We believe that, if the Stability and Growth Pact is not respected, what we would lose in terms of the confidence of households, entrepreneurs and the economy in general would decrease growth more than the illusory expansive impact of a fiscal deficit. 10) And would you agree with a country, for instance Italy, raising taxes but putting off cutting labour costs?
Answer: We have two different questions there. One is if an economy has lost a certain degree of cost competitiveness and has to regain it.