The main consequence of having too high non-performing loans is on profits because all those loans are not providing the revenue, so the NPL question is very important to indeed restore conditions of improved profitability so that they can then offer new credits to support the recovery. But despite the recovery of the eurozone, all these positive messages, we have many challenges ahead.
One of this is brexit. What could be the biggest risk of this negotiation, of this divorce? In economic terms, one has to consider the size of the UK economy and the size of the EU to see that the consequences and the disruption would be much more significant for the smaller part in that negotiation than for the EU as a whole.