banking union and boosting equity investments in SMEs;
Amendment 178 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Highlights the importance of investments in human capital and other social investments; stresses that the current policy mix does not provide enough room to finance this investment policy;
Amendment 188 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Points out that a revision of the EU economic governance framework should include inter alia a qualified treatment for investments using capital budgeting methods such as the amortised cost method for accounting certain categories of high-quality public investments generating large and measurable societal and environmental benefits over periods during which employment and output are below their potential;
Amendment 198 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Considers that, after a long period of nominal adjustment, focus should be put on structural reforms and investments aimed at strengthening growth potential, fostering a sustainable transition of Member States’ economies towards a decarbonised economy and reduced use of natural resources, promoting fair and sustainable welfare systems and reducing social inequalities;
Amendment 225 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Highlights the importance of renewable energy sources, greater resource and energy efficiency, including through the development of the circular economy; calls on the Commission to include country specific recommendations in these areas;
Amendment 229 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Is strongly concerned that the Commission has dropped almost all of the recommendations on environmentally harmful subsidies, environmental tax reform and the promotion of renewable energies from the CSRs; regrets, in particular, that the 2015 country-specific recommendations did not address fossil fuel subsidies which are a double negative weighing heavily on public budgets and harming the transition to a low-carbon economy; urges the Commission to reverse direction with a view to greening the European Semester;
Amendment 231 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Urges that further steps be taken towards resilient labour markets with reduced segmentation and sustainable welfare systems with increased focus on social investment; stresses that a specific approach is needed for some population groups such as younger people, low- skilled unemployed, older unemployed and women;
Amendment 256 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for a greater shift of taxation away from labour in particular towards environmental taxes, recalling that they entail lower distortion than other forms of taxation and are a key instrument to attain EU environmental and climate targets;
Amendment 275 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Reiterates the need for responsible fiscal policies, taking into account debt sustainability, the economic cycle and, the investment gaps and the need to complement the current accommodative monetary policy;
Amendment 303 #
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19a. Calls on the Commission to follow- up, with a review of the legislation, on its communication on assessing the Economic governance framework; notes that several countries are experiencing difficulties to comply with the current fiscal rules in an economic environment characterised by low-nominal growth; considers that a revision of the current rules would benefit their effectiveness, credibility and consistent application;
Amendment 323 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Supports all efforts towards improving the quality and growth-friendly character of public expenditure without jeopardising adequate provision of public and social services;
Amendment 334 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Welcomes the recommendation on the economic policy of the euro area as a wayn initial step to deepen policy coordination in the follow-up to the Five Presidents’' Report; stresses however that the recommendations fall short of what is necessary to address the high unemployment, poverty, inequality, and lack of transparency and democratic accountability of the eurozone's economic governance
Amendment 347 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Emphasises that, given its high level of interdependence and the singleness of its monetary policy, the euro area needs to be viewed as one macroeconomic entity where convergence must be promoted; calls therefore for an in-depth aggregate assessment of macroeconomic imbalances in the euro area to complement the assessment of country-specific vulnerabilities; insists on full coherence between the euro area recommendation and, the country-specific recommendations and the suggested policy mix;
Amendment 369 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Welcomes increased attention to the euro area’'s aggregate fiscal stance; calls for greater discussion on whether it can be considered broadly neutral given the large investment gap; on the Council to modify the Commission recommendation for a broadly neutral stance to be replaced with the recommendation for a countercyclical expansionary fiscal stance given the large investment gap and the persistent negative output gap; considers that the current fiscal stance, including the underlying contributions from single countries, is not appropriate to support a stronger nominal growth, to promote the internal rebalancing of the euro area and to address deflationary pressures; stresses that the 2015 broadly neutral fiscal stance has not supported the attainment of these objectives;
Amendment 384 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Supports the recommendation to differentiate fiscal effort by individual Member States taking into account their respective positions vis-à-vis Stability and Growth Pact requirements and stabilisation needs, as well as spillover effects; notes that high-surplus countries have significant fiscal space, which they ccontinues to expand and which should be used to the benefit of their populations and of the monetary union as a whole; calls on the Commission to make explicit the suggested optimal allocation of the fiscal stance among individual member states and to make country specific recommendations consistent with it;
Amendment 388 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. AgreNotes that while the euro area’'s high current account surplus is a welcome sign of the euro area’'s external competitiveness, it also implies a lack of internal investment andis well above EU economic fundamentals and is largely the result of weak domestic demand and reflects a lack of internal investment; stresses that the large current account surplus implies a risk of euro appreciation when monetary policy starts to become less accommodative, with adverse effects on growth and employment;
Amendment 417 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. RecognEmphasises the benefits of symmetrical adjustment, where regaining cost competitiveness does not require undergoing deflation which is detrimental to debt sustainability; notes that large external deficits have been largely corrected, while large surpluses continue to accumulate in Member States without significant deleveraging needs; stresses that accumulated surpluses are also problematic for the surplus economies themselves and have led to output losses due to low investment and low internal demand;
Amendment 422 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Calls for measures preventing a race to the bottom in terms of taxation and social standards, building on better use of social; calls on the Commission to properly integrate the social indicators such as for instance a stronger focus on GDP per capita, household disposable income and unemployment and poverty indicators, in macroeconomic surveillance and policy guidance;
Amendment 426 #
Motion for a resolution
Paragraph 29 a (new)
Paragraph 29 a (new)
29a. Calls for the inclusion of additional social and environmental indicators which should be on at least an equal footing with the rest of the MIP indicators; is of the opinion that such indicators must also be able to trigger corrective action and not merely to 'monitor' the overall socioeconomic situation; insists that excessive unemployment, inequality and poverty are also threatening imbalances for the Eurozone; recalls its repeated requests to adopt indicators regarding resource efficiency, indicators on unit capital costs and other indicators relevant for monitoring progress towards updated EU2020 objectives, including non-cost competitiveness-related indicators in fields such as R&D, education and training;
Amendment 437 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Believes that better implementation of country-specific recommendations requires to better identify clearly articulated priorities at European level and genuine public debate at national level, leading to greater relevance and ownership;
Amendment 446 #
Motion for a resolution
Paragraph 31
Paragraph 31
31. Calls for striking the right balance between makiand distinction among country-specific recommendations focused on key priorities and ensuring that they addressentailing spillovers at EU level and those ensuring that all key challenges from the perspective of Europe 2020 targets are addressed and finally those based on the identification of benchmarking and good practices;
Amendment 457 #
Motion for a resolution
Paragraph 32
Paragraph 32
32. Requests that plenary debates with the Commission and the President of the Eurogroup on the Annual Growth Survey and on draft euro area recommendation ahead of their adoption become regular features in order to strengthen democratic dialogue and accountabilitylegitimacy and increase accountability; stresses that an interinstitutional agreement should also provide for the Parliament to co-decide on the EU's yearly economic policy guidance;
Amendment 473 #
Motion for a resolution
Paragraph 35
Paragraph 35
35. Urges the Commission to launch negotiations on an interinstitutional agreement on economic governance, as suggested in the Five Presidents’' Report; stresses that this agreement should amongst others provide for the Parliament's right to co-decide on the EU's yearly economic policy guidance;