 Thank you very much, Benoit, both for catching up and obviously for this excellent panel. And now we're moving straight on to this year's Young Economist Competition. The Selection Committee chose nine finalists for more than 70 papers submitted for the competition. And so I welcome on stage Jorge Abad, Marcos Biermann, Francisco Alberto Castellanos Sosa, Katrin de Greif, Janine Hart, Josla Mayard, Kieran Rogers, Hissou Rowe, Leslie Schengchen. As always, the standard of the research displayed was very high and the Selection Committee had a difficult task on their hands to pick a winner. I would like to thank members of the Selection Committee for their engagement, the Chairperson Philipp Hartmann, two academic members, John Mulbauer from Oxford University and Ricardo Rice from London School of Economics, as well as the two ECB members, Ines Cabral and Glenn Shepens. Posts were rated for both their academic quality and the policy relevance, and now without further ado, let me announce the winner of this year's Economist Competition, Leslie Schengchen. Congratulations. The paper, your paper formalizes and tests the idea that global and local banks have different information advantages. The fact that some banks specializing global information while others focus on local information constitutes a key mechanism driving firm-bank relationship. The Selection Committee believes that your papers of the highest scientific merit and that its results have better understand the relative roles and implication of small, local and large global banks in the European Banking Union. And now let me invite President Draghi, who will present the trophy, who will present you with the trophy at the Young Economist Competition. I was forgetting to say that it's finished. It's over. So let me once again, it's been a success and I wish to thank all of you, the speakers of course, panelists, the discussants, but also the ECB team, which as usual did a splendid job and the team of the Bank of Portugal for this. What I was saying at dinner at the very beginning of this conference is that over the six years, this has been each year better. And again, a warm thank to all of you. Next year will be here, of course, and will be on June 28th to July 1st. So just end this date for you. And have a safe trip. Bye. Thank you. Thank you.