16 Amendments of Astrid LULLING related to 2010/0276(CNS)
Amendment 83 #
Proposal for a regulation – amending act
Recital 4 a (new)
Recital 4 a (new)
(4a) The improved economic governance framework should rely on several inter- linked policies for sustainable growth and jobs, which should be coherent with each other, namely a Union strategy for growth and jobs, an effective framework for preventing and correcting excessive budgetary positions (the Stability and Growth Pact), a robust framework for preventing and correcting macro- economic imbalances focusing on vulnerabilities, competitiveness losses and high debt levels of Member States, enhanced financial market regulation and supervision (including macro-prudential supervision by the European Systemic Risk Board) as well as a credible permanent crisis resolution mechanisms.
Amendment 90 #
Proposal for a regulation – amending act
Recital 4 b (new)
Recital 4 b (new)
(4b) The economic governance framework should complement and be compatible with a Union strategy for growth and jobs which aims at boosting the Union's competitiveness and social stability.
Amendment 95 #
Proposal for a regulation – amending act
Recital 4 c (new)
Recital 4 c (new)
(4c) The European semester for economic policy coordination should play a vital role in implementing the requirement under Article 212(1) of the Treaty on the Functioning of the European Union (TFEU) that Member States regard their economic policies as a matter of common concern and that they coordinate them accordingly. Transparency and independent oversight are an integral part of economic governance and should be enhanced at European and national level. The Council and the Commission should make public and set out the reasons for their positions and decisions at appropriate stages of the economic policy coordination procedures. The national budgetary frameworks should enhance the role of independent fiscal bodies and ensure the publication of transparent fiscal statistics.
Amendment 98 #
Proposal for a regulation – amending act
Recital 4 d (new)
Recital 4 d (new)
(4d) This Regulation should enter into force as soon as possible after its adoption. The Commission should, when making proposals for measures to implement this Regulation, take into account the current economic situation of the concerned Member States in case of severe economic downturns and all other relevant factors.
Amendment 103 #
Proposal for a regulation – amending act
Recital 4 e (new)
Recital 4 e (new)
(4e) Article 3 of the Protocol (No 12) on the excessive deficit procedure annexed to the Treaties provides that Member States ensure that national procedures in the budgetary area enable them to meet their obligations in this area deriving from the Treaties. Member States whose currency is the euro should therefore anchor the objectives of the Union fiscal framework in national law, and should ensure that adequate budgetary procedures and bodies are in place to meet those objectives.
Amendment 115 #
Proposal for a regulation – amending act
Recital 5 a (new)
Recital 5 a (new)
(5a) An assessment of the sustainability of public finances, including the debt level, debt profile (including maturity), the cost of ageing and debt dynamics should be more strongly taken into account in the pace of convergence towards Member State-specific medium-term budgetary objectives to be included in the Stability and Convergence Programmes.
Amendment 118 #
Proposal for a regulation – amending act
Recital 5 b (new)
Recital 5 b (new)
(5b) The framework to control public and private debt should support long-term growth, and should improve preconditions for investments and develop the internal market, whilst respecting Member State’s specific priorities and needs
Amendment 130 #
Proposal for a regulation – amending act
Recital 7 a (new)
Recital 7 a (new)
(7a) The establishment of the existence of an excessive deficit based on the debt criterion and the steps leading to it should be based on non-compliance with the numerical benchmark, and take into account the relevant factors covered by the Commission report under Article 126(3) TFEU.
Amendment 133 #
Proposal for a regulation – amending act
Recital 8
Recital 8
Amendment 158 #
Proposal for a regulation – amending act
Recital 14 a (new)
Recital 14 a (new)
(14a) In the implementation of the rules- based framework under the Stability and Growth Pact, the Commission and the Council shall take due account of the complementary framework of the European Financial Stability Facility (“EFSF”) or other permanent crisis mechanism set up under Article 136(3) TFEU (“European Stability Mechanism”).To the extent that Member States are eligible to have recourse to such mechanism, they may be invited by the Commission and the Council to proceed to the required application.
Amendment 174 #
Proposal for a regulation – amending act
Article 1 – point 2 – point b
Article 1 – point 2 – point b
Regulation (EC) No 1467/97
Article 2 – paragraph 1a
Article 2 – paragraph 1a
1a. When it exceeds the reference value, the ratio of the government debt to gross domestic product (GDP) is to be considered sufficiently diminishing and approaching the reference value at a satisfactory pace in accordance with Article 126 (2) (b) of the Treaty if the differential with respect to the reference value has reduced over the previous three years at an annual rate of the order ofat least one- twentieth per year. For a period of 3 years from [the date of entering into force of this Regulation - to be inserted], account shall be taken of the backward- looking nature of this indicator in its application.
Amendment 236 #
Proposal for a regulation – amending act
Article 1 – point 3 – point c
Article 1 – point 3 – point c
Regulation (EC) No 1467/97
Article 3 – paragraph 4
Article 3 – paragraph 4
4. The Council recommendation made in accordance with Article 126(7) of the Treaty shall establish a deadline of sixfour months at most for effective action to be taken by the Member State concerned. The Council recommendation shall also establish a deadline for the correction of the excessive deficit, which should be completed in the year following its identification unless there are special circumstances. In the recommendation, the Council shall request that the Member State achieves annual budgetary targets which, on the basis of the forecast underpinning the recommendation, are consistent with a minimum annual improvement of at least 0,5 % of GDP as a benchmark, in its cyclically adjusted balance net of one-off and temporary measures, in order to ensure the correction of the excessive deficit within the deadline set in the recommendation.
Amendment 241 #
Proposal for a regulation – amending act
Article 1 – point 3 – point d
Article 1 – point 3 – point d
4a. Within the deadline of sixfour months at most provided for in paragraph 4, the Member State concerned shall report to the Commission and the Council on action taken in response to the Council recommendation under Article 126(7) of the Treaty. The report shall include the targets for the government expenditure and for the discretionary measures on the revenue side consistent with the Council recommendation under Article 126(7) of the Treaty, as well as information on the measures taken and the nature of those envisaged to achieve the targets. The report shall be made public.
Amendment 267 #
Proposal for a regulation – amending act
Article 1 – point 5 – point c
Article 1 – point 5 – point c
Regulation (EC) No 1467/97
Article 5 – paragraph 2
Article 5 – paragraph 2
2. If effective action has been taken in compliance with a notice under Article 126(9) of the Treaty and unexpected adverse economic events with major unfavourable consequences for government finances occur after the adoption of that notice, the Council may decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) of the Treaty. The revised notice, taking into account the relevant factors mentioned in Article 2(3) of this Regulation, may notably extend the deadline for the correction of the excessive deficit by one year as a rule. The Council shall assess the existence of unexpected adverse economic events with major unfavourable consequences for government finances against the economic forecasts in its notice. The Council may also decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) of the Treaty in case of a severe economic downturn of a general nature.
Amendment 275 #
Proposal for a regulation – amending act
Article 1 – point 7
Article 1 – point 7
Regulation (EC) No 1467/97
Article 7
Article 7
7. in Article 7, the reference to ‘"If a participating Member State fails to act in compliance with the successive decisions of the Council in accordance with Article 4(2126(7) and (39) of Regulation (EC) No 3605/93’ is replaced by the reference to ‘TFEU, the decision of the Council to impose sanctions, in accordance with Article 126(11) TFEU, shall be taken as a rule within ten months of the reporting dates established in Article 3(2) and (3) of Regulation (EC) No 479/2009’. In case Article 3(5) or 5(2) of this Regulation is applied, the sixteen-month deadline is amended accordingly. An expedited procedure shall be used if the Council considers such excessive deficit was reasonably foreseeable at the date at which the budget was established. The European Parliament may invite the Member State to report to its competent committee."
Amendment 306 #
Proposal for a regulation – amending act
Article 1 – point 14
Article 1 – point 14
Regulation (EC) No 1467/97
Article 16
Article 16
Fines referred to in Article 12 of this Regulation shall constitute other revenue referred to in Article 311 of the Treaty and shall be distributed among participating Member States which do not have excessive deficit as determined in accordance with Article 126(6) of the Treaty and which are not the subject of an excessive imbalance procedure within the meaning of Regulation (EU) No […/…], in proportion to their share in the total gross national income (GNI) of the eligible Member Statesbe credited to the European Financial Stability Facility or, upon its expiry, to the permanent crisis mechanism (“European Stability Mechanism”) set up under Article 136(3) TFEU ..