I fully endorse the agreement because it contains the successful formula of previous agreements, namely, consistent policy framework, macro-economics and structural areas. I wish it every success. It is vital that it works and is adhered to and that first class industrial relations continue. We must retain our competitive edge because, if we do not, we will have difficulty selling our products. As a former Minister of State with responsibility for trade and marketing, I know it is a major advantage that the euro is not strong vis-à-vis the dollar and sterling. However, it is competitive at present. We will compete with the new member states after next year.