15 Amendments of Esther DE LANGE related to 2018/0212(COD)
Amendment 47 #
Proposal for a regulation
Recital 3
Recital 3
(3) Member States should conduct their economic policies and should coordinate them in such a way as to attain the objective of strengthening economic, social, and territorial cohesion and to increase the competitiveness and resilience against economic shocks of their economies.
Amendment 52 #
Proposal for a regulation
Recital 4
Recital 4
(4) The unprecedented financial crisis and economic downturn that hit the world and the euro area has shown that in the euro area available instruments such as the single monetary policy, automatic fiscal stabilisers and discretionary fiscal policy measures at national level are insufficient to absorb large asymmetric shocks if even in times of economic upturn Member States are running fiscal deficits.
Amendment 108 #
Proposal for a regulation
Recital 14
Recital 14
(14) The activation of EISF support should therefore be determined by a non- automatic and conditional double activation trigger based on both the level of national unemployment rate compared to its past average and the change in unemployment compared to a certain threshold.
Amendment 148 #
Proposal for a regulation
Recital 22 a (new)
Recital 22 a (new)
(22a) Furthermore, a Member State is only eligible to receive EISF support if during the five years preceding and five years following the support given, it is not under the Excessive Deficit Procedure and is running a budget in line with the rules set out in the Stability and Growth Pact, including the Medium-Term Budgetary Objectives.
Amendment 168 #
Proposal for a regulation
Recital 27
Recital 27
(27) Both the determination of the amount of the national contributions to the Stabilisation Support Fund and their transfer should be governed by an intergovernmental agreement to be concluded between Member States whose currency is the euro and other Member States that participate in the exchange rate mechanism (ERM II). That agreement should provide that the national contributions for all the Member States are calculated based on the share of the national central banks of those Member States whose currency is the euro in the monetary income of the Eurosystem without any fixed or minimum share of monetary income allocated to the national central banks of the Eurosystem. For Member States which participate in ERM II a specific key should be foreseen to determine the national contributions. The Commission should assist the Member States for the calculation of those contributions. To that end, the European Central Bank (ECB) should communicate to the Commission the amount of monetary income the national central banks of the Eurosystem are entitled to.
Amendment 241 #
Proposal for a regulation
Article 3 – paragraph 1 – point a
Article 3 – paragraph 1 – point a
(a) a decision of the Council establishing that no effective action has been taken to correct its excessive deficit under Article 126(8) or Article 126(11) of the Treaty on the Functioning of the European Union in the twofive years prior to requesting support from the EISF and five years after requesting the support;
Amendment 248 #
Proposal for a regulation
Article 3 – paragraph 1 – point b
Article 3 – paragraph 1 – point b
(b) a decision of the Council in accordance with Article 6(2) or Article 10 of Council Regulation (EU) No 1466/9719 establishing that no effective action has been taken to address the observed significant deviation in the twofive years prior to requesting support from the EISF; and five years after requesting the support; _________________ 19 Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies OJ L 209, 2.8.1997, p. 1
Amendment 254 #
Proposal for a regulation
Article 3 – paragraph 1 – point c
Article 3 – paragraph 1 – point c
(c) two successive recommendations of the Council in the same imbalance procedure in accordance with Article 8(3) of Regulation (EU) No 1176/2011 of the European Parliament and of the Council20 on grounds that the Member State concerned has submitted an insufficient corrective action plan in the twofive years prior to requesting support from the EISF and five years after requesting the support; _________________ 20 Regulation (EU) No 1176/2011 of the European Parliament and of the Council of 16 November 2011 on the prevention and correction of macroeconomic imbalances OJ L 306, 23.11.2011, p. 25
Amendment 260 #
Proposal for a regulation
Article 3 – paragraph 1 – point d
Article 3 – paragraph 1 – point d
(d) two successive decisions of the Council in the same imbalance procedure in accordance with Article 10(4) of Regulation (EU) No 1176/2011 of the European Parliament and of the Council having established non-compliance by the Member State concerned on grounds that it has not taken the recommended corrective action in the twofive years prior to requesting support from the EISF and five years after requesting the support;
Amendment 270 #
Proposal for a regulation
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
1a. If the Commission concludes that the conditions referred to in paragraph 1 or 1a have not been complied with in the five years after requesting the EISF support, it shall adopt a decision: (a) requesting the early repayment of whole or part of the EISF loan, as appropriate; and (b) deciding that upon repayment of EISF loan the Member State concerned shall not be entitled to receive the interest rate subsidy.
Amendment 271 #
Proposal for a regulation
Article 3 – paragraph 1 b (new)
Article 3 – paragraph 1 b (new)
1b. If repayment of the loan as referred to in paragraph 1b has not taken place in a timely manner, the Council may, on a proposal from the Commission, decide to take or intensify one or more of the following measures: - to require the Member State concerned to publish additional information, to be specified by the Council, before issuing bonds and securities; - to invite the European Investment Bank to reconsider its lending policy towards the Member State concerned; - to require the Member State concerned to make a non-interest-bearing deposit of an appropriate size with the Union until the loan has been fully repaid; - to impose fines of an appropriate size. The President of the Council shall inform the European Parliament of the decisions taken.
Amendment 286 #
Proposal for a regulation
Article 4 – paragraph 1 – point a
Article 4 – paragraph 1 – point a
(a) the quarterly national unemployment rate exceeded by more than one percentage point the average unemployment rate in the Member State concerned over a period of 60 quarters preceding the quarter during which the request is made;
Amendment 291 #
Proposal for a regulation
Article 4 – paragraph 1 – point b
Article 4 – paragraph 1 – point b
(b) the quarterly national unemployment rate increased above onetwo percentage points in comparison to the unemployment rate observed in same quarter of the previous year.
Amendment 355 #
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
The outstanding amount of loans granted to Member States under this Regulation shall be limited to EUR 3025 billion in principal.
Amendment 430 #
Proposal for a regulation
Article 17 – paragraph 2 – point a
Article 17 – paragraph 2 – point a
(a) contributions from Member States in accordance with the agreement;, excluding any fixed or minimum share of monetary income allocated to the national central banks of the Eurosystem pursuant to Article 32 of Protocol No 4 on the Statute of the European System of Central Banks and the European Central Bank1a; _________________ 1a OJ C 202, 7.6.2016, p. 230.