Procedure completed
2012/2151(INI) Towards a genuine Economic and Monetary Union
Lead committee dossier: ECON/7/10022
Legal Basis RoP 042
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Opinion | AFCO | GUALTIERI Roberto (S&D) | |
| Opinion | BUDG | LAMASSOURE Alain (EPP) | |
| Lead | ECON | THYSSEN Marianne (EPP) | HOANG NGOC Liem (S&D), IN 'T VELD Sophia (ALDE), GIEGOLD Sven (Verts/ALE), LAMBERTS Philippe (Verts/ALE), STREJČEK Ivo (ECR), MATIAS Marisa (GUE/NGL), ANDREASEN Marta (EFD) |
| Opinion | EMPL | BERÈS Pervenche (S&D) |
Legal Basis RoP 042
Subjects
Activites
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2012/11/20
Text adopted by Parliament, single reading
- T7-0430/2012
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2012/11/20
Prev DG PRES
- DG {'url': 'http://ec.europa.eu/dgs/economy_finance/index_en.htm', 'title': 'Economic and Financial Affairs'}, REHN Olli
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2012/10/24
Committee report tabled for plenary, single reading
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A7-0339/2012
summary
The Committee on Economic and Monetary Affairs adopted a report by Marianne THYSSEN (EPP, BE) with recommendations to the Commission on the report of the Presidents of the European Council, the European Central Bank and the Eurogroup “Towards a genuine Economic and Monetary Union”. The competent committee considers it necessary to place the governance of the Economic and Monetary Union (EMU) 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. The Members call on all institutions to proceed swiftly by maximising the possibilities given by the existing Treaties and their elements of flexibility and at the same time to prepare for the necessary Treaty changes in order to guarantee legal certainty and democratic legitimacy. They reiterate that the option of a new intergovernmental agreement should be excluded. The Members consider that a substantial improvement of the democratic legitimacy and accountability at Union level of the EMU governance by an increased role of Parliament as an absolute necessity and a precondition for any further step toward a banking union, a fiscal union and an economic union. The national parliaments are invited to engage in the process of preparing their governments' fiscal and reform plans before their submission to the Union. Proposals for acts: the Commission is invited to submit to Parliament as soon as possible after consultation of all interested parties, with Parliament being a co-legislator, proposals for acts on following the detailed recommendations: 1) Integrated financial framework: Single supervisory mechanism: · The report recommends that the current Commission proposals on the single European supervisory mechanism should be adopted as soon as possible to ensure the effective application of prudential rules, risk control and crisis prevention concerning credit institutions throughout the Union. The legal basis, form and content of the proposal should provide for the possibility of full participation of all Member States in the European single supervisory mechanism, in a form which ensures the full involvement in the decision making process of the participating Member States whose currency is not the euro. Participation of euro area Member States in the European supervisory mechanism should be mandatory. · The proposal should be subject to democratic and extensive scrutiny by the European Parliament, within the boundaries of the Treaties. · The single supervisory mechanism needs to be accountable to the European Parliament and the Council for the actions and decisions taken in the field of European supervision and should report to the competent committee of the European Parliament. That requires, inter alia, Parliamentary approval of the chairman or chairwoman of the supervisory board of the single supervisory mechanism selected after an open selection procedure. Mechanisms relating to deposit guarantees: · The Commission is called on to do everything possible to ensure that the legislative procedure relating to the recast directive on Deposit Guarantee Schemes can be completed as soon as possible on the basis of the European Parliament's position of 16 February 2012. · Stringent requirements should apply to all deposit guarantee schemes in the Union in order to achieve the same comprehensive protection and the same stability of deposit guarantee schemes and guarantee a level playing field. Options for a single European deposit guarantee fund with functioning deposit guarantee schemes backed by appropriate levels of funding, which therefore enhance credibility and investor confidence, should be explored, once an effective resolution scheme and an effective single supervisory mechanism are working. Recovery and resolution of credit institutions: · The current proposal for a directive establishing a framework for the recovery and resolution of credit institutions and investment firms should be adopted as soon as possible in order to create a European scheme for the application of resolution measures and open up in the medium term the creation of a single European recovery and resolution regime. · Recovery and resolution schemes, as well as deposit guarantee schemes, should have a strong financial, in the first place ex-ante, structure built on contributions from industry. 2) An integrated fiscal framework: · the Commission should be required to implement effectively the compromises that will be reached in the context of the two-pack trilogue negotiations between the European Parliament and the Council; · on the basis of an assessment of the experience with its implementation and in accordance with the TEU and the TFEU, the Fiscal Compact should be transposed into secondary Union legislation as soon as possible; · more must be done to coordinate systems of taxation, and to address harmful tax competition between Member States which is clearly against the logic of an internal market; · the time has come to engage in a progressive return to a situation in which the EU Budget is financed by genuine own resources, which would relieve national budgets accordingly. When formulating policy options, the Commission and the Council should be required to take into account the positions of the European Parliament on the multi-annual financial framework and own resources; · There should be a gradual roll-over of excessive debt into a redemption fund based on the proposal of the German Economic Council of Experts, which foresees the temporary creation of a fund that would be fed with all the debt over 60 % of Member states which fulfil certain criteria; the debt being redeemed over a period of about 25 years; · the European Stability Mechanism (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 proper scrutiny of the European Parliament. The Troika appointed to ensure the implementation of the memorandums should be heard in the European Parliament before taking up duties and should be subject to regular reporting and democratic scrutiny to the European Parliament. 3) An integrated economic policy framework: Better ex-ante coordination of economic policy and improving the European Semester: · The Commission should ensure that the compromises that will be reached in the context of the two-pack trilogue negotiations between the European Parliament and the Council will be implemented effectively; · Union instruments for European social protection and minimum social standards should be diligently explored, including for tackling Youth unemployment, such as a European youth guarantee; · The Commission should put 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”; · The economic coordination framework should take due account of the commitment of the Member State to “pursuing differentiated growth-friendly fiscal consolidation, respecting the SGP and taking into account country-specific circumstances” and to promote “investment into future-oriented areas directly related to the economy's growth potential”; · The European Semester should involve the European Parliament and national parliaments and should be improved taking into account the following points: i) to ensure the close linking of the national reform programmes (NRPs) and national stability programmes (NSPs) should be closely linked; ii) greater synergy between Union and Member State budgets in view of achieving the targets of the Europe-2020 strategy; iii) involvement of regional and local authorities as well as partners in the planning and implementation of relevant programmes should be increased; iv) provision by the Member States of information which is as detailed as possible on the measures and instruments provided for in the national reform programmes to attain the national objectives set. Social pact for Europe: the promotion of high employment and the guarantee of adequate social protection have to be taken into account in defining and implementing the policies and activities of the Union. The specific rules for a binding supervision of the budgetary discipline in the euro area can and should complement fiscal and macroeconomic benchmarks with employment and social benchmarks. A social pact for Europe should be set up to promote: i) youth employment, including initiatives such as a European youth guarantee; ii) high quality and appropriate financing of public services; iii) decent living wages; iv) access to affordable and social housing; v) a social protection floor to guarantee universal access to essential health services regardless of income; vi) the implementation of a social protocol to protect fundamental social and labour rights; vii) equal pay and equal rights for work of equal value for all. The report also makes a series of recommendations relating to strengthening democratic legitimacy and accountability. In particular: · Ecofin and the Eurogroup should be required to transmit to the European Parliament key internal documents, agendas and background material in advance of their meetings; in addition, the president of the Eurogroup should regularly appear before the European Parliament, e.g. in the form of hearings to be organised under the auspices of the European Parliament's Committee for Economic and Monetary Affairs; · the President of the European Parliament should be invited to participate in the European Council meetings and the euro area summits; · when new competences are transferred to or created at Union level or when new Union institutions are established, a corresponding democratic control by, and accountability to, the European Parliament should be ensured.
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A7-0339/2012
summary
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2012/10/15
Vote in committee, 1st reading/single reading
- 2012/10/02 Amendments tabled in committee
- 2012/09/26 Amendments tabled in committee
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2012/09/25
Deadline Amendments
- 2012/09/14 Committee draft report
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2012/09/13
Committee referral announced in Parliament, 1st reading/single reading
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2012/07/05
EP officialisation
Documents
- Committee draft report: PE494.867
- Amendments tabled in committee: PE496.519
- Amendments tabled in committee: PE496.545
- Amendments tabled in committee: PE496.553
- Committee report tabled for plenary, single reading: A7-0339/2012
- Decision by Parliament, 1st reading/single reading: T7-0430/2012
| Amendments | Dossier |
| 969 |
2012/2151(INI)
2012/09/26
ECON
623 amendments...
Amendment 1 #
Motion for a resolution Citation 1 a (new) - having regard to Article 9 of the Treaty on the Functioning of the European Union,
Amendment 10 #
Motion for a resolution Citation 12 Amendment 100 #
Motion for a resolution 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 and economic policies, linked to stricter supervisory instruments and effective enforcement, in particular as regards the effective correction of external imbalances between countries in surplus and those in deficit;
Amendment 101 #
Motion for a resolution Recital L L. whereas euro area membership implies a high degree of economic interdependence between the Member States concerned and therefore requires
Amendment 102 #
Motion for a resolution 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 and economic policies, linked to stricter supervisory instruments and effective enforcement; whereas, however, this greater integration by the Member States whose currency is the euro, possibly supplemented by a group of other willing Member States, needs to be developed in the framework of "two-speeds, one Europe", with the view of avoiding policy steps that would ultimately lead to creation of two different Europes;
Amendment 103 #
Motion for a resolution 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
Amendment 104 #
Motion for a resolution 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 105 #
Motion for a resolution Recital M Amendment 106 #
Motion for a resolution Recital N N. whereas Union and national policy makers should continuously explain to their citizens the benefits of European integration and of a single currency, including the costs and risks linked to a break up of the euro area;
Amendment 107 #
Motion for a resolution Recital N N. whereas Union and national policy makers should continu
Amendment 108 #
Motion for a resolution Recital N N. whereas Union and national policy makers and parliamentarians should continuously explain to their citizens the benefits and possible downsides of a single currency, including the costs and risks linked to a break up of the euro area;
Amendment 109 #
Motion for a resolution Recital N N. whereas Union and national policy makers should continuously explain to their citizens the benefits of a solidarity Union and a single currency, including the costs and risks linked to a break up of the euro area;
Amendment 11 #
Motion for a resolution Citation 13 Amendment 110 #
Motion for a resolution Recital N N. whereas Union and national policy makers should continuously explain to their citizens the benefits, implications and challenges of a single currency, including the costs and risks linked to a break up of the euro area;
Amendment 111 #
Motion for a resolution Recital N N. whereas Union and national policy makers should continuously explain to their citizens the
Amendment 112 #
Motion for a resolution Recital O Amendment 113 #
Motion for a resolution Recital O a (new) Oa. whereas new Member States that are part of an internal enlargement within the EMU should remain part of the EMU automatically;
Amendment 114 #
Motion for a resolution Recital P Amendment 115 #
Motion for a resolution 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 116 #
Motion for a resolution Recital P P. whereas
Amendment 117 #
Motion for a resolution Recital P P. whereas any doubt about the future of EMU in general and the Union's single currency in particular
Amendment 118 #
Motion for a resolution Recital P a (new) Pa. whereas economic and monetary policy making in the Union cannot be based on political ideology, but rather based on thorough economic and financial analysis, rational choices with respect to the introduction of the euro in the yet non-euro area Member States, viable exit strategies from the euro area for defaulting euro area members, and enhanced democratic scrutiny by the European citizens via their national and Union elected representatives;
Amendment 119 #
Motion for a resolution Recital Q Amendment 12 #
Motion for a resolution Citation 14 Amendment 120 #
Motion for a resolution Recital Q Q. whereas
Amendment 121 #
Motion for a resolution Recital Q Q. whereas
Amendment 122 #
Motion for a resolution Recital Q Q. whereas time is running out and
Amendment 123 #
Motion for a resolution Recital Q Q. whereas
Amendment 124 #
Motion for a resolution Recital R R. whereas the answer to successfully exit the euro crisis
Amendment 125 #
Motion for a resolution Recital R R. whereas the answer to the euro crisis is complex and demands sustained, multifaceted efforts at all institutional and policy levels without a priori ruling out any options;
Amendment 126 #
Motion for a resolution Recital R R. whereas the answer to the euro crisis is
Amendment 127 #
Motion for a resolution Recital S S. whereas the Union institutions and the Heads of State and Government of the Member States in general and of the euro area Member States in particular hold the key to working in a credible way on the much-needed restoration of confidence by ensuring greater transparency and democratic legitimacy of, and parliamentary involvement in, the policy decisions proposed;
Amendment 128 #
Motion for a resolution Recital S S. whereas the Union institutions and the Heads of State and Government of the Member States in general and of the euro area Member States in particular
Amendment 129 #
Motion for a resolution Recital T Amendment 13 #
Motion for a resolution Citation 15 Amendment 130 #
Motion for a resolution Recital T Amendment 131 #
Motion for a resolution Recital T Amendment 132 #
Motion for a resolution Recital T T. whereas restoring confidence also requires those Heads of State and Government and their Ministers to
Amendment 133 #
Motion for a resolution Recital T T. whereas in order to restor
Amendment 134 #
Motion for a resolution Recital T T. whereas restoring confidence also requires those Heads of State and Government and their Ministers to
Amendment 135 #
Motion for a resolution 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 136 #
Motion for a resolution Recital U Amendment 137 #
Motion for a resolution Recital U U. whereas the European Council and the euro area summit of 28 and 29 June 2012
Amendment 138 #
Motion for a resolution Recital V Amendment 139 #
Motion for a resolution 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
Amendment 14 #
Motion for a resolution Citation 16 Amendment 140 #
Motion for a resolution Recital V V. whereas
Amendment 141 #
Motion for a resolution Recital V V. whereas the growing divide between
Amendment 142 #
Motion for a resolution 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
Amendment 143 #
Motion for a resolution 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
Amendment 144 #
Motion for a resolution 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 procedure and Europe 2020;
Amendment 145 #
Motion for a resolution 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,
Amendment 146 #
Motion for a resolution Recital V V. whereas the trend for a growing divide between core and peripheral countries in the Union
Amendment 147 #
Motion for a resolution Recital V V. whereas the growing divide
Amendment 148 #
Motion for a resolution Recital V V. whereas the growing divide between core and peripheral countries in the Union
Amendment 149 #
Motion for a resolution Recital V a (new) V a. whereas it is paramount for a return to growth that the internal market is being completed; whereas the Commission as the guardian of the Treaties needs to step up its efforts to enforce implementation of and compliance with existing internal market legislation; whereas for the proper functioning of the internal market it is necessary that market integration rules will be based more on regulations and not on directives;
Amendment 15 #
Motion for a resolution Citation 17 Amendment 150 #
Motion for a resolution Recital W Amendment 151 #
Motion for a resolution Recital W W. whereas it is
Amendment 152 #
Motion for a resolution Recital W W. whereas it is beyond doubt that the European integration is an irreversible and progressive process
Amendment 153 #
Motion for a resolution Recital W W. whereas
Amendment 154 #
Motion for a resolution Recital W W. whereas
Amendment 155 #
Motion for a resolution Recital W W. whereas it is
Amendment 156 #
Motion for a resolution Recital W W. whereas
Amendment 157 #
Motion for a resolution Recital W W. whereas it is beyond doubt that the European integration is a
Amendment 158 #
Motion for a resolution Subheading 1 Amendment 159 #
Motion for a resolution Recital X Amendment 16 #
Motion for a resolution Citation 18 Amendment 160 #
Motion for a resolution Recital X X. whereas from a democratic point of view
Amendment 161 #
Motion for a resolution Recital X X. whereas from a democratic point of view it is incomprehensible that the President of the European Parliament, wh
Amendment 162 #
Motion for a resolution Recital X X. whereas from a democratic point of view it is
Amendment 163 #
Motion for a resolution Recital X a (new) Xa. whereas the step undertaken by the President of the European Council gives the impression that the representatives of the Council try to collect all legislative initiative, legislative and enforcement powers in one hand;
Amendment 164 #
Motion for a resolution Recital Y Y. whereas the time has come for the political leaders of and within the European Union to demonstrate their determination, creativity, courage, resilience and leadership to remove the remaining deficiencies that continue to hamper the proper functioning of EMU, while respecting the rule of law of the Union as enshrined in the Lisbon Treaties;
Amendment 165 #
Motion for a resolution Recital Y Y. whereas the time has come for the political leaders of and within the European Union to demonstrate their determination, creativity, courage, resilience and leadership to remove the remaining deficiencies that continue to hamper the proper functioning of EMU; whereas the intergovernmental method has reached its limits and it is not well suited for democratic and efficient decision-making in 21st century; whereas a leap should be made to a truly federal Europe because political union gives more direct influence to citizens and therefore is more democratic and efficient;
Amendment 166 #
Motion for a resolution Recital Z Amendment 167 #
Motion for a resolution Recital Z Amendment 168 #
Motion for a resolution 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 169 #
Motion for a resolution Recital Z Z. whereas the report drawn up by the four Presidents represents
Amendment 17 #
Motion for a resolution Citation 19 Amendment 170 #
Motion for a resolution Recital Z Z. whereas the report drawn up by the four Presidents represents the first long-term plan which
Amendment 171 #
Motion for a resolution Recital Z Z. whereas the report drawn up by the four Presidents
Amendment 172 #
Motion for a resolution Recital Z a (new) Za. whereas the Council should strengthen its efforts to close negotiations with the European Parliament in many key dossiers for the financial regulation and stability;
Amendment 173 #
Motion for a resolution Recital AA Amendment 174 #
Motion for a resolution Recital AA AA. whereas the European Council of 28 and 29 June 2012 requested its President to develop a specific and time-bound roadmap for the achievement of a genuine EMU; whereas developing a global long- term vision via a road map is an important signal
Amendment 175 #
Motion for a resolution Recital AB AB. whereas steady progress in the implementation of the long-term road map do not provide any immediate solution to the crisis and should not delay the needed short-term measures;
Amendment 176 #
Motion for a resolution 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 177 #
Motion for a resolution Recital AB AB. whereas steady progress in the implementation of the long-term road map should not delay the needed short-term measures, while fully respecting the prerogatives of each institution involved in this latest reform of the EMU;
Amendment 178 #
Motion for a resolution Recital AB AB. whereas steady progress in the implementation of the long-term road map should not delay the urgently needed short- term measures;
Amendment 179 #
Motion for a resolution Recital AC Amendment 18 #
Motion for a resolution Citation 20 Amendment 180 #
Motion for a resolution Recital AC AC. whereas
Amendment 181 #
Motion for a resolution Recital AC AC. whereas it cannot be excluded that new Treaty changes, some of which may be unacceptable in some Member States at the moment might be needed for increasing the governance of a fully operational EMU; whereas the Commission should list
Amendment 182 #
Motion for a resolution Recital AC AC. whereas it cannot be excluded that new Treaty changes might be needed for increasing the governance of a fully
Amendment 183 #
Motion for a resolution Recital AC AC. whereas it cannot be excluded that new Treaty changes might be needed for increasing the
Amendment 184 #
Motion for a resolution Recital AD Amendment 185 #
Motion for a resolution Recital AD AD. whereas the most probable need for future Treaty changes should not
Amendment 186 #
Motion for a resolution Recital AD AD. whereas
Amendment 187 #
Motion for a resolution 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 188 #
Motion for a resolution Recital AE AE. whereas the
Amendment 189 #
Motion for a resolution Recital AE AE. whereas the ambition should be that all Member States jointly take steps forward 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, in
Amendment 19 #
Motion for a resolution Citation 21 Amendment 190 #
Motion for a resolution Recital AE AE. whereas the ambition should be that all Member States of the euro area jointly take steps forward 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 191 #
Motion for a resolution Recital AE AE. whereas the ambition should be that all Member States jointly take steps forward towards greater European integration, based on the solidarity principle; 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 192 #
Motion for a resolution Recital AE AE. whereas the ambition should be that all Member States jointly take steps forward towards greater European integration;
Amendment 193 #
Motion for a resolution Recital AE AE. whereas the ambition should be that
Amendment 194 #
Motion for a resolution Recital AE AE. whereas the
Amendment 195 #
Motion for a resolution Recital AE a (new) AEa. whereas to overcome the structural deficiencies inherent in the EMU and effectively curb the pervasive moral hazard, the proposed 'banking union' should draw on the earlier reform of the Union financial services sector, including the creation of EBA, ESMA, EIOPA and the ESRB, as well as the strengthened economic governance, especially in the euro area, and the new budgetary framework of the European Semester, to ensure greater resilience and competitiveness of the Union banking sector, increased confidence in it, and enhanced capital reserves to prevent Member States' public budgets having to bear the costs of banks' bail-outs in the future;
Amendment 196 #
Motion for a resolution Recital AE a (new) AEa. whereas, in order to safeguard and promote the integrity and coherence of the Union as a whole, the EMU reform process should consistently take the internal market and EU-27 perspectives fully into account;
Amendment 197 #
Motion for a resolution Recital AE a (new) AEa. whereas the single supervisory mechanism has to preserve the unity and integrity of the internal market as a whole;
Amendment 198 #
Motion for a resolution Recital AE b (new) AEb. whereas it should at all times be ensured that no unnecessary or excessive obstacles, tensions or imbalances are created between euro area and non-euro area Member States;
Amendment 2 #
Motion for a resolution Citation 1 a (new) - having regard to Articles 5, 6 and 7 of Protocol No 2 on the application of the principles of subsidiarity and proportionality annexed to the Treaty on European Union and to the Treaty on the Functioning of the European Union,
Amendment 20 #
Motion for a resolution Citation 21 a (new) - having regard to the European Parliament position of 5 July 2011 on the proposal for a directive of the European Parliament and of the Council amending Directive 97/9/EC of the European Parliament and of the Council on investor-compensation schemes (COM(2010)0371 – C7-0174/2010 – 2010/0199(COD))- Schmidt report),
Amendment 200 #
Motion for a resolution Recital AF Amendment 201 #
Motion for a resolution Recital AF AF. whereas the operations within the Union to stabilise the financial system to date
Amendment 202 #
Motion for a resolution Recital AF AF. whereas the operations to stabilise the financial system to date, cannot be called successful
Amendment 203 #
Motion for a resolution Recital AF AF. whereas the
Amendment 204 #
Motion for a resolution Recital AG Amendment 205 #
Motion for a resolution Recital AG AG. whereas the ECB's Treaty-based
Amendment 206 #
Motion for a resolution Recital AG AG. whereas the Treaty-based
Amendment 207 #
Motion for a resolution Recital AG AG. whereas the Treaty-based guaranteed independence of the ECB in the field of monetary policy remains a cornerstone for the credibility of EMU and the single currency which must be reinforced by making the ECB lender of last resort for Member States whose currency is the euro;
Amendment 208 #
Motion for a resolution Recital AG a (new) AG a. whereas Union and national policy makers and parliamentarians should foster public debate on the new role foreseen for the ECB as single banking supervisor of credit institutions in the euro area, especially with respect to the bank's ability to remain independent from political pressure, the scope of its new and overall tasks and the competences left to the national central banks;
Amendment 209 #
Motion for a resolution Recital AG a (new) AGa. whereas the ECB's mandate of stabilising prices and controlling inflation does not match the current economic and financial crisis, and it needs to be adjusted as a matter of urgency so that it is geared to promoting growth and full employment;
Amendment 21 #
Motion for a resolution Citation 22 Amendment 210 #
Motion for a resolution Recital AH Amendment 211 #
Motion for a resolution Recital AH AH. whereas the precarious situation of the banking sector in several Member States threatens the public finances and the cost of management of the banking crisis falls
Amendment 212 #
Motion for a resolution Recital AH AH. whereas the precarious situation of the banking sector in several Member States threatens the public finances and the cost of management of the banking crisis falls
Amendment 213 #
Motion for a resolution Recital AH AH. whereas the precarious situation of the banking sector in several Member States and the Union as a whole threatens the public finances and the cost of management of the banking crisis falls too heavily on taxpayers; whereas the existing mechanisms and structures are insufficient to prevent
Amendment 214 #
Motion for a resolution Recital AH AH. whereas the precarious situation of the banking sector in several Member States threatens the real economy and the public finances, and the cost of management of the banking crisis falls too heavily on taxpayers; whereas the existing mechanisms and structures are insufficient to prevent mutual contagion;
Amendment 215 #
Motion for a resolution 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 216 #
Motion for a resolution Recital AH a (new) AHa. whereas Member States suffer from an apparent mismatch between banks carrying out operations on a European market basis, and contingent liabilities shouldered by their sovereigns; whereas during the current crisis it has become self-evident that the bank-sovereign link is stronger and more damaging within a monetary union, where the internal exchange rate is fixed and there exists no mechanism at Union level to alleviate the costs of bank restructuring.
Amendment 217 #
AHa. whereas the strengthening of banking supervision at Union level constitutes a historical opportunity to bring the shadow banking sector under control; whereas a Union banking authority must enforce the same rules to shadow banks, including on capital requirements, transparency and risk management;
Amendment 218 #
Motion for a resolution Recital AI Amendment 219 #
Motion for a resolution Recital AI AI. whereas breaking up the negative feedback loops between sovereigns, banks and the real economy is crucial for a smooth functioning of EMU; whereas the euro area should establish common tools and pools to restructure and resolve troubled banks, without pushing sovereigns out of the markets and digging economies into depression;
Amendment 22 #
Motion for a resolution Citation 23 Amendment 220 #
Motion for a resolution Recital AI AI. whereas breaking up the
Amendment 221 #
Motion for a resolution Recital AI a (new) AIa. whereas the crisis has created a dispersion of lending rates and has also de facto fragmented the single market for financial services;
Amendment 222 #
Motion for a resolution Recital AI b (new) AIb. whereas advancing towards a euro area banking union would contribute to allay these concerns and it would reduce the probability of troubled banks resulting in disorderly failure due to a weak sovereign, diminish the risk of sovereign collapse, facilitate a consistent approach to cross border coordination, and the financial stability would be significantly enhanced;
Amendment 223 #
Motion for a resolution Recital AJ Amendment 224 #
Motion for a resolution Recital AJ AJ. whereas the European Parliament has repeatedly asserted that there is an urgent need for additional and far-reaching measures to solve the crisis in the banking sector; whereas a distinction should be made between short-term measures to stabilise an acute bank crisis situation and long-term measures
Amendment 225 #
Motion for a resolution Recital AJ AJ. whereas the European Parliament has repeatedly asserted that there is an urgent need for additional and far-reaching measures to solve the crisis in the banking sector; whereas a distinction should be made between short-term measures to stabilise an acute bank crisis situation and medium and long-term measures aimed at the realisation of a fully operational European banking union;
Amendment 226 #
Motion for a resolution Recital AJ AJ. whereas the European Parliament has repeatedly and consistently asserted that there is an urgent need for additional and far-reaching measures to solve the crisis in the banking sector; whereas a distinction should be made between short-term measures to stabilise an acute bank crisis situation and long-term measures aimed at the realisation of a fully operational European banking
Amendment 227 #
Motion for a resolution Recital AK Amendment 228 #
Motion for a resolution Recital AK AK. whereas all measures taken in the context of such a banking union should not hamper the
Amendment 229 #
Motion for a resolution Recital AL Amendment 23 #
Motion for a resolution Citation 24 Amendment 230 #
Motion for a resolution Recital AL AL. whereas all public and private stakeholders of the Union banking sector, including financial institutions and their representatives, should act responsibly and according to high moral standards, serving the real economy;
Amendment 231 #
Motion for a resolution Recital AL AL. whereas financial institutions and their representatives should act responsibly and according to high moral standards, serving the real economy; whereas, if this is not the case and there is proof that they have acted abusively and in bad faith, financial institutions and their representatives should be duly punished;
Amendment 232 #
Motion for a resolution Recital AM Amendment 233 #
Motion for a resolution Recital AM AM. whereas the Union would benefit from proposals that introduce a single European supervisory mechanism for financial institutions
Amendment 234 #
Motion for a resolution Recital AM AM. whereas the
Amendment 235 #
Motion for a resolution Recital AM AM. whereas the Union would benefit from
Amendment 236 #
Motion for a resolution Recital AM AM. whereas the Union would benefit from proposals that introduce a single European supervisory mechanism for financial institutions, a
Amendment 237 #
Motion for a resolution Recital AM AM. whereas the Union would benefit from
Amendment 238 #
Motion for a resolution Recital AM AM. whereas the Union
Amendment 239 #
Motion for a resolution Recital AM AM. whereas the Union would benefit from proposals that introduce a single European supervisory mechanism for financial institutions, a
Amendment 24 #
Motion for a resolution Citation 25 Amendment 240 #
Motion for a resolution 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 241 #
Motion for a resolution Recital AM a (new) AMa. whereas the Commission has not yet proposed two of the main pillars of the banking union (a resolution regime and a deposit guarantee scheme), hence leaving it incomplete;
Amendment 242 #
Motion for a resolution Recital AN Amendment 243 #
Motion for a resolution Recital AN Amendment 244 #
Motion for a resolution Recital AN Amendment 245 #
Motion for a resolution Recital AN AN. whereas the scope of the deposit guarantee and crisis management framework should mirror that of the single supervisory mechanism in terms of the Member States and banks covered (symmetry);
Amendment 246 #
Motion for a resolution Recital AN AN. whereas the scope of the deposit guarantee and crisis management
Amendment 247 #
Motion for a resolution Recital AN AN. whereas there is urgent need for a complete package on the banking union covering all three pillars; whereas the work on them should be done in parallel so that the scope of the deposit guarantee and crisis management framework
Amendment 248 #
Motion for a resolution 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 249 #
Motion for a resolution Recital AN a (new) ANa. whereas the role of lender of last resort is still conferred to national central banks, despite monetary policy being decided by the Eurosystem; whereas the implementation of emergency liquidity assistance (ELA) requires complex ad hoc arrangements prone to execution risks and conflicts with monetary policy objectives;
Amendment 25 #
Motion for a resolution Citation 26 Amendment 250 #
Motion for a resolution Recital AN a (new) ANa. whereas in order to ensure the necessary confidence in the financial market and stability in a common internal market for financial services, with free movement of capital, well endowed and functioning schemes for deposit guarantees and for crisis management in banking throughout the EU are essential;
Amendment 251 #
Motion for a resolution Recital AN b (new) ANb. whereas the development of a banking union should correct this anachronism by formally conferring the role of lender of last resort to the ECB, without endangering its price stability objective; whereas the ECB should set rules on the granting of ELA, which would allow it to improve transparency on its use and to prevent moral hazard more efficiently;
Amendment 253 #
Motion for a resolution Recital AO AO. whereas
Amendment 254 #
Motion for a resolution Recital AO AO. whereas supervisory authorities in general should detect problems at an early stage to prevent crises from occurring and maintaining financial stability and resilience;
Amendment 255 #
Motion for a resolution Recital AP Amendment 256 #
Motion for a resolution Recital AP AP. whereas most of the banking supervisory powers in the Union today remain in the hands of national supervisors with the European Supervisory Authority (European Banking Authority) (EBA), established by Regulation (EU) No 1093/2010[1] in a
Amendment 257 #
Motion for a resolution Recital AP AP. whereas most of the banking supervisory powers in the Union today remain in the hands of national supervisors with the European Supervisory Authority (European Banking Authority) (EBA), established by Regulation (EU) No 1093/2010 in a coordinating role; whereas the current system of national supervision
Amendment 258 #
Motion for a resolution Recital AP a (new) APa. whereas the role of EBA in defining, enforcing and controlling the single rulebook for Union banks is gradually proving useful in sharing of best supervisory practices across the Union;
Amendment 259 #
Motion for a resolution Recital AQ AQ. whereas creating a high-quality and uniform
Amendment 26 #
Motion for a resolution Citation 27 Amendment 260 #
Motion for a resolution Recital AQ AQ. whereas a high-quality and
Amendment 261 #
Motion for a resolution Recital AQ AQ. whereas a high-quality and uniform European supervisory mechanism is
Amendment 262 #
Motion for a resolution Recital AQ a (new) AQa. whereas the single supervisory mechanism is an opportunity to transcend the longstanding home/host issue, under the condition that the transfer of responsibilities and powers to the European supervisory mechanism and any delegation of tasks back to national authorities is symmetric;
Amendment 263 #
Motion for a resolution Recital AR AR. whereas in line with the principle of subsidiarity and proportionality a clear division of operational responsibilities should be agreed between a
Amendment 264 #
Motion for a resolution Recital AR AR. whereas a clear division of operational responsibilities should be agreed between a European supervisory mechanism and the national supervisory authorities, depending on the size and nature of banks and the nature of the supervisory tasks, in application of the principles of proportionality and subsidiarity;
Amendment 265 #
Motion for a resolution Recital AR AR. whereas a clear division of operational responsibilities should be agreed between a European supervisory mechanism and the national supervisory authorities, depending on the
Amendment 266 #
Motion for a resolution Recital AR a (new) ARa. whereas national authorities would be able to adopt additional measures aimed at addressing macro-prudential or systemic risk identified at the level of a Member State to further enhance the stability granted by European supervision;
Amendment 267 #
Motion for a resolution Recital AS Amendment 268 #
Motion for a resolution Recital AS AS. whereas the European level of supervision should have ultimate responsibility for all financial institutions within the countries included in the system, particularly for the guidance of national supervisory authorities
Amendment 269 #
Motion for a resolution Recital AS AS. whereas the European level of supervision should have ultimate responsibility for all financial institutions within the euro area countries included in the system, for the guidance of national supervisory authorities and for determining the overall strategic supervisory framework;
Amendment 27 #
Motion for a resolution Citation 28 Amendment 270 #
Motion for a resolution Recital AS AS. whereas the European level of
Amendment 271 #
Motion for a resolution Recital AS AS. whereas the European level of supervision should have ultimate responsibility for all financial institutions within the countries included in the system, for the guidance of national supervisory authorities and for determining the overall strategic supervisory framework; however, banks and savings banks should be analysed with different standards according to their size;
Amendment 272 #
Motion for a resolution Recital AT AT. whereas European supervision of
Amendment 273 #
Motion for a resolution Recital AT AT. whereas European supervision of financial institutions within
Amendment 274 #
Motion for a resolution Recital AT AT. whereas European supervision of financial institutions within the euro area is an absolute priority
Amendment 275 #
Motion for a resolution Recital AT AT. whereas European supervision of financial institutions within the euro area is an absolute priority to take measures to tackle the crisis, it should be, however, ensured that, for the purpose of internal financial market stability, countries whose currency is not the euro, which decide to access the single supervision mechanism, should be granted a participation formula, which guarantees symmetric relations between accepted obligations and impact on decision-making;
Amendment 276 #
Motion for a resolution Recital AT AT. whereas improved financial market regulation and European supervision of financial institutions within the euro area is an absolute priority to take measures to tackle the crisis;
Amendment 277 #
Motion for a resolution Recital AT a (new) ATa. whereas the consequences of the establishment of a euro area supervisory authority on non-euro area Member States should be taken into account;
Amendment 278 #
Motion for a resolution Recital AT a (new) ATa. whereas the report of the High-Level Group on Financial Supervision chaired by Jacques de Larosière, submitted to the President of the Commission on 25 February 2009, explicitly recommended that the ECB should not be responsible for micro-prudential supervision;
Amendment 279 #
Motion for a resolution Recital AT b (new) ATb. whereas the following main reasons why de Larosière report states that the ECB should not be responsible for micro- prudential supervision should be taken seriously: - the ECB's fundamental mandate is monetary stability; - jeopardising the ECB's independence due to political pressure and interference in case of a crisis; - a number of ECB/ESCB members have no competence in terms of supervision; - conferring responsibilities to the ECB/Eurosystem would not provide for a comprehensive, integrated system of supervision; - the ECB is not entitled by the Treaty to deal with insurance companies, which can pose a major problem for financial stability;
Amendment 28 #
Motion for a resolution Citation 28 – having regard to its
Amendment 280 #
Motion for a resolution Recital AU Amendment 281 #
Motion for a resolution Recital AU Amendment 282 #
Motion for a resolution Recital AU AU. whereas, for reasons of efficiency and quick action,
Amendment 283 #
Motion for a resolution Recital AU AU. whereas
Amendment 284 #
Motion for a resolution Recital AU AU. whereas, for reasons of efficiency and quick action, it is recommended to confer
Amendment 285 #
Motion for a resolution Recital AU a (new) AUa. whereas any major shift in supervision to other institutions has to be accompanied by an equal improvement of transparency, employee participation and accountability of the institutions implementing it, particularly through efficient democratic control, namely a greater role for the European Parliament in the designation of the presidency in both EBA and the ECB;
Amendment 286 #
Motion for a resolution 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 287 #
Motion for a resolution Recital AV AV. whereas the Commission recommends that 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
Amendment 288 #
Motion for a resolution Recital AV AV. whereas
Amendment 289 #
Motion for a resolution Recital AW Amendment 29 #
Motion for a resolution Citation 29 Amendment 290 #
Motion for a resolution Recital AW AW. whereas it is of paramount importance that efficient safeguards are introduced to avoid conflicts of interest between the ECB's monetary policy and its supervisory powers; whereas any possible erosion of the ECB's authority for monetary policy needs to be excluded by the setting up within the ECB of a legally independent supervisory board;
Amendment 291 #
Motion for a resolution Recital AW AW. whereas it is of paramount importance that effective safeguards are introduced to avoid conflicts of interest between the ECB's monetary policy and its supervisory powers; whereas any possible erosion of the ECB's authority for monetary policy as well as any erosion of supervisory powers due to monetary policy imperatives need
Amendment 292 #
Motion for a resolution Recital AW AW. whereas
Amendment 293 #
Motion for a resolution Recital AW a (new) AWa. whereas the proposed ECB's single supervisory role over E-SIFIs and D- SIFIs should be carefully assessed against the backdrop of the ESRB's role in identifying and preventing systemic risks susceptible to impact on the Union as a whole;
Amendment 294 #
Motion for a resolution Recital AW a (new) AWa. whereas it should be ensured that the internal decision-making procedures of the single supervisory mechanism are carefully calibrated so that the views and concerns of closely cooperating non-euro area Member States are given the same consideration and weight as those of the euro area Member States;
Amendment 295 #
Motion for a resolution Recital AW a (new) AWa. whereas the European Parliament strongly favours merging the existing European Supervisory Authorities for the establishment of a single supervisory mechanism responsible for micro- prudential supervision;
Amendment 296 #
Motion for a resolution Recital AX Amendment 297 #
Motion for a resolution Recital AX AX. whereas the ECB and EBA will need appropriate budgetary and human resources to ensure an objective and integrated oversight of the European banking system;
Amendment 298 #
Motion for a resolution Recital AX AX. whereas the ECB and EBA will need appropriate budgetary and human resources to ensure an objective and integrated oversight of the European banking system;
Amendment 299 #
Motion for a resolution Recital AX AX. whereas the ECB will need appropriate budgetary and human resources to ensure
Amendment 3 #
Motion for a resolution Citation 3 Amendment 30 #
Motion for a resolution Citation 30 Amendment 300 #
Motion for a resolution Recital AX AX. whereas
Amendment 301 #
Motion for a resolution Recital AX a (new) AXa. whereas the coordination and the expression of a common position of relevant national competent authorities by the ECB within the EBA board required by the single supervisory mechanism needs an appropriate, well-designed and democratically accountable decision making process adopted under the ordinary legislative procedure;
Amendment 302 #
Motion for a resolution Recital AY Amendment 303 #
Motion for a resolution Recital AY AY. whereas the
Amendment 304 #
Motion for a resolution Recital AY AY. whereas the independence of the
Amendment 305 #
Motion for a resolution Recital AY AY. whereas the operational 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 finances, banks, employees and customers; whereas an effective democratic accountability requires inter alia nomination, inquiry, investigation as well as budgetary scrutiny powers conferred to the European Parliament;
Amendment 306 #
Motion for a resolution Recital AZ AZ. whereas the head of the European single supervisory mechanism should be appointed after a hearing in, and confirmation by, the European Parliament, and whereas the European Parliament is represented by three members on the Supervisory Board of the ECB;
Amendment 307 #
Motion for a resolution Recital AZ AZ. whereas the head of the
Amendment 308 #
Motion for a resolution Recital AZ AZ. whereas the head of the European single supervisory mechanism should be appointed
Amendment 309 #
Motion for a resolution Recital BA Amendment 31 #
Motion for a resolution Citation 31 Amendment 310 #
Motion for a resolution Recital BA BA. whereas
Amendment 311 #
Motion for a resolution Recital BA BA. whereas
Amendment 312 #
Motion for a resolution Recital BA BA. whereas it is a major achievement that in the future and in any case as soon as possible the European Stability Mechanism (ESM) will, under c
Amendment 313 #
Motion for a resolution Recital BA a (new) BAa. whereas, in order to maintain the integrity and coherence of the internal market in the field of financial services following the establishment of the single supervisory mechanism, the proper and efficient functioning of the EBA needs to be ensured;
Amendment 314 #
Motion for a resolution Recital BB BB. whereas
Amendment 315 #
Motion for a resolution Recital BB BB. whereas a single set of rules (single rule book), to be developed by EBA, should ensure fully harmonised rules and their uniform application across the Union; whereas the completion of the single rule book on banking supervision and more broadly harmonised and enhanced prudential requirements
Amendment 316 #
Motion for a resolution Recital BB BB. whereas
Amendment 317 #
Motion for a resolution Recital BB a (new) BBa. whereas, following the creation of the single supervisory mechanism, voting rules within the EBA should be carefully adapted so that constructive cooperation between euro area and non-euro area Member States is facilitated and so that the interests of all Member States are fully taken into account;
Amendment 318 #
Motion for a resolution Recital BB a (new) BBa. whereas a proper monitoring and review mechanism should be set up in the regulation to safeguard that the increased integration within the euro area will not have unintended negative stability and economic consequences outside euro area, and any such effect can be handled as a matter of urgency;
Amendment 32 #
Motion for a resolution Citation 32 Amendment 321 #
Motion for a resolution Recital BC Amendment 322 #
Motion for a resolution Recital BC BC. whereas deposit guarantee schemes are only one type of instrument which should guarantee financial stability; whereas they are part of a larger financial safety net consisting of regulation, prudential supervision, deposit protection
Amendment 323 #
Motion for a resolution Recital BC BC. whereas deposit guarantee schemes are only one type of instrument which should
Amendment 324 #
Motion for a resolution Recital BC BC. whereas deposit guarantee schemes are only one type of instrument which
Amendment 325 #
Motion for a resolution Recital BC a (new) BCa. whereas in certain jurisdictions alternative methods to funded deposit guarantee schemes, such as depositor preference or top-down recapitalisation mechanisms may provide appropriate and effective ways of protecting depositors and ensuring financial stability;
Amendment 326 #
Motion for a resolution Recital BD Amendment 327 #
Motion for a resolution Recital BD BD. whereas deposit guarantee schemes
Amendment 328 #
Motion for a resolution Recital BD BD. whereas deposit guarantee schemes, considered though their various institutional forms (paybox, risk manager, risk minimiser or IPS), have played an important role during the financial crisis to protect the assets of depositors, maintain financial stability, avoid bank runs and re- gain depositor confidence;
Amendment 329 #
Motion for a resolution Recital BD BD. whereas deposit guarantee schemes have played an important role during the financial crisis to protect the assets of depositors, maintain financial stability, avoid bank runs and pre
Amendment 33 #
Motion for a resolution Citation 33 Amendment 330 #
Motion for a resolution Recital BE Amendment 331 #
Motion for a resolution Recital BE BE. whereas a balance should be struck between, on the one hand, an excessive protection of risks taken by financial institutions, which increases the risk of moral hazard
Amendment 332 #
Motion for a resolution Recital BE BE. whereas
Amendment 333 #
Motion for a resolution Recital BF Amendment 334 #
Motion for a resolution Recital BF Amendment 335 #
Motion for a resolution Recital BF BF. whereas
Amendment 336 #
Motion for a resolution Recital BF BF. whereas after the increase of the deposit protection to a uniform Union level of EUR 100 000 per depositor and per credit institution, the current Commission proposal for a
Amendment 337 #
Motion for a resolution Recital BF BF. whereas after the increase of the deposit protection to a uniform Union level of EUR 100 000 the current Commission proposal for a European system of deposit guarantees is another step in the right direction; whereas the Commission proposal mainly aims at the harmonisation of national systems in the area of the offered guarantees as well as their financing; whereas the European deposit guarantee scheme should become a single European system rather than a combination of national deposit guarantee schemes;
Amendment 338 #
Motion for a resolution Recital BF BF. whereas after the increase of the deposit protection to a uniform Union level of EUR 100 000 the current Commission proposal for a European system of deposit guarantees is another step in the right direction, even though new steps are urgently required; whereas the Commission proposal mainly aims at the harmonisation of national systems in the area of the offered guarantees as well as their financing and some provisions regarding the coordination of national deposit guarantee schemes instead of a more ambitious Union level joint guarantees and burden sharing;
Amendment 339 #
Motion for a resolution Recital BF a (new) BFa. whereas in order to implement the new financial architecture it is essential to urgently unblock the negotiations on the Deposit Guarantee Schemes and the Investor Compensation Scheme Directive, on which negotiations between the European Parliament and the Council are suspended, despite their crucial importance in providing common mechanisms to resolve banks and guarantee customer deposits;
Amendment 34 #
Motion for a resolution Citation 33 a (new) - having regard to its resolution of 13 September 2012 "Towards a Banking Union",
Amendment 340 #
Motion for a resolution Recital BF b (new) BFb. whereas for the achievement of a genuine Economic and Monetary Union, which will include concrete proposals on preserving the unity and integrity of the internal market for financial services, progress on these two key pieces of European legislation is urgently needed;
Amendment 341 #
Motion for a resolution Recital BG Amendment 342 #
Motion for a resolution Recital BG Amendment 343 #
Motion for a resolution Recital BG Amendment 344 #
Motion for a resolution Recital BG BG. whereas the introduction of a single
Amendment 345 #
Motion for a resolution Recital BG BG. whereas the introduction of a single European deposit guarantee fund
Amendment 346 #
Motion for a resolution Recital BG BG. whereas the introduction of a single European deposit guarantee fund should be the ultimate goal, further increasing the credibility of the scheme; the development of a similar scheme is justified considering the introduction of a European structure for prudential supervision and a European recovery and resolution framework; whereas for the short term the adoption of the current deposit guarantee scheme and crisis resolution framework proposals has absolute priority;
Amendment 347 #
Motion for a resolution Recital BG BG. whereas the introduction of a single European deposit guarantee fund should be the ultimate goal, further increasing the credibility of the scheme; the development of a similar scheme is justified considering the introduction of a European structure for prudential supervision and a European recovery and resolution framework; whereas the Commission is expected to release an upgraded legislative proposal in the coming months for an enhanced deposit guarantee scheme for the euro area;
Amendment 348 #
Motion for a resolution Recital BG BG. whereas
Amendment 349 #
Motion for a resolution Recital BG BG. whereas the introduction of a single European deposit guarantee fund should
Amendment 35 #
Motion for a resolution Citation 35 Amendment 350 #
Motion for a resolution Recital BH Amendment 351 #
Motion for a resolution Recital BH Amendment 352 #
Motion for a resolution Recital BH BH. whereas a single deposit guarantee scheme should cover all banks within the countries included in the system in order to guarantee a level playing field and avoid deposit flight from uncovered to covered financial institutions, be partly financed by banks ex ante by levies or contributions till it has sufficient resources to provide a credible guarantee, and have access to ESM funding if necessary;
Amendment 353 #
Motion for a resolution Recital BH BH. whereas a single deposit guarantee scheme should cover all banks within the
Amendment 354 #
Motion for a resolution Recital BH BH. whereas a
Amendment 355 #
Motion for a resolution Recital BH BH. whereas a single deposit guarantee scheme respecting the plurality of models should cover all banks within the countries included in the system in order to guarantee a level playing field and avoid deposit flight from uncovered to covered financial institutions;
Amendment 356 #
Motion for a resolution Recital BH BH. whereas a single European deposit guarantee
Amendment 357 #
Motion for a resolution Recital BH BH. whereas a single deposit guarantee scheme should cover all banks within the countries included in the system in order to guarantee a level playing field and avoid deposit flight from uncovered to covered financial institutions while ensuring an adequate synergy between deposit guarantee schemes and resolution funds. Synergies between resolution and deposit guarantee schemes are critical as resolution actions are mostly intended to ensure the continuity of banking services and access to deposits;
Amendment 36 #
Motion for a resolution Recital A A. whereas since the signing of the Treaty of Rome the European Union has
Amendment 360 #
Motion for a resolution Subheading 5 Single
Amendment 362 #
Motion for a resolution Recital BI Amendment 363 #
Motion for a resolution Recital BI BI. whereas ex-ante planning, early intervention, speed, access to quality information and credibility are essential in managing bank crises;
Amendment 364 #
Motion for a resolution Recital BI BI. whereas speed, proactive and early intervention, due diligence, access to quality information and credibility are essential in managing bank crises; whereas the overall purpose of an effective resolution scheme and recovery framework is to minimise the potential use of tax payer resources needed for the recovery and resolution of banking institutions;
Amendment 365 #
Motion for a resolution Recital BI BI. whereas sufficient instruments, speed, access to quality information and credibility are essential in managing bank crises;
Amendment 366 #
Motion for a resolution Recital BI a (new) BIa. whereas the dismantling a banking group should be an option even at the initial stage both in order to decrease risk in the banking sector arising from the 'too big to fail' problem as well as in order to ensure that no private customer deposit or central bank liquidity support is used by universal banks for refinancing high-risk investments;
Amendment 367 #
Motion for a resolution Recital BJ Amendment 368 #
Motion for a resolution Recital BJ BJ. whereas a single European recovery and resolution
Amendment 369 #
Motion for a resolution Recital BJ BJ. whereas a single
Amendment 37 #
Motion for a resolution Recital A a (new) Aa. whereas the report of the Presidents of the European Council, the European Commission, the European Central Bank and the Eurogroup 'Towards a genuine Economic and Monetary Union' is to be welcomed as a vision for the Monetary Union; points out that any further integration needs a solid and reliable fundament consisting of a sound and efficient framework for resolution and recovery of financial institutions, a sound and efficient deposit guarantee framework and sound capital requirements without which no overarching structure such as a "genuine EMU" will be able to exist; calls therefore to wait with the building up of any such structure as long as these three proposals are not yet adopted.
Amendment 370 #
Motion for a resolution Recital BJ BJ. whereas a single European recovery and resolution authority (ERRA) should be established
Amendment 371 #
Motion for a resolution Recital BJ BJ. whereas a single European recovery and resolution authority (ERRA) should be established,
Amendment 372 #
Motion for a resolution Recital BJ BJ. whereas a single European recovery and resolution authority (ERRA) should be established
Amendment 373 #
Motion for a resolution Recital BK Amendment 374 #
Motion for a resolution Recital BK Amendment 375 #
Motion for a resolution Recital BK BK. whereas the ERRA
Amendment 376 #
Motion for a resolution Recital BK BK. whereas the ERRA, once fully operational, will be able to work more efficiently, more promptly and more consistently than a network of national recovery and resolution authorities, avoiding the negative consequences of purely national decisions, breaking the negative feedback loop between banks and sovereigns and eliminating the need for ad hoc intergovernmental crisis solutions;
Amendment 377 #
Motion for a resolution Recital BK a (new) BKa. whereas it is essential that any proposal for a new single recovery and resolution mechanism for the euro area respects and has regard for the maintenance of financial stability in all parts of the Union, and in particular is sensitive to the nature of intra-group arrangements and financial transfers within cross-border banking groups, as well as the relationship between "home" and "host" Member States, some of which may be outside the euro area;
Amendment 378 #
Motion for a resolution Recital BL Amendment 379 #
Motion for a resolution Recital BL Amendment 38 #
Motion for a resolution Recital A a (new) Aa. whereas the report of the Presidents of the European Council, the European commission, the European Central Bank and the Eurogroup 'Towards a genuine Economic and Monetary Union' is to be welcomed as a vision for the Monetary Union; points out that any further integration needs a solid and reliable fundament consisting of a sound and efficient framework for resolution and recovery of financial institutions, a sound and efficient deposit guarantee framework and sound capital requirements without which no overarching structure such as a "genuine EMU" will be able to exist; calls that any such structure shall be built in accordance with these three proposals.
Amendment 380 #
Motion for a resolution Recital BL Amendment 381 #
Motion for a resolution Recital BL BL. whereas the ERRA, whenever the situation requires, needs to explain and justify and should be accountable to the European Parliament and the Council for the actions and decisions taken in the field of
Amendment 382 #
Motion for a resolution Recital BM Amendment 383 #
Motion for a resolution Recital BM Amendment 384 #
Motion for a resolution Recital BM Amendment 385 #
Motion for a resolution Recital BM BM. whereas the head of the ERRA should be appointed after a hearing in and
Amendment 386 #
Motion for a resolution Recital BM BM. whereas the head of the ERRA should be appointed
Amendment 387 #
Motion for a resolution Recital BN BN. whereas the Commission proposal on recovery and resolution tools for euro area banks in crisis
Amendment 388 #
Motion for a resolution Recital BN BN. whereas the Commission proposal on recovery and resolution tools for banks in crisis is a step in the right direction, even though their funding will not be sufficient in the event that genuine bank resolution is necessary;
Amendment 389 #
Motion for a resolution Recital BN BN. whereas the Commission proposal on recovery and resolution tools for banks in crisis is a step in the right direction; whereas the Commission is expected to release an upgraded legislative proposal for an enhanced recovery and resolution framework for the euro area;
Amendment 39 #
Motion for a resolution Recital B Amendment 390 #
Motion for a resolution Recital BO Amendment 391 #
Motion for a resolution Recital BO BO. whereas
Amendment 392 #
Motion for a resolution Recital BO BO. whereas progress also must be made to create a single European recovery and resolution fund which is essential to guarantee at all times the stability of the financial system and to manage the resolution of financial institutions, whatever their size or nature, while safeguarding public finances; whereas it should be taken into account that certain specific banking sectors have already implemented recovery and resolution tools, with no reliance on or support from public finances and that such approach should be recognised, promoted and articulated within the single recovery and resolution scheme;
Amendment 393 #
Motion for a resolution Recital BO BO. whereas progress also must be made to create a single European recovery and resolution fund which is essential to guarantee at all times the stability of the financial system and to manage the resolution of financial institutions, whatever their size or nature, while safeguarding public finances and reducing to the minimum extent possible the use of tax payer resources;
Amendment 394 #
Motion for a resolution Recital BO BO. whereas progress also must be made to create a single European recovery and resolution
Amendment 395 #
Motion for a resolution Recital BP Amendment 396 #
Motion for a resolution Recital BP BP. whereas it is necessary for the protection of private savings to keep separate
Amendment 397 #
Motion for a resolution Recital BP BP. whereas it is necessary for the protection of private savings to keep separate
Amendment 398 #
Motion for a resolution Recital BP BP. whereas it is necessary for the protection of private savings to keep
Amendment 399 #
Motion for a resolution Recital BP BP. whereas, in the Union, it is necessary for the protection of private savings either to keep separate
Amendment 4 #
Motion for a resolution Citation 4 Amendment 40 #
Motion for a resolution 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 400 #
Motion for a resolution Recital BQ Amendment 401 #
Motion for a resolution Recital BQ BQ. whereas
Amendment 402 #
Motion for a resolution Recital BQ BQ. whereas
Amendment 403 #
Motion for a resolution Recital BQ BQ. whereas European resolution and deposit guarantee mechanisms should have a strong financial structure built on contributions from the industry, w
Amendment 404 #
Motion for a resolution Recital BQ BQ. whereas European resolution and deposit guarantee mechanisms should have a strong financial structure built on risk- adjusted contributions from the industry, with European public money only serving as an ultimate backstop to be reduced to its minimum extent possible; whereas a far reaching single toolbox and ladder of intervention are required for an effective single resolution framework;
Amendment 405 #
Motion for a resolution Recital BR Amendment 406 #
Motion for a resolution Recital BR Amendment 407 #
Motion for a resolution Recital BR BR. whereas if the ESM is chosen to work as an additional fiscal safety net for the financial institutions in the euro area, sufficient financial resources have to be foreseen to perform these additional missions in a credible manner; whereas the ESM should be integrated into the Union acquis;
Amendment 409 #
Motion for a resolution Recital -BS a (new) -BSa. whereas five years on from the burst of turmoil in financial markets, the euro area lingers in crisis, lagging far behind other economic areas on the track to recovery, and to a large extent this is due to flaws in the current EMU framework;
Amendment 41 #
Motion for a resolution 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
Amendment 410 #
Motion for a resolution Recital -BS b (new) -BSb. whereas in this regard, the report Towards a Genuine Economic and Monetary Union presented by the Four Presidents to the European Council marks an important step forward, as it acknowledges that "the smooth functioning of the EMU requires not only the swift and vigorous implementation of the measures already agreed under the reinforced economic governance framework (notably the Stability and Growth Pact and the Treaty on Stability, Coordination and Governance), but also a qualitative move towards a fiscal union";
Amendment 411 #
Motion for a resolution Recital -BS c (new) -BSc. whereas in line with the report "Towards a genuine Economic and Monetary Union" a fully-fledged fiscal union should include a risk-sharing arrangement through a common budget or backstop, enhanced fiscal oversight through a joint decision-making and oversight by a European Budget Authority, and debt pooling mechanisms that would result in the creation of a single sovereign debt market;
Amendment 412 #
Motion for a resolution 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 413 #
Motion for a resolution Recital BS BS. whereas sound public finances and balanced budgets 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; whereas policies on investment and the mutualisation of short-term debt are necessary in order to achieve economic and financial stability;
Amendment 414 #
Motion for a resolution Recital BS BS. whereas sound public finances and credible plans for balanced budgets over the cycle 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 415 #
Motion for a resolution Recital BS BS. whereas sound public finances and
Amendment 416 #
Motion for a resolution Recital BS a (new) BSa. whereas the Union budget must play a crucial role in order to successfully reduce macroeconomic and social imbalances throughout the Union and thereby restoring the conditions for a sustainable monetary union;
Amendment 417 #
Motion for a resolution Recital BT Amendment 418 #
Motion for a resolution Recital BT BT. whereas the smooth functioning of
Amendment 419 #
Motion for a resolution Recital BT BT. whereas the current severe economic downturn in the euro area requires more resolute action from the Commission in order to fully and proactively use the flexibilities embedded in Union fiscal rules allowing a differentiated path for budgetary consolidation taking into account country specific circumstances and the particular care to be provided to prioritising investments in future-oriented areas; whereas the smooth functioning of EMU requires a full and swift implementation of the measures already agreed upon under the reinforced economic governance framework
Amendment 42 #
Motion for a resolution Recital B B. whereas the economic and monetary union (EMU) is not a
Amendment 420 #
Motion for a resolution Recital BT BT. whereas the smooth functioning of EMU requires a full and swift implementation of the measures already agreed upon under the reinforced economic governance framework (such as the reinforced SGP and the Fiscal Compact which has to be integrated in the Union law as soon as possible);
Amendment 421 #
Motion for a resolution Recital BT BT. whereas the smooth functioning of EMU requires a full and swift implementation of the measures already agreed upon under the reinforced economic governance framework
Amendment 422 #
Motion for a resolution 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 423 #
Motion for a resolution Recital BT a (new) BTa. whereas political decisions taken at Union level are highly preferable to monetary action in order to solve the EMU debt crisis;
Amendment 424 #
Motion for a resolution Recital BU Amendment 425 #
Motion for a resolution 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 426 #
Motion for a resolution Recital BU BU. whereas the crisis has m
Amendment 427 #
Motion for a resolution Recital BU BU. whereas the crisis has made clear the need for a qualitative step towards a more
Amendment 428 #
Motion for a resolution Recital BU BU. whereas the crisis has made clear the need for a qualitative step towards a more robust fiscal union with more effective mechanisms to correct unsustainable fiscal and macro-financial trajectories, debt levels and set the upper limits of budget balance of Member States;
Amendment 429 #
Motion for a resolution Recital BU BU. whereas the crisis has made clear the need for a qualitative step towards a more robust fiscal union with an increase of the own-resources of the Union and more effective mechanisms to correct unsustainable fiscal trajectories, debt levels and set the upper limits of budget balance of Member States;
Amendment 430 #
Motion for a resolution Recital BU BU. whereas the crisis has made clear the need for a qualitative step towards a more robust fiscal union with more effective mechanisms to
Amendment 431 #
Motion for a resolution Recital BV Amendment 432 #
Motion for a resolution Recital BV Amendment 433 #
Motion for a resolution Recital BV BV. whereas supplementary mechanisms
Amendment 434 #
Motion for a resolution Recital BV BV. whereas supplementary mechanisms are needed to ensure that all Member States respect their engagements in their individual budgetary procedures, where it cannot be excluded that the role of the European Parliament and the Commissioner for Economic and Monetary Affairs needs to be reinforced;
Amendment 435 #
Motion for a resolution Recital BV BV. whereas supplementary mechanisms
Amendment 436 #
Motion for a resolution Recital BV a (new) BVa. whereas in order to ensure adequate implementation of fiscal policies and regulations, a European Budget Authority could be mandated to oversee budget execution by national governments;
Amendment 437 #
Motion for a resolution Recital BV a (new) BVa. therefore urges for the establishment of a European redemption fund as the best solution for mitigating the crisis and bringing down debt to sustainable levels and calls for setting up of a European treasury, headed by a European finance minister, individually accountable to the European Parliament ;
Amendment 438 #
Motion for a resolution Recital BW Amendment 439 #
Motion for a resolution Recital BW Amendment 44 #
Motion for a resolution Recital C Amendment 440 #
Motion for a resolution Recital BW BW. whereas the trilogue negotiations on the so-called ‘two-pack’ regulations should soon lead to concrete political results
Amendment 441 #
Motion for a resolution Recital BW BW. whereas the trilogue negotiations on the so-called
Amendment 442 #
Motion for a resolution Recital BW BW. whereas the trilogue negotiations on the so-called
Amendment 443 #
Motion for a resolution Recital BX Amendment 444 #
Motion for a resolution Recital BX Amendment 445 #
Motion for a resolution Recital BX BX. whereas
Amendment 446 #
Motion for a resolution Recital BX BX. whereas
Amendment 447 #
Motion for a resolution 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; whereas financial assistance mechanisms such as the ESM are less rapidly deployable than conventional budgetary mechanisms; therefore strongly favours European Monetary Fund built upon the ESM, which is fully enshrined in Union law;
Amendment 448 #
Motion for a resolution Recital BX a (new) BXa. whereas common debt issuance of the euro area Member States, if backed by joint or several guarantees, risks triggering contagion, including rating downgrades for all participants, in the case of severe macroeconomic imbalances in the euro area, and whereas a downgrading of ratings of the euro area may also negatively impact on the creditworthiness and ratings of non-euro area Member States, thus ultimately leaving the whole EU-27 short of sustainable credit;
Amendment 449 #
Motion for a resolution Recital BY Amendment 45 #
Motion for a resolution Recital C Amendment 450 #
Motion for a resolution 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 451 #
Motion for a resolution Recital BZ Amendment 452 #
Motion for a resolution Recital BZ Amendment 453 #
Motion for a resolution Recital BZ Amendment 454 #
Motion for a resolution Recital BZ Amendment 455 #
Motion for a resolution Recital BZ BZ. whereas the common issuance of debt is in the longer run a corollary of EMU
Amendment 456 #
Motion for a resolution 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 457 #
Motion for a resolution Recital BZ BZ. whereas the common issuance of debt
Amendment 458 #
Motion for a resolution Recital BZ BZ. whereas the common issuance of debt
Amendment 459 #
Motion for a resolution Recital BZ BZ. whereas the Union should decide the common issuance of debt
Amendment 46 #
Motion for a resolution Recital C C. whereas in a globalised information society the need for
Amendment 460 #
Motion for a resolution Recital BZ BZ. whereas the common issuance of debt is
Amendment 461 #
Motion for a resolution Recital BZ BZ. whereas the common issuance of debt is
Amendment 462 #
Motion for a resolution Recital BZ a (new) BZa. whereas pooling debt would address many of the factors that have exacerbated the current crisis. It would reduce the risks of sovereigns being cut off from the markets, limit the strain from rising funding costs, and create a liquid and efficient market of safe assets for the financial sector;
Amendment 463 #
Motion for a resolution 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 464 #
Motion for a resolution Recital CA Amendment 465 #
Motion for a resolution Recital CA Amendment 466 #
Motion for a resolution Recital CA Amendment 467 #
Motion for a resolution Recital CA Amendment 468 #
Motion for a resolution Recital CA Amendment 469 #
Motion for a resolution Recital CA CA. whereas as a necessary
Amendment 47 #
Motion for a resolution Recital C C. whereas in a globalised information society the need for closer European integration built on the basis of democratic legitimacy is becoming ever more clear;
Amendment 470 #
Motion for a resolution Recital CA CA. whereas
Amendment 471 #
Motion for a resolution Recital CA a (new) CAa. whereas if Member States are to move further towards pooling resources and sharing risks, fiscal policy-making should also be pooled to a certain extent, as Member States would be jointly assuming the consequences of an asymmetric shock that affects any of them, the design of the fiscal paths should also be decided jointly and debt issuance should be authorised in advance;
Amendment 472 #
Motion for a resolution 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 473 #
Motion for a resolution Recital CA b (new) CAb. whereas delegating debt issuance to a European Budget Authority, mechanisms to deal with moral hazard would be strengthened, it would be easier to enforce penalties against non- compliant Member States as their access to funds obtained from debt markets could be restrained or halted;
Amendment 474 #
Motion for a resolution Recital CB Amendment 475 #
Motion for a resolution Recital CB Amendment 476 #
Motion for a resolution Recital CB Amendment 477 #
Motion for a resolution Recital CB Amendment 478 #
Motion for a resolution Recital CB CB. whereas it must be kept in mind that
Amendment 479 #
Motion for a resolution Recital CB CB. whereas, i
Amendment 48 #
Motion for a resolution Recital C a (new) Ca. whereas a closer European integration should necessarily involve efficient institutional checks and balances to ensure greater democratic legitimacy, accountability, transparency and citizen's endorsement;
Amendment 480 #
Motion for a resolution Recital CB CB. whereas it must be kept in mind that the introduction in a
Amendment 481 #
Motion for a resolution Recital CB CB. whereas
Amendment 482 #
Motion for a resolution Recital CB CB. whereas it must be kept in mind that the introduction in a
Amendment 483 #
Motion for a resolution Recital CB a (new) CBa. whereas such a framework will be well established after the approval of the two pack;
Amendment 484 #
Motion for a resolution Recital CB a (new) CBa. whereas the Commission activities in the contexts of fiscal and economic union should be based on proper social dialogue and should fully respect the autonomy of social partners;
Amendment 485 #
Motion for a resolution Recital CB a (new) CBa. whereas the establishing of an European redemption fund is a fundamental step in order to solve the debt crisis in the EMU;
Amendment 487 #
Motion for a resolution Recital -CC a (new) -CCa. whereas much emphasis has been put so far on the monetary side of the EMU while there is an urgent need for building a true economic union, where the 'Europe 2020' strategy should give the binding framework for designing and implementing of economic policies;
Amendment 488 #
Motion for a resolution Recital -CC a b (new) -CCb. whereas the Euro Plus Pact should be integrated into Union law and made binding; whereas the Euro Plus Pact and the Macroeconomic Imbalances procedure pave the way for the introduction of a convergence code for Member States' economies;
Amendment 489 #
Motion for a resolution Recital CC CC. whereas the European Semester
Amendment 49 #
Motion for a resolution Recital C b (new) Cb. whereas a closer European integration should provide for a greater parliamentary involvement at both the national and Union level;
Amendment 490 #
Motion for a resolution Recital CC CC. whereas the European Semester offers a
Amendment 491 #
Motion for a resolution Recital CC CC. whereas the European Semester offers a good framework to coordinate economic policies and budgetary choices implemented at national level in line with the country-specific recommendations adopted by the Council;
Amendment 492 #
Motion for a resolution Recital CC CC. whereas the European Semester
Amendment 493 #
Motion for a resolution Recital CC CC. whereas the European Semester, as outlined in the preventive arm of the Stability and Growth Pact, offers a good framework to coordinate budgetary and economic policies implemented at national level in line with the country-specific recommendations adopted by the Council;
Amendment 494 #
Motion for a resolution 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 recommendations adopted by the Council; considers that, in order to successfully reduce Europe-wide macro-economic imbalances, excessive current account surpluses must be tackled and respective recommendations must be clearly stated and enforced; whereas the Commission role of spill-over effects at all steps of the European Semester procedure must be pointed out in a clearer way;
Amendment 495 #
Motion for a resolution 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 496 #
Motion for a resolution 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 497 #
Motion for a resolution 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 Amendment 499 #
Motion for a resolution Recital CD CD. whereas fiscal discipline
Amendment 5 #
Motion for a resolution Citation 5 Amendment 50 #
Motion for a resolution Recital D Amendment 500 #
Motion for a resolution Recital CD CD. whereas fiscal discipline is a necessary but not a sufficient condition to get out of the crisis, in-depth structural reforms and initiatives are also needed to ensure a qualitative and sustainable growth and employment in a
Amendment 501 #
Motion for a resolution Recital CD CD. whereas fiscal discipline is
Amendment 502 #
Motion for a resolution Recital CD CD. whereas fiscal discipline is a necessary but not a sufficient condition to get out of the crisis,
Amendment 503 #
Motion for a resolution Recital CD CD. whereas fiscal discipline is a necessary but not a sufficient condition to get out of the crisis, in-depth structural reforms for the ecological and resource-efficient transformation of the European economy and initiatives are also needed to ensure a qualitative and sustainable growth and employment in a socially just society; whereas structural reforms yield only in the long term;
Amendment 504 #
Motion for a resolution Recital CD CD. whereas fiscal
Amendment 505 #
Motion for a resolution Recital CE Amendment 506 #
Motion for a resolution Recital CE Amendment 507 #
Motion for a resolution Recital CE Amendment 508 #
Motion for a resolution Recital CE CE. whereas national economic policies must reflect the reality of
Amendment 509 #
Motion for a resolution Recital CE CE. whereas national economic policies must reflect the reality of membership of EMU within a social
Amendment 51 #
Motion for a resolution 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 and to build a future for a strong
Amendment 510 #
Motion for a resolution Recital CE a (new) CEa. Whereas a more resilient EMU requires, as a matter of urgency, a sustained and symmetric reduction of excessive macroeconomic imbalances including a reduction of excessive private debt;
Amendment 511 #
Motion for a resolution Recital CF Amendment 512 #
Motion for a resolution Recital CF CF. whereas the Pact for Growth and Jobs, which was approved at the European Summit of 28 and 29 June 2012, c
Amendment 513 #
Motion for a resolution Recital CF CF. whereas the Pact for Growth and Jobs, which was approved at the European Summit of 28 and 29 June 2012, can bring a
Amendment 514 #
Motion for a resolution Recital CF CF. whereas the Pact for Growth and Jobs, which was approved at the European Summit of 28 and 29 June 2012, can bring an important contribution to growth, employment and improved European competition capacities, the Union and the Member States must take on their responsibility and act quickly; whereas the shift in focus by adopting a Growth Pact is welcomed even though the mobilisation of funds for growth enhancing measures from structural funds only concern a reallocation of existing funds, thus not providing additional financial resources;
Amendment 515 #
Motion for a resolution Recital CF CF. whereas the Pact for Growth and Jobs, which was approved at the European Summit of 28 and 29 June 2012, can bring an important contribution to growth, employment and improved European competition capacities
Amendment 516 #
Motion for a resolution Recital CF a (new) CFa. whereas strong social welfare systems and social institutions such as collective bargaining can serve as automatic stabilisers and increase resiliency against economic crisis and detrimental effects on employment;
Amendment 517 #
Motion for a resolution Recital CG CG. whereas it is up to the Member States to always deliver
Amendment 518 #
Motion for a resolution Recital CG CG. whereas
Amendment 519 #
Motion for a resolution Recital CG CG. whereas it is up to the Member States to
Amendment 52 #
Motion for a resolution 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 and 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
Amendment 520 #
Motion for a resolution Recital CG CG. whereas it is up to the Member States to deliver without delay on the agreed and long due reforms in their national reform programmes;
Amendment 521 #
Motion for a resolution 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 522 #
Motion for a resolution Recital CG a (new) CGa. whereas the full functioning of the internal market is hindered by the barriers still present in certain Member States;
Amendment 523 #
Motion for a resolution Recital CH Amendment 524 #
Motion for a resolution Recital CH Amendment 525 #
Motion for a resolution Recital CH Amendment 526 #
Motion for a resolution Recital CH Amendment 527 #
Motion for a resolution 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 528 #
Motion for a resolution Recital CH CH. whereas deeper economic and budgetary integration will be undermined without closer coordination in the field of taxation; whereas the unanimity rule in the field of taxation hampers developments in this area, the instrument of enhanced cooperation should be used more frequently
Amendment 529 #
Motion for a resolution 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)
Amendment 53 #
Motion for a resolution Recital D D. whereas the Union is at a crossroads and
Amendment 530 #
Motion for a resolution Recital CH CH. whereas the instrument of enhanced cooperation should be used more frequently
Amendment 531 #
Motion for a resolution Recital CH CH. whereas, in the
Amendment 532 #
Motion for a resolution Recital CH CH. whereas the instrument of enhanced cooperation should be used more frequently in the field of taxation; whereas
Amendment 533 #
Motion for a resolution 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); whereas a necessary element of a genuine EMU would be a Tax Pact for enhanced harmonisation of tax policy including far reaching provisions for eliminating tax avoidance and setting overall minimum standards;
Amendment 534 #
Motion for a resolution 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 a tax on the financial
Amendment 535 #
Motion for a resolution 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), considering the type and the specific nature of enterprises concerned by the application of a CCCTB;
Amendment 536 #
Motion for a resolution Recital CH a (new) CHa. whereas to benefit of the full growth potential of the Union economy is necessary to complete the internal market specially in areas such as services, energy, telecommunications, standardisation, simplification of public procurement rules, network industries, e-commerce, and copyright regime;
Amendment 537 #
Motion for a resolution Recital CH a (new) CHa. whereas the coherence and smooth functioning of the internal market should always be safeguarded when the instrument of enhanced cooperation is applied;
Amendment 538 #
Motion for a resolution Recital CI Amendment 539 #
Motion for a resolution 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 54 #
Motion for a resolution Recital D D. whereas the Union is at a crossroads and a clear direction needs to be
Amendment 540 #
Motion for a resolution Recital CI CI. whereas it is important that the recovery of the economy goes along with a labour market policy that reduces structural unemployment, especially for youth, old persons and women
Amendment 541 #
Motion for a resolution Recital CI CI. whereas it is important that the recovery of the economy goes along with a labour market policy that reduces structural unemployment, especially for youth, old persons and women
Amendment 542 #
Motion for a resolution Recital CI CI. whereas it is important that the recovery of the economy goes along with a labour market policy that stimulates job search and entrepreneurial spirit, reduces structural unemployment, especially for youth, old persons and women,
Amendment 543 #
Motion for a resolution Recital CI CI. whereas it is important that the recovery of the economy goes along with a labour market policy that reduces structural unemployment, especially for youth, old
Amendment 544 #
Motion for a resolution Recital CI CI. whereas it is important that the recovery of the economy goes along with a labour market policy that reduces structural unemployment, especially for youth, old persons and women and encourages labour mobility,
Amendment 545 #
Motion for a resolution Recital CJ Amendment 546 #
Motion for a resolution Recital CJ Amendment 547 #
Motion for a resolution Recital CJ CJ. whereas binding coordination at Union level
Amendment 548 #
Motion for a resolution Recital CJ CJ. whereas
Amendment 549 #
Motion for a resolution Recital CJ CJ. whereas binding coordination at Union level
Amendment 55 #
Motion for a resolution Recital D a (new) Da. whereas legislation underpinning the 'banking union' should respect the principle of subsidiarity and proportionality as defined in the Treaty of Lisbon, and in particular Articles 5, 6 and 7 of the Protocol (No 2) on the application of the principles of subsidiarity and proportionality;
Amendment 550 #
Motion for a resolution Recital CJ CJ. whereas binding coordination at Union level might be considered for certain key economic policy issues particularly relevant for growth and employment; whereas a legal framework aiming at putting 'Europe 2020' commitments on the same foot as budgetary commitments so as to increase the quality of public spending and the overall sustainability of public finances should be established would be a key element of enhanced and more binding coordination of economic policy; whereas common standards and procedures regarding National Reform Programmes to be defined under the ordinary legislative procedure are required for that purpose;
Amendment 551 #
Motion for a resolution Recital CJ CJ. whereas binding coordination at Union level
Amendment 552 #
Motion for a resolution 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
Amendment 553 #
Motion for a resolution Recital CK CK. whereas sustainable lasting public finance is not only a matter of an economic use of the scarce government resources, but also of a fair taxation, of a well- organised collection of taxes, of a better fight against all forms of tax fraud and evasion, and of a well-
Amendment 554 #
Motion for a resolution Recital CK CK. whereas sustainable l
Amendment 555 #
Motion for a resolution 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 and Union harmonised taxation, of a well-organised collection of taxes, of a better fight against all forms of tax evasion, and of a well-
Amendment 556 #
Motion for a resolution Recital CK a (new) CKa. whereas the Europe 2020 Strategy should undergo a mid-term review, in which it would be wrong to shrink from naming and shaming and which should examine whether the objectives need to be refined or adjusted and how the pressure on Member States to attain the objectives can be increased;
Amendment 557 #
Motion for a resolution Recital CK a (new) CKa. whereas the Member States should be accountable for the implementation of the 'Europe 2020' Strategy;
Amendment 559 #
Motion for a resolution Subheading 8 Amendment 56 #
Motion for a resolution Recital D b (new) Db. whereas there is need to enhance democratic legitimacy with regards to the 'proposed banking union' by closely involving through the appropriate legal procedure both the national parliaments, especially those of the euro area, and the European Parliament, in the ongoing legislative process well as in the drafting of any future amendment to the Treaties;
Amendment 560 #
Motion for a resolution Recital CL Amendment 561 #
Motion for a resolution Recital CL CL. whereas the Union owes its legitimacy to its democratic values, the objectives it pursues and
Amendment 562 #
Motion for a resolution 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 563 #
Motion for a resolution Recital CM CM. whereas due to the ongoing crisis and the way the counter crisis measures have been taken the debate has grown not only on the governance of EMU but also on the democratic nature of the decision making within EMU;
Amendment 564 #
Motion for a resolution Recital CM CM. whereas due to the ongoing crisis the debate has grown not only on the governance of EMU but also on the democratic nature of the decision making within EMU and the need to increase democratic legitimacy and accountability of the whole construction;
Amendment 565 #
Motion for a resolution Recital CM CM. whereas due to the ongoing crisis the debate has grown not only on the governance of EMU but also on the shortcomings in the democratic nature of the decision making within EMU;
Amendment 566 #
Motion for a resolution Recital CM CM. whereas due to the ongoing crisis the debate has grown not only on the governance of EMU but also on the democratic nature of the decision making within EMU; whereas the opinions of citizens of the Union should be taken into account by organising a referendum on the deepening of economic and monetary union;
Amendment 567 #
Motion for a resolution 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) 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 569 #
Motion for a resolution Recital CN Amendment 57 #
Motion for a resolution Recital E Amendment 570 #
Motion for a resolution Recital CN Amendment 571 #
Motion for a resolution Recital CN Amendment 572 #
Motion for a resolution Recital CN CN. whereas the European Council has acted
Amendment 573 #
Motion for a resolution Recital CN CN. whereas the European Council has not acted
Amendment 574 #
Motion for a resolution Recital CN CN. whereas the European Council has
Amendment 575 #
Motion for a resolution Recital CN CN. whereas for the past years the European Council has
Amendment 576 #
Motion for a resolution Recital CN CN. whereas the European Council has
Amendment 577 #
Motion for a resolution 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 578 #
Motion for a resolution 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 579 #
Motion for a resolution Recital CO Amendment 58 #
Motion for a resolution Recital E E. whereas the economic, financial and banking crisis has repeatedly demonstrated that public debt at national level and public financing problems as well as the disturbance of macroeconomic equilibriums quickly, directly and negatively affect the socio-economic
Amendment 580 #
Motion for a resolution Recital CO CO. whereas for proposals falling within the competence of the Union decisions
Amendment 581 #
Motion for a resolution Recital CO a (new) COa. whereas it is regrettable that the 'Treaty on stability, coordination and governance in the EMU' was concluded as an intergovernmental agreement outside the scope of the Treaties due to the resistance of certain Member States;
Amendment 582 #
Motion for a resolution Recital CO a (new) COa. whereas the executive powers of the Commission in the rules-based approach to the economic governance framework, as established in particular in the reinforced Stability and Growth Pact and the macroeconomic surveillance mechanism, should be subject to ex post democratic control by, and accountability to, the European Parliament;
Amendment 583 #
Motion for a resolution Recital CP Amendment 584 #
Motion for a resolution Recital CP Amendment 585 #
Motion for a resolution Recital CP CP. whereas measures taken at Union level are often rightly perceived as being ‘too little, too late’ due to the
Amendment 586 #
Motion for a resolution Recital CP CP. whereas measures taken at Union level
Amendment 587 #
Motion for a resolution Recital CP CP. whereas measures taken at Union level are often perceived as being
Amendment 588 #
Motion for a resolution Recital CP CP. whereas measures taken at Union level are often perceived as being
Amendment 589 #
Motion for a resolution 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 59 #
Motion for a resolution 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 590 #
Motion for a resolution Recital CQ Amendment 591 #
Motion for a resolution Recital CQ a (new) CQa. whereas the crisis and the mainly intergovernmental response to it has revealed that the current institutional setting has been overstretched and hence reached its limits; whereas a Treaty revision by means of an open-ended Convention is an essential step for providing the necessary foundation for a genuine economic and monetary union built on democratic legitimacy;
Amendment 592 #
Motion for a resolution Recital CQ b (new) CQb. whereas the intergovernmental instruments that have been created since the start of the crisis in December 2009 should be communitarised;
Amendment 593 #
Motion for a resolution Recital CQ c (new) CQc. whereas more democratic scrutiny, participation and codecision in relation to economic, monetary and social policy, taxation, the Multiannual Financial Framework and own resources is required; whereas currently existing passerelle clauses should be activated with that purpose; whereas ideas such as the direct election of the Commission President should be seriously considered;
Amendment 594 #
Motion for a resolution Recital CR Amendment 595 #
Motion for a resolution Recital CS Amendment 596 #
Motion for a resolution Recital CS Amendment 597 #
Motion for a resolution Recital CS CS. whereas it is no
Amendment 598 #
Motion for a resolution Recital CS CS. whereas
Amendment 599 #
Motion for a resolution Recital CT Amendment 6 #
Motion for a resolution Citation 9 Amendment 60 #
Motion for a resolution Recital E E. whereas the
Amendment 600 #
Motion for a resolution 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 601 #
Motion for a resolution 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 602 #
Motion for a resolution 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 Council as well as any other relevant Union institution should be ensured;
Amendment 603 #
Motion for a resolution Recital CT a (new) CTa. whereas the democratic legitimacy of the Union is integrally linked to the perceived welfare created by the Union and whereas, thus, the discussion of building a true "social union" with the ultimate goal of guaranteeing pan- European basic social security and basic social services cannot be avoided;
Amendment 604 #
Motion for a resolution Recital CT a (new) CTa. whereas no intergovernmental agreements between Member States may create parallel structures to those of the Union; all agreements establishing inter- or supranational regimes must be subjected to the full democratic scrutiny of the European Parliament;
Amendment 605 #
Motion for a resolution 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 606 #
Motion for a resolution Paragraph 1 Amendment 607 #
Motion for a resolution Paragraph 1 1. Requests the Commission to submit to Parliament as soon as possible after consultation of all interested parties, with the European Parliament being
Amendment 608 #
Motion for a resolution Paragraph 1 a (new) 1a. Calls on the Council – which issued the mandate to the four Presidents/Chairs to draft ‘Towards a genuine economic and monetary union’ – immediately to co- opt the President of the European Parliament as a co-drafter of this proposal with equal rights in order to increase its democratic substance;
Amendment 609 #
Motion for a resolution Paragraph 2 Amendment 61 #
Motion for a resolution Recital E E. whereas the economic
Amendment 610 #
Motion for a resolution Paragraph 2 2.
Amendment 611 #
Motion for a resolution Paragraph 2 a (new) 2a. Welcomes the fact that, although involvement has been only informal so far, the President of the European Parliament has convened a group of experts to draft and examine the substantive proposals jointly with him on behalf of Parliament;
Amendment 612 #
Motion for a resolution Paragraph 2 b (new) 2b. Calls on this working group regularly to inform the committee of the European Parliament responsible for issues relating to economic and monetary union about the state of the consultations and the substantive form;
Amendment 613 #
Motion for a resolution Paragraph 3 3. Calls on the Commission, in addition to the measures which can and must be taken swiftly under the existing Treaties, to list the institutional developments which may prove necessary in order to establish a stronger EMU architecture, based on the need for a
Amendment 614 #
Motion for a resolution Paragraph 3 3. Calls on the Commission, in addition to the measures which can and must be taken swiftly under the existing Treaties, to list the institutional developments which may prove necessary in order to establish a stronger EMU architecture, based on the need for a banking union, a fiscal union and an economic union and to inform the European Parliament and the Council about any of these without delay;
Amendment 615 #
Motion for a resolution Paragraph 3 3. Calls on the Commission, in addition to the measures which can and must be taken swiftly under the existing Treaties, to list the institutional developments and the appropriate time bound and detailed roadmap which may prove necessary in order to establish a stronger EMU architecture, based on
Amendment 616 #
Motion for a resolution Paragraph 3 3. Calls on the Commission, in addition to the measures which can and must be taken swiftly under the existing Treaties, to list the institutional developments which
Amendment 617 #
Motion for a resolution Paragraph 3 3. Calls on the Commission, in addition to the measures which can and must be taken swiftly under the existing Treaties, to list the institutional developments which may prove necessary in order to establish a stronger EMU architecture, based on the need for a banking union, a fiscal union and an economic union within the framework of a strengthened political union enhancing the role of the European Parliament;
Amendment 618 #
Motion for a resolution Paragraph 3 a (new) 3a. Considers that the institutional implementation of the proposals which have so far been made by the ‘Van Rompuy group’ can only be completed in a convention with the participation of all the European Institutions, national governments and national parliaments;
Amendment 619 #
Motion for a resolution Paragraph 3 a (new) 3a. Stresses the paramount importance of eliminating the democratic shortcomings of the decision making processes within the Union and particularly the EMU by guaranteeing that all decisions are made within the scope of a direct political mandate and with due political accountability;
Amendment 62 #
Motion for a resolution Recital E E. whereas the economic, financial and banking crisis has repeatedly demonstrated that systematic external imbalances, economic stagnation, excessive public debt at national level and financing problems as well as the disturbance of macroeconomic equilibriums quickly, directly and negatively affect the socio- economic development of the euro area and of the Union as a whole;
Amendment 620 #
Motion for a resolution Paragraph 3 b (new) 3b. Calls on the President of the Council, without delay, to bring to a conclusion in agreement with Parliament the legislative procedures under the ordinary legislative procedure pursuant to the Lisbon Treaty which are being blocked by the Council and adopt them, particularly those concerning the capital of banks, national deposit guarantee schemes and the implementation of the Fiscal Pact;
Amendment 621 #
Motion for a resolution Paragraph 3 c (new) 3c. Considers that the substantial legal and institutional issues relating to the independence of the ECB require thorough examination;
Amendment 622 #
Motion for a resolution Paragraph 4 Amendment 623 #
Motion for a resolution Paragraph 4 4. Considers that the financial implications of the requested proposal should be covered by the industry as well as by appropriate budgetary allocations where needed;
Amendment 63 #
Motion for a resolution Recital E E. whereas the
Amendment 64 #
Motion for a resolution Recital E E. whereas the economic, financial and banking crisis
Amendment 65 #
Motion for a resolution Recital E E. whereas the economic, financial and banking crisis has repeatedly demonstrated that
Amendment 66 #
Motion for a resolution Recital E a (new) Ea. whereas due consideration should be given to the potential mutual spill-over effects of the 'banking union' in the euro area for non-euro area members;
Amendment 67 #
Motion for a resolution Recital F Amendment 68 #
Motion for a resolution 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 a
Amendment 69 #
Motion for a resolution Recital F F. whereas
Amendment 7 #
Motion for a resolution Citation 10 Amendment 70 #
Motion for a resolution 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 doubts around the EMU and the continuous strains on the sovereign bond markets reflected in high interest borrowing rates for some countries and considerable financial and economic instability;
Amendment 71 #
Motion for a resolution Recital F F. whereas there is great
Amendment 72 #
Motion for a resolution Recital G Amendment 73 #
Motion for a resolution Recital G G. whereas the combination of a
Amendment 74 #
Motion for a resolution Recital G G. whereas the
Amendment 75 #
Motion for a resolution Recital G G. whereas the combination of
Amendment 76 #
Motion for a resolution Recital G G. whereas the combination of
Amendment 77 #
Motion for a resolution Recital G G. whereas the combination of a lack of competitiveness and a low growth potential with high deficits and high debt and macro-economic imbalances between Member States not only cause
Amendment 78 #
Motion for a resolution Recital H Amendment 79 #
Motion for a resolution Recital H H. whereas recent events have made clear that the euro area is
Amendment 8 #
Motion for a resolution Citation 10 a (new) - having regard to the G-20 Leaders' Statement following the Los Cabos Summit of 18 and 19 June 2012 as regards the need to implement fully the Basel III standards according to the agreed timelines;
Amendment 80 #
Motion for a resolution Recital H H. whereas recent events have made clear
Amendment 81 #
Motion for a resolution Recital H H. whereas recent events have made clear that the euro area is not sufficiently equipped to solve the crisis and to react adequately to regional and global economic shocks
Amendment 82 #
Motion for a resolution Recital H a (new) Ha. Whereas the crisis has very clearly shown four main shortcomings in the current design of the euro area: (i) lack of stabilisation mechanisms to deal with asymmetric shocks within the Union; (ii) national responsibilities for banking supervision and crisis management in the absence of a European backstop; (iii) fragmentation and frictions in the working of European sovereign debt markets; and (iv) weaknesses in the governance of the European fiscal discipline framework;
Amendment 83 #
Motion for a resolution Recital I Amendment 84 #
Motion for a resolution Recital I I. whereas the important role played by the euro, both within the euro area and the Member States whose currency is not the euro at the global level, as the second most important international reserve currency, risks being increasingly undermined the longer the crisis persists;
Amendment 85 #
Motion for a resolution 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 ,
Amendment 86 #
Motion for a resolution 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,
Amendment 87 #
Motion for a resolution Recital J Amendment 88 #
Motion for a resolution 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 89 #
Motion for a resolution Recital J J. whereas over the last decade the euro has brought Union citizens many benefits, such as price stability, protection against currency fluctuations, the impossibility of
Amendment 9 #
Motion for a resolution Citation 11 Amendment 90 #
Motion for a resolution Recital J J. whereas over the last decade the euro has brought Union citizens many benefits, such as price stability,
Amendment 91 #
Motion for a resolution 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 92 #
Motion for a resolution Recital K Amendment 93 #
Motion for a resolution 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
Amendment 94 #
Motion for a resolution Recital K K. whereas the Union's single currency should
Amendment 95 #
Motion for a resolution Recital K K. whereas the Union's single currency
Amendment 96 #
Motion for a resolution Recital K a (new) K a. whereas progress towards a genuine EMU should respect the will of the Member States that have an opt-out from having to introduce the euro to retain their respective national currencies;
Amendment 97 #
Motion for a resolution Recital L Amendment 98 #
Motion for a resolution Recital L L. whereas euro area membership implies a high degree of economic and financial interdependence between the Member States concerned and therefore requires a much closer coordination of financial, fiscal and economic policies, linked to stricter supervisory instruments and effective enforcement;
Amendment 99 #
Motion for a resolution 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;
source: PE-496.519
2012/09/28
EMPL
114 amendments...
Amendment 1 #
Draft opinion Section 1 – paragraph 1 Amendment 10 #
Draft opinion Section 1 – Recital E (new) E. whereas the full potential of the Lisbon Treaty has up to now been untapped, first regarding : - article 9 TFEU following which the promotion of high employment and the guarantee of adequate social protection have to be taken into account in defining and implementing the policies and activities of the EU, - article 151 TFEU which states that 'The Union and the Member States, (...), shall have as their objectives the promotion of employment, improved living and working conditions, so as to make possible their harmonization while the improvement is being maintained, proper social protection, dialogue between management and labour, the development of human resources with a view to lasting high employment and the combating of exclusion', - article 153(1) TFEU in general and in particular 153(1)(h) 'the integration of persons excluded from the labour market';
Amendment 100 #
Draft opinion Section 1 – paragraph 17 17. Call for the need to improve and better coordinate social governance at the European level in parallel of the establishment of European economic governance.
Amendment 101 #
Draft opinion Section 1 – paragraph 17 17.
Amendment 102 #
Draft opinion Section 1 – paragraph 17 Amendment 103 #
Draft opinion Section 1 – paragraph 17 17. Calls for the need to improve social governance at the European level in parallel of the establishment of European economic governance
Amendment 104 #
Draft opinion Section 1 – paragraph 17 a (new) 17 a. Underlines that a "Genuine Economic and Monetary Union" must be supported and accepted by the EU citizens and therefore calls for the necessity to find ways of participation;
Amendment 106 #
Draft opinion Section 1 – Recital L (new) L. whereas the Euro is a corollary to the internal market meaning that all parties concerned by the latter must be fully engaged in restoring a well functioning Euro zone;
Amendment 107 #
Draft opinion Section 1 – Recital M (new) M. whereas a banking union should be accompanied by a stronger regulation and supervision based on corporate social responsibility and the role of the financial system to support growth, job creation and the sustainability of social protection;
Amendment 108 #
Draft opinion Section 1 – Recital N (new) N. whereas the establishment of a banking union will have an impact on jobs in the banking sector in Member States that need to be properly evaluated and anticipated;
Amendment 109 #
Draft opinion Section 2 – paragraph 17 a (new) Amendment 11 #
Draft opinion Section 1 – Recital F (new) F. whereas the Euro is the currency of the Union and its management foreseen by the Treaty first in the framework of economic and social policies design by articles 121 and 148 that apply to all Member States;
Amendment 110 #
Draft opinion Section 2 – paragraph 17 b (new) Amendment 111 #
Draft opinion Section 2 – paragraph 17 c (new) Recommendation 3 17 c. The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: The Fiscal Compact should be transposed into secondary Union legislation as soon as possible. Each mission of the Troika in a Member State must be enlarged to include a member of the ILO.
Amendment 112 #
Draft opinion Section 2 – paragraph 17 d (new) Recommendation 4 17 d. The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: Enhanced cooperation should be used more frequently when an EU approach has proved to be impossible in the field of taxation (such as for establishment of a CCCTB or a financial transaction tax, shift of burden between labour and capital or environmental friendly taxation) since harmonised frameworks for taxation will enhance budgetary policy integration, favour public service financing, job creation and energy transition.
Amendment 113 #
Draft opinion Section 2 – paragraph 17 e (new) Recommendation 5 17 e. The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: 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 and therefore the financing of their public services. Therefore the Commission should finalise international agreement rounds and table proposals to improve cooperation and coordination between tax authorities.
Amendment 114 #
Draft opinion Section 2 – paragraph 17 f (new) Amendment 12 #
Draft opinion Section 1 – paragraph 3 3. Recalls the importance of the adoption of the Growth Pact and believes that
Amendment 13 #
Draft opinion Section 1 – paragraph 3 3. Recalls the importance of the adoption of the Growth Pact and believes that new initiatives such as a Social Pact should follow;
Amendment 14 #
Draft opinion Section 1 – paragraph 3 Amendment 15 #
Draft opinion Section 1 – paragraph 3 3. Recalls the importance of the adoption of the Growth Pact and believes that new initiatives should follow
Amendment 16 #
Draft opinion Section 1 – paragraph 4 Amendment 17 #
Draft opinion Section 1 – paragraph 4 Amendment 18 #
Draft opinion Section 1 – paragraph 4 4. Calls for a balanced interaction between economic and monetary policies on the one hand and employment and social policies on the other hand since the European social model is
Amendment 19 #
Draft opinion Section 1 – paragraph 4 4. Calls for a balanced interaction between economic policies on the one hand and employment and social policies on the other hand since the European social model is a driver of economic competitiveness without which the Union's social market economy will not be able to climb out of the rut; stresses that minimum social standards should be introduced and extended in order to stop aggravating social inequalities and to ensure adequate social protection;.
Amendment 2 #
Draft opinion Section 1 – paragraph 1 a (new) 1 a. Recalls that a European Economic and Monetary Union should first and foremost serve the people and the real economy as a basis for increasing the living standards of all;
Amendment 20 #
Draft opinion Section 1 – paragraph 4 4. Calls for a balanced interaction between economic policies on the one hand and employment and social policies on the other hand
Amendment 21 #
Draft opinion Section 1 – paragraph 4 a (new) 4 a. Dismiss the low wage-high competiveness approach developed by the Commission and pushed forward by the missions of the Troika, reminds that the labour costs in Greece have been slashed by 11,5% in one year between 2011 and 2012 without any positive effects on investment in this country and still with huge social consequences with regards to the pauperisation of the Greeks citizens;
Amendment 22 #
Draft opinion Section 1 – paragraph 5 Amendment 23 #
Draft opinion Section 1 – paragraph 5 5. Observes that the roadmap «For a stable and prosperous EU» presented to the June 2012 European Council by President Van Rompuy does not adequately address employment and social policies, though they are a fundament element as Europe moves towards a true monetary and economic union;
Amendment 24 #
Draft opinion Section 1 – paragraph 5 5. Observes that the roadmap «For a stable and prosperous EU» presented to the June 2012 European Council by President Van Rompuy does not address employment and social policies, though they are a fundament element as Europe moves towards a true monetary and economic union; considers that by not addressing these aspects there is a risk of following economic policies which ignore the consideration of other indicators, and which would therefore not deliver in terms of work and social inclusion;.
Amendment 25 #
Draft opinion Section 1 – paragraph 6 – introductory part 6. Requests that
Amendment 26 #
Draft opinion Section 1 – paragraph 6 – introductory part Amendment 27 #
Draft opinion Section 1 – paragraph 6 – introductory part 6.
Amendment 28 #
Draft opinion Section 1 – paragraph 6 – introductory part 6.
Amendment 29 #
Draft opinion Section 1 – paragraph 6 – indent 1 Amendment 3 #
Draft opinion Section 1 – paragraph 2 2. Calls on Member States to adopt growth-friendly policies aimed at maintaining and creating jobs
Amendment 30 #
Draft opinion Section 1 – paragraph 6 – indent 1 Amendment 31 #
Draft opinion Section 1 – paragraph 6 – indent 1 – the introduction of a European Youth Guarantee;
Amendment 32 #
Draft opinion Section 1 – paragraph 6 – indent 1 – the introduction of a European Youth
Amendment 33 #
Draft opinion Section 1 – paragraph 6 – indent 1 a (new) - a European Quality Framework on Internships and Apprenticeships
Amendment 34 #
Draft opinion Section 1 – paragraph 6 – indent 1 a (new) - full respect of the autonomy of social partners;
Amendment 35 #
Draft opinion Section 1 – paragraph 6 – indent 1 a (new) - an integrated active employment policy, including investment in human resource development, strategies for employment creation and improved working conditions, measures to encourage and support geographical mobility; forecasting of future occupational requirements, support for integration of disadvantaged groups into employment and income security during unemployment;
Amendment 36 #
Draft opinion Section 1 – paragraph 6 – indent 1 b (new) - the introduction of a minimum employment allowance;
Amendment 37 #
Draft opinion Section 1 – paragraph 6 – indent 1 b (new) - a social investment pact, focusing on inclusive education and lifelong learning, quality jobs, active inclusion, social protection, inclusive services, equality and anti-discrimination; the increased use of EU funds for inclusion;
Amendment 4 #
Draft opinion Section 1 – paragraph 2 Amendment 43 #
Draft opinion Section 1 – paragraph 6 – indent 3 – decent living wages and the introduction of a European minimum wage;
Amendment 44 #
Draft opinion Section 1 – paragraph 6 – indent 3 –
Amendment 45 #
Draft opinion Section 1 – paragraph 6 – indent 3 a (new) - in cooperation with social partners, a strategy to improve the protection of workers' rights in order to give to the authorities responsible for this task the means to fulfil their mission
Amendment 48 #
Draft opinion Section 1 – paragraph 6 – indent 4 – access to affordable and social housing;
Amendment 49 #
Draft opinion Section 1 – paragraph 6 – indent 4 – social housing guaranteed exclusively to the socially excluded, complemented by activating measures;
Amendment 5 #
Draft opinion Section 1 – paragraph 2 2. Calls on Member States to adopt growth-friendly policies aimed at maintaining and creating jobs; re
Amendment 50 #
Draft opinion Section 1 – paragraph 6 – indent 5 Amendment 51 #
Draft opinion Section 1 – paragraph 6 – indent 5 Amendment 52 #
Draft opinion Section 1 – paragraph 6 – indent 5 – the creation of a social protection floor
Amendment 53 #
Draft opinion Section 1 – paragraph 6 – indent 5 – a social protection floor to guarantee equal access to essential health services, income support and subsistence security;
Amendment 54 #
Draft opinion Section 1 – paragraph 6 – indent 6 Amendment 55 #
Draft opinion Section 1 – paragraph 6 – indent 6 Amendment 56 #
Draft opinion Section 1 – paragraph 6 – indent 6 a (new) - the implementation of measures to promote fair labour mobility (improvement of portability of pension rights; better cross-country information on job vacancies; recognition of professional qualifications; better access to public sector jobs for non nationals, among others)
Amendment 57 #
Draft opinion Section 1 – paragraph 6 – indent 6 a (new) - equal pay and equal rights for work of equal value for all;
Amendment 58 #
Draft opinion Section 1 – paragraph 6 – indent 6 b (new) - an allocation of 25% of cohesion funding for the European Social Fund;
Amendment 59 #
Draft opinion Section 1 – paragraph 6 – indent 6 c (new) - a new health and safety strategy including stress related diseases;
Amendment 6 #
Draft opinion Section 1 – paragraph 2 2. Calls on Member States to adopt growth-friendly policies aimed at maintaining and creating jobs; regrets that, contrary to budgetary discipline, employment
Amendment 61 #
Draft opinion Section 1 – paragraph 7 7. Underlines that fiscal consolidation and economic recovery require a stable level of internal consumption and adequate contribution to the welfare state and social security systems, which can only be achieved with high levels of employment in a competitive economy;
Amendment 62 #
Draft opinion Section 1 – paragraph 7 Amendment 63 #
Draft opinion Section 1 – paragraph 7 7. Underlines that fiscal consolidation and economic recovery require a stable level of internal consumption and adequate contribution to the welfare state and social security systems, which can only be achieved with high levels of quality employment, decent living wages and a fair burden sharing;
Amendment 64 #
Draft opinion Section 1 – paragraph 8 8. Calls on the Commission and Council to ensure that policy guidance for fiscal consolidation is fully coherent with the Union's objectives of social and sustainable development, based on Article 9 TFEU and that it is supplemented by a growth and employment package, in a way that does not increase public debt;
Amendment 65 #
Draft opinion Section 1 – paragraph 8 8. Calls on the Commission and Council to ensure that policy guidance for fiscal consolidation is fully coherent with the Union's objectives of social and sustainable development, based on Article 9 TFEU and that it is
Amendment 66 #
Draft opinion Section 1 – paragraph 8 Amendment 67 #
Draft opinion Section 1 – paragraph 8 8. Calls on the Commission and Council to ensure that policy guidance for fiscal consolidation is fully coherent with the Union's objectives of social and sustainable development, based on Article 9 TFEU and that it is supplemented by a growth and employment package dedicated to sustainable development and quality jobs;
Amendment 68 #
Draft opinion Section 1 – paragraph 8 8. Calls on the Commission and Council to ensure that policy guidance for fiscal consolidation is fully coherent with the Union's objectives of social and sustainable development, based on Article 9 TFEU and that it is supplemented by a growth and employment package; calls on the Commission to bear in mind when proposing legislation on social and economic governance that wages and pensions are not merely an economic variable but, above all, the income that people need to live on;
Amendment 69 #
Draft opinion Section 1 – Recital R (new) R. whereas any upgrade of the role of the Commissioner for economic and monetary affairs will need to be echoed by an upgrade of the role of the Commissioner for employment and social affairs so as to ensure a balanced approach of the social market economy, in the same spirit the EPSCO Council should be upgraded and organized in a euro zone formation;
Amendment 7 #
Draft opinion Section 1 – paragraph 2 2. Calls on Member States to adopt
Amendment 70 #
Draft opinion Section 1 – Recital S (new) Amendment 71 #
Draft opinion Section 1 – paragraph 9 9. Calls for the
Amendment 72 #
Draft opinion Section 1 – paragraph 9 9. Calls for the monitoring of access to capital market depending on the employment content of investments
Amendment 73 #
Draft opinion Section 1 – paragraph 9 Amendment 74 #
Draft opinion Section 1 – paragraph 9 9. Calls for the monitoring of access to capital market depending on the employment content of investments and for the alleviation of taxation on labour
Amendment 75 #
Draft opinion Section 1 – paragraph 9 9. C
Amendment 76 #
Draft opinion Section 1 – paragraph 10 10. Deplores the fact that most Member States have not submitted a National Job Plan as part of their National Reform Programme 2012; considers that an integrated and strengthened economic policy framework must
Amendment 77 #
Draft opinion Section 1 – paragraph 10 Amendment 78 #
Draft opinion Section 1 – paragraph 10 10. Deplores the fact that most Member States have not submitted a National Job Plan as part of their National Reform Programme 2012; considers that an integrated and strengthened economic policy framework must build on the principles of sustainable
Amendment 79 #
Draft opinion Section 1 – paragraph 10 10. Deplores the fact that most Member States have not submitted a National Job Plan as part of their National Reform Programme 2012 and that the Commission has not insisted on Member States with their submission; considers that an integrated and strengthened economic policy framework must build on the principles of sustainable development and employment, while promoting social cohesion;
Amendment 8 #
Draft opinion Section 1 – Recital D (new) D. whereas the EU needs to embark outside of the vicious circle of austerity measures/recession and to make full use of the EU added value which is not only about rules but first about common policies;
Amendment 80 #
Draft opinion Section 1 – paragraph 10 a (new) 10 a. Welcomes the Council's and Commission's commitment to tackle youth unemployment as an EU top policy priority and deplores the fact that those Member Sates with the highest rate of youth unemployment have not submitted a National Youth Job Plan to prevent youth unemployment from becoming structural unemployment;
Amendment 81 #
Draft opinion Section 1 – paragraph 10 a (new) 10 a. Calls for a common European Youth Strategy to fight youth unemployment and the danger of losing a whole generation in Europe;
Amendment 82 #
Draft opinion Section 1 – paragraph 11 11. Welcomes the Council's commitment to eliminate further existing barriers to labour mobility and urges the Member States to immediately remove all restrictions on free labour access to workers from Romania and Bulgaria, reminds that lifting mobility barriers is not an panacea for elderly and low qualified workers whose situation has to be assessed by maintaining local economic activities;
Amendment 83 #
Draft opinion Section 1 – paragraph 11 Amendment 84 #
Draft opinion Section 1 – paragraph 12 Amendment 85 #
Draft opinion Section 1 – paragraph 12 12. Calls on the Commission to strengthen fair mobility, combat brain drain and step up the fight against social dumping due to the misuse of posted workers, both in host and home countries;
Amendment 86 #
Draft opinion Section 1 – paragraph 12 Amendment 87 #
Draft opinion Section 1 – paragraph 12 12. Calls on the Commission to strengthen fair mobility
Amendment 88 #
Draft opinion Section 1 – paragraph 12 12. Calls on the Commission to strengthen and promote fair mobility
Amendment 89 #
Draft opinion Section 1 – paragraph 13 Amendment 9 #
Draft opinion Section 1 – paragraph 2 a (new) 2 a. Recalls that restructuring and relocation processes on a large scale have resulted in the loss of almost 2 million jobs during the last 3 years in the EU, and regrets that there has not been a European answer to facilitate the management of restructuring in a more social and economic responsible way;
Amendment 90 #
Draft opinion Section 1 – paragraph 13 Amendment 91 #
Draft opinion Section 1 – paragraph 14 Amendment 92 #
Draft opinion Section 1 – paragraph 14 14. Calls for enhanced surveillance of the effects of economic and monetary policies on the social situation and the labour markets and measures to eliminate the negative social consequences of these policies; suggests therefore to add social policies linked with job creation
Amendment 93 #
Draft opinion Section 1 – paragraph 14 a (new) 14 a. Calls for enhanced surveillance of the rule of law and legal certainty necessary for sound economic development in all Member States through including into the Annual Growth Survey a new mechanism of measuring, comparing and benchmarking of the independence of judiciary;
Amendment 94 #
Draft opinion Section 1 – paragraph 14 a (new) 14 a. Calls for an enhanced macroeconomic surveillance of different dimensions such as lack of investment and consumption at EU level, inequalities in income distribution, increasing unemployment and poverty, deeper region inequalities, that have been exacerbated with the current crisis and are aggravating macro-economic imbalances and reducing real convergence within the Euro zone;
Amendment 95 #
Draft opinion Section 1 – paragraph 15 Amendment 96 #
Draft opinion Section 1 – paragraph 15 15. Calls on the Commission to include, in its assessment of Member States national budgetary plans, the promotion of the EU2020' growth, employment and social targets and to develop a systematic approach to recommendations, addressing all cases where Member States are not on track to achieve the different targets;
Amendment 97 #
Draft opinion Section 1 – paragraph 16 Amendment 98 #
Draft opinion Section 1 – paragraph 17 Amendment 99 #
Draft opinion Section 1 – paragraph 17 17. Call for the need
source: PE-496.476
2012/10/02
ECON
216 amendments...
Amendment 624 #
Motion for a resolution Annex Amendment 625 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 1 The legislative act to be adopted should create a high-quality
Amendment 626 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 1 The legislative act to be adopted should create a high-quality single European supervisory mechanism
Amendment 627 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 1 The legislative act to be adopted should create a high-quality single European supervisory mechanism
Amendment 628 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 1 The legislative act to be adopted should create a high-quality single European supervisory mechanism
Amendment 629 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 1 The legislative act to be adopted should create a high-quality single European supervisory mechanism within the ECB (European supervisor) to ensure the effective application of prudential rules, risk control and crisis prevention concerning credit institutions and other financial institutions throughout the Union, notwithstanding the right of national authorities to address macro-prudential or systemic risk identified at the level of a Member State.
Amendment 630 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 1 The legislative act to be adopted should create a high-quality
Amendment 631 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 2 The legal basis, form and content of the proposal should provide for the possibility of full participation of all Member States in the European single supervisory mechanism.
Amendment 632 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 2 The legal basis, form and content of the proposal should provide for the possibility of full participation of all Member States in the European supervisor, by ensuring the full involvement in the decision making process of the Member States whose currency is not the euro, in case they decide to participate in the European supervisory mechanism.
Amendment 633 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 2 The legal basis, form and content of the proposal should provide for the possibility of full participation of all Member States in the European supervisor, in a form, which guarantees a symmetric relation between accepted obligations and the impact on decision-making, .
Amendment 634 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 2 The legal basis, form and content of the proposal should provide for the possibility of full participation of all Member States in the European supervisor, while respecting the interests of Member States whose currency is not the euro.
Amendment 635 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 2 The legal basis, form and content of the proposal should provide for the possibility of full participation of all Member States in
Amendment 636 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 3 Amendment 637 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 4 The proposal should be subject to full democratic scrutiny by the European Parliament within the boundaries of the Treaty on the Functioning of the European Union.
Amendment 638 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 4 The proposal should be subject to full democratic scrutiny by the European Parliament within the boundaries of the Treaty on the Functioning of the European Union.
Amendment 639 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 4 The proposal should be subject to full and extensive democratic scrutiny by the European Parliament.
Amendment 640 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 5 Amendment 641 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 5 Amendment 642 #
Motion for a resolution 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 643 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 6 The proposal should ensure that all tasks of EBA listed in Regulation (EU) No 1093/2010 continue to be exercised at Union level
Amendment 644 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 6 The proposal should ensure that all tasks of EBA listed in Regulation (EU) No 1093/2010 continue to be exercised at Union level and that the proposals are consistent with the sound functioning of the European Supervisory Authorities as envisaged in Regulation (EU) No 1093/2010.
Amendment 645 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 6 The proposal should ensure the proper and efficient functioning of the EBA and that all tasks listed in Regulation (EU) No 1093/2010 continue to be exercised at Union level.
Amendment 646 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 6 a (new) The delegation of responsibilities and tasks from the home as well as from the host supervisor to the European supervisor and any delegation of tasks back to national supervisors should be done symmetrically. The European supervisor should be independent from national political interest and it should make prevail the European interest over the national one through a Union mandate and adequate governance.
Amendment 647 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 6 a (new) The internal decision-making procedures of the single supervisory mechanism should be carefully calibrated so that the views and concerns of closely cooperating Member States whose currency is not the euro are given the same consideration and weight as those of Member States whose currency is the euro.
Amendment 648 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 6 a (new) The European supervisor shall ensure that none of its decisions impinges in any way on the fiscal responsibilities of Member States.
Amendment 649 #
Motion for a resolution Annex – part 1 –p 1.1 – paragraph 7 The European supervisor needs to be accountable to the
Amendment 650 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 7 The European supervisor needs to be fully accountable to the European Parliament for the actions and decisions taken in the field of European supervision and should report on a quarterly basis to the competent
Amendment 651 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 7 a (new) The decision-making processes within the single supervisory mechanism should be specified in the relevant legislative proposal under ordinary legislative procedure;
Amendment 652 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 8 The body or bodies with ultimate authority under the European supervisor should be headed by officers appointed
Amendment 653 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 8 a (new) The proposal should set up a proper monitoring and review mechanism to safeguard that the higher integration will not have any unintended negative stability or economic consequences to ensure that no steps of the European supervisor will endanger the stability of the financial markets of the Member States whose currency is not the euro.
Amendment 654 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 The European supervisor [i.e. the ECB] should have the competence and responsibility to:
Amendment 655 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 The European supervisor [i.e. the ECB] should have the competence and responsibility to:
Amendment 656 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 1 - supervise all financial institutions within the countries included in the system
Amendment 657 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 1 - supervise all financial institutions within the countries included in the system but with a clear division of operational responsibilities between the European and national supervisors depending on the
Amendment 658 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 1 - supervise all financial institutions within the countries included in the system but with a clear division of operational responsibilities between the European and national supervisors depending on the
Amendment 659 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 1 - supervise all financial institutions within
Amendment 660 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 1 - supervise all
Amendment 661 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 1 - supervise all financial institutions within the countries included in the system but with a clear division of operational responsibilities between the European and national supervisors depending on the size and nature of banks and the nature of the supervisory tasks, taking into account markets’ and institutional forms’ diversity among intermediaries;
Amendment 662 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 1 - supervise all financial institutions and financial market structures within the countries included in the system but with a clear division of operational responsibilities between the European and national supervisors depending on the size and nature of banks and the nature of the supervisory tasks;
Amendment 663 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 1 a (new) – act in a way that is consistent with the need to maintain the unity and integrity and international competitiveness of the internal market, for example, to ensure that no barriers to competition exist between Member States;
Amendment 664 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 1 a (new) – act in a way that is consistent with the need to maintain the unity and integrity and international competitiveness of the internal market, for example, to ensure that no barriers to competition exist between Member States;
Amendment 665 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 - – supervise those institutions which operate without a banking licence and have so far been exempt from any monitoring and supervision;
Amendment 666 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 - – take due account of the impact of its activities on
Amendment 667 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 2 – take due account of the impact of its activities on competition and innovation within the internal market, the Union's global competitiveness, financial inclusion, consumer protection and the Union's strategy for jobs and growth;
Amendment 668 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 2 – take due account of the impact of its activities on competition and innovation within the internal market, the integrity and coherence of the internal market and the Union as a whole, the Union's global competitiveness, financial inclusion, and the Union's strategy for jobs and growth;
Amendment 669 #
Motion for a resolution 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; reduce the risk inherent in the financial system by introducing a maximum size for financial institutions and introducing a separated banking system;
Amendment 670 #
Motion for a resolution 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, taking into account markets’ and institutional forms’ diversity;
Amendment 671 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 3 – protect the stability of all parts of the financial system of participating Member States, the transparency of markets and financial products and the protection of depositors and investors;
Amendment 672 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 3 – protect the stability and resilience of the financial system, the transparency of markets and financial products and the protection of depositors and investors;
Amendment 673 #
Motion for a resolution 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
Amendment 674 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 3 – protect the stability of all parts of the financial system of participating Member States, the transparency of markets and financial products and the protection of depositors and investors;
Amendment 675 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 4 – prevent regulatory arbitrage and guarantee a level playing field, however taking into due account that a single rule book should not translate into one size fits all measures;
Amendment 676 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 5 – strengthen international supervisory coordination and where appropriate represent the Union in international financial institutions.
Amendment 677 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 – indent 5 a (new) – in the event of inaction by relevant national authorities, take the necessary measures to restructure or wind down financial institutions that are failing or whose failure would create concerns as regards the general public interest.
Amendment 678 #
Motion for a resolution 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 679 #
Motion for a resolution 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 680 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 a (new) In view of the fact that Article 127(6) TFEU applies to the whole of the Union and bearing in mind Article 139 TFEU, the Commission is requested to examine whether the General Council of the ECB can be granted additional powers in the field of supervision and under which conditions.
Amendment 681 #
Motion for a resolution Annex – part 1 – point 1.1 – paragraph 9 a (new) The split of the Union through the participation of some but not all Member States in the banking union should be avoided and despite the enhanced integration of the euro zone the internal market in the financial sector must be preserved;
Amendment 682 #
Motion for a resolution Annex – part 1 – point 1.2 Amendment 683 #
Motion for a resolution Annex – part 1 – point 1.2 Amendment 684 #
Motion for a resolution Annex – part 1 – point 1.2 – title Recommendation 1.2 relating to
Amendment 685 #
Motion for a resolution Annex – part 1 – point 1.2 – title Recommendation 1.2 relating to
Amendment 686 #
Motion for a resolution Annex – part 1 – point 1.2 – title Recommendation 1.2 relating to
Amendment 687 #
Motion for a resolution Annex – part 1 – point 1.2 – introductory part The European Parliament c
Amendment 688 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 1 The
Amendment 689 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 1 The legislative act to be adopted should update
Amendment 690 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 1 The legislative act to be adopted should
Amendment 691 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 1 The European Parliament considers that the
Amendment 692 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 2 Amendment 693 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 2 The proposal should create a single
Amendment 694 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 2 The proposal should create a single European system deposit guarantee
Amendment 695 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 2 The proposal should create a single
Amendment 696 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 2 The proposal should create a
Amendment 697 #
Motion for a resolution Annex – part 1 – Point 1.2 – paragraph 2 The proposal should create a single European deposit guarantee fund (EDGF) and ensure that the level of funds available at Union level are adequate to provide a high level of protection to eligible deposits, taking into account the diversity of institutional forms of deposit guarantee schemes (paybox, risk manager, risk minimize or IPS). The EDGF should cover all banks in order to guarantee a level playing field and avoid deposit flight from uncovered to covered financial institutions. However, since at least three models of deposit guarantee schemes exist, the proposal should carefully consider which one to select.
Amendment 698 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 3 Amendment 699 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 3 In order to maximise the protection of private savings, the
Amendment 700 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 3 In order to maximise the protection of private savings, the
Amendment 701 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 3 – In order to maximise the protection of private savings, the ESDG
Amendment 702 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 4 Amendment 703 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 4 The
Amendment 704 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 4 The ESDG
Amendment 705 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 4 The EDGF should have a strong financial structure built on contributions from industry, with European public money only serving as an ultimate backstop. The contributions paid by industry should be based on a calculation whereby the contribution paid by big, risky institutions must mirror that element of risk.
Amendment 706 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 5 Amendment 707 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 5 Amendment 708 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 5 All deposits denominated in euro should be subject to a particular regime. Under that particular regime, the obligation on Member States to ensure that the ESDG
Amendment 709 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 5 All deposits
Amendment 710 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 6 Amendment 711 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 6 Amendment 712 #
Motion for a resolution 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 A vehicle should be established or designated to provide reassurance that the collective obligation will be met. Th
Amendment 714 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 6 A vehicle should be established or designated to provide reassurance that that the collective obligation will be met. That vehicle could be
Amendment 715 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 6 A vehicle should be established or designated to provide reassurance that that the collective obligation will be met. That vehicle could be the ESM, which could recapitalise and provide financial assistance to banks without intermediation of Member States.
Amendment 716 #
Motion for a resolution Annex – part 1 – point 1.2 – paragraph 6 a (new) Specify that a clear calendar for finalising the banking union should be drawn.
Amendment 717 #
Motion for a resolution Annex – part 1 – point 1.3 Amendment 718 #
Motion for a resolution Annex – part 1 – point 1.3 Amendment 719 #
Motion for a resolution Annex – part 1 – point 1.3 – title 1.3 relating to a
Amendment 720 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 1 The
Amendment 721 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 1 1. The legislative act to be adopted should update
Amendment 722 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 1 The legislative act to be adopted should update and supplement the current proposal for a directive establishing a framework for the recovery and resolution of credit institutions and investment firms in order to create a European scheme for the application of resolution measures to institutions subject to direct supervision under the single supervisory mechanism. However, it should be taken into account that certain banking sectors already have mechanisms of full protection and tools of recovery and resolution that should be recognised, supported and articulated within the legislative act.
Amendment 723 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 2 A body at European level should be
Amendment 724 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 2 A body at European level should be established or designated to exercise the required resolution tools in respect of those institutions (ERRA). This body should enjoy a wide independence. Its head should be appointed
Amendment 725 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 2 The legislative act to be adopted should update and supplement the current proposal
Amendment 726 #
Motion for a resolution Annex – part 1 - point 1.3 – paragraph 2 A body at the European level should be established or designated to exercise the required resolution tools in respect of those institutions (ERRA). The overall purpose of an effective resolution scheme and recovery framework is to minimise the potential use of tax payer resources needed for the recovery and resolution of banking institutions; This body should enjoy a wide independence. Its head should be appointed after confirmation by the European Parliament.
Amendment 727 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 2 A body
Amendment 728 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 2 A body at European level should be established or designated to exercise the full range of required resolution tools in respect of those institutions (ERRA). This body should enjoy a wide independence. Its head should be appointed after confirmation by the European Parliament.
Amendment 729 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 3 In order to ensure adequate resources are
Amendment 730 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 3 A body
Amendment 731 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 4 These funds should be
Amendment 732 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 4 The ERRA fund should be
Amendment 733 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 4 The ERRA fund should be
Amendment 734 #
Motion for a resolution Annex – part 1 - point 1.3 – paragraph 3 - In order to ensure adequate resources are available for resolution actions to be taken, a fund should be created aimed at preserving stability and limiting
Amendment 735 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 4 The fund should be pan-European, funded ex-ante by the institutions concerned,
Amendment 736 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 4 The fund should be pan-European, funded ex-ante on a risk adjusted basis by the institutions concerned, and functionally separated from deposit-guarantee schemes while ensuring an effective articulation with it.
Amendment 737 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 4 The ERRA fund should be
Amendment 738 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 4 The fund should be pan-European, funded ex-ante by the institutions concerned, and separate from deposit-guarantee schemes. Deposit guarantee schemes could contribute to resolution for a maximum amount equivalent to the losses that it would have had to bear in normal insolvency proceedings. The fund should have access to ESM funding if necessary.
Amendment 739 #
Motion for a resolution Annex – part 1 - point 1.3 – paragraph 5 The resolution scheme should have a strong financial structure built on risk- adjusted contributions from industry with public money only serving as an ultimate backstop and to the minimum extent possible. However, Member States should have an obligation to ensure that the fund is of an adequate size.
Amendment 740 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 5 The resolution scheme should have a strong financial structure built on contributions from industry, owners and creditors, with public money only serving as an ultimate backstop. However, Member States should have an obligation to ensure that the fund is of an adequate size.
Amendment 741 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 5 The euro area resolution scheme should have a strong financial structure built on contributions from industry with public money only serving as an ultimate backstop. However, participating Member States should have an obligation to ensure that the fund is of an adequate size.
Amendment 742 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 5 The euro area resolution scheme should have a
Amendment 743 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 6 Amendment 744 #
Motion for a resolution 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 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 746 #
Motion for a resolution 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
Amendment 747 #
Motion for a resolution 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.
Amendment 748 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 6 a (new) The ESM should recapitalise banks directly as soon as regulation on the SSM has been approved.
Amendment 749 #
Motion for a resolution Annex – part 1 – point 1.3 – paragraph 7 The proposal should also accord with other aspects of the European Parliament's resolution of 7 July 2010 with recommendations to the Commission on Cross-Border Crisis Management in the Banking Sector, such as harmonisation of insolvency laws
Amendment 750 #
Motion for a resolution Annex – part 1 - point 1.3 a (new) Amendment 751 #
Motion for a resolution Annex – part 2 – point 2.1 – paragraph 1 – indent 3 - assessing the budgetary plans including a qualitative assessment of public investments and expenditures related to 'Europe 2020' objectives;
Amendment 752 #
Motion for a resolution Annex – part 2 – point 2.1 – paragraph 1 - indent 5 Amendment 753 #
Motion for a resolution Annex – part 2 – point 2.1 – paragraph 1 - indent 6 Amendment 754 #
Motion for a resolution Annex – part 2 – point 2.1 – paragraph 1 – indent 7 a (new) – An initiative specifying a set of programmes required for mobilizing additional long term investment of around 1 % of GDP for enhancing sustainable growth and complementing the required structural reforms for the ecological transformation of the European economy and a green job-rich recovery;
Amendment 755 #
Motion for a resolution Annex – part 2 – point 2.1 – paragraph 1 – indent 7 a – establishing a European redemption fund in order to secure a durable correction of excessive debt.
Amendment 756 #
Motion for a resolution Annex – part 2 – point 2.1 – paragraph 1 – indent 7 a (new) - establishing a European debt redemption fund.
Amendment 757 #
Motion for a resolution Annex – part 2 – point 2.1 – paragraph 1 – indent 7 a (new) -establishing a European redemption fund
Amendment 758 #
Motion for a resolution Annex – part 2 – point 2.1 – paragraph 1 – indent 7 b (new) - the immediate establishment of a European redemption fund as well as the immediate issuance of common short- term debt in the form of eurobills to reduce spreads, protect Member States from panic induced by negative externalities and the negative feedback loop between sovereign and banking crises;
Amendment 759 #
Motion for a resolution Annex – part 2 – point 2.1 – paragraph 1 – indent 7 c (new) - a roadmap towards fully fledged eurobonds with appropriate governance safeguards;
Amendment 760 #
Motion for a resolution Annex – part 2 – point 2.2 – paragraph 1 The Fiscal Compact should be
Amendment 761 #
Motion for a resolution Annex – part 2 – point 2.2 Amendment 762 #
Motion for a resolution Annex – part 2 – point 2.2 Amendment 763 #
Motion for a resolution Annex – part 2 - point 2.2 – title Recommendation 2.2 on the communautarisation of the Fiscal Compact
Amendment 764 #
Motion for a resolution Annex – part 2 – point 2.3 – title Recommendation 2.3:
Amendment 765 #
Motion for a resolution Annex – part 2 – point 2.3 – title Recommendation 2.3: Enhanced cooperation and harmonisation in the field of taxation
Amendment 766 #
Motion for a resolution Annex – part 2 – point 2.3 – paragraph -1 a (new) Amendment 767 #
Motion for a resolution Annex – part 2 – point 2.3 – paragraph 1 Amendment 768 #
Motion for a resolution Annex – part 2 – point 2.3 – paragraph 1 Amendment 769 #
Motion for a resolution Annex – part 2 - Point 2.3 – paragraph 1 Enhanced cooperation should be used more frequently in the field of taxation
Amendment 770 #
Motion for a resolution Annex – part 2 – point 2.3 – paragraph 1 Enhanced cooperation should be used more frequently in the field of taxation (such as for establishment of a CCCTB or a financial transaction tax) since harmonised frameworks for taxation will enhance budgetary policy integration. The type and the specific nature of enterprises concerned by the application of such measures should be considered.
Amendment 771 #
Motion for a resolution Annex – part 2 – point 2.3 – paragraph 1 - Enhanced cooperation should be used more frequently in the field of taxation (such as for establishment of a CCCTB with a minimum rate or a financial transaction tax) since harmonised frameworks for taxation will enhance budgetary policy integration.
Amendment 772 #
Motion for a resolution Annex – part 2 – point 2.3 – paragraph 1 Enhanced cooperation should be used more frequently in the field of taxation (such as for establishment of a CCCTB or a
Amendment 773 #
Motion for a resolution 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 774 #
Motion for a resolution Annex – part 2 – point 2.4 – title Recommendation 2.4: A central European budget
Amendment 775 #
Motion for a resolution Annex – part 2 – point 2.4 – paragraph 1 When formulating future policy options
Amendment 776 #
Motion for a resolution Annex – part 2 – point 2.4 – paragraph 1 a (new) The European Parliament has repeatedly expressed the urgent need for a reform of the own resource system and a return to the spirit and letter of the Treaty, stating that the Union budget shall be funded solely by own resources.
Amendment 777 #
Motion for a resolution Annex – part 2 – point 2.4 – paragraph 1 a (new) A "centralised" budget for the euro area could be funded through a common ad- hoc issuance.
Amendment 778 #
Motion for a resolution Annex – part 2 – point 2.4 – paragraph 1 a (new) The Union budget should increase notably to make it more functional and achieve a level of close to 5% of the Union GDP.
Amendment 779 #
Motion for a resolution 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 780 #
Motion for a resolution Annex – part 2 – point 2.4 a (new) Amendment 781 #
Motion for a resolution Annex – part 2 – point 2.4 a (new) Amendment 782 #
Motion for a resolution Annex – part 2 – point 2.4 b (new) Recommendation 2.4b: Single sovereign debt market The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: Create a single sovereign market for the whole euro area. The European budget authority would receive competencies over euro area debt management and it would be responsible for raising funds on behalf of Member States. Debt instruments would be backed by joint resources.
Amendment 783 #
Motion for a resolution Annex – part 2 – point 2.5 – paragraph 1 The free movement of capital
Amendment 784 #
Motion for a resolution 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 785 #
Motion for a resolution 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 finalise international agreement rounds and table proposals to improve cooperation and coordination between tax authorities. In addition, concrete changes in Union tax law in the form of a 'Tax Pact' to plug the holes used by companies for aggressive tax planning and for dodging taxes as well as comprehensive proposals tackling all aspects of tax havens and fiscal evasion within and beyond the borders of the Union.
Amendment 786 #
Motion for a resolution Annex – part 2 - point 2.5 – paragraph 1 a (new) Establish a financial transaction tax under enhanced cooperation in conformity with the provisions of Articles 326 to 333 TFEU;
Amendment 787 #
Motion for a resolution Annex – part 2 – point 2.5 a (new) Recommendation 2.5a on a golden rule for public finance The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: Each Member State should have a differentiated medium-term objective for its budgetary position. These country- specific medium-term budgetary objectives may diverge from the requirement of a close-to-balance or in- surplus position, while providing a safety margin with respect to the 3 % of GDP government deficit ratio. The medium- term budgetary objectives should ensure the sustainability of public finances or a rapid progress towards such sustainability while allowing room for budgetary manoeuvre, considering in particular the need for public investment. Taking these factors into account, for participating Member States and for Member States that are participating in ERM II the country-specific medium-term budgetary objectives should be specified within a defined range between minus 0.5% of GDP and balance or surplus, in cyclically adjusted terms, net of 2/5 of gross fixed capital formation as defined in the European System of Integrated Economic Accounts and net of one-off and temporary measures. For participating Member States, where the ratio of the general government rate to gross domestic product at market prices is below 60 % and where risks in terms of long-term sustainability of public finances are low, the country-specific medium-term budgetary objectives shall be specified within a defined range between a lower limit of a structural deficit of minus 1% of GDP at market prices and balance or in surplus, in cyclically adjusted terms, net of 2/5 of gross fixed capital formation as defined in the European System of Integrated Economic Accounts and one- offs and temporary measures.
Amendment 788 #
Motion for a resolution 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) 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) 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) 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) 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) Amendment 794 #
Motion for a resolution Annex – part 3 – point 3.1 Amendment 795 #
Motion for a resolution Annex – part 1 – point 3.1 – paragraph 1 Amendment 796 #
Motion for a resolution Annex – part 3 – point 3.1 – paragraph 1 a (new) A legal framework aiming at putting 'Europe 2020' commitments on the same foot as budgetary commitments so as to increase the quality of public spending and the overall sustainability of public finances should be established for enhanced and more binding coordination of economic policy. In the same rationale, common standards and procedures regarding National Reform Programmes should be defined under ordinary legislative procedure.
Amendment 797 #
Motion for a resolution Annex – part 3 - point 3.1 – paragraph 1 a (new) The Commission and the Council should fully and proactively use the flexibilities embedded in Union fiscal rules allowing a differentiated path for budgetary consolidation taking into account country-specific circumstances and the particular care to be provided to prioritising investments in future-oriented areas in case of a severe economic downturn;
Amendment 798 #
Motion for a resolution Annex – part 3 - point 3.1 – paragraph 1 b (new) The Commission and the Council should fully and proactively use the flexibilities embedded in Union fiscal rules allowing a differentiated path for budgetary consolidation taking into account country-specific circumstances and the particular care to be provided to prioritising investments in future-oriented areas in case of a severe economic downturn;
Amendment 799 #
Motion for a resolution Annex – part 3 – point 3.1 – paragraph 1 c (new) A youth European job guarantee scheme should be established and further Union instruments for European social protection and minimum social standards should be diligently explored;
Amendment 800 #
Motion for a resolution 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) 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) 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 803 #
Motion for a resolution Annex – part 3 – point 3.2 – paragraph 1 – indent 1 - The development and strengthening of the internal market and fostering international trade links are central to stimulating economic growth, increasing competitiveness and addressing macroeconomic imbalances; therefore, the Commission should be required to take into account in its Annual Growth Survey what steps
Amendment 804 #
Motion for a resolution Annex – part 3 – point 3.2 – paragraph 1 – indent 1 - The development and strengthening of the internal market and fostering international trade links are central to stimulating sustainable economic growth, increasing competitiveness and addressing a symmetric reduction of excessive macroeconomic imbalances; therefore, the Commission should be required to take into account in its Annual Growth Survey what steps Member States have taken to complete the internal market;
Amendment 805 #
Motion for a resolution 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 806 #
Motion for a resolution Annex – Part 3 – Point 3.2 – indent 1 a (new) - Regions with fiscal and legislative powers which an economic size close to median average of Member States, should be involved or invited to participate in the European Semester process in all its phases to make it more efficient.
Amendment 807 #
Motion for a resolution Annex – part 3 – point 3.2 – paragraph 1 – indent 2 - The European Semester should allow the development of greater synergy between Union and Member State budgets in view of achieving the targets of the "Europe 2020" strategy; with this, the European Semester should also be developed to include resource-efficiency indicators;
Amendment 808 #
Motion for a resolution Annex – part 3 - Point 3.2 – paragraph 1 – indent 3 - The involvement of regional and local authorities a
Amendment 809 #
Motion for a resolution Annex – part 3 – point 3.2 – paragraph 1 – indent 5 - The Commission should clearly assess, in the Annual Growth Survey, the main economic and fiscal problems of the Union and individual Member States, propose priority measures to overcome those problems, and identify the initiatives taken by the Union and the Member States to support enhanced competitiveness and long-term investment, to remove obstacles to sustainable growth, to achieve the targets laid down in the Treaties and the current "Europe 2020" strategy, to implement the seven flagship initiatives and to reduce macroeconomic imbalances. The Commission should fully disclose its underlying macroeconomic methodologies and assumptions;
Amendment 810 #
Motion for a resolution Annex – part 3 – point 3.2 – paragraph 1 – indent 9 - The Council should come to the European Parliament in July to explain any significant changes it
Amendment 811 #
Motion for a resolution 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 812 #
Motion for a resolution Annex – part 3 – point 3.2 – paragraph 1 Amendment 813 #
Motion for a resolution Annex – part 3 – Point 3.2 – paragraph 6 The Member States and their regions should involve, in particular, national and regional parliaments, as well as social partners, public authorities and civil society more closely in the formulation of national reform, development and cohesion programmes, and consult them regularly;
Amendment 814 #
Motion for a resolution Annex – part 3 – point 3.2 a (new) Amendment 815 #
Motion for a resolution Annex – part 3 – point 3.2 a (new) Amendment 816 #
Motion for a resolution Annex – part 4 – point 4.1 Amendment 817 #
Motion for a resolution Annex – part 4 – Point 4.1 – paragraph 1 The Commission should be required to implement comprehensively the compromises reached in the Econ
Amendment 818 #
Motion for a resolution 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 scrutiny by the European Parliament, as well as the involvement of the Court of Auditors and the OLAF.
Amendment 819 #
Motion for a resolution 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
Amendment 820 #
Motion for a resolution 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 scrutiny by the European Parliament. The ESM should be communautarised.
Amendment 821 #
Motion for a resolution Annex – part 4 – Point 4.3 – indent 1 - The
Amendment 822 #
Motion for a resolution Annex – part 4 – point 4.3 – indent 1 - The European Parliament should vote as co-legislator before the Spring Council on the Annual Growth Survey with proposals for amendments to be submitted to the European Council; the President of the European Parliament shall present at the European Spring Council the Parliament’s views on the Annual Growth Survey;
Amendment 823 #
Motion for a resolution Annex – part 4 – point 4.3 – indent 1 a (new) - The overall functioning of the cooperation and coordination between national parliaments and the European Parliament should be improved;
Amendment 824 #
Motion for a resolution Annex – part 4 – point 4.3 a (new) Recommendation 4.3a on the election of the next Commission President The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: The next President of the Commission should first have been elected to the European Parliament and have been the electoral champion of his or her political party. In the longer term and only following the modification of the current Treaty, the President of the Commission should be elected directly by the Union's citizens. The elected President shall have the sole responsibility for the composition of the College.
Amendment 825 #
Motion for a resolution Annex – part 4 – point 4.3 b (new) Recommendation 4.3b on the next European elections The European Parliament considers that the legislative act to be adopted should aim to regulate as follows: The next elections to the European Parliament should have a proportion of its members elected on a trans-European list. The European elections should all happen on the same day across the whole Union and the date brought forward to May.
Amendment 826 #
Motion for a resolution Annex – part 4 – point 4.4 – title Recommendation 4.4 on increasing transparency, legitimacy and accountability
Amendment 827 #
Motion for a resolution Annex – part 4 – point 4.4 – indent 1 - In order to reinforce transparency, Ecofin and the Eurogroup should be required to transmit to the European Parliament key internal documents, agendas and background material in advance of their meetings; in addition, the president of the Eurogroup should regularly appear before the European Parliament, e.g. in the form of hearings to be organised under the auspices of the Committee for Economic and Monetary Affairs;
Amendment 828 #
Motion for a resolution Annex – part 4 – Point 4.4 – indent 1 - In order to reinforce transparency, the ECB, the Ecofin and the Eurogroup should be required to transmit to the European Parliament key internal documents, agendas and background material in advance of their meetings including those relating to the EFC;
Amendment 829 #
Motion for a resolution Annex – part 4 – point 4.4 – indent 2 - The European Parliament
Amendment 830 #
Motion for a resolution Annex – part 4 – point 4.4 – indent 3 - The President of the European Parliament should be invited, where appropriate, to participate in the European Council meetings and the euro
Amendment 831 #
Motion for a resolution Annex – part 4 – point 4.4 – indent 5 - The E
Amendment 832 #
Motion for a resolution Annex – part 4 – point 4.4 – indent 6 - The Commission troika representative(s)
Amendment 833 #
Motion for a resolution Annex – part 4 – point 4.4 – indent 6 a (new) - The President of the European Council, when involved in the design of specific and detailed policy proposals, should present his proposals in front of the competent committee of the European Parliament.
Amendment 834 #
Motion for a resolution 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 835 #
Motion for a resolution Annex – part 4 – point 4.4 – indent 6 a (new) - Democratic legitimacy of the Union cannot be separated from the perceived welfare created by the Union. Thus the social dimension of the project cannot be forgotten. There is a need to step up the discussion of building a true "social union" with the ultimate goal of guaranteeing pan-European basic social security and basic social services;
Amendment 836 #
Motion for a resolution Annex – part 4 – point 4.4 – indent 6 b (new) The Heads of State or Government when acting collectively in the framework of the European Council should be subject to regular reporting to the European Parliament.
Amendment 837 #
Motion for a resolution 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) - 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) - 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;
source: PE-496.553
2012/10/08
BUDG
16 amendments...
Amendment 1 #
Draft opinion Recital A A. Whereas the debt crisis has prompted the Union and
Amendment 10 #
Draft opinion Paragraph 2 2. Further budgetary coordination within the Union requires consolidated data on the public accounts of the Union, Member States and local and regional authorities, reflecting the Union's objectives. The Commission should therefore include the establishment of such consolidated data in upcoming legislative proposals
Amendment 11 #
Draft opinion Paragraph 3 3. The situation whereby the financing needs of the Union Budget conflict with the necessary budget consolidation in Member States should be addressed urgently
Amendment 12 #
Draft opinion Paragraph 3 3. The situation whereby the financing needs of the Union Budget conflict with the necessary budget consolidation in Member States should be addressed urgently. The time has come, therefore, to engage in a progressive return to a situation in which the Union Budget is financed by genuine own resources, which would relieve national budgets accordingly; reminds furthermore its resolutions of 29 March 20071, 8 June 20112, 13 June 20123 and of 23 October of 20124 in which it explained its views on what a genuine own resources system means and how to make this system compatible with the needed fiscal consolidation at national level in short term; _______________ 1 OJ C 27 E, 31.1.2008, p. 214 2 Texts adopted, P7_TA(2011)0266. 3 Texts adopted, P7_TA(2012)0245. 4 in the interests of achieving a positive outcome of the Multiannual Financial Framework 2014-2020 approval procedure (COM(2012)0388 – 2011/0177(APP))
Amendment 13 #
Draft opinion Paragraph 4 Amendment 14 #
Draft opinion Paragraph 4 4. In the meantime, the Commission should explore the possibility of excluding, in a spirit of solidarity and consistency, Member States' gross GNI-based contributions to the Union Budget as well as their part in the co-financing of EU programs/funds from the calculation of the structural deficit as defined in the 'two- pack' and in the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union.
Amendment 15 #
Draft opinion Paragraph 4 a (new) 4a. All decisions related to the strengthening of the economic and monetary union have to be taken on the basis of the Treaty on the European Union; any departure from the community method and increased use of intergovernmental agreements shall divide and weaken the European Union, including the euro area.
Amendment 16 #
Draft opinion Paragraph 4 b (new) 4b. The Member States that are not willing to participate in a particular cooperation instrument should be able to opt out on a temporary basis, if this decision is well founded but they should not block the decisions of the EU institutions.
Amendment 2 #
Draft opinion Recital A A. Whereas the debt crisis has prompted the Union and Member States to set up new financial solidarity instruments in Europe: the European Financial Stability Facility (EFSF), the European Stability Mechanism (ESM) and other projects related to the 'banking union'; whereas the financial impact of those instruments is much greater, in terms of the amounts involved, than the Union Budget
Amendment 3 #
Draft opinion Recital B B. Whereas the multiplication of these s
Amendment 4 #
C. Whereas, without appropriate consolidated data on the public accounts of the Union, Member States and local and regional authorities, it is impossible to assess the right policy mix within the euro area and within the rest of the Union; whereas such data should also make it possible to evaluate which proportion of national, regional and local budgets is dedicated to the financing of the Union's objectives, such as the Europe 2020 strategy; whereas, currently, even the magnitude of such basic data is unknown;
Amendment 5 #
Draft opinion Recital C a (new) Ca. Whereas all risks and benefits of the euro area affect the entire Union; whereas the stability of the euro is a concern of all EU Member States and all solutions have to be based on the provisions of the Treaty, at the level of the entire EU, involving all relevant Union’s institutions;
Amendment 6 #
Draft opinion Recital C b (new) Cb. Whereas any division of the EU, being on the line of the euro area membership or elsewhere threatens the achievements of the Union and impairs its capabilities;
Amendment 7 #
Draft opinion Recital C c (new) Cc. Whereas the Pact for Growth and Jobs, which was approved at the European Summit of 28 and 29 June 2012, can bring an important contribution to growth, employment and improved European competition capacities, the Union and the Member States must take on their responsibility and act quickly by allowing the necessary resources;
Amendment 8 #
Draft opinion Recital C d (new) Cd. 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 a genuine own resource;
Amendment 9 #
Draft opinion Paragraph 1 1. All commitments and guarantees undertaken by the Union or by some of its Member States in the framework of the new European s
source: PE-496.670
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