Question (translation): Mr Duisenberg, over the past few days there have been a whole range of issues of government paper on the European capital market. How do you assess this wave of issuing activity?
With respect to final demand, public-sector investment has decreased, and housing investment has declined, reflecting the reversal in the stepped-up demand which took place ahead of the rise in the consumption tax rate. However, net exports have continued to rise and business fixed investment is increasing steadily.