7 Amendments of Eva KAILI related to 2015/0009(COD)
Amendment 96 #
Proposal for a regulation
Recital 1
Recital 1
(1) The economic and financial crisis has led to a lowering of the level of investments within the Union. Investment has fallen by approximately 15% since its peak in 2007. The Union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints on Member States especially those most affected by the crisis. This lack of investment slows economic recovery and negatively affects job creation, long-term growth prospects and competitiveness.
Amendment 146 #
Proposal for a regulation
Recital 8
Recital 8
(8) The EFSI is part of a comprehensive approach to address uncertainty surrounding public and private investments. The strategy has three pillars: mobilising finance for investment, making investment reach the real economy and improving the investment environment in the Union. On 13 January 2015, the European Commission presented a Communication on how it will apply the existing rules of the Stability and Growth Pact in order to strengthen the link between structural reforms, investment and fiscal responsibility in support of jobs and growth. The Communication clarifies how three specific policy dimensions can be best taken into account in applying the rules. These relate to: (i) investment, in particular as regards to the establishment of a new European Fund for Strategic Investments as part of the Investment Plan for Europe, (ii) structural reforms; and (iii) cyclical conditions. Respecting the Pact, while making the best use of the flexibility which exists within its rules, was the focus of discussions of the June 2014 European Council and follows the commitment made in the Political Guidelines for the Commission.
Amendment 288 #
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should target projects with a higher risk-return profile than existing EIB and Union instruments to ensure additionality over existing operations. The EFSI should finance projects across the Union, includingespecially in the countries most affected by the economic and financial crisis. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 756 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
1. The EFSI Agreement shall provide that the EFSI shall be governed by a Steering Board, which shall determine the strategic orientation, the strategic asset allocation and operating policies and procedures, including the investment policy of projects that EFSI can support and the risk profile of the EFSI, in conformity with the objectives under Article 5(2). The Steering Board shall elect one of its members to be ChairpersonWhen establishing the investment policy and risk policy for the EFSI support, the Steering Board shall take into account the need to avoid an excessive concentration of projects within a given sector or geographical area. The Steering Board shall adopt guidelines for the use of the EU guarantee to be implemented by the Investment Committee. The investment guidelines shall be made publicly available. The Council and the European Parliament shall be informed about the content of the investment guidelines by the Chairperson of the Steering Board.
Amendment 941 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centresfor the priorities of the TEN-T networks as defined in the TEN-T Guidelines; transport investments should represent at least 33% of the total investments under EFSI; energy, in particular energy interconnections; and digital infrastructure;
Amendment 1031 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 2
Article 5 – paragraph 2 – subparagraph 2
In addition, the EU guarantee shall be granted for support of dedicated investment platforms and national promotional banks, via the EIB, that invest in operations meeting the requirements of this Regulation. In that case, the Steering Board shall specify policies regarding eligible investment platforms. EFSI shall support projects of a higher risk profile which address high investment needs and market failures and which could not have been carried out under existing EIB and Union instruments. Projects supported by EFSI should ensure additionality while contributing to the closing of investment gaps.
Amendment 1144 #
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 525%/30%/40% of the Union's total guarantee obligations.