Activities of Alfredo PALLONE related to 2010/0280(COD)
Plenary speeches (7)
Explanations of vote
Explanations of vote
Explanations of vote
Explanations of vote
Explanations of vote
Explanations of vote
Explanations of vote
Amendments (19)
Amendment 73 #
Proposal for a regulation
Citation 2 a (new)
Citation 2 a (new)
- having regard to the opinion of the European Central Bank,
Amendment 139 #
Proposal for a regulation
Recital 7
Recital 7
(7) The obligation to achieve and maintain the medium-term budgetary objective needs to be put into operation, through the specification of principles of prudent fiscal policy-makingfor the adjustment path towards the medium-term objective.
Amendment 189 #
Proposal for a regulation
Recital 12
Recital 12
(12) In order to ensure compliance with the fiscal surveillance framework of the Union for participating Member States, a specific enforcement mechanism should be established on the basis of Article 136 of the Treaty for cases where aof persistent and significant deviation from prudent fiscal policy making prevailsthe adjustment path towards the medium-term objective.
Amendment 231 #
Proposal for a regulation – amending act
Article 1 –point 1 e (new)
Article 1 –point 1 e (new)
Regulation (EC) No 1466/97
Section 1A b (new)
Section 1A b (new)
Amendment 241 #
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint i
Article 1 – point 2 – subpoint b – subpoint i
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point a
Article 3 – paragraph 2 – point a
(a) the medium-term budgetary objective and the adjustment path towards this objective for the general government balance as a percentage of GDP, the expected path of the general government debt ratio, the planned growth path of government expenditure, in particular bearing in mind the conditions and criteria to establish the expenditure growth under Article 5(1), the planned growth path of government revenue at unchanged policy and a quantification of the planned discretionary revenue measures;
Amendment 269 #
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint c
Article 1 – point 2 – subpoint c
Regulation (EC) No 1466/97
Article 3 – paragraph 3
Article 3 – paragraph 3
3. The information about the paths for the general government balance and debt ratio, the growth of government expenditure, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures, appropriately quantified, and the main economic assumptions referred to in paragraph 2(a) and (b) shall be on an annual basis and shall cover, the preceding year, the current year and at least the following three years.
Amendment 280 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 2
Article 5 – paragraph 1 – subparagraph 2
The Council and the Commission, when assessing the adjustment path toward the medium-term budgetary objective, shall examine if the Member State concerned pursues an appropriate annual improvement of its cyclically-adjusted budget balance, net of one-off and other temporary measures, required to meet its medium-term budgetary objective, with 0.5% of GDP as a benchmark. For Member States with a high level of debt, high debt of the private sectors, significant contingent and/or implicit liabilities or excessive macroeconomic imbalances or both, the Council and the Commission shall examine whether the annual improvement of the cyclically-adjusted budget balance, net of one-off and other temporary measures is higher than 0.5% of GDP. The Council shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort may be more limited in economic bad times.
Amendment 292 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 3
Article 5 – paragraph 1 – subparagraph 3
With a view to ensuring that the medium- term budgetary objective is effectively achieved and maintained, the Council and the Commission shall verify thatif the growth path of government expenditure, taken in conjunction with the effect of measures being taken or planned on the revenue side, is consistent with prudent fiscal policy-making. the adjustment path towards the MTO.
Amendment 304 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4 – point a
Article 5 – paragraph 1 – subparagraph 4 – point a
(a) for Member States that have achieved the medium-term budgetary objective, annual expenditure growth does not exceed a prudentreference medium-term rate of potential GDP growth, unless the excess is matched by discretionary revenue measures;
Amendment 312 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4 – point b
Article 5 – paragraph 1 – subparagraph 4 – point b
(b) for Member States that have not yet reached their medium-term budgetary objective, annual expenditure growth does not exceed a rate below a prudentreference medium- term rate of potential GDP growth, unless the excess is matched by discretionary revenue measures. The size of the shortfall of the growth rate of government expenditure compared to a prudentreference medium-term rate of potential GDP growth is set in such a way as to ensure an appropriate adjustment towards the medium-term budgetary objective;
Amendment 343 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 7
Article 5 – paragraph 1 – subparagraph 7
Amendment 371 #
Proposal for a regulation – amending act
Article 1 – point 5
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 1
Article 6 – paragraph 1
1. As part of multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall monitor the implementation of stability programmes, on the basis of information provided by participating Member States and of assessments by the Commission and the Economic and Financial Committee, in particular with a view to identifying actual or expected significant divergences of the budgetary position from the medium-term budgetary objective, or from the appropriate adjustment path towards it ensuing from deviations from prudent fiscal-policy making.
Amendment 391 #
Proposal for a regulation – amending act
Article 1 – point 5
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – subparagraph 2
Article 6 – paragraph 2 – subparagraph 2
A deviation from prudent fiscal policy makingthe medium term objective shall be considered significant if the following conditions occur: an excess over the expenditure growth is not consistent with prudent fiscal policy-makingthe adjustment path towards the medium term objective, not offset by discretionary revenue-increasing measures; or discretionary revenue- decreasing measures not offset by reductions in expenditure; and the deviation has a total impact on the government balance of at least 0.5 % of GDP in one single year or of at least 0.25 % of GDP on average per year in two consecutive years.
Amendment 435 #
Proposal for a regulation – amending act
Article 1 – point 6 – subpoint c
Article 1 – point 6 – subpoint c
Regulation (EC) No 1466/97
Article 7 – paragraph 3
Article 7 – paragraph 3
3. The information about the paths for the general government balance and debt ratio, the growth of government expenditure, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures, appropriately quantified, and the main economic assumptions referred to in paragraph 2(a) and (b) shall be on an annual basis and shall cover the preceding year, the current year and at least the following three years.
Amendment 448 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 2
Article 9 – paragraph 1 – subparagraph 2
The Council and the Commission, when assessing the adjustment path toward the medium-term budgetary objective, shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort may be more limited in economic bad times. For Member States with a high level of debt, high debt of the private sectors, significant contingent and/or implicit liabilities or excessive macroeconomic imbalances or both, the Council and the Commission shall examine whether the annual improvement of the cyclically- adjusted budget balance, net of one-off and other temporary measures is higher than 0.5% of GDP. For ERM2 Member States, the Council and the Commission shall examine if the Member State concerned pursues an appropriate annual improvement of its cyclically adjusted balance, net of one-off and other temporary measures, required to meet its medium- term budgetary objective, with 0.5% of GDP as a benchmark.
Amendment 457 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 3
Article 9 – paragraph 1 – subparagraph 3
With a view to ensuring that the medium- term budgetary objective is effectively achieved and maintained, the Council and the Commission shall verify thatwhether the growth path of government expenditure, taken in conjunction with the effect of the measures being taken or proposed on the revenue side, is consistent with prudent fiscal-policy making. the adjustment path towards the medium term objective.
Amendment 469 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 4 – point a
Article 9 – paragraph 1 – subparagraph 4 – point a
(a) for Member States that have achieved the medium-term budgetary objective, annual expenditure growth does not exceed a prudentreference medium-term rate of potential GDP growth, unless the excess is matched by discretionary revenue measures;
Amendment 501 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 7
Article 9 – paragraph 1 – subparagraph 7
Amendment 521 #
Proposal for a regulation – amending act
Article 1 – point 9
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 1 – first subparagraph
Article 10 – paragraph 1 – first subparagraph
As part of multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall monitor the implementation of convergence programmes, on the basis of information provided by Member States with a derogation and of assessments by the Commission and the Economic and Financial Committee, in particular with a view to identifying actual or expected significant divergences of the budgetary position from the medium-term budgetary objective, or from the appropriate adjustment path towards it, ensuing from deviations from prudent fiscal-policy making.