Activities of Theodor Dumitru STOLOJAN

Proposal for a regulation
Article 2 – paragraph 3 a (new)

3a. The EFSI shall avoid a high exposure within a given sector or geographic area. For Member States where financial markets are less developed, appropriate technical assistance should be provided. The EIAH should encourage those Member States to set up National Investment Advisory Hub.

2015/03/25
Committee: BUDG ECON

2014/2144(INI)

Motion for a resolution
Citation 40 a (new)

- having regard to the Accounting Standards on taxation, namely IAS 12,

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Recital F a (new)

Fa. whereas the German, France and Italian Ministers of Finance sent a letter to the Commissioner Pierre Moscovici asking to draft a legislation to deal with tax avoidance and aggressive planning against the base erosion and profit shifting;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 1

1. Welcomes the agreement on the Automatic Exchange of Information and the prospects for a swift implementation thereof; calls for tax agreements to be concluded also with third countries before 31 December 20145;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 3

3. Highlights that increased tax policy coordination and harmonisation would ensure that Member States’ tax policies support wider EU policy objectives as set out in the Europe 2020 strategy for smart, sustainable and inclusive growth;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 6

6. Calls on the Commission to put forward concrete proposals to tackle the VAT gap, taking into account the recent proposals as adopted by the Council, and to evaluate proposals on a definite VAT system ~~by Spring 2015~~;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 7

7. Takes note of the joint statement of 6 May 2014 by 10 MSs on enhanced cooperation on the FTT and the progress of its implementation; calls on participating MSs to reach an agreement including derivative transactions ~~by the end of 2014~~, without due delay;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 8

8. Calls on MSs to agree to ~~a compulsory~~the CCCTB as a comprehensive and long-term solution to tackle company tax obstacles in the Single Market; Notes that its legislative resolution of 19 April 2012 on the proposal for a Council Directive on a common consolidated corporate tax base shall serve as a basis for a reasonable compromise;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 9

9. Awaits the Commission’s follow-up on its two recommendations on ‘measures intended to encourage third countries to apply minimum standards of good governance in tax matters’ and ’aggressive tax planning’ and the MSs’ follow-up on the updated Commission Action Plan against tax fraud and tax evasion and aggressive tax planning;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 12 a (new)

12a. The Commission should update the Action Plan against the tax fraud, tax evasion and aggressive tax planning based on the pledges of the G20 leaders ensuring the fairness of the international tax system and secure countries' revenue basis; the Fiscalis and Custom Programmes should also focus on the issue of aggressive tax planning;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 15

15. ~~Regrets~~Is concerned that national reforms in ~~the public sector~~some member States have resulted in inadequate staffing and resource allocation to national tax administrations and tax audit authorities;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 16

16. Calls on the Commission to propose, and on MSs to agree on, a common EU position and a set of criteria for the definition of tax havens; recalls the call for appropriate measures, including a public European blacklist of tax havens, by 31 ~~December~~March 20145;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 17

17. Calls for authorities to suspend or revoke the banking licences of financial institutions if they have been proven to assist in tax fraud;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 19

19. Calls upon the Commission to intensify its use of EU state aid rules against aggressive tax planning; the Commission should investigate all tax ruling cases if this are not breaking the EU state aid rules, through selective tax benefits for some companies;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 19 a (new)

19a. Calls open to all member states to implement the agreement on automatic exchange of information of aggressive tax planning arrangements;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 19 b (new)

19b. Calls on the Commission to draft a directive against to set a general principle of effective taxation to prevent BEPS by the end of June 2015;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 21

21. Stresses that the quantitative measurement of macroeconomic targets should be accompanied by qualitative indicators (social and environmental, for example), in order to address long-term goals; calls on the Commission, when drafting the country-specific recommendations, to carry out an in- depth study of the MSs’ differencean in-depth study of the MSs' differences, in order to address long-term goals;

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 23

23. Urges MSs, when introducing property taxes, to ensure th~~e fundamental right of accommodation, by protecting the principal house of each taxpayer;~~at all relevant side effects are taken into account.

2014/12/19
Committee: ECON

2014/2144(INI)

Motion for a resolution
Paragraph 24

24. Requests that ~~reforming tax~~budget expenditures should ~~not result in an unjustified decrease in public expenditures~~be reformed in a way which is friendly towards creation of the job growth, which in turn will generate additional tax income;

2014/12/19
Committee: ECON

2014/2144(INI)

Traian UNGUREANU, Theodor Dumitru STOLOJAN

Motion for a resolution
Paragraph 26

26. Underlines the fact that MSs’' taxation policy on environmental taxes should be aligned with the EU 2030 strategy; ~~recognis~~notes that an increase in environmental taxes has the potential to generate revenues and jobs; calls on the Commission to come forward with ~~appropriate~~ legislative proposals, if deemed appropriate;

2014/12/19
Committee: ECON

2013/2175(INI)

Draft opinion
Paragraph 2

2. Stresses the need to ensure ~~that~~an efficient and effective long- term financing ~~benefits not only~~framework, by creating the right instruments and mechanisms beneficial to investors ~~and~~, shareholders, ~~but also~~ workers, undertakings and consumers; to this aim, the European Union should increasingly focus on development banks - privately and state owned - as part of the economic recovery strategy;

2013/11/15
Committee: EMPL

2013/2175(INI)

Traian UNGUREANU, Theodor Dumitru STOLOJAN

Draft opinion
Paragraph 2 a (new)

2a. Considers that an efficient and effective framework for long-term financing needs to be achieved through a convergent approach between European and national policies; to this aim, the EIB should support development banks, with a view to unlocking liquidity for SMEs, and creating the right conditions for increasing production and consequently raising employment;

2013/11/15
Committee: EMPL

2013/2021(INI)

Syed KAMALL, Wolf KLINZ, Sharon BOWLES, Theodor Dumitru STOLOJAN, Sven GIEGOLD

Motion for a resolution
Recital C a (new)

Ca. whereas the loss of prudence in accounting standards as a consequence of the adoption of international financial reporting standards played and continues to play a central role in allowing banks to give a view of their accounts that was and is not always true and fair with particular reference to IAS 39 on loan loss provisioning;

2013/04/18
Committee: ECON

2013/2021(INI)

Syed KAMALL, Theodor Dumitru STOLOJAN, Sharon BOWLES, Wolf KLINZ, Sven GIEGOLD

Motion for a resolution
Paragraph 5 a (new)

5a. Notes that the HLEG did not look at the issue of accounting standards and their role in financial crisis in sufficient depth; notes that European company law requires that accounts must be true and fair in order for directors of a company to discharge their liabilities to creditors and shareholders of companies; suggests that as a consequence of international financial reporting standards being overly complex and being principally about providing information to the share trading part of capital markets, these standards did and do not give a true and fair view of banks' accounts; notes that despite commitments from the IASB to update IAS 39 on loan loss provisioning from an incurred to expected loss model, its adoption has been delayed due to concerns expressed by FASB that the revised IASB model is still not a lifetime expected loss model; notes that although moving to an expected loss model recognises the problems caused by IAS 39 during the crisis, the added complexity may well create problems of their own; argues that, therefore, structural reform must include a thorough assessment of what role accounts should play in driving better governance of banks;

2013/04/18
Committee: ECON

2013/2021(INI)

Syed KAMALL, Theodor Dumitru STOLOJAN, Sharon BOWLES, Wolf KLINZ, Sven GIEGOLD

Motion for a resolution
Paragraph 27 a (new)

27a. Urges the Commission to conduct a study to ensure that accounting standards used by financial institutions give a genuinely true and fair view of banks' financial health; points out that accounts are the main source of information for an investor to understand whether or not a company is a going concern or not; notes that auditors can only sign off accounts if they are true and fair, independent of the financial standards used by preparers of financial statements; believes that if auditors are unsure that a company is a going concern they should not sign off the company's accounts, even if they have been drawn up in line with accounting standards; this should however be a driver of better management of the company in question; suggests that international financial reporting standards do not necessarily give a true and fair view of accounts, as shown by numerous examples of banks collapsing despite their accounts having been signed off by auditors;

2013/04/18
Committee: ECON

2013/0442(COD)

Proposal for a directive
Article 2 – paragraph 1 a (new)

1 a. This Directive shall also apply to a combination formed by new medium combustion plants according to Article 3a, including where the total rated thermal input of such combination is equal to or more than 50 MW, unless this combination is a combustion plant covered by Chapter III of Directive 2010/75/EU.

2015/03/10
Committee: ENVI

2013/0442(COD)

Proposal for a directive
Article 2 – paragraph 2 – point a

(a) combustion plants which are covered by Chapter III, Chapter IV or Chapter IV of Directive 2010/75/EU;

2015/03/10
Committee: ENVI

2013/0442(COD)

Proposal for a directive
Article 2 – paragraph 2 – point c

(c) combustion plants in which the gaseous products of combustion are used for the direct heating, drying or any other treatment of objects or materials, or direct gas fired heating;

2015/03/10
Committee: ENVI

2013/0442(COD)

Proposal for a directive
Article 2 – paragraph 2 – point f c (new)

(f c) vehicle engine test benches;

2015/03/10
Committee: ENVI

2013/0442(COD)

Proposal for a directive
Article 3 – paragraph 1 – point 6

(6) ’existing combustion plant’ means a combustion plant put into operation before [12 years after the date of transposition] or for which a permit was granted before [2 years after the date of transposition] pursuant to national legislation provided that the plant is put into operation no later than [3 years after date of transposition];

2015/03/10
Committee: ENVI

2013/0442(COD)

Proposal for a directive
Article 3 a (new)

Article 3 a Aggregation rules 1. The combination formed by two or more new medium combustion plants may be considered as a single medium combustion plant for the purpose of this Directive and their rated thermal input added for the purpose of calculating the total rated thermal input of the plant, where: - the waste gases of such medium combustion plants are discharged through a common stack; or - taking into account technical and economic factors, the waste gases of such medium combustion plants could be discharged through a common stack. 2. For the purpose of calculating the total rated thermal input of a combination of two or more combustion plants, individual combustion plants with a rated thermal input below 1 MW shall not be considered.

2015/03/10
Committee: ENVI

2013/0253(COD)

Proposal for a regulation
Article 6 – paragraph 1

1. No action, proposal or policy of the Board, the Commission or a national resolution authority shall discriminate against ~~entities referred to in Article 2~~credit institutions, deposit holders, investors or other creditors established in the Union on grounds of their nationality or place of business.

2013/10/22
Committee: ECON

2013/0253(COD)

Ildikó GÁLL-PELCZ, Theodor Dumitru STOLOJAN, Danuta Maria HÜBNER

Proposal for a regulation
Article 6 – paragraph 2 – point c

(c) the need to avoid a negative impact for other parts of a group of which a~~n entity referred to in Article 2~~ credit institution, which is subject to a resolution, is a member;

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 6 – paragraph 2 – point e (a) (new)

(ea) the interest of the internal market as a whole

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 6 – paragraph 4

4. No decision of the Board or the Commission shall require Member States to provide ~~extraordinary~~ public financial support, unless a Member State has, according to its national budgetary procedures, approved the provision of the support. Member shall have a procedure in place which leads to a decision on the approval within [2 days] after the Board or the Commission has requested the approval.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 7 – paragraph 6 – subparagraph 1 a (new)

Notwithstanding this provision, the national resolution authorities of non- participating Member States may draw up and maintain resolution plans for subsidiaries that are part of a group established in a participating Member State in accordance with Articles 11 and 12 of Directive [ ].

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 8 – paragraph 1

1. When drafting resolution plans in accordance with Article 7, the Board, after consultation with the competent authorityies, including the ECB, and the resolution authorities of non-participating Member States in which subsidiaries and significant branches are located insofar as is relevant to the significant branch, shall conduct an assessment of the extent to which institutions and groups are resolvable without the assumption of extraordinary public financial support besides the use of the Fund established in accordance with Article 64.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 49 – paragraph 3 a (new)

3a. Where relevant, the Board may also call additional observers to participate in the meetings of its executive session, in particular national resolution authorities of non-participating Member States when deliberating on a group that has subsidiaries or significant branches in those non-participating Member States.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 50 – paragraph 3

3. When necessary, because of urgency, the Board, in its executive session may take certain provisional decisions on behalf of the Board in its plenary session, in particular on administrative management matters, including budgetary matters.deleted

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 50 – paragraph 4

4. The Board, in its executive session, shall meet on the initiative of the Executive Director or at the request of any of its members.

2013/10/22
Committee: ECON

2013/0253(COD)

Proposal for a regulation
Article 51 – paragraph 4 – subparagraph 2

Meetings of the Board in its executive session shall be convened by the Executive Director on his own initiative or upon request of ~~two~~any of its members, and shall be chaired by the Executive Director. The Board may invite observers to attend its executive sessions on an ad hoc basis.

2013/10/22
Committee: ECON

2013/0152(COD)

Proposal for a decision
Recital 11

(11) Improving access to financing for SMEs, including SMEs from the Union investing in the regions covered by this Decision, can play an essential role in stimulating economic development and in combating unemployment. In order to effectively reach out to SMEs, the EIB should cooperate with local financial intermediary institutions in the eligible countries, in particular to ensure that part of the financial benefits is passed on to their clients and provide added value compared to other sources of finance.It should be ensured that the EIB also cooperates with local financial intermediaries whose aims accord with those referred to in Recital 18 of this decision and Article 21 of the Treaty on European Union. The EIB should require intermediaries to report on the project financed and the SMEs supported.

2013/09/24
Committee: ECON

2013/0152(COD)

Proposal for a decision
Recital 15

(15) Within the areas covered by the general objectives, regional integration among countries, in particular economic integration between Pre-accession countries, Neighbourhood countries and the Union, should be an underlying objective for EIB financing operations. Within the aforementioned areas, the EIB should be able to support partner countries through foreign direct investments by companies from the Union that contribute to promoting technology and knowledge transfer, providing that due consideration has been made during the investment projects' due diligence to minimise the risks that EIB financing operations lead to negative repercussions on employment in the Union. The EIB should also be encouraged to support foreign direct investment in partner countries by companies from the Union at its own risk.Care should also be taken to ensure that the foreign direct investment by businesses based in the Union which is supported by the EIB genuinely contributes to economic integration between pre-accession countries, neighbourhood countries and the Union. The EIB should therefore indicate in what form it is specifically supporting businesses and how the businesses are using this support.

2013/09/24
Committee: ECON

2013/0152(COD)

Proposal for a decision
Recital 22

(22) In its financing operations outside the Union that fall within the scope of this Decision, the EIB should endeavour further to enhance coordination and cooperation with European Financial Institutions and International Financial Institutions, notably those participating in the EU Platform for Blending in External Cooperation. This cooperation includes, where appropriate, cooperation on sector conditionality and mutual reliance on procedures, use of joint co-financing and participation in global initiatives, such as those promoting aid coordination and effectiveness. Such coordination and cooperation should strive to minimise possible duplication of costs and unnecessary overlap. Particularly with reference to the European Bank for Reconstruction and Development (EBRD), greater efforts should be made by both Banks to find additional scope for synergies. The tripartite Memorandum of Understanding between the Commission, the EIB Group and the ~~European Bank for Reconstruction and Development (~~EBRD) in respect of cooperation outside the Union, which allows the EIB Group and the EBRD to act in a complementary way by relying on their respective comparative advantages, was updated in 2012 to cover the extension of EBRD's geographical scope to the Mediterranean region and should continue to be applied. The principles set out in this Decision should also be applied when EIB financing is implemented through cooperation agreements with other European Financial Institutions and International Financial Institutions.

2013/09/24
Committee: ECON

2013/0152(COD)

Proposal for a decision
Recital 25

(25) The EIB financing operations in support of Union external policies should continue to be conducted in accordance with the principles of sound ~~banking practice~~and sustainable banking practices, with a long-term future, which are geared to the real economy. They should continue to be managed in accordance with the EIB's own rules and procedures, including appropriate control measures and compliance with the EIB's statement on social and environmental standards, as well as with the relevant rules and procedures concerning the Court of Auditors and the European Anti-Fraud Office (OLAF). In its financing operations the EIB should adequately implement its policies towards weakly regulated or non-cooperative jurisdictions in order to contribute to the international fight against tax fraud, tax evasion and money-laundering. Particularly in the case of financing via local financial intermediaries, it should therefore be ensured that the financing made available by the intermediaries avoids the risk of fraud and corruption in so far as possible. In the interests of transparency and in order to avoid fraud and corruption, the EIB should draw up, in cooperation with the local financial intermediaries, a list of the final borrowers.

2013/09/24
Committee: ECON

2013/0152(COD)

Proposal for a decision
Article 3 – paragraph 5

5. EIB financing operations supporting the objectives provided for in paragraph 1(a) may include support to investment projects by SMEs from the Union. However, it should be ensured that EIB financing is genuinely used in the specific investment projects for the benefit of the SMEs concerned and not channelled to other areas as concealed support for undertakings. In order to ensure that funding is used as intended, the EIB shall draw up practical reporting standards to be complied with by borrowers.

2013/09/24
Committee: ECON

2013/0152(COD)

Proposal for a decision
Article 11 – paragraph 1 – point a

(a) all EIB financing operations carried out under this Decision, in particular indicating whether an investment project is covered by the EU guarantee; – a description or summary of the project, – a description or summary of ex-post evaluation reports.

2013/09/24
Committee: ECON

2013/0152(COD)