10 Amendments of Derk Jan EPPINK related to 2011/0385(COD)
Amendment 88 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
1. This Regulation sets out provisions for strengthening the economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability and/orwith potential negative spill-over effects on other Member States and/or Member States that receive or may receive financial assistance from one or several other States, the European Financial Stability Facility (EFSF), the European Financial Stability Mechanism (EFSM), the European Stability Mechanism (ESM) or other International Financial Institutions (IFI), such as the International Monetary Fund (IMF).
Amendment 100 #
Proposal for a regulation
Article 2 – paragraph 1
Article 2 – paragraph 1
1. The Commission may decide to make a Member State experiencing severerious difficulties with regard to its financial stability with potential negative spill-over effects on other Member States subject 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 surveillance.
Amendment 140 #
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, 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 programme. The Council may decide to make this recommendation publicis recommendation shall be made public unless the Council decides otherwise.
Amendment 150 #
Proposal for a regulation
Article 3 – paragraph 6 – point a
Article 3 – paragraph 6 – point a
(a) the relevacompetent Ccommittee(s) of the European Parliament may invite representatives of the Member State concerned to participate to an exchange of views;
Amendment 153 #
Proposal for a regulation
Article 3 – paragraph 6 – point b
Article 3 – paragraph 6 – point b
(b) representatives of the Commission may be invited byAt the request of the parliament of the Member State concerned, representatives of the Commission shall present and justify the Commission recommendation to the parliament of the Member State concerned toand participate to an exchange of views.
Amendment 170 #
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. A Member State receiving financial assistance from one or several other States, the IMF, the EFSF or the ESM shall prepare in agreementcooperation with the Commission - acting in liaison with the ECB - a draft adjustment programme aimed at re- establishing a sound and sustainable economic and financial situation and restoring its capacity to finance itself fully on the financial markets. The draft adjustment programme shall take due account of the current recommendations addressed to the Member State concerned under Articles 121, 126 and/or 148 of the Treaty- and its actions to comply with them - while aiming at broadening, strengthening and deepening the required policy measures.
Amendment 180 #
Proposal for a regulation
Article 6 – paragraph 2 a (new)
Article 6 – paragraph 2 a (new)
2a. There should be consistency in the process of economic and fiscal surveillance with respect to a euro area country under macroeconomic adjustment programme to avoid a duplication of reporting obligations.
Amendment 202 #
Proposal for a regulation
Article 6 – paragraph 7
Article 6 – paragraph 7
7. The relevacompetent Ccommittee(s) of the European Parliament may invite representatives of the Member State concerned to participate to an exchange of views on the progress made in the implementation of the adjustment programme.
Amendment 204 #
Proposal for a regulation
Article 6 – paragraph 8
Article 6 – paragraph 8
8. Representatives of the Commission may be invited byAt the request of the Parliament of the Member State concerned to, representatives of the Commission should participate to an exchange of views on the progress made in the implementation of the adjustment programme.
Amendment 229 #
Proposal for a regulation
Article 10 a (new)
Article 10 a (new)
Article 10a Withdrawal from the euro area Where a Member State whose currency is the euro is unwilling to surrender its budgetary sovereignty, it shall be given the option of leaving the euro area. The Commission and the Eurogroup - acting in liaison with the ECB - shall assist the Member State concerned with practical steps to make a withdrawal from the euro area feasible and as smooth as possible.