37 Amendments of Jürgen KLUTE related to 2010/0278(COD)
Amendment 19 #
Proposal for a regulation
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–
The European Parliament rejects the Commission proposal.
Amendment 20 #
Proposal for a regulation
Recital 3
Recital 3
(3) Additional sanctions areassistance is necessary to make the enforcement of budgetary surveillance more effective in the euro area. Those sanctions should enhance the credibility of the fiscal surveillance framework of the UnionEventual sanctions should not harm political solidarity of the Union and social cohesion in its Member States. Incentives should enhance the credibility of the monetary union and reduce excessive costs of sovereign debt.
Amendment 22 #
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3a) The budgetary surveillance framework should, in any case, support the Union's growth and jobs objectives and needs, especially during the economic or social downturns, be combined with effective efforts to stimulate sustainable growth, the protection of social cohesion and the creation of jobs, whilst respecting Member-State-specific priorities and needs.
Amendment 23 #
Proposal for a regulation
Recital 5
Recital 5
(5) SanctionAssistance and incentives for Member States whose currency is the euro in the preventive part of the Stability and Growth Pact should provide incentives forensure appropriate and prudent fiscal policy-making. Such policy- making should ensure that the growth rate of government expenditure does not normally exceed a prudent medium-term growth rate of gross domestic product (GDP), unless the excess is matched by increases in government revenues or discretionary revenue reductions are compensated by reductions in expenditure.
Amendment 27 #
Proposal for a regulation
Recital 11
Recital 11
(11) A possibility should be provided for the Council to reduce or to cancel the sanctions imposed on Member States whose currency is the euro on the basis of a Commission proposal following a reasonedproposal by the European Parliament or on the basis of a request by the Member State concerned. In the corrective part of the Stability and Growth Pact, the Commission should also be able to propose to reduce the size of a sanction or to cancel it on grounds of exceptional economic and social circumstances.
Amendment 29 #
Proposal for a regulation
Recital 12
Recital 12
(12) The non-interest-bearing deposit should be released upon correction of the excessive deficit while the interest on such deposits and the fines collected should be distributed among Member States whose currency is the euro which do not have an excessive deficit and which are not the subject of an excessive imbalance procedure eithershould be used in support of achieving the Union’s long term investment and jobs objectives, especially in the Union's poorest regions.
Amendment 32 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. If the Council addresses to a Member State a recommendation in accordance with Article 121(4) of the Treaty to take the necessary adjustment measures in the event of persisting orand particularly serious and significant deviations from prudent fiscal policy-making as laid down in Article 6(3) of Regulation (EC) No 1466/97, the lodging of an interest bearing deposit shall be imposed by the Council, acting on a proposal from the Commission and after consulting the European Parliament. The decision shall be deemed to be adopted by the Council unless it decides by qualifiedsimple majority to reject the proposal within ten days of the Commission adopting it. The Council may amend the proposal in accordance with Article 293(1) of the Treaty.
Amendment 33 #
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
2. The interest-bearing deposit to be proposed by the Commission shall amount to 0.201% of the gross domestic product (GDP) of the Member State concerned in the preceding year.
Amendment 34 #
Proposal for a regulation
Article 3 – paragraph 4
Article 3 – paragraph 4
4. By derogation from paragraph 2, the Commission, following a reasoned request by the Member State concerned addressed to the Commission within ten60 days of adoption of the Council recommendation referred to on paragraph 1, may propose to reduce the amount of the interest-bearing deposit or to cancel it.
Amendment 37 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
1. If the Council decides in accordance with Article 126(6) of the Treaty that an excessive deficit exists in a Member State, the lodging of a non-interest-bearing deposit shall be imposed by the Council, acting on a proposal from the Commission and after consulting the European Parliament. The decision shall be deemed adopted by the Council unless it decides by qualifiedsimple majority to reject the proposal within ten30 days of the Commission adopting it. The Council may amend the proposal in accordance with Article 293(1) of the Treaty.
Amendment 38 #
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. The non-interest-bearing deposit to be proposed by the Commission shall amount to 0.201% of the GDP of the Member State concerned in the preceding year.
Amendment 40 #
Proposal for a regulation
Article 4 – paragraph 4
Article 4 – paragraph 4
4. By derogation from paragraph 2 of this Article, the Commission may, on grounds of exceptional economic or social circumstances or following a reasoned request by the Member State concerned addressed to the Commission within ten60 days of adoption of the Council decision in accordance with Article 126(6) of the Treaty, propose to reduce the amount of the non-interest- bearing deposit or to cancel it.
Amendment 42 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. If the Council decides in accordance with Article 126(8) of the Treaty that the Member State has not taken effective action in response to a Council recommendation within the period laid down nor having given a comprehensive explanation, the Council, acting on a proposal from the Commission, shall decide that the Member State shall pay a fine and after consulting the European Parliament, may decide that the Member State shall pay a fine. In respect of Article 153 of the Treaty, no fine will be levied if the fine is related to a recommendation concerning the issue of pay and/or collective bargaining in the public sector. The decision shall be deemed adopted by the Council unless it decides by qualifiedsimple majority to reject the proposal within ten30 days of the Commission adopting it. The Council may amend the proposal in accordance with Article 293(1) of the Treaty.
Amendment 44 #
Proposal for a regulation
Article 7 – title
Article 7 – title
Amendment 46 #
Proposal for a regulation
Article 7
Article 7
The interest earned by the Commission on deposits lodged in accordance with Article 4 and the fines collected in accordance with Article 5 shall constitute other revenue referred to in Article 311 of the Treaty, and shall be distributused, in prosupportion to their share of achieving the gross national income of the eligible Member States, among Member States whose currency is the euro which do not have an excessive deficit as determined in accordance with Article 126(6) of the Treaty and which are not the subject of an excessive imbalance procedure within the meaning of Regulation (EU) No […/…]Union’s long-term investment and jobs objectives, especially for the benefit of the poorest regions in the Union.
Amendment 47 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
This Regulation shall enter into force on the [xx] day following that of its publication in the Official Journal of the European Unionwhen normal economic circumstances have been re-established and once it is assured by an effective regulation of financial markets that sovereign bonds are not object to speculation anymore.
Amendment 56 #
Proposal for a regulation
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-
The European Parliament rejects the Commission proposal.
Amendment 99 #
Proposal for a regulation
Recital 3
Recital 3
(3) Additional sanctions areassistance is necessary to make the enforcement of budgetary surveillance more effective in the euro area. Those sanctions should enhance the credibility of the fiscal surveillance framework of the UnionEventual sanctions should not harm political solidarity of the Union and social cohesion in its Member States. Incentives should enhance the credibility of the monetary union and reduce excessive costs of sovereign debt and public investment.
Amendment 103 #
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3a) The budgetary surveillance framework should, in any case, support the Union's growth and jobs objectives. It needs to be, especially during economic downturns, combined with effective efforts to stimulate sustainable growth, the protection of social cohesion and the creation of jobs, whilst respecting Member-State-specific priorities and needs.
Amendment 128 #
Proposal for a regulation
Recital 5
Recital 5
(5) SanctionAssistance and incentives for Member States whose currency is the euro in the preventive part of the Stability and Growth Pact should provide incentives for prudentensure appropriate and sound fiscal policy-making. Such policy-making should ensure that the growth rate of government expenditure does not normally exceed a prudent medium-term growth rate of gross domestic product (GDP), unless the excess is matched by increases in government revenues or discretionary revenue reductions are compensated by reductions in expenditure.
Amendment 161 #
Proposal for a regulation
Recital 11
Recital 11
(11) A feasible possibility should be provided for the Council to reduce or to cancel the sanctions imposed on Member States whose currency is the euro on the basis of a Commission proposalproposal made by the Commission or the European Parliament or on the basis of following a reasoned request by the Member State concerned. In the corrective part of the Stability and Growth Pact, the Commission should also be able to propose to reduce the size of a sanction or to cancel it on grounds of exceptional economic circumstances. or negative social effects.
Amendment 167 #
Proposal for a regulation
Recital 12
Recital 12
(12) The non-interest-bearing deposit should be released upon correction of the excessive deficit while the interest on such deposits and the fines collected should be distributed among Member States whose currency is the euro which do not have an excessive deficit and which are not the subject of an excessive imbalance procedure eitherused in support of achieving the Union’s long term investment and jobs objectives, especially in order to bridge social and economic gaps between the richest and the poorest Member States.
Amendment 224 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. If the Council addresses to a Member State a recommendation in accordance with Article 121(4) of the Treaty to take the necessary adjustment measures in the event of persisting orand particularly serious and significant deviations from prudent fiscal policy-making as laid down in Article 6(3) of Regulation (EC) No 1466/97, the lodging of an interest bearing deposit shall be imposed by the Council, acting on a proposal from the Commission and after consulting the European Parliament. The decision shall be deemed to be adopted by the Council unless it decides by qualifiedsimple majority to reject the proposal within ten days of the Commission adopting it. The Council may amend the proposal in accordance with Article 293(1) of the Treaty.
Amendment 231 #
Proposal for a regulation
Article 3 – paragraph 2
Article 3 – paragraph 2
2. The interest-bearing deposit to be proposed by the Commission shall amount to 0.201% of the gross domestic product (GDP) of the Member State concerned in the preceding year.
Amendment 238 #
Proposal for a regulation
Article 3 – paragraph 4
Article 3 – paragraph 4
4. By derogation from paragraph 2, the Commission, following a reasoned request by the Member State concerned addressed to the Commission within ten50 days of adoption of the Council recommendation referred to on paragraph 1, may propose to reduce the amount of the interest-bearing deposit or to cancel it.
Amendment 249 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
1. If the Council decides in accordance with Article 126(6) of the Treaty that an excessive deficit exists in a Member State, the lodging of a non-interest-bearing deposit shall be imposed by the Council, acting on a proposal from the Commission after consulting the European Parliament and informing the Parliament of the Member State under procedure. The decision shall be deemed adopted by the Council unless it decides by qualifiedsimple majority to reject the proposal within ten60 days of the Commission adopting it. The Council may amend the proposal in accordance with Article 293(1) of the Treaty.
Amendment 252 #
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. The non-interest-bearing deposit to be proposed by the Commission shall amount tonot exceed 0.02% of the GDP of the Member State concerned in the preceding year.
Amendment 256 #
Proposal for a regulation
Article 4 – paragraph 3 – subparagraph 1
Article 4 – paragraph 3 – subparagraph 1
Amendment 260 #
Proposal for a regulation
Article 4 – paragraph 4
Article 4 – paragraph 4
4. By derogation from paragraph 2 of this Article, the Commission may, on grounds of exceptional or social economic circumstances or following a reasoned request by the Member State concerned addressed to the Commission within ten50 days of adoption of the Council decision in accordance with Article 126(6) of the Treaty, propose to reduce the amount of the non-interest- bearing deposit or to cancel it.
Amendment 263 #
Proposal for a regulation
Article 5
Article 5
Amendment 267 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. If the Council decides in accordance with Article 126(8) of the Treaty that the Member State has notr taken effective action in response to a Council recommendation within the period laid down, the Council, acting on a proposal from the Commission, shall decide that the Member State shall pay a fine. The decision shall be deemed adopted by the Council unless it decides by qualified majority to reject the proposal within ten days of the Commission adopting and has neither given explanation for deviating from the recommendations, the Council, acting on a proposal from the Commission and after consulting the European Parliament, may decide that the Member State shall pay a non-interest bearing deposit. In respect of article 153 of the Treaty, no sanction will be enforced if it is related to a recommendation concerning the issue of pay and/or collective bargaining in the public sector. The decision shall be adopted by the Council by qualified majority. The Council may amend the proposal in accordance with Article 293(1) of the Treaty.
Amendment 275 #
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. The finenon-interest bearing deposit to be proposed by the Commission shall amount to 0.02% of the GDP of the Member State concerned in the preceding year.
Amendment 281 #
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. By derogation from paragraph 2 of this Article, the Commission may, on grounds of exceptional economic or social circumstances or following a reasoned request by the Member State concerned addressed to the Commission within ten50 days of adoption of the Council decision in accordance with Article 126(8) of the Treaty, propose to cancel or to reduce the amount of the finenon- interest bearing deposit.
Amendment 289 #
Proposal for a regulation
Article 7 – title
Article 7 – title
Amendment 295 #
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
The interest earned by the Commission on deposits lodged in accordance with Article 4 and the fines collected in accordance with Article 5 shall constitute other revenue referred to in Article 311 of the Treaty, and shall be distributused, in prosupportion to their share of achieving the gross national income of the eligible Member States, among Member States whose currency is the euro which do not have an excessive deficit as determined in accordance with Article 126(6) of the Treaty and which are not the subject of an excessive imbalance procedure within the meaning of Regulation (EU) No […/…]Union’s long-term investment, jobs and growth objectives and, in particular, to close the gaps between the poorest and the richest Member States in the Union.
Amendment 300 #
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
Amendment 308 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
This Regulation shall enter into force on the [xx] day following that of its publication in the Official Journal of the Europeanwhen the following conditions have been fulfilled: - a transparent social impact assessment undertaken by the Commission has proven the appropriateness of the regulations and directives linked to the Economic Governance package for reaching the Union’s goals for growth, employment and the reduction of poverty as set out in the EU 2020 strategy; - the effective regulation of financial markets in the Union prevent macroeconomic and macrofinancial imbalances from being reinforced by external threats. This regulation shall include the European ban of short sellings and OTC derivatives as well as the introduction of a European financial transaction tax; - normal economic circumstances have been reestablished throughout the Union.