 The five issues of interest to the elections. One is that it will be very difficult to tell what kind of coalition there will be, it won't be the coalition that we think it is on Sunday night. Secondly, the SPD and the CDU are very far away from each other in the opinion polls and therefore there will be a lot of enmity if we do have a grand coalition. The CDU will not want to give ground to the SPD. The third thing is that the Hessian election taking place on the same day will be incredibly important to show the distribution of seats in the upper house, the state run Bundesrat, and that could have a big impact on what happens in Berlin as a whole. The fourth thing is that the Liberals will become incredibly aggressive if they do manage to get back into power. Nobody thinks that they will do, and also if the CDU, Mrs Merkel does go into opposition, if there is a left-wing coalition, the CDU will be very, very awkward to deal with in opposition. And the fifth thing is that I think Steinbuck, who's the leader, the chancellor candidate of the SPD, it's a great shame that almost certainly he will not be the chancellor in almost any constellation, he will go into retirement. I think it's a big loss for German politics. Mrs Merkel up to now has managed to survive, and she is a survivor, by obfuscating the key issues and enveloping her policies and her people with a layer of comfort that all will be well on the night. She is, if you like, like a mother who puts the children to bed and says, sleep tight, I'll be with you in the morning. She actually says, vote for me because you know me. I think it's going to get more difficult afterwards. I foresee that the last couple of years have been something of a golden age for Mrs Merkel economically. It's going to be much tougher. The European issues have not gone away. In many ways they've got more difficult. Big showdown between France and Germany, I think, the Greeks will need a substantial bail-out, and she won't be able to obfuscate. So when they say more of the same, no experiments, I expect that they won't be the same. It'll be tougher, it'll be sharper, and also she'll be weaker than she has been up to now. Ireland will have to stand on its own two feet, as it has been doing increasingly. It will have to try to wean itself away from European or official assistance. It will have to balance its books, as it is increasingly doing. I'm a bit worried about the Irish banks. If you don't have a thorough going recovery here, if house prices don't start to recover, there'll be more foreclosures. We haven't seen all the bad news for the Irish banks, and that will have an impact on the state as well. I don't think you can rely on Europe too much. I think Ireland has got to carry on in its very courageous and steadfast way of getting its own way out of trouble, not relying on the Europeans too much, because frankly, the Europeans will have a lot of other things to do, and Ireland can stay out of the headlines and carry on doing your own homework in a way that meets the needs of the private financial markets. You need to get back to the private financial markets as quickly as possible and not rely too much on Brussels.