 So I am happy to see that you look well. All of you, I have checked. So now we are going to have, I think, very important and interesting discussion with Olivier Blanchard. I think that you all know Olivier Blanchard. He's a star. Well, I would say he's not the only star in this room. Don't worry, don't worry. But he is undoubtedly one of the best international economists. And he was the chief economist of the IMF. He has a very prestigious academic career. And he has been, he still is the president of the American Economic Association until the end of this year. So I have asked Olivier to discuss the world economy, but from a short-term viewpoint, because we have this morning with this long economic panel, we had, we took a longer-term perspective or middle-term perspective. So after the middle term, we are going to talk about the short term according to the principle that without the short term, there is no middle term and even less long term. So this is the subject. So Olivier will take the floor now. We will have Q&As as long as I observe that you are not hungry, that is, if I see that you don't need to eat, we will continue the discussion. If not, we will adjust. So Olivier, the floor is yours.