 It's over. My dear colleagues, we said that we would give them five minutes more, but the five minutes are over. And so I suggest that we start. And we will be perhaps as expeditious in our messages and our exposition. But I count very much on the audience to be as vivid, alive, and aggressive, if I may, as possible, in the question. Because again, we have perhaps even more stuff to discuss than was the case before. And I don't want to take myself too much of the time. I will only say that we had a dramatic inflection point starting mid-last year and with the inflation being back with a vengeance in the advanced economy and by way of consequence in the entire world. And that, of course, has progressively, with some lags to be frank, changed the monetary policy of the central banks, of the advanced economy and by way of consequence of many others. And even if it was relatively recent because, after all, the first interest rate increase in the US was, if I'm not misled, in March this year. But this was really marking the inflection point. So we are in a totally different universe if I compare that universe with what we had experienced during, say, around 10 years since Lehman Brothers and the post-Lieman Brothers start of the recovery. So we are in a different universe. And that has a number of consequences which are considerable for the financial world and all the issues that I suggest that we could discuss. As some of you have seen, I thought it was useful to send some kind of, I would say, wrap up of what's going on at the global level in terms of non-bank finance. And the very active way, I have to say, the Financial Stability Board, the IMF, the international institutions have to and the government and the institutions concerned to have a very active way to try to regain control of this intermediation, taking into account that the commercial banks and investment bank intermediation has been considerably improved since Lehman Brothers over the last 12 years, say. But it's not the case at all for non-banks. And all that kind of intermediation which is coming from the non-banks is probably the place where we have the most dramatic, I would say, threats to financial stability in the world. To make a long story short, let me tell you that I consider that we are still in a world which is extraordinary for a child on this front, the financial front. And that new, I would say, crisis, substantial crisis are not to be excluded at all. So only for me to list a number of questions, it's not exhaustive. There are many, many other questions. But only to be sure that I convey myself some of the questions which seems to me interesting and stimulating. But I count on all of us to be, as I would say, imaginative and creative in their own question. I would say, first, what is the likelihood of central banks of the advanced economy succeeding in regaining control of inflation? They are committed to produce around 2% inflation on both sides of the Atlantic and in the other advanced economy and by way of consequence in many other economies. In the medium term, which I would interpret in saying in three years' time, normally, if the central banks are credible and if they are taking the right decisions, if there are not new dramatic events that could come, it seems to me reasonable to say that, after all, it's pretty possible that we would be in the US, in Europe as a whole, around 2% in three years' time. But nevertheless, there is a question mark and many of us might disagree, of course, with this, I would say, statement of the central bank, which has been done again very, very forcefully by Jay Powell, by Christine Lagarde and others. Second, as always, do we have any comment on the present projections of the global growth by the international institutions? Some of us have certainly comments that would be interesting. Third, are we correctly assessing the divergences between the advanced economies, the developing world, the emerging countries? What about the, I would say, fragility of the developing countries? What about the probability of having big, big issues there? What is the likelihood of a financial crisis triggered by genuine major market corrections? I already mentioned that. Sudden stops in major market functioning, sudden stop in some of the non-bank intermediation, public or private abrupt debt losses of credit worthiness, asset bubbles correction, and so forth. Another issue should be addressed, crypto assets. What are the, I would say, cause and consequences of what happened in the crypto world? Can we expect much more drama in this domain? And what is the judgment that we can make only to convey to you what I think I have to say that I don't understand with the benefit of hindsight how we could let such instruments, at least those instruments that are purely speculative, prosper as they have. Another issue linked to this one is cyber insecurity. Is it a major threat to financial stability? And which kind of correction can we imagine? And say that can we exclude a major financial disruption which would be caused by climate change? What consequence to be drawn from that? And associated with that, do you share or not, or do we share or not the judgment that it is very likely that the green transition would trigger the real interest rates at a global level much higher than in the past, taking into account that it's very likely that the savings glut will progressively evaporate, taking into account the immense new amount of investment that is associated with the green transition and also the replacement of the stock of capital which is made obsolete because of the green transition. So these are issues that are important. And of course, I conclude by that because if on top of the change of the monetary policy of the major central banks, we also have real interest rates higher than it was the case in the last 10 or 12 years, it is aggravating probably seen from the financial stability standpoint the situation. So this is only to be sure that on my part, I have conveyed a number of questions which of course would be very interesting to have response to if it is possible. And I'm speaking, of course, of the speakers but also of the audience because I know that a number of you in the audience have also remarks to be made that are important for all of us.