Mr. John A. Moran:

Landlords and rents are just costs for businesses. Ultimately, the choice we all have to face is who bears the burden. The loss of €6 billion or €7 billion will not just disappear into thin air, so we will have to find a fair way to allocate the costs. In some European countries, there have been conventions, or what one might call codes, where governments have brought together some of the major landlords to agree what the fair resolution of that would be-----