1 Amendments of Sirpa PIETIKÄINEN related to 2010/0276(CNS)
Amendment 183 #
Proposal for a regulation – amending act
Article 1 – point 2 – point b
Article 1 – point 2 – point b
Regulation (EC) No 1467/97
Article 2 – paragraph 1a
Article 2 – paragraph 1a
1a. When it exceeds the reference value, the ratio of the government debt to gross domestic product (GDP) is to be considered sufficiently diminishing and approaching the reference value at a satisfactory pace in accordance with Article 126 (2) (b) of the Treaty if the differential with respect to the reference value has reduced over the previous three years at an average rate of the order of one-twentieth per year and at all events by at least 0.5 % of GDP within the meaning of Article 3(4), the higher rate of reduction being applied. This ensures that government debt returns more quickly to a level below the reference value. [As a benchmark, following an assessment made over a three-year period]. For a period of 3 years from [date of entering into force of this Regulation - to be inserted], account shall be taken of the backward-looking nature of this indicator in its application.