43 Amendments of Diogo FEIO related to 2012/2151(INI)
Amendment 41 #
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 the Union and the Member States objectives, in particular a balanced and sustainable growth and a high level of, sound public finances and employment;
Amendment 54 #
Motion for a resolution
Recital D
Recital D
D. whereas the Union is at a crossroads and a clear direction needs to be chosen either to combine the forces within the Union antaken concerning its future; whereas forces need to be combined to build a future for a strong and value-driven Union in a globalised world, or to fold back on itself and be forced to submit passively to globalisation for lack of power and influence;
Amendment 69 #
Motion for a resolution
Recital F
Recital F
F. whereas there icurrently several Member States gareat concern about the difficult facing a very demanding 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 and considerable financial and economicand considerable instability;
Amendment 79 #
Motion for a resolution
Recital H
Recital H
H. whereas recent events have made clear that the euro area is not sufficientstill not properly equipped to solve thean economic and financial crisis and to react adequately to regional economic shocks within it; whilst the Union has made significant progress in order to overcome such barriers, room for improvement still exists;
Amendment 85 #
Motion for a resolution
Recital I
Recital I
I. whereas the important role played by the euro, both within the euro area and at the global level, as the second most important international reserve currency , risks being increasingly undermined the longer the crisis persistsdemands a strong European response and a coordinated European action to bring back growth and stability to the economy;
Amendment 88 #
Motion for a resolution
Recital J
Recital J
J. whereas over the last decade, notwithstanding its conceptual and practical flaws, the euro has brought Union citizens many benefits, such as price stability, protection against currency fluctuations, the impossibility of non- cooperative competitive devaluations, lower interest rates, the encouragement of the integration of financial markets and easier cross-border capital movement;
Amendment 94 #
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 Union that is decisive and capable of taking far-reaching decisions for a common and prosperous future; whereas the euro should be regarded as an essential step towards a more robust economic and fiscal union;
Amendment 104 #
Motion for a resolution
Recital L a (new)
Recital L a (new)
La. whereas the crisis has demonstrated not only the interdependence between Member States whose currency is the euro but also has made clear the need for a more robust fiscal union with effective mechanisms to correct unsustainable fiscal trajectories, macroecononomic imbalances, debt levels and the upper limits of budget balance of Member States;
Amendment 107 #
Motion for a resolution
Recital N
Recital N
N. whereas Union and national policy makers should continuouslye to explain to their citizens all steps of the policy measures applied; whereas communication is a corner stone of every democracy and represents a necessary pillar to achieve social cohesion; whilst all the benefits of a single currency, including the costs and risks linked to a break up of the euro area;
Amendment 120 #
Motion for a resolution
Recital Q
Recital Q
Q. whereas time is running out and restoring confidence is the main task in order to convincerestoring confidence inside the Union is essential in order to create the conditions for European citizens and enterprises to start reinvesting again in the economy and to create conditions for financial institutions to provide the real economy, once again, with credit on a broad butand sound basis;
Amendment 124 #
Motion for a resolution
Recital R
Recital R
R. whereas the answer to successfully exit the euro crisis isproves to be complex and demands sustained, and multifaceted efforts at all institutional and policy levels;
Amendment 133 #
Motion for a resolution
Recital T
Recital T
T. whereas in order to restoringe confidence also requires thosein the Union, Heads of State and Government and their Ministers musto defend, loyally, in their Member States, the policy decisions they agreed upon at Union level and to explain that; necessary explanation of they subscribed to those policies in the belief that theys desired as wiell safeguard the future of their own citizens; whereas by imputing unpopular decisions to the Union, a particularly dangerous game of perception is being played which risks eroding the Union from below, undermining solidarity and ultimately damaging the European project as a wholeas sharing the common belief that those measures will safeguard the future of their own citizens;
Amendment 135 #
Motion for a resolution
Recital T a (new)
Recital T a (new)
Ta. whereas socially the Union is fragile at the moment; whereas several Member States are under extremely demanding structural reform efforts and consolidation programmes; whereas ultimately political union is the key to overcome to overcome such times, encouraging solidarity and carry on with the European project;
Amendment 140 #
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 solidarityMember States 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 procedure;
Amendment 151 #
Motion for a resolution
Recital W
Recital W
W. whereas it is beyond doubtclear that the European integration is an irreversible and progressivecan become a truly progressive and popular process if Member States meticulously honour their European engagements and if Union institutions strictly respect and thoroughly apply the principle of subsidiarity;
Amendment 169 #
Motion for a resolution
Recital Z
Recital Z
Z. whereas the report drawn up by the four Presidents represents the firsta long-term plan which unambiguously chooses the way forward and seeks to break the cycle of distrust by means of structural measures;
Amendment 185 #
Motion for a resolution
Recital AD
Recital AD
AD. whereas the most probable need for future Treaty changes should not be an obstacle to the swift implementation of what can already be achieved under the existing Treaties; whereas much can be achieved within the current institutional framework;prevent the Union and the Member States from continuing their path towards deeper and more efficient economic and fiscal coordination within the actual legal framework, using all available tools to the full implementation of the 'six pack', the 'two pack' and the Fiscal Compact.
Amendment 188 #
Motion for a resolution
Recital AE
Recital AE
AE. whereas the ambitiongoal should be that all Member States jointly take steps fortowards stronger towards greater European integration; 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 253 #
Motion for a resolution
Recital AO
Recital AO
AO. whereas supervisory authorities in general should detit is part of the role of a supervisory authority to detect and correct problems at an early stage to prevent crises from occurring and maintaining financial stability;
Amendment 303 #
Motion for a resolution
Recital AY
Recital AY
AY. whereas the independence of the European single supervisory mechanism from political and industry influence does not exempt it from explaining, justifying and being accountable to the European Parliament, on a regular basis and whenever the situation requires, for the actions and decisions taken in the field of European supervision, given the impact that supervisory measures may have on public financesneeds to be accountable given the impact and importance of its measures; whereas to achieve the proper and desired political accountability, regular reporting must take place in the European Parliament, banks, employees and customerd whenever the situation requires;
Amendment 363 #
Motion for a resolution
Recital BI
Recital BI
BI. whereas ex-ante planning, early intervention, speed, access to quality information and credibility are essential in managing bank crises;
Amendment 438 #
Motion for a resolution
Recital BW
Recital BW
Amendment 450 #
Motion for a resolution
Recital BY a (new)
Recital BY a (new)
BYa. whereas the creation of a "European Debt Authority" responsible to coordinate all issues related with the annual debt issuance plan of the Member States, the renewal of their outstanding debt and the assessment of the sustainability of all Member States governments debt, as well as a annual publication of data related to Member States public debt, deficit and other macroeconomic indicators and a creditworthiness assessment could be an effective pre-emptive mechanism to avoid future sovereign debt crises;
Amendment 456 #
Motion for a resolution
Recital BZ
Recital BZ
BZ. whereas the common issuance of debt is in the longer run a corollary of EMU within a completely functional economic and monetary union and should not be regarded as an immediate response to the present crisis nor an immediate crisis resolution mechanism;
Amendment 463 #
Motion for a resolution
Recital BZ a (new)
Recital BZ a (new)
BZ a. whereas an enhanced fiscal integration and budgetary discipline are a necessary precondition for the common issuance of debt with joint and several liabilities;
Amendment 472 #
Motion for a resolution
Recital CA a (new)
Recital CA a (new)
CAa. whereas the feasibility of moving towards a system of 'European Safe Bonds' as proposed by 'Euro-nomics' should be envisaged as an immediate tool to reduce pressure on debt markets, without the need for a treaty change; whereas this option does not require joint and several liabilities;
Amendment 489 #
Motion for a resolution
Recital CC
Recital CC
CC. whereas the European Semester offers a good framework to coordinate economic policies implemented at national level in line with the country-specific recomis the valid framework for the effective economic and governance of the euro area Member States that are linked by a joint and common responsibility, bringing together the multilateral surveillance of budgetary and macroeconomic policies and the implemendtations adopted by the Council of the European Strategy for Growth and Jobs as embodied in the 'Europe 2020' Strategy;
Amendment 496 #
Motion for a resolution
Recital CC a (new)
Recital CC a (new)
CCa. whereas the European Semester allows for the necessary ex ante coordination in the euro area context, via the exchange of draft budget plans and the previous discussion of all major economic policy reform plans, allowing the reduction and/or elimination of any possible spill-over effects that may arise from national actions on other countries or on the euro area as a whole;
Amendment 508 #
Motion for a resolution
Recital CE
Recital CE
CE. whereas national economic policies must reflect the reality of membership of EMU within a social market economythe interlinkage that arises from EMU membership;
Amendment 517 #
Motion for a resolution
Recital CG
Recital CG
CG. whereas it is up to the Member States to always deliver without delay on the agreed reforms in their national reform programmes;
Amendment 521 #
Motion for a resolution
Recital CG a (new)
Recital CG a (new)
CGa. whereas the current demand for public sector investment programmes should imply the need for European scrutiny of all programmes with direct impact in the euro area as a whole, using the European Semester tool; whereas such programs should only be agreed upon if they truly represent quality investment; if they are sound and sustainable and if they do not represent any increase in the national debt ratios;
Amendment 530 #
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 reference can be made to the European Parliament's position on the common consolidated corporate tax base (CCCTB) and the financial transactions tax (FTT)as stated by Commission President Barroso in his State of the Union speech;
Amendment 547 #
Motion for a resolution
Recital CJ
Recital CJ
CJ. whereas binding coordination at Union level might be considered for certain key economic policy issues particularly relevant foris crucial in all areas, in particular for those focusing in growth and employment;
Amendment 559 #
Motion for a resolution
Subheading 8
Subheading 8
Amendment 567 #
Motion for a resolution
Recital CM a (new)
Recital CM a (new)
CMa. whereas the single currency as a strong economic pillar is indispensable, therefore it should rest on an enhanced governance and a broader fiscal union to foster fiscal discipline and deeper integration in the internal market;
Amendment 568 #
Motion for a resolution
Recital CM b (new)
Recital CM b (new)
CMb. whereas the European Parliament should become a fully fledged Parliament, like its peers; whereas political leaders and representatives of the Institutions, the agencies and other European bodies should be political accountable before the European Parliament; whereas regular reporting and annually presentations of their work and forecasts should be made before the European Parliament; whereas the European Parliament and national parliaments should reinforce their working tools and fill in the existing gap that still prevails between the national parliaments important cooperation;
Amendment 578 #
Motion for a resolution
Recital CN a (new)
Recital CN a (new)
CNa. whereas a Consultative Committee should be created to play an advisory role to the President of the Commission; whereas such Consultative Committee should be composed of past Commission presidents and should give advice over general political directions and priorities for the European Union; whereas its meetings should convene preferably before the European Council meetings and its recommendations could me made public with the agreement of the President of the Commission;
Amendment 586 #
Motion for a resolution
Recital CP
Recital CP
CP. whereas measures taken at Union level are oftento deal with the current crisis are sometimes perceived as being ‘"too little, too late’" due to the procedures arising from the democratic legislative process, the lack of a European institutional substructure or own Union resources to intervene directly to tackle a crisis situation;
Amendment 589 #
Motion for a resolution
Recital CP a (new)
Recital CP a (new)
CPa. whereas the path to create a fully fledged European budget, with its own resources, should be envisaged; whereas such budget should act as counter-cyclical instrument and as a vehicle for a transfer union;
Amendment 601 #
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 democratic control by, and accountability to, the European Parliament and the national parliaments should be ensured;
Amendment 679 #
Motion for a resolution
Annex – part 1 – point 1.1 – paragraph 9 a (new)
Annex – part 1 – point 1.1 – paragraph 9 a (new)
The ESM should recapitalise banks directly as soon as legislation on the SSM has been approved. A precise and clear calendar for finalising the banking union should be drawn up.
Amendment 716 #
Motion for a resolution
Annex – part 1 – point 1.2 – paragraph 6 a (new)
Annex – part 1 – point 1.2 – paragraph 6 a (new)
Specify that a clear calendar for finalising the banking union should be drawn.
Amendment 747 #
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, as long as recourse to public intervention is activated only in exceptional cases.