14 Amendments of Harald VILIMSKY related to 2015/0005(COD)
Amendment 2 #
Proposal for a decision
Recital 3
Recital 3
(3) The violation of Ukraine's sovereignty and territorial integrity and the resulting military conflict haves had damaging effects on Ukraine's already precarious economic and financial stability. Ukraine is facing a difficult balance of payments and liquidity position linked to receding confidence and concomitant capital flight, as well as a worsening fiscal situation as a result of the direct budgetary cost of the conflict, a deeper than expected recession and the loss of fiscal revenues from the areas controlled by the separatists. At the same time, pre- existing structural weaknesses and budgetary and external- financial vulnerabilities have also contributed to the deterioration of the economic situation.
Amendment 4 #
Proposal for a decision
Recital 10
Recital 10
(10) Given thatThough Ukraine is a country covered by the ENP, it should be considered to be eligible to receive the Union's macro-financial assistancmust be ensured that the funds offered can also be used there. Particularly in the light of the conflicts in eastern Ukraine, it is doubtful whether the country remains as eligible as it was when the initial ENP evaluation was made.
Amendment 5 #
Proposal for a decision
Recital 11
Recital 11
(11) Given that there is still a significant residual external financing gap in Ukraine's balance of payments over and above the resources provided by IMF and other multilateral institutions, the Union macro- financial assistance to be provided to Ukraine ("the Union's macro-financial assistance") is, under the current exceptional circumstances, considered to be an appropriate response to Ukraine's request to support economic stabilisation in conjunction with the IMF programme. The Union's macro-financial assistance would support the economic stabilisation and the structural reform agenda of Ukraine in the medium term only, supplementing resources made available under the IMF's financial arrangement.
Amendment 10 #
Proposal for a decision
Recital 17
Recital 17
(17) A pre-condition for granting the Union's macro-financial assistance shouldmust be that Ukraine respecttablishes effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees respect for human rights. In addition, the specific objectives of the Union's macro-financial assistance shouldmust strengthen the efficiency, transparency and accountability of the public finance management systems in Ukraine and to promote structural reforms aimed at supporting sustainable and inclusive growth, employment creation and fiscal consolidation. Both fulfilment of the preconditions and the achievement of those objectives should be regularly monitored by the Commission and the European External Action Service.
Amendment 12 #
Proposal for a decision
Recital 18
Recital 18
(18) In order to ensure that the Union’s financial interests linked to the Union’s macro-financial assistance are protected efficiently, Ukraine shouldmust take appropriate measures relating to the prevention of, and fight against, fraud, corruption and any other irregularities linked to the assistance. In addition, provision shouldin the light of the fact that the support package will amount to at least EUR 11 billion for the period 2014-2020, provision must be made for the Commission to carry out checks and for the Court of Auditors to carry out audits.
Amendment 16 #
Proposal for a decision
Recital 21
Recital 21
(21) The Union's macro-financial assistance shouldmust be managed by the Commission. In order to ensure that the European Parliament and the Council are able to follow the implementation of this Decision, the Commission shouldmust regularly inform them of developments relating to the assistance and provide them with relevant documents.
Amendment 18 #
Proposal for a decision
Recital 23
Recital 23
(23) The Union's macro-financial assistance shouldmust be subject to economic policy conditions, to be laid down in a Memorandum of Understanding. In order to ensure uniform conditions of implementation and for reasons of efficiency, the Commission should be empowered to negotiate such conditions with the Ukrainian authorities under the supervision of the committee of representatives of the Member States in accordance with Regulation (EU) No 182/2011. Under that Regulation, the advisory procedure should, as a general rule, apply in all cases other than as provided for in that Regulation. Considering the potentially important impact of assistance of more than EUR 90 million, it is appropriate that the examination procedure must be used for operations above that threshold. Considering the amount of the Union's macro-financial assistance to Ukraine, the examination procedure shouldmust apply to the adoption of the Memorandum of Understanding, and to any reduction, suspension or cancellation of the assistance,
Amendment 19 #
Proposal for a decision
Recital 23
Recital 23
(23) The Union's macro-financial assistance should be subject to economic policy conditions, to be laid down in a Memorandum of Understanding. In order to ensure uniform conditions of implementation and for reasons of efficiency, the Commission should be empowered to negotiate such conditions with the Ukrainian authorities under the supervision of the committee of representatives of the Member States in accordance with Regulation (EU) No 182/2011. Under that Regulation, the advisory procedure should, as a general rule, apply in all cases other than as provided for in that Regulation. Considering the potentially important impact of assistance of more than EUR 90 million, it is appropriate that the examination procedure be used for operations above that threshold. Considering the amount of the Union's macro-financial assistance to Ukraine, the examination procedure shouldmust apply to the adoption of the Memorandum of Understanding, and to any reduction, suspension or cancellation of the assistance,
Amendment 24 #
Proposal for a decision
Article 1 – paragraph 5
Article 1 – paragraph 5
5. Where the financing needs of Ukraine decrease fundamentally during the period of the disbursement of the Union's macro- financial assistance, compared to the initial projections, the Commission, acting in accordance with the examination procedure referred to in Article 7(2), shall redususpend or cancel the amount of the assistance or suspend or cancel it. ssistance. Should Ukraine's financing needs be greater, an increase in financial assistance shall not be permitted under any circumstances.
Amendment 27 #
Proposal for a decision
Article 2 – paragraph 1
Article 2 – paragraph 1
1. A pre-condition for granting the Union's macro financial assistance shall be that Ukraine respectensures effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees respect for human rights.
Amendment 32 #
Proposal for a decision
Article 3 – paragraph 4
Article 3 – paragraph 4
4. The Commission shall verify at regular intervals that the conditions in Article 4(3) continue to be met, including whether the economic policies of Ukraine are in accordance with the objectives of the Union's macro-financial assistance. In so doing, the Commission shall coordinate closely with the IMF and, the World Bank, and, where necessary, with the European Parliament and the Council.
Amendment 33 #
Proposal for a decision
Article 4 – paragraph 3 – subparagraph 1 – introductory part
Article 4 – paragraph 3 – subparagraph 1 – introductory part
The Commission shall decide on the release of theeach individual instalments subject to the fulfilment of all of the following conditions:
Amendment 36 #
Proposal for a decision
Article 5 – paragraph 2
Article 5 – paragraph 2
2. Where the circumstances permit, and if Ukraine so requests, tThe Commission mayshall take the steps necessary to ensure that an early repayment clause is included in the loan terms and conditions and that it is matched by a corresponding clause in the terms and conditions of the borrowing operations.
Amendment 38 #
Proposal for a decision
Article 5 – paragraph 3
Article 5 – paragraph 3
3. Where circumstances permit an improvement of the interest rate of the loan and if Ukraine so requests, the Commission may decide to refinance all or part of its initial borrowings or may restructure the corresponding financial conditions. Refinancing or restructuring operations shall be carried out in accordance with paragraphs 1 and 4 and shall not have the effect of extending the maturity of the borrowings concerned or of increasing the amount of capital outstanding at the date of the refinancing or restructuring.