It would not be a monetary entity, so that adjective does not seem appropriate to me. In any case, I believe that the activity of such a fund, if created, should be strictly controlled and confined to cases of an extremely serious and specific threat.
But I would repeat that the Governing Council of the ECB has not yet taken a position on this issue. Le Point: Could a scenario be envisaged in which a country is no longer able to meet its obligations and leaves the euro area? Jean-Claude Trichet: I have always said that I will not comment on absurd hypotheses.