27 Amendments of Sven GIEGOLD related to 2010/0280(COD)
Amendment 65 #
Proposal for a regulation – amending act
Citation 1
Citation 1
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 121(6), 148(3) and 148(4) thereof,
Amendment 66 #
Proposal for a regulation – amending act
Recital 1 a (new)
Recital 1 a (new)
(1a) 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 73 #
Proposal for a regulation – amending act
Recital 7
Recital 7
(7) The obligation to achieve and maintain the medium-term budgetary objective needs to be put into operation, through the specification of principles of prudentsustainable fiscal policy-making.
Amendment 75 #
Proposal for a regulation – amending act
Recital 9
Recital 9
(9) PrudentSustainable fiscal policy-making implies that tcompliance with a set of revenue side and expenditure side rules where growth in structural fiscal revenues excluding windfall, cyclically driven and one off measures should normally not fall behind the medium growth rate of GDP over the business cycle. The growth rate of government expenditure does normally not exceed a prudent medium-term growth rate of GDP, increases in excess of that norm are matched by discretionary increases in government revenues and discretionary revenue reductions are compensated by reductions in expenditure over the business cycle, discretionary increases in excess of that norm on expenditure or discretionary reductions in tax revenues are matched by accompanying other discretionary measures, either on the side of expenditure and/or on the side of tax revenues. Sustainable fiscal policy making involves taking proper and explicit account as aggravating or mitigating factors in the sense of Regulation 1467/97 of long term determinants of economic sustainability such as social inclusion, environmental externalities, in particular climate change, as well as the costs related to the internalization of other negative externalities which represent a burden for future generations.
Amendment 79 #
Proposal for a regulation – amending act
Recital 10
Recital 10
(10) A temporary departure from prudentsustainable fiscal policy-making should be allowed in case of severe economic downturn of a general nature in order to facilitate economic recovery.
Amendment 81 #
Proposal for a regulation – amending act
Recital 11
Recital 11
(11) In the event of a significant deviation from prudentsustainable fiscal-policy a warning should be addressed to the Member State concerned and in case the significant deviation persists or is particularly serious, a recommendation should be addressed to the Member State concerned to take the necessary corrective measures.
Amendment 82 #
Proposal for a regulation – amending act
Recital 11
Recital 11
(11) In the event of a significant deviation from prudentsustainable fiscal-policy a warning should be addressed to the Member State concerned and in case the significant deviation persists or is particularly serious, a recommendation should be addressed to the Member State concerned to take the necessary corrective measures.
Amendment 84 #
Proposal for a regulation – amending act
Recital 12
Recital 12
(12) In order to ensure compliance with the fiscal surveillance framework of the Union for participating Member States, a specific enforcement mechanism should be established on the basis of Article 136 of the Treaty for cases where a persistent and significant deviation from prudentsustainable fiscal policy making prevails.
Amendment 89 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 3
Article 5 – paragraph 1 – subparagraph 3
With a view to ensuring that the medium- term budgetary objective is effectively achieved and maintained, the Council shall verify that the growth path of government expenditure, taken in conjunction with the effect of measures being taken or planned on the revenue side, is consistent with prudentsustainable fiscal policy-making.
Amendment 90 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4 – introductory part
Article 5 – paragraph 1 – subparagraph 4 – introductory part
Fiscal policy-making shall be considered prudentsustainable and thereby conducive to the achievement of the medium-term budgetary objective and its maintenance over time if the following conditions are satisfied:
Amendment 92 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4 – point a
Article 5 – paragraph 1 – subparagraph 4 – point a
(a) for Member States that have achieved the medium-term budgetary objective, annual expenditure growth does not exceed a prudentsustainable medium-term rate of GDP growth, unless the excess is matched by discretionary revenue measures;
Amendment 94 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4 – point b
Article 5 – paragraph 1 – subparagraph 4 – point b
(b) for Member States that have not yet reached their medium-term budgetary objective, annual expenditure growth does not exceed a rate below a prudentsustainable medium- term rate of GDP growth, unless the excess is matched by discretionary revenue measures. The size of the shortfall of the growth rate of government expenditure compared to a prudentsustainable medium-term rate of GDP growth is set in such a way as to ensure an appropriate adjustment towards the medium-term budgetary objective;
Amendment 95 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 5
Article 5 – paragraph 1 – subparagraph 5
The prudentsustainable medium-term of growth should be assessed on the basis of projections over a ten-year horizon updated at regular intervals.
Amendment 104 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 9
Article 5 – paragraph 1 – subparagraph 9
In periods of severe economic downturn of a general nature Member States may be allowed to temporarily depart from the adjustment path implied by prudentsustainable fiscal- policy making referred to in the fourth subparagraph.
Amendment 105 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The Council shall carry out the examination of the stability programme within at most three months of the submission of the programme. The Council, on a recommendation from the Commission and after consulting the Economic and Financial Committee, shall, if necessary, deliver an opinion on the programme. Where the Council, in accordance with Article 121 of the Treaty, considers that the objectives and the content of the programme should be strengthened with particular reference to prudentsustainable fiscal policy-making, the Council shall, in its opinion, invite the Member State concerned to adjust its programme.
Amendment 106 #
Proposal for a regulation – amending act
Article 1 – point 5
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 1
Article 6 – paragraph 1
1. As part of multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall monitor the implementation of stability programmes, on the basis of information provided by participating Member States and of assessments by the Commission and the Economic and Financial Committee, in particular with a view to identifying actual or expected significant divergences of the budgetary position from the medium-term budgetary objective, or from the appropriate adjustment path towards it ensuing from deviations from prudentsustainable fiscal-policy making.
Amendment 107 #
Proposal for a regulation – amending act
Article 1 – point 5
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – subparagraph 1
Article 6 – paragraph 2 – subparagraph 1
2. In the event of a significant deviation from prudentsustainable fiscal-policy making referred in the fourth subparagraph of Article 5(1) of this regulation, and in order to prevent the occurrence of an excessive deficit, the Commission, in accordance with Article 121(4) of the Treaty may address a warning to the Member State concerned.
Amendment 108 #
Proposal for a regulation – amending act
Article 1 – point 5
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – subparagraph 2
Article 6 – paragraph 2 – subparagraph 2
A deviation from prudentsustainable fiscal policy making shall be considered significant if the following conditions occur: an excess over the expenditure growth consistent with prudentsustainable fiscal policy-making, not offset by discretionary revenue-increasing measures; or discretionary revenue- decreasing measures not offset by reductions in expenditure; and the deviation has a total impact on the government balance of at least 0.5 % of GDP in one single year or of at least 0.25 % of GDP on average per year in two consecutive years.
Amendment 110 #
Proposal for a regulation – amending act
Article 1 – point 5
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 3
Article 6 – paragraph 3
3. In the event that the significant deviation from prudentsustainable fiscal-policy making persists or is particularly serious, the Council, on a recommendation from the Commission, shall address a recommendation to the Member State concerned to take the necessary adjustment measures. The Council, on a proposal from the Commission, shall make the recommendation public.
Amendment 114 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 3
Article 9 – paragraph 1 – subparagraph 3
With a view to ensuring that the medium- term budgetary objective is effectively achieved and maintained, the Council shall verify that the growth path of government expenditure, taken in conjunction with the effect of the measures being taken or proposed on the revenue side, is consistent with prudentsustainable fiscal-policy making.
Amendment 115 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 4
Article 9 – paragraph 1 – subparagraph 4
Fiscal-policy making shall be considered prudentsustainable and thereby conducive to the achievement of the medium-term budgetary objective and its maintenance over time if the following conditions are satisfied:
Amendment 116 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 4 – point a
Article 9 – paragraph 1 – subparagraph 4 – point a
(a) for Member States that have achieved the medium-term budgetary objective, annual expenditure growth does not exceed a prudentsustainable medium-term rate of GDP growth, unless the excess is matched by discretionary revenue measures;
Amendment 117 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 5
Article 9 – paragraph 1 – subparagraph 5
The prudentsustainable medium-term of growth should be assessed on the basis of projections over a ten-year horizon updated at regular intervals.
Amendment 124 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 9
Article 9 – paragraph 1 – subparagraph 9
In periods of severe economic downturn of a general nature Member States may be allowed to temporarily depart from the adjustment path implied by prudentsustainable fiscal- policy making referred to in the fourth subparagraph.
Amendment 125 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The Council shall carry out the examination of the convergence programme within at most three months of the submission of the programme. The Council, on a recommendation from the Commission and after consulting the Economic and Financial Committee, shall, if necessary, deliver an opinion on the programme. Where the Council, in accordance with Article 121 of the Treaty, considers that the objectives and the content of the programme should be strengthened with particular reference to prudentsustainable fiscal-policy making, the Council shall, in its opinion, invite the Member State concerned to adjust its programme.
Amendment 126 #
Proposal for a regulation – amending act
Article 1 – point 9
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 1 – subparagraph 1
Article 10 – paragraph 1 – subparagraph 1
1. As part of multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall monitor the implementation of convergence programmes, on the basis of information provided by Member States with a derogation and of assessments by the Commission and the Economic and Financial Committee, in particular with a view to identifying actual or expected significant divergences of the budgetary position from the medium-term budgetary objective, or from the appropriate adjustment path towards it, ensuing from deviations from prudentsustainable fiscal-policy making.
Amendment 246 #
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint i a (new)
Article 1 – point 2 – subpoint b – subpoint i a (new)
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point a a (new)
Article 3 – paragraph 2 – point a a (new)
(ia) the following point is inserted: (aa) The expected path of the general government debt ratio, including any implicit or contingent liability, such as public guarantees, the exact nature of that information being set out in a harmonised framework to be established by the Commission;