4 Amendments of Sergio GUTIÉRREZ PRIETO related to 2011/0385(COD)
Amendment 30 #
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1 a) The sharp deterioration in the economic and budgetary situation of the Member States has had terrible effects in terms of a sharp increase in unemployment rate throughout the Union, young people below 25 being one of the groups worst affected by the crisis. This group's unemployment rate has peaked to 20% and reaches more than 40% in many Member States. As a result, tax base has abated, economic and social costs have soared with a sharp increase in poverty and social exclusion and the loss of growth opportunities is hampering gravely the path to economic and budgetary recovery.
Amendment 43 #
Proposal for a regulation
Recital 7
Recital 7
(7) A decision regarding thea serious and repeated non- compliance of a Member State with its adjustment programme wcould alsopossibly entail a suspension of payments or commitments of Union funds as provided by Article 21(6) of Regulation (EU) No XXX laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund covered by the common strategic framework and laying down general provisions on the European Regional Development Fund, the European Social Fund and the Cohesion Fund and repealing Regulation (EC) No 1083/2006,. On the contrary, those Member States which face severe economic, budgetary and social dire straits and which are making substantial efforts to underpin economic recovery and job creation should receive a bigger share of European solidarity via increases in European funds. This will allow them to reach budgetary stability while fostering economic growth, promoting job creation and preserving adequate levels of social protection;
Amendment 65 #
Proposal for a regulation
Article 5
Article 5
Where financial assistance is sought from the EFSF or the ESM, the Commission shall prepare – in liaison with the ECB and wherever possible, the IMF - an analysis of themedium and long term sustainability of the government debt of the Member State concerned, including the Member State's ability to repay the envisaged financial assistance, and forward it to the EFC or to any subcommittee the latter may designate for that purpose.
Amendment 69 #
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. A Member State receiving financial assistance from one or several other States, the IMF, the EFSF or the ESM shall prepare in agreement with the Commission - acting in liaison with the ECB - a draft adjustment programme aimed at re- establishing a sound and sustainable economic, social and financial situation and restoring its capacity to finance itself fully on the financial markets. All adjustment programme must be set for a realistic time line (medium and long term), taking into account that adjustment programmes must neither be too abrupt nor too fast otherwise they will undermine economic and job recovery, aggravating even more the economic and social impact of the crisis. The draft adjustment programme shall take due account of the current recommendations addressed to the Member State concerned under Articles 121, 126 and/or 148 of the Treaty- and its actions to comply with them - while aiming at broadening, strengthening and deepening the required policy measures.