4 Amendments of Sven GIEGOLD related to 2010/0278(COD)
Amendment 21 #
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3a) The provisions of this Regulation are fully consistent with horizontal clauses of the TFEU, namely Articles 7, 8, 9, 10 and 11, as well as provisions of Protocol 26 and Article 153(5).
Amendment 30 #
Proposal for a regulation
Chapter II – title
Chapter II – title
Sanctions and incentives in the preventive part of the Stability and Growth Pact
Amendment 31 #
Proposal for a regulation
Article -3 (new)
Article -3 (new)
Article -3 (new) Common Eurobonds 1. Common eurobonds in the euro area shall be established with the aim of reinforcing compliance with the Stability and Growth Pact and enhancing convergence and economic policy coordination. They shall either be issued in exchange of existing National bonds at market prices and/or at a discount or issued in place of National bonds. These common bonds would in particular be used in exchange offers with an appropriate discount in the framework of a sovereign debt resolution plans and in particular in the framework of the European Stability Mechanism. 2. The participation for the issuance of common eurobonds shall depend on the adherence to the reformed Stability and Growth Pact and be decided upon by the Council on a recommendation of the Commission. 3. The common eurobonds may pool up to 60% of GDP of national debt of each participating Member State. Common debt shall be senior to other debts issued by individual Member States. 4. Issuance of the eurobonds shall be based on a robust institutional and administrative set up according to the highest standards and best practices of agencies currently managing sovereign debt in Member States.
Amendment 35 #
Proposal for a regulation
Article 8 a (new)
Article 8 a (new)
Article 8 a Fiscal Convergence 1. The Commission shall make a consistent package of legislative proposals by the end of 2011 in order to provide a fully fledged common European fiscal framework to ensure convergence, good regulation and fair competition. 2. The package will contain: a) general provisions for a common consolidated corporate tax base as well as minimum corporation tax rates to be gradually increased towards 25%; b) general provisions in order to enhance fiscal cooperation towards full automatic exchange of information and strengthen the fight against tax avoidance; c) A euro area financial transaction tax; d) Coordinated introduction of environmental taxes; e) A financial activity tax regarding the size of the institution and the level of uninsured short-term funding. f) Introducing country-by-country compulsory reporting system on corporate income and taxes paid thereon, as well as an automatic exchange of information.