4 Amendments of Giorgos GRAMMATIKAKIS related to 2015/0009(COD)
Amendment 138 #
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7a) On 13 January 2015, the European Commission presented a Communication on flexibility within the Stability and Growth Pact establishing a strong link with the European Fund for Strategic Investments. The Communication clarifies that national contributions to the European Fund for Strategic Investments would be excluded from the calculation of debt and deficit for all Member States. However, for some Member States, especially those under adjustment programmes, it would be impossible to raise such funds and hence would not be able to benefit from this flexibility. In order to create a level playing field, make adjustment smoother and improve debt sustainability, there should be a provision in economic adjustment programmes for a contribution through ESM loans (article 16 of ESM Treaty) to the EFSI for boosting of investment in the programme country until a direct contribution of the ESM is possible following the creation of an appropriate new financial assistance instrument according to Article 19 of the ESM Treaty.
Amendment 216 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of sustainable, low- carbon infrastructure, including in the areas of transport, particularly in industrial centres; energy, in particular energy interconnections that would allow for the further deployment of renewable energy sources in the context of the long- term transition towards a zero-carbon energy model and reduce energy dependence; and digital infrastructure;
Amendment 602 #
Proposal for a regulation
Article 1 – paragraph 2 a (new)
Article 1 – paragraph 2 a (new)
2a. The EFSI agreement shall be open to accession by the ESM in the context of a Member State's adjustment programme when an appropriate ESM financial assistance tool is made available.
Amendment 757 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. The EFSI Agreement shall provide that the EFSI shall be governed by a Steering Board, which shall determine the strategic orientation, the strategic asset allocation and operating policies and procedures, including the investment policy of projects that EFSI can support and the risk profile of the EFSI,. When establishing the investment policy of projects that EFSI can support and the risk profile of the EFSI, the Steering Board shall take into account the need for significantly higher risk-taking than normal EIB operations in order to effectively reduce the investment gap by addressing market failures and high sector-specific and country-specific risks in conformity with the objectives under Article 5(2). The Steering Board shall elect one of its members to be Chairperson.