Activities of Edward SCICLUNA related to 2010/0821(NLE)
Plenary speeches (1)
Amendment of the Treaty on the Functioning of the European Union with regard to a stability mechanism for Member States whose currency is the euro (debate)
Amendments (25)
Amendment 6 #
Motion for a resolution
Recital E
Recital E
E. whereas the possibility of future participation by the Union institutions in the mechanism should be fully ensured and permanently safeguarded and a link should be established for the possible intervention of the European budget in the guarantee system;
Amendment 8 #
Motion for a resolution
Recital F
Recital F
F. whereas all possibilities should be explored with a view to bringing the mechanism fully into the institutional framework of the Union in future and providing for the involvement in it of those Member States whose currency is not the euro; whereas this may include recourse to Article 20 TEU on enhanced cooperation, where this is appropriate in order to ensure the consistency of the Union’s economic policy;
Amendment 12 #
Motion for a resolution
Recital G
Recital G
G. whereas the rules governing the stability mechanism should preferably be worked out by the Commission;
Amendment 13 #
Draft decision
Recital 4 a (new)
Recital 4 a (new)
(4a) The Commission should draw up as a proposal for adoption under the ordinary legislative procedure a detailed set of rules laying down the way in which the stability mechanism will be governed and operated, and should specify which instruments are to be used within its remit.
Amendment 20 #
Motion for a resolution
Recital K
Recital K
K. whereas the above-mentioned principles are implemented by the amendments to the draft European Council decision as proposed in the opinion delivered by the Committee on Economic Affairs draw inspiration from the above-mentioned principles;
Amendment 23 #
Draft decision
Article 1
Article 1
The following paragraphoint shall be added to Article 136(1) of the Treaty on the Functioning of the European Union: "3. The Member States whose currency is the euro may(c) to establish a permanent stability mechanism to be activated if indispensable to safeguard the stability of the euro area as a wholecomposed of Member States whose currency is the euro. The granting of any required financial assistance under the mechanism will be made subject to strict conditionality consistent with the principles and objectives of the Union, as laid down in the Treaty on European Union and in this Treaty. The permanent stability mechanism should be designed in such a way as to foster budgetary discipline and to contribute to long-term sustainable finances.".
Amendment 26 #
Motion for a resolution
Recital M
Recital M
Amendment 31 #
Motion for a resolution
Recital O
Recital O
O. whereas any increase or decrease inof the Union competences would require an ordinary revision procedure;
Amendment 32 #
Motion for a resolution
Recital P
Recital P
Amendment 38 #
Motion for a resolution
Recital R (new)
Recital R (new)
R. whereas, pending the completion of the revision procedure, the stability of the euro might be affected by a long period of uncertainty as to the actual establishment of a European stability mechanism and by possible adverse reactions in any of the Member States;
Amendment 46 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that the European stability mechanism constitutes an integral part of a global package of measures which are designed to define a new framework, reinforcing budgetary discipline and coordination of economic and financial policies of the Member States and promoting a joint European response to debt and growth challenges, concomitantly overcoming economic and social imbalances and improving competitivity;
Amendment 49 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Considers that it is essential to go beyond the temporary measures aiming at stabilising the euro area, and that the Union should build up its economic governance, including by means of policies and instruments designed to promote sustainable growth in Member States; takes the view that the reinforcement of the SGP, the European semester, the EU 2020 strategy and the amendment of Article136 TFUEU concerning the stability mechanism are only a first step in that direction;
Amendment 53 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Is deeply concerned by the intention of Heads of States and Governments to establish the permanent sa European Stability mMechanism (ESM) outside the EU institutional framework, with the consequence that the Union institutions will not be fully involved; considers that the Commission must be a full member of this Mechanism, and not simply an observer; considers, moreover, that in this context the Commission should be entitled to take the appropriate initiatives in order to achieve, with the consent of the Member States concerned, the objectives of the ESM; underlines that Member States must at any rate respect Union law and the prerogatives of the institutions laid down therein;
Amendment 65 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Considers that the setting-up and functioning of the permanent stability mechanism should be brought as close as possible to the European Union framework, also making use, by analogy, of the institutional patterns of an enhanced cooperation under Article 20 TEU as a means of involving the Union institutions at a preliminary stage and reassuring those Member States whose currency is not yet the euro;
Amendment 78 #
Motion for a resolution
Paragraph 9 – point a
Paragraph 9 – point a
(a) a redrafting of the European Council draft decision as proposed in the amendments annexed hereto1, it being understood that, by shifting the proposed provision from Article 136(3) to Article 136(1) TFEU, the permanent stability mechanism, notwithstanding its initial intergovernmental characterorigin, would be placed in a perspective of possible future incorporation into the framework of the Union, e.g. in the form of a special kind offic agency, making use of all the institutional patterns of enhanced cooperatthe Union;
Amendment 83 #
Motion for a resolution
Paragraph 9 – word separating points a and b
Paragraph 9 – word separating points a and b
Amendment 86 #
Motion for a resolution
Paragraph 9 – point b – introductory wording
Paragraph 9 – point b – introductory wording
(b) a clear declarationcommitment by the European Council ensuring that:
Amendment 94 #
Motion for a resolution
Paragraph 9 – point b – indent 2
Paragraph 9 – point b – indent 2
– the European Commission will carry out all the necessary tasks in implementing and monitoring the permanent mechanism and in assessing the financial situation of all the Member States whose currency is the euro, regularly reporting back to the European Parliament;
Amendment 100 #
Motion for a resolution
Paragraph 9 – point b – indent 3 a (new)
Paragraph 9 – point b – indent 3 a (new)
– no Member State whose currency is the euro and which has contributed to the permanent stability mechanism should be excluded from accessing it on the grounds of its size;
Amendment 107 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Recalls that the future stability mechanism should as far as possible make use of the Union institutions, for example as regards the carrying-out of administrative tasks, since this would avoid the setting-up of double structures which in the long term would prove detrimental to European integration;
Amendment 110 #
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10a. Demands that the lending conditions to be applied for the repayment of funds to the permanent stability mechanism in the event of its being activated be similar to those applied to the Balance-of- Payments Facility (BoP) and Macro- financial Assistance (MFA) instruments used by the European Commission, i.e. strictly back-to-back without a margin over borrowing costs; furthermore considers that the interest rates to be used by the permanent stability mechanism should be offered on favourable terms;
Amendment 111 #
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10b. States that the permanent stability mechanism needs to have a range of financial instruments at its disposal, including the ability to purchase the bonds of a Member State facing severe debt problems on both the primary and secondary markets in order to facilitate that Member State's access to financial markets;
Amendment 119 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Is confident that, should the European Council depart in its decision from Parliament’s opinion, it will state its reasons for so doing;
Amendment 124 #
Draft Decision
Article 1
Article 1
The following subparagraph shall bs are added to Article 136 of the Treaty on the Functioning of the European Union: “3. T(1) TFEU: “On a recommendation from the Commission and after consulting the European Parliament, the Council may authorise the Member States whose currency is the euro mayto establish a stability mechanism to be activated if indispensable to safeguard the stability of the euro area as a whole. The granting of any required financial assistance under the mechanism will be made subject to strict conditionalitydecided on the basis of a Commission proposal and be made subject to strict conditionality criteria in accordance with the principles and objectives of the Union. The European Parliament and the Council shall lay down the principles and general conditions for conditionality of financial assistance under the mechanism and its control, in accordance with the procedure referred to in Article 121(6).”.
Amendment 125 #
Draft decision
Article 1
Article 1
The following subparagraph shall bs are added to Article 136 of the Treaty on the Functioning of(1) TFEU: “On a recommendation from the Commission and after consulting the European Union: “3. TParliament, the Member States whose currency is the euro may establish a stability mechanism to be activated if indispensable to safeguard the stability of the euro area as a whole. The granting of any required financial assistance under the mechanism will be made subject to strict conditionalitydecided on the basis of a European Commission proposal and be made subject to strict conditionality criteria in accordance with the principles and objectives of the Union. The European Parliament and the Council shall lay down the principles and general conditions for conditionality of financial assistance under the mechanism and its control, in accordance with the procedure referred to in Article 121(6).”.