I'll repeat what I said to Mr. Flaherty last week. I talked a lot about the heavy levels of public indebtedness in a lot of countries in Europe and the fact that Japan just went through a credit downgrade. There are a lot of aging, mature industrial countries that are severely over-indebted. I think Professor Lee referred to that in his comments. That's going to be a chronic risk. Right now, it looks fairly calm, but at any point, bond markets could lose confidence in those governments. I think at some point Greece will not be able to service its debts on time, and there will have to be a restructuring, or even a formal default.
We're in a world full of risk. We can see what's happening in the Middle East—this will destabilize petroleum markets, currency markets. So we have to plan within that unstable context.