Dr. Mark Cassidy:

That might be a useful money amount at the moment but we also have to look at it in the context of how the economy is performing over time. Rather than looking at the euro amount, we prefer to look at the capacity to repay the debt and the best metric of that is debt as a share of income. The current debt ratio as a share of income is around 100%. There is no precise figure. The days when people put a very exact figure on this are over. We would certainly like that to be reduced towards 60% or something like that over a period of time. We do not want a sudden knee-jerk reduction in debt. The reason I made my first clarification is that that will happen through sustained growth in the economy rather than reducing the nominal amount of debt. By increasing the income, the debt ratio will therefore reduce. It is not a case of looking to reduce the amount of debt but of increasing income.