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Procedure : 2016/2101(INI)
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Document selected : A8-0309/2016

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PV 25/10/2016 - 15
CRE 25/10/2016 - 15

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PV 26/10/2016 - 6.7
CRE 26/10/2016 - 6.7
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Wednesday, 26 October 2016 - Strasbourg
European Semester for economic policy coordination: implementation of 2016 priorities

European Parliament resolution of 26 October 2016 on the European Semester for economic policy coordination: implementation of 2016 priorities (2016/2101(INI))

The European Parliament,

–  having regard to the Treaty on the Functioning of the European Union (TFEU), in particular Articles 121(2) and 136 thereof,

–  having regard to the Commission communication of 18 May 2016 on the 2016 country-specific recommendations (COM(2016)0321),

–  having regard to the European Council conclusions of 28 and 29 June 2016 (EUCO 26/16),

–  having regard to its resolution of 25 February 2016 on the European Semester for economic policy coordination: Annual Growth Survey 2016(1),

–  having regard to the Commission communication of 7 April 2016 entitled ‘2016 European Semester: Assessment of progress on structural reforms, prevention and correction of macroeconomic imbalances, and results of in-depth reviews under Regulation (EU) No 1176/2011’ (COM(2016)0095),

–  having regard to the Commission reports entitled ‘Annual Growth Survey 2016’ (COM(2015)0690), ‘Alert Mechanism Report 2016’ (COM(2015)0691) and ‘Draft Joint Employment Report’ (COM(2015)0700), to the Commission recommendation for a Council Recommendation on the economic policy of the euro area (COM(2015)0692), and to the Commission proposal of 26 November 2015 for a regulation of the European Parliament and of the Council on the establishment of the Structural Reform Support Programme for the period 2017 to 2020 (COM(2015)0701),

–  having regard to the Five Presidents’ Report of 22 June 2015 entitled ‘Completing Europe’s Economic and Monetary Union’,

–  having regard to its resolution of 24 June 2015 on the review of the economic governance framework: stocktaking and challenges(2),

–  having regard to its resolution of 1 December 2011 on the European Semester for Economic Policy Coordination(3),

–  having regard to the Commission communication of 13 January 2015 entitled ‘Making the best use of the flexibility within the existing rules of the Stability and Growth Pact’ (COM(2015)0012),

–  having regard to Regulation (EU) 2015/1017 of the European Parliament and of the Council of 25 June 2015 on the European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013 – the European Fund for Strategic Investments(4),

–  having regard to the Commission communication of 26 November 2014 entitled ‘An Investment Plan for Europe’ (COM(2014)0903),

–  having regard to the Commission Green Paper of 18 February 2015 entitled ‘Building a Capital Markets Union’ (COM(2015)0063),

–  having regard to the Commission communication of 17 June 2015 entitled ‘A Fair and Efficient Corporate Tax System in the European Union: 5 Key Areas for Action’ (COM(2015)0302),

–  having regard to its resolutions of 5 February 2013(5) and 15 September 2016(6) on improving access to finance for SMEs,

–  having regard to Rule 52 of its Rules of Procedure,

–  having regard to the report of the Committee on Economic and Monetary Affairs and the opinions of the Committee on Employment and Social Affairs, the Committee on the Internal Market and Consumer Protection, the Committee on Regional Development and the Committee on Culture and Education (A8-0309/2016),

A.  whereas the Commission’s spring 2016 forecast indicates expected growth rates of 1,6 % for the euro area and 1,8 % for the EU in 2016;

B.  whereas Europe still faces a major investment deficit, and the need is to increase internal demand and correct macroeconomic imbalances, while further increasing investment in the EU;

C.  whereas unemployment in general (and structural unemployment in particular) in the EU remains one of the main challenges that Member States are facing, as it currently stands at a very high rate (10,5 million long-term unemployed in the EU); whereas even if the numbers have improved slightly compared with previous years, youth unemployment and unemployment rates overall in the European periphery are still significantly higher than the average rate in the EU as a whole;

D.  whereas falling oil prices and slow economic growth at the start of 2016 appear to be additional factors in dragging down the inflation rate to below zero levels;

E.  whereas political developments such as the result of the UK’s referendum and relations with Russia, as well as uncertainties in global economic developments, have further served to inhibit investment;

F.  whereas the influx of refugees into Member States has also strained investment in the Member States;

G.  whereas the European Semester recommendations to Member States have a similar responsiveness rate among Member States as the unilateral OECD recommendations (29 % vs 30 % in 2014);

H.  whereas the European Parliament, in its resolution on the Annual Growth Survey 2016, while emphasising the need for a specific focus on the euro area, welcomed the improved policy mix; moreover, it stressed the importance of increased investment, sustainable reforms and fiscal responsibility aiming to further promote higher growth levels and the recovery in Europe;

Europe’s challenge in the context of the global economic slowdown

1.  Notes with concern that the EU economy will grow less than expected on the basis of the European economic spring forecast 2016, as GDP in the eurozone is expected to increase by only 1,6 %, reaching 1,8 % by 2017

2.  Stresses that the challenges in the EU are linked to the deteriorating international environment, the failure to implement sustainable reforms and the divergences in the economic and social performance in different parts of the Union; underlines the need to improve growth, cohesion, productivity and competitiveness; considers that lack of sustainable investment and the shortcomings in completing the single market are depriving the EU of its full growth potential;

3.  Welcomes the Commission’s focus in its 2016 country-specific recommendations (CSRs) on the three main priorities to further strengthen economic growth: supporting investment for innovation, growth and job creation, pursuing socially balanced structural reforms and encouraging responsible public finances; stresses, however, that the Commission should do more to bolster fiscal sustainability in line with the Stability and Growth Pact, while making full use of its flexibility clauses, in line with the Commission communication of 13 January 2015 (COM(2015)0012);

4.  Recognises the importance of coherence between cohesion policy instruments and the wider economic governance framework, with a view to supporting the recovery efforts needed to achieve compliance with the European Semester rules; underlines, however, that the legitimacy of cohesion policy derives from the Treaties, and that this policy is the expression of European solidarity, having as its main objectives strengthening economic, social and territorial cohesion in the EU by reducing disparities between the levels of development of the various regions, financing investment linked to Europe 2020 goals and bringing the EU closer to its citizens; is therefore of the opinion that measures linking the effectiveness of ESI Funds with sound economic governance should be applied judiciously and in a balanced way, but only as a last resort, and that their effects should be reported; recalls, moreover, that the application of such measures should always be justified, transparent and take into consideration the economic and social circumstances of the Member State concerned, in order to avoid restricting regional and local investments, which are absolutely essential for the Member States’ economies, particularly for small and medium-sized enterprises (SMEs), as these investments maximise growth and job creation and stimulate competitiveness and productivity, especially in times of strong pressure on public expenditure; as regards the cases of the two Member States that were the subject of Council decisions of 12 July 2016, which triggered sanctions under the excessive deficit procedure on the basis of Article 126(8) of the Treaty on the Functioning of the European Union (TFEU), points to the Commission proposal of 27 July 2016 and the subsequent Council decision of 8 August 2016 to cancel the fines which could have been imposed, taking into account the Member States’ reasoned requests, the challenging economic environment, both countries’ reform efforts and their commitments to comply with the rules of the Stability and Growth Pact; believes, in this context, that the proposal to suspend part of the 2017 commitments for the ESI Funds under the measures linking their effectiveness to sound economic governance should take into consideration the views of Parliament, expressed during the Structured Dialogue;

5.  Welcomes the Commission’s continuing approach of limiting the number of recommendations and its effort to streamline the semester by covering mainly key priority areas of macroeconomic and social relevance when setting the policy objectives for the next 18 months; reiterates that this facilitates the implementation of recommendations on the basis of the comprehensive and meaningful range of existing economic and social benchmarks; stresses that a reduction in the number of recommendations should also lead to a better thematic focus; stresses the need to reduce economic disparities and achieve upward convergence between Member States;

6.  Fully supports the efforts made to ensure greater national ownership in the formulation and implementation of CSRs as an ongoing reform process; considers that, in order to increase national ownership and foster the effective implementation of CSRs, and in view of the fact that local and regional authorities have to implement more than half of CSRs, these should be clearly articulated around well-defined and structured priorities at European level, involving national parliaments, regional and local authorities where appropriate; reiterates that, in view of the distribution of powers and competences in various Member States, delivery on the Country-Specific Recommendations might improve with the active participation of local and regional authorities and, to this end, supports the proposal of a code of conduct for the involvement of the local and regional authorities in the European Semester as suggested by the Committee of the Regions; calls on the Member States to ensure a proper democratic scrutiny of their National Reform Programmes in their respective national parliaments;

7.  Stresses that Europe’s long economic crisis has highlighted the strong need to facilitate investment in areas such as education, innovation and research and development, while enhancing the EU`s competitiveness by pursuing sustainable structural reforms to boost quality job creation, implementing responsible fiscal policies to create a better environment for jobs, businesses (especially SMEs) and investment; notes the impact of the European Fund for Strategic Investment after one year of functioning; stresses the importance of reinforcing the take-up of the EFSI in less developed and transition regions and the truly additional character of its investments while stepping up efforts to develop Investment Platforms, including at regional level;

8.  Underlines that the still-too-high unemployment rates, especially for youth unemployment, show that the capacity to create quality employment in several Member States is still limited, and emphasises that further action is needed, in consultation with the social partners and in accordance with national practices, in order to step up investment in skills, make labour markets more inclusive and reduce social exclusion and growing inequalities in income and wealth, while maintaining sound budgetary management; notes that support measures to facilitate access to financing, particularly for SMEs, is vital if the continuing high unemployment in many Member States is to be tackled effectively;

9.  Stresses that the current economic situation, which combines liquidity surplus with interest rates at the zero lower bound (ZLB), weak demand prospects, and restricted investment and spending by households and companies, requires the implementation of the renewed policy mix put forward by the Commission in order to create growth; notes that monetary policy alone is insufficient to stimulate growth when investments and sustainable structural reforms are lacking;

Priorities and objectives of the 2016 recommendations

10.  Highlights the Commission’s recommendation for three Member States to exit the excessive deficit procedure (EDP); agrees with the Commission that large and consistent current account surpluses hint at a need to stimulate demand and investment, in particular long-term investment, in order to cope with the challenges of the future regarding transport and communications, the digital economy, education, innovation and research, climate change, energy, environmental protection and the ageing population; calls on the Commission to continue to encourage responsible and sustainable budgetary policies that underpin growth and recovery in all Member States by putting more emphasis on investment and efficient public expenditure, and supporting sustainable and socially balanced structural reforms;

11.  Notes that further measures are needed to increase financing opportunities, notably for SMEs, and to reduce non-performing loans (NPLs), in the euro area and in conformity with EU legislation, in order to make bank balance sheets sounder and thereby increase the ability of banks to lend to the real economy; emphasises the importance of completing step-by-step and implementing the Banking Union and developing the Capital Markets Union in order to create a stable environment for investment and growth and avoid fragmentation of the euro area financial market;

12.  Underlines the fact that investment has so far lagged behind and failed to lead to sustainable and inclusive growth in the EU and to contribute to the improvement of the business environment; considers that monetary policy needs to be accompanied by appropriate fiscal policies aimed at improving growth in the EU, in line with the rules of the Stability and Growth Pact, including its flexibility clauses; notes that investments at sub-national government level have decreased strongly in recent years, but nevertheless still account for around sixty per cent of public investment in the EU; underlines that investment policy instruments such as the EFSI and ESIF require properly calibrated blending and complementarity between them in order to enhance the value added of Union spending by attracting additional resources from private investors; stresses, therefore, that the Structural Reform Support Programme (SRSP) should involve local and regional authorities when putting together the structural reform project in question;

Policy responses and conclusions

13.  Emphasises the need to improve the EU’s overall capacity to grow, create and sustain quality jobs and thus to tackle high levels of unemployment by creating a regulatory framework that is supportive of growth; considers that migration could play a role in compensating for the negative effects of the ageing population, depending on the ability of the Member States to better use migrants' skills and to adapt labour migration management systems to labour market needs;

14.  Highlights the importance of inclusive educational systems that foster innovation and creativity and teach skills relevant to the labour market, with particular reference to vocational education; notes that an appropriate trade-off, avoiding a race to the bottom in wages and employment standards, should be maintained between economic, social and human costs in accordance with the EU values of solidarity and subsidiarity, meanwhile keeping the focus on investment in human capital, research and development, the upgrading of educational systems and vocational education, including lifelong learning; considers that well-designed policies are needed to promote innovation, research and development in order to foster productivity, create steady sustainable growth and help address current structural challenges, thereby closing the innovation gap with other economies;

15.  Invites the Commission to give priority to measures that reduce the obstacles to greater investment flows and trade, which arise at EU level from a lack of clarity regarding the strategies that are to be followed, especially in the following fields: energy, transport, communications and the digital economy; notes the effect on bank lending in the wake of the adoption of the banking union, and at a national level, from cumbersome legal systems, corruption, lack of transparency in the financial sector, outdated bureaucracy, inadequate digitalisation of public services, misallocation of resources, the presence of barriers to the internal market in the banking and insurance sectors, and educational systems that remain out of synch with the requirements of the labour market and the completion of the single market;

16.  Deplores the fact that with regard to the Europe 2020 strategy, in which for the first time fighting poverty was part of an EU programme, the goal of reducing the scale of poverty in the Union will not be reached; considers that the goal of fighting poverty should be included right from the inception of EU policies;

17.  Underlines the importance of avoiding an excessive tax wedge on labour, given that excessive taxation diminishes incentives for the inactive, the unemployed, second earners and low-wage earners to return to employment;

18.  Takes note of the ongoing discussion between the Commission and the Member States on the methodology for the calculation of the output gap;

19.  Points out that efforts should be made to remove the remaining barriers to investment in the Member States and allow for a more suitable mix oriented towards policies fostering sustainable growth, including a genuine focus on research and development spending; believes that public and private support for research and higher education institutions are crucial factors for a more competitive European economy and that the weakness or absence of this infrastructure places certain countries at a massive disadvantage; stresses that there is no one-size-fits-all ideal EU innovation policy prescription but that in order to close the innovation-capacity divide in the EU, sufficiently differentiated innovation policies in Member States which build on the success stories that have already been attained are to be recommended;

20.  Welcomes the Agreement of the Paris climate conference (COP21) in December 2015 and calls on the Member States and the Commission to implement it;

Sectoral contributions to the European Semester 2016

Employment and Social Policies

21.  Considers that the Council and the Commission should aim to achieve that the fiscal consolidation processes are accompanied by measures that help to reduce inequalities, and highlights that the European Semester process should help to provide answers to existing and emerging social challenges, thus ensuring a more effective economy; points out that social investments in human capital must constitute core complementary action, since human capital is one of the factors of growth and a motor of competitiveness and development; requests that major structural reforms advocated by CSRs be accompanied by a social impact assessment regarding their short-term, medium-term and long-term effects with the aim of better understanding the social, economic and employment consequences, especially the impact on job creation and economic growth;

22.  Underlines that unemployment, and in particular youth unemployment, remains an overriding problem for European societies, and that according to the Commission unemployment has continued to gradually decrease, but remains above 2008 levels, with 21,2 million unemployed in April 2016 and huge differences among Member States; points out the need of qualitative and quantitative evaluation of the employment created, in order to avoid an increase of employment rates as a mere consequence of precarious employment or of a decrease in the labour force; notes that despite producing results in skills and knowledge, some Member States’ education and training systems do not perform internationally and present growing skill shortages, which contributes to the fact that 39 % of companies still have difficulties in finding staff with the required skills; insists that in the CSRs greater priority is given to overcoming structural imbalances on the labour market, including long-term unemployment and mismatch of skills, and underlines the need to further invest in and develop education and training systems, providing society with the tools and capacities to readapt to changing labour market demands;

23.  Points out that between 2008 and 2014 the numbers of people in the EU at risk of poverty and social exclusion rose by 4,2 million, reaching a total of over 22 million (22,3 %); notes that the Commission has stated that ‘most of the Member States are still facing the acute social legacy from the crisis’; calls for a stronger effort from the Commission and the Member States to reduce poverty, social exclusion and growing inequalities, in order to tackle the economic and social disparities between Member States and within societies; is of the opinion that combating poverty and social exclusion and reducing inequalities should be one of the priorities reflected in the CSRs, as being fundamental to achieving lasting economic growth and a socially sustainable rhythm of implementation;

24.  Recalls that, as stated by Parliament, socially responsible reforms must be based on solidarity, integration, social justice and a fair distribution of wealth, a model that ensures equality and social protection, protects vulnerable groups and improves living standards for all citizens;

25.  Believes that economic growth should guarantee a positive social impact; welcomes the introduction of the three new headline employment indicators in the macroeconomic scoreboard; reiterates the call for these to be placed on an equal footing with existing economic indicators, thereby guaranteeing that internal imbalances are better assessed and making structural reforms more effective; calls, in this sense, in order to avoid a selective application, for them to be allowed to trigger in-depth analyses, and for better understanding of the cause-effect linkage between policies and actions; proposes introducing a social imbalances procedure in the design of the CSRs so as to prevent a race to the bottom in terms of social standards, building on effective use of the social and employment indicators in macroeconomic surveillance; takes the view that in case of placing employment and economic indicators on an equal footing it should go hand in hand with upgrading the role of the EPSCO Council in the European Semester;

26.  Considers that the introduction of the three employment indicators shows that the European Employment Strategy, including the Employment Guidelines, is playing an important role in the EU economic governance process, but that more efforts need to be made, notably through the introduction of social indicators;

27.  Recognises that the Commission has initiated work on the establishment of a European Pillar of Social Rights, but recalls the need to deliver the results of the consultation process and to move forward with new effective steps which seek to deliver a deeper and fairer EU and should play an important role in addressing inequality; highlights, in this regard, the Five Presidents’ Report, which calls for greater, economic and social convergence, but recognises that there are no one-size-fits-all solutions; believes, in this sense, that each common policy should be adapted to each Member State; considers that European action should also address inequalities and income differences within Member States, and must do more than simply address the situation of those in greatest need;

28.  Recognises that the European Semester now has a stronger focus on employment and social performance; while respecting the Member States’ competences, calls on them to take urgent action to ensure decent work with a living wage, access to an adequate minimum income and social protection (which has already reduced the poverty rate from 26,1 % to 17,2 %) and quality public services, and advocates the development and establishment of a proper sustainable social security system; calls on the Commission to offer support and exchange of best practices with Member States in order to improve administrative capacity at national, regional and local level, since this is a key challenge for relaunching long-term investment and ensuring job creation and sustainable growth;

29.  Stresses that the provision and management of social security systems are a Member State competence which the Union coordinates but does not harmonise;

30.  Recognises that setting of wages is a Member State competence which must be respected in line with the principle of subsidiarity;

31.  Takes note of the fact that youth unemployment has decreased, but points out that it is still at incredibly high levels, with more than 4 million persons aged under 25 unemployed in the EU, 2,885 million of them in the euro area; regrets that more than three years after the launch of the Youth Employment Initiative, the results of the implementation of the Youth Guarantee are so uneven, and sometimes ineffective; calls on the Commission to present in October 2016 a thorough analysis of its implementation which can serve as the basis for the continuation of the programme;

32.  Recalls that in many Member States unemployment benefits are decreasing year after year, as a result of, among other factors, long-term unemployment, therefore increasing the number of people living under the poverty and social exclusion threshold; calls for the guaranteeing of adequate unemployment benefits enabling people to live with dignity and actions to ensure the smooth integration of these people in the labour market;

33.  Stresses the fact that the imbalances in pension systems are basically the consequence of unemployment, wage devaluation and labour precarisation; calls therefore for reforms which guarantee adequate financing for a strong first pension pillar which ensures decent pensions, at the very least at a level over the poverty threshold;

34.  Recalls once again that the free movement of people is fundamental to enhancing convergence and integration between European countries;

35.  Notes the increased number of recommendations (to five Member States) on minimum income regimes; however, taking into account that broad income inequalities are detrimental not only for social cohesion but also for sustainable economic growth (as both the IMF and the OECD have recently stated), calls on the Commission to deliver on the promise made by President Juncker in his inaugural address to provide an adequate income for all Europeans through a European minimum income framework to cover basic living costs, while respecting national practices and the subsidiarity principle;

36.  Is concerned at the increase in income inequalities linked partially to inefficient labour market reforms; calls on the Commission and the Member States to implement measures to improve job quality so as to reduce labour market segmentation, combined with measures raising minimum wages to a decent level and strengthening collective bargaining and the position of workers in wage-setting systems in order to reduce wage dispersion; warns that in recent decades corporate management has been receiving a greater share of economic benefits while workers’ wages have stagnated or have been reduced; considers that this excessive dispersion in wages increases inequalities and damages the productivity and competitiveness of companies;

37.  Is concerned at the fact that long-term unemployment is still high, standing at 10,5 million in the EU, and recalls that the integration of the long-term unemployed into the labour market is crucial to guarantee the sustainability of social protection systems, as well as for their self-confidence; therefore regrets the lack of action by the Member States in terms of implementing the Council recommendation on the integration of the long-term unemployed into the labour market; reiterates its call on the Commission to support efforts to create inclusive lifelong learning opportunities for workers and jobseekers of all ages and to take measures as soon as possible to improve access to EU funding, as well as mobilising additional resources where possible;

38.  Considers that social protection, including pensions and services such as healthcare, child care and long-term care, remains essential for balanced and inclusive growth, for a longer working life, for creating employment and for reducing inequalities; therefore calls on the Commission and the Member States to boost policies which guarantee the sufficiency, adequacy, efficiency and quality of social protection systems throughout the life cycle of a person, guaranteeing a decent life, fighting inequalities and boosting inclusion with the aim of eradicating poverty, especially for those excluded from the labour market and for the most vulnerable groups;

39.  Highlights the obstacles and barriers, both physical and digital, which persons with disabilities still encounter today; hopes that the Disability Act launched by the Commission will be promptly implemented and will focus effectively on specific measures to promote inclusion and access;

Internal Market

40.  Welcomes the large number of CSRs that support a well-functioning and integrated single market, including financing and investment opportunities which support businesses, and SMEs in particular, and help create jobs, e-government, public procurement and mutual recognition, including mutual recognition of qualifications; stresses that enforcement is key if the impact from these policy areas is to be felt; considers it crucial, in this regard, that the Commission pay as much attention as possible, in connection with CSRs, to introducing long-term reforms which have a significant impact, especially in relation to social investments, employment and training;

41.  States that the single market is a backbone of the EU economy, and stresses that an inclusive single market, with enhanced governance which favours better regulation and competition, is a crucial instrument to improve growth, cohesion, employment and competitiveness and to preserve the confidence of the business sector and consumers; calls on the Commission, therefore, to monitor the progress made by the Member States, and reiterates the importance of the formal inclusion of the single-market pillar in the European Semester so as to enable continuous monitoring of single-market indicators, allowing for systematic follow-up and assessment of Member States’ progress on CSRs;

42.  Welcomes the Commission’s determination to address the lack of tax coordination within the EU, in particular the difficulties faced by SMEs as a result of the complexity of differing national VAT regulations; calls on the Commission to assess the feasibility of further coordination and, in particular, to assess the possibility of a simplified VAT approach in the digital single market;

43.  Condemns the barriers which still exist, or have been created, that hinder a well-functioning and integrated single market; draws attention, in particular, to the partial transposition and implementation of the Services Directive by many Member States, and calls on the Commission to enforce more effectively what Member States have signed up to under EU law; recalls the Commission’s commitment to use infringement procedures, if necessary, to ensure the full implementation of legislation for the single market in goods and services and in the digital sphere;

44.  Points out that the system relating to the recognition of professional qualifications is underpinned by the principles of reciprocal trust between legal systems and reciprocal checking of the quality of the qualifications; notes that further action is required to better implement mutual recognition of professional qualifications; stresses that proper enforcement and better regulation are essential, given the fragmentation of the single market, which restricts economic activity and consumer choice, and should cover all business sectors and apply to existing and future legislation; welcomes the exercise of mapping regulated qualifications and professions, which will create an interactive public database that can aid Member States’ National Action Plans;

45.  Regrets that CSRs continue to point to deficiencies in public procurement such as the lack of competition and transparency, with 21 Member States failing to fully transpose the legislative package, resulting in distortions in the market; calls on the Commission to act swiftly to ensure that Member States meet their legal obligations by taking the necessary infringement procedures; calls on the Commission to systematically monitor in an efficient and transparent manner that administrative procedures do not create a disproportionate burden on business or prevent SMEs from participating in public procurement;

46.  Supports the Member States in their endeavours to modernise public administration services, in particular through e-government, and calls for better cross-border cooperation, simplification of administrative procedures and interoperability of public administrations to the benefit of all businesses and citizens, and at the same time calls on the Commission, where digitalisation of public services is financed from the EU budget, to engage in more effective monitoring of the appropriate use of the funds;

o   o

47.  Instructs its President to forward this resolution to the Presidents of the Council, the Commission, the Eurogroup and the ECB, and to the national parliaments.

(1) Texts adopted, P8_TA(2016)0058.
(2) Texts adopted, P8_TA(2015)0238.
(3) OJ C 165 E, 11.6.2013, p. 24.
(4) OJ L 169, 1.7.2015, p. 1.
(5) OJ C 24, 22.1.2016, p. 2.
(6) Texts adopted, P8_TA(2016)0358.

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