8 Amendments of Sharon BOWLES related to 2010/0278(COD)
Amendment 64 #
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 for sustainable growth and jobs built upon a sound Union strategy for growth and jobs, with particular focus upon development and strengthening of the Single Market, fostering of international trade links and competitiveness, 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) and a credible permanent crisis resolution mechanism.
Amendment 71 #
Proposal for a regulation
Recital 2 b (new)
Recital 2 b (new)
(2b) The Stability and Growth Pact and the complete economic governance framework should complement and be compatible with a Union strategy for growth and jobs which aims at boosting the Union's competitiveness and social stability and takes into consideration the development and strengthening of the Single Market and fostering international trade links.
Amendment 80 #
Proposal for a regulation
Recital 2 c (new)
Recital 2 c (new)
(2c) Achieving and maintaining a dynamic Single Market shall be considered an element of the proper and smooth functioning of economic and monetary union.
Amendment 170 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12a) Sovereign debt in a currency union has differing dynamics to those of independent currencies. Maintenance of the preferential treatment of Eurozone Sovereign debt should therefore be reviewed and where there is an instance of non-compliance with the Stability and Growth Pact under regulation (EC) 1466/97 and Regulation (EC) 1467/97 restricted or withdrawn, as a disciplinary measure to address excessive macroeconomic imbalances and observance of the Stability and Growth Pact.
Amendment 205 #
Proposal for a regulation
Article 2 a (new)
Article 2 a (new)
Article 2a There shall be a Permanent Stability Mechanism for the stability of the Euro area and participating Member States. Sovereign debt may be raised via the mechanism for any participating Member State subject to prioritisation rules. Conditions shall apply depending upon the level of compliance with the Stability and Growth pact and macroeconomic balance. Conditions may include posting of collateral returnable periodic payments, or a programme of enhanced surveillance, additional reporting requirements and inspections.
Amendment 209 #
Proposal for a regulation
Article 2 b (new)
Article 2 b (new)
Article 2b Loans from EFSF, ESM or the Permanent Stability Mechanism shall charge interest based on cost. Additional returnable risk premiums or returnable periodic payments may also be levied and refunded on discharge of the loan or other agreed earlier time.
Amendment 286 #
Proposal for a regulation
Article 5 a (new)
Article 5 a (new)
Article 5a Treatment of sovereign Debt in Capital Requirements 1. When a warning has been issued under Article 1paragraph 1 point 5 (new) of the amendment of Regulation (EC) 1466/97 or a Member State is subject to procedures under Articles 3, 4 or 5, the sovereign debt of that Member State held by any financial institution subject to EU regulation shall no longer be eligible: a) for zero risk weighting in respect of capital requirements, b) as liquid assets c) for exclusions from prohibition and concentration rules on asset holdings. Directives and Regulations shall be amended accordingly. 2. The Commission may apply this provision as an alternative or at an earlier stage to fines or deposits. The Commission may also recommend a partial or phased withdrawal of the eligibility
Amendment 297 #
Proposal for a regulation
Article 7 a (new)
Article 7 a (new)
Article 7a Meeting Between Parliaments Whenever there is an invitation to a meeting between the competent committee of the European Parliament and a Member State to explain a position, required action or divergence from the requirements herein, the meeting shall be convened under the auspices of one of: a) the European Parliament b) the Member State Parliament or c) the Rotating Presidency Parliament