12 Amendments of Jürgen KLUTE related to 2010/0277(NLE)
Amendment 9 #
Proposal for a directive
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The European Parliament rejects the Commission proposal.
Amendment 18 #
Proposal for a directive
Article 15
Article 15
This Directive shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Unionwhen normal economic circumstances have been re-established and once it is assured by an effective regulation of financial markets that sovereign bonds are not object to speculation anymore.
Amendment 41 #
Proposal for a directive
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The European Parliament rejects the Commission proposal.
Amendment 45 #
Recital 1
1. There is a need to build upon the experience gained during the first decade of functioning of economic and monetary union. Recent economic developments have posed new challenges to the conduct of fiscal policy across the Union and have in particular highlighted the need for uniform requirements as regards the rules and procedures formThe rules and procedures forming the budgetary frameworks of the Member States should reflect the objectives of sustainable growth and employment, and social and territorial cohesion. Recent economic developments proved that these objectives were not sufficiently considered ing the budgetary frameworks of the Member Statesconducting of fiscal policy across the Union. In particular it is necessary to specify what national authorities must do to comply with the provisions of the Protocol (No 12) on the excessive deficit procedure annexed to the Trease objectives, and in particular Article 3 thereof.
Amendment 50 #
Recital 1 a (new)
1a. Any introduction of policies of economic governance should go in line with an enhanced democratic legitimacy of the Union and should respect and consider each Member State's individual level of development and its relative economic weight inside the Union and the euro area.
Amendment 68 #
Recital 2
2. Member State governments and government sub-sectors maintain public accounting systems which include elements such as bookkeeping, internal control, financial reporting, and audit. These should be distinguished from statistical data which relate to the outcomes of government finances based on statistical methodologies, and from forecasts or budgeting actions which relate to future government finances. Involving independent or private institutions in the public accounting practices on a national or European level does not ensure the quality and reliability of the fiscal data and the transparency in assessing the macro-economic and budgetary forecasts, the Member State government's fiscal policy stance or the achievement of announced fiscal policy objectives.
Amendment 69 #
Recital 2 a (new)
2a. The case of independent or private institutions being involved in the production of statistical data, forecasts and numerical fiscal rules should be fully discussed within the Union's institutions, including Parliament.
Amendment 95 #
Recital 13
13. Member States should avoid pro- cyclical fiscal policies and fiscal consolidation efforts should be greater in good times. Well-specified numerical fiscal rules are conducive to these objectivand the Union's recommendations and coordination efforts should avoid and prevent pro- cyclical fiscal policies.
Amendment 100 #
Recital 13 a (new)
13a. For this purpose the European Monetary Fund should issue a European Growth Bond, in order to multiply the liquidity for development purposes. This will help the Member States to face the irrationality of excessively pessimistic financial markets, and this without the brutal economic conditionalities now attached to the joint Commission-IMF loans.
Amendment 101 #
Recital 13 b (new)
13b. The needs of the Member States, who have already accepted these strict conditionalities, should not be put aside.
Amendment 102 #
Recital 13 c (new)
Amendment 186 #
Article 15 – paragraph 1
This Directive shall enter into force on the twentieth day following that of its publication in the Official Journal of the Europeanwhen the following conditions have been fulfilled: - a transparent social impact assessment undertaken by the Commission has proven the appropriateness of the regulations and directives linked to the Economic Governance package for reaching the Union’s goals for growth, employment and the reduction of poverty as set out in the EU 2020 strategy; - the effective regulation of financial markets in the Union prevent macroeconomic and macrofinancial imbalances from being reinforced by external threats. This regulation shall include the European ban of short sellings and OTC derivatives as well as the introduction of a European financial transaction tax; - normal economic circumstances have been reestablished throughout the Union.;