The carbon market in Europe certainly has crashed before, so it wouldn't be the first time.
The centrepiece of what you said is that real action must be taken. The centrepiece of what you said is that aspirational goals don't cut it, and I agree. I think we need to have mandatory, absolute reductions, and aspirational doesn't cut it. But we will not have succeeded in a next round unless we get the major emitters on board. We must get the big countries on board. We're prepared to accept an absolute reduction commitment for Canada. I think that's important, but we can't do it alone.