### 10. contributions from members of a european political foundation that have their seat in , or are citizens of , a member state or from member organisations that have their seat in a country belonging to the council of europe , and from the european political party with which it is affiliated , shall be permitted. the total value of contributions from members shall not exceed 40 % of the annual budget of a european political foundation and shall not derive from funds received by a european political party pursuant to this regulation from the general budget of the european union. the value of contributions from member organisations that have their seat in a country outside the union shall not exceed 10% of the total contributions from members. ### 10. contributions from members of a european political foundation and from the european political party with which it is affiliated , shall be permitted. the total value of contributions from members shall not exceed 40 % of the annual budget of a european political foundation and shall not derive from funds received by a european political party pursuant to this regulation from the general budget of the european union.


### 10. contributions from members of a european political foundation that have their seat in , or are citizens of , a member state or from member organisations that have their seat in a country belonging to the council of europe , and from the european political party with which it is affiliated , shall be permitted. the total value of contributions from members shall not exceed 40 % of the annual budget of a european political foundation and shall not derive from funds received by a european political party pursuant to this regulation from the general budget of the european union. the value of contributions from member organisations that have their seat in a country outside the union shall not exceed 10% of the total contributions from members. ### 10. contributions from members of a european political foundation that have their seat in , or are citizens of , a member state of the european union , and from the european political party with which it is affiliated , shall be permitted. the total value of contributions from members shall not exceed 40 % of the annual budget of a european political foundation and shall not derive from funds received by a european political party pursuant to this regulation from the general budget of the european union.


### 13. the value of own resources of a european political party or of a european political foundation generated from own economic activities shall not exceed 5% of the annual budget of that european political party or european political foundation. ### 13. the value of other own resources of a european political party or of a european political foundation generated from own economic activities shall not exceed 5% of the annual budget of that european political party or european political foundation.


### 13. the value of own resources of a european political party or of a european political foundation generated from own economic activities shall not exceed 5% of the annual budget of that european political party or european political foundation. ### 13. the value of ancillary own resources of a european political party or of a european political foundation generated from own economic activities shall not exceed 10% of the annual budget of that european political party or european political foundation.


### 2. the funding of european political parties and european political foundations from the general budget of the european union or from any other source may be used to finance referendum campaigns when those campaigns concern the implementation of the treaties of the union. ### deleted


### 1. notwithstanding article 24(1) , the funding of european political parties from the general budget of the european union or from any other source shall not be used for the direct or indirect funding of other political parties , and in particular national parties or candidates. those national political parties and candidates shall continue to be governed by national rules. ### 1. notwithstanding article 24(1) , the funding of european political parties from the general budget of the european union or from any other source shall not be used for the direct or indirect funding of other political parties , and in particular national parties or candidates nor of entities based outside the union or of individuals from outside the union who are not entitled to vote in the elections to the european parliament. those national political parties and candidates shall continue to be governed by national rules.


### 2. the funding of european political foundations from the general budget of the european union or from any other source shall not be used for any other purpose than for financing their tasks as listed in article 2 , point (4) , and to meet expenditure directly linked to the objectives set out in their statutes in accordance with article 6. it shall in particular not be used for the direct or indirect funding of elections , political parties , or candidates or other foundations. ### 2. the funding of european political foundations from the general budget of the european union or from any other source shall not be used for any other purpose than for financing their tasks as listed in article 2 , point (4) , and to meet expenditure directly linked to the objectives set out in their statutes in accordance with article 6. it shall in particular not be used for the direct or indirect funding of elections , political parties , or candidates in the six months before national or european elections or other foundations.


### 1. at the latest within six months following the end of the financial year , european political parties and european political foundations shall submit to the authority , with a copy to the authorising officer of the european parliament and to the competent national contact point of the member state of their seat: ### 1. at the latest within six months following the end of the financial year , european political parties and european political foundations shall submit to the authority , with a copy to the authorising officer of the european parliament and to the competent national contact point of the member state of their seat in an open , machine-readable format:


### 1. at the latest within six months following the end of the financial year , european political parties and european political foundations shall submit to the authority , with a copy to the authorising officer of the european parliament and to the competent national contact point of the member state of their seat: ### 1. at the latest within six months following the end of the financial year , european political parties and european political foundations shall submit to the authorising officer of the european parliament with a copy to the authority and to the competent national contact point of the member state of their seat in an open , machine readable format:


### for the application of the percentages indicated in the first subparagraph , each donation or contribution shall be considered separately. ### for the application of the percentages indicated in the first subparagraph , each donation , contribution or instance of funding shall be considered separately.


### 4. the authorising officer of the european parliament shall inform the authority of any findings which might give rise to the imposition of sanctions under article 30(2) to (4) , with a view to allowing the authority to take appropriate measures. the authority shall make a decision on the imposition of sanctions within [6 months]. ### 4. the authorising officer of the european parliament shall inform the authority of any findings which might give rise to the imposition of sanctions under article 30(2) to (4) , with a view to allowing the authority to take appropriate measures.


### 2. regarding the applications for funding for the first financial year following the entry into force of this regulation , the authorising officer of the european parliament shall only request the evidence referred to in article 21(4) and (5) for the 6 months period preceding the application. ### 2. regarding the applications for funding for the first financial year following the entry into force of this regulation , the authorising officer of the european parliament shall only require the evidence referred to in article 21(4) and (5) after a grace period of one year starting at the entry into force of this regulation.


### regulation (eu , euratom) no 1141/2014 is repealed. ### regulation (eu , euratom) no 1141/2014 is repealed. any procedural steps and decisions previously taken by an institution , the authorising officer of the european parliament or the authority in accordance with or on the basis of regulation (eu , euratom) no 1141/2014 shall remain applicable and be construed in light of this regulation.


### regulation (eu , euratom) no 1141/2014 is repealed. ### regulation (eu , euratom) no 1141/2014 is repealed. any procedural steps and decisions previously taken by an institution , the authorising officer of the european parliament or the authority in accordance with , or on the basis of , regulation (eu , euratom) no 1141/2014 shall remain applicable and be construed in light of this regulation.


### (45) it is necessary to provide for a clear , dissuasive and proportionate system of sanctions in order to ensure effective , proportionate and uniform compliance with the obligations regarding the activities of european political parties and european political foundations. such a system should also respect the ne bis in idem principle whereby sanctions cannot be imposed twice for the same offence. it is also necessary to define the respective roles of the authority and of the authorising officer of the european parliament in controlling and verifying compliance with this regulation as well as the mechanisms for cooperation between them and the member states' authorities. ### (45) it is necessary to provide for a clear , dissuasive and proportionate system of sanctions in order to ensure effective , proportionate and uniform compliance with the obligations regarding the activities of european political parties and european political foundations. such a system should also respect the ne bis in idem principle whereby sanctions cannot be imposed twice for the same offence. it is also necessary to define the respective roles of the authority and of the authorising officer of the european parliament in controlling and verifying compliance with this regulation as well as the mechanisms for cooperation between them and the member states' authorities. it is also necessary to define a structured appeal process that enables european political parties and political foundations to appeal any sanctions or decisions taken by the authority that they may feel is unjust.


### its member parties are not members of another european political party; ### its member parties are not members of another european political party , and their political programme and activities are consistent with the provisions of the political alliance’s political programme as included in its statutes in accordance with article 4 (1) (c)


### a requirement that member parties display the european political party’s logo in a clearly visible and user-friendly manner , specifying that it is to be located in the top section of the front page of the member party’s website and in an equally visible manner as the member party’s own logo; ### a requirement that member parties display the european political party’s logo in a clearly visible manner specifying that it is to be located in the top section of the front page of the member party’s website


### 3. the authority shall immediately publish the information referred to in paragraph 2 in the repository provided for in article 8. the information shall be presented in a form which is easily accessible , clearly visible and user friendly , and using plain language. ### 3. the authority shall publish the information referred to in paragraph 2 in the repository provided for in article 8 without undue delay.


### 3. 1 the european parliament , acting on its own initiative or following a reasoned request from a group of citizens , submitted in accordance with the relevant provisions of its rules of procedure , or the council or the commission may lodge with the authority a request for verification of compliance by a specific european political party or european political foundation with the conditions laid down in article 3(1) , point (d) , and article 3(2) , point (c) . in such cases , and in the cases referred to in article 19(3) , point (a) , the authority shall ask the committee of independent eminent persons referred to in article 14 for an opinion on the subject. the committee shall give its opinion within two months. ### 3. in case of non-compliance with article 3(1) , points (a) to (g) , article 3(2) , points (a) , (b) to (g) or the governance provisions mentioned in paragraph 1 , the authority shall give the european political party or european political foundation concerned the opportunity to introduce the measures required to remedy the situation within the time limit provided for by paragraph 2.


### 2. if the authority is informed of a decision of a national supervisory authority within the meaning of article 4 , point (21) , of regulation (eu) 2016/679 finding that a natural or legal person has infringed applicable rules on the protection of personal data , and if it follows from that decision , or if there are otherwise reasonable grounds to believe , that the infringement is linked to political activities by a european political party or a european political foundation in the context of elections to the european parliament , the authority shall refer this matter to the committee of independent eminent persons referred to in article 14 of this regulation. the authority may , if necessary , liaise with the national supervisory authority concerned. ### 2. the authority shall be informed of any decision of a national supervisory authority within the meaning of article 4 , point (21) , of regulation (eu) 2016/679 finding that a natural or legal person has infringed applicable rules on the protection of personal data. if it follows from that decision , or if there are otherwise reasonable grounds to believe , that the infringement is linked to political activities by a european political party or a european political foundation in the context of elections to the european parliament , the authority shall refer this matter to the committee of independent eminent persons referred to in article 14 of this regulation. the authority may , if necessary , liaise with the national supervisory authority concerned.


### 4. the authority shall fix the date of the publication referred to in paragraph 1 after consultation with the member state in which the european political party or european political foundation has its seat. ### 4. the decision on the removal shall be addressed and notified to the european political party or european political foundation concerned. the decision shall be published in the official journal of the european union. it shall take effect upon notification and in any event at the latest by the time of its publication in the official journal of the european union.


### 3. donations received by european political parties and european political foundations and expenditure funded from those donations within six months prior to elections to the european parliament shall be reported on a weekly basis to the authority in writing and in accordance with paragraph 2. ### 3. donations received by european political parties and european political foundations within six months prior to elections to the european parliament shall be reported on a weekly basis to the authority in writing and in accordance with paragraph 2.


### donations from any public authority from a member state or a third country , or from any undertaking over which such a public authority may exercise , directly or indirectly , a dominant influence by virtue of its ownership of it , its financial participation therein , or the rules which govern it; or ### donations from any public authority from a member state or from outside the union , or from any undertaking over which such a public authority may exercise , directly or indirectly , a dominant influence by virtue of its ownership of it , its financial participation therein , or the rules which govern it; or


### donations from any private entities based in a third country or from individuals from a third country who are not entitled to vote in elections to the european parliament. ### donations from any private entities based outside the union or from individuals from outside the union who are not entitled to vote in elections to the european parliament.


### 8. the authority shall carry out verifications where it has grounds to believe that any donation has been granted in breach of this regulation. it may for that purpose request additional information from the european political party or european political foundation and its donors. ### 8. the authority shall carry out controls where it has grounds to believe that any donation has been granted in breach of this regulation. it may for that purpose request additional information from the european political party or european political foundation and its donors.


### the authorising officer of the european parliament shall control compliance by european political parties and european political foundations with the obligations relating to union funding under this regulation in accordance with regulation (eu , euratom) 2018/1046 . in carrying out such controls , the european parliament shall take the necessary measures in the fields of the prevention of and the fight against fraud affecting the financial interests of the union. ### the authorising officer of the european parliament shall control compliance by european political parties and european political foundations with the obligations relating to union funding under this regulation and under regulation (eu , euratom) 2018/1046 . in carrying out such controls , the european parliament shall take the necessary measures in the fields of the prevention of and the fight against fraud affecting the financial interests of the union.


### 1. with a view to fully comply with the obligations referred to in article 38 , before the authority’s final decision relating to any of the sanctions referred to in article 30 , the authority or the authorising officer of the european parliament shall give the european political party or the european political foundation concerned an opportunity to introduce the measures required to remedy the situation within a reasonable period of time , which shall not normally exceed one month. in particular , the authority or the authorising officer of the european parliament shall allow the possibility of correcting clerical and arithmetical errors , providing additional documents or information where necessary or correcting minor mistakes. ### 1. before the authority’s decision relating to any of the sanctions referred to in article 30 , the authority or the authorising officer of the european parliament shall give the european political party or the european political foundation concerned an opportunity to introduce the measures required to remedy the situation within a reasonable period of time , which shall not normally exceed one month. in particular , the authority or the authorising officer of the european parliament shall allow the possibility of correcting clerical and arithmetical errors , providing additional documents or information where necessary or correcting minor mistakes.


### 2. where a european political party or a european political foundation has failed to take corrective measures within the period of time referred to in paragraph 1 , the appropriate sanctions referred to in article 30 shall be decided. ### 2. where a european political party or a european political foundation has failed to take sufficient corrective measures within the period of time referred to in paragraph 1 , the appropriate sanctions referred to in article 30 shall be decided.


### 3. the authority , the european parliament and the committee of independent eminent persons referred to in article 14 shall ensure that personal data collected by them pursuant to this regulation are not used for any purpose other than to ensure the legality , regularity and transparency of the funding of european political parties and european political foundations and the membership of european political parties. they shall erase all personal data collected for that purpose at the latest 24 months after the publication of the relevant parts in accordance with article 36. ### 3. the authority , the european parliament and the committee of independent eminent persons referred to in article 14 shall ensure that personal data collected by them pursuant to this regulation are not used for any purpose other than to ensure the legality , regularity and transparency of the funding of european political parties and european political foundations and the membership of european political parties. they shall erase all personal data collected for that purpose at the latest 24 months after the publication of the relevant parts in accordance with article 36 has ceased.


### rationale behind borrowing for nextgenerationeu ### rationale of borrowing for nextgenerationeu


### 3. underlines that the success of the borrowing strategy will be judged by its ability to raise the funds necessary for the implementation of ngeu on the capital markets in a timely and relatively low-cost manner , and to repay the debt by 2058 smoothly and predictably; stresses that that the union’s issuance should not upset borrowing conditions for other european issuers and should even play a positive role on capital markets , notably by meeting investors’ demand for euro-denominated assets and for new products such as green bonds; ### 3. underlines that the success of the borrowing strategy will be judged by its ability to raise the funds necessary for the implementation of ngeu on the capital markets in a timely and relatively low-cost manner , and to repay the debt by 2058 according to a smooth and predictable profile and without crowding out established programme expenditure under the mff ceilings; stresses that that the union’s issuance should not upset borrowing conditions for other european issuers and should even play a positive role on capital markets , notably by meeting investors’ demand for euro-denominated assets and for new products such as green bonds;


### 4. notes that the commission has developed and put in place a new and large funding programme and built up its debt management capacities swiftly and efficiently; welcomes the fact that first issuances took place at a steady pace in 2021 and were all heavily oversubscribed , revealing strong investor interest and enabling the commission to meet its funding targets; ### 4. notes that the commission has developed and put in place a new and large funding programme and built up its debt management capacities swiftly and efficiently; welcomes the fact that issuances took place at a steady pace in 2021 and 2022 and were all heavily oversubscribed , revealing strong investor interest and enabling the commission to meet its funding targets; notes with satisfaction that , consistent with its aaa-rating , eu products have been traded at attractive interest rates that are at par with other large european and supranational issuers;


### potential positive effects of nextgenerationeu borrowing ### potential positive effects and challenges of nextgenerationeu borrowing


### 7. believes that by making the union one of largest bond issuers in europe , ngeu can have a positive impact on the stability and liquidity of eu capital markets and can strengthen the international role of the euro; notes , however , that ngeu is legally limited in size and in time; ### 7. believes that , by making the union one of largest bond issuers in europe , ngeu can have a positive impact on the stability and liquidity of eu capital markets and improve the eu economic outlook , complement the macroeconomic architecture of the euro area and strengthen the international role of the euro; notes , however , that ngeu is legally limited in size and in time and would have the potential to play even more influential role as safe assets and serve for integration of eu financial markets and resilience of the eu if lessons are properly taken;


### 7. believes that by making the union one of largest bond issuers in europe , ngeu can have a positive impact on the stability and liquidity of eu capital markets and can strengthen the international role of the euro; notes , however , that ngeu is legally limited in size and in time; ### 7. believes that by making the union one of largest bond issuers in europe , ngeu can have a positive impact on the stability and liquidity of eu capital markets and can strengthen the international role of the euro; notes that ngeu is legally limited in size and in time;


### 8. highlights , in particular , that the union could set benchmarks for sustainable investment as the largest global issuer of green bonds , as well as by diversifying its investor base and securing lower borrowing costs; ### 8. highlights , in particular , that the union could set benchmarks for sustainable investment as the largest global issuer of green bonds , as well as diversifying its investor base and securing lower borrowing costs; welcomes that the green bond framework used by the commission observes high sustainability standards and urges the commission to avoid any‘greenwashing’ , in order to act as a catalyst in the green transition;


### 9. believes that in contrast to the negative image associated with initiatives taken during the euro crisis of the early 2010s , the response to ngeu shows the merits of a more ambitious , collective and democratic crisis response at eu level; calls on all eu institutions , therefore , to ensure that the political signal given by ngeu lives on , by demonstrating that the eu delivers on its promises and by offering a longer-term political vision; ### 9. believes that only the successful implementation of the recovery instrument will show if it represented the adequate crisis response at eu level; calls on all eu institutions , therefore , to ensure that the eu delivers on its promises by offering a long-term political vision;


### 10. underlines that further investments in eu policies will be necessary to strengthen eu competitiveness and strategic autonomy , in particular regarding industry and climate action; considers , in this regard , that ngeu is a good example of a viable architecture for funding above the mff ceilings; ### 10. underlines that further investments in eu policies will be necessary to strengthen eu competitiveness and strategic autonomy , in particular regarding industry and climate action; considers that permanent redeployments are a not a viable long-term solution for financing eu priorities and underlines the need for additional proper means for the eu budget in the form of fresh money; considers , in this regard , that ngeu is a good example of a viable architecture for funding above the mff ceilings;


### 10. underlines that further investments in eu policies will be necessary to strengthen eu competitiveness and strategic autonomy , in particular regarding industry and climate action; considers , in this regard , that ngeu is a good example of a viable architecture for funding above the mff ceilings; ### 10. underlines that further investments in eu policies will be necessary to strengthen eu competitiveness and strategic autonomy , in particular regarding industry and climate action; considers , in this regard , that the lack of involvement of the european parliament in the set-up of ngeu stands proof as to why such crisis instruments should be funded within the mff ceilings;


### 13. firmly believes that the success of ngeu , and in particular the credibility and sustainability of its financing , will also be assessed against the union’s ability to repay the common debt with new own resources in the environmental and corporate sector , rather than with increased gross national income-based contributions from the member states; ### 13. firmly believes that the ultimate success of ngeu , and in particular the credibility and sustainability of its financing , will also be assessed against the union’s ability to repay the common debt with new own resources in the environmental and corporate sector , rather than with increased gross national income-based contributions from the member states;


### 1. underlines that the swift and decisive mobilisation of significant eu budgetary resources was instrumental in cushioning the impact of the covid-19 crisis; ### 1. underlines that the swift and decisive exceptional mobilisation of significant eu budgetary resources was instrumental in cushioning the impact of the covid-19 crisis;


### 1. welcomes the annual sustainable growth strategy 2022 pledge to continue placing a sustainable , fair and green transition at the heart of the european semester (semester) process , enshrining environmental sustainability , climate neutrality , public health and the wellbeing of citizens as guiding principles for the eu’s recovery. ### 1. notes the annual sustainable growth strategy 2022 pledge to continue placing a macro-economically and environmentally sustainable , fair and green transition at the heart of the european semester (semester) process , enshrining economic resilience , environmental sustainability , climate neutrality , public health and the wellbeing of citizens as guiding principles for the eu’s recovery.


### 1. notes that the european economy is recovering faster than expected from the devastating impact of the global pandemic; underlines the crucial importance that timely policy interventions have played and will continue to play in mitigating the impact of the pandemic on the european economy; ### 1. notes that the european economy is recovering faster than expected from the devastating impact of the global pandemic; underlines the crucial importance that timely policy interventions have played and will continue to play in mitigating the impact of the pandemic on the european economy; takes the view that , in order to continue mitigating the effects of this crisis , it is vital to increase public-private investment so that the sectors of the economy worst affected by this crisis can be revitalised;


### 1. notes that the european economy is recovering faster than expected from the devastating impact of the global pandemic; underlines the crucial importance that timely policy interventions have played and will continue to play in mitigating the impact of the pandemic on the european economy; ### 1. notes that the european economy is recovering faster than expected from the devastating impact of the global pandemic , although the rate of growth is uneven across member states; underlines the crucial importance that timely policy interventions have played and will continue to play in mitigating the impact of the pandemic on the european economy;


### 1. notes that the european economy is recovering faster than expected from the devastating impact of the global pandemic; underlines the crucial importance that timely policy interventions have played and will continue to play in mitigating the impact of the pandemic on the european economy; ### 1. notes that the european economy is recovering faster than expected from the devastating impact of the global pandemic; underlines the crucial importance that timely policy interventions have played in mitigating the impact of the pandemic on the european economy;


### 2. stresses that the recovery and resilience facility (rrf) requires that the european semester be reshaped to ensure the delivery of high-quality and ambitious national recovery and resilience plans (nrrps); considers that the nrrps are an opportunity for the member states to address identified structural challenges and to make their economies more shock-resistant , sustainable and inclusive in line with the european pillar of social rights and the sustainable development goals; ### 2. stresses that the recovery and resilience facility (rrf) requires that the european semester be reshaped to ensure the delivery of high-quality , future-oriented and ambitious national recovery and resilience plans (nrrps); considers that the nrrps are an opportunity for the member states to address identified structural challenges and to make their economies more shock-resistant , sustainable and inclusive in line with the european pillar of social rights and the sustainable development goals; highlights that the funds obtained by borrowing need to be paid back and that responsible fiscal management is crucial;


### 2. stresses the importance of accelerating the alignment of the semester process with the eu’s long-term climate and environmental objectives as set up under the european green deal and reinforced in the fit for 55 package; welcomes the insertion , at each european semester country report , of dedicated sections on the member state’s progress in the different sdg areas , as well as the set-up of additional indicators to monitor and guide member states’ performance in view of eu green deal policy goals; ### 2. underlines that fiscal sustainability , compliance with the eu fiscal and macroeconomic surveillance framework are key in ensuring investments in the eu’s long-term climate and environmental objectives as set up under the european green deal and reinforced in the fit for 55 package; notes the insertion , at each european semester country report , of dedicated sections on the member state’s progress in the different sdg areas , as well as the set-up of additional indicators to monitor and guide member states’ performance in view of key eu policy goals , including the eu green deal; emphasizes that the semester should focus on and contribute to economic resilience and increased productivity in the member states;


### 2. is concerned about emerging new variants , localised pandemic lockdowns , increased energy prices , inflationary pressure , supply-side disruptions and emerging labour shortages; notes that these risks could hamper economic growth prospects in the coming months and delay the transition to a more sustainable and future-proof economy; ### 2. is concerned about emerging new variants , localised pandemic lockdowns , increased energy prices , inflationary pressure , supply-side disruptions , supply crises and emerging labour shortages; notes that these risks could hamper economic growth prospects in the coming months and delay the transition to a more sustainable , competitive and future-proof economy;


### 2. is concerned about emerging new variants , localised pandemic lockdowns , increased energy prices , inflationary pressure , supply-side disruptions and emerging labour shortages; notes that these risks could hamper economic growth prospects in the coming months and delay the transition to a more sustainable and future-proof economy; ### 2. is concerned about emerging new variants , localised pandemic lockdowns , increased energy prices , inflationary pressure , supply-side disruptions and emerging labour shortages; notes that these risks could hamper economic growth prospects in the coming months and delay the transition to a more competitive and future-proof economy;


### 3. is alerted by the fact that the speed of the recovery varies across member states and regions , with significant differences and a disparity of between 2.7 % and 14.6 % between the member states in 2021 , according to the commission’s autumn economic forecast; ### 3. is positive that all member states have either already reached their pre-pandemic output levels or are expected to do so in 2022; is alerted by the fact that the speed of the recovery varies across member states and regions , with significant differences and a disparity of between 2.7 % and 14.6 % between the member states in 2021 , according to the commission’s autumn economic forecast;


### 3. is alerted by the fact that the speed of the recovery varies across member states and regions , with significant differences and a disparity of between 2.7 % and 14.6 % between the member states in 2021 , according to the commission’s autumn economic forecast; ### 3. is alerted by the fact that the speed of the recovery varies across member states and regions , with significant differences and a disparity of between 2.7 % and 14.6 % between the member states in 2021 , according to the commission’s autumn economic forecast; notes , however , that the recovery is expected to be more even in 2022 and 2023;


### 4. calls therefore on the commission to extend the current semester approach to deliver on its political commitment to make it a governance tool supporting the achievement of the european green deal and the sustainable development goals; underlines the need to further integrate , without weakening the monitoring process of this extended european semester , the union’s climate , environmental , including biodiversity and social objectives in a more comprehensive manner to provide member states with analysis and indicators beyond economic indicators only , thus better reflecting the current challenges faced by member states in reducing their ecological footprint and making the process a driver of change towards a sustainable wellbeing for all in europe; ### 4. calls therefore on the commission to extend the current semester approach to deliver on its political commitment to make it a governance tool supporting the achievement of the european green deal and the sustainable development goals; underlines the need to further integrate , without weakening the monitoring process of this extended european semester , the union’s climate , environmental , including biodiversity and social objectives in a more comprehensive manner to provide member states with analysis and science-based harmonised , comparable and uniform sustainability indicators beyond economic indicators only , including the methods of life-cycle analysis and natural capital accounting , and thus better reflecting the current challenges faced by member states in reducing their ecological footprint and making the process a driver of change towards a sustainable wellbeing for all in europe;


### 4. calls therefore on the commission to extend the current semester approach to deliver on its political commitment to make it a governance tool supporting the achievement of the european green deal and the sustainable development goals; underlines the need to further integrate , without weakening the monitoring process of this extended european semester , the union’s climate , environmental , including biodiversity and social objectives in a more comprehensive manner to provide member states with analysis and indicators beyond economic indicators only , thus better reflecting the current challenges faced by member states in reducing their ecological footprint and making the process a driver of change towards a sustainable wellbeing for all in europe; ### 4. welcomes that the recovery and resilience plans are assessed based on how they address the challenges identified in the relevant country-specific recommendations (csrs) and that csrs will also include recommendations on the budgetary situation of the member states as envisaged under the stability and growth pact;


### 4. recognises that the crisis triggered by the covid-19 pandemic has been especially severe for enterprises , mostly small and medium-sized enterprises (smes) , in tourism , hospitality and culture; recognises the notion of european solidarity underpinning the establishment of the rrf; ### 4. recognises that the crisis triggered by the covid-19 pandemic has been especially severe for enterprises , mostly small and medium-sized enterprises (smes) , in tourism , hospitality and culture; recognises the notion of european solidarity underpinning the establishment of the rrf , which is the best funded programme in the nextgenerationeu package; takes the view , therefore , that these funds should be mainly targeted at revitalising the eu’s productive fabric and encouraging job creation;


### 4. recognises that the crisis triggered by the covid-19 pandemic has been especially severe for enterprises , mostly small and medium-sized enterprises (smes) , in tourism , hospitality and culture; recognises the notion of european solidarity underpinning the establishment of the rrf; ### 4. recognises that the crisis triggered by the covid-19 pandemic has been especially severe for enterprises , mostly small and medium-sized enterprises (smes) , in tourism , hospitality and culture; recognises the notion of european solidarity underpinning the establishment of the rrf as a one-off instrument to address the economic fallout of the pandemic;


### 4. recognises that the crisis triggered by the covid-19 pandemic has been especially severe for enterprises , mostly small and medium-sized enterprises (smes) , in tourism , hospitality and culture; recognises the notion of european solidarity underpinning the establishment of the rrf; ### 4. recognises that the crisis triggered by the covid-19 pandemic has been especially severe for enterprises , mostly for small and medium-sized enterprises (smes) , as well as tourism , hospitality and culture enterprises; recognises the notion of european solidarity underpinning the establishment of the rrf;


### 5. recalls that public funding is key to achieving the 2030 climate objectives and addressing other social and economic challenges; considers that all options to incentivise member state investments to tackle those challenges should be on the table , specifically the revision of the stability and growth pact to promote a future-oriented economy and the extension of lending and borrowing capacities at eu level , building on nextgenerationeu; ### 5. recalls that public funding is a leverage for mobilising private investments and that both are needed to achieve the 2030 climate objectives and address other social and economic challenges; considers that all budgetary-sustainable options to incentivise member state investments to tackle those challenges should be on the table;


### 5. stresses that the european semester should support the union’s effort to achieve climate neutrality by 2050 at the latest; calls therefore on the commission to assess the discrepancy between the structure of the member states’ budgets and a paris-aligned scenario for each of their national budgets; thus enabling the commission to provide recommendations on member states’ climate debt and climate-friendly investment gap associated to the union’s 2030 objective and the objective of climate neutrality by 2050 at the latest; ### 5. considers that the european semester can support the union’s effort to achieve the union’s 2030 climate objective and climate neutrality by 2050 at the latest by ensuring fiscal stability and an investment friendly environment; stresses that any changes to the european semester must not water down its original purpose;


### 5. points out that the successful roll-out of the rrf will help to make eu economies and societies more sustainable , inclusive , resilient and better prepared for the green and digital transitions; ### 5. points out that the successful roll-out of the rrf will help to make eu economies and societies more competitive , sustainable , resilient and better prepared for the green and digital transitions; points out that this success will come from encouraging job creation , modernising the eu’s productive fabric , helping enterprises and smes , committing to innovation , and providing skills training as the cornerstones of this economic and social stimulus programme;


### 5. points out that the successful roll-out of the rrf will help to make eu economies and societies more sustainable , inclusive , resilient and better prepared for the green and digital transitions; ### 5. points out that the rapid , efficient , transparent and successful implementation of the rrf will help to make eu economies and societies more sustainable , inclusive , resilient and better prepared for the green and digital transitions;


### 5. points out that the successful roll-out of the rrf will help to make eu economies and societies more sustainable , inclusive , resilient and better prepared for the green and digital transitions; ### 5. points out that the successful roll-out of the rrf will help to make eu economies and societies more prosperous , sustainable , inclusive , resilient and better prepared for the green and digital transitions;


### 5. points out that the successful roll-out of the rrf will help to make eu economies and societies more sustainable , inclusive , resilient and better prepared for the green and digital transitions; ### 5. points out that a successful roll-out of the rrf will help to make eu economies and societies more sustainable , inclusive , resilient and better prepared for the green and digital transitions;


### 6. recalling the importance of ensuring the semester is aligned with the recovery and resilience facility and the need to swiftly address the covid 19 pandemic impact on the european economy; highlights that the rrf presents an unprecedented and unique opportunity for all member states to address key structural challenges and investment needs and transform their economies to make them sustainable , more competitive and more resilient to future shocks; stresses the importance of implementing investment policies and sustainable reforms in line with the european priorities identified in the rrf is of the view that the rrf should serve as an inspiration for the review of the framework for macroeconomic governance , notably in identifying common structural challenges and investment needs; further stresses that this review should design an enabling framework for member states to accelerate their green transition and close their climate and environment friendly investment gap; ### 6. recalling the importance of ensuring the semester is aligned with the recovery and resilience facility and the need to swiftly address the covid 19 pandemic impact on the european economy; highlights that the rrf presents an unprecedented and unique opportunity for all member states to address key structural challenges and investment needs and transform their economies to make them sustainable , more competitive and more resilient to future shocks; stresses the importance of implementing investment policies and sustainable reforms in line with the european priorities identified in the rrf and the do no significant harm (dnsh) principle; is of the view that the rrf should serve as an inspiration for the review of the framework for macroeconomic governance , notably in identifying common structural challenges and investment needs; further stresses that this review should design an enabling framework for member states to accelerate their green transition and close their climate and environment friendly investment gap;


### 7. recalls that the design of nextgenerationeu requires debt repayment through new own resources of the eu budget. ### 7. recalls that the design of nextgenerationeu requires debt repayment through new own resources of the eu budget , which need to be budgetary-neutral for member states.


### 7. believes that the review of the eu’s economic governance framework is necessary; agrees with the european fiscal board on the importance of having a clear pathway towards a reviewed fiscal framework , preferably prior to the deactivation of the general escape clause; ### 7. is open to review the eu’s economic governance framework; notes the european fiscal board's stance on the importance of having a clear pathway towards a reviewed fiscal framework , preferably prior to the deactivation of the general escape clause; emphasises , however , that the deactivation of the general escape clause should not be linked to a potential review of the framework and that the quality of a possible revision is more important than the speed of the process;


### 7. believes that the review of the eu’s economic governance framework is necessary; agrees with the european fiscal board on the importance of having a clear pathway towards a reviewed fiscal framework , preferably prior to the deactivation of the general escape clause; ### 7. believes that the review of the eu’s economic governance framework is necessary; agrees with the european fiscal board on the importance of having a clear pathway towards a reviewed fiscal framework , which must be defined prior to the deactivation of the general escape clause;


### a. whereas the european semester plays an important role in coordinating economic and budgetary policies in the member states , thereby safeguarding the macroeconomic stability of the economic and monetary union; ### a. whereas the european semester plays an important role in coordinating economic and budgetary policies in the member states , thereby safeguarding the macroeconomic stability of the economic and monetary union and boosting the eu’s competitiveness;


### b. whereas according to the commission’s autumn economic forecast , the gdp growth rate for 2022 is expected to be 4.3 % of gdp per capita for both the euro area and the eu-27 , but is expected to fall to 2.4 % and 2.5 % respectively in 2023; ### b. whereas according to the commission’s autumn economic forecast , the gdp growth rate for 2022 is expected to be 4.3 % of gdp per capita for both the euro area and the eu-27 , but is expected to fall to 2.4 % and 2.5 % respectively in 2023; whereas it is therefore vital to adopt economic and fiscal policies that will mitigate the predicted economic slowdown and that will encourage higher growth rates in line with the global economic recovery;


### b. whereas according to the commission’s autumn economic forecast , the gdp growth rate for 2022 is expected to be 4.3 % of gdp per capita for both the euro area and the eu-27 , but is expected to fall to 2.4 % and 2.5 % respectively in 2023; ### b. whereas according to the commission’s autumn economic forecast , the gdp growth rate for 2022 is expected to be 4.3 % of gdp per capita for both the euro area and the eu-27 , but is expected to fall to 2.4 % for the euro area and 2.5 % for the eu-27 respectively in 2023;


### c. whereas the commission’s autumn economic forecast shows a significant difference in the pace of recovery between the member states in 2021 , with a disparity of gdp growth ranging from 2.7 % to 14.6 %; ### c. whereas the commission’s autumn economic forecast shows a significant difference in the pace of recovery between the member states in 2021 , with a disparity of gdp growth ranging from 2.7 % to 14.6 %; whereas the growth forecast for 2022 and 2023 is more evenly distributed across member states;


### d. whereas the crisis caused by the covid-19 pandemic led to an increase in social , territorial , economic and gender-based inequalities; ### deleted


### d. whereas the crisis caused by the covid-19 pandemic led to an increase in social , territorial , economic and gender-based inequalities; ### d. whereas the crisis caused by the covid-19 pandemic led to an increase in social , territorial and economic inequalities among the eu member states;


### d. whereas the crisis caused by the covid-19 pandemic led to an increase in social , territorial , economic and gender-based inequalities; ### d. whereas the crisis caused by the covid-19 pandemic led to an increase in social , territorial , intergenerational , economic and gender-based inequalities;


### e. whereas according to the commission’s autumn economic forecast , the average rate of unemployment fell to 7.9 % in the euro area and 7.1 % in the eu-27 in 2021 , with further decreases to 7.5 % and 6.7 % expected in 2022; ### deleted


### f. whereas the post-pandemic economic recovery requires the fast and efficient implementation of the recovery and resilience facility (rrf); whereas all recovery and resilience plans should address each of the six pillars and the general and specific objectives of the rrf regulation and respect its horizontal principles; ### f. whereas the post-pandemic economic recovery requires the fast , efficient and transparent implementation of the recovery and resilience facility (rrf); whereas all national recovery and resilience plans should address each of the six pillars and the general and specific objectives of the rrf regulation and respect its horizontal principles; whereas the member states should therefore focus their efforts on implementing national plans that promote competitiveness , resilience and adaptation of the european economies to the challenges of the green and digital transitions; whereas funding should thus be targeted at the economies , and member states should avoid using all or most of the funds for bureaucratic or administrative costs; whereas national plans should be fully consistent and mutually efficient with programmes implementing the multiannual financial framework (mff);


### f. whereas the post-pandemic economic recovery requires the fast and efficient implementation of the recovery and resilience facility (rrf); whereas all recovery and resilience plans should address each of the six pillars and the general and specific objectives of the rrf regulation and respect its horizontal principles; ### f. whereas the post-pandemic economic recovery requires the fast and efficient implementation of the recovery and resilience facility (rrf); whereas all recovery and resilience plans should address each of the six pillars and the general and specific objectives of the rrf regulation and respect its horizontal principles; whereas reforms and investments in recovery and resilience plans should solely target the economic and social recovery of the eu member states;


### f. whereas the post-pandemic economic recovery requires the fast and efficient implementation of the recovery and resilience facility (rrf); whereas all recovery and resilience plans should address each of the six pillars and the general and specific objectives of the rrf regulation and respect its horizontal principles; ### f. whereas the post-pandemic economic recovery requires the fast and efficient implementation of the recovery and resilience facility (rrf) , including the corresponding reforms; whereas all recovery and resilience plans should address each of the six pillars and the general and specific objectives of the rrf regulation and respect its horizontal principles;


### 8. is convinced that the coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance , taking into account national budgets and the rrf , is projected to remain supportive in 2022 to sustain the recovery; agrees with the commission that member states with low or medium levels of debt should pursue or maintain a supportive fiscal stance , and that member states with high levels of debt should use the rrf to finance additional investment to support the recovery , while pursuing a prudent fiscal policy; agrees with the commission that all member states should preserve or broadly preserve their national financed investment; ### 8. is convinced that the coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance , taking into account national budgets and the rrf , is projected to remain supportive in 2022 to sustain the recovery; agrees with the commission that member states with low or medium levels of debt should pursue or maintain a supportive fiscal stance , and that member states with high levels of debt should use the rrf to finance additional investment to support the recovery , but without funding measures that increase structural expenditure , while pursuing a prudent fiscal policy; emphasises the importance of such investment not increasing national public debt or conflicting with the fundamental principles of economic and fiscal sustainability; agrees with the commission that all member states should preserve or broadly preserve their national financed investment;


### 8. is convinced that the coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance , taking into account national budgets and the rrf , is projected to remain supportive in 2022 to sustain the recovery; agrees with the commission that member states with low or medium levels of debt should pursue or maintain a supportive fiscal stance , and that member states with high levels of debt should use the rrf to finance additional investment to support the recovery , while pursuing a prudent fiscal policy; agrees with the commission that all member states should preserve or broadly preserve their national financed investment; ### 8. is convinced that the coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance , taking into account national budgets and the rrf , is projected to remain supportive in 2022 to sustain the recovery; agrees with the commission that member states with low or medium levels of debt should pursue or maintain a supportive fiscal stance , and that member states with high levels of debt should use the rrf to finance additional investment to support the recovery , while pursuing a prudent fiscal policy that does not , however , prevent the public investment needed to fund sectors that are strategic for the recovery and resilience of european economies and societies; agrees with the commission that all member states should preserve or broadly preserve their national financed investment;


### 8. is convinced that the coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance , taking into account national budgets and the rrf , is projected to remain supportive in 2022 to sustain the recovery; agrees with the commission that member states with low or medium levels of debt should pursue or maintain a supportive fiscal stance , and that member states with high levels of debt should use the rrf to finance additional investment to support the recovery , while pursuing a prudent fiscal policy; agrees with the commission that all member states should preserve or broadly preserve their national financed investment; ### 8. believes that the coordination of national fiscal policies helps to underpin the recovery; stresses furthermore that solid public finances enable national automatic stabilisers to help member states in reaching the appropriate fiscal stance; notes that the overall fiscal stance , taking into account national budgets and the rrf , is projected to remain supportive in 2022 to sustain the recovery; agrees with the commission that member states with low or medium levels of debt should pursue or maintain a supportive fiscal stance , and that member states with high levels of debt should use the rrf to finance additional investment to support the recovery , while pursuing a prudent fiscal policy; agrees with the commission that all member states should preserve or broadly preserve their national financed investment;


### 8. is convinced that the coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance , taking into account national budgets and the rrf , is projected to remain supportive in 2022 to sustain the recovery; agrees with the commission that member states with low or medium levels of debt should pursue or maintain a supportive fiscal stance , and that member states with high levels of debt should use the rrf to finance additional investment to support the recovery , while pursuing a prudent fiscal policy; agrees with the commission that all member states should preserve or broadly preserve their national financed investment; ### 8. is convinced that the coordination of national fiscal policies remains crucial in underpinning the recovery; notes that the overall fiscal stance , taking into account national budgets and the rrf , is projected to remain supportive in 2022 to sustain the recovery; notes that overall public debt levels in the eu are too high and need to be lowered; therefore agrees with the commission that member states with low or medium levels of debt should pursue or maintain a supportive fiscal stance , and that member states with high levels of debt should use the rrf to finance additional investment to support the recovery , while pursuing a prudent fiscal policy; agrees with the commission that all member states should preserve or broadly preserve their national financed investment;


### growth-enhancing , balanced , inclusive and sustainable structural reforms and investment ### growth-enhancing structural reforms and investment


### 9. considers that it is crucial to coordinate national reform and investment efforts and the exchange of best practices in order to increase the convergence and resilience of our economies , promote sustainable and inclusive growth , and improve institutional frameworks; ### 9. considers that it is crucial to coordinate national reform and investment efforts and the exchange of best practices in order to increase the convergence and resilience of our economies , promote inclusive growth , strengthen the union's resilience by bringing down public debt levels and improve institutional frameworks;


### 9. considers that it is crucial to coordinate national reform and investment efforts and the exchange of best practices in order to increase the convergence and resilience of our economies , promote sustainable and inclusive growth , and improve institutional frameworks; ### 9. considers that it is crucial to coordinate national reform and investment efforts and the exchange of best practices in order to increase the convergence and resilience of our economies , promote sustainable and competitive growth , and improve institutional frameworks;


### 10. highlights that the rrf presents an unprecedented and unique opportunity for all member states to address key structural challenges and investment needs and insists that all recovery and resilience plans address all requirements of the rrf regulation , in particular the six pillars; highlights the interplay between the european semester and the rrf; calls on the member states to make the most of this opportunity and to use it to transform their economies and make them sustainable , more competitive and more resilient to future shocks; highlights the role of the european parliament in the implementation of the rrf , as enshrined in the rrf regulation; ### 10. highlights that the rrf presents an unprecedented and unique opportunity for all member states to address key structural challenges and investment needs and insists that all recovery and resilience plans address all requirements of the rrf regulation , in particular the six pillars; highlights the interplay between the european semester and the rrf and in particular the requirement for member states to address all or a significant subset of country-specific recommendations as part of the national recover any resilience plan; calls on the member states to make the most of this opportunity and to use it to transform their economies and make them sustainable , more competitive and more resilient to future shocks; highlights the role of the european parliament in the implementation of the rrf , as enshrined in the rrf regulation;


### 10. highlights that the rrf presents an unprecedented and unique opportunity for all member states to address key structural challenges and investment needs and insists that all recovery and resilience plans address all requirements of the rrf regulation , in particular the six pillars; highlights the interplay between the european semester and the rrf; calls on the member states to make the most of this opportunity and to use it to transform their economies and make them sustainable , more competitive and more resilient to future shocks; highlights the role of the european parliament in the implementation of the rrf , as enshrined in the rrf regulation; ### 10. highlights that the rrf presents an unprecedented and unique opportunity for all member states to address key structural challenges and investment needs and insists that all recovery and resilience plans address all requirements of the rrf regulation , in particular the six pillars; highlights the interplay between the european semester and the rrf; takes the view that the link between the two is key to ensuring efficient expenditure that always contributes to the economic and social recovery; calls on the member states to make the most of this opportunity and to use it to transform their economies and make them sustainable , more competitive and more resilient to future shocks; highlights the role of the european parliament in the implementation of the rrf , as enshrined in the rrf regulation;


### 11. highlights that the covid-19 pandemic has had a significant impact on women; emphasises the importance of increasing women’s participation in the economy , including inclusive participation in the digital economy and transformation , and ensuring more inclusive growth as part of the solution to the post-pandemic recovery , which will help to increase jobs , economic prosperity and competitiveness across the eu; ### deleted


### 11. highlights that the covid-19 pandemic has had a significant impact on women; emphasises the importance of increasing women’s participation in the economy , including inclusive participation in the digital economy and transformation , and ensuring more inclusive growth as part of the solution to the post-pandemic recovery , which will help to increase jobs , economic prosperity and competitiveness across the eu; ### 11. highlights that the covid-19 pandemic has had a significant impact on women; emphasises the importance of increasing women’s participation in the economy , including inclusive participation in the digital economy and transformation , reinforcing existing eu maternity support policies , and ensuring more inclusive growth as part of the solution to the post-pandemic recovery , which will help to increase jobs , economic prosperity and competitiveness across the eu;


### 11. highlights that the covid-19 pandemic has had a significant impact on women; emphasises the importance of increasing women’s participation in the economy , including inclusive participation in the digital economy and transformation , and ensuring more inclusive growth as part of the solution to the post-pandemic recovery , which will help to increase jobs , economic prosperity and competitiveness across the eu; ### 11. highlights that the covid-19 pandemic has had a significant impact on the most vulnerable people; emphasises the importance of increasing their participation in the economy and in the digital transformation , and ensuring more inclusive growth as part of the solution to the post-pandemic recovery , which will help to increase jobs , economic prosperity , sustainability of pension systems and competitiveness across the eu;


### 12. notes that many member states are having to contend with old and new structural challenges that are hindering their growth potential; highlights , therefore , that tackling structural challenges is crucial for a sustainable recovery and continued growth; takes the view that implementing reforms to address old and new structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges , but also to accomplishing the twin transitions in a sustainable , fair and inclusive manner and to reducing social inequalities; points to the lack of national ownership as one of the main weaknesses in enacting reforms aimed at addressing structural deficiencies; ### 12. notes that many member states are having to contend with old and new structural challenges that are hindering their growth potential; highlights , therefore , that tackling structural challenges is crucial for a sustainable recovery and continued growth; takes the view that implementing structural reforms to address old and new structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges and potential future shocks , but also to accomplishing the twin transitions in a sustainable , fair and inclusive manner and to reducing social inequalities; points to the lack of national ownership as one of the main weaknesses in enacting reforms aimed at addressing structural deficiencies;


### 12. notes that many member states are having to contend with old and new structural challenges that are hindering their growth potential; highlights , therefore , that tackling structural challenges is crucial for a sustainable recovery and continued growth; takes the view that implementing reforms to address old and new structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges , but also to accomplishing the twin transitions in a sustainable , fair and inclusive manner and to reducing social inequalities; points to the lack of national ownership as one of the main weaknesses in enacting reforms aimed at addressing structural deficiencies; ### 12. notes that many member states are having to contend with old and new structural challenges that are hindering their growth potential; highlights , therefore , that tackling structural challenges is crucial for a sustainable recovery and continued growth; takes the view that implementing reforms to address old and new structural vulnerabilities is key not only to improving the ability to withstand and cope with existing challenges , but also to accomplishing the twin transitions in a competitive , sustainable , fair and inclusive manner and to reducing social inequalities; points to the lack of national ownership as one of the main weaknesses in enacting reforms aimed at addressing structural deficiencies;


### 13. is concerned that the commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 member states; is worried that the nature and source of member states’ imbalances remain largely the same as before the pandemic and that the pandemic could also be exacerbating imbalances and economic divergences; calls on the member states to take advantage of the unprecedented opportunity provided by the rrf to significantly reduce existing macroeconomic imbalances , in particular by including ambitious reform measures in the national plans of all member states; stresses that sound execution is essential to make full use of this opportunity; ### 13. is concerned that the commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 member states; is worried that the nature and source of member states’ imbalances remain largely the same as before the pandemic and that the pandemic could also be exacerbating imbalances and economic divergences; calls on the member states to take advantage of the unprecedented opportunity provided by the rrf to significantly reduce existing macroeconomic imbalances , in particular by including ambitious reform measures in the national plans of all member states , following the country-specific recommendations , and paying particular attention to reducing public debt and providing an ideal framework for investment , new business start-ups and job creation; stresses that rapid , efficient and transparent execution , involving local and regional authorities and civil society , is essential to make full use of this opportunity;


### 13. is concerned that the commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 member states; is worried that the nature and source of member states’ imbalances remain largely the same as before the pandemic and that the pandemic could also be exacerbating imbalances and economic divergences; calls on the member states to take advantage of the unprecedented opportunity provided by the rrf to significantly reduce existing macroeconomic imbalances , in particular by including ambitious reform measures in the national plans of all member states; stresses that sound execution is essential to make full use of this opportunity; ### 13. is concerned that the commission identified macroeconomic vulnerabilities related to imbalances and excessive imbalances in 12 member states; is worried that the nature and source of member states’ imbalances remain largely the same as before the pandemic and that the pandemic could also be exacerbating imbalances and economic divergences; calls on the member states to take advantage of the unprecedented opportunity provided by the rrf to significantly reduce existing macroeconomic imbalances , in particular by including ambitious structural reform measures in the national plans of all member states; stresses that sound execution is essential to make full use of this opportunity;


### 14. recognises the importance of the macroeconomic imbalance procedure in identifying , preventing and addressing macroeconomic imbalances in the eu; highlights that continuous monitoring and vigilance will be needed and that member states should address emerging imbalances through reforms that enhance economic and social resilience and promote the digital transformation and green and just transitions; ### 14. recognises the importance of the macroeconomic imbalance procedure in identifying , preventing and addressing macroeconomic imbalances in the eu; highlights that continuous monitoring and vigilance will be needed and that member states should address emerging imbalances through reforms that enhance economic and social resilience and promote the digital transformation and green and just transitions; stresses that the european commission plays an important role in holding governments accountable in this regard;


### 14. recognises the importance of the macroeconomic imbalance procedure in identifying , preventing and addressing macroeconomic imbalances in the eu; highlights that continuous monitoring and vigilance will be needed and that member states should address emerging imbalances through reforms that enhance economic and social resilience and promote the digital transformation and green and just transitions; ### 14. recognises the importance of the macroeconomic imbalance procedure in identifying , preventing and addressing macroeconomic imbalances in the eu; highlights that continuous monitoring and vigilance will be needed and that member states should address emerging imbalances through reforms that enhance economic and social resilience , increase public-private investment cooperation , and promote the digital transformation and green and just transitions in order to encourage job creation;


### a. whereas the eib signed loans for eur 95 billion in 2021; ### a. whereas the eib signed loans for eur 95 billion in 2021; this is more than any other multilateral bank and a record for the eib;


### 2. calls for an increase in the eib’s capitalisation to enable more long-term loans and innovative instruments to finance projects with great potential for sustainability , social and innovation gains; ### 2. calls for an increase in the eib’s capitalisation to enable more long-term loans and innovative instruments to finance projects with great potential for innovation gains in european key policy areas like digitalisation and the green transformation;welcomes that the eib supported more than 430 000 smes employing 4.5 million people in 2021; however calls on the eib to provide additional growth capital to enable smes to scale up their operations;


### 4. applauds the timeliness of the european guarantee fund to help mitigate the negative social and economic impacts of the covid-19 pandemic; ### 4. applauds the timeliness of the european guarantee fund to help mitigate the negative social and economic impacts of the covid-19 pandemic; highlights that the volume of approved egf operations was €23.2 billion by the end of 2021 , which is about one third of the volume the eib invests in a regular year;


### 6. welcomes the fact that 43 % of lending in 2021 was climate and environment related and applauds the intention to meet the climate lending target in 2022; stresses that the climate bank roadmap (cbr) alone is not enough to ensure alignment with the objective of the paris agreement of limiting global warming to 1.5°c; calls for an immediate halt to carbon markets and offsetting and for all action plans for the implementation of the cbr to be made public; ### 6. welcomes the fact that 43 % of lending in 2021 was climate and environment related and applauds the intention to meet the climate lending target in 2022; points out that without the european guarantee fund mandate - that specifically targets smes hit by the pandemic – the eib’s green financing share actually rose to 51%; underlines that irrespective of the strong involvement of the eib towards achieving the climate neutrality objectives , the institution remains an investment bank and should maintain its focus on supporting projects that deliver growth and job creation;


### 7. looks forward to the cbr’s mid-term review; calls for it to include a solid assessment of less carbon-intensive alternatives and ‘scope 3’ emissions for each project; expects detailed annual progress reports on the cbr , including the degree to which it is aligned with the paris agreement; ### 7. looks forward to the cbr’s mid-term review; calls for it to include a solid assessment of less carbon-intensive alternatives for each project; expects detailed annual progress reports on the cbr , including the degree to which it is aligned with the european climate objectives;


### 8. welcomes the paris alignment for counterparties; reiterates its call for financial intermediaries and not only corporate clients to have decarbonisation plans as soon as possible and by the end of 2025 at the latest; calls for a focus on the credibility of short-term decarbonisation plans; expects the eib to systematically check and ensure compliance , in particular as regards essf implementation; ### 8. welcomes the paris alignment for counterparties; reiterates its call for exploring possible options for financial intermediaries and corporate clients to have decarbonisation plans as soon as possible and by the end of 2025 at the latest , stresses that such new requirements must not go to the detriment of access to finance for smes; calls for a focus on the credibility of short-term decarbonisation plans; expects the eib to systematically check and ensure compliance , in particular as regards essf implementation;


### 9. welcomes the eib’s climate adaptation plan and the commitment to grow the share of spending on climate action for adaptation to 15 % of the overall climate target by 2025; ### 9. welcomes the eib’s climate adaptation plan and the commitment to grow the share of spending on climate action for adaptation to 15 % of the overall climate target by 2025; stresses however that green investments must be viable and the eib must maintain a high-credit standing (aaa); notes that the climate problem cannot be solved without support of the industry , a large scale change can only be achieved if the industry is taken on board and the necessary incentives are provided for innovative climate solutions;


### 10. expresses , in view of the upcoming review of the energy lending policy , its full support for the statement of president hoyer: ‘we believe that we have a mission to concentrate on sustainability and achieving the paris goals with the means of a long-term investor institution.[...] therefore i don’t see a change in our energy lending policy’; calls for the eib to retain the possibility to apply stricter criteria than the eu taxonomy and finance fossil-free energy only , and in particular to exclude financing for so-called low-carbon gas , especially for district heating , grey or blue hydrogen and forest biomass; ### 10. expresses , in view of the upcoming review of the energy lending policy , its full support for the statement of president hoyer: ‘we believe that we have a mission to concentrate on sustainability and achieving the paris goals with the means of a long-term investor institution.[...] therefore i don’t see a change in our energy lending policy’; calls for the eib to focus on investments in projects that increase the security of energy supply by ways of diversification of energy sources and suppliers as well as reducing the eu's energy dependency from third countries;


### 11. regrets the delays in the transport lending policy review; expects a proposal fully aligned with the 1.5°c target of the paris agreement; expects no new loans to be granted that hinder transport decarbonisation or the transition towards zero emission mobility; ### 11. regrets the delays in the transport lending policy review; expects a proposal fully aligned with the eu's climate policies; expects the eib to align its transport activities with the new european green deal , and with other areas of eu transport policy;


### 12. welcomes the updated essf standard 4 and calls for its diligent implementation; welcomes the efforts made to strengthen biodiversity risk assessment and due diligence; is concerned , however , at the use of outdated data; expects the eib to comply with articles 11 and 191 tfue and to stop disbursing funds , and , if necessary , withdraw them , if there is evidence or a serious risk of adverse impacts; ### 12. welcomes the updated essf standard 4 and calls for its diligent implementation; welcomes the efforts made to strengthen biodiversity risk assessment and due diligence; expects the eib to comply with articles 11 and 191 tfue and to stop disbursing funds , and , if necessary , withdraw them , if there is evidence or a serious risk of adverse impacts;


### 14. calls for the eib to only support sustainable agriculture and natural resource management projects that respect planetary boundaries; calls for a ban on supporting all forms of industrial farming and farming practices that do not comply with animal welfare standards; ### deleted


### 17. expresses its support for eib global; expects full alignment of investments in non-eu countries with intra-eu lending and eu external action; calls for public consultation on the strategies linked to eib global with a particular focus on the role of recipient countries and specific chapters on human rights due diligence; ### 17. expresses its support for eib global; expects full alignment of investments in non-eu countries with intra-eu lending and eu external action , if possible within legal remits established for the financing; calls for public consultation on the strategies linked to eib global with a particular focus on the role of recipient countries and specific chapters on human rights due diligence;


### 18. regrets that the new essf includes no significant improvement in human rights protection or procedures to prevent human rights violations; calls for this to be addressed in the statement on human rights; is very concerned that in some cases , the eib has continued to disburse loans despite clear human rights abuses; ### 18. welcomes the new essf , which strengthens the risk-based approach and is more explicit on the rights-based approach concerning environmental and social matters having human rights as a key objective; underlines that the new essf requires eib clients to ensure respect for human rights by taking a human-rights-responsive approach to the impact assessment process;


### 19. is very concerned by the decline of transparency at the eib: in 2010 , 96.1 % of all projects were published three weeks before board approval , falling to only 60 % in 2020; calls for more transparency and accountability , also towards eu institutions , in particular parliament; ### 19. highlights that all eib projects are published on the website at the very latest when the finance contract is signed; notes that the overall goal is to publish project information three weeks before they are approved by the eib board; welcomes however that commercially sensitive projects for eib clients are not published prior to approval in order to protect their legitimate commercial interests;


### 20. considers the new transparency policy (tp) a major setback; regrets that the eib has totally ignored parliament’s very clear demands to improve its tp in line with other financial institutions’ best practices and standards; calls for the tp to be aligned with that of the european bank for reconstruction and development on mandatory disclosure for intermediaries of projects with high environmental risks; ### 20. takes note of the recent efforts that have been made by the eib regarding the new transparency policy (tp);


### 21. calls , in this regard , for an ambitious standard for financial intermediaries following stringent tax , transparency , environmental and social standards; calls for the eib to amend its template for contractual clauses on environmental matters and , accordingly , the contracts with financial intermediaries setting requirements on what environmental information must be collected and published; ### 21. calls , in this regard , for an ambitious standard for financial intermediaries following european key policy goals; stresses however that such new requirements must not be to the detriment of access to finance for smes;


### 23. expresses serious concerns at the lack of social dialogue at the eib , in particular to address concerns about harassment allegations and the working environment; urges the eib management to engage in genuine dialogue with staff in order to address their concerns; ### 23. recognises that recent efforts have been made by the eib to address concerns at the lack of social dialogue at the eib , in particular to address concerns about harassment allegations and the working environment; encourages the eib management to engage in genuine dialogue with staff in order to address their concerns;


### 25. takes note of the new anti-fraud policy; is concerned about the opaque way in which it was adopted; ### 25. takes note of the new anti-fraud policy;


### 27. is very concerned that , at least once , the eib disbursed funding despite a very clear eib complaints mechanism report concluding that its environmental and social standards had been breached; calls for any such project to be halted immediately; ### 27. calls for an halt of disbursing funding when an eib complaints mechanism report concludes a serious breach of the contractual provisions;


### (26) in order to help union funding for security research to develop its full potential and address the needs of drugs policy , the agency should assist the commission in identifying key research themes , drawing up and implementing the union framework programmes for research and innovation that are relevant to the agency’s objectives. where the agency assists the commission in identifying key research themes , drawing up and implementing a union framework programme , it should not receive funding from that programme in order to avoid a potential conflict of interest. finally , the agency should participate in union-wide initiatives addressing research and innovation to ensure that technologies necessary for its activities are developed and available for use. ### (26) in order to help union funding for security research to develop its full potential and address the needs of drugs policy , the agency should assist the commission in identifying key research themes and in drawing up and implementing the union framework programmes for research and innovation that are relevant to the agency’s objectives. where the agency assists the commission in identifying key research themes and in drawing up and implementing a union framework programme , it should not receive funding from that programme and take all necessary measures to avoid conflicts of interest. finally , the agency should participate in union-wide initiatives addressing research and innovation to ensure that technologies necessary for its activities are developed and available for use. planned research and innovation activities should be set out in the single programming document containing the agency's multiannual and annual work programme.


### (29) the agency should be properly resourced to carry out its tasks and granted an autonomous budget. it should be mainly financed by a contribution from the general budget of the union. the union budgetary procedure should be applicable as far as the union contribution and any other subsidies chargeable to the general budget of the union are concerned. the auditing of accounts should be undertaken by the court of auditors of the european union. ### (29) the agency should be provided with the necessary human and financial resources to fulfil the objectives , tasks and responsibilities assigned to it under this regulation. it should be granted an autonomous budget. it should be mainly financed by a contribution from the general budget of the union , with the necessary appropriations drawn exclusively from unallocated margins under the relevant heading of the multiannual financial framework and/or through the mobilisation of the relevant special instruments. the union budgetary procedure should be applicable as far as the union contribution and any other subsidies chargeable to the general budget of the union are concerned. the auditing of accounts should be undertaken by the court of auditors of the european union.


### 1. the agency shall assist the commission and the member states in identifying key research themes , drawing up and implementing the union framework programmes for research and innovation activities that are relevant to achieve its general task set out in article 4. where the agency assists the commission in identifying key research themes , drawing up and implementing a union framework programme , the agency shall not receive funding from that programme. ### 1. the agency shall assist the commission and the member states in identifying key research themes and in drawing up and implementing the union framework programmes for research and innovation activities that are relevant to achieve its general and specific tasks set out in articles 4 and 5. where the agency assists the commission in identifying key research themes , drawing up and implementing a union framework programme , the agency shall not receive funding from that programme. the agency shall take all necessary measures to avoid conflicts of interest.


### 2. the agency shall proactively monitor and contribute to research and innovation activities to achieve its general task set out in article 4 , support related activities of member states , and implement its research and innovation activities regarding matters covered by this regulation , including the development , training , testing and validation of algorithms for the development of tools. the agency shall disseminate the results of that research to the european parliament , to the member states and to the commission in accordance with article 49. ### 2. the agency shall proactively monitor and contribute to research and innovation activities to achieve its general and specific tasks set out in articles 4 and 5 , support related activities of member states , and implement its research and innovation activities regarding matters covered by this regulation , including the development , training , testing and validation of algorithms for the development of tools. the agency shall disseminate the results of that research to the european parliament , to the member states and to the commission in accordance with article 49.


### adopt its rules of procedure; ### adopt its rules of procedure , including practical arrangements for the prevention and management of conflicts of interest;


### 1. the scientific committee shall consist of at most fifteen scientists appointed by the management board in view of their scientific excellence and their independence , following the publication of a call for expression of interest in the official journal of the european union. the selection procedure shall ensure that the specialist fields of the members of the scientific committee cover the most relevant fields linked to the objectives of the agency. ### 1. the scientific committee shall consist of at most fifteen scientists appointed by the management board in view of their scientific excellence and their independence , following the publication of a call for expression of interest in the official journal of the european union. the selection procedure shall ensure that the specialist fields of the members of the scientific committee cover the most relevant fields linked to the objectives of the agency and shall pay due attention to gender balance.


### by 15 december of each year , the management board shall adopt a draft single programming document containing multi-annual and annual programming as well as all the documents listed in article 32 of commission delegated regulation (eu) 2019/71565 , based on a draft put forward by the executive director , after consulting the scientific committee , taking into account the opinion of the commission , and in relation to multiannual programming after consulting the european parliament. it shall forward it to the european parliament , the council and the commission by 31 january of the following year. ### by 15 december of each year , the management board shall adopt a draft single programming document containing multi-annual and annual programming as well as all the documents listed in article 32 of commission delegated regulation (eu) 2019/71565 , based on a draft put forward by the executive director , after consulting the scientific committee , taking into account the opinion of the commission , and in relation to multiannual programming after consulting the european parliament. if the management board decides not to take into account elements of the opinion of the commission or of the scientific committee , it shall provide a thorough justification. the obligation to provide a thorough justification shall also apply to the elements raised by the european parliament when it is consulted. the management board shall forward the single programming document to the european parliament , the council and the commission by 31 january of the following year.


### annual or multi-annual programming shall include the information about the implementation of the international cooperation framework referred to in article 20 and the actions linked to this strategy. ### annual or multi-annual programming shall include the information about the implementation of the international cooperation framework referred to in article 20 and the actions linked to this strategy. it shall also include the agency's planned research and innovation activities referred to in article 21.


### 2. the executive director shall be appointed by the management board , from a list of candidates proposed by the commission , following an open and transparent selection procedure. ### 2. the executive director shall be appointed by the management board , from a list of candidates proposed by the commission , following an open and transparent selection procedure. the commission shall pay due attention to gender balance when drawing up the list of candidates.


### (1) the transition to a low-carbon , more sustainable , resource-efficient , circular and fair economy is key to ensuring the long-term competitiveness of the economy of the union and the well-being of its peoples. in 2016 , the union concluded the paris agreement31 . article 2(1) , point (c) , of the paris agreement sets out the objective of strengthening the response to climate change by , among other means , making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development. ### (1) the transition to a low-carbon , sustainable , energy and resource-efficient , circular and fair economy is key to ensuring the long-term competitiveness of the economy of the union and the well-being of its peoples. in 2016 , the union concluded the paris agreement31 . article 2(1) , point (c) , of the paris agreement sets out the objective of strengthening the response to climate change by , among other means , making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.


### (1) the transition to a low-carbon , more sustainable , resource-efficient , circular and fair economy is key to ensuring the long-term competitiveness of the economy of the union and the well-being of its peoples. in 2016 , the union concluded the paris agreement31 . article 2(1) , point (c) , of the paris agreement sets out the objective of strengthening the response to climate change by , among other means , making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development. ### (1) the transition to a low-carbon , sustainable , energy- and resource-efficient , circular and fair economy is key to ensuring the long-term competitiveness of the economy of the union and the well-being of its peoples. in 2016 , the union concluded the paris agreement31. article 2(1) , point (c) , of the paris agreement sets out the objective of strengthening the response to climate change by , among other means , making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.


### (1) the transition to a low-carbon , more sustainable , resource-efficient , circular and fair economy is key to ensuring the long-term competitiveness of the economy of the union and the well-being of its peoples. in 2016 , the union concluded the paris agreement31. article 2(1) , point (c) , of the paris agreement sets out the objective of strengthening the response to climate change by , among other means , making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development. ### (1) the transition to a low-carbon , sustainable , energy and resource-efficient , circular and fair economy is key to ensuring the long-term competitiveness of the economy of the union and the well-being of its peoples. in 2016 , the union concluded the paris agreement31. article 2(1) , point (c) , of the paris agreement sets out the objective of strengthening the response to climate change by , among other means , making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.