2 Amendments of Elisa FERREIRA related to 2010/0276(CNS)
Amendment 180 #
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 a rate of the order of one- twentieth per yearn average (DF) rate in accordance with the MTO. A reduction of the differential with respect to the reference value of less the agreed path, over a three year period may, nevertheless, be considered to be satisfactory if this lesser reduction is due to new government debt for public investment. The definition of what shall constitute public investment conductive to achieving the Union's growth and employment objectives within the scope of this regulation shall be laid down by the Commission through a delegated act, respecting the principles laid down in Council Directive (...) on requirements for budgetary frameworks of the Member States. In order to take due account of the economic cycle, in the case of an annual GDP volume growth rate below 1%, the Commission will define a proportionate benchmark below the agreed level on the MTO for determining the average rate of reduction referred to above. 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 297 #
Proposal for a regulation – amending act
Article 1 – point 12
Article 1 – point 12
Regulation (EC) No 1467/97
Article 12 – paragraph 3
Article 12 – paragraph 3
3. Any singlThe total yearly amount of fines imposed on a Member State fine referred to in paragraphs 1 and 2 shall not exceed the upper limit of 0,5 % of GDP. the context of an Excessive Deficit Procedure added to those due in the context of an Excessive Imbalances Procedure, shall not exceed 0,3% of its GDP except in cases of fines imposed for reasons stated in paragraph 4a of Regulation (EU) No […/…]