Mr. Guillaume de la Brosse:

I am sorry to interrupt. I was discussing these matters with my colleague. So far, member states have never failed to repay a loan at maturity. That is the experience. In the case that they fail - this sounds to us very unlikely - we would need to declare the event of default, which would create a big national risk for that member state and lots of reactions on capital markets. Then, we could set the money against payment due to the member state. As a last resort, we could go to court to get an injunction to pay. Different steps are foreseen to get member states paid in the unlikely scenario that would happen.