Mr. Marco Buti:

That is an instrument that is indeed available. We are again ... and I repeat and I hope that in the future things may change ... we are in an intergovernmental setting. So, it is ... this is not an instrument which is under the responsibility of the Commission. My hope is that in the future, we would integrate the ESM in the context of the Community setting, and we would streamline and make more efficient the decision-making on that, but this is not for now, it is for the future and the decision of the ESM is made by the member states, and there is unanimity rules on this, so everybody has to agree. The conditions for using the direct recapitalisation are made pretty stringent. So far, let's say, the prevailing view on the part of the member states has been that ... not to consider this as a suitable instrument. Now, if one takes the situation as it stands now, independently of the decisions that could have been made in the future, the question is "Is that necessary or wise now to have that?" I think the situation now has improved substantially and there is an upside in terms of the banks' situation. So should, I think, at this stage ... maybe it is wiser for the Government to benefit from the upside, rather than to leave it to the ESM.