In this regard, there are welcome signs of a somewhat improved export performance in the first quarter of this year but we need to see further data in the coming months before we can be confident that a sustained improvement is taking place. Last year was a very good one for the public finances.
In the Group we argued that it would facilitate the task of the management and the board as steering effort to the right direction by means of incentive schemes, for example, is easier in a less complex organisation, where the organisational units are more homogeneous. A more primitive benefit of separation is that reduced complexity makes it easier to understand the bank.