And because one of the main reasons that we have come to London is to hear your thoughts and concerns, I'll leave plenty of time for your comments and questions. Macroeconomic trends in the global economy The turbulence in global financial markets, which has been with us since last August, continues to be a major focus.
It is conceivable, although unlikely during the next two or three years, that we could reduce unemployment by 5 percent of the labour force again. But it is clearly inconceivable that we can do that repeatedly, since that would quickly imply negative unemployment.