Sittings · Document
Draft report (2024/2116(INI)) 2025-05-05
Facilitating the financing of investments and reforms to boost European competitiveness and creating a Capital Markets Union (Draghi Report)
Committee on Economic and Monetary Affairs
Amendment 340
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | deleted |
Or. en
Amendment 341
Enikő Győri, Pierre Pimpie, Jorge Martín Frías
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | deleted |
Or. en
Amendment 342
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | 10. Welcomes the Omnibus proposal as a critical step towards safeguarding the competitiveness of European companies in an increasingly challenging global environment; underlines that regulatory burdens must remain proportionate in order to preserve innovation, investment, and economic resilience; calls for a coherent and streamlined regulatory architecture, with a restructured Corporate Sustainability Reporting Directive (CSRD) as its foundation, including simplified reporting requirements and strong protections for commercially sensitive information; stresses the need for full alignment and consistency across related legislative instruments, namely the EU Taxonomy Regulation, the Corporate Sustainability Due Diligence Directive, the Sustainable Finance Disclosure Regulation, the EU Green Bonds Regulation, and the Benchmark Regulation, in order to enhance legal clarity, facilitate compliance, and reduce administrative costs; |
Or. en
Amendment 343
Rasmus Andresen
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | 10. Remains fully committed to achieving the objectives of the sustainable finance framework to mobilise investments in the green transition; manage sustainability-related risks and ensure corporate accountability on environmental and social matters; Recalls that deepening the EU capital markets would not automatically turn into higher investments in activities necessary to achieve the green transition and the clean industrial deal; Considers that the sustainable finance agenda should be pursued and completed; Underlines the added-value of the Corporate Sustainability Reporting Directive (CSRD) by providing investors with standardised data which enable them to make well-informed decision and allocate efficiently their capital; |
Or. en
Amendment 344
Auke Zijlstra
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | 10. Calls on the European co-legislators to repeal the CSRD, CSDDD, the Taxonomy Regulation, the Fit for 55-programme, including the phase-out of the combustion engine, and CBAM, allowing savers and investors to invest more in higher-yielding investments; |
Or. en
Amendment 345
Pierre Pimpie
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in strategic sectors, while ensuring that priority is given to key industries essential for Europe's economic and technological sovereignty |
Or. en
Amendment 346
Fernand Kartheiser, Geadis Geadi, Kristoffer Storm, Nora Junco García, Diego Solier, Adrian-George Axinia, Georgiana Teodorescu
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | 10. Remains committed to the objectives of the finance framework to mobilise investments in future technologies; |
Or. en
Amendment 347
Sirpa Pietikäinen
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | 10. Remains committed to the objectives to both phase out the support for fossil-based industries of the sustainable finance framework to mobilise risk-bearing and leveraged investments in the clean transition with a sustainable finance framework, taking into account the role of affordable and reliable data as a crucial pillar for the competitiveness of EU financial markets; calls for a strong oversight of ESG data providers, who currently function without any regulatory supervision; |
Or. en
Amendment 348
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | 10. Remains committed to the objectives of the sustainable finance framework to mobilise public and private investments in the clean transition; recalls that revenues from the Emissions Trading System will be key to support investments for climate and energy-related purposes through both Member States and the Union budget; |
Or. en
Amendment 349
Markus Ferber
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | 10. Remains committed to the overall objectives of the sustainable finance framework to mobilise investments in the clean transition; points out, however, that in some areas the sustainable finance framework has turned out to be overly burdensome and complicated and has gone beyond its original purpose of bridging information asymmetries between market participants; invites the European Commission to critically assess all elements of the sustainable finance framework and come forward with simplification proposals where appropriate; |
Or. en
Amendment 350
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; recalls that the Commission reasserted its ambition to remain the global leader in sustainable finance at the start of this mandate; warns that weakening non-financial reporting requirements may jeopardise the mobilisation of private capital towards the clean transition and undermines the Union’s objectives; |
Or. en
Amendment 351
Regina Doherty
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; supports the Omnibus proposals of the Commission to simply this framework, to make it less burdensome for businesses, especially SMEs, and societies, and to provide greater certainty; |
Or. en
Amendment 352
Johan Van Overtveldt
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; | 10. Remains committed to the objectives of the sustainable finance framework to mobilise investments in the clean transition; notes that financing the clean transition should be done in a technology neutral manner; |
Or. en
Amendment 353
Eero Heinäluoma
Motion for a resolution
Paragraph 10 a (new)
| Motion for a resolution | Amendment |
| 10a. Welcomes the ESMA findings1a that the ongoing costs of environmental, social and governance (ESG) funds are lower than or similar to the ongoing costs of non-ESG equivalents. | |
| _________________ | |
| 1a https://www.esma.europa.eu/sites/default/files/2025-01/ESMA50-524821-3525_ESMA_Market_Report_-_Costs_and_Performance_of_EU_Retail_Investment_Products.pdf |
Or. en
Amendment 354
Rasmus Andresen
Motion for a resolution
Paragraph 10 a (new)
| Motion for a resolution | Amendment |
| 10a. Calls for developing strong incentives for aligning capital markets with the EU common priorities; Invites the Commission, together with the sustainable finance platform, to work on developing a “Brown taxonomy” that would identify activities that do significant harm to one of the taxonomy objectives; Urges to fully include sustainability risks into the prudential framework, starting by imposing specific capital requirements for fossil fuel exposures that genuinely reflect their higher risk; Welcomes in this regard the EIOPA final report on the Prudential Treatment of Sustainability Risk for Insurers; calls for the introduction of specific macro prudential tools to address the systemic dimension of climate risk; Calls for implementing the one-for-one rule whereby one euro invested in exploration of new fossil fuel resources is matched by one euro of capital requirement, reflecting the financial risk stemming from investing in stranded assets; |
Or. en
Amendment 355
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 10 a (new)
| Motion for a resolution | Amendment |
| 10a. Notes with concern the tendency of the European Supervisory Authorities to introduce additional requirements beyond Level 1 legislation, notably through guidelines; stresses that such practices contribute to legal uncertainty, regulatory complexity, and unnecessary burdens for market participants; calls for strict adherence to the boundaries of supervisory mandates and for strengthened oversight to ensure full consistency with the intention of the co-legislators; |
Or. en
Amendment 356
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 10 a (new)
| Motion for a resolution | Amendment |
| 10a. Believes that stimulating IPOs is essential for the growth of European businesses and the further integration of EU capital markets; calls for the implementation of measures that reduce regulatory barriers and enhance access to capital, ensuring that small and medium-sized enterprises can easily access capital markets without excessive costs or complexity; |
Or. en
Amendment 357
Markus Ferber
Motion for a resolution
Paragraph 10 a (new)
| Motion for a resolution | Amendment |
| 10a. Welcomes the Commission proposal for a first "sustainability omnibus" that aims to streamline certain elements of the sustainability reporting requirements; invites the European Commission to follow up with similar ambitious proposals to streamline the sustainable finance framework, including a substantive review of the taxonomy regulation; |
Or. en
Amendment 358
Enikő Győri, Pierre Pimpie, Jorge Martín Frías
Motion for a resolution
Paragraph 10 a (new)
| Motion for a resolution | Amendment |
| 10a. Strongly believes that linking the savings to investments has to be strictly market driven, and it must not be steered by politics or ideology. In this regard, calls for the substantive revision of the sustainable finance framework, starting by making the application of EU Taxonomy voluntary; |
Or. en
Amendment 359
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 10 a (new)
| Motion for a resolution | Amendment |
| 10a. Urges the European Commission to swiftly adopt a proposal to review the Sustainable Finance Disclosure Regulation (SFDR) to introduce minimum standards or criteria for sustainable investment products to address greenwashing risks; |
Or. en
Amendment 360
Rasmus Andresen
Motion for a resolution
Paragraph 10 b (new)
| Motion for a resolution | Amendment |
| 10b. Highlights the need to properly address the risk of “greenwashing” in order to maintain retail investors’ trust in the market; Invites the Commission to review the Sustainable Finance Disclosure Regulation (SFDR) in order to introduce a categorisation of products, based on minimum binding standards; Concurs with the ESMA recommendation to require all financial products to disclose some minimum basic sustainability information, covering environmental and social characteristics; |
Or. en
Amendment 361
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 10 b (new)
| Motion for a resolution | Amendment |
| 10b. Fears that without a clear and coordinated strategy, the number of IPOs in the EU will remain limited, hindering the growth potential of European companies and reducing the attractiveness of EU markets for global investors; |
Or. en
Amendment 362
Rasmus Andresen
Motion for a resolution
Paragraph 10 c (new)
| Motion for a resolution | Amendment |
| 10c. Stresses that high energy prices negatively impact EU competitiveness; Calls on the Council to finally come to an ambitious agreement on revising the outdated minimum tax rates on energy products; Considers of the utmost importance to curb excessive financial speculation on energy commodity derivatives; Welcomes in this regard the proposal made in the Draghi report; Calls on the Commission to review the position limit regime defined in the Markets in Financial Instruments Directive (MIFID) to enable supervisors to impose stricter trading limits and to differentiate between traders category; Urges to apply the “same activity same rule” principle and to review the ancillary activity exemption that enables non-financial companies to trade on energy derivatives markets without being subject to the same scrutiny as financial entities; |
Or. en
Amendment 363
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 10 c (new)
| Motion for a resolution | Amendment |
| 10c. Recalls that EU regulations, such as the Prospectus Regulation and MiFID II, have made strides in improving transparency and market efficiency, yet more can be done to streamline processes for companies looking to go public; highlights the need for further harmonisation of market practices across Member States to create a truly single capital market; defends the application at EU level of best practices; |
Or. en
Amendment 364
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 10 d (new)
| Motion for a resolution | Amendment |
| 10d. Highlights that companies that access capital markets experience significant growth, as enables them to fund their expansion, innovation, and development projects; defends that by obtaining resources from a broader base of investors, these companies can diversify their funding sources and enhance their ability to compete on a global scale, this growth, in turn, drives job creation, as expanding businesses need to hire more personnel to meet demand and develop new products or services; defends that IPOs contribute to wealth generation, not only for the companies themselves but also for investors and local economies, as the increase in economic activity and business growth has a positive impact on the entire business ecosystem; |
Or. en
Amendment 365
Johan Van Overtveldt
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | deleted |
Or. en
Amendment 366
Enikő Győri, Pierre Pimpie, Jorge Martín Frías
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | deleted |
Or. en
Amendment 367
Pierre Pimpie
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Notes the need to strengthen the efficiency of European financial markets; recalls, however, that any integration of institutional frameworks or transfer of supervisory powers to EU-level authorities must respect the principle of subsidiarity and the sovereignty of Member States in organising their national financial systems; stresses that clearing activities should remain under the responsibility of national authorities, without undue pressure to centralise them at EU level. |
Or. en
Amendment 368
Michalis Hadjipantela
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Takes note of the Business in Europe: Framework for Income Taxation (BEFIT) objectives to reduce the complexity of tax rules and the compliance costs for EU businesses with cross-border operations, and to promote cross-border investment and the Single Market's attractiveness; regrets, however, that the Commission`s proposal failed to achieve these objectives; in this respect, reiterates that there needs to be an EU added value both in the legal and economic sense and calls for an effective and balanced approach benefitting all Member States, reduces complexity and the compliance costs of businesses operating across borders; |
Or. en
Amendment 369
Lídia Pereira, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard that several legislative initiatives in the field of taxation are still on hold and that it would be important to guarantee certainty, predictability and stability to our families and businesses; therefore, calls on the Commission to clarify which initiatives are to be withdrawn or revised; and calls on the Council to move forward; |
Or. en
Amendment 370
Auke Zijlstra, Enikő Győri
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Believes that innovative companies could benefit from more welcoming fiscal environments throughout the Union; recalls in that regard the prerogatives of the Member States in taxation, and the role of tax competition between Member States to find an optimal level of corporate taxation; |
Or. en
Amendment 371
Markus Ferber
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Believes that innovative companies could benefit from a single set of EU-wide rules; invites the Commission to explore and assess the benefits and drawbacks of the option of a 28th regime; |
Or. en
Amendment 372
Regina Doherty
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Believes that innovative companies could benefit from a single set of EU-wide rules; notes the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; highlights concerns that the proposal does not achieve the aim of reducing complexity and compliance costs and indeed serves to increase complexity when national tax systems and coexistence with Pillar Two are taken into account; Reiterates that Commission proposals should respect the principle of subsidiarity; Calls for the withdrawal of the BEFIT proposal for this reason; |
Or. en
Amendment 373
Fernand Kartheiser, Geadis Geadi, Kristoffer Storm, Nora Junco García, Diego Solier, Adrian-George Axinia, Georgiana Teodorescu
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Believes that innovative companies could benefit from a single set of EU-wide rules; notes in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; |
Or. en
Amendment 374
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Believes that innovative companies could benefit from a single set of EU-wide common practices; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; recalls that fiscal matters is a national competence of the Member States that must be respected; calls on the Commission to share best practices, incentivising Member States to apply them and cooperate in fiscal matters; defends that fiscal competence is inherently good, as it drives productivity and boosts the economy; |
Or. en
Amendment 375
Pascal Canfin, Stéphanie Yon-Courtin, Gilles Boyer, Billy Kelleher, Anouk Van Brug
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Believes that innovative companies could benefit from a single set of EU-wide rules to scale in Europe, though the upcoming 28th regime and Innovation Act proposals; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; |
Or. en
Amendment 376
Thomas Bajada
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Believes that innovative companies could benefit from a single set of EU-wide rules in line with the Treaties; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; |
Or. en
Amendment 377
Rasmus Andresen
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Stresses, as stated in the Draghi report, that divergent tax rules across the Union are a significant hurdle to achieve a true Single Market; In particular, believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; underlines the importance of the minimum corporate taxation directive in promoting fairness and stability across the taxation landscape in the EU and globally; Calls on the Commission to create an EU framework for corporate tax incentives to streamline tax incentives in the Union and ensure incentives are well-designed to achieve set policy objectives without eroding tax revenues enhancing European competitiveness on the global stage in line with the proposals of the Draghi report; Notes that differences in tax incentives across the EU contribute to heterogeneous and inefficiently fragmented innovation ecosystems in the Union; |
Or. en
Amendment 378
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Notes that the current tax framework in the Union of 27 different corporate tax systems constitutes a serious impediment to businesses and cross-border investment in the internal market1a; Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; stresses that a common framework for corporate taxation through harmonisation will not only significantly cut compliance costs and the administrative burden, but also create a level playing field for businesses operating across the internal market, encourage expansion, enhance legal certainty, and stimulate investments and growth in the Union; urges Member States to speed up negotiations on depreciation rules in particular; |
| _________________ | |
| 1a European Commission, Proposal for a Council Directive on Business in Europe: Framework for Income Taxation (BEFIT), Explanatory Memorandum, p. 8. |
Or. en
Amendment 379
Kinga Kollár
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases, and the Commission proposal for a 28th legal regime - as indicated in the Competitiveness Compass – that can play an important role in removing fragmentation in EU financial markets by simplifying applicable rules and reducing the cost of failure, including any relevant aspects of corporate law, insolvency, labour and tax law; |
Or. en
Amendment 380
Danuše Nerudová
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases, and stresses the necessity of its timely adoption; welcomes the Commission’s intention to propose a 28th legal regime, which will simplify applicable rules and reduce the cost of failure, including any relevant aspects of tax law; sees this as a key step toward a completion of Capital Markets Union and a more competitive Single Market. |
Or. en
Amendment 381
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; | 11. Believes that innovative companies could benefit from a single set of EU-wide rules; recalls in that regard the ‘Business in Europe: framework for income taxation’ proposal establishing a single set of rules to calculate companies’ corporate tax bases; recalls that tax-related obstacles, including the persistence of withholding taxes within the EU, contribute to legal fragmentation, increase administrative complexity, and act as a deterrent to cross-border investment; supports efforts to eliminate or significantly reduce withholding tax-related frictions as a means to facilitate the free movement of capital, enhance the efficiency of capital markets, and mobilise private financing in support of EU strategic objectives |
Or. en
Amendment 382
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 11 a (new)
| Motion for a resolution | Amendment |
| 11a. Defends that the introduction of fiscal incentives can significantly enhance Europe’s attractiveness as an investment destination, by fostering savings and increasing the flow of private capital into European capital markets; calls on the Commission to implement measures that incentivize both domestic and external investors to participate in European capital markets, particularly by offering tax advantages that promote long-term savings and investment; considers that aligning Member States' fiscal frameworks, while respecting national competences, should be part of this incentive strategy to facilitate cross-border investment, especially in high-growth sectors such as technology, infrastructure, and energy; calls on the Commission to support Member States in designing and implementing fiscal policies that encourage investment without undermining the competitive landscape between States; defends that enhancing fiscal incentives to attract private capital is vital to reduce dependency on public resources and promote the sustainable development of European markets, ensuring that they remain competitive and resilient in a global economy; |
Or. en
Amendment 383
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 11 a (new)
| Motion for a resolution | Amendment |
| 11a. Recalls the need to address the debt-equity bias in companies' access to financing with regard to tax treatment, as this bias distorts corporate financing choices, leads to excessive reliance on debt, and limits the development of deep, liquid, and resilient equity capital markets; recalls that promoting equity financing strengthens companies' balance sheets, diversifies funding sources beyond the banking sector, and reduces systemic risk, thereby directly contributing to the objectives of the Capital Markets Union; underlines, furthermore, that equity financing is particularly suited to supporting high-growth and innovative companies, which require long-term, risk-tolerant capital to scale up, invest in research and development, and compete globally; stresses that ensuring a level playing field between debt and equity is essential for building a stronger and more integrated European capital market; |
Or. en
Amendment 384
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 11 a (new)
| Motion for a resolution | Amendment |
| 11a. Stresses that both the calculation of the base and the rates applicable to capital gains vary widely across Member States, where rates go from 42% to 0%, giving rise to distortions and a system ripe for harmful tax competition and aggressive tax planning by the wealthiest; highlights that differences in tax treatment and procedures on capital income also hinder cross border investment, due to complexity, risks of litigation, legal uncertainty, and targeting by Member States’ anti-abuse clauses; |
Or. en
Amendment 385
Arba Kokalari
Motion for a resolution
Paragraph 11 a (new)
| Motion for a resolution | Amendment |
| 11a. Stresses the need to increase retail participation in capital markets to mobilise investments in the European economy and, more importantly, offer EU citizens more attractive returns on their savings; considers national measures most effective in promoting retail participation in capital markets, both directly and via pension systems; considers that allowing retail investors to decide how to allocate their own savings ultimately fosters greater financial literacy and market participation; |
Or. en
Amendment 386
Ralf Seekatz
Motion for a resolution
Paragraph 11 a (new)
| Motion for a resolution | Amendment |
| 11a. Highlights that institutional investors need confidence in the security of their investments to increase their cross-border allocations; calls on the Commission to propose appropriate minimum standards for creditor rights in insolvency proceedings as well as to extend and standardise the legal status and powers of insolvency administrators to trace assets belonging to an insolvency estate; |
Or. en
Amendment 387
Markus Ferber
Motion for a resolution
Paragraph 11 a (new)
| Motion for a resolution | Amendment |
| 11a. Calls on the European Commission to address existing barriers for cross-border retail investments such as overly complicated procedures to recoup withholding taxes and the lack of EU-wide minimum standards for general shareholder meetings; |
Or. en
Amendment 388
Enikő Győri, Pierre Pimpie, Jorge Martín Frías
Motion for a resolution
Paragraph 11 a (new)
| Motion for a resolution | Amendment |
| 11a. Reiterates the Member States’ competences on the field of taxation as set out in the Treaties; calls in this regard to fully respect these competences during the development of EU capital market; |
Or. en
Amendment 389
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 11 b (new)
| Motion for a resolution | Amendment |
| 11b. Welcomes the fact that the European Commission is going to review the securitisation framework; recalls that capital requirements remain a significant barrier, and that due diligence requirements for institutional investors in securitisations generate disproportionately high costs, which reduces attractiveness for investors and puts them at a disadvantage compared to other asset classes; invites the Commission to address this in order to unlock the potential of the securitisation market in the EU; |
Or. en
Amendment 390
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 11 b (new)
| Motion for a resolution | Amendment |
| 11b. Calls on the Commission to take steps for the creation of a common framework for the taxation of capital income in the EU, including minimum effective taxation of capital gains; underlines that revenues from such measures could serve as Own Resources of the Union to support common borrowing and investment capacity; |
Or. en
Amendment 391
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 11 c (new)
| Motion for a resolution | Amendment |
| 11c. Calls for the development and enhancement of private pension schemes within the European Union as a key measure to reduce future dependence on public resources, ensuring the sustainability of pension systems; emphasises the need for concrete and ambitious measures that encourage long-term private savings, improving the availability and accessibility of private pension schemes for European citizens; highlights that, in order to achieve this goal, attractive fiscal incentives should be introduced to make private pension schemes a viable and appealing option for both individuals and businesses, stimulating participation in these systems and, at the same time, promoting financial stability and economic growth; |
Or. en
Amendment 392
Engin Eroglu
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account; |
Or. de
Amendment 393
Auke Zijlstra
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Underlines that households should be the sole decider on how to allocate disposable income; underlines that the accommodative monetary policies of the European Central Bank have blurred investment opportunities for savers and investors; |
Or. en
Amendment 394
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to investments; asks the Commission to explore solutions and study some ideas such as creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques, in order to know if the label adds more bureaucracy or boost investments;; regrets that certain Member States are considering the option of advancing individually in stagnant departments in a 'Europe of the willing'; reminds that these advances could create a two-speed Europe, which would generate even more obstacles; urges the Commission and the Member States to be as ambitious as possible and to move forward as a bloc; |
Or. en
Amendment 395
Arba Kokalari, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at supporting and assisting member states to increase retail participation in capital markets; asks the Commission to explore the idea of creating an EU investment savings account label or blueprint at EU level for a broad range of investment products suitable for retail investors; stresses that a simplified tax declaration procedure is essential to incentivise and encourage the uptake of investment savings accounts by reducing administrative complexity and burden for citizens; encourages that these accounts are accompanied by tax incentives; underlines the importance of ensuring that no restrictions are imposed that channel investments only into certain geographies or sectors; believes that these investment savings account should have no deposit limit or minimum holding period; |
Or. en
Amendment 396
Sirpa Pietikäinen
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments that facilitate the channelling of household savings to productive investments; supports the work of the EU Competitiveness Lab on creating an EU-level label for retail investors based on common criteria such as fiscal incentives and drawing on successful international models and EU-regulated products like UCITS, ensuring investor flexibility, broad access to regulated funds, an easy-to-use digital platform with cross-border portability, a clear tax structure with long-term investment incentives, and optional workplace integration such as automatic payroll deductions; calls on the Commission to ensure that the account supports citizens' financial well-being while enhancing Europe's capital markets through open investor-centric innovation; |
Or. en
Amendment 397
Markus Ferber
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to facilitate the channelling of household savings to productive investments by establishing the right framework conditions; expresses doubts, however, that the creation of European-level financial products is the appropriate way forward; reminds in this context of the Pan European Pension Product, which so far has had hardly any uptake; |
Or. en
Amendment 398
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as "non-complex" products, proportionate costs, a long-term investment focus, asset allocation and risk mitigation techniques; asks, in particular, for the Commission to assess the effectiveness and the appetite of companies and citizens for a label for investments that offer reward opportunities for investors globally; |
Or. en
Amendment 399
Regina Doherty
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account which would be accessible to all EU citizens or a label at EU level for investment products suitable for retail investors which would maintain its own investment strategy in the best interest of investors in order to boost retail investment, generate greater prosperity, and advance the strengthening of European capital markets; Calls also on Member States to examine options for coordination in order to incentivise the creation of such a product; |
Or. en
Amendment 400
Christophe Gomart
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments, including the promotion of automatic enrolment in supplementary pension schemes and employee share ownership schemes; asks the Commission to explore the idea of creating an EU investment savings account or label at EU level for simple investment products suitable for retail investors based on common criteria or features favouring long-term investment in the capital of EU companies; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; |
Or. fr
Amendment 401
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals to channel household savings towards productive investment; welcomes the announced proposal for EU savings and investment accounts, and underlines their potential to increase retail participation in capital markets, especially when combined with appropriate fiscal incentives; asks the Commission to explore the creation of a label at EU level for market-driven investment products based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the added value of a label for investments located within the EU; |
Or. en
Amendment 402
Enikő Győri, Pierre Pimpie, Jorge Martín Frías
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; strongly reiterates its call that linking savings and investments has to be a market driven process based on the investment needs of companies and willingness of investors; |
Or. en
Amendment 403
Pierre Pimpie
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments while ensuring the protection of investors' interests and enhancing the competitiveness of European industries. Suggests exploring the creation of a voluntary EU investment savings account or a label for investment products based on clear criteria such as simplicity, low costs, and risk mitigation, while prioritizing investments that support the strategic autonomy of the EU. Stresses the need for flexibility in adapting these measures to the diverse financial environments of Member States. |
Or. en
Amendment 404
Dirk Gotink
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate access of household savers to productive investment opportunities, putting the interests and needs of savers first; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; |
Or. en
Amendment 405
Johan Van Overtveldt
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; |
Or. en
Amendment 406
Ralf Seekatz
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account as a wrapper for proven products and a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity for consumers, value for money, asset allocation and risk mitigation techniques, a long -term investment horizon and retirement function; notes the importance of ensuring that the identified products provide for a broad toolbox of products that can effectively respond to a large range of retail investors’ needs and particularly different levels of risk appetite; and believes that building on existing best practices in Member States will enhance retail investor acceptance and confidence; asks in particular for the Commission to assess the efficiency of a label for investments that are located in the EU; |
Or. en
Amendment 407
Stéphanie Yon-Courtin, Gilles Boyer, Pascal Canfin, Billy Kelleher
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to work with Member States on non-legislative initiatives and to develop EU level proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments, ensuring that both approaches are complementary and mutually reinforcing; Recognises that favourable tax incentives are essential to the success of those instruments and urges the Commission to engage with Member States on this matter to ensure the attractiveness of those instruments across Europe; calls the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low or appropriate costs, long term investment horizon, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; |
Or. en
Amendment 408
Aurore Lalucq
on behalf of the S&D Group
René Repasi, Eero Heinäluoma, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Lara Wolters
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; urges the Commission to introduce a simplified and streamlined advice segment or guided execution only segment for products labelled as basic and simple asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and mostly located in the EU (Invest or Made In Europe label); takes note of the Draghi report’s recommendation to provide tax incentives in support of developing strategic sectors; considers that any tax incentives linked to investment products should supports investments made in Europe to avoid subsidising foreign innovation and growth; |
Or. en
Amendment 409
Rasmus Andresen
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive and sustainable investments, in addition to a more general reform of the financial product distribution model; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs including a 1% or lower cap fee, asset allocation and risk mitigation techniques; asks in particular the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; |
Or. en
Amendment 410
Eero Heinäluoma
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive long term savings and investments, including for retirement; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; |
Or. en
Amendment 411
Fabio De Masi
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; rejects the idea of relaxing regulation of securitisation such as requirements for the originator, sponsor or lender of a securitisation to retain a material net economic interest in the debt instrument; notes that at the end of 2023, SME loans accounted for only 10% of total ABS outstanding in Europe and expectations for securitisations to contribute to the funding of European SMEs are therefore often grossly overstated; |
Or. en
Amendment 412
Ľudovít Ódor, Anouk Van Brug, Engin Eroglu, Billy Kelleher
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; asks, in this regard, the Commission and the Member States for a more coordinated endeavour to raise an average financial literacy which may contribute significantly to a different retail investment culture within the EU; |
Or. en
Amendment 413
Kinga Kollár, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; | 12. Calls on the Commission to develop proposals aimed at creating instruments to facilitate the channelling of household savings to productive investments; asks the Commission to explore the idea of creating an EU investment savings account or a label at EU level for simple investment products suitable for retail investors based on common criteria or features such as product simplicity, low costs, asset allocation and risk mitigation techniques; asks in particular for the Commission to assess the efficiency of a label for investments that are sustainable and located in the EU; encourages the Commission to analyse the successful examples of the Member States how to channel better household’s savings via long-term saving products; |
Or. en
Amendment 414
Eero Heinäluoma
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Underlines the importance of the pillar one pension in the EU. Notes that the annual expenditure on private pensions is much lower and is less than 1% of GDP in most EU countries, expect the NL, Sweden and Denmark. | |
| Acknowledges the limited competences of the EU to boost the cross border development. | |
| Notes that despite facilitating EU framework, IORPS 2 directive and PEPP regulation, only 31 IORPS operate cross border, representing a very small portion (0,2% of members and 0,4% of total assets) compared to all IORPS, whereas there is only 1 PEPP on the EU market, with an extremely low take up of less than 5000 savers. | |
| Calls upon the EC to tackle in the PEPS and IORPS review structural shortcomings leading to these low numbers. |
Or. en
Amendment 415
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Recalls that existing pan-European products, such as ELTIFs and PEPPs, have so far failed to gain meaningful traction among retail investors, partly due to overly complex or prescriptive regulatory frameworks; acknowledges ongoing reforms aimed at enhancing their appeal, but stresses that experience shows regulatory design alone is insufficient to drive uptake; cautions against introducing new product schemes that risk duplicating or displacing existing market-based solutions; underlines that the development of investment products should always be driven primarily by market demand to ensure relevance, simplicity, and investor trust; |
Or. en
Amendment 416
Jussi Saramo, Pasquale Tridico, Gaetano Pedulla', Manon Aubry
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Notes that retail investors play an important role in the CMU project, while warning against transferring macroeconomic risks to low- and middle-income households; therefore cautions against incentivizing risk-taking at the expense of precautionary savings; stresses the importance of having retail investment rules that meet the needs of investors; believes that capital markets should deliver real value for money to EU retail investors; regrets that this is not currently the case, as EU retail investors are often sold financial products that offer poor value for money; |
Or. en
Amendment 417
Dirk Gotink
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Stresses that investing in European companies and sectors should be sufficiently profitable in order to structurally mobilise investments (building a business case for Europe); emphasises that savers and institutional investors, including pension funds, should be free to invest where they see fit, and that forcing investments to European projects and firms is unsustainable and leads to inefficient allocation of resources; notes, therefore, that mobilising investments in Europe goes hand-in-hand with supporting productivity, competitiveness and profitability of European firms; |
Or. en
Amendment 418
Stéphanie Yon-Courtin, Gilles Boyer, Pascal Canfin, Billy Kelleher, Anouk Van Brug
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Highlights that mobilising retail investments in Europe starts with financial education; underlines that, according to the 2023 Eurobarometer on financial literacy, many Europeans still lack basic financial literacy, which hampers their investment choices; calls on the Commission to deliver on an ambitious financial literacy strategy by Q3 2025, working in close cooperation with national and international bodies, such as the OECD whose experience in this field can help identify policy priorities and effective implementation strategies; |
Or. en
Amendment 419
Anouk Van Brug, Billy Kelleher, Engin Eroglu
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Stresses that citizens should have near-frictionless access to financial markets in order to optimize their personal financial planning; considers that enhanced financial literacy would enable citizens to make well-informed financial decisions and simultaneously contribute to the financing of the European economy; considers financial literacy essential to building an investment mind-set that complements statutory pensions and savings accounts, positioning capital markets as a key pillar of personal financial well-being; |
Or. en
Amendment 420
Evelyn Regner
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Stresses that pension systems must prioritise stability, solidarity and the provision of adequate and predictable income in retirement; underlines the serious risks associated with pension schemes that are heavily exposed to financial market volatility, which can jeopardise pension security and deepen inequality; warns against over-reliance on individualised, market- based pension models that shift financial risks onto individuals and weaken the principle of collective responsibility in pension provision. |
Or. en
Amendment 421
Rasmus Andresen
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Recalls that pension policy has first and foremost objective to provide social security for workers; Cautions that the development of pillar 2 and pillar 3 pension products should not undermine Pillar 1 pension schemes; Highlights that strong retail savers protection safeguards should be associated to the development of pillar 2 and pillar 3 pension products; Notes that pension funds have a crucial role in financing the green transition thanks to their long-term liabilities; |
Or. en
Amendment 422
Markus Ferber
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Stresses that in the context of the Savings and Investment Union, proposals such as the Retail Investment Strategy, that could lead to additional layers of complexity for retail clients, should either be entirely reconsidered or comprehensively redrafted in order to facilitate retail clients' access to European capital markets and thereby channel savings into investments; invites the European Commission to play a constructive role in this process; |
Or. en
Amendment 423
Jonás Fernández
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Notes that the auto-enrolment in regulated pension schemes could make capital market participation rise sharply; considers the Commission should assess the feasibility and efficiency of completing the existing Public Pension Systems (Pillar I) with complementary long-term savings plan that benefits a majority of EU citizens; underscores that Public Pension Systems continue to serve as a cornerstone of solidarity within Member States; |
Or. en
Amendment 424
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Warns that the proliferation of uncoordinated tax incentives in Member States may further increase complexity and fragmentation of the tax system in the Union, and produce significant distortions in the internal market, along with opportunities for tax evasion and avoidance; welcomes, as a first step, guidelines from the Commission in the design of tax incentives; |
Or. en
Amendment 425
Ralf Seekatz
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Notes with concern that only 42% of Europeans feel financially confident about their retirement; considers that any initiative to facilitate the channelling of household savings to productive investments should help address the growing pension gap; |
Or. en
Amendment 426
Fernand Kartheiser, Geadis Geadi, Kristoffer Storm, Nora Junco García, Diego Solier, Adrian-George Axinia, Georgiana Teodorescu
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Encourages the Commission to recommend a set of rules to financial institutions confirming the rights of the citizens holding a savings account; |
Or. en
Amendment 427
Auke Zijlstra
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Calls on the Commission to study the effect of channelling household savings to investments on EU banks' liquidity buffers and overall balance sheets; |
Or. en
Amendment 428
Stéphanie Yon-Courtin, Gilles Boyer, Pascal Canfin, Billy Kelleher, Anouk Van Brug
Motion for a resolution
Paragraph 12 b (new)
| Motion for a resolution | Amendment |
| 12b. Recognises the importance and urgency of finalising the Savings and Investments Union to offer more opportunities to EU citizens and EU businesses; recalls that regarding pensions, national budgets are increasingly constrained to deliver on adequate retirement income, which is a concrete area where the Savings and Investments Union can make a difference in improving the long-term financial well-being of EU citizens; in this context, promoting features like auto-enrolment can be an effective step forward; acknowledges that new legislative proposals will require time to conclude, and underlines the need to deliver first on existing proposals, as for example the Retail Investment Strategy with its necessary adjustments; |
Or. en
Amendment 429
Markus Ferber
Motion for a resolution
Paragraph 12 b (new)
| Motion for a resolution | Amendment |
| 12b. Points out that intermediaries such as pension funds and insurance undertakings play a key role in channelling private savings into productive investments; highlights that the respective regulatory frameworks such as IORP and Solvency II must therefore be designed in a way that that allow the respective undertakings to fulfil that role, in particular by facilitating long-term and equity investments; expects that the European Commission will adopt an ambitious delegated act on long-term guarantees and long-term equities under Solvency II that fully reflects the agreement reached by the co-legislator on the Solvency II amending directive; |
Or. en
Amendment 430
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Eero Heinäluoma, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 12 b (new)
| Motion for a resolution | Amendment |
| 12b. Stresses that strong consumer protection is essential to fostering trust and boosting participation in European investment products; underlines the need for clear disclosures, transparent and low fee structures, access to basic financial services to promote financial inclusion, robust regulation of digital tools such as artificial intelligence (AI) deployed by financial institutions when selling and providing advice on European financial products and robust regulation and standardisation of financial products, complemented by targeted financial education initiatives; |
Or. en
Amendment 431
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 12 b (new)
| Motion for a resolution | Amendment |
| 12b. Underlines the importance of assessing the feasibility of developing a common European label, building on national experiences that have demonstrated strong retail uptake; stresses that such an initiative should aim to generate additional savings while safeguarding, and where possible enhancing, the diversity of products, distributors, and market structures across the Union; |
Or. en
Amendment 432
Jonás Fernández
Motion for a resolution
Paragraph 12 b (new)
| Motion for a resolution | Amendment |
| 12b. Believes that pension tracking systems can give European citizens a clearer overview of the pension entitlements that they can expect in retirement; urges the European Commission to ensure that all Member States introduce simple and transparent pension tracking systems that are easily and freely accessible to citizens; |
Or. en
Amendment 433
Eero Heinäluoma
Motion for a resolution
Paragraph 12 b (new)
| Motion for a resolution | Amendment |
| 12b. Supports ESMAs findings1a that greater fund consolidation in the EU could – assuming unimpaired competition – benefit European investors through cost efficiencies. Calls upon the EC to address the fragmented investment fund landscape in the EU and propose measures to stimulate more consolidation. | |
| _________________ | |
| 1a https://www.esma.europa.eu/sites/default/files/2025-02/ESMA50-524821-3575_The_scale_factor_Impact_of_size_on_EU_fund_cost_structures.pdf |
Or. en
Amendment 434
Dirk Gotink
Motion for a resolution
Paragraph 12 b (new)
| Motion for a resolution | Amendment |
| 12b. Calls on the Commission to encourage Member States with underdeveloped pension systems to develop supplementary (pillar 2) pension systems, which will help protect pensioners, build capital markets and mobilise investments; |
Or. en
Amendment 435
Eero Heinäluoma
Motion for a resolution
Paragraph 12 c (new)
| Motion for a resolution | Amendment |
| 12c. Takes note of ESMA’s yearly studies on the cost and performance of EU retail investment products1a, regrets that the cost borne by retail investors for investing into investment products is on average 40% higher than those borne by institutional investors; points out that UCITS costs have only gradually declined from high levels in the last years, and that UCITS investment funds unfortunately do not fully exhaust the economies of scale that are commensurate with the scale of the EU’s single market; | |
| Regrets that the relationship between economies of scale and share class cost is more pronounced in the US market than the EU; | |
| Believes this demonstrates the need for a strong and effective value for money framework under the EU Retail Investment Strategy; regrets that ESMA has principally had to rely on data provided from commercial data providers for the purposes of developing its cost and performance studies and that ESMA faces significant data limitations when conducting these studies, particularly in relation to information on distribution costs; | |
| Welcomes that ESMA has launched a data collection exercise together with national competent authorities on the costs linked to investments in AIFs and UCITS, including by collecting information related to the cost of distribution; | |
| Believes that enhanced access by ESMA to information on distribution costs can shed more transparency to retail investors and policymakers about the total cost of ownership between different types of investment services, including between independent and non-independent investment advice under MiFID II; | |
| Urges the European Commission to ensure that ESMA has access to the necessary reporting information and data to ensure it can regularly carry out comprehensive studies on the total cost of ownership of different types of investment services; | |
| Believes that reducing the costs of investment products is an essential element in attracting more retail investors to invest and remain invested in capital markets. Calls therefore upon the European Commission's DG Competition to open an in depth sectorial investigation in the EU asset management market and the market for investment advice as well as the fees charged towards retail investors; | |
| _________________ | |
| 1a https://www.esma.europa.eu/sites/default/files/2025-02/ESMA50-524821- |
Or. en
Amendment 436
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 12 c (new)
| Motion for a resolution | Amendment |
| 12c. Stresses that the Retail Investment Strategy should contribute effectively to the objectives of the Savings and Investments Union by facilitating access to suitable investment products for retail investors; calls for a simplified approach to consumer testing and disclosures, focused on essential, clear, and comparable information, while avoiding unnecessary complexity in the advice process; underlines that supervisory benchmarks should be used exclusively for regulatory oversight and not for prescriptive peer grouping or duplicative reporting obligations; highlights the importance of maintaining market flexibility and innovation by avoiding overregulation and eliminating disproportionate or redundant delegated acts; |
Or. en
Amendment 437
Stéphanie Yon-Courtin, Gilles Boyer, Pascal Canfin, Billy Kelleher
Motion for a resolution
Paragraph 12 c (new)
| Motion for a resolution | Amendment |
| 12c. Reminds the Commission about the European Parliament’s resolution of 23 October 2018 on the role of employee financial participation in creating jobs and reactivating the unemployed (2018/2053(INI)); asks the Commission to consider appropriate recommendations to facilitate the development of employee financial participation instruments, including through the harmonisation of certain essential rules and mutual recognition mechanisms across Member States; |
Or. en
Amendment 438
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Eero Heinäluoma, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 12 c (new)
| Motion for a resolution | Amendment |
| 12c. Urges the Commission to support the development of a European Capital Markets Union Index Family1a based on data that will be made available under the future EU-wide Consolidated Tape, which would give greater visibility to smaller and less liquid national markets in the EU and allow European citizens to easily invest in mid- and small-cap equities across all EU Member States; | |
| _________________ | |
| 1a Feasibility study for the creation of a CMU equity market index family, 2020 https://op.europa.eu/en/publication-detail/-/publication/1562efbd-cbc6-11ea-adf7-01aa75ed71a1/language-en/ |
Or. en
Amendment 439
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 12 d (new)
| Motion for a resolution | Amendment |
| 12d. Notes that the current criteria for classifying clients as professional under MiFID II remain overly rigid, particularly for those seeking professional status through the opt-in procedure; underlines that this restricts access to a broader range of investment products for individuals with significant financial resources, experience, and long-term investment capacity; stresses that such over-categorisation limits portfolio diversification and hampers the mobilisation of private capital for productive investment; considers that the proposed revisions in the Retail Investment Strategy package are insufficient, and calls for a more proportionate and flexible approach to client categorisation; |
Or. en
Amendment 440
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 12 d (new)
| Motion for a resolution | Amendment |
| 12d. Recalls that pension systems and their financing models largely depend on national specificities; stresses that pensions should first and foremost aim to ensure decent retirement income for all, and not be primarily designed as a tool to promote the development of the Capital Markets Union; |
Or. en
Amendment 441
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 12 e (new)
| Motion for a resolution | Amendment |
| 12e. Notes with concern that financial literacy remains low across the Union, with only 18% of EU citizens demonstrating a high level of financial literacy; underlines that knowledge levels vary significantly across Members States and demographic groups; stresses that improving financial literacy empowers citizens, enhances investment awareness, and is key to increasing retail participation in capital markets; calls on the Commission and Member States to step up coordinated efforts to promote financial education; |
Or. en
Amendment 442
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 12 f (new)
| Motion for a resolution | Amendment |
| 12f. Calls for a review of the UCITS diversification rules to ensure they do not unduly constrain investment in European companies; notes that the current 10 % issuer cap may prevent actively managed funds from adequately reflecting benchmark indices and could lead to forced divestments from outperforming firms; supports raising the threshold to 20 % for equity holdings, in line with the flexibility granted to passive investment vehicles such as ETFs; |
Or. en
Amendment 443
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 12 g (new)
| Motion for a resolution | Amendment |
| 12g. Calls for measures to promote employee share ownership as a tool to strengthen long-term investment, foster employee engagement, and broaden retail participation in capital markets; emphasises the importance of enabling cross-border offerings by reducing legal and administrative barriers, including through the targeted harmonisation of relevant national frameworks; |
Or. en
Amendment 444
Arba Kokalari
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; notes that relocations to third countries are often driven by observed inefficiencies, shallower and less liquid EU capital markets, and stresses that these challenges must be addressed by enlarging and integrating capital markets as well as improving the overall business environment in the Union; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at addressing the drivers of their relocation to non-EU countries; |
Or. en
Amendment 445
Pierre Pimpie, Enikő Győri
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to support Member States in creating favourable conditions for start-ups and scale-ups to grow and remain in the EU, notably by improving access to financing and reducing administrative burdens; |
Or. en
Amendment 446
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to developed solutions that allow growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance, specially venture capital, aimed at making the European Union a place attractive for investments and companies; encourages to consider further initiatives to strengthen primary markets, particularly from a cross-border perspective; recognises that SME Growth Markets are a vital entry point for SMEs into capital markets and they should be made more accessible through streamlined requirements; |
Or. en
Amendment 447
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; highlights the need to deepen the integration of EU primary markets by advancing regulatory convergence and facilitating cross-border listings; stresses that simplified and standardized listing procedures, such as a common EU prospectus, would ease access to capital across Member States; emphasizes the role of SME Growth Markets in supporting the scale-up of smaller firms and calls for targeted measures to reduce administrative barriers and increase their uptake; |
Or. en
Amendment 448
Sirpa Pietikäinen
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at creating an attractive and open investment environment that welcomes both EU and global investors; |
Or. en
Amendment 449
Anouk Van Brug, Billy Kelleher, Engin Eroglu
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at creating an attractive and open investment environment that welcomes both EU and global investors; |
Or. en
Amendment 450
Regina Doherty
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to encourage growing start-ups, microenterprises, SMEs, and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at improving opportunities for such companies to access finance in Europe; |
Or. en
Amendment 451
Markus Ferber
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance outlining the right incentives for European start-ups and scale-ups not to relocate to third countries; |
Or. en
Amendment 452
Thomas Bajada
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to step up its proposals aimed at encouraging growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; |
Or. en
Amendment 453
Dirk Gotink
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to create the right conditions for growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at de-incentivising their relocation to non-EU countries; |
Or. en
Amendment 454
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at reducing incentives for relocation to non-EU countries; |
Or. en
Amendment 455
Lídia Pereira, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance and concrete incentives to businesses to stay in the EU; |
Or. en
Amendment 456
Kinga Kollár, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries and re-attracting them to the EU; highlights the importance of attracting talent to the EU in order to ensure long-term economic growth, innovation and global competitiveness; |
Or. en
Amendment 457
Pascal Canfin, Stéphanie Yon-Courtin, Gilles Boyer, Billy Kelleher
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; asks for the future European Tech-Champions Initiative 2.0 announced in the Commission's communication on the Savings and Investment Union to scale up its financial means to support EU funding and listing of start-ups; |
Or. en
Amendment 458
Danuše Nerudová
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; | 13. Expects the Commission to encourage growing start-ups and companies to scale up and list within the EU; asks, therefore, for the future EU Start-Up and Scale-Up Strategy to include a chapter on finance aimed at preventing their relocation to non-EU countries; calls for targeted support at EU level to improve the commercialisation of research results, especially in Member States with weaker innovation ecosystems; underlines the importance of connecting research institutions with start-ups and industry ; |
Or. en
Amendment 459
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 13 a (new)
| Motion for a resolution | Amendment |
| 13a. Supports investor exits from private companies by promoting mechanisms such as multilateral intermittent trading of privately held shares, thereby improving liquidity and transparency, and enabling early-stage investors to realise returns; considers such mechanisms should be designed specifically to facilitate cross-border trading across EU member states while preserving shareholder rights, especially for minority shareholders; |
Or. en
Amendment 460
Anouk Van Brug, Billy Kelleher, Engin Eroglu, Stéphanie Yon-Courtin
Motion for a resolution
Paragraph 13 a (new)
| Motion for a resolution | Amendment |
| 13a. Considers that venture capital should become more widely accessible to companies as an alternative to traditional bank lending in order to diversify funding sources; calls on the Commission to propose measures to enhance this type of financing for EU companies; |
Or. en
Amendment 461
Markus Ferber
Motion for a resolution
Paragraph 13 a (new)
| Motion for a resolution | Amendment |
| 13a. Invites the Commission to propose an ambitious review of the European venture capital funds (EuVECA) regulation in order to make access to finance more accessible for small and innovative companies; |
Or. en
Amendment 462
Markus Ferber
Motion for a resolution
Paragraph 13 b (new)
| Motion for a resolution | Amendment |
| 13b. Recognises the role the European Investment Fund could play in providing access to finance for high-growth and innovative SMEs; points out, however, that such access should not be hindered by overly complicated and burdensome compliance and disclosure rules; invites the EIF to assess if the existing set of rules could be streamlined in order to facilitate access to finance for smaller companies that often have not the resources to manage overly complex application procedures; |
Or. en
Amendment 463
Pierre Pimpie, Enikő Győri
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Encourages the Commission to prioritize an agenda that supports financial stability within the EU, while fostering access to diverse sources of capital, including venture capital and equity investment, in a manner that respects the diversity of national financial systems. Suggests exploring measures that reduce excessive reliance on bank lending by promoting alternative financing options tailored to the needs of businesses, ensuring that these initiatives align with the economic realities of Member States and maintain the stability of national financial markets; |
Or. en
Amendment 464
Arba Kokalari
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Calls on the Commission to prioritise a Savings and Investments Union agenda that sustains financial stability, favours access to venture capital and equity investment, strengthens the depth and liquidity of secondary markets, reduces over-reliance on bank lending, and ultimately fosters an investment culture that encourages Europeans to participate more confidently in capital markets, supporting both personal wealth-building and real economy financing; |
Or. en
Amendment 465
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Calls on the Commission to prioritise an ambitious SIU agenda that incentivises private investment, reduce regulatory burden to boost growth and productivity, sustains financial stability, boosts financial literacy, favours access to venture capital and equity investment to enable SMEs to benefit from a greater market integration, ensures access to markets for retail investors and reduces over-reliance on bank lending; |
Or. en
Amendment 466
Jussi Saramo, Pasquale Tridico, Gaetano Pedulla'
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Recalls the lessons of the global financial crisis of 2007-8 that prudent financial market regulation is necessary to ensure a stable economic environment; calls therefore the Commission to prioritise a CMU agenda that sustains financial stability and is guided by the interests and fundamental rights of EU citizens; |
Or. en
Amendment 467
Auke Zijlstra, Enikő Győri
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and balance equity and debt financing; |
Or. en
Amendment 468
Markus Ferber
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and complements bank lending; |
Or. en
Amendment 469
Rasmus Andresen
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability and consumer protection, favours access to venture capital and equity investment and reduces over-reliance on bank lending; while providing clear incentives toward sustainable activities and away from activities that do significant harm to one of the taxonomy objectives; calls on the Commission to propose a framework for selecting venture capital-financed projects that should be prioritised for incentives, drawing on the lessons learned from the innovation fund and STEP; |
Or. en
Amendment 470
Ľudovít Ódor, Pascal Canfin, Billy Kelleher, Stéphanie Yon-Courtin
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment, reduces over-reliance on bank lending and provides a private sector with risk sharing or de-risking mechanisms allowing a fruitful collaboration of public and private sector, thus creating a more prosperous environment; |
Or. en
Amendment 471
Regina Doherty
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment, strengthens liquidity in secondary markets, and reduces over-reliance on bank lending; |
Or. en
Amendment 472
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; recalls that, in light of the upcoming Commission proposal for the next Multiannual Financial Framework, budgetary instruments such as guarantees could play a vital role in de-risking access to venture capital, fostering investor risk appetite, and contributing to the financing of Europe's strategic priorities; recalls that institutional investors, such as pension funds and insurers, still invest only marginally in European venture capital; stresses that mobilising private capital at scale is essential to close the financing gap, and calls for MFF-backed instruments to be designed in a way that specifically incentivises greater institutional investment into venture capital; |
Or. en
Amendment 473
Aurore Lalucq
on behalf of the S&D Group
René Repasi, Eero Heinäluoma, Evelyn Regner, Niels Fuglsang, Claire Fita, Lara Wolters
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; points out that the development of a market for securitisations has limited potential to further deepen capital markets in Europe; recalls that securitisation is debt-based instrument primarily used by banks and may run counter to the objectives of the CMU, which aims to develop equity financing and make the financial system less dependent on banks; |
Or. en
Amendment 474
Eero Heinäluoma
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; | 14. Calls on the Commission to prioritise a CMU agenda that sustains financial stability, favours access to venture capital and equity investment and reduces over-reliance on bank lending; |
| Calls upon the Commission to fully implement recommendations to enhance the resilience of Money Market Funds (MMFs), in particular by removing features which can incentive runs; Calls therefore upon the Commission to come forward swiftly with a revised MMF proposal in lines with the FSB recommendations . |
Or. en
Amendment 475
Marco Falcone, Fulvio Martusciello
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Takes the view that that a robust financial sector is essential for mobilising the private capital needed for investment, as requested in the Draghi Report and Letta Report; welcomes to that end the presentation of the Savings and Investment Union and stresses that ensuring a level playing field between financial operators is essential to increase European competitiveness in the current climate; notes with concern in this connection that Regulation (EU) No 575/2013 and Directive 2013/36/EU, as updated by Regulation (EU) 2024/1623, has given rise to an unequal playing field, in particular in respect of the prudential treatment of cross-sectoral holdings under sectoral rules (the so-called ‘Danish compromise’); welcomes the measure adopted through Article 3 of Directive (EU) 2025/2 obliging the Commission to submit, by 31 December 2027, a report on the functioning on this mechanism with regard to competition; calls for an extension of its scope to non-conglomerate financial subjects; stresses the importance and urgent nature of the aforementioned report and recommends that the Commission move forward the deadline for its submission; |
Or. it
Amendment 476
Danuše Nerudová
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Stresses the need for the Commission to address the issue of energy costs, which are undermining the objective of enhancing the competitiveness of European firms and placing pressure on citizens, particularly those with low incomes; calls on the Commission to establish a genuine Energy Union to ensure low, stable, and predictable electricity prices for industrial consumers; urges targeted investment in cross-border infrastructure and grid interoperability to complete the internal energy market, which remains fragmented to the detriment of manufacturers and investors; |
Or. en
Amendment 477
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Highlights the untapped potential of securitisation as a tool to diversify funding sources across the European Union and reduce overreliance on bank lending; stresses that securitisation can play a key role in unlocking private capital to finance the European economy and households; underlines that securitisation contributes to strengthening financial integration by bridging bank lending and capital markets and enabling efficient risk transfer; calls on the Commission to put forward a comprehensive review of the securitisation framework to boost the EU securitisation ecosystem and contribute to financing EU priorities by setting out the right incentives to unlock private investments; highlights the important role of securitisation in mobilising financing by freeing up regulatory capital and refinancing lending to wholesale and retail clients; calls for a proportionate and risk-based review, including prudential recalibrations (for banks and insurers), due diligence simplification, proportionate reporting requirements, and the supervisory process to revitalise this market within the EU; |
Or. en
Amendment 478
Markus Ferber
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Recognises the role of securitisation as an important bridge between the banking sector and capital markets; notes with concern that the size of the European securitisation market has decreased by almost three quarters since the Global Financial Crisis1a; stresses that this development points to an urgent need to review and revise the EU's regulatory framework dealing with securitisation; welcomes the Commission' intention to propose a revision of the Union's securitisation framework by Q2/2025 as one of the first major initiatives under the Savings and Investments Union umbrella; considers that an effective revision of the securitisation framework will enhance the financing capacity of the banking sector; invites the European Commission to present an ambitious proposal that focusses on simplifying due diligence and transparency requirements and also assesses the possibility to adjust prudential requirements for banks and insurers for securitised products to a more reasonable level; | |
| _________________ | |
| 1a ESMA TRV Risk Analysis. The EU securitisation market – an overview. ESMA50-524821-2908. |
Or. en
Amendment 479
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Eero Heinäluoma, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Notes the significant growth and increasing importance of the non-banking financial institution (NBFI) sector and underlines the sector’s importance from a systemic and financial stability perspective; expresses concerns about recent episodes of market instability, such as during the Covid-19 pandemic, the Liability-Driven Investment Fund crisis in the UK and stress in commodity markets which illustrate the potential for the NBFI sector to generate systemic risk and market shocks; urges the Commission to come forward with a legislative proposal to develop a comprehensive macro-prudential framework at the EU level for NBFI sector; urges the Commission to urgently review the Money Market Funds and Securities Financing Regulations considering the vulnerabilities and significant liquidity issues which emerged during the Covid-19 pandemic; |
Or. en
Amendment 480
Irene Tinagli
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Stresses that the Digital Euro has the potential to become a key asset for strengthening the Union’s economic sovereignty, enhancing the efficiency of the payment system, and fostering innovation in the financial sector; underlines that the Digital Euro can contribute to reducing dependence on non-European payment infrastructures, reinforcing monetary transmission, and supporting the integration of the internal market. Considers that, beyond its monetary implications, the Digital Euro could serve as a foundational layer for secure and interoperable digital finance, enabling new business models and increasing the competitiveness of European firms in the global digital economy; |
Or. en
Amendment 481
Rasmus Andresen
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Believes that a diversification of funding could benefit to the EU economy; Considers that the increased role for non-bank financial intermediation (NBFI) should be coupled with an adequate regulatory framework; Calls on the Commission to swiftly propose amendments to the NBFI regulatory frameworks; Invites in particular the Commission to address macro prudential risks stemming from the NBFI sector, in particular risk stemming from the interconnectedness between the NBFI and banking and insurance sectors, especially vulnerabilities related to synthetic risk transfers (SRT), securities financing, leveraged lending and private debt; |
Or. en
Amendment 482
Fabio De Masi
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Calls on the Commission to improve access to funding for SMEs by reviewing and expanding existing programmes, such as the EIF's equity funding facilities, invest in the development of interconnected and interoperable European trading and settlement infrastructures for securities, and harmonize where feasible legal frameworks to facilitate and incentivise cross-border investment within the EU; public funds, where available, should be channelled directly towards the real economy instead of subsidising ('de- risking') the banking sector; |
Or. en
Amendment 483
Arba Kokalari
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Stresses the need to promote a favourable framework for venture capital financing and safe foreign direct investments in the EU; acknowledges the importance of institutional investors to be long-term equity investors in European start up and scale ups; expresses interest in exploring ways to better enable sophisticated investors to invest in long-term EU venture capital funds; recognises the importance of foreign venture capital as a critical driver of Europe’s growth, with 40% of funds in private markets originating outside the EU; |
Or. en
Amendment 484
Dirk Gotink
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Stresses that fragmented market infrastructures pose a major obstacle to cross-border capital flows and investments; calls on the Commission to propose measures in support of the consolidation of trading and post-trading infrastructures in Europe; considers a “coalition of the willing” a viable option if integration of market infrastructures is politically difficult to accomplish among all the Member States; |
Or. en
Amendment 485
Lídia Pereira, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Calls on the Commission to prioritise the follow-up on its Communication on the "Savings and Investments Union: A Strategy to Foster Citizens’ Wealth and Economic Competitiveness in the EU", with concrete proposals to clarify which legal acts are to be revised and simplified, which proposals are to be withdrawn and which proposals are to be tabled in order to complete the Capital Markets Union; |
Or. en
Amendment 486
Jonás Fernández
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Considers that any action aiming at revitalising securitisation should focus on streamlining the regulatory requirements for disclosure and on simple, transparent and standardised (STS) criteria; rejects any proposal that would use securitisation to weaken the EU macro prudential framework and weaken its financial stability; |
Or. en
Amendment 487
Michalis Hadjipantela
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Welcomes the introduction of a European Code of Business Law as a transformative step, providing businesses with a voluntary 28th regime to operate within the Single Market, thus enhancing competitiveness and according to the Letta report making the Single Market the natural horizon for business development; |
Or. en
Amendment 488
Sirpa Pietikäinen
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Urges the Commission to urgently finalise and implement the Retail Investment Strategy; reminds of the importance to protect the retail investors to encourage them to participate more actively in the financial markets, for example through adequate and understandable disclosure requirements; |
Or. en
Amendment 489
Christophe Gomart
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. calls on the Commission to continue its work on harmonising and simplifying the law governing, and taxation of, securities, in particular the procedures for refunding withholding taxes, which constitute a major obstacle to investment within and into the European Union. |
Or. fr
Amendment 490
Regina Doherty
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Calls on the Commission, Member States, and industry to increase their focus on digitalisation in the financial services sector in order to take advantage of the new opportunities offered by AI, data sharing, and new technology, and to remain competitive internationally; |
Or. en
Amendment 491
Gilles Boyer, Stéphanie Yon-Courtin, Pascal Canfin, Billy Kelleher, Anouk Van Brug
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Underlines the crucial role which data will play in creating deep, dynamic and well-functioning capital markets within the EU; stresses that these data must be provided at a fair cost and be of a high quality to respond to the needs of investors; |
Or. en
Amendment 492
Thomas Bajada
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Expects the Commission to launch a fully-fledged financial literacy strategy accompanied by both legal and budgetary incentives aimed at improving the levels of financial literacy across all Member States; |
Or. en
Amendment 493
Martine Kemp
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Urges the Commission to develop a comprehensive framework of best practices for national second and third pillar pension schemes, aimed at promoting the adoption of funded occupational pensions; |
Or. en
Amendment 494
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Calls on the Commission to facilitate long-term equity investments by institutional investors, including banks, insurers, pension funds, and investment funds; |
Or. en
Amendment 495
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14a. Supports the establishment of a fully-fledged European deposit insurance scheme; acknowledges that risk-sharing and risk-reduction are interlinked; |
Or. en
Amendment 496
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 14 b (new)
| Motion for a resolution | Amendment |
| 14b. Stresses the essential role of efficient and modern market infrastructures in achieving a deep and resilient Capital Markets Union; welcomes the progress made towards a transition to a T+1 settlement cycle in the Union, but notes with concern that other jurisdictions, such as the United States and India, have already implemented T+1 and are exploring or piloting T+0 settlement cycles; underlines that the EU risks falling behind in global competitiveness and technological readiness if it does not match this pace; calls on the Commission and ESMA to accelerate work on the effective transition to T+1 ahead of the currently envisaged 2027 timeline and to urgently initiate a technical and regulatory assessment of the feasibility of moving to T+0 settlement, in close coordination with market infrastructures, central banks, and market participants; highlights that shortening the settlement cycle would reduce systemic risk, enhance market efficiency, and strengthen the attractiveness of EU capital markets globally; |
Or. en
Amendment 497
Markus Ferber
Motion for a resolution
Paragraph 14 b (new)
| Motion for a resolution | Amendment |
| 14b. Recognises the need for efficient and liquid capital markets to boost investments, including a competitive post-trading market infrastructure; welcomes the Commission's legislative proposal to introduce a targeted amendment to the Central Securities Depository Regulation (CSDR) with the aim of shortening the settlement cycle in the EU from two days (“T+2”) to one (“T+1”) for transactions in transferable securities executed on trading venues; points out that this initiative allows the EU to catch up with other jurisdictions that have already completed the move to T+1 and avoids misalignment; expects that the proposal will increase the efficiency and resilience of EU capital markets, including through lower risks of settlement fails, quicker availability of securities and funds and lower margin requirements; |
Or. en
Amendment 498
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 14 b (new)
| Motion for a resolution | Amendment |
| 14b. Underlines that banks remain central to financing long-term and productive investment; stresses the strong link between bank profitability and lending capacity; notes that EU banks face higher compliance costs due to stricter implementation of international standards, including gold-plating of Basel rules; urges the removal of undue regulatory barriers and a review of the prudential treatment of equity exposures to better reflect the long-term nature of such investments; underlines, in particular, the need to address the disincentive effects of the current prudential treatment of direct or indirect equity investments by banks under the Capital Requirements Regulation, which limits their potential contribution to private equity and venture capital markets; |
Or. en
Amendment 499
Aurore Lalucq
on behalf of the S&D Group
René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Lara Wolters
Motion for a resolution
Paragraph 14 b (new)
| Motion for a resolution | Amendment |
| 14b. Considers that increased financial education initiatives should be fostered in the EU in order to increase citizens understanding of the benefits of capital markets participation and to help make individual investors make well-informed investment decisions; believes that the Commission and Member States should fund initiatives by consumer organisations, individual investor associations or shareholder organisations that promote understanding and foster retail participation in capital markets; urges the Commission to support the development of independent, user-friendly digital tools that could empower citizens to easily compare the various features and characteristics of investment products available on the market; |
Or. en
Amendment 500
Martine Kemp
Motion for a resolution
Paragraph 14 b (new)
| Motion for a resolution | Amendment |
| 14b. Calls on the Commission to undertake an assessment of the viability of introducing a pan-European Investment and Savings Account (ISA), structured on existing regulated investment solutions, with the objective of facilitating long-term savings and investment opportunities for all individuals, including minors. Emphasises that the ISA should be characterised by administrative simplicity, cross-border portability, and incentivised through a harmonised tax treatment framework across Member States. Asserts that such an instrument would serve as a strategic complement to the Capital Markets Union, while advancing financial inclusion and reinforcing the financial resilience of Union citizens. |
Or. en
Amendment 501
Rasmus Andresen
Motion for a resolution
Paragraph 14 b (new)
| Motion for a resolution | Amendment |
| 14b. Highlights that the European Investment Bank (EIB) has a decisive role to play in developing EU venture capital markets; Calls on the Commission and the EIB group to take action to foster institutional investors' involvement in venture-capital by helping them building expertise in venture-capital; Calls therefore the EIB Group to create an European Tech Forum, gathering all the VC ecosystem, to enhance outreach and engagement with institutional investors on the model of the “Tibi” Initiative; calls the EIB to offer possibilities for such investors to opt in in a co-investment scheme between the EIF and institutional investors, under transparent and pre-agreed terms; |
Or. en
Amendment 502
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 14 c (new)
| Motion for a resolution | Amendment |
| 14c. Recalls that private pension products are an essential gateway for retail investors to participate in capital markets and play a key role in increasing long-term savings and funding for the real economy; stresses that the persistently low participation of EU citizens in capital markets is partly driven by an overreliance on public pension systems in many Member States, which often dis-incentivises individuals from seeking private, market-based retirement solutions; underlines that in line with the Commission aging report1 this trend is increasingly unsustainable in light of demographic ageing and public budget constraints and represents a missed opportunity for fostering retail investor engagement; welcomes the Commission’s ambition in the Savings and Investment Union (SIU) communication to establish a coherent framework to promote long-term savings products across the EU; highlights in particular the importance of measures such as automatic enrolment in occupational pensions, which can help significantly increase coverage and participation, while reducing future pressure on public finances; notes the lessons learned from the limited uptake of the Pan-European Personal Pension Product (PEPP), including the lack of meaningful tax incentives, low public awareness and regulatory rigidity; calls for a stronger policy push to complement public pension systems with accessible, transparent and attractive private schemes tailored to the needs of a more mobile and ageing population; believes that a well-functioning and competitive market for private pensions is essential to complete the Capital Markets Union and enhance financial resilience across Member States; urges the Commission and Member States to effectively implement these measures, promoting policies that incentivise investment in private pension products—such as targeted tax benefits and financial education programmes—to support the development of EU capital markets and ensure the long-term sustainability of pension systems; | |
| 1European Commission. 2024 Ageing Report Economic & Budgetary Projections for the EU Member States (2022-2070) INSTITUTIONAL PAPER 279 | APRIL 2024 |
Or. en
Amendment 503
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 14 c (new)
| Motion for a resolution | Amendment |
| 14c. Calls for a targeted reduction of at least 25 % in reporting and administrative burdens under the Solvency II framework, with simplified procedures particularly for small and medium-sized insurers; stresses that all regulatory changes must fully respect the principle of proportionality, ensuring an appropriate balance between financial stability, policyholder protection, and competitiveness; calls for the proper design and calibration of Level 2 measures to reflect this objective; underlines the need to reassess the capital treatment of long-term and well-diversified equity investments, ensuring that capital charges are better aligned with actual risks and do not unduly discourage investment by insurers in innovative European businesses; supports greater recognition of the risk-mitigating role of public-private partnerships and partial guarantees under Solvency II, in line with treatment in the banking sector, to facilitate institutional investment; calls for the reduction of barriers to cross-border investment, including through the harmonisation of insolvency frameworks and the establishment of effective mechanisms for resolving cross-border disputes; invites the Commission to assess national investment funds and explore ways to expand their contribution to SME access to debt and equity markets; stresses the importance of addressing accounting disincentives under IFRS, in particular the treatment of share recycling, to promote greater investment in equity and risk capital; |
Or. en
Amendment 504
Rasmus Andresen
Motion for a resolution
Paragraph 14 c (new)
| Motion for a resolution | Amendment |
| 14c. Recommends that the European Investment Fund (EIF) publish in an anonymised way detailed data on returns and other key statistics on the funds supported by the EIF; calls for an increase of the budget of the EIF to enhance the EU venture capital ecosystem, in line with the Draghi report recommendation; Calls on the EIF to increase the proportion of its investments that have a positive impact on the environment and to set and enforce strict sustainability conditions; Asks the EIF to lead by example and require its financial intermediaries to review and verify that human rights are respected throughout their supply chains; |
Or. en
Amendment 505
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Eero Heinäluoma, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 14 c (new)
| Motion for a resolution | Amendment |
| 14c. Emphasises that financial education initiatives cannot replace the need for a strong investor protection framework; points out that financial literacy initiatives may be limited in their impact given the inevitable behavioural limitations and cognitive biases affecting individual investors, and due to the speed of innovation and sheer complexity of financial markets; believes that initiatives at EU and Member State level to support the standardisation and simplicity of financial products could enhance EU citizens understanding and the comparability of investment products; |
Or. en
Amendment 506
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 14 d (new)
| Motion for a resolution | Amendment |
| 14d. Notes that the Omnibus Directive introduces exemptions from certain non-financial reporting obligations for companies; underlines the need to ensure that supervisory expectations remain aligned with the evolving reporting framework; warns that, without adjustment, financial institutions would face obligations, particularly on ESG risk, client classification and portfolio assessment, that are unsupported by available corporate disclosures; calls on the Commission to work with the European Supervisory Authorities to ensure coherence between reporting requirements and supervisory practices; |
Or. en
Amendment 507
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 14 e (new)
| Motion for a resolution | Amendment |
| 14e. Underlines the role of securitisation in improving the capital allocation and supporting long-term growth; notes that it can enhance banks’ balance sheet flexibility by transferring risk, releasing capital and unlocking additional lending capacity; points to the underdevelopment of EU securitisation markets compared to the US, partly due to stricter prudential rules; calls for a review of the framework to boost market depth and the introduction of European Secured Notes as a dual-recourse funding instrument to expand SME financing options; |
Or. en
Amendment 508
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 14 f (new)
| Motion for a resolution | Amendment |
| 14f. Underlines the untapped potential of European pension funds in supporting long-term investment in strategic sectors; notes that only 4.3 % of EU pension fund portfolios were allocated to asset classes such as private equity, venture capital, and infrastructure in 2022, compared to 11 % in the United States; calls for a review of the IORP II Directive with a view to ensuring that its investment rules, and national options allowing additional restrictions, do not unduly constrain long-term and productive capital allocation; |
Or. en
Amendment 509
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 14 g (new)
| Motion for a resolution | Amendment |
| 14g. Calls on the Commission and Member States to promote pension systems that are more capital market-oriented, including through appropriate tax incentives, simplified enrolment mechanisms, and transparent, portable products; underlines that such systems are essential to mobilise household savings, enhance retail investor participation, and ensure the long-term financing of the Union’s economy; |
Or. en
Amendment 510
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 14 h (new)
| Motion for a resolution | Amendment |
| 14h. Notes the significant underdevelopment of the second and third pillars of pension systems in many Member States, with pension assets heavily concentrated in a small number of countries; underlines that a broader uptake of supplementary (second pillar) and private (third pillar) pension schemes could improve retirement adequacy, strengthen the capital base of the Union’s economy, and support the development of deeper capital markets; calls on Member States to evaluate appropriate models for second-pillar pension provision and to facilitate the creation of capital market-based retirement savings schemes; stresses, in this context, the importance of providing citizens with clear and accessible information on their future public and private pension rights, and encourages the promotion of pension dashboards or tracking systems to support informed decision-making by savers; |
Or. en
Amendment 511
Isabel Benjumea Benjumea
Motion for a resolution
Subheading 3
| Motion for a resolution | Amendment |
| Sustaining public investments to close the productivity gap | Minimising the use of public investments to boost private investments |
Or. en
Amendment 512
Markus Ferber
Motion for a resolution
Subheading 3
| Motion for a resolution | Amendment |
| Sustaining public investments to close the productivity gap | Making the best use of scarce public resources to close the productivity gap |
Or. en
Amendment 513
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 15 –a (new)
| Motion for a resolution | Amendment |
| 15–a. Acknowledges the Draghi report’s assessment that around four fifths of productive investments will be undertaken by the private sector in the EU, while public investment will also play a catalysing role; |
Or. en
Amendment 514
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 15 –b (new)
| Motion for a resolution | Amendment |
| 15–b. Recalls the importance of the fiscal rules framework in enabling the creation of fiscal buffers to support public investment, while also recognising the built-in flexibilities aimed at increasing overall investment levels; acknowledges, in particular, the provision that Member States should maintain, at a minimum, the level of nationally-financed public investment throughout the duration of their national medium-term structural plans, relative to the medium-term level prior to the start of the plan; |
Or. en
Amendment 515
Pierre Pimpie
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | deleted |
Or. en
Amendment 516
Rasmus Andresen
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence and advancing the green transition means that substantial public support will be required to mobilise private investment; Recalls that according to the Draghi report to meet EU climate targets, an additional EUR4 trillion must be invested by 2030, and that any delay will increase the burden on public and private finances; stresses that private sector investments will only partially bridge the green investment gap, as the scale is too large and risks are high and that the public sector plays a vital role in closing this gap; |
Or. en
Amendment 517
Markus Ferber
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence and decarbonisation means that adequate public support will be required to mobilise private investment; points out, however, that public debt levels across the EU are high and fiscal space is limited; stresses therefore that any public support measure aimed at mobilising private investments must be very targeted; points out that de-risking initiatives, e.g. via public guarantees, have proven successful to achieve that goal; |
Or. en
Amendment 518
Ralf Seekatz
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required, while also recognising the importance of private investment, with the support of the financial sector as the main source of financing in the European economy, and capital markets, which are to be developed further. |
Or. en
Amendment 519
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence and decarbonisation means that substantial mobilisation of private and public investment; calls for public-private partnership without additional obstacles or delays in the processes; |
Or. en
Amendment 520
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence means that substantial public support will be required to mobilise private investment; calls in this regard to make full use of financial guarantees to leverage private investment; |
Or. en
Amendment 521
Dirk Gotink
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence, energy and decarbonisation means that private investments are needed, complemented with targeted public support where needed; |
Or. en
Amendment 522
Auke Zijlstra, Enikő Győri
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence, strategic autonomy and boosting the economy means that substantial private investment will be required; |
Or. en
Amendment 523
Marco Falcone, Fulvio Martusciello
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence means that substantial public support will be required to mobilise private investment; |
Or. it
Amendment 524
Fernand Kartheiser, Geadis Geadi, Kristoffer Storm, Nora Junco García, Diego Solier, Adrian-George Axinia, Georgiana Teodorescu
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence means that substantial public support will be required to mobilise private investment; |
Or. en
Amendment 525
Guillaume Peltier
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence and decarbonisation, including innovative technologies as defined in Regulation 2024/1735, means that substantial public support will be required to mobilise private investment; |
Or. fr
Amendment 526
Regina Doherty
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on competitiveness, defence and decarbonisation means that substantial public support will be required to mobilise private investment; |
Or. en
Amendment 527
Carla Tavares, Jonás Fernández
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; considers that all instruments and tools should be explored in order to provide the Union with resources to address its priorities and identified needs; considers, in this respect, that joint borrowing through the issuance of EU bonds presents a viable option to ensure that the Union has sufficient resources to respond to Union-wide crises and investment gaps. |
Or. en
Amendment 528
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; calls on the Commission to advance the discussions on addressing the significant investment gap in the EU identified by the Draghi report, and to present concrete proposals for financing solutions; |
Or. en
Amendment 529
Kinga Kollár
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; notes that the private sector is unlikely to be able to finance the lion’s share of the investment necessary to digitalise and decarbonise the economy without public sector support; |
Or. en
Amendment 530
Anouk Van Brug, Engin Eroglu
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; | 15. Believes that the urgency of measures on defence and decarbonisation means that substantial public support will be required to mobilise private investment; calls on the Member States to prioritize defence spending as a matter of urgency, while safeguarding fiscal sustainability in the medium term; |
Or. en
Amendment 531
Rasmus Andresen
Motion for a resolution
Paragraph 15 a (new)
| Motion for a resolution | Amendment |
| 15a. Stresses that the increased impact and frequency of natural disasters would entail massive costs for public finances, as recently demonstrated by the floods in Valencia in October 2024 and the cyclone that devastated Mayotte in December 2024; Recalls that the larger part of the damages are not covered by the private insurance, as evidenced by EIOPA data; Notes that these future costs are currently not taken into account in the debt sustainability analysis; |
Or. en
Amendment 532
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | deleted |
Or. en
Amendment 533
Arba Kokalari
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | deleted |
Or. en
Amendment 534
Dirk Gotink
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | deleted |
Or. en
Amendment 535
Regina Doherty
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | deleted |
Or. en
Amendment 536
Auke Zijlstra, Enikő Győri
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Underlines that the substantial growth in public expenditure throughout the Union in the last decade has depleted national resources for additional public investment; recalls that only substantial economic growth will increase the tax base; expresses concern that overregulation, a hostile environment for entrepreneurship and expansive monetary policy subdue growth perspectives across the Union; |
Or. en
Amendment 537
Markus Ferber
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Points out that there is a high need for an effective coordination of national fiscal policies in order to maintain adequate levels of public investments and achieve the appropriate fiscal stance for the European Union; invites the European Commission and Member States with the assistance of the European Fiscal Board to effectively coordinate to achieve that objective; |
Or. en
Amendment 538
Michalis Hadjipantela
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Recalls that the RRF is set to expire in 2026; takes note of the RRF’s fundamental flaws, for example, not involving regional and local authorities from design to delivery through a place-based and multilevel governance approach; |
Or. en
Amendment 539
Fernand Kartheiser, Geadis Geadi, Kristoffer Storm, Nora Junco García, Diego Solier, Adrian-George Axinia, Georgiana Teodorescu
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Notes that the Recovery and Resilience Facility is set to expire in 2026; |
Or. en
Amendment 540
Danuše Nerudová
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; whereas the repayment of the NGEU debt is scheduled to begin in 2028; in this context, acknowledges the necessity of introducing new own resources to prevent future generations from bearing the burden for the repayment of this debt, while also ensuring the financing of new EU priorities; |
Or. en
Amendment 541
Lídia Pereira, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Expects ambitious and concrete steps from the Commission and Member States to avoid a plunge in public investment after 2026, when the Recovery and Resilience Facility is set to expire; |
Or. en
Amendment 542
Christophe Gomart
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility and the InvestEU Programme are set to expire; |
Or. fr
Amendment 543
Anouk Van Brug, Engin Eroglu
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Considers that public investment could decrease after 2026, when the Recovery and Resilience Facility is set to expire; |
Or. en
Amendment 544
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Fears that public investment might decrease after 2026, when the Recovery and Resilience Facility is set to expire; believes that this framework, where appropriate, should be strengthened by EU-level investment instruments and tools designed to minimise the cost for EU taxpayers and maximise efficiency in the provision of European public goods, which could also represent a step towards a common safe asset; |
Or. en
Amendment 545
Johan Van Overtveldt
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Fears that investment will plunge after 2026; notes that while the Recovery and Resilience Facility served a specific purpose, its governance and effectiveness have been questioned; underlines that any future structural European funding must be designed with clear conditionalities and strong oversight |
Or. en
Amendment 546
Thomas Bajada
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Fears that public investment will plunge after 2026, when in the prospects of a major trade war the Recovery and Resilience Facility is also set to expire; |
Or. en
Amendment 547
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; highlights the need to sustain public investments at both national and European levels to leverage private investment and finance high-quality public services and infrastructures; highlights that EU funding has proven to be a vital instrument for ensuring macroeconomic stabilisation at the EU level in the face of multiple crises since 2019, enhancing internal and external resilience, and supporting Member States in financing essential and strategic investments within the Union; |
Or. en
Amendment 548
Rasmus Andresen
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Fears that public investment will plunge after 2026, when the Recovery and Resilience Facility is set to expire; | 16. Recalls that in 2024 the EU overall fiscal stance was contractionary, while public investments increased mostly thanks to the support of the Recovery and Resilience Facility (RRF); Fears that public investment will plunge after 2026, when the RRF is set to expire; Calls on establishing a new EU-wide investment instrument to maintain the EU capacity to make the necessary investments for a just transition towards a green economy; |
Or. en
Amendment 549
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 16 a (new)
| Motion for a resolution | Amendment |
| 16a. Stresses the importance of safeguarding the long-term sustainability of public finances; warns, at the same time, that offsetting increased public investment, such as in defence, primarily through savings in other policy areas may undermine the Union’s capacity to finance strategic priorities, including social cohesion; underlines that this approach risks weakening investment in essential public services and long-term competitiveness, thereby reducing the Union’s resilience to geopolitical, economic, and social challenges and jeopardising progress towards upward social convergence; calls, therefore, for the exploration of innovative and sustainable financing solutions, including the mobilisation of new own resources, the development of common safe assets, and mechanisms to ensure a fair distribution of financial responsibility across Member States; |
Or. en
Amendment 550
Rasmus Andresen
Motion for a resolution
Paragraph 16 a (new)
| Motion for a resolution | Amendment |
| 16a. Emphasises the urgency to agree on a reform of the system of own resources, in view of the increasing financing needs that cannot be met with the current limited size of the EU budget and the fiscally constrained national budgets; Is alarmed by the lack of progress in the Council on this matter; Supports the Commission’s call for the Council "to resume work on the issue of new own resources as a matter of urgency"; Calls for introducing new revenue sources such as a Financial Transaction Tax or a digital levy to cover the additional budgetary burden arising from NextGenerationEU borrowing as well as the new political priorities; urges furthermore, the Commission to continue the efforts to identify fresh, new and preferably genuine own resources and other revenue sources for the EU budget; |
Or. en
Amendment 551
Jussi Saramo, Pasquale Tridico, Gaetano Pedulla', Manon Aubry
Motion for a resolution
Paragraph 16 a (new)
| Motion for a resolution | Amendment |
| 16a. Notes that, in order to comply with the EU fiscal framework, EU governments must pursue a restrictive fiscal stance in 2025; recalls that a restrictive fiscal stance is at odds with the EU's investment needs; emphasizes that as EU governments struggle with their respective fiscal burdens, EU-wide investment instruments are needed to close the investment gap; |
Or. en
Amendment 552
Jussi Saramo, Pasquale Tridico, Gaetano Pedulla', Manon Aubry
Motion for a resolution
Paragraph 16 b (new)
| Motion for a resolution | Amendment |
| 16b. Notes the significant differences between US and EU fiscal policies; acknowledges that, according to Mario Draghi 1a, between 2009 and 2024, the US government injected five times more money into the economy through budget deficits than the EU; | |
| _________________ | |
| 1a Draghi, Mario: Forget the US - The Europe has successfully put tariffs on itself (Financial Times 14 February 2025): https://www.ft.com/content/13a830ce-071a-477f-864c-e499ce9e6065 |
Or. en
Amendment 553
Engin Eroglu
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; | deleted |
| _________________ | |
| 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. |
Or. de
Amendment 554
Ralf Seekatz
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; | deleted |
| _________________ | |
| 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. |
Or. en
Amendment 555
Michalis Hadjipantela
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; | 17. Recalls that the one-off NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; |
| _________________ | |
| 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. |
Or. en
Amendment 556
Auke Zijlstra
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; | 17. Recalls that the NextGenerationEU recovery fund was a one-off which failed to support economic recovery and the green and digital transitions, as highlighted by Special Report 13/2024 of the European Court of Auditors; |
| _________________ | |
| 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. |
Or. en
Amendment 557
Dirk Gotink
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; | 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; |
| _________________ | _________________ |
| 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. | 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. |
Or. en
Amendment 558
Markus Ferber
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; | 17. Recalls that the NextGenerationEU recovery fund, which is an one-off instrument, is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; points out that central questions in relation to refinancing NGEU still remain unsolved; |
| _________________ | |
| 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. |
Or. en
Amendment 559
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; | 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU; regrets the missed opportunity in numerous States with a low impact on the real economy and strong opacity in the monitoring of European funds; |
| _________________ | _________________ |
| 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. | 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. |
Or. en
Amendment 560
Enikő Győri, Pierre Pimpie, Jorge Martín Frías
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; | 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; recalls that the repayment of NextGenerationEU puts significant burden on the future generations and taxpayers, without even knowing its impact on the real economy of the Member States. |
| _________________ | _________________ |
| 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. | 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. |
Or. en
Amendment 561
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; | 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; underlines that the introduction of new own resources is essential to support the long-term financing of Union priorities; |
| _________________ | _________________ |
| 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. | 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. |
Or. en
Amendment 562
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; | 17. Recalls that safe assets have been issued at EU level by European issuers such as the European Investment Bank, the European Financial Stability Facility, the European Stability Mechanism (ESM) and, since 1976, the European Economic Community and then the EU itself5 ; recalls that the NextGenerationEU recovery fund is the largest stimulus package ever funded by the EU to support economic recovery and the green and digital transitions; |
| _________________ | _________________ |
| 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. | 5 European Stability Mechanism Chief Financial Officer, ‘Developing European safe assets’, Intereconomics, December 2023, https://www.esm.europa.eu/articles-and-op-eds/developing-european-safe-assets-article-intereconomics. |
Or. en
Amendment 563
Engin Eroglu
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | deleted |
Or. de
Amendment 564
Enikő Győri, Pierre Pimpie, Jorge Martín Frías
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | deleted |
Or. en
Amendment 565
Markus Ferber
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | deleted |
Or. en
Amendment 566
Dirk Gotink
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | deleted |
Or. en
Amendment 567
Ralf Seekatz
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | deleted |
Or. en
Amendment 568
Michalis Hadjipantela
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | deleted |
Or. en
Amendment 569
Pierre Pimpie
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | deleted |
Or. en
Amendment 570
Auke Zijlstra
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | 18. Issuing a common safe asset would spur fiscal irresponsibility of badly managed Member States; warns that a common safe asset would involve joint debt issuance among EU member states, meaning that stronger economies would effectively back the debt of weaker economies, which could create a moral hazard, where less fiscally disciplined countries have weaker incentives to maintain responsible budgets because they know their debt is implicitly supported by more stable economies; Calls therefore for significant risk-reduction in the EU instead of more risk-sharing; |
Or. en
Amendment 571
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | 18. Shares the assessment that we need market-based solutions that boost competition and private initiative, without a high intervention of the public sector; |
Or. en
Amendment 572
Anouk Van Brug
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; |
Or. en
Amendment 573
Regina Doherty
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | 18. Shares the assessment that the completion of the Banking Union would significantly facilitate the achievement of the CMU, giving greater choice to consumers and businesses and boosting cross-border investment; stresses the need to complete the third pillar of Banking Union and to avoid falling back on national champions in the banking sector and address the investment needs identified in the Draghi report; recommends that the co-legislators continue their work in this regard; |
Or. en
Amendment 574
Johan Van Overtveldt
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | 18. Stresses that the full completion of the CMU is essential to mobilise both public and private investment at the scale required to close the investment gap identified in the Draghi report; calls on the Commission to prioritise measures that deepen market integration, remove cross-border barriers, and strengthen the financing environment for strategic innovation and competitiveness across the Union |
Or. en
Amendment 575
Rasmus Andresen
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; Considers that having a single EU issuer would contribute to deepen the liquidity of EU bonds and enable investors to use EU safe asset as a benchmark; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; stresses that the current geopolitical environment makes it more urgent and relevant than ever to develop and EU safe assets in order to improve EU capital markets attractiveness; |
Or. en
Amendment 576
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; believes that establishing a common safe asset would strengthen the international role of the euro and contribute to Europe’s open strategic autonomy; |
Or. en
Amendment 577
Fernand Kartheiser, Kristoffer Storm, Adrian-George Axinia, Georgiana Teodorescu, Geadis Geadi
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recommends that the Commission assess the features of safe assets issued at EU level and publish a report to inform the future design of an EU safe asset; | 18. Shares the assessment that issuing a common safe asset to be used as a strong benchmark would significantly facilitate the achievement of the CMU and address the investment needs identified in the Draghi report; recalls that a common safe asset cannot result in issuing additional common debt; recommends that the Commission assess the features of safe assets issued at EU level, excluding common debts, and publish a report to inform the future design of an EU safe asset; |
Or. en
Amendment 578
Irene Tinagli
Motion for a resolution
Paragraph 18 a (new)
| Motion for a resolution | Amendment |
| 18a. Underlines the strategic importance of developing a truly European safe asset to deepen the Union’s capital markets, enhance financial stability, and reinforce the international role of the euro; stresses that a common safe asset would improve the transmission of monetary policy across the euro area by providing a uniform benchmark for interest rates, facilitating cross-border investment, and strengthening the resilience of the financial system in times of stress. Notes that the absence of such an instrument continues to fragment financial markets, constrain the effectiveness of the ECB’s operations, and limit the competitiveness of the Union in global capital markets; calls on the Commission and Member States to explore concrete steps towards the gradual creation of a common European safe asset, including through the reinforcement of joint borrowing instruments aligned with the Union’s long-term policy priorities; |
Or. en
Amendment 579
Auke Zijlstra
Motion for a resolution
Paragraph 18 a (new)
| Motion for a resolution | Amendment |
| 18a. Warns that a jointly issued EU safe asset could distort sovereign bond markets by reducing risk premiums for weaker economies, artificially lowering borrowing costs, which could lead to inefficient capital allocation and increased debt accumulation, creating long-term vulnerabilities in the European financial system, and would therefore contradict the goal of achieving deeper, more liquid and more sustainable capital markets in the EU; |
Or. en
Amendment 580
Thomas Bajada
Motion for a resolution
Paragraph 18 a (new)
| Motion for a resolution | Amendment |
| 18a. Supports joint funding of investments at EU level to maximise productivity growth, economies of scale, as well as to finance European public goods and to support private investment with the final goal of enhancing the wellbeing of EU society and its citizens; |
Or. en
Amendment 581
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 18 a (new)
| Motion for a resolution | Amendment |
| 18a. Supports joint funding of investments at EU level to maximise productivity growth, economies of scale, as well as to finance European public goods and to support private investment; |
Or. en
Amendment 582
Aurore Lalucq
on behalf of the S&D Group
René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Lara Wolters
Motion for a resolution
Paragraph 18 b (new)
| Motion for a resolution | Amendment |
| 18b. Welcomes the Commission's intention to enhance retail investor participation in European financial products in collaboration with the European Investment Bank Group (EIB) , the ESM, and national promotional banks; recommends that safe assets issued at EU level can be incorporated into savings products for workers; |
Or. en
Amendment 583
Enikő Győri, Pierre Pimpie, Jorge Martín Frías
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | deleted |
Or. en
Amendment 584
Pierre Pimpie
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | deleted |
Or. en
Amendment 585
Rasmus Andresen
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; Recalls that the ReArm Europe Plan foresees that Member States mobilise €800 bn to finance a massive ramp-up of defence spending by 2030; Takes note of the Commission’s proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; regrets the choice of Article 122 TFEU as the sole legal basis results in the complete exclusion of the European Parliament from both the establishment and operation of the new instrument; stresses that this instrument by focusing on defence spending only will not contribute to other pressing EU funding needs, such as the green transition; |
Or. en
Amendment 586
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support and a long-term funding approach aligned with a structural investment strategy; takes note of the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; underlines concerns that a loan-based mechanism may increase fiscal pressure on highly-indebted Member States, and therefore calls on the Commission to explore the inclusion of grant components; further calls on the European Council to support common EU borrowing with a view to ensuring a fair distribution of financial responsibility across Member States; |
Or. en
Amendment 587
Pierre Pimpie
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Recognises the strategic importance of strengthening defence capabilities in response to growing geopolitical threats; stresses that defence investment must remain a national competence, while encouraging voluntary cooperation among Member States, notably through joint procurement on a case-by-case basis and preferential support for European defence industries; opposes any mandatory pooling of defence budgets or the creation of EU-level defence funding instruments that would reduce Member States’ budgetary autonomy. |
Or. en
Amendment 588
Markus Ferber
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; takes note of the Commission’s proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; |
Or. en
Amendment 589
Dirk Gotink
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; notes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the precautionary credit lines of European Stability Mechanism; stresses that increased defence spending of Member States should go hand-in-hand with structural reforms, fiscal stability and sustainable public debt; |
Or. en
Amendment 590
Auke Zijlstra
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; rejects the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Member States to comply with the 2% defence investment guideline within the framework of the Growth and Stability Pact and make the necessary cuts in other areas, such as migration and development aid; |
Or. en
Amendment 591
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; takes note of the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism, develop private investment solutions, and leverage private capital for defence; |
Or. en
Amendment 592
Fernand Kartheiser, Kristoffer Storm, Nora Junco García, Diego Solier, Adrian-George Axinia, Georgiana Teodorescu
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; takes note of the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also examine whether the European Stability Mechanism could contribute to these efforts in euro area countries; |
Or. en
Amendment 593
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; recalls that the effective development of defence capabilities relies on joint investment at EU level, which ensures interoperability and generates efficiency gains, rather than depending primarily on fragmented national spending through the coordinated activation of national escape clauses to enable defence-related investments; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; |
Or. en
Amendment 594
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; highlights that the integration of the ESM into the EU legal framework will enhance financial stability and ensure needed democratic oversight especially in case resources are mobilized in the area of defence; |
Or. en
Amendment 595
Christophe Gomart
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new SAFE financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; regrets, however, that the Commission has chosen to base its legislative proposal on Article 122 TFEU, which excludes consultation of Parliament; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; |
Or. fr
Amendment 596
Thomas Bajada, Evelyn Regner
Motion for a resolution
Paragraph 19
| Motion for a resolution | Amendment |
| 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; | 19. Believes that heightened defence needs due to geopolitical tensions require immediate mobilisation of financial support without prejudice to the specific character of the security and defence policy of certain Member States, especially those adhering to a neutrality status; welcomes the Commission’s upcoming proposal for a new financial instrument of up to EUR 150 billion to boost EU defence capabilities as part of the ReArm Europe plan; calls on the Commission and the Member States to also set up a dedicated instrument under the European Stability Mechanism; |
Or. en
Amendment 597
Marco Falcone, Fulvio Martusciello
Motion for a resolution
Paragraph 19 a (new)
| Motion for a resolution | Amendment |
| 19a. Stresses the need to look into whether to use new common debt instruments, given the urgency of strengthening security and defence to protect European citizens, as well as restoring the EU's deterrence capability, with a view to affording the Union the necessary budgetary capacity to address exceptional and crisis situations, both present and future, and taking due account of experiences and lessons learned from NextGenerationEU; emphasises that the burden of such action must be shared fairly among Member States; |
Or. it
Amendment 598
Rasmus Andresen
Motion for a resolution
Paragraph 19 a (new)
| Motion for a resolution | Amendment |
| 19a. Takes notes of the activation of the “national escape clause” to enable Member States to increase their defence spending, only few months after the adoption of the revised economic governance rules; Considers that this demonstrates that these rules are not fit for purpose and constrain too much Member States' investments, penalising EU productivity, growth and sustainability; Calls for a reform of the EU debt and deficit rules to enable Member States to make the necessary investments to achieve EU long-term objectives; |
Or. en
Amendment 599
Giovanni Crosetto, Denis Nesci, Francesco Ventola
Motion for a resolution
Paragraph 19 a (new)
| Motion for a resolution | Amendment |
| 19a. Notes that the complexity and fragmentation of EU public financing instruments, marked by numerous programmes, overlapping objectives and varying eligibility rules, undermine the accessibility and effectiveness of support, particularly for private actors and innovative enterprises; calls on the Commission to streamline procedures, enhance coherence among funding instruments, and reduce administrative burdens to improve the overall impact of EU public investment; |
Or. en
Amendment 600
Irene Tinagli
Motion for a resolution
Paragraph 19 a (new)
| Motion for a resolution | Amendment |
| 19a. Regrets that the Union has not undertaken a more European and coordinated approach in the field of defence, missing an opportunity to strengthen its strategic autonomy through joint procurement programmes based on common European projects and avoiding duplication of spending; |
Or. en
Amendment 601
Enikő Győri, Pierre Pimpie, Jorge Martín Frías
Motion for a resolution
Paragraph 19 a (new)
| Motion for a resolution | Amendment |
| 19a. Regrets that the Commission instead of coming up with real long-term, structural solution to develop European defence capabilities, proposed another joint borrowing of EUR 150 billion, putting further reckless financial pressure on the EU taxpayers; |
Or. en
Amendment 602
Rasmus Andresen
Motion for a resolution
Paragraph 19 b (new)
| Motion for a resolution | Amendment |
| 19b. Regrets that Member States continue to provide subsidies for fossil fuel consumption and production that act as a negative carbon price and can have considerable welfare costs, as highlighted by the IMF; Urges the Commission to explicitly prescribe their phase-out from the national budget in the country-specific recommendations; Highlights that the phase-out of fossil fuel subsidies will free up additional resources for Member States enabling them to invest in more productive, sustainable and socially just activities; |
Or. en
Amendment 603
Irene Tinagli
Motion for a resolution
Paragraph 19 b (new)
| Motion for a resolution | Amendment |
| 19b. Calls on the European Commission to promote a fully coordinated approach in defence spending, through common strategic objectives and a dedicated European defence investment facility based on grants and loans, with a view to enhancing interoperability, reducing fragmentation, and increasing efficiency; |
Or. en
Amendment 604
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | deleted |
Or. en
Amendment 605
Regina Doherty
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Stresses that the dilution of EU State aid rules that occurred in recent years has created huge imbalances in the Single Market, particularly in the area of financial state aid; highlights that financial subsidies are an expensive and often inefficient way to support big market players mainly at the expense of true competition and innovation; recalls that financial subsidies only benefit those Member States that have the resources to spend large amounts of money; |
Or. en
Amendment 606
Auke Zijlstra
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Recalls that the European Investment Bank Group is owned by the Member States; warns that a more risk-taking lending and investment policy would increase risk exposure of the Member States and therefore national budgets; underlines that high-risk investment are not necessarily high-yield investments; underlines that risks in the EU are intertwined with a hostile regulatory and monetary environments, and low yields in the EU are partly explained by extremely high energy prices, compliance costs and labour costs; |
Or. en
Amendment 607
Pierre Pimpie
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies. |
Or. en
Amendment 608
Michalis Hadjipantela
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Welcomes the recent EIB Group approval of €3.6 billion for clean transport, energy, water, housing, and innovation projects, as well as the decision of the EIB Group to step up financing for European security and defence and critical raw materials; encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, in innovative companies and projects fostering the twin transition, as well as, to support smaller-scale projects and enterprises, which are essential for enhancing competitiveness and fostering inclusive economic development across all Member States; |
Or. en
Amendment 609
Fernando Navarrete Rojas, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in start-up and scale-up companies; |
Or. en
Amendment 610
Enikő Győri, Pierre Pimpie, Jorge Martín Frías
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects; |
Or. en
Amendment 611
Markus Ferber
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies while safeguarding its triple-A rating; |
Or. en
Amendment 612
Dirk Gotink
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects in strategic sectors; |
Or. en
Amendment 613
Fernand Kartheiser, Geadis Geadi, Kristoffer Storm, Nora Junco García, Diego Solier, Adrian-George Axinia, Georgiana Teodorescu
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to investments in innovative companies and projects fostering the digital transition; |
Or. en
Amendment 614
Ľudovít Ódor, Billy Kelleher
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green and digital transition, security and defence; emphasizes the potential of the EIB Group to bolster the development and sustainability of the EU securitisation market; |
Or. en
Amendment 615
Sirpa Pietikäinen
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments for example in the use of more sub-ordinated debt and risk-sharing instruments, mostly in innovative companies and projects fostering the green transition; |
Or. en
Amendment 616
Johan Van Overtveldt
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering sectors such as, but not limited to, defence and security and the green transition; |
Or. en
Amendment 617
Christophe Gomart
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition and the Union’s strategic autonomy, particularly in terms of defence. |
Or. fr
Amendment 618
Lídia Pereira, Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the digital and green transition; |
Or. en
Amendment 619
Thomas Bajada
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green and social transition; |
Or. en
Amendment 620
Rasmus Andresen
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Stresses that the EIB is pivotal to enable the necessary investments for a fair inclusive sustainable growth maximising innovation gains in key EU policy areas; Encourages the EIB to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; highlights that the Draghi report calls for more public guarantee and counter-guarantee schemes to cover investments risks of clean technology manufacturing projects; urges the EIB to uphold its role as the climate bank and to continue prioritizing investments in cleantech; |
Or. en
Amendment 621
Kinga Kollár
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Points out that the European Investment Bank is entitled to determine its capital and liquidity requirements adequately and appropriately to its activities, its mission and the market conditions; encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition, since it has the capacity to take on more risk in strategic investments and is well-equipped to invest more in higher-risk innovative projects where private capital remains hesitant; |
Or. en
Amendment 622
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Welcomes the EIB's commitment, outlined in its 2024–2027 Strategic Roadmap, to help advance the CMU by directing EU savings toward productive investments and supporting innovative European companies; Encourages the EIB to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; recalls the duty of the EU public bank to support long-term transition projects that meet difficulty to get funding from the private sector; |
Or. en
Amendment 623
Arba Kokalari
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; stresses the need to simplify and streamline lending processes to reduce administrative burden and complexity for companies and projects, which may otherwise be discouraged from seeking financing due to complex procedures, high compliance costs and regulatory uncertainty; |
Or. en
Amendment 624
Stéphanie Yon-Courtin, Gilles Boyer, Pascal Canfin, Billy Kelleher, Anouk Van Brug
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; welcomes in that regard the Council Decision (EU) 2025/504 of 11 March 2025 to amend the Protocol No 5 of the EIB Statute, enabling the EIB to increase its lending capacity in strategic areas, like the European defence industry; |
Or. en
Amendment 625
Ralf Seekatz
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; calls for a review of the mandates and financing policies of the EIB and other development banks with the aim to maximize private sector engagement in financing the economy and infrastructure; |
Or. en
Amendment 626
Engin Eroglu
Motion for a resolution
Paragraph 20
| Motion for a resolution | Amendment |
| 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; | 20. Encourages the European Investment Bank Group to adapt its lending policy to provide greater support to higher risk investments, mostly in innovative companies and projects fostering the green transition; underscores the need, however, to ensure strong accountability, cost-effectiveness and sound financial management in the process; |
Or. de
Amendment 627
Christophe Gomart
Motion for a resolution
Paragraph 20 a (new)
| Motion for a resolution | Amendment |
| 20a. Welcomes the joint initiative of the European Commission and the EIB Group to set up a fund of funds called the ‘Defence Equity Facility’, with a budget of EUR 175 million for the period 2024-2027, to support private investment in European SMEs developing innovative dual-use defence technologies; encourages the EIB to at least double the volume of this fund to meet the equity financing needs of European Defence Technological and Industrial Base (EDTIB) companies, estimated at between EUR 6.8 and 20 billion by 2030, to meet the increase in orders anticipated under the ReArm Europe plan; |
Or. fr
Amendment 628
Irene Tinagli
Motion for a resolution
Paragraph 20 a (new)
| Motion for a resolution | Amendment |
| 20a. Stresses that, in the context of the forthcoming Competitiveness Fund, particular attention should be paid to the design of financial instruments that are capable of addressing not only market-based and high-return investments, but also socially impactful projects characterised by high risk, long time horizons, or limited profitability — such as those in the fields of social innovation, affordable and social housing, and social infrastructure —essential to strengthening the EU’s social and territorial cohesion, as a precondition for enhancing the Union’s competitiveness yet often fall outside the scope of traditional revenue-sharing or return-based mechanisms; |
Or. en
Amendment 629
Jussi Saramo, Gaetano Pedulla', Pasquale Tridico
Motion for a resolution
Paragraph 20 a (new)
| Motion for a resolution | Amendment |
| 20a. Notes that any functioning CMU depends on a robust payment architecture; strongly believes that the introduction of the digital euro would strengthen the monetary sovereignty of the EU amid heightening geo-economic rivalries; notes the risks to the European payment system, such as those posed by the rapid emergence of stablecoins and other private means of payment; believes that the digital euro, as a complement to physical forms of cash, would increase the resilience of the payment system, benefit both consumers and merchants, usher in innovative payment solutions and eliminate friction in the capital markets; |
Or. en
Amendment 630
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 20 a (new)
| Motion for a resolution | Amendment |
| 20a. Supports the increased use of direct and indirect equity and quasi equity financing by the EIB including through the European Investment Fund, to foster investment in companies and funds, notably via venture capital and venture debt; emphasises that such investments must consistently align with the Union’s priorities, notably by promoting invention and innovation and advancing the environmental transition; |
Or. en
Amendment 631
Sirpa Pietikäinen
Motion for a resolution
Paragraph 20 a (new)
| Motion for a resolution | Amendment |
| 20a. Calls for greater risk-absorbing capacity and funding instruments from EU and national public funding to help scale clean technology solutions towards industrial and commercial levels in order to attract private investors, while ensuring that public financiers do not assume an overly dominant gatekeeper role in the process; |
Or. en
Amendment 632
Anouk Van Brug, Engin Eroglu, Stéphanie Yon-Courtin
Motion for a resolution
Paragraph 20 a (new)
| Motion for a resolution | Amendment |
| 20a. Reiterates its call on the Member States to adjust the EIB’s exclusion list so that weapons and ammunition are no longer excluded from EIB financing; |
Or. en
Amendment 633
Sirpa Pietikäinen
Motion for a resolution
Paragraph 20 b (new)
| Motion for a resolution | Amendment |
| 20b. Encourages the increased allocation of funds by institutional investors towards alternative investments, including venture capital alongside traditional equity, noting that even a fraction of a percent of their multi-trillion-euro assets could significantly boost investment in support of the green transition, without endangering their assets; |
Or. en
Amendment 634
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 20 b (new)
| Motion for a resolution | Amendment |
| 20b. Considers the EIB new TechEU investment programme as a way to support disruptive innovation, strengthen Europe’s industrial capacity and scale up companies, by closing the funding gap for the whole value chain from research to innovation; |
Or. en
Amendment 635
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 20 c (new)
| Motion for a resolution | Amendment |
| 20c. Points out that innovation does not only exist in the field of new technologies and calls on the EIB to increase its support to innovative social investments; |
Or. en
Amendment 636
Sirpa Pietikäinen
Motion for a resolution
Paragraph 20 c (new)
| Motion for a resolution | Amendment |
| 20c. Expresses concern over references to the simplification of derivatives markets or the shifting of responsibility back to market participants; |
Or. en
Amendment 637
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 20 d (new)
| Motion for a resolution | Amendment |
| 20d. Calls on Member States to increase coordination among National Promotional Banks with the aim to focus financing in support of innovative and strategic investments; |
Or. en
Amendment 638
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 20 e (new)
| Motion for a resolution | Amendment |
| 20e. Calls on the EIB to include in its contractual covenants a requirement for financial intermediaries to provide comprehensive and transparent reporting on the final beneficiaries of EIB loans, as well as on the impact metrics achieved, including clear indicators of social, environmental, and economic outcomes in order to guarantee that public support delivers on the intended purpose and Union objectives; |
Or. en
Amendment 639
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 20 f (new)
| Motion for a resolution | Amendment |
| 20f. Urges the EIB to ensure that, in programs primarily aimed at increasing liquidity for banks, financial intermediaries establish clear and enforceable agreements with the EIB, including quantifiable commitments to ensure that EIB funds effectively reach the intended target groups, such as SMEs, mid-caps, and projects of high social and economic value; |
Or. en
Amendment 640
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Niels Fuglsang, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 20 g (new)
| Motion for a resolution | Amendment |
| 20g. Believes that public support for investment extends beyond access to finance and should also encompass technical assistance, project management, capacity-building, research commercialization, support for accessing private finance, and fostering cooperation between universities and venture capital to drive innovation and competitiveness; |
Or. en
Amendment 641
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 20 h (new)
| Motion for a resolution | Amendment |
| 20h. Calls for the future Competitiveness Fund and/or any successor to the InvestEU programme to be designed to include dedicated financial support for high-risk, high-reward innovations, recognising their potential to drive breakthrough advancements and reinforce the EU’s global technological leadership; |
Or. en
Amendment 642
Enikő Győri, Pierre Pimpie, Jorge Martín Frías
Motion for a resolution
Paragraph 21
| Motion for a resolution | Amendment |
| 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; | deleted |
Or. en
Amendment 643
Isabel Benjumea Benjumea, Fernando Navarrete Rojas
Motion for a resolution
Paragraph 21
| Motion for a resolution | Amendment |
| 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; | deleted |
Or. en
Amendment 644
Fernand Kartheiser, Kristoffer Storm, Nora Junco García, Diego Solier
Motion for a resolution
Paragraph 21
| Motion for a resolution | Amendment |
| 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; | deleted |
Or. en
Amendment 645
Markus Ferber
Motion for a resolution
Paragraph 21
| Motion for a resolution | Amendment |
| 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; | deleted |
Or. en
Amendment 646
Regina Doherty
Motion for a resolution
Paragraph 21
| Motion for a resolution | Amendment |
| 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; | 21. Calls on the Commission to establish a dedicated Competitiveness Unit to continually identify unnecessary regulatory burdens or bottlenecks that reduce European competitiveness and make recommendations for their removal, including at Member State level; stresses the need for every new legislative proposal to be subjected to a competitiveness test and rigorous impact assessments; |
Or. en
Amendment 647
Auke Zijlstra, Enikő Győri
Motion for a resolution
Paragraph 21
| Motion for a resolution | Amendment |
| 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; | 21. Calls on the Commission to establish an EU Department of Government Efficiency to identify European overregulation, regulatory burdens, compliance costs and to slash them ambitiously, to address these challenges from an EU perspective; |
Or. en
Amendment 648
Sirpa Pietikäinen
Motion for a resolution
Paragraph 21
| Motion for a resolution | Amendment |
| 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; | 21. Calls on the Commission to establish an economic intelligence unit to identify European needs for sustainable technologies, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; |
Or. en
Amendment 649
Thomas Bajada
Motion for a resolution
Paragraph 21
| Motion for a resolution | Amendment |
| 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; | 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, the creation of a retail investor culture, and to address these challenges from an EU perspective; |
Or. en
Amendment 650
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 21
| Motion for a resolution | Amendment |
| 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; | 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; stresses the importance of integrating this unit’s work into the future Competitiveness Coordination Tool and linking it with the Competitiveness Fund to ensure effective solutions to industrial challenges across the Union; |
Or. en
Amendment 651
Engin Eroglu
Motion for a resolution
Paragraph 21
| Motion for a resolution | Amendment |
| 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, to address these challenges from an EU perspective; | 21. Calls on the Commission to establish an economic intelligence unit to identify European industrial needs, shortages and market opportunities and to produce recommendations, including on financing, in the interests of cutting red tape and boosting the competitiveness of European market operators, so as to address these challenges from an EU perspective; |
Or. de
Amendment 652
Arba Kokalari
Motion for a resolution
Paragraph 21 (new)
| Motion for a resolution | Amendment |
| 21a. Calls on the Commission to place greater emphasis on Savings and Investment Union priorities in the European Semester, ensuring that structural reforms and measures to deepen and integrate EU capital markets are consistently encouraged, monitored and evaluated; |
Or. en
Amendment 653
Sirpa Pietikäinen
Motion for a resolution
Paragraph 21 a (new)
| Motion for a resolution | Amendment |
| 21a. Calls on the Commission to establish a comprehensive financial literacy strategy to provide European citizens with the knowledge and skills to make informed investment decisions, thereby enhancing participation in capital markets and supporting long-term financial security as this literacy is essential to building an investment mind-set that complements statutory pensions and savings accounts, positioning capital markets as a key pillar of personal financial well-being; |
Or. en
Amendment 654
Pascal Canfin, Stéphanie Yon-Courtin, Gilles Boyer
Motion for a resolution
Paragraph 21 a (new)
| Motion for a resolution | Amendment |
| 21a. Calls on the European Commission, in the upcoming review of the EU long-term budget, to dedicate a sizable budget to de-risk private investments made by institutional investors in innovative technologies; |
Or. en
Amendment 655
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Eero Heinäluoma, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 21 a (new)
| Motion for a resolution | Amendment |
| 21a. Requests that the Commission incorporate specific measures to promote venture capital in the future Competitiveness Fund, the TechEU Programme, or any similar initiative; |
Or. en
Amendment 656
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 21 b (new)
| Motion for a resolution | Amendment |
| 21b. Recognises the role of state aid in supporting the development of the European industry; considers, however, that state aid can lead to further fragmentation of the Single Market, more than 70% of approved state aid was allocated to 3 countries in 20221a; calls on the Commission to assess the Letta’s report proposal for a State aid contribution mechanism, which would require Member States to allocate a portion of their national state aid to finance pan-European initiatives and investments; views such a mechanism as a potential solution for own resources to fund a European investment capacity, aimed at financing a pan-European industrial strategy; | |
| _________________ | |
| 1a Competition State aid brief, Issue 1/2023 – July 2023 |
Or. en
Amendment 657
Sirpa Pietikäinen
Motion for a resolution
Paragraph 21 b (new)
| Motion for a resolution | Amendment |
| 21b. Welcomes the provision that, upon the entry into force of the laws, willing Member States may move forward as a group, similar to the eurozone model, and highlights references to more closely integrating investment considerations into the European Semester as a valuable means of monitoring the strengthening and development of capital markets; |
Or. en
Amendment 658
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 21 c (new)
| Motion for a resolution | Amendment |
| 21c. Notes that the Commission will publish a SIU mid-term review by Q2 2027; |
Or. en
Amendment 659
Aurore Lalucq
on behalf of the S&D Group
Jonás Fernández, René Repasi, Evelyn Regner, Niels Fuglsang, Claire Fita, Carla Tavares, Thomas Bajada, Francisco Assis, Lara Wolters
Motion for a resolution
Paragraph 21 d (new)
| Motion for a resolution | Amendment |
| 21d. Stresses that Parliament should be adequately involved in implementing the SIU; calls on the Commission to engage in early discussions in the field of CMU and financial services prior to new proposals and any adjustments to existing ones; |
Or. en