[ParlTrack]

Constance LE GRIP, Andreas SCHWAB, Philippe JUVIN, Jürgen CREUTZMANN

Draft opinion
Paragraph 9

9. Not to make the following recommendation: ‘launch the Excessive Deficit Procedure (EDP)/Excessive Debt Surveillance Procedure (EDSP) on the basis of gross debt levels. The EDF/EDSP including detailed regular reports on the debt dynamics and development, would be triggered for all Member States in which government debt level exceeds the 60% threshold and is not diminishing at satisfactory pace. The EDP would be on ‘stand-still’ as long as the country fulfils its MTFO and would be abrogated once the debt level is below 60.’ (deletion of Recommendation 2, Indent 1),deleted

2010/09/22
Committee: IMCO

Constance LE GRIP, Andreas SCHWAB, Philippe JUVIN, Jürgen CREUTZMANN

Draft opinion
Paragraph 15

15. Rapid creation of a European Debt Agency by pooling part of Member States’ national public debt into a common system with a mutual guarantee, which would issue new debt at a single interest rate, thereby reducing the risk of speculative attacks as seen in the case of Greece. This agency could also issue collective public debt (Eurobonds) to finance specific European investment projects, ideally via the EU budget (Recommendation 4, new indent),deleted

2010/09/22
Committee: IMCO

Constance LE GRIP, Andreas SCHWAB, Damien ABAD, Philippe JUVIN, Jürgen CREUTZMANN

Draft opinion
Paragraph 15 a (new)

15a. Ask the Commission to consider setting up a ‘European Monetary Fund’ to complement the Stability and Growth Pact in its function of controlling the budget situation in Member States. The fund could be financed by contributions from the euro area countries, pro rata with GDP, and fines proportionate to levels of debt and deficit. The Member States could request assistance from the fund to a level equivalent to their contributions to it,

2010/09/22
Committee: IMCO

Constance LE GRIP, Andreas SCHWAB, Damien ABAD, Philippe JUVIN, Jürgen CREUTZMANN

Draft opinion
Paragraph 18 a (new)

18a. As well as aligning national budget timetables, and in the context of the ‘Union Semester’, ensure better working coordination between the European Parliament, with its enhanced budgetary powers, and the national parliaments. The Council and the Commission should consult Parliament on the broad economic policy guidelines, on the employment guidelines and on the indicators used as a basis for national reform programmes.

2010/09/22
Committee: IMCO

4 Amendments of Philippe JUVIN related to 2010/2099(INI)

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