if we observe in two years time that we made consistent progress we will issue binding targets which the member states would presumably not be in position to reject
If we observe in two years' time that we have not made sufficiently consistent progress, then we will issue binding targets, which the Member States would then presumably not be in a position to reject.
If we observe in two years' time that we made consistent progress, we will issue binding targets, which the Member States would presumably not be in position to reject.