We are experiencing a market correction that is very large, very challenging and very turbulent. It is a process that is still under way. We have to demonstrate responsibility, at the public and the private level, and we have to be ready to deal with unexpected events, which have been a characteristic of this crisis. In short, we have to remain permanently alert.
It seems that the financial crisis spilled over into the economy and that this economic crisis could in turn now weigh on the financial system and on banking results, for example via an increase in the number of failures. Until the middle of last September, the crisis was largely financial.