Activities of Liem HOANG NGOC related to 2012/2028(INI)
Plenary speeches (1)
Feasibility of introducing stability bonds (debate)
Amendments (21)
Amendment 5 #
Motion for a resolution
Citation 1 a (new)
Citation 1 a (new)
– having regard to its resolution of 18 November 2008 on the EMU@10:The first 10 years of Economic and Monetary Union and future challenges,
Amendment 6 #
Motion for a resolution
Citation 1 b (new)
Citation 1 b (new)
Amendment 21 #
Motion for a resolution
Recital B
Recital B
B. whereas the eurozone is in a unique situation, with eurozone Member States sharing a single currency but no common fiscalbudgetary policy or common bond market;
Amendment 40 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note of the various crisis mitigation and resolution efforts of the European institutions, particularly the establishment of the EFSM, the EFSF, the EFSM, the SMP and the LTRO, and the agreement on the ESM and the fiscal compact;
Amendment 57 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. WelcomesTakes note of the fiscal consolidation and structural reform efforts undertaken by Member States for which the calendar of implementation must be adapted to the current situation;
Amendment 110 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that the prospect of common bonds can foster stability in , sustainable growthe, euro area and be an additional element to incentivise compliance with the stability and growth pactmployment and fiscal consolidation in the euro area; reiterates its position that sequencing is a key issue involving a binding roadmap, included in the annex, similar to the Maastricht criteria for introducing the single currency;
Amendment 143 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Urges Member States to seriously consider the option of immediately establishing a European Redemption Fund in order to allow participating countries to reduce excessive debt over a maximumgiven period of 25 yearstime by using the interest rate savings for debt reduction;
Amendment 205 #
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 245 #
Motion for a resolution
Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 1
Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 1
- transfer of debt amounts above the Maastrichta given common reference value of 60 % of GDP to a common fund subject to joint and several liability through a roll-in phase of five years;
Amendment 247 #
Motion for a resolution
Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 2
Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 2
Amendment 257 #
Motion for a resolution
Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 3
Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 3
- oblige Member States to autonomously redeem the transferred debt over a given period of time, which could for instance be set at a maximum 25of 40 years, by using the interest rate savings for debt redemption which could be shorter if the growth rate is higher than foreseen;
Amendment 265 #
Motion for a resolution
Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 4
Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 4
- implement the national debt brakes introduced in the fiscal compact to limit the debts that remain exclusively with the participating Member States at a maximum of 60 % of GDP and oblige Member States to cover their liabilities by risk-free collateralMember States shall have in place fiscal rules that implement in the national budgetary processes their medium-term budgetary objectives as defined in Article 2a of Regulation (EC) N01466/97;
Amendment 267 #
Motion for a resolution
Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 5
Annex - Phase 1 - Point 1 - Paragraph 1 - Subparagraph 5
- implement the new frameworkstrengthen the co-ordination of economic governance together with a binding structural reformgrowth and convergence agenda monitored by the Commission;
Amendment 278 #
Motion for a resolution
Annex - Phase 1 - Point 2 - Paragraph 1 - Subparagraph 1
Annex - Phase 1 - Point 2 - Paragraph 1 - Subparagraph 1
- establish an agency or use an existing entity to issue eurobills and limit participation to Member States that comply with the rules as set-out in the Stability and Growth Pact;
Amendment 295 #
Motion for a resolution
Annex - Phase 1 - Point 2 - Paragraph 1 - Subparagraph 4 a (new)
Annex - Phase 1 - Point 2 - Paragraph 1 - Subparagraph 4 a (new)
- The ESM shall obtain a banking licence to intervene if proven necessary to ensure the adequate functioning of the system;
Amendment 314 #
Motion for a resolution
Annex - Phase 2 - Paragraph 2
Annex - Phase 2 - Paragraph 2
The Commission puts forward proposals for the setting up of a system for the allocation of debt below 60 % of GDP to be issued in common, which is safeguarded by national debt brakes according to principlesadequate mechanisms to avoid moral hazard such as:
Amendment 318 #
Motion for a resolution
Annex - Phase 2 - Paragraph 2 - Subparagraph 1
Annex - Phase 2 - Paragraph 2 - Subparagraph 1
Amendment 323 #
Motion for a resolution
Annex - Phase 2 - Paragraph 2 - Subparagraph 3
Annex - Phase 2 - Paragraph 2 - Subparagraph 3
Amendment 325 #
Motion for a resolution
Annex - Phase 2 - Paragraph 2 - Subparagraph 4
Annex - Phase 2 - Paragraph 2 - Subparagraph 4
- design an allocation mechanism taking into account the economic cycle, the respect of the fiscal discipline and weighted by borrowing requirements;
Amendment 335 #
Motion for a resolution
Annex - Phase 3 - Paragraph 1
Annex - Phase 3 - Paragraph 1
On the basis of the work of the committee, the Commission puts forward, if appropriate, proposals for a Treaty change (and where necessary, Member States’ constitutional changes) and proposals for the setting up of a system for the common issuance of bonds according to the following principles:
Amendment 351 #
Motion for a resolution
Annex - Phase 4 - Paragraph 1
Annex - Phase 4 - Paragraph 1
- The Commission, after having prepared all eventual changes to the EU legal framework, puts forward proposals for possiblthe issuance of bonds to finance EU investments for EU public goods (e.g. infrastructure, research and development, etc.)ulfil the objectives of the Union as set out in Article 3 of the TFEU as well as serving as an instrument to facilitate fiscal adjustment in response to external shocks when cross-border effects are at play.