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pursuant to Rule 133 of the Rules of Procedure

on the structural saving-over-investment surplus in the eurozone

Sophie Montel, Florian Philippot

Motion for a European Parliament resolution on the structural saving-over-investment surplus in the eurozone  

The European Parliament,

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

A.  whereas Germany's current account surplus is now equivalent to more than 9.8% of GDP;

B.  whereas that surplus is the result of a number of structural factors, including population ageing (which has an impact on savings and growth potential), the predominant role of industry and the fact that there is no public deficit;

C.  whereas the surplus is the reflection of a structural imbalance brought about by a single currency that is exacerbating differences between the economies of the eurozone countries;

D.  whereas, as a result of this, EU production capacity is being concentrated in the eurozone's core, which in turn is generating current account and revenue disparities between the Member States;

1.  Calls on the Commission and the Member States to take new fiscal policy measures to boost investment in public infrastructure, with a view to correcting the imbalance between saving and investment;

2.  Insists that the Commission should stop promoting 'beggar-thy-neighbour' policies.

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