00:00Well, we went through similar situations in the last 10, 15 years in Spain, in Italy, in Greece, in Portugal.
00:10And it's quite funny to see how these countries that went, you know, into a big crisis now,
00:17they are the best performing countries in Europe.
00:19So, most likely, you're going to need to see something similar developing in other parts of Europe
00:25in order to restore a credible path to growth.
00:29You mean austerity? Is that?
00:31It needs to go through hard measures.
00:35So, I don't think it's incremental.
00:37Small changes are not going to be enough to resolve the big debt pile.
