You made it clear that here at the Bundesbank, all that glitters is gold and that we have unrestricted access to all the gold that is on our books.
A few statistics tell the facts: between 2007 and 2012 GNP fell by 11 per cent in real terms and 20 per cent in nominal terms, while domestic spending fell by almost 25 per cent in real terms and almost 30 per cent in nominal terms.