Activities of Bernd LUCKE related to 2015/0009(COD)
Plenary speeches (1)
European Fund for Strategic Investments (A8-0139/2015 - José Manuel Fernandes, Udo Bullmann) DE
Amendments (11)
Amendment 124 #
Proposal for a regulation
Recital 4
Recital 4
(4) Throughout the economic and financial crisis, the Union has made efforts to promote growth, in particular through initiatives set out in the Europe 2020 strategy that put in place an approach for smart, sustainable and inclusive growth. The European Investment Bank ('EIB') has also strengthened its role in instigating and promoting investment within the Union, partly by way of an increase in capital in January 2013. Further action is required to ensure that the investment needs of the Union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects.
Amendment 126 #
Proposal for a regulation
Recital 4
Recital 4
(4) Throughout the economic and financial crisis, the Union has made efforts to promote growth, in particular through the focus on the necessity of structural reforms and through initiatives set out in the Europe 2020 strategy that put in place an approach for smart, sustainable and inclusive growth. The European Investment Bank ('EIB') has also strengthened its role in instigating and promoting investment within the Union, partly by way of an increase in capital in January 2013. FurtherAlongside structural reforms, further specific and temporary action is required to ensure that the investment needs of the Union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects.
Amendment 178 #
Proposal for a regulation
Recital 10
Recital 10
(10) The purpose of the EFSI should be to help resolve the difficulties in financing and implementing productive investments in the Union and to ensure increased access to financing. It is intended that increased access to financing of profitable investment projects should be of particular benefit to small and medium enterprises. It is in the same degree also appropriate to extend the benefit of such increased access to financing to mid- cap companies, which are companies havingas well as other entities with up to 3000 employees. Overcoming Europe's current investment difficulties should contribute to strengthening the Union's competitiveness, growth potential and economic, social and territorial cohesion.
Amendment 271 #
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14a) The use of public money cannot be justified by mere assertions of market failure. Convincing evidence thereof should be provided as a precondition for any form of State aid.
Amendment 299 #
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should target projects withAdditionality over existing projects cannot be guaranteed by a higher risk- return profile than existing EIB. In fact, if State anid Union instruments to ensure additionality over existing operations. The EFSI should finance projects across the Union, including in the countries most affected by the financial crisis. The EFSI should only be used where financing is not available from other sources on reasonable termsis given for higher risk or lower return, this would set incentives to redesign existing projects as more risky or less profitable and thus render the allocation of capital less efficient.
Amendment 410 #
Proposal for a regulation
Recital 22
Recital 22
(22) In accordance with the Treaty on the Functioning of the European Union, Infrastructure and project investments supported under EFSI should be consistent with State aid rules. To that end, the Commission has announced that it will formulate a set of core principles, for the purpose of State aid assessments, which a project will have to meet to be eligible for support under the EFSI. If a project meets these criteria and receives support from the EFSI, the Commission has announced that any national complementary support, will be assessed under a simplified and accelerated State aid assessment whereby the only additional issue to be verified by the Commission will be the proportionality of public support (absence of overcompensation). The Commission has also announced that it will provide further guidance on the set of core principles with a view to ensuring an efficient use of public fundsExisting rules on State aid should apply to the EFSI without any change.
Amendment 412 #
Proposal for a regulation
Recital 23
Recital 23
Amendment 527 #
Proposal for a regulation
Recital 36
Recital 36
(36) SinceIt has yet to be shown that the objectives of this Regulation, namely to support investments in the Union and to ensure increased access to financing for companies having up to 3000 employees, cannot be sufficiently achieved by the Member States by reason of the disparities in their fiscal capacity to act but can rather, by reason of its scale and effects, be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle ofnd proportionality, as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve those objectives 5 of the Treaty on European Union,
Amendment 529 #
Proposal for a regulation
Recital 36 a (new)
Recital 36 a (new)
(36a) The Stability and Growth Pact represents the Member States' commitment to maintain or attain a sustainable debt path in the medium-term. At the same time, its rules remain disrespected or discretionarily applied until today, putting the commitment's credibility at stake. The broader application of the investment clause to Member States' contributions to the EFSI could further undermine the EUs promise of sustainable debt developments and should only be granted with the utmost scrutiny.
Amendment 545 #
Proposal for a regulation
Article 1 – paragraph 1 – subparagraph 1
Article 1 – paragraph 1 – subparagraph 1
The Commission shall conclude annegotiate a draft agreement with the European Investment Bank (EIB) on the establishment of a temporary European Fund for Strategic Investments ('EFSI'). The EFSI Agreement shall be approved by the co- legislators, prior to the entry into force of this Regulation so as to ensure that the EFSI Agreement provides for the proper implementation of the Regulation. (This amendment applies throughout the text. Adopting it will necessitate corresponding changes throughout.)
Amendment 891 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
The Union shall provide a guarantee to the EIB for financing or investment operations carried out within the Union in accordance with State aid rules covered by this Regulation ('EU guarantee'). The EU guarantee shall be granted as a guarantee on demand in respect of instruments referred to in Article 6.