6 Amendments of Daniel DĂIANU related to 2008/2244(INI)
Amendment 28 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Points out that rising deficits are difficult to avoid in times of economic downturn and suggests that Member States have more flexibility during such times as regards the Stability and Growth Pact (SGP) criteria in order to encourage economic recovery and growth; draws attention to the budgetary implications of the current financial crisis, and calls on the Commission to evaluate the effects on Member States' public finances of the public funds used in the rescue plans for national financial institutions; calls on the Commission to examine the effects of the SGP criteria in the current context, when economic growth is slow and several Member States face the prospect of recession, and calls for an evaluation of the effects of the rising cost of credit on the public debt of Member States;
Amendment 30 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Notes that the revised Stability and Growth Pact is functioning properly; considers that the corrective arm has been applied in a satisfactory manner in previous years and sStresses the importance of the preventive arm as a vital instrument in respect of the sustainability and convergence of the financial policies of Member States, in particular those in the euro area; acknowledges, however, that the enforcement mechanism remains the fatal weakness of the SGP;
Amendment 38 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Points out that Member States need additional structural reforms and more budgetary discipline, as well as anti- cyclical fiscal policies, reducing budgetary deficits in times of economic growth, in order to be better prepared for dealing with negative external shocks;
Amendment 39 #
Motion for a resolution
Paragraph 4 b (new)
Paragraph 4 b (new)
4b. Acknowledges the additional difficulties presented by the SGP criteria concerning fiscal deficit as regards those Member States with greater needs for financing public works projects in order to speed up real convergence;
Amendment 40 #
Motion for a resolution
Paragraph 4 c (new)
Paragraph 4 c (new)
4c. Stresses the importance of designing macroeconomic plans for tackling external shocks (such as the subprime financial crisis) that take into account not only the situation in the euro area, but also that in the catching-up economies of the European Union; highlights the risks of focusing on the euro area alone;
Amendment 41 #
Motion for a resolution
Paragraph 4 d (new)
Paragraph 4 d (new)
4d. Calls for close examination of the proposal to set up a pan-European Union fund for financial crisis situations, possibly starting with the next multi- annual financial framework;