Professor John McHale:

We would be happy to see it somewhat lower but - I do not want to make too many qualifications to my remarks - we do see it as a prudent policy. Our concern is that it might go beyond €2.4 billion. We do not see any scope for going in any way significantly beyond that without getting into territory where we would see it as not a prudent policy in terms of the overall objectives of the cyclical management and risk management of the economy in bringing the deficit and debt down.