Ms Isolde Goggin:

I do not think anybody is really. We are very much in touch with what is going on in Europe. It is at the stage of people doing academic papers and trying to figure out what is going on. I do not think we are at the stage of really understanding. We took action about online bookings in relation to the most favoured nations clauses. That was going on across a lot of competition authorities in Europe at the same time. I do not think we are behind the ball, but I would not say we are ahead of it either. We are keeping in touch with what is going on. I expect that much of the enforcement which might come out of this might take place at European Commission level because these markets are intrinsically transnational. When we deal with online markets, we are not really looking at national markets any more.