Activities of Eleftherios SYNADINOS related to 2016/0274(COD)
Plenary speeches (1)
Guarantee Fund for external actions - EU guarantee to the European Investment Bank against losses under financing operations supporting investment projects outside the Union (debate) EL
Amendments (5)
Amendment 6 #
Proposal for a regulation
Recital 4
Recital 4
(4) The amount of the Guarantee Fund in surplus exceeding 10% of the Union's total outstanding capital liabilities should be paid back to the general budget of the Union in order to better protect the budget against potential additional risk of default of the EIB financing operations addressing root causes of migration.
Amendment 8 #
Proposal for a regulation
Recital 5
Recital 5
(5) The everyday financial management of the Guarantee Fund should not be transferred from the EIB to the Commission, which has an established practice of managing similar investments. By taking over the asset management of the Guarantee Fund, the Commission should be able to but remain in an independent arm of the EIB instead, which will be allowed to obtain further expertise and guidance from the Commission in so far as the latter has an established practice of managing similar investments. Due to the nature of the Guarantee Fund, streamlineing and consolidate itsing the fund with other asset management activities, building on existing structures and a good track record of the Commission should not take place as it does not adequately ensure that the aims of the Guarantee Fund are met.
Amendment 13 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EC, Euratom) No 480/2009
Article 7
Article 7
The Commission shall ensure theoversee the prudent financial management of the Fund. The Commission shall and maintain its focus on the political aims of the Fund. The EIB shall continue to manage and invest the resources of the Guarantee Fund in accordance with the principle of sound financial management and shall follow appropriate prudential rules.;
Amendment 16 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EC, Euratom) No 480/2009
Article 8 – paragraph 1
Article 8 – paragraph 1
By 31 March of each year, the CommissionEIB shall submit to the European Parliament, to the Council and to the Court of Auditors, in the context of the financial statements of the Commission,, the Commission and the Court of Auditors the required information on the situation of the Guarantee Fund.
Amendment 17 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EC, Euratom) No 480/2009
Article 8 – paragraph 2
Article 8 – paragraph 2
In addition, it shall, by 31 May of each year, submit to the European Parliament, to the Council, the Commission and to the Court of Auditors an annual report on the management of the Guarantee Fund in the previous calendar year. The annual report shall contain the presentation of the financial position of the Guarantee Fund at the end of the previous calendar year, the financial flows during the previous calendar year as well as the significant transactions and any relevant information on the financial accounts. The report shall also include information about the financial management and performance and the risk of the Guarantee Fund at the end of the previous calendar year.