9 Amendments of Antolín SÁNCHEZ PRESEDO related to 2010/0281(COD)
Amendment 54 #
Proposal for a regulation
Recital 1
Recital 1
(1) The coordination of the economic policies of the Member States within the Union, as provided for 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 66 #
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2a) 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 126 #
Proposal for a regulation
Recital 11
Recital 11
(11) When assessing imbalances, account should be taken of their causes, of their severity, of the degree to which they may be considered unsustainable and of the potential negative economic and financial spillovers to other Member States. The economic adjustment capacity and tstructural or short-term nature of imbalances as well as the national, Union or external character of their causes needs to be understood. Inter-linkages between policy options by different Member States as well as spill-over effects should be adequately taken into account. Where appropriate, sustainable measures adopted by other Member States or by the EU that could contribute to the solution should be identified. The track record of the Member State concerned as regards compliance with earlier recommendations issued under this Regulation and other recommendations issued under Article 121 of the Treaty as part of multilateral surveillance, in particular the broad guidelines for the economic policies of the Member States and of the Union, and the consequences of such recommendations should also be considered.
Amendment 138 #
Proposal for a regulation
Recital 11 a (new)
Recital 11 a (new)
(11a) Measures proposed to a given Member State for correcting imbalances should take into account the objectives of a Union strategy for jobs and smart, sustainable and inclusive growth and the need to use such a strategy as an instrument for sustainable internal cohesion, contributing to making the Union the most competitive economy in the world. The medium-term growth and primary balance targets of the "catching- up countries" should be taken into consideration
Amendment 178 #
Proposal for a regulation
Article 2 – paragraph 1 – point a
Article 2 – paragraph 1 – point a
(a) '‘imbalances‘’ means macroeconomic developments which areincluding unsustainable competitiveness trends which persistently reduce internal equilibriums and increase divergences among Member States adversely affecting, or haveing the potential adversely to affectto affect adversely, the proper functioning of the economy of a Member State or, of economic and monetary union, or of the Union as a whole.
Amendment 240 #
Proposal for a regulation
Article 3 – paragraph 3 a (new) – introductory part (new)
Article 3 – paragraph 3 a (new) – introductory part (new)
3a. The Commission shall adopt, by means of delegated acts in accordance with Article -12a, and subject to the conditions of Articles -12b and -12c, measures setting the list of relevant indicators to be included in the scoreboard and of the relevant thresholds. The list of indicators shall include, among others the following sets of indicators:
Amendment 241 #
Proposal for a regulation
Article 3 – paragraph 3 a (new) – point b (new)
Article 3 – paragraph 3 a (new) – point b (new)
(b) internal imbalances, including private and public debt, its evolution, maturity and net position; demographic trends; internal income inequalities; unemployment rates; asset price developments with particular attention to real estate and financial markets; housing ownership rates, pension funds and other long-term assets and liabilities
Amendment 242 #
Proposal for a regulation
Article 3 – paragraph 3 a (new) – point b (new)
Article 3 – paragraph 3 a (new) – point b (new)
(b) external imbalances, including current and capital account composition, balance and evolution; the evolution of export market shares in Union and third-country markets; net foreign assets and liabilities positions; emissions and energy dependence
Amendment 265 #
Proposal for a regulation
Article 4 – paragraph 4
Article 4 – paragraph 4
4. As part of the multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall discuss and adopt conclusions on the Commission report. The competent committee of the European Parliament may organise hearings and public debates on the Commission report. The Euro Group shall discuss the report as far as it relates, directly or indirectly, to Member States whose currency is the euro. Excessive imbalance should also trigger, where appropriate, the involvement of the ESRB or/and the relevant European Supervisory Authority