MOTION FOR A RESOLUTION on monetary sovereignty

1.2.2016

pursuant to Rule 133 of the Rules of Procedure

Edouard Ferrand, Bernard Monot, Gilles Lebreton

B8-0233/2016

Motion for a European Parliament resolution on monetary sovereignty

The European Parliament,

–  having regard to Rule 133 of its Rules of Procedure,

A.  whereas Switzerland is preparing to hold a referendum, known as the Vollgeld or 'full money' initiative, on the nationalisation of the power to create money;

B.  whereas only the Swiss National Bank (SNB) would then be able to create money;

C.  whereas private banks would not be authorised to create money;

D.  whereas this is an important measure designed to safeguard the economy against financial speculation;

1.  Notes that through the 'full money' initiative, all cash assets would be guaranteed by the State, which would thus once again exercise monetary sovereignty;

2.  Calls on all the EU institutions – including, of course, the European Central Bank – to consider adopting this monetary policy to guarantee a high degree of economic stability and security in the Member States.