Activities of Luděk NIEDERMAYER
Plenary speeches (3)
The future of European competitiveness (debate)
Preparation of the European Council of 17-18 October 2024 (debate)
Topical debate (Rule 169) - Taxing the super-rich to end poverty and reduce inequalities: EU support to the G20 Presidency’s proposal (topical debate)
Institutional motions (12)
MOTION FOR A RESOLUTION the case of José Daniel Ferrer García in Cuba
MOTION FOR A RESOLUTION The severe situation of political prisoners in Belarus
MOTION FOR A RESOLUTION The deteriorating situation of women in Afghanistan due to the recent adoption of the law on the “Promotion of Virtue and Prevention of Vice”
MOTION FOR A RESOLUTION on the devastating floods in central and eastern Europe, the loss of lives and the EU’s preparedness to act on such disasters exacerbated by climate change
JOINT MOTION FOR A RESOLUTION on the severe situation of political prisoners in Belarus
JOINT MOTION FOR A RESOLUTION on the deteriorating situation of women in Afghanistan due to the recent adoption of the law on the “Promotion of Virtue and Prevention of Vice”
MOTION FOR A RESOLUTION on the cases of unjustly imprisoned Uyghurs in China, notably Ilham Tohti and Gulshan Abbas
MOTION FOR A RESOLUTION the case of Bülent Mumay in Türkiye
MOTION FOR A RESOLUTION Iraq, notably the situation of women’s rights and the recent proposal to amend the Personal Status Law
JOINT MOTION FOR A RESOLUTION on the cases of unjustly imprisoned Uyghurs in China, notably Ilham Tohti and Gulshan Abbas
JOINT MOTION FOR A RESOLUTION on the case of Bülent Mumay in Türkiye
JOINT MOTION FOR A RESOLUTION on Iraq, notably the situation of women’s rights and the recent proposal to amend the Personal Status Law
Written explanations (8)
Objection pursuant to Rule 115(2) and (3), and (4)(c): Maximum residue levels for carbendazim and thiophanate‐methyl
Objection pursuant to Rule 115(2) and (3), and (4)(c): Maximum residue levels for cyproconazole
EU/USA Agreement on launch of Galileo satellites from U.S. territory
Podpořil jsem tuto dohodu. Spoléhám na analýzu a úsudek Komise, že k zajištění řádného fungování systému Galileo jsou třeba kompatibilní nosné rakety, které aktuálně poskytují pouze výrobci ve Spojených státech. S ohledem na zajištění bezpečnosti informací obsažených v družicích Galileo je proto nezbytná právně závazná dohoda se Spojenými státy, aby byla chráněna integrita družic Galileo na území Spojených států a důvěrnost utajovaných informací EU, které nelze zpřístupnit Spojeným státům a které jsou obsaženy v satelitech nebo souvisí s vypuštěním satelitů.
Continued financial and military support to Ukraine by EU Member States
Podpořil jsem toto usnesení, které vyzývá všechny členské státy, aby nesnižovaly, ale naopak zvýšily své finanční prostředky pro Ukrajinu, a vyjadřuje přesvědčení, že Rusko musí poskytnout finanční náhradu za obrovské škody, které na Ukrajině způsobilo. Vítám v této souvislosti rozhodnutí Rady směrovat mimořádné příjmy plynoucí z imobilizovaných ruských státních aktiv do Fondu pomoci Ukrajině a Nástroje pro Ukrajinu i rozhodnutí skupiny G7 nabídnout Ukrajině úvěr ve výši 50 miliard USD zajištěný imobilizovanými ruskými státními prostředky. Jsem přesvědčen, že EU by společně s členskými státy měla dle potřeby upravit právní předpisy týkající se sankcí a vytvořit řádný právní režim, jenž umožní konfiskaci ruského státního majetku zmrazeného Evropskou unií.
Situation in Venezuela
Podpořil jsem toto usnesení, které vyzývá EU a její členské státy, aby učinily vše, co je v jejich silách, pro zajištění toho, aby se legitimní a demokraticky zvolený prezident Edmund González Urrutia mohl dne 10. ledna 2025 v souladu s venezuelskou ústavou ujmout funkce, a důrazně odsuzuje a zcela odmítá volební podvody organizované režimem kontrolovaným Nejvyšším volebním úřadem, který navzdory opakovaným výzvám mezinárodního společenství odmítl zveřejnit oficiální výsledek v podobě archů pro sčítání hlasů ze všech volebních místností.
Devastating floods in Central-Eastern Europe, loss of lives and EU preparedness to act on such disasters
Podpořil jsem toto usnesení, které v souvislosti s ničivými povodněmi vyzývá k aktivaci mechanismů, jako je Fond solidarity EU (EUSF), a současně se domnívá, že rozpočet EUSF by měl odpovídat rostoucímu počtu a závažnosti přírodních katastrof po celé Evropě a že by Komise měla navýšit rozpočet rezervy evropské solidarity (ESR). Jsem také přesvědčen, že výrazné navýšení zálohových plateb z EUSF by členským státům umožnilo účinněji a rychleji reagovat na katastrofy, zejména v méně rozvinutých regionech, kde je nutná okamžitá pomoc. Komise by proto měla prozkoumat všechny možné způsoby, jak urychlit uvolnění prostředků z EUSF, zejména změnou stávajících pravidel, a zvážit poskytnutí vyšších zálohových plateb žádajícím zemím.
Establishing the Ukraine Loan Cooperation Mechanism and providing exceptional macro-financial assistance to Ukraine
Podpořil jsem zřízení mechanismu úvěrové spolupráce pro Ukrajinu, který jí umožní obsluhovat a splácet půjčky až do výše 45 miliard EU, přičemž ke splácení půjček budou využity neočekávané zisky ze zmrazených ruských aktiv. Součástí schváleného návrhu je také makrofinanční pomoc obsahující částky až 35 miliard EUR, která bude určena na podporu okamžitých finančních potřeb Ukrajiny. Pomoc bude poskytována předvídatelným způsobem, dlouhodobě a včas. Za důležitý parametr této makrofinanční pomoci považuji to, že Ukrajina nebude muset půjčky splácet přímo, protože splátky budou pokryty zmíněnými neočekávanými zisky plynoucími z úroků ze zmrazených ruských aktiv. Rovněž platí, že podmínky půjčky budou sladěny s podmínkami platnými v rámci Nástroje pro Ukrajinu.
Discharge 2022: EU general budget – European Council and Council
Podpořil jsem rozhodnutí odmítající udělit absolutorium Evropské radě a Radě na rozpočtový rok 2022, protože Rada už více než deset let prokazuje, že nemá žádnou politickou vůli s EP na každoročním postupu udělování absolutoria spolupracovat. Jsem přesvědčen, že tento přístup má dlouhodobý negativní dopad na oba orgány a znevěrohodňuje správu a demokratickou kontrolu rozpočtu Unie, což narušuje důvěru občanů v Unii jako transparentní subjekt. Rada by měla sama dodržovat stejné standardy odpovědnosti, jaké očekává od ostatních orgánů Unie.
Amendments (841)
Amendment 330 #
2023/0138(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
(2) ‘net expenditure’ means all government expenditure net of interest expenditure, discretionary revenue measures and other budgetary variables outside the control of the government as set out in Annex II, point (a);, cyclical unemployment and related social expenditures and expenditure on EU programmes fully matched by EU funds revenue.
Amendment 376 #
2023/0138(COD)
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
In order to ensure closer coordination of economic, budgetary and structural policies and sustained convergence of the economic and social performance of the Member States, the Council and the Commission shall conduct multilateral surveillance within the European Semester in accordance with the objectives and requirements set out in the TFEU. Multilateral surveillance shall rely on high quality and independent statistics, produced in accordance with the principles laid down in Regulation (EC) No 223/2009 of the European Parliament and of the Council.
Amendment 424 #
2023/0138(COD)
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
For each Member State having a public debt above the 60% of GDP reference value or a government deficit above the 3% of GDP reference value, the Commission shall put forward, in a report to the Economic and Financial Committee, a technical trajectory for net expenditure covering a minimum adjustment period of 4 years of the national medium-term fiscal- structural plan, and its possible extension by a maximum of 3 years pursuant to Article 13. The Commission shall make the report public. The technical trajectory shall be set in levels of net expenditure based on the methodology or model of calculation, which is publicly available. The Commission shall make the report public. At the same time as the publication of the report, the Commission shall also make all data, assumptions and calculations underlying the technical trajectory for any Member State public in a way that allows for replication.
Amendment 437 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point a
Article 6 – paragraph 1 – point a
(a) by the publicend of the adjustment period, at the latest, the 10-year debt tratio is put or remainjectory in the absence of further budgetary measures is on a plausibly downward path, or stays at pru, in the Member States with denbt levels below 60% of GDP, it stays below 60% of GDP;
Amendment 446 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point b
Article 6 – paragraph 1 – point b
(b) the government deficit is maintained or brought and maintained sufficiently below the 3% of GDP reference valuin the absence of further budgetary measures over the same 10-year period, in order to create a buffer to the 3% reference value that allows to cover for unforeseen costs as well as fluctuations in interest expenditure. The size of the buffer must reflect the financial and fiscal risks of a Member State;
Amendment 453 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point b a (new)
Article 6 – paragraph 1 – point b a (new)
(b a) for the years that the Member State concerned is expected to have a deficit above the 3% of GDP reference value, and the deficit is not close to reference value and is not temporary, the technical trajectory is also consistent with the benchmark referred to under Article 3 of Regulation (EC) No 1467/97 as amended by Regulation (EU) [on the corrective arm];
Amendment 464 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point c
Article 6 – paragraph 1 – point c
(c) the fiscal adjustment effort over the period of the national medium-term fiscal- structural plan is at least proportional to the total effort over the entire adjustment period; in cases where it is not proportional, detailed plans for compensation of lower than proportional effort should be presented by the member state, in line with Article 11(2);
Amendment 476 #
2023/0138(COD)
Proposal for a regulation
Article 6 – paragraph 1 – point d
Article 6 – paragraph 1 – point d
(d) the public debt ratio at the end of the planning horizon is belowFor countries with deficit level in excess of the reference value, the deviation from public debt ratio where the reference value of 60% at the end of the planning horizon is significantly smaller than the deviation of the public debt ratio in the year before the start of the technical trajectory; and
Amendment 619 #
2023/0138(COD)
Proposal for a regulation
Article 11 – paragraph 2
Article 11 – paragraph 2
2. Where the national-medium-term fiscal-structural plan includes a temporarily higher net expenditure trajectory than in the technical trajectory issued by the Commission pursuant to Article 5, the Member State shall provide in its plan sound and verifiable economic arguments explaining the differenceprojections and assessments of the economic and fiscal situation, based on and backed by data, explaining the difference and a credible time path to compensate the deviation and return to the technical trajectory issued by the Commission. The explanation and justification need to be accompanied by an independent evaluation of the respective national IFI and the EFB.
Amendment 714 #
2023/0138(COD)
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point ii
Article 13 – paragraph 2 – subparagraph 2 – point ii
(ii) supportimprove fiscal sustainability, where necessary;
Amendment 720 #
2023/0138(COD)
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point iii
Article 13 – paragraph 2 – subparagraph 2 – point iii
Amendment 769 #
2023/0138(COD)
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
1. A Member State may request no later than 12 months before the end of the current national medium-term fiscal- structural plan to submit a revised national medium-term fiscal-structural plan to the Commission before the end of its adjustment period if there are objective circumstances outside the control of the Member State preventing the implementation of the original national medium-term fiscal- structural plan or if the submission of a newrevised national medium- term fiscal-structural plan is requested by a new government.
Amendment 805 #
2023/0138(COD)
Proposal for a regulation
Article 15 – paragraph 2 – point a
Article 15 – paragraph 2 – point a
(a) whether the national medium-term fiscal-structural plan ensures that public debt is put or kept on a plausibly downward path by the end of the adjustment period at the latest, or stays at pru, in the Member States with denbt levels below 60%, it stays below the reference value;
Amendment 841 #
2023/0138(COD)
Proposal for a regulation
Article 15 – paragraph 2 – point e
Article 15 – paragraph 2 – point e
(e) whether for the years that the Member State concerned is expected to have a deficit above the 3% of GDP reference value, and the excess is not close and temporary, the fiscal adjustment is consistent with the benchmark adjustment of at least 0.5% of GDP in the structural primary balance referred to under Article 3 of Council Regulation (EC) No 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure as amended by Regulation [X]; and
Amendment 882 #
2023/0138(COD)
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
The Council, on a recommendation from the Commission, shall adopt a recommendation setting the net expenditure path of the Member State concerned and, if applicable, endorsing the set of reform and investment commitments underpinning an extension of the adjustment period included in its national medium-term fiscal-structural plan within four weeks of the adoption of the Commission recommendation as a rule. The Commission recommendation shall be accompanied by an evaluation of the EFB and the national independent fiscal institution regarding the fulfilment of the criteria in Article 15 and the assumptions used in the reference trajectory.
Amendment 915 #
2023/0138(COD)
Proposal for a regulation
Article 19 a (new)
Article 19 a (new)
Amendment 935 #
2023/0138(COD)
Proposal for a regulation
Article 21 – paragraph 2
Article 21 – paragraph 2
The Commission shall set up a control account, functioning in accordance with Annex IVmonitor the implementation of the national medium- term fiscal-structural plan, and in particular, the net expenditure path and the reforms and investments underpinning the adjustment period. The Commission shall set up a control account, and shall keep track of cumulative upward (debit) and downward (credit) deviations of actual net expenditures from the net expenditure path, since the establishment of the control account, until the Member State has completed its adjustment. The cumulated balance of the control account in a given/selected period is the sum of the yearly debits and credits registered during that period. The data on the control account shall be publicly available. The Commission shall prepare a report under Article 126(3) TFEU, in case the balance of the control account exceeds 2% of GDP. The Commission shall inform the European Parliament about its conclusions in the report.
Amendment 964 #
2023/0138(COD)
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
1. In the event of a significant or sustained risk of deviation from the net expenditure path as monitored by the control account or a risk that the government deficit may exceed the 3% of GDP reference value, the Commission may address a warning to the Member State concerned in accordance with Article 121(4) TFEU. In case the value of the control account is higher than 2% of GDP and is not expected to fall below this level within one year, the Member State shall be deemed not to be in compliance of its net expenditure path.
Amendment 977 #
2023/0138(COD)
Proposal for a regulation
Article 24 – paragraph 1
Article 24 – paragraph 1
On a recommendation from the Commission, the Council may adopt a recommendation allowing Member States to deviate from their net expenditure path, in the event of a severe economic downturn in the eEuro area or the Union as a whole, provided it does not endanger fiscal sustainability in the medium term. The Council shall specify a time-limit for such deviatas well as a maximum to the size of the deviation per Member State which would not lead to a breach of medium-term fiscal sustainability. Conditions set out in Article 23, paragraph 1, are not affected by this decision.
Amendment 995 #
2023/0138(COD)
Proposal for a regulation
Article 25 – paragraph 1
Article 25 – paragraph 1
On a recommendation from the Commission, the Council may adopt a recommendation allowing a Member State to deviate from its net expenditure path where exceptional circumstances outside the control of the Member State lead to a major impact on the public finances of the Member State concerned, provided it does not endanger fiscal sustainability in the medium term. The Council shall specify a time-limit for such a deviatas well as a maximum to the size of the deviation per Member States which would not lead to a breach of medium-term fiscal sustainability. Conditions set out in Article 23 paragraph 1, are not affected by this decision.
Amendment 1032 #
2023/0138(COD)
Proposal for a regulation
Article 30 – paragraph 2
Article 30 – paragraph 2
2. In that case, the Member State for which an excessive imbalance procedure is opened in accordance with Article 7(2) of Regulation (EU) No 1176/2011, it shall submit a revised plan in accordance with Article 14 of this Regulation. The revised plan shall follow the Council recommendation adopted in accordance with Article 7(2) of Regulation (EU) No 1176/2011. The submission of the revised plan shall be subject to the endorsement by the Council in accordance with Articles 16 to 19 of this Regulation. The revised plan shall be assessed in accordance with Article 15 of this Regulation. When the Commission decides against opening an excessive imbalance procedure under Article 7 (2) of Regulation (EU) No 1176/2011 in cases where it considers that the Member State concerned is affected by excessive imbalances on the basis of the in-depth review referred to in Article 5 of that Regulation, it shall clearly, duly and publicly explain its position and reasoning based on codified criteria and in line with the model referred to in Article 5, paragraph 1.
Amendment 84 #
2023/0115(COD)
Proposal for a directive
Recital 1 a (new)
Recital 1 a (new)
(1a) The target levels of the resolution financing arrangements and the DGSs were determined in 2014 to withstand severe adverse shocks to the banking system given the loss absorption capacity of the system at the time. As a result of the reforms undertaken since 2014, the loss absorption capacity of European banks has significantly improved, with the increase of capital and liquidity ratios, the build-up of high MREL buffers, and the halving of the level of non-performing loans. As a result, the same target level of the various funds now enables to withstand a much more severe economic shocks.
Amendment 103 #
2023/0115(COD)
Proposal for a directive
Recital 18
Recital 18
(18) Pursuant to Article 10(2) of Directive 2014/49/EU, Member States are to ensure that by 3 July 2024, the available financial means of a DGS reach a target level of 0,8 % of the amount of the covered deposits of its members. TIn order to objectively assess whether DGSs fulfil that requirement, a clear reference period should be set to determine the amount of covered deposits and DGSs’ available financial means.
Amendment 108 #
2023/0115(COD)
Proposal for a directive
Recital 22
Recital 22
(22) It is necessary to enhance depositor protection, while avoiding the need for a fire sale of the assets of a DGS and limiting possible negative pro-cyclical effects over the banking industry caused by the collection of extraordinary contributions. DGSs should therefore be allowed to use alternative funding arrangements that enable them to obtain at any time short- term funding from sources other than contributions, including before using their available financial means and funds collected through extraordinary contributions. Because credit institutions should primarily bear the cost and responsibility for financing DGSs, alternative funding arrangements from public funds should only be used as a last resortin extraordinary cases of systemic nature.
Amendment 115 #
2023/0115(COD)
Proposal for a directive
Recital 24 a (new)
Recital 24 a (new)
(24a) It is essential that any involvement of the DGS in any scenario must be conducted with a stringent focus on cost- effectiveness and transparency. This approach is essential to avoid distorting the level playing field and ensuring that it does not confer unfair advantages to specific market participants. Transparency and cost-efficiency are fundamental principles that underpin the integrity and equitable functioning of the DGS.
Amendment 121 #
2023/0115(COD)
Proposal for a directive
Recital 28
Recital 28
(28) To avoid detrimental effects on competition and on the internal market, it is necessary to lay down that in the case of alternative measures in insolvency, relevant bodies representing a credit institution in the context of national insolvency proceedings (liquidator, receiver, administrator or other) should make arrangements for the marketing of the business of the credit institution or part of it in an open, transparent and non- discriminatory process, while aiming to maximise, as far as possible, the sale price. The credit institution or any intermediary acting on behalf of the credit institution should apply rules that are adequate for the marketing of assets, rights and liabilities that are to be transferred to potential purchasers. In any event, the use of State resources should remain subject to the relevant State aid rules under the Treaty, where applicable. State resources should only be used in extraordinary circumstances when an event occurs of a systemic nature or pertaining to very large economic turmoil, as it imposes a significant burden on public finances and disrupts the level playing field in the internal market.
Amendment 129 #
2023/0115(COD)
Proposal for a directive
Recital 37
Recital 37
(37) The merger of a credit institution or the conversion of subsidiary into branch or vice versa might affect the key features of depositor protection. To avoid adverse impacts on depositors that would have deposits in both merging banks and whose claim to deposit coverage would be reduced because of changes to DGS affiliation, all depositors should be informed about such changes and. Depositors should have the right to withdraw their funds without incurring a penalty up to an amount equal to the lost coverage of deposits.
Amendment 162 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 6 – point b
Article 1 – paragraph 1 – point 6 – point b
Directive 2014/49/EU
Article 7 – paragraph 7 – subparagraph 1a (new)
Article 7 – paragraph 7 – subparagraph 1a (new)
In cases where interest rates on certain deposits significantly exceed the prevailing market interest rate, as determined and based on transparent and publicly available data, the DGS shall have the authority to adjust the reimbursed interest to reflect the prevailing market rate at the time of determination or ruling. This adjustment shall be made to prevent moral hazard. The criteria and methodology for defining 'significantly exceed' and for the adjustment, shall be established in a transparent manner, in accordance with guidelines developed by the European Banking Authority (EBA) and subject to the approval of the competent national authority.
Amendment 170 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9
Article 1 – paragraph 1 – point 9
Directive 2014/49/EU
Article 8b – paragraph 3
Article 8b – paragraph 3
3. Member States shall ensure that DGSs repayment of covered deposits is made either to the account holder for the benefit of each client, or to the client directly.
Amendment 182 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 11 – point d
Article 1 – paragraph 1 – point 11 – point d
Directive 2014/49/EU
Article 10 – paragraph 7
Article 10 – paragraph 7
7. Member State shall ensure that DGSs, designated authorities, or competent authorities set the investment strategy for the available financial means of DGSs, and that that investment strategy complies with the principle of diversification and investments in low-risk assets and provides liquidity necessary for a DGS to fulfil its role.;
Amendment 183 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 11 – point e
Article 1 – paragraph 1 – point 11 – point e
Directive 2014/49/EU
Article 10 – paragraph 7a
Article 10 – paragraph 7a
7a. Member States shall ensure that DGSs may place all or part of their available financial means with their national central bank or national treasury, provided that it is a cost effective decision for DGS and those available financial means are kept on a segregated account and that they are readily available for use by the DGS in accordance with Articles 11 and 12.’;
Amendment 187 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 11 – point g
Article 1 – paragraph 1 – point 11 – point g
Directive 2014/49/EU
Article 10 – paragraph 11
Article 10 – paragraph 11
11. Member States shall ensure that in the context of the measures referred to in Article 11(1), (2), (3) and (5), DGSs may use the funds originating from the alternative funding arrangements referred to in Article 10(9) which are not financed through public funds, before using the available financial means and before collecting the extraordinary contributions referred to in Article 10(8). Member States shall ensure that DGSs use alternative funding arrangements financed through public funds only as a last resort and are cost effective.
Amendment 191 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 1
Article 11 – paragraph 1
1. Member States shall ensure that DGSs use the available financial means referred to in Article 10 primarily to repaysecure repayments to depositors in accordance with Article 8 without prejudice to the use of additional financial means collected by DGSs for the fulfilment of mandates other than depositor protection under this Directive.
Amendment 207 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2014/49/EU
Article 11 – paragraph 3 – point b
Article 11 – paragraph 3 – point b
(b) the DGS has confirmed that the cost of the measure does not exceed the cost of repaying depositors as calculated in accordance with Article 11e or any other measure that would be considered equivalent to repaying depositors;
Amendment 223 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 1 – point a
Article 11a – paragraph 1 – point a
(a) the request of a credit institution for the financing of such preventive measures is accompanied by a note committing to a restructuring plan to ensure or restore long-term viability and compliance with the supervisory requirements applicable to the institution concerned in accordance with Directive 2013/36/EU and Regulation (EU) No 575/2013, containing measures as referred to in Article 11b ;
Amendment 230 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 1 – point f
Article 11a – paragraph 1 – point f
(f) the credit institution complies with its obligations under this Directive, has not already been subject to a preventive measure in the last 5 years and has fully reimbursed any other previous preventive measure. extraordinary financial support received in the last 10 years.
Amendment 235 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 1 – point f a (new)
Article 11a – paragraph 1 – point f a (new)
(fa) the measures are confined to solvent institutions or entities, as confirmed by the competent authority;
Amendment 236 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 1 – point f b (new)
Article 11a – paragraph 1 – point f b (new)
(fb) the measures are not used to offset losses that the institution or entity has incurred or is likely to incur in the near future.
Amendment 241 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11a – paragraph 1 – subparagraph 1a (new)
Article 11a – paragraph 1 – subparagraph 1a (new)
1a. For the purposes of the first subparagraph, point (fa), an institution or entity shall be deemed to be solvent where the competent authority has concluded that no breach has occurred, or is likely to occur in the 12 following months, of any of the requirements referred to in Article 92(1) of Regulation (EU) No 575/2013, Article 104a of Directive 2013/36/EU, Article 11(1) of Regulation (EU) 2019/2033, Article 40 of Directive (EU) 2019/2034 or the relevant applicable requirements under Union or national law.
Amendment 253 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11b – paragraph 1
Article 11b – paragraph 1
1. Member States shall ensure that credit institutions which request a DGS to finance preventive measures in accordance with Article 11(3) present to the competent authority for consultation a note with measures that those credit institutions commit to undertake to ensure or restoreapproval a restructuring plan to ensure or restore long-term viability and compliance with the supervisory requirements applicable to the credit institution concerned and that are laid down inin accordance with Directive 2013/36/EU and Regulation (EU) No 575/2013.
Amendment 264 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11b – paragraph 5a (new)
Article 11b – paragraph 5a (new)
5a. It shall be ensured that the deposit guarantee scheme is properly remunerated for the preventive measure and that the beneficiary credit institution, its shareholders, its creditors or the business group to which it belongs, contribute significantly to the restructuring or liquidation costs from their own resources. Preventive measures to support liquidity provision shall be temporary, shall not be used to absorb losses and shall not become capital support. Proper remuneration shall be paid to the deposit guarantee scheme for the preventive measures granted to support liquidity provision.
Amendment 269 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11b – paragraph 6
Article 11b – paragraph 6
Amendment 274 #
2023/0115(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 13
Article 1 – paragraph 1 – point 13
Directive 2014/49/EU
Article 11b – paragraph 6a (new)
Article 11b – paragraph 6a (new)
6a. The competent authority shall have two weeks to approve the restructuring plan. When the competent authority deems the restructuring plan unsatisfactory, the envisaged preventive measure cannot be undertaken.
Amendment 42 #
2023/0112(COD)
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2a) The objective of this Directive is to better safeguard taxpayers’ money and establish mechanisms for addressing situations of potential insolvency of some institutions and entities not covered by the existing resolution framework. That framework is designed to curtail the economic burden on society by reducing the overall costs associated with bank failures. The use of taxpayers’ money should, with the introduction of a new framework, be significantly reduced in order to ensure that the resolution financing arrangement is more often and more effectively used.
Amendment 46 #
2023/0112(COD)
Proposal for a directive
Recital 9
Recital 9
(9) The resolution framework is meant to be applied to potentially any institution or entity, irrespective of its size and business model, if the tools available under national law are not adequate to manage its failure. To ensure such outcome, the criteria to apply the public interest assessment to a failing institution or entity should be specified. In particular, it is necessary to clarify that, depending on the specific circumstances, certain functions of the institution or entity can be considered critical even if their discontinuance would impact financial stability or critical services only at regional level. . To ensure that the assessment of the impact at a regional level can be based on data that is available in a consistent way across the Union, regional level should be understood with reference to the level 1 or the level 2 territorial units of the Nomenclature of territorial units for statistics (NUTS level 1 or 2) within the meaning of Regulation (EC) No 1059/2003 of the European Parliament and of the Council*; * Regulation (EC) No 1059/2003 of the European Parliament and of the Council of 26 May 2003 on the establishment of a common classification of territorial units for statistics (NUTS) (OJ L 154, 21.6.2003, p. 1).
Amendment 66 #
2023/0112(COD)
Proposal for a directive
Recital 11 a (new)
Recital 11 a (new)
(11a) Extraordinary public financial support to institutions and entities provided by Member States from taxpayers’ money or other State resources should be granted, if at all, only in extraordinary circumstances of a systemic nature or pertaining to very large economic turmoil, as it imposes a significant burden on public finances and disrupts the level playing field in the internal market.
Amendment 115 #
2023/0112(COD)
Proposal for a directive
Recital 38
Recital 38
(38) The ranking of all deposits should be fully harmonised through the implementation of a general depositor preference with a singletwo-tiered approach, whereby all deposits benefit from a higher priority ranking over ordinary unsecured claims, without any differentiation between different types of deposits. At the same time, the use of the deposit guarantee schemes in resolution, insolvency and in preventive measures should always remain subject to compliance with the relevant conditionality, in particular the so-called ‘least cost test’.
Amendment 127 #
2023/0112(COD)
Proposal for a directive
Recital 40 a (new)
Recital 40 a (new)
(40a) The two-tier priority system, as reflected in the amendments in this Directive to Article 108 of Directive 2014/59/EU, ensures that deposits excluded from coverage under Directive 2014/49/EU, as well as certain deposits of large corporates that are used for compliance with MREL, enjoy a higher priority ranking compared to ordinary unsecured creditors, but one that is lower than covered deposits, eligible deposits of natural persons and SMEs exceeding the coverage level, deposits of large corporates that do not count towards MREL, as well as claims by the DGS subrogating for covered deposits. That tiered approach is designed to provide enhanced protection for a wide range of depositors, reflecting the unique characteristics of their deposits, while opening up the possibility of resolution to entities not covered by the current framework.
Amendment 149 #
2023/0112(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 1 – point b
Article 1 – paragraph 1 – point 1 – point b
Directive 2014/59/EU
Article 2 – paragraph 1 – point 35
Article 2 – paragraph 1 – point 35
(35) ‘critical functions’ means activities, services or operations the discontinuance of which is likely in one or more Member States to lead to the disruption of services that are essential to the real economy or to disrupt financial stability at national level, or regional level on a significant scale, due to the size, market share, external and internal interconnectedness, complexity or cross- border activities of an institution or group, with particular regard to the substitutability of those activities, services or operations;;. For the purposes of this point, the regional level shall be assessed with reference to the territorial unit corresponding to level 1 or level 2 territorial units of the Nomenclature of territorial units for statistics (NUTS level 1 or 2) within the meaning of Regulation (EC) No 1059/2003 of the European Parliament and of the Council*; * Regulation (EC) No 1059/2003 of the European Parliament and of the Council of 26 May 2003 on the establishment of a common classification of territorial units for statistics (NUTS) (OJ L 154, 21.6.2003, p. 1).
Amendment 227 #
2023/0112(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 15
Article 1 – paragraph 1 – point 15
Directive 2014/59/EU
Article 30 a – paragraph 2 – subparagraph 2
Article 30 a – paragraph 2 – subparagraph 2
After having received the notification referred to in the first subparagraph, resolution authorities shall assess, in close cooperation with competent authorities, what constitutes a reasonable timeframe for the purposes of the assessment of the condition referred to in Article 32(1), point (b), taking. Resolution authorities should take into account the speed of the deterioration of the conditions of the institution or entity referred to in Article 1(1), points (b), (c) or (d), the potential impact on the financial system and protection of depositors and client funds, need to implement effectively the resolution strategy and any other relevant considerations. Resolution authorities shall communicate that assessment to competent authorities as early as possible.
Amendment 280 #
2023/0112(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 17 – point c
Article 1 – paragraph 1 – point 17 – point c
Directive 2014/59/EU
Article 32 – paragraph 5 a (new)
Article 32 – paragraph 5 a (new)
5 a. EBA shall contribute to monitoring and promoting the effective and consistent application of the public interest assessment referred to in paragraph 5. By ... [three years after the date of entry into force of this amending Directive], EBA shall provide a report on the scope and application of paragraph 5 across the Union. That report shall be shared with the Commission in order to assess the effectiveness of the measures outlined in paragraph 5 and their impact on the level playing field. Based on the outcomes of the review, proposals or guidelines may be developed with the aim of converging practices and levelling the playing field among Member States.
Amendment 323 #
2023/0112(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 19
Article 1 – paragraph 1 – point 19
Directive 2014/59/EU
Article 32c – paragraph 2 – subparagraph 3 a (new)
Article 32c – paragraph 2 – subparagraph 3 a (new)
The competent authority should make its best efforts to ensure that the quantification is based on the market value of the institution or entity’s assets, liabilities and off-balance sheet items.
Amendment 437 #
2023/0112(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 55 – point a
Article 1 – paragraph 1 – point 55 – point a
Directive 2014/59/EU
Article 108 – paragraph 1 – point a
Article 108 – paragraph 1 – point a
(a) (i) deposits that are excluded from coverage under Article 5 of Directive 2014/49/EU; and (ii) deposits of legal entities that are not micro, small and medium-sized enterprises that qualify as eligible liabilities for the purposes of the requirement referred to in Article 45(1);
Amendment 61 #
2023/0111(COD)
Proposal for a regulation
Recital 2
Recital 2
(2) Several years into its implementation, the Union resolution framework as currently applicable does not deliver as intended with respect to some of those objectives. In particular, while institutions and entities have made significant progress towards resolvability and have dedicated significant resources to that end, in particular through the build-up of the loss absorption and recapitalisation capacity and the filling-up of resolution financing arrangements, the Union resolution framework is seldom resorted to. Failures of certain smaller and medium- sized institutions and entities are instead mostly addressed through unharmonised national measures. Taxpayer money is used rather than resolution financing arrangements. That situation appears to arise from inadequate incentives. Those inadequate incentives result from the interplay of the Union resolution framework with national rules, whereby the broad discretion in the public interest assessment is not always exercised in a way that reflects how the Union resolution framework was intended to apply. At the same time, the Union resolution framework saw little use due to the risks for depositors of deposit-funded institutions to bear losses to ensure that those institutions can access external funding in resolution, in particular in the absence of other bail-inable liabilities. Finally, the fact that there are less stringent rules on access to funding outside resolution than in resolution has discouraged the application of the Union resolution framework in favour of other solutions, which often entail the use of taxpayers’ money instead of the own resources of the institution or entity or industry-funded safety nets. That situation in turn generates risks of fragmentation, risks of suboptimal outcomes in managing institutions and entities’ failures, in particular in the case of smaller and medium-sized institutions and entities, and opportunity costs from unused financial resources. It is therefore necessary to ensure a more effective and coherent application of the Union resolution framework and to ensure that it can be applied whenever that is in the public interest, including for smaller and medium- sized institutions primarily funded through deposits and without sufficient other bail- inable liabilities other than deposits .
Amendment 169 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 15
Article 1 – paragraph 1 – point 15
Regulation (EU) No 806/2014
Article 13 – paragraph 1 – point a – point ii
Article 13 – paragraph 1 – point a – point ii
(ii) the ECB deems that remedial actions other than early intervention measures are inot sufficient to address the problems due inter alia to a rapid and significant deterioration of the financial condition of the entity;
Amendment 172 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 15
Article 1 – paragraph 1 – point 15
The ECB may determine, where there is a rapid deterioration of conditions, adverse circumstances or new information about an entity is obtained, that the condition referred to in the first subparagraph, point (a)(ii), is met without having previously taken other remedial actions, including the exercise of the powers referred to in Article 104 of Directive 2013/36/EU or in Article 16(2) of Regulation (EU) No 1024/2013.
Amendment 173 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 15
Article 1 – paragraph 1 – point 15
Regulation (EU) No 806/2014
Article 13 – paragraph 2 – point c
Article 13 – paragraph 2 – point c
(c) the requirement for the management body of the entity to draw up an action plan, in accordance with the recovery plan where applicable, for negotiation on restructuring of debt with some or all of its creditors;
Amendment 176 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 15
Article 1 – paragraph 1 – point 15
Regulation (EU) No 806/2014
Article 13 – paragraph 3
Article 13 – paragraph 3
3. The ECB shall choose the appropriate and timely early intervention measures based on what is proportionate to the objectives pursued, having regard to the seriousness of the infringement or likely infringement and the speed of the deterioration in the financial situation of the entity, among other relevant information.
Amendment 178 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 15
Article 1 – paragraph 1 – point 15
Regulation (EU) No 806/2014
Article 13 – paragraph 5 – subparagraph 2
Article 13 – paragraph 5 – subparagraph 2
Where a group includes entities established in participating Member States and subsidiaries established, or significant branches located, in non-participating Member States, the ECB shall communicate any decisions or measures referred to in Articles 13 to 13c relevant to the group to the competent authorities or the resolution authorities of the non- participating Member States, as appropriate in a timely manner.;
Amendment 179 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 16
Article 1 – paragraph 1 – point 16
The ECB shall make public the appointment of any temporary administrator, except where the temporary administrator does not have the power to represent or make decisions on behalf of the entity.
Amendment 180 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 16
Article 1 – paragraph 1 – point 16
Regulation (EU) No 806/2014
Article 13b – paragraph 2
Article 13b – paragraph 2
2. The ECB shall specify the powers of the temporary administrator at the time of his or her appointment, based on what is proportionate in the circumstances. Such powers may include some or all of the powers of the management body of the entity, under the statutes of the entity and under national law, including the power to exercise some or all of the administrative functions of the management body of the entity. The powers of the temporary administrator in relation to the entity shall comply with the applicable company law. Such powers may be adjusted upon the change in circumstances by the ECB.
Amendment 181 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 16
Article 1 – paragraph 1 – point 16
Regulation (EU) No 806/2014
Article 13b – paragraph 6
Article 13b – paragraph 6
6. At the request of the ECB, the temporary administrator shall draw up reports on the financial position of the entity and on the acts performed in the course of his or her appointment, at intervals set by the ECB, at least once after the first six months , and in any case at the end of his or her mandate.
Amendment 182 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 16
Article 1 – paragraph 1 – point 16
Regulation (EU) No 806/2014
Article 13b – paragraph 7
Article 13b – paragraph 7
7. The temporary administrator shall be appointed for maximum 1 year. That period may be exceptionally renewed once, if the conditions for appointing the temporary administrator continue to be met. The ECB shall determine those conditions and shall justify any renewal of the appointment of the temporary administrator to the shareholders.
Amendment 185 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 16
Article 1 – paragraph 1 – point 16
Regulation (EU) No 806/2014
Article 13c – paragraph 2 – subparagraph 2
Article 13c – paragraph 2 – subparagraph 2
After having received the notification referred to in the first subparagraph, the Board shall assess, in close cooperation with the ECB or the relevant national competent authority, what constitutes a reasonable timeframe for the purposes of the assessment of the condition referred to in Article 18(1), point (b), taking into account the speed of the deterioration of the conditions of the entity, the potential impact on the financial system and protection of depositors and client funds, the need to implement effectively the resolution strategy and any other relevant considerations. The Board shall communicate that assessment to the ECB or to the relevant national competent authority as early as possible.
Amendment 197 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 17
Article 1 – paragraph 1 – point 17
Regulation (EU) No 806/2014
Article 14 – paragraph 2 – point d
Article 14 – paragraph 2 – point d
(d) to protect depositors while minimising losses for deposit guarantee schemes, by allowing cost-effective involvement of the DGS and to protect investors covered by Directive 97/9/EC;;
Amendment 210 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 19 – point a
Article 1 – paragraph 1 – point 19 – point a
Regulation (EU) No 806/2014
Article 18 – paragraph 2
Article 18 – paragraph 2
2. Without prejudice to cases where the ECB has decided to exercise directly supervisory tasks relating to credit institutions pursuant to Article 6(5), point (b) of Regulation (EU) No 1024/2013, in the event of receipt of a communication pursuant to paragraph 1 in relation to an entity or group as referred to in Article 7(3), the Board shall communicate its assessment as referred to paragraph 1, fourth subparagraph, to the ECB or the relevant national competent authority without any delay and in a timely manner.
Amendment 225 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 19 – point c
Article 1 – paragraph 1 – point 19 – point c
Regulation (EU) No 806/2014
Article 18 – paragraph 5 – subparagraph 2
Article 18 – paragraph 5 – subparagraph 2
When carrying out the assessment referred to in the first subparagraph, the Board, based on the information available to it at the time of that assessment, shall considerevaluate and compare all extraordinary public financial support that can reasonably be expected to be granted to the entity, both in the event of resolution and in the event of winding up in accordance with the applicable national law.’;
Amendment 234 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 18a – paragraph 1 – point a – introductory part
Article 18a – paragraph 1 – point a – introductory part
(a) where, to remedy a serious disturbance in the economy of a Member State of an exceptional or systemic nature or to preserve financial stability, the extraordinary public financial support takes any of the following forms:
Amendment 237 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 18a – paragraph 1 – point b
Article 18a – paragraph 1 – point b
(b) where the extraordinary public financial support takes the form of an cost - effective intervention by a deposit guarantee scheme to preserve the financial soundness and long-term viability of the credit institution in compliance with the conditions set out in Articles 11a and 11b of Directive 2014/49/EU, provided that none or of the circumstances referred to in Article 18(4) are present;
Amendment 238 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 18a – paragraph 1 – point c
Article 18a – paragraph 1 – point c
(c) where the extraordinary public financial support takes the form of an cost - effective intervention by a deposit guarantee scheme in the context of the winding up of an institution pursuant to Article 32b of Directive 2014/59/EU and in accordance with the conditions set out in Article 11(5) of Directive 2014/49/EU;
Amendment 245 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Regulation (EU) No 806/2014
Article 18a – paragraph 2 – subparagraph 2
Article 18a – paragraph 2 – subparagraph 2
For the purposes of the first subparagraph, point (a), an entity shall be deemed to be solvent where the ECB or the relevant national competent authority have concluded that under current economic conditions, no breach has occurred, or is likelyforeseeable to occur in the 12 following months, of any of the requirements referred to in Article 92(1) of Regulation (EU) No 575/2013, Article 104a of Directive 2013/36/EU, Article 11(1) of Regulation (EU) 2019/2033, Article 40 of Directive (EU) 2019/2034 or the relevant applicable requirements under national or Union law.
Amendment 262 #
2023/0111(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 22 – point a
Article 1 – paragraph 1 – point 22 – point a
Regulation (EU) No 806/2014
Article 20 – paragraph 1
Article 20 – paragraph 1
1. Before determining whether the conditions for resolution, or the conditions for write down or conversion of capital instruments and eligible liabilities as referred to in Article 21(1) are met, the Board shall ensure that a fair, prudent and realistic valuation of the assets and liabilities of an entity as referred to in Article 2 is carried out by a person with appropriate expertise that is independent from any public authority, including the Board and the national resolution authority, and from the entity concerned.;’
Amendment 18 #
2022/2146(INI)
Motion for a resolution
Citation 28 a (new)
Citation 28 a (new)
– having regard to the statement of the Organisation for Economic Cooperation and Development (OECD)/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) entitled ‘Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy’, which had been joined and agreed to by 137 out of 141 members as of 4 November 2021
Amendment 40 #
2022/2146(INI)
Motion for a resolution
Recital B a (new)
Recital B a (new)
Ba. Whereas as of the 4 November 2021, 137 out of 141 members of the OECD/G20 Inclusive Framework on BEPS, including all EU Member States, agreed on the reform of the international tax system through a two-pillar solution to address the challenges stemming from the digitalisation of the economy, including placing multilaterally agreed limitations on profit shifting;
Amendment 71 #
2022/2146(INI)
Motion for a resolution
Recital F
Recital F
F. wWhereas tax policy fragmentation creates various obstacles for citizens and companies in the single market, particularly small and medium-sized enterprises (SMEs); including legal uncertainty, red tape, the risk of double taxation and difficulties claiming tax refunds whereas these obstacles discourage cross-border economic activity and can distort the single market;
Amendment 86 #
2022/2146(INI)
Motion for a resolution
Recital G
Recital G
G. wWhereas the debt-equity bias in corporate taxation allows for generous tax deductions on interest payments; whereas equity financing costs cannot be deducted in a similar manner. Whereas there is a structural disadvantage facing companies that rely on equity financing, in particular if they are young and small companies with poor access to credit;
Amendment 108 #
2022/2146(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Recalls that EU Member States cooperating on corporate taxation is not a goal in itself, but rather a tool to complete, improve and further develop the single market; calls on the Commission and the Council to assist our companies to improve the investment climate and make corporate taxation less burdensome, more sustainable and orientated towards improving Europe’s competitiveness;
Amendment 131 #
2022/2146(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. TRecognizes EU’s past actions against aggressive profit shifting in line with international developments at the level of the OECD/G20; takes note of the numerous tax directives since 2011 that have led to fairer, simpler and more effective corporate taxation in the EU, and to a high number of tax compliance obligations on companies within the EU21 ; _________________ 21 See notably the Anti-Tax Avoidance Directives (ATAD I and ATAD II), the amendments of the Directive on administrative cooperation in the field of taxation (DAC 1 to DAC 7), the revision of the Parent Subsidiary Directive, the EU Dispute Settlement Directive, the Public Country-by-Country Reporting Directive, or the Pillar Two Directive.
Amendment 137 #
2022/2146(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Deplores the fact that the Member States have implemented and applied tax directives in a divergent manner, undermining the proper functioning of the single market and leading to misalignment in tax bases, more red tape and higher compliance costs; deplores, in this regard, the observation of the Commission of January 2022 that national tax systems, tax administrations and, in general, differences in the broader public administration of the countries do have an impact on the burden of compliance;
Amendment 141 #
2022/2146(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Takes note of the Council agreement of November 2022 on broadening the scope of the Code of Conduct on Business Taxation;; calls on the Code of Conduct Group on Business to Taxation to make full use of its revised mandate;
Amendment 237 #
2022/2146(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
Amendment 277 #
2022/2146(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Takes note of the Commission proposal of 11 May 2022 addressing the debt-equity bias; deplores the Council decision of 6 December 2022 to suspend the examination of the proposal; calls on the Council to relaunch negotiations on this proposal and adopt the Commission’s proposal with amendments as soon as possible ;
Amendment 34 #
2021/2251(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Highlights that the Recovery and Resilience Facility (RRF) is an unprecedented one-off and limited in time instrument of solidarity and a cornerstone of the NextGenerationEU (NGEU) instrument, ending in 2026, as the main tool in the EU’s response to the COVID-19 pandemic to prepare the economies of the EU to face the new challenges; recalls that the EU response was comprehensive and timely, leading to extensive use of existing instruments and deploying additional financing instruments;
Amendment 53 #
2021/2251(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Welcomes the fact that even if the economic effects of the RRF cannot be fully disentangled from other developments, it seems fair to conclude that, so far, the RRF has had positive effects on gross domestic product (GDP) and that its the effective implementation of the RRF will be a key for the EU’s economic growthpositive impact on the EU GDP; recognises that the RRF has helped to cushion EU economies and citizens from the most acute impacts of the COVID-19 pandemic and is positively contributing to the EU’sEU recovery and resiliencegrowth, including economic cohesion, jobs, productivity,competitiveness, research, development and innovation, and a well- functioning internal market with strong small and medium enterprises (SMEs);
Amendment 58 #
2021/2251(INI)
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Believes that in order for the RRF to attain its objectives and support the EU to bounce back from the crisis, it is imperative that Member States implement thoroughly the agreed reforms and investments; reminds that the RRF is an incentive-based mechanism, whereby funding is disbursed upon completion of milestones and targets related to reforms;
Amendment 68 #
2021/2251(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Points out that a successful implementation of the RRF would lay down the foundations for long term competitive, strategically autonomous, sustainable, inclusive and resilient economies and societies;
Amendment 117 #
2021/2251(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Is concerned, however, that only seven Member States have requested loans amounting to a total of EUR 166 billion out of the EUR 385.8 billion available for loans, leaving a considerable amount available should Member States require loans at a later stage; is preoccupied that the limited interest for the loan component may lead to lost opportunities and prevent the RRF from reaching its full potential; underlines that should Member States, whose NRRPs have been already approved, wish to request loans, it will require amending respective NRRP with the additional set of measures consisting of reforms and investments, without rolling back commitments in the plans already endorsed; encourages Member States to use full potential of the RRF; reminds that a Member State may request loan support at the time of the submission of a recovery and resilience plan or at a different moment in time until 31 August 2023;
Amendment 123 #
2021/2251(INI)
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9 a. Encourages those Member States that did not request loans to the full extent available, to do so and prioritise measures aiming at increasing their energy security and mitigating the economic effects of the crisis generated by the Russian invasion of Ukraine in the European Union.
Amendment 141 #
2021/2251(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Insists that any amendment of the NRRPs shall fully comply with the provisions of the RRF Regulation and supports the Commission’s approach that the mere change of the political situation in Member States does not represent an objective reason for requesting an amendment of the NRRP; reminds Member States that requests for modifications of NRRPs, must comply with the timelines of the Regulation and will likely lead to delays in the implementation of the reforms and investments, will, subsequently, increase the risk of failing to meet agreed targets and milestones and, ultimately, incapacity of using of the entire RRF allocation or losing part of the funding;
Amendment 155 #
2021/2251(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11 a. Believes that in order to demonstrate its added value, the RRF should focus on investments which could not be adequately financed through other funding instruments of the Union or would have difficulty in obtaining the adequate financing;
Amendment 160 #
2021/2251(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Recalls that the RRF Regulation provides for the possibility to include in the NRRPs measures started from 1 February 2020 onwards and that some Member States have made use of this possibility rather extensively; believes that the entire concept of “retroactive reforms” and its extensive use is not in line with the spirit of the RRF objectives; urges the Commission to refrain from approving further “retroactive reforms”, particularly reforms which were already planned before the set up of the RRF and the emergence of the pandemic;
Amendment 166 #
2021/2251(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Regrets that among the initial payment requests, in some instances, some Member States make extensive use of the retroactivity clause, particularly as regards the reforms component; is of the opinion, that some of the reforms included in the first payment claims were already planned before the emergence of the pandemic and the set up of the RRF and thus should not receive funding from the instrument;
Amendment 171 #
2021/2251(INI)
Motion for a resolution
Paragraph 14 b (new)
Paragraph 14 b (new)
14 b. Reminds that the Facility is subject to the sound economic governance and calls on the Commission to apply the existing rules scrupulously;
Amendment 176 #
2021/2251(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Welcomes the fact that 22 NRRPs have been approved and observes that as of early February 2022, one Member State had not yet put forward its NRRP; further notes that four NRRPs are pending assessment by the Commission; is concerned that some of the plans have been under assessment for a considerable time;
Amendment 192 #
2021/2251(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Calls on the Commission to apply diligently the RRF rules when assessing the remaining plans; reminds the Commission that the RRF is subject to the Rule of Law conditionality regime and calls on refraining from approving NRRPs in case of concerns regarding the observance of rule of law and the sound financial management of EU funds, prevention, detection and fight against fraud, conflict of interests and corruption; furthermore, recalls that the observance of rule of law and the sound financial management of EU funds are to be evaluated continuously throughout the lifecycle of the RRF and that the Commission shall refrain to disburse funding and, where applicable, recover funds, in case such conditions are no longer fulfilled; reminds Member States that the failure to fully comply with the provisions of the Regulation and the subsequent delays in the approval of the NRRPs, seriously affect the capacity of local and regional authorities in adequately tackling the impact of the pandemic on their communities, businesses and citizens and can lead to a long term worsening of the local and regional economic situation;
Amendment 224 #
2021/2251(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Notes that the Commission estimates social spending in the NRRPs to account forMember States’ RRPs at around 20 % of the grants and loans requested; observes that thisose expenditure focuses on employment incentives for specific disadvantaged groups, reforms of employment protection legislation and labour contract regulation; regrets that social investment measures have been rather limited to social infrastructure and that only somsupport the Commission to build through the RRF a more resilient and inclusive labour market; is of the opinion, however, that social expenditure financed though the NRRPs contain measures for the development of proper care services and temporary support measures; supports the Commission’s aim, through the RRF, of building a more resilient and inclusive labour marketF must not replace nor become recurring budgetary expenditure and shall be strictly linked with the overall objectives of the RRF, namely to support the post-crisis economic recovery;
Amendment 249 #
2021/2251(INI)
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25 a. Observes that almost all approved RRPs contain investment in digital education, making up about 30% of the total spending on education; welcomes the focus on the modernisation of education systems in the Member States;
Amendment 254 #
2021/2251(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. EStrongly emphasises that the RRF should not be used to substitute recurring national budgetary expenditure, unless duly justified; notes that the Commission has only approved NRRPs to cover the initial costs of setting up and launching reforms, which might become recurring costs, if the sustainable financing of the future costs shall be ensured from the national budget or other instruments and it fully respects the concept of sustainable fiscal policy; is deeply preoccupied by measures included in some NRRPs which foresee important amounts for salaries; believes that such expenditure has the clear potential to become recurring budgetary expenditure after the RRF implementation period; strongly questions the criteria on which the Commission has approved such measures; believes that RRF expenditure should not lead to an increase of public spending;
Amendment 276 #
2021/2251(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Believes that NRRPs would benefit from further cross-border projects in order to enhance spill-over effects and contribute to EU added value; believes that further cross-border measures should have been included in the NRRPs in order to enhance its spill-over effect and to boost its EU added value;
Amendment 279 #
2021/2251(INI)
Motion for a resolution
Paragraph 29 a (new)
Paragraph 29 a (new)
29 a. Observes that one Member State proposed to transfer structural funds to its NRRP, that only two Member States plan to provision their Invest EU envelopes with RRF funds and that only three Member States foresee incorporating the costs of technical support in their NRRPs; regrets that the provision to transfer RRF funds to the InvestEU national compartments has not been used to its full potential; recalls that synergies among different EU funds is essential for a proper recovery and consolidated resilience of the Union and reminds Member States that the use of this provision contributes to enhancing synergies;
Amendment 281 #
2021/2251(INI)
Motion for a resolution
Paragraph 29 b (new)
Paragraph 29 b (new)
29 b. Reminds that according to the RRF Regulation the recovery and resilience plans shall also be consistent with the information included by the Member States in the partnership agreements and operational programmes under Union funds; reiterates that this provision is not only important to avoid double-funding or overlapping of objectives, but also to ensure a coordinated approach and maximise the benefits of EU funding; requests the Commission to provide an analysis how this coordination is ensured; takes note that the adoption of the NRRPs has led in some instances to the delays in the adoption of Partnership Agreements and calls on these delays to be addressed;
Amendment 283 #
2021/2251(INI)
Motion for a resolution
Paragraph 29 c (new)
Paragraph 29 c (new)
29 c. Questions how the Commission has encouraged Member States to foster synergies with NRRPs of other Member States;
Amendment 288 #
2021/2251(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. NReminds that all RRPs have to contribute to effectively addressing all or a significant subset of challenges identified in the relevant country-specific recommendations including fiscal aspects; notes the Commission assessment that all NRRPs address at least a significant subset of challenges identified in the relevant European Semester recommendations but that not all challenges are addressedchallenges remain; deplores that some Member States are not sufficiently tackling some long-standing challenges, particularly as regards the fiscal sustainability or the reform of the labour and pensions systems as well as other structural reforms; strongly questions in this regard the positive evaluation of the Commission of some of the NRRPs which fail to propose serious structural reforms deplores that in some instances, NRRPs have been approved although the final design of important structural reforms had not been finalised by the Member States concerned, nor finally agreed with the Commission;
Amendment 293 #
2021/2251(INI)
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
30 a. Reiterates the fact that not all CSRs are equally important and regrets the quantitative approach of the Commission when evaluating the NRRPs in relation to the fulfilment of challenges identified in the relevant CSRs, whereby important structural challenges have not been properly addressed
Amendment 295 #
2021/2251(INI)
Motion for a resolution
Paragraph 30 b (new)
Paragraph 30 b (new)
30 b. Calls on the Commission to step up its evaluation of the fulfilment of CSRs in the NRRPs in the disbursement phase of the Facility and to refrain from making any payments if agreed milestones and targets related to challenges in the relevant CSRs are not adequately met, including not rolling back on previously met milestones and targets; furthermore calls on the Commission, if necessary, to make full use of the provisions of the Regulation, allowing it to recover grants or ask for early repayment of loans in case of breach of the obligations of Member States under the financing agreements, including in relation to the implementation of CSRs;
Amendment 296 #
2021/2251(INI)
Motion for a resolution
Paragraph 30 c (new)
Paragraph 30 c (new)
30 c. Calls on the Members States to look for ways on how to involve refugees fleeing Ukraine to the European Union, following the military invasion of the Russian Federation, in the practical implementation of the NRRPs, therefore, helping to alleviate their socio-economic situation;
Amendment 297 #
2021/2251(INI)
Motion for a resolution
Paragraph 30 d (new)
Paragraph 30 d (new)
30 d. Reiterates, in the context of the Russian invasion of Ukraine and its possible consequences, particularly as regards the dependence on Russian gas, the importance of EU's energy security; welcomes in this regard the NRRPs containing measures to enhance energy security by decreasing dependence on Russian gas; furthermore, underlines the importance of measures relating to the climate component in order to mitigate the impact of the energy prices crisis upon the EU;
Amendment 307 #
2021/2251(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Observes, that by the nature of the instruments, the control focuses on the achievement of results instead of verifications of costs; notes that this approach can simplify the implementation and contribute to the achievement of the desired outcome; nevertheless, is deeply preoccupied that it also makes the detection of abuse of EU funds more difficult; Urges the Commission to take the appropriate measures to ensure early detection of abuse of EU funds; calls on it to monitor rigorously any possible occurrence of double funding and, if such occurrences are confirmed, to proceed with the recovery of funds without delay;
Amendment 324 #
2021/2251(INI)
Motion for a resolution
Paragraph 33 a (new)
Paragraph 33 a (new)
33 a. Reminds the Commission that in the evaluation of NRRPs and payment claims it can be assisted by experts and invites to make full use of this provision, particularly if it lacks the in-house capacity to thoroughly scrutinise the plans or the fulfilment of milestones and targets; is concerned that the Council does not have sufficient capacity to analyse NRRPs or payment claims and warns against transforming this evaluation into a mere box-ticking exercise;
Amendment 330 #
2021/2251(INI)
Motion for a resolution
Paragraph 33 b (new)
Paragraph 33 b (new)
33 b. Calls on the Commission to ensure that adequate control capacities are in place and that the Commission, OLAF, the Court of Auditors and where applicable the EPPO are granted full access by Member States to information to exert their rights according to the Financial Regulation and the RRF Regulation;
Amendment 332 #
2021/2251(INI)
Motion for a resolution
Paragraph 33 c (new)
Paragraph 33 c (new)
33 c. Calls on the Court of Auditors, OLAF and EPPO to make full use of their role under the RRF Regulation and scrutinise thoroughly all RRF spending, in order to prevent, detect, correct and investigate fraud, corruption, conflict of interests and where applicable to impose administrative penalties, as well as to avoid double funding;
Amendment 335 #
2021/2251(INI)
Motion for a resolution
Paragraph 33 d (new)
Paragraph 33 d (new)
33 d. Reiterates the importance of the Commission undertaking a continuous, including ex-post, monitoring of the RRF expenditure; believes that full transparency is needed from the Member States, including as regards implementation and management data, in order to analyse the results of the RRF and identify possible weaknesses;
Amendment 336 #
2021/2251(INI)
Motion for a resolution
Paragraph 33 e (new)
Paragraph 33 e (new)
33 e. Reminds that in the framework of the discharge procedure to the Commission, in accordance with Article 319 TFEU, the Facility shall be subject to reporting under the integrated financial and accountability reporting referred to in Article 247 of the Financial Regulation, and, in particular, separately in the Annual Management and Performance Report.
Amendment 337 #
2021/2251(INI)
Motion for a resolution
Paragraph 33 f (new)
Paragraph 33 f (new)
33 f. Calls on all Member States to collect and record data on final recipients and beneficiaries of Union funding in an electronic standardised and interoperable format and to use the single data mining tool provided by the Commission; furthermore, reiterates the importance of digitalising all reporting, monitoring and audit;
Amendment 340 #
2021/2251(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
34. Reaffirms Parliament’s role in scrutinising the implementation of the RRF, in particular through five plenary debates held in 2021, two adopted resolutions, four Recovery and Resilience Dialogues held with the Commission in 2021, 20 meetings of the dedicated working group on the scrutiny of the RRF, parliamentary questions, and the regular flow of information and ad hoc requests for information from the Commission; remains committed in ensuring that it will make full use of the entire range of possibilities offered by the Regulation to scrutinise RRF spending, including via local actions in the Member States.
Amendment 345 #
2021/2251(INI)
Motion for a resolution
Paragraph 34 a (new)
Paragraph 34 a (new)
34 a. Invites the Commission to follow an open, transparent and constructive approach during the recovery and resilience dialogues and to observe the provision of Article 26(1)as regards regular interactions with the Parliament; calls to set up a schedule of the recovery and resilience dialogues for the rest of the year, instead of ad-hoc solutions.
Amendment 350 #
2021/2251(INI)
Motion for a resolution
Paragraph 34 b (new)
Paragraph 34 b (new)
34 b. Deplores that national parliaments, regions and municipalities have had a limited or even no involvement in designing national plans; recalls that regions and municipalities are at the forefront of RRP implementation and demands the Commission and the Member States to ensure proper and deep involvement of regions and municipalities, social partners, civil society, youth organisations and other relevant stakeholders;
Amendment 352 #
2021/2251(INI)
Motion for a resolution
Paragraph 34 c (new)
Paragraph 34 c (new)
34 c. Reiterates that the RRF is not a political instrument, but an unprecedented instrument to support citizens and businesses, and calls on the Commission to ensure that Member States do not allocate funding based on political criteria; calls on the Commission to ensure that calls for proposals for RRF funding at national level are competitive and allow for a level playing field as regards the access for regions and municipalities; warns against “tailored- made” calls for proposals at national level whereby criteria are specifically designed for one competitor; calls on the Commission and other institutions involved in the control system to investigate such cases and take all required measures;
Amendment 356 #
2021/2251(INI)
Motion for a resolution
Paragraph 34 d (new)
Paragraph 34 d (new)
34 d. Calls on Member States to ensure that management systems of RRF funds takes into consideration the specific needs of the regional and local level and to put in place management systems that allow for RRF expenditure related to local and regional objectives to be de-centralised;
Amendment 357 #
2021/2251(INI)
Motion for a resolution
Paragraph 34 e (new)
Paragraph 34 e (new)
34 e. Reiterates the importance of allowing access to private sector to RRF expenditure, where applicable; recalls the importance of SMEs in the implementation of the RRF and warns against measures which would prevent SMEs from accessing RRF funding; invites the Commission to provide detailed analyses on the access of the private sector to RRF funding;
Amendment 359 #
2021/2251(INI)
Motion for a resolution
Paragraph 34 f (new)
Paragraph 34 f (new)
34 f. Reminds that according to the RRF regulation the Commission shall implement information and communication actions relating to the Facility, to actions taken pursuant to the Facility and to the results obtained; and that the Commission shall where appropriate inform the representation offices of the European Parliament of its actions and involve them in those actions;
Amendment 51 #
2021/0433(CNS)
Proposal for a directive
Recital 2
Recital 2
(2) In a continued effort to put an end to tax practices of MNEs which allow them to shift profits to jurisdictions where they are subject to no or very low taxation, the OECD has further developed a set of international tax rules to ensure that MNEs pay a fair share of tax wherever they operate. This major reform aims to put a floor on competition over corporate income tax rates through the establishment of a global minimum level of taxation, and not eliminate tax competition overall. By removing a substantial part of the advantages of shifting profits to jurisdictions with no or very low taxation, the global minimum tax reform will level the playing field for businesses worldwide and allow jurisdictions to better protect their tax bases.
Amendment 52 #
2021/0433(CNS)
Proposal for a directive
Recital 3
Recital 3
(3) This political objective has been translated into the Global Anti-Base Erosion Model Rules (GloBE Model Rules) approved on 14 December 2021 by the OECD/G20 Inclusive Framework on BEPS to which Member States have committed. In the Council Conclusions of 7 December 20218 , the Council reiterated its firm support of the global minimum tax reform and committed to a swift implementation of the agreement by means of Union legislation. In this context, it is essential that Member States effectively implement their commitment to achieve a global minimum level of taxation. It is furthermore essential to avoid deviations on substantive matters from the OECD agreement, to confirm the EU support for the compromise negotiated under the OECD umbrella. _________________ 8 Council Conclusions 14767/21 of 7 December 2021
Amendment 61 #
2021/0433(CNS)
Proposal for a directive
Recital 5
Recital 5
(5) It is necessary to lay down rules in order to establish an efficient and coherent framework for the global minimum level of taxation at Union level, with full respect to the OECD agreement. The framework creates a system of two interlocked rules, together referred to as the GloBE rules, through which an additional amount of tax called a top-up tax should be collected each time that the effective tax rate (ETR) of an MNE in a given jurisdiction is below the 15 %. In such case, the jurisdiction is considered to be low-taxed. Those two rules are called the Income Inclusion Rule (IIR) and the Undertaxed Payment Rule (UTPR). Under this system, the parent entity of an MNE located in a Member State has the obligation to apply the IIR to its share of top-up tax relating to any entity of the group that is low-taxed, whether this is located within or outside the Union. The UTPR should act as a backstop to the IIR through a reallocation of any residual amount of top-up tax in cases where not the entire amount of top-up tax relating to low-taxed entities could be collected by parent entities through the application of the IIR.
Amendment 64 #
2021/0433(CNS)
Proposal for a directive
Recital 6
Recital 6
(6) It is necessary to implement the GloBE Model Rules agreed by the Member States in a way that it remains as close as possible to the global agreement. The success of the agreement will depend entirely on a transparent and consistent implementation within the Union and globally. This Directive closely follows the content and structure of the GloBE Model Rules. To ensure compatibility with primary Union law, and more precisely with the freedom of establishment, the rules of this Directive should apply to entities resident in a Member State as well as non-resident entities of a parent entity located in that Member State. This Directive should also apply to very large- scale, purely domestic groups. In this way, the legal framework would be designed to avoid any risk of discrimination between cross-border and domestic situations. All entities, including the parent entity that applies the IIR, which are located in a Member State that is low- taxed, would be subject to the top-up tax. Equally, constituent entities of the same parent entity that are located in another Member State, which is low-taxed, would be subject to the top-up tax.
Amendment 67 #
2021/0433(CNS)
Proposal for a directive
Recital 7
Recital 7
(7) While it is necessary to ensure that tax avoidance practices are discouraged, adverse impacts on smaller MNEs in the internal market should be avoided. For this purpose, this Directive should only apply to entities located in the Union that are members of MNE groups or large-scale domestic groups that meet the annual threshold of at least EUR 750 000 000 of consolidated revenue. This threshold would be consistent with the threshold of existing international tax rules such as the country- by-country reporting rules9 . The European Commission should monitor if and how Member States are applying the GloBE Model Rules to smaller entities, and take appropriate measures, should the implementation be in conflict with the principles of the EU law or where it undermines internal market coherence. Entities within the scope of this Directive are referred to as constituent entities. Certain entities should be excluded from the scope based on their particular purpose and status. Excluded entities would be those that are not profit-driven and perform activities in the general interest and which are, for these reasons, not likely to be subject to tax in the Member State in which they are located. In order to protect those specific interests, it is necessary to exclude from the scope of the Directive governmental entities, international organisations, non- profit organisations and pension funds from the scope of this Directive. Investment funds and real estate investment vehicles should also be excluded from the scope when they are at the top of the ownership chain, since, for those so-called flow-through entities, the income earned is taxed at the level of the owners. _________________ 9 Council Directive (EU) 2016/881 of 25 May 2016 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation, OJ L 146/8 (3 Jun. 2016) [DAC 4].
Amendment 74 #
2021/0433(CNS)
Proposal for a directive
Recital 12
Recital 12
(12) The ETR of an MNE group in each jurisdiction where it carries out activities or of a large-scale domestic group should be compared to the agreed minimum tax rate of 15 % in order to determine whether the MNE group or large-scale domestic group is liable to pay a top-up tax and consequently should apply the IIR or the UTPR. The minimum tax rate of 15 % agreed by the OECD/G20 Inclusive Framework on BEPS reflects a balanced compromise amongst corporate tax rates worldwide. In cases where the ETR of an MNE group falls below the minimum tax rate in a given jurisdiction, the top-up tax should be allocated to the entities in the MNE group that are liable to pay the tax in accordance with the application of the IIR and the UTPR, in order to comply with the globally agreed minimum effective rate of 15 %. In cases where the ETR of a large- scale domestic group falls below the minimum tax rate, the UPE at the top of the large-scale domestic group should apply the IIR in respect of its low-taxed constituent entities, in order to ensure that such group is liable to pay tax at an effective minimum rate of 15 %.
Amendment 80 #
2021/0433(CNS)
Proposal for a directive
Recital 14
Recital 14
(14) To ensure a proportionate approach, this exercise should take into consideration certain specific situations in which BEPS risks are reduced. Therefore, the Directive should include a substance carve-out based on the costs associated with employees and the value of tangible assets in a given jurisdiction. This would allow to address, to a certain extent, situations where an MNE group or a large-scale domestic group carries out economic activities which require material presence in a low-taxed jurisdiction as in such case BEPS practices would be unlikely to flourish. The specific case of MNE groups that are at the first stages of their international activity should also be considered in order not to discourage the development of cross- border activities for MNE groups that benefit from low taxation in their domestic jurisdiction where they are predominantly operating. Thus, the low-taxed domestic activities of such groups should be excluded from the application of the rules for a transitional period of no longer than five years, and provided that the MNE group does not have constituent entities in more than six other jurisdictions. In order to ensure equal treatment for large-scale domestic groups, the income from the activities of such groups should also be excluded for a transitional period of no longer than five years.
Amendment 95 #
2021/0433(CNS)
Proposal for a directive
Recital 20
Recital 20
(20) The effectiveness and fairness of the global minimum tax reform heavily relies on its worldwide implementation. It will thus be vital that all major trading partners of the Union apply either a qualified IIR or an equivalent set of rules on minimum taxation. In this context, and in support of legal certainty and efficiency of the global minimum tax rules, it is important to further delineate the conditions under which the rules implemented in a third country jurisdiction which will not transpose the rules of the global agreement can be granted equivalence to a qualified IIR. To this end, this Directive should provide for an assessment, by the Commission, of the equivalence criteria based on certain parameters together with a listing of third country jurisdictions that meet the equivalence criteria in a timely manner. This list would be modified, through a delegated act, following any subsequent assessment of the legal framework implemented by a third country jurisdiction in its domestic law.
Amendment 101 #
2021/0433(CNS)
Proposal for a directive
Recital 23 a (new)
Recital 23 a (new)
(23 a) A review clause is introduced in this Directive to assess the application of the Directive in the EU after five years. This assessment should reflect progress in the global implementation of the OECD agreement/GloBE Model Rules, as well as analysing the harmonized application of the Directive in the EU Member States. It should focus on the use of exemptions and derogations and its impact on internal market coherence. A review could be used as an opportunity to integrate further modification of the GloBE Model rules into EU law if necessary.
Amendment 120 #
2021/0433(CNS)
Proposal for a directive
Article 3 – paragraph 1 – point 12
Article 3 – paragraph 1 – point 12
(12) ‘minimum tax rate’ means fifteen percent (15 % hereinafter);
Amendment 240 #
2021/0433(CNS)
Proposal for a directive
Article 53 – paragraph 1
Article 53 – paragraph 1
The European Parliament shall be informed of the adoption of delegated acts by the Commission, of any objection formulated to them, and of the revocation of a delegation of powers by the Council in a timely manner.
Amendment 241 #
2021/0433(CNS)
Proposal for a directive
Article 53 – paragraph 1 a (new)
Article 53 – paragraph 1 a (new)
By... [five years after the entry into force of this Directive], the Commission shall review the application of this Directive and report to the Council on its operation. The report shall address whether there is a need to amend this Directive in light of changes and developments in the international tax context, in particular regarding the implementation of the GloBE Model Rules outside the Union and the development of other, unilateral approaches towards minimum effective taxation of MNE groups. It should also focus on use of exemptions and derogations and its impact on internal market coherence. The report shall assess the impact of the Directive on EU countries’ tax revenue, investment decisions of the companies, as well as competitiveness of the EU within the global economy. Where appropriate, the report shall be accompanied by a legislative proposal. Such an impact assessment can support the OECD’s Inclusive Framework analysis of Pillar 2 and, if appropriate, feed into a modification of the rules at the OECD level and, if agreed, in the OECD, changes to the EU Directive.
Amendment 191 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 2 – point d
Article 1 – paragraph 2 – point d
Regulation (EU) No 600/2014
Article 2 – paragraph 1 – point 36b – point a – point i
Article 2 – paragraph 1 – point 36b – point a – point i
(i) the best bids and offers with corresponding volumes and timestamps, limited to pre-trade transparency data for shares. For auction systems, that also means the price at which the trading algorithm would be best satisfied and the volume potentially executed at that price by participants in that system;
Amendment 271 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 7
Article 1 – paragraph 7
Regulation (EU) No 600/2014
Article 13 – paragraph 3 – first subparagraph
Article 13 – paragraph 3 – first subparagraph
3. ESMA shall develop draft regulatory technical standards to (a) specify what constitutes a reasonable commercial basis, as well as the content, format and terminology of the reasonable commercial basis information that trading venues, APAs, CTPs and systematic internalisers have to make available to the public; and (b) specify the frequency, contact details and format of the information to be provided to the competent authorities and ESMA in accordance with paragraph 3.
Amendment 275 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 7 a (new)
Article 1 – paragraph 7 a (new)
Regulation (EU) No 600/2014
Article 13 – paragraph 3a (new)
Article 13 – paragraph 3a (new)
3a. ESMA shall develop draft regulatory technical standards to identify the cost criteria of producing and disseminating market data resulting from trading activities and specify what constitutes a reasonable margin that market operators and investment firms operating a trading venue, APAs, CTPs and systematic internalisers shall follow to comply with Article 13 (2). ESMA shall regularly monitor the developments in market data costs and the levels of compliance with the rules, and shall regularly update its draft regulatory technical standards in light of the result of its assessment.
Amendment 327 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 10
Article 1 – paragraph 10
Reguation (EU) No 600/2014
Article 22a – paragraph 1 a (new)
Article 22a – paragraph 1 a (new)
1 a. Regulated markets or MTFs whose average daily trading volume of shares represents less than 1 % of the average daily trading volume of the Union shall not be required to provide market data to the CTP;
Amendment 330 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 10
Article 1 – paragraph 10
Regulation (EU) No 600/2014
Article 22a – paragraph 1 b (new)
Article 22a – paragraph 1 b (new)
1 b. Regulated markets whose average daily trading volume of shares exceeds 1% of the average trading volume of the Union and which are not part of a group comprising or having close links with a regulated market that would be above the 1% threshold of the total value of equity value traded within the EU, shall not be required to provide market data to the CTP if the regulated market accounts for more than 85 % of the average daily trading volume of shares that were first admitted to trading on that regulated market;
Amendment 449 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 26
Article 1 – paragraph 26
Regulation (EU) No 600/2014
Article 39 a (new) – title
Article 39 a (new) – title
Article 39a Ban on payment for forwarding client orders for executionor execution of client orders.
Amendment 458 #
2021/0385(COD)
Proposal for a regulation
Article 1 – paragraph 26
Article 1 – paragraph 26
Regulation (EU) No 600/2014
Article 39a
Article 39a
1. Investment firms executing orders on behalf of a retail client shall take all necessary steps to obtain the best possible price for their clients, net of costs relating to execution, which shall include all expenses directly related to the execution of the order, including execution venue fees, clearing and settlement fees and any other fees paid to third parties involved in the execution of the order. Investment firms acting on behalf of clients shall not receive or accept any fee or commission or any monetary or non- monetary benefits from any third party for forwarding client orders to such third party for their execution.;paid or provided by any third party or a person acting on behalf of a third party in relation to the forwarding or execution of orders. 1a. The Commission shall adopt a delegated act in accordance with Article 50 by [12 months after the date of entry into force of this amending Regulation] to specify the market practices falling under the provision of the first subparagraph of this Article. The Commission shall regularly update that delegated act to account for the development of new market practices.
Amendment 333 #
2021/0342(COD)
Proposal for a regulation
Recital 15
Recital 15
Amendment 696 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point a – introductory part
Article 122a – paragraph 3 – point a – introductory part
(a) where the purpose of a specialised lending exposure is to finance the acquisition of physical assets, including ships, aircraft, satellites, railcars, and fleets, and the income to be generated by those assets comes in the form of cash flows generated by the specific physical assets that have been financed and pledged or assigned to the lender by one or several third parties (‘object finance exposures’), institutions shall apply the followinga risk weights: of 100%.
Amendment 702 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point a – point i
Article 122a – paragraph 3 – point a – point i
Amendment 707 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point a – point ii
Article 122a – paragraph 3 – point a – point ii
Amendment 716 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 41
Article 1 – paragraph 1 – point 41
Regulation (EU) No 575/2013
Article 122a – paragraph 3 – point c – introductory part
Article 122a – paragraph 3 – point c – introductory part
(c) where the purpose of a specialised lending exposure is to finance a projectsingle project, either in the form of construction of a new capital installation or refinancing of an existing installation, with or without improvements, in particular projects for the development or acquisition of large, complex and expensive installations, including power plants, chemical processing plants, mines, transportation infrastructure, environment, and telecommunications infrastructure, and the income to be generated by the project is the money generated by the contracts for the output of the installation obtained from one or several parties which are nofinanced project serves both as the primary source of repayment uander management control of the sponsor as security for the loan (‘project finance exposures’), institutions shall apply the following risk weights:
Amendment 1184 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 193
Article 1 – paragraph 1 – point 193
Amendment 1194 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 193
Article 1 – paragraph 1 – point 193
Regulation (EU) No 575/2013
Article 461a – paragraph 1 a (new)
Article 461a – paragraph 1 a (new)
By 31 December 2025, the Commission shall submit a report to the European Parliament and to the Council, on the implementation of the international standards on own funds requirements for market risk in other jurisdictions. This report may be accompanied by a legislative proposal, if appropriate, in order to ensure a global level playing field.
Amendment 1224 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 3
Article 465 – paragraph 3
Amendment 1271 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 4
Article 465 – paragraph 4
Amendment 1285 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 196
Article 1 – paragraph 1 – point 196
Regulation (EU) No 575/2013
Article 465 – paragraph 5
Article 465 – paragraph 5
Amendment 1436 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – title
Article 495d – title
Amendment 1440 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 1
Article 495d – paragraph 1
Amendment 1450 #
2021/0342(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 199
Article 1 – paragraph 1 – point 199
Regulation (EU) No 575/2013
Article 495d – paragraph 2
Article 495d – paragraph 2
Amendment 260 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48a – paragraph 1 – point a
Article 48a – paragraph 1 – point a
(a) the total value of the assets booked or originated by the third country branch in the Member State is equal to or higher than EUR 5 billion, as reported for the immediately preceding annual reporting period in accordance with Section II, Sub- section 4;
Amendment 276 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48i – paragraph 1
Article 48i – paragraph 1
1. Member States shall require third country branches to maintain a registry book enabling those branches to track and keep a comprehensive and precise record of all the assets and liabilities originated by and associated with the activities of the third country branch in the Member State and to manage those assets and liabilities autonomously within the branch. The registry book shall provide sufficient information on the risks generated by the third country branch and on how they are managed.
Amendment 296 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48k – paragraph 3 – subparagraph 1 – point b
Article 48k – paragraph 3 – subparagraph 1 – point b
(b) where Article 111 does not apply to the relevant third country group, the competent authority that would become the consolidated supervisor of that third country group in the Union in accordance with that Article, should the third country branches be treated as subsidiary institutions of the same consolidated group of entities;
Amendment 301 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48k – paragraph 5 – subparagraph 3
Article 48k – paragraph 5 – subparagraph 3
For the purposes of point (a), the assets held or originated in both the third country branches and the assets held in subsidiary institutions of the third country group shall be included in the calculation.
Amendment 306 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
Directive 2013/36/EU
Article 48l – paragraph 1 – subparagraph 1 – point a– introductory part
Article 48l – paragraph 1 – subparagraph 1 – point a– introductory part
(a) the assets and liabilities held on their books in accordance with Article 48i, or originated by the third country branch, with a breakdown that singles out:
Amendment 310 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 8
Article 1 – paragraph 1 – point 8
3 a. The competent authorities of third country branches shall share with the competent authorities of the EU subsidiaries of the same third country groups the information obtained in accordance with Article 48l(1) and (2).
Amendment 416 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 a – paragraph 2 – subparagraph 2
Article 91 a – paragraph 2 – subparagraph 2
However, where it is strictly necessary to replace a member of the management body immediately, the entities may assess theconduct a lighter suitability assessment of such replacement members after they have taken up their positions. before they have taken up their positions. A complete assessment shall be carried out as soon as possible after the replacement members have taken up their positions. EBA shall issue guidelines specifying the conditions for conducting a lighter assessment, including guidance on the cases that might be considered urgent. The entities shall be able to duly justify such immediate replacement.
Amendment 428 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 b – paragraph 3 – subparagraph 1
Article 91 b – paragraph 3 – subparagraph 1
3. Competent authorities shall acknowledge incomplete the suitability assessment writing the receipt of the application and the documentation required in accordance with paragraph 2 within two working dayshin 80 working days (“assessment period”) as from the date of the written acknowledgement of receipt of the complete application and underlying documentation.
Amendment 447 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 b – paragraph 4
Article 91 b – paragraph 4
4. Competent authorities that request from the entities additional information or documentation, including from the entities or other authorities or which conduct interviews or hearings, may extend the assessment period for a maximum of 40 working days. However, the assessment period shall not exceed 120 working days. Request for additional information or documentation shall be made in writing and shall be specific. The entities shall acknowledge receipt of request for additional information or documentation within two working days and provide the requested additional information or documentation within 10 working days as of the date of the written acknowledgement of the request from competent authorities. Failure by the entities to provide the requested information within this deadline shall result in the procedure being closed without any further assessment by the competent authority. The closure of the procedure shall be without prejudice to the possibility by the entity to submit a new application.
Amendment 481 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 b – paragraph 10 – subparagraph 1
Article 91 b – paragraph 10 – subparagraph 1
10. EBA shall develop draft implementing technical standards on standard forms, templates and procedures for the provision of the information referred to in paragraph 2. When developing the draft implementing technical standards, EBA shall take into account existing practices and tools.
Amendment 499 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 20
Article 1 – paragraph 1 – point 20
Directive 2013/36/EU
Article 91 d – paragraph 8 – subparagraph 1
Article 91 d – paragraph 8 – subparagraph 1
8. EBA shall develop draft implementing technical standards on standard forms, templates and procedures for the provision of the information referred to in paragraph 2. When developing the draft implementing technical standards, EBA shall take into account existing practices and tools.
Amendment 540 #
2021/0341(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 26 – point b
Article 1 – paragraph 1 – point 26 – point b
Directive 2013/36/EU
Article 104 a – paragraph 6 a (new)
Article 104 a – paragraph 6 a (new)
6a. The EBA shall, by 30 June 2023, issue guidelines complementing its guidelines on the Supervisory Review and Evaluation Process, which shall further specify how to operationalise the requirements set out in paragraph 6, and in particular: (a) how competent authorities shall reflect in their supervisory review and evaluation process the fact that an institution has become bound by the output floor; (b) how competent authorities and institutions shall communicate and disclose the impact on supervisory requirements of an institution becoming bound by the output floor.
Amendment 486 #
2021/0250(COD)
Proposal for a directive
Article 10 – paragraph 4
Article 10 – paragraph 4
4. The Commission is empowered toBy [1 year after the entry into force of this Directive] the Commission shall adopt, by means of implementing acts, the format for the submission of beneficial ownership information to the central register, including a checklist of minimum requirements for information to be examined by the registrant. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 54(2).
Amendment 499 #
2021/0250(COD)
Proposal for a directive
Article 10 – paragraph 5 – point a a (new)
Article 10 – paragraph 5 – point a a (new)
(aa) central registers shall verify the information submitted to its register within a reasonable timeline.
Amendment 681 #
2021/0250(COD)
Proposal for a directive
Article 18 – paragraph 1 – point a – introductory part
Article 18 – paragraph 1 – point a – introductory part
(a) immediate and, with the exception of point (ii), direct access to at least the following financial information:
Amendment 687 #
2021/0250(COD)
Proposal for a directive
Article 18 – paragraph 1 – point a – point ii
Article 18 – paragraph 1 – point a – point ii
Amendment 688 #
2021/0250(COD)
Proposal for a directive
Article 18 – paragraph 1 – point a – point iii
Article 18 – paragraph 1 – point a – point iii
(iii) information from obliged entities, including information on wire transfers;
Amendment 13 #
2021/0227(BUD)
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2 a. Stresses that the NextGenerationEU (NGEU) represents a significant decision in the area of the Union budget. Only efficient use of funds can lead to the success of that instrument. Recalls that approval of the national plans is only the beginning of the process, and requests the Commission to guarantee that only projects consistent with NGEU will be financed.
Amendment 17 #
2021/0227(BUD)
Draft opinion
Paragraph 2 b (new)
Paragraph 2 b (new)
2 b. Requests a more proactive approach by the Commission in the fight against the misuse of the Union funds, including against wrongdoings and conflicts of interest. Significant improvement is needed to maintain the credibility of the key principles of EU budgetary policy, including solidarity. Expresses concerns about insufficient progress made especially in spending in the area of Common Agricultural Policy, where there is less transparency and the role of the Commission in controlling the proper use of Union funds is inferior to other parts of the Union budget.
Amendment 45 #
2021/0227(BUD)
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6 a. Welcomes that the Council shares the opinion of the Commission on the financing of the ESAs. Stresses, that acceptance of the proposed budget should lead to clear progress in the areas where some responsibilities are given to the ESAs and where the current situation is dissatisfactory, especially in the area of anti-money laundering.
Amendment 49 #
2021/0227(BUD)
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Calls for more transparency in the work of the Commission when evaluating pilot projects submitted by the European Parliament, as some can be beneficial for the functioning of the Union. Current working methods lack transparency and clarity, which results in several important and feasible proposals, that could have added value, being refused.
Amendment 26 #
2020/2254(INL)
Motion for a resolution
Recital E
Recital E
E. whereas current international corporate tax rules are no longer suitable in the context of digitalisation and globalisation of the economy; whereas developments of digitalisation create a challenge in terms of traceability of economic operations and taxable events, especially when these operations are cross-border or take place outside the Union;
Amendment 32 #
2020/2254(INL)
Motion for a resolution
Recital G
Recital G
G. whereas increased transparency in the area of corporate taxation can improve tax collection and is also necessary to strengthen fair competitiveness in the single market, which will make the work of tax authorities more efficient; whereas the use of technology and digitalisation focused on a more efficient use of the available data can support efficiency and transparency of tax authorities and reduce the costs of compliance and increase the trust of the public; points out that progress made with digitalisation for both taxpayers and tax authorities opens alternatives on how to systematically address certain tax fraud;
Amendment 54 #
2020/2254(INL)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Recalls that any tax measures, temporary or not, should foster and not hamper the competitiveness of European businesses; stresses that the reporting requirements should not generate higher administrative costs for economic actors, notably for small and medium-sized enterprises (SMEs); notes that to effectively address lost tax revenues, better quality and possible higher quantities of data may be needed, but only data effectively used, and collected; insists on the principle that any data gathered by the tax authorities from the taxpayers must be provided to the Member States only once, with utmost security, should be collected and respect for data protection laws; notes that data should aim to simplify various obligations of taxpayers, while artificial intelligence (AI) and various softwares should be used to maximise the effectiveness of the use of data;
Amendment 61 #
2020/2254(INL)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4 a. Underlines that diversity of the Member States tax regulations constitutes a cumbersome challenge, particularly for SMEs and start-ups operating or willing to start trading in the Single Market, having to cope with up to 27 different tax systems. Due care should be devoted to higher compliance costs sustained by SMEs, compared to larger businesses; notes that the European Commission has estimated that tax compliance costs for large companies taxes amount to about 2% of their income, whereas for SMEs the estimate is about 30%; stresses that SMEs should not be further penalised by the financial burden associated with operating under different national systems and the benefits of the single market should be easily accessible;
Amendment 69 #
2020/2254(INL)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Is of the opinion that better estimates of overall tax losses in the Union are essential for efficient proposals on ways to effectively reduce tax losses; notes that data on overall tax losses should be further analysed and compiled;
Amendment 111 #
2020/2254(INL)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. Underlines that the current VAT system remains fragmented triggering a significant administrative burden on firms, in particular for cross-border operations and SMEs, which reduces benefits of existence in the single market and also imposes costs for Member States through possible revenue losses;
Amendment 117 #
2020/2254(INL)
Motion for a resolution
Paragraph 10 b (new)
Paragraph 10 b (new)
10 b. Welcomes the proposal of a single VAT registration aiming at simplification of tax compliance, specifically in reducing uncertainty in the single market and costs for cross-border operations, through a continued extension of the One Stop Shop, similar to the e-commerce package;
Amendment 120 #
2020/2254(INL)
Motion for a resolution
Paragraph 10 c (new)
Paragraph 10 c (new)
10 c. Calls on the Commission to analyse and investigate the possibilities of using technology, AI and different software by applying it to real or near time VAT reporting in B2B transactions, with consideration to data protection and confidentiality; notes that the best result will be achieved if the data analysis tools are introduced and implemented within the Union single market or the standards for such reporting are set across the Union simultaneously;
Amendment 122 #
2020/2254(INL)
Motion for a resolution
Paragraph 10 d (new)
Paragraph 10 d (new)
10 d. Calls on the Commission to take steps towards a more efficient use of the Transaction network analysis (TNA) tool and focus on the quality of data provided, as it represents a key tool in tackling VAT fraud. In order to do so, the Commission should review how the TNA tool is used by the Member States and assist them in introducing guidance for best practices. In order to reduce compliance costs for taxpayers, data provided should be generated by an automated digitalised system of reporting data from the taxpayer to tax authorities1a (for example by e-invoicing system referred to in annex); _________________ 1aProposal to consider abandoning the existing reporting and setting up a harmonised reporting system for cross- border transactions would allow to match transactions easier (as confirmed by the EPRS study).
Amendment 127 #
2020/2254(INL)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Highlights that the current global tax environment is outdated, and can only be fully addressed on a global level; considers that awelcomes the multilateral agreement negotiated and agreed on the OECD/G20 Inclusive Framework on BEPS isand a unique opportunity to make international tax architecture more consistent with the development of the economy by further addressing the distortions of fair competition in the market, which was accentuated during the COVID-19 crisis and highlighted problems related to the taxing of large multinational enterprises (MNEs);
Amendment 132 #
2020/2254(INL)
Motion for a resolution
Paragraph 12
Paragraph 12
Amendment 148 #
2020/2254(INL)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the two-pillar agreement reached at the G7/G20 levels on the allocation of taxing rights and the application of a minimum effective tax rate of at least 15% on the global profits of MNEs; notes the need for effective implementation; calls on the Commission to make the necessary legislative proposals to implement the agreement into Union law as quickly as possible after the finalisation of the technical work on the OECD approach;
Amendment 171 #
2020/2254(INL)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. Emphasises that the implementation of the CCCTB (or a similar system) would bear a significant merit to reduce the scope for profit shifting by recourse of tax planning systems while decreasing compliance costs, in particular for cross-border economic operations;
Amendment 186 #
2020/2254(INL)
Motion for a resolution
Annex I – Part B – Recommendation B2 – paragraph 1
Annex I – Part B – Recommendation B2 – paragraph 1
The European Parliament calls on the Commission to reflect the experience and identify remaining gaps in the existing Council Directive (EU) 2017/1852 on tax dispute resolution mechanisms in the Union, in orderand propose an efficient way(s) to address the existing conflicts and uncertainties regarding residency for both natural and corporate persons, causing risks of double taxation. The regime set out in the Directive must ensure the time limitmust ensure time limits, reflecting the problems caused by dispute to taxpayers for obtaining a decision, which will be legally binding and enforced. The analyses should be done in 2022, andGiven the changes in the post-COVID economy, including a move to remote working, the Commission should as soon as possible change of Directive presented in 2023assess if current legislation is sufficient to reduce the risks of double taxation for taxpayers and, if appropriate, carry out a revision of the Directive, or alternatively, propose new measures. It is also noted the Directive lacks visibility and more should be done by the Commission to ensure citizens are aware that this mechanism is available.
Amendment 194 #
2020/2254(INL)
Motion for a resolution
Annex I – Part C – Recommendation C2 – paragraph 1 – indent 1
Annex I – Part C – Recommendation C2 – paragraph 1 – indent 1
- Relaunch the initiative of the definitive regime as the most natural and efficient way to address VAT tax fraud, costing a significantly large yearly loss;
Amendment 198 #
2020/2254(INL)
Motion for a resolution
Annex I – Part C – Recommendation C2 – paragraph 1 – indent 3
Annex I – Part C – Recommendation C2 – paragraph 1 – indent 3
- Design and propose a standard for online reporting of data for (at leastin first instance) cross-border Union trade, preferably by using data from e-invoicing (or from an alternative, but keeping the principle that the data must be provided once), including efficient and highly secure centralised/decentralised data processing for detection of fraud. The data will replace all existing reporting requirements in this area, and cause the overall costs of compliance to be reduced, notably for SMEs. Data collected should be used with due respect for confidentiality, and with consideration of all relevant data protection laws. Use of blockchain (or alternative) technology can be considered and schemes based on common Union standards could be operated by private suppliers.
Amendment 206 #
2020/2254(INL)
Motion for a resolution
Annex I a (new)
Annex I a (new)
Amendment 28 #
2020/2088(INI)
Motion for a resolution
Recital C
Recital C
C. whereas the higher turnout was ultimately linked toshould not divert our attention from the gains by Eof eurosceptics, which should be considered as a warning for European integration, especially in several founding Member States where far-right extremists and anti-European forces won the electionspopulist and nationalist movements; whereas many of these radical forces from left to right are against the EU integration project;
Amendment 35 #
2020/2088(INI)
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. Whereas we need to be more efficient and proactive in taking advantage of all means of communication, including digital technology, to foster a strong link between European political decisions and constituents’ sense of connection to EU institutions;
Amendment 56 #
2020/2088(INI)
Motion for a resolution
Recital H
Recital H
H. whereas the amendedParliament should pursue its proposals for amendments to the Electoral Act, still pending ratification by some Member States, already requires further improvements (i.e. regarding parental leave for MEPs)with renewed vigour and to push for unified European electoral rules;
Amendment 78 #
2020/2088(INI)
Motion for a resolution
Recital K
Recital K
K. whereas the Spitzenkandidaten process has yet to be fully developed; whereas it lacks, among other things, the possibility for Spitzenkandidaten to stand as official candidates in all Member States on transnational lists, allowing all European voters to choose and vote for their preferred Spitzenkandidatimproved, allowing all European voters to know who are the candidates to the presidency of the European Commission and how they were chosen by European political parties; whereas Parliament raised this issue in its decision of 7 February 2018 on the revision of the Framework Agreement on relations between the European Parliament and the European Commission15 ; ; _________________ 15 Texts adopted, P8_TA(2018)0030.
Amendment 84 #
2020/2088(INI)
Motion for a resolution
Recital L
Recital L
L. whereas the Spitzenkandidaten system needs to be improved and formalised in the EU’s primary law after an in-depth institutional reflectionaddressed and reflected upon in the Conference for the Future of Europe; whereas this reflection should also include the de facto political role of the Commission and its President and any related changes to the decision-making process of the Union;
Amendment 88 #
2020/2088(INI)
Motion for a resolution
Recital M
Recital M
M. whereas institutional improvements such as transnational lists, as acknowledged by Parliament in its resolution of 7 February 2018 on the composition of the European Parliament, or the transformation of the Council into a second legislative chamber of the Union, as proposed in its resolution of 16 February 2017 on possible evolutions of and adjustments to the current institutional set-up of the European Union, would radically transform the European elections into one true European election,are needed in order to achieve a true European political sphere as opposed to the collection of 27 separate national electiondebates that it is today;
Amendment 94 #
2020/2088(INI)
Motion for a resolution
Recital M a (new)
Recital M a (new)
M a. Whereas proposal such as the "transnational lists" or the transformation of the Council into a second legislative chamber are still under discussion; whereas none of them count currently with a majority support; Whereas the upcoming Conference on the Future of Europe provides a true opportunity to discuss these issues and other institutional reforms; Whereas the success of the Conference will crucially depend on the agenda, the involvement of the citizens and the European Council's willingness to implement results;
Amendment 125 #
2020/2088(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note of the higher turnout in the 2019 European elections; considers that this shows that an increasing proportion of citizens consider the EU to be the appropriate level at which to address the challenges of our time such as climate change and environmental concerns, social and gender inequalities, sustainable growth, and geopolitical concerns such as migration and foreign policyas economy and sustainable growth, public health, climate change and environmental protection, digital revolution, the promotion of freedom, human rights and democracy, social and gender inequalities, migration and demography, security and the role of the EU in the world; urges all the European institutions, therefore, to take responsibility and to act upon the mandate they have been given, directly or indirectly, by the citizens; regrets both the lack of decisiveness by the Council and the lack of clear intent to achieve solutions based on a common approach;
Amendment 135 #
2020/2088(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. DeplorWelcomes the fact that the outcome of the elections did not lead togender balance in Parliament has improved over the last elections; Stresses however that there is still room for further improvements in order to achieve a genuine gender -balance ind Parliament; calls on the Commission, in cooperation with Parliament and other bodies such as the Venice Commission, to formulate recommendations to Member States with a view to increasing the representation of women in the European Parliament;
Amendment 158 #
2020/2088(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Is of the opinion that the reason whyAcknowledges that the Spitzenkandidaten process failed to produce a President of the European Commission after the 2019 elections is because no improvements were made to it following the experience of 2014; intends to strengthen the democratic process for choosing the Commission President before the next European elections of 2024;
Amendment 165 #
2020/2088(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes the up-comingCalls for the swift adoption of the joint declaration of the three European institutions on the Conference on the Future of Europe, recalls the commitment by the Commission President to address the issue of transnational lists and the Spitzenkandidaten process as the priority institutional issues during the Conference;
Amendment 203 #
2020/2088(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Insists that all European voters should be allowed to vote for their preferredbe allowed to know who the candidate fors to the Ppresidentcy of the European Commission are, giving them the choice to vote for his or her political party; reiterates, therefore, that the Spitzenkandidaten should be able to stand as official candidates atin the next elections in a joint European constituency across all Member StateEuropean Elections;
Amendment 206 #
2020/2088(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
Amendment 221 #
2020/2088(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Acknowledges that despite the fact that the agreed reform of the Electoral Law has not yet been ratified by some Member States, further improvements are required, such as provisions for remote voting operations in defined or exceptional circumstances, as well as on the elections in the joint European constituencyshould be addressed at the Conference on the Future of Europe;
Amendment 243 #
2020/2088(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Urges the Commission and the Council to consider, in accordancfully engage with the work of Parliament’s new Special Committee on Foreign interference and Disinformation, the urge and take into creation of a European organisation dedicated to the fight against foreign interferenceonsideration the outcome of its work; encourages the Commission and the Council to work much more closely with Parliament on these matters, as the protection of our democratic institutions is a core competence of the European Parliament;
Amendment 249 #
2020/2088(INI)
Motion for a resolution
Paragraph 16 a (new)
Paragraph 16 a (new)
16 a. Considers European political parties' manifestos should be known before the elections, which requires clear and transparent rules on campaigning; underlines the European election rules shall promote European party democracy, including by making obligatory for parties running in European elections and the European party logo appear (next to the national one) on the ballot sheet;
Amendment 66 #
2020/2078(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Is concerned at the remarkably negative impact of the COVID-19 crisispandemic on the globalEU’s economy, trade, incomeparticularly on SMEs, Single Market and its competitiveness, multilateralism, inequalities and poverty;
Amendment 125 #
2020/2078(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Welcomes theNotes the temporary activation of the general escape clause ofunder the Stability and Growth Pact, and expects that it will remain activated at least until the end of 2021no longer then it is strictly necessary in order to support the efforts of the Member States to recover from the pandemic crisis and strengthen their competitiveness, economic and social resilience;
Amendment 135 #
2020/2078(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Recalls the specific need to foster convergence within the euro area and EU as such;
Amendment 145 #
2020/2078(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Welcomes the conclusion of the European Fiscal Board (EFB)9 that the fiscal framework has to be revised, and is convinced that the deep economic crisis triggered by the pandemic further exacerbates this need; believes that the review and reform have to meet the above requirements in terms of increasing investment relating to climate change and digitalisation and stabilising the new level of investment, while ensuring sound budgetary management;. _________________ 9EFB Annual report 2019, p. 71 - https:/ec.europa.eu/info/sites/infos/files/20 19-efb-annual-report_en.pdf
Amendment 184 #
2020/2078(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. PropoWishes to sese a combination of expenditure rules for public non- inverapid EU’s recovery from the COVID-19 crisis by stmrent expenditure and a golden rule for public investment which is central to both; wishes to see a rapid recovery from the COVID-19 crisis andgthening the Single Market, competitiveness, cohesion, a transition to a cleaner, socially sustainable and more digital society;
Amendment 251 #
2020/2078(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Underlines that publictax revenues are essential to finance the post-pandemic recovery restoring EU’s competiveness and the just transition to a sustainable economy; recalls thate importance to fight tax fraud, tax evasion and, tax avoidance at EU level amount to up to EUR 160-190 billion each year, constituting missing revenues for the treasuriend money laundering both at national and EU levels;
Amendment 1 #
2020/2075(INI)
Motion for a resolution
Citation 2
Citation 2
— having regard to Article 2 of the Treaty on European Union, signed in Maastricht on 7 February 1992, establishing in Article 2 that ‘The Community shall have as its task, by establishing a common market and an economic and monetary union and by implementing the common policies or activities referred to in Articles 3 and 3a, to promote throughout the Community a harmonious and balanced development of economic activities, sustainable and non-inflationary growth respecting the environment, a high degree of convergence of economic performance, a high level of employment and of social protection, the raising of the standard of living and quality of life, and economic and social cohesion and solidarity among Member States’,
Amendment 2 #
2020/2075(INI)
Motion for a resolution
Citation 2
Citation 2
— having regard to the Treaty on European Union, signed in Maastricht on 7 February 1992, establishing in Article 2 that ‘The Community shall have as its task, by establishing a common market and an economic and monetary union and by implementing the common policies or activities referred to in Articles 3 and 3a, to promote throughout the Community a harmonious and balanced development of economic activities, sustainable and non-inflationary growth respecting the environment, a high degree of convergence of economic performance, a high level of employment and of social protection, the raising of the standard of living and quality of life, and economic and social cohesion and solidarity among Member States’,
Amendment 3 #
2020/2075(INI)
Motion for a resolution
Citation 10 a (new)
Citation 10 a (new)
— having regard to Regulation (EU) No 1177/2011 amending Regulation (EC) No 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure1a, _________________ 1a OJ L 306, 23.11.2011, p. 33–40
Amendment 4 #
2020/2075(INI)
Motion for a resolution
Citation 10 b (new)
Citation 10 b (new)
— having regard to Regulation (EU) No 473/2013 of the European Parliament and of the Council of 21 May 2013 on common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area1a, _________________ 1a OJ L 140, 27.5.2013, p. 11–23
Amendment 5 #
2020/2075(INI)
Motion for a resolution
Citation 14
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Amendment 6 #
2020/2075(INI)
Motion for a resolution
Citation 15
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Amendment 7 #
2020/2075(INI)
Motion for a resolution
Citation 15
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Amendment 8 #
2020/2075(INI)
Motion for a resolution
Citation 16
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Amendment 9 #
2020/2075(INI)
Motion for a resolution
Citation 16
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Amendment 10 #
2020/2075(INI)
Motion for a resolution
Citation 17
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Amendment 11 #
2020/2075(INI)
Motion for a resolution
Citation 17
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Amendment 12 #
2020/2075(INI)
Motion for a resolution
Citation 20
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Amendment 14 #
2020/2075(INI)
Motion for a resolution
Citation 34
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Amendment 15 #
2020/2075(INI)
Motion for a resolution
Citation 34
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Amendment 17 #
2020/2075(INI)
Motion for a resolution
Citation 37
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Amendment 18 #
2020/2075(INI)
Motion for a resolution
Citation 37
Citation 37
Amendment 19 #
2020/2075(INI)
Motion for a resolution
Citation 37 a (new)
Citation 37 a (new)
— having regard to the European Auditor's Special Report 03/2018 Audit of the Macroeconomic Imbalance Procedure (MIP),
Amendment 20 #
2020/2075(INI)
Motion for a resolution
Citation 37 b (new)
Citation 37 b (new)
— having regard to the European Court of Auditor's Special Report 16/2020: The European Semester – Country Specific Recommendations address important issues but need better implementation,
Amendment 38 #
2020/2075(INI)
Motion for a resolution
Subheading 1
Subheading 1
Towards a sustainable andpublic finances following inclusive recovery
Amendment 39 #
Amendment 48 #
2020/2075(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. WelcomesTakes note of the Commission communication of 3 March 2021 entitled ‘One year since the outbreak of COVID- 19: fiscal policy response’ and takes note of the proposed conditions for deactivating the general escape clause (GEC); highlights that deactivation of the GEC should be conditional upon the health, social and economic situation across Member States in order to ensure that fiscal support is provided for as long as neededthe Union;
Amendment 49 #
2020/2075(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Commission communication of 3 March 2021 entitled ‘One year since the outbreak of COVID- 19: fiscal policy response’ and t; Takes note of the proposed condisiderations for deactivating the general escape clause (GEC); highlights that deactivation of the GEC should be conditional upon the health, social and economic snotes that an overall assessment of the state of the economy based on quantituation across Member States in order to ensure that fiscal support is provided for as long as neededve criteria should be taken into account;
Amendment 59 #
2020/2075(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Calls for a quick and effective use of resources from NGEU fully respecting agreed criteria, which will play an important role in support of economic recovery across the EU;
Amendment 67 #
2020/2075(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Agrees with the European Fiscal Board (EFB) on the importance of having a clear pathway towards a reformviewed fiscal framework, preferably prior to the deactivation of the GEC;
Amendment 73 #
2020/2075(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Calls on the Commission to put forwardrovide guidelines for a transition period until the new fiscal framework is in place, during which time no excessive deficit procMember States during the period of activation of GEC in order to redurce should be activated and with the possibility to use the ‘unusual event clause’ on a country-specific basis torisk of endangering the fiscal sustainability in the medium term prevsent premature fiscal consolidationed;
Amendment 78 #
2020/2075(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Considers that economic indicators and adjustment paths need to be interpreted cautiously, and therefore calls for the code of conduct of the Stability and Growth Pact to be revised vis-à-vis the benchmarks needed to calculate such adjustment needs and paths; sStresses that fiscal guidance should avoid pro-cyclical biases, promote upward convergence and counteract macroeconomic imbalances; calls for special accounting treatment for loans from Next Generation EU (NGEU) related spending;
Amendment 81 #
2020/2075(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Considers that economic indicators and adjustment paths need to be interpreted cautiously, and therefore calls for the Vade Mecum and the code of conduct of the Stability and Growth Pact to be revised vis-à-vis the benchmarks needed to calculate such adjustment needs and paths; stresses that fiscal guidance should avoid pro-cyclical biases, promote upward convergence and counteract macroeconomic imbalances; calls for special accounting treatment for loans from Next Generation EU (NGEU) related spending;
Amendment 87 #
2020/2075(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Calls for a continued expansionary fiscal stance for as long as needed and for it to be shifted ton active, growth supportive fiscal policy and its orientation towards supporting the recovery from the COVID-19 pandemic and a green, digital and inclusive transformation while ensuring fiscal sustainability. Agrees with the Commission’s recommendation that fiscal policy should remain agile and adjust to the evolving situation as warranted;
Amendment 104 #
2020/2075(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls on the Member States to embed the high-quality fiscal support in credibleprepare robust plans for medium- term frameworks, bearing in mind that emergency measures are temporary, limited and targeted; calls on the Member States to monitor fiscal risks, namelyiscal policy, which will assure both anti- cyclical role of fiscal policy not endanger fiscal sustainability in the medium term, but also in “good times” creating sufficient buffers for “bad times”. Attention has to be paid also to contingent liabilities, as appropriate, and local and national;
Amendment 114 #
2020/2075(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Welcomes the policy response of governmentimmediate and coordinated economic policy response of the Union institutions and Member States aimed at avoidreducing a sharp increase in corporate insolvencies and unemployment; warns that an abrupt and uncoordinatedpremature withdrawal of support measures could lead to financial distresshold back the recovery and exacerbate uncertainty in the EU;
Amendment 123 #
2020/2075(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Acknowledges that the general escape clause does not suspend the procedures of the Stability and Growth Pact, neither EU fiscal rules; underlines that all Member States are obliged to comply with the SGP (including of the unusual event provision of the Pact)1a ; Reminds that the general escape clause allows Member States temporarily to depart from the adjustment path towards the medium-term budgetary objective, provided that this does not endanger fiscal sustainability in the medium term, is of the opinion that replenishing fiscal buffers over time will be important to be prepared for future crises; _________________ 1aArticles 5(1) and 9(1) of Regulation (EC) 1466/97 state that “in periods of severe economic downturn for the euro area or the Union as a whole, Member States may be allowed temporarily to depart from the adjustment path towards the medium-term budgetary objective, provided that this does not endanger fiscal sustainability in the medium term”.
Amendment 124 #
2020/2075(INI)
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Notes the temporary activation of the general escape clause under the Stability and Growth Pact, and expects it is activated only as long, as conditions for activation are fulfilled, especially not to remain activated any longer than is necessary in order to support the efforts of the Member States to recover from the pandemic crisis and strengthen their competitiveness and economic and social resilience;
Amendment 125 #
Amendment 126 #
2020/2075(INI)
Motion for a resolution
Subheading 2 b (new)
Subheading 2 b (new)
Achievement of the fiscal rules and improvements in fiscal sustainability
Amendment 127 #
2020/2075(INI)
Motion for a resolution
Paragraph 7 c (new)
Paragraph 7 c (new)
7c. Notes that the EFB evaluation suggests that on average the sustainability of public finances has improved since the six and two-pack reforms and against the backdrop of a protracted period of economic growth; it is a notable achievement that without exception EU national governments have by the time of the issuance of the report complied with the excessive deficit procedure (EDP), that (headline) deficits have been reduced sharply from over 6% to below 1% of GDP on average since their peak of 2010, and that public debt ratios have on average edged downwards since 2014;
Amendment 128 #
2020/2075(INI)
Motion for a resolution
Paragraph 7 d (new)
Paragraph 7 d (new)
7d. Notes that debt sustainability monitor published by the Commission shortly before the pandemic erupted states “The aggregate government debt to GDP ratio of the EU (EA) has been on a declining path since 2014, when it reached a peak of 88.7% of GDP (95.1%). In 2019, this ratio fell to 80.6% of GDP (86.4%)”;
Amendment 129 #
2020/2075(INI)
Motion for a resolution
Paragraph 7 e (new)
Paragraph 7 e (new)
7e. Notes that since the unprecedented economic recession in 2020 and the measures taken in response to the pandemic are set to push the EU debt-to- GDP ratio up to a new peak of around 93.9 % (101.7 % in the euro area) in 2020, with a further increase to around 94.6 % (102.3 % in the euro area) in 2021;
Amendment 130 #
2020/2075(INI)
Motion for a resolution
Subheading 3
Subheading 3
A revamped EU fiscaliew of the macroeconomic legislative framework
Amendment 131 #
Amendment 132 #
2020/2075(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses the importance of complementarity between monetary and fiscala proper and responsible use of fiscal and monetary policies to deliver the required support post-COVID-19 economy and a its readiness to respond to the symmetric crises; stresses that monetary policy should not be overboarded as its primary goal is price stability; considers that the low interest rate environment has implications forreduces pressure on fiscal policy; warns against a premature tightenireliance on extremely low levels of interest rates, as in the future the conditions could change; demands that implications of the low interest rates as well as possible change of monetary and fiscal policinterest rates environment must be properly factored in the analysis of the medium term sustainability of the sovereign debt; stresses, that high and growing stock of debt can lead to increase of risk premium for Member state and such a development can put additional pressure on fiscal policy as well as economy;
Amendment 149 #
2020/2075(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Underlines that there are structural factors are likely to keepthat could keep interest rates low in the longmedium term; considers that macroeconomic policies should address the factors underlying the risk of secular stagnation; by means of implementation of deep, growth and productivity enhancing, balanced and socially just structural reforms; but stresses the need to be ready for less positive scenarios; reminds that secular stagnation is typically characterised by shrinking work force, low demand, excess savings and low investments;
Amendment 151 #
2020/2075(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 152 #
2020/2075(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
Amendment 163 #
2020/2075(INI)
Motion for a resolution
Subheading 5
Subheading 5
A broadercomprehensive sovereign debt sustainability analysis (SDSA)
Amendment 166 #
2020/2075(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Highlights that public debt levels have increased and that some Member States already have a sizeable debt legacy; notes with concern that the average debt- to-GDP ratio of EU Member States will surpass 100% in 2021; notes that circumstances have changed since the Maastricht criteria were defined and that inflation and interest rate levels are considerably lower today; points out that this environment will not necessarily last going forward and that the interest rate environment can change fast, while reducing debt levels may take a considerable period of time;
Amendment 167 #
2020/2075(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Highlights that sovereign debt levels have increasedconsiderably increased reaching nearly 102% of the euro area aggregated debt-to-GDP ratio, with further foreseen increase over 2021 and2022, and that some Member States already have accumulated over long period a sizeable debt legacy; notes that circumstances have changed since the Maastricht criteria were defined and that inflation and interest rate levels are considerably lower; stresses that downside risks associated to the economic growth and sensitivity of the modern economies to the multilateralism has to be taken into account;
Amendment 177 #
2020/2075(INI)
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Is aware that very high budget deficits in 2020, 2021 and nominal GDP loss will be mirrored in the debt-to-GDP ratios;
Amendment 178 #
2020/2075(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that debt service costs are expected to remain low for the foreseeable future and primary deficits are likely to be offset by favourable interest-growth differentials; further considers that as long as the differentials are negative it is possible to sustain and progressively reduce high debt levels; the current status of the low interest rates reducing sovereign debt servicing costs can change relatively fast, while sustainable reduction of the sovereign debt stockpile takes considerably longer time; notes that the benefit of the very low if not negative interest rate environment is an opportunity for substantial reduction of debt to GDP ratio and such opportunity should not be missed;
Amendment 182 #
2020/2075(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Stresses that debt service costs are expectedlikely to remain low for the foreseeablenear future and primary deficits are likely tomay be offset by favourable interest-growth differentials; further considers that as long as the differentials are negative it is possible to sustain and progressively reduce high debt levels; points out though that some Member States have had structural problems to achieve sufficiently high growth rates in the past;
Amendment 192 #
2020/2075(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Recalls, besides structural reforms the importance of growth- enhancing policies and including private and public investment aimed at increasing growth potential and achieving the EU’s objectives, competitiveness, productivity, boosting Single Market and achieving the EU’s strategic goals; Repeats that all public expenditures must take place within fiscal framework, assuring debt and fiscal sustainability;
Amendment 210 #
2020/2075(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Stresses the importance of pursuing a broad and transparent DSA, transparent and thorough debt sustainability assessment in order to set an appropriate country-specific path, using innovative tools and techniques such as stress tests and stochastic analysis to better reflect risks to public debt dynamics;
Amendment 211 #
2020/2075(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Stresses the importance of pursuing aCalls on the Commission to pursue a comprehensive broad and transparent SDSA in order to setcontinue setting an appropriate country-specific path, using innovative tools and techniques such as stress tests and stochastic analysis to better reflect risks to public debt dynamicsand clear and transparent adjustment path;
Amendment 213 #
2020/2075(INI)
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14a. Points out that the metrics at the heart of the economic governance framework must be easily observable and controllable by political decision makers in order to increase transparency and comprehensibility for both policy makers and the public; notes that concepts such as an output gap analysis do not satisfy those criteria;
Amendment 214 #
2020/2075(INI)
Motion for a resolution
Subheading 6
Subheading 6
Amendment 217 #
2020/2075(INI)
15. Calls on the Commission to relaunch the public debate on the reformview of the EU economic governance of the Union with a view to coming forward with a legislative proposal by the end of 2021; calls for a rethink of EU fiscal rules, also in view of the legacies of the pandemic, and supports the EFB’s conclusion that the fiscal framework has to be adaptedif appropriate; invites during the review process of the EU economic governance to consider simplification and improvement of Commission’s autonomy in enforcement of the rules;
Amendment 223 #
2020/2075(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls onInvites the Commission to relaunch the debate on the reformview of the economic governance of the Union with a view to coming forward with a legislative proposal by the end of 2021; calls for a rethink of EU fiscal rules, also in view of the legacies of the pandemic, and supports the EFB’s conclusion that the fiscal framework has to be adapted;
Amendment 234 #
2020/2075(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for the renewed fiscal framework to promote sustainability and cyclical stabilisation and to improve the quality of public expenditure through sustainable investments and reformon the Commission during the review of the EU economic governance to look how to promote further fiscal sustainability and counter- cyclical of the rules; cCalls for well- defined, transparent, simple, flexibleclear, and enforceable rules embedded in a credible and democratic framework that take into account the specificities of Member States and promote upwardframework that reflects the changes in economices and social convergencefinancial markets;
Amendment 245 #
2020/2075(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for the renewed fiscal framework to promote debt sustainability and cyclical stabilisation and to improve the quality of public expenditure through sustainable investments and reforms; calls for well-defined, transparent, simple, flexible and enforceable rules embedded in a credible and democratic framework that take into account the specificities of Member States and promote upward economic and social convergence;
Amendment 253 #
2020/2075(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Suggests focuNotes the EFB proposal to “envisage a sing thle fiscal targets on the achievement of a single credible debt anchor aimed at reducing high debt ratios in a realistic and reasonable period of time and differentiated according to the existing debt level of the Member States; anchor – a debt ratio objective and a declining path towards it – a single indicator of fiscal performance – a ceiling on the growth rate of net primary expenditures for countries with debt in excess of 60% of GDP – and a general escape clause, parsimoniously applied and triggered on the basis of an advice based on an independent economic analysis, provided both by the IFI of the country concerned and a more autonomous Commission staff.”; welcomes that the Maastricht Treaty with this regard establishes a reference value for the public debt of EU Member States at 60% of GDP, and high- debt Member States must ensure that their debt-to-GDP ratio is ‘sufficiently diminishing’ and approaching the reference value ‘at a satisfactory pace’; stresses, that EDP procedure should be always initiated in line with Treaty and Regulations, if there is a clear risk of endangering of fiscal sustainability;
Amendment 260 #
2020/2075(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17a. Reminds that reference values of up to 3 % of planned or actual government deficit and 60 % of debt to GDP are defined by the Treaty on the Functioning of the European Union;
Amendment 264 #
2020/2075(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Proposes anConsiders, that the EFB expenditure rule with a ceiling20 on nominal public expenditure when a country’s public debt exceeds a certain threshold; _________________ 20 can provide more transparent and more stable fiscal rule within EU. A ceiling fixed for 3-5 years that would depend on the expected potential output growth, expected inflation and the distance from the debt anchor.;
Amendment 268 #
2020/2075(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that the country-specific path outcomewith clear Member States ownership will strengthen credibility and fiscal sustainability of Member States should be the result from a transparent analysis and a discussion between each Member States and the European Commission, after a consultation with the EFB in the context of the European Semester; considerrecalls that the expenditure rule should also include a correction mechanism to remove cyclical items;declining path towards the reference value is sustainable if the debt ratio objective decreases over the previous three years at an average rate of one twentieth per year as a benchmark, as stated in the Council Regulation on speeding up and clarifying the implementation of the excessive deficit procedure1a; _________________ 1a Regulation (EU) 1177/2011.
Amendment 274 #
2020/2075(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that the country-specific path outcome should result from a discussion between each Member State and the Commission, after a consultation with the EFB in the context of the European Semester; considers that the expenditure rule should also include a correction mechanism to remove cyclical items;
Amendment 278 #
2020/2075(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Underlines that expenditure rules allow for automatic stabilisers to operate and are under the direct control of the government; argues that while potential output growth is unobservable and has to be estimated, it is less likely to be subject to revisions than the output gap; stresses that in post crisis period uncertainty around output gap will be even higher than in the past; notes that according to the EFB “the net primary expenditure ceiling has a built-in automatic stabilising property: when actual output grows more slowly than at the trend rate of potential output, net primary expenditure growth will exceed the latter, while a rising expenditure to GDP ratio will help to stabilise the economy; vice versa, when actual GDP grows faster than trend, net expenditures will shrink as a share of GDP.”;
Amendment 287 #
2020/2075(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Proposes, to consider in line with the EFB, ‘ onea general escape clause, triggered based on independent economic judgement’o be parsimoniously applied following a demarcation of the underlying independent economic analysis, the policy recommendation by the Commission and the ultimate decision by the Council;
Amendment 299 #
2020/2075(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
22. Shares theNotes EFB’s opinion that sustainableome specific growth-enhancing public investments shexpenditure would be exemptcluded from the expenditure rule, in particular those investments that arnet primary expenditure growth ceiling; and that the EFB proposes that Member States could voluntarily top-up expenditures on projects, already identified by the EU budget, beyond their co-financing commitments - these could then be deducted from the caligned with the EU’s long-term objectives of the NGEUculation of the net primary expenditures; insists that clear and enforced fiscal rules must represent the framework for fiscal policy and an exclusion or deviation, unless taking place in a clearly defined situation within framework;
Amendment 317 #
2020/2075(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Stresses that governments’ revenues are essential to guaranteean important part of the sustainability of public finances and their stability can help to credible strategy of reduction of the sovereign debt; calls on the Member States to take action towhich would further tackle tax fraud, tax avoidance, and tax evasion, as well as money laundering; stresses the need to assure responsible expenditures policy to avoid pressure to increase taxes, as this could, especially in case of labour tax, represent a negative factor for economic growth;
Amendment 327 #
2020/2075(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Agrees with the opinion of the EFB and others21 that a deepening of the Economic and Monetary Union (EMU) would be helped by a central fiscal capacity, which could help cushion idiosyncratic shocks, whether commNotes EFB “has been a strong advocate of introducing a common fiscal capacity at the European level, while one or country-specific, in a timely manner; _________________ 21 International Monetary Fund and the European Central Bank.f the eligibility criteria to access funds could be compliance with the EU fiscal rules”;
Amendment 339 #
2020/2075(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Welcomes the creation of the NGEU, which is financed through debt issuance guaranteed by the EU budget; underlines that EU-issuance debt22 will provide a new supply of European high- quality assets, which is a step towards a permanent EU safe asset; stresses the importance of a transparent plan of repayment of the debt NGEU & SURE bonds; _________________ 22 NGEU & SURE bonds.
Amendment 342 #
2020/2075(INI)
25. Welcomes the creation of the NGEU, which is financed through debt issuance guaranteed by the EU budget; underlines that EU-issuance debt22 will provide a new supply of European high- quality assets, which is a step towards a permanent EU safe asset; _________________ 22 NGEU & SURE bonds.
Amendment 347 #
2020/2075(INI)
Motion for a resolution
Subheading 7
Subheading 7
Amendment 349 #
2020/2075(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Stresses the importance of the MIP in identifying and taking preventive and corrective actions against emerging imbalances; points out, however, that the potential of this mechanism has not been fully exploited on account of its structural weaknesses; acroeconomic Imbalance Procedure (MIP) detecting macroeconomic imbalances and taking preventive and corrective actions, with the Commission proposing transparently to the Council to activate an “excessive imbalance procedure” (EIP); agrees with the findings of the European Court of Auditors , that although the MIP is generally well designed, the Commission is not implementing it in such a way as to ensure the effective prevention and correction of imbalances1a; further notes the classification of Member States with imbalances lacks transparency, and there is lack of public awareness of the procedure and its implications2b; _________________ 1aSpecial report no 03/2018: Audit of the Macroeconomic Imbalance Procedure (MIP), European Court of Auditors. 2bSpecial report no 03/2018: Audit of the Macroeconomic Imbalance Procedure (MIP), European Court of Auditors.
Amendment 357 #
2020/2075(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Stresses the importance of the MIP in identifying and taking preventive and corrective actions against emerging imbalances; points out, however, that the potential of this mechanism has not been fully exploited on account of its structural weaknessespoor enforcement;
Amendment 363 #
2020/2075(INI)
Motion for a resolution
Paragraph 26 a (new)
Paragraph 26 a (new)
Amendment 364 #
2020/2075(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Calls for the MIP to be reformed to make its indicatorsa more effective use of the Alert Mechanism Report (AMR), while welcomes the detailed and recommendations more forward-looking and symmetrical wiprehensive analysis underpinning the regard to over- and undershooting target values, and to focus on indicators underport; insists that existing macroeconomic imbalance procedure scoreboard, must be focused; data based and transparent; recalls that the countrol of policymakers and geared towards reducing intra-euro area imbalances;y- specific recommendations are forward looking guidance addressed to Member States; but considers that greater compliance with pared-back recommendations must be achieved and MIP-relevant country-specific recommendations should focus on policy actions that can have a direct impact on imbalances;
Amendment 376 #
2020/2075(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
Amendment 382 #
2020/2075(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Underlines the importance of the EU institutional framework and of the community method to set and effectively enforce the rules and to safeguard and enhance strong political ownership and legitimacy;
Amendment 383 #
2020/2075(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Underlines the importance of the EU institutional framework and of the community method to set and enforce the rules and to safeguard and enhance strong political ownership and legitimacy;
Amendment 393 #
2020/2075(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. CRecalls for a renewedthat the European Semester as the main economic and social policy coordination framework supporting the EU’s long-stcycle is a well-established framework for EU Member States to coordinate their budgetary and economic policies across the European Union; calls for a proper involvement of the Europeand ing goals of sustainability and upward convergence with stronger national ownership; calls for more rigorous democratic scrutiny and for Parliament’s full involvement in defining the overarching goals and the guidance the process of the European Semester; Highlights the importance of the full debate defining the overarching goals and guidance; stresses the importance for respect of fiscal rules and the framework by Member States in order to enhance credibility and support sustainability; invites the Commission to keep both the European Parliament and the Council, as co-legislators, equally well informed on all aspects relating to the application of the EU economic governance framework, including on the preparatory stages;
Amendment 400 #
2020/2075(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Calls for a renewed European Semester as the main economic and social policy coordination framework supporting the EU’s long-standing goals of fiscal sustainability and upward convergence with stronger national ownership; calls for more rigorous democratic scrutiny and for Parliament’s full involvement in defining the overarching goals and the guidancethe European Semester to focus on fiscal discipline, competitiveness and structural reforms;
Amendment 407 #
2020/2075(INI)
Motion for a resolution
Paragraph 30 a (new)
Paragraph 30 a (new)
Amendment 410 #
2020/2075(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. CRecalls for the EU’s macroeconomic dialogue to bethat in line with the legislation, the competent committee of the European Parliament may invigorated through dialogue at euro-area and national level with repe President of the Council, the Commission and, where appropriate, the Presidentatives of government, employer federations and trade unions and to envisage at both levels exchanges with the central banks of the European Council or the President of the Eurogroup to appear before the committee concerned;
Amendment 414 #
2020/2075(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
Amendment 416 #
2020/2075(INI)
Motion for a resolution
Paragraph 32
Paragraph 32
32. Calls for more involvement of national productivity councilsSuggests to consider better involvement of Independent Fiscal Institutions (IFIs), where appropriate in the MIP process;
Amendment 421 #
2020/2075(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
Amendment 432 #
2020/2075(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
34. Recalls its position23 that an ‘additional budgetary capacity for the euro area’ should be included in the fiscal capacity; preventing permanent transfers, moral hazard and unsustainable public risk sharing; _________________ 23European Parliament resolution of 16 February 2017 on budgetary capacity for the euro area, OJ C 252, 18.7.2018, p. 235.
Amendment 442 #
2020/2075(INI)
Motion for a resolution
Paragraph 35
Paragraph 35
Amendment 449 #
2020/2075(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. Calls forNotes that the Eurogroup’s decision- making process to be reassessed to include appropriate democratic accountability; calls for the Chair of the Eurogroup to be one of the Commission Vice-Presid is informal intergovernmental forums of discussion; calls for the Eurogroup’s decision-making process to be more transparents;
Amendment 451 #
2020/2075(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. Calls for the Eurogroup’s decision- making process to be reassessed to include appropriate democratic accountability; calls for the Chair of the Eurogroup to be one of the Commission Vice-Presidents;
Amendment 459 #
2020/2075(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. RecCalls its call for the ESM to be integrated into EU law under the Community method;for the integration of intergovernmental Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (the "Fiscal Compact") in the Union law.
Amendment 8 #
2020/2043(INI)
Draft opinion
Paragraph 1
Paragraph 1
1. Believes that the main aims of the carbon border adjustment mechanism (CBAM) should be to support the EU’s green objectives by fighting carbon leakage; and creating a level playing field between domestic and foreign producers, which would promote the competitiveness of companies based in the EU and low- carbon production within the EU.
Amendment 31 #
2020/2043(INI)
Draft opinion
Paragraph 2
Paragraph 2
2. Proposes that the CBAM be implemented as an extension of complementary measure to the EU emissions trading system (EU ETS), which would require importers to purchase allowances from a specific virtual pool mirroring the EU carbon price, as long as third countries do not have a cap and trade system comparable to the EU ETS for the volume of carbon emissions incorporated in their products; notes that the mechanism should ensure a single carbon price, both for domestic producers and importers;
Amendment 43 #
2020/2043(INI)
Draft opinion
Paragraph 3
Paragraph 3
3. Urges that the proposed CBAM apply to all imports in order to avoid distortion in the internal marketConsiders that a CBAM should cover all imports, but that as a starting point already by 2023 it should cover the power sector and energy-intensive industrial sectors like cement, steel, chemicals and fertilisers, which still represent 94% of Union industrial emissions;
Amendment 64 #
2020/2043(INI)
Draft opinion
Paragraph 4
Paragraph 4
4. Recommends that a design be introduced that measures the carbon content of imports through their basic materials composition (as outlined in the proposal from the European Economic and Social Committee); recalls that this feasible approximation would weigh each basic material covered by the EU ETS and multiply it by its carbon intensity value – which ideally should be defined at country level; stresses, however, that importers who are more carbon efficient should be allowed to demonstrate the specific carbon intensity of their products;producer level, which will reward firms by its carbon efficiency; whereas, should this not be feasible, the country level with possible adjustment for different levels of carbon efficiency should be used.
Amendment 75 #
2020/2043(INI)
Draft opinion
Paragraph 5
Paragraph 5
5. Requests that the implementation of the CBAM should lead to the progressive phasing out of the free allocation of allowances, following an appropriate transition period, since the mechanism ensures that EU producers and importers would have to deal with the same carbon costs in the EU market; notes that this phasing out should be coupled in parallel with the introduction of export rebates in order to maintain strong decarbonisation incentives, while ensuringese measures do not ensure a level playing field for EU exporters; asks European Commission to propose a set of measures, which will ensure strong incentives for decarbonisation outside and within the EU, to provide a level playing field for EU exports;.
Amendment 80 #
2020/2043(INI)
Draft opinion
Paragraph 6
Paragraph 6
6. Stresses that importers from third countries should not pay twice for the carbon content embodied in its products; asks European Commission to carry out risk assessment and propose ways to mitigate it.
Amendment 90 #
2020/2043(INI)
Draft opinion
Paragraph 7
Paragraph 7
7. Calls for the inclusion of CBAM revenues into the EU budget; being an environmental measure, the CBAM revenues could be used to co-finance projects that foster technological and energetic transition as well as research on low-carbon projects and further projects in line with the Union`s environmental ambitions;
Amendment 104 #
2020/2043(INI)
Draft opinion
Paragraph 8
Paragraph 8
8. Believes that the above proposal ishould be compatible with the World Trade Organization rules, since it doeshould not discriminate between producers, isand be based on objective criteria and hasve a clear environmental objective.
Amendment 15 #
2020/2037(INI)
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas the euro is currently supported as common currency by a majority of citizens in all 19 euro area Member States1a; _________________ 1aAccording to EC Flash Eurobarometer 481 of November 2019 the support for the euro has increased: two thirds of respondents think that having the euro is a good thing for their country, a proportion higher than in 2018 in 13 countries (and lower in four countries).
Amendment 16 #
2020/2037(INI)
Motion for a resolution
Recital A b (new)
Recital A b (new)
Ab. whereas the euro is the official currency of the euro area, currently comprised of 19 out of 27 EU member states; whereas Bulgaria, Croatia and Denmark have anchored their currencies to the euro through the Exchange Rate Mechanism (ERM II); whereas the euro is also the official currency1b, or “de facto” currency 1c of certain non-EU territories; _________________ 1bThe euro is used as official currency, on the basis of a formal arrangement with the European Union, by the Principality of Monaco, the Republic of San Marino, the Vatican City State the Principality of Andorra, as well as by Saint-Piette-et- Miquelon and the Island of Saint- Barthelemy which are both non-EU French overseas territories 1cThe euro became a de facto domestic currency in Kosovo and Montenegro, replacing the use of German mark, which was previously used as the de facto currency in these areas.
Amendment 18 #
2020/2037(INI)
Motion for a resolution
Recital B
Recital B
B. whereas despite the euro area’s economic size and influence in global trade, the use of the euro lags behind the US dollar by a wide margin, yet it is still ahead of all other competing currencies; as a medium of exchange2a, store of value2b, and unit of account2c for invoicing goods at global level, but ranks almost equally compared to the dollar in terms of proportion of international payments; whereas the euro remains the second most important currency in the international monetary system, ahead of all other competing currencies; _________________ 2aAccording to the June 2020 ECB report on “the international role of the euro” the share of the euro in the stock of international debt securities amounted to 22% at the end of 2019, after declining since themid-2000s, while that of the US dollar kept on increasing, being about 64%; 2bAccording the latest IMF COFER data release (30 September 2020), in 2020 the worldwide reserves in euro amounted to 20.27%, compared to 61.26% held in US dollars and 2.05% held in renminbi; 2c The use of the euro as an invoicing currency corresponds to 30% of global trade transactions in goods, but its use is still limited when transactions do not involve the euro area, unlike the US dollar;
Amendment 37 #
2020/2037(INI)
Ea. whereas a broad combination of factors determines the role of international currency; on the one hand the size of the euro area economy and free movement of capital fulfil basic prerequisites allowing to strengthen international role of euro, while on the other hand financial and capital markets remain fragmented and heavily bank based, fiscal architecture of the euro area is incomplete and a reliable supply of high quality assets to be used by global investors is inadequate;
Amendment 39 #
2020/2037(INI)
Motion for a resolution
Recital E b (new)
Recital E b (new)
Eb. whereas the pandemic situation has accelerated the digital transformation of finance, to underpin a strong international role of the Euro it is important that Europe develops digital finance and payments, with strong European players in the lead;
Amendment 56 #
2020/2037(INI)
Motion for a resolution
Recital H a (new)
Recital H a (new)
Ha. whereas the crisis has generated a unique opportunity to move towards developing a digital euro, which will make the European currency better fit for the digital world, enabling the euro to expand in the area of digital payments, becoming easier to use, less costly and more efficient;
Amendment 64 #
2020/2037(INI)
Motion for a resolution
Recital I
Recital I
I. whereas new powers to issue recovery debt, including green bonds – which could make the EU the world’s biggest issuer of such debt –, require adequate implementation and enforcement capacities so as to avoid undermining the long-term credibility of the euro as a safe asset currency;
Amendment 87 #
2020/2037(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Considers that, while not all the effects of the internationalisation of the euro can be easily quantified, strengthening the international role of the euro can generate benefits both in the short and long term; notes, however, that it also brings risks and responsibilities that must be taken into consideration in the process of complementing market forces with policy measures; underlines, in particular, that the international currency status of the euro can enhance monetary policy autonomy and reinforce its global transmission, make the euro more of an attractive investment, and provide exorbitant privilegeincrease the use of the euro as a reserve of value , lower external financing costs as well as provide a smooth adjustment of macroeconomic imbalances and lower exchange rate pass- through.;
Amendment 90 #
2020/2037(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Underlines that a stronger euro will provide additional choice to market operators globally; gradually create deeper, more liquid and integrated European financial markets, which would provide for more reliable access to finance for European business and governments; improving in turn the overall resilience of the international financial system and economy, making them less vulnerable to exchange rate shocks; stresses that for those benefits to materialize a well-orchestrated policy efforts at European and national levels are needed, including contribution from ECB, SRB, ESAs, EIB.
Amendment 91 #
2020/2037(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Contemplates that the internationalisation of the euro could become a key factor in laying the foundation for a revitalised international monetary system, which will continue to rely on a limited number of currencies, making it more balanced and sustainable;
Amendment 96 #
2020/2037(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Points out that, in order for the potential benefits from the strengthened role of the euro to materialise, the Union has to complete the as yet unfinished infrastructure for the common currency and make more progress on its critical functions;
Amendment 109 #
2020/2037(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Recalls the progress made in building the Banking Union and takes note of the agreement reached in the Eurogroup on the reform of the European Stability Mechanism and the advancement of the entry into force of the common backstop to the Single Resolution Fund; welcomes the ongoing review by the Commission of the crisis management and deposit insurance framework to increase the efficiency, proportionality and overall coherence of the framework to manage bank crises in the EU;
Amendment 111 #
2020/2037(INI)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Recalls that the Banking Union still lacks a deposit insurance framework, as well as a mechanism to ensure that liquidity can be provided to a bank in resolution; takes note of the request by the Euro Summit of 11 December to the Eurogroup to prepare a stepwise and time-bound work plan on all outstanding elements needed to complete the Banking Union;
Amendment 112 #
2020/2037(INI)
Motion for a resolution
Paragraph 3 c (new)
Paragraph 3 c (new)
3c. Finalising the banking union, and most notably putting in place a system to guarantee and protect EU bank deposits and the completing the mechanism dealing with failing banks, will strengthen the international role of euro;
Amendment 115 #
2020/2037(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Underlines that making moreStresses that a stronger role of the euro requires support from deep and liquid euro denominated capital markets; underlines that progress in developing the CMU would increase both resilience to and independence from global developments and the attractiveness of euro-denominated assets; deplores the underdevelopment and segmentation of the euro area’s capital markets along national lines, which has resulted in small-sized markets; considers Brexit, in that regard, as both challenge and opportunity; calls for the reduction of national options and discretions in order to reduce cross-border barriers; further invites efforts to begin gradual and phased in minimum harmonisation of national insolvency rules;
Amendment 118 #
2020/2037(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Underlines that a stronger role of the Euro in the digital age must be underpinned by innovative digital finance solutions and effective digital payments in euro, with strong European players in the lead, and calls to promote this through implementing comprehensive strategies on digital finance and retail payments; Considers that in view of the digital transformation, the EU should put in place a framework with high standards of cybersecurity, including on the protection of privacy and on data protection, and ethically designed artificial intelligence;
Amendment 131 #
2020/2037(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Emphasises the need for sustainable and sound fiscal and structural growth- enhancing policies that are based on a commitment to credible fiscal rules; calls for further reflection on the adequacy of the stability and growth pact framework despite the challenging circumstances; supports the plan outlined in Next Generation EU plan to use, in addition to monetary policy, a fiscal impulse, notably borrowing EUR 750 billion from capital markets bonds to finance the recovery and green transition, in addition to the issuance of EUR 100 billion in ‘social’ bonds under the European instrument for temporary support to mitigate unemployment risks in an emergency (SURE), which is intendaimed ato preserveing employment; applauds the high level of interest that investors have demonstrated in European bonds; vestors' interest in European bonds; notes that an efficient and developed financial system based on a large variety of financial instruments, well developed capital markets and liquid safe assets can strengthen the international role of the currency; considers in this context, that the Next Generation EU Recovery fund can become a useful instrument to improve the functioning of currently fragmented sovereign debt markets, facilitate the completion of the Banking Union and support progress towards Capital Markets Union;
Amendment 140 #
2020/2037(INI)
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Takes note of the EU green bonds, as an important element of the Recovery Fund; reiterates that the green bonds are debt instruments whose proceeds aim at financing sustainable and environmentally friendly investments; urges the Commission and Member States to provide investors with a strong degree of legal certainty that their investment will be used to the intended ends;
Amendment 143 #
2020/2037(INI)
Motion for a resolution
Paragraph 5 b (new)
Paragraph 5 b (new)
5b. Encourages the EIB to issue a larger number of euro-denominated bonds, which would improve the availability of risk free assets denominated in euro;
Amendment 144 #
2020/2037(INI)
Motion for a resolution
Paragraph 5 c (new)
Paragraph 5 c (new)
5c. Insists that the European Parliament should be granted stronger democratic role through political control in this process;
Amendment 145 #
2020/2037(INI)
Motion for a resolution
Paragraph 5 d (new)
Paragraph 5 d (new)
5d. The recent experience with SURE issuance confirms that the collective borrowing strengthen the trust in euro and makes it more attractive; acknowledges, therefore, that financing the recovery plan through a collective response to a common shock is the right approach;
Amendment 152 #
2020/2037(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Highlights that an adequate supply of safe assets is a precondition for international currency status, and expresses its regret at the limited availability of euro- denominated safe assets; underlines, therefore, the need to createconsiders that the development of adequate policy tools could facilitate the supply of European safe assets; considerbelieves that the proposed issuance of a common debt to finance recovery will provide an EU-level reserve asset benchmark and increase the supply of euro-denominated safe assets; expects the ECB to conduct in due course an assessment of the possibility of issuing certificates of deposit under its existing legal basis;
Amendment 158 #
2020/2037(INI)
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Stresses the irreversible nature of the single currency; emphasises that the euro is not only a monetary project but also a political one;
Amendment 159 #
2020/2037(INI)
Motion for a resolution
Paragraph 6 c (new)
Paragraph 6 c (new)
6c. Draws attention to the requirement, laid down in the Treaties, for every Member State, except for Denmark, to adopt the single currency once they have met the Maastricht convergence criteria; welcomes Bulgaria and Croatia’s entry into ERMII in July 2020 and supports a swift target date for the adoption of the euro in both countries; encourages, in that regard, the European Commission to assess the potential impact of the further enlargement of the euro area on the process of strengthening the international role of euro;
Amendment 173 #
2020/2037(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Is concerned that EMU’swith the lack of ability of the EMU to speak as a unified voice within international institutions can hold back the international role of euro; reiterates the need for a more streamlined and codified representation of the EU in multilateral organisations and bodies, and most notably in the International Monetary Fund to help foster the euro’s global outreach;
Amendment 196 #
2020/2037(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that the global prominence of a currency is directly linked to the role that the issuing country has in global trade; stresses that the EU, as one of the world’s largest trading blocs, would benefit from a strengthened international role of its currency; underlines that stimulating the choice of the euro in trade will reduce exchange risk and other currency-related costs, especially for European SMEs; observes, however, that despite their position as large buyers and producers, European companies sometimes opt to trade in key strategic markets in US dollars or face difficulties for trading in euros due to market structures and path- dependencies; takes note of conducted studies that show that share of euro in invoicing by companies depends on many factors including the size of the company and the country it is located in, the homogeneity of goods and the existing supply chains; calls, therefore, on the Commission to foster the use of the euro in pricing and invoicing in trade transactions, and to make use of the high potential offered by financial instruments denominated in euros, by actively engaging with private stakeholders and trade partners and by promoting the use euro in EU trade agreements; points, in this context, to the potential offered by supply chains;
Amendment 198 #
2020/2037(INI)
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Stresses in that regard the importance of global green energy and commodity markets as forerunners for globally traded goods denominated in euro, where hydrogen and EUAs under the EU-ETS help strengthening the role of the euro in international trade, as well as achieving the EU climate objectives; further calls for action to facilitate new innovative contracts, in particular related to sustainable energy sources and nascent energy markets, which will provide an opportunity for more energy contracts to be traded in euro, strengthening, thus, the international role of the euro; encourages the Commission to continue conducting consultation and studies aiming at identifying the potential to increase the use and role of euro in other sectors, notably with transport means, including in particular aircraft manufacturing, agriculture and food commodities, or metals and minerals; to further support and promote the use of euro for this type of contracts, calls the Commission, in addition to private engagement, to revisit the financial market rules, including MiFID and Benchmarks Regulations;
Amendment 204 #
2020/2037(INI)
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12b. Holds that the European Commission could further promote the use of the euro in trade pricing and invoicing, and promote euro-denominated investments, by maintaining an open dialogue with private and public stakeholders, national authorities and institutional investors, providing comprehensive knowledge and understanding for its initiatives and various efforts aimed at reinforcing the attractiveness and resilience of the euro area and the euro;
Amendment 206 #
2020/2037(INI)
Motion for a resolution
Paragraph 12 c (new)
Paragraph 12 c (new)
12c. Finds merit in maximizing the impact of European economic diplomacy by engaging in regular exchanges with G20 partners, as well as neighbourhood and enlargement countries, to identify concrete policy actions of mutual interest;
Amendment 208 #
2020/2037(INI)
Motion for a resolution
Paragraph 12 d (new)
Paragraph 12 d (new)
12d. Recognises that the market for centralised clearing is highly concentrated, in particular the market for the clearing of euro denominated interest rate derivatives which heavily depends on UK CCPs; takes note of the recently adopted time-limited equivalence decision of the Commission for UK CCPs and encourages the industry to follow the European Commission’s call to reduce their excessive exposures to UK CCPs promptly; supports in that regard the efforts of the EU CCPs to build up their clearing capability as well as the efforts of the European Commission, the European Supervisory Authority and the European Central Bank to assist the industry in identifying and addressing in the coming months any technical impediment to the transfer of a significant part of the excessive exposure it has to UK CCPs into the EU;
Amendment 210 #
2020/2037(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Stresses the role the ECB plays in maintaining trust in the euro and safeguarding monetary sovereignautonomy in the global context and price stability; welcomes the prompt measures put in place by the ECB in order to cater forsafeguard the availability of euro liquidity; underlines the prominence of swap arrangements and repo lines in enhancing the international role of the euroaddressing dysfunctions in euro funding markets globally and indirectly enhancing the international role of the euro; signalling a commitment of the Eurosystem to support the liquidity and stability of the financial markets in times of crisis ,as well as, the smooth transmission of its monetary policy in the euro area; calls on the ECB, in that regard, to further expand its swap lines to non-euro area neighbouring countries and beyond;
Amendment 227 #
2020/2037(INI)
Motion for a resolution
Paragraph 15 a (new)
Paragraph 15 a (new)
15a. Calls on the Commission to put forward a comprehensive strategy to strengthen Europe’s economic and financial autonomy; building on the efforts to strengthen the international role of the euro;
Amendment 140 #
2020/0361(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) Therefore, in order to safeguard and improve the functioning of the internal market, a targeted set of uniform, effective and proportionate mandatory rules should be established at Union level. This Regulation provides the conditions for innovative digital services to emerge and to scale up in the internal market. The approximation of national regulatory measures at Union level concerning the requirements for providers of intermediary services is necessary in order to avoid and put an end to fragmentation of the internal market and to ensure legal certainty, thus reducing uncertainty for developers and fostering interoperability. By using requirements that are technology neutral, innovation and the competitiveness of European companies should not be hampered but instead be stimulated.
Amendment 216 #
2020/0361(COD)
Proposal for a regulation
Recital 43
Recital 43
(43) To avoid disproportionate burdens, the additional obligations imposed on online platforms under this Regulation should not apply to micro or small enterprises as defined in Recommendation 2003/361/EC of the Commission,41 unless their reach and impact is such that they meet the criteria to qualify as very large online platforms under this Regulation. The consolidation rules laid down in that Recommendation help ensure that any circumvention of those additional obligations is prevented. The exemption of micro- and small enterprises from those additional obligations should not be understood as affecting their ability to set up, on a voluntary basis, a system that complies with one or more of those obligations. In this regard, the Commission and Digital Service Coordinators may work together on information and guidelines for the voluntary implementation of the provisions in this Regulation for micro or small enterprises. Furthermore, the Commission and Digital Services Coordinators are also encouraged to do so for medium enterprises, which while not benefitting from the liability exemptions in Section 3, may sometimes lack the legal resources necessary to ensure proper understanding and compliance with all provisions. _________________ 41 Commission Recommendation 2003/361/EC of 6 May 2003 concerning the definition of micro, small and medium- sized enterprises (OJ L 124, 20.5.2003, p. 36).
Amendment 240 #
2020/0361(COD)
Proposal for a regulation
Recital 54
Recital 54
(54) Very large online platforms may cause societal risks, different in scope and impact from those caused by smaller platforms. Once the number of recipients of a platform reaches a significant share of the Union population, the systemic risks the platform poses have a disproportionately negative impact in the Union. Such significant reach should be considered to exist where the number of recipients exceeds an operational threshold set at 45 million, that is, a number equivalent to 10% of the Union population. The operational threshold should be kept up to date through amendments enacted by delegatedislative acts, where necessary. Such very large online platforms should therefore bear the highest standard of due diligence obligations, proportionate to their societal impact and means. Provisions should also exist for Member States to request for the Commission to assess if an online platform that does not meet the threshold of 45 million active monthly users may still cause significant and systemic societal risks. While an online platform may not meet the quantitative criteria to be designated as a very large online platform, it may meet qualitative criteria. In such cases, the Digital Services Coordinator of establishment may require the online platform to fulfil part of the obligations set out in Section 4 for a limited number of time until the risk has abated.
Amendment 258 #
2020/0361(COD)
Proposal for a regulation
Recital 61
Recital 61
(61) The audit report should be substantiated, so as to give a meaningful account of the activities undertaken and the conclusions reached. It should help inform, and where appropriate suggest improvements to the measures taken by the very large online platform to comply with their obligations under this Regulation, without prejudice to its freedom to conduct a business and, in particular, its ability to design and implement effective measures that are aligned with its specific business model. The report should be transmitted to the Digital Services Coordinator of establishment and the Board without delay, together with the risk assessment and the mitigation measures, as well as the platform’s plans for addressing the audit’s recommendations. The report should include an audit opinion based on the conclusions drawn from the audit evidence obtained. A positive opinion should be given where all evidence shows that the very large online platform complies with the obligations laid down by this Regulation or, where applicable, any commitments it has undertaken pursuant to a code of conduct or crisis protocol, in particular by identifying, evaluating and mitigating the systemic risks posed by its system and services. A positive opinion should be accompanied by comments where the auditor wishes to include remarks that do not have a substantial effect on the outcome of the audit. A negative opinion should be given where the auditor considers that the very large online platform systematically does not comply with this Regulation or the commitments undertaken. A disclaimer of an opinion should be given where the auditor does not have enough information to conclude on an opinion due to the novelty of the issues audited.
Amendment 301 #
2020/0361(COD)
Proposal for a regulation
Recital 100
Recital 100
(100) Compliance with the relevant obligations imposed under this Regulation should be enforceable by means of fines and periodic penalty payments. To that end, appropriate levels of fines and periodic penalty payments should also be laid down for systemic non-compliance with the relevant obligations and breach of the procedural rules, subject to appropriate limitation periods. A systematic infringement is a pattern of online harm that, when the individual harms are added up, constitutes an aggregation of systemic harm to active recipients of the service across three or more EU Member States.
Amendment 356 #
2020/0361(COD)
Proposal for a regulation
Article 8 – paragraph 2 – subparagraph 1 (new)
Article 8 – paragraph 2 – subparagraph 1 (new)
In extraordinary cases, where the intermediary service has reasonable doubt that the removal order is not legally sound, the intermediary service should have access to a mechanism to challenge the decision. This mechanism shall be established by the Digital Services Coordinators in coordination with the Board and the Commission.
Amendment 415 #
2020/0361(COD)
Proposal for a regulation
Article 16 – paragraph 1 – subparagraph 1 (new)
Article 16 – paragraph 1 – subparagraph 1 (new)
The Commission and Digital Service Coordinators may work together on information and guidelines for the voluntary implementation of the provisions in this Regulation for micro or small enterprises within the meaning of the Annex to Recommendation 2003/361/EC.
Amendment 416 #
2020/0361(COD)
Proposal for a regulation
Article 17 – paragraph 1 – introductory part
Article 17 – paragraph 1 – introductory part
1. Online platforms shall provide to all recipients of the service, for a period of at least six months following the decision referred to in this paragraph, the access to an effective internal complaint-handling system, which enables the complaints to be lodged electronically and free of charge,. Complaints can be filed against the following decisions taken by the online platform on the ground that the information provided by the recipients is illegal content or incompatible with its terms and conditions:
Amendment 421 #
2020/0361(COD)
Proposal for a regulation
Article 17 – paragraph 1 – subparagraph 1 (new)
Article 17 – paragraph 1 – subparagraph 1 (new)
Complaints can also be lodged against decisions made by the online platform to not remove, not disable, not suspend and not terminate access to accounts.
Amendment 439 #
2020/0361(COD)
Proposal for a regulation
Article 19 – paragraph 2 – point b
Article 19 – paragraph 2 – point b
(b) it represents collective interests and is independent from any online platform except in the cases of businesses with a vested interest in flagging counterfeit products of their brand thus ensuring the online consumer experience is safer and more reliable;
Amendment 447 #
2020/0361(COD)
Proposal for a regulation
Article 19 – paragraph 6
Article 19 – paragraph 6
6. The Digital Services Coordinatorauthority that awarded the status of trusted flagger to an entity shall revoke that status if it determines, following an investigation either on its own initiative or on the basis information received by third parties, including the information provided by an online platform pursuant to paragraph 5, that the entity no longer meets the conditions set out in paragraph 2. Before revoking that status, the Digital Services Coordinator shall afford the entity an opportunity to react to the findings of its investigation and its intention to revoke the entity’s status as trusted flagger
Amendment 468 #
2020/0361(COD)
Proposal for a regulation
Article 22 – paragraph 1 – subparagraph 1 (new)
Article 22 – paragraph 1 – subparagraph 1 (new)
Online platforms that facilitate the sale of harmonised consumer goods between a seller in a third country and a consumer in the EU and where there is no other manufacturer or importer in the EU, should verify that the product bears the required conformity mark (CE mark) and that it has other relevant documents (e.g. EU declaration of conformity). Traders from within the Union and from third countries should also have the option to voluntarily upload the relevant documents certifying that their goods meet the consumer protection standards of the EU. If the traders choose to do so, online platforms may then show proof of these documents to users as part of the user interface to instil more consumer confidence in the distance contracts conducted on their platforms.
Amendment 491 #
2020/0361(COD)
Proposal for a regulation
Article 25 – paragraph 2 – subparagraph 1 (new)
Article 25 – paragraph 2 – subparagraph 1 (new)
Member States may request for the Commission to assess if an online platform that does not meet the threshold of 45 million active monthly users set out in Paragraph 1 may still cause significant and systemic societal risks. While an online platform may not meet the quantitative criteria to be categorised as a Very Large Online Platform, it may meet at least two of the following qualitative criteria: (a) it has a significant impact on the internal market; (b) it operates a core platform service which serves as an important gateway for business users to reach end users; (c) it enjoys an entrenched and durable position in its operations or it is foreseeable that it will enjoy such a position in the near future; (d) it repeatedly and systemically fails to take down illegal content, as evidenced in its transparency reporting as per Articles 13 and 24. If the Commission finds that the online platform does pose significant and systemic societal risks based on the above criteria, the Digital Services Coordinator of establishment may require the online platform to fulfil part of the obligations set out in Section 4 for a limited number of times until the risk has abated.
Amendment 515 #
2020/0361(COD)
Proposal for a regulation
Article 27 – paragraph 2 – subparagraph 1 (new)
Article 27 – paragraph 2 – subparagraph 1 (new)
(c) measures taken by the Digital Service Coordinators, the Board and the Commission to ensure that highly sensitive information and business secrets are kept confidential.
Amendment 520 #
2020/0361(COD)
Proposal for a regulation
Article 28 – paragraph 1 – subparagraph 1 (new)
Article 28 – paragraph 1 – subparagraph 1 (new)
Digital Services Coordinators shall provide very large online platforms under their jurisdiction with an annual audit plan outlining the key areas of focus for the upcoming audit cycle.
Amendment 560 #
2020/0361(COD)
Proposal for a regulation
Article 39 – paragraph 1 – subparagraph 1 (new)
Article 39 – paragraph 1 – subparagraph 1 (new)
Member States shall designate the status of Digital Services Coordinator based on the following criteria: (a) the authority has particular expertise and competence for the purposes of detecting, identifying and notifying illegal content; (b) it represents collective interests and is independent from any online platform; (c) it has the capacity to carry out its activities in a timely, diligent and objective manner.
Amendment 77 #
2020/0353(COD)
Proposal for a regulation
Citation 5 a (new)
Citation 5 a (new)
Having regard to the report of the Joint Research Centre (JRC)23a, _________________ 23a Huisman, J., Bobba, S.,“Available for Collection” study on alternative collection targets for waste portable and light means of transport batteries, EUR 30746 EN, Publications Office of the European Union, Luxembourg, 2021, ISBN 978-92- 76-39084-8, doi:10.2760/64633, JRC125615.
Amendment 78 #
2020/0353(COD)
Proposal for a regulation
Recital 2
Recital 2
(2) Batteries are thus an important source of energy and one of the key enablers for sustainable development, green mobility, clean energy and climate neutrality. It is expected that the demand for batteries will grow rapidly in the coming years, notably for electric road transport vehicles using batteries for traction, making this market an increasingly strategic one at the global level. Significant scientific and technical progress in the field of battery technology will continue. A holistic and science-based approach is key to achieving the 2030 GHG emission reduction target and the 2050 climate neutrality objective in a responsible manner. All measures should be drafted based on comprehensive impact assessments taking into account economic and social costs as well as environmental impact assessing life cycle emissions. Such measures should support technological neutrality, impact awareness and contribute to the legal clarity of the future oriented legislation. In view of the strategic importance of batteries, and to provide legal certainty to all operators involved and to avoid discrimination, barriers to trade and distortions on the market for batteries, it is necessary to set out rules on sustainability parameters, performance, safety, collection, recycling and second life of batteries as well as on information about batteries, including their repairability parameters. It is necessary to create a harmonised regulatory framework for dealing with the entire life cycle of batteries that are placed on the market in the Union. As the production of batteries has a significant impact on the life cycle emissions of vehicles and the life cycle emissions of batteries will be calculated according to this regulation, the Commission should be encouraged to provide a methodology for a precise calculation of life cycle emissions, in particular in the case of hybrid and electric vehicles for road transport. The result of a non-biased comparable analysis should provide clarity for decision making which is important as regards reaching climate neutrality.
Amendment 89 #
2020/0353(COD)
Proposal for a regulation
Recital 19
Recital 19
(19) Certain substances contained in batteries, such as cobalt, lead, lithium or nickel, are acquired from scarce resources which are not easily available in the Union, and some are considered critical raw materials by the Commission. This is an area where Europe needs to enhance its strategic autonomy and increase its resilience in preparation for potential disruptions in supply due to health or other crises. Enhancing circularity and resource efficiency with increased recycling and recovery of those raw materials, will contribute to reaching that goal. In order to benefit from innovations and to complement the recovery and recycling of traditional critical raw materials, novel applications using renewable raw materials should be promoted.
Amendment 128 #
2020/0353(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 7 – indent 4
Article 2 – paragraph 1 – point 7 – indent 4
— is neither an electric vehicle battery nor a light means of transport battery nor an automotive battery;
Amendment 135 #
2020/0353(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 9
Article 2 – paragraph 1 – point 9
(9) ‘light means of transport’ means wheeled vehicles that have an electric motor of less than 750 watts, on which travel battery’ means any battery in wheeled vehicles that can be powered by the electric motor alone or by a combination of motor and human power, including vehiclers are seated when the vehicle is moving and that can be powered by the electric motor alone or by a combination of motor and human powerexempted from type-approval legislation or vehicles of type-approved categories provided for in Regulation (EU) No 168/2013 and with a weight below 25 kg;
Amendment 139 #
2020/0353(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 11
Article 2 – paragraph 1 – point 11
(11) ‘industrial battery’ means any battery designed for industrial uses and any other battery excluding portable batteries, electric vehicle batteries, light means of transport batteries and automotive batteries;
Amendment 141 #
2020/0353(COD)
Proposal for a regulation
Article 2 – paragraph 1 – point 12
Article 2 – paragraph 1 – point 12
(12) ‘electric vehicle battery’ means any battery specifically designed to provide traction to hybrid and electric vehicles for road transportof category L as provided for in Regulation (EU) No 168/2013 and with a weight above 25 kg, or to a vehicle of categories M, N or O as provided for in Regulation (EU) No 2018/858;
Amendment 147 #
2020/0353(COD)
Proposal for a regulation
Article 2 – paragraph 4 a (new)
Article 2 – paragraph 4 a (new)
The Commission shall set up a regularly updated electronic database for the various batteries belonging to the categories laid down in points (7), (9), (10), (11) and (12) of this Article to support clear and coherent implementation of the Regulation.
Amendment 156 #
2020/0353(COD)
Proposal for a regulation
Article 7 – paragraph 1 – point g a (new)
Article 7 – paragraph 1 – point g a (new)
(g a) information about the raw materials used, including the share of renewable content;
Amendment 266 #
2020/0353(COD)
Proposal for a regulation
Article 14 – paragraph 2 a (new)
Article 14 – paragraph 2 a (new)
Amendment 339 #
2020/0353(COD)
Proposal for a regulation
Article 48 – paragraph 4 – point a a (new)
Article 48 – paragraph 4 – point a a (new)
(a a) for light means of transport batteries: 50 %1a by 31 December 2023. _________________ 1a 'Available for Collection' methodology
Amendment 341 #
2020/0353(COD)
Proposal for a regulation
Article 48 – paragraph 4 – point b a (new)
Article 48 – paragraph 4 – point b a (new)
(b a) for light means of transport batteries: 70 %1a by 31 December 2025. _________________ 1a 'Available for Collection' methodology
Amendment 343 #
2020/0353(COD)
Proposal for a regulation
Article 48 – paragraph 4 – point c a (new)
Article 48 – paragraph 4 – point c a (new)
(c a) for light means of transport batteries: 75 %1a by 31 December 2030. _________________ 1a 'Available for Collection' methodology
Amendment 354 #
2020/0353(COD)
Proposal for a regulation
Article 55 – paragraph 1 – point a a (new)
Article 55 – paragraph 1 – point a a (new)
(a a) for light means of transport batteries: 50 %1a by 31 December 2023. _________________ 1a 'Available for Collection' methodology
Amendment 356 #
2020/0353(COD)
Proposal for a regulation
Article 55 – paragraph 1 – point b a (new)
Article 55 – paragraph 1 – point b a (new)
Amendment 358 #
2020/0353(COD)
Proposal for a regulation
Article 55 – paragraph 1 – point c a (new)
Article 55 – paragraph 1 – point c a (new)
(c a) for light means of transport batteries: 75 %1a by 31 December 2030. _________________ 1a 'Available for Collection' methodology
Amendment 373 #
2020/0353(COD)
Proposal for a regulation
Article 65 – paragraph 4
Article 65 – paragraph 4
4. The battery passport shall be accessible online, through electronic systems interoperable with the System established pursuant to Article 64 and shall be available to the user/consumer of the battery.
Amendment 374 #
2020/0353(COD)
Proposal for a regulation
Article 65 – paragraph 5 a (new)
Article 65 – paragraph 5 a (new)
5 a. The battery passport shall provide information on the reparability of the battery in case of defect. It shall be clear if the battery can be changed only in its entirety or also by block of cells or individual cells.
Amendment 375 #
2020/0353(COD)
7 a. The Commission is empowered to adopt delegated acts on reparability parameters of the battery falling under the scope of the Article 65.
Amendment 388 #
2020/0353(COD)
Proposal for a regulation
Annex II – point 4 – paragraph 1 – point 1 (new)
Annex II – point 4 – paragraph 1 – point 1 (new)
(1) (Ammendment to the table): Raw material acquisition and pre- processing: Includes mining or other relevant sourcing if from renewable materials and pre-processing, up to the manufacturing of battery cells and batteries components (active materials, separator, electrolyte, casings, active and passive battery components), and electric/electronics components.
Amendment 403 #
Amendment 404 #
Amendment 405 #
Amendment 434 #
2020/0353(COD)
Proposal for a regulation
Annex XIII – point 1 – point r a (new)
Annex XIII – point 1 – point r a (new)
(r a) Information on the reparability of battery in case of defect
Amendment 22 #
2020/0154(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point b
Article 1 – paragraph 1 – point b
Regulation (EU) 2016/1011
Article 2 – paragraph 4
Article 2 – paragraph 4
4. The Commission shall adopt delegated acts in accordance with Article 49 to create and update as appropriate a list of foreign exchange benchmarks that fulfil the criteria laid down in paragraph 3. Competent authorities of supervised entities that use third country foreign exchange benchmarks that are designated by the Commission in accordance with paragraph 3 shall report to the Commission and to ESMA on the number of derivative contracts that use that foreign exchange benchmark for hedging against third country currency volBy 31 December 2022, the Commission shall conduct a public consultation to identify spot foreign exchange benchmarks that fulfil the criteria laid down in paragraph 3 of this Article. By 31 December 2023, the Commission shall adopt delegated acts in accordance with Article 49 of this Regulation to create a list of spot foreign exchange benchmarks that fulfil the criteria laid down in paragraph 3 of this Article. The Commission shall update thati lity at least every two years.;st as appropriate.
Amendment 48 #
2020/0066(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point -1 (new)
Article 1 – paragraph 1 – point -1 (new)
Regulation (EU) No 575/2013
Article 114 – paragraph 6
Article 114 – paragraph 6
(-1) In Article 114, paragraph 6 is deleted.
Amendment 50 #
2020/0066(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point -1 a (new)
Article 1 – paragraph 1 – point -1 a (new)
Regulation (EU) No 575/2013
Article 150 – paragraph 1 – point d – point ii
Article 150 – paragraph 1 – point d – point ii
(-1a) In point(d) of Article 150(1), point (ii) is replaced by the following: “(ii) exposures to the central government and central banks are assigned a 0% risk weight under Article 114(2) or (4) or Article 495(2);”; ;”; Or. en (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02013R0575-20230628)
Amendment 102 #
2020/0066(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3 a (new)
Article 1 – paragraph 1 – point 3 a (new)
Regulation (EU) No 575/2013
Article 500 b (new)
Article 500 b (new)
Amendment 271 #
2019/0254(COD)
Proposal for a regulation
Article 5 – paragraph 2
Article 5 – paragraph 2
2. Paragraph 1 shall not apply to payment entitlements allocated to farmers on the basis of factually incorrect applications, except in cases where the error could not reasonably have been detected by the farmer or in violation of the rule on the conflict of interests, as stated in Article 61 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council 1a, except in cases where the error could not reasonably have been detected by the farmer. __________________ 1aRegulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012 (OJ L 193, 30.7.2018, p. 1).
Amendment 13 #
2018/2121(INI)
Motion for a resolution
Citation 8 a (new)
Citation 8 a (new)
- having regard to its resolution of 29 November 2018 on the cum-ex scandal: financial crime and loopholes in the current legal framework1a; _________________ 1a 2018/2900(RSP)
Amendment 24 #
2018/2121(INI)
Motion for a resolution
Citation 22 a (new)
Citation 22 a (new)
- having regard to the proposal for a directive of the European Parliament and of the Council on protection of persons reporting on breaches of Union law2a; _________________ 2a 2018/0106(COD)
Amendment 39 #
2018/2121(INI)
Motion for a resolution
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. (new) Notes that financial flows and tax mobility have substantially increased; warns that some new phenomena are inherently opaque or facilitate opacity allowing for tax avoidance, aggressive tax planning, tax evasion and money laundering; acknowledges this is mainly due to the current rules no longer fitting into the present context in which information and communication technology (ICT) based tools allow to operate faster and remotely;
Amendment 65 #
2018/2121(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. (new) Recalls that a tax jurisdiction has control only over tax matters related to its territory whereas economic flows and some taxpayers such as multinational enterprises (MNEs) and high net worth-individuals (HNWI) operate globally;
Amendment 67 #
2018/2121(INI)
Motion for a resolution
Paragraph 3 b (new)
Paragraph 3 b (new)
3 b. (new) Emphasizes that defining tax bases requires having a full picture of a taxpayer’s situation, including those parts that are outside of the tax jurisdiction, and determining which part refers to which jurisdiction; notes that it also requires that such tax bases are allocated between tax jurisdictions to avoid double-taxation and double non- taxation; affirms priority should be given to eliminating double non-taxation as well as ensuring that the issue of double taxation is tackled;
Amendment 72 #
2018/2121(INI)
Motion for a resolution
Subheading 1.2 a (new)
Subheading 1.2 a (new)
(new para under subheading 1.2) Stresses that tax fraud, tax evasion and aggressive tax planning result in lost resources for national and European Union budgets; acknowledges that quantification of these losses is not straightforward; notes however that increased transparency requirements would not only provide better data but also would contribute to reducing opacity;
Amendment 73 #
2018/2121(INI)
Motion for a resolution
Subheading 1.2 b (new)
Subheading 1.2 b (new)
Amendment 88 #
2018/2121(INI)
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. (new) Welcomes the recent estimates of the non-observed economy’ (NOE) –often called shadow economy – in the 2017 Survey Tax Policies in the European Union1a which provides an indirect broader indication of tax evasion; stresses that the value of the NOE measures economic activities, which may not be captured in the basic data sources used for compiling national accounts; _________________ 1a Tax Policies in the European Union 2017 Survey, ISBN 978-92-79-72282-0
Amendment 109 #
2018/2121(INI)
Motion for a resolution
Paragraph 10 a (new)
Paragraph 10 a (new)
10 a. (new) Welcomes the Commission’s reply to its calls made in its the TAXE, TAX2 and PANA resolutions to better identify aggressive tax planning and harmful tax practices and provide a clear distinction between what is illegal and what is legal in order to ensure certainty;
Amendment 150 #
2018/2121(INI)
Motion for a resolution
Subheading 2 a (new)
Subheading 2 a (new)
(new para before para 15) Recalls that opportunities for choosing a business or residence location on the basis of the regulatory framework have boomed with globalisation and digitalisation;
Amendment 183 #
2018/2121(INI)
Motion for a resolution
Paragraph 17 a (new)
Paragraph 17 a (new)
17 a. (new) Reaffirms that the adaptation of international tax rules needs to answer to avoidance deriving from the possible use of the interplay between national tax provisions, and networks of treaties, resulting in an erosion of the tax base and double non- taxation while ensuring that there is no double-taxation;
Amendment 201 #
2018/2121(INI)
Motion for a resolution
Paragraph 19 a (new)
Paragraph 19 a (new)
19 a. (new) Takes note that the actions require implementation and that some of them require follow-up work to draw possible solutions to the identified challenges, as for instance action 1‘Address the tax challenges of the digital economy’;
Amendment 206 #
2018/2121(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20 a. (new) Recalls that the 2016 EU 'anti-tax-avoidance package' supplements existing provisions so as to implement the 15 BEPS actions in an EU coordinated manner in the Single Market;
Amendment 256 #
2018/2121(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Welcomes the fact that DAC6 sets out the hallmarks of reportable cross- border arrangements that intermediaries must report to tax authorities to allow them to be assessed by the latter; welcomes the fact that these features of ATP schemes can be updated if new arrangements or practices emerge; points out that the implementation deadline of the directive has not yet lapsed and that the provisions will need to be monitored to ensure their efficiency;
Amendment 321 #
2018/2121(INI)
Motion for a resolution
Paragraph 35 a (new)
Paragraph 35 a (new)
35 a. (new) Emphasizes that sole agreement on what constitutes digital permanent establishment is a step in the right direction, but does not solve the issue of how to determine tax base to that digital permanent establishment;
Amendment 340 #
Amendment 361 #
2018/2121(INI)
Motion for a resolution
Paragraph 42 a (new)
Paragraph 42 a (new)
42a. Also stresses the contribution made through the Fiscalis 2020 Programme which aims at enhancing cooperation between participating countries, their tax authorities and their officials; stresses the added value brought by joint actions in this field and the role of the possible programme in developing and operating major trans-European IT systems;
Amendment 373 #
2018/2121(INI)
Motion for a resolution
Paragraph 44 a (new)
Paragraph 44 a (new)
44a. [New sub-heading] 2.3.1 Dividend stripping and coupon washing
Amendment 375 #
2018/2121(INI)
Motion for a resolution
Paragraph 44 a (new)
Paragraph 44 a (new)
44a. Concludes that the CumEx-files demonstrate the urgent need to improve cooperation between EU Member States’ tax authorities, especially with regard to information sharing; urges therefore Member States to enhance their cooperation in detecting, stopping, investigating and prosecuting tax fraud and evasion schemes such as cum-ex and cum-cum including exchange of best practices, and to support EU-level solutions where justified;
Amendment 380 #
2018/2121(INI)
Motion for a resolution
Paragraph 44 b (new)
Paragraph 44 b (new)
44b. (new under subheading 2.3.1.) Deplores the tax fraud and tax avoidance revealed by the so called CumEx Files scandal which has led to publicly reported losses of Member States’ tax revenue, amounting to as much as EUR 55,2 billion according to some media estimates; highlights that the consortium of European journalists identifies Germany, Denmark, Spain, Italy and France as allegedly the main target markets for cum-ex trading practices, followed by Belgium, Finland, Poland, the Netherlands, Austria and the Czech Republic;
Amendment 381 #
2018/2121(INI)
Motion for a resolution
Paragraph 44 b (new)
Paragraph 44 b (new)
44b. Notes that the systematic fraud centred around the cum-ex- and cum-cum schemes was made possible in part because relevant Member States’ authorities did not perform sufficient checks on applications for reimbursement of taxes and that relevant authorities lack a clear and complete picture of actual ownership of shares; calls on the Member States to access of all relevant authorities to complete and up-to-date information on ownership of shares; calls on the Commission to assess whether an EU action is needed in this regard, and to present a legislative proposal should the assessment demonstrate a need for such action;
Amendment 382 #
2018/2121(INI)
Motion for a resolution
Paragraph 44 c (new)
Paragraph 44 c (new)
44c. Underlines that the revelations seem to indicate possible shortcomings in national taxation laws and in the current systems of exchange of information and cooperation between Member State authorities; urges the Member States to effectively use all communication channels, national data and data made available by the strengthened framework for exchange of information;
Amendment 384 #
2018/2121(INI)
Motion for a resolution
Paragraph 44 c (new)
Paragraph 44 c (new)
Amendment 385 #
2018/2121(INI)
Motion for a resolution
Paragraph 44 d (new)
Paragraph 44 d (new)
44d. Urges all Member States to thoroughly investigate and analyse dividend payment practices in their jurisdictions, to identify the loopholes in their tax laws that generate opportunities for exploitation by tax fraudsters and avoiders, to analyse any potential cross- border dimension of these practices and to put an end to all these harmful tax practices; calls on Member States to exchange best practices in this regard;
Amendment 386 #
2018/2121(INI)
Motion for a resolution
Paragraph 44 e (new)
Paragraph 44 e (new)
44e. Calls upon the Member States and their Financial Supervisory Authorities to assess the need to ban exclusively tax- driven financial practices such as dividend arbitrage or dividend stripping and similar schemes, in absence of the proof to the contrary by the issuer that these financial practices have a substantive economic purpose other than unjustified tax reimbursement and/or tax avoidance;
Amendment 387 #
2018/2121(INI)
Motion for a resolution
Paragraph 44 f (new)
Paragraph 44 f (new)
44f. Calls on the Commission to start working immediately on a proposal for a European financial police within the framework of Europol with its own investigatory capacities, as well as on a European framework for cross-border tax investigations;
Amendment 388 #
2018/2121(INI)
Motion for a resolution
Subheading 2.4 a (new)
Subheading 2.4 a (new)
(new para) Welcomes the adoption of DAC4 providing for a CBCR to tax authorities, in line with BEPS Action 13 standard;
Amendment 389 #
2018/2121(INI)
Motion for a resolution
Subheading 2.4 b (new)
Subheading 2.4 b (new)
(new para) Reiterates its call for mandatory public CBCR for large businesses and 'community interest companies' (MNEs) and recalls similar provisions already exist for the banking sector in Directive 2013/36/EU Article 89 (CDRIV)1b; _________________ 1b Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.201363.
Amendment 415 #
2018/2121(INI)
Motion for a resolution
Paragraph 47 a (new)
Paragraph 47 a (new)
47a. Welcomes the Commission’s new proactive and open approach to investigations into illegal state aid during the present term, which has led to a number of high-impact cases being concluded by the Commission;
Amendment 496 #
2018/2121(INI)
Motion for a resolution
Subheading 3 a (new)
Subheading 3 a (new)
(new para) Underscores the need for harmonisation of VAT rules at EU level to the extent that it is necessary to ensure the establishment and the functioning of the internal market and to avoid distortion of competition1c; _________________ 1c Article 113 of TFEU
Amendment 528 #
2018/2121(INI)
Motion for a resolution
Paragraph 69 a (new)
Paragraph 69 a (new)
69a. Calls on the Council to ensure that the CTP status is consistent with the Authorised Economic Operator (AEO) status which is delivered by customs authorities;
Amendment 529 #
2018/2121(INI)
Motion for a resolution
Paragraph 69 b (new)
Paragraph 69 b (new)
69b. Calls for a minimal EU transparent coordination on the definition of CTP status, including a regular assessment by the Commission on how Member states grant CTP status; demands exchange of information between Member States’ tax authorities about refusals to grant CTP status to certain companies, in order to enhance coherence and common standards
Amendment 537 #
2018/2121(INI)
Motion for a resolution
Subheading 3.2 a (new)
Subheading 3.2 a (new)
(new para) Recalls that the European Parliament has called for addressing the factors contributing to the tax gap, namely regarding VAT;
Amendment 666 #
2018/2121(INI)
Motion for a resolution
Paragraph 91 a (new)
Paragraph 91 a (new)
91 a. Notes that the acquisition of citizenship of a Member State gives the grantee access to a wide range of rights and entitlements in the entire territory of the Union, including the right to move and reside freely; calls thus on Member States implementing CBI and RBI programmes, until they are finally repealed, to duly verify the character of the applicants and refuse their application if they present security risks, including money laundering; calls in this context Member States to compile and publish transparent data related to their CBI and RBI schemes, including the number of refusals and the reasons for denial; calls on the Commission to ensure better data collection and exchange of information among Member States in the context of their CBI and RBI schemes, including on applicants who have had their application denied due to security issues;
Amendment 705 #
2018/2121(INI)
Motion for a resolution
Paragraph 102
Paragraph 102
102. Calls on the Commission to table a legislative proposal to ensure the automatic exchange of information between the relevant authorities, including law enforcement, tax and customs authorities, on beneficial ownership and transactions taking place in free ports, customs warehouses or SEZs;
Amendment 724 #
2018/2121(INI)
Motion for a resolution
Subheading 4.4 a (new)
Subheading 4.4 a (new)
(new para) Acknowledges that administrative cooperation in the field of direct taxes framework covers now both individual and corporate taxpayers;
Amendment 738 #
2018/2121(INI)
Motion for a resolution
Paragraph 108 a (new)
Paragraph 108 a (new)
108 a. (new) Notes that the Union’s AML framework chiefly relies on a preventive approach to money laundering, with a focus on the detection and the reporting of suspicious transactions;
Amendment 742 #
2018/2121(INI)
Motion for a resolution
Paragraph 109
Paragraph 109
109. Deplores the fact that a large number of Member States have failed to fully or partially transpose AMLD4 into their domestic legislation within the set deadline, and that for this reason, infringement procedures have had to be opened by the Commission against them, including referrals before the Court of Justice of the European Union67 ; calls on these Member States to swiftly remedy this situation; reminds Member States of their legal obligation to respect the deadline of 10 January 2020 for the transposition of AMLD5 into their domestic legislation; supports the Council conclusions of 23 November inviting Member States to transpose the AMLD5 into their domestic legislation ahead of the 2020 deadline; _________________ 67 On 19 July 2018, the Commission referred Greece and Romania to the Court of Justice of the European Union for failing to transpose the fourth Anti-Money Laundering Directive into their national law. Ireland had transposed only a very limited part of the rules and was also referred to the Court of Justice.
Amendment 774 #
2018/2121(INI)
Motion for a resolution
Paragraph 115 a (new)
Paragraph 115 a (new)
115 a. Is concerned that illicit proceeds entering the European financial system in order to be laundered are further used to finance criminal activities posing threat to the security of Union citizens and/or creating distortions and unfair competitive disadvantages to law-abiding citizens and companies; calls on relevant national authorities to track the destinations of the transactions deemed suspicious by the 6200 customers of the Estonian branch of Danske Bank to confirm that money laundered have not been used for further criminal activity; calls on the relevant national authorities to duly cooperate in this matter as the chains of suspicious transactions are clearly cross-border;
Amendment 812 #
2018/2121(INI)
Motion for a resolution
Paragraph 123
Paragraph 123
123. Recalls that the ECB has the competence and responsibility for withdrawing authorisation from credit institutions for serious breaches of AML/CFT rules; notes, however, that the ECB is fully dependent on national AML supervisors for information relating to such breaches detected by national authorities; calls thus on national AML authorities to make quality information available to the ECB in a timely manner so the ECB can properly perform its function; encourages in this connection the ECB and all relevant AML authorities to continue negotiations on a multilateral agreement on exchange of information that should be ready by 10 January 2019;
Amendment 831 #
2018/2121(INI)
Motion for a resolution
Paragraph 126 a (new)
Paragraph 126 a (new)
126 a. Recalls that EU FIUs are strongly encouraged to use the FIU.net system; highlights that information sharing between FIUs and LEAs, including with Europol, should be improved;
Amendment 844 #
2018/2121(INI)
Motion for a resolution
Paragraph 127 a (new)
Paragraph 127 a (new)
127 a. Stresses the benefits of developing Public and Private Partnerships (PPPs); highlights the existence and positive results of the Europol Financial Intelligence Public Private Partnership, promoting the sharing of strategic and tactical information amongst banks, FIUs, LEAs and national regulators across countries;
Amendment 847 #
2018/2121(INI)
Motion for a resolution
Paragraph 128
Paragraph 128
128. Points out that the non- standardisation of suspicious transaction report formats and non-standardisation of suspicious transaction report thresholds among Member States and with respect to the different obliged entities leads to difficulties in the processing and exchange of information between FIUs; calls on the Commission to explore mechanisms to set up standardised reporting formats for obliged entities in order to facilitate the exchange of information between FIUs in cases with a cross-border dimension; and to reflect on the standardisation of suspicious transaction thresholds;
Amendment 854 #
2018/2121(INI)
Motion for a resolution
Paragraph 128 a (new)
Paragraph 128 a (new)
128 a. (new) Calls on the Commission to explore the possibility to set up automated decentralized database of suspicious transactions reports that would allow Member States’ FIUs to look up transactions and their initiators and receivers repeatedly reported as suspicious in different Member States;
Amendment 859 #
2018/2121(INI)
Motion for a resolution
Paragraph 129 a (new)
Paragraph 129 a (new)
129 a. (new) Awaits the Commission’s assessment of the framework for FIUs’ cooperation with third countries and obstacles and opportunities to enhance cooperation between FIUs in the Union including the possibility of establishing an EU level coordination and support mechanism; recalls that according to the AMLD5 this assessment should be ready by 1 June 2019;
Amendment 882 #
2018/2121(INI)
Motion for a resolution
Paragraph 133 a (new)
Paragraph 133 a (new)
133 a. (new) Calls on the Commission to lead a global initiative for the establishment of public central registers in all world jurisdictions; stresses in this regard the vital role of international organisations such as the OECD and the UN;
Amendment 886 #
2018/2121(INI)
Motion for a resolution
Paragraph 135 a (new)
Paragraph 135 a (new)
135 a. Takes notes that, in respect of trusts, national registers will only be accessible to those demonstrating a legitimate interest to access; stresses that Member States remain free to open the beneficial ownership registers for trust to the public;
Amendment 936 #
2018/2121(INI)
Motion for a resolution
Paragraph 145 a (new)
Paragraph 145 a (new)
145 a. (new) Believes that consistency and complementarity of the anti-money laundering list of high-risk third countries with the European list of non-cooperative jurisdictions need to be ensured; reiterates its call to entrust the Commission with a central role for the management of both lists;
Amendment 943 #
2018/2121(INI)
Motion for a resolution
Subheading 6 a (new)
Subheading 6 a (new)
(new para) Points out that a European fair tax system requires a fairer global tax environment; reiterates its call to monitor ongoing tax reforms of third countries;
Amendment 953 #
2018/2121(INI)
Motion for a resolution
Paragraph 149 a (new)
Paragraph 149 a (new)
149 a. Calls on the Commission and Member States to monitor new corporate tax provisions of countries which cooperate with the EU on the basis of an international agreement1d; _________________ 1d As mentioned in the public hearing held by TAX 3 committee on 1st of October: http://www.europarl.europa.eu/committee s/en/tax3/publications.html?id=20181018 CPU21161
Amendment 985 #
2018/2121(INI)
Motion for a resolution
Paragraph 153 a (new)
Paragraph 153 a (new)
153 a. Calls on Member states to push the G20 to reform the OECD blacklist criteria to go beyond pure tax transparency and tackle tax evasion and aggressive tax planning as well;
Amendment 986 #
2018/2121(INI)
Motion for a resolution
Paragraph 153 b (new)
Paragraph 153 b (new)
153 b. Reminds that, in order to improve the Union and Member States fight against money laundering, all available data, including macroeconomic ones, must be used effectively1e; _________________ 1e “The missing profits of nations” by T. Torslov, L. Wier and G. Zucman indicates in its first part that using modern macroeconomic models and data from published Balance of Payments, the tax revenue globally per year amounts to around 200 billion $ and Foreign Direct Investment (FDI) channelled through a tax haven jurisdiction amounts to a range between 10 to 30% of total FDI. These figures are quite higher than the estimations so far using other methods.
Amendment 1040 #
2018/2121(INI)
Motion for a resolution
Paragraph 160 a (new)
Paragraph 160 a (new)
160 a. Takes note of the Commission action and contributions in the OECD, Global Forum on transparency and exchange of information, Inclusive Framework on BEPS,– to promote higher levels of tax good governance globally, while ensuring that the international tax good governance standards continue to be fully respected within the EU;
Amendment 1049 #
2018/2121(INI)
Motion for a resolution
Paragraph 161 a (new)
Paragraph 161 a (new)
161 a. Recalls the need for Member States for regular spill over analyses of the material impact of the tax policies on other Member States and developing countries, while acknowledging that some work has taken place in this regard in the framework of the Platform on Tax Good Governance; calls on all Member States to conduct such spill over analysis under the supervision of the Commission;
Amendment 1057 #
2018/2121(INI)
Motion for a resolution
Paragraph 163 a (new)
Paragraph 163 a (new)
163 a. Welcomes the cooperation with the African Union (AU) within the Addis Tax Initiative (ATI) and the Extractive Industries Transparency Initiative (EITI) and the Kimberley process;
Amendment 1066 #
2018/2121(INI)
Motion for a resolution
Paragraph 166 a (new)
Paragraph 166 a (new)
166 a. Calls for a concerted external action of the EU and Member States at all levels of the policy to provide third countries and in particular developing ones to bolsters a balanced economic development and avoid dependence on one single sector, in particular the financial one;
Amendment 1089 #
2018/2121(INI)
Motion for a resolution
Paragraph 170 a (new)
Paragraph 170 a (new)
170 a. Recalls that good tax governance clauses should be included in all new relevant EU agreements with third countries, and negotiated in the existing ones at the time of revision, with a view to the fact that these are core instruments of the EU external policy yet, depending on the specific policy field involve different levels of competence;
Amendment 1116 #
2018/2121(INI)
Motion for a resolution
Paragraph 172 a (new)
Paragraph 172 a (new)
172 a. Is aware that bilateral tax treaties do not reflect the current reality of digitalized economies; calls on Member States to update their bilateral tax treaties based on the Commission recommendation on taxation of digitalized economy1f; _________________ 1f C (2018)-1650 final
Amendment 1117 #
2018/2121(INI)
Motion for a resolution
Subheading 6.7 a (new)
Subheading 6.7 a (new)
Welcomes the strengthened framework avoiding double non-taxation; emphasizes that elimination of double taxation is of great importance in order to ensure that honest taxpayers are treated fairly and their trust is not undermined; calls on Member States to abide by their double- taxation treaties and cooperate sincerely and swiftly in cases of reported double taxation;
Amendment 1145 #
2018/2121(INI)
Motion for a resolution
Paragraph 178 a (new)
Paragraph 178 a (new)
178 a. (new) Welcomes the monitoring of the enforcement of Directive 2014/56/EU of the European Parliament and of the Council of 16 April 2014 amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts1g and of Regulation (EU) 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC1h, in particular the provision on statutory auditors or audit firms carrying out statutory audits of public- interest entities; points out the need to ensure that the rules are properly applied; _________________ 1g OJ L 158, 27.5.2014, p. 196 1h OJ L 158, 27.5.2014, p. 77
Amendment 1166 #
2018/2121(INI)
Motion for a resolution
Paragraph 180 a (new)
Paragraph 180 a (new)
180 a. (new) Notes that the US False Claims Act provides a solid framework for rewarding of whistle-blowers in cases where the government recovers funds lost to fraud as presented during the 21 November TAX3 hearing; underlines that according to the US Justice Department report, whistle-blowers were directly responsible for detection and reporting of 3.4 out of 3.7 billion USD recovered; calls on Member States to establish safe confidential communication channels for whistle-blowers’ reporting within relevant authorities and in private entities;
Amendment 1169 #
2018/2121(INI)
Motion for a resolution
Paragraph 180 b (new)
Paragraph 180 b (new)
180 b. (new) Calls for the proposal for a directive of the European Parliament and of the Council on protection of persons reporting on breaches of Union law1x to be swiftly adopted; _________________ 1x 2018/0106(COD)
Amendment 1175 #
2018/2121(INI)
Motion for a resolution
Paragraph 181 a (new)
Paragraph 181 a (new)
181 a. (new) Takes note of the proposal for a Directive of the European Parliament and of the Council on the protection of persons reporting on breaches of Union law, which is currently under discussion in Parliament1i; _________________ 1i COM(2018) 218 final, 23.4.2018
Amendment 1180 #
2018/2121(INI)
Motion for a resolution
Paragraph 183
Paragraph 183
183. Notes that the TAX3 Committee invited the whistle-blowers in the cases of Julius Bär and Danske Bank to testify at public parliamentary hearings84 ; Deeply regrets the fact, that the Danske Bank whistle-blower, Mr Howard Wilkinson, was unable to share his insights into the Danske Bank case freely and fully, due to legal restraints; _________________ 84 Mr Rudolf Elmer, hearing on 1.10.2018; Mr Howard Wilkinson, hearing on 21.11.2018.
Amendment 1182 #
2018/2121(INI)
Motion for a resolution
Paragraph 183 a (new)
Paragraph 183 a (new)
183 a. (new) Calls on the Member States to closely work within the Council of Europe in the promotion and implementation in their domestic law by all States belonging to the Council of Europe of the Recommendation CM/Rec(2014)7 of the Committee of Ministers to Member States on the protection of whistle-blowers; calls on the Commission and Member States to take the lead in other international fora to promote the adoption of international binding standards for the protection of whistle-blowers;
Amendment 1219 #
2018/2121(INI)
Motion for a resolution
Paragraph 192 a (new)
Paragraph 192 a (new)
192 a. (new) Regrets that the current rules for accessing classified and other confidential information made available by Council, Commission or Member States to the European Parliament do not provide full legal clarity but are generally interpreted as excluding accredited parliamentary assistants (APAs) from consulting and analysing non-classified ‘other confidential information’ in a secure reading room; calls therefore for the introduction of a clearly worded provision guaranteeing the right of access to documents for APAs on the basis of the ‘need to know’ principle, in their support role for Members, in are negotiated inter- institutional agreement;
Amendment 1230 #
2018/2121(INI)
Motion for a resolution
Paragraph 198 a (new)
Paragraph 198 a (new)
198 a. Calls on the Commission to report on the implementation of the Code and on the application of fiscal State aid, as laid down in Article N. of the Code of conduct for business taxation1j; _________________ 1j The Code is in annex 1 to the (p.2-5) Council conclusions 1 December 1997 establishing the group (OJ C2/1,6.1.1998), point N being review and monitoring provision.
Amendment 291 #
2018/0216(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point c – introductory part
Article 4 – paragraph 1 – point c – introductory part
(c) for the purpose of types of interventions in the form of direct payments, 'eligible hectare' shall be defined in a way that it includes any agricultural area of the holding with proper right of use:
Amendment 494 #
2018/0216(COD)
Proposal for a regulation
Article 12 – paragraph 1
Article 12 – paragraph 1
1. Member States shall ensure that all agricultural areas including land which is no longer used for production purposes, is maintained in good agricultural and environmental condition. Member States shall define, at national or regional levellevel with regard to regional specificities, minimum standards for beneficiaries for good agricultural and environmental condition of land in line with the main objective of the standards as referred to in Annex III and stemming from local soil and climatic conditions including occurrence of drought, taking into account the specific characteristics of the areas concerned, including soil and climatic condition, such as existing farming systems, land use, crop rotation, and farming practices, and farm structures.
Amendment 516 #
2018/0216(COD)
Proposal for a regulation
Recital 9
Recital 9
(9) In view of further improving the performance of the CAP and guarantee a fair distribution of direct payments, income support should be targeted to genuine farmers. In order to ensure a common approach at Union level for such a targeting of support, a framework definition for ‘genuine farmer’ displaying the essentialcommon elements should be set out. On the basis of this framework, Member States should define in their CAP Strategic Plans which farmers are not considered genuine farmers based on conditions such as income tests, labour inputs on the farm, company object and inclusion in registers. It should also not result in precluding sSupport to pluri-active farmers, who are actively farming but who are also engaged in non-agricultural activities outside their farm, should not be precluded, as their multiple activities often strengthen the socio-economic fabric of rural areas. The framework definition must, in any event, help to preserve the model of family farming that exists in the European Union and must be based on a clearly identified agricultural activity in accordance with Article 4.1(a).
Amendment 558 #
2018/0216(COD)
Proposal for a regulation
Article 13 – paragraph 4 – point f a (new)
Article 13 – paragraph 4 – point f a (new)
(fa) setting up and development of producer organisations;
Amendment 765 #
2018/0216(COD)
Proposal for a regulation
Article 28 – paragraph 4 a (new)
Article 28 – paragraph 4 a (new)
4a. Eco-schemes shall promote production models that are beneficial for the environment, particularly extensive livestock rearing or integrated farming system with diversification of arable crops and livestock production and to promote all kinds of agricultural practices such as, among other measures, the enhanced management of permanent pastures , landscape features and environmental certification schemes, such as organic farming, integrated production or conservation agriculture. These schemes may also include practices to promote smart farming and circular economy practices, such as re-using farm waste, to improve reliance on non-fossil based fuels and energies, carbon management in grass land and arable land, nutrient management schemes, water retention practices and water quality protection, pollinator friendly cultivation practices and practices linked to bee-keeping management, wildlife-friendly cultivation practices, erosion and drought prevention measures and habitat management plans. Eco-schemes might also support collective approaches to these measures. As a condition for taking up more ambitious rural development commitments, the eco- schemes may also include ‘entry-level schemes’.
Amendment 857 #
2018/0216(COD)
Proposal for a regulation
Recital 43
Recital 43
(43) Young farmers and new entrants still face significant barriers regarding access to land, high prices and access to credit. Their businesses are more threatened by price volatility (for both inputs and produce) and their needs in terms of training in entrepreneurial and risk management skills are high. It is therefore essential to continue the support for young people for the setting up of new businesses and new farms. Member States should provide for a strategic approach and identify a clear and coherent set of interventions for generational renewal under the specific objective dedicated to this issue. To this aim, Member States may set in their CAP Strategic Plans preferential conditions for financial instruments for young farmers and new entrants, and should include in their CAP Strategic Plan the ring-fencing of at least an amount corresponding to 24% of the annual direct payments' envelope. An increase of the maximum amount of aid for the installation of young farmers and rural business start-ups, up to EUR 100.000, which can be accessed also through or in combination with financial instrument form of support, should be established.
Amendment 865 #
2018/0216(COD)
Proposal for a regulation
Recital 43 a (new)
Recital 43 a (new)
(43a) New farmers and their investments make an important contribution to the economic development of rural areas, in particular by revitalising sparsely populated areas. They face barriers in terms of access to land, property prices and access to credit. It is therefore essential to continue the support for the setting up of new farms. Member States should provide for a strategic approach and identify a clear and coherent set of interventions for facilitating business development under the specific objective dedicated to this issue.
Amendment 1129 #
2018/0216(COD)
Proposal for a regulation
Article 4 – paragraph 1 – introductory part
Article 4 – paragraph 1 – introductory part
1. Member States shall provide in their CAP Strategic Plan the definitions of agricultural activity, agricultural area, eligible hectare, genuine farmer and, young farmer and new farmer:
Amendment 1233 #
2018/0216(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point d
Article 4 – paragraph 1 – point d
(d) 'genuine farmers' shall be defined in a way to ensure that no support is granted to those whose agricultural activity forms onlydoes not form an insignificant part of their overall economic activities orand whose principal business activity is not agricultural, while not precluding from support pluri-active farmers. The definition shall allow to determine which farmers are not considered genuine farmers, based on conditions such as income tests, labour inputs on the farm, company object and/or inclusion in registers. The definition must, in any event, preserve the family farming model of the European Union of an individual or group nature, irrespective of its size, and may take into account, if necessary, the special features of the regions defined in Article 349 TFEU.
Amendment 1262 #
2018/0216(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point e – point i
Article 4 – paragraph 1 – point e – point i
(i) a maximum age limit that mayshall not exceed 40 years;
Amendment 1282 #
2018/0216(COD)
Proposal for a regulation
Article 4 – paragraph 1 – point e a (new)
Article 4 – paragraph 1 – point e a (new)
(e a) (ea) 'new farmer' shall be defined in such a way that it includes: (i) the conditions for being 'head of the holding'; (ii) the appropriate training and/or skills; (iii) a minimum age limit ofover 40 years; (iv) the status of a “new farmer” expires 5 years after the date of the first installment. (v) a ‘new farmer’ according to this definition cannot be recognised as a young farmer as defined in this Article.
Amendment 1402 #
2018/0216(COD)
Proposal for a regulation
Article 94 – paragraph 4 a (new)
Article 94 – paragraph 4 a (new)
(4a) Member States shall ensure sound financial management and effective and efficient use of EU resources. They shall prevent any irregularities or the inefficient use of EU resources. Member States and the Commission shall cooperate to protect the financial interests of the Union and to ensure compliance with conflict of interest rules. They shall apply preventive measures against fraud, corruption and any other illegal activities and measure to prevent conflicts of interest from arising.
Amendment 1449 #
2018/0216(COD)
Proposal for a regulation
Article 106 – paragraph 4
Article 106 – paragraph 4
4. The Commission shall approve the proposed CAP Strategic Plan provided that the necessary information has been submitted and the Commission is satisfied that the Plan is compatible with the general principles of Union law, the financial rules of the Union, the requirements set out in this Regulation, the provisions adopted pursuant to it and in Regulation (EU) [HzR].
Amendment 2263 #
2018/0216(COD)
Proposal for a regulation
Article 27 – paragraph 2
Article 27 – paragraph 2
2. As part of their obligations to contribute to the specific objective ‘attract young farmers and facilitate business development in rural areas’ set out in point (g) of Article 6(1) and to, Member States shall dedicate at least 24% of their allocations for direct payments to this objective in accordance with Article 86(4), Member States may provide a complementary incom to provide support for young farmers who have newly set up for the first time and who are entitled to a payment under the basic income support as referred to in Article 17.
Amendment 2428 #
2018/0216(COD)
Proposal for a regulation
Article 28 – paragraph 5 a (new)
Article 28 – paragraph 5 a (new)
5a. Member States may decide to set up eco-schemes to promote production models that are beneficial for the environment, particularly extensive livestock rearing or integrated farming system with diversification of arable crops and livestock production and to promote all kinds of agricultural practices such as, among other measures, the enhanced management of permanent pastures , landscape features and environmental certification schemes, such as organic farming, integrated production or conservation agriculture. These schemes may also include practices to promote smart farming and circular economy practices, such as re-using farm waste, to improve reliance on non-fossil based fuels and energies, carbon management in grassland and arable land, nutrient management schemes, water retention practices and water quality protection, pollinator friendly cultivation practices and practices linked to bee-keeping management, wildlife-friendly cultivation practices, erosion and drought prevention measures and habitat management plans. Eco-schemes might also support collective approaches to these measures. As a condition for taking up more ambitious rural development commitments, the eco- schemes may also include ‘entry-level schemes’.
Amendment 2482 #
2018/0216(COD)
Proposal for a regulation
Article 29 – paragraph 2
Article 29 – paragraph 2
2. The Member States’ interventions shall help the supported sectors and productions or specific types of farming therein listed in Article 30 addressing the difficulty or difficulties they undergo by improving their competitiveness, their sustainability or their quality. Member States may decide in their CAP Strategic plans to add more supported sectors to those listed in Article 30 based on justification included in their assessment of needs.
Amendment 4433 #
2018/0216(COD)
Proposal for a regulation
Article 103 – paragraph 2 – subparagraph 5
Article 103 – paragraph 2 – subparagraph 5
For the specific objective to attract young farmers set out in point (g) of Article 6(1), the SWOT shall include a short analysis of access to land, land mobility and land restructuring, access of finance and credits, and access to knowledge and advice, and capacity to cope with risk.
Amendment 21 #
2018/0076(COD)
Proposal for a regulation
Recital 3
Recital 3
(3) High charges for cross-border payments remain a barrier to the full integration into the single market of businesses and citizens in non-euro area Member States. They perpetuate the existence of two categories of payment service users in the Union: on the one hand payment service users, the vast majority of which benefit from the single euro payments area (‘SEPA’), and on the other hand, payment service users that pay high costs for their cross-border payments in euro, and are therefore disadvantaged compared to businesses and citizens from euro area Member States.
Amendment 25 #
2018/0076(COD)
Proposal for a regulation
Recital 4
Recital 4
(4) In order to facilitate the functioning of the Single Market and end the barriers between payment service users in the euro area and non-euro area Member States in respect of cross-border payments in euro, it is necessary to ensure that charges for cross-border payments in euro within the Union are aligned with charges for domestic payments made in the official currency of a Member State in which the payment service is offered to payment service users.
Amendment 31 #
2018/0076(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) Currency conversion charges represent a significant cost of cross-border payments when different currencies are in use in the payer’s and the payee’s countries. Article 45 of Directive (EU) 2015/2366 of the European Parliament and of the Council12 requires transparency of charges and of the exchange rate used prior to the initiation of a payment transaction. When alternative currency conversion options are offered at a point of sale or at an automated teller machine (ATM), that transparency may not allow for a quick and clear comparison between those different currency conversion options. That lack of transparency prevents competition from bringing down costs of currency conversion and increases the risk of payment service users choosing more expensive currency conversion options. Article 59 of Directive (EU) 2015/2366 already provides for general requirements regarding information disclosed by the currency conversion service provider, but further specification is needed in order to achieve the objective of this Regulation. It is therefore necessary to develop measures addressed to payment service providers that will improve transparency and protect consumers against excessive charges forchoosing currency conversion services, in particular when consumers are not given the information they need to choose the best currency conversion option with excessive charges due to lack of transparency. _________________ 12 Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, p. 35).
Amendment 36 #
2018/0076(COD)
Proposal for a regulation
Recital 5 a (new)
Recital 5 a (new)
(5a) Achieving this objective requires that payment service users are provided with all currency conversion options simultaneously in a clear and neutral manner to avoid situations where currency conversion options are preselected or presented in a misleading manner to the payment service user.
Amendment 43 #
2018/0076(COD)
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
Amendment 49 #
2018/0076(COD)
Proposal for a regulation
Recital 7
Recital 7
(7) Considering the technical level of the measures required in particular for transparency in currency conversion charges, the Commission should be empowered to adopt regulatory technical standards developed by the European Banking Authority with regard to the level of transparency required and the comparability of currency conversion services that will allow payment services users to make a well-informed decision about which currency conversion service they wish to use. The Commission should adopt those draft regulatory technical standards by means of delegated acts pursuant to Article 290 Treaty on the Functioning of the European Union and in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council13 . _________________ 13 Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).
Amendment 68 #
2018/0076(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point a
Article 1 – paragraph 1 – point 2 – point a
Regulation (EC) No 924/2009
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Charges levied by a payment service provider on a payment service user in respect of cross-border payments in euro shall be the same as the charges levied by that payment service provider on payment service users for corresponding national payments of the same value and in the official currency of the Member State in which the payment service provider offers its service to the payment service user’s Member State.
Amendment 78 #
2018/0076(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EC) No 924/2009
Article 3 a – paragraph 1
Article 3 a – paragraph 1
1. From [OP please insert date 3624 months after the entry into force of this Regulation], payment service providers shall inform payment service users of the full cost of currency conversion services, and where applicable, those of alternative currency conversion services prior to the initiation of a payment transaction in accordance with Article 59 of Directive (EU) 2015/2366, in order that payment service users can compare alternative currency conversion options and their corresponding costs without preselection of one of the options being made by the payment service provider. To that effect, payment service providers shall disclose the exchange rate applied, the foreign exchange reference rate used and the total amount of all charges applicable to the conversion of the payment transaction and the final amount of the transaction. If any of the required information cannot be determined at the time before initiation of the transaction, the consumer shall be informed of the exchange rate used by the payment service provider for settlement on that day or the day preceding the transaction, of the payment transaction. fact that exchange rate applied will be determined at a later point in time and the maximum amount of charges that will apply.
Amendment 114 #
2018/0076(COD)
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EC) No 924/2009
Article 15
Article 15
By 31 OctoDecember 20221, the Commission shall present to the European Parliament, the Council, the European Economic and Social Committee and the European Central Bank a report on the application of this Regulation, accompanied, if appropriate, by a proposal. That report shall cover, in particular, the appropriateness of amending Article 1(2) to ensure that this Regulation covers all currencies of Member States of the Union.
Amendment 118 #
2018/0076(COD)
Proposal for a regulation
Article 2 – paragraph 2
Article 2 – paragraph 2
It shall apply from 1 January 2019[3 months after entry into force of this Regulation].
Amendment 86 #
2017/2226(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Highlights, however, the persistent structural problem of that the insufficient growth of potential output and of productivity, flanked by too is associated mostly with low a level of investments and wages; notes that lack of structural reforms and low wage growth, especially in some areas of the economy, leading to persistentincrease in social inequalities;
Amendment 104 #
2017/2226(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses the importance of a wage increase at European level in order to boost private consumption as the main support for growth; points out the need to focus on the interaction between monetary, fiscal and incomes (including wage and profit development) policies rather than only fiscal issueat sustainable wage growth must go hand in hand with productivity increase; points out that such goal cannot be achieved solely by fiscal or monetary policy and needs to be approached via structural policies and reforms;
Amendment 129 #
2017/2226(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Welcomes the improvements in public finances, in particular the gradually declining debt/GDP ratios for the EU and euro area and falling headline budget deficits in many countries; recalls that, while many Member States have limited fiscal leeway forneed to continue implementing sustainable, growth-friendly structural reforms, some Member States still have large surpluses which should be used to sustain investments and growth across the EU to extend benefits of this improvement in future;
Amendment 150 #
2017/2226(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Recalls the importance of public investment for boosting and leveraging investment in the EU; considers that the policy mix proposed in the AGS 2018 should be further developed to remedy the current decrease in public investment in the EU; highlights that this decrease also affects local and regional authorities, threatening their ability to deliver quality public services, in the situation of improved growth of the EU economy, gives Members States possibility to promote certain public investment in the EU;
Amendment 167 #
2017/2226(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 178 #
2017/2226(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Underlines that the European Semester and theMember States should ensure greater ownership of the European Semester, particularly implementation of its Country-Specific Recommendations, and should achieve the objectives set outtake into the account priorities set out within EU policies, including in the Pillar of Social Rights;
Amendment 212 #
2017/2226(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the fact that the AGS 2018 acknowledges the need for efficient and fair tax systems to ensure sustainable finance and reverse the current fall in capital income taxation;; supports the Commission’s initiatives to achieve greater fairness and transparency of tax systems within the EU and globally; particularly supports the Commission’s initiatives to achieve increased transparency, ain the area of reformed of VAT system and a common consolidated corporate tax base;
Amendment 233 #
2017/2226(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Regrets thatWelcomes the overall neutral fiscal stance proposed in the recommendations for the euro area, ; believens though the fiscal stance is expected to be slightly expansionary in a number of Member States in 2018, does not appear to fully support the strengthening of economic growth and job creationat growth of the EU economies going hand in hand with structural and fiscal reforms provide in such a policy stance space for forward looking fiscal policy including the possibility to increase certain public investments;
Amendment 244 #
2017/2226(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Insists on a common effort to bring euro area expenditure on R&D closer to the EU2020 targets; calls for properstresses the need to invest public funds especially into R&D projects that will improve competitiveness of the EU economy on global scale; calls for adequate policies and investment to ensure equal access to higherlifelong education and training;
Amendment 258 #
2017/2226(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Recalls that the role of the Member States is to guarantee access to quality education and training; acknowledges the shortage of labour force, that is gradually emerging in some Member States; recalls that in some instances, correction of over- employment in certain parts of public sector may provide for a good policy response;
Amendment 276 #
2017/2226(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Considers that the tools available for EU economic policy are not yet equal to the task of fully addressing the EU’s cyclical and structural problems, in particular the need to strengthen inclusive growth and productivity, to boost job creation, promote convergence, support sustainable investments and enhance resilience to shocks;
Amendment 298 #
2017/2226(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Underlines that a fiscal capacity – on top of existing capacities, and not through redeployments that would undermine the vital role currently played by structural funds and cohesion policy – represents a necessary tool for increasing incentives for convergence andability of the EU to counter asymmetric or symmetric economic shocks;
Amendment 308 #
2017/2226(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Is concerned that gaps and discrimination on the labour market remain high throughout the European Union, contributing to differences in remuneration, retirement, participation in decision- making and wealth between men and women; stresses the importance of preserving high standards in relation to the quality of the proposed employmentUnderlines that digitalisation is substantially transforming labour markets; stresses the importance of dynamic and flexible labour markets responding to the needs of modern economy ;
Amendment 351 #
2017/2226(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Highlights the importance of an improved European Semester process, including the formalisation of the euro area aggregate fiscal stance as a keyn important tool for policy formulation and implementation across the members of EMU; calls for a broader reform of the Stability and Growth Pact (SGP) in order to improve its flexibility, to incorporate the differentiated treatment of investments and to introduce the concept of aggregtransparency and clarity, without weakening the current substance, that contributed to gradual and sustainable recovery of EU and its members states fiscal stancerom crises;
Amendment 361 #
2017/2226(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Underlines that any further step towards a deepening of the EMU must go hand in hand with stronger democratic controls; insists that, to this end, the role of the European Parliament and national parliaments must be strengthened; asks to include trade unions in the negotiation process at both national and European level; urges the launch of the long- awaited negotiation of an interinstitutional agreement (IIA) on the Semester;
Amendment 19 #
2017/2124(INI)
Motion for a resolution
Recital A
Recital A
A. whereas at its meeting of 9 and 10 March 2016, the ECB Governing Council adopted further measures to boost monetary stimulus, including throughsupport the economy through monetary policy by 1) a reduction in its key interest rates and a lower deposit facility rate of -0.4 %; 2) an increase in monthly purchases under the asset purchase programme (APP) to EUR 80 billion; 3) the inclusion of a new corporate sector purchase programme (CSPP) in the APP for purchasing investment-grade euro-denominated bonds issued by non-bank corporations established in the euro area; and 4) a new series of targeted longer-term refinancing operations (TLTRO) with a maturity of four years;
Amendment 31 #
2017/2124(INI)
Motion for a resolution
Recital D
Recital D
D. whereas the ECB has missed its 2 %price stability defined by the annual inflation rate target in each of the four years since 2013 and forecasts that it will notof below, but close to 2 % over the medium term is the ECB’s primary objective; whereas inflation rate in the euro area has been significantly below but converging towards that target and is foreseen to reach thise target before 2020;
Amendment 42 #
2017/2124(INI)
Motion for a resolution
Recital E
Recital E
E. whereas in 2016, the ECB’s net profit stood at EUR 1.19 mbillion compared with EUR 1.08 mbillion in 2015;
Amendment 47 #
2017/2124(INI)
Motion for a resolution
Recital F
Recital F
F. whereas interest income under the APP isportfolio and the US dollar portfolio are the main contributors to this net profit;
Amendment 67 #
2017/2124(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Underlines the federalindependent nature of the ECB as laid down in the Treaty, which rules out national vetoes, enabling it to act decisively in addressing the crisis;
Amendment 103 #
2017/2124(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Recalls that, according to Eurostat, average inflation was just 0.2 % in 2016, while inflation excluding energy prices stood at 0.9 %in August 2016, rising to 1.2 % in August 2017, despite ECB's monetary policy measures;
Amendment 110 #
2017/2124(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
Amendment 134 #
2017/2124(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Agrees with the ECB’s President that in order to reach the inflation target, supportiveound fiscal policies and socially balanced productivity-enhancing reforms are requiredstructural reforms can lead to stimulation of the euro area economy;
Amendment 152 #
2017/2124(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that additional policy measures should be considered in orderCalls on the ECB to examine and analyse possible additional policy measures with the objective to move closer and more rapidly towards the inflation objective, including, anmong other measures, increase in monthly purchases, and the inclusion of equity purchases in the APP and the extension of the TLTRO programme to households through zero-coupon perpetual loan; emphasizes that price stability in the Eurozone is the primary objective of the ECB and the ECB must stay vigilant to that objective shall it decide to implement additional measures;
Amendment 166 #
2017/2124(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
Amendment 182 #
2017/2124(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Recalls that, without prejudice to the primary objective of price stability, in accordance with Article 32 of its Statute, the ECB mustshall support ‘the general economic policies of thein the Union with a view to contributing to the achievement of the objectives of the Union as laid down in Article 3 of the Treaty on European Union’, including, as stated in Article 3 of the TEU, ‘the sustainable development of Europe based on balanced economic growth and price stability’;
Amendment 184 #
2017/2124(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Recalls that, in accordance with Article 32 of its Statute, the ECB mustshall support ‘the general economic policies of the Union with a view to contributing to the achievement of the objectives of the Union as laid down in Article 3 of the Treaty on European Union’, including, as stated in Article 3 of the TEU, ‘the sustainable development of Europe based on balanced economic growth’';
Amendment 189 #
2017/2124(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that GDP growth in the Eurozone has been modest, yet favorable compared to previous years, standing at 2 % in 2015 and 1.8 % in 2016, and that the Commission’s Spring 2017 Economic Forecast predicts that GDP growth will remain below 2 % until at least 2019;
Amendment 223 #
2017/2124(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Notes that according to the ECB, economic recovery in the Eurozone has relied onbenefitted among others from the fall in oil prices and the ECB’s monetary policy, which will add a cumulative 1.7 % to growth in the period 2016-2019, with no sizable positive contribution from fiscal policy so far;
Amendment 232 #
2017/2124(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Considers that monetary policy alone is not sufficient to achieve a fast and sustainable and more even and inclusive economic recovery, and that public and private investments should therefore be encouraged in the context of a moderately positive fiscal stance in the Eurozone as proposed by the Commissionnd within the framework of the Stability and Growth Pact; stresses that sound fiscal policies and structural reforms on the national level are most important factors for speeding up sustainable growth;
Amendment 257 #
2017/2124(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
15. Points out that while unemployment hais decreaseding, aggregate demand in the euro area remains subdued, largely as a result of the rise in poor quality, temporary, low-paid jobs; calls on the ECB to evaluate how this phenomenon is slowing the recovery and explore ways to stimulate demand in spite of wage stagnation; emphasizes the importance of productivity-enhancing reforms with focus on skills that facilitate further job creation met with appropriate supply of adequately skilled workers;
Amendment 279 #
2017/2124(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Stresses that excessive current account surpluses in some Member States must be corrected first through appropriate fiscstructural policies followed by changes in fiscal policy;
Amendment 294 #
2017/2124(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
Amendment 313 #
2017/2124(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. StressWelcomes that since 2015, rates for very small loans have continued to decline at a faster pace than those for large loans, contributing to a further narrowing of the spread between very small and large loans; notes, moreover, that the spread between rates for small loans and large loans is now similar across countries in the euro area;
Amendment 319 #
2017/2124(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Agrees with the ECB that a bank’s profitability depends on its business modelstructure and balance sheet, low interest rates notwithstanding;
Amendment 332 #
2017/2124(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Acknowledges that the current policy of low interest rates has a positive effect on the level of nonperforming loans (NPLs); calls for a European strategy involving a secondary market for NPLs in order to alleviate the burden of NPLs in some Member Stateswelcomes the approved action plan of the ECOFIN Council of 11 July 2017, which plans to address the problem of NPLs in the banking sector;
Amendment 352 #
2017/2124(INI)
Motion for a resolution
Paragraph 22
Paragraph 22
Amendment 386 #
2017/2124(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 439 #
2017/2124(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Welcomes theTakes note of the decision of 23 June 2017 of the Governing Council of the ECB to recommend an amendment tof Article 22 of the ECB Statute to provide a legal basis for the Eurosystem to carry out its role as central bank of issue in the proposed reform of the supervisory architecture for central counterparties (CCPs);
Amendment 445 #
2017/2124(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. Agrees with the ECB on the importance of physical moneyeuro as the only legal tender, and reminds all Eurozone countries that euro coins and banknotes must not be rejected in transactions, unless this is part of systematic and planed move towards cash-less economy;
Amendment 468 #
2017/2124(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Urges the ECB to support Greece, for example through ensuring theStress that eligibility of Greek companies for the CSPP and the inclusion of Greek sovereign bonds in the APP must be based on general rules concerning credit risk management of ECB;
Amendment 497 #
2017/2124(INI)
Motion for a resolution
Paragraph 35
Paragraph 35
35. Believes that part of ECB profits from seigniorage revenue shouldcan be considered an EU budgetary resource in future, since they areit is directly linked to a fully developed, sui generis European policy; stresses, however, that predictability of such source is low and that profit making is not ECB’s primary objective;
Amendment 543 #
2017/2124(INI)
Motion for a resolution
Paragraph 38
Paragraph 38
38. Asks the ECB to make it a rule to publish its decisions, recommendations and opinions, thereby drastically reducing the number of exemptions from disclosure;
Amendment 340 #
2017/0293(COD)
Proposal for a regulation
Article 7 – paragraph 9 a (new)
Article 7 – paragraph 9 a (new)
Amendment 391 #
2017/0293(COD)
Proposal for a regulation
Article 12 – paragraph 1 a (new)
Article 12 – paragraph 1 a (new)
1a. The Commission shall assess, by 2024, the feasibility of a real-world CO2 emissions test to ensure the representativeness referred to in paragraph 1 and measure compliance. If the feasibility of such a test is proven, the Commission is empowered to adopt delegated acts in accordance with Article 16 in order to supplement this Regulation with a real-world CO2 emissions test.
Amendment 326 #
2017/0230(COD)
Proposal for a regulation
Recital 54 a (new)
Recital 54 a (new)
(54a) Data used for regulated data benchmarks should be sourced either directly from a trading venue or from an approved reporting mechanism or from an intermediary, as long as this intermediary enjoys no discretion to alter the input data.
Amendment 1142 #
2017/0230(COD)
Proposal for a regulation
Article 8 – paragraph 1 – point -1 a (new)
Article 8 – paragraph 1 – point -1 a (new)
Regulation (EU) No 2016/1011
Article 3 – paragraph 1 – point 24 – point a – introductory part
Article 3 – paragraph 1 – point 24 – point a – introductory part
(1 a) In Article 3, paragraph 1, point (24), point (a), the introductory part is amended as follows: "(a) input data contributed entirely and directly from:"
Amendment 1143 #
2017/0230(COD)
Proposal for a regulation
Article 8 – paragraph 1 – point -1 b (new)
Article 8 – paragraph 1 – point -1 b (new)
Regulation (EU) No 2016/1011
Article 3 – paragraph 1 – point 24 – point a – introductory part
Article 3 – paragraph 1 – point 24 – point a – introductory part
(-1 b) In Article 3, paragraph 1, point (24), point (a), point (vii) is amended as follows: “(vii) a service provider to which the benchmark administrator has outsourced the data collection in accordance with Article 10, with the exception of Article 10(3)(f), provided that the service provider receives the data entirely and directly from an entity referred to in points (i) to (vi);”
Amendment 1163 #
2017/0230(COD)
Proposal for a regulation
Article 8 – paragraph 1 – point 19 a (new)
Article 8 – paragraph 1 – point 19 a (new)
Regulation (EU) No 2016/1011
Article 51 – paragraph 4 a (new)
Article 51 – paragraph 4 a (new)
(19 a) In Article 51, the following paragraph is inserted: "4a. An existing benchmark designated as critical by an implementing act adopted by the Commission in accordance with Article 20 that does not meet the requirements to obtain an authorisation in accordance with Article 34 of this Regulation by 1 January 2020 may, if its discontinuation affects the continuity of contracts that reference it, be used until 31 December 2021.";
Amendment 2 #
2016/2908(RSP)
Recital C a (new)
Ca. whereas the market share of diesel-powered passenger cars grew in the European Union during the last decades to a level where they represent more than half of new cars sold in almost every Member State; whereas this sustained growth in market share of diesel vehicles also came about as a result of the EU climate policy, as diesel technology has a significant advantage over petrol engines when it comes to CO2 emissions; whereas at the combustion stage, diesel engines produce far more pollutants other than CO2, which are significantly and directly harmful to public health, such as NOx, SOx and particulate matter, than do petrol engines; whereas mitigation technologies for these pollutants exist and are deployed in the market;
Amendment 21 #
2016/2908(RSP)
Paragraph 8
8. Calls for the swift adoption of the 3rd and 4th real driving emissions (RDE) packages to complete the regulatory framework for the new type-approval procedure; recalls that, in order for RDE tests to be effective in reducing the discrepancies between the NOx emissions measured in the laboratory and on the road, the specifications of the test and evaluation procedures should be set out very carefully and should cover a wide range of driving conditions, including temperature, engine load, vehicle speed, altitude, type of road and other parameters commonly found when driving in the Union; believes that the relevance of some other parameters should also be considered such as tolerance limits in section 5 of the Annex, Appendix 5.
Amendment 71 #
2016/2908(RSP)
Paragraph 20
20. Calls for a drastic strengthening ofn improved, effective and functional market surveillance in the new EU type- approval framework, on the basis of clearly defined rules and a clearer distribution of responsibilities;
Amendment 79 #
2016/2908(RSP)
Paragraph 21 a (new)
21a. Believes that the possibility of an independent full review of type approval results, including data from coast down tests, will improve the effectiveness of the framework, and that the relevant data should be accessible to relevant parties;
Amendment 122 #
2016/2908(RSP)
Paragraph 28 a (new)
28a. Recalls that emission measurement rules are set to achieve better quality of the air, which was not previously reached due in part to weak law enforcement and in part to manipulation by some car manufacturers; considers that relevant authorities should take into consideration car emissions and data on air quality development to assess if the intended goal is reached;
Amendment 3 #
2016/2215(INI)
Motion for a resolution
Recital C a (new)
Recital C a (new)
C a. whereas the market share of diesel-powered passenger cars grew in the European Union during the last decades to a level where they represent more than half of new cars sold in almost every Member State; whereas this sustained growth in market share of diesel vehicles also came about as a result of EU climate policy, as diesel technology has a significant advantage over petrol engines when it comes to CO2 emissions; whereas at the combustion stage, diesel engines produce far more pollutants other than CO2, which are significantly and directly harmful to public health, such as NOx, SOx and particulate matter, than do petrol engines; whereas mitigation technologies for these pollutants exist and are deployed in the market;
Amendment 11 #
2016/2215(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Available emission control technologies (ECTs), when properly applied, allowed diesel cars to meet the Euro 5 NOx emission limit of 180 mg/km and the Euro 6 NOx emission limit of 80 mg/km by the date of their respective entry into force, in real world conditions and not only in laboratory tests. Evidence shows that Euro 6 emission limits can be met in real world conditions regardless of fuel type, if appropriate widely available technology is used. This implies that some car manufacturers have opted to use technology that assures compliance with emission limits only in laboratory test, not for technical reasons but for economic reasons.
Amendment 73 #
2016/2215(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Defeat devices, as defined in Article 3(10) of Regulation (EC) No 715/2007, were generally not considered among the possible reasons behind the discrepancies between laboratory and on- road NOx emissions and it was not generally suspected that they could be in actual use in any passenger car produced in the EU before the Volkswagen revelations in September 2015. The increasing difference between laboratory test results and the experience of a driver in real world conditions was often attributed to a combination of many factors including allowed margins for laboratory tests.
Amendment 91 #
2016/2215(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. No authority searched for defeat devices or proved the illegal use of defeat devices before September 2015. No Member State authority or technical service performed any tests other than the NEDC in the scope of type-approval, which in itself cannot point to the use of a defeat device. The vast majority of car manufacturers present on the EU market declared that they use the derogations to the ban on defeat devices foreseen in Article 5(2) of Regulation (EC) No 715/2007. The legality of the use of the derogations is subject to ongoing investigations and court cases. Unlike in some non-EU countries, neither government authorities nor courts took a clear decision on the issue of the limits of use of this derogation.
Amendment 95 #
2016/2215(INI)
Motion for a resolution
Paragraph 18 a (new)
Paragraph 18 a (new)
18 a. Experts have noted the consensus view that the pre-emptive checking and possible detection of a fraudulent emissions system defeat device through unrestricted access to the vehicle's proprietary software is not a viable method, due to the extreme complexity of such software. Unrestricted access to such software would also present significant risk of disclosure of intellectual property rights' protected technology, which in turn could have a negative effect on innovation in the automotive sector.
Amendment 101 #
2016/2215(INI)
Motion for a resolution
Paragraph 19
Paragraph 19
19. Member States contravened their legal obligation to monitor and enforce the ban on defeat devices set out in Article 5(2) of Regulation (EC) No 715/2007. None of them found the defeat devices installed in the Volkswagen vehicles. Moreover, according to our investigations, most Member States, and at least Germany, France, Italy and Luxembourg, had evidence that irrational emission control strategies, based on were not focused on use of a car in real world conditions but were rather responding to conditions similar to the NEDC test cycle (temperature, duration, speed), were used in order to pass the type-approval test cycle. Ongoing investigations and court cases at national level will decide if emission control strategies used by car manufacturers constitute an illegal use of defeat devices or a lawful application of the derogations.
Amendment 128 #
2016/2215(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. The level of technical expertise and human and financial resources may vary substantially between type-approval authorities and technical services, and the lack of a harmonised interpretation of the rules can lead to competition among themsetup of type-approval process within the EU and the organisation of type-approval process in some Member States has lead in practice in some cases to competition among type-approval authorities and also among technical services. Car manufacturers are, in principle, free to address the type-approval authority and technical service with the most flexible and least stringent interpretation of the rules, as well as the lowest fees. If this is the case, it can in some instances worsen compliance with relevant legislation and create a form of regulatory arbitrage.
Amendment 134 #
2016/2215(INI)
Motion for a resolution
Paragraph 29 a (new)
Paragraph 29 a (new)
29 a. In addition to the above mentioned weaknesses of type-approval and conformity production procedures, all laboratory tests rely on data on Road Load parameters that are not subject to conformity testing by authorities and cannot be subject to independent testing, as the data are not provided by car manufactures. As confirmed by several studies, for most cars used in real world conditions, higher Road Load leads to lower emissions calculated for such cars in laboratory tests.
Amendment 143 #
2016/2215(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. The Member States should have ensured that type-approval authorities adequately audit technical services. This constitutes maladministration. The choice of the technical service is prime auditing was only very rariely the choice of the car manufacturer, and the role of the type-approval authority is often just to validate the procedure at the end. The possibility available to type-approval authorities to audit technical services and to challenge the choice of technical service is very rarely usedused. This can constitute maladministration, regardless of the fact that there is no evidence of manipulation of the results by technical services.
Amendment 10 #
2016/2101(INI)
Motion for a resolution
Recital B
Recital B
B. whereas Europe still faces a huge investment deficit, even though the current account surplus in the eurozone continues to rise, theoretically creating, in order to improve its competitiveness that is the precondition for sustainable economic growth, Europe needs to increase investment mainly by taking advantage of the more favourable conditions for public and private investment due tocaused by the exceptionally low interest rates on government borrowing;
Amendment 35 #
2016/2101(INI)
Motion for a resolution
Recital D
Recital D
D. whereas falling oil prices at the start of 2016 that have a positive impact on the EU economy appear to be the key reason dragging down the inflation rate to below zero levels;
Amendment 41 #
2016/2101(INI)
Motion for a resolution
Recital E
Recital E
E. whereas political developments such as the question of the UK’s membership of the Union, relations with Russia and, the refugee crisis and uncertainties in global economic development, particularly concerning future development of China's economy, have compounded uncertainties and further served to inhibit investment;
Amendment 50 #
2016/2101(INI)
Motion for a resolution
Recital F
Recital F
F. whereas European Parliament, in its resolution on the Annual Growth Survey 2016, requested an improved policy mix and a specific focus on the euro area;
Amendment 71 #
2016/2101(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that the challenges in the EU are linked to the deteriorating international economic and political environment and the divergences in the economic and social performance achieved in different parts of the Union;
Amendment 98 #
2016/2101(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Welcomes the Commission’s continuing approach to limit the number of recommendations and its effort to mainstream the semester by covering mainly key priority areas of macroeconomic and social relevance, when setting the policy objectives for the next 18 months; reiterates that this facilitates the implementation of recommendations according to a comprehensive and meaningful range of social benchmarks; stresses that reduction of number of recommendation by merging thematically different recommendation under one point does not yield any benefits;
Amendment 104 #
2016/2101(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Fully supports the effortsAsks Member States to madke tocontinuous effort in ensureing greater national ownership in the formulation and implementation of CSRs as an ongoing reform process that is highly important for their future prosperity;
Amendment 149 #
2016/2101(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Underlines that the still-too-high unemployment rates show that the capacity to create jobs in most Member States is still limited; emphasises that further action is needed, in consultation with employers, entrepreneurs and other social partners and in accordance with national practices, to make labour markets more inclusive overall;
Amendment 155 #
2016/2101(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Expresses disquiet about the current ‘liquidity trap’ the EU economy seems to have fallen into, with interest rates at the Zero Lower Bound (ZLB), weak demand prospects, and restricted investmenReiterates that under the current economic situation with the liquidity surplus and interest rates at the Zero Lower Bound (ZLB), the key macroeconomic measures that cand spending by households and companies, not lea promote economic growth lie in structural reforms and effective and sust ain surplus countriesable fiscal policy;
Amendment 169 #
2016/2101(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the Commission’s recommendation for three Member States to exit the Excessive Deficit Procedure (EDP); agrees with the Commission that large and consistent current account surpluses reflect a clear need to stimulate demand and investment in order to cope with the challenges of the futurthat are growing since the economic crisis also reflect a weak domestic demand; stresses the need to promote an effective investment particularly in the aregardinga of transport and communications, the digital economy, education and research, climate change, energy, environmental protection and the ageing population; calls on the Commission to continue to support responsible and sustainable budgetary policies that underpin growth and recovery in all Member States and support sustainable structural reforms;
Amendment 200 #
2016/2101(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Notes that further measures are needed to reduce non-performing loans (NPL) in the euro area and to increase the ability of banks to lend to the real economy, notably to SMEs; stresses the need not to disincentivise banks to write off such a loans;
Amendment 207 #
2016/2101(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Underlines the fact that investment has so far lagged and failed to lead to sustainable and inclusive growth in the EU and that under the current circumstances, monetary policy alone is unlikely to bring about recovery, even though the rules made necessary by banking unionopted in reaction to financial crisis, have imposed more stringent financial criteria on banks; considers that a coordinated fiscal expansionanti-cyclical fiscal stance of Member States' fiscal policies is also needed in the EU, therefore, in line with the rules of the Stability and Growth Pact and its flexibility clauses, in order to place emphasis on public and private investment, while ensuring responsibility and sustainability of fiscal policies in Member States;
Amendment 239 #
2016/2101(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Emphasises the need to improve the EU’s overall capacity to create and sustain jobs and thus to tackle high levels of unemployment, while considering that migration could play an important role in compensating for the negative effects of the ageing population; emphasises, however, that this alone cannot be the main response to address structural demographic, labour market or fiscal challenges but that it should be complemented with efficient public expenditure, especially sustainable and responsible fiscal policy promoting high-quality social and environmentally sustainable investments;
Amendment 269 #
2016/2101(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Invites the Commission to give priority to measures that reduce the obstacles to greater investment flows, which arise at both an EU level from a lack of clarity regarding strategies that are to be followed, especially in the fields of energy, transport, communications and the digital economy, as well as from the effect on bank lending in the wake of the adoption of the banking unionnew regulatory framework, and a national level from cumbersome legal systems, corruption, lack of transparency, outdated and excessive bureaucracy, inadequate digitalisation of public services, misallocation of resources, lack of mutual recognition of academic and technical qualifications in the professions and certain services sectors, and educational systems that remain out of synch with modern requirements;
Amendment 277 #
2016/2101(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
Amendment 309 #
2016/2101(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Points out that efforts should be made to remove remaining barriers to investment in the Member States and allow for a more suitable policy mix, including a genuine focus on research and development spending; believes that public and private spendromotion of more efficient and higher investment ing and support for research and higher education institutions are crucial factors and that the weakness or absence of this infrastructure places certain countries at a massive disadvantage;
Amendment 147 #
2016/2058(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Highlights the fundamental role of RES, and in particular photovoltaic cells and solar panels, in the heating of water and the provision ofrenewable energy technologies, including aero thermal, biomass, geothermal, solar thermal and cross cutting technologies and thermal storage facilities, in providing hot water and thermal comfort in buildings, in conjunction with thermal storage facilities that can be used at nighta sustainable manner and in support of EU's climate and energy ambitions;
Amendment 158 #
2016/2058(INI)
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Considers that issues surrounding energy security in the EU largely concern the security of heat supply; considers, therefore, the diversification of sources for heating to be of utmost importance and calls on the Commission to explore ways to further support and accelerate the increased deployment of renewable heat technologies;
Amendment 185 #
2016/2058(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Calls on local, regional and national authorities to facilitakte the necessary steps towards thefurther thermomodernisation of existing public or, residential buildings with low thermal comfort or comfort coolingand commercial buildings in support of the objectives of both Member States and the EU to reduce greenhouse gas emissions by 40 % by 2030;
Amendment 251 #
2016/2058(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Expresses the view that, in Europe's temperate climate zone, reverse systems for heating (winter) and cooling (summer) using heat pumps could become very important generates a need for reverse systems, such as heat pumps, to provide both heating and cooling; therefore calls on the Commission and Member States to provide adequate aligned calculation methods and to share best practices for support mechanisms to support efficient, sustainable and low- carbon solutions to various thermal needs;
Amendment 372 #
2016/2058(INI)
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Highlights the need for increased Research, Development and Innovation actions in Renewable Heating and Cooling (RHC) technologies to reduce costs, enhance system performance and increase deployment and integration into the energy system; Calls on the Commission to work with sector stakeholders to maintain updated technology roadmaps on RHC to coordinate, track, and identify gaps in RHC technology development;
Amendment 377 #
2016/2058(INI)
Motion for a resolution
Paragraph 23 b (new)
Paragraph 23 b (new)
23b. Believes that investment in Energy Efficiency in buildings should go hand in hand with investment in Renewable Heating and Cooling (RHC); considers the synergies that are found between Energy Efficiency in buildings and RHC to present a significant opportunity in the move towards a low-carbon economy; welcomes efforts at national level to increase the number of nearly zero-energy buildings;
Amendment 64 #
2016/0404(COD)
Proposal for a directive
Recital 7
Recital 7
(7) The activities covered by this Directive should concern the regulated professions falling within the scope of Directive 2005/36/EC. This Directive should apply in addition to Directive 2005/36/EC and without prejudice to other provisions laid down in a separate Union act concerning access to, and the exercise of a given regulated profession. While professional activities in the healthcare services sector are covered by the assessment referred to in Article 59 of Directive 2005/36/EC and thus are within the scope of this Directive, the Directive respects Member States' competence to regulate professions in the field of public health based on Article 168(7) TFEU as well as their margin of appreciation to guarantee a high level of health care and patient safety, within the limits of proportionality.
Amendment 96 #
2016/0404(COD)
Proposal for a directive
Recital 11
Recital 11
(11) Member States should carry out proportionality assessments in an objective and independent manner, including where a profession is regulated indirectly, by giving a particular professional body the power to do so. In particular, while the assessment of the local authorities,cases where regulatory bodies or profesvisional organisations, whose greater proximity to local conditions and specialised knowledge could in certain cases make them better placed to identify ts restricting the access to or pursuit of the regulated profession are established best way of meeting the public interest objectivey professional bodies such as orders or chambers, there is a particular reason for concern in cases where the policy choice made by those authorities or bodies provides benefits togiven the proximity of such bodies to local conditions and a risk that policy choices made might favour established operators at the expense of new market entrants.
Amendment 125 #
2016/0404(COD)
Proposal for a directive
Recital 18
Recital 18
(18) The economic impact of the measure, including a cost-benefit analysis with particular regard to the degree of competition in the market and the quality of the service provided, as well as the impact on the right to work and on the free movement of persons and services within the Union should be duly taken into account by the competent authorities. Based on this analysis, Member States should ascertain, in particular, whether the extent of the restriction of access to or pursuit of regulated professions within the Union is proportionate to the importance of the objectives pursued and the expected gains. With regard to protection of public health, the Member States should be able to decide on the degree of importance of economic considerations in relation to other relevant proportionality criteria.
Amendment 132 #
2016/0404(COD)
Proposal for a directive
Recital 19
Recital 19
(19) Member States should carry out a comparison between the national measure at issue and the alternative and less restrictive solutions that would allow the same objective to be attained but would impose fewer restrictions. Where the measures are justified by consumer protection and where the risks identified are limited to the relationship between the professional and the consumer without negatively affecting third parties, the objective could be attained by less restrictive means than reserving activities to professionals, such as protection of the professional title or enrolment on a professional register. Regulation by way of reserved activities should be used only in cases where the measures aim at preventing a risk of serious harm to public interest objectives. This Directive should apply to requirements concerning compulsory chamber membership, in particular where those requirements imply additional cost or administrative procedures.
Amendment 168 #
2016/0404(COD)
Proposal for a directive
Article 2 – paragraph 1 a (new)
Article 2 – paragraph 1 a (new)
1 a. Within the limits of proportionality, Member States shall enjoy a margin of discretion to decide whether and how to regulate professions.
Amendment 178 #
2016/0404(COD)
Proposal for a directive
Article 4 – paragraph 1
Article 4 – paragraph 1
1. Member States shall ensure that before introducing new legislative, regulatory or administrative provisions restricting access to or pursuit of regulated professions, or amending existing ones, the relevant competent authorities undertake an assessment of their proportionality in accordance with the rules laid down in this Directive. This shall not apply to editorial amendments or technical adaptations to content of training courses which do not restrict access to or pursuit of regulated professions.
Amendment 223 #
2016/0404(COD)
Proposal for a directive
Article 6 – paragraph 1 a (new)
Article 6 – paragraph 1 a (new)
1 a. The assessment shall be proportionate to the nature, the content and the impact of the provision being introduced or amended, taking into account the specificities of the profession concerned and the regulation already in place.
Amendment 229 #
2016/0404(COD)
Proposal for a directive
Article 6 – paragraph 2 – introductory part
Article 6 – paragraph 2 – introductory part
2. When assessing the necessity and the proportionality of the provisions, the relevant competent authoritiproportionality, the Member States shall consider in particular and in any event:
Amendment 239 #
2016/0404(COD)
Proposal for a directive
Article 6 – paragraph 2 – point b
Article 6 – paragraph 2 – point b
(b) the suitability of the provision namely as regards its appropriateness to attain the objective pursued and whether it genuinelythe provision reflects thate objective pursued in a consistent and systematic manner and thus, addresses the risks identified in a similar way as in comparable activities;
Amendment 273 #
2016/0404(COD)
Proposal for a directive
Article 6 – paragraph 2 – point i
Article 6 – paragraph 2 – point i
(i) the economic impact of the measure, with particular regard to the degree of competition in the market and, the quality of the service provided, consumer choice, employment opportunities, as well as the impact on the free movement of persons and services within the Union; the importance of this criterion may depend upon the public interest objectives being pursued;
Amendment 278 #
2016/0404(COD)
Proposal for a directive
Article 6 – paragraph 2 – point j
Article 6 – paragraph 2 – point j
(j) the possibility to use less restrictive means to achieve the public interest objective; where the measures are justified by consumer protection and where the risks identified are limited to the relationship between the professional and the consumer without negatively affecting third parties, the relevant competent authorities shall assess in particular whether the objective can be attained by protected professional title without reserving activities.
Amendment 189 #
2016/0382(COD)
Proposal for a directive
Recital 18
Recital 18
(18) Without prejudice to adaptations of support schemes to bring them in line with State aid rules, renewables support policies should be stable and avoid frequent or retroactive changes. Such changes have a direct impact on capital financing costs, the costs of project development and therefore on the overall cost of deploying renewables in the Union. Member States should prevent the revision of any support granted to renewable energy projects from having a negative impact on their economic viability. In this context, Member States should promote cost-effective support policies and ensure their financial sustainability for consumers.
Amendment 279 #
2016/0382(COD)
Proposal for a directive
Recital 55 a (new)
Recital 55 a (new)
(55a) It is important that Member States ensure a fair and non-distortionary allocation of networks costs and levies to all users of the electricity system. All network tariffs should be cost reflective.
Amendment 342 #
2016/0382(COD)
Proposal for a directive
Article 2 – paragraph 2 – point a
Article 2 – paragraph 2 – point a
(a) ‘energy from renewable sources’ means energy from renewable non-fossil sources, namely wind, solar (solar thermal and solar photovoltaic) and, geothermal energy, ambient heat, tide, wave and other ocean energy, hydropower, biomass, landfill gas, sewage treatment plant gas and biogases, biomethane, and hydrogen and synthetic gas produced from renewable electricity;
Amendment 377 #
2016/0382(COD)
Proposal for a directive
Article 2 – paragraph 2 – point g
Article 2 – paragraph 2 – point g
(g) ‘biofuels’ means liquid or gaseous fuel for transport produced from biomass;
Amendment 397 #
2016/0382(COD)
Proposal for a directive
Article 2 – paragraph 2 – point z
Article 2 – paragraph 2 – point z
(z) ‘repowering’ means renewing power plants producing renewable energy, including the full or partial replacement of installations or operation systems and equipment, in order to replace or increase capacity or increase efficiency;
Amendment 411 #
2016/0382(COD)
Proposal for a directive
Article 2 – paragraph 2 – point a a
Article 2 – paragraph 2 – point a a
(aa) ‘renewable self-consumer’ means an active customer as defined in Directive [MDI Directive] who consumes and may store and sell renewable electricity which is generated within his or its premisesbehind the point of his or its connection to the grid, including a multi- apartment block, a commercial or shared services site or a closed distribution system, provided that, for non-household renewable self- consumers, those activities do not constitute their primary commercial or professional activity;
Amendment 424 #
2016/0382(COD)
Proposal for a directive
Article 2 – paragraph 2 – point c c
Article 2 – paragraph 2 – point c c
(cc) ‘power purchase agreement’ means a contract under which a legal or natural person agrees to purchase renewable electricity directly from an energy generator;
Amendment 522 #
2016/0382(COD)
Proposal for a directive
Article 4 – paragraph 1
Article 4 – paragraph 1
1. Subject to State aid rules, in order to reach the Union target set in Article 3(1), Member States may apply support schemes. Support schemes for electricity from renewable sources shall be designed so as tomarket- based and market responsive, thereby fostering market integration, avoiding unnecessary distortions of electricity markets, and ensureing that producers take into account the supply and demand of electricity as well as possible grid constraints.
Amendment 551 #
2016/0382(COD)
Proposal for a directive
Article 4 – paragraph 3
Article 4 – paragraph 3
3. Member States shall ensure that support for renewable electricity is granted in an open, transparent, competitive, non- discriminatory and cost-effective manner. Member States may opt for technology- specific support schemes to accommodate less mature technologies, to take into account the potential of local renewable energy resources, or to take account of system impacts of different technologies.
Amendment 647 #
2016/0382(COD)
Proposal for a directive
Article 5 – paragraph 4
Article 5 – paragraph 4
4. The Commission shall assess by 2025 the benefits on the cost-effective deployment of renewable electricity in the Union of provisions set out in this Article. On the basis of this assessment, the Commission may propose to increasemodify the percentages set out in paragraph 2.
Amendment 741 #
2016/0382(COD)
Proposal for a directive
Article 15 – paragraph 5 – subparagraph 3
Article 15 – paragraph 5 – subparagraph 3
Member States shall, in their building regulations and codes or by other means with equivalent effect, require the use of minimum levels of energy from renewable sources in new buildings and in existing buildings that are subject to major renovation, reflecting the results of the cost-optimal calculation carried out pursuant to Article 5(2) of Directive 2010/31/EU. Member States shall permit those minimum levels to be fulfilled, inter alia, using a significant proportion of renewable energy sources and/or waste heat and cold.
Amendment 761 #
2016/0382(COD)
Proposal for a directive
Article 15 – paragraph 9
Article 15 – paragraph 9
9. Member States shall remove administrative, regulatory and information barriers to corporate long- term power purchase agreements to finance renewables and facilitate their uptake, and ensuring that these are not subject to disproportionate charges that are not cost reflective.
Amendment 786 #
2016/0382(COD)
Proposal for a directive
Article 16 – paragraph 5
Article 16 – paragraph 5
5. Member States shall facilitate the repowering of existing renewable energy plants by, inter alia, ensuring a simplified and swift permit granting process, which shall not exceed one year from the date on which the request for repowering is submitted to the single administrative contact point. Without prejudice to Article 11(4) of the [Electricity Regulation], Member States shall ensure that access and connection rights to the grid are maintained for repowered projects at least in cases in which there is no change to capacity.
Amendment 809 #
2016/0382(COD)
Proposal for a directive
Article 17 – paragraph 2 – subparagraph 1
Article 17 – paragraph 2 – subparagraph 1
Repowering shall be allowed following a notification to the single administrative contact point established in accordance with Article 16, where no singnificant negative environmental or social impact is expected, based on a pre-established list of criteria. The single administrative contact point shall decide within six months of the receipt of the notification if this is sufficient.
Amendment 906 #
2016/0382(COD)
Proposal for a directive
Article 20 – paragraph 3
Article 20 – paragraph 3
3. Subject to their assessment included in the integrated national energy and climate plans in accordance with Annex I of Regulation [Governance], on the necessity to build new infrastructure for district heating and cooling produced from renewable energy sources and waste heat or cold in order to achieve the Union target referred to in Article 3(1) of this Directive, Member States shall, where relevant, take steps with a view to developing a district heating infrastructure to accommodate the development of heating and cooling production from large biomass, solar and geothermal facilities and waste heat or cold.
Amendment 923 #
2016/0382(COD)
Proposal for a directive
Article 21 – paragraph 1 – subparagraph 1 – point a
Article 21 – paragraph 1 – subparagraph 1 – point a
(a) are entitled to carry out self- consumption and sell, including through power purchase agreements, their excess production of renewable electricity without being subject to disproportionate procedures and without being subject to or benefitting from charges that are not cost- reflective;
Amendment 1018 #
2016/0382(COD)
Proposal for a directive
Article 22 – paragraph 2
Article 22 – paragraph 2
2. Without prejudice to State aid rules, when designing support schemes, Member States shall take into account the specificities of renewable energy communities., while ensuring a level playing field between all generators of electricity from renewable energy sources;
Amendment 1036 #
2016/0382(COD)
Proposal for a directive
Article 23 – paragraph 1
Article 23 – paragraph 1
1. In order to facilitate the penetration of renewable energy and/or waste heat and cold in the heating and cooling sector, each Member State shall endeavour to increase the share of renewable energy and/or waste heat and cold supplied for heating and cooling by at least 1 percentage point (pp) every year, expressed in terms of national share of final energy consumption and calculated according to the methodology set out in Article 7.
Amendment 1055 #
2016/0382(COD)
Proposal for a directive
Article 23 – paragraph 3 – point a
Article 23 – paragraph 3 – point a
(a) physical incorporation of renewable energy and/or waste heat and cold in the energy and energy fuel supplied for heating and cooling;
Amendment 1061 #
2016/0382(COD)
Proposal for a directive
Article 23 – paragraph 3 – point b
Article 23 – paragraph 3 – point b
(b) direct mitigation measures such as installation of highly efficient renewable heating and cooling systems in buildings or renewable energy and/or waste heat and cold use for industrial heating and cooling processes;
Amendment 1070 #
2016/0382(COD)
Proposal for a directive
Article 23 – paragraph 3 – point c a (new)
Article 23 – paragraph 3 – point c a (new)
(ca) other policy measures with an equivalent effect to reach the increase set out in paragraph (1).
Amendment 1080 #
2016/0382(COD)
Proposal for a directive
Article 23 – paragraph 5 – point b
Article 23 – paragraph 5 – point b
(b) the total amount of renewable energy and/or waste heat and cold supplied for heating and cooling;
Amendment 1087 #
2016/0382(COD)
Proposal for a directive
Article 23 – paragraph 5 – point d
Article 23 – paragraph 5 – point d
(d) the type of renewable energy and/or waste heat and cold source.
Amendment 1102 #
2016/0382(COD)
Proposal for a directive
Article 24 – paragraph 1
Article 24 – paragraph 1
1. Member States shall ensure that district heating and cooling suppliers provide information to end-consumers on their energy performance and the share of renewable energy in their systems. Such information shall be provided on an annual basis in accordance with standards used under Directive 2010/31/EU.
Amendment 1103 #
2016/0382(COD)
Proposal for a directive
Article 24 – paragraph 1
Article 24 – paragraph 1
1. Member States shall ensure that district heating and cooling suppliers provide information to end-consumers on their energy performance and the share of renewable energy and/or waste heat and cold in their systems. Such information shall be in accordance with standards used under Directive 2010/31/EU.
Amendment 1127 #
2016/0382(COD)
Proposal for a directive
Article 24 – paragraph 4
Article 24 – paragraph 4
4. Member States shall lay down the necessary measures to ensure non- discriminatory access to dthat there are no regulatory barriers for District hHeating or cand Cooling systems forto buy heat or cold produced from renewable energy sources and for waste heat or cold. This non- discriminatory access shall enable direct supply of heating or cooling from such sources to customers connected to when it is economically and technically feasible for the dDistrict hHeating or cooling system by suppliers other than the operator ofsystem operators and customers connected to the dDistrict hHeating or cooling sSystem.
Amendment 234 #
2016/0380(COD)
Proposal for a directive
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
1a. Member States shall ensure that their national legislation ensure for equal level-playing field and does not discriminate against market participants.
Amendment 260 #
2016/0380(COD)
Proposal for a directive
Article 5 – paragraph 2
Article 5 – paragraph 2
2. Member States shall ensure the protection of energy poor or vulnerable customers in a targeted manner by other means than public interventions in the price-setting for the supply of electricity or social network tariffs.
Amendment 946 #
2016/0380(COD)
Proposal for a directive
Article 33 – paragraph 2 – introductory part
Article 33 – paragraph 2 – introductory part
2. Member States may allow distribution system operators to own, develop, manage or operate public recharging points for electric vehicles only if the following conditions are fulfilled:
Amendment 963 #
2016/0380(COD)
Proposal for a directive
Article 33 – paragraph 4
Article 33 – paragraph 4
4. Member States shall perform at regular intervals or at least every five years a public consultation in order to re-assess the potential interest of market parties to own, develop, operate or manage public recharging points for electric vehicles. In case the public consultation indicates that third parties are able to own, develop, operate or manage such points, Member States shall ensure that distribution system operators' activities in this regard are phased-out.
Amendment 237 #
2016/0379(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point v
Article 2 – paragraph 2 – point v
(v) 'strategic reserve' means a capacity mechanism in which resources are only dispatched in case day-ahead and intraday markets have failed to clear, transmission system operators have exhausted their balancing resources to establish an equilibrium between demand and supply, and imbalances in the market during periods where the reserves were dispatched are settled at the value of lost load;. The conditions for setting up strategic reserves must be set in a way that they will by no means encourage the new build of electricity generation. Strategic reserve, that is created, must be operated only according to transparent and pre-agreed rules. The strategic reserve should not be used to reduce volatility of market electricity price or to reduce incentives of market participants to own, operate or invest into the generation/storage focused on benefiting from market price peaks. Strategic reserve must be acquired through transparent and open bidding, in line with the unbundling rules and it cannot be owned neither by TSOs, DSOs or public sector.
Amendment 405 #
2016/0379(COD)
Proposal for a regulation
Article 5 – paragraph 9
Article 5 – paragraph 9
9. The procurement of upward balancing capacity and downward balancing capacity shall be carried out separately. TAt least 50% of the contracting shall be performed for not longer than one day before the provision of the balancing capacity and the contracting period shall have a maximum of one dayremaining part shall be contracted up to 3 months.
Amendment 655 #
2016/0379(COD)
Proposal for a regulation
Article 13 – paragraph 1 a (new)
Article 13 – paragraph 1 a (new)
1 a. The costs of remedial actions should be shared among TSOs based on the ‘polluter-pays principle’, where the “polluter” should be defined as the transmission system operators of areas generating unscheduled flows and the transmission system operator of the congested asset in proportion to the contribution of unscheduled and scheduled flows, respectively, to the overload.
Amendment 961 #
2016/0379(COD)
Proposal for a regulation
Article 21 – paragraph 1
Article 21 – paragraph 1
1. Mechanisms other than strategic reserveCapacity mechanisms shall be open to direct participation of capacity providers located in another Member State provided there is a network connection between that Member State and the bidding zone applying the mechanism.
Amendment 1077 #
2016/0379(COD)
4. Generation capacity for which a final investment decision has been made after [OP: entry into force] shall only be eligible to participate in a capacity mechanism other than strategic reserve if its emissions are below 550 gr CO2/kWh. Generation capacity emitting 550 gr CO2/kWh or more shall not be committed in capacity mechanisms other than strategic reserves 5 years after the entry into force of this Regulation.
Amendment 1103 #
2016/0379(COD)
Proposal for a regulation
Article 23 – paragraph 5 a (new)
Article 23 – paragraph 5 a (new)
5a. Where implemented, capacity mechanisms shall be well designed: market-based, technology-neutral, open to existing and new assets, open to cross- border participation
Amendment 1571 #
2016/0379(COD)
Proposal for a regulation
Annex I – part 13 – point 13.1
Annex I – part 13 – point 13.1
13.1. If ENTSO for Electricity-E delegates this function, regional operational centres shall identify regional crisis scenarios in accordance with the criteria set out in Article 6(1) of [Risk Preparedness Regulation as proposed by COM(2016) 862]
Amendment 1574 #
2016/0379(COD)
Proposal for a regulation
Annex I – part 13 – point 13.2
Annex I – part 13 – point 13.2
13.2. RIf ENTSO-E delegates this function, regional operational centres shall prepare and carry out yearly crisis simulation in cooperation with competent authorities according to Article 12(3) of [Risk Preparedness Regulation as proposed by COM(2016) 862].
Amendment 30 #
2016/0377(COD)
Proposal for a regulation
Recital 2
Recital 2
(2) Well-functioning markets and systems are the best guarantee of security of supply. However, even where markets and systems function well, the risk of an electricity crisis (especially as a result of extreme weather conditions, malicious attacks or a fuel shortage) can never be excluded. The consequences of crisis situations often extend beyond national borders. Even where incidents start locally their effects can rapidly spread across borders. Some extreme circumstances, such as a cold spell, a heat wave or a cyber-attack, may affect entire regions at the same time.
Amendment 34 #
2016/0377(COD)
Proposal for a regulation
Recital 5
Recital 5
(5) The System operation guidelines24 and the Network code on emergency and restoration25 constitute a detailed rulebook governing how transmission system operators and other relevant actors should act and cooperate to ensure system security. These technical rules should ensure that most electricity incidents are dealt with effectively at operational level. This Regulation focuses on electricity crisis situations that may have a larger scale and impact. It sets out what Member States should do to prevent such situations and what measures they can take should system operational rules alone no longer suffice. Even in crisis situations, however, system operation rules should continue to be fully respected and consistency should be ensured between the provisions of this Regulation and the Network Code System Operation Guidelines on Emergency and Restoration. _________________ 24 Commission Regulation (EU) …/…of XXX establishing a guideline on electricity transmission system operation, OJ [...] 25 Commission Regulation (EU) …/…of XXX establishing a network code on electricity emergency and restoration, OJ [...].
Amendment 39 #
2016/0377(COD)
Proposal for a regulation
Recital 6
Recital 6
(6) This Regulation sets out a common framework of rules on how to prevent, prepare for and manage electricity crisis situations, bringing more transparency in the preparation phase and during an electricity crisis and ensuring that, even in a crisis, electricity is delivered where it is needed most. It requires Member States to cooperate at regional level, in a spirit of solidarity. It also sets out a framework for an effective monitoring of security of supply in Europe via the Electricity Coordination Group. This should result in better risk preparedness at a lower cost and lower impact of crises on citizens and companies. It should also strengthen the internal energy market by enhancing trust and confidence across Member States and ruling out inappropriate state interventions in crisis situations, in particular avoiding undue curtailment of cross-border flows. and cross-zonal transmission capacities
Amendment 77 #
2016/0377(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point b
Article 2 – paragraph 2 – point b
(b) 'electricity crisis' means a situation of significant electricity shortage or impossibility to deliver electricity to end- consumers, either existent or imminent, based on parameters defined in national and regional crisis scenarios;
Amendment 80 #
2016/0377(COD)
Proposal for a regulation
Article 2 – paragraph 2 – point e
Article 2 – paragraph 2 – point e
(e) 'non-market measure' means any supply, network- or demand-side measure deviating from market rules or commercial agreements, with a view to mitigate an electricity crisis;
Amendment 108 #
2016/0377(COD)
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. Before submitting the proposed methodology, ENTSO-E shall conduct a consultation exercise involving at least the industry andgenerators, suppliers and other market participants (such as balancing responsible providers, storage providers etc.), consumer organisations, distribution system operators, national regulatory authorities and other national authorities. ENTSO-E shall duly take into account the results of the consultation.
Amendment 132 #
2016/0377(COD)
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
1. By [OPOCE to insert exact date: ten months after entry into force of this Regulation], Member States shall identify the most relevant electricity crisis scenarios at the national level, with at least the direct involvement of national distribution, transmission system operators, and generators. The identification of crisis scenarios at national level shall be consistent with System defence plan established in application of Network code on Emergency and Restoration.
Amendment 151 #
2016/0377(COD)
Proposal for a regulation
Article 8 – paragraph 2
Article 8 – paragraph 2
2. Before submitting the proposed methodology, ENTSO-E shall conduct a consultation involving at least the industry andgenerators, suppliers and other market participants (such as balancing responsible providers, storage providers etc.), consumer, distribution system operators, national regulatory authorities and other national authorities. ENTSO-E shall duly take into account the results of the consultation.
Amendment 163 #
2016/0377(COD)
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
1. On the basis of the regional and national electricity crisis scenarios identified pursuant to Articles 6 and 7, the competent authority of each Member State shall establish a risk-preparedness plan, after consulting the electricity and gas undertakings, transmission and distribution system operators, the relevant organisations representing the interests of household and industrial electricity customers and the national regulatory authority (where it is not the competent authority).
Amendment 207 #
2016/0377(COD)
Proposal for a regulation
Article 15 – paragraph 2
Article 15 – paragraph 2
2. Non-market measures may be activated in a crisis situation and only if all options provided by the market have been exhausted. They shall not unduly distort competition and the effective functioning of the electricity market. They shall be necessary, proportionate, non- discriminatory and temporary. Affected market parties shall be duly informed at earliest convenience if any non-market measures are applied.
Amendment 211 #
2016/0377(COD)
Proposal for a regulation
Article 15 – paragraph 3
Article 15 – paragraph 3
3. Transaction curtailment including curtailment of already allocated cross- zonal capacity, limitation of provision of cross-zonal capacity for capacity allocation or limitation of provision of schedules shall only be initiated in compliance with the rules laid down in Article 14(2) of Electricity Regulation [proposed Electricity Regulation], Article 72 of Commission Regulation(EU) 2015/1222 establishing guideline on capacity allocation and congestion management and the rules adopted to specify this provision.
Amendment 214 #
2016/0377(COD)
Proposal for a regulation
Article 16 – paragraph 2 – point e
Article 16 – paragraph 2 – point e
(e) the economic impact of the electricity crisis and, the impact of the measures taken on the electricity sector, in particular the volumes of energy non- served and the level of manual demand disconnection (including a comparison between the level of voluntary and forced demand disconnection) and the measures imposed on stakeholders such as power generators, suppliers and other relevant market participants;
Amendment 215 #
2016/0377(COD)
Proposal for a regulation
Article 16 – paragraph 2 – point e
Article 16 – paragraph 2 – point e
(e) the economic impact of the electricity crisis and the impact of the measures taken on the electricity sector, in particular the volumes of energy non- served, curtailment of available or allocated cross-zonal capacities, and the level of manual demand disconnection (including a comparison between the level of voluntary and forced demand disconnection);
Amendment 228 #
2016/0377(COD)
Proposal for a regulation
Annex I – part 3 – subpart 3.1 – point c
Annex I – part 3 – subpart 3.1 – point c
(c) Describe measures to mitigate electricity crisis situations, notably demand-side, network-side and supply-side measures, whilst indicating in which circumstances these measures can be used especially the trigger of each measure. Where non-market measures are considered, they must be duly justified in light of the requirements set forth in Article 15;
Amendment 232 #
2016/0377(COD)
Proposal for a regulation
Annex I – part 5 – paragraph 1 – point d a (new)
Annex I – part 5 – paragraph 1 – point d a (new)
(d a) (e) Transmission and distribution system operators
Amendment 112 #
2016/0376(COD)
Proposal for a directive
Recital 3
Recital 3
(3) The European Council of October 2014 set a 27 % energy efficiency target for 2030, to be reviewed by 2020 'having in mind an Union level of 30 %'. In December 2015, the European Parliament called upon the Commission to also assess the viability of a 40 % energy efficiency target for the same timeframe. It is therefore appropriate to review and consequently amend the Directive to adapt it to the 2030 perspective.
Amendment 128 #
2016/0376(COD)
Proposal for a directive
Recital 4
Recital 4
(4) There are no binding targets at national level in the 2030 perspective. The need for the Union to achieve its energy efficiency targets at EU level, expressed in primary and final energy consumption, in 2020 and 2030 should be clearly set out in the form of a binding 30 % target. This clarification at Union level should not restrict Member States as their freedom is kept to set their national contributions based on either primary or final energy consumption, primary or final energy savings, or energy intensity. Member States should set their national indicative energy efficiency contributions taking into account that the Union’'s 2030 energy consumption has toshould be no more than 1 321 Mtoe of primary energy and no more than 987 Mtoe of final energy. This means that primary energy consumption should be reduced by 23 % and final energy consumption should be reduced by 17 % in the Union compared to 2005 levels. A regular evaluation of progress towards the achievement of the Union 2030 target is necessary and is provided for in the legislative proposal on Energy Union Governance.
Amendment 144 #
2016/0376(COD)
Proposal for a directive
Recital 5
Recital 5
(5) The obligation on Member States to establish long-term strategies for mobilising investment facilitating the renovation of their national building stock and notify them to the Commission should be removed from Directive 2012/27/EU and added to Directive 2010/31/EU of the European Parliament and of the Council10 where it fits with long term plans for nearly zero energy buildings and the decarbonisation of buildings. __________________ 10 Directive 2010/31/EU of the European Parliament and of the Council of 19 May 2010 on the energy performance of buildings (OJ L 153, 18.6.2010, p. 13.
Amendment 160 #
2016/0376(COD)
Proposal for a directive
Recital 7
Recital 7
(7) Member States are required to achieve a cumulative end-use savings requirement for the entire obligation period, equivalent to 'new' savings of at least 1.5 % of annual energy sales. This requirement could be met by new policy measures that are adopted during the new obligation period from 1 January 2021 to 31 December 2030 or by new individual actions as a result of policy measures adopted during or before the previous period, but in respect of which the individual actions that trigger energy savings are actually introduced during the new period.
Amendment 374 #
2016/0376(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2012/27/EU
Article 7 – paragraph 1 – subparagraph 1 – point b
Article 7 – paragraph 1 – subparagraph 1 – point b
(b) new savings each year from 1 January 2021 to 31 December 2030 of at least 1.5 % of annual energy sales to final customers by volume, averaged over the most recent three-year period prior to 1 January 2019.
Amendment 412 #
2016/0376(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2012/27/EU
Article 7 – paragraph 1 – subparagraph 3
Article 7 – paragraph 1 – subparagraph 3
For the purposes of point (b), and without prejudice to paragraphs 2 and 3, Member States may count only those energy savings that stem from new policy measures introduced after 31 December 2020 or policy measures introduced during the period from 1 January 2014 to 31 December 2020 provided it can be demonstrated that those measures result in individual actions that are undertaken after 31 December 2020 and deliver savings.
Amendment 110 #
2016/0337(CNS)
Proposal for a directive
Recital 4
Recital 4
(4) Considering the need to act swiftly in order to ensure a proper functioning of the internal market by making it, on the one hand, friendlier to trade and investment and, on the other hand, more resilient to tax avoidance schemes, it is necessary to divide the ambitious CCCTB initiative into two separate proposals. At a first stage, ruleadvisable to deal with the two legislative proposals in parallel as long a common corporate tax base should be enacted, before addressing, at a second stage, the issue of consos the application of the CCTB is not delayed or conditioned by finalidzation of the CCCTB.
Amendment 194 #
2016/0337(CNS)
Proposal for a directive
Article 1 – paragraph 1
Article 1 – paragraph 1
1. This Directive establishes a system of a common base for the taxation of certain companies and lays down rules for the calculation of that base. This Directive does not establish minimum corporate tax rates, effective or statutory, and does not lay basis for introduction of minimum corporate tax rates in future.
Amendment 225 #
2016/0337(CNS)
Proposal for a directive
Article 4 – paragraph 1 – subparagraph 1 – point 30 a (new)
Article 4 – paragraph 1 – subparagraph 1 – point 30 a (new)
(30a) 'secrecy or low tax jurisdiction' means any jurisdiction which, from 31 December 2016, meets any of the following criteria: (a) a lack of automatic exchange of information with all signatories of the multilateral competent authority agreement in line with the standards of OECD published on 21 July 2014 entitled 'Standard for Automatic Exchange of Financial Account Information in Tax Matters'; (b) no register of the ultimate beneficial owners of corporations, trusts and equivalent legal structures at least compliant with the minimum standard defined in the Directive (EU) 2015/849 of the European Parliament and of the Council; (c) laws or administrative provisions or practices which grant favourable tax treatment to undertakings irrespective of whether they engage in genuine economic activity or have a significant economic presence in the country in question.
Amendment 65 #
2016/0336(CNS)
Proposal for a directive
Recital 4
Recital 4
(4) Considering the need to act swiftly in order to ensure a proper functioning of the internal market by making it, on the one hand, friendlier to trade and investment and, on the other hand, more resilient to tax avoidance schemes, it is necessaadvisable to ensure simultaneous entry into divide the ambitious CCCTB initiative intoforce of the Directive on a Common Corporate Tax Base and this Directive as long as the application of the CCTB is not delayed or conditioned by finalization of the CCCTB. Because this change of regime is a significant step in the completion of the internal market it needs flexibility in order to be properly executed from its start onwards. Hence, as the internal market encompasses all Member States, the CCCTB should be introduced in all Member States. However, if the Council fails two separate proposals. At a first stage, rules on a common corporate tax base should be agreed, before addressing, at a second stage, the issue of consolidationadopt a unanimous decision on the proposal to establish a CCCTB, it is appropriate to initiate, without delay, the procedure for a Council decision authorising enhanced cooperation in the area of the CCCTB. Such enhanced cooperation should be open at any time to any Member State in accordance with the Treaty on the Functioning of the European Union. In order to allow adjustment of the CCCTB regime to the constant evolving international and European tax agenda and policies, the European Parliament should produce a yearly assessment and invite, where needed, the European Council to adopt the procedure of article 48 paragraph 7 of the Treaty on European Union. Under this scheme, the European Council would authorise the Council of the European Union to vote at qualified majority on any change needed for CCCTB on the basis of a resolution of the European Parliament.
Amendment 89 #
2016/0208(COD)
Proposal for a directive
Recital 21
Recital 21
(21) The specific factor determining the Member State responsible for the monitoring and registration of beneficial ownership information of trusts and similar legal arrangements should be clarified. In order to avoid that, due to differences in the legal systems of Member States, certain trusts are not monitored or registered anywhere in the Union, all trusts and similar legal arrangements should be registered where they are created, administered or operating. In order to ensure the effective monitoring and registration of information on the beneficial ownership of trusts, cooperation and exchange of relevant information among Member States is also necessary.
Amendment 198 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 2 a (new)
Article 1 – paragraph 1 – point 2 a (new)
Directive 2015/849/EU
Article 9 – paragraph 2 – point c a (new)
Article 9 – paragraph 2 – point c a (new)
(2a) in Article 9(2), the following point is added: (ca) the existence of robust systems to ensure that information on beneficial ownership is available to competent authorities including by means of exchange of information with EU Member States.
Amendment 273 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point a a (new)
Article 1 – paragraph 1 – point 9 – point a a (new)
Directive 2015/849/EU
Article 30 – paragraph 5 a (new)
Article 30 – paragraph 5 a (new)
(aa) the following paragraph 5a is inserted: '5a. The information held in the register referred to in paragraph 3 of this Article on any corporate and legal entities other than those referred to in Article 1a(a) of Directive (EC) 2009/101 shall be publicly accessible. The information publicly accessible shall consist of at least the name, the date of birth, the nationality, the country of residence, contact details (without disclosure of a home address), the nature and extent of the beneficial interest held of the beneficial owner as defined in Article 3(6)(b). For the purpose of this paragraph, access to the information on beneficial ownership shall be in accordance with data protection rules and open data standards, and subject to online registration. Member States may introduce a fee to cover the direct administrative costs. The fee should not prevent stakeholders from access to information in the register.'
Amendment 286 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 9 – point c
Article 1 – paragraph 1 – point 9 – point c
Directive 2015/849/EU
Article 30 – paragraph 9 – subparagraph 1
Article 30 – paragraph 9 – subparagraph 1
In exceptional circumstances to be laid down in national law, where the access referred to in point (b) and point (c) of paragraph 5 would expose the beneficial owner to the risk of fraud, kidnapping, blackmail, violence or intimidation, or where the beneficial owner is a minor or otherwise incapable, Member States may provide for an exemption from such access to all or part of the information on the beneficial ownership on a case-by-case basis. When an exemption is granted, this has to be clearly indicated in the register. Exemptions shall be reassessed at regular intervals to avoid abuse. Any legal or natural person may ask for the exemption to be examined by a court.
Amendment 325 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point d
Article 1 – paragraph 1 – point 10 – point d
Directive 2015/849/EU
Article 31– paragraph 4 a – subparagraph 2 a (new)
Article 31– paragraph 4 a – subparagraph 2 a (new)
For the purpose of this paragraph, access to the information on beneficial ownership shall be in accordance with data protection rules and open data standards, and subject to online registration. Member States may introduce a fair and non-discriminatory fee to cover the direct administrative costs. The fee should not prevent stakeholders from access to information in the register.
Amendment 338 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point e
Article 1 – paragraph 1 – point 10 – point e
Directive 2015/849/EU
Article 31 – paragraph 7 a – subparagraph 1
Article 31 – paragraph 7 a – subparagraph 1
In exceptional circumstances laid down in national law, where the access referred to in paragraphs 4 and 4a would expose the beneficial owner to the risk of fraud, kidnapping, blackmail, violence or intimidation, or where the beneficial owner is a minor or otherwise incapable, Member States may provide for an exemption from such access to all or part of the information on the beneficial ownership on a case-by- case basis. When an exemption is granted, this has to be clearly indicated in the register. Exemptions shall be reassessed at regular intervals to avoid abuse. Any legal or natural person may ask for the exemption to be examined by a court.
Amendment 367 #
2016/0208(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 12 a (new)
Article 1 – paragraph 1 – point 12 a (new)
Directive 2015/849/EU
Article 32 b (new)
Article 32 b (new)
Amendment 11 #
2016/0185(COD)
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3a) Regulation (EU) 2015/2120 provides for the possibility for an operator to apply a ‘fair use policy’ in accordance with the relevant implementing act. An adequate fair use policy has a crucial role to play in order to guarantee a financially sustainable model of the wholesale and retail roaming markets. A generous fair use policy for consumers needs to be accompanied by wholesale caps which reflect the real costs of providing roaming services and that will enable as many operators as possible to provide ‘roam- like-at-home’ offers without incurring huge cost increases, damaging competitive domestic markets or increasing prices for domestic customers.
Amendment 41 #
2016/0185(COD)
Proposal for a regulation
Recital 18
Recital 18
(18) Therefore, the existing maximum wholesale roaming charges for voice calls, SMS and data services should be lowered to levels much closer to the actual cost of those service.
Amendment 65 #
2016/0185(COD)
Proposal for a regulation
Article 1 – point 2
Article 1 – point 2
Regulation (EU) No 531/2012
Article 7 – paragraph 1
Article 7 – paragraph 1
1. TWith effect from 15 June 2017, the average wholesale charge that the visited network operator may levy on the roaming provider for the provision of a regulated roaming call originating on that visited network, inclusive, among others, of origination, transit and termination costs, shall not exceed a safeguard limit of EUR 0.0435 per minute as. The safeguard limit shall, ofn 15 June 2017 and shall, without prejudice to Article 19,ly 2018, decrease to EUR 0.03 per minute, on 1 July 2019, to EUR 0.02 per minute, and, without prejudice to Article 19, on 1 July 2020, to EUR 0.014 per minute. It shall remain at EUR 0.0414 per minute until 30 June 2022
Amendment 87 #
2016/0185(COD)
Proposal for a regulation
Article 1 – point 4
Article 1 – point 4
Regulation (EU) No 531/2012
Article 12 – paragraph 1
Article 12 – paragraph 1
1. With effect from 15 June 2017, the average wholesale charge that the visited network operator may levy on the roaming provider for the provision of regulated data roaming services by means of that visited network shall not exceed a safeguard limit of EUR 0.0085 per me3 per gigabyte of data transmitted. The safeguard limit shall, on 1 July 2018, decrease to EUR 2 per gigabyte of data transmitted, and, on July 2019 to EUR 1 per gigabyte of data transmitted, and shall, without prejudice to Article 19, remain at EUR 0.00851 per megigabyte of data transmitted until 30 June 2022.
Amendment 57 #
2016/0011(CNS)
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) To ensure consistency with regards to treatment of permanent establishments, it is essential that Member States apply in both relevant legislation and bilateral tax treaties a common definition of permanent establishments according to the Article 5 of the OECD Model Convention on Tax and Income.
Amendment 59 #
2016/0011(CNS)
Proposal for a directive
Recital 4 b (new)
Recital 4 b (new)
(4b) To avoid inconsistent allocation of profits to permanent establishments, Member States should follow rules for profits attributable to permanent establishment as part of the Article 7 of the OECD Model Convention on Tax and Income and align applicable legislation and bilateral treaties to those rules, when such rules are reviewed.
Amendment 71 #
2016/0011(CNS)
Proposal for a directive
Recital 6 a (new)
Recital 6 a (new)
(6a) In the event of funding of long term infrastructure projects that are in public interest by debt to third party, where debt is higher than threshold for exemption set up by this Directive. Member States may grant exemption to third party loans funding public infrastructure projects under certain conditions, as application of proposed provisions on interest limitation in such cases would be counterproductive.
Amendment 76 #
2016/0011(CNS)
Proposal for a directive
Recital 7 a (new)
Recital 7 a (new)
(7a) Exit tax should not be charged where the transferred assets are tangible assets generating active income. Transfers of such assets are an inevitable part of effective allocation of resources by an enterprise and are not primarily intended for tax optimization and tax avoidance, and should therefore be exempt from these provisions.
Amendment 83 #
2016/0011(CNS)
Proposal for a directive
Recital 8
Recital 8
(8) Given the inherent difficulties in giving credit relief for taxes paid abroad, States tend to increasingly exempt from taxation foreign income in the State of residence. The unintended negative effect of this approach is however that it encourages situations whereby untaxed or low-taxed income enters the internal market and then, circulates – in many cases, untaxed - within the Union, making use of available instruments within the Union law. Switch- over clauses are commonly used against such practices. It is therefore necessary to provide for a switch-over clause which is targeted against some types of foreign income not arising from active business, for example, profit distributions, proceeds from the disposal of shares and permanent establishment profits which are tax exempt in the Union and originate in third countries. This income should be taxable in the Union, if it has been taxed below a certain level in the third country. Considering that the switch-over clause does not require control over the low-taxed entity and therefore access to statutory accounts of the entity may be unavailable, the computation of the effective tax rate can be a very complicated exercise. Member States should therefore use the statutory tax rate when applying the switch-over clause. Member States that apply the switch-over clause should give a credit for the tax paid abroad, in order to prevent double taxation.
Amendment 93 #
2016/0011(CNS)
Proposal for a directive
Recital 11
Recital 11
(11) Hybrid mismatches are the consequence of differences in the legal characterisation of payments (financial instruments) or entities and those differences surface in the interaction between the legal systems of two jurisdictions. The effect of such mismatches is often a double deduction (i.e. deduction in both states) or a deduction of the income in one state without inclusion in the tax base of the other. To prevent such an outcome, it is necessary to lay down rules whereby one of the two jurisdictions in a mismatch should give a legal characterisation to the hybrid instrument or entity and the other jurisdiction should accept it. Although Member States have agreed guidance, in the framework of the Group of the Code of Conduct on Business Taxation, on the tax treatment of hybrid entities4 and hybrid permanent establishments5 within the Union as well as on the tax treatment of hybrid entities in relations with third countries, it is still necessary to enact binding rules. Finally, it is necessary to limit the scope of these rules to hybrid mismatches between Member States. Hybrid mismatches between Member States and third countries still need to be further examinedWhere such a mismatch arises between a Member State and a third country, proper taxation of such operation must be safeguarded by the Member State. __________________ 4 Code of Conduct (Business Taxation) – Report to Council, 16553/14, FISC 225, 11.12.2014. 5 Code of Conduct (Business Taxation) – Report to Council, 9620/15, FISC 60, 11.6.2015.
Amendment 114 #
2016/0011(CNS)
Proposal for a directive
Article 2 – paragraph 1 – point 7 a (new)
Article 2 – paragraph 1 – point 7 a (new)
(7a) 'hybrid mismatch' means a situation between a taxpayer in one Member State and an associated enterprise, as defined under the applicable corporate tax system, in another Member State or a third country where the following outcome is attributable to differences in the legal characterisation of a financial instrument or entity: (a) a deduction of the same payment, expenses or losses occurs both in the jurisdiction Member State in which the payment has its source, the expenses are incurred or the losses are suffered and in the other jurisdiction Member State ('double deduction'); or (b) there is a deduction of a payment in the jurisdiction Member State in which the payment has its source without a corresponding inclusion of the same payment in the other jurisdiction Member State ('deduction without inclusion').
Amendment 133 #
2016/0011(CNS)
Proposal for a directive
Article 4 – paragraph 3 a (new)
Article 4 – paragraph 3 a (new)
3a. Member States may exclude from the scope of paragraph 2 excessive borrowing costs incurred on third party loans used to fund a public infrastructure project, that last at least 10 years and are considered to be in the general public interest by a Member State.
Amendment 149 #
2016/0011(CNS)
Proposal for a directive
Article 4 a (new)
Article 4 a (new)
Amendment 151 #
2016/0011(CNS)
Proposal for a directive
Article 4 b (new)
Article 4 b (new)
Amendment 153 #
2016/0011(CNS)
Proposal for a directive
Article 5 – paragraph 1 – introductory part
Article 5 – paragraph 1 – introductory part
1. A taxpayer shall be subject to tax at an amount equal to the market value of the transferred assets, at the time of exit of assets, less their value for tax purposes, in any of the following circumstances:
Amendment 156 #
2016/0011(CNS)
Proposal for a directive
Article 5 – paragraph 1 – point a
Article 5 – paragraph 1 – point a
(a) a taxpayer transfers assets from its head office to its permanent establishment in another Member State or in a third country in so far as the Member State of the head office no longer has the right to tax the transferred assets due to the transfer;
Amendment 157 #
2016/0011(CNS)
Proposal for a directive
Article 5 – paragraph 1 – point b
Article 5 – paragraph 1 – point b
(b) a taxpayer transfers assets from its permanent establishment in a Member State to its head office or another permanent establishment in another Member State or in a third country in so far as the Member State of the permanent establishment no longer has the right to tax the transferred assets due to the transfer;
Amendment 159 #
2016/0011(CNS)
Proposal for a directive
Article 5 – paragraph 1 – point d
Article 5 – paragraph 1 – point d
(d) a taxpayer transfers its permanent establishment out of a Member Stateto another Member State or to a third country in so far as the Member State of the permanent establishment no longer has the right to tax the transferred assets due to the transfer.
Amendment 171 #
2016/0011(CNS)
Proposal for a directive
Article 5 – paragraph 7
Article 5 – paragraph 7
7. This article shall not apply to asset transfers of a temporary nature where the assets are intended to revert to the Member State of the transferor, nor to transfers of tangible assets transferred in order to generate income from active business.
Amendment 182 #
2016/0011(CNS)
Proposal for a directive
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Member States shall not exempt a taxpayer from tax on foreign income that does not arise from active business, which the taxpayer received as a profit distribution from an entity in a third country or as proceeds from the disposal of shares held in an entity in a third country or as income from a permanent establishment situated in a third country where the entity or the permanent establishment is subject, in the entity’s country of residence or the country in which the permanent establishment is situated, to a tax on profits at a statutory corporate tax rate lower than 40 percent of the statutory tax rate that would have been charged under the applicable corporate tax system in the Member State of the taxpayer. In those circumstances, the taxpayer shall be subject to tax on the foreign income with a deduction of the tax paid in the third country from its tax liability in its state of residence for tax purposes. The deduction shall not exceed the amount of tax, as computed before the deduction, which is attributable to the income that may be taxed.
Amendment 225 #
2016/0011(CNS)
Proposal for a directive
Article 10 a (new)
Article 10 a (new)
Article 10a Hybrid mismatches related to third countries 1. To the extent that a hybrid mismatch between a Member State and a third country results in a double deduction, the Member State shall deny the deduction of such a payment, unless the third country has already done so. 2. To the extent that a hybrid mismatch between a Member State and a third country results in a deduction without inclusion, the Member State shall deny the deduction or non-inclusion of such a payment, as the case may be, unless the third country has already acted accordingly.
Amendment 64 #
2015/2344(INI)
Motion for a resolution
Recital D
Recital D
D. whereas keeping the Balance of Payments Facility for non-euroArticle 123 and 125 TFEU were put in place to avoid and prevent moral hazard and ensure fiscal sustainability and prudency of euro area Member States; while depriving euro area Member States of this instrument as a consequence of the no-bail-out clause reflects one of the original flaws of EMUereas the European Stability Mechanism (ESM) constitutes the crisis resolution mechanism for countries of the euro area and has the function of a shock absorbent; whereas non-euro area Member States are not covered by the ESM but by the Balance of Payment Facility which supports non- euro countries in difficulties or when seriously threatened with difficulties as regards its balance of payments, as laid down in Article 143 TFEU, as non-euro countries experience higher risks due to exchange rate fluctuations;
Amendment 69 #
2015/2344(INI)
Motion for a resolution
Recital E
Recital E
E. whereas it became apparent during the sovereign debt crisis that the European Treaties do not provide the euro area with the instruments to deal effectively with shocks; countries which did not comply with the fiscal rules of the Stability and Growth Pact (SGP), which did not budget responsibly but triggered large budget deficits through high spending and had postponed relevant reforms of their labour markets and public administration, were more vulnerable and could not effectively handle economic shocks; whereas it became apparent that the lack of responsibility of one Member of the euro area is a risk for the euro area as a whole, meaning that one country not adhering to the rules can affect the economy of all Member States of the Union; whereas the currency union is only as strong as its Members, which requires all participating countries to respect economic and financial rules at national level and at the same time to strengthen their economies in their own interest and in that of the whole euro area, thus guaranteeing the well-being of all citizens in the long-term, as the consequences of irresponsible policies at national level have to be borne by the Union as a whole;
Amendment 88 #
2015/2344(INI)
Motion for a resolution
Recital G
Recital G
G. whereas substantial progress has been achieved in addressing the flaws ofimproving and strengthening the governance of the EMU through legislation such as the Six-Pack and the Two-Pack regulations, as well as through the introduction of the European Semester and the creation of new instruments such as the ESM, the Treaty on Stability, Coordination and Governance (TSCG) including the Fiscal Compact and the Euro-Plus Pact, thereby making the EMU more resilient against possible shocks in the future, however, these instruments cannot fulfil their function if they are not enforced;
Amendment 112 #
2015/2344(INI)
Motion for a resolution
Recital I
Recital I
I. whereas Member States that failed to adhere to the SGP and enforce fiscal rules at national level have lost credibility of financial markets and herewith the possibility to finance themselves and a great deal of trust has been lost in the process, both between Member States and on the part of citizens and the markets in the EU institutions and the Union as a whole;
Amendment 151 #
2015/2344(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Considers, against this background, that shortcomings have existed in the Economic and Monetary Union (EMU) since its inception undtronger enforcement of existing fiscal rules such as the SGP, the Six-Pack and the Two-Pack is necessary, and not the transfer of more financial means; whereas the SGP is a set of rules designed to ensure that EU Member States pursue sound public finances and coordinate their fiscal policies, however, the Maastricht Treaty with the attribution of monetary policy to the European level, while budgetary policy remains within the competencies of the Member States and is only framed by provisions on light coordination of national policiesmain shortcoming is the non-implementation of existing rules as well as the underestimation of macroeconomic imbalances, which were not addressed in a sufficient and timely manner; whereas governments of euro countries are required by European economic governance rules to submit their draft budgetary plans for the following year to the European Commission by October 15 each year to ensure the coordination of fiscal and economic policies among euro countries and that EU economic governance rules are respected, but the implementation rate of the guidelines put forward by the European Commission subsequently has to be improved;
Amendment 167 #
2015/2344(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses that the introduction of the euro as a common currency has eliminated tried and tested policy options for counterbalancing asymmetric shocks such as exchange rate fluctuafluctuation risks, exchange costs as well as risks and lack of transparency in cross- border transactions; reiteratstresses that the relinquishing of autonomy over monetary policy therefore requires alternative adjustment mechbenefits of the euro are interconnected, as economic stability creates trust and credibility, reduces uncertainty for businesses and encourages companismes to cope with asymmetric macroeconomic shocks in order to make the euro zone an optimal currency area able, inter alia, to implement a proper policy mixinvest, creates more employment and better-quality jobs for citizens and allows for long-term planning of governments; stresses that the need for convergence and competitiveness are conditions for the functionality of a common currency area, since a country cannot restore its competitiveness in a sustainable manner by simply devaluating its currency;
Amendment 179 #
2015/2344(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Considers that EMU exposed its vulnerability in the context of the global financial and economic crisis when unsustainable imbalancthe causes of the sovereign debt crisis were mainly unsustainable levels of public and private debt, lack of competitiveness and proper regulation in the banking and financial sectors; underlines, triggered by capital flows fhat high levels of debt limited the space of manoeuvre for eurom core euro area nations to the periphery and a rising public spending ratio in some Member States, aggravated and led to a sovereuntries and led to an increase in financing costs, which impeded the repayment of debt at maturity; stresses that high costs of servicing debt due to high interest rates were too big of a burden given the overall debt level of some euro countries; whereas too hignh debt crisis, in which government borrowing costs dramatically increased in some Member States, jeopardising, in the absence of a proper fiscal backstop, the merelevels entail high interest rates which have to be served instead of being able to invest in growth enhancing measures, social spending, healthcare and education; whereas the causes of the crises differed in existence of thet among euro area Member States;
Amendment 208 #
2015/2344(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Points out that the crisis has proved that a common monetary policy without a common fiscal policy cannot address asymmetric shocks to the euro area; reiterates that mere coordination of national fiscal policies without credible enforcement mechanisms has not prevented an investment gap, has proved insufficient to trigger growth-enhancing, sustCommon monetary policy can only play a limited role in reaction to various shocks that the EU and the eurozone may face. It is therefore important to increase resilience of Member States’ economies via implementing structural reforms on one hand, and to conduct such a fiscal policy on national level that allows governments to react to such shocks on the other. The instruments avainlable and socially balanced structural reforms and has not enhanced the national capacity to absorb economic shocks;t the European level including the ESM should only play a complementary role.
Amendment 292 #
2015/2344(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Takes the view that incentives for sound fiscal policymaking and for addressing structural weaknesses at national level, taking into account the aggregate euro area fiscal stance, are core elements for the functioning of the euro area; considers that while manoeuvring space of domestic fiscal policy must play prominent role, a fiscal capacity should, moreover, address specific concerns for the euro area in the case of absorbing shocks;. Member States with close to balanced budgets at the moment of adverse economic shock have significant space available for use of automatic stabilizers as well as for eventual discretional fiscal support of their economy within existing European rules.
Amendment 333 #
2015/2344(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Points outAcknowledges that effective stabilisation of large euro area Member States or a group of closely economically intertwined countries may requires sufficient resources;. These resources can be made available via mix of domestic fiscal policy, existing instruments (including the ESM) and potentially newly considered tools such as a budgetary capacity for the eurozone.
Amendment 368 #
2015/2344(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Argues in consequence that three pillars of a fiscal capacity should be distinguished, wherein action should be undertaken in the framework of a common toolbox to address the different functions, i.e. incentivising convergence and sustainable structural reforms, absorbing asymmetric shocks, and absorbing symmetric shocks; takes note of the various proposals regarding designs put forward on this matter by politicians and academia; repeats that full compliance with existing fiscal rules grants significant space for fiscal reaction to adverse developments within national budgets.
Amendment 462 #
2015/2344(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Believes that compliance with a convergence code should be the condition for access to funding from the ESM/EMF; reiterates its call on the Commission to put forward a legislative proposal to this end;Implementation of structural reforms, particularly those highlighted in country specific recommendations, should be the condition for access to funding from the ESM/EMF.
Amendment 480 #
2015/2344(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Stresses that significant progress in convergence and sustainable structural reforms is needed in order to reconcile fiscal consolidation, growth, jobs, productivity, competitiveness and the European social model so as to effectively prevent asymmetric shock; considers that financial support from the European level for the implementation of agreed structural reforms in the Member States, while keeping the responsibility for implementation at the national level, is therefore indispensable;could be considered taking into careful consideration costs and benefits of such approach.
Amendment 498 #
2015/2344(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
25. Reiterates its call for the adoption of a ‘convergence code’, as a legal act resulting from the ordinary legislative procedure, toCalls on the Member States to respect the country specific recommendations and implement structural reforms based on these recommendations to better streamline the existing coordination of economic policies into a more effective convergence of economic policies within the European Semester;
Amendment 506 #
2015/2344(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 587 #
2015/2344(INI)
Motion for a resolution
Paragraph 27 a (new)
Paragraph 27 a (new)
27a. New paragraph after Pillar 2: Absorption of asymmetric shocks: Risk of asymmetric shock is declining with growing convergence of the Member States' economies. Economic policies of Member States should analyse risk of domestic asymmetric shock and adjust its fiscal policy to be ready to act appropriately in the case of such shocks. The ESM can serve as the last resort. In case of external asymmetric shock, it is more difficult to rely on domestic fiscal capacity. The possibility to introduce a support mechanism suitable for such a situation should be considered.
Amendment 591 #
2015/2344(INI)
Motion for a resolution
Subheading 5
Subheading 5
Pillar 2: Absorption of external and internal asymmetric shocks
Amendment 631 #
2015/2344(INI)
Motion for a resolution
Paragraph 30
Paragraph 30
30. Points out that the Rainy Day Fund must be aimed at restoring the stability of the EU and the eurozone. It should be funded by all the Member States on the basis of a cyclically sensitive economic indicator and used for payments to all Member States suffering from economic downturns;. The fund must play anti- cyclical role, and the position of member states vis-à-vis the fund must be neutral in medium term.
Amendment 650 #
2015/2344(INI)
Motion for a resolution
Paragraph 31
Paragraph 31
31. Acknowledges that the model of a European Unemployment Benefit Scheme would foster convergence of labour markets in the medium term; it must be consistent with the key role of Member States in social policy and must not provide base for permanent transfers between Member States.
Amendment 686 #
2015/2344(INI)
Motion for a resolution
Paragraph 33
Paragraph 33
33. Warns that future symmetric shocks could destabilise the euro area as a whole since the currency area is not endowed with the instruments to cope with another crisis of the extent of the previous one, the EMF can be considered as a tool in cases where monetary policy and fiscal room in a national budget are not sufficient to address the problem; is convinced that the right instrument to deal with symmetric shocks depends on the nature of the shock; recalls that the EMF should be used as an appropriate financial resource;
Amendment 743 #
2015/2344(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. Points out that the fiscal capacity has to be of significant size in order to be able to addressTo cope with economic issues in the EU and in these euro-area-wide shocks and to finance its functions; insists that in order to provide sufficient financial resources, the euro area fiscal capacity, including the EMF, should be able to increase the issuance of equities via a rise in guarantees; considers that these common issuzone, balanced combination of available measure should be used. Monetary policy, domestic fiscal space, ESM fund and eventually newly considered tools should be used adequities should have the highest credit rate;ately to the risks faced by the EU and eurozone economies.
Amendment 787 #
2015/2344(INI)
Motion for a resolution
Paragraph 41
Paragraph 41
Amendment 807 #
2015/2344(INI)
Motion for a resolution
Paragraph 42
Paragraph 42
42. Considers that those non-euro countries that do not have an opt-out will eventually become part of the EMU and therefore may join the governance framework on a voluntary basis with a special statuEmphasizes that the seven EU Member States that do not have an opt-out or opt-in from joining the common currency, but are bound to join the euro area by their Treaties of Accession to the European Union, should have full rights of participating in the governance structure of any fiscal capacity, be able to contribute and benefit financially, receive technical and financial assistance in transposing needed structural reforms in their countries, thereby making their economies more competitive especially vis-à-vis current euro area Member States, increasing resilience, thus ensuring the sound transition into the euro area and avoid economic and financial crises in the future by fostering a stronger euro area with stronger Member States;
Amendment 7 #
2015/2323(INI)
Motion for a resolution
Paragraph 2
Paragraph 2
2. Highlights that the ongoing energy transition is resulting in a move away from a centralised, inflexible, fossil fuel-based energy systemless flexible energy system based on centralized generation, to one which is more decentraliszed, and flexible andwith an increased share of renewables- based energy;
Amendment 27 #
2015/2323(INI)
Motion for a resolution
Paragraph 3 – point a
Paragraph 3 – point a
a. provide citizens with stable, affordable, sustainable, fair and transparent energy, energy-efficient products and housingefficient, and sustainably produced energy;
Amendment 46 #
2015/2323(INI)
Motion for a resolution
Paragraph 3 – point c
Paragraph 3 – point c
c. contribute to eradicateing the causes of energy poverty;
Amendment 50 #
2015/2323(INI)
Motion for a resolution
Paragraph 3 – point d
Paragraph 3 – point d
d. protect consumers from abusive, uncompetitive and unfair practices by suppliers and enable them to fully exercise their rights;
Amendment 73 #
2015/2323(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Believes that, as a general principle, the energy transition should result in a more decentralised and democraticiverse, sustainable and inclusive energy system which benefits society as a whole, increases energy security and access to affordable energy for consumers; supports further involvement of citizens and local communities, and initiatives that empowers them to own or share in the ownership of the production, distribution and storage of energy, while at the same time protecting the most vulnerable and ensuring stability of the networks;
Amendment 77 #
2015/2323(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Believes that, as a general principle, the energy transition should result in a more decentralised and democratic energy system which benefits society as a whole, increases the involvement of citizens and local communities, and empowers them to own or share in the ownership of the production, distribution and storage of energy, while at the same time protecting the most vulnerable and ensuring the stability of the networks;
Amendment 90 #
2015/2323(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Considers that the aim of the Third Energy Package to provide a truly competitive and consumer-friendly retail energy market has not yet been realised, as evidencedindicated in some Member States by low levels of consumer switching and satisfaction across the EU, persistent high levels of market concentration, and the failure to reflect falling wholesale costs in retail prices; recognises that low level of switching can have many causes and can reflect both well-functioning and mal- functioning market structures, and therefore should not stand alone as an indicator;
Amendment 97 #
2015/2323(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Considers that the aim of the Third Energy Package to provide a truly competitive and consumer-friendly retail energy market has not yet been realised, as evidenced by low levels of consumer switching and satisfaction across the EUin several Member States, persistent high levels of market concentration, and the failure to reflect falling wholesale costs in retail prices;
Amendment 108 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – introductory part
Paragraph 6 – introductory part
6. Calls, therefore, on the Commission and the Member States to rigorously ensure full implementation of the Third Energy Package, and calls for its revia new Energy Market Desiogn to take account of the following recommendations:
Amendment 110 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point a
Paragraph 6 – point a
a. Recommends improving the transparency and clarity of bills, which should include information on the final price, with an explanation of the different taxes, levies and tariffs, together with information on the different energy sources and complaint handling, clear indication of contact points, and information on switching and energy efficiency measures; insists that clear language must be used, with technical terms either avoided or clearly explained; requests the Commission to identify minimum standards and requests the Commission to identify minimum information requirements to ensure simplicity and interpretability in this respect;
Amendment 135 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point b
Paragraph 6 – point b
Amendment 141 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point b
Paragraph 6 – point b
b. Recommends that consideration be given to requiring energy bills to include comparisons of offers in order to enable all consumers, even those without internet access or skills, to see whether they could save money by switching; believes that peer-based comparisons should also be included in bills topeer-based comparisons of energy offers should be made publicly available to enable consumers to make informed choices and help reduce energy use;
Amendment 149 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point c
Paragraph 6 – point c
c. Recommends developing rulcommon guidelines for price comparison tools to ensure that consumers can access independent, up-to-date and understandable comparison tools; believes Member States should develop accreditation schemes covering all price comparison tools, in line with CEER guidelines in line with the existing and ongoing work of CEER;
Amendment 164 #
2015/2323(INI)
d. Recommends that there should be a limited range of standardised tariffs,Considers that information relating to different tariffs must be transparent, clear and accessible in order to facilitate price comparison between different suppliers and tariffs and avoid a confusing array of different tariffs for the same productand maintain retail competition between suppliers;
Amendment 173 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point e
Paragraph 6 – point e
e. Recommends that consideration be given to requiring energy suppliers to automatically place customumers be empowered to easily access information relating to their consumption patterns, along with recommendations from the suppliers on the most suitable and advantageous tariff, based on historic consumption patterns available to them; notes, given that switching rates are low throughout Europe, that many households, especially the most vulnerable, are not engaged in the energy market and are stuck on outdated expensivnot on the most appropriate tariffs;
Amendment 191 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 – point f
Paragraph 6 – point f
f. Recommends measures to enable retail prices to better reflect wholesale prices and thus reverse the trend of an increasing proportion of fixed elements in energy bills, in particular network charges, taxes and levies, which are often regressive elements; recommends that such elements be applied progressively or, where, possible funded from alternative sources;
Amendment 200 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Calls for the creation of new platforms to serve as independent Price Comparison Tools (PCTs) to provide greater clarity to consumers on billing; recommends that such independent platforms should provide consumers with information on the different taxes, levies and add-ons contained in energy tariffs in a comparable way to empower the consumer to easily seek more suitable offers; suggests that this role could be assumed by existing bodies such as national energy departments, regulators etc., or by specifically created entities;
Amendment 201 #
2015/2323(INI)
Motion for a resolution
Paragraph 6 b (new)
Paragraph 6 b (new)
6b. Considers that the maximum benefit for consumers will be achieved through the optimisation of the energy system as a whole; asks therefore that careful analyses be undertaken in the market design process to ensure that delivering new benefits to specific consumer groups does not bring negative impacts to energy consumers in general;
Amendment 230 #
2015/2323(INI)
Motion for a resolution
Subheading 2
Subheading 2
Amendment 237 #
2015/2323(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Believes that local authorities, communities and individuals shcould form thcontribute backbone oftively and substantially to the energy transition and should be awhen cost- effectively be supported to help them become energy producers and suppliersy energy on an equal footing with other players;
Amendment 242 #
2015/2323(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Believes that local authorities, communities and individuals should form the backbone ofcan contribute substantially to the energy transition and should be actively supported to help them become energy producers and suppliers on an equal footing with other players;
Amendment 268 #
2015/2323(INI)
Motion for a resolution
Paragraph 11
Paragraph 11
11. Considers that access to capital, high upfront investment costs and long repayment periods represent barriers to the take-up of self- generation and energy efficiency measures; calls, therefore, for the development of new business models and innovativeto support, where appropriate, the use of financial instruments to incentivise self-generation, consumption and energy efficiency for all consumers; suggests that this should become a priority for the EIB, EFSI and the Structural Funds;
Amendment 288 #
2015/2323(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Calls for stable and sufficient remuneration schemes to guarantee investor certainty and increase the take-up of small-scale renewable energyrenewable energy deployment, while at the same time ensuring the market is not distorted; believes that grid tariffs and other fees should be non-discriminatory and should fairly reflect the impact of the consumer on the grid, while guaranteeing sufficient funding for the maintenance and development of distribution grids; regrets the recent abrupt changes to support schemes in certain Member States, as well as the introduction of unfair and punitive taxes or fees which are detrimental tohinder the continued expansion of self-generation;
Amendment 312 #
2015/2323(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Highlights the need for a favourablestable and fair framework for tenants and those living in multi-dwelling buildings, to enable them to also benefit from co-ownership, self- generation and energy efficiency measures;
Amendment 331 #
2015/2323(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Believes that consumers should have easy and timely access to their consumption data in both volume and monetary terms, to help them make informed decisions; believes that where smart meters are rolled out there should be a solid legal framework to ensure an end to unjustified back-billing and a rollout that is efficient and affordable for all consumers and is free of charge forincluding energy-poor consumers; insists that efficiency savings from smart meters should be shared on a fair basis between grid operators and users;
Amendment 343 #
2015/2323(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Emphasises that the development of smart technologies must not leave the most vulnerable or less engaged consumbe used in a an efficient and cost-effective way where investments must create long-tersm behind, nor see bills risenefits for consumers;
Amendment 362 #
2015/2323(INI)
Motion for a resolution
Paragraph 20
Paragraph 20
20. Believes that the processing and storage of citizens’ energy-related data should be managed by neutral entities and should comply with the existing EU legislation, which lays down that the ownership of all data lies with the citizendata subject will remain in control of their personal data and that data should only be provided to third parties by explicit consent; considers that, in addition, citizens should be able to exercise their rights to correct and erase informationpersonal data;
Amendment 381 #
2015/2323(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Calls for the development of a strong EU framework to fight energy poverty, including a broad, common but non- quantitative definition of energy poverty, focusing on the idea that access to affordable energy is a basic social rightcoordination at EU level to fight energy poverty through the sharing of best practices between Member States; urges the Commission to prioritise measures to alleviate energy poverty in upcoming legislative proposals and to present a dedicated action plan by mid- 2017;
Amendment 401 #
2015/2323(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Considers that the Energy Union governance framework should include objectives and reporting from Member States for energy poverty, and that key indicators for energy poverty should be developed;
Amendment 412 #
2015/2323(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Considers that energy efficiency measures are central to any strategy to address energy poverty and are much cheaper in the long run than tackling the issue exclusively throughcomplementary to social security policies; calls for action to ensure that energy- efficient renovation of existing buildings gives priority toalso targets energy-poor citizens in the context of the review of the EPBD; suggests that an objective of reducing the number of energy- inefficient homes by 2030 should be considered, with a focus on rental properties and social housing;
Amendment 421 #
2015/2323(INI)
Motion for a resolution
Paragraph 25
Paragraph 25
Amendment 431 #
2015/2323(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Calls for EU funds for energy efficiency and support for self-generation to target energy-poor, low-income consumers and address the issue of split incentives between tenants and owners;
Amendment 434 #
2015/2323(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Calls for EU funds for energy efficiency and support for self-generation to also target energy-poor, low-income consumers and address the issue of split incentives between tenants and owners;
Amendment 438 #
2015/2323(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
Amendment 447 #
2015/2323(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Believes that well-targeted social tariffs are vital for low-income, vulnerable citizens, and should therefore be promoted; considers that any such social tariffs should be fully transparent;
Amendment 16 #
2015/2232(INI)
Motion for a resolution
Recital A
Recital A
A. whereas increased energy efficiency and energy saving are key factors for environmental and climate protection and supply security; as well as to job creation, growth, productivity and competitiveness; whereas the Energy Efficiency Directive provides an important basis in this connection;
Amendment 26 #
2015/2232(INI)
Motion for a resolution
Recital B
Recital B
B. whereas the EU is making good progress towards its environmentalclimate and energy targets for 2020 (reducing CO2 emissions, increasing the share of renewable energy sources, energy efficiency) and is playing a leading role at world level;
Amendment 43 #
2015/2232(INI)
Motion for a resolution
Subheading 1
Subheading 1
The Energy Efficiency Directive only inadequately implemented – savings targets achieved nonetheless: an important framework for energy savings - potential for further optimization through better enforcement and implementation
Amendment 56 #
2015/2232(INI)
Motion for a resolution
Paragraph 1
Paragraph 1
1. Notes that up to now neither the 2012 Energy Efficiency Directive nor the 2010 Buildings Directive have been adequately implemented by the Member States; considers, therefore, that one reason why the energy efficiency targets are being achieved lies in the fact that citizens and undertakings themselves have an interest in low energy consualls for a continued strong effort for energy efficiency in order to foster low energy consumption and cut energy costs , supporting competion and cutting coststiveness and sustainability;
Amendment 91 #
2015/2232(INI)
Motion for a resolution
Paragraph 4
Paragraph 4
4. Stresses that some key elements of the Energy Efficiency Directive (smart meters, cogeneration, renovation plans) need more time in order to give administrations and undertakings an opportunity to launch projects and innovationscarry great potential and should be introduced with the necessary perspectives ensuring investor confidence and regulatory stability;
Amendment 112 #
2015/2232(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. Points out that the Energy Efficiency Directive became an Energy Saving Directive as a result of political decisions; calls for the focus of the directive to be turned more towards energy efficiency considerationshould focus on both energy savings and energy effectiveness;
Amendment 122 #
2015/2232(INI)
Motion for a resolution
Subheading 2
Subheading 2
Amendment 131 #
2015/2232(INI)
Motion for a resolution
Paragraph 6
Paragraph 6
6. Criticises the 2 000 or soStresses that energy reporting obligations imposed on businesses, consumers and public authorities should be low in administrative burdens; regrets that it is ultimately electricity consumers who bear the consequences of an overly complex reporting system;
Amendment 142 #
2015/2232(INI)
Motion for a resolution
Paragraph 7
Paragraph 7
7. Points out that energy saving rules and rules on increased use of renewable energy sources have a direct and indirect impact on the carbon footprint and the ETS system (certificate prices); notes that low ETS certificate prices reduce the incentives for investment in energy saving;
Amendment 162 #
2015/2232(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses that some national legislation (exit from coal, payment schemes for renewable energy, capacity markets) can restricts the scope for European solutions that provide the best possible results in terms of cost and supply and cancels out the price advantages obtained through energy saving; calls for increased possibilities for binding coordination by the Commission-effectiveness; calls for increased possibilities for binding coordination by the Commission to foster increased convergence between Member States within the European framework;
Amendment 186 #
2015/2232(INI)
Motion for a resolution
Paragraph 10
Paragraph 10
10. Is concerned at the repercussions of general saving rules on the targets for expanding the use of renewable energy sources; tTakes the view that improved cross- regional distribution and storage systems provide good opportunities for the further expansion of optimal locations for wind, hydro and solar power to supply the whole of Europe; expects that this will have a dampening effect on energy prices;
Amendment 229 #
2015/2232(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Welcomes the positive impact that certification schemes or saving obligations (Article 7) are having in many Member States; considers the flexibility of the rules to be a major factor in guaranteeing their acceptance; asks that the calculation of certification schemes and energy-saving measures should not be hampered by overly restrictive interpretations and time limits;
Amendment 234 #
2015/2232(INI)
Motion for a resolution
Paragraph 14
Paragraph 14
14. Calls for action to be taken to ensure plausible and unbureaucratic calculations of savings and efficiency; takes the view that the Energy Efficiency Directive could also serve as framework legislation in this connection; takes the view that specific measures and efficiency criteria might be integrated into existing directives (Buildings Directive) or a combined labelling requirement (energy efficiency labelling, eco-design, circular economy, CE marking);
Amendment 239 #
2015/2232(INI)
Motion for a resolution
Paragraph 15
Paragraph 15
Amendment 253 #
2015/2232(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls in this connection for a continuation and improvement of the Energy Efficiency Directive to be adapted in linafter 2020, in accordance with the EU’s climate protection targets for 2030 and beyond;
Amendment 271 #
2015/2232(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Regrets the Court of Auditors' criticism of less-than-effective energy efficiency projects supported by the EU Structural Funds (2007 to 2013); calls for improved guidelines and more intensive Commission monitoring with a view to making better use of the Structural Funds and EFSI in combination with private investments for energy efficiency investmenprojects;
Amendment 285 #
2015/2232(INI)
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls for an strengthened implementation of the Energy Efficiency Directive in addition to an improved enforcement; welcomes in this regard better coordination and exchange of ideas among Member States on the saving obligations and building and renovation plans (Articles 4, 5, 6 and 7) with the aim of applying existing instruments (tax incentives, support programmes, model contracts) more quickly; calls for Commission guidelines for future national plans;
Amendment 8 #
2015/2113(INI)
Motion for a resolution
Citation 32
Citation 32
– having regard to Directive 2002/910/31/ECU of the European Parliament and of the Council of 16 December9 May 20102 on the energy performance of buildings (recast),
Amendment 98 #
2015/2113(INI)
Motion for a resolution
Recital F
Recital F
F. whereas EU energy and climate policies must complement each another, and their objectives must reinforce rather than undermine one another; the Energy Union should therefore complement European reindustrialisation targets, boost the transition to a low- emission economy and enhance the global competitiveness of the European economy, while effectively avoiding any threat of carbon leakage;
Amendment 113 #
2015/2113(INI)
Motion for a resolution
Recital G a (new)
Recital G a (new)
Ga. whereas the EU building stock is responsible for approximately 40% of final EU energy consumption and for the consumption of approximately 60% of EU gas imports, therefore making the moderation of its energy demand an important factor towards achieving energy independence;
Amendment 175 #
2015/2113(INI)
Motion for a resolution
Recital Q
Recital Q
Q. whereas the price difference with other economies hascan have a negative impact on the competitiveness of our industry, in particular our energy-intensive industries;
Amendment 233 #
2015/2113(INI)
Motion for a resolution
Recital Y
Recital Y
Y. whereas diversification of supplies, the completion of the internal energy market, moreenergy efficient energy consumptioncy as an energy source in itself by moderation of demand, the development of indigenous energy resources and R&D activities are the key drivers of the Energy Union;
Amendment 264 #
2015/2113(INI)
Motion for a resolution
Paragraph 1 b (new)
Paragraph 1 b (new)
1b. Reiterates its commitment to the 2030 targets for climate and energy; to reduce greenhouse gas emissions by 40%, to increase the share of renewables in the European energy mix to 27% and to increase energy efficiency by 30%.
Amendment 290 #
2015/2113(INI)
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that all EU infrastructure projects aimed at diversifying energy sources, suppliers and routes must be fully in line with EU legislation and EU energy security priorities and calls on the Commission to consider investments that moderate energy demand, e.g. in building stock, as eligible projects;
Amendment 301 #
2015/2113(INI)
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Reiterates its commitment to achieve the 10% interconnectivity market in order to complete the Internal Energy Market in EU; whilst acknowledging the importance of also achieving a quantitative target of interconnectivity by ensuring availability of existing national and cross-border infrastructure in order to ensure effective use of European energy sources and increased security of supply;
Amendment 521 #
2015/2113(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Recalls that the energy markets distinguishes themselves from the financial markets by the underlying physical assets, by which the systemic risk in the energy sector is eliminated;
Amendment 522 #
2015/2113(INI)
Motion for a resolution
Paragraph 20 a (new)
Paragraph 20 a (new)
20a. Notes that the establishment of liquid and efficient markets for electricity, heat and carbon emissions is essential for the purpose of further market integration and liberalisation, which again is an important prerequisite for reducing the energy bill to consumers and businesses, ensuring security of supply, continued decarbonisation of the energy sector, and support a competitive Europe;
Amendment 589 #
2015/2113(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Stresses the need for full implementation and enforcement of existing EU energy legislation and for a swift adoption of ambitious European network codes and guidelines, which must go hand in hand with strengthening the competences and resources of the Agency for the Cooperation of Energy Regulators (ACER), the European Network of Transmission System Operators for Electricity (ENTSO-E) and the European Network of Transmission System Operators for Gas (ENTSO-G);
Amendment 606 #
2015/2113(INI)
Motion for a resolution
Paragraph 24
Paragraph 24
24. Stresses that a properly designed future model of the electricity market in the EU must aim at a more market-based and optimal, from the point of view of network security, integration of renewableincluding initiatives and resources which will increase the stability of the electricity network and the ability to use innovative technologies and energy sources;
Amendment 691 #
2015/2113(INI)
Motion for a resolution
Paragraph 27
Paragraph 27
27. Points out that in order to successfully balance the internal market, investment is needed not only in interconnectors but also in, inter alia, storage capacity, such as thermal storage solutions, LNG terminals and smart grids, in order to cope with enhanced renewable and distributed generation;
Amendment 707 #
2015/2113(INI)
Motion for a resolution
Paragraph 28
Paragraph 28
28. Stresses the need to create a legislative framework that empowers consumers and makes them active participants in the market as investors and stakeholders; notes that consumers' involvement can be strengthened through, inter alia, energy cooperatives and micro-generation and - storage, as well as enhanced transparency and flexibility of prices and consumer choices; points out that such initiatives could contribute to reducing energy prices and help address serious social problems, such as fuel poverty;
Amendment 741 #
2015/2113(INI)
Motion for a resolution
Paragraph 29
Paragraph 29
29. Notes that following the European Council conclusions of 23 and 24 October 2014, post-2020 EUcalled for an EU wide target for energy- efficiency targets must be non-binding and not apply at national levelof at least 27%, whereas the European Commission called for a target of 30% energy efficiency and the European Parliament supported a target of 40%;
Amendment 839 #
2015/2113(INI)
Motion for a resolution
Paragraph 34
Paragraph 34
34. Acknowledges that local authorities of European cities undoubtedly make an important contribution toStresses the need for a continued commitment to ensure energy independence by increasing energy- efficiency through cogeneration, modernising district heating systems, modernisation of heating and cooling systems, increasing the use of cleaner public transport, encouraging more active travel models and renovating building stocks; calls in this respect on the Commission to adopt an EU strategy for heating and cooling to identify all actions and synergies needed in the residential, commercial and industrial sectors to reduce the dependency while contributing to EU's climate and energy targets;
Amendment 868 #
2015/2113(INI)
Motion for a resolution
Paragraph 36
Paragraph 36
36. Underlines the crucial role of renewables in the EU, both in attaining its greenhouse gas reduction targets, energy security and in the creation of growth and jobs in the EU; underlines that, in this regard, the current market design should be improved by fully integrating renewables, e.g. for heating, cooling, transport and electricity, into the market and introducing cost-reflective balancing prices;
Amendment 908 #
2015/2113(INI)
Motion for a resolution
Paragraph 37
Paragraph 37
37. Stresses, however, that the EU must employ a technology-neutral approach to decarbonising our energy systems, adopting strategies for using and promoting nbot onlyh renewable energy sources but alsoand other low-emission sources of energy; calls on the Commission, in this respect, to revise its Energy and Environmental State Aid Guidelines in a way which will provide for an equitable treatment of energy production from different energy sources;
Amendment 923 #
2015/2113(INI)
Motion for a resolution
Paragraph 38
Paragraph 38
Amendment 957 #
2015/2113(INI)
Motion for a resolution
Paragraph 39
Paragraph 39
39. Recognises that indigenous energy sources such as nuclear, clean coal technologies and fossil fuels with carbon capture and storage (CCS) wcould make a fundamental contribution to EU energy security and decarbonisation, with shale gas facilitating the transition to a low- emission economy; believes, in this respect, that the Energy Union must reflect the need for the EU to use all low and lower emission sources at Member States' disposal;
Amendment 991 #
2015/2113(INI)
Motion for a resolution
Paragraph 41
Paragraph 41
41. Calls on the Commission to put forward a proposals for establishing a Modernisation Fund, which should have strict criteria and guidance to ensure that funding is targeted at genuine energy modernisation projects, which would be selected based on a technology-neutral approach and on whether they are demonstrably consistent with attainment of the EU's 2030 greenhouse gas objectivesrevision of the European Trade Emission System (ETS) in order to support the EU decarbonisation efforts, and calls in this respect on the Commission to include a proposal for a Modernisation Fund;
Amendment 1023 #
2015/2113(INI)
Motion for a resolution
Paragraph 43
Paragraph 43
43. Calls on the Commission and the Member States to undertake common efforts in order to bring downensure cost optimisation in the wholesale and retail gas and energy prices by 20 % by 2020sector;
Amendment 1126 #
2015/2113(INI)
Motion for a resolution
Paragraph 49
Paragraph 49
49. Calls on the Commission to provide an explicit mapping of the different funding and financing instruments, such as the InvestEU programme, Connecting Europe (PCIs), R&D funds, structural funds, smart grid financing instruments (ERA-Net Plus), the Horizon 2020 programme (H2020), the European Investment Bank (EIB), the European Energy Programme for Recovery (EEPR), the Connecting Europe Facility - Energy (CEF-E), NER 300 and Eurogia+, and to clarify the eligibility rules for each of these programmes, while taking into account the technology neutral approach; calls on the Commission to aim to provide more balanced support and spending throughout the EU to avoid creating a technological rift between regions;
Amendment 129 #
2015/2106(INI)
Motion for a resolution
Paragraph 8
Paragraph 8
8. Believes that consumer protection does not necessarily entail large volumes of information; is concerned that the multiplicity of customer information might not ultimately serve real customer needs; points to the necessity of a European initiative for more and better financial education; welcomes the attention recently paid to the necessity to streamline information requirements, as shown inter alia by the Commission’s decision to review the Prospectus Directive and by the ongoing reflections on a Key Information Document for PRIIPS, and calls for reflection and work in this direction to be pursued;
Amendment 136 #
2015/2106(INI)
Motion for a resolution
Paragraph 9
Paragraph 9
9. Highlights the benefits of asset diversification inasmuch as it allows to spread risks and makes it possible to better match investors’ needs; emphasises that the purpose of prudential regulation is not to favour certain asset classes; calls for a risk- based approach to regulation, withhereby the same rules beingare applied to the same risks; believes that a more granular categorisation of asset classes is appropriate, in particular by establishing categories such as infrastructure;
Amendment 180 #
2015/2106(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Welcomes the diversity of business models; calls for a differentiation in regulation and supervision regardingbased on the nature, size, riskiness and complexity of entities under consideration;
Amendment 214 #
2015/2106(INI)
Motion for a resolution
Paragraph 16
Paragraph 16
16. Reiterates the need for a level playing field within the EU, also with regard to SSM as far as financial regulation and supervision are concerned, including between SSM-supervised banks and the banks of non- participating Member States;
Amendment 276 #
2015/2106(INI)
Motion for a resolution
Paragraph 21
Paragraph 21
21. Stresses that efforts for a cultural change in the financial sector have to be pursued further in order to accompany a gradual shift towards more diversity of funding sources; acknowledges however the benefits of relationship banking for consumers and SMEs in particular in terms of reducing asymmetries of information;
Amendment 294 #
2015/2106(INI)
Motion for a resolution
Paragraph 23
Paragraph 23
23. Underlines the importance of the international framework with respect to its scope, methodologies and implications on the EU framework; stresses that consistency of new regulation, both with the existing European acquis and with the guidance provided by international institutions and fora, should be a priority; calls on the Commission and ESAs to coordinate more closely with international bodies promoting EU interests;
Amendment 319 #
2015/2106(INI)
Motion for a resolution
Paragraph 26
Paragraph 26
26. Believes that better financial regulation starts with Member States applying the current acquis; stresses that effective, efficient and consistent implementation of the legislation passed is crucial in order for the intended results to be achieved; stresses accordingly that all institutions involved should pay due attention to this process and its monitoring; considers that gold-plating does not facilitate the functioning of the internal market;
Amendment 431 #
2015/2106(INI)
Motion for a resolution
Paragraph 43 a (new)
Paragraph 43 a (new)
43a. Calls on Member States to commit to respect the deadlines set for the transposition of directives since, in addition to being a legal requirement, this is key in order to avoid undue delays in the full implementation of legislation, as well as its partial or uneven application across the Union, which might result in the absence of a level playing field for the different actors involved and in other types of distortions;
Amendment 65 #
2015/2036(INI)
Motion for a resolution
Recital H a (new)
Recital H a (new)
H a. whereas Russia suspended its participation in the Treaty of Conventional Arms Control of Europe in 2007 and has declared 10th of March 2015 about stopping its engagement also in the consultative group of the Treaty and by that fully pulling out of CFE;
Amendment 166 #
2015/2036(INI)
Motion for a resolution
Paragraph 12
Paragraph 12
12. Expresses hope that the Minsk ceasefire agreement reached on 12 February 2015 will hold, although there are signs of violation by the Russian side and the separatists and thereby provide the time for a negotiated political solution;
Amendment 176 #
2015/2036(INI)
Motion for a resolution
Paragraph 13
Paragraph 13
13. Believes that, in the event thatuntil Russia does not honourfully implement the Minsk ceasefire agreement, and continues the destabilisation of eastern Ukraine and the illegal annexation of Crimea, the sanction regime should be continued and even strengthened;
Amendment 205 #
2015/2036(INI)
Motion for a resolution
Paragraph 17
Paragraph 17
17. Calls on Russia to respect the rights of the local population in Crimea, especially the native Crimean Tatars, thousands of whom have left their homeland for fear of persecution and have sought refuge in other regions in Ukraine; condemns the systematic persecution of especially Crimean Tatars who have participated in demonstrations to support Ukrainian territorial integrity; calls on Russian authorities to immediately stop harassing the executive body of Crimean Tatars, the Mejlis;
Amendment 192 #
2015/2010(INL)
Motion for a resolution
Recital V – point vii
Recital V – point vii
(vii) whereas the Commission's ongoing investigations into alleged breaches of the Union state aid rules have revealed a degree of uncertaintn unhelpful lack of transparency regarding the way in which those rules should be applied; whereas to rectify this, the Commission should publish binding guidelines to clarify how it will determine instances of tax- related state aid, thereby providing more legal certainty for companies and Member States alike;
Amendment 266 #
2015/2010(INL)
Motion for a resolution
Annex – title 1 – subtitle 4 – indent 1
Annex – title 1 – subtitle 4 – indent 1
Extending the scope of the automatic exchange of information beyond cross- border tax rulings to include all tax rulings in the corporate tax area. Information provided must be comprehensive and in a mutually agreed format to ensure that it can be efficiently used by tax authorities in relevant countries.
Amendment 279 #
2015/2010(INL)
Motion for a resolution
Annex – title 1 – subtitle 4 – indent 2 – subparagraph 1 a (new)
Annex – title 1 – subtitle 4 – indent 2 – subparagraph 1 a (new)
In both options, the information provided must be submitted in an agreed, standardised form in order to allow the public to use it effectively.
Amendment 317 #
2015/2010(INL)
Motion for a resolution
Annex – title 2 – subtitle 1 – title
Annex – title 2 – subtitle 1 – title
Recommendation B1. Introduction of a Common Consolidated Corporate Tax Base
Amendment 416 #
2015/2010(INL)
Motion for a resolution
Annex – title 3 – subtitle 9 – indent 1 a (new)
Annex – title 3 – subtitle 9 – indent 1 a (new)
As part of this, the Commission should consider the most efficient way of making the results available to relevant users in order to reduce any uncertainty for corporations in the application of tax law.
Amendment 88 #
2015/2001(INI)
Motion for a resolution
Recital F
Recital F
F. whereas these restrictive targeted measures are not directed against the Russian people but aim at stimulating a change in Russian policy towards, and actions in, the common neighbourhood; whereas the sanctions could be lifted, partially or fully, as soon as Russia commits itself to implementing, fully and honestly, as soon as Russia fully implements the provisions of the Minsk agreements and the return ofs Crimea to Ukraine; whereas the sanctions will be strengthened should Russia chose to do otherwise and refrain from taking any positive step to change its policy;
Amendment 269 #
2015/2001(INI)
Motion for a resolution
Paragraph 5
Paragraph 5
5. CommendsStresses that the solidarity and the unity demonstrated by the Member States in the context of Russia’'s undeclared war against Ukraine, allowing the adoption and further extension of responsive measures should also be expressed by insisting that Russia fully implements the Minsk Agreements and returns Crimea to Ukraine, allowing further extension of existing sanctions if it goes otherwise; calls on the Member States to consider as an absolute priority the preservation of this unity; reiterates that unity and solidarity amongst the Member States, as well as between the EU and the Eastern Partnership countries, is essential for ensuring the effectiveness of the EU’'s policies and its ability to withstand external challenges and pressures;
Amendment 61 #
2015/0148(COD)
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) (new recital between Recitals 4 and 5) EU ETS system was designed to play the key role in reaching the EU policy goals in the area of sustainable climate policy. The price of the allowance should motivate sectors where the reduction of CO2 emissions is the most efficient and result in taking necessary measures that will gradually attribute to the fulfilment of the goals. The allowance price that is too low, as a consequence of factors that were not predicted or are by definition unpredictable, undermines the system. Possible broader employment of national measures like carbon tax, will lead to fragmentation of the market with suboptimal economic implications. The high price or excess volatility undermines the system, increases the cost of necessary decarbonisation of economy and harms the responsible industry. Current measures failed so far to assure the stabilisation of the allowance price. The result is in some cases the penalisation of companies that took measures to reduce their CO2 emissions, and a short term profit of companies that keep employing or are even reemploying technologies that are benefiting from the low allowance price. The allowance price that is sufficient to motivate investments into decarbonisation of the production, is the key for a functional EU ETS market. Low volatility and predictability of the allowance price precludes reaching of climate goals.
Amendment 62 #
2015/0148(COD)
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) In accordance with the UNFCCC Paris agreement, all sectors of the economy must contribute to the reduction of CO2 emissions. To this end, efforts to limit international maritime emissions through the International Maritime Organisation are under way and must be encouraged, with the aim of establishing a clear IMO action plan for climate policy measures to tackle CO2 emissions from shipping at a global level. To this effect, the European Commission and Member States must focus on ensuring the implementation of Council Regulation 2015/757 of 29 April 2015 on the monitoring, reporting and verification of carbon dioxide emissions from maritime transport, which is a prerequisite for any market-based measure, efficiency standard or other measure, whether applied at Union level or globally.
Amendment 95 #
2015/0148(COD)
Proposal for a directive
Recital 7
Recital 7
(7) To preserve the environmental benefit of emission reductions in the Union while actions by other countries do not provide comparable incentives to industry to reduce emissions, free allocation should continue to installations in sectors and sub- sectors at genuine risk of carbon leakage, while recognizing that the analysis of sub- sectors in risk of carbon leakage may require disaggregation down to the product level. Experience gathered during the operation of the EU ETS confirmed that sectors and sub-sectors are at risk of carbon leakage to varying degrees, and that free allocation has prevented carbon leakage. While some sectors and sub- sectors can be deemed at a higher risk of carbon leakage, others are able to pass on a considerable share of the costs of allowances to cover their emissions in product prices without losing market share and only bear the remaining part of the costs so that they are at a low risk of carbon leakage. The Commission should determine and differentiate the relevant sectors, and where appropriate and justified sub-sectors, based on their trade intensity and their emissions intensity to better identify sectors and sub-sectors at a genuine risk of carbon leakage. Where, based on these criteria, a threshold determined by taking into account the respective possibility for sectors and sub- sectors concerned to pass on costs in product prices is exceeded, the sector or sub-sector should be deemed at risk of carbon leakage. Others should be considered at a low risk or at no risk of carbon leakage. Taking into account the possibilities for sectors and sub-sectors outside of electricity generation to pass on costs in product prices should also reduce windfall profits.
Amendment 108 #
2015/0148(COD)
Proposal for a directive
Recital 4 a (new)
Recital 4 a (new)
(4a) The EU ETS was designed to play a key role in reaching the Union policy goals in the area of sustainable climate policy. The price of allowances should incentivise sectors where the reduction of CO2 emissions is most efficient and lead to the gradual fulfilment of those goals. The fact that the allowance price is too low, as a consequence of factors that were not predicted or are by definition unpredictable, as such undermines the system. Possible broader recourse to national measures such as a carbon tax, is likely to lead to the fragmentation of the market with suboptimal economic implications. The high price or excess volatility undermines the system, increases the cost of necessary decarbonisation of the economy and harms responsible companies. Current measures have failed so far to stabilise the allowance price. The result is, in some cases, the penalisation of companies that took measures to reduce their CO2 emissions, and a short term profit for companies that keep employing or are even reemploying technologies that are benefiting from the low allowance price. An allowance price that is sufficient to motivate investments in the decarbonisation of production is the key for a functional EU ETS market. Low volatility and predictability of the allowance price precludes reaching of climate goals.
Amendment 191 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point a – introductory part
Article 1 – paragraph 1 – point 4 – point a – introductory part
(a) threefour new subparagraphs are added to paragraph 1:
Amendment 215 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point a
Article 1 – paragraph 1 – point 4 – point a
Article 10 – paragraph a – subparagraph 3a new subparagraph 3
The Commission should monitor such notable results of policy related factors that can lead to increase of oversupply of allowances (like impact of subsidized renewable energy sources or substantial energy efficiency measures triggered by government programs). If the combination of such factors leads to decrease of functionality of the EU ETS, the Commission should propose following legislative measures: - in order to restore supply-demand balance in EU ETS, propose the deduction of relevant volume of allowances from auctions by Member States under Article 10(2) and place them in the market stability reserve established by Decision (EU) 2015/1814 - propose appropriate downward correction of linear factor, in order to reach neutrality of previous measures within the existing EU ETS period
Amendment 252 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point d a (new)
Article 1 – paragraph 1 – point 4 – point d a (new)
(da) In Article 10, paragraph 5 is replaced by the following: The Commission shall monitor the functioning of the European carbon market. Each year, it shall submit a report to the European Parliament and to the Council on the functioning of the carbon market including the implementation of the auctions, liquidity and the volumes traded. The report shall also address the interaction between the EU ETS and other climate and energy measures at European and national level, and shall analyse the implications of various policy instruments on the functioning of EU ETS market, especially on the supply- demand balance in the carbon market. Member States shall ensure that any relevant information is submitted to the Commission at appropriate time. On the basis of the report referred to above, the Commission shall, if appropriate, submit a legislative proposal to the European Parliament and to the Council amending this Directive reflecting outcomes of the report in order to preserve the functionality of EU ETS market.
Amendment 256 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 4 – point d b (new)
Article 1 – paragraph 1 – point 4 – point d b (new)
(db) If the price development of the allowance gets into contradiction with the EU ETS goals, especially if it is too high and threatens the competitiveness of the EU industry or too low and does not provide incentives for gradual decarbonisation of the economy and stimulates the reemployment of technologies generating high carbon emissions, the Commission can propose, after consultation with the European parliament and Council, a delegated act, that will adjust temporarily the function of MSR and auctioning mechanism as follows: - for every auction of allowances, there will be a transparent and preannounced limit for the lowest accepted price. Allowances that will not be sold, will be transferred to MSR, free allocation of allowances and limits for them will not be affected. - for every auction of allowances, there will be a transparent and preannounced limit for the maximum allowance price. Allowances that will not be demanded above the offered volume, will be deducted from the MSR. If there is not a sufficient volume of allowances in MSR, the orders at the highest price will be accepted proportionally up to available allowances in MSR.
Amendment 257 #
2015/0148(COD)
Proposal for a directive
Article 1 – point 4 – point a a (new)
Article 1 – point 4 – point a a (new)
Directive 2003/87/EC
Article 10 – paragraph 1 – subparagraph 4 a (new)
Article 10 – paragraph 1 – subparagraph 4 a (new)
Amendment 295 #
2015/0148(COD)
Proposal for a directive
Article 1 – point 4 – point d c (new)
Article 1 – point 4 – point d c (new)
Directive 2003/87/EC
Article 10 – paragraph 5
Article 10 – paragraph 5
(dc) paragraph 5 is replaced by the following: '5. The Commission shall monitor the functioning of the European carbon market. Each year, it shall submit a report to the European Parliament and to the Council on the functioning of the carbon market including the implementation of the auctions, liquidity and the volumes traded. If necessary, Member States shall ensure that any relevant information is submitted to the Commission at least two months before the Commission adopts the reporThe report shall also address the interaction between the EU ETS and other climate and energy policies at Union and national level, and shall analyse the implications of various policy instruments on the functioning of EU ETS market, especially on the supply- demand balance in the carbon market. Member States shall ensure that any relevant information is submitted to the Commission at an appropriate time. On the basis of the report referred to in the first subparagraph, the Commission shall, if appropriate, submit a legislative proposal to the European Parliament and to the Council amending this Directive reflecting outcomes of the report in order to preserve the functionality of the EU ETS market.'
Amendment 298 #
2015/0148(COD)
Proposal for a directive
Article 1 – point 4 – point d d (new)
Article 1 – point 4 – point d d (new)
Directive 2003/87/EC
Article 10 – paragraph 5 – subparagraph 1 a (new)
Article 10 – paragraph 5 – subparagraph 1 a (new)
Amendment 420 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 5 – point f
Article 1 – paragraph 1 – point 5 – point f
Directive 2003/87/EC
Article 10a, para. 8
Article 10a, para. 8
400 million allowances shall be available to support innovation in low-carbon technologies and processes in industrial sectors listed in Annex I, and to help stimulate the construction and operation of commercial demonstration projects that aim at the environmentally safe capture and geological storage (CCS) of CO2 as well as demonstration projects of innovative renewable energy technologies and innovative technologies for transmission and distribution, in the territory of the Union.
Amendment 472 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive 2003/87/EC
Article 10b – paragraph 1
Article 10b – paragraph 1
1. Sectors and sub-sectors, as defined by PRODCOM-8 level when appropriate and justified, where the product exceeds 0.2 from multiplying their intensity of trade with third countries, defined as the ratio between the total value of exports to third countries plus the value of imports from third countries and the total market size for the European Economic Area (annual turnover plus total imports from third countries), by their emission intensity, measured in kgCO2 divided by their gross value added (in €), shall be deemed to be at risk of carbon leakage. Such sectors and sub-sectors shall be allocated allowances free of charge for the period up to 2030 at 100% of the quantity determined in accordance with the measures adopted pursuant to Article 10a.
Amendment 487 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive 2003/87/EC
Article 10b – paragraph 2
Article 10b – paragraph 2
2. Sectors and sub-sectors where the product from multiplying their intensity of trade with third countries by their emission intensity is above 0.18 may be included in the group referred to in paragraph 1, on the basis of a qualitative assessment, based on a detailed impact assessment and taking into account sectors and sub-sectors at the relevant level, either at PRODCOM or NACE code level as appropriate, using the following criteria:
Amendment 521 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Article 10b, para. 4 Directive 2003/87/EC
By 31 December 2019, the Commission shall adopt a delegated act for the preceding paragraphs for activities at a 4- digit level (NACE-4 code), or where appropriate and justified at an 8-digit product-level (PRODCOM-8), as concerns paragraph 1, in accordance with Article 23, based on data for the three most recent calendar years available.
Amendment 569 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive 2003/87/EC
Article 10 c – paragraph. 2 (ba) new
Article 10 c – paragraph. 2 (ba) new
(ba) ensure that the modernisation of utilities is reserved to projects leading to an emission performance below the threshold level of the European Investment Bank's carbon footprint benchmark for power generation;
Amendment 570 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive 2003/87/EC
Article 10 c – paragraph 2(c)
Article 10 c – paragraph 2(c)
(c) define clear, objective, transparent and non-discriminatory selection criteria in line with the Energy Union principles and the EU 2050 climate and energy objectives for the ranking of projects, so as to ensure that projects are selected which:
Amendment 575 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive 2003/87/EC
Article 10 c – paragraph 2 c (i)
Article 10 c – paragraph 2 c (i)
(i) on the basis of a cost-benefit analysis, ensure a net positive gain in terms of emission reduction and realise a pre- determined significant level of CO2 reductions; in accordance with Annex I of the Climate Strategy of the European Investment Bank; and
Amendment 581 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Directive 2003/87/EC
Article 10 c – paragraph 2 c (ii)
Article 10 c – paragraph 2 c (ii)
(ii) are additional, clearly respond to replacement and modernisation needs and do not supply a market-driven increase in energy demand; and
Amendment 617 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
A fund to support investments in modernising energy systems, including transmission and distribution systems and interconnectors, and improving energy efficiency in Member States with a GDP per capita below 60% of the Union average in 2013 shall be established for the period 2021-30 and financed as set out in Article 10.
Amendment 666 #
2015/0148(COD)
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2003/87/EC
Article 10 d – paragraph 4
Article 10 d – paragraph 4
The fund shall be governed by an investment board and a management committee, which shall be composed of representatives from the beneficiary Member States, the Commission, the EIB and three representatives elected by the other Member States for a period of 5 years. The composition of the investment board shall be published. The investment board shall be responsible to determine an Union-level investment policy, appropriate financing instruments and investment selection criteria. The management committee shall be responsible for the day-to-day management of the fund, in accordance with the EIB investment criteria and the EU's energy and climate objectives as well as the Energy Union policies. The management committee shall be responsible for the day-to-day management of the fund. Information regarding the projects benefitting from the Modernisation fund shall be made publicly available.
Amendment 138 #
2014/0020(COD)
Proposal for a regulation
Recital 17
Recital 17
(17) To ensure that the entities subject to the prohibition of proprietary trading can continue to contribute toward the financing of the economy, they should be allowed to invest in a closed list of funds. This exhaustive list should comprise closed- ended and unleveraged alternative investment funds (AIFs), European Vwhich are not substantially leveraged in accordance with the Directive 2011/61/EU26 and Regulation 231/2013, venture Ccapital Ffunds that fall under the definition foreseen in Article 3(b) of Regulation (EU) No 346/2013, European Social Entrepreneurship Funds and European Long Term Investment Funds. To Given the contribution of vensture that these funds do not endanger the viability and financial soundness of the credit institutions that invest in them, it is essential that closed-ended and unleveraged AIFs in which credit institutions can still invest are managed by AIF managers that are authorised and supercapital funds toward the financing of the economy, in particular SMEs and the fact that EuVECA is an optional regime, credit institutions should be allowed to continue to invest in all type of venture capital funds. Therefore all venture capital funds that meet the definition of qualifying venture capital fund should be exempted from the proprietary trading ban. All the funds mentioned above are properly regulated and competent authorities are provisded in accordance with the relevant provisions of Directive 2011/61/EU of the European Parliament and of the Council26 , and that those AIFs are established in the Union or, if they are not established in the Union, they are marketed in the Union according to the rules of that Directivewith different supervisory tools for monitoring and addressing risks associated with either funds' or managers' activities. Investments in those types of funds do not endanger financial soundness of the credit institutions and therefore credit institutions should be allowed to invest in such funds. __________________ 26Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010
Amendment 142 #
2014/0020(COD)
Proposal for a regulation
Recital 18
Recital 18
(18) The entities subject to the prohibition of proprietary trading should be allowed to use their own capital to make investments in the framework of their cash management. Cash management should be an activity aiming at preserving the value of own capital while spreading credit risk across multiple counterparties and maximising the liquidity of its own capital. In managing its cash, entities subject to the prohibition of proprietary trading should not pursue the objective of achieving returns greater than money market rates, using as a benchmark the rate of return of a three-month high quality government bond.
Amendment 202 #
2014/0020(COD)
Proposal for a regulation
Recital 47 a (new)
Recital 47 a (new)
(47 a) Corporate and investment banking activities are part of global financial system, and are often carried out by the credit institutions from different jurisdictions and under different regulatory regime. They all can compete with each other on various markets worldwide. European regulation of these activities should be set having in mind need to maintain competitiveness of European financial system and ensure a level playing field between European banks and non-European banks.
Amendment 344 #
2014/0020(COD)
Proposal for a regulation
Article 6 – paragraph 3
Article 6 – paragraph 3
3. The restrictions laid down in point (b) of paragraph 1 shall not apply with regard to closed-ended and unAIFs, which are not substantially leveraged AIFs, as defined in Directive 2011/61/EU where those AIFs are established in the Union or, if they are not established in the Union, they are marketed in the Union according to Articles 35 or 40 of Directive 2011/61/EU and Article 111 of the Regulation 231/2013, to qualifying venture capital funds as defined in Article 3(b) of Regulation (EU) No 345/2013, to qualifying social entrepreneurship funds as defined in Article 3(b) of Regulation (EU) No 346/2013, and to AIFs authorized as ELTIFs in accordance with Regulation (EU) No [XXX/XXXX].
Amendment 572 #
2014/0020(COD)
Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 2
Article 11 – paragraph 1 – subparagraph 2
As part of the prudent management of its capital, liquidity and funding, a core credit institution may only use interest rate derivatives, foreign exchange derivatives and cred, equity derivatives eligible for central counterparty clearingand credit derivatives to hedge its overall balance sheet risk. The core credit institution shall demonstrate to the competent supervisor that the hedging activity is designed to reduce, and demonstrably reduces or significantly mitigates, specific, identifiable risks of individual or aggregated positions of the core credit institution.
Amendment 580 #
2014/0020(COD)
Proposal for a regulation
Article 11 – paragraph 3
Article 11 – paragraph 3
Amendment 593 #
2014/0020(COD)
Proposal for a regulation
Article 12 – paragraph 1 – subparagraph 1 – introductory part
Article 12 – paragraph 1 – subparagraph 1 – introductory part
A core credit institution that has been subject to a decision referred to in Article 10(3) may sell interest rate derivatives, foreign exchange derivatives, credit derivatives, equity derivatives, emission allowances derivatives and commodity derivatives eligible for central counterparty clearing and emission allowances to its non- financial clients, to financial entities referred to in the second and third indents of point (19) of Article 5, to insurance undertakings and to institutions providing for occupational retirement benefits when the following conditions have been satisfied:
Amendment 689 #
2014/0020(COD)
Proposal for a regulation
Article 20 – paragraph 1 – point a
Article 20 – paragraph 1 – point a
(a) take covered deposits that are eligible under the Deposit Guarantee Scheme in accordance withas defined in Article 2 of Directive 92014/149/EC except where the said deposit relates to the exchange of collateral relating to trading activities;
Amendment 692 #
2014/0020(COD)
Proposal for a regulation
Article 20 – paragraph 1 – point b
Article 20 – paragraph 1 – point b
(b) provide payment services as defined in Article 4(3) of Directive 2007/64/EC associated with the activities referred to in point (a) except where the said payment services are ancillary and strictly necessary for the exchange of collateral relating to trading activitiescarried out with a group subject agreed in cross-border resolution plan.
Amendment 24 #
2014/0011(COD)
Proposal for a decision
Recital 2
Recital 2
(2) The report from the Commission to the European Parliament and the Council on the state of the European carbon market in 21027 identified the need for measures in order to tackle structural supply-demand imbalances. The impact assessment on the 2030 climate and energy policy framework8 indicates that this imbalance is expected to continue, and would not be sufficiently addressed by adapting the linear trajectory to a more stringent target within this framework. A change in the linear factor only changes gradually the cap. Accordingly, the surplus would also only gradually decline, such that the market would have to continue to operate for more than a decade with a surplus of around 2 billion allowances or more, thereby preventing the ETS from delivering the necessary investment signal to reduce CO2 emissions in a cost efficient manner. In order to address this problem and to make the European Emission Trading System more resilient to imbalances, a market stability reserve should be established. To ensure regulatory certainty as regards auction supply in phase 3 and allow for some lead-time adjusting to the introduction of the design change, the market stability reserve should be established as of phase 4 starting in 20217. In order to preserve a maximum degree of predictability, clear rules should be set for placing allowances into the reserve and releasing them from the reserve. Where the conditions are met, beginning in 20217, allowances corresponding to 12% of the number of allowances in circulation in year x-2 should be put into the reserve. A corresponding number of allowances should be released from the reserve when the total number of allowances in circulation is lower than 400 million. __________________ 7 8COM(2012)652 final. COM(2012)652. 8 Insert reference. Insert reference.
Amendment 48 #
2014/0011(COD)
Proposal for a decision
Recital 4
Recital 4
(4) The Commission should review the functioning of the market stability reserve in relation to its operation in the light of experience of its application. The review of the functioning of the market stability reserve should in particular consider whether the rules on placing allowances in the reserve are appropriate with regard to the aim pursued to tackle structural supply- demand imbalances. The review should be carried out in 2022.
Amendment 54 #
2014/0011(COD)
Proposal for a decision
Article 1 – paragraph 1
Article 1 – paragraph 1
1. A market stability reserve is established, and shall operate from 1 January 20217.
Amendment 73 #
2014/0011(COD)
Proposal for a decision
Article 1 – paragraph 3
Article 1 – paragraph 3
3. In each year beginning in 20217, a number of allowances equal to 12% of the total number of allowances in circulation in year x-2, as published in May year x-1, shall be placed in the reserve, unless this number of allowances to be placed in the reserve would be less than 100 million.
Amendment 100 #
2014/0011(COD)
Proposal for a decision
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
Directive 2003/87/EC
Article 10 – paragraph 1
Article 10 – paragraph 1
2. “1. From 20217 onwards, Member States shall auction all allowances that are not allocated free of charge in accordance with Article 10a and 10c and are not placed in the market stability reserve established by Decision [OPEU please insert number of this Decision when known] of the European Parliament and of the Council(*).”
Amendment 121 #
2014/0011(COD)
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
By 31 December 20262, the Commission shall on the basis of an analysis of the orderly functioning of the European carbon market review the market stability reserve and submit a proposal, where appropriate, to the European Parliament and to the Council. The review shall pay particular attention to the percentage figure for the determination of the number of allowances to be placed into the reserve according to Article 1(3) and the numerical value of the threshold for the total number of allowances in circulation set by Article 1(4).
Amendment 127 #
2014/0011(COD)
Proposal for a decision
Article 4 – paragraph 1
Article 4 – paragraph 1
Article 10(1) of Directive 2003/87/EC as amended by Directive 2009/29/EC shall continue to apply until 31 December 202016.
Amendment 286 #
2013/0314(COD)
Proposal for a regulation
Recital 48
Recital 48
(48) In order to ensure uniform conditions for the implementation of this Regulation and further specify technical elements of the proposal, the power to adopt acts in accordance with Article 290 TFEU should be delegated to the Commission in respect of the specification of technical elements of definitions, governance and control requirements applied to administrators and to supervised contributors, requirements concerning input data and methodology, the code of conduct, specific requirements for different types of benchmarks and sectors and the information to be provided in applications for authorisation of administrators. When proposing these acts, the prevailing international standards for administration, contribution and the use of benchmarks should be taken into account, especially results of the work of IOSCO. Proportionality, especially in case of non-critical benchmarks and commodity benchmarks must be respected.
Amendment 287 #
2013/0314(COD)
Proposal for a regulation
Recital 51 a (new)
Recital 51 a (new)
(51a) This Regulation includes requirements on administrators of non- financial benchmarks. In the implementation of this Regulation, ESMA and the Commission should therefore cooperate closely with energy supervisors and other relevant supervisory authorities, both at the national and the EU level.
Amendment 336 #
2013/0314(COD)
Proposal for a regulation
Article 3 – paragraph 1 – point 11
Article 3 – paragraph 1 – point 11
(11) ‘regulated data’ means the following: (i) input data that is contributed entirely and directly from: (a) a trading venue as defined in point (254) of paragraph 1 of Article 24 of [MIFIR] orDirective 2014/65/EU; or (b) an approved publication arrangement as defined in point (1852) of paragraph 1 of Article 24 of [MIFIR ] or an approved reporting arrangementDirective 2014/65/EU or a consolidated tape provider as defined in point (53) of paragraph 1 of Article 4 of Directive 2014/65/EU, in accordance with mandatory post-trade transparency requirements, but only with reference to data of transactions concerning financial instruments that are traded on a trading venue; or (c) an approved reporting mechanism as defined in point (2054) of paragraph 1 of Article 2 of [MIFIR]4 of Directive 2014/65/EU, but only with reference to data of transactions concerning financial instruments that are traded on a trading venue and that must be disclosed in accordance with mandatory post -trade datatransparency requirements; or (d) an electricity exchange as referred to in point (j) of paragraph 1 of Article 37 of Directive 2009/72/EC19; or (e) a natural gas exchange as referred to in point (j) of paragraph 1 of Article 41 of Directive 2009/73/EC20 or (f) an auction platform referred to in Article 26 or in Article 30 of Regulation (EU) No 1031/2010 of the European Parliament and of the Council; (g) data provided under paragraph 1 of Article 8 of Regulation (EU) No 1227/2011 and elaborated in Implementing Regulation (EU) No 1348/2014 (ii) net asset values of the units of undertakings for collective investment in transferable securities (UCITS) as defined in Article 1(2) of Directive 2009/65/EU; __________________ 19 OJ L 211, 14.8.2009, p. 55. 19 20 OJ L 9, 14.8.2009, p. 112. 20
Amendment 382 #
2013/0314(COD)
Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 1 – point a – paragraph 2
Article 7 – paragraph 1 – subparagraph 1 – point a – paragraph 2
The input data shall be transaction data. If available or, where more appropriate, non-transaction based data, is not sufficient to represenncluding committed quotes and verifiable estimates provided that it accurately and reliably represent the market or economic reality that the benchmark is intended to measure, input data which is not transaction data may be used provided that such data is verifiable.
Amendment 387 #
2013/0314(COD)
Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 1 – point c
Article 7 – paragraph 1 – subparagraph 1 – point c
(c) Where the input data of a benchmark is not transaction data and a contributor is a party to more than 50% of value of transactions in the market which that the benchmark intends to measure, the administrator shall verify, the administrator shall verify, where it is practically possible, that the input data represents a market subject to competitive supply and demand forces. Where the administrator finds that the input data does not represent a market subject to competitive supply and demand forces, it shall either change the input data, the contributors or the methodology to ensure that the input data represents a market subject to competitive supply and demand forces, or cease to provide that benchmark (‘Market impact’). Any change referred to in this paragraph shall not be considered as a breach of any financial contract or financial instrument which references that benchmark.
Amendment 398 #
2013/0314(COD)
Proposal for a regulation
Article 7 – paragraph 3 – point b
Article 7 – paragraph 3 – point b
(b) specific features of different benchmarks andProportionality on requirements for critical, non-critical and commodity benchmarks and specificity of different types of benchmarks; and
Amendment 414 #
2013/0314(COD)
Proposal for a regulation
Article 9 – paragraph 3 – subparagraph 2
Article 9 – paragraph 3 – subparagraph 2
The Commission shall apply proportionality on requirements for critical, non-critical and commodity benchmarks and take into account the different characteristics of benchmarks and contributors, notably in terms of differences in input data and methodologies, the risks of input data being manipulated and international convergence of supervisory practices in relation to benchmarks.
Amendment 419 #
2013/0314(COD)
Proposal for a regulation
Article 11 – paragraph 4 – subparagraph 2
Article 11 – paragraph 4 – subparagraph 2
The Commission shall apply proportionality on requirements for critical, non-critical and commodity benchmarks and take into account the different characteristics of benchmarks and supervised contributors, notably in terms of differences in input data provided and methodologies used, the risks of manipulation of the input data and the nature of the activities carried out by the supervised contributors, and the developments in benchmarks and financial markets in light of international convergence of supervisory practices in relation to benchmarks.
Amendment 454 #
2013/0314(COD)
Proposal for a regulation
Article 14 – title
Article 14 – title
Mandatory contribution to a critical benchmark
Amendment 464 #
2013/0314(COD)
Proposal for a regulation
Article 14 – paragraph 1 – point b
Article 14 – paragraph 1 – point b
(b) determine the form in which, and the time by which, any input data is to be contributed, without incurring an obligation to either trade or commit trade;
Amendment 468 #
2013/0314(COD)
Proposal for a regulation
Article 14 – paragraph 1 – point c
Article 14 – paragraph 1 – point c
(c) request administrator to change the code of conduct, methodology or other rules of the critical benchmark.is benchmark, to increase its representativeness and robustness;
Amendment 469 #
2013/0314(COD)
Proposal for a regulation
Article 14 – paragraph 1 – point c a (new)
Article 14 – paragraph 1 – point c a (new)
(ca) request administrator to provide and make available to benchmark users the written report on measures that he intends to adopt, to increase its representativeness and robustness.
Amendment 487 #
2013/0314(COD)
Proposal for a regulation
Article 14 – paragraph 4 – introductory part
Article 14 – paragraph 4 – introductory part
Amendment 496 #
2013/0314(COD)
Proposal for a regulation
Article 14 – paragraph 4 a (new)
Article 14 – paragraph 4 a (new)
4a. In order to preserve the representativeness and robustness of the benchmark in case the contributors ceased or intend to cease contributing of input data: (a) the contributor that has notified its intention to cease the contribution of input data, have to contribute the data for the period of 4 weeks, from the date of the notification, unless the administrator instructs him to provide the input data for a shorter time; (b) the earliest time to start the contribution according to point (a) of paragraph 1 is 4 weeks from the decision of competent authority; (c) the maximum period for contribution based on point (a) of paragraph 1 is 1 year and can be extended for each contributor by competent authority once for another 1 year period; (d) the contributors which are requested to contribute according to point (a) of paragraph 1 shall make effort to comply with requirements of this regulation as soon as possible at reasonable cost, and must comply with all requirements of this regulation after 6 months at the latest.
Amendment 497 #
2013/0314(COD)
Proposal for a regulation
Article 14 – paragraph 4 b (new)
Article 14 – paragraph 4 b (new)
4b. If administrator or the competent authority judges, that the regime of mandatory contribution of at least one contributor, providing input data according to point (a) of paragraph 1, will last for longer time than 18 month, or if more than third contributors provide data according to point (a) of paragraph 1 for longer than 3 month, than: (a) the administrator must without a delay provide a written proposal to the competent authority proposing measures, that will eliminate the need to use point (a) of paragraph 1 for securing the representative input data; (b) if the competent authority, after consulting ESMA, considers this measures to be sufficient , than in order to allow smooth implementation of proposed measures, can extend the period from 1 (c) of this Article once more for 6 month for any contributor; (c) any such a change shall not be considered as a breach of any financial contract or financial instrument which refers to that benchmark; (d) in case that proposed changes will not assure representativeness and robustness of the benchmark, the competent authority has to decide on a date, after which the benchmark cannot be used by supervised entities for new financial instruments or contracts. Limits for contribution according to point (a) of paragraph 1, that are stated in point (d) of paragraph 1, do not apply after such a decision.
Amendment 532 #
2013/0314(COD)
Proposal for a regulation
Article 18 – paragraph 1
Article 18 – paragraph 1
1. Where a supervised entity intends to enter into a financial contract with a consumer, that supervised entity shall first obtain the necessary information regarding the consumer's knowledge and experience with respect to the benchmark, his financial situation and his objectives in respect of that financial contract, and the benchmark statement published in accordance with Article 15 and shall assess whether referencing the financial contract to and the financial contract uses a benchmark, the supervised entity should inform the consumer about the appropriateness of the use of thatis benchmark is suitable for himfor the proposed contract.
Amendment 537 #
2013/0314(COD)
Proposal for a regulation
Article 18 – paragraph 2
Article 18 – paragraph 2
2. Where the supervised entity considers, on the basis of the assessment under paragraph 1, that the benchmark is not suitablethat selected benchmark possess substantial risk for theis consumer, the supervised entity shallould warn the consumer in a writing with reasonsten form.
Amendment 716 #
2013/0314(COD)
Proposal for a regulation
Article 39 – paragraph 1
Article 39 – paragraph 1
1. An administrator natural or legal person providing a benchmark on [the date of entry into force of this Regulation] shall apply for authorisation or registration under Article 23 within [124 months after the date of application].