16 Amendments of Burkhard BALZ related to 2012/2028(INI)
Amendment 10 #
Motion for a resolution
Citation 5 a (new)
Citation 5 a (new)
- having regard to the paper of the President of the European Council from 25 June 2012 "Towards a genuine economic and monetary Union" and the Conclusions of the European Council from 28-29 June 2012
Amendment 69 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Believes that there is an urgent need to further discuss a longer-term vision for the euro area which ensures sound public finances, sustainable growth and high levels of employment, preventing moral hazard and supporting convergence; believes however, that Stability bonds risk to obscure the problem of indebtedness in the euro area, rather than eliminating it;
Amendment 101 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Believes that the prospect of common bonds can foster stability in the euro area and be an additional elementbe a strong signal to fincentivise compliance with the stability and growth pactancial markets; reiterates its position that sequenctiming is a key issue involving a binding roadmap, included in the annex, similar to the Maastricht criteria for introducing the single currency;
Amendment 115 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Notes that the introduction of common Stability Bonds must necessarily go hand- in-hand with measures that involve a permanent reduction of government indebtedness and structural reforms in the Member States, as well as sound budgetary policies;
Amendment 124 #
Motion for a resolution
Paragraph 7 b (new)
Paragraph 7 b (new)
7b. Sees common Stability Bonds as the final result of a process of convergence in relation to economic and fiscal policy, but believes that the hasty issuing of common bonds will not meaningfully help overcome the present debt crisis and that other financial policy instruments are more suitable for supporting small and medium-sized enterprises and increasing their liquidity;
Amendment 135 #
Motion for a resolution
Paragraph 8
Paragraph 8
Amendment 150 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. UrgesCalls on Member States to seriously consider the immediate issuance of common short-term debt in the form of eurobills to protect Member States with fundamentally sustainable fiscal polices from illiquidity runs and the negative feedback loop between sovereign and banking crises;
Amendment 174 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Believes that, in parallel, there is an urgent need to recapitalise the European banking sector and to further complete financial integration in the EU; calls on the Commission to put forward proposals for a single financial supervisory authority to oversee systemic financial institutions, a banking resolution regime including a recapitalisation fund and an EU-wide deposit guarantee scheme; welcomes in this respect the Commission proposal on recovery and resolution of credit institutions and investment firms;
Amendment 195 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. BWelievcomes thate fact that a range of options is under analysis, amongst others the issuance of common bonds under separate liability, similar to the EFSF bond, risks not being sufficiently attractive for investors and that the roadmap should therefore include a system, which does not require any Treaty change,or a system for the allocation of debt below 60 % of GDP to be issued under joint and several liabilities (blue-bond/red-bond proposal);
Amendment 207 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Believes that if the blue-bond/red-bond system proves to be beneficial to the euro area as a whole, a further step, requiring a Treaty change, should be envisaged, which is the issuance of bonds under joint and several liabilitythe Commission should explain how the introduction of common Stability Bonds could work in view of the restrictions in Article 125 of the TFEU and the extent to which changes to national law would be required in the Member States;
Amendment 240 #
Motion for a resolution
Annex - Phase 1 - Point 1 - Paragraph 1
Annex - Phase 1 - Point 1 - Paragraph 1
The Commission makes a proposal forshall assess the immediate setting up of a temporary European redemption fund along the following principles:
Amendment 273 #
Motion for a resolution
Annex - Phase 1 - Point 2 - Paragraph 1
Annex - Phase 1 - Point 2 - Paragraph 1
The Commission makes a proposal forshall assess the immediate setting up of a system for the issuance of common short-term debt along the following principles:
Amendment 308 #
Motion for a resolution
Annex - Phase 2 - Paragraph 1
Annex - Phase 2 - Paragraph 1
With the start of phase 2, a committee of independent representatives from Member States, the Commission and the ECB (along the line of the Delors committee decided in June 1988 by the European Council) shall be set-up to evaluate progress and make recommendations for further steps. The Commission puts forward proposals for to assess amongst others the setting up of a system for the allocation of debt below 60 % of GDP to be issued in common, which is safeguarded by national debt brakes according to principles such as:
Amendment 327 #
Motion for a resolution
Annex - Phase 3
Annex - Phase 3
Amendment 332 #
Motion for a resolution
Annex - Phase 3 - Paragraph -1 a (new)
Annex - Phase 3 - Paragraph -1 a (new)
Any future discussion on the feasibility of stability bonds will have to be hold on the basis of the work of the Commission and the committee of independent representatives and in light of the results of their assessments.
Amendment 346 #
Motion for a resolution
Annex - Phase 4 - Paragraph 1
Annex - Phase 4 - Paragraph 1