Translation of "Dette publique ou garantie par l'État " (French → English) :

A. whereas the equivalent of EUR 1,6 trillion was granted in State aid to banks in the EU in the period from 2008 until the end of 2011, and whereas State aid was generally provided by subscribing to debt or guarantee issues or, in exceptional cases, in the form of a grant;

D. whereas the OECD in its 2012 report estimates the value of implicit state guarantees in 2012, in terms of cost savings to EU banks, at around USD 100 billion, with wide variations between banks and Member States and the greatest benefit accruing to the banks of greatest size, particularly if they are perceived to be weak, and to banks based in the Member States with the highest sovereign credit rating; whereas the report finds that such guarantees extend beyond those banks classified as SIFIs (‘systemically important financial institution’) under the Financial Stability Board’s methodology;

D. whereas the OECD in its 2012 report estimates the value of implicit state guarantees in 2012, in terms of cost savings to EU banks, at around USD 100 billion, with wide variations between banks and Member States and the greatest benefit accruing to the banks of greatest size, particularly if they are perceived to be weak, and to banks based in the Member States with the highest sovereign credit rating; whereas the report finds that such guarantees extend beyond those banks classified as SIFIs (‘systemically important financial institution’) under the Financial Stability Board’s methodology;

(36a) The Commission should put forward a report, and if necessary a proposal, to the European Parliament and to the Council, evaluating the possibility of the creation, within the Commission, of a European debt authority, which would be responsible for managing and coordinating all issues related with the annual debt issuance plan of the Member States, the renewal of outstanding debt and with the assessment of the sustainability of all Member States' governments debt.

F. whereas since 1980 Africa’s long-term external public debt (i.e. debt contracted or guaranteed by the public authorities) has continued to rise sharply; whereas the rationale imposed by international organisations, in particular the IMF and the World Bank, and through them by the most powerful creditors, is indisputably leading Africa and the world into an impasse and is a major obstacle to the achievement of the UN’s Millennium Development Goals,

The following, for example, are to be considered as aid: capital transfers, reduced-interest loans, interest subsidies, certain State holdings in the capital of undertakings, aid financed by special levies or parafiscal charges, aid granted in the form of State securities against bank loans, the reduction of or exemption from charges or taxes, including accelerated depreciation and the reduction of social contributions.