Activities of Roberto GUALTIERI related to 2011/0385(COD)
Plenary speeches (1)
Economic and budgetary surveillance of Member States with serious difficulties with respect to their financial stability in the euro area - Monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area (debate)
Amendments (15)
Amendment 96 #
Proposal for a regulation
Article 1 a (new)
Article 1 a (new)
Article 1a Regulation (EU) No 1466/97 shall be amended as follows: In Article 2a, the second paragraph is replaced by the following: "Taking these factors into account, for participating Member States and for Member States that are participating in ERM2 the country-specific medium- term budgetary objectives shall be specified within a defined range between -0,5 % of GDP and balance or surplus, in cyclically adjusted terms, net of 2/5 of gross fixed capital formation as defined in the European System of Integrated Economic Accounts and net of one-off and temporary measures. For participating Member States, where the ratio of the general government rate to gross domestic product at market prices is below 60% and where risks in terms of long term sustainability of public finances are low, the country specific medium-term budgetary objectives shall be specified within a defined range between a lower limit of a structural deficit of -1% of GDP at market prices and balance or in surplus, in cyclically adjusted terms, net of 2/5 of gross fixed capital formation as defined in the European System of Integrated Economic Accounts and one- offs and temporary measures."
Amendment 102 #
Proposal for a regulation
Article 2 – paragraph 1
Article 2 – paragraph 1
1. The Commission may decide to make, following an in-depth review as provided for in Article 5 of Regulation (EU) No 1176/2011 where it concluded that a Member State is experiencing or is threatened with severe difficulties with regard to its financial stability, to subject such Member State to enhanced surveillance. The Member State concerned shall be given the possibility to express its views beforehand. The Commission shall decide every six months whether to prolong the enhanced surveillanceinform the European Parliament and the Council of its decision and of the views expressed by the Member State concerned. Within one month of such communication, the European Parliament, acting by a majority of its component members, or the Council, by qualified majority, may decide to repeal that decision. The Commission shall decide every six months whether to prolong the enhanced surveillance. The European Parliament, acting by a majority of its component members or the Council, by qualified majority, may decide to repeal that decision within one month.
Amendment 137 #
Proposal for a regulation
Article 3 – paragraph 4
Article 3 – paragraph 4
4. The Commission shall conduct, in liaison with the ECB, regular review missions in the Member State under surveillance to verify the progresses made in the implementation of the measures mentioned in paragraph 1, 2 and 3. It shall communicate every quarter its findings to the Economic and Financial Committee (EFC) - or to any subcommittee the latter may designate for that purpose - as well as to the competent committee of the European Parliament - and assess notably whether further measures are needed. These review missions shall replace the onsite monitoring foreseen in Article 10a(2) of Regulation (EC) No 1467/97.
Amendment 142 #
Proposal for a regulation
Article 3 – paragraph 5
Article 3 – paragraph 5
5. Where it is concluded - on the basis of the assessment foreseen in paragraph 4 - that further measures are needed and the financial situation of the Member State concerned has significant adverse effects on the financial stability of the euro area, on a proposal from the Commission, the Council, acting by qualified majority on a proposal from the Commission, may recommend to the Member State concerned to seek financial assistance and to prepare a macro-economic adjustment programmeand with the consent of the European Parliament, may recommend to the EFSF or to the ESM to offer financial assistance, linked to appropriate conditionality, to the Member State concerned. The Council may decide tocan only make this recommendation public insofar as financial assistance is granted.
Amendment 154 #
Proposal for a regulation
Article 3 – paragraph 6 – point b a (new)
Article 3 – paragraph 6 – point b a (new)
(ba) the Commission shall inform in due time the relevant committee of the European Parliament on the content of the recommendation.
Amendment 158 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
A Member State wishing to obtain financial assistance from one or several other States, the EFSF, the ESM, the International Monetary Fund (IMF) or another institution outside of the Union framework shall immediately inform the Council, the Commission, the European Parliament and the ECB of its intention. The competent committee of the European Parliament together with the EFC, or any subcommittee the latter may designate for that purpose, shall hold a discussion on this envisaged request, after having received an assessment from the Commission.
Amendment 175 #
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
2. TOn a proposal from the Commission, the Council, acting by qualified majority on a proposal from the Commissionand with the consent of the European Parliament, shall approve the adjustment programme.
Amendment 183 #
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. The Commission, in liaison with the ECB, shall monitor the progress made in the implementation of the adjustment programme and inform every three months the competent committee of the European Parliament as well as the EFC or any subcommittee the latter may designate for that purpose. The Member State concerned shall give the Commission its full cooperation. It shall in particular provide to the Commission all the information that the latter deems necessary for the monitoring of the programme. Article 3(3) shall apply.
Amendment 191 #
Proposal for a regulation
Article 6 – paragraph 4
Article 6 – paragraph 4
4. The Commission - in liaison with the ECB - shall examine with the Member State concerned the changes that may be needed to its adjustment programme. TOn a proposal from the Commission, the Council, acting by a qualified majority on a proposal from the Commission,and with the consent of the European Parliament shall decide on any change to be made to the adjustment programme.
Amendment 205 #
Proposal for a regulation
Article 6 – paragraph 8 a (new)
Article 6 – paragraph 8 a (new)
8a. The relevant committee of the European Parliament may invite representatives of the Commission to participate to an exchange of views on the terms of the adjustment programme.
Amendment 224 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
The implementation of Regulation (EU) No XXX on common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area shall be suspended for the Member States subject to a macro- economic adjustment programme approved by the Council in accordance with Article 6(2) of this Regulation. This suspension shall be applicable for the duration of the macro- economic adjustment programme.
Amendment 227 #
Proposal for a regulation
Article 10 a (new)
Article 10 a (new)
Article 10a Placement of a Member State under legal protection Where a Member State considers that it is at risk of failure to pay its financial commitments that Member State may request to the Commission to be placed under legal protection for a limited period of time to be determined by the Commission. On a proposal from the Commission, the Council, acting by qualified majority and with the consent of the European Parliament may grant such legal protection. A decision placing a Member State under legal protection shall have the following effects: - 'close-out netting' or 'credit event' provisions become inoperative, - the loan interest rates applied are maintained and new loans to the Member State, with the exception of financial assistance referred to in Article 1(1), are to be reimbursed as a priority, - the creditors of the Member State concerned make themselves known to the Commission within two months from the publication of the decision placing the Member State concerned under legal protection in the Official Journal of the European Union; failure to do so results in their debt being extinguished, - the authorities of the Member State concerned implement the measures recommended in the technical assistance provided for in Article 6(6) and submit to the Commission a recovery and debt settlement plan for approval.
Amendment 232 #
Proposal for a regulation
Article 11 – paragraph 1
Article 11 – paragraph 1
1. A Member State shall be under post- programme surveillance as long as a minimum of 75% of the financial assistance received from one or several other Member State(s), the EFSM, the EFSF or the ESM has not been repaid. The Co or unctil, acting on a qualified majority on a proposal from the Commission, the Member State has corrected its excessive deficit as provided in Council Regulation (EU) No 1177/2011. On a proposal from the Commission, the Council, acting by qualified majority and with the consent of the European Parliament may extend the duration of the post programme surveillance.
Amendment 236 #
Proposal for a regulation
Article 11 – paragraph 3
Article 11 – paragraph 3
3. The Commission shall conduct, in liaison with the ECB, regular review missions in the Member State under post programme surveillance to assess its economic, fiscal and financial situation. It shall communicate every semester its findings to the EFC or to any subcommittee the latter may designate for that purpose and to the competent committee of the European Parliament and assess notably whether corrective measures are needed.
Amendment 242 #
Proposal for a regulation
Article 11 – paragraph 4
Article 11 – paragraph 4
4. TOn a proposal from the Commission, the Council, acting by qualified majority on a proposal from the Commission,and with the consent of the European Parliament may recommend to the Member State under post programme surveillance to adopt corrective measures.