En En Amendments
Total Page:16
File Type:pdf, Size:1020Kb
EUROPEAN PARLIAMENT 2009 - 2014 Committee on Economic and Monetary Affairs PE478.502v01-00 14.12.2011 AMENDMENTS 1 - 81 Draft motion for a resolution Sharon Bowles and Sylvie Goulard (PE478.501v01-00) the feasibility of introducing stability bonds AM\887046EN.doc PE478.502v01-00 EN United in diversity EN AM_Com_NonLegRE PE478.502v01-00 2/36 AM\887046EN.doc EN Amendment 1 Werner Langen, Elmar Brok Draft motion for a resolution Citation 2 a (new) Draft motion for a resolution Amendment - having regard to Commissioner Rehn's presentation of the Green Paper in front of the ECON committee on 23 November 2011, Or. en Amendment 2 Werner Langen, Elmar Brok Draft motion for a resolution Citation 2 b (new) Draft motion for a resolution Amendment - having regard to the presentation by the German 'Five Wise Men' concerning a collective redemption fund to bring down excessive debt, Or. en Amendment 3 Werner Langen, Elmar Brok Draft motion for a resolution Citation 2 c (new) Draft motion for a resolution Amendment - having regard to the publication of the President van Rompuy's Interim Report: Towards a Stronger Economic Union on 6 December 2011, Or. en Amendment 4 Derk Jan Eppink AM\887046EN.doc 3/36 PE478.502v01-00 EN Draft motion for a resolution Recital B Draft motion for a resolution Amendment B. whereas the euro zone is in a genuine B. whereas the euro zone is in a strained situation, the Member States sharing a situation, with eurozone Member States single currency without a common fiscal sharing a single currency without a policy and a single bond market, common fiscal policy and a single bond market, Or. en Amendment 5 Edward Scicluna Draft motion for a resolution Recital B Draft motion for a resolution Amendment B. whereas the euro zone is in a genuine B. whereas the euro zone is in a unique situation, the Member States sharing a situation, with the Member States sharing a single currency without a common fiscal single currency without a common fiscal policy and a single bond market, policy and a single bond market, Or. en Amendment 6 Werner Langen, Elmar Brok Draft motion for a resolution Recital B a (new) Draft motion for a resolution Amendment Ba. whereas the rating agency Standard and Poors (S&P) announced in Summer 2011 that eurobonds, if introduced, would be given the rating of the lowest Member state participating, Or. en PE478.502v01-00 4/36 AM\887046EN.doc EN Amendment 7 Wolf Klinz, Carl Haglund, Olle Schmidt Draft motion for a resolution Recital B a (new) Draft motion for a resolution Amendment Ba. whereas the risk exists to repeat the mistake from the set-up of the Economic and Monetary Union, namely lacking to deepen integration before pursuing measures that imply explicitly or implicitly joint or several liability, Or. en Amendment 8 Diogo Feio Draft motion for a resolution Paragraph -1 a (new) Draft motion for a resolution Amendment -1a. Welcomes the presentation of the Green Book, which fulfils a long standing requests of the European Parliament; Is open-minded and eager to actively discuss all issues relating to the topic; Or. en Amendment 9 Philippe Lamberts Draft motion for a resolution Paragraph -1 a (new) Draft motion for a resolution Amendment -1a. Is deeply alarmed at the persistence of renewed financial turmoil and the persistence of substantial macrofinancial imbalances within the euro area and more broadly within the EU; AM\887046EN.doc 5/36 PE478.502v01-00 EN Or. en Amendment 10 Philippe Lamberts Draft motion for a resolution Paragraph -1 b (new) Draft motion for a resolution Amendment -1b. Is deeply concerned by the continuous strains on the euro area sovereign bonds markets reflected on widening spreads, high volatility and vulnerability to speculative attacks over the last two years; deems that the flight to safety provoked by waves of panic experienced during the current financial crisis have had massive distorting effects and have created costly negative externalities, welcomes the efforts made by the ECB by means of its Securities Markets Programs to bring down spreads of vulnerable Member States; Or. en Amendment 11 Derk Jan Eppink Draft motion for a resolution Paragraph 1 Draft motion for a resolution Amendment 1. Believes that the euro area as the issuer 1. Believes that the eurozone as the issuer of the world's second international of the world's second international currency has a crucial responsibility for currency is co-responsible for the stability the stability of the international monetary of the international monetary system; system; Or. en PE478.502v01-00 6/36 AM\887046EN.doc EN Amendment 12 Derk Jan Eppink Draft motion for a resolution Paragraph 1 a (new) Draft motion for a resolution Amendment 1a. Believes also that the euro area and its member states have a crucial responsibility to ensure the long term stability of the currency used by 330 million people, many companies and investors; Or. en Amendment 13 Derk Jan Eppink Draft motion for a resolution Paragraph 2 Draft motion for a resolution Amendment 2. Stresses that it is in the strategic long 2. Stresses that it is in the strategic long term interest of the eurozone and of its term interest of the eurozone and of its member States to draw the benefits from member States to draw all possible benefits issuing a global reserve currency; from issuing the euro currency which has the potential of becoming a global reserve currency in the long term; Or. en Amendment 14 Wolf Klinz, Carl Haglund, Olle Schmidt Draft motion for a resolution Paragraph 3 Draft motion for a resolution Amendment 3. Notes in particular that the US Deleted Treasury market and the total euro-area sovereign bond market are comparable in size; points out that Stability Bonds would offer a viable alternative to the US dollar bond market and establish the euro as a AM\887046EN.doc 7/36 PE478.502v01-00 EN global 'safe haven'; Or. en Amendment 15 Markus Ferber Draft motion for a resolution Paragraph 3 Draft motion for a resolution Amendment 3. Notes in particular that the US Treasury 3. Notes in particular that the US Treasury market and the total euro-area sovereign market and the total euro-area sovereign bond market are comparable in size; points bond market are comparable in size; out that Stability Bonds would offer a viable alternative to the US dollar bond market and establish the euro as a global 'safe haven'; Or. en Amendment 16 Diogo Feio Draft motion for a resolution Paragraph 3 Draft motion for a resolution Amendment 3. Notes in particular that the US Treasury 3. Notes in particular that the US Treasury market and the total euro-area sovereign market and the total euro-area sovereign bond market are comparable in size; points bond market are comparable in size; points out that Stability Bonds would offer a out that Stability Bonds might offer a viable alternative to the US dollar bond viable alternative to the US dollar bond market and establish the euro as a global market and establish the euro as a global 'safe haven'; 'safe haven' after a stability culture could credibly be established in the euro area countries; Or. en Amendment 17 Werner Langen, Elmar Brok Draft motion for a resolution Paragraph 3 PE478.502v01-00 8/36 AM\887046EN.doc EN Draft motion for a resolution Amendment 3. Notes in particular that the US 3. Welcomes the presentation of the Green Treasury market and the total euro-area Book, which fulfils a long standing sovereign bond market are comparable in requests of the European Parliament; size; points out that Stability Bonds would Considers that the possible introduction of offer a viable alternative to the US dollar eurobonds would be an operation at par bond market and establish the euro as a in importance with the introduction of the global 'safe haven'; single currency; Notes that there is an infinite number of questions that remain to be clarified before an approval or disapproval of the principle of eurobonds can be given; Is open-minded and eager to actively discuss all issues relating to the topic; Or. en Amendment 18 Derk Jan Eppink Draft motion for a resolution Paragraph 3 Draft motion for a resolution Amendment 3. Notes in particular that the US Treasury 3. Notes in particular that the US Treasury market and the total euro-area sovereign market and the total euro-area sovereign bond market are comparable in size; points bond market are comparable in size, but out that Stability Bonds would offer a not in terms of liquidity, diversity, and viable alternative to the US dollar bond pricing; points out that it would be in the market and establish the euro as a global interest of the eurozone to develop a 'safe haven'; common liquid and diversified bond market; considers, in this regard, that Stability Bonds could offer an alternative to the US dollar bond market and, if successful, establish the euro as a global 'safe haven'; Or. en Amendment 19 Edward Scicluna Draft motion for a resolution Paragraph 3 AM\887046EN.doc 9/36 PE478.502v01-00 EN Draft motion for a resolution Amendment 3. Notes in particular that the US Treasury 3. Notes in particular that the US Treasury market and the total euro-area sovereign market and the total euro-area sovereign bond market are comparable in size; points bond market are comparable in size; points out that Stability Bonds would offer a out that a market for Stability Bonds viable alternative to the US dollar bond would offer a viable alternative to the US market and establish the euro as a global dollar bond market and establish the euro 'safe haven'; as a global 'safe haven'; Or.