 About the 2030 paper, why should we talk about 2030 today at all because it seems so far Away, we still have Fantastic package for the 2020 why to bother at all Because the things Change and we will do any climate policy or not We want to do anything at all or not. They will have to change their Power system quite a lot anyway It's If those of you who remember reading the 2050 roadmap with the cost of the of the power system will be Quite the big almost 15% of the GDP if you look at the 2050 Perspective and actually the cost of doing something and the carbonizing will not be Much higher. It's just the proportions change The other so this is we have this internally here anyway Then according to the international energy agency our dependency on fossil fuel Imports is growing and it's gonna be Now it's around 60% will be 80% by the 2035 which is so basically this is money spent outside somewhere mostly in in in US in in Russia in in oil countries Then if you want to continue the global picture we have the other countries outside the EU You know, we often think well, we are the only ones doing climate change things and I don't want investing This is not true anymore We have China US Japan Brazil Morocco for instance also investing quite a lot in in the renewable technologies and and So it's a little bit of this Industry competition here factor Of course, there is also important that next in this year in in Warsaw We'll have the cop 19 and then we'll have in 2015 Cop hosted by by by France and then this is the deadline where we should have a global deal So it would look very bad if we as the you don't know what we should do after 2020 and basically if you look at any long-term analysis You could claim well, let's don't do anything on climate. Well, you know, we have the economic crisis. Let's wait social crisis as well Until we are out of it, then we can start doing something That's all maybe Fair enough, but then the the total bill will be much much much higher and maybe some things would be So if we look at the 2020 package, I think that You know, if I would be just looking at the numbers and saying, okay, so how far we are from the 21% reduction tag and the Emission trading scheme we are, you know, we have reduced about 16% so it's fine, you know, even if the economy graph returns We should be fine. So and then if you look at the specific numbers, we are okay when you start looking at the and the individual member states performance, it's more okay ish and It's a little bit like the in the 70s, I think there was a legation of the American scientists to the Soviet scientists and they were asked the Soviet scientists So how is the situation in the in the in the Soviet Union and they said what just briefly and they said good No, no, but we didn't mean just one more. Maybe two words and they said not good It's a little bit something like this when you look at the performance on the countries On the On the renewables, there is Of course that the big discussion now in particularly Spain and Germany as well in Czech Republic a couple of other places about the renewables support schemes And and it's true in Spain. It's not sustainable from the financial perspective, right? It's it's a huge Tarek deficit and this is the problem there, but at the same time if we look at the cost of the of the renewables of the generating electricity from the renewables it has Been reduced quite substantially. I think in the case of the photovolta lex is around by half if you look from 2005 to So this investment is delivering something apart from from from jobs and from From from Marcus here Another problem, which is very obvious all of you probably following this discussion is that you know with three euro You will not I mean Parallel ones you will not see an investment Modernizing that the industry from the if you look just sub the at the ETS as such Don't ask me what is the appropriate price. I know that the free It's too low. Of course, we have the new new game changer It is called is that it's the US shell gas and then what we are safe here as In result is the cheap cheap you a scholar in in in Germany on UK you have the Power generation from gas going down in the last year and the like from coal going up But that's that's the economics And then of course still we have the financial crisis we have still a high level of debts and and The the economic prospects are not so good to to to be honest So that's something to in the in the background Just a little bit more about At the same time so so at that time we knew that in 2009 that Before that different member states have different ability to a different potential reduction potential different areas in renewables or I mean in terms of increase or in the In the greenhouse gases and so on and there were a couple of mechanics built in to Acknowledge that But also to make sure that there is a political buy-in because if you would just approach Looked at this from the just use the prime's model. Look. What's the cheapest? The the ambition the reductions per member states would be would look a little bit funny And might not be just doable at the end of the day for different reasons than the economics. So just to Quickly remember what is there now We have differentiation of the non ETS targets We have the differentiation of the renewables targets and then some possibility of trading but It's not used actually at all and then we have the on the energy Efficiency which that's is non non non non binding targets then on the ETS, which I think is the most kind of discussed we have the distribution of allowances So 88% is distributed to emissions, but the rest is Either called on the solidarity or the early action the 2% that's that's one thing then of course we have the whole very specific Moment in the directive or we say, okay, if you're exposed to international competition as a sector We will receive the allowances for free and carbon leakage For the energy intensive industries and Then there is the international credits which We acknowledge in our carbon market report is actually was supposed to make the compliance cheaper It's also creating problem the current surplus surplus. So it's not only economic crisis. It's also this it's was maybe Something to look at then we have the free allocation for the article Tennessee And then I mean kind of the other side of the equation that the new entrance reserve that can be used for the for the new projects and in the meantime will have the Financial framework which is in the making but hopefully will be finished under the Irish presidency And then something that is very much overlooked, but we have those country specific recommendations also on the climate and energy Issues there I have time running out, but just maybe a few issues on the financing For the next time so apart from the MFF I think we and the well-functioning ETS that would could be used for the financing The other thing that many people don't look at is the fossil fuel subsidies. We have quite many still in the EU and And of course we have the business opportunities out there in Brazil in China, so on this is you know It's not direct financing, but that's what can help us to I Think these are obvious questions and I'm happy to hear questions and then in discussion later on but Should we have one or more targets? I think we should have All three of them because none in singularity does not deliver on the on this common principles How do we leave enough room of flexibility or differentiation between the member states vis-a-vis the internal market? We have the business competitiveness business saying please make sure that the energy price as low as possible But then how do we drive the energy efficiency? This is the case So this is the long term that's shocked them and of course This is the whole discussion about the the who is gonna pay the bill and between the sectors between the states and I'm finishing And this maybe it's it's it's it's very obvious we plan to put something at the but by the end of the year the consultations are open and And of course the analytical work is is is is on the way