84 Amendments of Jonás FERNÁNDEZ related to 2023/0138(COD)
Amendment 153 #
Proposal for a regulation
Recital 4
Recital 4
(4) The involvement ofIn order to increase the democratic accountability of the fiscal governance framework, the effective involvement of the European Parliament is key as well as the structured involvement of national parliaments, local and regional authorities, social partners, civil society organisations and other relevant stakeholders in the European Semester is keyand in the economic governance process as a whole to ensure ownership and transparent and inclusive policy-making.
Amendment 158 #
Proposal for a regulation
Recital 5
Recital 5
(5) The economic governance framework of the Union should be adapted to better take into account the growing heterogeneity and challenges of fiscal positions, and public debt challenges and other vulnerabilities acrossacross the Member States, national public investment gaps and needs to achieve the priorities of the Union, together with other vulnerabilities. The framework should also provide enough flexibility and be capable of quickly adapt to unexpected and structural shocks with asymmetric impact on Member States. The strong and coordinated policy response to the COVID-19 pandemic, supported by bold, innovative and common instruments at EU level, proved highly effective in mitigating the economic and social damage of the crisis, but tturning the EU economy more resilient and credible to financial markets. The crisis resulted in a significant increase in public- and private-sector debt ratios, underscoring the importance of reducing debt ratios to prudent levels in a gradual, sustained, and growth-friendly and inclusive manner and addressing macroeconomic imbalances, while paying due attention to employment and social objectives and upward social convergence. At the same time, the economic governance framework of the Union should be adapted, to helpprovide, with a level playing field, the necessary fiscal space - at EU and Member State level to address the medium- and long-term challenges facing the Union including achieving a fair digital and green transition, including the Climate Law22 , ensuring energy security, open strategic autonomy, addressing demographic change, strengthening social and economic resilience and implementing the strategic compass for security and defence, all of which requires reforms and sustained high levels of investment in the years to come. _________________ 22 The European Climate Law sets a Union-wide climate neutrality objective by 2050 and requires Union institutions and Member States to progress in enhancing adaptive capacity, requiring significant public investment to reduce the negative socio-economic impacts of climate change on the EU and its Member States, including negative impacts on growth and fiscal sustainabilitystrengthening social and economic resilience, including the implementation of the Pillar of Social Rights, ensuring energy security, open strategic autonomy, addressing demographic.
Amendment 171 #
Proposal for a regulation
Recital 6
Recital 6
(6) The economic governance framework of the Union should put debt sustainability, investment and reforms, the common priorities of the Union and sustainable and inclusive growth at its core on equal footing and therefore differentiate between Member States by taking into account their public debt challenges and allowing country-specific fiscal trajectories, and ensure consistency among the Union as a whole, including the euro area.
Amendment 180 #
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6 a) To achieve the central objective of the reform of this framework - to strengthen public debt sustainability while promoting sustainable and inclusive growth in all Member States and respond fully to the sustained high levels of investment needed to finance EU public goods to address the current and future strategic priorities of the EU - , this framework would be better equipped, if supported by a central and permanent investment instrument. The lessons learned from the implementation of EU instruments, such as SURE or NextGenerationEU, could serve as constructive models for forthcoming investment and macroeconomic stabilisation mechanisms aimed at strengthening the fiscal governance framework.
Amendment 181 #
Proposal for a regulation
Recital 6 b (new)
Recital 6 b (new)
(6 b) In order to increase the legitimacy of the European semester, in order to account for the far-reaching consequences of measures adopted in the context of the European semester on the economic and fiscal course of action and the social fabric of the Member States and in order to ensure appropriate public scrutiny, the European semester should only be launched by a legislative act in the form of a decision on a proposal made by the Commission, based on Article 121(6) TFEU, and promptly adopted jointly by the European Parliament and the Council. In this decision, the European Parliament and the Council define, in the recitals, their benchmarks for the outcome of the European semester that is to be launched. The European Commission has to take due account of this decision and its recitals when adopting its communication on the Annual Sustainability Growth Survey. By the same token, the Commission takes due account of the Annual Sustainability Growth Survey, the Council’s conclusions and the European Parliament’s resolutions thereon when drafting the recommendations for the draft broad guidelines of the economic policies of the Member States and the Union pursuant to Article 121(2) TFEU and the proposal for the guidelines for employment pursuant to Article 148(2) TFEU. The European Parliament evaluates the Commission's role in the previous European semester against the benchmark of launching decision, the Annual Sustainability Growth Survey and the Parliament’s resolution thereon when adopting the decision to launch the subsequent European semester.
Amendment 182 #
Proposal for a regulation
Recital 6 c (new)
Recital 6 c (new)
(6 c) In order to set out the detailed arrangements of the interinstitutional relationship between the European Parliament and the European Commission in the context of the European semester, both institutions should conclude an interninstitutional agreement between each other on the involvement of the European Parliament in the drafting and approval of the Annual Sustainability Growth Survey, of the broad economic policy and employment guidelines, of the reference trajectory, of the medium-term fiscal- structural plans, of the country-specific recommendations. In order to increase the personal accountability of the Commissioner responsible for the implementation of the European semester, the President of the Commission should commit itself, as a rule, to request that Commissioner to resign, in accordance with Article 17(6) TEU and Point 5 of the Framework Agreement on relations between the European Parliament and the Commission, if Parliament asks the President of the Commission to withdraw confidence in that Commissioner on the basis of a negative assessment of the outcome of the European semester. If the President refuses exceptionally to require resignation, she/he explains his/her refusal to do so before Parliament in the following part-session.
Amendment 183 #
Proposal for a regulation
Recital 6 d (new)
Recital 6 d (new)
(6 d) In order to promote upward social convergence, the multilateral surveillance procedure set out in Article 148(4) TFEU is complemented with an early warning system within the European Semester (Social Convergence Framework). Within the Social Convergence Framework, the Commission - pursuant to Article 148 TFEU - first identifies risks to upward convergence for Member States in the Joint Employment Report based on the Social Scoreboard headline indicators. In the second stage, the Commission identifies Member States requiring further examination and publishes the ‘Social Convergence Reports’ for those Member States identified as facing risks to upward social convergence. The country-specific conclusions of the multilateral surveillance activities under the new framework should provide input to the Commission’s reflection on CSR proposals.
Amendment 199 #
Proposal for a regulation
Recital 10
Recital 10
(10) Cohesion policy funds are also synchronised with the European Semester process. As the long-term investment policy of the EU budget, strengthening economic, social and territorial cohesion, cohesion policy investments and reforms should also be duly taken into account in the drawing of the national medium-term fiscal-structural plans. Each Member State should also explain how its national medium-term fiscal-structural plan will ensure consistency with the expenditure on EU programmes fully matched by EU funds revenue and the relevant national co- financing.
Amendment 217 #
Proposal for a regulation
Recital 13
Recital 13
(13) To provide guidance to the Member States ininitiate the drafting of theirits national medium-term fiscal-structural plan, the Commission should put forward a technicaleach Member State, having a public debt above the 60% of GDP reference value or a government deficit above the 3% of GDP reference value, should put forward a proposal for a reference trajectory to the Commission. The trajectory should be based on the minimum fiscal adjustment that brings the debt trajectory of the Member State on a plausibly downward path leading to sustainable debt reduction or maintains debt at a prudent level. It should also ensure that the public debt ratio at the end of the planning horizon declines below its level in the year before the start of the technical trajectoryis reduced by at least [0,1] p.p of debt to GDP on average over the adjustment period plus 10 years. The sustainability of that debt reduction should result from appropriate fiscal policies.
Amendment 272 #
Proposal for a regulation
Recital 26
Recital 26
(26) To inform enforcement actions, in particular a report under Article 126(3) TFEU, the Commission should set up a control account for each Member State to keep track of annual deviations of the net expenditure observed in the Member State from the net expenditure path set by the Council, summing those deviations over time. A Member State will be deemed not to be in compliance of its net expenditure path where the cumulated balance of the control account during the adjustment period is higher than [X% of GDP] in the years of positive GDP growth. It should be netted out from the control account, the years where Member States implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union, the years where Member States suffer exceptional circumstances outside its control that lead to a major impact on the public finances, the years where the structural primary balance remains above X% during the adjustment period.
Amendment 276 #
Proposal for a regulation
Recital 27
Recital 27
(27) Independent fiscal institutions have proven their capacity to foster fiscal discipline and strengthen the credibility of Member States’ public finances. In order to enhance national ownership, the role of independent fiscal institutions, traditionally mandated to monitor compliance with the national framework, should be expanded to the economic governance framework of the Union with an appropriate balance with the role of the European Parliament in order to increase the overall democratic accountability of the framework.
Amendment 282 #
Proposal for a regulation
Recital 28 a (new)
Recital 28 a (new)
(28 a) Unlike in other major advanced economies, the euro-area aggregate fiscal stance is not based on a single budget voted for by a single parliament, but on the aggregation of twenty national budgets and the EU budget. It is therefore accidental if the sum of country-specific fiscal stances corresponds with the optimal aggregate fiscal stance as recommended by the Council. In the absence of a euro-area instrument for stabilising economic cycles, stronger coordination among the different national fiscal stances is needed. In order to achieve a European fiscal stance consistent with the optimal fiscal stance as recommended by the Council, national medium-term fiscal-structural plans should internalise the effects of national fiscal policies on the euro-area as a whole. Moreover, the European Fiscal Board should be entrusted with the definition of an unconstrained optimal aggregate fiscal stance and its constrained version according to the rules laid down in this Regulation. This exercise should be done for the euro area as a whole and for each euro-area Member State. The Commission should amend its Decision (EU) 2015/1937 accordingly.
Amendment 307 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation sets out rules ensuring effective coordination of economic policies of the Member States and of the European Union as a whole, thereby supporting the achievement of the Union’s objectives for growth and employment.
Amendment 310 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
It lays down detailed rules concerning the content, submission, assessment and monitoring of national medium-term fiscal- structural plans, as part of multilateralwell as on the management of the EU budgets and debt, as part of budgetary surveillance by the Council, the European Parliament and the Commission so as to promote debt sustainability and sustainable and inclusive growth in the Member States and prevent the occurrence of excessive government deficits, by medium-term planningto ensure effective and coherent consolidation of the national fiscal policies, in particular in the context of the monetary union.
Amendment 312 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
It lays down detailed rules concerning the content, submission, assessment and monitoring of national medium-term fiscal- structural plans as part of multilateral budgetary surveillance by the Council and the Commission so as to promote debt sustainability, with involvement of the European Parliament, so as to promote debt sustainability, investments and reforms, common priorities of the Union, and sustainable and inclusive growth and upward social convergence in the Member States and prevent the occurrence of excessive government deficits, by medium- term planning ensuring consistency among the Union, including the euro area.
Amendment 343 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5 a (new)
Article 2 – paragraph 1 – point 5 a (new)
(5 a) ‘European medium-term fiscal- structural plan’ means the document containing the Union budgetary commitmments, the evolution of the Union public debt, the guarantees supported by the Union budget, interest expenditure and any liabilities, actual or contingent, of the European Commission;
Amendment 349 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6
Article 2 – paragraph 1 – point 6
(6) ‘national annual progress report’ means the document of a Member State reporting on the implementation of the net expenditure path, and of the reforms and investment commitments included in its national medium-term fiscal-structural plan;
Amendment 350 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6 a (new)
Article 2 – paragraph 1 – point 6 a (new)
(6 a) ‘European annual progress report’ means the document of the Commission containing the Union budgetary commitmments, the evolution of the Union public debt, the guaranntees suppoted by the Union budget, interest expenditure, and any liabilities, actual or contingent, of the Commission.
Amendment 370 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
In order to ensure closer coordination of economic policies and sustained convergence of the economic and social performance of the Member States, the Council, the European Parliament and the Commission shall conduct multilateralbudgetary surveillance within the European Semester in accordance with the objectives and requirements set out in the TFEU. MultilateralThis surveillance shall rely on high quality and independent statistics, produced in accordance with the principles laid down in Regulation (EC) No 223/2009 of the European Parliament and of the Council.
Amendment 389 #
Proposal for a regulation
Article 3 – paragraph 2 – point c
Article 3 – paragraph 2 – point c
(c) the submission, assessment and endorsement of Member States’the medium- term fiscal- structural plans, as well as their monitoring via the annual progress reports;
Amendment 403 #
Proposal for a regulation
Article 3 a (new)
Article 3 a (new)
Article3a Launching the European Semester 1. The European Semester is launched by a decision of the European Parliament and Council, on a proposal by the Commission, based on Article 121(6) of the Treaty on the Functioning of the European Union adopted in accordance with the ordinary legislative procedure. 2. Following the adoption of the decision pursuant to paragraph 1, the European Commission shall adopt a communication on the Annual Sustainability Growth Survey taking due account of the decision referred to in paragraph 1. 3. When drafting the recommendations for the draft broad guidelines of the economic policies of the Member States and the Union pursuant to Article 121(2) of the Treaty on the Functioning of the European Union and when drafting the proposal for the guidelines for employment pursuant to Article 148(2) of the Treaty on the Functioning of the European Union the European Commission shall take due account of Annual Sustainability Growth Survey referred to in paragraph 2.
Amendment 409 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
1. Where necessary, following the assessment pursuant to this Regulation of the medium-term fiscal-structural plans, the annual progress reports and the socio- economic situation of the Member States concerned, and the Union as a whole, the Council shall, on the basis of recommendations from the Commission, address recommendations to those Member States and to the Commission making full use of the legal instruments provided in Articles 121 and 148 TFEU and related secondary legislation.
Amendment 452 #
Proposal for a regulation
Article 6 – paragraph 1 – point b
Article 6 – paragraph 1 – point b
(b) the government deficit is brought and maintained below, on average, the 3% of GDP reference value;
Amendment 460 #
Proposal for a regulation
Article 6 – paragraph 1 – point c
Article 6 – paragraph 1 – point c
(c) the fiscal adjustment effort over the period of the national medium-term fiscal- structural plan is at least proportional to the total effort over the entire adjustment period; If a Member State plans to implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12, that year will be exempted from this rule, meaning that the year will be taken out of the proportionality calculations;
Amendment 471 #
Proposal for a regulation
Article 6 – paragraph 1 – point d
Article 6 – paragraph 1 – point d
(d) the public debt ratio at the end of the planning horizon is below the public debt ratio in the year before the start of the technical trajectory; andis reduced by at least [0,1] p.p of debt to GDP on average over the adjustment period plus 10 years.
Amendment 504 #
Proposal for a regulation
Article 6 – paragraph 1 a (new)
Article 6 – paragraph 1 a (new)
If a Member States deficit is above 3% while the public debt is below the 60% of GDP reference value, the rules in Article 6(1), points (c) and (d), shall not apply.
Amendment 532 #
Proposal for a regulation
Article 7 – paragraph 1 a (new)
Article 7 – paragraph 1 a (new)
1 a. By [1 February] of the year [xxxx], the Commission shall prepare its medium- term fiscal-structural plan which shall include: (a) the underlying framework for forecasting EU public debt and any liabilities, actual or contingent, over the medium term and the outturn; (b) its macroeconomic forecasts and assumptions for the EU economy and an assessment of the fiscal stance of the euro area for the current and future years; (c) developments in interest payments.
Amendment 534 #
Proposal for a regulation
Article 7 – paragraph 1 b (new)
Article 7 – paragraph 1 b (new)
1 b. Following the negotiations, in case of no agreement between the Member State and the Commission on the reference trajectory, the Council may recommend the Member State concerned that the technical trajectory proposed by the Commission be the net expenditure path of the Member State or request a new proposal.
Amendment 535 #
Proposal for a regulation
Article 7 – paragraph 1 c (new)
Article 7 – paragraph 1 c (new)
1 c. In case a Member State does not submit its proposal for a reference trajectory by [1 March] of the same year referred to in paragraph 1, the Commission shall put forward a reference trajectory meeting the requirements set out in Article 6 in its own motion.
Amendment 538 #
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
2. For Member States having a government deficit below the 3% of GDP reference value and public debt below the 60% of GDP reference value, the Commission shall provide technical information regarding the structural primary balance necessary to ensure that the headline deficit is maintained below the 3% of GDP reference value without any additional policy measures over a 10-year period after the end of the national medium-term fiscal-structural plan. Moreover, for Member States in the monetary union, the technical information shall internalise the effects of national fiscal policies on the euro area as a whole, incorporating additional recommendations, which, while consistent with the deficit and the public debt targets of the Member State, contribute to achieve a Union fiscal stance consistent with the economic cycle.
Amendment 555 #
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
To assess plausibility and sustainability that the projected public debt ratio of the Member State concerned is on a downward path or remains at a prudent level, the Commission shall use thea methodology referred to in Annex V. The Commission shall make public its analysis of plausibility and the underlying data. based on the following conditions: (a) public debt ratio should be declining, or stay at prudent levels, under the deterministic scenarios of the Commission’s medium-term public debt projection framework based on the debt sustainability analysis methodology; (b) the risk of the public debt ratio not decreasing in the 5 years following the adjustment period of the national medium-term fiscal-structural plan is sufficiently low, according to the Commission's analysis.
Amendment 557 #
To assess plausibility that the projected public debt ratio of the Member State concerned is on a downward path or remains at a prudent level, and consistent, in the case of the Member States in the monetary union, with the achievement of a fiscal stance in line with the cyclical situation of the economy, the Commission shall use the methodology referred to in Annex V. The Commission shall make public its analysis of plausibility and the underlying data.
Amendment 571 #
Proposal for a regulation
Chapter IV – title
Chapter IV – title
IV NATIONAL MEDIUM-TERM FISCAL- STRUCTURAL PLANS
Amendment 575 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
Each Member State shall submit to the Council, to the European Parliament and to the Commission a national medium-term fiscal-structural plan before end-April following the entry into force of this Regulation. The Member State concerned and the Commission may agree to extend this deadline by a reasonable period if necessary. The Commission shall submit its medium- term fiscal-structural plan to the Council and to the European Parliament before the end of March following the entry into force of this Regulation. The Member State and the Commission shall make their medium-term fiscal- structural plan public.
Amendment 584 #
Proposal for a regulation
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
Prior to submission, Member States shall discuss its draft national medium-term fiscal-structural plan with its respective parliaments. The Member State shall make its national medium-term fiscal- structural plan public, including all the data and documents related to the negotiations and assumptions used for the reference trajectory.
Amendment 596 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Prior to the submission of its national medium-term fiscal-structural plan, the Member State concerned shall hold with the Commission a technical dialogue, with the objective of ensuring that the national medium-term fiscal-structural plan complies with Articles 11, 12 and 14, taking into account the European framework defined by the Commission in its own fiscal-structural plan.
Amendment 600 #
Proposal for a regulation
Article 11 – title
Article 11 – title
Content of the national medium-term fiscal- structural plan
Amendment 626 #
Proposal for a regulation
Article 11 – paragraph 2 a (new)
Article 11 – paragraph 2 a (new)
2 a. The medium-term fiscal-structural plan shall provide the information detailed in Annex II. In particular, it shall include a net expenditure path covering a period of at least four years, as well as the underlying macroeconomic assumptions and the structural and budgetary measures envisaged to demonstrate compliance with the legal EU budgetary requirements. In addition, it shall provide an assessment of the evolution of the consolidated fiscal stance of the monetary union, as well as recommendations on the necessary evolution of the fiscal stance to achieve economic consistency with current and future developments in the economic cycle.
Amendment 644 #
Proposal for a regulation
Article 12 – paragraph 1 – point b
Article 12 – paragraph 1 – point b
(b) explain how it will eEnsure the delivery of investment and reforms responding to the main challenges identified within the European Semester, in the country-specific recommendations, correct the identified macroeconomic imbalances under the Macroeconomic Imbalances Procedure if applicable, and address the common priorities of the Union referred to in Annex VI of this Regulation, including the European Green Deal, European Pillar of Social Rights and the Digital Decade while being consistent with the updated National Energy and Climate Plans and the National Digital Decade Roadmaps;the social convergence reports under the Social Convergence Framework and correct, if applicable, the identified macroeconomic imbalances under the Macroeconomic Imbalances Procedure, the warnings by the Commission, or the recommendations by the Council, made pursuant to Article 121(4) TFEU.
Amendment 660 #
Proposal for a regulation
Article 12 – paragraph 1 – point b a (new)
Article 12 – paragraph 1 – point b a (new)
(b a) address the following common priorities of the Union: (a) The European Green Deal, including the transition to climate neutrality by 2050 and the translation at national level through the National Energy and Climate Plans; (b) The European Pillar of Social Rights, including the related targets on employment, skills and poverty reduction by 2030; (c) The Digital Decade Policy Programme 2030, and reflected at national level through the National Digital Decade Strategic Roadmaps; (d) A Strategic Compass for Security and Defence - For a European Union that protects its citizens, values and interests and contributes to international peace and security.
Amendment 671 #
Proposal for a regulation
Article 12 – paragraph 1 – point d
Article 12 – paragraph 1 – point d
(d) explain how it will ensure consistencEnsure consistency and where appropriate complementarity with the Recovery and Resilience Plan of the Member State concerned during the period of availability of the Recovery and Resilience Facility in accordance with Regulation (EU) 2021/241 and with any EU investment instruments that address the EU common priorities or serve the same purpose as the Recovery and Resilience Facility.
Amendment 674 #
Proposal for a regulation
Article 12 – paragraph 1 – point d a (new)
Article 12 – paragraph 1 – point d a (new)
Amendment 680 #
Proposal for a regulation
Article 12 – paragraph 1 – point d b (new)
Article 12 – paragraph 1 – point d b (new)
(d b) ensure progress in addressing national public investment gaps in alignment with each of the priorities of the Union as stated in Article 12 of Regulation (EC) No 1466/97, recognising that these investments play a pivotal role in supporting the fulfilment of Union objectives and ensuring sustainable and inclusive growth, upward social convergence and fiscal stability;
Amendment 685 #
Proposal for a regulation
Article 12 – paragraph 1 – point d c (new)
Article 12 – paragraph 1 – point d c (new)
(d c) ensure consistency and, where appropriate, complementarity with the EU funds, namely cohesion policy funds the Member State concerned benefits from;
Amendment 686 #
Proposal for a regulation
Article 12 – paragraph 1 – point d d (new)
Article 12 – paragraph 1 – point d d (new)
(d d) ensure consistency with the broad guidelines for the economic policies of the Member States and with the employment guidelines in accordance with Article 121(2) and Article 148(2) TFEU;
Amendment 687 #
When calculating the budget balance, Member States shall be allowed to use alternative accounting views on public investments replacing gross investment expenditure with depreciation on investments in calculating public deficit. This shall apply particularly for those member states whose budget position exceeds the 3% of deficit/GDP reference value.
Amendment 707 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point i
Article 13 – paragraph 2 – subparagraph 2 – point i
(i) be growth enhancing and boost resilience and upward social convergence;
Amendment 730 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point iv
Article 13 – paragraph 2 – subparagraph 2 – point iv
(iv) address relevant country-specific recommendations addressed to the Member State concerned, under Article 121(4) and Article 148(4) TFEU including, where applicable, recommendations issued under the Macroeconomic Imbalances Procedure as well as under the Social Convergence Framework;
Amendment 738 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point v a (new)
Article 13 – paragraph 2 – subparagraph 2 – point v a (new)
(v a) be coherent with the fiscal- structural plan drawn up by the Commission.
Amendment 751 #
Proposal for a regulation
Article 13 – paragraph 4
Article 13 – paragraph 4
4. DCommitments included in the approved Recovery and Resilience Plan during the lifetime of the Recovery and Resilience Facility, in accordance with Regulation (EU) 2021/241, commitments included in the approved Recovery and Resilience Plan and the Partnership Agreement in Multiannual Financial Framework of the Member State concerned canshould be taken into account and be consistent with the overall set of reforms an d investments for an extension of the adjustment period.
Amendment 764 #
Proposal for a regulation
Article 14 – title
Article 14 – title
Revised national medium-term fiscal- structural plan
Amendment 793 #
Proposal for a regulation
Article 14 – paragraph 5 a (new)
Article 14 – paragraph 5 a (new)
5 a. The Commission may review its medium-term fiscal-structural plan before the end of its adjustment period if there are objective circumstances that prevent the implementation of the initial plan or if the request for the review of the national medium-term fiscal-structural plan would have a significant impact on the Commission's plans and forecasts.
Amendment 795 #
Proposal for a regulation
Article 15 – title
Article 15 – title
Assessment of national medium-term fiscal- structural plans by the Commission
Amendment 817 #
Proposal for a regulation
Article 15 – paragraph 2 – point b
Article 15 – paragraph 2 – point b
(b) whether the government deficit is maintained below, on average, the 3% of GDP reference value throughout the duration of the plan or whether the government deficit returns swiftly below the 3% of GDP reference value at the latest by the end of the adjustment period when the deficit is above this reference value at the time of submission of the national medium-term fiscal-structural plan;
Amendment 849 #
Proposal for a regulation
Article 15 – paragraph 2 – point f
Article 15 – paragraph 2 – point f
(f) whether the public debt ratio at the end of the planning horizon is below the public debt ratio in the year before the start of the technical trajectory.is reduced by at least [0,1] p.p of debt to GDP on average over the adjustment period plus 10 years
Amendment 860 #
Proposal for a regulation
Article 15 – paragraph 2 – point f a (new)
Article 15 – paragraph 2 – point f a (new)
(f a) whether the fiscal balances and the projected evolution of the public debt are consistent with the Commission's medium-term fiscal-structural plan.
Amendment 877 #
Proposal for a regulation
Article 16 – title
Article 16 – title
Endorsement of the national medium-term fiscal- structural plan by the Council
Amendment 917 #
Proposal for a regulation
Chapter V – title
Chapter V – title
V IMPLEMENTATION OF THE NATIONAL MEDIUM-TERM FISCAL- STRUCTURAL PLANS
Amendment 918 #
Proposal for a regulation
Article 20 – paragraph 1
Article 20 – paragraph 1
1. Each Member State shall submit to the Commission and to the European Parliament an annual progress report on the implementation of its national medium- term fiscal-structural plan, by 15 April each year at the latest. The Commission shall present to the Parliament and the Council an annual progress report on its medium-term fiscal-structural plan.
Amendment 928 #
Proposal for a regulation
Article 20 – paragraph 4
Article 20 – paragraph 4
4. Each Member State and the Commission shall make itstheir annual progress report public.
Amendment 931 #
Proposal for a regulation
Article 21 – title
Article 21 – title
Monitoring byof the Commissstructural plans implementation
Amendment 940 #
Proposal for a regulation
Article 21 – paragraph 2
Article 21 – paragraph 2
The Commission shall set up a control account, functioning in accordance with Annex IV, and shall keep track of cumulative upward and downward deviations of actual net expenditures from the net expenditure path. The European Parliament and the Council will monitor the implementation of the Commission's medium-term fiscal- structural plan.
Amendment 943 #
Proposal for a regulation
Article 21 – paragraph 2 a (new)
Article 21 – paragraph 2 a (new)
The years where Member States implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12, with a combined size of at least ]x%] of GDP, that lead to a deviation from the net expenditure path, shall not be recorded as deviation from the control account and shall be included among the relevant factors to be assessed when opening an Excessive Deficit Procedure as specified in the Article 126(3)
Amendment 944 #
Proposal for a regulation
Article 21 – paragraph 2 b (new)
Article 21 – paragraph 2 b (new)
The same procedure applies for the years where a Member State suffers exceptional circumstances outside its control that lead to a major impact on the public finances of the Member State concerned, as specified in article 25.
Amendment 945 #
Proposal for a regulation
Article 21 – paragraph 2 c (new)
Article 21 – paragraph 2 c (new)
If the structural primary balance remains above X% during the adjustment period, the Member State would be exempt from the debt-based EDP triggered by deviations on control account.
Amendment 952 #
Proposal for a regulation
Article 22 – paragraph 1
Article 22 – paragraph 1
Each national independent fiscal institution referred to in Article 8 of Council Directive […]32 [on the national budgetary frameworks] shall provide an assessment of compliance of the budgetary outturns data reported in the progress report referred to in Article 20 with the net expenditure path, including of non quantifiable targets and an assessment of the social impact of fiscal adjustment policy choices involving social experts in the process. Where applicable, each national independent fiscal institution shall also analyse the factors underlying a deviation from the net expenditure path. _________________ 32 Council Directive […] of […] [amending Council Directive 2011/85/EU on requirements for budgetary frameworks of the Member States] (OJ …., …, p,…)
Amendment 955 #
Proposal for a regulation
Article 22 – paragraph 1 a (new)
Article 22 – paragraph 1 a (new)
The Commission shall establish the European Advisory Fiscal Board (EFB), an independent expert group, which shall have an advisory role in respect of the Union’s economic policy coordination. The Commission shall have no voting rights. European social partners should be invited as observer members.
Amendment 973 #
Proposal for a regulation
Article 23 – paragraph 2 a (new)
Article 23 – paragraph 2 a (new)
2 a. The Commission shall orally inform the Chair and Vice-Chairs of the competent committee of the European Parliament of the progress made in the preparation of the draft Commission recommendation referred to in paragraph 2. That information shall be treated as confidential.
Amendment 1008 #
Proposal for a regulation
Article 25 – paragraph 2 a (new)
Article 25 – paragraph 2 a (new)
Where Member States face a negative GDP growth or must implement, within a defined timeframe, justifiable and strategically significant investments addressing the common priorities of the Union as outlined in Article 12, with a combined size of at least (X)% of GDP, shall be considered as exceptional circumstances and shall allow Member States to deviate from its net expenditure path.
Amendment 1016 #
Proposal for a regulation
Article 26 – paragraph 2
Article 26 – paragraph 2
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 transparency and accountability, 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 it to discuss the policy guidance to Member States issued by the Commission, conclusions drawn by the European Council and the results of multilateral surveillance carried out under this Regulation. The European Parliament shall discuss and approve, if appropriate, the European medium-term fiscal-structural plan adopted by the Commission no later than 30 days after its publication or revision.
Amendment 1018 #
Proposal for a regulation
Article 26 – paragraph 3
Article 26 – paragraph 3
The President of the Council, and the Commission in accordance with Article 121 TFEU, and, where appropriate, the President of the Eurogroup, shall report annually to the European Parliament and to the European Council on the results of the multilateralbudgetary surveillance.
Amendment 1023 #
Proposal for a regulation
Article 28 a (new)
Article 28 a (new)
Article28a European Parliament and the European Semester An agreement shall be concluded between the European Parliament and Commission on the detailed arrangements for organising the Parliamentary scrutiny of the European Semester and the involvement of the European Parliament in the drafting and approval of the Annual Sustainability Growth Survey, of the broad economic policy and employment guidelines, of the reference trajectory, of the medium-term fiscal- structural plans, of the country-specific recommendations, and for organising the accountability of the Commission and the responsible Commissioner for their activities in implementing this Regulation.
Amendment 1026 #
Proposal for a regulation
Article 29 – paragraph 2
Article 29 – paragraph 2
2. The Council and the Commission shall include in their report to the European Parliament the results of the multilateralbudgetary surveillance carried out pursuant to this Regulation.
Amendment 1055 #
Proposal for a regulation
Article 35 – paragraph 1
Article 35 – paragraph 1
1. The Commission may undertake in- depth surveillancemonitoring missions in Member States which are the subject of recommendations issued pursuant to Article 23 for the purposes of on-site monitoring.
Amendment 1057 #
Proposal for a regulation
Article 35 – paragraph 2 a (new)
Article 35 – paragraph 2 a (new)
2 a. European Commission may invite social partners or other relevant stakeholders to offer their views on the socio-economic situation in the Member State and the identification of any risks or difficulties in complying with the objectives of this Regulation.
Amendment 1062 #
Proposal for a regulation
Article 36 – paragraph 2 – introductory part
Article 36 – paragraph 2 – introductory part
2. The report referred to in paragraph 1 shall assess and review:
Amendment 1070 #
Proposal for a regulation
Article 36 – paragraph 2 a (new)
Article 36 – paragraph 2 a (new)
2 a. The Commission shall submit the report to the European Parliament and to the Council, together with, where appropriate, a legislative proposal for an EU investment instrument to ensure that the central objective of the reform of this framework - to strengthen public debt sustainability while promoting sustainable and inclusive growth and upward social convergence in all Member States and respond fully to the sustained high levels of investment needed to address the current and future strategic priorities of the EU - can be met, or if the framework needs to be complemented by the establishment of a central and permanent investment instrument
Amendment 1107 #
Proposal for a regulation
Annex II – paragraph 1 – point c a (new)
Annex II – paragraph 1 – point c a (new)
(c a) Progress in addressing national public investment gaps in alignment with each of the priorities of the Union as stated in Article 12;
Amendment 1135 #
Proposal for a regulation
Annex II – paragraph 1 – point q
Annex II – paragraph 1 – point q
(q) Information on the public consultations of social partners, civil society organisations and other relevant stakeholders in view of the preparation of the plan and a summary of their contributions to the plan.
Amendment 1136 #
Proposal for a regulation
Annex II – paragraph 1 – point q a (new)
Annex II – paragraph 1 – point q a (new)
(q a) Challenges identified in the social convergence reports under the Social Convergence Framework and the implementation of the European Pillar of Social Rights.
Amendment 1137 #
Proposal for a regulation
Annex II – paragraph 1 – point q b (new)
Annex II – paragraph 1 – point q b (new)
(q b) A quantification, as much as possible, of the expected impacts of reforms and investment referred to under point (k) on fiscal sustainability, sustainable and inclusive growth and quality employment as well as upward social convergence, where applicable in line with commonly agreed methodologies;
Amendment 1151 #
Proposal for a regulation
Annex III – paragraph 1 – point m a (new)
Annex III – paragraph 1 – point m a (new)
(m a) Progress in addressing national public investment gaps in alignment with each of the priorities of the Union as stated in Article 12;
Amendment 1153 #
Proposal for a regulation
Annex III – paragraph 1 – point n
Annex III – paragraph 1 – point n
(n) Information on labour market, skills and social policy developments, and on the implementation of policy measures taken that foster upward social convergence among Member States towards better working and living conditions, in line with the principles of the European Pillar of Social Rights and the Employment Guidelines under Article 148 TFEU. That includes the expected impact of measures, in relation to progress on the national targets on employment, skills and poverty reduction by 2030 and if applicable the expected impact of measures to address the challenges identified under the Social Convergence Framework.
Amendment 1154 #
Proposal for a regulation
Annex III – paragraph 1 – point n a (new)
Annex III – paragraph 1 – point n a (new)
(n a) A quantification, as much as possible, of the expected impacts of reforms and investment referred to under point (k) on fiscal sustainability, sustainable and inclusive growth and quality employment as well as upward social convergence, where applicable in line with commonly agreed methodologies