Document stages in plenary
Document selected : B7-0407/2012

Texts tabled :


Debates :

OJ 03/07/2012 - 14

Votes :

PV 04/07/2012 - 7.15
Explanations of votes
Explanations of votes

Texts adopted :

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to wind up the debate on statements by the Council and the Commission

pursuant to Rule 110(2) of the Rules of Procedure

on the conclusions of the European Council of 28 and 29 June 2012 (2011/2923(RSP))

Gabriele Zimmer on behalf of the GUE/NGL Group

European Parliament resolution on the conclusions of the European Council of 28 and 29 June 2012 (2011/2923(RSP))  

The European Parliament,

–   having regard to the conclusions of the European Council of 28/29 June 2012,

–   having regard to the Country Specific Recommendations from the European Commission of 30 May 2012,

–   having regard to Rule 110(2) of its Rules of Procedure,

A. whereas current economic and social crisis is the result of the European Union’s neoliberal policies of promoting de-regulated financial markets, of liberalized markets in products and services and the increasing financialisation of the economy as well as of reducing public investment and increasing labour market deregulation;

B.  whereas the anti-crisis measures of the EU will deepen the global capitalist crisis;

C. whereas unprecedented bailouts of financial institutions have taken place which have led to a massive socialisation of losses and high public deficits;

D. whereas the remedies pursued by the Council have failed; whereas austerity measures have significantly aggravated the economic and social crisis leading to wide-spread poverty, unemployment and the precarisation of employment structures;

E.  whereas democratic structures have been severely disrupted due to the excessive focus on austerity and so called ‘market discipline’ imposed by the troika;

F.  whereas socio-economic inequalities have significantly increased due to the continuous redistribution from wages to capital;

1.  Reiterates its criticism of the failed EU policy of austerity and supports any steps towards reversing it; considers the measures proposed by the Council to be completely insufficient for solving the crisis and for transforming the EU Member States into democratic and inclusive societies to the benefit of all citizens;

2.  Insists that budget planning and control remains a genuine task of democratically elected parliaments and governments of the EU Member States;

3.  Notes that the Council still adheres to the failed policies as prescribed in the economic governance packages, i.e. the six pack and two pack;

4.  Regrets that the country specific recommendations under the European Semester have been adopted; strongly opposes the European Semester process and the related macroeconomic recommendations; is highly concerned that the implementation of these recommendations will even further increase the socio-economic disparities as the proposed measures will especially have negative impacts on the most vulnerable people in our societies;

5.  Reiterates demands for an un-conditional write-down of public debt as well as direct intervention of the ECB on primary bond markets in order to free the states of the dictates of the financial markets;

6.  Regrets that the so called ‘compact for growth and jobs’ is mainly a repetition of already existing policies which is unlikely to have a lasting effect on solving the capitalist crisis;

7.  Stresses the urgency for a social and ecological transformation of European economies since a failure to do so will inevitably lead to further economic decline and wide-spread poverty;

8.  Reminds the Council that economic growth is a prerequisite for well-being but not well-being in itself and therefore increasing emphasis must be placed on qualitative, sustainable and inclusive growth, to which every citizen, in particular poor and marginalised groups, should be able to contribute to and to benefit from;

9.  Calls on the member states to distribute wealth evenly in the European Union by fighting tax evasion, by introducing taxes on wealth, by increasing income taxes for those on the highest incomes, and by taxing the financial sector and their speculative financial products;

10. Recalls that the financial industry and their overly complex speculative financial products have significantly contributed to the economic crisis the world is confronted with; reminds that taxpayers had to bail-out at an unprecedented level financial institutions which have benefitted massively from exorbitant profits;

11. Regrets the delay of European leaders with regard to better supervision of financial markets and their players; recalls that the left forces have always demanded strict public control of these markets and their instruments;

12. Believes that stricter supervision of financial institutions can only be a very first step towards genuine public control of the financial sector; reconfirms the need for a drastic downsizing of the financial industry so that it can start supporting the real economy rather than creating speculative bubbles;

13. Reiterates its demands that banks and other financial players, which have made massive profits with only limited added value to the society as a whole, need to contribute adequately to solving the crisis they have created;

14. Insists on the European Parliament demands that political positions agreed by the European Council, be negotiated between Parliament and the Council, as well as National Parliaments, before the Council formally submits its proposals with a view to obtaining Parliament’s consent on the MFF regulation pursuant to Article 312 TFEU; underlines that the negotiations on the legislative proposals relating to the multiannual programmes must be pursued under the ordinary legislative procedure and will be finalised once an agreement on their financial envelopes is reached; is determined to make full use, as appropriate, of its consent and ordinary legislative powers, as enshrined in the Treaty; reiterates that it is very much concerned that the conclusions of the European Council could pre-empt the legislative negotiations;

15. Reiterates its position that the Union budget must be guaranteed with the adequate level of resources’ both in what concerns next years budget as well as the next MFF 2014/2020;

16. Instructs its President to forward this resolution to the Council, the Commission and to the parliaments of the Member States.

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