BETA

28 Amendments of Fabio DE MASI related to 2016/0276(COD)

Amendment 53 #
Proposal for a regulation
The European Parliament rejects the Commission proposal.
2017/03/27
Committee: BUDGECON
Amendment 58 #
Proposal for a regulation
Recital -1 (new)
(–1) There is an investment gap in the EU that is compromising the resumption of economic growth.
2017/03/27
Committee: BUDGECON
Amendment 59 #
Proposal for a regulation
Recital -1 a (new)
(–1a) There is a liquidity surplus in the banking system, which does not suggest market failure at investment level.
2017/03/27
Committee: BUDGECON
Amendment 60 #
Proposal for a regulation
Recital -1 b (new)
(–1b) There are some reservations with regard to the implementation of the EFSI, particularly in relation to additionality, excessive geographical and thematic concentration and the governance model, concerns which have also been expressed in the Court of Auditors report.
2017/03/27
Committee: BUDGECON
Amendment 61 #
Proposal for a regulation
Recital -1 c (new)
(–1c) The plan to turn the EFSI into a permanent instrument could transform it into a further anti-democratic element in the distribution among the Member States of private investment with public support.
2017/03/27
Committee: BUDGECON
Amendment 62 #
Proposal for a regulation
Recital -1 d (new)
(–1d) Only a genuinely public investment plan geared to social, economic and territorial cohesion will be capable of helping to increase aggregate demand and carry out investment in public infrastructure, which may subsequently leverage and boost private investment. Only a plan of this nature can be effective in reviving growth, fighting unemployment and combating social, economic and territorial inequalities.
2017/03/27
Committee: BUDGECON
Amendment 65 #
Proposal for a regulation
Recital 1
(1) Since the Investment Plan for Europe was presented in November 20143 , the conditions for an uptake in investment have improved and confidence in Europe’s economy and growth are returningonly marginally improved. The Union is now in its fourth year of moderate recovery, with Gross Domestic Product growing at 2% in 2015. The comprehensive efforts initiatHowever, growth is unevenly distributed among Member States and mainly export led, with the Investmecurrent account Pbalan arece of the Euro already delivering concrete results, despite the fact that macroeconomic effects of larger investment projects cannot be immediate. Investment is expected to pick up gradually throughout 2016 and 2017 although it remains below historical levels exceeding 3% of GDP in 2016. Investment remains subdued and still below historical levels. So far, efforts initiated with the Investment Plan failed to close the investment gap in the EU. _________________ 3 COM(2014) 903 final.
2017/03/27
Committee: BUDGECON
Amendment 70 #
Proposal for a regulation
Recital 2
(2) That positive momentum should be maintained and efforts need to be continuedo build momentum to bring investment back to its long-term sustainable trend. T, the mechanisms of the Investment Plan work and should be reinforced to continue the mobilisation of private investments in sectors important to Europe's future and where market failures or sub-optimal investment situations remaincomplemented by public investment programs and reinforced efforts to mobilize investments in sectors important to Europe's future.
2017/03/27
Committee: BUDGECON
Amendment 110 #
Proposal for a regulation
Recital 8
(8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise privateublic sector financing in investments crucial for Europe's future job creation – including for the youth –, and growth and competitiveness with strengthenwith ensured additionality. They include investments in the areas of energy, environment and climate action, social and human capitaleconomy and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and eand the EU 2050 commitment to reduce Greenhouse gas emissions by 80-95%, must be reinforced. Energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion countryor fossil fuel projects must be avoided. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculture come within the general objectives eligible for EFSI support.
2017/03/27
Committee: BUDGECON
Amendment 132 #
Proposal for a regulation
Recital 9
(9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. Only public operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union. EFSI should not finance public-private- partnership projects in infrastructure, given that these are in general more expensive for tax payers and consumers.
2017/03/27
Committee: BUDGECON
Amendment 147 #
Proposal for a regulation
Recital 10
(10) Due to their potential to increase the efficiency of the EFSI intervention, blending operations combining non- reimbursable forms of support and/or financial instruments from the Union budget, such as those available under the Connecting Europe Facility, and financing from EIB Group, including EIB financing under the EFSI, as well as other investors should be encouraged. Blending aims to enhance the value added of Union spending by attracting additional resources from private investors and to ensure the actions supported become economically and financially viable.deleted
2017/03/27
Committee: BUDGECON
Amendment 161 #
Proposal for a regulation
Recital 11
(11) In order to reinforce the take-up of the EFSI in less-developed and transition regions, and to encourage social and regional cohesion through the creation of quality jobs and the broadening and improvement of the productive base of Member States, especially those most affected by the crisis, the scope of the general objectives eligible for EFSI support should be enlarged.
2017/03/27
Committee: BUDGECON
Amendment 186 #
Proposal for a regulation
Recital 14
(14) In order to partly finance the contribution from the general budget of the Union to the EU guarantee fund for the additional investments to be made, a transfer should be made from the available envelope of the Connecting Europe Facility (CEF), provided for in Regulation (EU) No 1316/2013 of the European Parliament and of the Council4 . Moreover, EUR 1 145 797 000 of appropriations should be transferred from the CEF financial instruments to the grant part of the CEF with a view to facilitating blending with the EFSI or to other relevant instruments, in particular those dedicated to energy efficiency. _________________ 4Regulation (EU) No 1316/2013 of the European Parliament and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010, OJ L 348, 12.2013, p. 129.deleted
2017/03/27
Committee: BUDGECON
Amendment 190 #
Proposal for a regulation
Recital 16
(16) In line with the exceptional market demand for SME financing under the EFSI which is expected to continue, the EFSI SME Window should be enhanced. Particular attention should be paid to social enterprises, including through the development and deployment of new instrument with additional resources, as well as the support capacities for SME of the advisory hub. Particular attention should be paid to social enterprises.
2017/03/27
Committee: BUDGECON
Amendment 210 #
Proposal for a regulation
Recital 18
(18) With a view to enhancing the transparency of EFSI operations, the Investment Committee should explain in its decisions, which are made public and accessible, the reasons why it deems that an operation should be granted the EU guarantee, with particular focus on compliance with the additionality criterion. The scoreboard of indicators should be made public once an operation under the EU guarantee is signapproved.
2017/03/27
Committee: BUDGECON
Amendment 248 #
Proposal for a regulation
Recital 22
(22) Regulation (EU) No 1316/2013 and Regulation (EU) No 2015/1017 should therefore be amended accordingly,
2017/03/27
Committee: BUDGECON
Amendment 288 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) No 2015/1017
Article 5 – paragraph 1 – subparagraph 5
ThePublic projects supported by the EFSI that consist of physical infrastructure linking two or more Member States or of the extension of physical infrastructure or services linked to physical infrastructure from one Member State to one or more Member States, shall also be considered to provide additionality.
2017/03/27
Committee: BUDGECON
Amendment 296 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) No 2015/1017
Article 6 – paragraph 1 – introductory part
(3) In Article 6(1), the introductory words are replaced by the following: ‘The EFSI Agreement shall provide that the EFSI is to support projects which address market failures or sub-optimal investment situations and which:’;deleted
2017/03/27
Committee: BUDGECON
Amendment 335 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point d
Regulation (EU) No 2015/1017
Article 7 – paragraph 12 – subparagraph 2 – second sentence
Decisions approving the use of the EU guarantee shall be public and accessible, and include the rationale for the decision, with particular focus on compliance with the additionality criterion. The publication shall not contain commercially sensitive information. In reaching its decision, the Investment Committee shall be supported by the documentation provided by the EIB.
2017/03/27
Committee: BUDGECON
Amendment 345 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point -a (new)
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – point c – introductory part
(-a) in Article 9, in paragraph 2 point (c) is replaced by the following: ‘(c) development of transport infrastructures, and equipment and innovative technologies for transport, avoiding any finance to intensive fossil fuel infrastructures such as motorway and airports, in particular through:
2017/03/27
Committee: BUDGECON
Amendment 364 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – subparagraph 1 a
The EIB shall target that at least 480 % of EFSI financing under the infrastructure and innovation window supports projects with components that contribute to climate action, in line with the COP21 commitmentscluding at least 35% of EFSI financing to support energy efficiency projects, are in line with the COP21 commitments and the EU 2050 commitments to reduce greenhouse gas emission by 80-95%. The Steering Board shall provide detailed guidance to that end.
2017/03/27
Committee: BUDGECON
Amendment 391 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Regulation (EU) No 2015/1017
Article 10 – paragraph 2 – point a
(a) EIB loans, guarantees, counter- guarantees, capital market instruments, any other form of funding or credit enhancement instrument, including subordinated debt, equity or quasi-equity participationsany other form of funding instrument, including in favour of national promotional banks or institutions, investment platforms or funds;
2017/03/27
Committee: BUDGECON
Amendment 406 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a – point i
Regulation (EU) No 2015/1017
Article 14 – paragraph 1 – subparagraph 1 – second sentence
Such support shall include providing targeted support on the use of technical assistance for project structuring, on the use of innovative financial instruments and on the use of public-private partnerships, taking into account the specificities and needs of Member States with less-developed financial markets technical assistance available.
2017/03/27
Committee: BUDGECON
Amendment 418 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b – point i
Regulation (EU) No 2015/1017
Article 14 – paragraph 2 – point c
(c) leveraging local knowledge to facilitate EFSI support across the Union and contributing where possible to the objective of sectorial and geographical diversification of the EFSI referred to in Section 8 of Annex II by supporting the EIB to originate operations;;
2017/03/27
Committee: BUDGECON
Amendment 446 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 a (new)
Regulation (EU) No 2015/1017
Article 16 – paragraph 2 – point j a (new)
(9 a) in Article 16(2) the following point is added: ‘(ja) detailed information on the tax payments resulting from its investment and lending operations under the EFSI;’
2017/03/27
Committee: BUDGECON
Amendment 461 #
Proposal for a regulation
Article 1 – paragraph 1 – point 12
Regulation (EU) No 2015/1017
Article 22 – paragraph 1 – subparagraph 2
In particular the EIB and the EIF shall not participate in any financing or investment operation through a vehicle located in a jurisdiction that does not co-operate with the Union in relation to the application of the internationally agreed tax standards s whose legal framework or administrative practices facilitate or tolerate tax evasion, tax avoidance or money laundering. In this context, the EIB's and the EIF's policy towards weakly regulated or non-cooperative jurisdictions shall be based on policies of the Union, the Organisation for Economic Co-operation and Development or the Financial Action Task Force and go beyond transparency and exchange of information. hose recommendations if necessary to detect further risks of tax evasion, tax avoidance and money laundering.
2017/03/27
Committee: BUDGECON
Amendment 467 #
Proposal for a regulation
Article 1 – paragraph 1 – point 12 a (new)
Regulation (EU) No 2015/1017
Article 22 – paragraph 2
(12 a) paragraph 2 is replaced by: ‘2. In its financing and investment operations covered by this Regulation, the EIB and the EIF shall apply the principles and standards set out in Union law on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing and in particular in Regulation (EU) 2015/847 of the European Parliament and of the Council (18) and Directive (EU) 2015/849 of the European Parliament and of the Council (19). In particular, the EIB and the EIF shall make both direct funding and funding via intermediaries under this Regulation contingent upon the disclosure of beneficial ownership information in accordance with Directive (EU) 2015/849. and country-by-country reporting data equivalent to the provisions for credit institutions in Directive (EU) 2013/36 (CRD IV) .’
2017/03/27
Committee: BUDGECON
Amendment 478 #
Proposal for a regulation
Article 2
Regulation (EU) No 1316/2013
Article 5 – paragraph 1
Regulation (EU) No 1316/2013 is amended as follows: (1) in Article 5, paragraph 1 is replaced by the following: ‘1. The financial envelope for the implementation of the CEF for the period 2014 to 2020 is set at EUR 29 992 259 000 in current prices. That amount shall be distributed as follows: (a) 000, of which EUR 11 305 500 000 shall be transferred from the Cohesion Fund to be spent in line with this Regulation exclusively in Member States eligible for funding from the Cohesion Fund; (b) telecommunications sector: EUR 1 091 602 000; (c) These amounts are without prejudice to the application of the flexibility mechanism provided for under Council Regulation (EU, Euratom) No 1311/2013(*). ________________ (*) Council Regulation (EU, Euratom) No 1311/2013 of 2 December 2013 laying down the multiannual financial framework for the years 2014-20 (OJ L 347, 20.12.2013, p. 884)..’Article 2 deleted transport sector: EUR 23 895 582 energy sector: EUR 5 005 075 000.
2017/03/27
Committee: BUDGECON