And that's what we're trying to do in Canada. Many of my colleagues at international meetings this year have commented on Canada's economic strength. It is true that we've had some good luck.
In the case of insurance companies, the situation is not as clear cut, especially if they’ve already used all their scope for diversification towards assets with a higher risk profile than sovereign debt. Has the ECB entered into an exchange rate war by launching a programme that puts pressure on its currency? No. The exchange rate is not an objective of our monetary policy.