BETA

108 Amendments of Martin SCHIRDEWAN related to 2023/0138(COD)

Amendment 142 #
Proposal for a regulation
The European Parliament rejects the Commission proposal.
2023/10/26
Committee: ECON
Amendment 145 #
Proposal for a regulation
Recital 1 a (new)
(1 a) The review of economic governance should not lead to a set of transitionary band-aid measures that perpetuate the flaws of the current model while being unable to cope with the challenges ahead. It should instead give birth to a framework that enhances social progress and convergence and fosters the ecological transition. The EU economic governance should aim at eradicating poverty and inequalities, provide a high- level of social protection, qualitative public services, individual and collective well-being through the fulfillment of essential needs of all citizens; and ecological planification.
2023/10/26
Committee: ECON
Amendment 146 #
Proposal for a regulation
Recital 1 a (new)
(1 a) The Global Financial Crisis and the following Sovereign Debts Crisis revealed the economic and political risks of EU lacking a lender-of-last-resort that can support Member States in times of crisis and impede a further fragmentation of the Euro Area.
2023/10/26
Committee: ECON
Amendment 147 #
Proposal for a regulation
Recital 1 b (new)
(1 b) The Intergovernmental Panel on Climate Change warns that the window of opportunity to secure a liveable and sustainable future for all is rapidly closing and calls for urgent near-term integrated climate action 1a; the transgression of six out of nine planetary boundaries suggests that Earth is now well outside of the safe operating space for humanity ; all EU and Member States' efforts should be directed towards the radical transformation of production and consumption patterns to secure a liveable future for all. Any revised EU economic governance framework that may result in hindering, lowering the ambition of, or delaying investments in a fair and ecological transition by putting a cap on investments or conditioning them to the achievement of arbitrary and misguided fiscal targets or macroeconomic stability would be disconnected from scientific reality and completely unfit to address the challenges ahead. _________________ 1a IPCC, 2023: Summary for Policymakers. In: Climate Change 2023: Synthesis Report. Contribution of Working Groups I, II and III to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change [Core Writing Team, H. Lee and J. Romero (eds.)]. IPCC, Geneva, Switzerland, pp. 1-34, doi: 10.59327/IPCC/AR6-9789291691647.001 https://www.ipcc.ch/report/ar6/syr/downlo ads/report/IPCC_AR6_SYR_SPM.pdf
2023/10/26
Committee: ECON
Amendment 148 #
Proposal for a regulation
Recital 2
(2) The Stability and Growth Pact (SGP), which initially consisted of Council Regulation (EC) No 1466/9719 , Council Regulation (EC) No 1467/97 of 7 July 199720 and the Resolution of the European Council of 17 June 1997 on the Stability and Growth Pact21 , is based on the objective of sound and sustainable government finances as a means of strengthening the conditions for price stability and for strong sustainable growth underpinned by financial stability, thereby supporting the achievement of the Union’s objectives for. Such framework failed in promoting full employment sustainable and inclusive growth, and employment. _________________ 19 Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies (OJ L 209, 2.8.1997, p. 1). 20 Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure (OJ L 209, 2.8.1997, p. 6). 21 Resolution of the European Council on the Stability and Growth Pact Amsterdam, 17 June 1997 (OJ C 236, 2.8.1997, p. 1)overall macroeconomic convergence between Member States.
2023/10/26
Committee: ECON
Amendment 149 #
Proposal for a regulation
Recital 2 a (new)
(2 a) The limits of 3% and 60% of GDP for government deficit and public debt, respectively, lack a sound economic justification. Evidence shows the compliance by Member States with such rules is unrealistic, this is especially clear regarding the public debt threshold.
2023/10/26
Committee: ECON
Amendment 150 #
Proposal for a regulation
Recital 2 b (new)
(2 b) The Commission recognizes the large amount of public and private investment to accomplish the EU’s climate goals and the even higher when referring to the climate goals set in the Paris Agreement. However, evidence shows that EU net public investment as a proportion of GDP has not fully recovered since its sharp fall after the financial crisis, especially serious in Southern Europe, due to fiscal consolidation pressure under the former EU economic governance rules. Moreover, recent independent studies show that the current Commission’s proposal fails to guarantee sufficient fiscal capacity to Member States to promote the investment needed to promote climate transition and conversion.
2023/10/26
Committee: ECON
Amendment 151 #
Proposal for a regulation
Recital 2 c (new)
(2 c) EU's past experience showed the limits of fiscal consolidation in promoting sustainable public finances and promoting full-employment. Recently, the IMF published evidence that, on average, fiscal consolidation does not reduce debt- to-GDP ratio. Moreover, the so-called Troika programs failed to accomplish their own economic goals and accentuated the economic downturn.
2023/10/26
Committee: ECON
Amendment 154 #
Proposal for a regulation
Recital 4
(4) The involvement of social partnernational parliaments, representatives of workers' associations, civil society organisations and other relevant stakeholders in the European SemesterSocial and Environmental Guidelines is key to ensure ownership and, transparent and inclusive policy-making.
2023/10/26
Committee: ECON
Amendment 155 #
Proposal for a regulation
Recital 4
(4) The involvement of the European Parliament, national parliaments, social partners, civil society organisations and other relevant stakeholders in the European Semester is key to ensure ownership and transparent and inclusive policy-making.
2023/10/26
Committee: ECON
Amendment 166 #
Proposal for a regulation
Recital 5 a (new)
(5 a) Fiscal rules have incentivized governments of the Member States to carry out fiscal adjustments detrimental to long-term investments, contributing to a drop of total public investment as share of GDP during the decade 2011-2020 following the financial crisis. Public investment is crucial to guarantee a high level of citizens’ well-being, address existing and new social needs and foster the transition to a fair and sustainable economy. At the scale of the EU the additional investments needed in the decarbonation of the economy, in social infrastructures such as health, education, social housing and in the maintenance of public infrastructures amount to at least 520 billion euros, 142 billion euros, and 190 billion euros per year respectively, the majority of which should come from public sources to support a fair a democratic transition.
2023/10/26
Committee: ECON
Amendment 169 #
Proposal for a regulation
Recital 5 b (new)
(5 b) Backloading of investments and failure to mitigate and adapt to climate change fast enough will not only have catastrophic human consequences but will also be much more costly in sheer economic terms, hence contradicting the very purpose of the fiscal rules to support sound public finances.
2023/10/26
Committee: ECON
Amendment 170 #
Proposal for a regulation
Recital 5 c (new)
(5 c) The proposed fiscal rules would result in practice in a cap on investments ; analyses show that only four countries in the EU would be able to comply with the fiscal framework while at the same time making enough investments to achieve their Paris Agreement targets1a and that, absent any new investment in climate, expenses due to demographic ageing and the tightening of financing conditions will already cause most countries to be over the required debt and deficit ratios.2a _________________ 1a New Economics Foundation, New EU fiscal rules jeopardise investments needed to combat climate crisis, 31 August 2023 https://neweconomics.org/2023/08/new- eu-fiscal-rules-jeopardise-investment- needed-to-combat-climate-change 2a Dezernat Zukunft, Introductory statement at the Committee on Economic and Monetary Affairs of the European Parliament Public Hearing, 30 November 2022 https://www.dezernatzukunft.org/wp- content/uploads/2022/12/Introductory- statement-PSG-SENT-2.pdf
2023/10/26
Committee: ECON
Amendment 172 #
Proposal for a regulation
Recital 6
(6) The economic governance framework of the Union should put debt sustainability and sustainable and inclusive growth at its core and therefore differentiate between Member States by taking into account their public debt challenges and allowing country-specific fiscal trajectorifull- employment and the achievement of the climate goals set in the Paris Agreement as well as in the European Pillar of Social Rights at its core and therefore differentiate between Member States by taking into account their country-specific challenges. This framework should allow a true ownership and democratic scrutiny of such choices.
2023/10/26
Committee: ECON
Amendment 173 #
Proposal for a regulation
Recital 6
(6) The economic governance framework of the Union should put debt sustainability and sustainable and inclusive growth at its core and therefore differentiate between Member States by taking into account their public debt challenges and allowing country-specificthe transformation towards a fair, democratic, need-based, and ecologically sustainable economic system at its core and therefore get rid of its emphasis on public debt and fiscal trajectoriesy.
2023/10/26
Committee: ECON
Amendment 197 #
Proposal for a regulation
Recital 9 a (new)
(9 a) Instead of promoting budgetary cuts and harmful structural reforms in the name of debt reduction, the EU economic governance should establish a framework that favours and facilitates the collection by Member States and at EU level of additional resources through fair taxation, in particular taxes on the wealthiest and multinational companies, in particular on windfall profits; taxes on ecologically harmful products and services; the cancellation of ineffective and unfair tax and social contributions exemptions; the fight against tax dodging and tax evasion of rich individuals and multinational companies.
2023/10/26
Committee: ECON
Amendment 203 #
Proposal for a regulation
Recital 11
(11) The presentation of the national medium-term fiscal-structural plan should band the preceded by a technical dialogue with the Commission to ensure compliance with the provisions of this Regulation. On the basis of a recommendation from the Commission, the Council should set the net expenditure path and endorse the reform and investment commitments, including those taken for the possible extension of the adjustment period, as appropriateference trajectory should be approved in the national parliament of the Member State concerned, in line with its national rules and traditions. These plans and trajectories may be revised in case a new government takes power.
2023/10/26
Committee: ECON
Amendment 208 #
Proposal for a regulation
Recital 12
(12) In order to simplify the Union fiscal framework and increase transparency, a single operational indicapromote national ownership, Member States should be responsible for presenting their own reference trajectory anchored in debt sustainability should serve as a basis for setting the fiscal path and carrying out annual fiscd the correspondent national medium-term fiscal-structural plan. Such trajectory should treat on an equal footing the goals of achieving full-employment and the climate goals surveillance for each Member State. That single operational indicator should be based on nationally financed net primary expenditure, that is to say expenditure net of discretionary revenue measures and excluding interest expenditure as well as cyclical unemployment expenditure and expenditure on Union programmes fully matched by revenue from Union funds. This indicator allows for macro-economic et in the Paris Agreement, as well as promoting the sustainability of public debt and primary deficit. Moreover, due to the recognized public investment needs, as well as other urgent expenditures to promote energy transition, a safeguard should be estabilisation as it is not affected by the operation of automatic stabilisers, including revenue and expenditure fluctuations outside the direct control of the governmenthed to guarantee that this type of expenditure does not account for the primary deficit of each Member State.
2023/10/26
Committee: ECON
Amendment 215 #
Proposal for a regulation
Recital 13
(13) To provide guidance to the Member States in the drafting of their medium-term fiscal-structural plan, the Commission should put forward a technical trajectory based on the minimum fiscal adjustment that brings the debt trajectory of the Member State on a plausibly downward path or maintains debt at a prudent level. It should also ensure that the public debt ratio at the end of the planning horizon declines below its level in the year before the start of the technical trajectory. The sustainability of that debt reduction should result from appropriate fiscal policies.deleted
2023/10/26
Committee: ECON
Amendment 224 #
Proposal for a regulation
Recital 13 a (new)
(13 a) The IMF, long-time supporter of austerity and structural adjustments, acknowledges that fiscal consolidation is not effective, on average, at lowering debt-to-GDPs ratios.
2023/10/26
Committee: ECON
Amendment 225 #
Proposal for a regulation
Recital 13 b (new)
(13 b) In addition to being dependent on arbitrary assumptions over 14 to 17 years in the future, including policy-based assumptions, the Debt Sustainability Analysis underpinning the technical trajectory relies on an outdated macroeconomic model that does not acknowledge the embeddedness of economic activities in the biosphere, and therefore does not take into account their increasing exposure to climate change, resource scarcity, environmental degradation and natural disasters in the future. This highly problematic feature of the DSA will lead to misguided perceptions of economic risks and misguided economic projections that will in turn influence the whole economic governance.
2023/10/26
Committee: ECON
Amendment 227 #
Proposal for a regulation
Recital 14
(14) The technical trajectory put forward by the Commission should also ensure that the government deficit is brought and maintained below the 3% of gross domestic product (GDP) reference value.deleted
2023/10/26
Committee: ECON
Amendment 231 #
Proposal for a regulation
Recital 15
(15) In order to assess whether further adjustments are required towards the end of the four-year implementation period of the national medium-term fiscal- structural plan, the Commission should reassess the situation and put forward a new technical trajectory if the public debt of the Member State is still above 60% of GDP reference value or its government deficit is higher than 3% of GDP reference value.deleted
2023/10/26
Committee: ECON
Amendment 236 #
Proposal for a regulation
Recital 15 a (new)
(15 a) Debt sustainability depends on many factors beyond the mere quantitative debt-to-GDP ratio and financial markets are less concerned by the debt stock than the overall resilience and strength of a country’s economy. Anticipation of negative reactions from markets to high debt ratios should not be used to legitimate the perpetuation of arbitrary debt targets and their usual corollary : budget cuts, under-financing of public services and unfair structural and reforms weakening social protection and workers' rights.
2023/10/26
Committee: ECON
Amendment 238 #
Proposal for a regulation
Recital 16
(16) EachThe national medium-term fiscal- structural plan should mention its status in the context of national procedures, notably whether the plan was presented to the national parliament and whether there has been parliamentary approval of the plan. Tparliament of the Member State concerned should approve the reference trajectory presented and the national medium-term fiscal- structural plan should also indicate whether the national parliament had the opportunity to discuss the Council recommendation on the previous plan and, if relevant, any other Council recommendation or decision, or any Commission warningin accordance with its national rules and traditions. Moreover, further exchanges should also require parliamentary approval.
2023/10/26
Committee: ECON
Amendment 246 #
Proposal for a regulation
Recital 18
(18) Since Member States could face additional costs at the end of their medium-term fiscal-structural plan such as ageing costs or an unfavourable interest-growth differential, they should ensure that the headline balance at the end of the adjustment period will be sufficient to ensure that the deficit durably stays below the 3% of GDP reference value.deleted
2023/10/26
Committee: ECON
Amendment 248 #
Proposal for a regulation
Recital 18 a (new)
(18 a) Key interest rates have reached unprecedented levels since the creation of the euro zone and are foreseen to remain at a high level, increasing debt servicing while having no effect on jugulating an inflation that originates primarily from the rise in companies’ profit margins, as acknowledged by the ECB and the IMF.
2023/10/26
Committee: ECON
Amendment 254 #
Proposal for a regulation
Recital 21
(21) In order to ensure the implementation of the medium-term fiscal-structural plans, the Commission and the Council should monitor the reform and investment commitments made in these plans under the European Semester, based on the annual progress reports submitted by the Member States, and in accordance with the provisions of Articles 121 and 148 TFEU. To that effect, they should engage in a European Semester dialogue with the European Parliament.deleted
2023/10/26
Committee: ECON
Amendment 258 #
Proposal for a regulation
Recital 22
(22) To ensure a more gradual debt reduction, the adjustmenthe implementation period can be extended by a maximum of 3 years if the Member State underpins its medium-term fiscal-structural plan with a set of verifiable and time-bound reforms and investment that, taken altogether: are growth-enhancing, support fiscalpromote full-employment and reduce poverty; help to achieve the climate goals set in the Paris Agreement and the necessary green energy transition; promote debt and deficit sustainability,; address the common priorities of the Union,; address relevant country-specific recommendations addrethe social and environmental guidelines issued toby the Member State under the European Semester, and address the country-specific investment priorities without leading to cuts in oCommission; ensure that the overall level of nationally financed public investment over the lifetime of ther nationally financed public investment over the adjustment period in order to ensure a macroeconomic impact of investments and avoid crowding out of other investment priorities medium-term fiscal-structural plan, as a share of GDP, is higher than the medium-term level before the period of that plan; comply with the do no significant harm principle; guarantee universal access to basic public services; guarantee added value to the national economy.
2023/10/26
Committee: ECON
Amendment 264 #
Proposal for a regulation
Recital 23 a (new)
(23 a) High inflation is hitting people head on, with half of Europeans in deprivation from health, heating, and/or food over the last six months; the reintroduction of the fiscal rules and the subsequent return of austerity would only make this situation worse. The required fiscal adjustment would amount on average to more than 2% of GDP in the medium-term and be equivalent to 30 billion euros per year over 4 years.3a Not only is this debt reduction path totally irrealistic but would it also have terrible social consequences due to excessive and brutal contraction of the economy, decline in social spending, deterioration of public services and structural reforms weakening workers' rights and social protection in line with the general orientation of the EU economic governance so far. _________________ 3a Darvas, Z., L. Welslau and J. Zettelmeyer (2023) ‘A quantitative evaluation of the European Commission´s fiscal governance proposal’, Working Paper 16/2023, Bruegel https://www.bruegel.org/sites/default/files/ 2023-09/WP%2016_3.pdf
2023/10/26
Committee: ECON
Amendment 273 #
Proposal for a regulation
Recital 27
(27) Independent fiscal institutions should have a proven their capacity to foster fiscal discipline and strengthen thluralistic and multidisciplinary board, where minority views have credibility of Member States’ public finances. Ipresentation as well as workers' associations, in order to truly enhance national ownership, the role of. Moreover, when requested by the Member State concerned, such independent fiscal institutions, traditionally mandated to monitor compliance with the national framework, should be expanded to the economic governance framework of the Union should be responsible to produce the forecasts and the impact assessments needed to the budgetary practices.
2023/10/26
Committee: ECON
Amendment 283 #
Proposal for a regulation
Recital 29
(29) Particular attention should be given to significant risks of divergences of budgetary positions from the net expenditure path set by the Council. Therefore it is appropriate to complement the multilateral surveillance procedure set out in Article 121(3) and (4) TFEU with an early warning system whereby the Commission pursuant to Article 121(4) TFEU alerts a Member State at an early stage about the need to take the necessary budgetary corrective action in order to prevent its government deficit becoming excessive. Moreover, in the event of persistent budgetary slippage the Council should reinforce its recommendation and make it public.deleted
2023/10/26
Committee: ECON
Amendment 284 #
Proposal for a regulation
Recital 30
(30) In case of major shocks tofor the Member State concerned or in the euro area or the Union as a whole, it is necessary to have a general escape clause to be able to deal with a severen economic downturn in the euro area or the Union as a whole by allowing for a deviation from the net expenditure path provided that it does not endanger fiscal sustainability in the medium termby allowing for a deviation from the reference trajectory.
2023/10/26
Committee: ECON
Amendment 294 #
Proposal for a regulation
Recital 32
(32) This Regulation is part of a package together with Council Directive [XXX amending 2011/85/EU] and Council Regulation [XXX amending Council Regulation (EC) No 1467/97]. Together, they establish a reformed Union economic governance framework that incorporates into Union law the substance of Title III ‘Fiscal Compact’ of the Treaty on Stability, Coordination and Governance (TSCG) in the Economic and Monetary Union27 , in accordance with Article 16 thereof. By building on the experience with the implementation of the TSCG by the Member States, the proposed legislative package retains the Fiscal Compact’s medium-term orientation as a tool to achieve budgetary discipline and growth promotion. The package includes a strengthened country- specific dimension aimed at enhancing national ownership, including by means of a stronger role for Independent Fiscal Institutions, which draws essentially on the Fiscal Compact’s common principles proposed by the Commission28 in accordance with Article 3(2) of the TSCG. The analysis of expenditure net of discretionary revenue measures for the overall assessment of compliance required by the Fiscal Compact is set out in this Regulation. As in the Fiscal Compact, temporary deviations from the medium-term plan are allowed only in exceptional circumstances in this Regulation. In a similar vein to the Fiscal Compact, in case of significant deviations from the medium-term plan, measures should be implemented to correct the deviations over a defined period of time. The package strengthens fiscal surveillance and enforcement procedures to deliver on the commitment of promoting sound and sustainable public finances and sustainable and inclusive growth. The economic governance framework reform, thus, retains the fundamental objectives of budgetary discipline and debt sustainability set out in the TSCG. _________________ 27 Treaty on Stability, Coordination and Governance in the Economic and Monetary Union of 2 March 2012. 28 Communication COM(2012) 342 final of 20 June 2012 from the Commission ‘Common principles on national fiscal correction mechanismsMember States being the ones deciding on their fiscal choices and requiring its parliamentary approval.
2023/10/26
Committee: ECON
Amendment 299 #
Proposal for a regulation
Article 1 – paragraph 1
This Regulation sets out rules ensuring effective coordination of economic policies of the Member Statesand strategic investments of the Member States under close democratic scrutiny, thereby supporting the achievefullfilment of the Union’s objectives for growth and employmentcitizens' essential needs, a high-level of social protection and well-being for all, reduction of inequalities and ecological planification.
2023/10/26
Committee: ECON
Amendment 309 #
Proposal for a regulation
Article 1 – paragraph 2
It lays down detailed rules concerning the content, submission, assessment and monitoring of national medium-term fiscal-structural plans as part of multilateral budgetary surveillance by the Council and the Commission so as to promote debt sustainability and sustainable and inclusive growth in the Member States and prevent the occurrence of excessive government deficitplans under close democratic scrutiny so as to promote the fulfillment of citizens' essential needs, a high-level of social protection and well-being for all, reduction of inequalities and ecological planification in the Member States, by medium-term planning.
2023/10/26
Committee: ECON
Amendment 314 #
Proposal for a regulation
Article 1 – paragraph 2 a (new)
The 3% deficit-to-GDP and 60% debt-to- GDP threshold are no longer targets to be reached nor pursued in the framework of the EU economic governance.
2023/10/26
Committee: ECON
Amendment 365 #
Proposal for a regulation
Article 3 – title
The European SemesterSocial and Environmental Guidelines
2023/10/26
Committee: ECON
Amendment 366 #
Proposal for a regulation
Article 3 – paragraph 1
In order to ensure closer coordination of economic policies and sustained convergence of the economic, employment, environmental and social performance of the Member States, the Council and the Commission shall conduct multilateral surveillance within the European Semester in accordance with the objectives and requirements set out in the TFEU. Multilateral surveillance shall rely on high quality and independent statistics, produced in accordance with the principles laid down in Regulation (EC) No 223/2009 of the European Parliament and of the Councilmmission shall issue social and environmental guidelines and evaluate their applicability.
2023/10/26
Committee: ECON
Amendment 378 #
Proposal for a regulation
Article 3 – paragraph 2 – introductory part
The European Semester shall includguidelines shall detail measures on how to promote:
2023/10/26
Committee: ECON
Amendment 379 #
Proposal for a regulation
Article 3 – paragraph 2 – point a
(a) the formulation, and the surveillance of the implementcreation, of the broad guidelines for the economic policies of the Member States and of the Union in accordance with Article 121(2) TFEU, of country-specific recommendations and of the recommendation on the economic policy of the euro areaquality jobs and traineeships;
2023/10/26
Committee: ECON
Amendment 382 #
Proposal for a regulation
Article 3 – paragraph 2 – point b
(b) the formulation, and the surveillance of the implementation, of the employment guidelines that are to be taken into account by Member States in accordance with Article 148(2) TFEU, including the European Pillar of Social Rights, and of the related country-specific recommenduniversal access to basic public services, such as health, education, housing and transportations;
2023/10/26
Committee: ECON
Amendment 386 #
Proposal for a regulation
Article 3 – paragraph 2 – point c
(c) the submission, assessment and endorsement of Member States’ medium- term fiscal-structural plans, as well as their monitoring via the annual progress reportsclimate goals set in the Paris Agreement and the necessary green energy transition;
2023/10/26
Committee: ECON
Amendment 390 #
Proposal for a regulation
Article 3 – paragraph 2 – point d
(d) the surveillance to prevent and correct macroeconomic imbalances pursuant to Regulation (EU) No 1176/2011;a fair tax system, eliminating tax avoidance and evasion practices.
2023/10/26
Committee: ECON
Amendment 392 #
Proposal for a regulation
Article 3 – paragraph 2 – point d a (new)
(d a) the goals laid out in the European Pillar of Social Rights.
2023/10/26
Committee: ECON
Amendment 393 #
Proposal for a regulation
Article 3 – paragraph 2 – point e
(e) other multilateral surveillance procedures established by the European Parliament and the Council pursuant to Article 121(6) TFEU.deleted
2023/10/26
Committee: ECON
Amendment 404 #
Proposal for a regulation
Article 4
1. Where necessary, following the assessment pursuant to this Regulation of the medium-term fiscal-structural plans, the annual progress reports and the socio- economic situation of the Member States concerned, the Council shall, on the basis of recommendations from the Commission, address recommendations to those Member States making full use of the legal instruments provided in Articles 121 and 148 TFEU and related secondary legislation. 2. Member States shall take due account of the broad guidelines for the economic policies of the Member States, of the employment guidelines and of the recommendations referred to in Article 3, second paragraph, points (a) and (b) before taking key decisions in the development of their economic, employment and budgetary policies. Progress shall be monitored by the Commission. 3. Failure by a Member State to act upon the guidance received may result in: (a) further country-specific recommendations; (b) a warning by the Commission or a recommendation by the Council pursuant to Article 121(4) TFEU; (c) measures under this Regulation, Council Regulation (EC) No 1467/9731 or Regulation (EU) No 1176/2011. _________________ 31 Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure (OJ L 209, 2.8.1997, p. 6).Article 4 deleted Implementation of the European Semester
2023/10/26
Committee: ECON
Amendment 420 #
Proposal for a regulation
Article 5 – paragraph 1
For e1. Each Member State shaving a public debt above the 60% of GDP reference value or a government deficit above the 3% of GDP reference value, the Commission shall put forward, in a report to the Economic and Financial Committee, a technical trajectory for net expenditure covering a minimum adjustmentll present a reference trajectory for the primary balance net of the expenditures related to: (a) productive public investment to achieve its common priorities as set out in Annex VI and the specific goals as set out in paragraph 2; (b) expenditure deemed as urgent to achieve the climate goals set on the Paris Agreement. 2. Such trajectory shall guarantee that the following goals are achieved: (a) full-employment; (b) the goals set in the Paris Agreement; (c) access to basic public services, including health, social care, housing and education; d) the goals set in the European Pillar of Social Rights; (e) a sustainable level of public debt and of period of 4 years of the national medium-term fiscal-structural plan, and its possible extension by a maximum of 3 years pursuant to Article 13. The Commission shall make the report publicmary deficit. 3. The Member State shall complement the presentation of the primary balance trajectory with a broader set of macroeconomic targets to achieve and the corresponding budgetary plan, including the expected revenues, expenditures, and public debt-to-GDP ratio. 4. The Member State shall make public its analysis of plausibility for debt sustainability and the underlying data, models and assumptions used. Such analysis shall encompass the non- exhaustive list of factors laid down on Annex V.
2023/10/26
Committee: ECON
Amendment 434 #
Proposal for a regulation
Article 6
Requirements for the technical trajectory The technical trajectory shall ensure that: (a) the public debt ratio is put or remains on a plausibly downward path, or stays at prudent levels; (b) the government deficit is brought and maintained below the 3% of GDP reference value; (c) the fiscal adjustment effort over the period of the national medium-term fiscal-structural plan is at least proportional to the total effort over the entire adjustment period; (d) the public debt ratio at the end of the planning horizon is below the public debt ratio in the year before the start of the technical trajectory; and (e) national net expenditure growth remains below medium-term output growth, on average, as a rule over the horizon of the plan. The technical trajectories shall be differentiated for each Member State. The criteria for setting the technical trajectories are set out in Annex I.Article 6 deleted
2023/10/26
Committee: ECON
Amendment 511 #
Proposal for a regulation
Article 7 – title
Prior guidanceRemarks by the Commission
2023/10/26
Committee: ECON
Amendment 512 #
Proposal for a regulation
Article 7 – paragraph 1 – introductory part
1. By [1 March] of the year [xxxx] in which the Member States have to submit for the first time their medium-The Commission may bilaterally provide remarks on possibly betterm fiscal-structural plans or, as appropriate, within 3 weeks from the request of the Member State to submit a new plan, the Commission shall publish: options to achieve the macroeconomic targets chosen by the Member State on the reference trajectory.
2023/10/26
Committee: ECON
Amendment 517 #
Proposal for a regulation
Article 7 – paragraph 1 – point a
(a) the underlying medium-term public debt projection framework and results;deleted
2023/10/26
Committee: ECON
Amendment 522 #
Proposal for a regulation
Article 7 – paragraph 1 – point b
(b) its macroeconomic forecast and assumptions;deleted
2023/10/26
Committee: ECON
Amendment 529 #
Proposal for a regulation
Article 7 – paragraph 1 – point c
(c) the technical trajectory, if required under Article 5, and the corresponding structural primary balance.deleted
2023/10/26
Committee: ECON
Amendment 536 #
Proposal for a regulation
Article 7 – paragraph 2
2. For Member States having a government deficit below the 3% of GDP reference value and public debt below the 60% of GDP reference value, the Commission shall provide technical information regarding the structural primary balance necessary to ensure that the headlSuch remarks shall be duly justified with the underlyineg deficit is maintained below the 3% of GDP reference value without any additional policy measures over a 10- year period after the end of the national medium-term fiscal-structural planata, models and assumptions used.
2023/10/26
Committee: ECON
Amendment 542 #
Proposal for a regulation
Article 7 – paragraph 3
3. The Commission shall update the technical trajectories and the quantitative guidance at least once every 4 years in time for the submission of the next cycle of medium-term fiscal-structural plans.deleted
2023/10/26
Committee: ECON
Amendment 548 #
Proposal for a regulation
Article 8
To assess plausibility that the projected public debt ratio of the Member State concerned is on a downward path or remains at a prudent level, the Commission shall use the methodology referred to in Annex V. The Commission shall make public its analysis of plausibility and the underlying data.Article 8 deleted Assessment of plausibility
2023/10/26
Committee: ECON
Amendment 574 #
Proposal for a regulation
Article 9 – paragraph 1
Each Member State shall submit to the Council and to the Commission a national medium-term fiscal-structural plan before end-April following the entry into force of this Regulation. The Member State concerned and the Commission may agree to extend this deadline by a reasonable period if necessary.
2023/10/26
Committee: ECON
Amendment 590 #
Proposal for a regulation
Article 9 – paragraph 2 a (new)
Each Member State shall ensure that representatives of workers' associations, civil society organizations and other relevant stakeholders are given early and effective opportunities to participate in the preparation of the national medium-term fiscal structural plans.
2023/10/26
Committee: ECON
Amendment 592 #
Proposal for a regulation
Article 10 – title
Technical dialogueApproval in the national parliament
2023/10/26
Committee: ECON
Amendment 593 #
Proposal for a regulation
Article 10 – paragraph 1
Prior to the submission of itsThe reference trajectory and national medium-term fiscal-structural plan, of the Member State concerned shall hold with the Commission a technical dialogue, with the objective of ensuring that the national medium-term fiscal-structural plan complies with Articles 11, 12 and 14be debated and approved in the national parliament in accordance with national procedures and traditions.
2023/10/26
Committee: ECON
Amendment 610 #
Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 2
The national medium-term fiscal-structural plan shall also describe the actions of the Member State concerned to address the country-specific recommendations, including those that are relevant for the Macroeconomic Imbalances Procedure, and the warnings by the Commission, where applicable, or the recommendations by the Council, where applicable, made pursuant to Article 121(4) TFEUsocial and environmental guidelines issued by the Commission as laid down in Article 3.
2023/10/26
Committee: ECON
Amendment 618 #
Proposal for a regulation
Article 11 – paragraph 2
2. Where the national-medium-term fiscal-structural plan includes a higher net expenditure trajectory than in the technical trajectory issued by the Commission pursuant to Article 5, the Member State shall provide in its plan sound and verifiable economic arguments explaining the difference.deleted
2023/10/26
Committee: ECON
Amendment 630 #
Proposal for a regulation
Article 12 – paragraph 1 – point a
(a) ensure the fiscal adjustment necessary to put or keep public debt on a plausibly downward path by the end of the adjustment period at the latest, or remain at prudent levels, and to bring and maintain the government deficit below the 3% of GDP reference value over the medium termat public debt and primary deficit are put or kept on a plausibly sustainable path, starting after the implementation period;
2023/10/26
Committee: ECON
Amendment 648 #
Proposal for a regulation
Article 12 – paragraph 1 – point b
(b) explain how it will ensure the delivery of investment and reforms responding to the main challenges identified within the European Semester, in the country-specific recommendations, correct the identified macroeconomic imbalances under the Macroeconomic Imbalances Procedure if applicable,Social and Environmental Guidelines issued by the Commission and address the common priorities of the Union referred to in Annex VI of this Regulation, including the European Green Deal, European Pillar of Social Rights and the Digital Decade while being consistent with the updated National Energy and Climate Plans and the National Digital Decade Roadmaps;
2023/10/26
Committee: ECON
Amendment 704 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point i
(i) be growth enhancingpromote full-employment and reduce poverty;
2023/10/26
Committee: ECON
Amendment 739 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point v a (new)
(v a) comply with the do no significant harm principle;
2023/10/26
Committee: ECON
Amendment 741 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point v b (new)
(v b) guarantee universal access to basic public services;
2023/10/26
Committee: ECON
Amendment 765 #
Proposal for a regulation
Article 14 – paragraph 1
1. A Member State may request toshall submit a revised national medium-term fiscal-structural plan to the Commission before the end of its adjustment period if there are objective circumstances preventing the implementation of the originalreference trajectory and a revised national medium-term fiscal- structural plan tor if the subCommission of a new national medium-term fiscal- structural plan is requested byin case a new government takes power.
2023/10/26
Committee: ECON
Amendment 788 #
Proposal for a regulation
Article 14 – paragraph 4
4. Where a revised national medium- term fiscal-structural plan is submitted, Articles 12 and 15 to 19 shall apply.deleted
2023/10/26
Committee: ECON
Amendment 804 #
Proposal for a regulation
Article 15 – paragraph 2 – point a
(a) whether the national medium-term fiscal-structural plan ensures that public debt is put or kept on a plausibly downward path by the end of the adjustment period at the latest, or stays at prudent levelssustainable path, starting after the implementation period;
2023/10/26
Committee: ECON
Amendment 816 #
Proposal for a regulation
Article 15 – paragraph 2 – point b
(b) whether the governmentprimary deficit is maintained below the 3% of GDP reference value throughout the duration of the plan or whether the government deficit returns swiftly below the 3% of GDP reference valuput or kept on a plausibly sustainable pat the latest by the end of the adjustment period when the deficit is above this reference value ath, starting after the time of submission of the national medium-term fiscal-structural planplementation period;
2023/10/26
Committee: ECON
Amendment 820 #
Proposal for a regulation
Article 15 – paragraph 2 – point c
(c) whether the government deficit is maintained below the 3% of GDP reference value in the absence of further budgetary measures over a period of 10 years;deleted
2023/10/26
Committee: ECON
Amendment 828 #
Proposal for a regulation
Article 15 – paragraph 2 – point d
(d) whether the fiscal adjustment effort over the period of the national medium-term fiscal-structural plan is at least proportional to the total effort over the entire adjustment period;deleted
2023/10/26
Committee: ECON
Amendment 836 #
Proposal for a regulation
Article 15 – paragraph 2 – point e
(e) whether for the years that the Member State concerned is expected to have a deficit above the 3% of GDP reference value, and the excess is not close and temporary, the fiscal adjustment is consistent with the benchmark referred to under Article 3 of Council Regulation (EC) No 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure as amended by Regulation [X]; andeleted
2023/10/26
Committee: ECON
Amendment 845 #
Proposal for a regulation
Article 15 – paragraph 2 – point f
(f) whether the public debt ratio at the end of the planning horizon is below the public debt ratio in the year before the start of the technical trajectory.deleted
2023/10/26
Committee: ECON
Amendment 859 #
Proposal for a regulation
Article 15 – paragraph 2 – point f a (new)
(f a) whether representatives of workers' associations , civil society organisations and other relevant stakeholders were consulted and how their opinions have been taken into account.
2023/10/26
Committee: ECON
Amendment 874 #
Proposal for a regulation
Article 16
Endorsement of the national medium- term fiscal-structural plan by the Council The Council, on a recommendation from the Commission, shall adopt a recommendation setting the net expenditure path of the Member State concerned and, if applicable, endorsing the set of reform and investment commitments underpinning an extension of the adjustment period included in its national medium-term fiscal-structural plan within four weeks of the adoption of the Commission recommendation as a rule. Where the national medium-term fiscal- structural plan serves as the corrective action plan required for the correction of excessive macroeconomic imbalances, as provided for in Article 30, the Council shall also endorse in that recommendation the reforms and investment necessary to correct the imbalances.Article 16 deleted
2023/10/26
Committee: ECON
Amendment 887 #
Proposal for a regulation
Article 17
Council Recommendation for a revised national medium-term fiscal-structural Where it considers that the plan does not comply with the requirements set out in Article 15 (2) and (3) point (a), the Council shall, on a recommendation from the Commission, recommend that the Member State concerned submits a revised national medium-term fiscal- structuralArticle 17 deleted plan.
2023/10/26
Committee: ECON
Amendment 893 #
Proposal for a regulation
Article 18
The Council shall, on a recommendation from the Commission, recommend to the Member State concerned that the technical trajectory issued by the Commission be the net expenditure path of the Member State where: (a) the Member State concerned fails to submit a revised national medium-term fiscal-structural plan within one month of the recommendation by the Council; (b) the Council considers that the revised national medium-term fiscal-structural plan does not comply with the requirements set out in Article 15(2) and (3), point (a); (c) the Member State fails to submit a new national medium-term fiscal-structural plan at the end of the period covered by the previous national medium-term fiscal- structural plan.Article 18 deleted Council Recommendation in case of failure by the Member State
2023/10/26
Committee: ECON
Amendment 909 #
Proposal for a regulation
Article 19
satisfactorily comply with its commitments Where a Member State has been granted an extension of its adjustment period but fails to satisfactorily comply with its set of reform and investment commitmentsArticle 19 deleted Failure by a Member State to underpinning thean extension referred to in Article 13(1), the Council may on a recommendation from the Commission, recommend a revised net expenditure path with a shorterof its adjustment period.
2023/10/26
Committee: ECON
Amendment 930 #
Proposal for a regulation
Article 21
Monitoring by the Commission The Commission shall monitor the implementation of the national medium- term fiscal-structural plan, and in particular, the net expenditure path. The Commission shall set up a control account, functioning in accordance with Annex IV, and shall keep track of cumulative upward and downward deviations of actual net expenditures from the net expenditure path.Article 21 deleted
2023/10/26
Committee: ECON
Amendment 960 #
Proposal for a regulation
Article 23
recommendation for policy measures 1. In the event of a significant risk of deviation from the net expenditure path or a risk that the government deficit may exceed the 3% of GDP reference value, the Commission may address a warning to the Member State concerned in accordance with Article 121(4) TFEU. 2. On the basis of a Commission recommendation, the Council shall, within one month of the Commission warning referred to in paragraph 1, adopt a recommendation to the Member State concerned for the necessary policy measures, in accordance with Article 121(4) TFEU.Article 23 deleted Commission warning and Council
2023/10/26
Committee: ECON
Amendment 974 #
Proposal for a regulation
Article 24 – title
Severe eEconomic downturn in the euro area or the Union as a wholMember State
2023/10/26
Committee: ECON
Amendment 975 #
Proposal for a regulation
Article 24 – paragraph 1
On a recommendation from the Commission, the Council may adopt a recommendation allowing Member States to deviate from their net expenditure pathThe Member State concerned can deviate from its reference trajectory, in the event of a severen economic downturn on a national level or in the euro area or the Union as a whole, provided it does not endanger fiscal sustainability in the medium term. The Council shall specify a time-limit for such deviation. An extension can be taken more than once.
2023/10/26
Committee: ECON
Amendment 986 #
Proposal for a regulation
Article 24 – paragraph 3
The Council, on a recommendation from the Commission, may extend the period during which Member States may deviate from the net expenditure paths, provided that the severe economic downturn in the euro area or the Union as a whole persists. An extension may be granted more than once. However, each extension shall be for an additional period of one year at most.deleted
2023/10/26
Committee: ECON
Amendment 990 #
Proposal for a regulation
Article 25 – title
Exceptional circumstances outside the control of the Member StateSocial or ecological circumstances leading to a majorsignificant impact on the public finances of the Member State concerned
2023/10/26
Committee: ECON
Amendment 992 #
On a recommendation from the Commission, the Council may adopt a recommendation allowing a Member State to deviate from its net expenditure path where exceptional circumstances outside the control of the Member State lead to a major impact on the public finances of the Member State concerned, provided it does not endanger fiscal sustainability in the medium term. The Council shall specify a time-limit for such a deviationThe Member State is allow to deviate from its reference trajectory where social or ecological circumstances with a significant impact on the public finances of the Member State concerned occur. An extension can be taken more than once.
2023/10/26
Committee: ECON
Amendment 1003 #
Proposal for a regulation
Article 25 – paragraph 2
The Council, on a recommendation from the Commission, may extend the period during which the Member State may deviate from the net expenditure path, provided that the exceptional circumstances persist. An extension may be granted more than once. However, each extension shall be for an additional period of one year at most.deleted
2023/10/26
Committee: ECON
Amendment 1011 #
Proposal for a regulation
Article 25 a (new)
Article25a European Central Bank support The ECB shall do everything in its power to support the sustainability of public debt of Member States and prevent a significant divergence of the spreads of Member State’s sovereign debts.
2023/10/26
Committee: ECON
Amendment 1012 #
Proposal for a regulation
Article 26
European Semester Dialogue The European Parliament shall be duly involved in the European Semester in order to increase the transparency and ownership of, and the accountability for the decisions taken, in particular by means of an economic dialogue. The Economic and Financial Committee, the Economic Policy Committee, the Employment Committee and the Social Protection Committee shall be consulted within the framework of the European Semester where appropriate. Relevant stakeholders, in particular the social partners, shall be involved within the framework of the European Semester, on the main policy issues where appropriate, in accordance with the provisions of the TFEU and national legal and political arrangements. In order to enhance the dialogue between the institutions of the Union, in particular the European Parliament, the Council and the Commission, and to ensure transparency and accountability, the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the European Council or the President of the Eurogroup to appear before it to discuss the policy guidance to Member States issued by the Commission, conclusions drawn by the European Council and the results of multilateral surveillance carried out under this Regulation. The President of the Council, and the Commission in accordance with Article 121 TFEU, and, where appropriate, the President of the Eurogroup, shall report annually to the European Parliament and to the European Council on the results of the multilateral surveillance.Article 26 deleted
2023/10/26
Committee: ECON
Amendment 1020 #
Proposal for a regulation
Article 27
The Council is expected to, as a rule, follow the recommendations and proposals of the Commission or explain its position publicly.Article 27 deleted Comply or explain rule
2023/10/26
Committee: ECON
Amendment 1021 #
Proposal for a regulation
Article 28 – paragraph 1
Where the Council addresses a recommendation to a Member State pursuant to Article 23(2) in the event of a significant risk of deviation from the net expenditure path, the European Parliament may offer the opportunity to thatThe European Parliament may invite Member State,s to participate in an exchange of views when it deems relevant to do so.
2023/10/26
Committee: ECON
Amendment 1029 #
Proposal for a regulation
Article 30
Interaction with the Macro-Economic 1. Where a Member State fails to implement the reform and investment commitments included in its national medium-term fiscal-structural plan to address the country-specific recommendations that are relevant for the Macroeconomic Imbalance Procedure established by Regulation (EU) No 1176/2011, and where the Commission considers that the Member State concerned is affected by excessive imbalances in accordance with Article 7(1) of that Regulation, the procedure laid down in Article 7(2) of Regulation (EU) No 1176/2011 shall apply. 2. In that case, the Member State for which an excessive imbalance procedure is opened in accordance with Article 7(2) of Regulation (EU) No 1176/2011, it shall submit a revised plan in accordance with Article 14 of this Regulation. The revised plan shall follow the Council recommendation adopted in accordance with Article 7(2) of Regulation (EU) No 1176/2011. The submission of the revised plan shall be subject to the endorsement by the Council in accordance with Articles 16 to 19 of this Regulation. The revised plan shall be assessed in accordance with Article 15 of this Regulation. 3. Where a Member State submits a revised medium-term fiscal-structural plan pursuant to paragraph 2, that revised plan shall serve as the corrective action plan required under Article 8(1) of Regulation (EU) No 1176/2011 and shall set out the specific policy actions the Member State concerned has implemented or intends to implement and shall include a timetable for those actions. In that case, in accordance with Article 8(2) of Regulation (EU) No 1176/2011, the Council, on the basis of a Commission assessment, shall assess the revised plan within 2 months of its submission. The monitoring and assessment of the implementation of the revised plan shall be made in accordance with Article 21 of this Regulation and Articles 9 and 10 of Regulation (EU) No 1176/2011.Article 30 deleted Imbalance Procedure
2023/10/26
Committee: ECON
Amendment 1037 #
Proposal for a regulation
Article 31
A Member State subject to enhanced surveillance under Article 2 of Regulation (EU) No 472/2013 of the European Parliament and of the Council33 shall take into account any recommendations addressed to it under Article 23 of this Regulation when adopting measures aimed at addressing the sources or potential sources of difficulties pursuant to Article 3(1) of that Regulation. Where a Member State is subject to a macroeconomic adjustment programme and the changes thereto in accordance with Article 7 of Regulation (EU) No 472/2013, it shall not be required to submit a medium-term fiscal-structural plan pursuant to Article 9 of this Regulation and an annual progress report pursuant to Article 20 of this Regulation. _________________ 33 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1).rticle 31 deleted Interaction with the enhanced surveillance procedure
2023/10/26
Committee: ECON
Amendment 1051 #
Proposal for a regulation
Article 33 – paragraph 6 a (new)
6 a. When modifying Annexes I, II and VI the European Commission will ask for the opinion of European workers' associations.
2023/10/26
Committee: ECON
Amendment 1053 #
Proposal for a regulation
Article 35
In-depth surveillance missions 1. The Commission may undertake in- depth surveillance missions in Member States which are the subject of recommendations issued pursuant to Article 23 for the purposes of on-site monitoring. 2. When the Member State concerned is a Member State whose currency is the euro or a Member State that is participating in ERM2, the Commission may invite representatives of the European Central Bank, if appropriate, to participate in surveillance missions.Article 35 deleted
2023/10/26
Committee: ECON
Amendment 1060 #
Proposal for a regulation
Article 36 – paragraph 2
2. The report referred to in paragraph 1 shall review: (a) the effectiveness of this Regulation, particularly whether the provisions governing decision-making have proved sufficiently efficient in ensuring a downward path for public debt ratios or maintaining them at prudent levels in accordance with the relevant Council recommendations; (b) the progress in ensuring closer coordination of economic policies and sustained convergence of economic performances of the Member States.deleted
2023/10/26
Committee: ECON
Amendment 1079 #
Proposal for a regulation
Annex I
Criteria for setting the technical trajectory for Member States having a public debt above 60% of GDP reference value or government deficit above 3% of GDP reference value For Member States having public debt above the 60% of GDP reference value or government deficit above the 3% of GDP reference value, the technical trajectory shall ensure that: (a) by the end of the adjustment period, at the latest, the 10-year debt trajectory in the absence of further budgetary measures is on a plausibly downward path or stays at prudent levels; (b) the government deficit is brought and maintained below the 3% of GDP reference value in the absence of further budgetary measures over the same 10- year period; (c) for the years that the Member State concerned is expected to have a deficit above the 3% of GDP reference value, and the excess is not close and temporary, the technical trajectory is also consistent with the benchmark referred to under Article 3 of Council Regulation (EC) No 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure as amended by Regulation [X]; (d) the adjustment effort is not postponed towards the final years of the adjustment period, that is to say the fiscal adjustment effort over the period of the national medium-term fiscal-structural plan is at least proportional to the total effort over the entire adjustment period; (e) the public debt ratio at the end of the planning horizon is below the public debt ratio in the year before the start of the technical trajectory; and (f) national net expenditure growth remains below medium-term output growth, on average, as a rule over the horizon of the plan.deleted
2023/10/26
Committee: ECON
Amendment 1108 #
Proposal for a regulation
Annex II – paragraph 1 – point d
(d) Information on implicit liabilities related to ageing, and contingent liabilities with a potentially large impact on government budgets, including government guarantees, non-performing loans, and liabilities stemming from the operation of public corporations, including the extent thereof, potential expenses and obligations arising from court cases and, to the extent possible, information on disaster and climate contingent liabilities. It shall also include risks correlated to ineffective taxation systems, tax evasion and avoidance, and the correspondent impact on inequalities;
2023/10/26
Committee: ECON
Amendment 1109 #
Proposal for a regulation
Annex II – paragraph 1 – point e
(e) The main assumptions about expected economic developments and main economic variables which are relevant for ensuring consistency with a convergence of public debt towards prudent levels and maintaining the government deficit below the 3% of GDP reference value.sustainable level of public debt and primary deficit;
2023/10/26
Committee: ECON
Amendment 1142 #
Proposal for a regulation
Annex III – paragraph 1 – point d a (new)
(d a) Detailed information on how representatives of workers' associations, civil society organizations and other relevant stakeholders are being involved in the implementation of the commitments;
2023/10/26
Committee: ECON
Amendment 1143 #
Proposal for a regulation
Annex III – paragraph 1 – point e
(e) Information for the following year on how the Member State intends to address the country-specific recommendations of the previous year, including, where applicable, the recommendation on the economic policy of the euro area.deleted
2023/10/26
Committee: ECON
Amendment 1150 #
Proposal for a regulation
Annex III – paragraph 1 – point l
(l) An analysis of the evolution of the macroeconomic imbalances identified under the Macroeconomic Imbalance Procedure and of the impact on them of the implementation of the relevant reforms and investment reported in the national medium-term fiscal-structural plan in accordance with Annex II, point (n), where applicable.deleted
2023/10/26
Committee: ECON
Amendment 1156 #
Proposal for a regulation
Annex IV
Functioning of the Control Account The control account for each Member State referred to in Article 21 will record a debit when the actual net expenditure in the Member State in a given year is above the net expenditure path set by the Council. The control account will record a credit when the actual net expenditure in the Member State in a given year is below the net expenditure path set by the Council. The cumulated balance of the control account in a given period is the sum of the yearly debits and credits registered during that period.deleted
2023/10/26
Committee: ECON
Amendment 1171 #
Proposal for a regulation
Annex VI – paragraph 1 – point c a (new)
(c a) The UN 2030 Agenda for sustainable development, including its Sustainable Development Goals.
2023/10/26
Committee: ECON
Amendment 1172 #
Proposal for a regulation
Annex VI – paragraph 1 – point d
(d) A Strategic Compass for Security and Defence - For a European Union that protects its citizens, values and interests and contributes to international peace and security.38 _________________ 38 Council of the European Union, COPS 130.deleted
2023/10/26
Committee: ECON
Amendment 1176 #
Proposal for a regulation
Annex VII
[...]deleted
2023/10/26
Committee: ECON