Changes from report parliamentary committee draft to plenary report

Added(b) paragraph 4 is replaced by the following:

Added‘4. The Commission shall make an overall assessment of the budgetary situation and prospects in the euro area as a whole, on the basis of the national budgetary prospects and their interaction across the area, relying on the most recent economic forecasts of the Commission services.

AddedIt shall, as appropriate, outline measures to reinforce the coordination of budgetary and macroeconomic policy at the euro area level.

AddedThe overall assessment shall be made public and shall be taken into account in the annual general guidance to Member States issued by the Commission.’;

Added(8) in Article 8, paragraph 1 is replaced by the following:

Added‘1. Member States shall report to the Commission, ex ante and in a timely manner, on their national debt issuance plans.’;

Added(9) Article 9 is deleted;

Added(10) Article 10 is replaced by the following:

Added‘Article 10

AddedReporting requirements for Member States in excessive deficit procedure

Added(1) Where the Council makes recommendations to the Member State concerned in accordance with Article 126(7) TFEU, following the submission of the first report on action taken referred to in Article 3(5) of Regulation (EC) No 1467/97, the Member State shall submit follow-up reports on effective action to the Council and the Commission on a six-monthly basis until the Council abrogates the decision on the existence of an excessive deficit. The content of those follow-up reports on effective action shall be as specified in Article 3(5) of Regulation (EC) No 1467/97.

Added(2) Where the Council gives notice to the Member State concerned in accordance with Article 126(9) TFEU, following the submission of the first report on action taken referred to in Article 5(1a) of Regulation (EC) No 1467/97, the Member State shall submit follow-up reports on effective action on a quarterly basis until the Council abrogates the decision on the existence of an excessive deficit. The content of those follow-up reports on effective action shall be as specified in Article 5(1a) of Regulation (EC) No 1467/97.

Added(3) The reports on effective action referred to in paragraphs 1 and 2 may be included in the annual progress report as defined under Regulation (EU) 2024/1263, and in the draft budgetary plan, where possible.

Added(4) When assessing whether the Member State is taking effective action under the excessive deficit procedure, as established by a Council recommendation under Article 126(7) TFEU or a Council decision to give notice under Article 126(9) TFEU, the Commission shall base its assessment, inter alia, on the reports submitted by the Member States in accordance with paragraphs 1 and 2 of this Article.

Added(5) The Commission may request additional information from Member States if it deems it necessary for budgetary surveillance purposes.

Added(6) The monitoring established under this Article shall be an integral part of the regular monitoring as provided for in Article 10(1) of Regulation (EC) No 1467/97, of the implementation of action taken by the Member State concerned in response to Council recommendations under Article 126(7) TFEU or Council decisions to give notice under Article 126(9) TFEU to correct the excessive deficit.’;

Added(11) Articles 11 and 12 are deleted;

Added(12) Article 13 is replaced by the following:

Added‘Article 13

AddedConsistency with Regulation (EU) No 472/2013 of the European Parliament and of the Council*

AddedMember States subject to a macroeconomic adjustment programme shall not be subject to Articles 6, 7, 8 and 10 of this Regulation.

Added___________

Added* 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, ELI: http://data.europa.eu/eli/reg/2013/472/oj).’;

Added(13) Article 14 is deleted;

Added(14) Article 15 is amended as follows:

Added(a) paragraph 1 is amended as follows:

Added(i) point (b) is replaced by the following:

Added‘(b) the results of the discussion of the Eurogroup on the Commission opinions adopted in accordance with Article 7(1) and (2), to the extent that they have been made public;’;

Added▌

Added(ii) point (d) is replaced by the following:

Added‘(d) Council acts adopted pursuant to Article 126(8) and Article 126(11) TFEU.’;

Added▌

Added(b) paragraph 2 is amended as follows:

Added‘2. The competent committee of the European Parliament may offer the

Addedopportunity to the Member State that is the subject of the Council acts referred to in

Added(15) Article 16 is replaced by the following:

Added‘Article 16

AddedReview and reports on the application of this Regulation

Added(1) By XXX, and every five years thereafter, the Commission shall submit to the European Parliament and to the Council a report on the application of this Regulation, accompanied, where appropriate, by a proposal to amend this Regulation. The Commission shall make that report public.

AddedThe report referred to in the first subparagraph shall review:

Added(a) the effectiveness of this Regulation in achieving its objectives as set out in Article 1;

Added(b) the progress in ensuring closer coordination of economic policies and sustained convergence of economic performances of the Member States in accordance with the TFEU;

Added(c) the contribution of this Regulation to achieving sustainable and inclusive growth and social and economic resilience.

Added(2) The report shall be transmitted to the European Parliament and the Council.’;

Added(16) Article 17 is deleted.

AddedThis Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

AddedThis Regulation shall be binding in its entirety and directly applicable in the Member States in accordance with the Treaties.

AddedDone at Brussels,

AddedFor the European Parliament For the Council

AddedThe President The President