26 Amendments of José Manuel GARCÍA-MARGALLO Y MARFIL related to 2023/0138(COD)
Amendment 255 #
Proposal for a regulation
Recital 21
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. The role of the European Parliament in the European Semester process itself should be preserved.
Amendment 304 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation sets out rules ensuring effective coordination of economic, budgetary and structural policies of the Member States, thereby supporting the achievement of the Union’s objectives for growth and employment.
Amendment 331 #
Proposal for a regulation
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
(2) ‘net expenditure’ means government expenditure net of interest expenditure, discretionary revenue measures and, other budgetary variables outside the control of the government, as set outdefined in Annex II, point (a);. Costs related to the borrowing of funds for the loans related to the national plans in accordance with the Recovery and Resilience Facility shall be included in the calculation of the net expenditure.
Amendment 373 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
In order to ensure closer coordination of economic, budgetary and structural policies and sustained convergence of the economic 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 Council.
Amendment 430 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
For each Member State having 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 adjustment 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 public granting by all means transparency in the procedure including all data, assumptions and calculations refered to the technical trayectory.
Amendment 439 #
Proposal for a regulation
Article 6 – paragraph 1 – point a
Article 6 – paragraph 1 – point a
(a) by the publicend of the adjustment period, at the latest, the 10-year debt tratio is put or remains on a plausibly downward path,jectory in the absence of further budgetary measures is on a plausibly downward path, leading to sustainable debt reduction or stays at prudent levels;
Amendment 478 #
Proposal for a regulation
Article 6 – paragraph 1 – point d
Article 6 – paragraph 1 – point d
(d) the public debt ratio at the end of the planning horizon is significantly below the public debt ratio in the year before the start of the technical trajectory; and
Amendment 482 #
Proposal for a regulation
Article 6 – paragraph 1 – point d a (new)
Article 6 – paragraph 1 – point d a (new)
(d a) the public debt ratio is reduced by at least 0,5% of GDP per year on average over the adjustment period, if the GDP growth is between 0% and 2% per year;
Amendment 484 #
Proposal for a regulation
Article 6 – paragraph 1 – point d b (new)
Article 6 – paragraph 1 – point d b (new)
(d b) the public debt ratio is reduced by at least 1% of GDP per year on average over the adjustment period, if the GDP growth is at least at 2% of per year;
Amendment 505 #
Proposal for a regulation
Article 6 – paragraph 1 a (new)
Article 6 – paragraph 1 a (new)
Points (da) and (db) shall not apply if there is a negative GDP growth per year on average over the adjustment period.
Amendment 621 #
Proposal for a regulation
Article 11 – paragraph 2
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 differenceprojections and assessments of the economic and fiscal situation, based on and backed by data, explaining the difference and a credible time path to return to the technical trajectory issued by the Commission. The explanation and justification need to be accompanied by an independent evaluation of the respective national IFI and the EFB.
Amendment 651 #
Proposal for a regulation
Article 12 – paragraph 1 – point b
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, 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 Cliincluding 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, matde Plans and the National Digital Decade Roadmapspursuant to Article 121(4) TFEU;
Amendment 717 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point ii
Article 13 – paragraph 2 – subparagraph 2 – point ii
(ii) supportimprove fiscal sustainability;
Amendment 760 #
Proposal for a regulation
Article 13 – paragraph 5
Article 13 – paragraph 5
5. The assessment of whether the set of reforms and investment commitments fulfil the criteria set out in paragraph 2 and of whether each of the reform and investment commitment fulfil the conditions set out in paragraph 3 shall be carried out in accordance with the assessment framework set out in Annex VII. The assessment should be accompanied by an independent evaluation of the respective national IFI and the EFB.
Amendment 767 #
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
1. 1. A Member State may request no later than 12 months before the end of the current national medium-term fiscal- structural plan to submit a revised national medium-term fiscal-structural plan to the Commission before the end of its adjustment period if there are objective circumstances outside the control of the Member State preventing the implementation of the original national medium-term fiscal- structural plan or if the submission of a newrevised national medium- term fiscal-structural plan is requested by a new government. The ambition of the reform and investments in the revised plan shall not be lower than the original plan. Inflation, revisions to potential growth estimates, or other circumstances that make it easier for a government to implement the original national medium-term fiscal- structural plan is requested by a new government. cannot be the basis for a request to revise the plan and thus do not constitute objective circumstances. Where the Commission considers that the reasons put forward by the Member State concerned do not justify revision of the national medium-term fiscal-structural plan, it shall reject the request within the period referred to in Article 15 (1), after having given the Member State concerned the possibility to present its observations within one month of the communication of the Commission’s conclusions. Reforms and investments that were implemented satisfactorily according to the plan as originally endorsed by the Council should not be reversed by the Member State concerned.
Amendment 800 #
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
1. The Commission shall assess each national medium-term fiscal-structural plan within 2 months of its submission. The Member State concerned and the Commission may agree to extend the period of assessment by a reasonable period if necessary, not exceeding two months.
Amendment 856 #
Proposal for a regulation
Article 15 – paragraph 2 – point f
Article 15 – paragraph 2 – point f
(f) whether the public debt ratio at the end of the planning horizon is substantially below the public debt ratio in the year before the start of the technical trajectory.
Amendment 883 #
Proposal for a regulation
Article 16 – paragraph 1
Article 16 – paragraph 1
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. The Commission recommendation shall be accompanied by an evaluation of the EFB and the national independent fiscal institution regarding the fulfilment of the criteria in Article 15 and the assumptions used in the reference trajectory.
Amendment 938 #
Proposal for a regulation
Article 21 – paragraph 2
Article 21 – paragraph 2
The Commission shall monitor the implementation of the national medium- term fiscal-structural plan, and in particular, the net expenditure path and the reforms and investments underpinning the adjustment period. 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, taking into account the requirements set out under article 25 of this Regulation, when it applies.
Amendment 942 #
Proposal for a regulation
Article 21 – paragraph 2 a (new)
Article 21 – paragraph 2 a (new)
A Member State will be deemed not to be in compliance of its net expenditure path where the cumulated balance of the control account during the adjustment period is higher than [X% of GDP] in the years of positive GDP growth.
Amendment 966 #
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
1. In the event of a significant or sustained risk of deviation from the net expenditure path as monitored by the control account 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.
Amendment 979 #
Proposal for a regulation
Article 24 – paragraph 1
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 path, in the event of a severe economic downturn 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 deviationlimit as well as a maximum to the size of the deviation per Member State which would not lead to a breach of medium-term fiscal sustainability.
Amendment 994 #
Proposal for a regulation
Article 25 – paragraph 1
Article 25 – paragraph 1
On a recommendation from the Commission, along with an independent evaluation of the respective national IFI and the EFB, 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 deviationas well as a maximum to the size of the deviation per Member States which would not lead to a breach of medium-term fiscal sustainability.
Amendment 1007 #
Proposal for a regulation
Article 25 – paragraph 2
Article 25 – paragraph 2
The Council, on a recommendation from the Commission and the independent evaluation of the respective national IFI and the EFB, 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.
Amendment 1028 #
Proposal for a regulation
Article 29 – paragraph 2 a (new)
Article 29 – paragraph 2 a (new)
2 a. Information shall be prepared and transmitted by the Commission to the Council and any of its preparatory bodies in the context of this Regulation or its implementation and shall be made available to the European Parliament simultaneously and on equal terms without undue delay, subject to confidentiality arrangements if necessary.
Amendment 1035 #
Proposal for a regulation
Article 30 – paragraph 2
Article 30 – paragraph 2
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. When the Commission decides against opening an excessive imbalance procedure under Article 7 (2) of Regulation (EU) No 1176/2011 in cases where it considers that the Member State concerned is affected by excessive imbalances on the basis of the in-depth review referred to in Article 5 of that Regulation, it shall clearly, duly and publicly explain its position and reasoning based on codified criteria.