30 Amendments of Jonás FERNÁNDEZ related to 2016/0276(COD)
Amendment 66 #
Proposal for a regulation
Recital 1
Recital 1
(1) Since the Investment Plan for Europe was presented in November 20143 , as part of a New Deal for Europe, the conditions for an uptake in investment have improved and confidence in Europe’s economy and growth are returning. The Union is now in its fourth year of moderate recovery, with Gross Domestic Product growing at 2% in 2015. The comprehensive efforts initiated with the Investment Plan are already delivering concrete results, despite the fact that macroeconomic effects of larger investment projects cannot be immediate. Investment is expected to pick up gradually throughout 2016 and 2017 although it remains below historical levels. _________________ 3 COM(2014) 903 final.
Amendment 73 #
Proposal for a regulation
Recital 2
Recital 2
(2) That positive momentum should be maintained and efforts need to be continued to bring investment back to its long-term sustainable trend. The mechanisms of the Investment Plan work and should be reinforced to continue the mobilisation of private investments in sectors important to Europe's future and where market failures or sub-optimal investment situations remain, in such a way as to generate a substantive macroeconomic impact and to generate jobs.
Amendment 95 #
Proposal for a regulation
Recital 6
Recital 6
(6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments. Given its success, the Commission is committed to the doubling of the EFSI, both in terms ofincreasing the EFSI’s financial capacity and extending its duration aind efinancial capacitely. The legal extension for the purposes of the guarantee provided by the Union budget covers the period of the current Multiannual Financial Framework and should provide a total of at least half a trillion euro investments by 2020. In order to enhance the firepower of the EFSI even further and reach the aim of doublmultiplying the investment target, Member States should also contribute as a matter of priority, with at least 1.0% of GDP.
Amendment 96 #
Proposal for a regulation
Recital 6
Recital 6
(6) The EFSI was established for an initial period of three years and with the aim of mobilising at least EUR 315 billion in investments. Given its success, the Commission is committed to the doubling of the EFSI, both in terms of duration and financial capacity. The legal extension covers the period of the current Multiannual Financial Framework and should provide a total of at least half a trillion euro investments by 2020. In order to enhance the firepower of the EFSI even further and reach the aim of doubling the investment target, Member States shouldwill also contribute as a matter of priority.
Amendment 109 #
Proposal for a regulation
Recital 8
Recital 8
(8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and aquaculture come within the general objectives eligible for EFSI support.
Amendment 115 #
Proposal for a regulation
Recital 8
Recital 8
(8) The extended EFSI should address remaining market failures and sub-optimal investment situations and continue to mobilise private sector financing in investments crucial for Europe’s future job creation – including for the youth –, growth and competitiveness with strengthened additionality. They include investments in the areas of energy, environment and climate action, social and human capital and related infrastructure, healthcare, research and innovation, cross- border and sustainable transport, as well as the digital transformation. In particular, the contribution of operations supported by the EFSI to achieving the Union's ambitious targets set at the Paris Climate Conference (COP21) should be reinforced. Energy interconnection priority projects and energy efficiency projects should also be increasingly targeted. In addition, EFSI support to motorways should be avoided, unless it is needed to support private investment in transport in cohesion countries or in cross-border transport projects involving at least one cohesion country. For reasons of clarity, although they are already eligible, it should be explicitly laid down that projects in the fields of agriculture, fishery and , aquaculture and other bioeconomy and bioindustry sectors come within the general objectives eligible for EFSI support.
Amendment 124 #
Proposal for a regulation
Recital 8 a (new)
Recital 8 a (new)
(8a) The EFSI may finance projects in the field of security and defence.
Amendment 126 #
Proposal for a regulation
Recital 8 b (new)
Recital 8 b (new)
(8b) The EFSI will support undertakings which take on more staff.
Amendment 134 #
Amendment 146 #
Proposal for a regulation
Recital 9 a (new)
Recital 9 a (new)
(9a) The EFSI and the EIB should provide ex ante advice to the Member States with a view to identifying potential projects.
Amendment 180 #
Proposal for a regulation
Recital 12
Recital 12
(12) For the fullnext investment period, the Union should provide a Union guarantee (the 'EU guarantee') which should not, at any time, exceed EUR 26 000 000 000 in order to enable the EFSI to support investments, of which a maximum of EUR 16 000 000 000 should be availablewill be no less than EUR 16 000 000 000 prior to 6 July 2018.
Amendment 184 #
Proposal for a regulation
Recital 13
Recital 13
(13) It is expected that when the EU guarantee is combined with the EUR 7 500 000 000 to be provided by the EIB, the EFSI support should generate EUR 100 000 000 000 additional investment by the EIB and EIF. The amount of EUR 100 000 000 000 supported by the EFSI is expected to generate at least EUR 500 000 000 000 of additional investment in the real economy by the end of 2020. Likewise, the contributions from Member States will generate an additional EUR 150 000 000 in order to guarantee or generate at least EUR 1 000 000 000 000 in investments beyond 2020.
Amendment 216 #
Proposal for a regulation
Recital 19
Recital 19
(19) The operations supported by the EFSI should adhere to the Union's principles of tax good governance, and consequently the EIB may not use accounts domiciled in non-cooperative jurisdictions, or work with entities operating in tax havens.
Amendment 239 #
Proposal for a regulation
Recital 21 a (new)
Recital 21 a (new)
(21a) Both the opportunities offered by the EFSI and its results should be publicised via radio, television, the internet, press and billboards.
Amendment 240 #
Proposal for a regulation
Recital 21 a (new)
Recital 21 a (new)
(21 a) An even higher risk profile should be accepted for research, development and innovation projects.
Amendment 242 #
Proposal for a regulation
Recital 21 b (new)
Recital 21 b (new)
(21 b) The European Central Bank has expressed its readiness to buy EFSI bonds if they are issued.
Amendment 243 #
Proposal for a regulation
Recital 21 b (new)
Recital 21 b (new)
(21b) The EFSI should be granted legal personality in order to boost its effectiveness.
Amendment 244 #
Proposal for a regulation
Recital 21 c (new)
Recital 21 c (new)
(21 c) The investment decisions shall take into account Member States, regions, and municipalities that suffer high unemployment levels or sudden increases in the unemployment rate.
Amendment 245 #
Proposal for a regulation
Recital 21 c (new)
Recital 21 c (new)
(21c) The EFSI should have unlimited duration.
Amendment 246 #
Proposal for a regulation
Recital 21 d (new)
Recital 21 d (new)
(21d) Member State contributions will be set in order to increase the EFSI’s financing capacity.
Amendment 247 #
Proposal for a regulation
Recital 21 e (new)
Recital 21 e (new)
(21e) Transnational, national and regional investment platforms should be better known, more flexible and more attractive for public and private investors, since among other advantages, the public capital disbursed does not count towards calculating the public deficit.
Amendment 250 #
Proposal for a regulation
Article 1 – paragraph 1 – point -1 (new)
Article 1 – paragraph 1 – point -1 (new)
Regulation (EU) No 2015/1017
Article 1 a (new)
Article 1 a (new)
(-1) The following Article 1a is inserted: ‘Article 1a Legal personality The EFSI shall have legal personality.’
Amendment 251 #
Proposal for a regulation
Article 1 – paragraph 1 – point -1 a (new)
Article 1 – paragraph 1 – point -1 a (new)
Regulation (EU) No 2015/1017
Article 1 b (new)
Article 1 b (new)
(-1a) The following Article 1b is inserted: ‘Article 1b Duration of the EFSI The EFSI shall be permanent.’
Amendment 252 #
Proposal for a regulation
Article 1 – paragraph 1 – point -1 b (new)
Article 1 – paragraph 1 – point -1 b (new)
Regulation (EU) No 2015/1017
Article 1 c (new)
Article 1 c (new)
(-1b) The following Article 1c is inserted: ‘Article 1c Issuing of bonds The EFSI may issue bonds directly in order to finance its operations.’
Amendment 275 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 2015/1017
Article 5 – paragraph 1 – subparagraph 3
Article 5 – paragraph 1 – subparagraph 3
To better address market failures or, sub- optimal investment situations and delays in the mobilisation of private capital, EIB special activities supported by the EFSI shall typically have features such as subordination, participation in risk-sharing instruments, cross-border characteristics, exposure to specific risks or other identifiable aspects as further described in Annex II.
Amendment 323 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a – point ii
Article 1 – paragraph 1 – point 4 – point a – point ii
Regulation (EU) No 2015/1017
Article 7 – paragraph 8 – point l
Article 7 – paragraph 8 – point l
l) agriculture, fishery and aquaculture and other bioeconomy and bioindustry sectors;
Amendment 351 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 2015/1017
Article 9 – paragraph 2 – point h
Article 9 – paragraph 2 – point h
h) agriculture, fishery and , aquaculture and other bioeconomy and bioindustry sectors;
Amendment 397 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 – point b
Article 1 – paragraph 1 – point 7 – point b
Regulation (EU) 2015/1017
Article 11 – paragraph 3
Article 11 – paragraph 3
3. Where the EIB provides funding or guarantees to the EIF in order to conduct EIB financing and investment operations, the EU guarantee shall provide for a full guarantee on such funding or guarantees provided that an amount of at least EUR 4 000 000 000 of funding or guarantees is provided by the EIB without coverage by the EU guarantee, up to an initial limit of EUR 6 500 000 000. Without prejudice to paragraph 1, that limit may where appropriate be adjusted by the Steering Board.
Amendment 441 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 a (new)
Article 1 – paragraph 1 – point 9 a (new)
Regulation (EU) No 2015/1017
Article 14 a (new)
Article 14 a (new)
(9 a) A new Article is inserted after paragraph 14: ‘Article 14 a Representation of national promotional banks at the EIAH All national promotional banks shall be represented at the EIAH.’
Amendment 474 #
Proposal for a regulation
Article 1 – paragraph 1 – point 13 a (new)
Article 1 – paragraph 1 – point 13 a (new)
Regulation (EU) No 2015/1017
Article 23 a (new)
Article 23 a (new)
(13a) A new Article is added: ‘Article 23a National contributions to the EFSI Member States shall contribute an amount equivalent to 0.1 per cent of their gross domestic product to the EFSI. This amount shall not be taken into account for the purposes of the Stability and Growth Pact.’