 It is kind of easy to actually do the trade. It's just figuring out everything else before it. The governing council decided to launch the asset purchase program, the APP, because it was facing a situation in which there was continued downside pressure on prices that were jeopardizing the achievement of the ECB's price stability objective. And at the same time the room to cut the policy rate further down was very limited. We expect that the APP, in conjunction with the other policy measures, will boost GDP by around one and a half percent over three a period and inflation by half a percentage point in 2016 and 2017. The expanded asset purchase program consists of three programs currently, the ABS purchase program, the government purchase program and a more sizeable public sector purchase program. And we will soon add a corporate sector purchase program. The corporate sector purchase program needs to work on two different types of issues. The first one is related to the definition of the policy parameters, for instance, which bonds to buy, from which entities, at which maturity, is their minimum issue and size, which will be the minimum credit quality level. And the other part is about the implementation, so how to buy in the primary, secondary, who should buy according to which procedures. The public sector purchase program accounts for about 85 percent of the euro system purchases and has been conducted since March 2015. Our day starts naturally with selecting the bonds that we will buy on that day. Then we communicate this to the national central banks that also operate in the market. Thereafter we buy the bonds either electronically or via telephone. The implementation of the asset-backed securities purchase program is quite different and more complex than the other asset purchase programs. Given that the euro system had insufficient experience in the trading and investment of these ABSes, we used from the start four external asset managers and more recently two external asset managers and two internal asset managers. Still the euro system has always retained the full control of the program and it decides on the maximum price and the volume of each of the purchases. We have flexibility between the programs so for example if there's a lot of covered bond issuance we can buy more covered bonds that month and less public sector bonds and vice versa. By increasing the prices of these assets, we give banks incentives to grant more loans of this type and thereby provide more credit to the economy and that will also ease the borrowing conditions of ultimate borrowers. I think our work here in strategy but also in the directorate of monetary policy has changed quite significantly since we have these non-standard measures mainly because developing the non-standard measures seeing how they work and also the implementation requires a much closer cooperation with many business areas with DGM, with DGL, with risk management, with communication and in that sense I think it strengthens the team effort it makes it more interesting to work on these things gets the teams closer together and I think that's very challenging it's dynamic and in this way we are working very differently today I think that we were working probably at times when there were no non-standard measures.