13 Amendments of Ildikó GÁLL-PELCZ related to 2010/0281(COD)
Amendment 52 #
Proposal for a regulation
Recital 12
Recital 12
12. If macroeconomic imbalances are identified, recommendations should be addressed to the Member State concerned to provide guidance on appropriate policy responses. The policy response of the Member State concerned to imbalances should be timely and should use all available policy instruments under the control of public authorities. It should be tailored to the specific environment and circumstances of the Member State concerned and cover the main economic policy areas, potentially including fiscal and wage policies, labour markets, product and services markets and financial sector regulation.
Amendment 92 #
Proposal for a regulation
Recital 5
Recital 5
(5) It is appropriate to supplement the multilateral surveillance referred to in Article 121(3) and (4) of the Treaty with specific rules for detection, prevention and correction of macroeconomic imbalances. , which procedure it is absolutely essential to incorporate into the annual multilateral surveillance cycle.
Amendment 95 #
Proposal for a regulation
Recital 6
Recital 6
(6) This procedure should rely on an alert mechanism for early detection of emerging macroeconomic imbalances. It should be based on use of an indicative and transparent scoreboard comprising indicative thresholds, combined with uniform economic judgment.
Amendment 101 #
Proposal for a regulation
Recital 7
Recital 7
(7) The scoreboard should consist of a limited set of economic and financial indicators relevant to detection of macroeconomic imbalances, with corresponding indicative thresholds. The cComposition of the scoreboard may evolve in timemission should revise the indicators, together with the thresholds which they recommend, before each budgetary planning period, inter alia due to evolving threats to macroeconomic stability or enhanced availability of relevant statistics.
Amendment 111 #
Proposal for a regulation
Recital 8
Recital 8
(8) The crossing of one or more indicative thresholds need not necessarily imply that macroeconomic imbalances are emerging, as economic policy-making should take into account inter-linkages between macroeconomic variables. Economic judgment should ensure that all pieces of information, whether from the scoreboard or not, are put in perspective and become part of a comprehensive analysis, not being taken out of context.
Amendment 184 #
Proposal for a regulation
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
a) ‘imbalances’ means macroeconomic developments which are adversely affecting, or have the potential adversely to affect, the proper functioning of the economy of a Member State orand thus of economic and monetary union, or of the Union as a whole.
Amendment 206 #
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
2. The scoreboard shall be made up of an array of macroeconomic and, macrofinancial indicators for Member Stateand structural indicators, which are adequate to measure the economic equilibrium and competitiveness of Member States in comparison to other Member States as well as their international competitiveness. The Commission may set indicative lower or upper thresholds for these indicators to serve as alert levels. The thresholds should incorporate the catching up process for non Euro area Member States. The thresholds applicable to Member States whose currency is not the euro may be different from those applicable to the otherEuro area Member States.
Amendment 245 #
Proposal for a regulation
Article 3 – paragraph 4
Article 3 – paragraph 4
4. The Commission shall regularly assess the appropriateness of the scoreboard, including the composition of indicators, the thresholds set and the methodology used, and shall adapt it if necessary to preserve or enhance its capability to detect emerging imbalances and monitor their development. Changes in the uniform underlying methodology and composition of the scoreboard and the associated thresholds shall be made public.
Amendment 251 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
1. The Commission shall update the values for the indicators on the scoreboard at least on a yebefore each budgetarly basisplanning period for each Member State. The updated scoreboard shall be made public.
Amendment 256 #
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. The release of the updated scoreboard shall be accompanied by a Commission report containing an economic and financial assessment putting the movement of the indicators into perspective, drawing if necessary on any other economic and financial indicator relevant to detection of imbalances. The report shall also indicate whether the crossing of lower or upper thresholds in one or more Member States signifies the possible emergence of imbalances affecting the Member State concerned and the European Union as a whole.
Amendment 276 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. Taking account of the discussions in the Council and the Euro Group, as provided for in Article 4(4), the Commission shall prepare an in-depth review for each Member State it considers affected by, or at risk of, imbalances. This assessment shall include an evaluation of whether the Member State in question is affected by imbalances, and of whether these imbalances constitute excessive imbalances. from the point of view of the Member State concerned or of the European Union as a whole.
Amendment 307 #
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. The Council shall review these recommendations annuallybefore each budgetary planning period and may amend them if appropriate in accordance with paragraph 1.
Amendment 369 #
Proposal for a regulation
Article 10 – paragraph 2
Article 10 – paragraph 2
2. The Commission’s report and the Council’s position shall be made public.