Sittings · Document

Draft report (2024/2112(INI)) 2025-01-13

European Semester for economic policy coordination 2025

Committee on Economic and Monetary Affairs

Amendment 1

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 5 a (new)

Motion for a resolution	Amendment
	– having regard to the Paris Agreement adopted in the context of the United Nations Framework Convention on Climate Change and the Sustainable Development Goals,

Or. en

Amendment 2

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 5 b (new)

Motion for a resolution	Amendment
	– having regard to the Interinstitutional Proclamation on the European Pillar of Social Rights of 13 December 2017,

Or. en

Amendment 3

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 7 a (new)

Motion for a resolution	Amendment
	– having regard to Regulation (EU, Euratom) 2020/2092 of the European Parliament and of the Council of 16 December 2020 on a general regime of conditionality for the protection of the Union budget (Rule of Law Conditionality Regulation),

Or. en

Amendment 4

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 13 a (new)

Motion for a resolution	Amendment
	– having regard to Regulation (EU) 2021/241 of the European Parliament and of the Council of 12 February 2021 establishing the Recovery and Resilience Facility (RRF Regulation),

Or. en

Amendment 5

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 13 b (new)

Motion for a resolution	Amendment
	– having regard to the Commission communication of 4 March 2021 entitled 'The European Pillar of Social Rights Action Plan' (COM(2021)0102),

Or. en

Amendment 6

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 13 c (new)

Motion for a resolution	Amendment
	– having regard to the Porto Social Commitment of 7 May 2021 of the Council, the Commission, Parliament and social partners,

Or. en

Amendment 7

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 13 d (new)

Motion for a resolution	Amendment
	– having regard to the La Hulpe Declaration on the future of the European Pillar of Social Rights of 16 April 2024,

Or. en

Amendment 8

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 13 e (new)

Motion for a resolution	Amendment
	– having regard to its resolution of 21 January 2021 on access to decent and affordable housing for all,

Or. en

Amendment 9

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Evelyn Regner, Matthias Ecke, Jonás Fernández

Motion for a resolution

Citation 13 f (new)

Motion for a resolution	Amendment
	– having regard to the Political guidelines for the next European Commission 2024−2029 by Ursula von der Leyen, Candidate for the European Commission President, of 18 July 2024,

Or. en

Amendment 10

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 16 b (new)

Motion for a resolution	Amendment
	– having regard to the Commission communication of 17 December 2024 entitled ‘Alert Mechanism Report 2025’ (COM(2024)702) and to the Commission recommendation of 17 December 2024 for a Council recommendation on the economic policy of the euro area (COM(2024)704),

Or. en

Amendment 11

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 16 c (new)

Motion for a resolution	Amendment
	– having regard to the proposal for a Joint Employment Report of the Commission and the Council of 17 December 2024 (COM(2024)701),

Or. en

Amendment 12

Fernando Navarrete Rojas

Motion for a resolution

Citation 17 a (new)

Motion for a resolution	Amendment
	– having regard to the Commission communication of 17 December 2024 entitled ‘Alert Mechanism Report 2025’ (COM (2024)702),

Or. en

Amendment 13

Fernando Navarrete Rojas

Motion for a resolution

Citation 17 b (new)

Motion for a resolution	Amendment
	– having regard to the Commission recommendation of 17 December 2024 for a Council recommendation on the economic policy of the euro area (COM(2024)704),

Or. en

Amendment 14

Fernando Navarrete Rojas

Motion for a resolution

Citation 17 d (new)

Motion for a resolution	Amendment
	– having regard to the Proposal for a Joint Employment Report from the Commission and the Council of 17 December 2024 (COM(2024)701),

Or. en

Amendment 15

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Citation 19

Motion for a resolution	Amendment
– having regard to Council Decision (EU) 2024/2122 of 26 July 2024 on the existence of an excessive deficit in France9 ,	deleted
_________________
9 OJ L, 2024/2122, 1.8.2024, ELI: http://data.europa.eu/eli/dec/2024/2122/oj.

Or. en

Amendment 16

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Citation 20

Motion for a resolution	Amendment
– having regard to Council Decision (EU) 2024/2123 of 26 July 2024 on the existence of an excessive deficit in Hungary10 ,	deleted
_________________
10 OJ L, 2024/2123, 1.8.2024, ELI: http://data.europa.eu/eli/dec/2024/2123/oj.

Or. en

Amendment 17

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Citation 21

Motion for a resolution	Amendment
– having regard to Council Decision (EU) 2024/2124 of 26 July 2024 on the existence of an excessive deficit in Italy11 ,	deleted
_________________
11 OJ L, 2024/2124, 1.8.2024, ELI: http://data.europa.eu/eli/dec/2024/2124/oj.

Or. en

Amendment 18

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Citation 22

Motion for a resolution	Amendment
– having regard to Council Decision (EU) 2024/2125 of 26 July 2024 on the existence of an excessive deficit in Belgium12 ,	deleted
_________________
12 OJ L, 2024/2125, 1.8.2024, ELI: http://data.europa.eu/eli/dec/2024/2125/oj.

Or. en

Amendment 19

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Citation 23

Motion for a resolution	Amendment
– having regard to Council Decision (EU) 2024/2128 of 26 July 2024 on the existence of an excessive deficit in Malta13 ,	deleted
_________________
13 OJ L, 2024/2128, 1.8.2024, ELI: http://data.europa.eu/eli/dec/2024/2128/oj.

Or. en

Amendment 20

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Citation 24

Motion for a resolution	Amendment
– having regard Council Decision (EU) 2024/2129 of 26 July 2024 on the existence of an excessive deficit in Slovakia14 ,	deleted
_________________
14 OJ L, 2024/2129, 1.8.2024, ELI: http://data.europa.eu/eli/dec/2024/2129/oj.

Or. en

Amendment 21

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Citation 25

Motion for a resolution	Amendment
– having regard to Council Decision (EU) 2024/2133 of 26 July 2024 on the existence of an excessive deficit in Poland15 ,	deleted
_________________
15 OJ L, 2024/2133, 1.8.2024, ELI: http://data.europa.eu/eli/dec/2024/2133/oj.

Or. en

Amendment 22

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Citation 26

Motion for a resolution	Amendment
– having regard to Council Decision (EU) 2024/2130 of 26 July 2024 establishing that no effective action has been taken by Romania in response to the Council Recommendation of 18 June 202116 ,	deleted
_________________
16 OJ L, 2024/2130, 1.8.2024, ELI: http://data.europa.eu/eli/dec/2024/2130/oj.

Or. en

Amendment 23

Fernando Navarrete Rojas

Motion for a resolution

Citation 27 a (new)

Motion for a resolution	Amendment
	– having regard to the Special Report 13/2024 of the European Court of Auditors entitled ‘Absorption of funds from the Recovery and Resilience Facility – Progressing with delays and risks remain regarding the completion of measures and therefore the achievement of RRF objectives’,

Or. en

Amendment 24

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Jonás Fernández

Motion for a resolution

Citation 27 a (new)

Motion for a resolution	Amendment
	– having regard to the Monetary Dialogue paper by Zsolt Darvas, Pablo Hernandez De Cos & Jeromin Zettelmeyer of November 2024 entitled ‘The new economic governance framework: implications for monetary policy’,

Or. en

Amendment 25

Fernando Navarrete Rojas

Motion for a resolution

Citation 27 b (new)

Motion for a resolution	Amendment
	– having regard to the Monetary Dialogue Papers of November 2024 entitled 'The New Economic Governance Framework: Implications for Monetary Policy',

Or. en

Amendment 26

Fernando Navarrete Rojas

Motion for a resolution

Citation 27 c (new)

Motion for a resolution	Amendment
	– having regard to National Bureau of Economic Research working paper 15438 of October 2009 entitled ‘Large Changes in Fiscal Policy: Taxes versus Spending,’

Or. en

Amendment 27

Fernando Navarrete Rojas

Motion for a resolution

Citation 27 d (new)

Motion for a resolution	Amendment
	– - having regard to the in-depth analysis of the Economic Governance and EMU Scrutiny Unit of December 2024 entitled ‘Economic Dialogue with the European Commission on EU Fiscal Surveillance’

Or. en

Amendment 28

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 29 a (new)

Motion for a resolution	Amendment
	– having regard to Mario Draghi’s report of 9 September 2024 entitled ‘The future of European Competitiveness’ (‘Draghi Report’),

Or. en

Amendment 29

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 31 a (new)

Motion for a resolution	Amendment
	– having regard to the Opinion of the Employment Committee and the Social Protection Committee on the Future policy priorities for the Union on the European Pillar of Social Rights, as endorsed by the EPSCO Council at its session on 11 March 2024,

Or. en

Amendment 30

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Citation 31 b (new)

Motion for a resolution	Amendment
	– having regard to the note from the General Secretariat of the Council of 4 March 2024 entitled ‘Social reforms and investments for resilient economies – Investing in people to boost productivity and growth prospects’ for the EPSCO-ECOFIN Council of 12 March 2024,

Or. en

Amendment 31

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Citation 33 a (new)

Motion for a resolution	Amendment
	– having regard to the thematic report of May 2024 entitled "Eradicating poverty beyond growth" by Olivier de Schutter, United Nations Special Rapporteur on extreme poverty and human rights,

Or. en

Amendment 32

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Citation 33 b (new)

Motion for a resolution	Amendment
	– having regard to the Commission communication of 11 December 2019 on the “The European Green Deal” and its proposal "to integrate the United Nations’ Sustainable Development Goals (SDGs) to put sustainability and the well-being of citizens at the centre of economic policy, and the SDGs at the heart of the EU’s policy making and action",

Or. en

Amendment 33

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Citation 33 c (new)

Motion for a resolution	Amendment
	– having regard to the conclusions of the European Council of 27 October 2019 on ‘The Economy of wellbeing’,

Or. en

Amendment 34

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Citation 33 d (new)

Motion for a resolution	Amendment
	– having regard to the International Monetary Fund (IMF) working paper of 21 September 2021 entitled ‘Still Not Getting Energy Prices Right: A Global and Country Update of Fossil Fuel Subsidies’ by Ian Parry, Simon Black, Nate Vernon-Lin,

Or. en

Amendment 35

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Citation 33 e (new)

Motion for a resolution	Amendment
	– having regard to the statement by Valdis Dombrovskis, Commissioner for Economy and Productivity, Implementation and Simplification, at its confirmation hearing on 7 November 2024,

Or. en

Amendment 36

Markus Ferber

Motion for a resolution

Citation 36 a (new)

Motion for a resolution	Amendment
	– having regard to the 2025 European Semester Autumn package1a;
	_________________
	1a COM(2024) 700 final

Or. de

Amendment 37

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Jonás Fernández

Motion for a resolution

Recital A

Motion for a resolution	Amendment
A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States;	A. whereas the European Semester plays an essential role in coordinating economic, budgetary, employment and social policies in the Member States, and thus preserves the macroeconomic stability of the Economic and Monetary Union;

Or. en

Amendment 38

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Recital A

Motion for a resolution	Amendment
A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States;	A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States and should contribute to the achievement of EU social and environmental objectives;

Or. en

Amendment 39

Manon Aubry

Motion for a resolution

Recital A a (new)

Motion for a resolution	Amendment
	A a. whereas Country-Specific Recommendations in the framework of the European Semester tend to incentivize cuts in social services and social protection instead of promoting the increase of public revenues; whereas from the introduction of the European Semester in 2011 till 2018, the Commission recommended 63 times that governments cut spending on healthcare or privatise health services;

Or. en

Amendment 40

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Recital A a (new)

Motion for a resolution	Amendment
	A a. whereas achieving the EU’s objectives is contingent on enabling all Member States to undertake necessary investments, which require fiscal flexibility, innovative financing mechanisms, and strengthened cohesion policies to address disparities across regions;

Or. en

Amendment 41

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Recital A a (new)

Motion for a resolution	Amendment
	Aa. whereas the European Semester aims to ensure economic growth, job creation, macroeconomic stability and sound public finances throughout the entire European Union;

Or. es

Amendment 42

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Jonás Fernández

Motion for a resolution

Recital A a (new)

Motion for a resolution	Amendment
	A a. whereas the 2024 European Semester marks the first implementation cycle of the new economic governance framework, which came into force on 30 April 2024, guiding the EU and its Member States through a transitional phase;

Or. en

Amendment 43

Irene Tinagli

Motion for a resolution

Recital A a (new)

Motion for a resolution	Amendment
	A a. whereas in the first quarter of 2024 housing construction contributed approximately to 6% of GDP, and investment in dwellings accounted for roughly 28% of gross fixed capital formation;

Or. en

Amendment 44

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Recital A b (new)

Motion for a resolution	Amendment
	A b. whereas the main objectives of the new economic governance framework are to strengthen Member States' debt sustainability and promote sustainable and inclusive growth in all Member States through growth-enhancing reforms and investments in the common priorities of the Union, that include securing the green and digital transitions, strengthening economic and social resilience, including the European Pillar of Social Rights, productivity and competitiveness, as well as bolstering Europe's security capacity;

Or. en

Amendment 45

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Recital A b (new)

Motion for a resolution	Amendment
	A b. whereas demographic challenges, including declining birth rates and an ageing population, pose significant risks to labour markets, welfare systems, and regional vitality; whereas addressing these challenges is essential to ensuring long-term economic stability, fiscal sustainability, and social cohesion across the Union;

Or. en

Amendment 46

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Recital A c (new)

Motion for a resolution	Amendment
	A c. whereas disparities in fiscal capacity among Member States hinder equitable investment in strategic priorities and weaken cohesion within the Single Market; whereas improving the use of existing EU financial instruments, such as the Recovery and Resilience Facility and Cohesion Policy funds, can help Member States finance large-scale investments in critical areas such as strategic industrial autonomy and energy independence;

Or. en

Amendment 47

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Recital A c (new)

Motion for a resolution	Amendment
	A c. whereas the Council Recommendation on the economic policy of the Euro area underlines the need to take further steps in deepening the economic and monetary union while considering lessons learnt from the design and implementation of the Union’s comprehensive economic policy response to the COVID-19 crisis;

Or. en

Amendment 48

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Recital A d (new)

Motion for a resolution	Amendment
	A d. whereas EU funding has proven to be a vital instrument for ensuring macroeconomic stabilization at the EU level in the face of multiple crises since 2019, enhancing internal and external resilience, and supporting Member States in financing essential investments within the Union;

Or. en

Amendment 49

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Jonás Fernández

Motion for a resolution

Recital A e (new)

Motion for a resolution	Amendment
	A e. whereas the euro area will undergo a restrictive fiscal stance of around 0.5% of GDP in 2025 due to the implementation of the new fiscal rules, followed by a fiscal contraction until 2031 of 0.2% to 0.3% of GDP per year, resulting in a cumulative impact on output of 1.5% to 1.9% of GDP;

Or. en

Amendment 50

Markus Ferber

Motion for a resolution

Recital B

Motion for a resolution	Amendment
B. whereas reference values of up to 3 % of government deficit and 60 % of debt to GDP are defined by the TFEU; whereas the EU’s headline deficit and government debt-to-GDP ratio remain above the reference values;	B. whereas reference values of up to 3 % of government deficit and 60 % of debt to GDP are defined by the TFEU; whereas the EU’s headline deficit and government debt-to-GDP ratio remain above the reference values; whereas some Member States are exceeding the reference values to a significant extent;

Or. de

Amendment 51

Lídia Pereira

Motion for a resolution

Recital B

Motion for a resolution	Amendment
B. whereas reference values of up to 3 % of government deficit and 60 % of debt to GDP are defined by the TFEU; whereas the EU’s headline deficit and government debt-to-GDP ratio remain above the reference values;	B. whereas reference values of up to 3 % of government deficit and 60 % of debt to GDP are defined by the TFEU; whereas the EU’s headline deficit and government debt-to-GDP ratio remain above the reference values; whereas both headline deficit and government debt-to-GDP ratio are heterogeneous within the EU, with significantly different situations across Member States;

Or. en

Amendment 52

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Recital B

Motion for a resolution	Amendment
B. whereas reference values of up to 3 % of government deficit and 60 % of debt to GDP are defined by the TFEU; whereas the EU’s headline deficit and government debt-to-GDP ratio remain above the reference values;	B. whereas reference values of up to 3% of government deficit to GDP and 60% of government debt to GDP are defined by the TFEU; whereas the EU’s headline deficit and government debt-to-GDP ratio remain above the reference values;

Or. es

Amendment 53

Fernando Navarrete Rojas

Motion for a resolution

Recital B

Motion for a resolution	Amendment
B. whereas reference values of up to 3 % of government deficit and 60 % of debt to GDP are defined by the TFEU; whereas the EU’s headline deficit and government debt-to-GDP ratio remain above the reference values;	B. whereas reference values of up to 3 % of government deficit and 60 % of public debt to GDP are defined by the TFEU; whereas the EU’s headline deficit and government debt-to-GDP ratio remain above the reference values;

Or. en

Amendment 54

Manon Aubry

Motion for a resolution

Recital B a (new)

Motion for a resolution	Amendment
	B a. whereas the 3% deficit-to-GDP and 60% debt-to-GDP reference values are arbitrary numbers invented in the early eighties without sound economic rationale; whereas the prevailing economic conditions back then were significantly different from those prevailing today;

Or. en

Amendment 55

Irene Tinagli

Motion for a resolution

Recital B a (new)

Motion for a resolution	Amendment
	B a. whereas simultaneous consolidation across Member States during the EU sovereign debt crisis has contributed to sharper recession due to negative cross-country spillovers1a;
	_________________
	1a Terzi A. (2020). Macroeconomic adjustment in the euro area. European Economic Review, vol. 128

Or. en

Amendment 56

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Recital C

Motion for a resolution	Amendment
C. whereas compliance with the expenditure rule under the previous framework in the euro area (2011-2023) was 52 %;	deleted

Or. en

Amendment 57

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Recital D

Motion for a resolution	Amendment
D. whereas excessive deficit procedures were opened, or kept open, for eight Member States in 2024; whereas some Member States were not subject to an excessive deficit procedure, despite having a deficit above 3 % of GDP in 2023;	D. whereas excessive deficit procedures were opened, or kept open, for eight Member States in 2024;

Or. en

Amendment 58

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Jonás Fernández

Motion for a resolution

Recital D

Motion for a resolution	Amendment
D. whereas excessive deficit procedures were opened, or kept open, for eight Member States in 2024; whereas some Member States were not subject to an excessive deficit procedure, despite having a deficit above 3 % of GDP in 2023;	D. whereas excessive deficit procedures were opened, or kept open, for eight Member States in 2024; whereas some Member States were not subject to an excessive deficit procedure, despite having a deficit above 3% of GDP in 2023 as decided by the Council and the Commission after a balanced assessment of all the relevant factors, inter alia the increase of government investment in defence to address the rising geopolitical tensions and security challenges and the corresponding need for Member States to build-up their capabilities;

Or. en

Amendment 59

Claire Fita, Thomas Bajada, Lara Wolters, Matthias Ecke, Jonás Fernández

Motion for a resolution

Recital D a (new)

Motion for a resolution	Amendment
	D a. whereas no procedure concerning macroeconomic imbalances has been opened by the Council since its establishment in 2011, despite the identification of macroeconomic imbalances considered serious in many Member States;

Or. en

Amendment 60

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Recital D b (new)

Motion for a resolution	Amendment
	D b. whereas housing prices have risen by an average of 48% in the European Union between 2015 and 2023; that rental prices have risen by an average of 18% between 2010 and 2022 and that, on average, European citizens will have spent 19.7% of their disposable income on housing in 2023; whereas rental prices have risen by an average of 18% between 2010 and 2022 and that, on average, European citizens will have spent 19.7% of their disposable income on housing in 2023; whereas despite a recent moderation, house price growth remains high in 2023, after strong growth over 2020-22 and that house prices are estimated to remain overvalued in three quarters of EU countries, with over half displaying signs of overvaluations of over 10%;

Or. en

Amendment 61

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Recital E

Motion for a resolution	Amendment
E. whereas the Commission concluded in June 2024 that eight Member States had exceeded the recommended expenditure growth levels in 2023;	deleted

Or. en

Amendment 62

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Recital E a (new)

Motion for a resolution	Amendment
	Ea. whereas the economic outlook for the Union remains highly uncertain and the risk of future events or situations negatively affecting the economy is increasing; whereas Russia's aggression in Ukraine and conflicts in the Middle East are aggravating geopolitical risks and demonstrate Europe's energy vulnerability; whereas a rise in protectionist measures by trading partners may affect world trade, with negative repercussions for our economy;

Or. es

Amendment 63

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Recital E a (new)

Motion for a resolution	Amendment
	E a. whereas Member States should put in place the necessary control and audit mechanisms to ensure respect for the rule of law and to protect the financial interests of the Union, in particular to prevent fraud, corruption and conflicts of interest and to ensure transparency; whereas it is important that Member States implement the relevant Country-Specific Recommendations to create favourable conditions in this regard;

Or. en

Amendment 64

Fernando Navarrete Rojas

Motion for a resolution

Recital E a (new)

Motion for a resolution	Amendment
	E a. whereas the EU urgently needs to tackle the obstacles to competitiveness; whereas the European Semester will continue to focus on providing guidance on the policy action needed to address economic challenges, with the aim of improving the EU’s competitiveness;

Or. en

Amendment 65

Markus Ferber

Motion for a resolution

Recital E a (new)

Motion for a resolution	Amendment
	Ea. whereas, in light of its Alert Mechanism Report, the European Commission will conduct an in-depth review of nine countries identified as experiencing macroeconomic imbalances or excessive imbalances in 2024;

Or. de

Amendment 66

Jonás Fernández

Motion for a resolution

Recital E a (new)

Motion for a resolution	Amendment
	E a. whereas the current geopolitical tensions have demonstrated the need for the European Union to further strengthen its open strategic autonomy and remain competitive in the global market, while ensuring that no one is left behind;

Or. en

Amendment 67

Irene Tinagli

Motion for a resolution

Recital E a (new)

Motion for a resolution	Amendment
	E a. whereas the Recover and Resilience Facility (RRF) aimed by design at supporting economic convergence; whereas it proved useful and adaptable to the challenges of the subsequent disruption of energy market;

Or. en

Amendment 68

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Recital E a (new)

Motion for a resolution	Amendment
	E a. whereas in 2023, 5 EU countries had current account surpluses, ranging from 6% to 10% of GDP, pointing out fiscal space for structural investments;

Or. en

Amendment 69

Jonás Fernández

Motion for a resolution

Recital E b (new)

Motion for a resolution	Amendment
	E b. whereas the success of climate-neutral policies and the digital transformation relies on a common European approach and requires measures both at the EU and Member State level; whereas the future resilience of the EU is closely linked to increased public and private investments for sustainable growth that meets the goals of the European Green Deal and the Paris Agreement, as well as an ambitious structural reform agenda; whereas addressing the need for a timely strategy to ensure appropriate public investment levels following the expiration of the Recovery and Resilience Facility (RRF) in 2026 is imperative;

Or. en

Amendment 70

Markus Ferber

Motion for a resolution

Recital E b (new)

Motion for a resolution	Amendment
	Eb. whereas in this year’s Recommendation on the economic policy of the euro area, the European Commission calls on Member States to take action, both individually and collectively, to improve competitiveness, strengthen economic resilience and ensure macroeconomic and financial stability;

Or. de

Amendment 71

Irene Tinagli

Motion for a resolution

Recital E b (new)

Motion for a resolution	Amendment
	E b. whereas the European instrument for temporary Support to mitigate Unemployment Risks in an Emergency (SURE) scheme supported relevant institutional changes in several Member States in support of short-time work schemes and similar measures; whereas it helped to keep people in jobs, avoiding unemployment, income losses and potential hysteresis effect;

Or. en

Amendment 72

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Recital E b (new)

Motion for a resolution	Amendment
	E b. whereas the Draghi report estimates at EUR €800 billion the EU annual investment need, including EUR €450 billion for the energy transition from which EUR €260 billion should come from the public sector according to Institut Rousseau;

Or. en

Amendment 73

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Recital E b (new)

Motion for a resolution	Amendment
	E b. whereas the gap between the EU and the US in terms of the level of GDP in 2015 prices has gradually widened, from slightly more than 15% in 2002 to 30% in 2023 as underscored by the Draghi report;

Or. en

Amendment 74

Fernando Navarrete Rojas

Motion for a resolution

Recital E b (new)

Motion for a resolution	Amendment
	E b. whereas fiscal stability is a precondition for both sustainable high social standards in the EU and its competitiveness;

Or. en

Amendment 75

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Recital E c (new)

Motion for a resolution	Amendment
	E c. whereas one of the main objective of the EU Green Deal is to transform the economy for a sustainable future; whereas the 8th Environment action programme to 2030 commits to advancing towards a regenerative growth model, decoupling economic growth from resource use and environmental degradation, and accelerating the transition to a circular economy in order for Europeans to live well within planetary boundaries and in a well-being economy where nothing is wasted and nobody is left behind;

Or. en

Amendment 76

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Recital E c (new)

Motion for a resolution	Amendment
	E c. whereas to achieve our European objectives and strategic priorities, the European Union will need additional annual investments in the high triple-digit billions in the upcoming years, as underscored by the recent Draghi report;

Or. en

Amendment 77

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Recital E d (new)

Motion for a resolution	Amendment
	E d. whereas the self-imposed goal by the new Commission is to be an “investment Commission” and unlock the financing needed for the green, digital and social transition;

Or. en

Amendment 78

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph -1 (new)

Motion for a resolution	Amendment
	-1. Recalls that the European Semester is the framework established to coordinate fiscal, economic, employment and social policies across the Union, in line with the Treaties, including the European Pillar of Social Rights, thus safeguarding its macroeconomic stability and social cohesion;

Or. en

Amendment 79

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph -1 a (new)

Motion for a resolution	Amendment
	-1 a. Welcomes the new Commission's commitment to focus the coordination under the European Semester on the Union’s objectives of sustainable and inclusive growth and employment, keeping competitiveness, prosperity, sustainability and social fairness at its very core; moreover, welcomes its strong dedication to the European Green Deal, the further implementation of the European Pillar of Social Rights and the Social Convergence Framework, and the continued integration of the United Nations Sustainable Development Goals into the European Semester;

Or. en

Amendment 80

Pierre Pimpie

Motion for a resolution

Paragraph 1

Motion for a resolution	Amendment
1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that increase productivity;	1. Recalls that the EU is facing significant investment gaps, in particular in the areas of competitiveness and the digital and green transition; believes that the private sector will have to take the lion’s share, though public investment will also have a supporting role to play; welcomes the fact that the new economic governance framework facilitates and encourages Member States to implement necessary reforms and to invest in those areas;

Or. fr

Amendment 81

Manon Aubry

Motion for a resolution

Paragraph 1

Motion for a resolution	Amendment
1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that increase productivity;	1. Notes that the Commission's Country-Specific Recommendations in the framework of the European Semester made recurring requests for reduction in public spending, and that the Commission has specifically targeted pensions, healthcare provision, wage growth, job security and unemployment benefits; notes that, in the last few years, the EU has faced major shocks, and that the negative impact of these shocks on the most vulnerable has been reinforced by the austerity policies inspired and incentivized by those recommendations of the Commission; further recalls that promoting well-being means promoting fair and long-term oriented fiscal policies and investments;

Or. en

Amendment 82

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 1

Motion for a resolution	Amendment
1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that increase productivity;	1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response, including new Union instruments such as the Recovery and Resilience Facility (RRF) and the European Instrument for Temporary Support to Mitigate Unemployment Risks in an Emergency (SURE);

Or. en

Amendment 83

Carla Tavares

Motion for a resolution

Paragraph 1

Motion for a resolution	Amendment
1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that increase productivity;	1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience, and unity in the face of major shocks thanks to a coordinated policy response, involving all the EU institutions; further recalls that promoting sustainable and inclusive growth in a sustained manner means promoting a sustainable balance between responsible fiscal policies and ambitious investments;

Or. en

Amendment 84

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 1

Motion for a resolution	Amendment
1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that increase productivity;	1. Notes that, in the last few years, the EU has demonstrated a certain degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that enable a just transition towards a green and digital economy;

Or. en

Amendment 85

Thomas Bajada

Motion for a resolution

Paragraph 1

Motion for a resolution	Amendment
1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that increase productivity;	1. Notes that, in the last few years, the EU has, as a result of a coordinated policy response, demonstrated a high degree of resilience in the face of major shocks; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, socially-conscious structural reforms and investments that increase productivity with the long-term goal of ensuring a shift in economic modelling that prioritises well-being and sustainability for future generations;

Or. en

Amendment 86

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 1

Motion for a resolution	Amendment
1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that increase productivity;	1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner involves promoting fiscal discipline and responsible budgetary policies, advancing pro-market structural reforms and increasing investments, particularly strategic ones, with a view to boosting productivity, fostering a more competitive single market, developing economic growth policies and revising the regulatory framework to attract investments; stresses the essential need for sustainable and competitive economic growth by achieving efficiency and promoting economic freedom;

Or. es

Amendment 87

Markus Ferber

Motion for a resolution

Paragraph 1

Motion for a resolution	Amendment
1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that increase productivity;	1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response and a flexible approach to the use of the available instruments; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that increase productivity; notes that the existing economic policy coordination framework has been fundamentally successful;

Or. de

Amendment 88

Enikő Győri, Pierre Pimpie

Motion for a resolution

Paragraph 1

Motion for a resolution	Amendment
1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth in a sustained manner means promoting responsible fiscal policies, structural reforms and investments that increase productivity;	1. Notes that, in the last few years, the EU has demonstrated a high degree of resilience in the face of major shocks, among other factors, thanks to a coordinated policy response; further recalls that promoting sustainable growth means promoting responsible fiscal policies, structural reforms and investments that increase productivity and boost competitiveness;

Or. en

Amendment 89

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 1 a (new)

Motion for a resolution	Amendment
	1a. Recalls that European economic growth must be grounded in a free market in which there is competition between companies and regions, the reduction of regulatory barriers to business, the implementation of tax policies that encourage investment and job creation, protect the private property of individuals, promote international and European industrial trade, encourage innovation and entrepreneurship, maintain a stable monetary policy, invest in education and training in order to develop a skilled workforce, control and reduce public spending by avoiding excessive deficits and maintain a stable monetary policy, invest in education and training to develop a skilled workforce, control and reduce public spending by avoiding excessive deficits and maintain a stable monetary policy, encourage and promote flexibility in the labour market to make it easier for firms to adapt to changes in demand;

Or. es

Amendment 90

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 1 a (new)

Motion for a resolution	Amendment
	1 a. Recalls that climate change is heavily affecting public finance, as demonstrated by the floods in Valencia in October 2024 and the cyclone that devastated Mayotte on 14 December 2024; points out to the increased frequency and impact of natural disasters that would entail massive costs for public finance; recalls the increased costs of various sources of pollution for the health sector and public spending; calls on Member States to make the necessary investments to improve climate change adaptation and mitigation as well as improving the resilience of the EU economy;

Or. en

Amendment 91

Manon Aubry

Motion for a resolution

Paragraph 1 a (new)

Motion for a resolution	Amendment
	1 a. Notes that the Commission has engaged in significant overreach through the European Semester process when it comes to public policy areas that legally fall under the competence of the Member States under the TFEU, such as pensions and the provision of healthcare;

Or. en

Amendment 92

Dirk Gotink

Motion for a resolution

Paragraph 2

Motion for a resolution	Amendment
2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;	2. Welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;

Or. en

Amendment 93

Manon Aubry

Motion for a resolution

Paragraph 2

Motion for a resolution	Amendment
2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;	2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure;

Or. en

Amendment 94

Thomas Bajada

Motion for a resolution

Paragraph 2

Motion for a resolution	Amendment
2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;	2. Believes that overcoming social, climate, competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure;

Or. en

Amendment 95

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke

Motion for a resolution

Paragraph 2

Motion for a resolution	Amendment
2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;	2. Believes that relaunching growth and overcoming competitive, geopolitical, economic, digital, climate and democratic challenges , the EU and the Member States must step up their efforts, in particular budgetary efforts, to accelerate innovation, education, training, decarbonisation and strengthen European competitiveness, particularly in the industrial field, strengthen security notably through investments in overall defence capabilities and reduce all its dependencies;

Or. en

Amendment 96

Pierre Pimpie

Motion for a resolution

Paragraph 2

Motion for a resolution	Amendment
2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;	2. Believes that overcoming competitive and geopolitical challenges will require priority to be given to enhanced cooperation between the Member States in policy areas related to European public goods, while respecting the national competences and ensuring effective management of public expenditure; notes, in particular, that spending on security and defence is essential for the sovereignty of Member States, which have their own history and diplomatic traditions; stresses that, pursuant to the principle of subsidiarity, defence policy can only be conducted at Member State level;

Or. fr

Amendment 97

Enikő Győri, Pierre Pimpie

Motion for a resolution

Paragraph 2

Motion for a resolution	Amendment
2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;	2. Believes that overcoming competitive and geopolitical challenges can be best addressed by respecting Member States’ competences; believes that - based on the principle of subsidiarity - Member States have the best understanding on the challenges they are facing; welcomes at the same time the Union’s commitment to boosting its competitiveness while also increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;

Or. en

Amendment 98

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 2

Motion for a resolution	Amendment
2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;	2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; notes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges; stresses that these investments should not come at the expense of the necessary investments for the Green transition;

Or. en

Amendment 99

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 2

Motion for a resolution	Amendment
2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;	2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure, with well-defined, limited competences and in a manner compliant with the principle of subsidiarity; points out that the solution does not lie in greater public spending that increases public debt, but rather in structural reforms such as reducing bureaucracy, simplifying administrative and regulatory frameworks, completing the Capital Markets Union, attracting private investment, and developing attractive regulatory frameworks; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges; recalls that any transferred spending must be accompanied by robust mechanisms ensuring transparency, accountability, and the efficient use of funds, so as to avoid indiscriminate increases in public spending;

Or. es

Amendment 100

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Paragraph 2

Motion for a resolution	Amendment
2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;	2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods and strategic industrial and manufacturing sectors; emphasizes the need for robust EU-level funding mechanisms to ensure large-scale investments, enhancing Europe’s strategic autonomy and competitiveness; to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;

Or. en

Amendment 101

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 2

Motion for a resolution	Amendment
2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;	2. Believes that overcoming competitive and geopolitical challenges will require the transfer of some national expenditure to the EU level in certain policy areas related to the provision of European public goods to increase the efficiency of overall public expenditure, by making use of economies of scale, thus reducing the cost for taxpayers; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;

Or. en

Amendment 102

Markus Ferber

Motion for a resolution

Paragraph 2

Motion for a resolution	Amendment
2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges;	2. Believes that overcoming competitive and geopolitical challenges will require the transfer of expenditure to the EU level in certain policy areas related to European public goods to increase the efficiency of overall public expenditure; welcomes the Union’s commitment to increasing its spending efficiency and investments in overall defence capabilities to match its needs in the context of rising threats and security challenges; stresses that the existing economic policy framework does not in any way stand in the way of this objective;

Or. de

Amendment 103

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Paragraph 2 a (new)

Motion for a resolution	Amendment
	2 a. Stresses the need to improve the Stability and Growth Pact to provide greater flexibility for Member States, taking into account their specific financial needs and investment priorities; underlines that exempting expenditures related to the green and digital transition, as well as defence spending, from deficit-to-GDP calculations would enable fiscally constrained Member States to undertake essential projects, fostering a fair and cohesive transition as well as economic resilience across the Union;

Or. en

Amendment 104

Carla Tavares

Motion for a resolution

Paragraph 2 a (new)

Motion for a resolution	Amendment
	2 a. Recalls that the revised EU economic governance framework does not support a “defence only” approach in terms of investments and explicitly states that the set of reforms and investments set out in medium-term fiscal-structural plans should be aligned with the common priorities of the Union, namely the fair green and digital transition; social and economic resilience, including the European Pillar of Social Rights; energy security; and, where necessary, the build-up of defence capabilities;

Or. en

Amendment 105

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 2 a (new)

Motion for a resolution	Amendment
	2 a. Recommends, in view of the European issues at stake, the transfer of expenditure to EU level in certain areas of action linked to European public goods; calls on the Commission and the Member States to ensure that there is a significant increase in public and private investment in order to finance the green, digital and social transitions as proclaimed in the Commission’s political guidelines for 2024-2029;

Or. en

Amendment 106

Thomas Bajada

Motion for a resolution

Paragraph 2 a (new)

Motion for a resolution	Amendment
	2 a. Appreciates the commitment by a number of Member States to increase their spending efficiency and investments in overall defence capabilities to match their needs in the context of rising threats and security challenges;

Or. en

Amendment 107

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Paragraph 2 b (new)

Motion for a resolution	Amendment
	2 b. Believes that debt sustainability must be achieved through economic growth driven by strategic investment and structural reforms, rather than excessive cuts in public spending; calls on Member States to prioritize investment-driven reforms in their National Reform Programmes (NRPs), supported by EU instruments like the Recovery and Resilience Facility, to foster industrial and energy independence, modernize productive systems, and promote social cohesion;

Or. en

Amendment 108

Manon Aubry

Motion for a resolution

Paragraph 3

Motion for a resolution	Amendment
3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;	3. Highlights the fact that a consistent and comprehensive industrial policy is vital to preserve the EU's production capacity, while preserving jobs and the ability to cater for ecologically and socially useful goods, regrets that in the context of a general reduction of public spending, multinational companies have throughout the years benefited from significant amounts of public money without any obligation attached, regarding for instance the preservation of local jobs, local production, ecological objectives or the limitation of the revenue of shareholders and of the income of executives.

Or. en

Amendment 109

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 3

Motion for a resolution	Amendment
3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;	3. Highlights the fact that an innovative, decarbonised, consistent and comprehensive industrial policy is vital to increase the Union's competitiveness achieving climate neutrality by 2050, while preserving the integrity of the single market and social inclusion and ensuring the EU’s energy and defensive sovereignty;

Or. en

Amendment 110

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 3

Motion for a resolution	Amendment
3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;	3. Highlights the fact that a consistent and comprehensive clean industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness, the integrity of the single market and ensuring that Green Deal objectives are met;

Or. en

Amendment 111

Dirk Gotink

Motion for a resolution

Paragraph 3

Motion for a resolution	Amendment
3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;	3. Highlights the fact that a coordinated and targeted industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market; emphasizes the need to restrict public support to only highly necessary corrections in the economy; stresses that investments in the EU's innovation capacity should in the first place come from the mobilisation of private capital;

Or. en

Amendment 112

Carla Tavares

Motion for a resolution

Paragraph 3

Motion for a resolution	Amendment
3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;	3. Highlights the fact that a consistent, comprehensive and integrated industrial, digital and climate policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness, social cohesion and the integrity of the single market;

Or. en

Amendment 113

Markus Ferber

Motion for a resolution

Paragraph 3

Motion for a resolution	Amendment
3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;	3. Highlights the fact that a consistent and principled industrial policy is vital to increase investments in the EU’s innovation capacity, while bolstering competitiveness and the integrity of the single market;

Or. de

Amendment 114

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 3

Motion for a resolution	Amendment
3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;	3. Highlights the fact that a consistent and horizontal industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;

Or. en

Amendment 115

Enikő Győri, Pierre Pimpie

Motion for a resolution

Paragraph 3

Motion for a resolution	Amendment
3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;	3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while re-enforcing competitiveness and preserving the integrity of the single market; calls on the Commission to come up with initiatives, based on the Budapest Declaration, in order to put the EU economy back on the high growth track;

Or. en

Amendment 116

Gerben-Jan Gerbrandy, Stéphanie Yon-Courtin, Gilles Boyer

Motion for a resolution

Paragraph 3

Motion for a resolution	Amendment
3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;	3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market; highlights that public and private investments are crucial for the EU's ability to cope with existing challenges, including the just green and digital transitions, and that they will increase the EU's resilience, long-term competitiveness and strategic autonomy; calls attention to the investments in renewables and energy efficiency that are needed to, among other things, make the EU independent from imported fossil fuels and their possible inflationary effects;

Or. en

Amendment 117

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Paragraph 3

Motion for a resolution	Amendment
3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;	3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market; stresses the need to foster a dynamic entrepreneurial ecosystem that supports innovators, recognizing their critical role in driving global competitiveness, economic resilience, job creation, and strategic autonomy;

Or. en

Amendment 118

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 3

Motion for a resolution	Amendment
3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market;	3. Highlights the fact that a consistent and comprehensive industrial policy is vital to increase investments in the EU’s innovation capacity, while preserving competitiveness and the integrity of the single market; welcomes the tax incentives for private research and development, which can contribute to increasing an economy's overall spending on research and development;

Or. es

Amendment 119

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 3 a (new)

Motion for a resolution	Amendment
	3a. Recalls that Member States hold exclusive competence in some own economic policies, in particular regarding tax policies within the boundaries of the EU Treaties; acknowledges that although tax policy remains largely a responsibility of the Member States, the single market requires coordination in setting tax policy in order to further single market integration; highlights that EU Member States cooperating on corporate taxation is not a goal in itself, but rather a tool to complete, improve and further develop the single market;

Or. es

Amendment 120

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Paragraph 3 a (new)

Motion for a resolution	Amendment
	3 a. Stresses the importance of supporting micro, small and medium-sized enterprises (MSMEs) as key drivers of economic growth and employment within the EU; calls on Member States to prioritize reforms that simplify administrative procedures and improve MSMEs’ access to financing as part of their National Reform Programmes (NRPs);

Or. en

Amendment 121

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 3 a (new)

Motion for a resolution	Amendment
	3 a. Welcomes the Commission’s recommendation on the economic policy of the euro area, urging Member States to enhance competitiveness and foster productivity through improved access to funding for businesses, reduced administrative burdens, and public and private investment in areas of common priorities;

Or. en

Amendment 122

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 3 b (new)

Motion for a resolution	Amendment
	3 b. Welcomes the Commission's recommendation that, when defining fiscal strategies, euro area Member States should aim to improve the quality and efficiency of expenditure and revenue measures, and calls on them to adopt a judicious approach to fiscal adjustment, carefully designed to minimize detrimental impacts on growth; notes especially the more detrimental effect on growth of tax increases1a ; welcomes the 'Draghi report' conclusion that a coordinated reduction of labour income taxation for low-to middle-income workers is needed to promote EU competitiveness;
	_________________
	1a Alesina, Alberto, and Silvia Ardagna. Large changes in fiscal policy: taxes versus spending. Tax policy and the economy 24.1(2010): 35–68.

Or. en

Amendment 123

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Paragraph 3 b (new)

Motion for a resolution	Amendment
	3 b. Underlines the need for coordinated measures to address challenges arising from rising energy costs and volatile commodity prices by promoting energy efficiency and ensuring fair access to energy markets;

Or. en

Amendment 124

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Paragraph 3 c (new)

Motion for a resolution	Amendment
	3 c. Calls on Member States to integrate targeted measures addressing demographic decline into their National Reform Programmes (NRPs), focusing on boosting birth rates through investments in affordable childcare, housing, and education; underlines the importance of ensuring that these investments are supported by the efficient use of EU financial instruments; stresses the need for flexible frameworks that allow Member States to tailor family policies to their specific cultural and demographic contexts;

Or. en

Amendment 125

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 3 c (new)

Motion for a resolution	Amendment
	3 c. Welcomes the recommendations of the 'Draghi report' that EU competitiveness will require a strict set of fiscal rules; highlights the need to create fiscal buffers to address fiscal sustainability challenges, ensuring sufficient resources for investment and, absorb potential future shocks;

Or. en

Amendment 126

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Paragraph 3 d (new)

Motion for a resolution	Amendment
	3 d. Encourages Member States to prioritize investment spending that produces long-term economic growth and contributes to wealth creation while reducing public debt; calls for targeted reforms to accelerate the absorption and efficient use of EU resources, including the Recovery and Resilience Facility and Cohesion Policy funds, to support families, businesses, and the modernization of productive systems;

Or. en

Amendment 127

Enikő Győri, Auke Zijlstra, Pierre Pimpie

Motion for a resolution

Paragraph 4

Motion for a resolution	Amendment
4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the upside;	4. Expresses its concerns that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow only by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the upside;

Or. en

Amendment 128

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 4

Motion for a resolution	Amendment
4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the upside;	4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain;

Or. en

Amendment 129

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 4

Motion for a resolution	Amendment
4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the upside;	4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024, by 1.5 % (1.3 % in the euro area) in 2025 and by 1.8% (1.6% in the euro area) in 2026; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the downside;

Or. en

Amendment 130

Giovanni Crosetto, Denis Nesci, Francesco Ventola

Motion for a resolution

Paragraph 4

Motion for a resolution	Amendment
4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the upside;	4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the downside;

Or. en

Amendment 131

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 4

Motion for a resolution	Amendment
4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the upside;	4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the downside; notes that for the EU, the figure is 0.1 percentage points below the economic growth figure in the Spring 2024 report, while the situation has remained unchanged in the euro area; recalls that these figures reflect a gradual recovery, but also limited economic expansion compared to previous periods;

Or. es

Amendment 132

Markus Ferber

Motion for a resolution

Paragraph 4

Motion for a resolution	Amendment
4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the upside;	4. Notes that, according to the Commission’s autumn 2024 economic forecast, EU GDP is expected to grow by 0.9 % (0.8 % in the euro area) in 2024 and by 1.5 % (1.3 % in the euro area) in 2025; notes that the economic outlook for the EU remains highly uncertain, with risks largely tilted to the downside; stresses that the geopolitical risks, in particular, are enormous and require special attention;

Or. de

Amendment 133

Jonás Fernández

Motion for a resolution

Paragraph 4 a (new)

Motion for a resolution	Amendment
	4 a. Notes that, according to the Commission's autumn 2024 economic forecast, inflation is projected to fall from 2.6 % in 2024 to 2.4 % in 2025 and 2 % in 2026 in the EU, and from 2.4 % in 2024 to 2.1 % in 2025 and 1.9 % in 2026 in the euro area; notes that fiscal policy needs to support monetary policy in reducing inflation and safeguarding fiscal sustainability, while providing sufficient space for additional investments and supporting long-term growth; recognises the efforts of the European Central Bank (ECB) to bring the inflation rate down in the euro area;

Or. en

Amendment 134

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Jonás Fernández

Motion for a resolution

Paragraph 4 a (new)

Motion for a resolution	Amendment
	4 a. Notes that according to the Commission’s 2024 autumn economic forecast, job creation growth is expected to stabilise at more moderate rates in 2025 and 2026 (0.6% and 0.5% respectively); notes that the EU unemployment rate is expected to remain low and slightly decrease from 6.1 % in 2023 to 5.9 % in 2026; stresses that nominal wage growth is expected to increase from 4.9% in 2024 (4.3% in the euro area) to 3.5% in 2025 (3% in the euro area);

Or. en

Amendment 135

Lídia Pereira

Motion for a resolution

Paragraph 4 a (new)

Motion for a resolution	Amendment
	4 a. Considers that these levels of economic growth are significantly below the necessary to relaunch the EU's overall competitiveness, to increase investment and to preserve our European Way of Life, based on a social market economy; calls the Commission and the Member States to be coherent with the major goal of supporting EU's competitiveness and implement the necessary reforms to fulfil this objective.

Or. en

Amendment 136

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 4 a (new)

Motion for a resolution	Amendment
	4 a. Is concerned that, according to the Commission's 2024 autumn forecast, investment in the EU is projected to contract by 1.6% in 2024; calls on the Commission to propose measures to improve the business environment and legal certainty to increase investment;

Or. en

Amendment 137

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 4 b (new)

Motion for a resolution	Amendment
	4 b. Regrets that in 2023, 94.6 million people (21.4 % of the population) were at risk of poverty or social exclusion in the EU; stresses that further efforts are needed to promote adequate wages and quality jobs as the risk of poverty remains only marginally lower than in 2019 and financial distress of workers remains high after increasing during the energy crisis, for both the lowest and the lower middle-income households;

Or. en

Amendment 138

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 5

Motion for a resolution	Amendment
5. Stresses that high debt levels undermine economic stability and the capacity to respond to crises; is concerned that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);	5. Notes that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);

Or. en

Amendment 139

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 5

Motion for a resolution	Amendment
5. Stresses that high debt levels undermine economic stability and the capacity to respond to crises; is concerned that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);	5. Notes that high debt levels undermine the capacity to respond to crises; notices that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);

Or. en

Amendment 140

Thomas Bajada

Motion for a resolution

Paragraph 5

Motion for a resolution	Amendment
5. Stresses that high debt levels undermine economic stability and the capacity to respond to crises; is concerned that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);	5. Stresses that high debt levels might undermine economic stability and, in certain scenarios, the capacity to respond to crises; notes, with a certain level of concern, that the EU average public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);

Or. en

Amendment 141

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 5

Motion for a resolution	Amendment
5. Stresses that high debt levels undermine economic stability and the capacity to respond to crises; is concerned that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);	5. Stresses that high debt levels undermine economic stability and the capacity to respond to crises; is concerned that the public debt ratio is projected to increase in 2025 (to 83.0 % in the EU and 89.6 % in the euro area) and in 2026 (to 83.4% in the EU and 90% in the euro area), up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area); is concerned that general government debt is projected to increase in the Euro area from pre-pandemic levels from 83.6% in 2019 to 90% in 2026 and in the EU from 77.4% in 2019 to 83.4% in 2026, when the output gap will be at 0% of potential GDP in the Euro area and -0.1% of potential GDP in the EU; highlights that countries with higher deficits are expected to see rising debt-to-GDP ratios; regrets that eleven euro area Member States would still have debt ratios above 60%, with five remaining above 100%;

Or. en

Amendment 142

Dirk Gotink

Motion for a resolution

Paragraph 5

Motion for a resolution	Amendment
5. Stresses that high debt levels undermine economic stability and the capacity to respond to crises; is concerned that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);	5. Stresses that high debt levels undermine economic stability, also in the wider Euro area, and the capacity to respond to crises; is concerned that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area); notes that recent events have illustrated how high debt levels can contribute to significantly increasing Member States’ costs of borrowing on financial markets; stresses that persistent high debt levels increase the chance of a new debt crisis and form a substantial risk for financial stability;

Or. en

Amendment 143

Markus Ferber

Motion for a resolution

Paragraph 5

Motion for a resolution	Amendment
5. Stresses that high debt levels undermine economic stability and the capacity to respond to crises; is concerned that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);	5. Stresses that high debt levels undermine economic stability and the capacity to respond to crises; is concerned that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area); stresses that debt levels have been well above the reference values, as laid down in the European Treaties, for quite some time;

Or. de

Amendment 144

Lídia Pereira

Motion for a resolution

Paragraph 5

Motion for a resolution	Amendment
5. Stresses that high debt levels undermine economic stability and the capacity to respond to crises; is concerned that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area);	5. Stresses that high debt levels undermine economic stability, intergenerational fairness and the capacity to respond to crises; is concerned that the public debt ratio is projected to increase (to 83.0 % in the EU and 89.6 % in the euro area) in 2025, up from the levels in 2024 (82.4 % for the EU and 89.1 % for the euro area), although some Member States are pursuing an important path towards sustainable debt reduction;

Or. en

Amendment 145

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 5 a (new)

Motion for a resolution	Amendment
	5a. Recalls that developments in public debt ratios vary from country to country, and the projections point to an increase of more than 1 percentage point in the debt-to-GDP ratios of 16 Member States between 2023 and 2026; points out that by 2026 most EU countries are expected to have lower debt-to-GDP ratios than in 2020; deplores the fact that Belgium, Greece, Spain, France and Italy will have debt ratios of above 100% of GDP by the end of the forecast horizon; recalls the need to demand fiscal responsibility, respect fiscal competitiveness between states, advocate for market discipline, strengthen the principles of the Stability and Growth Pact, avoid excessive debt growth, uncouple bank and sovereign risks and encourage public-private partnerships;

Or. es

Amendment 146

Jonás Fernández

Motion for a resolution

Paragraph 5 a (new)

Motion for a resolution	Amendment
	5 a. Notes that, according to the Commission’s 2024 autumn economic forecast, the general government deficit in the EU and the euro area is expected to decline to 3.1 % and 3% of GDP, respectively, in 2024, and to further decrease to 3 % and 2.9% of GDP in 2025, and 2.9 % and 2.8% of GDP in 2026;

Or. en

Amendment 147

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 5 b (new)

Motion for a resolution	Amendment
	5b. Stresses that 10 EU Member States are expected to post a deficit of more than 3% of GDP in 2024; points out that this number will remain stable in 2025 and that in 2026 most Member States are forecast to have budgetary positions clearly lower than in 2019, with nine of them still posting deficits of above 3%;

Or. es

Amendment 148

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 6

Motion for a resolution	Amendment
6. Regrets the fact that eight Member States have excessive deficits and welcomes remedial action;	6. Notes the fact that eight Member States have excessive deficits; stresses that remedial action should be carefully calibrated to avoid negative impact on vulnerable households and preserve Member States capacity to make the necessary investments for a just transition;

Or. en

Amendment 149

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 6

Motion for a resolution	Amendment
6. Regrets the fact that eight Member States have excessive deficits and welcomes remedial action;	6. Notices that eight Member States have excessive deficits and that remedial action has been taken;

Or. en

Amendment 150

Thomas Bajada

Motion for a resolution

Paragraph 6

Motion for a resolution	Amendment
6. Regrets the fact that eight Member States have excessive deficits and welcomes remedial action;	6. Notes that eight Member States have excessive deficits and welcomes remedial action that would not result in a negative socioeconomic impact ;

Or. en

Amendment 151

Enikő Győri, Auke Zijlstra, Pierre Pimpie

Motion for a resolution

Paragraph 6

Motion for a resolution	Amendment
6. Regrets the fact that eight Member States have excessive deficits and welcomes remedial action;	6. Notes that eight Member States have excessive deficits; recalls the importance of equal treatment of the Member States in this regard;

Or. en

Amendment 152

Markus Ferber

Motion for a resolution

Paragraph 6

Motion for a resolution	Amendment
6. Regrets the fact that eight Member States have excessive deficits and welcomes remedial action;	6. Regrets the fact that eight Member States have excessive deficits and calls on the Member States to take urgent remedial action;

Or. de

Amendment 153

Dirk Gotink

Motion for a resolution

Paragraph 6

Motion for a resolution	Amendment
6. Regrets the fact that eight Member States have excessive deficits and welcomes remedial action;	6. Regrets the fact that eight Member States have excessive deficits and welcomes remedial action; is concerned that the ability for remedial action is obstructed by policy and political uncertainty in Member States;

Or. en

Amendment 154

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 6 a (new)

Motion for a resolution	Amendment
	6a. Points out that growth in the EU is expected to rise to up to 1.5% in 2025 driven by rising consumption and to 1.3% in the euro area, followed by 1.8% in the EU and 1.6% in the euro area in 2026; recalls that in the second half of the year the European Union and the euro area grew by 0.3%, despite the cooling seen in large economies; adds that this means a slower recovery than anticipated and underlines the economic difficulties Europe is experiencing;

Or. es

Amendment 155

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 6 a (new)

Motion for a resolution	Amendment
	6 a. Notes that the European Commission has not been able to present the Annual Sustainable Growth Survey, the Alert Mechanism Report, the draft euro area recommendation and the draft Joint Employment Report at the same time; therefore, questions whether these elements are taken into account in the Commission's recommendations on medium-term fiscal and structural plans;

Or. en

Amendment 156

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 b (new)

Motion for a resolution	Amendment
	6b. Stresses that the process of disinflation is continuing despite the slight upturns seen in October, with headline inflation in the euro area expected to more than halve in 2024, from 5.4 % in 2023 to 2.4 %, before declining more gradually to 2.1 % in 2025 and 1.9 % in 2026; points out that the disinflation process in the EU is expected to be even more pronounced in 2024, with headline inflation falling to 2.6 % from 6.4 % in 2023, continuing to fall to 2.4 % in 2025 and 2.0 % in 2026; recalls that although this reduction is a positive development, core inflation remains at relatively high levels, something that points to persistent inflationary pressures in certain sectors; encourages the European Central Bank (ECB) to keep its mandate on data-based decisions to maintain the price stability;

Or. es

Amendment 157

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 c (new)

Motion for a resolution	Amendment
	6c. Recalls that on 16 December 2024 the European Central Bank cut interest rates for the fourth time this year, to 3%; points out that rates are expected to fall further to around 2% in 2025, 60 basis points below the forecast made in spring, and to remain stable at around that level for the rest of the forecast horizon;

Or. es

Amendment 158

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 d (new)

Motion for a resolution	Amendment
	6d. Points out that household income has continued to rise healthily in the first half of the year, buoyed by employment growth and the recovery of real wages; deplores the fact that by the middle of the year the purchasing power of wages had only recouped about half of the losses caused by high inflation;

Or. es

Amendment 159

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 e (new)

Motion for a resolution	Amendment
	6e. Welcomes the fact that in the second quarter of 2024 the household savings rate stood at 14.8%, above expectations and more than 3 percentage points higher than its long-term pre-pandemic average;

Or. es

Amendment 160

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 f (new)

Motion for a resolution	Amendment
	6f. Deplores the fact that investment levels contracted by more than 2.5% in the first half of 2024; notes that more than half of the contraction was due to one-off transactions in intellectual property products, potentially signifying a decline in industrial output; deplores the fact that this contraction has been seen in all asset classes recalls that if we wish to improve matters then the Commission must cut bureaucracy, review rules, reduce the tax burden, support businesses, especially SMEs, boost venture capital, retail investment and entrepreneurship and improve the EU's productivity;

Or. es

Amendment 161

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 g (new)

Motion for a resolution	Amendment
	6g. Stresses that EU housing markets recovered in the first half of 2024, with almost all EU countries recording positive growth rates, and that in the second quarter of 2024, EU house prices were 2.9 % above their level the previous year (1.3 % in the euro area), following quarter-on-quarter growth of 0.6 % and 1.9 % in the first and second quarter of 2024 respectively. deplores the fact that in the first half of 2024, house prices fell (relative to their level in the fourth quarter of 2023) only in Finland and France, while they rose in all other Member States, and by more than 5 % in Bulgaria, Spain, Croatia, Hungary, Lithuania, Latvia and Poland;

Or. es

Amendment 162

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 h (new)

Motion for a resolution	Amendment
	6h. Points out that the first half of the year saw a 0.5% increase in exports of goods and services, while import growth slowed considerably; stresses the need for the EU to remove all barriers to the development of free trade;

Or. es

Amendment 163

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 i (new)

Motion for a resolution	Amendment
	6i. Recalls that bank lending in the euro area is beginning to bounce back; notes that net lending is expanding again, but remains weak in nominal terms with an uptick in demand for mortgages and a loosening of credit standards; stresses that credit approval conditions for companies have not yet started to ease, but in the last quarter they stopped tightening, heralding a change in credit flows; calls on the Commission to strengthen the Capital Markets Union and Banking Union in this new term in office with a view to improving access to finance and reducing heavy reliance on bank credit;

Or. es

Amendment 164

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 j (new)

Motion for a resolution	Amendment
	6j. Points out that the labour market remained stable in the first half of 2024; stresses that the economy continues to create jobs – for 750 000 workers – bringing the number of people employed since the start of the pandemic to 8 million;

Or. es

Amendment 165

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 k (new)

Motion for a resolution	Amendment
	6k. Deplores that the pace of employment growth has slowed down and the fact that the employment intensity of growth seems to be gradually reverting to normal levels; stresses that the unemployment rate is expected to continue to fall, to reach 5.9% in the EU and 6.3% in the euro area in 2026; points out that some countries such as Greece and Spain have a labour market with high unemployment and few job vacancies, while other countries such as the Netherlands, Austria, Belgium, Czechia and Germany enjoy low unemployment and have ample job vacancies; deplores the fact that youth unemployment remains so high, especially in countries such as Spain, which has 26.7% youth unemployment;

Or. es

Amendment 166

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 l (new)

Motion for a resolution	Amendment
	6l. Points out that wages in the EU are expected to grow by 4.9% in 2024, declining sharply to 2.5% and 3% in 2025 and 2026;

Or. es

Amendment 167

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 6 m (new)

Motion for a resolution	Amendment
	6m. Deplores the fact that the previous Commission's green agenda has meant significantly increased costs for Europe's companies, especially in industrial sectors and for SMEs; recalls that the price of carbon in the Emissions Trading Scheme (ETS) exceeded EUR 100 per tonne in 2023, compared to EUR 25 in 2020, impacting industries such as steelworking and cement; adds that, according to the European Investment Bank (EIB), 66% of SMEs see the green transition as a challenge owing to a lack of financing options and high adaptation costs; adds that the energy transition has come at a time when energy costs for European industry are surging by 40% in the wake of the 2022 crisis, and sectors such as automotive are experiencing 40% higher production costs owing to electric vehicle regulations; calls on the Commission to guarantee that the green transition does not incur excessive costs for businesses, ensuring that the Green Deal does not create market distortions; points out that the Commission should prioritise competitiveness and boost the development of renewable energies with fiscal incentives rather than subsidies;

Or. es

Amendment 168

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 7

Motion for a resolution	Amendment
7. Notes that the Commission’s 2024 Alert Mechanism Report identifies macroeconomic imbalances in 12 Member States;	7. Notes that, according to the Commission’s 2025 Alert Mechanism Report, in-depth Reviews (IDRs) will be prepared in 2025 for the nine countries that were identified as experiencing imbalances or excessive imbalances in 2024 while another IDR should be undertaken for another Member State, as it presents particular risks of newly emerging imbalances;

Or. en

Amendment 169

Markus Ferber

Motion for a resolution

Paragraph 7

Motion for a resolution	Amendment
7. Notes that the Commission’s 2024 Alert Mechanism Report identifies macroeconomic imbalances in 12 Member States;	7. Notes that the Commission’s 2025 Alert Mechanism Report identifies macroeconomic imbalances in nine Member States;

Or. de

Amendment 170

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 7

Motion for a resolution	Amendment
7. Notes that the Commission’s 2024 Alert Mechanism Report identifies macroeconomic imbalances in 12 Member States;	7. Deplores that the Commission’s 2024 Alert Mechanism Report identifies macroeconomic imbalances in 12 Member States;

Or. es

Amendment 171

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Subheading 2

Motion for a resolution	Amendment
Revised EU economic governance framework and its effective enforcement	Revised EU economic governance framework and its sustainable implementation

Or. en

Amendment 172

Carla Tavares

Motion for a resolution

Subheading 2

Motion for a resolution	Amendment
Revised EU economic governance framework and its effective enforcement	Revised EU economic governance framework

Or. en

Amendment 173

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 8

Motion for a resolution	Amendment
8. Recalls that the reform aims to make the framework simpler, more transparent and effective, with greater national ownership and better enforcement; recalls, furthermore, that it aims to strengthen fiscal sustainability through gradual and tailor-made adjustments complemented by reforms and investments and to promote countercyclical fiscal policies;	8. Regrets that the reform will impose to Member States cutting spending and investments at a time when the EU economy most needs them; recalls the need to promote countercyclical fiscal policies; calls for another reform of the EU economic governance framework that promotes debt sustainability over debt reduction and turn our resources toward more pressing policy priorities notably the green transition, social spending and the war in Ukraine; calls for a better inclusion of social consideration within the EU semester, including by assessing the impact of public policy on the 10% poorest;

Or. en

Amendment 174

Pierre Pimpie

Motion for a resolution

Paragraph 8

Motion for a resolution	Amendment
8. Recalls that the reform aims to make the framework simpler, more transparent and effective, with greater national ownership and better enforcement; recalls, furthermore, that it aims to strengthen fiscal sustainability through gradual and tailor-made adjustments complemented by reforms and investments and to promote countercyclical fiscal policies;	8. Recalls that the reform aims to make the framework simpler, more transparent and effective, while fully respecting the fiscal sovereignty of the Member States; stresses that fiscal sustainability must be guaranteed through realistic adjustments, taking account of strategic investment needs and national specificities, while ensuring that EU-wide policies are not counter-productive;

Or. fr

Amendment 175

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 8

Motion for a resolution	Amendment
8. Recalls that the reform aims to make the framework simpler, more transparent and effective, with greater national ownership and better enforcement; recalls, furthermore, that it aims to strengthen fiscal sustainability through gradual and tailor-made adjustments complemented by reforms and investments and to promote countercyclical fiscal policies;	8. Recalls that the reform is intended to make the framework simpler, more transparent and effective, with greater national ownership and better enforcement while differentiating among Member States based on their individual fiscal situations, in view of country-specific fiscal sustainability considerations; stresses therefore that its implementation must ensure fiscal sustainability through gradual and tailor-made adjustments complemented by reforms and investments and to promote sustainable and inclusive growth, socio-economic convergence and countercyclical fiscal policies;

Or. en

Amendment 176

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 8

Motion for a resolution	Amendment
8. Recalls that the reform aims to make the framework simpler, more transparent and effective, with greater national ownership and better enforcement; recalls, furthermore, that it aims to strengthen fiscal sustainability through gradual and tailor-made adjustments complemented by reforms and investments and to promote countercyclical fiscal policies;	8. Points out that the reform aims to make the framework simpler, more transparent and effective, with greater national ownership and better enforcement; recalls, furthermore, that it aims to strengthen fiscal sustainability through gradual and tailor-made adjustments complemented by reforms and investments and to promote countercyclical fiscal policies;

Or. es

Amendment 177

Manon Aubry

Motion for a resolution

Paragraph 8 a (new)

Motion for a resolution	Amendment
	8 a. Recalls that the temporary suspension of the fiscal rules during the Covid-19 crisis demonstrated that they were not fit for situations where Member States have to cope with major economic turmoil, recalls that this suspension did not lead to further economic degradation but, to the contrary, gave Member States new room for manoeuvre, recalls further that the revised economic governance framework is still not suited to prevent and deal with future crises that the EU will eventually face, starting from the ecological crisis; underlines that if any new goals should have been agreed in the new economic governance framework, they should have reflected current economic realities and been directed towards ecological, social and well-being concerns; deplores that this is not the case;

Or. en

Amendment 178

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 8 a (new)

Motion for a resolution	Amendment
	8 a. Acknowledges that the new fiscal rules provide greater flexibility and incentives linked to investments and reforms, with public investment anticipated to rise in 2025 across most Member States; stresses that this approach draws on lessons from the financial crisis to safeguard and strengthen investment amid multiple crises while promoting counter-cyclical policies; emphasizes, however, that the financial resources and contributions from national budgets differ among Member States; highlights the crucial role of EU funds and the RRF in enabling these investments, whereas the latter will terminate in the end of 2026;

Or. en

Amendment 179

Irene Tinagli

Motion for a resolution

Paragraph 8 a (new)

Motion for a resolution	Amendment
	8 a. Highlights that debt sustainability analysis (DSA) plays a key role in the reformed EU fiscal rules; recalls that DSA is used to assess how much fiscal adjustment is required to ensure that the public debt ratio is on a plausible downward trajectory; regrets that the current methodology assumes that fiscal consolidation efforts by trading partners do not spill over into domestic economic activity, thus underestimating the effect of national fiscal policies on the other Member States and on the euro area aggregate fiscal stance; calls the Commission to explore possible methodological improvements in this regard;

Or. en

Amendment 180

Enikő Győri, Pierre Pimpie

Motion for a resolution

Paragraph 8 a (new)

Motion for a resolution	Amendment
	8 a. Welcomes that the new fiscal rules focus on reducing Member States' indebtedness by keeping the 60% debt and 3% deficit targets and that applying objective, numerical values for reaching these targets as a secondary objective;

Or. en

Amendment 181

Carla Tavares

Motion for a resolution

Paragraph 8 a (new)

Motion for a resolution	Amendment
	8 a. Recognizes that the new framework represents a step forward in ending the "one size fits all" approach and by replacing a complex set of rules with a single country-specific operational indicator: the net expenditure path;

Or. en

Amendment 182

Manon Aubry

Motion for a resolution

Paragraph 8 b (new)

Motion for a resolution	Amendment
	8 b. Recalls that fiscal rules have in the past incentivized governments of Member States to carry out fiscal adjustments detrimental to long-term investments, contributing to a drop of total public investment as share of GDP during the decade 2011-2020 following the financial crisis; stresses that public investment is crucial to guarantee a high level of citizens’ well-being, address existing and new social needs and foster the transition to a fair and sustainable economy; notes that at the scale of the EU the additional investments needed in the decarbonisation of the economy, in social infrastructures such as health, education, social housing and in the maintenance of public infrastructures amount to at least EUR 520 billion, EUR 142 billion, and EUR 190 billion per year respectively, the majority of which should come from public sources to support a fair and democratic transition; regrets that the revised economic governance framework not only fails to incentivize such public investment but also hinders them;

Or. en

Amendment 183

Irene Tinagli

Motion for a resolution

Paragraph 8 b (new)

Motion for a resolution	Amendment
	8 b. Is of the opinion that a bigger role of the Commission's debt sustainability analysis (DSA) in the fiscal rules requires full transparency, predictability, replicability and stability of these assessments; regrets that experts from the European Parliament were not included in the working group set up to explore possible methodological improvements described in the Commission’s Debt Sustainability Monitor 2023; expresses concerns that the DSA would not be able to project future debt developments with certainty; underlines that the usage of DSA still requires estimating unobservable variables, in particular potential GDP growth and output gap, thereby undermining transparency and hampering ownership and predictability, and thus leaving space for discretion; stresses that the result of a DSA may create self-fulfilling prophecies, by encouraging investors to buy/sell bonds of the respective Member States, thereby influencing outcomes;

Or. en

Amendment 184

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 8 b (new)

Motion for a resolution	Amendment
	8 b. Stresses the need for vigilance to ensure that the implementation of economic governance rules does not hamper Member States' ability to contribute to this investment effort; stresses in this regard that maintaining a high level of public investment is necessary in order to achieve the main objectives of the reform of the economic governance framework and addressing the current and future priorities of the Union; underlines, therefore, that this framework could be strengthened by a common investment instrument at Union level based on the lessons learned from the implementation of instruments such as the European instrument for temporary Support to mitigate Unemployment Risks in an Emergency (SURE) or Next Generation EU (NGEU);

Or. en

Amendment 185

Carla Tavares

Motion for a resolution

Paragraph 8 b (new)

Motion for a resolution	Amendment
	8 b. Welcomes the fact that the net expenditure indicator excludes all national co-financing in current and future Union-funded programmes, providing increased fiscal space for Member States to invest in EU common priorities and openning a broader range of policy options for the upcoming Multiannual Financial Framework (MFF) post-2027, as well as for the design of new EU instruments to address the Union's investment needs;

Or. en

Amendment 186

Carla Tavares

Motion for a resolution

Paragraph 8 c (new)

Motion for a resolution	Amendment
	8 c. Welcomes the introduction, for the first time, of a social dimension in the economic governance rules, establishing the European Pillar of Social Rights as one of the four EU common priorities within the framework and the European Semester, making social investments a priority on equal footing with digital, green, and defence objectives. Further welcomes the introduction of the “Social Convergence Framework” in the economic governance architecture, which complements and counterbalances the predominantly economic and budgetary indicators under scrutiny in the European Semester; welcomes the recognition that the European Semester also encompasses social policies;

Or. en

Amendment 187

Manon Aubry

Motion for a resolution

Paragraph 8 c (new)

Motion for a resolution	Amendment
	8 c. Recalls that failure to mitigate and adapt to climate change fast enough resulting from under-investment or delayed investments will not only have catastrophic human consequences but will also be much more costly in sheer economic terms, hence contradicting the very purpose of the fiscal rules which is to support sound public finances.

Or. en

Amendment 188

Manon Aubry

Motion for a resolution

Paragraph 8 d (new)

Motion for a resolution	Amendment
	8 d. Regrets that the revised economic governance framework fails to enhance social progress and convergence and to foster the ecological transition, reiterates that instead of focussing on irrelevant economic indicators and pursuing endless debt and deficit reduction, the EU economic governance framework should aim at eradicating poverty and inequalities, provide a high-level of social protection, qualitative public services, individual and collective well-being through the fulfilment of essential needs of all citizens; and ecological planning;

Or. en

Amendment 189

Carla Tavares

Motion for a resolution

Paragraph 8 d (new)

Motion for a resolution	Amendment
	8 d. Calls on the Commission to establish, as soon as possible, the working group on debt sustainability analysis (DSA) to develop a replicable, predictable, and transparent methodology that can be applied in the assessment of the current and future batches of medium-term fiscal-structural plans;

Or. en

Amendment 190

Carla Tavares

Motion for a resolution

Paragraph 8 e (new)

Motion for a resolution	Amendment
	8 e. Calls on the Commission and Member States to fully explore the flexibility offered by the new framework to support and enhance investment and innovation required to address the economic, social, and geopolitical challenges facing the EU.; notes that the new frmaework provides the follogin options to increase fiscal space and support investments and reforms across the EU: the exclusion of national co-financing from the net expenditure indicator, the more favourable and flexible criteria for extending plans and enabling smoother fiscal adjustments, the commitment to reforms and investments aligned with EU common priorities as a relevant factor in accepting deviations in the control account or preventing excessive deficit procedures, and the option for Member States to propose a more favourable reference trajectory if they commit to certain reforms and investments are some of the new possibilities provided by the framework;

Or. en

Amendment 191

Manon Aubry

Motion for a resolution

Paragraph 8 e (new)

Motion for a resolution	Amendment
	8 e. Believes that instead of promoting harmful budgetary cuts and structural reforms in order to reach the debt and deficit targets prescribed by the Stability and Growth Pact, the EU economic governance should favour and facilitate the collection by Member States and at EU level of additional resources through fair taxation, in particular taxes on the wealthiest and multinational companies, taxes on ecologically harmful products and services, the cancellation of ineffective and unfair tax and social contributions exemptions, the fight against tax dodging and tax evasion of rich individuals and multinational companies; highlights, for example, that the EUR 60 billion in budgetary cuts proposed by the French government for the 2025 budget exactly equate to the annual cost of tax allowances granted to wealthy individuals and multinational corporations by the French government since 2017;

Or. en

Amendment 192

Carla Tavares

Motion for a resolution

Paragraph 9

Motion for a resolution	Amendment
9. Deplores the low level of enforcement of the fiscal rules framework in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implementation;	9. Stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies on its implementation and on ensuring an appropriate level of public investment at both the national and EU levels to achieve the framework’s main objectives and address the Union's current and future priorities; to this end, a more permanent Union investment instrument should be established after the conclusion of the Recovery and Resilience Facility in 2026; calls on the Commission to initiate discussions on addressing the significant investment gap in the EU, as identified by the 'Draghi Report', and to present concrete proposals for financing solutions;

Or. en

Amendment 193

Thomas Bajada

Motion for a resolution

Paragraph 9

Motion for a resolution	Amendment
9. Deplores the low level of enforcement of the fiscal rules framework in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implementation;	9. Stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies on proper implementation;

Or. en

Amendment 194

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Paragraph 9

Motion for a resolution	Amendment
9. Deplores the low level of enforcement of the fiscal rules framework in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implementation;	9. Stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its implementation while taking into account the Member States starting points and individual challenges;

Or. en

Amendment 195

Fernand Kartheiser

Motion for a resolution

Paragraph 9

Motion for a resolution	Amendment
9. Deplores the low level of enforcement of the fiscal rules framework in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implementation;	9. Deplores the low level of enforcement of the fiscal rules framework in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; calls for rigorous enforcement of the fiscal rules to ensure credibility and equal treatment across Member States;

Or. en

Amendment 196

Markus Ferber

Motion for a resolution

Paragraph 9

Motion for a resolution	Amendment
9. Deplores the low level of enforcement of the fiscal rules framework in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implementation;	9. Deplores the low level of enforcement of the fiscal rules framework by the Commission in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implementation; calls on the Commission, in this regard, also to make use of the possibility of imposing sanctions where appropriate;

Or. de

Amendment 197

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 9

Motion for a resolution	Amendment
9. Deplores the low level of enforcement of the fiscal rules framework in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implementation;	9. Deplores the low level of enforcement of the fiscal rules framework in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implementation; calls on the Commission to rigorously implement it from the outset;

Or. en

Amendment 198

Dirk Gotink

Motion for a resolution

Paragraph 9

Motion for a resolution	Amendment
9. Deplores the low level of enforcement of the fiscal rules framework in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implementation;	9. Deplores the low level of enforcement of the fiscal rules framework in the past and uneven compliance to the rules among Member States; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implementation;

Or. en

Amendment 199

Lídia Pereira

Motion for a resolution

Paragraph 9

Motion for a resolution	Amendment
9. Deplores the low level of enforcement of the fiscal rules framework in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States; affirms that a successful and credible framework relies heavily on its rigorous implementation;	9. Deplores the low level of enforcement of the fiscal rules framework in the past; stresses that it is essential for the new framework to ensure the equal treatment of the Member States and the consideration of their concrete national situations; affirms that a successful and credible framework relies heavily on its rigorous, transparent and effective implementation;

Or. en

Amendment 200

Markus Ferber

Motion for a resolution

Paragraph 9 a (new)

Motion for a resolution	Amendment
	9a. Stresses that the political independence of the institution responsible for budgetary control is crucial for effective monitoring; calls, in this context, for the European Fiscal Board to play a stronger role in fiscal surveillance;

Or. de

Amendment 201

Pierre Pimpie

Motion for a resolution

Paragraph 10

Motion for a resolution	Amendment
10. Affirms that a renewed focus on medium-term net expenditure will require comprehensive reforms of national budgetary planning procedures across the Member States;	10. Notes the fact that the net expenditure indicator excludes expenditure on programmes of the Union fully matched by Union funds and expenditure on programmes funded by the Union; considers that this approach will contribute to strengthening the synergies between the EU budget and the national budgets of the Member States, thereby reducing fragmentation and increasing the efficiency of public spending as a whole; believes that those synergies can also be increased when extensions of the adjustment period are granted to Member States committing to a set of investments and reforms which contribute to addressing the main challenges identified in the European Semester, in particular the country-specific recommendations, and the common priorities of the Union;

Or. fr

Amendment 202

Thomas Bajada

Motion for a resolution

Paragraph 10

Motion for a resolution	Amendment
10. Affirms that a renewed focus on medium-term net expenditure will require comprehensive reforms of national budgetary planning procedures across the Member States;	10. Affirms that a renewed focus on medium-term net expenditure might imply comprehensive reforms of national budgetary planning procedures across the Member States;

Or. en

Amendment 203

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Paragraph 10

Motion for a resolution	Amendment
10. Affirms that a renewed focus on medium-term net expenditure will require comprehensive reforms of national budgetary planning procedures across the Member States;	10. Affirms that a renewed focus on medium-term net expenditure may require comprehensive reforms of national budgetary planning procedures across the Member States;

Or. en

Amendment 204

Dirk Gotink

Motion for a resolution

Paragraph 10

Motion for a resolution	Amendment
10. Affirms that a renewed focus on medium-term net expenditure will require comprehensive reforms of national budgetary planning procedures across the Member States;	10. Affirms that a renewed focus on medium-term net expenditure will require comprehensive reforms of national budgetary planning procedures across the Member States; recalls that the review of the economic governance framework had as an overall objective to reduce debt ratios and deficits in a gradual, realistic, sustained and growth-friendly manner; emphasizes that fiscal consolidation is crucial for the cohesion of the EU;

Or. en

Amendment 205

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 10

Motion for a resolution	Amendment
10. Affirms that a renewed focus on medium-term net expenditure will require comprehensive reforms of national budgetary planning procedures across the Member States;	10. Affirms that a renewed focus on medium-term net expenditure will require comprehensive reforms of national budgetary planning procedures across the Member States; encourages Member States to adapt their national fiscal stability rules to the new EU fiscal rules;

Or. en

Amendment 206

Markus Ferber

Motion for a resolution

Paragraph 10

Motion for a resolution	Amendment
10. Affirms that a renewed focus on medium-term net expenditure will require comprehensive reforms of national budgetary planning procedures across the Member States;	10. Affirms that a renewed focus on medium-term net expenditure as a key governance indicator will require comprehensive reforms of national budgetary planning procedures across the Member States;

Or. de

Amendment 207

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 10 a (new)

Motion for a resolution	Amendment
	10 a. Takes note of the mission letters of Commissioner Dombrovskis and Executive Vice-President Séjourné that include the development of a Competitiveness coordination tool; expects the Commission to clarify how this tool will interact with the European Semester; urges the Commission to adopt a long-term perspective when defining competitiveness which includes long-term sustainability and ensuring an economic development within our planet boundaries;

Or. en

Amendment 208

Irene Tinagli

Motion for a resolution

Paragraph 10 a (new)

Motion for a resolution	Amendment
	10 a. Stresses that when defining fiscal strategies, Member States should aim to improve the quality and efficiency of expenditure and revenues measures, in particular by reducing tax avoidance and tax evasion; invites Member States to align their strategies with EU policy objectives, such as redirecting the tax burden from income to less distortive tax bases;

Or. en

Amendment 209

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 10 a (new)

Motion for a resolution	Amendment
	10 a. Calls, furthermore, on the Commission to take into account the concept of social investment in its analyses of the EU economic outlook; recalls indeed that social investment policies can have significant positive effects on economic growth, productivity and competitiveness, thus also supporting fiscal sustainability while fostering upward social convergence;

Or. en

Amendment 210

Jonás Fernández

Motion for a resolution

Paragraph 10 a (new)

Motion for a resolution	Amendment
	10 a. Calls on the Member States in the euro area to explore all means to complete the revision of the European Stability Mechanism Treaty to allow for the introduction of the common backstop to the Single Resolution Fund, which would further strengthen the euro area’s resilience;

Or. en

Amendment 211

Enikő Győri, Auke Zijlstra, Pierre Pimpie

Motion for a resolution

Paragraph 10 a (new)

Motion for a resolution	Amendment
	10 a. Recalls that the original objective of the European Semester was the coordination of budgetary and economic policies across the Union, thereby safeguarding its macroeconomic stability and ensuring sound public finances in all Member States;

Or. en

Amendment 212

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 10 b (new)

Motion for a resolution	Amendment
	10 b. Emphasises the role of the European Parliament in the EU’s economic governance framework and advocates for an increased engagement of the European Parliament in the European Semester; stresses the need for all Member States to be treated equally; underlines that an increase in discretionary power for the Commission in the development process of the medium-term fiscal-structural plans must be accompanied by increased accountability and an increase in the flow of information towards the European Parliament; recognises that the Economic Dialogue as part of the European Semester lays a useful foundation of accountability;

Or. en

Amendment 213

Enikő Győri, Auke Zijlstra, Pierre Pimpie

Motion for a resolution

Paragraph 10 b (new)

Motion for a resolution	Amendment
	10 b. Expresses its concerns that the economic governance framework as a whole has lost its focus on economic policy; regrets the fact that over the years, including the latest reform of the framework, the European Semester has become an overly complex set of rules interfering in Member State's competences and putting the earlier established level playing field under severe strain;

Or. en

Amendment 214

Enikő Győri, Auke Zijlstra, Pierre Pimpie

Motion for a resolution

Paragraph 10 c (new)

Motion for a resolution	Amendment
	10 c. Notes that according to the new rules the European Parliament may invite Member States under an Excessive Deficit Procedure (EDP) to participate in an exchange of views; believes that it should not oversee and question Member States’ budgetary plans; reminds that this is a clear and sole competence of national parliaments;

Or. en

Amendment 215

Carla Tavares

Motion for a resolution

Paragraph 11

Motion for a resolution	Amendment
11. Regrets that not all Member States were able to submit their national medium-term fiscal-structural and draft budgetary plans on time; underlines that this constitutes a major setback for the effective implementation of the new rules and their credibility; reaffirms the importance of the timely submission of draft budgetary plans to translate commitments outlined in fiscal plans into concrete policies;	11. Notes that for the first batch of national medium-term fiscal-structural plans, not all Member States were able to submit their national medium-term fiscal-structural and draft budgetary plans on time, due to general elections and the formation of new governments; notes that the first batch of plans was submitted under a stricter timeline than the usual European Semester timeline, with 22 national plans submitted with only less than a month's delay; recalls that Member States and the Commission can agree to extend the submission deadline of a plan by a reasonable period;

Or. en

Amendment 216

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Jonás Fernández

Motion for a resolution

Paragraph 11

Motion for a resolution	Amendment
11. Regrets that not all Member States were able to submit their national medium-term fiscal-structural and draft budgetary plans on time; underlines that this constitutes a major setback for the effective implementation of the new rules and their credibility; reaffirms the importance of the timely submission of draft budgetary plans to translate commitments outlined in fiscal plans into concrete policies;	11. Notes that not all Member States were able to submit their national medium-term fiscal-structural and draft budgetary plans on time due to general elections and the formation of new governments ; reaffirms the importance of the timely submission of draft budgetary plans to translate commitments outlined in fiscal plans into concrete policies;

Or. en

Amendment 217

Thomas Bajada

Motion for a resolution

Paragraph 11

Motion for a resolution	Amendment
11. Regrets that not all Member States were able to submit their national medium-term fiscal-structural and draft budgetary plans on time; underlines that this constitutes a major setback for the effective implementation of the new rules and their credibility; reaffirms the importance of the timely submission of draft budgetary plans to translate commitments outlined in fiscal plans into concrete policies;	11. Notes that not all Member States were able to submit their national medium-term fiscal-structural and draft budgetary plans on time; underlines that this demonstrates limitations of the agreed new rules, their effective implementation, and their credibility; reaffirms the importance of a timely submission of draft budgetary plans to translate commitments outlined in fiscal plans into concrete policies;

Or. en

Amendment 218

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 11

Motion for a resolution	Amendment
11. Regrets that not all Member States were able to submit their national medium-term fiscal-structural and draft budgetary plans on time; underlines that this constitutes a major setback for the effective implementation of the new rules and their credibility; reaffirms the importance of the timely submission of draft budgetary plans to translate commitments outlined in fiscal plans into concrete policies;	11. Regrets that not all Member States were able to submit their national medium-term fiscal-structural and draft budgetary plans on time; underlines that this constitutes a setback for the effective implementation of the new rules and their credibility; reaffirms the importance of the timely submission of draft budgetary plans to translate commitments outlined in fiscal plans into concrete policies;

Or. en

Amendment 219

Manon Aubry

Motion for a resolution

Paragraph 11 a (new)

Motion for a resolution	Amendment
	11 a. Notes that the debt sustainability analysis (DSA) underpinning the trajectory that serves as a reference for the elaboration of national medium-term fiscal-structural plans and budgetary plans is dependent on arbitrary assumptions over 14 to 17 years in the future and relies on an outdated macroeconomic model that does not acknowledge the embeddedness of economic activities in the biosphere, and therefore does not take into account their increasing exposure to climate change, resource scarcity, environmental degradation and natural disasters in the future; considers that this highly problematic feature of the DSA will lead to misguided perceptions of economic risks and misguided economic projections that will in turn influence the whole economic governance;

Or. en

Amendment 220

Carla Tavares

Motion for a resolution

Paragraph 11 a (new)

Motion for a resolution	Amendment
	11 a. Recalls that the reforms and investments outlined in the national medium-term fiscal-structural plans should align with the Union's common priorities, which include: achieving a fair green and digital transition, ensuring consistency with the climate objectives set out in Regulation (EU) 2021/1119; fostering social and economic resilience, including the European Pillar of Social Rights; enhancing energy security; and, where necessary, strengthening defence capabilities; emphasizes that, under the new framework, the Commission should pay particular attention to these priorities in its assessment of the national medium-term fiscal-structural plans;

Or. en

Amendment 221

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 11 a (new)

Motion for a resolution	Amendment
	11 a. Acknowledges the positive evaluation of 20 out of the 21 national medium-term fiscal-structural plans reviewed; calls on the Member States that have not yet submitted their Draft Budgetary Plans, especially those not engaged in electoral processes or new government formation, to do so as soon as possible; notes that in five Member States, significant and unjustified deviations are observed in macroeconomic assumptions related to potential GDP and/or the GDP deflator; regrets that such deviations might impact the annual expenditure growth ceiling and lead to backloading;

Or. en

Amendment 222

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 11 a (new)

Motion for a resolution	Amendment
	11a. Deplores the fact that some countries have submitted reformed fiscal plans to the European Commission without having debated them in national parliaments or consulted stakeholders; recalls that this is a breach of Regulation (EU) 2024/1263 on the effective coordination of economic policies and on multilateral budgetary surveillance; calls on the Commission to comply with the Regulation and respect the sovereignty of these countries' people;

Or. es

Amendment 223

Manon Aubry

Motion for a resolution

Paragraph 11 b (new)

Motion for a resolution	Amendment
	11 b. Recalls that debt sustainability depends on many factors beyond the mere quantitative debt-to-GDP ratio and that financial markets are less concerned by the debt stock than the overall resilience and strength of a country’s economy, is of the opinion that anticipation of negative reactions from financial markets to high debt ratios should not be used to legitimate the perpetuation of arbitrary debt targets and their usual corollary : budget cuts, under-financing of public services and unfair structural reforms weakening social protection and workers' rights ;

Or. en

Amendment 224

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 11 b (new)

Motion for a resolution	Amendment
	11b. Deplores the fact that some of the medium-term fiscal-structural plans submitted backload the effort to the last four years (2028-2031); recalls that structural plans have to present realistic and consistent efforts over a long period of time, thus avoiding compromising future sustainability;

Or. es

Amendment 225

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 11 c (new)

Motion for a resolution	Amendment
	11c. Points out that some countries have yet to approve their national budgetary plans; recalls that national budget plans must be approved in a manner in accordance with the countries' fiscal reforms in order to be able to ascertain whether fiscal policies are in line with the recommendations; calls on the Commission to continue to ask these countries to submit their national budgetary plans;

Or. es

Amendment 226

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 12

Motion for a resolution	Amendment
12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;	12. Notes that 18 Member States have proposed deviations from the reference trajectory put forward by the Commission to frame the dialogue with Member States, resulting, in some cases, in higher average expenditure path1a that were assessed by the Commission and considered duly justified; welcomes the flexibility of the new framework that allows Member States to deviate from the medium-term government debt projection framework if these differences are explained and duly justified in a transparent manner and based on sound economic arguments in the technical dialogue and in their national medium-term fiscal-structural plans; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States fulfill this criteria; calls on the Commission to prevent procyclical policies;
	_________________
	1a Adequate wording Art. 2(3) of REGULATION (EU) 2024/1263 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 29 April 2024 on the effective coordination of economic policies and on multilateral budgetary surveillance and repealing Council Regulation (EC) No 1466/97

Or. en

Amendment 227

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 12

Motion for a resolution	Amendment
12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;	12. Notes that Member States proposed deviations from the expenditure path determined by the Commission, resulting, in 11 cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven properly monitor discrepancies on assumptions along the adjustment period;

Or. en

Amendment 228

Thomas Bajada

Motion for a resolution

Paragraph 12

Motion for a resolution	Amendment
12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;	12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; notes that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven;

Or. en

Amendment 229

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 12

Motion for a resolution	Amendment
12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;	12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; calls on the Commission to prevent procyclical policies;

Or. en

Amendment 230

Enikő Győri, Auke Zijlstra, Pierre Pimpie

Motion for a resolution

Paragraph 12

Motion for a resolution	Amendment
12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;	12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure - through appropriate dialogue with the Member States while respecting their competencies - that economic arguments underpinning the new paths are sound and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;

Or. en

Amendment 231

Lídia Pereira

Motion for a resolution

Paragraph 12

Motion for a resolution	Amendment
12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;	12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are often justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; observes that some Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to cooperate and coordinate with Member States to prevent procyclical policies;

Or. en

Amendment 232

Fernand Kartheiser

Motion for a resolution

Paragraph 12

Motion for a resolution	Amendment
12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;	12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to establish a formal framework to align economic assumptions across Member States to the extent possible; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;

Or. en

Amendment 233

Markus Ferber

Motion for a resolution

Paragraph 12

Motion for a resolution	Amendment
12. Notes that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are sound and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth; calls on the Commission to prevent procyclical policies;	12. Notes with regret that 18 Member States have proposed deviations from the expenditure path determined by the Commission, resulting, in some cases, in higher average expenditure growth; laments the fact that these deviations are justified on the basis of significant discrepancies between Member States’ economic assumptions and those of the Commission; calls on the Commission to ensure that economic arguments underpinning the new paths proposed by Member States are robust and data-driven; regrets that Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower GDP growth and potentially jeopardizing the objective of budgetary consolidation as a whole; calls on the Commission to prevent procyclical policies and to push for an ambitious approach to expenditure resulting in a tangible reduction of the high public debt;

Or. de

Amendment 234

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 12 a (new)

Motion for a resolution	Amendment
	12 a. Regrets that some Member States are delaying their fiscal adjustments to the end of the period, coinciding with slower projected GDP potential growth; notes that in three Member States, the Commission acknowledges a concentration of fiscal adjustment towards the end of the period; calls on the Commission to ensure that such concentration of the adjustment only takes place under the requirements set on the regulation and to prevent pro-cyclical policies;

Or. en

Amendment 235

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Evelyn Regner

Motion for a resolution

Paragraph 13

Motion for a resolution	Amendment
13. Laments the fact that only seven Member States have sought an opinion from their relevant independent fiscal institution; regrets that nine Member States did not meet their obligation to conduct political consultations with regional authorities and relevant stakeholders prior to submitting their national plans; further laments the fact that several Member States have not involved their national parliaments in the approval process for the plans and have not reported whether the required consultations with national parliaments took place;	13. Notes the fact that only seven Member States received an opinion from their relevant independent fiscal institution; regrets that nine Member States did not meet their obligation to conduct political consultations with civil society, social partners, regional authorities and other relevant stakeholders prior to submitting their national plans; further regrets the fact that several Member States have not involved their national parliaments in the approval process for the plans and have not reported whether the required consultations with national parliaments took place;

Or. en

Amendment 236

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 13

Motion for a resolution	Amendment
13. Laments the fact that only seven Member States have sought an opinion from their relevant independent fiscal institution; regrets that nine Member States did not meet their obligation to conduct political consultations with regional authorities and relevant stakeholders prior to submitting their national plans; further laments the fact that several Member States have not involved their national parliaments in the approval process for the plans and have not reported whether the required consultations with national parliaments took place;	13. Laments the fact that only seven Member States have sought an opinion from their relevant independent fiscal institution; notes with concern that some independent fiscal institutions provided a negative opinion of the fiscal plan after its submission to the Commission for approval; regrets that nine Member States did not meet their obligation to conduct political consultations with regional authorities and relevant stakeholders prior to submitting their national plans; further laments the fact that ten Member States have not involved their national parliaments in the approval process for the plans and have not reported whether the required consultations with national parliaments took place; recalls the requirement that Member States have to report in their plans whether political consultations took place;

Or. en

Amendment 237

Markus Ferber

Motion for a resolution

Paragraph 13

Motion for a resolution	Amendment
13. Laments the fact that only seven Member States have sought an opinion from their relevant independent fiscal institution; regrets that nine Member States did not meet their obligation to conduct political consultations with regional authorities and relevant stakeholders prior to submitting their national plans; further laments the fact that several Member States have not involved their national parliaments in the approval process for the plans and have not reported whether the required consultations with national parliaments took place;	13. Laments the fact that only seven Member States have sought an opinion from their relevant independent fiscal institution; stresses that the opinions of independent fiscal institutions represent an important additional perspective; regrets that nine Member States did not meet their obligation to conduct political consultations with regional authorities and relevant stakeholders prior to submitting their national plans; further laments the fact that several Member States have not involved their national parliaments in the approval process for the plans and have not reported whether the required consultations with national parliaments took place;

Or. de

Amendment 238

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 14

Motion for a resolution	Amendment
14. Observes that five Member States have requested an extension of the adjustment period; notes that the reforms and investments used to justify this extension rely heavily on reforms already approved under the Recovery and Resilience Facility; believes that some of these reforms do not sufficiently meet the requirement to demonstrate their contribution to potential GDP growth;	14. Observes that five Member States have requested an extension of the adjustment period, based on a set of investment and reform commitments that contribute to sustainable and inclusive growth, enhance resilience, support fiscal sustainability, and address the key challenges identified in the European Semester, particularly in the Country-Specific Recommendations and the Union's common priorities, and have been assessed as meeting the conditions outlined in the Regulation for such an extension; notes that the reforms and investments used to justify this extension are underpinned and complemented by reforms approved under the Recovery and Resilience Facility;

Or. en

Amendment 239

Carla Tavares

Motion for a resolution

Paragraph 14

Motion for a resolution	Amendment
14. Observes that five Member States have requested an extension of the adjustment period; notes that the reforms and investments used to justify this extension rely heavily on reforms already approved under the Recovery and Resilience Facility; believes that some of these reforms do not sufficiently meet the requirement to demonstrate their contribution to potential GDP growth;	14. Observes that five Member States have requested an extension of the adjustment period; notes that some of the reforms and investments used to justify this extension rely on reforms already approved under the Recovery and Resilience Facility, as permitted by the new fiscal rules;

Or. en

Amendment 240

Thomas Bajada

Motion for a resolution

Paragraph 14

Motion for a resolution	Amendment
14. Observes that five Member States have requested an extension of the adjustment period; notes that the reforms and investments used to justify this extension rely heavily on reforms already approved under the Recovery and Resilience Facility; believes that some of these reforms do not sufficiently meet the requirement to demonstrate their contribution to potential GDP growth;	14. Observes that five Member States have requested an extension of the adjustment period; notes that the reforms and investments used to justify this extension rely heavily on reforms already approved under the Recovery and Resilience Facility; questions if these reforms sufficiently meet the requirement to demonstrate their contribution to potential GDP growth as well as the well-being and sustainability of the relevant communities;

Or. en

Amendment 241

Markus Ferber

Motion for a resolution

Paragraph 14

Motion for a resolution	Amendment
14. Observes that five Member States have requested an extension of the adjustment period; notes that the reforms and investments used to justify this extension rely heavily on reforms already approved under the Recovery and Resilience Facility; believes that some of these reforms do not sufficiently meet the requirement to demonstrate their contribution to potential GDP growth;	14. Observes that five Member States have requested an extension of the adjustment period; notes that the reforms and investments used to justify this extension rely heavily on reforms already approved under the Recovery and Resilience Facility; believes that some of these reforms do not sufficiently meet the requirement to demonstrate their contribution to potential GDP growth; stresses that an extension of the adjustment period should only be approved in duly justified exceptional cases and upon presentation of an ambitious reform programme;

Or. de

Amendment 242

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 14

Motion for a resolution	Amendment
14. Observes that five Member States have requested an extension of the adjustment period; notes that the reforms and investments used to justify this extension rely heavily on reforms already approved under the Recovery and Resilience Facility; believes that some of these reforms do not sufficiently meet the requirement to demonstrate their contribution to potential GDP growth;	14. Observes that five Member States have requested an extension of the adjustment period; notes that the reforms and investments used to justify this extension rely heavily on reforms already approved under the Recovery and Resilience Facility; believes that some of these reforms do not sufficiently meet the requirement to demonstrate their contribution to potential GDP growth; calls on the Commission to effectively evaluate the impact of agreed investments and reforms on fiscal sustainability and growth;

Or. en

Amendment 243

Manon Aubry

Motion for a resolution

Paragraph 14 a (new)

Motion for a resolution	Amendment
	14 a. Regrets that in order to comply with the revised economic governance rules, governments of Member States, in the forefront of which France, have committed in their national fiscal-structural and budgetary plans to reducing public expenditure and to implement structural reforms; deplores that these commitments have already or will in the near future translate into concrete measures deeply affecting the population, such as the reform of the pension system, the reform of the unemployment scheme, the decrease in healthcare reimbursements, job cuts in public administrations like public education, leading to the general degradation of public services; warns that these economic policies aiming at complying with the objectives of the European Semester will have harmful and long-lasting impacts on the people and on the collective capacity to cope with the ecological crisis while at the same time failing to achieve the deficit and debt reduction for which they were intended;

Or. en

Amendment 244

Dirk Gotink

Motion for a resolution

Paragraph 14 a (new)

Motion for a resolution	Amendment
	14 a. Is concerned about the credibility of the revised economic governance framework; observes that Member States with excessive deficits have submitted plans to bring down this deficit; notes that the Commission had endorsed the medium-term fiscal-structural plan and budget plan of one Member State, while this plan was later rejected at a national level; notes that the Commission did not endorse the medium-term plan of another Member State, while this Member State has been complying with the fiscal and budgetary rules for several years, including the deficit and debt limits; stresses that this outcome risks affecting the credibility of the revised framework;

Or. en

Amendment 245

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 14 a (new)

Motion for a resolution	Amendment
	14 a. Regrets the fact that, out of the 17 draft budgetary plans presented, only eight are in line with fiscal recommendations stemming from the national medium-term fiscal-structural plan; notes with concern that seven plans fall short of full compliance, one is at risk of non-compliance, and one is outright non-compliant; is concerned that six Member States have presented draft budgetary plans with annual or cumulative expenditure growth above their prescribed ceilings;

Or. en

Amendment 246

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 14 a (new)

Motion for a resolution	Amendment
	14 a. Regrets that these corrective measures do not systematically take into account the Commission’s recommendations for the euro area, leading some Member States to cut spending in key areas for boosting competitiveness, such as training and education;

Or. en

Amendment 247

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 14 b (new)

Motion for a resolution	Amendment
	14 b. Invites Member States to take account of social investment in their medium-term structural-fiscal plans and budgetary plans;

Or. en

Amendment 248

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Subheading 4

Motion for a resolution	Amendment
Fiscal stance	Fiscal stance and socio-economic challenges

Or. en

Amendment 249

Manon Aubry

Motion for a resolution

Paragraph 15

Motion for a resolution	Amendment
15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth;	deleted

Or. en

Amendment 250

Pierre Pimpie

Motion for a resolution

Paragraph 15

Motion for a resolution	Amendment
15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth;	15. Recognises the importance of responsible fiscal management but insists that any gradual and sustainable fiscal consolidation effort must maintain the strategic investment needed for growth in the long term; stresses that these adjustments must be compatible with national priorities and must mitigate the negative impact on social cohesion and economic development;

Or. fr

Amendment 251

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 15

Motion for a resolution	Amendment
15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth;	15. Highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth, preserving the necessary investments for green transition and ensuring a high level of employment and social inclusion; recalls that investments in renewables and energy efficiency are crucial to preserve the EU strategic autonomy by making the EU independent from imported fossil fuel and limit inflation driven by energy prices; regrets that in its recommendation for the euro area for 2025 the Commission has not reiterated its recommendation to sustain a high level of public investment to support the green and digital transition;

Or. en

Amendment 252

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 15

Motion for a resolution	Amendment
15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth;	15. Highlights the need to reduce the high levels of deficit and debt while maintaining an adequate level of investment to foster inclusive growth and prosperity;

Or. en

Amendment 253

Thomas Bajada

Motion for a resolution

Paragraph 15

Motion for a resolution	Amendment
15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth;	15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area might continue to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth and taking into account the socioeconomic, sustainability and well-being needs of European society;

Or. en

Amendment 254

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 15

Motion for a resolution	Amendment
15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth;	15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth; recalls that this can be achieved by prioritising efficiency in public spending, eliminating duplication and unnecessary bureaucracy and promoting policies that drive economic growth, such as private investment, regulation efficiency in strategic sectors and improving the business climate to foster innovation and competitiveness; underlines that public spending must be controlled and justified since otherwise a crowding out effect could occur that would cause the private sector to contract and public debt to skyrocket, increasing the inefficiency of public spending;

Or. es

Amendment 255

Dirk Gotink

Motion for a resolution

Paragraph 15

Motion for a resolution	Amendment
15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth;	15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth and Member States’ ability to address emerging national challenges; laments the fact that deficits, debt levels and fiscal policies still vary widely throughout the EU;

Or. en

Amendment 256

Lídia Pereira

Motion for a resolution

Paragraph 15

Motion for a resolution	Amendment
15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth;	15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth, employment and sustainable public investment;

Or. en

Amendment 257

Markus Ferber

Motion for a resolution

Paragraph 15

Motion for a resolution	Amendment
15. Agrees with the Eurogroup that, given the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth;	15. Agrees with the Eurogroup that, given the high levels of debt and the macroeconomic outlook for 2025, gradual and sustained fiscal consolidation in the euro area continues to be necessary; highlights the need to reduce the high levels of deficit and debt in a way that minimises the impact on growth;

Or. de

Amendment 258

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 15 a (new)

Motion for a resolution	Amendment
	15 a. Recalls the Council's recommendation on the economic policy of the euro area of 17 December 2024 to take action in fighting poverty by safeguarding and strengthening sustainable social protection and inclusion systems, including access to affordable and sustainable housing; welcomes in this regard the Commission’s proposal for pan-European investment platform for affordable and sustainable housing to attract more private and public investment; as well as the Commission’s plan to revise the Union’s State aid rules to enable housing support measures, especially for affordable energy-efficient and social housing; calls on the Commission to take decisive and immediate action to effectively address the housing crisis in Europe, also in Country-Specific Recommendations;

Or. en

Amendment 259

Carla Tavares

Motion for a resolution

Paragraph 16

Motion for a resolution	Amendment
16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, which is appropriate in light of the macroeconomic outlook and the need to continue to enhance fiscal sustainability and support the ongoing disinflationary process;	deleted

Or. en

Amendment 260

Manon Aubry

Motion for a resolution

Paragraph 16

Motion for a resolution	Amendment
16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, which is appropriate in light of the macroeconomic outlook and the need to continue to enhance fiscal sustainability and support the ongoing disinflationary process;	deleted

Or. en

Amendment 261

Pierre Pimpie

Motion for a resolution

Paragraph 16

Motion for a resolution	Amendment
16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, which is appropriate in light of the macroeconomic outlook and the need to continue to enhance fiscal sustainability and support the ongoing disinflationary process;	16. Notes that consolidation in 2025 will be coupled with continued growth in public investment; notes, furthermore, the significant impact of the Recovery and Resilience Facility (RRF) and EU funds in several Member States on the forecast expansion of public investment, underpinned by an acceleration of the absorption of EU funds, in particular the cohesion policy and NextGenerationEU; takes the view that as the RRF has already been mobilised in exceptional circumstances to revive the economy, following the COVID-19 crisis and to complement the national recovery plans, it should not be renewed in the next multiannual financial framework, to allow the EU budget to focus expenditures on the EU's own competences;

Or. fr

Amendment 262

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 16

Motion for a resolution	Amendment
16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, which is appropriate in light of the macroeconomic outlook and the need to continue to enhance fiscal sustainability and support the ongoing disinflationary process;	16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025;

Or. en

Amendment 263

Claire Fita, Thomas Bajada, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 16

Motion for a resolution	Amendment
16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, which is appropriate in light of the macroeconomic outlook and the need to continue to enhance fiscal sustainability and support the ongoing disinflationary process;	16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, and a more restrictive fiscal stance in 2026 as the medium-term fiscal-structural Plans (MTFSPs) are implemented, resulting in a further dampening of economic activity at a time when increased investment is most crucial and economic uncertainty remains high;

Or. en

Amendment 264

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 16

Motion for a resolution	Amendment
16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, which is appropriate in light of the macroeconomic outlook and the need to continue to enhance fiscal sustainability and support the ongoing disinflationary process;	16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, which is appropriate in light of the macroeconomic outlook and the need to continue to enhance fiscal sustainability and support the ongoing disinflationary process; notes the Commission projection that the euro area fiscal stance is expected to be slightly contractionary at ½% of GDP in 2024 and ¼% of GDP in 2025; agrees with the contractionary fiscal stance due to i) the suspension of fiscal rules in the period 2020-2023 and the need to restore fiscal stability, ii) the need to create additional fiscal space for future challenges ,and iii) that the fiscal drag will be partly offset by a slight expansion in investment, both financed by national budgets and Recovery and Resilience Facility grants and other EU funds;

Or. en

Amendment 265

Thomas Bajada

Motion for a resolution

Paragraph 16

Motion for a resolution	Amendment
16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, which is appropriate in light of the macroeconomic outlook and the need to continue to enhance fiscal sustainability and support the ongoing disinflationary process;	16. Notes that the implementation of the revised governance framework is expected to lead to a contractionary fiscal stance for the euro area as a whole in 2024 and 2025, which is appropriate in light of the macroeconomic outlook and the need to continue to enhance fiscal sustainability and support the ongoing disinflationary process, while assuring an appropriate level of public and private investment;

Or. en

Amendment 266

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 16 a (new)

Motion for a resolution	Amendment
	16 a. Highlights in this regard that the Recovery and Resilience Facility (RRF) plays a pivotal role in boosting investment across the EU, as outlined in the 2024 Autumn Package, and mitigates contractionary effects by maintaining high levels of public and private investment while the Member States fiscal consolidation measures tighten public budgets; underlines that the RRF will expire by the end of 2026 and threaten a substantial decrease in public investment in our common European priorities; urges the self-proclaimed 'Investment Commission' to provide an answer how to tackle the huge demand for public investment even after the end of the RRF in 2026 and without cutting budgetary resources in other important areas;

Or. en

Amendment 267

Jonás Fernández

Motion for a resolution

Paragraph 16 a (new)

Motion for a resolution	Amendment
	16 a. Stresses that further deepening the single market and removing barriers to investment, including through reforms that streamline and digitalise planning, permitting and other administrative procedures, would help boost private investment; reiterates that industrial policy, as well as deep and integrated EU capital markets and innovation, can also contribute by supporting investment, safeguarding EU global competitiveness and mitigating risks linked to excessive reliance on a limited number of non-EU countries for key technologies, raw materials and industrial inputs;

Or. en

Amendment 268

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 16 a (new)

Motion for a resolution	Amendment
	16 a. Acknowledges the slower-than-expected flow of Recovery and Resilience Facility funds into the real economy1b ; expresses concern that expectations may be overly optimistic, given that by the end of 2023, less than one-third of recovery funds had been utilized by EU Member States, and only about half of the transferred funds had reached final beneficiaries; calls on the Member States to take action, through the implementation of their national Recover and Resilence Plans, to bolster competitiveness, and macroeconomic and financial stability;
	_________________
	1b Special Report 13/2024 from the European Court of Auditors

Or. en

Amendment 269

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 16 b (new)

Motion for a resolution	Amendment
	16 b. Stresses that despite the EU's ambitious goals, the funding gap remains the critical weakness in its drive to prepare the Single Market for the future; acknowledges that despite a huge amount of investments has to come from the private sector, significant public funding is essential not only to stimulate private investment but also to strengthen Europe’s industrial base and competitiveness on a global scale;

Or. en

Amendment 270

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 16 c (new)

Motion for a resolution	Amendment
	16 c. Highlights that the President of the Commission identifies the impact of climate change, resulting in extreme weather events such as floods, fires and droughts, as one of the greatest risks to our security throughout the year and across our Union and concludes that the EU must step up work on climate resilience and preparedness;

Or. en

Amendment 271

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 16 d (new)

Motion for a resolution	Amendment
	16 d. Stresses that higher energy prices than international peers erode the cost competitiveness of several industries; calls for the development and implementation of a comprehensive Union-wide strategy to complement and bring together national strategies for effective electrification and the green transition, including via a sharp increase in the production of renewable energy and further cuts in the use of imported fossil fuels;

Or. en

Amendment 272

Carla Tavares

Motion for a resolution

Paragraph 17

Motion for a resolution	Amendment
17. Considers that the rigorous application of the fiscal rules themselves is not a sufficient condition for achieving an optimal fiscal stance at all times; calls on the Commission and the Council to propose a mechanism that helps ensure that the cyclical position for the EU as a whole is at all times appropriate to the macroeconomic outlook;	17. Calls on the Commission and the Council to propose and explore ideas such as a common EU investment instrument that helps ensure that the cyclical position for the EU as a whole is, when appropriate , at all times appropriate to the macroeconomic outlook;

Or. en

Amendment 273

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 17

Motion for a resolution	Amendment
17. Considers that the rigorous application of the fiscal rules themselves is not a sufficient condition for achieving an optimal fiscal stance at all times; calls on the Commission and the Council to propose a mechanism that helps ensure that the cyclical position for the EU as a whole is at all times appropriate to the macroeconomic outlook;	17. Considers that the rigorous application of the fiscal rules, although absolutely necessary, are not by themselves sufficient for achieving an optimal fiscal stance at all times; notes that the fiscal stance is still projected to be very heterogeneous across Member States in 2025; calls on the Commission and the Council to propose a mechanism that helps ensure that the cyclical fiscal position for the EU as a whole is at all times appropriate to the macroeconomic outlook;

Or. en

Amendment 274

Markus Ferber

Motion for a resolution

Paragraph 17

Motion for a resolution	Amendment
17. Considers that the rigorous application of the fiscal rules themselves is not a sufficient condition for achieving an optimal fiscal stance at all times; calls on the Commission and the Council to propose a mechanism that helps ensure that the cyclical position for the EU as a whole is at all times appropriate to the macroeconomic outlook;	17. Considers that the rigorous application of the fiscal rules themselves is not a sufficient condition for achieving an optimal fiscal stance at all times; calls on the Commission and the Council to further improve economic policy coordination in the EU;

Or. de

Amendment 275

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 17

Motion for a resolution	Amendment
17. Considers that the rigorous application of the fiscal rules themselves is not a sufficient condition for achieving an optimal fiscal stance at all times; calls on the Commission and the Council to propose a mechanism that helps ensure that the cyclical position for the EU as a whole is at all times appropriate to the macroeconomic outlook;	17. Considers that the rigorous application of the fiscal rules themselves is not a sufficient condition for achieving an optimal fiscal stance at all times; calls on the co-legislators to adopt a permanent EU mechanism that helps ensure that the cyclical position for the EU as a whole is at all times appropriate to the macroeconomic outlook;

Or. en

Amendment 276

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Paragraph 17

Motion for a resolution	Amendment
17. Considers that the rigorous application of the fiscal rules themselves is not a sufficient condition for achieving an optimal fiscal stance at all times; calls on the Commission and the Council to propose a mechanism that helps ensure that the cyclical position for the EU as a whole is at all times appropriate to the macroeconomic outlook;	17. Considers that the application of the fiscal rules themselves is not a sufficient condition for achieving an optimal fiscal stance at all times; calls on the Commission and the Council to propose a mechanism that helps ensure that the cyclical position for the EU as a whole is at all times appropriate to the macroeconomic outlook;

Or. en

Amendment 277

Thomas Bajada

Motion for a resolution

Paragraph 17

Motion for a resolution	Amendment
17. Considers that the rigorous application of the fiscal rules themselves is not a sufficient condition for achieving an optimal fiscal stance at all times; calls on the Commission and the Council to propose a mechanism that helps ensure that the cyclical position for the EU as a whole is at all times appropriate to the macroeconomic outlook;	17. Considers that the rigorous application of the fiscal rules themselves is not a sufficient condition for achieving neither an optimal fiscal stance at all times nor a high-level standard of living for European citizens; calls on the Commission and the Council to propose a mechanism that helps ensure that the cyclical position for the EU as a whole is at all times appropriate to the macroeconomic outlook;

Or. en

Amendment 278

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 17 a (new)

Motion for a resolution	Amendment
	17 a. Notes that the overall fiscal stance is contractionary notably due to the reduction of net expenditures; notes that the contractionary fiscal stance is coupled with an overall growth in public investment, mostly supported by the Recover and Resilience Facility (RRF); notes however that some Member States did not increase their investment spending despite the pressing needs; is concerned of the impact of a continued contractionary fiscal stance over the medium term, notably with the phase-out of the RRF; emphasises the RRF pivotal role in addressing EU global challenges; calls on establishing other EU-wide investment capacities to maintain the EU capacity to make the necessary investments for a just transition towards a green economy;

Or. en

Amendment 279

Irene Tinagli

Motion for a resolution

Paragraph 17 a (new)

Motion for a resolution	Amendment
	17 a. Underlines that housing is directly interconnected with the macroeconomy of the euro area, influencing and being influenced by the economic landscape; notes that housing accounts for a sizeable share of output of the euro area; stresses that according to Eurostat, EU households spent on average 19.7% of their disposable income on housing; recalls that housing market cycles impact fiscal health, influencing tax revenues and social expenditure; stresses that policies that support the stability of housing market also provide a contribution to economic resilience;

Or. en

Amendment 280

Manon Aubry

Motion for a resolution

Paragraph 17 a (new)

Motion for a resolution	Amendment
	17 a. Calls on the EU institutions and decision-makers to acknowledge the evidence that cuts to public spending have a contractionary impact on the economy and to reject this approach;

Or. en

Amendment 281

Irene Tinagli

Motion for a resolution

Paragraph 17 b (new)

Motion for a resolution	Amendment
	17 b. Stresses that unaffordable or unavailable housing not only has social consequences, but may represent a blockage for regional and intra-EU mobility, with damaging implication for economic dynamism and social progress;

Or. en

Amendment 282

Manon Aubry

Motion for a resolution

Paragraph 17 b (new)

Motion for a resolution	Amendment
	17 b. Recalls that the International Monetary Fund (IMF), long-time supporter of austerity and structural adjustments, acknowledges that fiscal consolidation is not effective, on average, at lowering debt-to-GDP ratios;

Or. en

Amendment 283

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Subheading 4 a (new)

Motion for a resolution	Amendment
	Macroeconomic Imbalance Procedure

Or. en

Amendment 284

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 17 b (new)

Motion for a resolution	Amendment
	17 b. Regrets the lack of consultation of the European Parliament by the Commission with regard to its planned changes to the Macroeconomic Imbalance Procedure (MIP) scoreboard, while those changes were discussed with the Council; deeply deplores that the Council and the European Parliament have not been treated on an equal footing; urges the Commission to duly consult the European Parliament before implementing further changes;

Or. en

Amendment 285

Irene Tinagli

Motion for a resolution

Paragraph 17 c (new)

Motion for a resolution	Amendment
	17 c. Highlights that in metropolitan areas of some Member States house prices have attained levels that may be acting as a brake on their economies' abilities to attract workers, which can become an increasingly significant constraint to their growth model, with substantial impact on economic growth and thus on long term fiscal sustainability;

Or. en

Amendment 286

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 17 c (new)

Motion for a resolution	Amendment
	17 c. Regrets that the Macroeconomic Imbalance Procedure (MIP) indicators remain short-sighted and asymmetrical with regard to over and undershooting target values, geared towards a one sided promotion of international cost competitiveness instead of reducing intra-euro area imbalances; recalls that high account surplus create negative spill-over effects contributing to unsustainable indebtedness of partner countries;

Or. en

Amendment 287

Irene Tinagli

Motion for a resolution

Paragraph 17 d (new)

Motion for a resolution	Amendment
	17 d. Regrets that in some Member States house prices growth is still very strong and is likely to increase further; is concerned that this price increase may become hard to curb in the absence of a holistic strategy that includes an adequate set of appropriate policy tools; stresses that the sole use of monetary policy measures could have a negative impact on economic growth;

Or. en

Amendment 288

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 17 d (new)

Motion for a resolution	Amendment
	17 d. Further deplores that the Commission’s recent revision of the Macroeconomic Imbalance Procedure (MIP) scoreboard substantially downgrades social indicators as the long term unemployment rate and the youth unemployment rates are no longer considered headlines indicators, despite their relevance to identify and address specific market labour challenges and adopt adequate public policies; is alarmed that the upper thresholds for nominal labour costs increases allow for minimal real wage increases even when inflation operates at its target;

Or. en

Amendment 289

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 17 e (new)

Motion for a resolution	Amendment
	17 e. Stresses the need to introduce indicators to measure progress towards common EU climate targets and investment in environmental sustainability and innovation, with respective alert thresholds signalling the build-up of imbalances; calls on the Commission to introduce a new “Share of brown asset” indicator, which would assess the share of the asset stock that is not compatible with the net-zero target, as a higher share of “brown assets” implies higher looming transition impacts as well as a higher risk of stranded assets that would significantly deteriorate the current account balance and Member States’ competitiveness;

Or. en

Amendment 290

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 17 f (new)

Motion for a resolution	Amendment
	17 f. Is alarmed by the Commission’s assessment that the housing affordability is likely to deteriorate, due to the underlying market dynamics; calls for an in-depth assessment of the economic drivers of the price surge, including the role played by institutional investors in the housing market; stresses that high housing prices can impair Member States’ ability to attract workers and therefore negatively affect their competitiveness; calls on the Commission to include measures to address housing affordability issues as part of the Country-Specific Recommendations in addition to EU level measures;

Or. en

Amendment 291

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Subheading 5

Motion for a resolution	Amendment
Country-specific recommendations	Follow-up on the governance of the European Semester and country-specific recommendations

Or. es

Amendment 292

Manon Aubry

Motion for a resolution

Paragraph 18

Motion for a resolution	Amendment
18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);	deleted

Or. en

Amendment 293

Carla Tavares

Motion for a resolution

Paragraph 18

Motion for a resolution	Amendment
18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);	18. Notes the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023); expects the implementation rate of the Country-Specific Recommendations (CSRs) to increase as the revised EU economic governance framework comes into full effect in the upcoming years;

Or. en

Amendment 294

Enikő Győri, Auke Zijlstra

Motion for a resolution

Paragraph 18

Motion for a resolution	Amendment
18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);	18. Notes the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023); underlines that the implementation rate could be higher if the Commission ensured Member States’ ownership during the Semester procedure;

Or. en

Amendment 295

Irene Tinagli

Motion for a resolution

Paragraph 18

Motion for a resolution	Amendment
18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);	18. Notes that also due to the COVID pandemic the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);

Or. en

Amendment 296

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 18

Motion for a resolution	Amendment
18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);	18. Notes that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);

Or. en

Amendment 297

Thomas Bajada

Motion for a resolution

Paragraph 18

Motion for a resolution	Amendment
18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);	18. Notes the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);

Or. en

Amendment 298

Dirk Gotink

Motion for a resolution

Paragraph 18

Motion for a resolution	Amendment
18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);	18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023); recalls that implementing CSRs represents a key part of ensuring fiscal sustainability and addressing macroeconomic imbalances; notes that the Recovery and Resilience Facility (RRF) has so far not led to substantially higher CSR implementation rates;

Or. en

Amendment 299

Markus Ferber

Motion for a resolution

Paragraph 18

Motion for a resolution	Amendment
18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);	18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023); stresses that this rate is far too low and runs counter to the idea of close economic policy coordination;

Or. de

Amendment 300

Gerben-Jan Gerbrandy, Stéphanie Yon-Courtin, Gilles Boyer

Motion for a resolution

Paragraph 18

Motion for a resolution	Amendment
18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023);	18. Laments the fact that the rate of ‘fully implemented’ country-specific recommendations (CSRs) has dropped from 18.1 % (in the period 2011-2018) to 13.9 % (in the period 2019-2023); encourages the introduction of mechanisms to increase the rate of 'fully implemented' CSRs;

Or. en

Amendment 301

Enikő Győri, Auke Zijlstra, Pierre Pimpie

Motion for a resolution

Paragraph 18 a (new)

Motion for a resolution	Amendment
	18 a. Reiterates in this regard that Country-Specific Recommendations (CSRs) should be better focused by preserving the macroeconomic character and should always remain within the remit of EU competences and should never use double standards;

Or. en

Amendment 302

Markus Ferber

Motion for a resolution

Paragraph 18 a (new)

Motion for a resolution	Amendment
	18a. calls for the European Semester to be refocused on its core purpose of coordinating economic and budgetary policy between the Member States;

Or. de

Amendment 303

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 18 a (new)

Motion for a resolution	Amendment
	18a. Calls for simplification and oversight of the governance of the European Semester with a view to ensuring greater demand and coordination with less bureaucracy;

Or. es

Amendment 304

Manon Aubry

Motion for a resolution

Paragraph 19

Motion for a resolution	Amendment
19. Recalls the Member States’ obligation to address the relevant CSRs under the European Semester in their national fiscal plans;	deleted

Or. en

Amendment 305

Carla Tavares

Motion for a resolution

Paragraph 19

Motion for a resolution	Amendment
19. Recalls the Member States’ obligation to address the relevant CSRs under the European Semester in their national fiscal plans;	19. Notes the Member States’ obligation to describe the action to address the relevant in both their economic and social dimensions as expressed under the European Semester in their national fiscal plans.

Or. en

Amendment 306

Lídia Pereira

Motion for a resolution

Paragraph 19

Motion for a resolution	Amendment
19. Recalls the Member States’ obligation to address the relevant CSRs under the European Semester in their national fiscal plans;	19. Recalls the Member States’ commitment to address the relevant CSRs under the European Semester in their national fiscal plans;

Or. en

Amendment 307

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 19

Motion for a resolution	Amendment
19. Recalls the Member States’ obligation to address the relevant CSRs under the European Semester in their national fiscal plans;	19. Recalls the Member States’ obligation to address the relevant CSRs in both their economic and social dimensions as expressed under the European Semester in their national fiscal plans;

Or. en

Amendment 308

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 19

Motion for a resolution	Amendment
19. Recalls the Member States’ obligation to address the relevant CSRs under the European Semester in their national fiscal plans;	19. Recalls the Member States’ obligation to address the relevant CSRs under the European Semester in their national fiscal plans; calls on the Commission to systematically assess the impact of its recommendation on vulnerable households; deplores the declining number of social CSRs based on the social scoreboard;

Or. en

Amendment 309

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 19

Motion for a resolution	Amendment
19. Recalls the Member States’ obligation to address the relevant CSRs under the European Semester in their national fiscal plans;	19. Recalls the Member States’ obligation to address the relevant CSRs under the European Semester in their national fiscal plans; regrets that the Commission has found unaddressed CSRs in the national fiscal plans;

Or. en

Amendment 310

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 19 a (new)

Motion for a resolution	Amendment
	19 a. Calls for a greater transparency in the elaboration of Country-Specific Recommendations (CSRs), including by consulting key stakeholders such as social partners and civil society organisations;

Or. en

Amendment 311

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 19 a (new)

Motion for a resolution	Amendment
	19a. Adds that the European Semester should address the long-term sustainability of some national pension systems, with reforms based on ensuring their sustainability;

Or. es

Amendment 312

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 19 b (new)

Motion for a resolution	Amendment
	19 b. Recalls that subsidies for fossil fuel consumption and production act as a negative carbon price and can have considerable welfare costs, as highlighted by the International Monetary Fund (IMF); stresses that the Commission should not only monitor national fossil fuel subsidies but also explicitly prescribe their phase-out from the national budget in the Country-Specific Recommendations; welcomes in this regard Commissioner Dombrovskis call to Member States to phase out fossil fuel subsidies with a clear timeline and his commitment to follow-up through the Country-Specific Recommendation;

Or. en

Amendment 313

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 19 b (new)

Motion for a resolution	Amendment
	19b. Applauds the fact that country-specific recommendations include an analysis of the quality of public spending, thereby facilitating the redirection of productive investments and eliminating inefficient expenditures;

Or. es

Amendment 314

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 20

Motion for a resolution	Amendment
20. Highlights the fact that implementing CSRs on strengthening the fiscal sustainability of public pension systems and the cost-effectiveness of health and long-term care systems in the face of ageing populations should remain a key objective for the Member States;	deleted

Or. en

Amendment 315

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Paragraph 20

Motion for a resolution	Amendment
20. Highlights the fact that implementing CSRs on strengthening the fiscal sustainability of public pension systems and the cost-effectiveness of health and long-term care systems in the face of ageing populations should remain a key objective for the Member States;	deleted

Or. en

Amendment 316

Irene Tinagli

Motion for a resolution

Paragraph 20

Motion for a resolution	Amendment
20. Highlights the fact that implementing CSRs on strengthening the fiscal sustainability of public pension systems and the cost-effectiveness of health and long-term care systems in the face of ageing populations should remain a key objective for the Member States;	20. Highlights how the pandemic crisis has shown that the reduction in health care spending carried out in the past decades has ended up weakening health care systems and has increased the risk not only for human health but also for the economic resilience of Member States; underlines the need to make the necessary reforms and investments to ensure that health care systems are adequate to face demographic challenges and possible future pandemic risks;

Or. en

Amendment 317

Fernando Navarrete Rojas

Motion for a resolution

Paragraph 20

Motion for a resolution	Amendment
20. Highlights the fact that implementing CSRs on strengthening the fiscal sustainability of public pension systems and the cost-effectiveness of health and long-term care systems in the face of ageing populations should remain a key objective for the Member States;	20. Highlights the fact that implementing CSRs on strengthening the fiscal sustainability of public pension systems and the cost-effectiveness of health and long-term care systems in the face of ageing populations should remain a key objective for the Member States; regrets that measures linked to pension reforms continue to show a lower implementation level1c; calls on the Commission to monitor the contribution of reforms linked to the pension system to potential growth and fiscal sustainability;
	_________________
	1c COMMISSION STAFF WORKING DOCUMENT 2025 Report on the euro area accompanying the document Recommendation for a COUNCIL RECOMMENDATION on the economic policy of the euro area. P.49.

Or. en

Amendment 318

Gerben-Jan Gerbrandy, Stéphanie Yon-Courtin, Gilles Boyer

Motion for a resolution

Paragraph 20

Motion for a resolution	Amendment
20. Highlights the fact that implementing CSRs on strengthening the fiscal sustainability of public pension systems and the cost-effectiveness of health and long-term care systems in the face of ageing populations should remain a key objective for the Member States;	20. Highlights the fact that implementing CSRs on strengthening the fiscal sustainability of public pension systems and the cost-effectiveness of health and long-term care systems in the face of ageing populations should remain a key objective for the Member States; underlines that they must also serve to promote sound and inclusive economic growth, enhance competitiveness and macroeconomic stability, and promote the green and digital transitions;

Or. en

Amendment 319

Thomas Bajada

Motion for a resolution

Paragraph 20

Motion for a resolution	Amendment
20. Highlights the fact that implementing CSRs on strengthening the fiscal sustainability of public pension systems and the cost-effectiveness of health and long-term care systems in the face of ageing populations should remain a key objective for the Member States;	20. Highlights the fact that implementing CSRs on strengthening the fiscal sustainability of public pension systems and the cost-effectiveness of health and long-term care systems in the face of ageing populations and assuring the proper delivery of these and other services of economic interest to all EU citizens should remain a key objective for the Member States;

Or. en

Amendment 320

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 20 – subparagraph 1 (new)

Motion for a resolution	Amendment
	NextGenerationEU and the Recovery and Resilience Facility

Or. es

Amendment 321

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 20 – point 1 (new)

Motion for a resolution	Amendment
	(1) Underlines that Next Generation EU and, more specifically, the Recovery and Resilience Facility, have been a necessary, swift, and meaningful response to the economic crisis attributable to COVID and the pressing need to reactivate and boost the economy through a stimulus plan; reiterates that the successive modifications and updates to this plan, such as REPowerEU in response to the energy crisis brought on by the Russian invasion of Ukraine, also demonstrated its rapid response and adaptation capacity, something that needs to be repeated to address the new and urgent needs being experienced at European or Member State level;

Or. es

Amendment 322

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 20 – point 2 (new)

Motion for a resolution	Amendment
	(2) Recalls that the European Semester of economic policy coordination is the EU-level framework to identify national reform priorities and monitor their implementation. reaffirms that under the Recovery and Resilience Facility the reforms included in national recovery plans and their subsequent addenda must be coherent and address the demands set out in the country-specific recommendations and the general guidelines of the European Semester;

Or. es

Amendment 323

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 20 – point 3 (new)

Motion for a resolution	Amendment
	(3) Calls for the milestones and targets included in national recovery plans, the Operational Agreements and subsequent addenda to undergo an impact assessment to ascertain whether these reforms have truly achieved the objectives for which they were designed and whether they have had the expected impact, as these reforms conditioned the receipt of European funds;

Or. es

Amendment 324

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 20 – point 4 (new)

Motion for a resolution	Amendment
	(4) Recalls that only through rapid, transparent and effective implementation of the funds by the governments of the Member States, compliance with the agreed reforms and the agreed deadlines will these funds have the promised impact on the GDP of the Union and of each of its Member States;

Or. es

Amendment 325

Isabel Benjumea Benjumea, Fernando Navarrete Rojas

Motion for a resolution

Paragraph 20 – point 5 (new)

Motion for a resolution	Amendment
	(5) Recalls that the success of the Recovery and Resilience Facility will not depend on national recovery plans and the projects contained therein, nor on the number of transfers made by the Commission to the Member States, but rather on the rapid and effective deployment of funds to the real economy, productive sectors and businesses;

Or. es

Amendment 326

Isabel Benjumea Benjumea

Motion for a resolution

Paragraph 20 – point 6 (new)

Motion for a resolution	Amendment
	(6) Points out that all assessments agree that one of the main problems undermining management of these funds is the excessive level of bureaucracy and administrative obstacles; emphasises that, if we wish to overcome these barriers, coordination between the competent authorities for managing this Facility is essential, which means that national governments must work in coordination with regional and local authorities, thus avoiding a centralised management of the funds that further hinders and delays their execution;

Or. es

Amendment 327

Jonás Fernández

Motion for a resolution

Paragraph 20 a (new)

Motion for a resolution	Amendment
	20 a. Shares the view that the 2025 Country-Specific Recommendations (CSRs) need to be focused on a limited set of challenges; underlines that they must also serve to promote sound and inclusive economic growth, enhance competitiveness and macroeconomic stability, promote the green and digital transitions and ensure social and inter-generational fairness; calls on, in that regard, the Commission to link the CSRs more closely to the respective country reports; calls for efficient monitoring of the implementation of the CSRs and the relevant reforms, as well as of the progress on reducing identified investment gaps; stresses that the CSRs need to take account of social vulnerabilities and unemployment;

Or. en

Amendment 328

Claire Fita, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner, Jonás Fernández

Motion for a resolution

Paragraph 20 a (new)

Motion for a resolution	Amendment
	20 a. Stresses that public revenues, as well as public expenditure, are essential to ensure the sustainability of public finances; considers it therefore necessary to subject the level of taxes and duties in Member States to greater European coordination to avoid tax competition; emphasizes in this regard the task assigned to the Commissioner for the Economy and Productivity to ensure that tax system play a crucial role in supporting Europe’s decarbonisation and competitiveness and ensures social fairness;

Or. en

Amendment 329

Marie Toussaint

on behalf of the Greens/EFA Group

Motion for a resolution

Paragraph 20 a (new)

Motion for a resolution	Amendment
	20 a. Regrets that, in the Recommendations of the Commission for 2024, only two Member States still received a Country-Specific Recommendation (CSR) on aggressive tax planning; calls for a more thorough screening through the European Semester and subsequent CSRs of the level of taxes and duties in the Member States on labour, wealth, pollutions and consumption to ensure more coordination, upward social convergence and avoid tax competition

Or. en

Amendment 330

Claire Fita, Thomas Bajada, Carla Tavares, Lara Wolters, Matthias Ecke, Evelyn Regner

Motion for a resolution

Paragraph 20 b (new)

Motion for a resolution	Amendment
	20 b. Welcomes the Commission’s proposal to step up efforts to improve preparedness for adverse developments, including climate change and nature related risks, especially in regions most exposed; urges those challenges to be considered in the next Country-Specific Recommendations;

Or. en