▪ Last, but not least, we must proactively explore opportunities for funding the investments on a sustainable basis, that are needed to deliver desired outcomes for the next 75 years. Everyone has a role to play here, and we must all join forces to ensure that our university is able to provide educational facilities and experiences for students that shape them into world leaders.
Let me now explain our assessment in greater detail, starting with the economic analysis. Euro area real GDP contracted by 0.2%, quarter on quarter, in the second quarter of 2012, following flat growth in the previous quarter. As regards the second half of 2012, the available indicators continue to signal weak activity.