Mr. John McCarthy:

There have been circumstances already within the rules in which countries such as Italy have taken advantage of these exceptional circumstances that have allowed them to spend beyond the limits set under the Stability and Growth Pact. If, for instance, we had a shock to the economy, we would be allowed to deviate from the adjustment path or medium-term budgetary objective, MTO, on the basis of a severe shock. There is absolutely no question about that and the Commission is on board on that.