14 Amendments of Edouard MARTIN related to 2015/0009(COD)
Amendment 55 #
Proposal for a regulation
Recital 2
Recital 2
(2) Comprehensive action is required to reverse the vicious circle created by a lack of investment. Structural reforms and fiscal responsibility are necessary preconditions for stimulating investment. Along with a renewed impetus towards investment financing, these preconditions can contribute to establishing a virtuous circle, whereThe restoration of public accounts will not be possible without support for the activities and investment projectss that help support employment and demand and lead to a sustained increase in growth potential.
Amendment 82 #
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 should be of particular benefit to small and medium enterprises. It iswould also be appropriate, if resources permit, to extend the benefit of such increased access to financing to mid- cap companies, which are companies having up to 3000 employees. Overcoming Europe’s current investment difficulties should contribute to strengthening the Union’s economic, social and territorial cohesion.
Amendment 124 #
Proposal for a regulation
Recital 14
Recital 14
(14) The EFSI should target projects delivering high societal and economic value. If public funds are used as a catalyst for the EFSI, it is logical and necessary that the projects supported in this way should benefit not only those who have funded the project directly but also the local community (whether in terms of jobs, the environment or town and country planning). In particular, the EFSI should target projects that promote job creation, long- term growth and competitiveness. The EFSI should support a wide range of financial products, including equity, debt or guarantees, to best accommodate the needs of the individual project. This wide range of products should allow the EFSI to adapt to market needs whilst encouraging private investment in the projects. The EFSI should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money. The requirement for consistency with State aid principles should contribute to such effective and strategic use.
Amendment 150 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) In order to avert unexpected drawbacks, a warning mechanism starting at grassroots level should be put in place to flag up any abuses. The EESC and the Committee of the Regions could be excellent intermediaries in these circumstances in obtaining reports from employees and local authorities respectively.
Amendment 197 #
Proposal for a regulation
Recital 28
Recital 28
(28) The guarantee fund is intended to provide a liquidity cushion for the Union budget against losses incurred by the EFSI in pursuit of its objectives. Experience on the nature of investments to be supported by the EFSI indicates that a ratio of 530% between the payments from the Union budget and from the Union’s total guarantee obligations would be adequate.
Amendment 206 #
Proposal for a regulation
Recital 29
Recital 29
Amendment 308 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3
Article 3 – paragraph 3 – subparagraph 3
No decision of the Steering Board shall be adopted if the Commission or the EIB, the EIB or the European Parliament votes against it.
Amendment 324 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of six independent experts and the Managing Director. Independent experts shall have a high level of relevant market experience in project finance and in one or more sectors listed in Article 5(2) of this Regulation; they shall be appointed by the Steering Board for a renewable fixed term of three years.
Amendment 344 #
Proposal for a regulation
Article 5 – paragraph 2 – introductory part
Article 5 – paragraph 2 – introductory part
The EU guarantee shall be granted for EIB financing and investment operations approved by the Investment Committee referred to in Article 3(5) or funding to the EIF in order to conduct EIB financing and investment operations in accordance with Article 7(2). The operations concerned shall be consistent with Union policies and support any of the following general objectives, and shall be prioritised in terms of their positive externalities (i.e. not only a return on investment for the project funder, but also job creation and more generally the benefits for the social and geographical areas in which the funder operates):
Amendment 409 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d
Article 5 – paragraph 2 – subparagraph 1 – point d
(d) infrastructure projects in the environmental, natural resources, and urban development and social fields;
Amendment 412 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point d a (new)
Article 5 – paragraph 2 – subparagraph 1 – point d a (new)
(da) the social policy field, particularly the urban dimension, social housing, the reception of migrants and housing for marginalised communities;
Amendment 455 #
Proposal for a regulation
Article 8 – paragraph 5 – subparagraph 1
Article 8 – paragraph 5 – subparagraph 1
Endowments to the guarantee fund referred to in paragraph 2 shall be used to reach an appropriate level to reflect the total EU guarantee obligations ('target amount'). The target amount shall be set at 530% of the Union's total guarantee obligations.
Amendment 465 #
Proposal for a regulation
Article 8 – paragraph 8
Article 8 – paragraph 8
8. From 1 January 2019, if as a result of calls on the guarantee, the level of the guarantee fund falls below 530% of the target amount, the Commission shall submit a report on exceptional measures that may be required to replenish it.
Amendment 495 #
Proposal for a regulation
Article 11 a (new)
Article 11 a (new)