25 Amendments of Antolín SÁNCHEZ PRESEDO related to 2010/0280(COD)
Amendment 76 #
Proposal for a regulation
Recital 1
Recital 1
(1) The coordination of the economic policies of the Member States within the Union, as provided by the Treaty, should be developed in the context of the broad economic and employment guidelines with a view to contributing to the achievement of the objectives of the Union defined in Article 3 of the TUE and the fulfilment of the requirements provided in Article 9 of the TFEU, and should entail compliance with the guiding principles of stable prices, sound and sustainable public finances and monetary conditions and a sustainable balance of payments.
Amendment 99 #
Proposal for a regulation
Recital 5 b (new)
Recital 5 b (new)
(5b) The improved economic governance framework should rely on several inter- linked and coherent policies, namely a Union strategy for jobs and smart, sustainable and inclusive growth, a European Semester for strengthened coordination of economic and budgetary policies, an effective framework for preventing and correcting excessive budgetary positions (the Stability and Growth Pact), a robust framework for preventing and correcting macro- economic imbalances, enhanced financial market regulation and supervision (including macro-prudential supervision by the European Systemic Risk Board), a credible permanent financial stability mechanism, a multiannual financial framework and a increased Union budget with new financial and own resources, which should be aimed to improve economic coordination and achieve the objectives of the Union
Amendment 106 #
Proposal for a regulation
Recital 5 c (new)
Recital 5 c (new)
(5c) The Stability and Growth Pact and the Union's economic governance framework as a whole should complement and be compatible with a Union strategy for jobs and smart, sustainable and inclusive growth which aims at boosting the Union's competitiveness, environmental responsibility and social progress.
Amendment 110 #
Proposal for a regulation
Recital 5 a (new)
Recital 5 a (new)
(5a) Experience gained during the first decade of functioning of the economic and monetary union shows a need for improved economic governance in the Union, which should be built on a stronger national ownership of commonly agreed rules and policies and on a more robust framework at the Union level for national economic policies.
Amendment 111 #
Proposal for a regulation
Recital 5 b (new)
Recital 5 b (new)
(5b) The European semester for economic and budgetary policies coordination should play a vital role in implementing the requirement under Article 121(1) of the Treaty on the Functioning of the European Union (TFEU) that Member States regard their economic policies as a matter of common concern and coordinate them accordingly. Transparency, independent oversight and multilateral coordinated surveillance are an integral part of enhanced economic governance. The Council and the Commission should make public and set out the reasons for their positions and decisions at appropriate stages of the economic policy coordination procedures
Amendment 114 #
Proposal for a regulation
Recital 5 d (new)
Recital 5 d (new)
(5d) Strengthening economic governance should go hand in hand with reinforcing the democratic legitimacy of economic governance in the Union, which should be achieved through a closer and more timely involvement of the European Parliament and the national parliaments throughout the economic policy coordination, with full use of the tools provided for by the TFEU, in particular the broad guidelines for the economic policies of the Member States and of the Union and the guidelines for the employment policies of the Member States.
Amendment 178 #
Proposal for a regulation
Recital 11 a (new)
Recital 11 a (new)
(11a) The Council and the Commission should make their positions and decisions public at appropriate stages of the economic policy coordination procedures, while fully respecting Treaty provisions, in order to ensure effective peer pressure. The European Parliament may invite the Council, the Commission and the Member State concerned to explain before its competent committee its decisions and policies; the Council, the Commission and the Member State concerned may equally ask to be invited to the European Parliament for the same purposes.
Amendment 200 #
Proposal for a regulation – amending act
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1466/97
Article 2
Article 2
For the purpose of this Regulation “: (a)'participating Member States” shall' means those Member States whose currency is the euro and “that have not opt-out according article 2a and (b) 'Member States with a derogation” shall' means Member States other than those whose currency is the euro.'
Amendment 201 #
Proposal for a regulation – amending act
Article 1 – point 1 a (new)
Article 1 – point 1 a (new)
1a. The following article is inserted: "Article 2-a A Member State with a derogation may not apply the rules applicable to participating Member States laid down in this Regulation and, if so, shall notify the Commission accordingly. Such a notification must detail the non applicable rules and shall be published in the Official Journal of the European Union. The Member State concerned shall be considered to be a non participating Member State for the purposes of this Directive from the day after such publication."
Amendment 208 #
Proposal for a regulation – amending act
Article 1 – point 1 b (new)
Article 1 – point 1 b (new)
Regulation (EC) No 1466/97
Article 2–aa (new) (in Section 1–A)
Article 2–aa (new) (in Section 1–A)
1b. The following article is inserted Article 2-aa The multilateral surveillance by the Council shall be conducted as part of a European semester for economic policy coordination (Semester) in line with the provisions of this Regulation and the requirement that Member States regard their economic policies as a matter of common concern and that they coordinate them within the Council in accordance with the objectives set out in Article 3 TUE and Articles 9, 120 and 148 TFEU. The Semester shall, inter alia, consist of the multilateral surveillance of the stability and convergence programmes under this Regulation, the prevention and correction of macroeconomic imbalances under Regulation (EU) No .../2011, the excessive deficit procedure under Regulation (EC) No 1467/97 and the formulation of the broad guidelines of the economic policies of the Member States and of the Union (Broad Economic Policy Guidelines) in accordance with Article 121(2) TFEU and the guidelines that Member States shall take into account in their employment policies (Employment Guidelines) in accordance with Article 148(2) TFEU and the implementation of those guidelines and the annual policy orientations deriving from the Annual economic and social summit within the framework of the Union's strategy for jobs and smart, sustainable and inclusive growth. The European Parliament and the national parliaments shall be duly involved in the Semester in order to increase transparency, ownership, accountability of any decisions taken. In order to ensure an adequate involvement of the European Parliament, an inter- institutional agreement between the European Parliament, the European Council, the Council and the Commission shall be concluded by 31 December 2011.a procedural agreement between the European Parliament, the European Council, the Council and the Commission shall be concluded by 31 December 2011. That procedural agreement shall be reviewed every three years and amended if appropriate.
Amendment 212 #
Proposal for a regulation – amending act
Article 1 – point 1 b (new)
Article 1 – point 1 b (new)
Regulation (EC) No 1466/97
Article 2–ac (new) (in Section 1–A)
Article 2–ac (new) (in Section 1–A)
Amendment 214 #
Proposal for a regulation – amending act
Article 1 – point 1 c (new) – point a (new)
Article 1 – point 1 c (new) – point a (new)
Regulation (EC) No 1466/97
Article 2a – paragraph 1
Article 2a – paragraph 1
Amendment 228 #
Proposal for a regulation – amending act
Article 1 – point 1 d (new)
Article 1 – point 1 d (new)
Regulation (EC) No 1466/97
Section 1A a (new)
Section 1A a (new)
1d. The following section is inserted: "Section 1Aa NATIONAL OWNERSHIP Article 2aa Member States shall establish a medium- term budgetary framework, with a fiscal planning horizon of at least three years, with a view to helping them produce a meaningful medium-term objective. Member States, independent statistics and national fiscal policy rules or institutes shall ensure an informed national debate on current structural budget positions and on the medium-term objective as set out in this Regulation. Each participating Member State shall endeavour to obtain parliamentary approval and to ensure that its stability program is in conformity with the financial implications of its national reform program in line with the investment principles set out in the framework of the Union's strategy for jobs and smart, sustainable and inclusive growth. Where there has been no such parliamentary approval, this shall be specified in the stability programme. Member States shall take into account guidance and recommendations from the Council and the Commission, in particular when preparing their budgets, and appropriately involve national parliaments in the economic policy coordination procedures. When submitting the draft budget to the national parliament, Member States shall also submit any opinion of the Council or the Commission on the stability programme and, in the event of significant deviation from the adjustment path towards the medium term budgetary , the recommendation of the Commission, accompanied by an explanation of how those opinions and recommendations have been taken into account."
Amendment 251 #
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint ii
Article 1 – point 2 – subpoint b – subpoint ii
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point c
Article 3 – paragraph 2 – point c
(c) a quantitative assessment of the budgetary and other economic policy measures being taken or proposed to achieve the objectives of the programme, comprising a cost-benefit analysis of major structural reforms which have direct long- term cost-saving effects, including by raising potential growthare conductive to the achievement of the Union's jobs and smart, sustainable and inclusive growth objectives;
Amendment 260 #
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint c
Article 1 – point 2 – subpoint c
Regulation (EC) No 1466/97
Article 3 – paragraph 3
Article 3 – paragraph 3
3. The information about the paths for the general government balance and debt ratio, the growth of government expenditure, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures and its contribution to the implementation of the Union’s jobs and smart, sustainable and inclusive growth objectives, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures , government investment expenditure in line with the public investment targets set out in the framework of the European Semester, real gross domestic product (GDP) growth, employment and inflation the paths for growth and indicators of the competitiveness of the economy and the main economic assumptions referred to in paragraph 2(a), (aa) and (b) shall be on an annual basis and shall cover, the preceding year, the current year and at least the following three years.
Amendment 279 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 2
Article 5 – paragraph 1 – subparagraph 2
The Council and the Commission, when assessing the adjustment path toward the medium-term budgetary objective, shall examine if the Member State concerned pursues an appropriate annual improvement of its cyclically-adjusted budget balance, net of one-off and other temporary measures, required to meet its medium-term budgetary objective, with 0.5% of GDP as aordinary benchmark. For Member States with a high level of debt or excessive macroeconomic imbalances or both, the Councilthe Council and the Commission shall examine whether the annual improvement of the cyclicallystructurally, cyclically and long term-adjusted budget balance, net of one- off and other temporary measures is higher than 0.5% of GDP. The Councilcover the benchmark. The Council and the Commission shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort may be more limited in economic bad times.
Amendment 297 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4
Article 5 – paragraph 1 – subparagraph 4
Amendment 329 #
Proposal for a regulation – amending act
Article 1 – point 4
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 6
Article 5 – paragraph 1 – subparagraph 6
When defining the adjustment path to the medium-term budgetary objective for Member States that have not yet reached this objective and in allowing a temporary deviation from this objective for Member States that have already reached it, under the condition that an appropriate safety margin with respect to the deficit reference value is preserved and that the budgetary position is expected to return to the medium-term budgetary objective within the programme period, the Council shall take into account the implementation of major structural reforms which have direct long-term cost-saving effects, including by raising potential growth,are conducive to the achievement of the Union’s jobs and smart, sustainable and inclusive growth objectives. Special attention shall be paid to the contribution of those reforms to employment and to the refore a verifiable impact on the long-term sustainability of public financesduction of poverty. Member States implementing such reforms shall be allowed to deviate from the adjustment path to their medium-term budgetary objective or from the objective itself.
Amendment 366 #
Proposal for a regulation – amending act
Article 1 – point 5
Article 1 – point 5
1. As part of multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall monitor the implementation of stability programmes, on the basis of information provided by participating Member StatesMember States whose currency is the euro and of assessments by the Commission and, the Economic and Financial Committee, the Employment Committee and the Social Protection Committee, in particular with a view to identifying actual or expected significant divergences of the budgetary position from the medium-term budgetary objective, or from the appropriate adjustment path towards it ensuing from deviations from prudent fiscal-policy making.
Amendment 421 #
Proposal for a regulation – amending act
Article 1 – point 6 – subpoint b – subpoint i a (new)
Article 1 – point 6 – subpoint b – subpoint i a (new)
Regulation (EC) No 1466/97
Article 7 – paragraph 2 – point a a (new)
Article 7 – paragraph 2 – point a a (new)
(ia) In Article 7(2) the following point is inserted: (aa) information on the consistency of the medium-term budgetary objective with the Union’s jobs and smart, sustainable and inclusive growth objectives, the broad guidelines for the economic policies of the Member States of the Union and the guidelines for the employment policies of the Member States.
Amendment 423 #
Proposal for a regulation – amending act
Article 1 – point 6 – subpoint b – subpoint ii
Article 1 – point 6 – subpoint b – subpoint ii
Regulation (EC) No 1466/97
Article 7 – paragraph 2 – point c
Article 7 – paragraph 2 – point c
(c) a quantitative assessment of the budgetary and other economic policy measures being taken or proposed to achieve the objectives of the programme, comprising a cost-benefit analysis of major structural reforms, which have direct long- term cost-saving effects, including by raising potential growth;are conducive to the achievement of the Union’s jobs and smart, sustainable and inclusive growth objectives
Amendment 429 #
Proposal for a regulation – amending act
Article 1 – point 6 – subpoint c
Article 1 – point 6 – subpoint c
3. The information about the paths for the general government balance and debt ratio, the growth of government expenditure and its contribution to the implementation of the Union’s jobs and smart, sustainable and inclusive growth objectives, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue measures, the path for growth and indicators of competitiveness of the economy and the main economic assumptions referred to in paragraph 2(a), (aa) and (b) shall be on an annual basis and shall cover the preceding year, the current year and at least the following three years.'
Amendment 449 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 2
Article 9 – paragraph 1 – subparagraph 2
The Council and the Commission, when assessing the adjustment path toward the medium-term budgetary objective, shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort may be more limited in economic bad times. For Member States with a high level of debt or excessive macroeconomic imbalances or both, the Councilthe Council and the Commission shall examine whether the annual improvement of the cyclically-adjusted budget balance, net of one-off and other temporary measures is higher thanat least 0.5% of GDP. For ERM2 Member States, the Council and the Commission shall examine if the Member State concerned pursues an appropriate annual improvement of its cyclicallystructurally, cyclically and long-term adjusted balance, net of one-off and other temporary measures, required to meet its medium- term budgetary objective, with 0.5% of GDP as a benchmark.
Amendment 458 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 3
Article 9 – paragraph 1 – subparagraph 3
With a view to ensuring that the medium- term budgetary objective is effectively achieved and maintained, the Council and the Commission shall verify that the growth path of government expenditure, taken in conjunction with the effect of the measures being taken or proposed on the revenue side, is consistent with prudenta sustainable fiscal-policy making. and with the Union’s jobs and smart, sustainable and inclusive growth objectives
Amendment 464 #
Proposal for a regulation – amending act
Article 1 – point 8
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 4 – introductory part
Article 9 – paragraph 1 – subparagraph 4 – introductory part
Fiscal-policy making shall be considered efficient and prudent and thereby conducive to the achievement of the medium-term budgetary objective and its maintenancesustainability over time if the following conditions are satisfied: