Activities of Marianne THYSSEN related to 2011/0386(COD)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council on common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area PDF (426 KB) DOC (656 KB)
Amendments (36)
Amendment 56 #
Proposal for a regulation
Recital 3
Recital 3
(3) The amendments to the Stability and Growth Pact increase both the guidance, and, for the Member States whose currency is the euro, incentives for the setting and the implementation of a prudent budgetary policy, in particular through reinforced and more automatic sanctions, while avoiding excessive government deficits. These provisions have created a more robust framework at the level of the Union for the surveillance of national economic and budgetary policies.
Amendment 57 #
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3a) The revised Stability and Growth Pact is based on the objective of sound government finances as a means of strengthening the conditions for price stability and for strong sustainable growth underpinned by financial stability, thereby supporting the achievement of the Union's objectives for sustainable growth and employment.
Amendment 60 #
Proposal for a regulation
Recital 4
Recital 4
(4) The Treaty allows the adoption of specific measures in the euro area which go beyond the provisions applicable to all Member States in order to ensure the proper functioning of the Eeconomic and Mmonetary Unionunion and avoid policies in the Member States that jeopardise that functioning.
Amendment 62 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) Member States should refrain from adopting any measure which could jeopardise the attainment of the Union's objectives in the framework of the economic and monetary union, in particular the practice of accumulating debts outside the general government accounts.
Amendment 64 #
Proposal for a regulation
Recital 5
Recital 5
(5) Strong public finances are best ensured at the planning stage and gross errors should be identified as early as possible. Member States should benefit not just from the setting of guiding principles and budgetary targets but also from a synchronised monitoring of their budgetary policies. With a view to better coordinating the planning of their national debt issuance Member States need to report ex-ante on their public debt issuance plans.
Amendment 72 #
Proposal for a regulation
Recital 6
Recital 6
(6) Setting-up a common budgetary timeline for Member States whose currency is the euro should better synchronize the key steps in the preparation of national budgets, thus contributing to the effectiveness of the European semester for economic and budgetary policy coordination. Adopting a common budgetary timeline should lead to stronger synergies by facilitating policy coordination among Member States whose currency is the euro and ensure that the Council and Commission recommendations are appropriately integrated in the national process for budget adoption.
Amendment 73 #
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
(6a) The draft central government budgetary plan, which is to be published no later than 15 October should be accompanied by the publication of the main parameters of the draft budgetary plans of all the subsectors of the general government, together with the independent macroeconomic forecasts on which they are based.
Amendment 75 #
Proposal for a regulation
Recital 6 b (new)
Recital 6 b (new)
Amendment 78 #
Proposal for a regulation
Recital 7
Recital 7
(7) There is strong evidence showing the effectiveness of rules-based fiscal frameworks in supporting sound and sustainable fiscal policies. The introduction of national fiscal rules that are consistent with the budgetary objectives set at Union level should be a crucial element to ensure the respect of the Stability and Growth Pact provisions. In particular, Member States should put in place structural balanced budget rules which transpose into national legislation the main principles of the Union fiscal framework. This transposition should be effective through binding rules preferably of a constitutional nature so as to demonstthrough provisions of binding force and permanent character, preferably constitutional, or otherwise guaranteed to be fully respected and adhered to throughout the national budgetary processes. The Member States should put in place at national level an automatic correction mechanism including the nature, the size and the time-fratme of the strongest commitment of national authorities in relation to the Stability and Growth Pactcorrective action to be undertaken, also in the case of exceptional circumstances. That mechanism should fully respect the prerogatives of national parliaments.
Amendment 86 #
Proposal for a regulation
Recital 8
Recital 8
(8) Biased and unrealistic macroeconomic and budgetary forecasts can considerably hamper the effectiveness of budgetary planning and consequently impair commitment to budgetary discipline. Forecasts from independent bodies can provide unbiased and realistic macroeconomic forecasts. The Commission should make public minimum requirements for these independent bodies in order to ensure their credible independence.
Amendment 90 #
Proposal for a regulation
Recital 9
Recital 9
(9) This gradually strengthened surveillance will further complement the existing provisions of the Stability and Growth Pact and strengthen the surveillance of budgetary discipline in Member States whose currency is the euro. A gradually enhanced monitoring procedure should ultimately contribute to better budgetary outcomes to the benefit of all Member States whose currency is the euro and to the benefit of the euro area as a whole. As part of a gradually strengthened procedure, a closer monitoring is particularly valuable to Member States that are subject to an excessive deficit procedure.
Amendment 94 #
Proposal for a regulation
Recital 10
Recital 10
(10) As demonstrated by the sovereign debt crisis, and in particular by the need to put in place common financial backstops, Member States whose currency is the euro share enhanced spill-overs from their budgetary and economic policyies. Each of the Member States whose currency is the euro should consult the Commission and other Member States whose currency is the euro before the adoption of any major fiscal policy reform plans with potential spill-over effects, so as to give the possibility for an assessment of possible impact for the euro area as a whole. They should consider their budgetary plans to be of common concern and submit them to the Commission for monitoring purposes in advance of the plans becoming binding. The Commission should be in a position, if necessary, to adopt as soon as possible and no later than 15 November an opinion on the draft budgetary plan, that the Member State and in particular budgetary authorities should be invited to take into account in the process of the budget law adoption. Such an opinion should ensure that Union's policy guidance in the budgetary area is appropriately integrated in the national budgetary preparations. In particular, this opinion should include an assessment of whether or not the budgetary plans appropriately address the recommendations issued in the context of the European semester in the budgetary area. The Commission should stand ready to present this opinion without delay to the Parliament of the Member State concerned at its request. The extent to which this opinion has been taken into account should be part of the assessment, if and when the conditions are met, leading to the decision to place the concerned Member State in excessive deficit procedure, where no follow-up to the early guidance from the Commission should be considered as an aggravating factor. Also, based on an overall assessment of the plans by the Commission, the Eurogroup and the competent committee of the European Parliament should discuss the budgetary situation and prospects for the euro area.
Amendment 97 #
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10a) In the event of serious non- compliance with the budgetary obligations laid down in the Stability and Growth Pact, the Commission in its opinion on the draft budgetary plan will request, after consultation with the Member State concerned, a revised draft budgetary plan, in accordance with the provisions of this Regulation. This will be the case in particular where the implementation of the initial budgetary plan would put at risk the financial stability of the Member State concerned or risk jeopardising the proper functioning of the economic and monetary union or where the implementation of the initial budgetary plan would entail an obvious significant violation of the recommendations formulated by the Council under the Stability and Growth Pact.
Amendment 100 #
Proposal for a regulation
Recital 11
Recital 11
(11) Member States whose currency is the euro and which are subject to an excessive deficit procedure should be monitored more closely to secure a full and timely correction of the excessive deficit. A closer monitoring should ensure early correction of any deviations from the Council recommendations to correct the excessive deficit. Such monitoring should complement the provisions set out in Regulation (EC) No 1467/97. The modalities of this closer monitoring should be graduated depending on the stage of the procedure the Member State is subject to, as provided for in Article 126 of the Treaty. Member States which are subject to an excessive deficit procedure should present an economic partnership programme including a detailed description of the structural reforms which must be put in place and implemented to ensure an effective and durable correction of their excessive deficits. Where appropriate the social partners will be involved, as it is recognised in the law or national system of each of the Member States.
Amendment 125 #
Proposal for a regulation
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
(2) ‘independent macroeconomic forecasts’ means the macroeconomic and/or budgetary forecasts produced by an independent body or a body endowed with functional autonomy vis-à-vis the fiscal authorities of the Member State which complies with minimum requirements as set up by the Commission;
Amendment 135 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Member States shall make public annually their medium-term fiscal plans in accordance with their medium-term budgetary framework based on independent macroeconomic forecast together with their Stability Programmes, preferably by mid-April and no later than 1530 April.
Amendment 138 #
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
2. Draft budget laws forThe draft central government budgetary plan for the forthcoming year and the main parameters of the draft budgetary plans for all the other subsectors of the general government shall be made public annually no later than 15 October together with the independent macroeconomic forecasts on which they are based.
Amendment 141 #
Proposal for a regulation
Article 3 – paragraph 3
Article 3 – paragraph 3
3. BThe budget laws for the gcenetral government shall be adopted and made public annually no later than 31 December. Member States shall have in place reversionary budget procedures in case that the budget is not adopted by 31 December.
Amendment 148 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
1. Member States shall have in place numerical fiscal rules on the budget balance that implement in the national budgetary processes their medium-term budgetary objective as defined in Article 2a of Regulation (EC) No 1466/97. Such rules shall cover the general government as a whole and be of binding, preferably constitutional, nature force and permanent character, preferably constitutional, or otherwise guaranteed to be fully respected and complied with throughout the national budgetary processes.
Amendment 150 #
Proposal for a regulation
Article 4 – paragraph 1 a (new)
Article 4 – paragraph 1 a (new)
1a. The budgetary position of the general government shall be balanced or in surplus. The budgetary position of the general government shall be deemed to be respected 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. 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 of 0,5% specified above can reach a structural deficit of at most 1,0 % of the gross domestic product at market prices.
Amendment 156 #
Proposal for a regulation
Article 4 – paragraph 1 b (new)
Article 4 – paragraph 1 b (new)
1b. The rules referred to in paragraph 1 shall include a correction mechanism that shall be triggered automatically in the event of significant observed deviations from the medium-term objective or the adjustment path towards it as defined by Article 5(1) of Regulation (EC) No 1466/97. That correction mechanism shall include the obligation to implement measures to correct the deviations over a defined period of time and shall specify in particular the nature, the size and the time-frame of the corrective action to be undertaken, also in the case of exceptional circumstances. The correction mechanism shall fully respect the prerogatives of national parliaments.
Amendment 160 #
Proposal for a regulation
Article 4 – paragraph 1 c (new)
Article 4 – paragraph 1 c (new)
1c. Exceptional circumstances refer to the case of an unusual event outside the control of the Member State concerned which has a major impact on the financial position of the general government or to periods of severe economic downturn as defined in the revised Stability and Growth Pact, provided that the temporary deviation of the Member State concerned does not endanger fiscal sustainability in the medium term.
Amendment 165 #
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. Member States shall have in place an independent fiscal council for monitoring the implementation ofboth ex-ante and ex-post the compliance with national fiscal rules as referred to in paragraph 1.
Amendment 167 #
Proposal for a regulation
Article 4 – paragraph 2 a (new)
Article 4 – paragraph 2 a (new)
2a. The Commission shall make public minimum-term requirements for the independent bodies or bodies endowed with functional autonomy vis-à-vis the budgetary authorities of the Member States referred to in paragraph 1 in order to ensure their credible independence.
Amendment 170 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. Member States shall submit annually to the Commission and the Eurogroup a draft budgetary plan for the forthcoming year no later than 15 October. The draft budgetary plan shall appropriately take into account the Union's policy guidance and recommendations.
Amendment 199 #
Proposal for a regulation
Article 5 – paragraph 5 – subparagraph 1
Article 5 – paragraph 5 – subparagraph 1
Amendment 203 #
Proposal for a regulation
Article 5 – paragraph 5 – subparagraph 2
Article 5 – paragraph 5 – subparagraph 2
Amendment 206 #
Proposal for a regulation
Article 5 – paragraph 6
Article 5 – paragraph 6
6. The Commission shall specifyspecifications of the content of the draft budgetary plan referred to in paragraph 1 shall be set out in a harmonised framework established by the Commission in cooperation with the Member States.
Amendment 213 #
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. The Commission shall, if necessary, adopt an opinion on the draft budgetary plan by 30as soon as possible and no later than 15 November.
Amendment 216 #
Proposal for a regulation
Article 6 – paragraph 1 a (new)
Article 6 – paragraph 1 a (new)
1a. Where the Commission identifies serious non-compliance with the budgetary policy obligations laid down in the Stability and Growth Pact, the opinion referred to in paragraph 1 shall be adopted within two weeks from the submission of the draft budgetary plan. In this opinion the Commission shall request a revised draft budgetary plan from the Member State concerned. This request shall be made public. Paragraphs 2 to 4 in Article 5 shall apply.
Amendment 220 #
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. The Commission opinion shall be made public and, at the request of the Parliament of the Member State concerned, shall be presented without delay by the Commission to the Parliament concerned.
Amendment 229 #
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
4. The Eurogroup and the competent committee of the European Parliament shall discuss opinions of the Commission on the national budgetary plans and the budgetary situation and prospects in the euro area as a whole on the basis of the overall assessment made by the Commission in accordance with paragraph 3. The overall assessment shall be made public.
Amendment 235 #
Proposal for a regulation
Article 6 a (new)
Article 6 a (new)
Article 6a Reporting on debt issuance With a view to better coordinating the planning of their national debt issuance, the Member States shall report ex-ante on their public debt issuance plans to the European Commission and the Eurogroup.
Amendment 254 #
Proposal for a regulation
Article 7 – paragraph 6 – point a
Article 7 – paragraph 6 – point a
(a) carry out and report on a comprehensive independent audit of the accounts of the general government and its subsectors conducted in coordination with national supreme audit institutions, aiming at assessing the reliability, completeness and accuracy of these public accounts for the purposes of the excessive defiocit procedure. In this context, the Commission (Eurostat) shall assess the quality of data reported by the Member State concerned in accordance with Regulation (EC) No 679/20103 ;
Amendment 270 #
Proposal for a regulation
Article 9 a (new)
Article 9 a (new)
Article 9a Economic partnership programmes 1. A Member State that is subject to an excessive deficit procedure shall present to the Commission and the Council an economic partnership programme with a detailed description of the structural reforms which must be put in place and implemented to ensure an effective and durable correction of the excessive deficit. 2. This economic partnership programme shall be presented at the same time as the reports provided for in Article 3(4a) and 5(1a) of Regulation (EC) No 1467/97. 3. The Council, acting on a proposal from the Commission, shall adopt an opinion on the economic partnership programme. The proposal shall be deemed to be adopted by the Council unless it decides, by qualified majority, to reject it within 10 days of its adoption by the Commission. 4. If a corrective action plan exists in accordance with Article 8(1) of Regulation (EU) No 1176/2011, this plan may be amended, as appropriate, in accordance with Article 9(4) of Regulation (EU) No 1176/2011 to replace the economic partnership programme envisaged by this Article.
Amendment 279 #
Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 2 – point b
Article 11 – paragraph 1 – subparagraph 2 – point b
(b) the progress in ensuring closer coordination of economic and budgetary policies and sustained convergence of economic performances of the Member States in accordance with the Treaty.