Mr. John Hurley:

Yes, I think that is true. I would like to be able to give the committee fuller documentation about how collective agreements, which often include severance pay entitlements that are significantly above statutory entitlements, are dealt with in various countries. In the summary we did of the legislation in the various member states in 2020 and 2021, we found that only in France and possibly Hungary was concrete reference made to the fact that collectively negotiated severance terms were part of what the wage guarantee fund should actually cover in cases of insolvency.

In the majority of countries, I did not find any reference to such an extended scope, if you like, of the wage guarantee coverage.