4 Amendments of Gunnar HÖKMARK related to 2011/0386(COD)
Amendment 61 #
Proposal for a regulation
Recital 4 a (new)
Recital 4 a (new)
(4a) Sound public finances and balanced budgets are a prerequisite for economic and financial stability as clearly demonstrated by the sovereign debt crisis, underlining the need for strong and solid fiscal frameworks. Furthermore, the deficits of today, associated with stagnated economies, highlight the need for reforms rather than increased spending.
Amendment 79 #
Proposal for a regulation
Recital 7
Recital 7
(7) There is strong evidence showing the effectiveness ofEconomic research as well as practical experience clearly vindicates the highly significant role played by rules-based fiscal frameworks in supporting sound and sustainable fiscal policies. The introduction of national fiscal rules that are consistent with the budgetary objectives set at Union level should be a crucial element to ensure the respect of the Stability and Growth Pact provisions. In particular, Member States shouldall for the purpose of further anchoring the provisions of the Stability and Growth Pact put in place structural balanced budget rules which transpose into national legislation the main principles of the Union fiscal framework. This transposition should be effective through binding rules preferably of a constitutional nature so as to demonstrate the strongest commitment of national authorities in relation to the Stability and Growth Pact.
Amendment 83 #
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7a) The extent of sovereign indebtedness in the Union is a paramount challenge which should be addressed if the economy is to return to a stable and resilient growth trend in the short as well as the long term. A significant time span will elapse before the average level of indebtedness among Member States re- enters the 60 % trajectory stipulated by the Stability and Growth Pact. Fulfilment of the medium-term budgetary objectives is a fundamental precondition in this regard while deviating from them could trigger soaring interest rates and thereby threaten growth and recovery.
Amendment 166 #
Proposal for a regulation
Article 4 – paragraph 2
Article 4 – paragraph 2
2. Member States shall have in place an fully independent fiscal council for monitoring the implementation of national fiscal rules as referred to in paragraph 1.