Activities of Elisa FERREIRA related to 2011/0386(COD)
Plenary speeches (1)
Monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area (A7-0173/2012 - Elisa Ferreira) (vote)
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 (19)
Amendment 53 #
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2a) The European semester includes (a) the formulation, and the surveillance of the implementation, of the broad economic policies of the Member States and of the Union (broad economic policy guidelines) in accordance with Article 121(2) TFEU; (b) the formulation, and the examination of the implementation, of the employment guidelines that must be taken into account by Member States in accordance with Article 148(2) TFEU (employment guidelines); (c) the submission and assessment of Member States' stability or convergence programmes under Regulation (EC) 1466/97 as amended by Regulation (EC) 1175/2011; (d) the submission and assessment of Member States' national reform programmes supporting the Union's strategy for growth and jobs and established in line with the guidelines set out in point (a) and (b) and with the general guidance to Member States issued by the Commission and the European Council at the beginning of the annual cycle of surveillance; (e) surveillance to prevent and correct macroeconomic imbalances under Regulation (EU) No 1176/2011 of the European Parliament and of the Council of 16 November 2011 on the prevention and correction of macroeconomic imbalances.
Amendment 66 #
Proposal for a regulation
Recital 5
Recital 5
(5) Strong public finances and coordinated economic policies 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 and macroeconomic policies.
Amendment 84 #
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 credible and independent bodies can provide unbiased and realistic macroeconomic forecasts, once their comparability and coherence has been granted. The Commission will make public minimum requirements for those independent bodies in order to ensure their credibility and independence.
Amendment 87 #
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) The Commission should set indicative lower and upper thresholds that are symmetric by drafting the alert mechanism report, in particular with respect to current account balances.
Amendment 105 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) In applying this Regulation, the Council and the Commission should fully respect the role of the social partners, as well as differences in the national systems, such as the systems for wage formation.
Amendment 124 #
Proposal for a regulation
Article 1 – paragraph 2 a (new)
Article 1 – paragraph 2 a (new)
2a. The application of this Regulation shall fully observe Article 152 TFEU and shall fully respect national practices and institutions for wage formation. This Regulation takes into account Article 28 of the Charter of Fundamental Rights of the European Union, and, accordingly, does not affect the right to negotiate, conclude or enforce collective agreements or to take collective action in accordance with national law and practices.
Amendment 134 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Member States shall make public annually their, in the context of the European Semester referred to in Article 2-a of Regulation (EC) No 1466/97, make public, preferably by mid April and no later than 30 April each year, their national medium-term fiscal plans in accordance with their medium- term budgetary framework, based on credible and independent macroeconomic forecast forecasts. Such plans shall be presented together with their Stability Programmes, no later than 15 April the NRPs and SCPs and shall be fully compatible with the policy orientations based on the annual growth survey and the annual reports under the macroeconomic imbalances procedure as established in Regulation (EU) No 1174/2011 and Regulation (EU) No 1176/2011.
Amendment 177 #
Proposal for a regulation
Article 5 – paragraph 3 – point c
Article 5 – paragraph 3 – point c
(c) the targeted expenditure and revenue as a percentage of GDP for the general government and their main components, taking into account the conditions and criteria to establish the growth path of government expenditure net of discretionary revenue measures under Article 5(1) of Regulation (EC) No 1466/97; A deviation from the adjustment path towards the medium-term budgetary objective shall be considered significant if the following conditions occur: an excess over the expenditure growth net of public investment consistent with the medium term budgetary objective, not offset by discretionary revenue-increasing measures; or discretionary revenue- decreasing measures not offset by reductions in expenditure;
Amendment 183 #
Proposal for a regulation
Article 5 – paragraph 3 – point d a (new)
Article 5 – paragraph 3 – point d a (new)
(da) a detailed description of projected expenditure directly related to the achievement of the objectives embedded in the Union's strategy for growth and jobs including public investments;
Amendment 194 #
Proposal for a regulation
Article 5 – paragraph 3 – point f a (new)
Article 5 – paragraph 3 – point f a (new)
(fa) a quantification of the public investment needs and, as appropriate, of the budgetary impact of the measures foreseen in the National Reform Programmes for the forthcoming year;
Amendment 215 #
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 byno later than 30 November.
Amendment 233 #
Proposal for a regulation
Article 6 a (new)
Article 6 a (new)
Article 6a Coordination of sovereign debt issuance 1. With a view to better coordinating the planning and placement of their national debt issuance, the Member States shall report ex ante on their public debt issuance plans to the European Commission and to the Council. 2. Several or all Member States may seek to improve the financing conditions of their national debt by agreeing, following a proposal by the Commission, an annual coordinated national debts issuance schedule. 3. Member States co-operating under paragraph 2 may further improve and stabilise their financing conditions by offering a coordinated interest rate on their national debt, on the basis of the country's economic fundamentals and the market conditions and following a methodology established by a regulation of the European Parliament and the Council. That regulation will also define the conditions for the buying by the ESM of any residual unsold amount from coordinated national debts issuances.
Amendment 255 #
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 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 6479/2010 (amended 679/2010);
Amendment 257 #
Proposal for a regulation
Article 7 a (new)
Article 7 a (new)
Article 7a Economic partnership programmes 1. Where the Council decides in accordance with Article 126(6) TFEU that an excessive deficit exists in a Member State, the Member State concerned shall present to the Commission and to the Council an economic partnership programme describing the policy measures and structural reforms that are needed to ensure an effectively durable correction of the excessive deficit, as a detailed development of the Stability Programmes and the national reform programmes and fully taking into account the Council recommendations on the implementation of the integrated guidelines for the economic and employment policies of the Member State concerned. 2. The economic partnership programme shall be fully compatible with the policies referred to in Article 1. 3. In the event of a severe economic downturn that leads the Council to extend the deadline for the correction of the excessive deficit in accordance with Article 5 of Regulation (EC) No 1467/97, the economic partnership programme shall reflect that decision. 4. The economic partnership programme shall be presented at the same time as the reports provided for in Article 3(4a) and Article 5(1a) of Regulation (EC) No 1467/97. 5. The Council, acting by qualified majority on a proposal from the Commission, shall adopt an opinion on the economic partnership programme. 6. If a corrective action plan exists in accordance with Article 8(1) of Regulation (EU) No 1176/2011, the measures referred to in paragraph 1 shall be included in the plan. 7. The implementation of the programme, and the annual budgetary plans consistent with it, shall be monitored by the Commission and by the Council.
Amendment 267 #
Proposal for a regulation
Article 9 – paragraph 1 – subparagraph 1 a (new)
Article 9 – paragraph 1 – subparagraph 1 a (new)
A Member State facing a situation of economic downturn such as the contraction of its GDP and/or a significant increase of its unemployment rate shall benefit from a suspension of its excessive deficit procedure.
Amendment 271 #
Proposal for a regulation
Article 10 – paragraph 1 a (new)
Article 10 – paragraph 1 a (new)
Member States in the euro area shall submit annually to the Commission and to the Eurogroup a draft sovereign debt issuance schedule; coordination of issuance timelines and conditions shall optimise the financing conditions of sovereign debt issuance.
Amendment 272 #
Proposal for a regulation
Article 10 – paragraph 1 b (new)
Article 10 – paragraph 1 b (new)
Amendment 280 #
Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 2 – point b a (new)
Article 11 – paragraph 1 – subparagraph 2 – point b a (new)
(ba) the contribution of this Regulation to the achievement of the Union's strategy for growth and jobs.
Amendment 286 #
Proposal for a regulation
Article 12 – paragraph 1
Article 12 – paragraph 1
1. This Regulation shall apply to the Member States that are already subject to an excessive deficit procedure at the time of the entry into force of this Regulation., in accordance with Article 10(1b)