| Motion: | Government’s proposal for Regulation 2024/XX/EF laying down the general framework addressing the macroeconomic and financial situation in Italy and the Federation |
|---|---|
| Proposer: | Committee - Social policy |
| Status: | Accepted |
| Submitted: | 2024-07-06, 13:31 |
employment in areas struck by economic and social blasts, with the objective of saving employment, in regards to the European pillar of social rights.
HAVE ADOPTED THE FOLLOWING REGULATION:
The present Regulation lays down immediate action to solve the issues caused by
Italy’s state of bankruptcy, and the protest waves all over the Federation’s
territory.
For the purposes of this Regulation:
Savings - Refers to the amount of money owned by private individuals, and
used by an investment asset by private banks.
Revitalisation - Refers to the policy of ensuring the economic and social
resilience of a territory after suffering a major blow.
Ledger - A book or other scheme for keeping accountingrecords
The Federation should, in the long run, become the sole owner of all existing
national public debt of the Federated States. In accordance with Article 51.2 of
the European Youth Convention, the Federation shall take-over the existing
national public debts in order to reimburse them.
A transitional period shall commence in the month subsequent to the enactment of
this directive. The procedures outlined herein shall be uniformly applied
throughout the entirety of the transitional period:
Upon the expiration of each national bond, the Federal Treasury Agency
shall issue a corresponding new bond to settle the national bond, thereby
transferring the associated liability to the Federal ledger;
Federated States may request a grant from the Federal Treasury Agency
during the transitional period, provided that their annual budget exhibits
a deficit;
The aforementioned procedures shall terminate upon the complete transfer
of all debts owed by Federated States to the Federal ledger.
The Federal debt mechanism is funded through indirect contribution from European
household's savings. The Federal Treasury Agency shall ensure the repayment of
its financial assets by securing them on household’s savings located on saving
bank accounts located on the European Federation’s territory.
The Federated Government shall propose and enforce a plan to regenerate
employment in areas struck by economic and social blasts, with the objective of
saving employment, in regards to the European pillar of social rights.
Whenever a local authority equivalent to NUTS 2 notifies the services of the
Federal government of a major economic blast reasonably threatening employment
in a specific area, the Government shall propose to the local government, to the
House of European Citizens and to the European Senate a plan based on the
Federal framework for employment regeneration in stricken areas (FFERSA).
The FFERSA shall be funded by extraordinary bonds issued by the Federal
government, according to Article 51-2 of the European Youth Convention. The
total amount of this bond shall be allocated to financing recovery in the
stricken area, via funding local plans (proposed by NUTS 2) for safeguarding
employment.
The bond shall be issued within a time period of less than two months, allocated
to the NUTS 2-lead project in the following month, and eventually be spent in
less than 5 months after the economic backlash.
Every citizen shall have the right to peaceful assembly and protest, provided
that such protest does not infringe upon the rights and freedoms of others or
compromise national security.
The Government shall take appropriate and proportionate measures to ensure the
rights and freedoms of others as well as national security.
While the right to protest is recognized, it is incumbent upon the protesters to
ensure their actions remain within the bounds of law and order. Any act of
violence, vandalism, or public disorder shall not be tolerated and will be
subject to legal penalties.
For protests involving a significant number of participants, a permit must be
obtained from local authorities. This is to ensure public safety and order, and
not to restrict the right to protest. The process for obtaining such a permit
should be transparent, non-discriminatory, and expedient.
The present Regulation shall enter into force immediately following its
publication in the Official Journal of the European Federation.
The Government shall be allowed to adopt any decree or implementing act
related to the implementation of the technical aspects of the present
Regulation.
It shall apply from [Day][Month][Year]
The present Regulation shall be binding in its entirety and directly applicable
to the European Government and in all Member States.
For the European Parliament
The President
For the European Senate
The President
