Mr. Vasileios Madouros:

That is a very good question. It is important in the context of the global environment. The Deputy is right. The dollar has depreciated significantly and the euro has appreciated. That is one of the surprises we have seen in recent months. If the Deputy had asked what might happen if the US was to impose tariffs unilaterally, a depreciation of the dollar is not necessary what many would have expected. It does have an effect on exporters, especially more indigenous companies. In some cases, it might have a bigger impact in terms of the depreciation of the dollar or the appreciation of the euro relative to tariffs. It is important as an economic variable. In the context of where that might go, it is hard to tell. Some of the patterns we have seen in financial markets, which included a depreciating dollar and rising yields on US Treasury bonds, would be consistent with some degree of a risk premium on US dollar assets, at least temporarily but how this might evolve over time is difficult to tell.