3 Amendments of Burkhard BALZ related to 2010/0276(CNS)
Amendment 84 #
Proposal for a regulation – amending act
Recital 4 a (new)
Recital 4 a (new)
(4a) The Stability and Growth Pact and the complete economic governance framework should complement and be compatible with a Union strategy for growth and jobs which aims at boosting the Union's competitiveness and social stability. However, these interlinkages should not provide for exemptions to the provisions of the Stability and Growth Pact.
Amendment 183 #
Proposal for a regulation – amending act
Article 1 – point 2 – point b
Article 1 – point 2 – point b
Regulation (EC) No 1467/97
Article 2 – paragraph 1a
Article 2 – paragraph 1a
1a. When it exceeds the reference value, the ratio of the government debt to gross domestic product (GDP) is to be considered sufficiently diminishing and approaching the reference value at a satisfactory pace in accordance with Article 126 (2) (b) of the Treaty if the differential with respect to the reference value has reduced over the previous three years at an average rate of the order of one-twentieth per year and at all events by at least 0.5 % of GDP within the meaning of Article 3(4), the higher rate of reduction being applied. This ensures that government debt returns more quickly to a level below the reference value. [As a benchmark, following an assessment made over a three-year period]. For a period of 3 years from [date of entering into force of this Regulation - to be inserted], account shall be taken of the backward-looking nature of this indicator in its application.
Amendment 307 #
Proposal for a regulation – amending act
Article 1 – point 14
Article 1 – point 14
Regulation (EC) No 1467/97
Article 16
Article 16
Fines referred to in Article 12 of this Regulation shall constitute other revenue referred to in Article 311 of the Treaty and shall be distributed among participating Member States which do not have 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 […/…], in proportion to their share in the total gross national income (GNI) of the eligible Member Statesbe allocated to the stability mechanism announced in a Council Decision on 16 December 2010. Until the establishment of this mechanism the fines shall be credited to the European Financial Stability Facility.