Activities of Anneli JÄÄTTEENMÄKI related to 2015/0009(COD)
Plenary speeches (2)
European Fund for Strategic Investments (A8-0139/2015 - José Manuel Fernandes, Udo Bullmann) FI
European Fund for Strategic Investments (A8-0139/2015 - José Manuel Fernandes, Udo Bullmann) FI
Amendments (37)
Amendment 77 #
Proposal for a regulation
Title 1
Title 1
Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the European Fund for Strategic Investments and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013
Amendment 100 #
Proposal for a regulation
Recital 19
Recital 19
(19) In order to allow for further increase in its resources, participation in the EFSI should be open to third parties, including Member States, national promotional banks or public agencies owned or controlled by Member States, private sector entities and entities outside the Union subject to the consent of existing contributors. Third parties may contribute directly to the EFSI and take part in the EFSI governance structure.
Amendment 155 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The EFSI Agreement shall be open to accession by Member States. Subject to the consent of existing contributors, the EFSI Agreement shall also be open to accession by other third parties, including national promotional banks or public agencies owned or controlled by Member States, and private sector entities. The Member States and other third parties may not take part in the EFSI governance structure.
Amendment 160 #
Proposal for a regulation
Recital 9
Recital 9
(9) The investment environment within the Union should be improved by removing barriers to investment, reinforcing the Single Market and by enhancing regulatory predictability, in particular by completing the opening of the digital, transport, energy and telecoms markets . The work of the EFSI, and investments across Europe generally, should benefit from this accompanying work.
Amendment 179 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1
Article 3 – paragraph 2 – subparagraph 1
Amendment 181 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 1
Article 3 – paragraph 3 – subparagraph 1
Amendment 182 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 2
Article 3 – paragraph 3 – subparagraph 2
Amendment 184 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3
Article 3 – paragraph 3 – subparagraph 3
No decision of the Steering Board shall be adopted if the Commission or the EIB votes against it.
Amendment 189 #
Proposal for a regulation
Article 3 – paragraph 4 – subparagraph 3
Article 3 – paragraph 4 – subparagraph 3
The Managing Director and the Deputy Managing Director shall be appointed by the Steering Board on a joint proposal of the Commission and the EIB for a renewable fixed term of three years and not exceeding 6 years in total. The Managing Director and the Deputy Managing Director shall be appointed following an open and transparent selection procedure.
Amendment 196 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of six independent experts and the Managing Director who shall perform their duties impartially. Independent experts shall have a high level of relevant market experience in project finance and be appointed by the Steering Board for a renewable fixed term of three years and not exceeding 6 years in total. The experts of the Investment Committee shall be appointed following an open and transparent selection procedure.
Amendment 288 #
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
The EU guarantee and the payments and recoveries under it that are attributable to the general budget of the Union and the operations carried out under the EFSI shall be audited by the Court of Auditors.
Amendment 290 #
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should target projects with a higher risk-return profile than existing EIB and Union instruments to ensure additionality over existing operations. The EFSI should aim at financeing projects across the Union, including in the countries most affected by the financial criswhole of the Union by taking into account the criteria of additionality and high-risk-profile in its investment policies i.e. by ensuring that selected projects are projects which could not have found a financing on the market otherwise. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 310 #
Proposal for a regulation
Recital 16
Recital 16
(16) The EFSI should target investments that are expected to be economically and technically viable, which may entail a high degree of appropriate risk, whilst still meeting the particular requirements for EFSI financing.
Amendment 373 #
Proposal for a regulation
Recital 19
Recital 19
(19) In order to allow for further increase in its resources, participation in the EFSI should be open to third parties, including Member States, national promotional banks or public agencies owned or controlled by Member States, private sector entities and entities outside the Union subject to the consent of existing contributors. Third parties may contribute directly to the EFSI and take part in the EFSI governance structure.
Amendment 453 #
Proposal for a regulation
Recital 27
Recital 27
(27) In order to cover the risks related to the EU guarantee to the EIB, a guarantee fund should be established. The guarantee fund should be constituted by a gradual paymentcontribution from the Union budget. The guarantee fund should subsequently also receive revenues and repayments from projects that benefit from EFSI support and amounts recovered from defaulting debtors where the guarantee fund has already honoured the guarantee to the EIB.
Amendment 479 #
Proposal for a regulation
Recital 29
Recital 29
(29) To partially finance the contribution from the Union budget, the available envelopes of the Horizon 2020 – the Framework Programme for Research and Innovation 2014-2020, provided by Regulation (EU) No 1291/2013 will be progressively authorised by a decision of the European Parliament and of the Council2 , and the Connecting Europe Facility, provided by Regulation (EU) No in the framework of the annual budgetary procedures up to 2020, using in priority all provisions under Council regulation (EU, Euratom) n°13161/2013 of the European Parliament and of the Council3 , should be reduced. Those programmes serve purposes that are not replicated by the EFSI. However, the reduction of both programmes to finance the guarantee fund is expected to ensure a grealaying down the multiannual financial framework for the years 2014- 2020, in particular its articles 5, 11, 13 and 14, as well as any budgetary surplus entered investment in certain areas of their respective mandates than is possible through the existing programmes. The EFSI should be able to leverage the EU guarantee to multiply the financial effect within thto the general budget of the European Union, and avoiding to affect programmes that already serve an investment purpose, areas of research, development and innov operational and transport, telecommunications and energy infrastructure compared to if the resources had been spent via grants within the planned Horizon 2020 and Connecting Europe Facility programmes. It is, therefore, appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of EFSI. __________________ 3Regulation (EU) No 1316/2013 of the European Parliament and of the Coucontain a possibility to use innovative financial instruments. Therefore, envelops of programmes under the sub-heading 1A of the multiannual financial of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010 (OJ L 348, 20.12.2013, p. 129)framework could be reduced only if proved necessary and as a last resort solution.
Amendment 523 #
Proposal for a regulation
Recital 35
Recital 35
(35) In order to ensure an appropriate coverage of the EU guarantee obligations and to ensure the continued availability of the EU guarantee, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission with respect to the adjustment of the amounts to be paid in from the general budget of the Union and to amend Annex I accordingly. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. The Commission, when preparing and drawing up delegated acts, should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and to the Council.
Amendment 596 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The EFSI Agreement shall be open to accession by Member States. Subject to the consent of existing contributors, the EFSI Agreement shall also be open to accession by other third parties, including national promotional banks or public agencies owned or controlled by Member States, and private sector entities. The Member States and other third parties may not take part in the EFSI governance structure.
Amendment 784 #
Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1
Article 3 – paragraph 2 – subparagraph 1
Amendment 795 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 1
Article 3 – paragraph 3 – subparagraph 1
Amendment 802 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 2
Article 3 – paragraph 3 – subparagraph 2
Amendment 805 #
Proposal for a regulation
Article 3 – paragraph 3 – subparagraph 3
Article 3 – paragraph 3 – subparagraph 3
No decision of the Steering Board shall be adopted if the Commission or the EIB votes against it.
Amendment 825 #
Proposal for a regulation
Article 3 – paragraph 4 – subparagraph 3
Article 3 – paragraph 4 – subparagraph 3
The Managing Director and the Deputy Managing Director shall be appointed by the Steering Board on a joint proposal of the Commission and the EIB for a renewable fixed term of three years and not exceeding 6 years in total. The Managing Director and the Deputy Managing Director shall be appointed following an open and transparent selection procedure.
Amendment 860 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of six independent experts and the Managing Director who shall perform their duties impartially. Independent experts shall have a high level of relevant market experience in project finance and be appointed by the Steering Board for a renewable fixed term of three years and not exceeding 6 years in total. The experts of the Investment Committee shall be appointed following an open and transparent selection procedure.
Amendment 942 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point a
Article 5 – paragraph 2 – subparagraph 1 – point a
(a) development of infrastructure, including in the areas of transport, particularly in industrial centres; energy, in particular energy interconnections; and digital and telecoms infrastructure;
Amendment 1126 #
Proposal for a regulation
Article 8 – paragraph 2 – point a
Article 8 – paragraph 2 – point a
(a) paymentcontributions from the general budget of the Union,
Amendment 1134 #
Proposal for a regulation
Article 8 – paragraph 2 – point d
Article 8 – paragraph 2 – point d
(d) any other paymentcontributions received by the Union in accordance with the EFSI Agreement.
Amendment 1138 #
Proposal for a regulation
Article 8 – paragraph 3
Article 8 – paragraph 3
3. Endowments to the guarantee fund provided for in points (b), (c) and (d) of paragraph 2 shall constitute internal assigned revenues in accordance with Article 21(4) of Regulation (EU) No 966/2012.
Amendment 1148 #
Proposal for a regulation
Article 8 – paragraph 5 – subparagraph 2
Article 8 – paragraph 5 – subparagraph 2
The target amount shall initially be met by the gradual paymentmobilisation of resources referred to in paragraph 2(a). If there have been calls on the guarantee during the initial constitution of the guarantee fund, endowments to the guarantee fund provided for in points (b), (c) and (d) of paragraph 2 shall also contribute to meet the target amount up to an amount equal to the calls on the guarantee.
Amendment 1155 #
Proposal for a regulation
Article 8 – paragraph 5 a (new)
Article 8 – paragraph 5 a (new)
5a. Without prejudice to Article 8(5), the initial target amount shall be met by gradual budgetary contributions to the guarantee fund, to be decided by the budgetary authority in the frame of the annual budgetary procedures up to 2020, making use in priority of all means available under Council regulation 1311/2013 of 2 December 2013 laying down the multiannual Financial Framework 2014-2020, in particular article 5, 11, 13, 14, as well as any budgetary surplus entered in the general budget of the European Union. If needed, as a last resort solution and in full respect of point 17 and 18 of the Interinstitutional Agreement of 2 December 2013, on cooperation in budgetary matters and on sound financial management, funds from multiannual programmes under heading 1A may be redeployed to the guarantee fund if these programmes prove to be under- implemented.
Amendment 1157 #
Proposal for a regulation
Article 8 – paragraph 5 b (new)
Article 8 – paragraph 5 b (new)
5b. The financing of the EU contribution to the guarantee fund shall be reviewed in the frame of the post-electoral review and revision of the multiannual financial framework due to be launched by the end of 2016 at the latest as foreseen in article 2 of Council regulation 1311/2013, of 2 December 2013, laying down the MFF 2014-2020.
Amendment 1168 #
Proposal for a regulation
Article 8 – paragraph 7 – point a
Article 8 – paragraph 7 – point a
(a) any surplus shall be paid in one transaction to a special heading in the statement of revenue in the general budget of the European Union of the year n+1, and shall be reallocated to programmes which envelopes might have been reduced to finance the guarantee fund, as referred to in paragraph 5a (new), in order to compensate these losses;
Amendment 1277 #
Proposal for a regulation
Article 10 – paragraph 6
Article 10 – paragraph 6
6. The Commission shall, by 30 June of each year, send to the European Parliament, the Council and the Court of Auditors an annual report ondetailing the situation of the guarantee fund and the management thereof in the previous calendar year, and the compliance with articles 5, 7 and 8 of this regulation.
Amendment 1352 #
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
The EU guarantee and the payments and recoveries under it that are attributable to the general budget of the Union and the operations carried out under the EFSI shall be audited by the Court of Auditors.
Amendment 1397 #
Proposal for a regulation
Article 18
Article 18
Regulation (EU) N°1291/2013
Article 6 – paragraphs 1, 2 and 3
Article 6 – paragraphs 1, 2 and 3
Amendment 1440 #
Proposal for a regulation
Article 19
Article 19
Regulation (EU) N°1316/2013
Article 5, paragraph 1
Article 5, paragraph 1
Amendment to Regulation (EU) No In Article 5 of Regulation (EU) No 1316/2013, paragraph 1 is replaced by the following: ‘ 1. The financial envelope for the implementation of the CEF for the period 2014 to 2020 is set at EUR 29 942 259 000 (*) in current prices. That amount shall be distributed as follows: (a) transport sector: EUR 23 550 582 000, of which EUR 11 305 500 000 shall be transferred from the Cohesion Fund to be spent in line with this Regulation exclusively in Member States eligible for funding from the Cohesion Fund; (b) telecommunications sector: EUR 1 041 602 000; (c) energy sector: EUR 5 350 075 000. These amounts are without prejudice to the application of the flexibility mechanism provided for under Council Regulation (EU, Euratom) No 1311/2013(*). (*) Council Regulation (EU, Euratom) No 1311/2013 of 2 December 2013 laying down the multiannual financial framework for the years 2014-20 (OJ L 347, 20.12.2013, p. 884). ’rticle 19 deleted 1316/2013
Amendment 1472 #
Proposal for a regulation
Annex I
Annex I