Translation of "clause de respect de ratios financiers " (French → English) :

79. Accepts the use of budget support only where there are watertight guarantees that funds will reach their intended destination and satisfy their original purpose and where recipients fulfil human rights and democratic governance criteria; looks forward to more effective assessment and auditing of budget support to analyse if the intended goal is achieved and if governments in the recipient countries comply with the abovementioned criteria; calls on the Commission to establish an IT-based scoreboard under the scrutiny of the European Parliament to assess the efficiency of Community aid in the field of poverty reduction, education and ...[+++] job creation, with this scoreboard being based on the degree of compliance with the expected financial ratios and aims;

1. Based on assessments by the Commission and the Economic and Financial Committee, the Council shall, within the framework of multilateral surveillance under Article 121 TFEU, examine the medium-term budgetary objectives presented by the Member States concerned in their convergence programmes, assess whether the economic assumptions on which the programme is based are plausible, whether the adjustment path towards the medium-term budgetary objective is appropriate, including consideratio ...[+++]n of the accompanying path for the debt ratio, and whether the measures being taken or proposed to respect that adjustment path are sufficient to achieve the medium-term budgetary objective over the cycle and to achieve sustained convergence.

1. Based on assessments by the Commission and the Economic and Financial Committee, the Council shall, within the framework of multilateral surveillance under Article 121 TFEU, examine the medium-term budgetary objectives presented by the Member States concerned in their stability programmes, assess whether the economic assumptions on which the programme is based are plausible, whether the adjustment path towards the medium-term budgetary objective is appropriate, including consideratio ...[+++]n of the accompanying path for the debt ratio, and whether the measures being taken or proposed to respect that adjustment path are sufficient to achieve the medium-term budgetary objective over the cycle.

In particular, the three energy companies believe they will suffer two types of financial harm if the aid scheme were to be implemented immediately. Firstly, that caused by the, allegedly too high, fixed prices for the obligatory purchase of domestic coal and, secondly, that resulting from the fines they would have to pay if they failed to respect their international contracts for the provision of gas and coal by virtue of “take or pay” clauses in those ...[+++]contracts.

It also sought to include specific clauses into preferential agreements enabling one party to insure itself against cases of fraud or failure by the other party to administer and check compliance with the terms of the agreement, and against the financial injury that might result from such failures.

The information contained in three reports (economic performances, financial ratios, fulfillment of conditions attached to the acceptance of aids) shall be treated in the strictest confidence in accordance with article 47 ECSC, but without entering in details it seems that globally the commitments taken are respected and that the performance of the companies is improving.