Activities of Miguel PORTAS related to 2010/0280(COD)
Plenary speeches (2)
Explanations of vote
Explanations of vote
Amendments (44)
Amendment 74 #
Proposal for a regulation
Recital 1
Recital 1
(1) The coordination of the economic policies of the Member States within the Union, as provid is geared byto the Treaty, should entail compliance with the guiding principles of stable prices,objectives of sustainable growth, employment and a high level of social rights. These objectives mean that economic coordination should take account of controlling inflation and ensuring sound public finances and monetary conditions, and a sustainables well as a sound balance of payments.
Amendment 82 #
Proposal for a regulation
Recital 3
Recital 3
(3) The Stability and Growth Pact is based on the objectivIn the name of sound governmentpublic finances as a means of strengthening the conditions for pricnd controlling inflation, the sStability and for strong sustainable growth underpinned by financial stability and conducive to employment creationGrowth Pact condemned the European Union to years of mediocre development, high levels of unemployment and a worsening of its internal imbalances.
Amendment 89 #
Proposal for a regulation
Recital 4
Recital 4
(4) The preventive part of thecurrent Stability and Growth Pact requires that Member States should achieve and maintain a medium- term budgetshould be replaced by a new Pact that places the creation of skilled jobs in the context of an economy that respects social rights and the environment at the centre of economic policy. The preventive paryt objective and submit stability and convergence programme to that effect. f this new Pact requires that the Union and Member States should coordinate their policies and channel public investment towards these objectives.
Amendment 94 #
Proposal for a regulation
Recital 5
Recital 5
(5) The content of the stability and convergence programmes as well as the criteria for their examination should further be adapted in the light of the expreation of a Sustainable Growth and Employment Pact entails the drawing- up of Economic and Social Converigence gained with the implementation of the Stability and Growth PactProgrammes in each Member State.
Amendment 121 #
Proposal for a regulation
Recital 5 a (new)
Recital 5 a (new)
(5a) Until such time as the European Union has a Sustainable Growth and Employment Pact, a framework for enhanced economic governance will be created that is geared to achieving these objectives, and to preventing and correcting the appearance of excessive macroeconomic, macrofinancial and social imbalances within the Union. This framework will be based on the presupposition that the Member States regard their economic policies as a matter of common concern and that they coordinate them among themselves. Given that this is a framework for shared governance, decisions will be adopted by the Council on a proposal from the Commission. Those institutions undertake to respect the principle of transparency, which means that their decisions must be reasoned and made public.
Amendment 122 #
Proposal for a regulation
Recital 5 b (new)
Recital 5 b (new)
(5b) Strengthening economic governance should go hand in hand with reinforcing the democratic legitimacy of economic governance in the Union, which should be achieved through a closer and more timely involvement of the European Parliament and the national parliaments throughout the economic policy coordination procedures.
Amendment 123 #
Proposal for a regulation
Recital 5 c (new)
Recital 5 c (new)
(5c) The European semester in which the Union's framework for economic governance is implemented should play a vital role in implementing the requirement under Article 121(1) of the Treaty on the Functioning of the European Union (TFEU) that Member States regard their economic policies as a matter of common concern and that they coordinate them accordingly. Transparency and independent oversight are an integral part of enhanced economic governance. The Council and the Commission should make public and set out the reasons for their positions and decisions at all stages of the framework for economic governance and of macroeconomic imbalance or excessive deficit procedures.
Amendment 125 #
Proposal for a regulation
Recital 5 d (new)
Recital 5 d (new)
(5d) The framework for enhanced economic governance will be created as part of the 'European semester' and should: (a) define annual guidelines for a job- creating sustainable growth strategy across the Union, by formulating Broad Economic Policy Guidelines in accordance with Article 121(2) TFEU; (b) establish concerted action to prevent and correct excessive macroeconomic imbalances under the amended Regulation (EU) No .../2011; (c) carry out the effective prevention and correction of excessive public finance imbalances under this Regulation (EC) No 1467/97; (d) organise enhanced financial market regulation and supervision, including macro-prudential supervision by the European Systemic Risk Board; (e) establish a permanent and credible financial crisis resolution mechanism that enables Member States to protect the revival of their respective economies, as well as social cohesion and convergence policies, against speculative attacks on their sovereign debts.
Amendment 126 #
Proposal for a regulation
Recital 5 e (new)
Recital 5 e (new)
(5e) In the 'European semester', documents relating to the Broad Economic Policy Guidelines and the respective assessment should be debated by the European Parliament before being adopted by the Council. Likewise, the main documents originating from the Member States and containing national economic and budgetary policy commitments should be voted on by the respective parliaments before being submitted to the Council, in order to guarantee democratic legitimacy and the subsidiarity principle in a context of enhanced economic governance. By 31 December 2011 the European Parliament, the Council and the Commission will conclude a procedural agreement on parliamentary involvement that will be revised by 2014 in line with the experience gained.
Amendment 131 #
Proposal for a regulation
Recital 6
Recital 6
(6) Adherence to the medium-term budgetary objective of budgetary positions should allow Member States to have a safety margin with respect to the 3% of GDP reference value in order to ensure rapid progress towards sustainability and to havensure sustainable public finances or clear progress in this direction. This objective should ensure room for budgetary manoeuvre, in particular to takinge into account the needs of public investment. The setting of prudent medium-term budgetary objectives should not prevent the adoption of an active budgetary policy where this may be necessary to combat a recession.
Amendment 143 #
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7a) More account should be taken of an assessment of the sustainability of public finances, in particular the debt level, the structure of debt duration and its dynamics when assessing the pace of convergence towards the medium-term budgetary objectives.
Amendment 147 #
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) National budgetary frameworks should be consistent with the objectives of multilateral supervision in the Union and should be integrated in an Economic and Social Convergence Programme previously assessed by the social partners and approved by the Member State parliament before being forwarded to the Commission.
Amendment 149 #
Proposal for a regulation
Recital 9
Recital 9
(9) Prudent fiscal policy-making implies that the growth rate of government expenditure does normally, without interest payments on public debt, should not exceed a prudent medium-term growth rate of GDP, increases in excess of that norm are matched by discretionary increases in government revenues and discretionary revenue reductions are compensated by reductions in expenditure.
Amendment 167 #
Proposal for a regulation
Recital 10
Recital 10
(10) A temporary departure from prudent fiscal policy-making shouldwill be allowed in case of severe economic downturn of a general nature, or even recession, in order to facilitate economic recovery.
Amendment 171 #
Proposal for a regulation
Recital 11
Recital 11
(11) In the event of a significant deviation from prudent fiscal-policy a warning should be addressed to the Member State concerned and in case the significant deviation persists or is particularly serious, a recommendation should be addressed to the Member State concerned to take the necessary corrective measures. . Where this deviation persists and can be explained by causes directly attributable to governance, a recommendation should be addressed to the Member State concerned to take action. The European Parliament may invite the Member State concerned to explain its decisions and policies in this respect before its competent committee.
Amendment 190 #
Proposal for a regulation
Recital 12
Recital 12
(12) In order to ensure compliance with the fiscal surveillance framework of the Union for participating Member States, a specific enforcement mechanism should be established on the basis of Article 136 of the Treaty for cases where a persistent and significant deviation from prudent fiscal policy making prevails. Nevertheless, its application should take account of the current economic situation in the Member State concerned and all other relevant factors.
Amendment 192 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) This Regulation should enter into force as soon as possible after its adoption. When applying it, the Commission should take account of the current economic situation in the Member State concerned or the Union as a whole, and all other relevant factors.
Amendment 198 #
Proposal for a regulation – amending act
Article 1 – point - 1 (new)
Article 1 – point - 1 (new)
Regulation (EC) No 1466/97
Article 1
Article 1
Amendment 209 #
Proposal for a regulation – amending act
Article 1 – 1 b (new)
Article 1 – 1 b (new)
Regulation (EC) No 1466/97
Article 2 –aa (new) (in Section 1-A)
Article 2 –aa (new) (in Section 1-A)
Article 2 -aa The multilateral surveillance by the Council shall be conducted as part of the European semester for economic and social policy coordination. The semester shall be the period during which the institutions of the Union and the Member States coordinate the economic policy guidelines that they define and carry out their multilateral surveillance. The framework for enhanced economic governance to be implemented in the European semester shall: (a) define the outlines of a job-creating sustainable growth strategy across the Union, by formulating Broad Economic Policy Guidelines in accordance with Article 121(2) TFEU; (b) establish concerted action to prevent and correct excessive macroeconomic imbalances under Regulation (EU) No .../2011; (c) carry out the effective prevention and correction of excessive public finance imbalances under Regulation (EC) No 1467/97; (d) organise enhanced financial market regulation and supervision, including macro-prudential supervision by the European Systemic Risk Board; (e) establish a permanent and credible financial crisis resolution mechanism. Without prejudice to the adoption of an active budgetary policy where necessary, the European Parliament and the national parliaments shall be duly involved in the semester in order to increase transparency, ownership and accountability in relation to the decisions taken and documents adopted. In order to ensure an adequate involvement of the European Parliament, a procedural agreement between the European Parliament, the European Council, the Council and the Commission shall be concluded by 31 December 2011. That procedural agreement shall be reviewed every three years and amended where appropriate.
Amendment 219 #
Proposal for a regulation – amending act
Article 1 – point 1 c(new) – point a (new)
Article 1 – point 1 c(new) – point a (new)
Regulation (EC) No 1466/97
Article 2a – paragraph 1
Article 2a – paragraph 1
Amendment 230 #
Proposal for a regulation – amending act
Article 1 – point 1 d (new)
Article 1 – point 1 d (new)
Regulation (EC) No 1466/97
Section 1A a (new)
Section 1A a (new)
1d. The following section is inserted: "SECTION 1Aa NATIONAL OWNERSHIP Article 2aa Participating Member States shall establish a medium-term budgetary framework, with a fiscal planning horizon of at least three years, which shall commit them to a medium-term budgetary objective. Each of the participating Member States shall submit proposals on the medium- term budgetary framework to their respective parliament. Where there has been no such parliamentary approval, this shall be specified in the Economic and Social Convergence Programme. Member States shall take into account guidance and recommendations from the Council and the Commission, in particular when preparing their budgets, and appropriately involve national parliaments in the economic policy coordination procedures. When submitting the draft budget to the national parliament, Member States shall also submit any opinions or recommendations issued by the Council or the Commission, in the event of significant deviation from prudent fiscal policy making as referred to in Article 5(1) of this Regulation."
Amendment 235 #
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint a
Article 1 – point 2 – subpoint a
Regulation (EC) No 1466/97
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Each participating Member State shall submit to the Council and Commission information necessary for the purpose of multilateral surveillance at regular intervals under Article 121 of the Treaty in the form of a stability programme, which provides an essential basis for price stability and for strongn economic and social convergence programme, which defines measures geared to the objectives of sustainable growth conducive to and employment creation.'
Amendment 249 #
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint i c (new)
Article 1 – point 2 – subpoint b – subpoint i c (new)
Regulation (EC) No 1466/97
Article 3– paragraph 2 – point b
Article 3– paragraph 2 – point b
Amendment 270 #
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint c
Article 1 – point 2 – subpoint c
Regulation (EC) No 1466/97
Article 3 – paragraph 3
Article 3 – paragraph 3
3. The information about the paths for the general government balance and debt ratio, the growth of government expenditure, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures, the growth path and the main economic assumptions referred to in paragraph 2(a) and (b) shall be on an annual basis and shall cover, the preceding year, the current year and at least the following three years.'
Amendment 273 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 1
Article 5 – paragraph 1 – subparagraph 1
Based on assessments by the Commission and the Economic and Financial Committee, the Council shall, within the framework of multilateral surveillance under Article 121 of the Treaty, examine the medium-term budgetary objectives and the expected path of the debt ratio presented by the Member States concerned, assess whether the economic assumptions on which the programme is based are plausible, whether the adjustment path towards the medium-term budgetary objective is appropriate and whether the measures being taken or proposed to respect that adjustment path are sufficient to achieve the medium-term budgetary objective over the cycle.
Amendment 282 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 2
Article 5 – paragraph 1 – subparagraph 2
The Council, when assessing the adjustment path toward the medium-term budgetary objective, shall examine if the Member State concerned pursues an appropriate annual improvement of its cyclically-adjusted budgetprimary balance, net of one-off and other temporary measures, required to meet its medium-term budgetary objective, with 0.5% of GDP as a benchmark. For Member States with a high level of debt or excessive macroeconomic imbalances or both, the Council shall examine whether the annual improvement of the cyclically-adjusted budgetprimary balance, net of one-off and other temporary measures is higher than 0.5% of GDP. The Council shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort may be more limited in economic bad times.
Amendment 309 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4 – point b
Article 5 – paragraph 1 – subparagraph 4 – point b
(b) for Member States that have not yet reached their medium-term budgetary objective, the annual expenditure growth does not exceed a rate below a prudent medium-term rate of GDP growth, unless the excess is matched by discretionary revenue measures. The size of the shortfall of the growth rgrowth of its primary balance must be lower than thate of government expenditure compared to athe prudent medium-term rate of GDP growth is set in such a way as to. This difference between rates should ensure an appropriate adjustment towards the medium-term budgetary objective, with out prejudice to the implementation of an active budgetary policy when necessary;
Amendment 314 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4 – point c
Article 5 – paragraph 1 – subparagraph 4 – point c
Amendment 327 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 6
Article 5 – paragraph 1 – subparagraph 6
Amendment 336 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 7
Article 5 – paragraph 1 – subparagraph 7
Amendment 347 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 8
Article 5 – paragraph 1 – subparagraph 8
The Council shall furthermore examine whether the contents of the stabilityeconomic and social convergence programme facilitates the achievement of sustainedobjectives of convergence within the euro area, closer coordination of economic policies and whether the economic policies of the Member States concerned are consistent witmatch the broad guidelines of the economic policies of the Member States and of the Union.
Amendment 362 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The Council shall carry out the examination of the stabilitymmission shall examine the economic and social convergence programme within at most three months of the submission of the programme. The Council, on a recommendation from the Commission and after consulting the Economic and Financial Committee, shall, if necessary, deliver an opinion on the programme. Where the Council, in accordance with Article 121 of the Treaty,After consulting the Economic and Financial Committee, the Commission shall inform the Council. Should the latter considers that the objectives and the content of the programme should be strengthened with particular reference to prudent fiscal-policy making, ithe Council shall, in its opinion, invite the Member State concerned to adjust its programmect accordingly.
Amendment 378 #
Proposal for a regulation – amending act
Article 1 – point 5
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – first subparagraph
Article 6 – paragraph 2 – first subparagraph
In the event of a significant deviation from prudent fiscal-policy making referred to in the fourth subparagraph of Article 5(1) of this Regulation, and in order to prevent the occurrence of an excessive deficit, the Commission, in accordance with Article 121(4) of the Treaty may address a warning to the Member State concerned. This warning shall be made public and the European Parliament may invite the Member State concerned to appear before the appropriate parliamentary committee to justify the policies adopted. Two months after the warning, the Council shall adopt a recommendation, establishing a deadline for correcting the deviation, on the basis of a Commissi0on proposal, in accordance with Article 121 of the TFEU. The Council shall make public the position it has adopted. The Commission shall monitor the measures provided for in the recommendation, in the context of the surveillance visits carried out in accordance with Article 6A, and shall draw up a report for the Council. The report shall be made public. If the Member State concerned does not take action within the deadline laid down in the recommendation drawn up by the Council, the Council shall adopt a fresh recommendation, pointing out the Member State’s non-compliance. The Member State concerned must then adopt an action plan, endorsed by its parliament, putting forward action with a view to securing the results to which it committed itself in the framework of the European Semester. On a proposal from the Commission, the Council shall, at the same time, submit a formal report to the European Council The process, which began with the recommendation by the Council, shall conclude with the assessment of the results in the following European Semester.
Amendment 395 #
Proposal for a regulation – amending act
Article 1 – point 5
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – subparagraph 3
Article 6 – paragraph 2 – subparagraph 3
Amendment 403 #
Proposal for a regulation – amending act
Article 1 – point 5
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 3
Article 6 – paragraph 3
3. In the event that the significant deviation from prudent fiscal-policy making persists or is particularly serious, the Council, on a recommendation from the Commission, shall address a fresh recommendation to the Member State concerned to take the necessary adjustment measures. The Council, on a proposal from the Commission, shall make the recommendation public and the European Parliament may ask the Member State concerned to appear before the appropriate Parliamentary Committee to explain the decisions and policies adopted.
Amendment 411 #
Proposal for a regulation – amending act
Article 1 – point 6 – subpoint a
Article 1 – point 6 – subpoint a
1. Each Member State with a derogation shall submit to the Council and the Commission information necessary for the purpose of multilateral surveillance of regular intervals under Article 121 of the Treaty in the form of a convergence programme, which provides an essential basis for price stability and for strongwill implement the measures aimed at achieving the objectives of sustainable growth conducive toand employment creation.'
Amendment 436 #
Proposal for a regulation – amending act
Article 1 – point 6 – subpoint c
Article 1 – point 6 – subpoint c
Regulation (EC) No 1466/97
Article 7 – paragraph 3
Article 7 – paragraph 3
3. The information about the paths for the general government balance and debt ratio, the growth of government expenditure, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures, the growth path and the main economic assumptions referred to in paragraph 2(a) and (b) shall be on an annual basis and shall cover the preceding year, the current year and at least the following three years.
Amendment 450 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 2
Article 9 – paragraph 1 – subparagraph 2
The Council, when assessing the adjustment path toward the medium-term budgetary objective, shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort may be more limited in economic bad timesexamine whether the Member State concerned is pursuing an appropriate annual improvement of its cyclically adjusted balance, net of one-off and other temporary measures, required to meet its medium-term budgetary objective. For Member States with a high level of debt or excessive macroeconomic imbalances or both, the Council shall examine whether the annual improvement of the cyclically- adjusted budgetprimary balance, net of one-off and other temporary measures is higher than 0.5% of GDP. For ERM2 Member States, the Council shall examine if the Member State concerned pursues an appropriate annual improvement ofThe Council shall take into account whether a higher adjustment effort its cyclically adjusted balance, net of one-off and other temporary measures, required to meet its medium-term budgetary objective, with 0.5% of GDP as a benchmarkmade in economic good times, whereas the effort may be more limited in economic bad times.
Amendment 462 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 4 – introductory part
Article 9 – paragraph 1 – subparagraph 4 – introductory part
Fiscal-policy making shall be considered prudent and thereby conducive to the achievement of the medium-term budgetary objective and its maintenance over time, without prejudice to the adoption of an active budgetary policy when necessary, if the following conditions are satisfied:
Amendment 470 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 4 – point a
Article 9 – paragraph 1 – subparagraph 4 – point a
(a) for Member States that have achieved the medium-term budgetary objective, annual expenditurthe rate of annual primary balance growth does not exceed a prudent medium-term rate of GDP growth, unless the excess is matched by discretionary revenue measures;
Amendment 473 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 4 – point b
Article 9 – paragraph 1 – subparagraph 4 – point b
(b) for Member States that have not yet reached their medium-term budgetary objective, the annual expenditure growth does not exceed a rate below a prudent medium- term rate of GDP growth, unless the excess is matched by discretionary revenue measures. The size of the shortfall of the growth rate of government expenditure compared to a prudent medium-term rate of GDP growth is set in such a way as to ensure an appropriate adjustment towards the medium-term budgetary objectivegrowth rate of their primary balance should be lower than the prudent medium-term rate of GDP growth. This difference between rates should ensure an appropriate adjustment towards the medium-term budgetary objective, without prejudice to the implementation of an active budgetary policy when necessary;
Amendment 487 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 6
Article 9 – paragraph 1 – subparagraph 6
Amendment 495 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 7
Article 9 – paragraph 1 – subparagraph 7
Amendment 544 #
Proposal for a regulation – amending act
Article 1 – point 9
Article 1 – point 9