We don't see any change this year. Economic indicators seem to suggest there will be no change in interest rates in the short term.

It would take a big global shock to change the prospects for at least modest growth in Europe.

As always, protectionism doesn't work. The past resistance to change has resulted in the Italian banking system being still affected by fragmentation, with plenty of small-scale players.

That whole era is gone for good and not many people will regret its passing.

He certainly has political aspirations, and I don't think it will be the end of his career if the center-right loses. He will play an important role in the future of Italian politics.

There are a number of countries that are increasingly uneasy about competitive pressures coming from Asia, and the softening of domestic industry.