Examples of using Corrective part in English and their translations into German
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The SGP includes a preventive part and a corrective part.
The corrective part of the SGP, is meant to avoid gross errors in budgetary policies.
Counseling, diagnostics, preventive maintenance, predictive and corrective parts and accessories More….
The corrective part of the pact has only undergone minor changes, compared with what the Treaty and the Stability Pact say on the matter.
Improving implementation of the excessive deficit procedure(corrective part of the Pact);
In the corrective part, a non-interest bearing deposit amounting to 0.2% of GDP would apply upon a decision to place a country in excessive deficit.
Counseling, diagnostics, preventive maintenance, predictive and corrective parts and accessories supply forklifts and heavy machinery.
The corrective part of the Stability and Growth Pact' means the procedure for the control of Member States' excessive deficit as regulated by Article 126 of the Treaty and Regulation(EC) No 1467/97 of 7 July 1997;
On the fiscal side, both the preventive and the corrective parts of the Stability and Growth Pact should be reinforced.
In the corrective part of the Stability and Growth Pact, the Commission should also be able to propose to reduce the size of a sanction or to cancel it on grounds of exceptional economic circumstances.
There must be a gradual differentiation of sanctions in the preventive and corrective parts of the Stability and Growth Pact.
Changes in both the preventive and corrective part of the SGP are backed up by a new set of gradual financial sanctions for euro-area Member States.
The most important thing, however,is to progress towards economic governance with strong preventive and corrective parts, so as to avoid such sanctions.
In order to be consistent in our preventive measures,we also need, in the corrective part of the Pact, in the excessive deficit procedure, to take account of the circumstances of each country and which stage of the cycle each country's economy is at.
To this end, it is extremely important, and this is the second key element in our discussion, to prevent the application of the pact leading in practice to pro-cyclic policies,both in the preventive part and in the corrective part of the excessive deficit procedure.
In the Stability and Growth Pact, for which I was rapporteur for the corrective part, it is possible to add the idea of growth to that of stability and budgetary discipline.
In the corrective part of the Stability and Growth Pact, sanctions for Member States whose currency is the euro should take the form of an obligation to lodge a non-interest-bearing deposit linked to a Council decision establishing the existence of an excessive deficit and the obligation to pay a fine in the event of non-compliance with a Council recommendation to correct an excessive government deficit.
National fiscal planning can only be consistent with both the preventive and the corrective parts of the Stability and Growth Pact if it adopts a multi-annual perspective and pursues the achievement of the medium-term budgetary objectives in particular.
In the spirit of Council Regulation(EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies5 and Council Regulation(EC) No 1467/97 of 7 July 1997 on speeding up and clarifyingthe implementation of the excessive deficit procedure6, the preventive and corrective parts of the Stability and Growth Pact should not be regarded in isolation.
This mainly involved strengthening the preventive and corrective parts of the GSP, and ensuring that all Member States had national budgetary rules and a medium-term budgetary framework that were in line with the GSP.
The preventive arm, although relying on a combination of numerical and procedural rules as the corrective part, focuses mainly on medium-term planning, peer support and pressure and exchanges of best practices.
Countries that fail to meet the obligations in the preventive and corrective part of the Stability and Growth Pact may be subject, unless they take appropriate measures(the suitability of which will be decided by the Council) and present a rebalancing plan, to the application of financial sanctions equal to 0.1% of GDP.
The size of the interest-bearing deposit, of the non-interest-bearing deposit and of the fine provided for in this Regulation should be set insuch a way as to ensure a graduation of sanctions in the preventive and corrective parts of the Stability and Growth Pact and to provide sufficient incentives for the Member States whose currency is the euro to comply with the fiscal framework of the Union.
The rules laid down by this Regulation should ensure fair, timely,graduated and effective mechanisms for compliance with the preventive and the corrective parts of the Stability and Growth Pact, in particular Regulation(EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies2 and Council Regulation(EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure3.