BETA

25 Amendments of Mara BIZZOTTO related to 2011/0386(COD)

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Recital 1

(1) The Treaty requires that Member States' regard their economic policies as a matter of common concern ~~and that their budgetary policies are guided by the need for sound public finances and that their economic policies do not risk jeopardising the proper functioning of Economic and Monetary Union~~.

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Recital 3

(3) The amendments to the Stability and Growth Pact increase both the guidance, and, for the Member States whose currency is the euro, incentives for the setting and the implementation of a prudent budgetary policy, while avoiding excessive government deficits. ~~These provisions have created a more robust framework at the level of the Union for the surveillance of national economic policies.~~

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Recital 5

(5) Strong public finances are best ensured at the planning stage and gross errors should be identified as early as possible. Member States shcould benefit ~~not just~~ from the setting of guiding principles and budgetary targets ~~but also from a synchronised monitoring of their budgetary policies~~.

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Recital 6

(6) Setting-up a common budgetary timeline for Member States whose currency is the euro should better synchronize the key steps in the preparation of national budgets, thus contributing to the effectiveness of the European semester for budgetary policy coordination. Adopting a common budgetary timeline should lead to stronger synergies by facilitating policy coordination among Member States whose currency is the euro and ensure that the Council and Commission recommendations are appropriately integrated in the national process for budget adoption.deleted

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Recital 7

(7) There is strong evidence showing the effectiveness of rules-based fiscal frameworks in supporting sound and sustainable fiscal policies. The introduction of national fiscal rules that are consistent with the budgetary objectives set at Union level should be a crucial element to ensure the respect of the Stability and Growth Pact provisions. In particular, Member States should put in place structural balanced budget rules which transpose into national legislation the main principles of the Union fiscal framework. This transposition should be effective through binding rules preferably of a constitutional nature so as to demonstrate the strongest commitment of national authorities in relation to the Stability and Growth Pact.

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Recital 10

(10) As demonstrated by the sovereign debt crisis, and in particular by the need to put in place common financial backstops, Member States whose currency is the euro share enhanced spillovers from their budgetary policy. Each of the Member States whose currency is the euro should consult the Commission and other Member States whose currency is the euro before the adoption of any major fiscal policy reform plans with potential spillover effects, so as to give the possibility for an assessment of possible impact for the euro area as a whole. They should consider their budgetary plans to be of common concern and submit them to the Commission for monitoring purposes in advance of the plans becoming binding. The Commission should be in a position, if necessary, to adopt an opinion on the draft budgetary plan, that the Member State and in particular budgetary authorities should be invited to take into account in the process of the budget law adoption. Such an opinion should ensure that Union's policy guidance in the budgetary area is appropriately integrated in the national budgetary preparations. In particular, this opinion should include an assessment of whether or not the budgetary plans appropriately address the recommendations issued in the context of the European semester in the budgetary area. The Commission should stand ready to present this opinion to the Parliament of the Member State concerned at its request. The extent to which this opinion has been taken into account should be part of the assessment, if and when the conditions are met, leading to the decision to place the concerned Member State in excessive deficit procedure, where no follow-up to the early guidance from the Commission should be considered as an aggravating factor. Also, based on an overall assessment of the plans by the Commission, the Eurogroup should discuss the budgetary situation and prospects for the euro area.deleted

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Recital 11

(11) Member States whose currency is the euro and which are subject to an excessive deficit procedure should be monitored more closely to secure a full and timely correction of the excessive deficit. A closer monitoring should ensure early correction of any deviations from the Council recommendations to correct the excessive deficit. Such monitoring should complement the provisions set out in Regulation (EC) No 1467/97observed more closely. The modalities of this closer monitoring should be graduated depending on the stage of the procedure the Member State is subject to, as provided for in Article 126 of the Treaty.

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Recital 12

(12) The closer ~~monitor~~observing for Member States subject to an excessive deficit procedure should allow the identification of risks in the compliance of a Member State's deadline to correct the excessive deficit. In the event of such risks being identified, the Commission should issue a recommendation to the Member State for measures to be taken within a given timeframe that should be presented to the Parliament of the Member State concerned at its request. This assessment should allow rapid correction of any developments putting at risk the correction of the excessive deficit within the established deadline. Assessment of compliance with this Commission recommendation should be part of the continuous assessment made by the Commission of effective action to correct an excessive deficit. When deciding whether effective action to correct the excessive deficit has been taken, the Council should also base its decision on whether or not the Member State complied with the Commission recommendation.

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 1 – paragraph 1 – point b

(b) complementing the multilateral ~~surveillance~~observation system of budgetary policies as established by Regulation (EC) No 1466/97 with additional ~~monitoring~~ requirements in order to ensure that Union policy recommendations in the budgetary area are appropriately integrated in the national budgetary preparations;

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 3 – paragraph 1

1. Member States shall ~~make public~~define annually their medium-term fiscal plans in accordance with their medium-term budgetary framework based on independent macroeconomic forecast together with their Stability Programmes, no later than 15 April.

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 3 – paragraph 2

~~2. Draft budget laws for the general government shall be made public annually no later than 15 October together with the independent macroeconomic forecasts on which they are based.~~deleted

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 3 – paragraph 3

3. Budget laws for the general government shall be adopted ~~and made public annually no later than 31~~by December.

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 4 – paragraph 2

~~2. Member States shall have in place an independent fiscal council for monitoring the implementation of national fiscal rules as referred to in paragraph 1.~~deleted

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 5 – paragraph 1

~~1. Member States shall submit annually to the Commission and the Eurogroup a draft budgetary plan for the forthcoming year no later than 15 October.~~deleted

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 5 – paragraph 3 – introductory part

3. The draft budgetary plan ~~shall~~can contain the following information for the forthcoming year:

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 5 – paragraph 3 – point b

(b) the projections ~~at unchanged policies~~ for expenditure and revenue as a percentage of GDP for the general government and their main components.;

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 5 – paragraph 3 – point c

(c) the targeted expenditure and revenue as a percentage of GDP for the general government and their main components, taking into account the conditions and criteria to establish the growth path of government expenditure net of discretionary revenue measures under Article 5(1) of Regulation (EC) No 1466/97;deleted

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 5 – paragraph 3 – point d

(d) a ~~detailed~~ description and a well- documented quantification of the measures to be included in the budget for the year to come in order to bridge the gap between the targets referred to in point (c) and the projections at unchanged policies provided in accordance with point (b). The description may be less detailed for measures with a budgetary impact estimated to be lower than 0.1% of GDP. Particular attention shall be paid toof the major fiscal policy reform plans with potential spillover effects for other Member States whose currency is the euro.

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 5 – paragraph 3 – point f

~~(f) where applicable, additional indications on how the current recommendations addressed to the Member State concerned in accordance with Article 121 of the Treaty in the budgetary area will be met.~~deleted

2012/02/22
Committee: EMPL

Proposal for a regulation
Article 5 – paragraph 4

4. Where the ~~budgetary targets reported in the draft budgetary plan in accordance with points (a) and (c) of paragraph 3 or the projections at unchanged policies differ from those in~~draft budgetary plan differs from the guidelines of the most recent stability programme, the differences shall be ~~duly~~ explained.

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 6 – paragraph 3

3. The Commission ~~shall~~may make an overall assessment of the budgetary situation and prospects in the euro area as a whole. The assessment shall be made public.

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 6 – paragraph 4

4. The Eurogroup ~~shall~~may discuss opinions of the Commission on the national budgetary plans and the budgetary situation and prospects in the euro area as a whole on the basis of the overall assessment made by the Commission in accordance with paragraph 3. The assessment shall be made public.

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 7 – paragraph 1

1. When the Council decides in accordance with Article 126(6) of the Treaty that an excessive deficit exists in a Member State, the Member State concerned shall be subject to paragraphs 2 to 5 of this Article, until the abrogation of its excessive deficit procedure.deleted

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 7 – paragraph 6 – point a

(a) carry out and report on a comprehensive independent audit of the accounts of the general government conducted in coordination with national supreme audit institutions, aiming at assessing the reliability, completeness and accuracy of these public accounts for the purposes of the excessive defiocit procedure. In this context, the Commission (Eurostat) shall assess the quality of data reported by the Member State concerned in accordance with Regulation (EC) No 679/20103 ;deleted

2012/02/22
Committee: EMPL

Mara BIZZOTTO, Mario BORGHEZIO

Proposal for a regulation
Article 12 – paragraph 1

~~1. This Regulation shall apply to the Member States that are already subject to an excessive deficit procedure at the time of the entry into force of this Regulation.~~deleted

2012/02/22
Committee: EMPL