[ParlTrack]

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 1 a (new)

(1a) The European Parliament rejects the Commission's proposal for a Regulation.

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 1 b (new)

(1b) Non-eurozone Member States are not obliged to implement this Regulation.

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 1 c (new)

(1c) The EU-2020 Strategy, which succeeded the Lisbon Strategy which had failed to produce results, is unable to meet the objectives of full employment and prosperity for all European citizens.

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 1 d (new)

(1d) It is impossible to recover from the crisis and avoid a fresh one by using the same economic tools and the same economic model which caused the crisis in the first place. Any such recovery would be to the detriment of European workers.

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 2 a (new)

(2a) Experience gained during the first decade of the Economic and Monetary Union shows the need to adopt targets and principles of solidarity among Member States, of real economic convergence and of promoting viable growth and full employment.

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 2 b (new)

(2b) The operating rules of EMU and the Stability and Growth Pact do not promote the convergence of eurozone economies. On the contrary, they create and maintain macro-economic imbalances, broaden the gap between developed and less-developed countries and, by extension, increase differences in living standards between the peoples of Europe.

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 2 c (new)

(2c) A radical change in the Stability and Growth Pact is essential so that it can operate on the basis of the criteria of solidarity between Member States, real economic convergence and the promotion of sustainable development and full employment, while avoiding policies of financial, economic and social austerity.

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 2 d (new)

(2d) The framework of financial principles of the Union will only be credible if there is a radical change in its objectives. The new objectives must serve the principles of solidarity, democracy, real economic convergence and social prosperity for all European citizens.

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 4 a (new)

(4a) Given Article 48(2) of the Treaty on European Union, no further powers may be granted to the Commission.

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 8

(8) Repeated failure to comply with Council recommendations to address excessive macroeconomic imbalances should, as a rule, be subject to a yearly fine, until the Council establishes that the Member State has taken corrective action to comply with its recommendations.deleted

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 9

(9) Moreover, repeated failure of the Member State to draw up a corrective action plan to address the Council recommendations should be equally subject to a yearly fine as a rule, until the Council establishes that the Member State has provided a corrective action plan that sufficiently addresses its recommendations.deleted

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Recital 10

(10) To ensure equal treatment between Member States, the fine should be identical for all Member States whose currency is the euro and equal to 0.1% of the gross domestic product (GDP) of the Member State concerned in the preceding year.deleted

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Article 1

Subject matter and scope 1. This Regulation sets out a system of fines for effective correction of macroeconomic imbalances in the euro area. 2. This Regulation shall apply to Member States whose currency is the euro.deleted

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Article 3

Fines 1. A yearly fine shall be imposed by the Council, acting on a proposal by the Commission, if: (1) two successive deadlines have been set in accordance with Articles 7(2) and 10(4) of Regulation (EU) No […/…], and the Council thereafter concludes in accordance with Article 10(4) of that Regulation that the Member State concerned has still not taken the recommended corrective action, or if (2) two successive deadlines have been set in accordance with Articles 8(1) and 8(2) of Regulation (EU) No […/…], and the Council thereafter concludes in accordance with Article 8(2) of that Regulation that the Member State concerned has again submitted an insufficient corrective action plan. The decision shall be deemed adopted by the Council unless it decides, by qualified majority, to reject the proposal within ten days the Commission adopting it. The Council may amend the proposal in accordance with Article 293(1) of the Treaty. 2. The yearly fine to be proposed by the Commission shall be 0.1% of the GDP of the Member State concerned in the preceding year. 3. By derogation from paragraph 2, the Commission may, on grounds of exceptional economic circumstances or following a reasoned request by the Member State concerned addressed to the Commission within ten days of adoption of the Council conclusions referred to in paragraph 1, propose to reduce the amount of the fine or to cancel it. 4. If a Member State has paid a yearly fine for a given calendar year and the Council thereafter concludes, in accordance with Article 10(1) of Regulation (EU) No […/…] that the Member State has taken the recommended corrective action in the course of the given year, the fine paid for the given year shall be returned to the Member State pro rata temporis.deleted

2011/02/15
Committee: ECON

Nikolaos CHOUNTIS

Proposal for a regulation
Article 5

Voting within the Council For the measures referred to in Article 3, only members of the Council representing Member States whose currency is the euro shall vote and the Council shall act without taking into account the vote of the member of the Council representing the Member State concerned. A qualified majority of the members of the Council mentioned in the previous paragraph shall be defined in accordance with Article 238(3)(a) of the Treaty.deleted

2011/02/15
Committee: ECON

15 Amendments of Nikolaos CHOUNTIS related to 2010/0279(COD)

ParlTrack - 2011-2024