[ParlTrack]

Proposal for a regulation
Recital 3 a (new)

(3 a) Due attention should be paid to the Europe 2020 Strategy for Growth and Jobs and how it is implemented by Member States via their national reform programmes.

2012/02/22
Committee: EMPL

Philippe DE BACKER

Proposal for a regulation
Article 1 – paragraph 1 – point c a (new)

(c a) enhanced provisions for national budgetary rules and economic policy coordination;

2012/02/22
Committee: EMPL

Philippe DE BACKER

Proposal for a regulation
Chapter 2 – title

Common Budgetary Provisions and information requirements on national public debt issuance

2012/02/22
Committee: EMPL

Philippe DE BACKER

Proposal for a regulation
Article 4 – paragraph 1 a (new)

1 a. In addition to Regulation (EC) No 1466/97, Member States shall ensure that the budgetary position of the general government is balanced or in surplus.

2012/02/22
Committee: EMPL

Philippe DE BACKER

Proposal for a regulation
Recital 3 a (new)

(3a) Due attention should be paid to the Europe 2020 Strategy for Growth and Jobs and how it is implemented by Member States via their national reform programmes.

2012/03/13
Committee: ECON

Philippe DE BACKER

Proposal for a regulation
Article 4 – paragraph 1 b (new)

1 b. 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 with a lower limit of a structural deficit of 0,5 % of the gross domestic product at market prices. The Member States shall ensure rapid convergence towards their respective medium-term objective.The Member States may temporarily deviate from their medium-term objective or the adjustment path towards it only in exceptional circumstances as defined in the Stability and Growth Pact. Where the ratio of government debt to gross domestic product at market prices is significantly below 60 % and where risks in terms of long-term sustainability of public finances are low, the lower limit of the medium-term objective specified under the second subparagraph can reach a structural deficit of no higher than 1,0 % of the gross domestic product at market prices.

2012/02/22
Committee: EMPL

Philippe DE BACKER

Proposal for a regulation
Article 4 a (new)

Article 4 a Information requirements on national public debt issuance In view of better coordinating the planning and optimising the financing conditions of public debt issuance, Member States shall report in advance their public debt issuance plans to the Commission and the Council.

2012/02/22
Committee: EMPL

Philippe DE BACKER

Proposal for a regulation
Article 6 – paragraph 1

1. The Commission shall, if necessary, adopt an opinion on the draft budgetary plan by 30 November. The Commission shall in this respect pay due attention to the implementation of the Europe 2020 Strategy for Growth and Jobs by the concerned Member State.

2012/02/22
Committee: EMPL

Philippe DE BACKER

Proposal for a regulation
Article 11 – paragraph 3 a (new)

3 a. At the latest by 31 December 2012, the European Commission shall come forward with proposals for a European redemption fund.

2012/02/22
Committee: EMPL

Philippe DE BACKER

Proposal for a regulation
Article 11 a (new)

Article 11 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 opinions and recommendations adopted pursuant to this Regulation. 2. The competent committee of the European Parliament may offer a Member State, which is subject to an opinion or recommendation under this Regulation, the opportunity to participate in an exchange of views. 3. Representatives of the Commission may be invited to participate to an exchange of views by the Parliament of the Member State, which is subject to an opinion or recommendation under this Regulation. 4. The Council and the Commission shall regularly inform the European Parliament of the implementation of this Regulation.

2012/02/22
Committee: EMPL

Philippe DE BACKER

Proposal for a regulation
Article 1 – paragraph 1 – point c a (new)

(ca) establishing enhanced provisions for national budgetary rules and economic policy coordination.

2012/03/13
Committee: ECON

Philippe DE BACKER

Proposal for a regulation
Chapter 2 – title

Common Budgetary Provisions and information requirements on national public debt issuance

2012/03/13
Committee: ECON

Philippe DE BACKER

Proposal for a regulation
Article 4 – paragraph 1 a (new)

1a. In addition to Regulation (EC) No 1466/97, Member States shall ensure that the budgetary position of the general government is balanced or in surplus.

2012/03/13
Committee: ECON

Philippe DE BACKER

Proposal for a regulation
Article 4 a (new)

Article 4a Information requirements on national public debt issuance With the aim of better coordinating the planning and optimising the financing conditions of public debt issuance, Member States shall report in advance their public debt issuance plans to the Commission and the Council.

2012/03/13
Committee: ECON

Philippe DE BACKER

Proposal for a regulation
Article 6 – paragraph 1

1. The Commission shall, if necessary, adopt an opinion on the draft budgetary plan by 30 November. The Commission should in this respect pay due attention to the implementation of the Europe 2020 Strategy for Growth and Jobs by the Member State concerned.

2012/03/13
Committee: ECON

Ramon TREMOSA i BALCELLS, Sylvie GOULARD, Philippe DE BACKER, Carl HAGLUND

Proposal for a regulation
Article -11 (new)

Article -11 European Redemption Fund 1. A European redemption fund (ERF), based on joint liability and strict fiscal discipline is established with the aim of reducing excessive debt over a period of maximum 25 years after which the ERF will be wound up. 2. Member States whose currency is the euro and who are not under an assistance or adjustment programme shall: (a) transfer debt amounts above 60 % of GDP to the ERF over a roll-in period of five years; (b) implement a budget rule with a lower limit of a structural deficit of 0,5 % of GDP in their national constitution; (c) implement a fiscal consolidation strategy and a structural reform agenda; (d) lodge guarantees to cover their liabilities in the form of international currency reserves and tax revenues which accrue directly to the ERF; (e) reduce their structural deficit during the roll-in period to comply with the budget rule in point (b). 3. The Commission shall ensure the setting up and day-to-day management of the ERF. It shall, in particular: (a) set up a Board of Governors composed of one member of government who is responsible for finance from each participating Member State and chaired by the Member of the European Commission in charge of economic and monetary affairs; (b) propose to the Board of Governors the technical terms for the functioning of the ERF based on paragraph 1 and 2; (c) establish a fiscal consolidation strategy including a binding target of medium term government expenditure and a binding structural reform agenda for each participating Member State; (d) set the conditions for the interest and redemption payments for the participating Member States; (e) suspend a Member States' participation if the Member State does not comply with one of the criteria in Article 11(2); (f) provide the ERF with sufficient human resources in the form of a secretariat. 4. The decisions of the Board of Governors shall be taken by qualified majority. The Board of Governors shall make in particular the following decisions: (a) approve the technical terms for the functioning of the ERF proposed by the Commission; (b) approve the participation of Member States; (c) appoint and end the term of a Managing Director from among candidates having the nationality of an ERF Member, relevant international experience and a high level of competence in economic and financial matters. Whilst holding office, the Managing Director shall not be a Governor. The Managing Director shall be the head of the ERF secretariat. 5. Participation in the ERF shall be open to other Member States as from the entry into force of the decision of the Council of the European Union taken in accordance with Article 140(2) TFEU to abrogate their derogation from adopting the euro. Admittance of new Members shall be approved by the Board of Governors. 6. Member States shall implement provisions in national law to ensure winding up and terminating the ERF after a maximum of 25 years.

2012/03/13
Committee: ECON

Philippe DE BACKER

Proposal for a regulation
Article -11 (new)

Article -11 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 opinions and recommendations 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 an opinion or recommendation 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 an opinion or recommendation under this Regulation. 4. The Council and the Commission shall regularly inform the European Parliament of the results of the application of this Regulation.

2012/03/13
Committee: ECON

Activities of Philippe DE BACKER related to 2011/0386(COD)

Shadow opinions (1)

Amendments (17)

ParlTrack - 2011-2024