 set to fail, Mark Bailey from FIG Securities is looking into this as we speak. So, pretty interesting situation happening there. However, what do you sort of anticipate will be the likely fallout when it comes to market reaction considering the fact that the no vote was widely anticipated? Good morning, Dean. I think that's exactly right. I guess in terms of how you saw the Austrian election going, I think that was probably more in terms of a knife edge there. And again, you know, it was kind of more mainstream parties that would have been happy with that election result with the defeat of the far-right candidate. But in terms of Italy, I think it's still probably a bit of a shock as you're seeing in terms of the year on how that's positioning and going through. And then it's the knock-on impacts that you're going to see more broadly in terms of the Italian banking sector. You know, it's going to be difficult that capital injection to go through in terms of the government support for that. You know, Will Renzi resigned as well. He has talked that he will do if he loses. And then that again probably throws up a likelihood of another European election next year on top of the French, the German and the Dutch elections that are already due to be held. So again, more political uncertainty inside the European Union. And interestingly as well, we have the ECB that meets later this week as well. On Thursday, you know, I think about 90% of European economists there are expecting some kind of additional QE, whether through extension or an increase, a pace of purchases or both, or maybe in kind of broadening the net of assets that it currently purchases as well. And I think probably this election, so this referendum results if it does prove to be correct. And we have the kind of notorious difficulties of predicting this in Italy and the exit polls have been wrong several times before. So let's not get too far ahead of ourselves. But if it does actually result in a no vote, then that probably does push the ECB to act in terms of increasing those, you know, 80 billion euros a month purchases or extending that from maybe another six months or so from from March 2017. Yeah, I think it's also interesting to note that exit polls were unreliable when it came to the US election. They've also had a history of big misses in Italy. So whilst we are obviously watching the hero and the commentary coming from these exit polls, it's by far not a done deal when it comes to the ultimate outcome of this Italian referendum. But when it comes to the ECB, as you mentioned, they do meet on Thursday, whether or not it will determine to extend its QE problem, can we expect a market reaction either way, given all of those uncertainties you alluded to? Yeah, look, I think if the ECB doesn't do anything and just says we're just going to stop the QE as expected as forecast in March next year, then I think that would be a huge shock for the markets. And, you know, I think that there'd be a risk off trade, certainly within Europe and probably more broadly. I think the current expectation and consensus is certainly for some additional monetary stimulus, as we've talked about for the ECB on Thursday. And if that's not forthcoming, I think that would be a bigger shock to the market than the Italian referendum result. But, you know, so I think that they will look to at the very least add another six months to the program, taking it to September next year. And then obviously, when you get to that timeframe again, you know, the ECB will look at see whether the markets can support. So I think one of the interesting factors, again, more broadly for the global economy in terms of the non-farm payroll figure, was actually the wage growth, which was actually negative at minus 0.1 per cent, took the year over year, changed to 2.5 down from 2.8. And that's a key stat that I look at. And also a lot of the central banks look at in terms of, you know, whether there's going to be inflation coming through the system. And I think that would have given, you know, obviously, I think the Fed hike is baked in because the other parts of the equation there on the non-farm payrolls were such that it's very likely that it will move in December. And I think in terms of that flight path in terms of the blue dots, I think will be a lot more gradual than people expect. And probably in actual outcome will be similar situation to last year, where we were expecting four and actually they're probably actually only going to do one. But in terms of that impact for more broadly and global central banks as well, I think it does just allow them that leeway because there's no inflation coming through in the system. Yeah. So then the U.S. Fed has consistently said they would take the chance of running that economy a little bit too hot to get that inflation story going. Okay. Mark, we'll have to leave it there. Thank you so much. Appreciate it. Thanks, Dean. Mark Bailey there joining us from FIG Securities. We have to take a short break here on Sky...