25 Amendments of Philippe LAMBERTS related to 2010/0276(CNS)
Amendment 56 #
Proposal for a regulation – amending act
Recital 1
Recital 1
(1) The coordination of the economic policies of the Member States within the Union, as provided by the Treaty, should entail compliance with the guiding principles of social cohesion, stable prices, soundustainable public finances and monetary conditions and a sustainable balance of payments.
Amendment 61 #
Proposal for a regulation – amending act
Recital 2 a (new)
Recital 2 a (new)
Amendment 63 #
Proposal for a regulation – amending act
Recital 2 b (new)
Recital 2 b (new)
(2b) This Regulation does not affect the exercise of fundamental rights as recognised in the Member States and by Union law. Nor does it affect the right to negotiate, conclude and enforce collective agreements and to take industrial action in accordance with national law and practices which respect Union law.
Amendment 72 #
Proposal for a regulation – amending act
Recital 3
Recital 3
(3) The Stability and Growth Pact is based on the objective of soundustainable government finances as a means of strengthening the conditions for price stability and for strong sustainable growth underpinned by financial stability and conducive to employment creation.
Amendment 123 #
Proposal for a regulation – amending act
Recital 6
Recital 6
(6) Implementing the existing excessive deficit procedure on the basis of both the deficit criterion and the debt criterion requires defining a numerical benchmark against which to assess whether the ratio of government debt to gross domestic product is sufficiently diminishing and approaching the reference value at a satisfactory pace, or is deemed in situation of temporary excess to the sufficiently diminishing path. The whole range of relevant factors shall be taken into account in the assessment.
Amendment 129 #
Proposal for a regulation – amending act
Recital 7 a (new)
Recital 7 a (new)
(7a) Expenditures devoted to investments aiming at generating sustainable potential output growth of the EU while alleviating the burdens on future generations will be explicitly taken into account in the overall assessment of compliance with country specific medium-term objectives and under certain ceiling, conditions not added to the total amount of the reference values.
Amendment 147 #
Proposal for a regulation – amending act
Recital 11
Recital 11
(11) The assessment of effective action will benefit from taking compliance with general government expenditure and tax revenue targets as a reference in conjunction with the implementation of other planned specific revenue measures.
Amendment 151 #
Proposal for a regulation – amending act
Recital 13
Recital 13
(13) It is appropriate to step up the application of the financial sanctions envisaged by Article 126(11) of the Treaty so that they constitute a realas well as incentives for compliance with the notices under Article 126(9).
Amendment 154 #
Proposal for a regulation – amending act
Recital 14
Recital 14
(14) In order to ensure compliance with the fiscal surveillance framework of the Union for participating Member States, rules- based sanctions and incentives should be designed on the basis of Article 136 of the Treaty, ensuring fair, timely and effective mechanisms for compliance with the Stability and Growth pact rules.
Amendment 181 #
Proposal for a regulation – amending act
Article 1 – point 2 – point b
Article 1 – point 2 – point b
Regulation (EC) No 1467/97
Article 2 – paragraph 1a
Article 2 – paragraph 1a
1a. When it exceeds the reference value, the ratio of the government debt to gross domestic product (GDP) is to be considered sufficiently diminishing and approaching the reference value at a satisfactory pace in accordance with Article 126 (2) (b) of the Treaty if the differential with respect to the reference value has reduced over the previous three years at a rate of the order of one-twentieth per year. For a period of 3 years from [date of entering into force of this Regulation - to be inserted], account shall be taken of the backward-looking nature of this indicator in its application. provided that the gross domestic product (GDP) has been growing at its potential rate during two years before the year of reference. Absent this condition the ratio of government debt to GDP shall be considered as in situation of temporary excess to the sufficiently diminishing path provided that the Member State complies with the sustainable fiscal policy-making rule as defined in Regulation 1466/97. If the Member State is considered to be in a situation of temporary excess to the sufficiently diminishing path the excessive deficit procedure shall not be activated. For a period of 3 years from [date of entering into force of this Regulation - to be inserted], account shall be taken of the backward-looking nature of this indicator in its application. For the purpose of this Regulation net government financial liabilities as defined by the OECD shall be explicitly taken into account in the overall assessment of mitigating or aggravating factors relating to government debt to gross domestic product.
Amendment 187 #
Proposal for a regulation – amending act
Article 1 – point 2 – point b a (new)
Article 1 – point 2 – point b a (new)
Regulation (EC) No 1467/97
Article 2 – paragraph 2
Article 2 – paragraph 2
(ba) paragraph 2 is amended as follows: The Commission and the Council, when assessing and deciding upon the existence of an excessive deficit in accordance with Article 126(3) to (6) of the Treaty, shall consider an excess over the reference value resulting from a severe economic downturn as exceptional in the sense of the second indent of Article 126(2)(a) if the excess over the reference value results from a negative annual GDP volume growth rate or from an accumulated loss of output during a protracted period of very low annual GDP volume growth relative to its potential.
Amendment 197 #
Proposal for a regulation – amending act
Article 1 – point 2 – point c
Article 1 – point 2 – point c
Regulation (EC) No 1467/97
Article 2 – paragraph 3
Article 2 – paragraph 3
3. The Commission, when preparing a report under Article 126(3) of the Treaty shall take into account all relevant factors as indicated in that Article. The report shall appropriately reflect developments in the medium-term social and economic position (in particular potential growth, prevailing cyclical conditions, unemployment rates, inflation, excessive macroeconomic imbalances) and developments in the medium-term budgetary position (in particular, fiscal consolidation efforts in “good times”, public investment, the implementation of policies in the context of the common growth strategy for the Union and the overall quality of public finances, in particular, compliance with Council Directive […] on requirements for budgetary frameworks of the Member States). The report shall also analyse developments in the medium-term debt position as relevant (in particular, it appropriately reflects risk factors including the maturity structure and currency denomination of the debt, stock-flow operations, accumulated reserves and other government assets; guarantees, notably linked to the financial sector; liabilities both explicit and implicit related to ageing and private debt to the extent that it may represent a contingent implicit liability for the government). Furthermore, the Commission shall give due consideration to any other factors which, in the opinion of the Member State concerned, are relevant in order to comprehensively assess in qualitative terms the excess over the reference value and which the Member State has put forward to the Commission and to the Council. In that context, special and explicit consideration shall be given to financial contributions to fostering international solidarity and to achieving Union policy goals, including financial stability. Special and explicit consideration shall also be given to the financial burden related to recapitalisation operations and other temporary State aid measures for the financial sector during the crisis and loans and guarantees granted to other Member States and to the European Stability Mechanism.
Amendment 204 #
Proposal for a regulation – amending act
Article 1 – point 2 – point d
Article 1 – point 2 – point d
Regulation (EC) No 1467/97
Article 2 – paragraph 4
Article 2 – paragraph 4
4. The Commission and the Council shall make a balanced overall assessment of all the relevant factors, specifically, the extent to which they affect the assessment of compliance with the deficit and/or the debt criteria as aggravating or mitigating factors. When assessing compliance on the basis of the deficit criterion, if the ratio of the government debt to GDP exceeds the reference value, these factors shall be taken into account in the steps leading to the decision on the existence of an excessive deficit provided for in paragraphs 4, 5 and 6 of Article 126 of the Treaty only if the double condition of the overarching principle — that, before these relevant factors are taken into account, the general government deficit remains close to the reference value and its excess over the reference value is temporary — is fully met.
Amendment 207 #
Proposal for a regulation – amending act
Article 1 – point 2 – point d a (new)
Article 1 – point 2 – point d a (new)
Regulation (EC) No 1467/97
Article 2 – paragraph 4 a (new)
Article 2 – paragraph 4 a (new)
4 a. Expenditures allocated to investments aiming at generating sustainable potential output growth of the EU while alleviating the burdens on future generations will be explicitly taken into account as mitigating factors and under certain ceiling conditions not be added to the total amount of the reference values in accordance with Article 126(3) to (6) of the Treaty. The ceiling conditions, list and selection criteria related to these projects shall be specified by means of delegated acts according to articles 10a to 10d of regulations 1466/97
Amendment 208 #
Proposal for a regulation – amending act
Article 1 – point 2 – point d a (new)
Article 1 – point 2 – point d a (new)
Regulation (EC) No 1467/97
Article 2 – paragraph 5
Article 2 – paragraph 5
Amendment 214 #
Proposal for a regulation – amending act
Article 1 – point 2 – point d b (new)
Article 1 – point 2 – point d b (new)
Regulation (EC) No 1467/97
Article 2 – paragraph 6
Article 2 – paragraph 6
(db) Paragraph 6 is amended as follows: 6. If the Council has decided, on the basis of Article 126(6) of the Treaty, that an excessive deficit exists in a Member State, the Commission and the Council shall take into account the relevant factors mentioned in paragraph 3 and 4b also in the subsequent procedural steps of Article 126, including as specified in Articles 3(5) and 5(2) of this Regulation. However those relevant factors shall not be taken into account for the decision of the Council under Article 126(12) of the Treaty on the abrogation of some or all of its decisions under paragraphs 6 to 9 and 11 of Article 126.
Amendment 228 #
Proposal for a regulation – amending act
Article 1 – point 3 – point a
Article 1 – point 3 – point a
Regulation (EC) No 1467/97
Article 3 – paragraph 2
Article 3 – paragraph 2
2. Taking fully into account the opinion referred to in paragraph 1, the Commission, if it considers that an excessive deficit exists, shall address an opinion and a proposalrecommendation to the Council in accordance with Article 126(5) and (6) of the Treaty.
Amendment 249 #
Proposal for a regulation – amending act
Article 1 – point 3 – point e
Article 1 – point 3 – point e
Regulation (EC) No 1467/97
Article 3 – paragraph 5
Article 3 – paragraph 5
5. If effective action has been taken in compliance with a recommendation under Article 126(7) of the Treaty and a severe economic downturn or unexpected adverse economic events with major unfavourable consequences for government finances occur after the adoption of that recommendation, the Council may decide, on a recommendation from the Commission, to adopt a revised recommendation under Article 126(7) of the Treaty. The revised recommendation, taking into account the relevant factors mentioned in Article 2(3) of this Regulation, may notably extend the deadline for the correction of the excessive deficit by one year as a rule. The Council shall assess the existence of a severe economic downturn or unexpected adverse economic events with major unfavourable consequences for government finances against the economic forecasts in its recommendation. The Council may also decide, on a recommendation from the Commission, to adopt a revised recommendation under Article 126(7) of the Treaty in case of a severe economic downturn of a general nature, or in case of an expected economic recession.
Amendment 256 #
Proposal for a regulation – amending act
Article 1 – point 5 – point a
Article 1 – point 5 – point a
Regulation (EC) No 1467/97
Article 5 – paragraph 1
Article 5 – paragraph 1
1. Any Council decision to give notice to the participating Member State concerned to take measures for the deficit reduction in accordance with Article 126(9) of the Treaty shall be taken within two months of the Council decision establishing that no effective action has been taken in accordance with Article 126(8). In the notice, the Council shall request that the Member State achieve annual budgetary targets which, on the basis of the forecast underpinning the notice, are consistent with a minimum annual improvement of at least 0,5 % of GDP as a benchmark, in its cyclically adjusted balance net of one-off and temporary measures, in order to ensure the correction of the excessive deficit within the deadline set in the notice. The Council shall also indicate measures conducive to the achievement of these targets.
Amendment 270 #
Proposal for a regulation – amending act
Article 1 – point 5 – point c
Article 1 – point 5 – point c
Regulation (EC) No 1467/97
Article 5 – paragraph 2
Article 5 – paragraph 2
2. If effective action has been taken in compliance with a notice under Article 126(9) of the Treaty and unexpected adverse economic events with major unfavourable consequences for government finances occur after the adoption of that notice, the Council may decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) of the Treaty. The revised notice, taking into account the relevant factors mentioned in Article 2(3) of this Regulation, may notably extend the deadline for the correction of the excessive deficit by one year as a rule. The Council shall assess the existence of unexpected adverse economic events with major unfavourable consequences for government finances against the economic forecasts in its notice. The Council may also decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) of the Treaty in case of a severe economic downturn of a general natureaffecting the smooth functioning of economic and monetary union.
Amendment 285 #
Proposal for a regulation – amending act
Article 1 – point 11
Article 1 – point 11
Regulation (EC) No 1467/97
Article 11
Article 11
Whenever the Council decides to apply sanctions to a participating Member State in accordance with Article 126(11) of the Treaty, a finenon-interest-bearing deposit shall, as a rule, be required. The Council may decide to supplement this finedeposit by the other measures provided for in Article 126(11) of the Treaty.
Amendment 289 #
Proposal for a regulation – amending act
Article 1 – point 12
Article 1 – point 12
Regulation (EC) No 1467/97
Article 12 – paragraph 1
Article 12 – paragraph 1
1. The amount of the finedeposit shall comprise a fixed component equal to 0,2 % of GDP, and a variable component. The variable component shall amount to one tenth of the difference between the deficit as a percentage of GDP in the preceding year and either the reference value for government deficit or, if non compliance with budgetary discipline includes the debt criterion, the general government balance as a percentage of GDP that should have been achieved in the same year according to the notice issued under Article 126(9) of the Treaty. In case of severe economic downturn the Council may delay the application of the sanction already decided for a period deemed appropriated after taking into account all relevant factors .
Amendment 299 #
Proposal for a regulation – amending act
Article 1 – point 12
Article 1 – point 12
Regulation (EC) No 1467/97
Article 12 – paragraph 3
Article 12 – paragraph 3
3. Any single finedeposit referred to in paragraphs 1 and 2 shall not exceed the upper limit of 0,5 % of GDP.
Amendment 305 #
Proposal for a regulation – amending act
Article 1 – point 14
Article 1 – point 14
Regulation (EC) No 1467/97
Article 16
Article 16
Fines referred to in Article 12 of this Regulation shall constitute other revenue referred to in Article 311 of the Treaty and shall be distributed among participating Member States which do not have excessive deficit as determined in accordance with Article 126(6) of the Treaty and which are not the subject of an excessive imbalance procedure within the meaning of Regulation (EU) No […/…], in proportion to their share in the total gross national income (GNI) of the eligible Member Statesused as guarantees for EU relevant projects financed by the European Investment Bank in conformity with provisions of Protocol No 5 of the Treaty.
Amendment 313 #
Proposal for a regulation – amending act
Article 2 – paragraph 1
Article 2 – paragraph 1
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.first of January 2013