Mr. Michael Tutty:

Our estimate is that if inflation was fully taken into account it would add €4.1 billion to the expenditure projections. As I said, that does not have to take place. If, however, one is going to take measures to avoid the effects of inflation through achieving greater efficiencies or not increasing benefits in line with inflation, one has to take action to avoid that. If those actions are not taken, €4.1 billion is our estimate of what inflation will add to the costs-----