17 Amendments of Patrick LE HYARIC related to 2018/0093M(NLE)
Amendment 17 #
Motion for a resolution
Recital F
Recital F
Amendment 25 #
Motion for a resolution
Recital H
Recital H
H. whereas more than 10 000 European companies have their regional'letterbox' offices in Singapore;
Amendment 33 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. WelcomesTakes note of the signing in Brussels, on 19 October 2018, of the FTA;
Amendment 39 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Notes that negotiations were originally concluded in 2012 and regrets the longtakes note of the delay in bringing forward the agreement for ratification due to a request for an Opinion from the Court of Justice;
Amendment 45 #
Motion for a resolution
Paragraph 3
Paragraph 3
Amendment 53 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Is concerned that the Prudential Carve-Out paragraph (article 8.50) is less strong than the one used in CETA, since it does not refer to measures that can be taken to safeguard the security and integrity of an individual financial institution, and asks the Commission for an explanation thereof;
Amendment 54 #
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5 b. Is concerned that the phrasing “not […] more burdensome than necessary” in reference to measures that can be taken under the Prudential Carve- Out is highly contestable and poses a serious threat to governments’ right to regulate in order to safeguard the integrity and stability of a Member State’s financial system;
Amendment 55 #
Motion for a resolution
Paragraph 5 c (new)
Paragraph 5 c (new)
5 c. Is concerned that the Prudential Carve-Out paragraph is not strong enough to enable the EU and governments to refuse the supply of new financial services provided Singapore – being a big supplier of financial services and a tax haven – in order to protect the integrity and stability of the financial system;
Amendment 56 #
Motion for a resolution
Paragraph 5 d (new)
Paragraph 5 d (new)
5 d. Remarks that the phrasing “each Party shall make its best endeavours” to implement and apply financial regulation and guidelines such as the Basle Committee’s “Core Principles for Effective Banking Supervision” is of a noncommittal character,whereas the implementation of these kind of rules and guidelines should always be a prerequisite for concluding any agreement with a Party in order to safeguard the EU’s and Member States’ financial stability;
Amendment 66 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Regrets that despite all the efforts to battle tax avoidance and tax dodging, Singapore still remains a tax heaven and that Singapore is ranked 5 in Tax justice Network's Financial Secrecy Index because of its secrecy.
Amendment 67 #
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7 b. Notes that intermediation by banks in the setting-up of offshore structures has significantly decreased since 2007, when it was revealed that banks were promoting evasion of the provisions of the European Savings Directive of 2005 on a large scale; notes that reputational and regulatory risks in the aftermath of the financial crisis have also added to the decline in the offshore entities intermediated by banks since 2008; acknowledges, however, that at the global level statistical data do not show a general decline in the funds channelled through tax havens, at least up to 2014, but, rather, a reorganisation of jurisdictions and instruments used; notes that in parallel to the progressive rise in withholding tax levied by Luxembourg, Austria and Belgium (until 2009), from15 % in 2005 to 20 % in 2008 and 35 % in 2011, offshore money was increasingly allocated to letterbox companies in jurisdictions such as the Bahamas, Singapore and Hong Kong; notes, however, that the intermediation business has been taken over by other professions, namely lawyers, as demonstrated in the Panama Papers.
Amendment 72 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. WelcomNotes the fact that only around 190 EU geographical indications will be protected as of the entry into force of the agreement, with the possibility of adding more at a later stage, in view of the fact that Singapore is the fifth largest market in Asia for EU food and drink exports;
Amendment 86 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Underlines that the agreement safeguards the EU’s right to keep and to apply its own standards to all goods and services sold in the EU and upholds the EU’s precautionary principle;
Amendment 93 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Emphasises that this is a progressive trade agreement and that both Parties committed in the trade and sustainable development (TSD) chapter to ensure a high level of environmental and labour protection;
Amendment 94 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12 a. Urges both parties to introduce a sanctions based mechanism for the Trade and Sustainable Development Chapter.
Amendment 97 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recalls that the Parties committed to make sustained efforts towards ratifying and effectively implementing the fundamental ILO conventions before entering into force of this FTA; welcomes the information provided so far by the Government of Singapore in relation to its compliance with three outstanding ILO conventions, namely those on Freedom of Association and Protection of the Right to Organise, on Discrimination and on Forced Labour, and expects Singapore to further engage with the ILO with a view to progressing towards full alignment with their content and ultimately pursuing their ratification;
Amendment 115 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls on the Commission to trigger the general review clause of the agreement as soon as possible in order to strengthen the enforceability of labour and environmental provisions including through a sanctions-based mechanism as a last resort;