Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-28-Speech-3-281-281"

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"I wholeheartedly support Mr Feio’s report. It is crucial that the assessment should include not only deficit but also debt. This explains the insertion of the numerical criterion for the reduction of public debt at the ‘satisfactory pace’ required by the Treaty, on the basis of which the difference between current public debt and the reference value of 60% must be reduced at an average rate of one-twentieth over a three-year period. Another crucial factor concerns the fact that, when applying the regulation on government debt, the Commission will have to take into account ‘all other relevant factors’, (including private debt and the characteristics of the banking system), which is fundamental for countries with significant private savings."@en1

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