9 Amendments of Derk Jan EPPINK related to 2010/0278(COD)
Amendment 66 #
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2a) The improved economic governance framework to be put in place in the euro area should include an effective framework for preventing and correcting excessive budgetary positions (the revised Stability and Growth Pact), a robust framework for preventing and correcting macro-economic imbalances, an enhanced financial market regulation and supervision (including macro-prudential supervision by the European Systemic Risk Board) and a credible permanent crisis resolution mechanism.
Amendment 69 #
Proposal for a regulation
Recital 2 b (new)
Recital 2 b (new)
(2b) The improved economic governance framework should also rely on a set of interlinked policies for sustainable growth and jobs, which need to be coherent and mutually reinforcing; To strengthen the Single Market, in particular, Member States should closely cooperate with the Commission to remove persistent obstacles to the free movement of workers, goods, capital and services as part of a comprehensive strategy for growth and jobs.
Amendment 83 #
Proposal for a regulation
Recital 2 c (new)
Recital 2 c (new)
(2c) The European semester for economic policy coordination should play a vital role in implementing the requirement under Article 121(1) TFEU that Member States regard their economic policies as a matter of common concern, and should therefore coordinate them in the interest of greater stability and predictability in the Union as a whole; Stresses that transparency and independent oversight are essential building blocks of an improved economic governance framework; Stresses, in this respect, the need for Council and Commission to involve the European Parliament at the appropriate stages of the economic policy coordination procedures.
Amendment 88 #
Proposal for a regulation
Recital 2 d (new)
Recital 2 d (new)
(2d) The Commission should play a stronger coordination role in the enhanced surveillance procedures, mainly as regards Member-State-specific assessments, monitoring, missions in situ, recommendations and early warnings.
Amendment 98 #
Proposal for a regulation
Recital 3
Recital 3
(3) A comprehensive system of incentives and additional sanctions areis necessary to make the enforcement of budgetary surveillance more effective in the euro area. Those sSanctions should enhance the credibility of the fiscal surveillance framework of the Union, while incentives should motivate Member States prompt compliance in view of getting back the money they had to pay in sanctions in the first instance.
Amendment 108 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) Calls on the Commission to conduct an independent impact assessment on the possibility for the European Financial Stability Facility (EFSF) or the future European Stability Mechanism (ESM) to evolve into a European Monetary Fund drawing on the features and best practices of the International Monetary Fund (IMF) and aimed at preserving the financial stability of the EU as a whole by providing financial assistance under strict conditions to Member States in economic difficulty.
Amendment 155 #
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10a) Revenues from those additional sanctions, namely an interest-bearing deposit amounting to 0.2% of GDP in case of persisting and particularly serious deviations from prudent fiscal policy- making, a non-interest-bearing deposit amounting to 0.2% of GDP upon a Council's decision to place a given Member State in excessive imbalance procedure, and ultimately a fine in the event of non-compliance with the initial recommendation of the Council to correct the deficit, should be credited to an escrow account set up for the given noncompliant Member State, to which the account balance will be given back as soon as Council acting on a proposal by the Commission decides that the needed corrections have been made.
Amendment 164 #
Proposal for a regulation
Recital 12
Recital 12
(12) The non-interest-bearing deposit should be released upon correction of the excessive deficit whiletogether with 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 either.
Amendment 191 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
1. This Regulation sets out a system of incentives and sanctions for enhancing the enforcement of the preventive and corrective parts of the Stability and Growth Pact in the euro area.