It must be emphasised that IBC itself is a resolution framework, whereby such accounts will have sufficient time (180 days from the date of default plus up to 270 days under the IBC) for effective resolution. 7.
*  *  *  Can you please describe the current risks of inflation in Europe? We have, in the eyes of the Governing Council, as I expressed on 7 December in my press conference, several risks. One is the pass-through of past increases in the price of oil and raw commodities that have not yet materialised in the consumer prices.