This does not necessarily mean that they will shrink in absolute terms, particularly given the population is growing quickly, but certainly their growth prospects would be weaker than in an alternative state of the world in which the resources sector was to remain at its historical size. It follows that adjustment challenges will arise, with industrial and geographical implications.
I am convinced that we need to verify the fact base used in our assessment. In my opinion, it would be difficult to conduct our data analyses in isolation in Frankfurt, and then communicate the facts to the banks when the results of the assessment are disclosed in October, without ever discussing matters at the technical level.