2019/0161(COD) | [ParlTrack]

Proposal for a regulation
Recital 2

(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies through targeted structural reforms and investment. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States carry out structural reforms and investment in a consistent, coherent and well- coordinated manner, it is necessary to establish a governance framework to enable the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States. Such a framework would enhance convergence and competitiveness of the euro area. The Council should also provide country- specific guidance on individual reforms and investment objectives of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulation.

Amendment 12 #

Luis GARICANO, Nicolae ŞTEFĂNUȚĂ, Olivier CHASTEL, Nils TORVALDS, Moritz KÖRNER

Proposal for a regulation
Recital 2

(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies ~~through targeted structural reforms and investment~~. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States ~~carry out structural~~ reforms and invest~~ment~~ in their economies in a consistent, coherent and well-coordinated manner, it is necessary to establish a governance framework to enable the European Parliament and the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States~~. Such a framework would enhance convergence and competitiveness of the euro area. The Council should also provide country-specific guid~~ in the context of the budgetary instrument for convergence and competitiveness. Such a framework would enhance con ~~individual reforms and investment objec~~vergence and competitiveness of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. Since such a framework is specific to the Member States whose currency is the euro,euro area. All members of the European Parliament can take part in votes and only members of the Council representing those Member States should take part in votes under this Regulation.

Amendment 13 #

Nicolae ŞTEFĂNUȚĂ

Proposal for a regulation
Recital 2

(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies through targeted structural reforms and investment. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States carry out structural reforms and investment in a consistent, coherent and well- coordinated manner, it is necessary to establish a governance framework to enable the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States. ~~Such a~~In order for this framework ~~would~~to enhance convergence and competitiveness of the euro area this instrument should primarily support the most vulnerable Members States participating in the instrument. The Council should also provide country- specific guidance on individual reforms and investment objectives of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulation.

Amendment 14 #

Proposal for a regulation
Recital 2 a (new)

(2 a) Member States whose currency is not the euro and which participate in the exchange rate mechanism (ERM-II) should inform the Commission without delay of whether they intend to participate in the budgetary instrument for convergence and competitiveness or the convergence and reform instrument.

Amendment 15 #

Hélène LAPORTE, Joachim KUHS, Matteo ADINOLFI, Marco ZANNI, Anna BONFRISCO, Valentino GRANT

Proposal for a regulation
Recital 3

Amendment 16 #

Luis GARICANO, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS, Moritz KÖRNER

Proposal for a regulation
Recital 3

Amendment 17 #

Proposal for a regulation
Recital 3

Amendment 18 #

Luis GARICANO, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS

Proposal for a regulation
Recital 3

(3) ~~At the Union level, the European Semester of economic policy coordination is the framework for the identification of national reform priorities of the Member States and~~The strategic orientations for the reform and investment priorities, as referred to in Recital (4), together with the euro-area recommendations and national reform programmes in the context of the European Semester, form the ~~monitoring of the implementation of those prioriti~~framework for the identification of national reform priorities of the Member States. This Regulation addresses the need to establish coherence between the reform and investment priorities for the euro area a~~s a whole and the reform and investment objectives of the individual Member States whose currency is the euro, and to ensure their consistency with the European Semester~~nd the European Semester, the Paris Agreement, as well as the Social Pillar as strategic policies of the Union.

Amendment 19 #

Proposal for a regulation
Recital 3 a (new)

(3 a) The current architecture of the Economic and Monetary Union is intrinsically complex. To improve the efficiency and democratic accountability in the Economic and Monetary Union, Member States shall agree to the establishment of a European Minister of Economy and Finance (the Union's Finance Minister) which would preside the Eurogroup, oversee the Budgetary Instrument for Convergence and Competitiveness, and chair the Board of Governors of the European Stability Mechanism, to be integrated into the Union's legal framework through the establishment of the European Monetary Fund. The Union's Finance Minister shall be a Vice-president of the Commission and must be accountable to the European Parliament.

Amendment 20 #

Hélène LAPORTE

Proposal for a regulation
Recital 3 a (new)

(3a) In the context of the European Semester, country-specific recommendations are put forward in order to remedy macroeconomic imbalances in the Union. On no account should it be mandatory to incorporate these recommendations - which concern matters falling within the Member States' sphere of competence - into national policy-making.

Amendment 21 #

Proposal for a regulation
Recital 4

(4) On an annual basis, ~~the Council should~~ and for the purposet o~~ut strategic orientation~~f the allocation process onf the ~~reform and investment priorities for~~budgetary instrument, as referred to in XXX [the RISP Regulation], the eEuro ~~area, as par~~pean Parliament and the Council should jointly set ofut the ~~recomm~~strategic oriendtation ~~on the economic policy~~s for the reform and investment priorities of the euro area. The strategic orientations should be adopted by European Parliament acting by simple majority and the Council acting by qualified majority on a recommendation from the Commission, and after the Euro~~group~~pean Parliament and the Council’s respective body hasve discussed the reforms and investment priorities that ithey considers relevant and appropriate for inclusion therein. ~~The annual Euro Summit~~Priorities should ensure coherence with the European Semester, the Paris Agreement, as wiell ~~play its role~~as the Social Pillar.

Amendment 22 #

Luis GARICANO, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS, Moritz KÖRNER

Proposal for a regulation
Recital 4

(4) On an annual basis, the Council should set out strategic orientations on the reform and investment priorities for the euro area, as part of the recommendation on the economic policy of the euro area. The strategic orientations should be adopted by the Council acting by qualified majority on a recommendation from the Commission~~, and after the Eurogroup has discussed~~. The Euro Summit, and the Euro group as a preparatory body of the Euro Summit, should have a general discussion on the strategic orientations on the reforms and investment priorities ~~that it considers relevant and appropriate for inclusion therein. The annual Euro Summit will play its role~~for the euro area before the presentation of the recommendation by the Commission on the euro area recommendations.

Amendment 23 #

Proposal for a regulation
Recital 4

Amendment 24 #

Hélène LAPORTE

Proposal for a regulation
Recital 5

(5) To ensure that strategic orientations reflect the evolving experience of the implementation of the budgetary instrument for convergence and competitiveness, the Commission should~~, alongside its recommendation on the strategic orientations, as part of its recommendation on the economic policy of the euro area,~~ inform the Council of how the strategic orientations have been followed during the preceding years.

Amendment 25 #

Luis GARICANO, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS, Moritz KÖRNER

Proposal for a regulation
Recital 5

(5) To ensure that strategic orientations reflect the evolving experience of the implementation of the budgetary instrument for convergence and competitiveness, the Commission should~~, alongside its recommendation on the strategic orientations, as part of its recommendation on the economic policy of the euro area, inform~~ inform the European Parliament and the Council of how the strategic orientations have been followed during the preceding years.

Amendment 26 #

Proposal for a regulation
Recital 5

(5) To ensure that strategic orientations reflect the evolving experience of the implementation of the budgetary instrument for convergence and competitiveness, the Commission should, alongside its recommendation on the strategic orientations, as part of its recommendation on the economic policy of the euro area, inform the European Parliament and the Council of how the strategic orientations have been followed during the preceding years.

Amendment 27 #

Proposal for a regulation
Recital 6

(6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate,he package of reforms and investment should be present alongside within the relevant Treaty- based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9 . _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1)National Reform Programme.

Amendment 28 #

Luis GARICANO, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS, Moritz KÖRNER

Proposal for a regulation
Recital 6

(6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt Following the adoption of the euro area Rrecommendation ~~providing country-specific guidance on the objectives of reforms and investment that can be supported under~~s for the purpose of the budgetary instrument for convergence and competitiveness in, the Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate, within the relevant Treaty- based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9 . _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1) may submit proposals for packages of reforms and investments under the budgetary instrument for convergence and competitiveness.

Amendment 29 #

Hélène LAPORTE

Proposal for a regulation
Recital 6

(6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate, within the relevant Treaty- based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9. _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1).

Amendment 30 #

Proposal for a regulation
Recital 6

(6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, and after having heard the European Parliament, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate, within the relevant Treaty-based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9 . _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1).

Amendment 31 #

Hélène LAPORTE, Joachim KUHS, Matteo ADINOLFI, Marco ZANNI, Anna BONFRISCO, Valentino GRANT

Proposal for a regulation
Recital 7

(7) The Council Recommendation providing country-specific guidance on the objectives of reforms and investment in Member States whose currency is the euro, adopted by qualified majority, should be based on a Commission recommendation. This process should be without prejudice to the voluntary nature of participation of Member States whose currency is the euro in the budgetary instrument for convergence and competitiveness, and without prejudice to the Commission’s prerogatives as regards its implementation.deleted

Amendment 32 #

Proposal for a regulation
Recital 7

Amendment 33 #

Luis GARICANO, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS, Moritz KÖRNER

Proposal for a regulation
Recital 7

Amendment 34 #

Proposal for a regulation
Recital 7

Amendment 35 #

Luis GARICANO, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS, Moritz KÖRNER

Proposal for a regulation
Recital 8

(8) Within the governance framework set out in this Regulation, the Council, after having heard the relevant Committee within the European Parliament, should set out the strategic orientations for the euro area as a whole and provide country- specific guidance on the objectives of reform and investment packages of the individual Member States whose currency is the euro. The governance framework should also make sure that the instrument is coherent with other Union policies. As it would be part of the Union budget, it must be in coherence with the overall Union policies and satisfy budgetary principles and requirements in terms of sound financial management, budgetary control and parliamentary accountability. The Commission implements the Union’s budget under Article 317 TFEU, which includes the management of spending programmes. The Commission responsibilities with regard to the budgetary instrument for convergence and competitiveness [within the Reform Support Programme] under Regulation (EU) XXXX/XX should not be affected.

Amendment 36 #

Proposal for a regulation
Recital 8

(8) Within the governance framework set out in this Regulation, the Council should set out the strategic orientations for the euro area as a whole and provide country-specific guidance on the objectives of reform and investment packages of the individual Member States whose currency is the euro. The Commission implements the Union’s budget under Article 317 TFEU, which includes the management of spending programmes. The Commission responsibilities with regard to the budgetary instrument for convergence and competitiveness [within the Reform and Investment Support Programme] under Regulation (EU) XXXX/XX should not be affected.

Amendment 37 #

Proposal for a regulation
Recital 8

(8) Within the governance framework set out in this Regulation, the Council should set out the strategic orientations ~~for the euro area as a whole and provide country-specific guidance on the objectives of~~on reforms and investment p~~ackages of the individual Member States whose currency is~~riorities for the euro area. The Commission implements the Union’s budget under Article 317 TFEU, which includes the management of spending programmes. The Commission responsibilities with regard to the budgetary instrument for convergence and competitiveness [within the Reform Support Programme] under Regulation (EU) XXXX/XX should not be affected.

Amendment 38 #

Nicolae ŞTEFĂNUȚĂ

Proposal for a regulation
Recital 8 a (new)

(8 a) Within the governance framework it should also make sure that the next the BICC will be sufficiently flexible so that funds can be transferred where is the most needed instead of being allocated ex- ante for the next seven years. This primarily requires to completely avoid the "juste retour" logic.

Amendment 39 #

Luis GARICANO, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS

Proposal for a regulation
Recital 9

(9) ~~On the basis of an assessment by the Commission, the Council, shall establish which Member States are experiencing a severe economic downturn~~At the request of the concerned Member State and on the basis of an assessment by the Commission, and duly taking into account the relevant resolutions of the European Parliament, the Council should be able to establish, for the purpose of a modulation of national co- financing rates provided for in Regulation (EU) XXXX/XX [Reform and Investment Support Programme Regulation], ~~and without prejudice to the application of Article 2(2) of Council Regulation (EC) 1467/97 as amended~~that a Member State is experiencing a severe economic downturn or that it no longer experiences a severe economic downturn.

Amendment 40 #

Proposal for a regulation
Recital 10

(10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament can invite the President of the Council~~, the Commission and, where appropriate, the President of the Eurogroup~~ and the Union's Finance Minister to appear before the committee to discuss the measures taken pursuant to this Regulation. The use of the instrument must be in coherence with the overall Union policies and satisfy budgetary principles and requirements in terms of sound financial management, budgetary control and parliamentary accountability.

Amendment 41 #

Victor NEGRESCU

Proposal for a regulation
Recital 10

(10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament can invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures taken pursuant to this Regulation. This regulation contains a set of recommendations for the Member States willing to integrate the euro area or are in the process of integrating the euro area.

Amendment 42 #

Proposal for a regulation
Recital 10

(10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament ~~can~~, before the Commission presents its recommendations for the euro area, may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee tofor a discuss ~~the measures tak~~ion on the strategic orientations on the reform and investment p~~ursuant to this Regulation~~riorities of the euro area.

Amendment 43 #

Proposal for a regulation
Article 1 – paragraph 1

1. This Regulation lays down provisions for the governance framework relevant for the budgetary instrument for convergence and competitiveness for the euro area within the Reform and Investment Support Programme under Regulation (EU) XXX/XX10 . _________________ 10 O.J.C , , p.

Amendment 44 #

Proposal for a regulation
Article 2 – paragraph 1 – introductory part

For the purposes of this Regulation, ~~the following definitions apply:~~‘euro- area recommendation’ means the European Parliament's and the Council's joint recommendation on the strategic orientations on the reform and investment priorities of the euro area.

Amendment 45 #

Proposal for a regulation
Article 2 – paragraph 1 – point a

(a) ‘country-specific recommendations’ means the Council recommendations addressed to each Member State in accordance with Article 121(2) and Article 148(4) TFEU in the context of the European Semester of economic policy coordination;deleted

Amendment 46 #

Proposal for a regulation
Article 2 – paragraph 1 – point a

Amendment 47 #

Proposal for a regulation
Article 2 – paragraph 1 – point b

~~(b) ‘euro-area recommendation’ means the Council recommendation on the economic policy of the euro area in accordance with Article 136 in conjunction with Article 121(2) TFEU.~~deleted

Amendment 48 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

This Regulation shall contribute to the upward convergence and competitiveness of the economies of the Member States whose currency is the euro by defining a governance framework relevant for the budgetary instrument for convergence and competitiveness, which sets out:

Amendment 49 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

This Regulation shall contribute to the convergence and competitiveness of the economies of the Member States whose currency is the euro by defining a governance ~~framework relevant for the budgetary instrument for convergence and competitiveness, which sets out:~~setting out the strategic orientations on the reform and investment priorities of the euro area.

Amendment 50 #

Proposal for a regulation
Article 3 – paragraph 1 – point a

~~(a) the strategic orientations on the reform and investment priorities of the euro area as a whole;~~deleted

Amendment 51 #

Proposal for a regulation
Article 3 – paragraph 1 – point b

(b) country-specific guidance on the objectives of reforms and investment relevant for the budgetary instrument for convergence and competitiveness consistent with the country-specific recommendations.deleted

Amendment 52 #

Proposal for a regulation
Article 3 – paragraph 1 – point b

Amendment 53 #

Clotilde ARMAND

Proposal for a regulation
Article 4 – paragraph 1

1. On a recommendation from the Commission and after discussion in the Eurogroup, the Council shall establish, as part of the euro-area recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area. , taking into account the broader perspective of guaranteeing cohesion and convergence among all the Member States, including those who do not belong to the euro area. Since this instrument is financed from the Union budget and should therefore serve the interests of all the Member States by means of their participation in the Multiannual Financial Framework, it should avoid putting non-euro area states into a disadvantageous competitive position. To this end, the Commission shall perform checks and consultations.

Amendment 54 #

Proposal for a regulation
Article 4 – paragraph 1

Amendment 55 #

Hélène LAPORTE, Joachim KUHS

Proposal for a regulation
Article 4 – paragraph 1

1. On a recommendation from the Commission and ~~after discussion in the Eurogroup, the Council shall establish, as part of the euro-area recommendation and~~the European Parliament and the Council, according to their respective procedure and for the purpose of the budgetary instrument for convergence and competitiveness, shall jointly establish on an annual basis, the strategic orientations for the reform and investment priorities of the euro area.

Amendment 56 #

Proposal for a regulation
Article 4 – paragraph 1

1. ~~On a recommendation from the Commission and a~~After discussion in the Eurogroup, the Council shall establish, as part of the euro-area recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area.

Amendment 57 #

Luis GARICANO, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS, Moritz KÖRNER

Proposal for a regulation
Article 4 – paragraph 1

1. On a recommendation from the Commission and ~~after discussion in the Eurogroup~~having heard the European Parliament, the Council shall establish, as part of the euro-area recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area.

Amendment 58 #

Proposal for a regulation
Article 4 – paragraph 2

2. ~~In parallel to its recommendation referred to in paragraph 1, the Commission shall inform~~The Commission shall inform the European Parliament and the Council on how the strategic orientations of the preceding years have been followed by the Member States.

Amendment 59 #

Proposal for a regulation
Article 5

1. The Council shall, on a recommendation from the Commission, adopt a recommendation addressed to all Member States whose currency is the euro providing, on an annual basis, country- specific guidance on the reform and investment objectives for the purposes of the reform and investment packages, which Member States may subsequently submit under Regulation (EU) XXXX/XX [Reform Support Programme Regulation]. 2. The recommendation referred to in paragraph 1 shall be consistent with the strategic orientations referred to in Article 4 and with the country-specific recommendations for the Member State concerned. In the recommendation referred to in paragraph 1, the Council shall duly take into account any macroeconomic adjustment programme approved in accordance with Article 7(2) of Regulation (EU) No 472/2013.Article 5 deleted Country-specific guidance

Amendment 60 #

Luis GARICANO, Nicolae ŞTEFĂNUȚĂ, Olivier CHASTEL, Nils TORVALDS, Moritz KÖRNER

Proposal for a regulation
Article 5

Amendment 61 #

Hélène LAPORTE, Joachim KUHS, Matteo ADINOLFI, Marco ZANNI, Anna BONFRISCO, Valentino GRANT

Proposal for a regulation
Article 5 – paragraph 1

Amendment 62 #

Proposal for a regulation
Article 5 – paragraph 1

1. The Council shall, on a recommendation from the Commission, and after having heard the European Parliament, adopt a recommendation addressed to all Member States whose currency is the euro providing, on an annual basis, country- specific guidance on the reform and investment objectives for the purposes of the reform and investment packages, which Member States may subsequently submit under Regulation (EU) XXXX/XX [Reform Support Programme Regulation].

Amendment 63 #

Hélène LAPORTE, Joachim KUHS, Matteo ADINOLFI, Marco ZANNI, Anna BONFRISCO, Valentino GRANT

Proposal for a regulation
Article 5 – paragraph 2

2. The recommendation referred to in paragraph 1 shall be consistent with the strategic orientations referred to in Article 4 and with the country-specific recommendations for the Member State concerned. In the recommendation referred to in paragraph 1, the Council shall duly take into account any macroeconomic adjustment programme approved in accordance with Article 7(2) of Regulation (EU) No 472/2013.deleted

Amendment 64 #

Proposal for a regulation
Article 6 – paragraph 1

WThe~~re relevant,~~ Council may establish, on the basedis onf a~~n assessment by~~ recommendation of the Commission, at the re~~commendation referred to in paragraph 1 of Article 5 shall establish whether~~quest of the Member State concerned, that a Member State is experiencing a severe economic downturn, for the purposes of a modulation of national co-financing rates provided for in Regulation (EU) XXXX/XX [Reform and Investment Support Programme Regulation].

Amendment 65 #

Proposal for a regulation
Article 6 a (new)

Article 6 a Voting in European Parliament A majority in the European Parliament shall be defined in accordance with Article 231 TFEU.

Amendment 66 #

Luis GARICANO, Nicolae ŞTEFĂNUȚĂ, Olivier CHASTEL, Nils TORVALDS

Proposal for a regulation
Article 8 – paragraph 1

In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament, before the Commission presents the euro area recommendations, may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the ~~measures taken pursuant to this Regulation~~strategic priorities of economic policies in the euro area that contribute to the convergence and competitiveness of the economies in the euro area.

Amendment 67 #

Proposal for a regulation
Article 8 – paragraph 1

Amendment 7 #

Luis GARICANO, Olivier CHASTEL, Nicolae ŞTEFĂNUȚĂ, Nils TORVALDS

Proposal for a regulation
Citation 2 a (new)

Having regard to the Commission's Communication for a European Minister of Economy and Finance

Amendment 8 #

Proposal for a regulation
Citation 4 a (new)

Having regard to the Böge/Berès Report on budgetary capacity for the Eurozone1a _________________ 1a (2015/2344(INI))

Amendment 9 #

Proposal for a regulation
Recital 1

(1) The coordination of the economic policies of the Member States is a matter of common concern. The Member States whose currency is the euro have a particular interest in and a responsibility to conduct economic policies that promote the proper functioning of the Economic and Monetary Union and to avoid policies that jeopardise it in the context of broad guidelines formulated by the ~~Council~~Union institutions.

source: 648.646

2020/05/20 ECON 157 amendments...

Amendment 100 #

Proposal for a regulation
Article 1 – paragraph 2 a (new)

2 a. This instrument should not be conditioned by the rules of the Stability and Growth Pact.

Amendment 101 #

Proposal for a regulation
Article 1 a (new)

Article 1 a The functioning of the BICC needs to be complemented by an euro-area stabilisation instrument to counter economic shocks and strengthening the resilience of the European economy.

Amendment 102 #

Proposal for a regulation
Article 2 – paragraph 1 – point -a (new)

(-a) 'European Semester' means the framework for economic policy coordination in the European Union;

Amendment 103 #

Proposal for a regulation
Article 2 – paragraph 1 – point a

Amendment 104 #

Proposal for a regulation
Article 2 – paragraph 1 – point a

Amendment 105 #

Proposal for a regulation
Article 2 – paragraph 1 – point a

Amendment 106 #

Proposal for a regulation
Article 2 – paragraph 1 – point b

~~(b) ‘euro-area recommendation’ means the Council recommendation on the economic policy of the euro area in accordance with Article 136 in conjunction with Article 121(2) TFEU.~~deleted

Amendment 107 #

Proposal for a regulation
Article 2 – paragraph 1 – point b

(b) ‘euro-area recommendation’ means the Council recommendation on the economic policy of the euro area in accordance with Article 136 in conjunction with Article 121(2) TFEU, in the context of the European Semester.

Amendment 108 #

Proposal for a regulation
Article 2 – paragraph 1 – point b a (new)

(b a) ‘strategic orientations for the euro area’ refer to the strategic orientations for reform and investment priorities for the purpose of allocating financial support for reform and investment packages under the budgetary instrument for convergence and competitiveness, which are laid down in Annex I of this Regulation for the period between 1 January 2021 and 31December 2022, and jointly issued, on the basis of a Commission proposal, by the European Parliament and the Council, for the period from 1January 2023 until the end of the budget period.

Amendment 109 #

Proposal for a regulation
Article 2 – paragraph 1 – point b a (new)

(b a) ‘Strategic orientations for the reform and investment priorities’ means the sustainable reform and investment priorities for the euro area, in accordance with the EU’s commitment to the 2030 climate targets, the European Pillar of Social Rights(EPSR), the Paris climate agreement and the UN SDGs, adopted jointly by the Council acting by qualified majority and the European Parliament on a recommendation from the Commission, and after consultation with social partners and relevant stakeholders.

Amendment 110 #

Proposal for a regulation
Article 2 – paragraph 1 – point b a (new)

(b a) ‘strategic orientations’ means the strategic orientations for the reform and investment priorities for the euro area, adopted by the Council acting by qualified majority on a recommendation from the Commission duly considering any exchange of views in the competent committee of the European Parliament in accordance with Article 4(1) and Article 8 of this Regulation.

Amendment 111 #

Proposal for a regulation
Article 2 – paragraph 1 – point b b (new)

(b b) 'Sustainable reforms and investment' means lasting reforms and investment aimed at addressing economic, environmental and social challenges, in line with the 2030 climate target, the UN SDGs, the objectives of the European Green Deal or the European Pillar of Social Rights and with a view to enhancing cohesion, convergence, sustainable growth and high-quality job creation in particular in the context of economic governance processes;

Amendment 112 #

Proposal for a regulation
Article 2 – paragraph 1 – point b c (new)

(b c) 'Convergence' means the development of Member States’ economies towards a sustainable and social inclusive growth path as reflected in the European Green Deal and the EU’s new growth strategy.

Amendment 113 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

This Regulation shall contribute to the upward convergence and competitiveness of the economies of the Member States whose currency is the euro ~~by defining a governance framework relevant for the budgetary instrument for convergence and competitiveness, which sets out:~~with the view to enhance cohesion and sustainable growth and quality job creation, reduce disparities and to strengthen the resilience of economies by defining a governance framework relevant for the budgetary instrument for convergence and competitiveness, which sets out the strategic orientations for the sustainable reform and investment priorities of the euro area to be addressed through the budgetary instrument for convergence and competitiveness. This does not preclude the Member States to submit proposals for reforms and investment under this programme consistent with other relevant actions related to the implementation of Union policies.

Amendment 114 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

This Regulation shall contribute to the ~~convergence an~~upward eco~~mpetitiveness~~nomic convergence of the economies of the Member States whose currency is the euro by defining a governance framework relevant for the budgetary instrument for upward convergence and ~~competitiveness, which sets out:~~by achieving the following objectives: economic, social and territorial cohesion, the fight against tax avoidance and evasion and financial crime, the fight against fraud and corruption, full employment and the creation of quality jobs, the fight against inequality, poverty and social exclusion.

Amendment 115 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

This Regulation shall contribute to the convergence ~~and competitiveness~~ of the economies of the Member States whose currency is the euro by defining a governance framework relevant for the budgetary instrument for convergence and competitiveness, which sets out: the strategic orientations for investment priorities of the euro area to be addressed through the budgetary instrument for convergence and competitiveness.

Amendment 116 #

Alfred SANT

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

This Regulation shall contribute to the convergence and competitiveness of the economies of the Member States whose currency is the euro by defining a governance framework relevant for the budgetary instrument for convergence and competitiveness, while remaining coherent with the social and environmental objectives of the Union, and which sets out:

Amendment 117 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

Amendment 118 #

This Regulation shall contribute to the convergence and competitiveness of the economies of the Member States whose currency is the euro by defining a governance framework ~~relevant for the budgetary instrument for convergence and competitiveness, which sets out:~~setting out the strategic orientations on the reform and investment priorities of the euro area.

Amendment 119 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

Amendment 120 #

Proposal for a regulation
Article 3 – paragraph 1 – point a

~~(a) the strategic orientations on the reform and investment priorities of the euro area as a whole;~~deleted

Amendment 121 #

Proposal for a regulation
Article 3 – paragraph 1 – point a

~~(a) the strategic orientations on the reform and investment priorities of the euro area as a whole;~~deleted

Amendment 122 #

Proposal for a regulation
Article 3 – paragraph 1 – point b

Amendment 123 #

Proposal for a regulation
Article 3 – paragraph 1 – point b

Amendment 124 #

Proposal for a regulation
Article 3 – paragraph 1 – point b

Amendment 125 #

Proposal for a regulation
Article 3 – paragraph 1 – point b

Amendment 126 #

Proposal for a regulation
Article 3 – paragraph 1 – point b

Amendment 127 #

Proposal for a regulation
Article 3 – paragraph 1 – point b

(b) country-specific guidance on the objectives of ~~reforms and~~public investment relevant for the budgetary instrument for convergence and competitiveness consistent with the country-specific recommendations.

Amendment 128 #

Proposal for a regulation
Article 4 – paragraph 1

1. ~~On a recomm~~The setting of the strategic oriendtations f~~rom the Commission and after discussion in the Eurogroup, the Council shall establish, as part of the euro-area recommendation~~or reform and investment priorities, for the purpose of the budgetary instrument for convergence and competitiveness shall follow two stages: (a) for the period from 1 January 2021 until 31December 2022 the strategic orientations and reform and investment priorities are laid out in Annex I of this Regulation. (b) for the period from 1 January 2023 until the end of the budgeting period, the European Parliament and the Council shall establish, on a recommendation from the Comission, jointly and on an annual basis, the strategic orientations for ~~the~~ reform and investment priorities of the euro area, in coherence with the European Semester, the Paris Agreement, as well as the European Pillar of Social Rights.

Amendment 129 #

Proposal for a regulation
Article 4 – paragraph 1

1. On a recommendation from the Commission ~~and after discussion in the Eurogroup, the Council shall establish, as part of the euro-area recomm~~, the European Parliament and the Council shall establish, on an annual basis, the strategic oriendtation ~~and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area~~s for the investment priorities of the euro area. The strategic orientations for the investment priorities must take into account the urgency of fighting socioeconomic and regional inequalities and promote the energetic transition, as well as the need for promoting convergence within the eurozone, thus favouring investments in less developed countries.

Amendment 130 #

Proposal for a regulation
Article 4 – paragraph 1

1. On a recommendation from the Commission and after discussion in the Eurogroup, the Council and the European Parliament shall establish, as part of the euro-area recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area.

Amendment 131 #

Proposal for a regulation
Article 4 – paragraph 1

Amendment 132 #

Proposal for a regulation
Article 4 – paragraph 1

1. On a recommendation from the Commission ~~and after discussion in the Eurogroup, the Council shall establish, as par~~, the Council and the European Parliament shall establish jointly, on an annual basis, the strategic orientations for the reform and investment priorities of the euro area, taking into account specific social and environmental indicators identified for each Member State in the context of the eEuro~~-area recommend~~pean Semester of economic policy coordination, a~~nd on an annual basis, the strategic orientations for the reform and investment priorities of the euro~~iming to upward economic and social convergence and supporting the EU’s climate and social commitment, i.e the implementation of the objectives of the European Green Deal, the European Pillar of Social Right, the UN SDGs and the Paris climate agreaement.

Amendment 133 #

Proposal for a regulation
Article 4 – paragraph 1

1. On a recommendation from the Commission, and ~~after discussion in the Eurogroup, the Council shall establish, as part~~having heard the competent committee of the European Parliament, the Council shall establish, on an annual basis, the strategic orientations for the reform and investment priorities of the euro- area ~~recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area.~~ in line with an extended European Semester which would supplement the current fiscal and budgetary discipline with climate and environmental discipline by establishing a new climate indicator to show Member States their temperature trajectory in the context of the Paris Agreement, thereby making it possible for the European Semester to make recommendations to the Member States about reducing their climate debt. The strategic orientations for the reform and investment priorities, together with the euro-area recommendations and national reform programmes in the context of the European Semester, enable the Union, in particular, to achieve the objectives of the Green Deal and speed up its transition to climate neutrality.

Amendment 134 #

Proposal for a regulation
Article 4 – paragraph 1

Amendment 135 #

Proposal for a regulation
Article 4 – paragraph 1

1. On a recommendation from the Commission ~~and after discussion in the Eurogroup, the Council shall establish~~, duly considering any exchange of views in the competent committee of the European Parliament in accordance with Article 8 of this Regulation, the Council shall establish acting by qualified majority, as part of the euro-area recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area, consistent with the European Semester.

Amendment 136 #

Proposal for a regulation
Article 4 – paragraph 1

Amendment 137 #

Proposal for a regulation
Article 4 – paragraph 1

1. On a recommendation from the 1. Commission and after discussion in the Eurogroup and after having consulted the European Parliament, the Council shall establish, as part of the euro-area recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area.

Amendment 138 #

Alfred SANT

Proposal for a regulation
Article 4 – paragraph 1

Amendment 139 #

Proposal for a regulation
Article 4 – paragraph 2

2. In parallel to its recommendation referred to in paragraph 1, the Commission shall inform simultaneously the European Parliament and the Council on how the strategic orientations of the preceding years have been followed by the Member States.

Amendment 140 #

Proposal for a regulation
Article 4 – paragraph 2

2. ~~In parallel to its recommendation referred to in paragraph 1, the Commission shall inform the Council~~The Commission shall inform the European Parliament and the Council, simultaneously, on how the strategic orientations of the preceding years have been followed by the Member States.

Amendment 141 #

Proposal for a regulation
Article 4 – paragraph 2

2. In parallel to its recommendation referred to in paragraph 1, the Commission shall inform the European Parliament and the Council on how the strategic orientations of the preceding years have been followed by the Member States.

Amendment 142 #

Proposal for a regulation
Article 4 – paragraph 2

2. In parallel to its recommendation referred to in paragraph 1, the Commission shall inform the Council and the European Parliament on how the strategic orientations of the preceding years have been followed by the Member States.

Amendment 143 #

Antonio Maria RINALDI, Gunnar BECK, Hervé JUVIN, Maximilian KRAH, Hélène LAPORTE, Jörg MEUTHEN

Proposal for a regulation
Article 4 – paragraph 2

Amendment 144 #

Proposal for a regulation
Article 4 – paragraph 2

Amendment 145 #

Proposal for a regulation
Article 4 – paragraph 2 a (new)

2a. The Commission shall initiate ex ante and ex post assessments in order to analyse the impact of the reforms promoted with regard to employment, social rights, investment and growth, and economic, social and environmental sustainability.

Amendment 146 #

Proposal for a regulation
Article 4 – paragraph 2 a (new)

Amendment 147 #

Proposal for a regulation
Article 5

Amendment 148 #

Proposal for a regulation
Article 5

Amendment 149 #

Proposal for a regulation
Article 5

Amendment 150 #

Proposal for a regulation
Article 5

Amendment 151 #

Proposal for a regulation
Article 5

Amendment 152 #

Proposal for a regulation
Article 5 – paragraph 1

1. The Council and the European Parliament shall, on a recommendation from the Commission, adopt a recommendation addressed to all Member States whose currency is the euro providing, on an annual basis, country- specific guidance on the reform and investment objectives for the purposes of the reform and investment packages, which Member States may subsequently submit under Regulation (EU) XXXX/XX [Reform and Investment Support Programme Regulation].

Amendment 153 #

Proposal for a regulation
Article 5 – paragraph 1

1. The Council after having consulting the European Parliament shall, on a recommendation from the Commission, adopt a recommendation addressed to all Member States whose currency is the euro providing, on an annual basis, country- specific guidance on the reform and investment objectives for the purposes of the reform and investment packages, which Member States may subsequently submit under Regulation (EU) XXXX/XX [Reform Support Programme Regulation].

Amendment 154 #

Proposal for a regulation
Article 5 – paragraph 1

1. The Council shall, on a recommendation from the Commission, adopt acting by qualified majority a recommendation addressed to all Member States whose currency is the euro providing, on an annual basis, country- specific guidance on the reform and investment objectives for the purposes of the reform and investment packages, which Member States may subsequently submit under Regulation (EU) XXXX/XX [Reform and Investment Support Programme Regulation].

Amendment 155 #

Proposal for a regulation
Article 5 – paragraph 2

Amendment 156 #

Proposal for a regulation
Article 6 – paragraph 1

WThe~~re relevant, based on an assessment by the Commission, the recommendation referred to in paragraph 1 of Article 5 shall establish~~ European Parliament and the Council shall establish, on the basis of a recommendation of the Commission, whether a Member State is experiencing a severe economic downturn, for the purposes of a modulation of national co- financing rates provided for in Regulation (EU) XXXX/XX [Reform and Investment Support Programme Regulation]. A decision on whether a Member State is experiencing a severe economic downturn shall be based on the severity, over a 6-month period, of one or more of the following economic factors: (a) the gross domestic product; (b) the unemployment rate; (c) the aggregate default rates, where available; (d) the poverty level

Amendment 157 #

Irene TINAGLI, Jonás FERNÁNDEZ

Proposal for a regulation
Article 6 – paragraph 1

Where relevant, based on an assessment by the Commission, the recommendation referred to in paragraph 1 of Article 5 shall establish whether a Member State is experiencing a severe economic downturn, for the purposes of a modulation of national co-financing rates provided for in Regulation (EU) XXXX/XX [Reform Support Programme Regulation]. The assessment of whether a Member State is experiencing a severe economic downturn should take into account convergence criteria and the intensity of the economic shock; therefore, it should be based on the following economic indicators: the gross domestic product, the unemployment rate and / or public investment rate.

Amendment 158 #

Proposal for a regulation
Article 6 – paragraph 1

~~Where relevant,~~The Council shall establish, on the basedis onf a~~n assessment by the Commission, the recommendation referred to in paragraph 1 of Article 5 shall establish~~ recommendation of the Commission and taking into account any recommendations of the European Parliament adopted pursuant to such Commission’s assessment, whether a Member State is experiencing a severe economic downturn, as referred to in Article 2(2) of Council Regulation (EC) 1467/97 for the purposes of a modulation of national co-financing rates provided for in Regulation (EU) XXXX/XX. [Reform Support Programme Regulation].

Amendment 159 #

Proposal for a regulation
Article 6 – paragraph 1

~~Where relevant, b~~Based on an assessment by the Commission~~, the recommendation referred to i~~ and taking into account any recommendations of the European pPar~~agraph 1 of Article 5~~liament adopted pursuant to such Commission’s assessment, it shall be established whether a Member State is experiencing a severe economic downturn, for the purposes of a modulation of national co-financing rates provided for in Regulation (EU) XXXX/XX [Reform Support and Investment Programme Regulation].

Amendment 160 #

Antonio Maria RINALDI, Gunnar BECK, Hervé JUVIN, Maximilian KRAH, Hélène LAPORTE, Jörg MEUTHEN

Proposal for a regulation
Article 6 – paragraph 1

Where relevant, based on an assessment by the Commission or based on request by a Member State, the recommendation referred to in paragraph 1 of Article 5 shall establish whether a Member State is experiencing a severe economic downturn, for the purposes of a modulation of national co-financing rates provided for in Regulation (EU) XXXX/XX [Reform Support Programme Regulation].

Amendment 161 #

Proposal for a regulation
Article 6 – paragraph 1

Amendment 162 #

Proposal for a regulation
Article 6 – paragraph 1

Where relevant, based on an assessment by the Commission, the ~~recommendation referred to in paragraph 1 of Article 5~~Council shall establish whether a Member State is experiencing a severe economic downturn, for the purposes of a modulation of national co-financing rates provided for in Regulation (EU) XXXX/XX [Reform and Investment Support Programme Regulation].

Amendment 163 #

Proposal for a regulation
Article 6 – paragraph 1 a (new)

The extent of the downturn shall be assessed on the basis of the quarterly figures relating to GDP, GDP per capita, employment, the current account balance and the trade balance. Where a Member State is experiencing a downturn that is defined severe due to the deterioration of one of these variables alone, the co-financing rate may be as high as 95%.

Amendment 164 #

Proposal for a regulation
Article 8 – title

Economic and social dialogue

Amendment 165 #

Proposal for a regulation
Article 8 – paragraph 1

~~In order to enhance the dialogue between the Union institutions, in particular the European Parliament,~~The President of the Council ~~and~~, the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures taken pursuant to this Regulationhe President of the Eurogroup shall appear before the European Parliament's competent committee at least once a year to discuss the measures taken pursuant to this Regulation in order to ensure greater transparency and accountability.

Amendment 166 #

Proposal for a regulation
Article 8 – paragraph 1

In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures taken pursuant to this Regulation. The implementation of an institutionalized social dialogue with the Commission, the social partners, local and regional authorities and civil society, both at Union and national level, will further strengthen the democratic legitimacy of this instrument.

Amendment 167 #

Proposal for a regulation
Article 8 – paragraph 1

In order to enhance the economic and social dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup, and the social partners to appear before the committee to discuss the measures foreseen and taken pursuant to this Regulation. The Commission shall make all relevant information available to the European Parliament and to the Council simultaneously.

Amendment 168 #

Proposal for a regulation
Article 8 – paragraph 1

In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures foreseen and taken pursuant to this Regulation. The Commission shall make all relevant information available to the European Parliament and to the Council simultaneously.

Amendment 169 #

Proposal for a regulation
Article 8 – paragraph 1

In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and~~, where appropriate,~~ the President of the Eurogroup to appear before the committee to discuss the measures foreseen and taken pursuant to this Regulation. The Commission must make all relevant information available to the European Parliament on a regular basis.

Amendment 170 #

Proposal for a regulation
Article 8 – paragraph 1

Amendment 171 #

Antonio Maria RINALDI, Gunnar BECK, Hervé JUVIN, Maximilian KRAH, Hélène LAPORTE, Jörg MEUTHEN

Proposal for a regulation
Article 8 – paragraph 1

In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures taken pursuant to this Regulation. The competent committee may draw up a report assessing the effectiveness, efficiency, consistency and relevance of the measures taken.

Amendment 172 #

Gunnar BECK, Maximilian KRAH, Jörg MEUTHEN

Proposal for a regulation
Article 9 – paragraph 1

1. By 31 December 20231, the Commission shall publish a report on the application of this Regulation during the first stage of the Instrument as defined in Article 4(1a) of this Regulation. That report shall assess the effectiveness of this Regulation. By 31 December 2025, and every four years thereafter, the Commission shall publish a report on the application of this Regulation during the second stage of the Instrument as defined in Article 4(1b) of this Regulation. That report shall assess the effectiveness of this Regulation.

Amendment 173 #

Proposal for a regulation
Article 9 – paragraph 1

1. By 31 December 20232 and every ~~four~~two years thereafter, the Commission shall publish a report on the application of this Regulation. That report shall assess the proportionality and the effectiveness of this Regulation.

Amendment 174 #

Proposal for a regulation
Article 9 – paragraph 1

1. By 31 December 2023 and every four years thereafter, the Commission shall publish a report on the application of this Regulation. That report shall assess the effectiveness of this Regulation. A review of this Regulation may be requested by the European Parliament or the Council.

Amendment 175 #

Antonio Maria RINALDI, Hervé JUVIN, Hélène LAPORTE

1. By 31 December 2023 and every four years thereafter, the Commission shall publish a report on the application of this Regulation~~. That report shall assess the effectiveness of this~~ based on the criteria as defined in Regulation (EU) XXXX/XX [Reform and Investment Support Programme Regulation].

Amendment 176 #

Proposal for a regulation
Article 9 – paragraph 1

1. By 31 December 20232 and every ~~four~~ years thereafter, the Commission shall publish a report on the application of this Regulation. That report shall assess the effectiveness and the proportionality of this Regulation.

Amendment 177 #

Gunnar BECK, Maximilian KRAH, Jörg MEUTHEN, Antonio Maria RINALDI

Proposal for a regulation
Article 9 – paragraph 2

2. The Commission shall send the report to the ~~European Parliament and to the Council.~~Council and to the European Parliament, where it shall answer to the scrutiny of the Regulation by the competent committee of the European Parliament ;

Amendment 178 #

Proposal for a regulation
Article 9 – paragraph 2

2. The Commission shall send the report to the European Parliament and to the Council. Where relevant, it shall be accompanied by a proposal for amendments to this Regulation.

Amendment 179 #

Proposal for a regulation
Article 9 – paragraph 2

2. The Commission shall send the report to the European Parliament and to the Council simultaneously.

Amendment 180 #

Proposal for a regulation
Article 10 a (new)

Article 10 a Annex I Strategic orientations for reform and investment priorities for the period from1 January 2021 until the 31 December 2022 During the “recovery and resilience” stage, from 1 January 2021 until 31 December 2022, the budgetary instrument for convergence and competitiveness shall support and prioritise reforms and investments that contribute to a sustainable recovery and improve Member States’ and the Union’s crisis preparedness and economic, social, environmental and administrative resilience. Under the mechanisms established by Regulation(EU) XXX [the RSP Regulation], and subject to the assessment by the Commission, eligible Member States shall be able to receive support receive support for reform and investment packages that are consistent with the following priorities: (1) Reforms and public investments to improve capabilities for early detection, and coordinated responses to large- scalerisks to public health, such as pan- and epidemics, natural disasters, heatwaves, draughts, forest fires, chemical, nuclear or industrial accidents. These measures include reforms and investments that improve: (a) the capacity and effectiveness of public health institutions to access and monitor the entirety of the geography and population and to identify, investigate, monitor and manage abrupt occurrences of public health risks, and to contain their spread, once underway, including through non-pharmaceutical health measures, and to provide care to all inhabitants of a specific Member State regardless of income or residency status; (b) the ability of health systems to manage the clinical care for affected persons, and measures to limit transmission in clinical facilities, and to maintain safe and sustainable working conditions for health care staff even under difficult conditions; (c) the quality and coverage of infrastructure for responding to public health risks, including systems to coordinate the transport and distribution of personnel, patients, medical equipment, and protective gear; (d) communications infrastructure such as mobile internet-based reporting tools to support emergency, outbreak and diagnostic reporting; (e) crisis preparedness of critical infrastructure, such as water or energy supply, sewage systems, and the maintenance of sanitary standards; (f) the ability of national health systems to coordinate activity with other national, European and international agencies; (g) investments in the crisis preparedness and coordination of national and regional civil protection agencies, including fire departments and technical support services; (h) the reliability of the supply of important medicines and medical equipment even when demand is exceptionally high; (2) Reforms and investments that increase environmental resilience and comply with the requirements for environmental sustainability in Article 3 of the Regulation of the European Parliament and of the Council on the establishment of a framework to facilitate sustainable investment [Taxonomy regulation], including: (a) fostering biodiversity, sustainable agriculture, sustainable fishing and sustainable forestry, preventing ground water pollution, achieving good chemical and ecological status of surface waters, and fostering flood protection and soil conservation; (b) investments in transport infrastructure that fosters low- or zero-emissions means of transport; (c) investments in low- or zero-emissions energy generation and distribution infrastructure; (d) investments in and incentives for the development of clean technologies in polluting sectors, such as agriculture, chemicals or shipping; (3) reforms and investments that improve waste management and foster a circular economy; reforms of and investments in business and service continuity solutions for public and private institutions that are essential to the political, economic, social, administrative, security, health, transport, procurement, and education functions in societies, including: (a) improving public administrations’ ability to identify, contact and mobilize essential personnel to uphold the functioning of essential public infrastructure, security, administration and democratic institutions; (b) eGovernment solutions and online administrative processes, including the ability of members of public administrations to work from home and access necessary documents; (c) digitalization of the judicial system, including the ability to hold online hearings and court sessions; (d) reforms and regulatory systems that incentivise businesses and civil society actors to modernise crisis continuity systems and to invest in workplace safety crisis protocols to minimise operational disruptions; (e) incentives for adaptation of industrial processes and diversification of supply chains, including investments in flexible transport systems, traffic monitoring and emergency procedures at supply chain bottlenecks; (f) crisis continuity systems and protocols for public transport; (g) the ability of national and supranational financial systems to deliver liquidity and ensure continued secure payment facilities; (4) Reforms and investments to strengthen national, regional and local governments’ ability to support affected citizens in times of sudden and severe impacts to their livelihoods, including: (a) programs and administrative resources that facilitate rapid delivery of support, financial or otherwise, to affected citizens facing severe impacts to their financial situation, safety and physical or mental health, including measures that ensure gender equality, adequate child- support and protect persons in vulnerable situations, such as people with disabilities, prisoners, minorities, refugees and asylum seekers; (b) administrative resources and capabilities, including digital tools, to efficiently coordinate the delivery of financial help or liquidity to affected citizens, while minimizing the occurrence of fraud or other misuse; (c) improve working conditions in the care sector, such as child care and care for the elderly; (5) Reforms and investment packages supported by the budgetary instrument for convergence and competitiveness shall be in alignment with the goals of the Paris Climate Agreement, the objectives of the European Pillar of Social Rights, and the Sustainable Development Goals.

Amendment 24 #

Antonio Maria RINALDI, Gunnar BECK, Hervé JUVIN, Maximilian KRAH, Hélène LAPORTE, Jörg MEUTHEN

Draft legislative resolution
Paragraph 3 a (new)

3 a. Rejects the Commission proposal (COM(2019)0354).

Amendment 25 #

Proposal for a regulation
Citation 1

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 136(1)(b) in combination with Article 121(6), as well as the third paragraph of Article 175 and Article 197(2),

Amendment 26 #

Proposal for a regulation
Recital 1

Amendment 27 #

Gunnar BECK, Jörg MEUTHEN, Maximilian KRAH

Proposal for a regulation
Recital 1

Amendment 28 #

Proposal for a regulation
Recital 1

(1) The coordination of the economic policies of the Member States is a ~~matter of~~ common concern, due to the mismatch between the introduction of the euro as a common currency and the economic realities in the different Member States. The Member States whose currency is the euro have a particular interest in and a responsibility to conduct sound economic policies that ~~promote the proper func~~avoid costly disintegration~~ing~~ of the Economic and Monetary Union and to avoid policies that jeopardise ~~it in the context of broad guidelines formulated by the Council~~the interests of other Member States whose currency is the euro.

Amendment 29 #

Proposal for a regulation
Recital 1

(1) The coordination of the economic policies of the Member States is a matter of common concern. The Member States whose currency is the euro have a particular interest in and a responsibility to conduct economic policies that promote the proper functioning of the Economic and Monetary Union ~~and to avoid policies that jeopardise it~~, in the context of broad guidelines formulated by the Council and in compliance with the key objective of steadily improving the living and employment conditions of European peoples.

Amendment 30 #

Proposal for a regulation
Recital 1 a (new)

(1a) Since it was established, the euro area has comprised Member States with widely differing approaches to economic, fiscal and social matters, a state of affairs which has seriously undermined its effectiveness. Those differences are forcing the European Union to adopt legislative acts which encroach on the national sovereignty of its Member States, one example being this budgetary instrument for convergence and competitiveness.

Amendment 31 #

Proposal for a regulation
Recital 2

(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies ~~through targeted structural reforms and investment~~. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States ~~carry out structural~~ reforms and invest~~ment~~ in their economies to in a consistent, coherent and well-coordinated manner, it is necessary to establish a governance framework to enable the European Parliament and the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States. Such a framework would enhance convergence and competitiveness of the euro area. The Council should also provide country-specific guidance on individual reforms and investment objectives of the Member States whose currency is the euro, which can be supported by in the context of the budgetary instrument for convergence and competitiveness~~. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulation~~ (“The Instrument”). Such a framework would enhance convergence and competitiveness of the euro area.

Amendment 32 #

Proposal for a regulation
Recital 2

(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience ~~of their economies through target~~, the cohesion and the sustainability of their economies through targeted sustainable, growth-friendly and socially balanced structural reforms and investment. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area, which is to be adopted on the basis of the relevant Commission proposal, amended if necessary. To ensure that Member States carry out structural reforms and investment in a consistent, coherent and well- coordinated manner, it is necessary to establish a governance framework to enable the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States. Such a framework would enhance convergence and competitiveness of the euro area. The Council should also provide country- specific guidance on individual reforms and investment objectives of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulation aiming to upward socio-economic convergence, it is necessary to establish a governance framework for the budgetary instrument for convergence and competitiveness for the euro area.

Amendment 33 #

Proposal for a regulation
Recital 2

(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies through targeted structural reforms and investment. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States carry out structural reforms and investment in a consistent, coherent and well-coordinated manner, it is necessary to establish a governance framework to enable the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States. Such a framework would enhance convergence and competitiveness of the euro area. The Council should also provide country-specific guidance on individual reforms and investment objectives of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulationinvestment. To ensure that Member States carry out investment and that income redistribution takes place in a consistent, coherent and well-coordinated manner, in order to promote real economic convergence, it is necessary to establish a governance framework for the budgetary instrument for convergence and competitiveness for the euro area.

Amendment 34 #

Proposal for a regulation
Recital 2

Amendment 35 #

Proposal for a regulation
Recital 2

(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the economic, social and environmental resilience of their economies through ~~targeted structural reforms and~~public investment. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States carry out ~~structural reforms and~~public investment in a consistent, coherent and well-coordinated manner, it is necessary to establish a governance framework to enable the Council to provide strategic orientations on ~~reform and~~ investment priorities to be undertaken within the euro area by the Member States, especially the fields of health, public services and infrastructure connected to the ecological transition. Such a framework would enhance convergence and ~~competitiveness of~~an appropriate economic policy for the euro area. The Council should also provide country-specific guidance on ~~individual reforms and invest~~economic, social and environnemental objectives of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulation.

Amendment 36 #

Proposal for a regulation
Recital 2

(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies ~~through targeted structural reforms and investment~~. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States carry out ~~structural~~ reforms and investment in a consistent, coherent and well-coordinated manner, it is necessary to establish a governance framework to enable the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States. Such a framework would enhance convergence and competitiveness of the euro area. The Council should also provide country-specific guidance on individual reforms and investment objectives of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulation.

Amendment 37 #

Gunnar BECK, Maximilian KRAH, Jörg MEUTHEN

Proposal for a regulation
Recital 2

(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies through targeted, socially sustainable structural reforms and investment that reflect the specific situation of their economies. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States carry out socially sustainable structural reforms and investment in a consistent, coherent and well- coordinated manner, it is necessary to establish a governance framework to enable the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States. Such a framework would enhance convergence and competitiveness of the euro area. The Commission should carry out ex ante and ex post assessments in order to analyse the impact of the reforms promoted with regard to employment, social rights, investment and growth, and economic, social and environmental sustainability, in addition to the feasibility of the reforms. The Council should also provide country- specific guidance on individual reforms and investment objectives of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulation.

Amendment 38 #

Proposal for a regulation
Recital 2

(2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies through targeted structural reforms and investment. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States carry out structural reforms and investment in a consistent, coherent and well- coordinated manner, it is necessary to establish a ~~governance~~supervisory framework to enable the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States. Such a framework would enhance convergence and competitiveness ofin the euro area. The Council should also provide country- specific guidance on individual reforms and investment objectives of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. The Council should provide solutions to potential rent-seeking problems such as hold-out effects, in which Member States will block reforms until their demands from the budgetary instrument are met. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulation.

Amendment 39 #

Proposal for a regulation
Recital 2

(2) The Five Presidents' Report of 22 June 20151a emphasised the need to complete the Economic and Monetary Union’s economic and institutional architecture. In particular, it highlighted the importance of correcting the divergence witnessed during the crisis and embarking on a new convergence process. In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies through targeted structural reforms and investment. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States carry out structural reforms and investment in a consistent, coherent and well- coordinated manner, it is necessary to establish a governance framework to enable the Council to provide strategic orientations on reform and investment priorities to be undertaken within the euro area by the Member States. Such a framework would enhance convergence and competitiveness of the euro area. The Council should also provide country- specific guidance on individual reforms and investment objectives of the Member States whose currency is the euro, which can be supported by the budgetary instrument for convergence and competitiveness. Since such a framework is specific to the Member States whose currency is the euro, only members of the Council representing those Member States should take part in votes under this Regulation. _________________ 1a https://ec.europa.eu/commission/sites/beta -political/files/5-presidents-report_en.pdf

Amendment 40 #

Hélène LAPORTE, Antonio Maria RINALDI, Hervé JUVIN

Proposal for a regulation
Recital 2 a (new)

(2a) In order to deepen Economic and Monetary Union and improve the democratic accountability thereof, the role of a European Minister of Economy and Finance should be created, as laid down in the communication of the Commission of 6 December 2017 on a European Minister of Economy and Finance and the European Parliament resolution of 16 February 2017 on improving the functioning of the European Union building on the potential of the Lisbon Treaty. The European Minister of Economy and Finance would be a member of the Commission and would preside over the Eurogroup and the Board of Governors of the European Stability Mechanism. He or she would be accountable to the European Parliament, with regard to both the euro area format and the extended format. The European Minister of Economy and Finance would play an active role in establishing strategic orientations for the euro area and economic dialogue as laid down in this Regulation.

Amendment 41 #

Proposal for a regulation
Recital 3

Amendment 42 #

Proposal for a regulation
Recital 3

(3) ~~At the Union level, the European Semester of economic policy coordination is the framework for the identification of national reform~~The unprecedented crisis caused by the COVID-19 outbreak is impeding the fiscal room for manoeuvre for many Member States to implement important reform and investment priorities of, the ~~Member States and for the monitoring of the implementation of those priorities. This Regulation addresses the need to establish~~reby posing challenges to convergence and cohesion in the Union. To counter these challenges, in accordance with the objectives of Article 174 (1) of the Treaty on the Functioning of the European Union, the budgetary instrument for cohnvergence ~~between th~~and competitiveness shall support and prioritise reforms and investment priorities for the euro area as a whole and the reform and investment objectives of the individual Member States whose currency is the euro, and to ensure their consistency with the European Semester.s that contribute to convergence by improving Member States’ and the Union’s crisis preparedness and economic, social, environmental and administrative response to shocks. To account for the expected severe economic impact of the COVID-19 crisis during the first two years of the existence of the Instrument and to allow for its operation shortly after its adoption, the governance of the Instrument shall follow two stages, a “recovery and resilience stage” and a “convergence and competitiveness stage”:

Amendment 43 #

Proposal for a regulation
Recital 3

(3) ~~At the Union level, the European Semester of economic policy coordination is the framework for the identification of national reform~~This Regulation addresses the need to establish a framework to define strategic orientations for the reform and investment priorities of ~~the~~ Member States and for the monitoring of the implementation of those priorities. This Regulation addresses the need to establish coherence between the reform and investment priorities for the euro area as a whole and thewhose currency is the euro, in accordance with the EU’s commitment to the 2030 climate targets, the European Pillar of Social Rights (EPSR), the Paris climate agreement and the UNSDGs. This does not preclude the Member States to submit proposals for reforms and investment ~~objectives of the individual Member States whose currency is the euro, and to ensure their consistency with the European Semester~~under this programme consistent with other relevant actions related to the implementation of Union policies.

Amendment 44 #

Proposal for a regulation
Recital 3

(3) At ~~the~~ Union level, the European Semester of economic policy coordination is the framework for the identification of national reform priorities of the Member States and for the monitoring of the implementation of those priorities. This Regulation addresses the need to establish coherence between the reform and investment priorities for the euro area as a whole and the reform and investment objectives of the individual Member States whose currency is the euro, and to ensure their consistency with the European Semester. The priorities should take account of the Green Deal, and in particular the alignment of our economy with the Paris Agreement and climate neutrality, the digital agenda and stepping up European sovereignty in strategic sectors, and should be accompanied by a consistent industrial strategy at EU and euro area level.

Amendment 45 #

Proposal for a regulation
Recital 3

(3) At the Union level, the European Semester of economic policy coordination is the framework for the identification of national reform priorities of the Member States and for the monitoring of the implementation of those priorities. This Regulation addresses the need to establish coherence between the reform and investment priorities for the euro area as a whole and the reform and investment objectives of the individual Member States whose currency is the euro, and to ensure their consistency with the European Semester., taking into account the refocusing established by the Commission Communication of 17 December 2019. This Communication calls for "putting more emphasis on climate and environmental policies to reinforce the European Semester as a comprehensive economic and employment policy instrument"1a _________________ 1aCommunication of the Commission (COM(2019) 650) on December 17, 2020 on the Annual Sustainable Growth Strategyhttps://ec.europa.eu/info/sites/inf o/files/2020-european-semester-annual- sustainable-growth-strategy_en.pdf

Amendment 46 #

Proposal for a regulation
Recital 3

(3) At the Union level, the European Semester of economic policy coordination is the framework for the identification of national reform priorities of the Member States and for the monitoring of the implementation of those priorities. This Regulation addresses the need to establish coherence between the reform and investment priorities for the euro area as a whole and the reform and investment objectives of the individual Member States whose currency is the euro, and to ensure their consistency with the European Semester. To the extent possible, the governance of the budgetary instrument for convergence and competitiveness should go hand in hand with the European Semester and all other existing mechanisms of econ omic policy coordination to ensure the necessary consistency across processes and procedures.

Amendment 47 #

Proposal for a regulation
Recital 3 a (new)

(3 a) During the “recovery and resilience stage” from1 January 2021 until 31 December 2022 Member States whose currency is the euro may, under the Instrument, apply for financial support, in line with the mechanisms laid down in Regulation (EU) XXX [the RISP regulation], for reform and investment packages that comprise measures compliant with the strategic orientations and reform and investment priorities laid out in Annex I of this Regulation, and consistent with the Paris Agreement, as well as the European Pillar of Social Rights.

Amendment 48 #

Proposal for a regulation
Recital 3 a (new)

(3a) In the context of the European Semester, country-specific recommendations are put forward in order to remedy macroeconomic imbalances in the European Union. On no account should it be mandatory to incorporate these recommendations – which concern matters falling within the Member States’ sphere of competence – into national policy-making.

Amendment 49 #

Proposal for a regulation
Recital 3 b (new)

(3 b) During the “convergence and competitiveness stage” from 1 January 2023 until the end of the budgeting period, annual strategic orientations for reform and investment priorities, jointly issued, on the basis of a Commission proposal, by the European Parliament and the Council, together with the euro- area recommendations and national reform programmes in the context of the European Semester and, where relevant, macroeconomic adjustment programmes form the framework of the annual application and allocation process for the purpose of the Instrument. In this context, this Regulation addresses the need to establish coherence between the reform and investment priorities for the euro area as a whole and the reform and investment objectives of the individual Member States whose currency is the euro, and to ensure their consistency with the European Semester, the Paris Agreement, as well as the European Pillar of Social Rights

Amendment 50 #

Proposal for a regulation
Recital 4

Amendment 51 #

Proposal for a regulation
Recital 4

(4) On an annual basis and for the purpose of the budgetary instrument of convergence and competitiveness referred to in Regulation (EU)XXXX/XX [Reform and Investment Support Programme Regulation], the Council should ~~set ou~~adopt strategic orientations on the reform and investment priorities for the euro area, as part of the recommendation on the economic policy of the euro area and on an annual basis, consistent with the European Semester. The strategic orientations should be adopted by the Council acting by qualified majority on a recommendation from the Commission, ~~and after the Eurogroup has discussed the reforms and investment priorities that it considers relevant and appropriate for inclusion therein. The annual Euro Summit will play its r~~duly considering any exchange of views in the competent committee of the European Parliament, in accordance with Article 8 of this Regulation, on the reforms and investment priorities that it considers relevant and appropriate for inclusion therein. Those strategic orientations should also serve as a basis for identifying reforms and investments required for the recovery after an emergency arising from exceptional circumstances which affect the Union as a whole.

Amendment 52 #

Proposal for a regulation
Recital 4

Amendment 53 #

Gunnar BECK, Maximilian KRAH, Jörg MEUTHEN, Antonio Maria RINALDI

Proposal for a regulation
Recital 4

Amendment 54 #

Proposal for a regulation
Recital 4

Amendment 55 #

Proposal for a regulation
Recital 4

(4) On an annual basis~~, the Council should~~ and for the purposet o~~ut strategic orientation~~f the allocation process onf the ~~reform and investment priorities for the euro area, as part of the recommendation on the economic policy of the euro area. The strategic orientations should be adopted by the Council~~budgetary instrument of convergence and competitiveness referred to in Regulation (EU) XXXX/XX [Reform and Investment Support Programme Regulation]8a,the Council should adopt strategic orientations on the investment priorities for the euro area acting by qualified majority on a recommendation from the Commission, and after the ~~Eurogroup~~competent committee of the European Parliament has discussed the reforms and investment priorities that it considers relevant and appropriate for inclusion therein. Th~~e annual Euro Summit will play its role~~ose strategic orientations should take into account the EU’s social and climate objectives.

Amendment 56 #

Proposal for a regulation
Recital 4

(4) On an annual basis, the Council after having consulted the European Parliament should set out strategic orientations on the reform and investment priorities for the euro area, as part of the recommendation on the economic policy of the euro area. The strategic orientations should be adopted by the Council acting by qualified majority on a recommendation from the Commission, and after the Eurogroup has discussed the reforms and investment priorities that it considers relevant and appropriate for inclusion therein. The annual Euro Summit will play its role.

Amendment 57 #

Proposal for a regulation
Recital 4

(4) On an annual basis, the Council should set out strategic orientations on the reform and investment priorities for the euro area, as part of the recommendation on the economic policy of the euro area. The strategic orientations should be adopted by the Council acting by qualified majority on a recommendation from the Commission~~, and after the Eurogroup has discussed the reforms and investment priorities that it considers relevant and appropriate for inclusion therein. The annual Euro Summit will play its role~~. The Euro Summit, the Eurogroup has a preparatory body of the Euro Summit, and the competent committee of the European Parliament should have a general discussion on the strategic orientations on the reforms and investment priorities for the euro area before the presentation of the euro area recommendations by the Commission.

Amendment 58 #

Proposal for a regulation
Recital 4

(4) On an annual basis~~, the Council should~~ and for the purposet o~~ut strategic orientation~~f the allocation process onf the ~~reform and investment priorities for the euro area, as part of the recommend~~budgetary instrument of convergence and competitiveness referred to in Regulation (EU) XXXX/XX [Reform and Investment Support Programme Regulation on], the ~~economic policy of the euro area. The strategic orientations should be adopted by the Council~~Council should adopt strategic orientations on the reform and investment priorities for the euro area, acting by qualified majority on a recommendation from the Commission, and after the ~~Eurogroup~~competent committee of the European Parliament has discussed the reforms and investment priorities that it considers relevant and appropriate for inclusion therein. Th~~e annual Euro Summit will play its role~~ose strategic orientations should also serve as a basis for identifying reforms and investments required for the recovery after an emergency arising from exceptional circumstances which affect a specific Member State or the Union and that consequently increase resilience to shocks and emergency preparedness, while enabling the Union to achieve its long-term objectives, in particular with regard to achieving its climate and environmental objectives.

Amendment 59 #

Proposal for a regulation
Recital 4

(4) On an annual basis, the Council should set out strategic orientations on the reform and investment priorities for the euro area, as part of the recommendation on the economic policy of the euro area, aiming to promote economic, social and territorial cohesion; legality; the fight against the tax avoidance of multinationals, financial crime, fraud and corruption; the fight against inequality, poverty and social exclusion; full employment and the creation of quality jobs. The strategic orientations should be adopted by the Council acting by qualified majority on a recommendation from the Commission, and after the Eurogroup has discussed the reforms and investment priorities that it considers relevant and appropriate for inclusion therein. The annual Euro Summit will play its role.

Amendment 60 #

Proposal for a regulation
Recital 4 a (new)

(4 a) Measures aimed at fostering the recovery from the social and economic shock of the COVID-19 crisis should be guided by the principles of resilience and ecological and social sustainability. They should also strive to combine the need for urgency with a long-term perspective. Measures that were supported by strong scientific evidence and broad political and social agreement should not be weakened or postponed, but should continue to be assigned priority.

Amendment 61 #

Proposal for a regulation
Recital 5

(5) To ensure that strategic orientations reflect the evolving experience of the implementation of the budgetary instrument for convergence and competitiveness, the Commission should, alongside its recommendation on the strategic orientations, and as part of its recommendation on the economic policy of the euro area, inform the European Parliament and the Council of how the strategic orientations have been followed during the preceding years. The Commission should make all relevant information available simultaneously to the European Parliament and to the Council without undue delay.

Amendment 62 #

Proposal for a regulation
Recital 5

(5) To ensure that strategic orientations reflect the evolving experience of the implementation of the budgetary instrument for convergence and competitiveness, the Commission should, alongside its recommendation on the strategic orientations, and as part of its recommendation on the economic policy of the euro area, inform the European Parliament and the Council of how the strategic orientations have been followed during the preceding years. The Commission should make all relevant information available to the European Parliament and to the Council simultaneously.

Amendment 63 #

Proposal for a regulation
Recital 5

(5) To ensure that strategic orientations reflect the evolving experience of the implementation of the budgetary instrument for convergence and competitiveness, the Commission should, alongside its recommendation on the strategic orientations, and as part of its recommendation on the economic policy of the euro area, inform the European Parliament and the Council of how the strategic orientations have been followed during the preceding years, where relevant. The Commission should make all relevant information available to the European Parliament and to the Council simultaneously.

Amendment 64 #

Hélène LAPORTE, Hervé JUVIN

Proposal for a regulation
Recital 5

(5) To ensure that strategic orientations reflect the evolving experience of the implementation of the budgetary instrument for convergence and competitiveness, the Commission should, alongside its recommendation on the strategic orientations, as part of its recommendation on the economic policy of the euro area, inform the Council and the European Parliament of how the strategic orientations have been followed during the preceding years.

Amendment 65 #

Proposal for a regulation
Recital 5

Amendment 66 #

Antonio Maria RINALDI, Gunnar BECK, Hervé JUVIN, Maximilian KRAH, Hélène LAPORTE, Jörg MEUTHEN

Proposal for a regulation
Recital 5

(5) To ensure that strategic orientations reflect the evolving experience of the implementation of the budgetary instrument for convergence and competitiveness, the Commission should, alongside its recommendation on the strategic orientations, as part of its recommendation on the economic policy of the euro area, inform the Council and the European Parliament of how the strategic orientations have been followed during the preceding years.

Amendment 67 #

Proposal for a regulation
Recital 6

(6) The Member States whose currency is the euro, and the European Parliament, can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council and European Parliament Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate, within the relevant Treaty-based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9 . _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1).

Amendment 68 #

Proposal for a regulation
Recital 6

(6) ~~The~~ Member States whose currency is the euro can decide to submit proposals for ~~reform and~~ investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate, within the relevant Treaty- based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9 . _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1) based on the approved strategic orientations for investment of the euro area.

Amendment 69 #

Proposal for a regulation
Recital 6

(6) ~~The~~ Member States whose currency is the euro ~~can decide to~~may submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectivpackages of reforms and investment ~~that can be supported~~s under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discuss, based on the respective frameworks for the two application perionds, where appropriate, within the relevant Treaty- based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/from 1January 2021 to 31 December 2022 and from 1 January 20123 of the European Parliament and of the Council9 . _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1)until the end of the budgetary period.

Amendment 70 #

Hélène LAPORTE, Hervé JUVIN

Proposal for a regulation
Recital 6

(6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate, within the relevant Treaty- based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9 . _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1)he package of reforms and investment should be present alongside with National Reform Programme.

Amendment 71 #

Proposal for a regulation
Recital 6

(6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Rrecommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate, within the relevant Treaty- based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9. _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1).

Amendment 72 #

Proposal for a regulation
Recital 6

(6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate, within the relevant Treaty-based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9. _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1).

Amendment 73 #

Proposal for a regulation
Recital 6

(6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate, within the relevant Treaty-based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council9. _________________ 9 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1).

Amendment 74 #

Proposal for a regulation
Recital 7

Amendment 75 #

Proposal for a regulation
Recital 7

Amendment 76 #

Proposal for a regulation
Recital 7

Amendment 77 #

Proposal for a regulation
Recital 7

Amendment 78 #

Gunnar BECK, Maximilian KRAH, Jörg MEUTHEN, Antonio Maria RINALDI

Proposal for a regulation
Recital 7

(7) The Council and European Parliament Recommendation providing country-specific guidance on the objectives of reforms and investment in Member States whose currency is the euro, adopted by qualified majority, should be based on a Commission recommendation. This process should be without prejudice to the voluntary nature of participation of Member States whose currency is the euro in the budgetary instrument for convergence and competitiveness, and without prejudice to the Commission’s prerogatives as regards its implementation.

Amendment 79 #

Proposal for a regulation
Recital 7

(7) The Council Recommendation providing country-specific guidance on the objectives of reforms and investment in Member States whose currency is the euro, adopted by ~~qualified major~~unanimity, should be based on a Commission recommendation. This process should be without prejudice to the voluntary nature of participation of Member States whose currency is the euro in the budgetary instrument for convergence and competitiveness, and without prejudice to the Commission’s prerogatives as regards its implementation.

Amendment 80 #

Proposal for a regulation
Recital 7

(7) The Council Recommendation providing country-specific guidance on the objectives of reforms and investment in Member States whose currency is the euro, adopted by qualified majority, should be based on a Commission recommendation. This process ~~should~~must be without prejudice to the voluntary nature of participation of Member States whose currency is the euro in the budgetary instrument for convergence and competitiveness, and without prejudice to the Commission’s prerogatives as regards its implementation.

Amendment 81 #

Proposal for a regulation
Recital 7 a (new)

(7 a) Member States should be allowed to invest without constraint within the framework of the objectives set by the Commission.

Amendment 82 #

Proposal for a regulation
Recital 8

(8) Within the governance framework set out in this Regulation, the Council should set out the strategic orientations for the euro area as a whole and provide country-specific guidance on the objectives of reform and investment packages of the individual Member States whose currency is the euro. The Commission implements the Union’s budget under Article 317 TFEU, which includes the management of spending programmes, in accordance with the principles of sound financial management, budgetary control and parliamentary accountability. The Commission responsibilities with regard to the budgetary instrument for convergence and competitiveness [within the Reform and Investment Support Programme] under Regulation (EU) XXXX/XX should not be affected.

Amendment 83 #

Proposal for a regulation
Recital 8

(8) Within the governance framework set out in this Regulation, the Council should set out the strategic orientations ~~for the euro area as a whole and provide country-specific guidance on the objectives of~~on reforms and investment ~~packages of the individual Member States whose currency is the euro~~s for the euro area. The Commission implements the Union’s budget under Article 317 TFEU, which includes the management of spending programmes. The Commission responsibilities with regard to the budgetary instrument for convergence and competitiveness [within the Reform Support Programme] under Regulation (EU) XXXX/XX should not be affected.

Amendment 84 #

Proposal for a regulation
Recital 8

(8) Within the governance framework set out in this Regulation, the Council should set out the strategic orientations for the euro area as a whole and provide country-specific guidance on the objectives of reform and investment packages of the individual Member States whose currency is the euro. The Commission implements the Union’s budget under Article 317 TFEU, which includes the management of spending programmes. The Commission responsibilities with regard to the budgetary instrument for convergence and competitiveness [within the Reform Support and Investment Programme] under Regulation (EU) XXXX/XX should not be affected.

Amendment 85 #

Proposal for a regulation
Recital 9

(9) On the basis of an assessment by the Commission, the Council, shall establish which Member States are experiencing a severe economic downturn for the purpose of a modulation of national co-financing rates provided for in Regulation (EU) XXXX/XX [Reform Support Programme Regulation], and without prejudice to the application of Article 2(2) of Council Regulation (EC) 1467/97 as amended. Such co-financing may be as high as 95% where the Member State is going through a severe downturn.

Amendment 86 #

Proposal for a regulation
Recital 9

(9) On the basis of an assessment by the Commission, the Council~~, shall~~ may establish ~~which Member States are experiencing a severe economic downturn~~, for the purpose of a modulation of national co-financing rates provided for in Regulation (EU) XXXX/XX [Reform and Investment Support Programme Regulation], ~~and without prejudice to the application of Article 2(2) of Council Regulation (EC) 1467/97 as amended~~that a Member State is experiencing a severe economic downturn or that it no longer experiences a severe economic downturn.

Amendment 87 #

Antonio Maria RINALDI, Gunnar BECK, Hervé JUVIN, Maximilian KRAH, Hélène LAPORTE, Jörg MEUTHEN

(9) On the basis of an assessment by the Commission or based on request by a Member State, the Council, shall establish which Member States are experiencing a severe economic downturn for the purpose of a modulation of national co-financing rates provided for in Regulation (EU) XXXX/XX [Reform Support Programme Regulation], and without prejudice to the application of Article 2(2) of Council Regulation (EC) 1467/97 as amended.

Amendment 88 #

Proposal for a regulation
Recital 9

(9) On the basis of an assessment by the Commission, the Council, shall establish which Member States are experiencing a severe economic downturn for the purpose of a modulation of national co-financing rates provided for in Regulation (EU) XXXX/XX [Reform Support and Investment Programme Regulation], and without prejudice to the application of Article 2(2) of Council Regulation (EC) 1467/97 as amended.

Amendment 89 #

Proposal for a regulation
Recital 10

(10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic and social dialogue, the competent committee of the European Parliament can invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup, and the social partners to appear before the committee to discuss the measures foreseen and taken pursuant to this Regulation. The Commission should make all relevant information available to the European Parliament and to the Council simultaneously.

Amendment 90 #

Proposal for a regulation
Recital 10

(10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, it should be possible for the competent committee of the European Parliament ~~can~~to invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures foreseen and taken pursuant to this Regulation. The Commission should make all relevant information available simultaneously to the European Parliament and to the Council without undue delay.

Amendment 91 #

Proposal for a regulation
Recital 10

(10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament can invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures foreseen and taken pursuant to this Regulation. The Commission must make allrelevant information available to the European Parliament.

Amendment 92 #

Proposal for a regulation
Recital 10

(10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament can invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures envisaged and taken pursuant to this Regulation. The Commission should make all relevant information available to the European Parliament and to the Council simultaneously.

Amendment 93 #

Proposal for a regulation
Recital 10

(10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament ~~can~~, before the Commission presents its recommendations for the euro area, may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee tofor a discuss ~~the measures tak~~ion on the strategic orientations on the reform and investment p~~ursuant to this Regulation~~riorities of the euro area.

Amendment 94 #

Antonio Maria RINALDI, Gunnar BECK, Hervé JUVIN, Maximilian KRAH, Hélène LAPORTE, Jörg MEUTHEN

(10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament can invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures taken pursuant to this Regulation. The competent committee may draw up a report assessing the effectiveness, efficiency, consistency and relevance of the measures taken.

Amendment 95 #

Proposal for a regulation
Recital 11

(11) The Commission should report to the European Parliament and the Council, at regular intervals, on the effectiveness of this Regulation in contributing to the strategic objectives.

Amendment 96 #

Proposal for a regulation
Recital 12

(12) Since the objective of this Regulation to contribute to the proper functioning of Europe’s Economic and Monetary Union and to the econ~~vergence and competitiveness~~omic, social and environmental convergence within the euro area by setting out a governance framework for the budgetary instrument for convergence and competitiveness cannot be sufficiently achieved by the Member States and can therefore, by reason of the scale of action, be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity set out in Article 5 of the Treaty on the European Union. In accordance with the principle of proportionality, as set out in that article, this Regulation does not go beyond what is necessary in order to achieve that objective,

Amendment 97 #

Proposal for a regulation
Article 1 – paragraph 1

1. This Regulation lays down provisions for the governance framework relevant for the budgetary instrument for convergence and competitiveness for the euro area within the Reform Support and Investment Programme under Regulation (EU) XXX/XX10 . _________________ 10 O.J.C , , p.

Amendment 98 #

Proposal for a regulation
Article 1 – paragraph 1

Amendment 99 #