2 Amendments of Roberto GUALTIERI related to 2011/0386(COD)
Amendment 131 #
Proposal for a regulation
Article 2 a (new)
Article 2 a (new)
Article 2a Regulation 1466/97 is amended as follows: In Article 2a, the first and the second paragraphs are replaced by the following: "Article 2a Each Member State shall have a differentiated medium- term objective for its budgetary position. These country- specific medium-term budgetary objectives may diverge from the requirement of a close to balance or in surplus position, while providing a safety margin with respect to the 3 % of GDP government deficit ratio. The medium-term budgetary objectives shall ensure the sustainability of public finances or a rapid progress towards such sustainability while allowing room for budgetary manoeuvre, considering in particular the need for public investment. Taking these factors into account, for participating Member States and for Member States that are participating in ERM2 the country-specific medium- term budgetary objectives shall be specified within a defined range between -0.5% of GDP and balance or surplus, in cyclically adjusted terms, net of 2/5 of gross fixed capital formation as defined in the European System of Integrated Economic Accounts and net of one-off and temporary measures. For participating Member States, where the ratio of the general government rate to gross domestic product at market prices is below 60% and where risks in terms of long-term sustainability of public finances are low, the country specific medium-term budgetary objectives shall be specified within a defined range between a lower limit of a structural deficit of -1% of GDP at market prices and balance or in surplus, in cyclically adjusted terms, net of 2/5 of gross fixed capital formation as defined in the European System of Integrated Economic Accounts and one- offs and temporary measures."
Amendment 258 #
Proposal for a regulation
Article 7 a (new)
Article 7 a (new)
Article 7 a Economic partnership programmes 1. Where the Council decides in accordance with Article 126(6) TFEU that an excessive deficit exists in a Member State, the Member State concerned shall present to the Commission and to the Council an economic partnership programme describing the policy measures and structural reforms that are needed to ensure an effectively durable correction of the excessive deficit, as a detailed development of the Stability Programmes and the national reform programmes. 2. The economic partnership programme shall be fully compatible with the policies referred to in Article 1. 3. In the event of a severe economic downturn, the economic partnership programme shall, following a proposal from the Commission, include a slower adjustment path towards the medium-term budgetary objective, taking into account, specifically pro-cyclical effects of consolidation measures, in accordance with Article 6(3) of Regulation (EC) No 1466/97 and the debt rule shall be coherently adjusted. 4. The economic partnership programme shall be presented at the same time as the reports provided for in Article 3(4a) and Article 5(1a) of Regulation (EC) No 1467/97. 5. The Council, acting by qualified majority on a proposal from the Commission, and with the consent of the European Parliament, shall adopt an opinion on the economic partnership programme. 6. A corrective action plan submitted by a Member State in accordance with Article 8(1) of Regulation (EU) No 1176/2011 shall be deemed to replace an economic partnership programme established under this Article. 7. The implementation of the programme, and the annual budgetary plans consistent with it, shall be monitored by the Commission and by the Council.