14 Amendments of Danuta Maria HÜBNER related to 2015/2344(INI)
Amendment 52 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Notes that articles 121(6) and 136 TFEU would provide the appropriate legal basis for a mechanism the scope of which would cover the euro area and which would aim to provide financial incentives to structural reforms and to national policies fostering EU-wide economic convergence if the objectives of such a mechanism do not go beyond what is needed to achieve the proper implementation of the multilateral surveillance procedure set out in article 121 TFEU while, should the objectives of the fiscal capacity be broader and more ambitious, it would be necessary to make use of the so-called "flexibility provision" of article 352 TFEU;
Amendment 59 #
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Calls for a swift inclusion of the substance of the Treaty Establishing the ESM into the EU legal framework;
Amendment 64 #
Motion for a resolution
Recital D
Recital D
D. whereas keeping the Balance of Payments Facility for non-euroArticle 123 and 125 TFEU were put in place to avoid and prevent moral hazard and ensure fiscal sustainability and prudency of euro area Member States; while depriving euro area Member States of this instrument as a consequence of the no-bail-out clause reflects one of the original flaws of EMUereas the European Stability Mechanism (ESM) constitutes the crisis resolution mechanism for countries of the euro area and has the function of a shock absorbent; whereas non-euro area Member States are not covered by the ESM but by the Balance of Payment Facility which supports non- euro countries in difficulties or when seriously threatened with difficulties as regards its balance of payments, as laid down in Article 143 TFEU, as non-euro countries experience higher risks due to exchange rate fluctuations;
Amendment 117 #
Motion for a resolution
Recital I a (new)
Recital I a (new)
Ia. whereas the principles of unity and completeness of the EU budget laid down in article 310(1) TFEU require all items of revenue and expenditure of the Union to be shown in the EU budget and therefore prohibit any type of separate budget;
Amendment 118 #
Motion for a resolution
Recital I b (new)
Recital I b (new)
Ib. whereas articles 121(6) and 136 TFEU would provide an appropriate legal basis for a mechanism the scope of which would cover the euro area and which would aim to provide financial incentives to structural reforms and to national policies fostering EU-wide economic convergence if the objectives of such a mechanism do not go beyond what is needed to achieve the proper implementation of the multilateral surveillance procedure set out in article 121 TFEU; whereas, should the objectives of the fiscal capacity be broader and more ambitious, it would be necessary to make use of the so-called ‘flexibility provision’ of article 352 TFEU;
Amendment 331 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Points out that effective stabilisation of large euro area Member States or a group of closely economically intertwined countries requires sufficient resources and that the reflection on new own resources for the EU should be deepened and pursued; awaits with great interest the findings and recommendations of the final report of the High Level Group on Own Resources due for December 2016;
Amendment 397 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Demands that the ESM be integrated into the Union’s legal framework and evolve towards a Community mechanism, as provided for in the ESM Treaty and as constantly requested by the European Parliament and foreseen in the Five Presidents’ report; underlines that the ECJ Pringle case-law and jurisprudence open up the possibility of bringing the ESM within the Union’s framework, within the existing Treaties, on the basis of Article 352 TFEU; calls, therefore, on the Commission to bring forward as a matter of urgency a legislative proposal to that end; demands that the ESM be made fully accountable to the European Parliament;
Amendment 473 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Stresses that significant progress in convergence and sustainable structural reforms is needed in order to reconcile fiscal consolidation, growth, jobs, on the one hand, achieve fiscal consolidation and a high level of growth, job creation, innovation, productivity, and competitiveness andwhile preserving the European social modelarket economy model and, on the other hand, reduce economic disparities across Member States and foster convergence so as to effectively prevent asymmetric shocks; considers that, in view of the, by any standard of measurement, very poor implementation of Country-specific Recommendations over the past years, additional mechanisms to foster economic coordination and convergence are necessary; takes the view that financial support from the European level for the implementation of agreed structural reforms in the Member States, while keeping the responsibility for implementation at the national level, is therefore indispensablewould offer valuable incentives for Member States to set the right policies;
Amendment 645 #
Motion for a resolution
Paragraph 31
Paragraph 31
31. Acknowledges that the model of a European Unemployment BenefitInsurance Scheme would foster convergence of labour markets in the medium term; believes that a balance has to be found, in reflecting on such a system, between the need to address a common issue through a common instrument and this of respecting national political and social preferences; draws attention, in order to reconcile these needs, to the example offered by the US three-tiered unemployment insurance scheme as well as to the possibility of an EU scheme providing reinsurance to national systems;
Amendment 680 #
Motion for a resolution
Paragraph 33
Paragraph 33
33. Warns that future symmetric shocks could destabilise the euro area as a whole since the currency area is not endowed with the instruments to cope with another crisis of the extent of the previous one; warns that there also might be shocks which are symmetric but still affect countries to a different degree and result in disruptive capital flows between Member States, growing economic divergences and increasing imbalances, in which cases action at the EU level is needed; is convinced that the right instrument to deal with symmetric shocks depends on the nature of the shock; recalls that the EMF should be used as an appropriate financial resource;
Amendment 721 #
Motion for a resolution
Paragraph 36
Paragraph 36
36. Considers that instability in the financial sector could also pose severe challenges for the euro area as a whole; urges completion of the Banking Union in order to lessenmitigate these challenges; calls for the fiscal capacity to operate as a fiscal backstop for the Banking Union, as agreed in the SRMincluding backstop to the Single Resolution Fund, backstop to the Deposit Insurance Fund and direct recapitalisation of financial institutions under an appropriate conditionality, as agreed when the SRM was established;
Amendment 750 #
Motion for a resolution
Paragraph 37 a (new)
Paragraph 37 a (new)
37a. Believes that the establishment of a budgetary capacity for the euro area has to be accompanied by adequate institutional reforms in order to ensure its democratic accountability and legitimacy as well as its credibility;
Amendment 799 #
Motion for a resolution
Paragraph 41 a (new)
Paragraph 41 a (new)
41a. Takes the view that the governance of the ESM has to be improved, possibly on the occasion of the integration of the ESM into the legal framework of the Union, for instance through an extension of the use of Qualified Majority Voting within the Board of Governors to new issues; also calls for the inclusion of the provisions relating to the Direct Recapitalisation Instrument into the Treaty establishing the ESM;
Amendment 807 #
Motion for a resolution
Paragraph 42
Paragraph 42
42. Considers that those non-euro countries that do not have an opt-out will eventually become part of the EMU and therefore may join the governance framework on a voluntary basis with a special statuEmphasizes that the seven EU Member States that do not have an opt-out or opt-in from joining the common currency, but are bound to join the euro area by their Treaties of Accession to the European Union, should have full rights of participating in the governance structure of any fiscal capacity, be able to contribute and benefit financially, receive technical and financial assistance in transposing needed structural reforms in their countries, thereby making their economies more competitive especially vis-à-vis current euro area Member States, increasing resilience, thus ensuring the sound transition into the euro area and avoid economic and financial crises in the future by fostering a stronger euro area with stronger Member States;