Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I agree with Mr. Barnes because if we are running deficits, and our debt is more than 200% of GDP, then there is a major risk but the problem with rules is that if rules are set down in law and they are not able to take into account, that is a consideration. There is a bit of movement this year in terms of the four-year adjustment, and up to seven years and so on, but the rule is still there that we have to reduce by up to 0.5% of GDP and, to my reading, this does not just affect the number of highly-indebted countries but many countries right across Europe. The average in terms of Europe is 85%, so Germany is above 60%. Croatia, Finland, Slovenia, Hungary, Austria, Cyprus, Belgium, France, Spain, Italy, Portugal and Greece are all above 60%. What is Mr. Barnes's understanding of the type of adjustment? The 0.5% is not specified. Just to clarify, what is that adjustment? Does it relate to expenditure, the volume of debt? Will Mr. Barnes give clarity on that?