Activities of Philippe DE BACKER related to 2011/0385(COD)
Shadow opinions (1)
OPINION on the Proposal for a Regulation of the European Parliament and of the Council on the strengthening of economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability in the euro area
Amendments (31)
Amendment 36 #
Proposal for a regulation
Recital 3
Recital 3
(3) The intensity of the economic and fiscal surveillance should be commensurate to the severity of the financial difficulties encountered and should take due account of the nature of the financial assistance received, which may range from a mere precautionary support based on eligibility conditions up to a full macro-economic adjustment programme involving strict policy conditionality. Any macro- economic adjustment programme shall, where possible, take into account the national reform programme of the country concerned in the context of the Europe 2020 Strategy for Growth and Jobs.
Amendment 48 #
Proposal for a regulation
Article 2 – paragraph 2 a (new)
Article 2 – paragraph 2 a (new)
2 a. The Commission shall make every decision in accordance with paragraph 1 and 2 public.
Amendment 56 #
Proposal for a regulation
Recital 3
Recital 3
(3) The intensity of the economic and fiscal surveillance should be commensurate to the severity of the financial difficulties encountered and should take due account of the nature of the financial assistance received, which may range from a mere precautionary support based on eligibility conditions up to a full macro-economic adjustment programme involving strict policy conditionality. Any macro- economic adjustment programme should, where possible, take into account the national reform programme of the Member State concerned in the context of the Europe 2020 Strategy for Growth and Jobs.
Amendment 57 #
Proposal for a regulation
Article 3 – paragraph 5
Article 3 – paragraph 5
5. Where it is concluded - on the basis of the assessment foreseen in paragraph 4 - that further measures are needed and the financial situation of the Member State concerned has significant adverse effects on the financial stability of the euro area, the Council, acting by qualified majority on a proposal from the Commission, may recommend to the Member State concerned to seek financial assistance and to prepare a macro- economic adjustment programme. The Council may decide to make this recommendation public.
Amendment 58 #
Proposal for a regulation
Article 3 – paragraph 5 a (new)
Article 3 – paragraph 5 a (new)
5 a. When taking a decision in accordance with paragraph 5, the Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 59 #
Proposal for a regulation
Article 3 – paragraph 6
Article 3 – paragraph 6
Amendment 70 #
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. A Member State requesting or 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 and financial situation and restoring its capacity to finance itself fully on the financial markets. 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. Any macro- economic adjustment programme shall, where possible, take into account the national reform programme of the country concerned in the context of the Europe 2020 Strategy for Growth and Jobs.
Amendment 73 #
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The Council, acting by qualified majority on a proposal from the Commission, shall approve the adjustment programme. The Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 76 #
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
4. The Commission - in liaison with the ECB - shall examine with the Member State concerned the changes that may be needed to its adjustment programme. The Council, acting by a qualified majority on a proposal from the Commission, shall decide on any change to be made to the adjustment programme. When taking this decision, the Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 79 #
Proposal for a regulation
Article 6 – paragraph 5
Article 6 – paragraph 5
5. If the monitoring referred to in paragraph 3 highlights significant deviations from the macro-economic adjustment programme, the Council, acting by qualified majority on a proposal from the Commission, may decide that the Member State concerned does not comply with the policy requirements contained in the adjustment programme. When taking this decision, the Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 81 #
Proposal for a regulation
Article 6 – paragraph 7
Article 6 – paragraph 7
Amendment 83 #
Proposal for a regulation
Article 6 – paragraph 8
Article 6 – paragraph 8
Amendment 84 #
Proposal for a regulation
Article 6 a (new)
Article 6 a (new)
Article 6 a Economic Dialogue 1. In order to enhance the dialogue between the institutions of the Union, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the European Council or the President of the Eurogroup to appear before the committee to discuss the recommendations and decisions taken pursuant to this Regulation. 2. The competent committee of the European Parliament may offer the opportunity to participate in an exchange of views to the Member State which is the subject of a Council recommendation or decision under this Regulation. 3. Representatives of the Commission may be invited to participate to an exchange of views by the Parliament of the Member State, which is the subject of a Council recommendation or decision under this Regulation. 4. The Council and the Commission shall regularly inform the European Parliament of the results of the application of this Regulation.
Amendment 86 #
Proposal for a regulation
Article 10 a (new)
Article 10 a (new)
Article 10 a Compatibility with Article 28 of the Charter of Fundamental Rights of the European Union and the right to work This Regulation takes into account Article 28 of the Charter of Fundamental Rights of the European Union, and accordingly does not affect the right to negotiate, conclude or enforce collective agreements or to take collective action in accordance with national law and practices. This Regulation shall also not afftect the right to work.
Amendment 87 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
1. This Regulation sets out provisions for strengthening the economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability and/or that receive or mayhave requested or receive financial assistance from one or several other States, the European Financial Stability Facility (EFSF), the European Financial Stability Mechanism (EFSM), the European Stability Mechanism (ESM) or other International Financial Institutions (IFI), such as the International Monetary Fund (IMF). Financial assistance covers all forms of financial support including pre- cautionary financial assistance.
Amendment 89 #
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. A Member State shall be under post- programme surveillance as long as a minimum of 75% of the financial assistance received from one or several other Member State(s), the EFSM, the EFSF or the ESM has not been repaid. The Council, acting on a qualified majority on a proposal from the Commission, may extend the duration of the post programme surveillance. When taking this decision, the Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 90 #
Proposal for a regulation
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
1a. In addition to complying with Regulation (EC) No 1466/97, Member States shall ensure that the budgetary position of the general government is balanced or in surplus. The budgetary position of the general government shall be deemed to be balanced if the annual structural balance of the general government is at its country-specific medium-term objective as defined in the revised Stability and Growth Pact without showing a structural deficit of the gross domestic product at market prices. Member States may temporarily deviate from their medium-term objective or the adjustment path towards it in exceptional circumstances as defined in the Stability and Growth Pact.
Amendment 91 #
Proposal for a regulation
Article 11 – paragraph 4
Article 11 – paragraph 4
4. The Council, acting by qualified majority on a proposal from the Commission, may recommend to the Member State under post programme surveillance to adopt corrective measures. When taking this decision, the Commission's recommendation shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 92 #
Proposal for a regulation
Article 12 – paragraph 1
Article 12 – paragraph 1
For the measures referred to in Articles 2(1), 3, 6(2), 6(4) and 11(4)this regulation, only members of the Council representing Member States whose currency is the euro shall vote and the Council shall act without taking into account the vote of the member of the Council representing the Member State concerned.
Amendment 107 #
Proposal for a regulation
Article 2 – paragraph 2
Article 2 – paragraph 2
2. The Commission shall decide to make a Member State requesting or receiving a financial assistance on a precautionary basis from one or several other States, the EFSF, the ESM or any other International Financial Institution, such as the IMF, subject to enhanced surveillance. The Commission shall establish a list of the precautionary financial assistance instruments concerned and keep it updated to take into account possible changes in the financial support policy of the EFSF, the EFSM, ESM or of any other relevant International Financial Institution.
Amendment 110 #
Proposal for a regulation
Article 2 – paragraph 2 a (new)
Article 2 – paragraph 2 a (new)
2a. The Commission shall make every decision taken in accordance with paragraphs 1 and 2 public.
Amendment 145 #
Proposal for a regulation
Article 3 – paragraph 5
Article 3 – paragraph 5
5. Where it is concluded - on the basis of the assessment foreseen in paragraph 4 - that further measures are needed and the financial situation of the Member State concerned has significant adverse effects on the financial stability of the euro area, the Council, acting by qualified majority on a proposal from the Commission, mayshall recommend to the Member State concerned to seek financial assistance and to prepare a macro- economic adjustment programme. The Council may decide to make this recommendation public.
Amendment 148 #
Proposal for a regulation
Article 3 – paragraph 5 a (new)
Article 3 – paragraph 5 a (new)
5a. When taking a decision in accordance with paragraph 5, the Commission's proposal shall be deemed to have been adopted by the Council, unless the Council decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision.
Amendment 166 #
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 and financial situation and restoring its capacity to finance itself fully on the financial markets. 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. Any macroeconomic adjustment programme shall, where possible, take into account the national reform programme of the Member State concerned in the context of the Europe 2020 Strategy for Growth and Jobs.
Amendment 178 #
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The Council, acting by qualified majority on a proposal from the Commission, shall approve the adjustment programmeon a proposal from the Commission, shall approve the adjustment programme. The Commission's proposal shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision. The Council shall make the decision public.
Amendment 187 #
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
4. The Commission - in liaison with the ECB - shall examine with the Member State concerned the changes that may be needed to its adjustment programme. The Council, acting by a qualified majority on a proposal from the Commission, shall decide on any change to be made to the adjustment programme. The Commission's proposal shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision. The Council shall make the decision public.
Amendment 194 #
Proposal for a regulation
Article 6 – paragraph 5
Article 6 – paragraph 5
5. If the monitoring referred to in paragraph 3 highlights significant deviations from the macro-economic adjustment programme, the Council, acting by qualified majority on a proposal from the Commission, mayshall decide that the Member State concerned does not comply with the policy requirements contained in the adjustment programme. The Commission's proposal shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision. The Council shall make the decision public.
Amendment 207 #
Proposal for a regulation
Article 6 a (new)
Article 6 a (new)
Article 6a Economic Dialogue 1. In order to enhance the dialogue between the institutions of the Union, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the European Council or the President of the Eurogroup to appear before the committee to discuss the recommendations and decisions taken pursuant to this Regulation. 2. The competent committee of the European Parliament may offer the opportunity to participate in an exchange of views to the Member State which is the subject of a Council recommendation or decision under this Regulation. 3. Representatives of the Commission may be invited to participate to an exchange of views by the Parliament of the Member State, which is the subject of a Council recommendation or decision under this Regulation. 4. The Council and the Commission shall regularly inform the European Parliament of the results of the application of this Regulation.
Amendment 231 #
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. A Member State shall be under post- programme surveillance as long as a minimum of 75% of the financial assistance received from one or several other Member State(s), the EFSM, the EFSF or the ESM has not been repaid. The Council, acting on a qualified majority on a proposal from the Commission, may extend the duration of the post programme surveillance. The Commission's proposal shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision. The Council shall make its decision public.
Amendment 240 #
Proposal for a regulation
Article 11 – paragraph 4
Article 11 – paragraph 4
4. The Council, acting by qualified majority on a proposal from the Commission, may adopt a recommend toation that the Member State under post programme surveillance to adopt corrective measures. The Commission's proposal shall be deemed to have been adopted by the Council, unless it decides, by qualified majority, to reject the recommendation within 10 days of its adoption by the Commission. The Member State concerned may request that a meeting of the Council be convened within that period to take a vote on the decision. The Council shall make the recommendation public.
Amendment 245 #
Proposal for a regulation
Article 12 – paragraph 1
Article 12 – paragraph 1
For the measures referred to in Articles 2(1), 3, 6(2), 6(4) and 11(4),this Regulation only members of the Council representing Member States whose currency is the euro shall vote and the Council shall act without taking into account the vote of the member of the Council representing the Member State concerned.