21 Amendments of Ildikó GÁLL-PELCZ related to 2010/0280(COD)
Amendment 77 #
Proposal for a regulation – amending act
Recital 10
Recital 10
(10) A temporary departure from prudent fiscal policy-making should be allowed in case of severe economic downturn of a general naturerecession in order to facilitate economic recovery.
Amendment 93 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) The preventive part of the Stability and Growth Pact that is meant to ensure that Member States follow prudent fiscal policy should be more stringently coordinated and enforced in order to ensure minimum quality and consistency with the economic and monetary union budgetary coordination framework.
Amendment 96 #
Proposal for a regulation
Recital 5
Recital 5
(5) The content of the stability and convergence programmes as well as the criteria for their examination should further be adapted in the light of the experience gained with the implementation of the Stability and Growth Pact, with particular reference to the amount and impact of individual types of debt (State, corporate and personal).
Amendment 99 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 7
Article 5 – paragraph 1 – subparagraph 7
Special attention shall be paid to pension reforms introducstrengthening a multi-pillar system that includes a mandatory, fully funded pillar. Member States implementing such reforms shall be allowed to deviate from the adjustment path to their medium-term budgetary objective or from the objective itself, with the deviation reflecting the net cost of the reform to the publicly managed pillar, under the condition that the deviation remains temporary and that an appropriate safety margin with respect to the deficit reference value is preserved.
Amendment 102 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 9
Article 5 – paragraph 1 – subparagraph 9
In periods of severe economic downturn of a general naturerecession Member States may be allowed to temporarily depart from the adjustment path implied by prudent fiscal- policy making referred to in the fourth subparagraph. in order to facilitate economic recovery.
Amendment 109 #
Proposal for a regulation – amending act
Article 1 – point 5
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – subparagraph 3
Article 6 – paragraph 2 – subparagraph 3
The deviation may be equally not considered in case of severe economic downturn of a general naturerecession.
Amendment 120 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 7
Article 9 – paragraph 1 – subparagraph 7
Special attention shall be paid to pension reforms introducstrengthening a multi-pillar system that includes a mandatory, fully funded pillar. Member States implementing such reforms shall be allowed to deviate from the adjustment path to their medium-term budgetary objective or from the objective itself, with the deviation reflecting the net cost of the reform to the publicly managed pillar, under the condition that the deviation remains temporary and that an appropriate safety margin with respect to the deficit reference value is preserved.
Amendment 122 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 9
Article 9 – paragraph 1 – subparagraph 9
In periods of severe economic downturn of a general naturerecession Member States may be allowed to temporarily depart from the adjustment path implied by prudent fiscal- policy making referred to in the fourth subparagraph.
Amendment 127 #
Proposal for a regulation – amending act
Article 1 – point 9
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 2 – subparagraph 4
Article 10 – paragraph 2 – subparagraph 4
The deviation may be equally not considered in case of severe economic downturn of a general naturerecession.
Amendment 140 #
Proposal for a regulation
Recital 7
Recital 7
(7) The obligation to achieve and maintain the medium-term budgetary objective needs to be put into operation, through the specification of principles of prudent fiscal policy-makingfor the adjustment path towards the medium-term objective.
Amendment 153 #
Proposal for a regulation
Recital 9
Recital 9
(9) Prudent fiscal policy-making implies thatSufficient progress towards the MTO shall be evaluated on the basis of an overall assessment with the structural balance as a reference, including an analysis of expenditure net of discretionary revenue measures. In this regard, and as long as the MTO is not achieved, the growth rate of government expenditure doesshall normally not exceed a prudentreference medium-term growth rate of GDP,potential GDP growth, with increases in excess of that norm arebeing matched by discretionary increases in government revenues and discretionary revenue reductions arebeing compensated by reductions in expenditure. The reference medium-term rate of potential GDP growth shall be calculated according to a commonly agreed methodology validated by the Member States.
Amendment 161 #
Proposal for a regulation
Recital 10
Recital 10
(10) A temporary departure from prudent fiscal policy-making should be allowed in case of severe economic downturn of a general naturethe adjustment path towards the medium-term objective may exceptionally be allowed in case of severe economic downturn for the euro-area or the EU as a whole, on condition that this does not endanger fiscal sustainability in the medium-term, in order to facilitate economic recovery.
Amendment 183 #
Proposal for a regulation
Recital 12
Recital 12
(12) In order to ensure compliance with the fiscal surveillance framework of the Union for participating Member States, a specific enforcement mechanism should be established on the basis of Article 136 of the Treaty for cases where a persistent and significant deviation from prudent fiscal policy makthe event of a significant deviation from the adjustment path towards the medium-term objective a warning shall be addressed by the Commission to the Member State concerned to be followed within one month by a Council recommendation, setting a deadline to take the necessary corrective measures. The Member State concerned should report to the Council on the action taken. If the Member State concerned fails to take appropriate action in the deadline set by the Council, the Council should adopt a recommendation stating so and report to the European Council. the Commission, in liaison with the ECB for euro area Member States and for ERM2 Member States, may carry out a monitoring mission. The Commission will report to the Council on the outcome of the mission and will make its findings prevailsublic within one month.
Amendment 199 #
Proposal for a regulation – amending act
Article 1 – point -1 a (new)
Article 1 – point -1 a (new)
Regulation (EC) No 1466/97
Article 1
Article 1
-1. A 1. Article 1 shall be replaced by the following: Article 1 “This Regulation sets out the rules covering the content, the submission, the examination and the monitoring of stability programmes and convergence programmes as part of multilateral surveillance by the Council so as to prevent, at an early stage, the occurrence of excessive general government deficits and individual types of debt (State, corporate and personal) and to promote the surveillance and coordination of economic policies.”
Amendment 242 #
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint i
Article 1 – point 2 – subpoint b – subpoint i
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point a
Article 3 – paragraph 2 – point a
(a) the medium-term budgetary objective and the adjustment path towards this objective for the general government balance as a percentage of GDP, the expected path of the general government debt ratio, the planned growth path of government expenditure, in particular bearing in mind the conditions and criteria to establish the expenditure growth under Article 5(1), the planned growth path of government revenue at unchanged policy and a quantification of the planned discretionary revenue measures;
Amendment 243 #
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint i
Article 1 – point 2 – subpoint b – subpoint i
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point a
Article 3 – paragraph 2 – point a
'(a) the medium-term budgetary objective and the adjustment path towards this objective for the general government balance as a percentage of GDP, the expected path of the general government debt ratio, the planned growth path of government expenditure, the planned growth path ofratio and volume of types of debt (State, corporate and personal), government expenditure, government revenue at unchanged policy and a quantification of, the planned path of discretionary revenue measures and a quantification thereof;'
Amendment 253 #
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint ii
Article 1 – point 2 – subpoint b – subpoint ii
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point c
Article 3 – paragraph 2 – point c
'(c) a quantitative assessment of the budgetary and other economic policy measures being taken or proposed to achieve the objectives of the programme, comprising a cost-benefit analysis of major structural reforms which havebring about direct long- term cost-saving effectsimprovements in the balance, including by raising potential growth;'
Amendment 344 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 7
Article 5 – paragraph 1 – subparagraph 7
Special attention shall be paid to pension reforms introducingwhich reinforce a multi-pillar system that includes a mandatory, fully funded pillar. Member States implementing such reforms shall be allowed to deviate from the adjustment path to their medium- term budgetary objective or from the objective itself, with the deviation reflecting the net costbalance of the reform to the publicly managed pillar, under the condition that the deviation remains temporary and that an appropriate safety margin with respect to the deficit reference value is preserved.
Amendment 359 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 9
Article 5 – paragraph 1 – subparagraph 9
In periods of severe economic downturn of a general nature Member States may be allowed, exclusively on account of measures to promote the recovery of the economy, to temporarily depart from the adjustment path implied by prudent fiscal- policy making referred to in the fourth subparagraph.
Amendment 416 #
Proposal for a regulation – amending act
Article 1 – point 6 – subpoint b – subpoint i
Article 1 – point 6 – subpoint b – subpoint i
Regulation (EC) No 1466/97
Article 7 – paragraph 2 – point a
Article 7 – paragraph 2 – point a
(a) the medium-term budgetary objective and the adjustment path towards this objective for the general government balance as a percentage of GDP, the expected path of the general government debt ratioratio and size of the individual types of debt (State, corporate and personal), the planned growth path of government expenditure, the planned growth path of government revenue at unchanged policy and a quantification of the planned discretionary revenue measures, the medium-term monetary policy objectives, the relationship of those objectives to price and exchange rate stability and to the achievement of sustained convergence;'
Amendment 502 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 7
Article 9 – paragraph 1 – subparagraph 7
Special attention shall be paid to pension reforms introducingwhich reinforce a multi-pillar system that includes a mandatory, fully funded pillar. Member States implementing such reforms shall be allowed to deviate from the adjustment path to their medium- term budgetary objective or from the objective itself, with the deviation reflecting the net cost of the reform to the publicly managed pillar, under the condition that the deviation remains temporary and that an appropriate safety margin with respect to the deficit reference value is preserved.