Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-443-000"
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"en.20110623.37.4-443-000"2
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".
I voted against. This is because of the introduction of a hard pro-cyclical measure to deal with the excessive deficit. I refer specifically the 1/20 measure that involves the reduction of the annual public debt by 5% in three consecutive years if it exceeds 60% of Gross Domestic Product (GDP) even if the deficit is less than 3% of GDP. This measure is based on the supposition that economic growth depends exclusively on the reduction of public spending. In other words, that tackling public debt involves the direct application of austerity plans, particularly rigorous ones, regardless of the circumstances."@en1
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