Mr. Marco Buti:

And, even more importantly, at the EU and at global level. So, the FSB guidelines for the global community were issued later on and we did not have what we have now, the BRD, which, you know, allow clear rules for a bail-in. So, this implies that the litigation ... potential litigation costs related to that could have been very high, prolonging the uncertainty and eventually wiping out largely, if not more than largely, the potential gain coming from the direct bail-in of senior bondholders.