5 Amendments of Jürgen KLUTE related to 2010/0821(NLE)
Amendment 10 #
Draft decision
Recital 4
Recital 4
(4) The stability mechanism will provide thea necessary tool for dealing with such cases of risk to the financial stability of the euro area as a whole, or of Member States whose currency is the euro, as have been experienced in 2010, and hence help preserve the economic and financial stability of the Union itselfpolitical cohesion and economic, financial and social stability of the Union itself. The social impact of possible conditionality needs to be carefully assessed and potentially adverse social consequences should be minimised. At its meeting of 16 December 2010, the European Council agreed that, as this mechanism is designed to safeguard the financial stability of the euro area as whole, Article 122(2) of the TFEU will no longer be needed for such purposes. The Heads of State or Government therefore agreed that it should not be used for such purposes in the future.
Amendment 14 #
Draft decision
Recital 4 b (new)
Recital 4 b (new)
(4b) The Commission should also look at other mechanisms to ensure the financial stability and sustainable and adequate economic growth of the euro area, and should make the necessary legislative proposals.
Amendment 16 #
Draft decision
Recital 4 d (new)
Recital 4 d (new)
(4d) The stability mechanism will supplement additional measures used to reduce risks to financial, economic and social stability, including effective regulation of financial markets, revision of the Stability and Growth Pact, better economic coordination and the introduction of instruments for the reduction of macroeconomic imbalances inside the euro area.
Amendment 17 #
Draft decision
Recital 4 e (new)
Recital 4 e (new)
(4e) The Member States, particularly those whose currency is the euro, need to work together in a spirit of solidarity to tackle problems relating to macroeconomic imbalances between Member States and divergences in competitiveness inside the euro area.
Amendment 27 #
Draft decision
Article 1
Article 1
The following paragraph shall be added to Article 136 of the Treaty on the Functioning of the European Union: "3. 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 conditionality or of Member States whose currency is the euro.".