15 Amendments of Louis MICHEL related to 2016/0276(COD)
Amendment 72 #
Proposal for a regulation
Recital 2
Recital 2
(2) That positive momentum should be maintained and efforts need to be continued to bring investment back to its long-term sustainable trend. The mechanisms of the Investment Plan work and should be reinforced to continue the mobilisation of private investments in sectors important to Europe's future and where market failures or sub-optimal investment situations remain. To foster growth three dimensions complementing each others and necessary to each others need to be worked on in parallel: a framework to finance investment and innovation (including CMU), structural reforms and a common policy mix.
Amendment 136 #
Proposal for a regulation
Recital 9
Recital 9
(9) Additionality, a key feature of the EFSI, should be strengthened in the selection of projects. In particular, operations should only be eligible for EFSI support if they address clearly identified market failures or sub-optimal investment situations. The purpose of additionality should be limited to ensuring that selected projects are those that could not have otherwise obtained financing on the market due to a higher risk profile. Operations in infrastructure under the Infrastructure and Innovation Window linking two or more Member States, including e-infrastructure, should be considered additional given their inherent difficulty and their high added value for the Union.
Amendment 175 #
Proposal for a regulation
Recital 11 a (new)
Recital 11 a (new)
(11 a) It is appropriate to encourage partnerships with National Promotional Banks or Institutions including for setting up Investment Platforms and, where, on a case by case basis, the National Promotional Banks or Institutions could select projects thereafter.
Amendment 257 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a a (new)
Article 1 – paragraph 1 – point 1 – point a a (new)
Regulation (EU) No 2015/1017
Article 4 – paragraph 2 – point a – point iv
Article 4 – paragraph 2 – point a – point iv
(a a) in point (a), point (iv) is replaced by the following: ‘(iv) the pricing of EFSI backed operations under the EU guarantee, which is to be in line with the EIB's general pricing policy, taking into account that EFSI's aim is to address market failures and gaps, to stimulate adequate additional geographic and regional balance of EFSI backed operations, and therefore an integrated and streamlined approach to the aim of growth, jobs and investments is necessary;’;
Amendment 259 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a a (new)
Article 1 – paragraph 1 – point 1 – point a a (new)
Regulation (EU) No 2017/1017
Article 4 – paragraph 2 – point b – point iii
Article 4 – paragraph 2 – point b – point iii
(a a) in point (b), point (iii) is replaced by the following: ‘(iii) a provision that the Steering Board is to take decisions by consensus; in the event that a consensus cannot be reached, the Steering Board shall decide by a three-fourths majority of its component members;’;
Amendment 267 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 a (new)
Article 1 – paragraph 1 – point 1 a (new)
Regulation (EU) No 2015/117
Article 5 – paragraph 1 – subparagraph 2
Article 5 – paragraph 1 – subparagraph 2
Amendment 274 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 2015/1017
Article 5 – paragraph 1 – subparagraph 3
Article 5 – paragraph 1 – subparagraph 3
To better address market failures or sub- optimal investment situations, whereby ensuring complementarity and thus avoiding crowding out vis-a-vis participants in the same market, EIB special activities supported by the EFSI shall typically have features such as subordination, participation in risk-sharing instruments, cross-border characteristics, exposure to specific risks or other identifiable aspects as further described in Annex II in order to ensure additionality.
Amendment 303 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3 a (new)
Article 1 – paragraph 1 – point 3 a (new)
Regulation (EU) No 2015/1017
Article 6 – paragraph 2 a (new)
Article 6 – paragraph 2 a (new)
(3 a) In Article 6, a new paragraph 2a is inserted: ‘2a. When a national court of audit or an independent council or any anti- corruption body of a Member State has expressed some concerns on a project, a type of investment or on a body having the responsibility of investing public money and these concerns are communicated to the EFSI. The Steering Board should take into account the opinions expressed and shall take a decision by consensus.’
Amendment 306 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point -a (new)
Article 1 – paragraph 1 – point 4 – point -a (new)
Regulation (EU) No 2015/1017
Article 7 – paragraph 3 – subparagraph 1
Article 7 – paragraph 3 – subparagraph 1
(-a) in paragraph 3, the first subparagraph is replaced by the following: ‘The Steering Board shall comprise four members: three appointed by the Commission and one by the EIB. Before the official nomination, the European Parliament shall be kept informed of the candidates, respecting strict confidentiality requirements. The Steering Board shall elect a Chairperson from among its members for a fixed term of three years, renewable once. The Steering Board shall strive to take its decisions by consensus. In the event that a consensus cannot be reached, the Steering Board shall decide by a three-fourths majority of its component members.’;
Amendment 315 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point -a a (new)
Article 1 – paragraph 1 – point 4 – point -a a (new)
Regulation (EU) No 2015/1017
Article 7 – paragraph 5 – subparagraph 2
Article 7 – paragraph 5 – subparagraph 2
(-aa) in paragraph 5, the second subparagraph is replaced by the following: ‘The Managing Ddirector shall be assisted by a deputy managing director. The Managing Director shall report every quarter on the activities of the EFSI to the Steering Board.Both can, on their request, participate in the meetings of the Steering Board as non- voting members.’;
Amendment 317 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point -a b (new)Regulation (EU) No 2015/1017
Article 1 – paragraph 1 – point 4 – point -a b (new)Regulation (EU) No 2015/1017
Article 7 – paragraph 5 a (new)
(-ab) In article 7, a new paragraph 5a is inserted: ‘5a. The overall composition of the Steering Board, Managing Director and Deputy Managing Director shall strive for ensuring gender balance.’;
Amendment 357 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a a (new)
Article 1 – paragraph 1 – point 5 – point a a (new)
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – points h a (new) and h b (new)
Article 9 – paragraph 2 – points h a (new) and h b (new)
(a a) in paragraph 2 the following points (ha) and (hb) are added: ‘(ha) defence : a) development of joint capacities;’ b) research; (hb) cybersecurity.’
Amendment 371 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point b
Article 1 – paragraph 1 – point 5 – point b
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – subparagraph 1 a
Article 9 – paragraph 2 – subparagraph 1 a
The EIB shall target that at least 40 % of EFSI financing under the infrastructure and innovation window supports projects with components that contribute to climate action, in line with the COP21 commitments. The Steering Board shall provide detailed guidance to thatis end.
Amendment 424 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point b – point ii
Article 1 – paragraph 1 – point 9 – point b – point ii
Regulation (EU) No 2015/1017
Article 14 – paragraph 2 – point e
Article 14 – paragraph 2 – point e
(e) providing pro-active support on the establishment of investment platforms, with a view also to supporting smaller scale projects;
Amendment 468 #
Proposal for a regulation
Article 1 – paragraph 1 – point 11 a (new)
Article 1 – paragraph 1 – point 11 a (new)
Regulation (EU) No 2015/1017
Article 21 – paragraph 2 – subparagraph 1
Article 21 – paragraph 2 – subparagraph 1
(11 a) In Article 21, the first subparagraph of paragraph 2 is replaced by the following: ‘2. OLAF may carry out investigations, including on-the-spot checks and inspections, in accordance with the provisions and procedures laid down in Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council ( 1 1), Council Regulation (Euratom, EC) No 2185/96 ( 2 2) and Council Regulation (EC, Euratom) No 2988/95 ( 3 3) in order to protect the financial interests of the Union, with a view to establishing whether there has been fraud, corruption, money laundering or any other illegal activity affecting the financial interests of the Union in connection with any financing and investment operations covered by this Regulation. OLAF may transmit any information obtained in the course of its investigations to the competent authorities of the Member States concerned. The competent authorities shall follow up on the information transmitted, unless not compatible with the national legal framework.’