But I think for the ECB we have to be clear that we are saying that the macro situation means that a macro view of fiscal policy would suggest that, in some of these countries, a countercyclical stance would contribute to a better outlook for the euro area and their national economies, and in turn for the euro area.
Moving a little bit on to trade, do you see Trump’s approach to trade negotiations, trade policy, as a policy shock? This is effectively Mark Carney’s argument. Again, I don’t think it’s for me to comment on individual strategies.