2021/2061(INI) Economic policies of the euro area 2021
Lead committee dossier:
Progress: Awaiting committee decision
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Lead | ECON |
PIETIKÄINEN Sirpa ( EPP)
|
SCHUSTER Joachim ( S&D),
NAGTEGAAL Caroline ( Renew),
HAHN Henrike ( Verts/ALE),
BECK Gunnar ( ID),
JURZYCA Eugen ( ECR),
SCHIRDEWAN Martin ( GUE/NGL)
|
| Committee Opinion | BUDG |
Lead committee dossier:
Legal Basis:
RoP 54
Legal Basis:
RoP 54Subjects
Events
Documents
| Amendments | Dossier |
| 295 |
2021/2061(INI)
2021/07/15
ECON
295 amendments...
Amendment 1 #
Motion for a resolution Citation 1 a (new) – having regard to the Paris Agreement of the United Nations Framework Convention on Climate Change and the Sustainable Development Goals,
Amendment 10 #
Motion for a resolution Citation 17 a (new) – having regard to the Commission Communication of 17 September 2020 entitled ‘Annual Sustainable Growth Strategy 2021’ (COM(2020)0575),
Amendment 100 #
Motion for a resolution Paragraph 4 4. Is pleased that, according to
Amendment 101 #
Motion for a resolution Paragraph 4 4. Is pleased that, according to the Commission, economic activity in the EU is expected to pick up in all Member States, with acceleration as of the second half of 2021, as containment measures are gradually relaxed and vaccination progresses, reflecting the growth impulse stemming from the expected implementation of the national recovery and resilience plans; remains concerned, however, that the speed of the recovery will vary across Member States and regions;
Amendment 102 #
Motion for a resolution Paragraph 4 a (new) 4a. Highlights the importance of increasing women’s participation in the economy and ensuring more inclusive growth as part of the solution to the post- pandemic recovery, as equal opportunities and greater labour market participation among women can increase jobs, economic prosperity and competitiveness in the EU; furthermore reiterates Parliament's position in its resolution of 21 January 2021 'The gender perspective in the COVID-19 crisis and post-crisis period' that calls on Member States "to follow the Commission’s Guidelines for Employment Policies in the EU, having due regard to their national labour market models" and "to take due account of labour market segregation, precarious employment, pay and pension gaps with a view to improving working conditions and social protection through tailored policies";
Amendment 103 #
Motion for a resolution Paragraph 4 a (new) 4a. Underlines that as the recovery takes hold, its focus will have to shift from damage control to strengthening the recovery and resilience of the EU economy and that the implementation of the national Recovery and Resilience Plans under the NextGenerationEU programme should serve this purpose;
Amendment 104 #
Motion for a resolution Paragraph 4 a (new) 4a. Notes that according to European Court of Auditors review growing divergences between Member States can also arise from large and persistent unemployment, investment gaps, and risks to financial stability if the economic impact spreads to the financial sector1a; _________________ 1a https://www.eca.europa.eu/Lists/ECADoc uments/RW20_06/RW_Economic_respon se_to_Covid19_EN.pdf
Amendment 106 #
Motion for a resolution Paragraph 5 5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is expected to be deactivated as of 2023;
Amendment 107 #
Motion for a resolution Paragraph 5 5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is expected to be deactivated as of 2023; expects however that the general escape clause will remain activated as long as the underlying justification of the activation exists in order to support the efforts of the Member States to recover from the pandemic crisis and strengthen their competitiveness, as well as economic and social resilience; notes, furthermore, that the decision to deactivate the general escape clause should be taken as an overall assessment of the state of the economy
Amendment 108 #
Motion for a resolution Paragraph 5 5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is expected to be deactivated as of 2023; notes, furthermore, that the decision to deactivate the general escape clause should be taken as an overall assessment of the state of the economy based on quantitative criteria, with the level of economic activity in the EU compared to pre-crisis levels as one of the key quantitative criterion; points out that country-specific situations will continue to be taken into account after the deactivation of the general escape clause; calls on the Commission to use the deactivation period to reform the EU fiscal framework towards a streamlined framework which uses clear and observable indicators, while eliminating unnecessary complexities, and introduces robust enforcement mechanisms to ensure that rules are enforced consistently and impartially;
Amendment 109 #
Motion for a resolution Paragraph 5 5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is concerned that it is expected to be deactivated as of 2023;
Amendment 11 #
Motion for a resolution Citation 17 b (new) – having regard to the interinstitutional agreement of 16 December 2020 on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources (P9_TA- PROV(2020)0358),
Amendment 110 #
Motion for a resolution Paragraph 5 5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is expected to be deactivated as of 2023; notes, furthermore, that the decision to deactivate the general escape clause should be taken as an overall assessment of the state of the economy based on quantitative criteria, with the level of economic activity in the EU compared to pre-crisis levels as the key quantitative criterion; points out that
Amendment 111 #
Motion for a resolution Paragraph 5 5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is expected to be deactivated as of 2023; notes
Amendment 112 #
Motion for a resolution Paragraph 5 5.
Amendment 113 #
Motion for a resolution Paragraph 5 5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is expected to be deactivated as of 2023; notes, furthermore, that the decision to deactivate the general escape clause should be taken as an overall assessment of the state of the economy based on quantitative criteria, with the level of economic activity in the EU compared to pre-crisis levels as the key quantitative criterion; stresses, however, in this regard, the importance of the evolution of the health, social and economic situations across the EU and the euro area economy; points out that country-specific situations will continue to be taken into account after the deactivation of the general escape clause;
Amendment 114 #
Motion for a resolution Paragraph 5 5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022
Amendment 115 #
Motion for a resolution Paragraph 5 a (new) 5a. Supports that the current fiscal rules framework is unresponsive to spending quality and presents conceptual and practical weaknesses that lead to overly complex rules, weak enforcement, and effectively pro-cyclical fiscal policies; underlines that gross public investment was cut following the financial and sovereign debt crisis, and in many Member States net public investment is even negative implying that the current fiscal framework leads to too recessive consolidation measures; stresses that the challenge of the green transition requires additional public investment, which cannot be provided under current fiscal rules framework;
Amendment 116 #
Motion for a resolution Paragraph 5 a (new) 5a. Regrets the activation of the general escape clause of the Stability and Growth Pact, and expects that it will remain activated at least until 2023 in order to allow increased public spending and debt financing of the Member States, which will only increase market volatility; urges the Commission and the Member States to focus rather on sustainable recovery from the consequences of the lockdown measures following the pandemic crisis and strengthen their economic and social resilience;
Amendment 117 #
Motion for a resolution Paragraph 5 a (new) 5a. Favours a comprehensive review of the European Union’s economic governance framework, in particular with respect to the Stability and Growth Pact and the European Semester; calls, therefore, on the Commission to put forward specific proposals as soon as possible; favours the swift completion of this review process before the deactivation of the general escape clause and therefore before the end of 2022;
Amendment 118 #
Motion for a resolution Paragraph 5 a (new) 5a. Recognises the efforts of all the administration levels of the Member States to recover from the pandemic, economic and health crisis, and specially those responsible for the public health systems; considers, by the time the escape clause is repealed, that Member States governments shall distribute their planned deficit targets among its different levels of administration proportionally to their relative participation in the general expenditure of the Member State;
Amendment 119 #
Motion for a resolution Paragraph 5 a (new) 5a. Reiterates its stance that a proper and credible economic governance framework is a necessary requirement for sustainable fiscal policies, debt and deficit trajectories ensuring credible paths of debt reduction; stresses the importance of a sustainable debt level for the real economy;
Amendment 12 #
Motion for a resolution Citation 17 b (new) – having regard to the European Parliament’s resolution on a comprehensive Union policy on preventing money laundering and terrorist financing - the Commission’s Action Plan and other recent developments (B9-0207/2020),
Amendment 120 #
5a. Is of the opinion that the review of the EU economic governance framework is necessary; agrees with the European Fiscal Board (EFB) on the importance of having a clear pathway towards a reviewed fiscal framework, preferably prior to the deactivation of the general escape clause;
Amendment 121 #
Motion for a resolution Paragraph 5 a (new) 5a. Reminds that according to European Court of Auditors countries that entered the crisis with already high levels of public debt may face increased vulnerability1a; regrets the poor enforcement of the EU fiscal rules before the COVID-19 pandemic in this regard; _________________ 1a https://www.eca.europa.eu/Lists/ECADoc uments/RW20_05/RW_Financial_crisis_p revention_EN.pdf
Amendment 122 #
Motion for a resolution Paragraph 5 b (new) 5b. Notes that the EU should strive for a "Maastricht 2.0", namely automatic sanctions against Member States that persistently violate the principles of public budget management, including non- financial sanctions, such as the suspension of the right to vote in the Council of Economic and Finance Ministers; calls on the Commission to ensure compliance of the Member States with the rules of the fiscal pact and make it a condition for accessing cohesion funds; calls furthermore on making the indicator for fiscal sustainability ("S2"), calculated by the European Commission, a binding component of the assessment of national budgets within the framework of the Stability and Growth Pact;
Amendment 123 #
Motion for a resolution Paragraph 5 b (new) 5b. Reiterates its call for the revision of the EU fiscal rules framework; highlights the EFB’s opinion that some clearly delineated sustainable expenditure needs to be excluded from the renewed fiscal rules; supports that under the new fiscal framework, such favourable treatment should apply to expenditure compliant with the EU’s green and forthcoming social Taxonomy;
Amendment 124 #
Motion for a resolution Paragraph 5 b (new) 5b. Recalls the specific need to prepare an orderly break-up of the euro area; calls on the Commission to prepare withdrawal scenarios for Member States to leave the euro area, including a proposal for a Treaty change to make it possible to expel Member States from the euro area, when in persistent violation of SGP rules and in persistent TARGET-2 imbalance;
Amendment 125 #
Motion for a resolution Paragraph 5 c (new) 5c. Considers it essential that the escape clause is repealed as soon as possible, and to reduce high public debt ratios to an absolute minimal value in the long term;
Amendment 126 #
Motion for a resolution Paragraph 6 6. Is gravely concerned that according to the baseline scenario of the Commission’s latest Debt Sustainability Monitor, the debt ratio in the euro area is to peak at 104.6 % in 2024 and 2025, while the debt ratio in the Union is to peak at 96.5 % in 2024, before declining once again; notes that these high aggregated debt levels are not only a consequence of the Covid-19 crisis, but also of lax fiscal policies over the past years and poor enforcement of the EU's fiscal rules;
Amendment 127 #
Motion for a resolution Paragraph 6 6.
Amendment 128 #
Motion for a resolution Paragraph 6 6. Is concerned that according to the baseline scenario of the Commission’s latest Debt Sustainability Monitor, the debt ratio in the euro area is to peak at 104.6 % in 2024 and 2025, while the debt ratio in the Union is to peak at 96.5 % in 2024
Amendment 129 #
Motion for a resolution Paragraph 6 6.
Amendment 13 #
Motion for a resolution Citation 19 a (new) – having regard to the Commission’s Communication of 6 December 2017 Further Steps Towards Completing Europe’s Economic and Monetary Union: A Roadmap (COM(2017)821),
Amendment 130 #
Motion for a resolution Paragraph 6 6.
Amendment 131 #
Motion for a resolution Paragraph 6 6.
Amendment 132 #
Motion for a resolution Paragraph 6 a (new) 6a. Considers that debt targets must properly reflect the new economic reality as well as country-specific challenges; notes the importance of establishing a sustainable pace of sovereign debt reduction, particularly for Covid-linked debt, thus preventing fiscal consolidation from harming economic performance and output;
Amendment 133 #
Motion for a resolution Paragraph 6 a (new) 6a. Calls for the cancellation of public debt already purchased by the ECB to support Member States in making the necessary investment to recover from the crisis;
Amendment 134 #
Motion for a resolution Paragraph 6 a (new) 6a. Underlines the importance of decreasing public debts to lower levels; warns against higher debt financing costs once monetary accommodation is reduced;
Amendment 135 #
Motion for a resolution Paragraph 7 7. Is convinced that coordination of national fiscal policies
Amendment 136 #
Motion for a resolution Paragraph 7 7. Is convinced that coordination of national fiscal policies remains crucial in underpinning the recovery;
Amendment 137 #
Motion for a resolution Paragraph 7 7. Is convinced that coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance, taking into account national budgets and the RRF, should remain supportive
Amendment 138 #
Motion for a resolution Paragraph 7 7. Is convinced that coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance, taking into account national budgets and the RRF, should remain supportive
Amendment 139 #
Motion for a resolution Paragraph 7 7. Is convinced that coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance, taking into account national budgets and the RRF, should remain supportive in 2021 and 2022 to ensure that the RRF’s impact is lasting, sustainable, and fairy distributed across societies and regions;
Amendment 14 #
Motion for a resolution Citation 19 a (new) – having regard to the Commission´s State Aid Scoreboard 2020,
Amendment 140 #
Motion for a resolution Paragraph 7 7. Is convinced that coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance, taking into account national budgets and the RRF, should remain supportive in 2021 and 2022; calls on the Commission to share the best practices of fiscal consolidation efforts between Member States;
Amendment 141 #
Motion for a resolution Paragraph 7 7. Is convinced that coordination of national fiscal policies remains crucial in underpinning the recovery;
Amendment 142 #
Motion for a resolution Paragraph 7 a (new) 7a. Notes that the more highly indebted Member States are receiving a disproportionate volume of funding under the Recovery and Resilience Facility; is concerned that rewarding debt may give rise to a moral hazard problem;
Amendment 143 #
Motion for a resolution Paragraph 8 8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted, and that a premature withdrawal of fiscal support should be avoided;
Amendment 144 #
Motion for a resolution Paragraph 8 8.
Amendment 145 #
Motion for a resolution Paragraph 8 8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted
Amendment 146 #
Motion for a resolution Paragraph 8 8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted, and that a premature withdrawal of fiscal support should be avoided; further highlights the expectation that economic activity will gradually normalise in the second half of 2021 and agrees that Member States’ fiscal policies should be
Amendment 147 #
Motion for a resolution Paragraph 8 8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted, and that a premature withdrawal of fiscal support should be avoided; further highlights the expectation that economic activity will gradually normalise in the second half of 2021 and agrees that Member States’ fiscal policies should
Amendment 148 #
Motion for a resolution Paragraph 8 8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted
Amendment 149 #
Motion for a resolution Paragraph 8 8. Highlights that fiscal policy should remain agile and flexible to adjust to the evolving situation as warranted, and that a premature withdrawal of fiscal support should be avoided at all costs; further highlights the expectation that economic activity will gradually normalise in the second half of 2021 and agrees that Member States’ fiscal policies should become more differentiated in 2022, duly taking into account the state of the recovery, fiscal sustainability, geographic and demographic limitations, and the need to reduce economic, social and territorial divergences;
Amendment 15 #
Motion for a resolution Citation 19 b (new) – having regard to the Joint Employment Report 2021,
Amendment 150 #
Motion for a resolution Paragraph 8 8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted, and that a premature withdrawal of fiscal support should be avoided; further highlights the expectation that economic activity will gradually normalise in the second half of 2021, depending on the further evolution of the pandemic, and agrees that Member States’ fiscal policies should become more differentiated in 2022, duly taking into account the state of the recovery, fiscal sustainability and the need to reduce economic, social and territorial divergences;
Amendment 151 #
Motion for a resolution Paragraph 8 8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted, and that a premature or rapid withdrawal of fiscal support should be avoided; further highlights the expectation that economic activity will gradually
Amendment 152 #
Motion for a resolution Paragraph 8 a (new) 8a. Recognises that the fiscal supports introduced by Member States at the beginning of the COVID-19 pandemic must be withdrawn eventually; however, believes that the withdrawal of these supports must be done in a gradual and coordinated way with the help of the European Semester process and should be pivoted to more targeted and forward- looking measures that promote a resilient and sustainable recovery; considers that the premature or rapid removal of fiscal supports could lead to acute negative consequences for businesses and citizens that are still affected by the COVID-19 pandemic;
Amendment 153 #
Motion for a resolution Paragraph 8 a (new) 8a. Highlights the need to shift taxes from income to other sources, such as pollution, and from wealth of EU citizens to wealth of non-EU citizens, such as property within the EU or shares in European companies acquired by non-EU citizens; regrets in this regard that according the Commission´s 2020 report on taxation trends in the EU there has been no shift in taxation in the last 15 years;
Amendment 154 #
Motion for a resolution Paragraph 8 a (new) 8a. Underlines that fiscal responsibility can be achieved not only by imposing limits to spending, but also by increasing revenues for government; supports governments’ efforts to increase revenues through the closing of loopholes for tax avoidance and the increasing of capital-gains, wealth and corporate income taxes;
Amendment 155 #
Motion for a resolution Paragraph 8 a (new) Amendment 156 #
Motion for a resolution Paragraph 8 b (new) 8b. Supports cooperation by governments at both the EU and global level to put an end to the global race to the bottom in tax rates and increase their ability to levy taxes; shames the EU countries participating in the Inclusive Framework who have not yet signed on to the global minimum effective tax rate, Estonia, Ireland and Hungary, for undermining the ability of EU governments to raise sufficient revenues, thereby damaging the long-term fiscal sustainability of the EU; Reminds that Cyprus does not participate in the negotiations under the Inclusive Framework; Urges these four countries to support a minimum effective tax rate at the EU level;
Amendment 157 #
Motion for a resolution Paragraph 8 b (new) 8b. Stresses European Parliament’s position that, in line with the EFB proposal, an expenditure rule with a ceiling on nominal public expenditure when a country’s public debt exceeds a certain threshold can provide more transparent fiscal rules within the EU1a; _________________ 1a https://www.europarl.europa.eu/doceo/doc ument/TA-9-2021-0358_EN.html
Amendment 158 #
Motion for a resolution Paragraph 8 b (new) 8b. Deplores the abuse of the crisis to further loosen monetary and fiscal policy, at both EU and Member State level, as well as the European Recovery Plan and its proposed partial debt-financing; recalls that debt-financing is prohibited under article 311 TFEU;
Amendment 159 #
Motion for a resolution Paragraph 9 9. Notes that Member States with high
Amendment 16 #
Motion for a resolution Citation 19 c (new) – having regard to the Commission´s report on taxation trends in the EU 2021,
Amendment 160 #
Motion for a resolution Paragraph 9 9. Notes that Member States with high debt should use the RRF to finance additional investment to support the recovery
Amendment 161 #
Motion for a resolution Paragraph 9 9.
Amendment 162 #
Motion for a resolution Paragraph 9 9. Notes that Member States with high debt should use the RRF to finance additional investment to support the
Amendment 163 #
Motion for a resolution Paragraph 9 9. Notes that Member States, especially those with higher debt levels, should use all of the RRF
Amendment 164 #
Motion for a resolution Paragraph 9 9. Notes that Member States with high debt should use the RRF to finance additional investment to support the recovery, while pursuing
Amendment 165 #
Motion for a resolution Paragraph 9 9. Notes that Member States with high debt should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscal policy; warns that boosting public investment should not be seen as an alternative to productivity-enhancing reforms; stresses the importance of the Member States using the potential of the R
Amendment 166 #
Motion for a resolution Paragraph 9 9. Notes that Member States with high debt should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscal policy; stresses the importance of the Member States using the potential of the RFF to support the
Amendment 167 #
Motion for a resolution Paragraph 9 9. Notes that Member States with high debt should use the RRF to finance additional investment to support the recovery in order to benefit from a lower interest rate, while pursuing a prudent fiscal policy; stresses the importance of the Member States using the potential of the RFF to support the necessary structural changes and the transformation to more globally competitive, future-proof, agile industries; agrees that the growth of nationally financed current expenditure should be kept under control and be limited for Member States with high debt, allowing fiscal measures to maximise support to the recovery without pre-empting future fiscal trajectories and creating a permanent burden on public finances;
Amendment 168 #
Motion for a resolution Paragraph 9 9. Notes that Member States
Amendment 169 #
Motion for a resolution Paragraph 9 9. Notes that Member States with high debt levels should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscal policy; stresses the importance of the Member States using the potential of the RFF to support the necessary structural changes and the transformation to more globally competitive, future-proof, agile industries; agrees that the growth of
Amendment 17 #
Motion for a resolution Recital A Amendment 170 #
Motion for a resolution Paragraph 9 a (new) 9a. Urges Member States to implement their national recovery and resilience plans swiftly, transparently and competently, channelling funds allocated to boosting private investment, to supporting micro, small and medium- sized enterprises, and to modernising productive sectors, in particular those most affected by the pandemic; regrets, in this regard, the absorption of a large part of RRF funds by public administrations in some countries, a phenomenon that significantly reduces the capacity of businesses to finance projects;
Amendment 171 #
Motion for a resolution Paragraph 10 Amendment 172 #
Motion for a resolution Paragraph 10 a (new) 10a. Highlights that according to the Commission´s state aid scoreboard 2020, the Member States with the highest need for investment and the lowest state aid expenditure as percentage of GDP, are the Member States with the least fiscal space to invest, making these Member States heavily dependent on the EU debt- financed Next Generation EU Programme; stresses that this creates an enormous moral hazard; recalls that programmes like SURE and the Next Generation EU are one-offs;
Amendment 173 #
Motion for a resolution Paragraph 10 a (new) 10a. Takes into consideration the systemic weakening of healthcare systems in many Member States of the EU also due to a reduction of public spending in the sector; proposes to exclude health related expenses from the calculation of the structural balance until a suitable upgrade of the European public health sector is achieved;
Amendment 174 #
Motion for a resolution Paragraph 10 a (new) 10a. Points out that persistently low interest rates make national budgets look better than they would during periods of normal interest rates;
Amendment 175 #
Motion for a resolution Paragraph 10 b (new) 10b. Warns against underestimating the burden of debt on future generations; stresses the importance of the principle of intergenerational justice;
Amendment 176 #
Motion for a resolution Paragraph 11 a (new) 11a. Welcomes the fact that the Annual Sustainable Growth Strategy 2021 confirms the refocusing of the European Semester (Semester) process to place sustainability, health and the wellbeing of citizens at the centre of economic and social policies;
Amendment 177 #
Motion for a resolution Paragraph 11 b (new) 11b. Stresses that the alignment of the Semester process with the EU’s long-term climate, environmental and social objectives is crucial and must be accelerated, as per the Commission’s engagements under the Green Deal;
Amendment 178 #
Motion for a resolution Paragraph 11 c (new) 11c. Calls on the Commission to address the distributional consequences of the transition to a climate neutral economy in the upcoming Annual Sustainable Growth Strategy 2022 and to analyse the distributional fairness of taxation and social policies in relation to the transition in the country reports;
Amendment 179 #
Motion for a resolution Paragraph 12 Amendment 18 #
Motion for a resolution Recital A A. whereas the European Semester
Amendment 180 #
Motion for a resolution Paragraph 12 12. Notes that environmental sustainability, productivity, competitiveness, fairness and macroeconomic stability remain the guiding principles of the EU’s economic agenda; stresses, furthermore, that the digital transformation of our societies, businesses and economies is crucial in order to increase Europe’s productivity and competitiveness for a robust recovery, in line with the Digital Decade; considers that the growing digital gaps and divides across regions (urban/rural) and between socioeconomic groups (gender/income/age) must be addressed as a matter of urgency through Digital Decade strategy to ensure inclusive participation in the digital economy and digital transformation;
Amendment 181 #
Motion for a resolution Paragraph 12 12. Notes that environmental sustainability, productivity, fairness and macroeconomic stability remain the guiding principles of the EU’s economic agenda in line with the European Green Deal and the EU target of achieving climate neutrality by 2050 at the latest; stresses, furthermore, that the digital transformation of our societies, businesses and economies is crucial in order to increase Europe’s productivity and competitiveness for a robust recovery, in line with the Digital Decade;
Amendment 182 #
Motion for a resolution Paragraph 12 12. Notes that environmental sustainability, productivity, fairness, mitigation of regional inequalities, convergence of European economies and macroeconomic stability remain the guiding principles of the EU’s economic agenda; stresses, furthermore, that the digital transformation of our societies, businesses and economies is crucial in order to increase Europe’s productivity and
Amendment 183 #
Motion for a resolution Paragraph 12 12. Notes that environmental sustainability, productivity, fairness and macroeconomic stability remain the guiding principles of the EU’s economic agenda complemented through the six priorities of the RRF; stresses, furthermore, that the digital, green and just transformation of our societies, businesses and economies is crucial in order to increase Europe’s productivity and competitiveness for a robust recovery, in line with the Digital Decade;
Amendment 184 #
Motion for a resolution Paragraph 12 12. Notes that environmental sustainability, productivity, fairness, fiscal discipline and macroeconomic stability remain the guiding principles of the EU’s economic
Amendment 185 #
Motion for a resolution Paragraph 12 12. Notes that environmental sustainability, productivity, social fairness and macroeconomic stability remain the guiding principles of the EU’s economic agenda; stresses
Amendment 186 #
Motion for a resolution Paragraph 12 a (new) 12a. Stresses that responsible fiscal and sustainable policies are a tool to achieve the overarching EU priorities as enshrined in the treaties: sustainable development based on balanced economic growth and price stability, a highly competitive social market economy aiming at full employment and social progress, a high level of protection and improvement of the quality of the environment;
Amendment 187 #
Motion for a resolution Paragraph 12 a (new) 12a. Welcomes the European Green Deal as the EU’s new sustainable growth strategy bringing together four dimensions: environment, productivity, stability and fairness, enabled by digital and green technologies, an innovative industrial base and strategic autonomy;
Amendment 188 #
Motion for a resolution Paragraph 12 a (new) 12a. Calls on the Member States to take action to further tackle tax fraud, tax avoidance, and tax evasion, as well as money laundering; looks forward to the Commission’s legislative proposals expected in 2021 on these matters;
Amendment 189 #
Motion for a resolution Paragraph 12 b (new) 12b. Calls on the Commission and the Council to ensure that gender equality and equal opportunities for all, and the mainstreaming of those objectives, are addressed in the country-specific recommendations and taken into account and promoted throughout the preparation and implementation of recovery and resilience plans;
Amendment 19 #
Motion for a resolution Recital A A. whereas the European Semester plays an essential role in coordinating economic, employment, social and budgetary policies in the Member States; notes that the Semester, has been expanded to include, among other aspects, issues related to the financial sector and taxation, as well as objectives of the UN SDGs; notes that in order to further strengthen economic and social resilience, the EU must deliver on the principles of the European Pillar of Social Rights;
Amendment 190 #
Motion for a resolution Subheading 2 Socially balanced, inclusive and sustainable structural reforms
Amendment 191 #
Motion for a resolution Paragraph -13 (new) -13. Considers that coordinating national investment and reform efforts will be crucial to increase convergence and resilience, to promote sustainable and inclusive growth and to improve institutional frameworks;
Amendment 192 #
Motion for a resolution Paragraph 13 Amendment 193 #
Motion for a resolution Paragraph 13 13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key structural challenges and investment needs
Amendment 194 #
Motion for a resolution Paragraph 13 13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key structural challenges and investment needs, while embracing the green and digital transitions; Reiterates Parliament´s calls for the Commission to ensure balance between reforms and investments and consistency of the national plans, including new reforms, with existing achievements and challenges identified in the relevant CSR1a; _________________ 1a (2021/2738(RSP), paragraph 29.
Amendment 195 #
Motion for a resolution Paragraph 13 13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key structural challenges
Amendment 196 #
Motion for a resolution Paragraph 13 13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key structural challenges and investment needs, while embracing the green and digital transitions; stresses that restoring the growth potential will be a key element for the structural transformations needed to adapt to the challenges;
Amendment 197 #
Motion for a resolution Paragraph 13 13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key structural challenges and investment needs, while embracing the green and digital transitions; Calls on Member States to make the most of this opportunity and to use it to transform their economies and make them more competitive;
Amendment 198 #
Motion for a resolution Paragraph 13 13. Highlights that the RRF is an unprecedented and unique opportunity for all Member States to address key structural challenges and investment needs, while embracing the green and digital transitions;
Amendment 199 #
Motion for a resolution Paragraph 13 13. Highlights that the RRF is an unprecedented opportunity for all Member States to address key
Amendment 2 #
Motion for a resolution Citation 2 a (new) – having regard to the Commission Communication of 27 May 2020 entitled ‘Europe’s moment: Repair and Prepare for the Next Generation’ (COM(2020)456),
Amendment 20 #
Motion for a resolution Recital A A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States which, primarily, serves to ensure sound public finances, to prevent excessive macroeconomic imbalances, to support structural reforms and to boost investment;
Amendment 200 #
Motion for a resolution Paragraph 13 a (new) 13a. Highlights that the COVID-19 pandemic has demonstrated the critical importance of the care sector to the European economy and society; stresses, at the same time, that the care sector is in vital need of investment, particularly in the context of the delivery of care infrastructure and care services; urges the Commission and Member States to significantly increase the investment of EU funds in the care sector, notably through the Recovery and Resilience Facility, the EU4Health Programme, the European Structural and Investment Funds (ESIF) and InvestEU;
Amendment 201 #
Motion for a resolution Paragraph 13 a (new) 13a. Stresses that the recovery efforts must go hand in hand with a lasting increase of public and private investment beyond the RRF in order to be able to address current and future challenges and to achieve the EU policy objectives; recalls the investment gap estimated by the Commission in 2020 for the EU of more than 600 billion annually; Is concerned about the assessment of the European Fiscal Board on the low level of investment pre-crisis and the consequently limited recovery of investment in some countries;
Amendment 202 #
Motion for a resolution Paragraph 13 a (new) 13a. Stresses that the lack of investment is not only a question of liquidity, but also of investors´ trust in institutions, including central banks and monetary policy; believes that the very accommodative interest policies, although they might provide favorable lending conditions to banks, discourage investments by keeping yields low, and encourages people to flee in non- productive fixed assets and financial instruments, which only benefit the very wealthy;
Amendment 203 #
Motion for a resolution Paragraph 13 a (new) 13a. Points towards the Commission’s Communication on a Strong Social Europe for Just Transitions whereby it is claimed that the European Pillar of Social Rights is the European answer to the fundamental transitions of climate neutrality, digitalisation and demographic change; in this context affirms the essentiality of the European Pillar of Social Rights as an important parameter of the European Semester’s analysis;
Amendment 204 #
Motion for a resolution Paragraph 13 a (new) 13a. Urges the Commission to ensure Member States’ Recovery Plans investments and reforms in flagship areas, such as clean technologies and renewables, energy efficiency of buildings are fully in line with the EU’s increased 2030 climate target and the objective of achieving climate neutrality by 2050 at the latest;
Amendment 205 #
Motion for a resolution Paragraph 13 a (new) 13a. Recognises that public investments are limited as they represent scarce resources mostly funded by the taxpayers; underlines the need to prioritise the public investments according to their efficiency in order to support economic growth;
Amendment 206 #
13b. Underlines the need of compliance of national recovery and resilience plans (RRPs) with the requirements of the underlying Regulation, especially with regard to the ‘do no significant harm’ principle; calls, in this respect, on the Commission to apply additional scrutiny on any extension of the green tagging methodology and prevent that fossil fuel and nuclear related investments are classified as climate relevant; further stresses that all investment projects need to comply with existing environmental laws and regulations and the implementation of the RRF cannot lead to any lowering of environmental standards;
Amendment 207 #
Motion for a resolution Paragraph 13 b (new) 13b. Stresses that principle of value for money should represent the cornerstone of all EU funded investments; points out that EU funding should be accompanied by measurable objectives and outputs including a quantifiable and comparable evaluation mechanism that will allow to compare and rank the efficiency of individual EU programmes; underlines the importance of accountability and transparency for bodies that receive EU funding;
Amendment 208 #
Motion for a resolution Paragraph 13 c (new) 13c. Emphasises that attracting private investment requires a regulatory environment that allows for a return on investment; considers that predictable rules, a level playing field and reduced compliance costs are crucial factors for attracting investment;
Amendment 209 #
Motion for a resolution Paragraph 14 14. Calls for a focus on fiscal structural reforms, including reforms enhancing efficient spending, and acknowledges that high-quality public finance resource management is crucial; Asks the Commission to thoroughly assess the arrangements proposed by the Member States to prevent, detect and correct corruption, fraud and conflicts of interest when using the funds provided under the RRF and to give a particular attention in this context that the national plans include all necessary reforms, together with relevant milestones and targets, in particular related to the relevant CSRs, where appropriate; urges the Commission to monitor very carefully the risks to EU financial interests in the implementation of the RRF of any breach or potential breach of the principles of the rule of law, with a detailed and in particular attention to public procurement; expects the Commission not to proceed with any payments under the RRF if milestones linked to measures to prevent, detect and correct corruption, fraud and conflicts of interest when using the funds provided under the RFF are not met5a; _________________ 5a (2021/2738(RSP), paragraph 42.
Amendment 21 #
Motion for a resolution Recital A A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States thereby safeguarding the macroeconomic stability of the Economic and Monetary Union;
Amendment 210 #
Motion for a resolution Paragraph 14 14. Calls for
Amendment 211 #
Motion for a resolution Paragraph 14 14. Calls for a focus on fiscal structural
Amendment 212 #
Motion for a resolution Paragraph 14 14. Calls for a focus on fiscal, growth- enhancing [growth-maximizing] structural reforms, including reforms enhancing efficient spending, and acknowledges that high-quality public finance resource management is crucial; underlines the need to define result-oriented performance indicators measuring efficiency of promoted public policies;
Amendment 213 #
Motion for a resolution Paragraph 14 14. Calls for a focus on fiscal structural reforms, including reforms enhancing efficient spending, as well as reforms strengthening competitiveness and acknowledges that high-quality public finance resource management is crucial;
Amendment 214 #
Motion for a resolution Paragraph 14 14. Calls for
Amendment 215 #
Motion for a resolution Paragraph 14 14. Calls for a focus on fiscal structural reforms, including reforms enhancing efficient spending, and acknowledges that high-quality, efficient and digital public finance resource management is crucial;
Amendment 216 #
Motion for a resolution Paragraph 14 a (new) 14a. Highlights that national fiscal policies, together with Union policies, will play a crucial role in delivering the climate transition, thus fulfilling the EU's commitments and responsibilities in addressing climate change; underlines that social sustainability must be safeguarded during both the climate and digital transitions through public policies that create jobs, provide reskilling opportunities and establish adequate social protection; stresses, therefore, the importance of enabling climate and social investments, notably by creating a golden rule based on the exclusion of some clearly delineated expenditure from the fiscal rules;
Amendment 217 #
Motion for a resolution Paragraph 14 a (new) 14a. Underlines that public revenues are essential to ensure the sustainability of Member States public finances; considers it therefore necessary to subject the level of taxes and duties in the Member States to greater European coordination to avoid tax competition and to ensure that necessary government spending, whether for consumption or investment, is financed by regular revenues, except if these sources of revenue are insufficient due to a crisis or if additional growth-generating expenditure is to be financed;
Amendment 218 #
Motion for a resolution Paragraph 14 a (new) 14a. Highlights that youth unemployment in the EU averages 17.2 %, up to 30 % in Greece, over 34 % in Italy and 38.2 % in Spain; calls on the Commission to prioritize a holistic plan to tackle youth unemployment, including through measures to foster labour mobility within the EU for young EU citizens; calls on the Commission to put a moratorium on immigration from lower and unskilled non-EU nationals until at least EU average youth unemployment drops below 5 %;
Amendment 219 #
Motion for a resolution Paragraph 14 a (new) Amendment 22 #
Motion for a resolution Recital A A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States, which is a process designed primarily to safeguard budgetary sustainability;
Amendment 220 #
Motion for a resolution Paragraph 14 a (new) 14a. Calls for swift progress towards the completion of the Banking Union and Capital Markets Union in order to address gaps in the development of the single market and to promote financial stability in the financial sector;
Amendment 221 #
Motion for a resolution Paragraph 14 b (new) 14b. Recalls in this context, that taxation is one of the key policies monitored through the European Semester towards fairer and more growth- friendly tax systems; calls on the Council and its Member States to implement the recommendations in terms of addressing national measures to fight aggressive tax planning, tax evasion and tax avoidance or ineffective anti-money laundering measures;
Amendment 222 #
Motion for a resolution Paragraph 14 b (new) 14b. Recalls that most growth-friendly structural reforms do not require fiscal space but rather legislative and administrative efforts aimed at strengthening market forces and private sector initiatives;
Amendment 223 #
Motion for a resolution Paragraph 14 c (new) 14c. Invites the Commission to revamp the comprehensive economic policy response to the COVID-19 pandemic and to take the principles of NGEU as a basis for a modernisation of the common European fiscal architecture; invites the Commission therefore to consider the possibility of a permanent investment fund for the euro area and the non-euro area aligned to European priorities and with the aim to finance future-oriented investments, create European added value, to effectively tackle economic shocks and manage the economic cycle;
Amendment 224 #
Motion for a resolution Paragraph 14 c (new) 14c. Reminds that high levels of taxation in Europe are a hindrance to investments and jobs;
Amendment 225 #
Motion for a resolution Paragraph 15 15.
Amendment 226 #
Motion for a resolution Paragraph 15 15. Welcomes the fact that the updated New European Industrial Strategy, the European Digital Strategy and all the other relevant strategies set out the framework for speeding up Europe’s recovery and transition towards a cleaner, more digital, and more resilient economic and industrial model, as well as for building a stronger and more resilient single market and insists that within such strategy, SMEs should continue to be accorded privileged attention;
Amendment 227 #
Motion for a resolution Paragraph 15 15. Welcomes the
Amendment 228 #
Motion for a resolution Paragraph 15 15. Welcomes the fact that the updated New European Industrial Strategy, the European Digital Strategy, the European Green Deal and all the other relevant strategies set out the framework for speeding up Europe’s recovery and transition towards a cleaner, more digital, and more resilient economic and industrial model, as well as for building a stronger and more resilient single market;
Amendment 229 #
Motion for a resolution Paragraph 15 15. Welcomes the fact that the updated New European Industrial Strategy, the SME Strategy, the European Digital Strategy and all the other relevant strategies set out the framework for speeding up Europe’s recovery and transition towards a cleaner, more digital, and more resilient economic and industrial model, as well as for building a stronger and more resilient single market;
Amendment 23 #
Motion for a resolution Recital A A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States and it was temporarily adapted to coordinate it with the Recovery and Resilience Facility;
Amendment 230 #
Motion for a resolution Paragraph 15 15. Welcomes the fact that the updated New European Industrial Strategy, the European Digital Strategy and all the other relevant strategies set out the framework for speeding up Europe’s recovery and transition towards a
Amendment 231 #
Motion for a resolution Paragraph 15 a (new) 15a. Worries that without a concerted effort to invest in the transition to a sustainable economy, European economies will suffer long-lasting damage, undermining any efforts to promote sustainable fiscal policies; strongly supports the incentivising of sustainable investments by sovereigns, including through the EU Green Bond Standard;
Amendment 232 #
15a. Recalls the positive practice of transparency in several Member States in the form of mandatory disclosure of contracts concluded by the public sector which supports the efficiency of public finances and promotes economic growth;
Amendment 233 #
Motion for a resolution Paragraph 16 16. Highlights that tackling structural challenges is crucial for a sustainable recovery and continued growth, and that implementing reforms to address structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges but also to accomplishing the twin transitions in a sustainable and fair manner;
Amendment 234 #
Motion for a resolution Paragraph 16 16. Highlights that tackling structural challenges is crucial for a long-lasting sustainable recovery and continued growth, and that implementing reforms to address structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges but also to accomplishing the twin transitions in a sustainable
Amendment 235 #
16. Highlights that tackling structural challenges is crucial for a sustainable recovery and continued growth, and that implementing reforms
Amendment 236 #
Motion for a resolution Paragraph 16 16. Highlights that tackling structural challenges is crucial for a sustainable recovery and continued growth, and that implementing reforms to address structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges but also to accomplishing the twin transitions in a sustainable and fair manner
Amendment 237 #
Motion for a resolution Paragraph 16 16. Notes that many Member States are suffering from structural challenges hindering their growth potential; Highlights that tackling structural challenges is crucial for a sustainable recovery and continued growth, and that implementing reforms to address structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges but also to accomplishing the twin transitions in a sustainable and fair manner;
Amendment 238 #
Motion for a resolution Paragraph 16 16. Highlights that tackling structural challenges is crucial for a sustainable recovery
Amendment 239 #
Motion for a resolution Paragraph 16 a (new) 16a. Is convinced that building a resilient economy calls for reinforcing the social dimension of European governance, aiming at providing adequate protection to all people as well as to promote efficient social and healthcare systems for everyone;
Amendment 24 #
Motion for a resolution Recital B B. whereas according to the Commission’s Summer forecast
Amendment 240 #
Motion for a resolution Paragraph 17 Amendment 241 #
Motion for a resolution Paragraph 17 17. Is concerned that the Commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 Member States; is particularly worried that the nature and source of Member States’ imbalances remain largely the same as prior to the pandemic and that the pandemic could also be exacerbating economic divergences; notes the vulnerabilities in the financial sector as a result of the pandemic and calls on the Commission to pay close attention to national actions in relation to macro-financial stability, notably the risks of financial spillovers in the euro area; calls on the Member States to take advantage of the unprecedented opportunity provided by the RRF to significantly reduce existing macroeconomic imbalances;
Amendment 242 #
Motion for a resolution Paragraph 17 17. Is concerned that the Commission identified macroeconomic vulnerabilities related to imbalances and excessive
Amendment 243 #
Motion for a resolution Paragraph 17 17. Is concerned that the Commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 Member States; is particularly worried that the nature and source of Member States’ imbalances remain largely the same as prior to the pandemic; calls on the Member States to take advantage of the un
Amendment 244 #
Motion for a resolution Paragraph 17 a (new) 17a. Regrets the lack of specific responses from Member States to many of the recommendations received, which shows a serious disregard for the instrument of country-specific recommendations; takes the view, in this regard, that the economic governance framework has significant but complex flexibility mechanisms and that, therefore, it is important to simplify procedures and focus the European Semester on the essentials, relating to budgetary policy;
Amendment 245 #
Motion for a resolution Paragraph 17 a (new) 17a. Calls for the MIP recommendations to become more forward-looking and symmetrical with regard to over- and undershooting target values; stresses, in particular, that the current account thresholds should be adjusted so as to apply a symmetric approach between account surpluses and deficits;
Amendment 246 #
Motion for a resolution Paragraph 17 a (new) 17a. Is concerned that the excessive imbalance relating to the current account surplus in the balance of payments has never been properly managed by the European Commission in its assessments of macroeconomic imbalances;
Amendment 247 #
Motion for a resolution Paragraph 17 b (new) 17b. Calls on Member States to adopt ambitious strategies for a progressive and swift reduction of budget deficits, safeguarding the investment policies required to respond to the current economic framework; expresses concern about the situation of Member States that achieve deficit levels by virtue of extraordinary measures (that have no impact on the following budgetary year) or policies of non-implementation of national budgets (budget blocking), which usually mean significant cuts to essential public services; advocates a structured, open and transparent dialogue between the Commission and Member States with high budget deficits to establish structural reduction pathways, with full safeguarding of sufficient funding to ensure the quality and accessibility of public services;
Amendment 248 #
Motion for a resolution Paragraph 17 b (new) 17b. Takes note of the Commission’s latest technical revision of the MIP indicators; supports, however, that the MIP scoreboard would benefit from further modification towards a broader and more balanced scope; suggests, in particular, its streamlining around meaningful indicators, geared towards intra-euro area imbalances rather than performance vis-à-vis the rest of the world; further calls for the introduction of indicators on households’ disposable income, poverty, capital unit costs, as well as indicators to measure progress towards investment in environmental sustainability and innovation, with respective alert thresholds signalling the build-up of imbalances; considers in particular, that inefficiencies in energy and resource usage should be targeted since they may deteriorate significantly the current account balance and competitiveness;
Amendment 249 #
Motion for a resolution Paragraph 17 b (new) 17b. Is further concerned about the rise in the level of private debt, which already exceeded 200% of GDP in several countries in the euro area in 2019; therefore calls for private debt to be regarded as an indicator alongside public debt when assessing a Member State’s overall debt position;
Amendment 25 #
Motion for a resolution Recital B B. whereas according to the Commission’s
Amendment 250 #
Motion for a resolution Subheading 3 European Semester and Country-specific recommendations (CSRs)
Amendment 251 #
Motion for a resolution Paragraph 18 Amendment 252 #
Motion for a resolution Paragraph 18 Amendment 253 #
Motion for a resolution Paragraph 18 18.
Amendment 254 #
Motion for a resolution Paragraph 18 18.
Amendment 255 #
Motion for a resolution Paragraph 18 18.
Amendment 256 #
Motion for a resolution Paragraph 19 Amendment 257 #
Motion for a resolution Paragraph 19 19. Re
Amendment 258 #
Motion for a resolution Paragraph 19 19. Recalls that Member States, in their recovery and resilience plans, are required to effectively address all or a significant subset of challenges identified in the relevant CSRs, including the fiscal aspects thereof
Amendment 259 #
Motion for a resolution Paragraph 19 19. Recalls that Member States, in their recovery and resilience plans, are required to effectively address all or a significant subset of challenges identified in the relevant CSRs, including the fiscal aspects thereof
Amendment 26 #
Motion for a resolution Recital B a (new) Ba. whereas the EU’s low productivity and global competitiveness require urgent structural reforms and return to fiscal discipline in order to create conditions for stronger growth;
Amendment 260 #
Motion for a resolution Paragraph 19 19. Recalls that Member States, in their recovery and resilience plans, are required to effectively address all or a significant subset of challenges identified in the relevant CSRs, including the fiscal aspects thereof, and that beyond the scope of the RRF, those recommendations that are not addressed remain valid and will continue to
Amendment 261 #
Motion for a resolution Paragraph 19 19. Recalls that Member States, in their recovery and resilience plans, are required to effectively address a
Amendment 262 #
Motion for a resolution Paragraph 19 a (new) 19a. Is seriously concerned that from the introduction of the European Semester in 2011, the specific policy measures demanded in the country- specific recommendations focus on limiting wage growth, increasing the threshold age for receiving a pension, privatising state-owned enterprises, cutting public spending on health care provision, promoting longer working hours, reducing job security, and cutting funds to social services - all of which have contributed to weakening states', institutions' and individuals' capacity to respond to the outbreak of the pandemic;
Amendment 263 #
Motion for a resolution Paragraph 19 a (new) 19a. Recognises the role that the Commission has allotted to the European Semester in the Recovery Plan and its importance for policy coordination at EU level; stresses, however, that the effectiveness and success of the alignment of Member States’ investment and reform programmes will depend on the review of the Semester and, according to the outcome, its adaptation as well as the increased ownership by the Member States of the implementation of the CSRs;
Amendment 264 #
Motion for a resolution Paragraph 19 a (new) 19a. Acknowledges that climate change risks within and across countries are macro-critical threats to financial and fiscal systems and considers that macro- critical aspects of climate change need to be incorporated into EU enhanced surveillance; calls on the Commission, in this regards, to monitor in particular cross-border spillovers risks;
Amendment 265 #
Motion for a resolution Paragraph 19 a (new) 19a. Notes that the Semester, since its inception, has been expanded to a more comprehensive framework to include, among others, issues related to the financial sector and taxation, as well as objectives of the Paris agreement, the European Green Deal and the UN SDGs;
Amendment 266 #
Motion for a resolution Paragraph 19 b (new) 19b. Considers that the adaptation of the European Semester to coordinate the Recovery and Resilience Facility gives the former more credibility and ownership; further considers that National Recovery and Resilience plans should effectively address challenges identified in the European Semester; stresses that the framework of the RRF in terms of its structure, function and governance addresses many of the previous shortcomings indicated by Members States; considers that the disbursement of RRF funding and their approval process, with a more active role of the European Parliament, will create a more dynamic political process based on incentives- approach in contrast with the current system;
Amendment 267 #
Motion for a resolution Paragraph 19 b (new) 19b. Calls on the Commission to develop a climate indicator to assess the discrepancy between the structure of Member States’ budgets and the Paris- aligned scenario for each of their national budgets; stresses the need for this indicator to provide Member States with information on their trajectory within the framework of the Paris Agreement in order to ensure the achievement of climate-neutrality targets by 2050; expects the climate indicator to be used as a guide for the European Semester and reflected in the CSR;
Amendment 268 #
Motion for a resolution Paragraph 19 b (new) 19b. Highlights that the RFF exercise is also an unprecedented opportunity for the Commission and the Member States to learn from and improve the mechanisms driving the economic governance framework especially when it comes to the underlying political guidelines, cooperation between the institutions and increased ownership of the Member States developing the national reform programmes and implementing structural reforms;
Amendment 269 #
Motion for a resolution Paragraph 19 c (new) 19c. Believes that the renewed and simplified EU Semester could profit from the lessons learned from the RRF process in regards to establish a more transparent and democratic coordination process when it comes to defining the guiding principles/policy objectives of the European Semester and the CSRs with full involvement of the European Parliament and the Member States as well as in regards to the reciprocal process between Commission and the Member States in developing the needed reforms and investment to achieve those policy objectives; therefore, calls on the Commission to closely assess the RRF exercise and draw conclusions for the review and adaptation of the European Semester cycle and the CSRs;
Amendment 27 #
Motion for a resolution Recital B a (new) Ba. whereas growth is not an objective in itself as meeting the goals of the Green Deal and Paris agreement requires targeted fiscal efforts;
Amendment 270 #
Motion for a resolution Paragraph 19 c (new) 19c. Calls on the Commission to align the 2022 European Semester cycle with the monitoring and implementation of the Recovery and Resiliency Facility; notes that according to the RRF Regulation, Member States should report twice a year in the context of the European Semester on the progress made in the achievement of the recovery and resilience plan and the Commission shall provide an annual report to the European Parliament and the Council on the implementation of the Facility; calls on, in this regard, to assess how the current European Semester tools such as the Country-Reports and In-depth Reviews could be adapted in order to ensure a true value added in the Semester process;
Amendment 271 #
Motion for a resolution Paragraph 19 c (new) 19c. Calls on the Commission to establish an inventory of all environmentally harmful subsidies, including in the form of tax rebates, that continue to exist at national level and hamper the achievement of the European Green Deal, and to monitor their phase out as soon as possible in the context of the Semester and the CSR; reiterates its call for the reorientation of taxation systems towards an increased use of environmental taxation;
Amendment 272 #
Motion for a resolution Paragraph 19 d (new) 19d. Reiterates the urgency of increasing and diversifying the EU Own Resources according to the roadmap annexed to the Inter-institutionnal Agreement of 16 December 2020; stresses that the own resources shall be aligned with the Union priorities, especially the fight against climate change, the circular economy, Europe fit for the Digital Age and shall contribute to ensuring fair taxation and to the strengthening of the fight against tax fraud and tax evasion; recalls that the basket of new Own Resources listed in the IIA is non- exhaustive and that the Commission shall take due account of suggestions made by the European Parliament or the Council;
Amendment 273 #
Motion for a resolution Paragraph 19 d (new) 19d. Reiterates the European Parliament’s call for strengthening its democratic role in the economic governance framework; calls therefore for an Interinstitutional Agreement on Sustainable European Economic Governance granting Parliament a right of consent on the policy recommendations presented in the Annual Sustainable Growth Survey, the Euro area fiscal stance and on the package of Country- specific Recommendations;
Amendment 274 #
Motion for a resolution Paragraph 19 d (new) 19d. Recalls Member States on the possibility to request technical support under the Technical Support Instrument;
Amendment 275 #
Motion for a resolution Paragraph 19 e (new) 19e. Calls on the Commission and the Member States to enhance the social dialogue;
Amendment 276 #
Motion for a resolution Paragraph 19 f (new) 19f. Is concerned about the heavy administrative burden resulting from the twin processes of the RRF and the European Semester and asks the Commission to review the interlinkage and come forward with a streamlined approach; invites the Commission, moreover, to reassess if annually published CSRs fulfil the purpose to properly evaluate the need for and monitor structural reforms that are mostly implemented over a longer period of time;
Amendment 277 #
Motion for a resolution Paragraph 19 g (new) 19g. Stresses the importance of the Macroeconomic Imbalance Procedure (MIP) in detecting, preventing and addressing macroeconomic imbalances in the EU, however, agrees to the findings of the European Court of Auditors* that its potential has not been fully exploited in such a way as to ensure the effective prevention and correction of imbalances; therefore, agrees that the surveillance under the Macroeconomic Imbalances Procedure in the new EU Semester cycle will need to be adapted and simplified taking into consideration the outcome of the review of the economic framework; *Special Report No 03/2018: Audit of the Macroeconomic Imbalance Procedure (MIP), European Court of Auditors.
Amendment 278 #
Motion for a resolution Paragraph 20 Amendment 279 #
Motion for a resolution Paragraph 20 Amendment 28 #
Motion for a resolution Recital B b (new) Bb. whereas environmental and social sustainability are interconnected with risks on long term fiscal sustainability and there is growing importance of monitoring sustainability related fiscal risks;
Amendment 280 #
Motion for a resolution Paragraph 20 Amendment 281 #
Motion for a resolution Paragraph 20 Amendment 282 #
Motion for a resolution Paragraph 20 Amendment 283 #
Motion for a resolution Paragraph 20 20.
Amendment 284 #
Motion for a resolution Paragraph 20 20.
Amendment 285 #
Motion for a resolution Paragraph 20 a (new) 20a. Welcomes the DG ECFIN’s initiatives and ongoing reflection on the idea of an alternative set of indicators to measure economic, social and environmental progress, supplementing GDP as a welfare measure for inclusive and sustainable growth; is convinced that the EU policy objectives have to be reflected as well in terms of new measurements and granular performance indicators for progress; highlights in this respect the advanced statistical standards and the development of concepts and methods on international level, such as the beyond GDP framework of the OECD and the United Nations; urges the Commission to follow these international standards and integrate this approach in the EU economic governance framework;
Amendment 286 #
Motion for a resolution Paragraph 20 a (new) 20a. Agrees with the European Court of Auditors’ criticisms of the country- specific recommendations and stresses the need for these recommendations to take account of the actual economic and budgetary reality of each Member State and to be sufficiently specific for serious democratic scrutiny and more efficient implementation; believes, in this regard, that the Parliament should be called upon to play a more active role in the debate on these recommendations;
Amendment 287 #
Motion for a resolution Paragraph 20 a (new) 20a. Welcomes the Council’s recommendation to increase the level of public investment and to ensure the effective involvement of social partners in policymaking, and strengthen social dialogue and collective bargaining;
Amendment 288 #
Motion for a resolution Paragraph 20 a (new) 20a. Stresses in this regard that the RRF loans available raise national debt levels in some Member States, increasing the importance of fiscal discipline in the medium term;
Amendment 29 #
Motion for a resolution Recital C C. whereas according to the Commission
Amendment 290 #
Motion for a resolution Paragraph 20 b (new) 20b. Calls for the Social Scoreboard of the European Pillar of Social Rights (EPSR) to be fully taken into account for the purposes of monitoring Member States´ performance in relation to the EPSR´s principles; takes note of the Commission initiative in confirming that the revised Social Scoreboard will be part of the policy coordination framework in the context of the European Semester; takes notes that the EU leaders welcomed the European Social Partners joint proposal for an alternative set of indicators to measure economic, social and environmental progress, supplementing GDP as welfare measure for inclusive and sustainable growth; calls for better reflecting scoreboards in policy recommendations;
Amendment 291 #
Motion for a resolution Paragraph 20 b (new) 20b. Recalls the urgent need to complete and reinforce EMU´s architecture with a view to protecting citizens and reduce pressure on public finances during external shocks so as to overcome social and economic imbalances, by completing the Banking Union and the Capital Markets Union and advancing towards a credible fiscal capacity and a European Unemployment Reinsurance Scheme;
Amendment 292 #
Motion for a resolution Paragraph 20 b (new) 20b. Reaffirms the need for country- specific recommendations to have an impact on structural reforms in Member States and reiterates the need, in this context, to have a short-, medium- and long-term outlook for each of the recommendations;
Amendment 293 #
Motion for a resolution Paragraph 20 b (new) 20b. Welcomes the Council’s recommendation to address the tax challenges arising from the digitalisation of the economy and make further progress to combat aggressive tax planning and support a shift towards carbon pricing and environmental taxation;
Amendment 294 #
Motion for a resolution Paragraph 20 b (new) 20b. Recalls that the EU's debts need to be proportionately included in the assessment of the fiscal sustainability of the individual Member States;
Amendment 295 #
Motion for a resolution Paragraph 20 c (new) 20c. Calls on the European Commission to extend, without weakening the current EU economic governance process, the European Semester by complementing the current approach, based on fiscal and budgetary discipline, with climate and environmental discipline; calls therefore on the European Commission to develop a new climate indicator, mirroring the economic indicators, to assess the discrepancy between the structure of Member States’ budget and a Paris-aligned scenario for each of their national budgets; stresses the need for this indicator to provide Member States with an indication on their trajectory of temperature under the framework of the Paris Agreement, thus enabling the extended European Semester to provide recommendations about the decrease of their climate debt;
Amendment 3 #
Motion for a resolution Citation 2 b (new) – having regard to the Commission Staff Working Document of 27 May 2020 entitled ‘Identifying Europe’s recovery needs’ (COM(2020)456),
Amendment 30 #
Motion for a resolution Recital C C. whereas according to the Commission
Amendment 31 #
Motion for a resolution Recital C a (new) Ca. whereas, nevertheless, the Commission’s summer economic forecast shows a significant difference in the pace of recovery of the different Member States, with a disparity ranging from 2.7% to 7.4%; whereas these differences justify a country-specific approach, not only in recovery and resilience plans and in the implementation of the multiannual financial framework, but also in the application of budgetary rules;
Amendment 32 #
Motion for a resolution Recital C a (new) Ca. whereas post-pandemic economic recovery requires the fast implementation of the EU recovery plan, which must focus on (i) the just green transition, (ii) the digital transformation, (iii) economic cohesion, productivity and competitiveness, (iv) social and territorial cohesion, (v) institutional resilience and (vi) policies for the next generation;
Amendment 33 #
Motion for a resolution Recital C b (new) Cb. whereas the premature withdrawal of fiscal stimulus and the lack of coordination of fiscal action can exacerbate already existing divergences in the Eurozone and thus undermine its cohesiveness and integrity;
Amendment 34 #
Motion for a resolution Recital D Amendment 35 #
Motion for a resolution Recital D D. whereas
Amendment 36 #
Motion for a resolution Recital D a (new) Da. whereas economic growth before the pandemic relied to large degree upon unconventional and, in the long term, unsustainable monetary policy; whereas monetary policy has failed to create a momentum for productivity-enhancing reforms, a thus for sustainable growth;
Amendment 37 #
Motion for a resolution Recital E E. whereas
Amendment 38 #
Motion for a resolution Recital E a (new) Ea. whereas the latest Eurostat figures show that EU tourism went down by 61 % during the pandemic with the highest decreases recorded in Malta (-80%) and Spain (-78 %), followed by Greece (- 74 %), Portugal (-70 %) and Hungary (- 66 %);
Amendment 39 #
Motion for a resolution Recital E b (new) Eb. whereas the levels of poverty in Europe, particularly amongst pensioners and children, and those of unemployment especially in Southern euro countries, were already worrying before the commencement of the COVID-19 economic crisis;
Amendment 4 #
Motion for a resolution Citation 3 a (new) – having regard to its resolution of 6 June 2021 entitled ‘European Parliament’s Scrutiny on the ongoing assessment by the Commission and the Council of the national recovery and resilience plans’,
Amendment 40 #
Motion for a resolution Recital E c (new) Ec. whereas direct state intervention in the form of support to businesses and workers across the EU has been crucial to avoid the worst scenarios of an economic crisis;
Amendment 41 #
Motion for a resolution Recital F Amendment 42 #
Motion for a resolution Recital F F. whereas in 2020, Member States provided total fiscal support estimated at more than 6.5 % of GDP, and as a result, the euro area and EU aggregate government deficit increased from historically low levels of around 0.5 % of GDP in 2019 to around 7 % in 2020, which will inevitably be reflected in the aggregate debt levels; whereas the increase in the deficit is mainly due to the adoption of new or extended emergency support measures in response to the need for new restrictions to economic activity in the first part of the year 2021;
Amendment 43 #
Motion for a resolution Recital F F. whereas in 2020, Member States provided total fiscal support estimated at more than 6.5 % of GDP, and as a result, the euro area and EU aggregate government deficit increased from
Amendment 44 #
Motion for a resolution Recital F a (new) Fa. whereas the magnitude of COVID- 19-related emergency measures is sizeable, at an estimated 4 % of GDP in both 2020 and 2021 in the EU as a whole, including emergency spending for firms, workers and on health-care; the underlying fiscal stance for the EU is expected to be slightly expansionary in 2022, also thanks to the fiscal support from the expected acceleration in spending financed by RRF grants;
Amendment 45 #
Fa. whereas in order to achieve stronger growth after pandemic the Member States need to carry out structural reforms in order to improve their competitiveness and attract growth- friendly investment;
Amendment 46 #
Motion for a resolution Recital G G. whereas the ratio of public debt to GDP in the EU is forecast at 94 % this year, while the euro area debt-to-GDP ratio is forecast to follow the same trend, rising to 102 % this year; whereas 7 Member States are expected to have debt-to-GDP ratios well in excess of 100 % in this year, with one Member States even going well over 200 %;
Amendment 47 #
Motion for a resolution Recital G G. whereas the ratio of public debt to GDP in the EU is forecast at 94 % this year, while the euro area debt-to-GDP ratio is forecast to follow the same trend, rising
Amendment 48 #
Motion for a resolution Recital G G. whereas the ratio of public debt to GDP in the EU is forecast at 94 % this year, while the euro area debt-to-GDP ratio is forecast to follow the same trend, rising to an alarming 102 % this year;
Amendment 49 #
Motion for a resolution Recital G a (new) Ga. whereas, furthermore, public debt values (absolute) and ratio to GDP values differ significantly from one country to another; whereas this reality pre-dated the pandemic and the consequences of the pandemic aggravated it; and whereas reduction pathways should be tailored to the specific reality of each country;
Amendment 5 #
Motion for a resolution Citation 7 – having regard to the Commission’s S
Amendment 50 #
Motion for a resolution Recital G a (new) Ga. whereas unprecedented levels of public debt represent a drag on the recovery, greater risk of a fiscal crisis, lower national savings and income and may lead to large tax hikes;
Amendment 51 #
Motion for a resolution Recital G a (new) Ga. whereas the ratio of debt to GDP was at 98 % in 2020 and 83.9 % in 2019;
Amendment 52 #
Motion for a resolution Recital H H. whereas the reference values of up to 3 % of planned or actual government deficit and 60 % of debt to GDP, a
Amendment 53 #
Motion for a resolution Recital H H. whereas reference values of up to 3 % of planned or actual government deficit and 60 % of debt to GDP are defined by the TFEU; whereas these reference values were established in the early 1990s under fundamentally different economic circumstances and they are not based on a scientific analysis of the debt sustainability of public budgets;
Amendment 54 #
Motion for a resolution Recital H H. whereas reference values of up to 3 % of planned or actual government deficit and 60 % of debt to GDP are defined by the TFEU; whereas Member States cannot be expected to enjoy the benefits of a stable, essentially northern currency, while at the same time applying southern budgetary and fiscal policies; whereas this has thus far led to a latinisation of the euro, rather than sound and responsible budgetary and fiscal policies across the Member States;
Amendment 55 #
Motion for a resolution Recital H H. whereas reference values of up to 3 % of planned or actual government deficit and 60 % of debt to GDP are defined by the T
Amendment 56 #
Motion for a resolution Recital H a (new) Ha. whereas when those rules were adopted in the 1990s, the prevailing economic conditions in the EU were significantly different to those that prevail today : in 1997 interest rates were approximately 5 per cent for long-term government borrowing, the average public debt-to-GDP ratio in the EU was between 65 and 70 per cent of GDP, the median public debt among the 11 initial eurozone members was around 60 per cent of GDP, the forecast GDP growth rate was 3 per cent annually, and inflation was forecast at 2 per cent;
Amendment 57 #
Motion for a resolution Recital H a (new) Ha. whereas both public and private sector investment were already clearly insufficient before the crisis, despite historically low interest rates; whereas to address the extensive public investment backlog in, inter alia, transport, education and science infrastructure and to vigorously tackle the challenges of digital transformation, green and just transition, additional annual public investment in the three digit billion range is needed which cannot be provided for under current fiscal policy;
Amendment 58 #
Motion for a resolution Recital H a (new) Ha. Whereas the corporate income tax rate in the European Union has been reduced by more than half since 1980s, from 50 % in 1985 to 21 % now1a; _________________ 1a https://www.taxobservatory.eu
Amendment 59 #
Motion for a resolution Recital H a (new) Ha. whereas the European Semester has been adapted this year, given the links to Member States' recovery and resilience plans;
Amendment 6 #
Motion for a resolution Citation 7 – having regard to the Commission’s S
Amendment 60 #
Motion for a resolution Recital H b (new) Hb. whereas the EU is estimated to lose between €160 and €190 billion each year due to corporate tax avoidance2a; _________________ 2a https://www.europarl.europa.eu/RegData/ etudes/STUD/2016/558776/EPRS_STU(2 016)558776_EN.pdf
Amendment 61 #
Motion for a resolution Recital H c (new) Hc. whereas a minimum effective tax rate of 21 % could help EU governments get an additional revenue of some €100 billion per year; whereas this would decrease to some €50 billion for a minimum rate of 15 %3a; _________________ 3a https://www.taxobservatory.eu/wp- content/uploads/2021/07/TaxObservatory _Report_Tax_Deficit_July2021_Revised.p df
Amendment 62 #
Motion for a resolution Recital H d (new) Hd. whereas the ECB predicted that a lack of action on climate change could reduce Europe’s GDP in the long-term by some 20pp; whereas such a reduction in growth rates would imply huge human cost and be detrimental to the long-term sustainability of public finances in the Euro zone4a; _________________ 4a https://www.ecb.europa.eu/pub/pdf/other/ ecb.climateriskfinancialstability202107~8 7822fae81.en.pdf
Amendment 63 #
Motion for a resolution Recital I I. whereas aspects relating to the possible future of the EU economic governance framework were dealt with by the review of the macroeconomic legislative framework in the report of the Committee on Economic and Monetary Affairs of 22 June 2021 dedicated to that issue; regrets the lack of ambition in this report to call for changes to the Treaties and fundamentally transform the EU's economic governance in a progressive spirit;
Amendment 64 #
Motion for a resolution Recital I I. whereas aspects relating to the possible future of the EU economic governance framework were dealt with by the review of the macroeconomic legislative framework in the report of the
Amendment 65 #
Motion for a resolution Recital I a (new) Ia. whereas the recovery and resilience plans adopted by the Member States will encompass their national agenda of reforms and investments designed in line with the EU policy objectives, centred on policy areas: green transition; digital transformation; smart, sustainable and inclusive growth; social and territorial cohesion; health, economic, social and institutional resilience; policies for the next generation, children and youth;
Amendment 66 #
Motion for a resolution Recital I a (new) Ia. whereas principles of subsidiarity and proportionality must be respected in line with the Treaties, especially in implementing appropriate social policy and tax policy;
Amendment 67 #
Motion for a resolution Recital I b (new) Ib. whereas the crisis resulted in increasing social, territorial, and economic and gender based inequalities;
Amendment 68 #
Motion for a resolution Recital I c (new) Ic. whereas the Union and its Member States have committed to the Treaty-based fundamental values, the implementation of the UN 2030 Agenda, the European Pillar of Social Rights (EPSR) and the Paris Climate Agreement;
Amendment 69 #
Motion for a resolution Recital I d (new) Id. whereas during the Porto Social Summit held on 7 and 8 May 2021, the EU’s leaders recognised the European Pillar of Social Rights as a fundamental element of the recovery and whereas in the Porto declaration they underlined their determination to continue deepening its implementation at EU and national level;
Amendment 7 #
Motion for a resolution Citation 7 a (new) – having regard to the Commission Communication of 4 March 2021 entitled ‘The European Pillar of Social Rights Action Plan’ (COM(2021)102),
Amendment 70 #
1. Notes that the European economy is recovering from the devastating impact of the global pandemic
Amendment 71 #
Motion for a resolution Paragraph 1 1. Notes that the European economy is
Amendment 72 #
Motion for a resolution Paragraph 1 1. Notes that
Amendment 73 #
Motion for a resolution Paragraph 1 1. Notes that the European economy is recovering from the devastating impact of the global pandemic; remains concerned
Amendment 74 #
Motion for a resolution Paragraph 1 1. Notes that the European economy is recovering faster than expected from the devastating impact of the global pandemic; remains concerned about low growth potential compared to other regions in the post-pandemic recovery;
Amendment 75 #
Motion for a resolution Paragraph 1 1. Notes that the European economy is slowly recovering from the devastating impact of the global pandemic; remains concerned about low growth potential compared to other regions in the post- pandemic recovery;
Amendment 76 #
Motion for a resolution Paragraph 1 a (new) 1a. Is concerned about the negative impact of the COVID-19 crisis on the European economy, trade, consumer trust, income inequalities and poverty, as well as the risk of regulatory overreach, a more permissive approach to sovereign debt issues and debt-financing of national budgets, and the rise of mass surveillance;
Amendment 77 #
Motion for a resolution Paragraph 1 a (new) 1a. Believes that the apparent "symmetrical" effects of COVID-19 have actually widened the socioeconomic rift between EU member states and their regions; therefore emphasizes that this is not the time for one-size-fits-all strategies as regards structural reforms and competition policies, state aid policies in particular;
Amendment 78 #
Motion for a resolution Paragraph 1 b (new) 1b. Recognises that the crisis triggered by the COVID-19 pandemic has been especially severe for enterprises, mostly SMEs, in tourism, hospitality and culture, not least those based in EU island regions;
Amendment 79 #
Motion for a resolution Paragraph 1 b (new) 1b. Calls for ambitious cuts in public debt and for an ambitious overhaul of the debt-financing culture across the EU, if the common currency is to survive the next decade;
Amendment 8 #
Motion for a resolution Citation 7 b (new) – having regard to the Porto Social Commitment of 7 May 2021 of the Council, the Commission, the Parliament and social partners,
Amendment 80 #
Motion for a resolution Paragraph 2 2. Acknowledges that despite the progress with vaccination campaigns, substantial risks to the
Amendment 81 #
Motion for a resolution Paragraph 2 2. Acknowledges that despite the progress with vaccination campaigns, substantial risks to the forecasts remain from an epidemiological and economic perspective, which in turn could delay the transition to a more sustainable, green, inclusive and future-
Amendment 82 #
Motion for a resolution Paragraph 2 2. Acknowledges that despite the progress with vaccination campaigns, substantial risks to the forecasts remain from an epidemiological and economic perspective, which in turn c
Amendment 83 #
Motion for a resolution Paragraph 2 a (new) 2a. Insists that the call by some for a quick return to the old economic regulations regime has no real-life logic to back it and is just based on dogma;
Amendment 84 #
Motion for a resolution Paragraph 3 3. Points out that the roll-out of the Recovery and Resilience Facility (RRF)
Amendment 85 #
Motion for a resolution Paragraph 3 3. Points out that the roll-out of the Recovery and Resilience Facility (RRF)
Amendment 86 #
Motion for a resolution Paragraph 3 3. Points out that the roll-out of the Recovery and Resilience Facility (RRF) will contribute to mitigating the effects of the COVID-19 crisis, fostering European solidarity, and advancing territorial cohesion; stresses that the successful implementation of the RRF will help to make EU economies and societies more sustainable, inclusive, resilient and better prepared for the green
Amendment 87 #
Motion for a resolution Paragraph 3 3. Points out that the roll-out of the Recovery and Resilience Facility (RRF) will help to make EU economies and societies more sustainable, inclusive, resilient and better prepared for the just, green and digital transitions, foster economic, social and territorial cohesion, bring convergence and help the Member States to mitigate the economic and social impact of the crisis; notes that the facility, which is the centrepiece of NextGenerationEU, will provide large- scale financial support to Member States of up to EUR 672.5 billion in grants and loans to finance reforms and investments;
Amendment 88 #
Motion for a resolution Paragraph 3 3. Points out that the roll-out of the temporary Recovery and Resilience Facility (RRF) will help to make EU economies and societies more sustainable, inclusive, resilient and better prepared for the green and digital transitions; notes that the facility, which is the centrepiece of NextGenerationEU, will provide large- scale financial support to Member States of up to EUR 672.5 billion in grants and loans to finance reforms and investments;
Amendment 89 #
Motion for a resolution Paragraph 3 a (new) 3a. Notes that the COVID-19 pandemic has clearly had a differential impact on women; welcomes the gender dimension of the Recovery and Resilience Facility which ensures that gender equality is used as an evaluation criteria for the National Recovery and Resilience Plans; urges the Commission to closely monitor the implementation of Member States' recovery plans to ensure that they meet targets and expected contributions on gender equality;
Amendment 9 #
Motion for a resolution Citation 17 a (new) – having regard to the Commission’s Action plan for a comprehensive Union policy on preventing money laundering and terrorism financing (C(2020)2800),
Amendment 90 #
Motion for a resolution Paragraph 3 a (new) 3a. Regrets that the RRF does not contain any common result indicators and EU level targets; recalls that according to European Court of Auditors, common result indicators would facilitate better monitoring, measurement, evaluation and audit of the implementation of the RRF at EU level, and guide Member States in using their resources more effectively1a; _________________ 1a https://www.eca.europa.eu/Lists/ECADoc uments/RW20_06/RW_Economic_respon se_to_Covid19_EN.pdf
Amendment 91 #
Motion for a resolution Paragraph 3 a (new) 3a. Welcomes the unprecedented and ambitious action of the roll-out of NGEU, believes that the syndicated European bond issuance represents crucial progress for the European Union’s ability to realise its responsibilities, as laid down in the Article 3 TEU and to respond to citizens’ expectations;
Amendment 92 #
Motion for a resolution Paragraph 3 a (new) 3a. Calls for an exclusion EU-issued debt from the ECB’s monetary financing prohibition using provisions of Article 125 TFEU and following similar specifications made in Council Regulation (EC) No 3603/93 of 13 December 1993;
Amendment 93 #
Motion for a resolution Paragraph 3 a (new) 3a. Recalls that the debt issued to finance the Recovery and Resilience Fund is to be repaid by 2058, in a manner that ensures the steady and predictable reduction of liabilities;
Amendment 94 #
Motion for a resolution Paragraph 3 a (new) 3a. Recalls that the NextGenerationEU programme is a one- off and should not serve as a precursor of a permanent, debt-funded programme;
Amendment 95 #
Motion for a resolution Paragraph 3 b (new) 3b. Is pleased that economic growth levels are rebounding even though the resources of the RRF have not yet been invested, demonstrating the resilience of the European economy;
Amendment 96 #
Motion for a resolution Paragraph 3 b (new) 3b. Calls for reflection about making this structure a long-term instrument;
Amendment 97 #
Motion for a resolution Paragraph 3 c (new) 3c. Recognizes the European solidarity underlying the establishment of the RRF; stresses in this regard the importance of Country Specific Recommendations linked to the approval of national recovery and resilience plans;
Amendment 98 #
Motion for a resolution Paragraph 4 4. Is pleased that, according to the Commission, economic activity in the EU is expected to pick up in all Member States, with acceleration as of the second half of 2021, as containment measures are gradually relaxed and vaccination progresses, reflecting the growth impulse stemming from the implementation of the national recovery and resilience plans; remains concerned, however, that the speed of the recovery will vary across Member States and regions and that the differences in the pace of the recovery remain substantial;
Amendment 99 #
Motion for a resolution Paragraph 4 4. Is pleased that, according to the Commission, economic activity in the EU is expected to pick up in all Member States, with further acceleration as of the second
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