I have already mentioned the decline in competitiveness that occurred prior to the crisis. In this respect Ireland certainly had a steep mountain to climb. In 2008, Irish unit labour costs, as an indicator of competitiveness, were more than 40% higher than at the launch of EMU.
So whatever decisions Mr Trump and his administration may take, what we want is for them to be analysed and discussed in an international context, particularly in the context of the G20, which is really the forum where such discussions should take place. Aren’t you worried, however, about the protectionist measures that Donald Trump is planning in the months, the years, to come?