73 Amendments of Liem HOANG NGOC related to 2012/2151(INI)
Amendment 1 #
Motion for a resolution
Citation 1 a (new)
Citation 1 a (new)
- having regard to Article 9 of the Treaty on the Functioning of the European Union,
Amendment 34 #
Motion for a resolution
Citation 33 a (new)
Citation 33 a (new)
- having regard to its resolution of 13 September 2012 "Towards a Banking Union",
Amendment 40 #
Motion for a resolution
Recital B
Recital B
B. whereas the economic and monetary union (EMU) is not an end in itself but rather an instrument to achieve Union objectives, in particular a balanced and sustainable growth and a high level of employment; whereas social inclusion and solidarity are the cornerstones of the European social model and of European integration as a whole and cannot be left out of any future reform of the Union;
Amendment 59 #
Motion for a resolution
Recital E
Recital E
E. whereas the economic, financial and banking crisis has repeatedly demonstrated that public debt at national level and financing problems as well as the disturbance of macroeconomic equilibriums and financial speculation quickly, directly and negatively affect the socio-economic development of the euro area and of the Union as a whole;
Amendment 68 #
Motion for a resolution
Recital F
Recital F
F. whereas there is great concern about the difficult economic and financial situation in which several Member States find themselves, aggravated by the continuous strains on the sovereign bond markets reflected in high interest borrowing rates for some countries ands well as very low or negative interest borrowing rates for some others creating an imbalance and therefore a considerable financial and economic instability;
Amendment 73 #
Motion for a resolution
Recital G
Recital G
G. whereas the combination of a lack of competitiveness and a low growth potentialsymmetric evolutions in competitiveness levels and therefore the impossibility for monetary policy to be optimal for the euro area as a whole, and a low growth potential, low levels of investment and high unemployment with high deficits and high debt not only causes harm in some Member States, but also makes vulnerable the euro area as a whole;
Amendment 91 #
Motion for a resolution
Recital J a (new)
Recital J a (new)
Ja. whereas the incompleteness of the EMU has not, however, prevented non- cooperative strategies such as competitive disinflation and tax competition;
Amendment 93 #
Motion for a resolution
Recital K
Recital K
K. whereas the Union's single currency should not become a symbol of division which threatens the whole European project, but should remain a symbol of a Unionand the currency of the Union as a whole that is decisive and capable of taking far- reaching decisions for a common and prosperous future;
Amendment 99 #
Motion for a resolution
Recital L
Recital L
L. whereas euro area membership implies a high degree of economic interdependence between the Member States concerned and therefore requires a much closer coordination of financial, fiscal, social and economic policies, linked to stricter supervisory instruments and effective enforcement;
Amendment 115 #
Motion for a resolution
Recital P
Recital P
P. whereas any doubt about the future of EMU in general, including the irreversibility of membership of the euro area, and the Union's single currency in particular must be ruled out;
Amendment 139 #
Motion for a resolution
Recital V
Recital V
V. whereas the growing divide between core and peripheral countries in the Union should not become chronic in nature; whereas a permanent framework must be created in which Member States in difficulty should be able to rely on solidarity-based support from other Member States; whereas those Member States which desire solidarity should be able to take up their responsibility for implementing the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union as well as their country-specific recommendations and their engagements under the European Semester, in particular those related to the stability and growth pact (SGP), the Euro- plus pact and the macro-economic imbalances procedureir country-specific recommendations and their engagements under the European Semester;
Amendment 168 #
Motion for a resolution
Recital Z
Recital Z
Z. whereas the report drawn up by the four Presidents represents the first long-term plan which unambiguously chooses the way forward and seeks to break the cycle of distrust by means of structural measures; whereas the same report fails to set the short-term urgent action to help Member States in difficulty and lacks a fundamental social dimension;
Amendment 176 #
Motion for a resolution
Recital AB
Recital AB
AB. whereas steady progress in the implementation of the long-term road map should not delay the needed short-term measures in order to support countries to invest in smart growth;
Amendment 180 #
Motion for a resolution
Recital AC
Recital AC
AC. whereas it cannot be excluded that new Treaty changes might be needed for increasing the governance of a fully operational EMU; whereas the Commission should list without delay the necessary institutional developments in the long termthe existing Treaties allow a broad margin for substantial progress toward an EMU based on an enhanced and more integrated financial, budgetary and economic policy framework and on a stronger democratic legitimacy and accountability;
Amendment 187 #
Motion for a resolution
Recital AE
Recital AE
AE. whereas the ambition should be that all Member States jointly take steps forward towards greater European integration under the existing Treaties and the future Treaty changes; whereas decisions that only apply to the euro area might be needed where required or justified on the basis of the specificity of the euro area, not excluding opt-ins for other Member States;
Amendment 215 #
Motion for a resolution
Recital AH a (new)
Recital AH a (new)
AHa. whereas the banking sector should take more responsibility for the impact of its failure on the real economy through a deposit guarantee and resolution mechanism based on ex ante private financing, charging more those institutions which represent a systemic risk;
Amendment 240 #
Motion for a resolution
Recital AM a (new)
Recital AM a (new)
AMa. whereas all measures to achieve a banking union should be accompanied by an improvement of transparency and accountability of the institutions implementing it;
Amendment 248 #
Motion for a resolution
Recital AN a (new)
Recital AN a (new)
ANa. whereas a reform of the structure of the Union banking system based on a separation between retail and investment activities would be essential to achieve a banking union;
Amendment 286 #
Motion for a resolution
Recital AV
Recital AV
AV. whereas supervision by the ECB should already from the very start cover the financial institutions requiring direct support from the Union as well as European systemically important financial institutions (E-SIFIs) and domestic systemically important financial institutions (D-SIFIs)), while ensuring coverage of all banks in the future regardless of their size or activities;
Amendment 412 #
Motion for a resolution
Recital BS
Recital BS
BS. whereas sound public finances and balanced budgets over the economic cycle as well as adequate levels of public investment are a basic requirement for long-term economic and financial stability, for the welfare state and for the payment of the costs of the expected demographic development;
Amendment 418 #
Motion for a resolution
Recital BT
Recital BT
BT. whereas the smooth functioning of EMU requires a full and swift implementation of thethat measures already agreed upon under the reinforced economic governance framework (such as the reinforced SGP and the Fiscal Compact)European Semester) are complemented with growth enhancing policies;
Amendment 422 #
Motion for a resolution
Recital BT a (new)
Recital BT a (new)
BTa. whereas the Growth and Jobs Compact insists on the need to pursue differentiated growth-friendly fiscal consolidation and calls for particular attention to investments into future- oriented areas;
Amendment 425 #
Motion for a resolution
Recital BU
Recital BU
BU. whereas the crisis has made clear the need for a qualitative step towards a more robust and democratic fiscal union with an efficient coordination of tax policies and fight against tax evasion, a true mechanism of redistribution of income at Union level, more effective mechanisms to correct unsustainable fiscal trajectories, debt levels and set the upper limits of budget balance of Member States;
Amendment 440 #
Motion for a resolution
Recital BW
Recital BW
BW. whereas the trilogue negotiations on the so-called ‘two-pack’ regulations should soon lead to concrete political results; the Council should abandon its reluctance on the dossier and a real advance in the coordination of economic and fiscal policies in the Union and therefore an instrument for the management of common debt;
Amendment 446 #
Motion for a resolution
Recital BX
Recital BX
BX. whereas options should be explored for the feasibility of a euro area stabilisation instrument to counter and absorb economic shocks in the Member States should be implemented; whereas financial assistance mechanisms such as the ESM are less rapidly deployable than conventional budgetary mechanisms;
Amendment 474 #
Motion for a resolution
Recital CB
Recital CB
Amendment 483 #
Motion for a resolution
Recital CB a (new)
Recital CB a (new)
CBa. whereas such a framework will be well established after the approval of the two pack;
Amendment 495 #
Motion for a resolution
Recital CC a (new)
Recital CC a (new)
CCa. whereas Article 9 of the Treaty on the Functioning of the European Union calls for the promotion of a high level of employment, the guarantee of adequate social protection, the fight against social exclusion and a high level of education, training and protection of human health;
Amendment 497 #
Motion for a resolution
Recital CC b (new)
Recital CC b (new)
CCb. whereas the current proposals on the future of EMU give no attention to employment and social dimensions of economic governance; whereas the European Parliament has already produced a range of proposals in this regard;
Amendment 498 #
Motion for a resolution
Recital CD
Recital CD
Amendment 527 #
Motion for a resolution
Recital CH
Recital CH
CH. whereas the instrument of enhanced cooperation should be used more frequently in the field of taxation; whereas substantial progress towards tax harmonisation is necessary to complete the internal market and prevent tax competition; whereas reference can be made to the European Parliament's position on the common consolidated corporate tax base (CCCTB) and the financial transactions tax (FTT);
Amendment 539 #
Motion for a resolution
Recital CI
Recital CI
CI. whereas it is important that the recovery of the economy goes along with an active labour market policy that reduces structural unemployment, especially for youth, old persons and women, while safeguarding the European social model;
Amendment 552 #
Motion for a resolution
Recital CK
Recital CK
CK. whereas sustainable lasting public finance is not only a matter of an economic use of the scare government resources, but also of a fair taxation, of tax progressivity, of a well-organised collection of taxes, of a better fight against all forms of tax evasion,fraud and tax evasion, of tax cooperation and harmonisation aimed at limiting tax competition and of a well- designed tax system that avoids the combination of high marginal rates with low tax bases;
Amendment 562 #
Motion for a resolution
Recital CL a (new)
Recital CL a (new)
CLa. whereas this legitimacy is derived from a dual citizenry, that of the people represented by the European Parliament and that of the Member States represented by the Council;
Amendment 569 #
Motion for a resolution
Recital CN
Recital CN
Amendment 577 #
Motion for a resolution
Recital CN a (new)
Recital CN a (new)
CNa. whereas the tendency to base euro area governance on intergovernmental procedures, bodies and agreements has proved to be economically inefficient, non transparent and unable to address the Union's democratic deficit originated by the gap between the European dimension of the policies necessary to govern the EMU and the prevailing national dimension of the politics on which that governance is currently based;
Amendment 585 #
Motion for a resolution
Recital CP
Recital CP
CP. whereas measures taken at Union level are often rightly perceived as being ‘too little, too late’ due to the procedures arising from the democratic legislative processlimitations of the intergovernmental method, the lack of a European institutional substructure or own Union resources to intervene directly to tackle a crisis situation;
Amendment 597 #
Motion for a resolution
Recital CS
Recital CS
CS. whereas it is no longert acceptable that the President of the European Parliament cannot be present for the whole duration of the meetings of the European Council and the Euro area Summit; whereas a solution for this lack of democratic legitimacy should be found urgently through a political agreement between the two institutions;
Amendment 600 #
Motion for a resolution
Recital CT
Recital CT
CT. whereas wherever new competences are transferred to or created at Union level or new Union institutions established, corresponding legitimacy, democratic control by, and accountability to, the European Parliament should be ensured;
Amendment 605 #
Motion for a resolution
Paragraph -1 a (new)
Paragraph -1 a (new)
-1a. Considers necessary to place the governance of the economic and monetary union within the institutional framework of the Union, which is a precondition for its effectiveness and for filling the current political gap between national politics and European policies;
Amendment 642 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 5 a (new)
Annex – part 1 – point 1.1 – paragraph 5 a (new)
The proposal should provide for the judicial oversight of the European supervisor by the European Court of Justice which should be empowered to review the acts of the ECB;
Amendment 673 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 9 – indent 3
Annex – part 1 – point 1.1 – paragraph 9 – indent 3
– protect the stability of the financial system, the transparency of markets and financial products and the protection of depositors and, investors and taxpayers;
Amendment 678 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 9 a (new)
Annex – part 1 – point 1.1 – paragraph 9 a (new)
Bodies responsible for supervision at supra-national level should be allocated sufficient resources, including staffing, to ensure that they have the necessary operational capacities to carry out their mission.
Amendment 712 #
Motion for a resolution
Annex – part 1 – point 1.2 – paragraph 6
Annex – part 1 – point 1.2 – paragraph 6
A vehicle should be established or designated to provide reassurance that the collective obligation will be met. That vehicle could be the ESM provided that it is granted with a banking licence.
Amendment 713 #
Motion for a resolution
Annex – part 1 – point 1.2 – paragraph 6
Annex – part 1 – point 1.2 – paragraph 6
A vehicle should be established or designated to provide reassurance that the collective obligation will be met. Thatis vehicle could be the ESMmust be managed according to the community method.
Amendment 744 #
Motion for a resolution
Annex – part 1 – point 1.3 – paragraph 6
Annex – part 1 – point 1.3 – paragraph 6
That obligation should be a collective one in the case of Member States whose currency is the euro. A vehicle should be established or designated to provide reassurance that that collective obligation will be met and if required that vehicle needs to be able to intervene directly in institutions under recovery or resolution. This vehicle must be managed according to the community method.
Amendment 745 #
Motion for a resolution
Annex – part 1 – point 1.3 – paragraph 6
Annex – part 1 – point 1.3 – paragraph 6
That obligation should be a collective one in the case of Member States whose currency is the euro. A vehicle should be established or designated to provide reassurance that that collective obligation will be met and if required that vehicle needs to be able to intervene directly in institutions under recovery or resolution. That vehicle could be the ESM provided that it is granted with a banking licence.
Amendment 761 #
Motion for a resolution
Annex – part 2 – point 2.2
Annex – part 2 – point 2.2
Amendment 765 #
Motion for a resolution
Annex – part 2 – point 2.3 – title
Annex – part 2 – point 2.3 – title
Recommendation 2.3: Enhanced cooperation and harmonisation in the field of taxation
Amendment 773 #
Motion for a resolution
Annex – part 2 – point 2.3 – paragraph 1 a (new)
Annex – part 2 – point 2.3 – paragraph 1 a (new)
Moreover, a binding roadmap should be established towards greater tax harmonisation within the internal market, in particular with respect to the taxation of capital, so as to mitigate the negative impact of tax competition.
Amendment 779 #
Motion for a resolution
Annex – part 2 – Point 2.4 – paragraph 1 a (new)
Annex – part 2 – Point 2.4 – paragraph 1 a (new)
As a complement to fiscal discipline at national level, a capacity to reduce cyclical imbalances, address asymmetrical shocks and adequately mitigate structural divergences should be created for Member States whose currency is the euro, amounting to at least 1 % of the Union GDP; this capacity should rely on increased own resources of the Union's budget, notably by introducing specific taxes or fees in accordance with an enhanced cooperation procedure, including a financial transaction tax and the reform of the VAT system; it should be ring-fenced from existing programme in the Union budget Such new euro area tier of the Union budget could be managed and channelled through the ordinary budgetary procedure.
Amendment 784 #
Motion for a resolution
Annex – part 2 – point 2.5 – paragraph 1
Annex – part 2 – point 2.5 – paragraph 1
The free movement of capital cannot be used as a way to avoid tax, in particular for Member States whose currency is the euro and that are experiencing or threatened with serious difficulties with respect to their financial stability in the euro area. Therefore the Commission should swiftly finalise international agreement rounds and table proposals to improve cooperation and coordination between tax authorities, to upgrade and extend the scope of Council Directive 2003/49/EC of 3 June 2003 on a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States1 to effectively end banking secrecy, to reform the accounting rules and corporate accounting disclosure to ensure more transparency, to strengthen country-by-country reporting requirements for cross-border companies, and to oppose tax havens and offshore finance. ______________ 1 OJ L 157, 26.6.2003, p.49.
Amendment 788 #
Motion for a resolution
Annex – part 2 – point 2.5 a (new)
Annex – part 2 – point 2.5 a (new)
Recommendation 2.5a on creating short- term means of fiscal solidarity The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: Alongside the implementation of a reinforced framework to ensure fiscal discipline, including the six-pack and two- pack, the Commission should come forward immediately with a proposal following the ordinary legislative procedure for the creation of common short-term debt securities, or euro bills, aimed at providing immediate conditional support to Member States faced with refinancing difficulties; The liability for euro bills should be joint and several for member states whose currency is the euro. It should be limited in time and as a percentage of total liabilities of recipient Member States Euro bills should be made conditional to growth-enhancing reforms and fiscal policy in the recipient Member States. Euro bills could be issued by the European Financial Stability Facility (EFSM) without the need for a treaty change.
Amendment 789 #
Motion for a resolution
Annex – part 2 – point 2.5 b (new)
Annex – part 2 – point 2.5 b (new)
Recommendation 2.5b on ensuring democratic oversight of the European Stability Mechanism The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: The ESM should evolve towards community-method management and be made accountable to the European Parliament. Key decisions, such as the granting of financial assistance to a Member State and the conclusion of memorandums, should be subject to the consent of the European Parliament. The Troika appointed to ensure the implementation of loan conditionality should be made accountable to the European Parliament. Its mandate should be approved following appropriate consultation with the European Parliament.
Amendment 790 #
Motion for a resolution
Annex – part 2 – point 2.5 c (new)
Annex – part 2 – point 2.5 c (new)
Recommendation 2.5c on a golden rule for public finance The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: Fiscal rules for member states whose currency is the euro should be made anti- cyclical by introducing a distinction between operational government spending and public investments linked to the achievement of the Union's growth strategy; the latter should not be accounted for in the computation of deficits for the purpose of the correction and prevention of excessive deficits.
Amendment 791 #
Motion for a resolution
Annex – part 2 – point 2.5 d (new)
Annex – part 2 – point 2.5 d (new)
Recommendation 2.5 d on exceptional circumstances The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: Ex-ante coordination of fiscal policy for Member States whose currency is the euro should take due account of the economic cycle; to that purpose, the exceptional circumstances referred to in secondary legislation framing the prevention and correction of excessive deficits should include an appropriate definition of cyclical downturn.
Amendment 792 #
Motion for a resolution
Annex – part 2 – point 2.5 e (new)
Annex – part 2 – point 2.5 e (new)
Recommendation 2.5e on ensuring democratic accountability and legitimacy of fiscal coordination The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: All newly created mechanism for fiscal policy coordination should be matched with sufficient provisions to ensure democratic accountability and legitimacy; In particular, all mechanism aimed at coordinating ex-ante the level of government debt and deficit levels should be subject to a legislative proposal in accordance to the ordinary legislative procedure and fully involve the European Parliament.
Amendment 793 #
Motion for a resolution
Annex – part 2 – point 2.5 f (new)
Annex – part 2 – point 2.5 f (new)
Amendment 794 #
Motion for a resolution
Annex – part 3 – point 3.1
Annex – part 3 – point 3.1
Amendment 800 #
Motion for a resolution
Annex – part 3 – point 3.2 – title
Annex – part 3 – point 3.2 – title
Recommendation 3.2 on the better ex-ante coordination of economic policy and improving the European Semester
Amendment 801 #
Motion for a resolution
Annex – part 3 – point 3.2 – paragraph -1 a (new)
Annex – part 3 – point 3.2 – paragraph -1 a (new)
The Commission should bring forward proposals immediately in accordance with the ordinary legislative procedure to translate into secondary legislation the commitments of the Heads of State or Government on 28 June 2012 for a "Growth and Job compact"; In particular, the economic coordination framework should take due account of the commitment of the Member State to "pursuing differentiated growth-friendly fiscal consolidation, respecting the Stability and Growth Pact and taking into account country-specific circumstances" and to promote "investment into future- oriented areas directly related to the economy's growth potential";
Amendment 802 #
Motion for a resolution
Annex – part 3 – point 3.2 – paragraph -1 b (new)
Annex – part 3 – point 3.2 – paragraph -1 b (new)
The Commission should bring forward a legislative proposal in accordance with the ordinary legislative procedure based on Article 136 TFEU to clarify the role and status of the Annual Growth Survey for Member States whose currency is the euro; The European Semester should evolve towards full involvement of the European Parliament and national parliaments, including with respect to country-specific recommendations; In the longer run, a treaty change should allow for the introduction of co-decision powers for the European Parliament, throughout the European Semester process.
Amendment 805 #
Motion for a resolution
Annex – part 3 – point 3.2 – paragraph 1 – indent 1 a (new)
Annex – part 3 – point 3.2 – paragraph 1 – indent 1 a (new)
- National reform programmes (NRPs) and national stability programmes (NSPs) should be closely linked; in particular, budget commitments required for the implementation of NRPs should be reflected in NSPs; adequate monitoring should ensure the coherence of NRPs and NSPs and Union legislation should ensure an operational link between the two instruments;
Amendment 811 #
Motion for a resolution
Annex – part 3 – point 3.2 – paragraph 1 – subparagraph 1 b (new)
Annex – part 3 – point 3.2 – paragraph 1 – subparagraph 1 b (new)
- Incentive mechanisms would reinforce the binding nature of the economic policy coordination;
Amendment 814 #
Motion for a resolution
Annex – part 3 – point 3.2 a (new)
Annex – part 3 – point 3.2 a (new)
Amendment 819 #
Motion for a resolution
Annex – part 4 – point 4.2 – paragraph 1
Annex – part 4 – point 4.2 – paragraph 1
The operations of the EFSF/ESM and any future similar structure, should be subject to regular democratic scrutinycontrol and oversight by the European Parliament.
Amendment 826 #
Motion for a resolution
Annex – part 4 – point 4.4 – title
Annex – part 4 – point 4.4 – title
Recommendation 4.4 on increasing transparency, legitimacy and accountability
Amendment 829 #
Motion for a resolution
Annex – part 4 – point 4.4 – indent 2
Annex – part 4 – point 4.4 – indent 2
- The European Parliament shouldmust be fully involved in the further drafting of the report of the four Presidents, in line with the Community method; this involvement can be organised at working group level (preparatory work) as well as on the Presidential level (decision-taking);
Amendment 832 #
Motion for a resolution
Annex – part 4 – point 4.4 – indent 6
Annex – part 4 – point 4.4 – indent 6
- The Commission troika representative(s) shouldmust be heard in the European Parliament before taking up duties and shouldmust be subject to regular reporting to the European Parliament; the troika's mandate must be approved following appropriate consultation with the European Parliament.
Amendment 834 #
Motion for a resolution
Annex – part 4 – point 4.4 – indent 6 a (new)
Annex – part 4 – point 4.4 – indent 6 a (new)
- the strengthening of the role of Commissioner for Economic and Monetary affaires or the creation of a European treasury office must be linked to adequate means for democratic accountability and legitimacy, involving approbation and control procedures by the European Parliament.
Amendment 837 #
Motion for a resolution
Annex – part 4 – point 4.4 – paragraph -1 a (new)
Annex – part 4 – point 4.4 – paragraph -1 a (new)
- Only the respect of the Community method, Union law and Union institutions can ensure the respect of democratic accountability and legitimacy in the European Union; under the Treaties, the EMU can only be established by the Union.
Amendment 838 #
Motion for a resolution
Annex – part 4 – point 4.4 – paragraph -1 b (new)
Annex – part 4 – point 4.4 – paragraph -1 b (new)
- The currency of the Union is the euro and its parliament is the European Parliament; the future architecture of the EMU must recognise that the European Parliament is the seat of accountability at European level;
Amendment 839 #
Motion for a resolution
Annex – part 4 – point 4.4 – paragraph -1 c (new)
Annex – part 4 – point 4.4 – paragraph -1 c (new)
- the process by which a blueprint for the future of the EMU is elaborated must fully involve the European Parliament in accordance to the community method;