2 Amendments of David CASA related to 2010/0276(CNS)
Amendment 29 #
Proposal for a regulation – amending act
Article 1 – point 2 – point b
Article 1 – point 2 – point b
Regulation (EC) No 1467/97
Article 2 – paragraph 1a
Article 2 – paragraph 1a
1a. When it exceeds the reference value, the ratio of the government debt to gross domestic product (GDP) is to be considered sufficiently diminishing and approaching the reference value at a satisfactory pace in accordance with Article 126 (2) (b) of the Treaty if the differential with respect to the reference value has reduced over the previous three years at an average rate of the order of one-twentieth per year, as a benchmark, following an assessment made over a three-year period. For a period of 3 years from [date of entering into force of this Regulation - to be inserted], account shall be taken of the backward-looking nature of this indicator in its application.
Amendment 188 #
Proposal for a regulation – amending act
Article 1 – point 2 – point c
Article 1 – point 2 – point c
Regulation (EC) No 1467/97
Article 2 – paragraph 3
Article 2 – paragraph 3
3. The Commission, when preparing a report under Article 126(3) of the Treaty shall take into account all relevant factors as indicated in that Article to the extent they affect significantly the assessment of compliance with the deficit and debt criteria by the concerned Member State. The report shall appropriately reflect: – The developments in the medium-term economic position (in particular potential growth, prevailing cyclical condimedium- term rate of potential growth and cyclical developments, inflations, inflation,the implementation of policies in the context of common growth strategy of the Union and the prevention and correction of excessive macroeconomic imbalances) and; – The developments in the medium-term budgetary position (in particular, fiscal consolidation efforts in “good times”,, quality public investment in particular regarding R&D, the implementation of policies in the context of the common growth strategy for the Union and the overall quality of public finances, in particular, compliance with Council Directive […] on requirements for budgetary frameworks of the Member States).the effectiveness of national budgetary frameworks); – The developments of the current public expenditure should also be taken into account in particular that it remains stable in real terms; – The report shall also analyse developments in the medium-term government debt position as relevant (in particular, it appropriately reflects, its dynamics and sustainability (in particular, risk factors including the maturity structure and currency denomination of the debt, stock- flow operaadjustment and its compositions, accumulated reserves and other governmentfinancial assets; guarantees, notably linked to the financial sector; implicit liabilities both explicit and implicit related to ageing and private debt to the extent that it may represent a contingent implicit liability for the government).; Furthermore, the Commission shall give due consideration to any other factors which, in the opinion of the Member State concerned, are relevant in order to comprehensively assess in qualitative terms the excess over the reference valuecompliance with deficit and debt criteria and which the Member State has put forward to the Commission and to the Council. In that context, special consideration shall be given to financial contributions to fostering international solidarity and to achieving Union policy goals, including financial stability. in particular debt incurred in the form of bilateral and multilateral support between Member States in the context of financial and sovereign debt crisis. When preparing a report, the Commission may request additional information from the Member State concerned.