Dr. Kieran McQuinn:

Yes. We touched on that earlier in the potential implications for the financial services sector in London if the UK leaves the EU. There was an important court ruling some years back where the European Central Bank tried to prevent London-based firms from dealing in euro denominated bonds because the UK was not in the euro area. The European Court of Justice ironically ruled that they could continue to do so because the UK was in the EU. If the UK leaves, it is likely that such a case will be brought again and that might have substantial implications.