18 Amendments of Danuta Maria HÜBNER related to 2017/2124(INI)
Amendment 146 #
Motion for a resolution
Paragraph 7
Paragraph 7
Amendment 168 #
Motion for a resolution
Paragraph 8
Paragraph 8
Amendment 186 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Recalls that, in accordance with Article 3 of its Statute and article 127 (1) TFEU, the ECB must support ‘the general economic policies of the Union’, including, as stated in Article 3 of the TEU, ‘the sustainable development of Europe based on balanced economic growth’;
Amendment 236 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Considers that monetary policy alone is not sufficient to achieve a sustainable and more even and inclusive economic recovery, and that public and private investments should therefore be encouraged in the context of a moderately positive fiscal stance in the Eurozone as proposed by the Commission;notes that, as exceptional support measures will need to be unwound in a foreseeable future, it will progressively become more important to compensate less expansionary monetary policy with more active fiscal policies;
Amendment 284 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Stresses that excessive current account surpluses in some Member States must be corrected through appropriate fiscal policies, in particular those focusing on long-term investments;
Amendment 306 #
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Recalls the need for a carefully thought-out exit strategy from the current accomodative monetary policy;believes that such exit should be gradual and start relatively soon;stresses that proper communication on the planned and implemented measures will have to be an integral part of such strategy and will be key to its success;believes that there is no a priori obvious sequencing to be followed for the unwinding of exceptional measures and that the ECB should not be bound by the approach taken in other jurisdictions but should take its decision depending on the prevailing conditions at the moment the exit strategy starts being implemented;
Amendment 309 #
Motion for a resolution
Paragraph 18 b (new)
Paragraph 18 b (new)
18 b. Recalls the need to have in mind the differentiated impact of the withdrawal of exceptional measures across Member States when designing an exit strategy; points out that the extent to and speed with which an interest rate increase will affect government finances depends on the debt level of the country considered and on the maturity profile of its debt;
Amendment 310 #
Motion for a resolution
Paragraph 18 c (new)
Paragraph 18 c (new)
18 c. Stresses that the progressive normalisation of monetary conditions will not take place in a situation identical to what prevailed prior to the crisis, that many deep and structural changes have taken place in the meantime, that many benchmarks will have to be re-assessed and reset and that original reflection will therefore be necessary to navigate the new environment;
Amendment 311 #
Motion for a resolution
Paragraph 18 d (new)
Paragraph 18 d (new)
18 d. Draws in this respect attention to the example of research showing that the neutral interest rate might have fallen over the last decades as a result of factors such as demography and changing preferences, thereby structurally reducing the effectiveness of monetary policy;
Amendment 312 #
Motion for a resolution
Paragraph 18 e (new)
Paragraph 18 e (new)
18 e. Draws attention to the conjunction over the recent years of many regulatory reforms having the potential to reduce the supply of private liquidity with a generous provision of liquidity from the central bank, thereby making it difficult to assess the impact of recent reforms;points out that this paradoxical context follows a period of asset price bubbles prior to the 2008-2009 crisis;calls in this situation for adequate research on what the optimal amount of liquidity in the system should be;
Amendment 350 #
Motion for a resolution
Paragraph 22
Paragraph 22
Amendment 355 #
Motion for a resolution
Paragraph 23
Paragraph 23
Amendment 387 #
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 425 #
Motion for a resolution
Paragraph 29
Paragraph 29
Amendment 432 #
Motion for a resolution
Paragraph 29 a (new)
Paragraph 29 a (new)
29 a. Agrees with the Commission in its reflection paper on the future of the EMU by 2025 that safe assets are essential for modern financial systems;is aware of the expected benefits of creating some form of safe asset for the euro area but also of the economic, legal, political and institutional challenges that would need to be solved for such asset to be created and be successful;takes note of the specific mention by the Commission of Sovereign- Bond-Backed Securities (SBBSs) and recalls that SBBSs would not constitue a form of debt mutualisation;considers the issue of safe assets a medium to long- term issue, to be definitely addressed once further progress has been made on the completion of the Banking Union and of the Capital Markets Union;
Amendment 437 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Welcomes the amendment of Article 22 of the ECB StatuteTakes note of the ECB recommendation for a Decision of the European Parliament and of the Council amending Article 22 of the Statute of the ESCB and of the ECB, issued last June in order to provide a legal basis forenabling the Eurosystem to carry out its role as central bank of issue in the proposed reform of the supervisory architecture for central clearing counterparties (CCPs); looks forward to the discussions on this proposal;
Amendment 479 #
Motion for a resolution
Paragraph 34
Paragraph 34
34. Calls on the ECB to assess all the consequences of the UK’s withdrawal from the EU and to stand ready to support banks in relocating their activities in the euro area; considers the streat proper attention should be paid to improving thening of effectiveness of the oversight ofor euro- clearing outside the euro area to be of the utmost importancein order to avoid supervisory gaps and financial stability issues;
Amendment 493 #
Motion for a resolution
Paragraph 35
Paragraph 35
35. BelievNotes that the High-Level Group on Own Resources thats identified ECB profits from seigniorage revenue should be considered an EU budgetary resource, since they are directly linked to a fully developed, sui generis European policyas one of the possible new own resources for the EU budget; stresses that turning these profits into an EU own resource would require a change to the statute of the ESCB and the ECB as well as adjustments in order to accomodate the specific situation of non-euro area Member States;