7 Amendments of Olle SCHMIDT related to 2011/0386(COD)
Amendment 104 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) The introduction of a European redemption fund is fundamental to ensuring that budgetary discipline is rewarded with affordable interest rates for Member States' debt and to finding a sustainable long-term solution for the European sovereign debt crisis.
Amendment 120 #
Proposal for a regulation
Article 1 – paragraph 1 – point c a (new)
Article 1 – paragraph 1 – point c a (new)
(ca) complementing the procedure for correction of a Member State's excessive debt as established by Article 126 TFEU and Regulation (EC) No 1467/97 by establishing a European redemption fund in order to secure a durable correction of excessive debt.
Amendment 126 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5
Article 2 – paragraph 1 – point 5
(5) ‘government’ and, ‘deficit’ and 'debt' have the meaning's set out in Article 2 of the Protocol (No 12) on the excessive deficit procedure annexed to the Treaty on European UnionFEU and to the Treaty on the Functioning of the European Union.
Amendment 190 #
Proposal for a regulation
Article 5 – paragraph 3 – point f a (new)
Article 5 – paragraph 3 – point f a (new)
(fa) detailed information on general government debt developments, as well as other data relevant to an assessment of the country-specific risks to the sustainability of public finances, in particular an overview of implicit liabilities, and of the contingent liabilities with potentially large impacts on public budgets within the meaning of Article 14(3) of Council Directive 2011/85/EU.
Amendment 196 #
Proposal for a regulation
Article 5 – paragraph 3 – subparagraph 1 a (new)
Article 5 – paragraph 3 – subparagraph 1 a (new)
Member States shall report their public debt issuance plans to the Commission and to the Council with a view to better coordinating and monitoring them ex- ante.
Amendment 200 #
Proposal for a regulation
Article 5 – paragraph 5 – subparagraph 1
Article 5 – paragraph 5 – subparagraph 1
5. Where the Commission identifies particularly serioussignificant non-compliance with the budgetary policy obligations laid down in the Stability and Growth Pact, it shall, within two weeks from the submission of the draft budgetary plan, request a revised draft budgetary plan from the Member State concerned. This request shall be made public. Moreover, the Commission shall request a revised draft budgetary plan from Member States in the case of significant non-compliance of a draft budget with the deficit and/or debt path specified in the stability program of the Member State concerned, or when the Commission identifies serious risks to fiscal sustainability.
Amendment 242 #
Proposal for a regulation
Article 7 – paragraph 1 a (new)
Article 7 – paragraph 1 a (new)
1a. Member States subject to an excessive deficit procedure shall put in place a budgetary and economic partnership programme including a detailed description of the structural reforms necessary to ensure an effectively durable correction of their excessive deficits.