Thank you, Mr. Chairman.
Governor, and Mr. Macklem, it's very nice to see you again. You are off very shortly to the G-20 meetings later this week. I'm sure on behalf of all of us, congratulations and good luck. We look forward to seeing you return in a larger capacity after those meetings in Europe.
In your statement today, you talked about the economic troubles in Europe, the anticipation of a brief recession, and some hope coming out of the agreement that was announced a week ago by European-area leaders. But today there is news that Greece is now said to be holding a referendum or plebiscite with respect to how it will react to EU policy. I wonder if you would comment on what that potentially means for this anticipated recession in Europe. Could Greece possibly remain in the EU if it were to vote no to the proposition? And is there any conceivable role that you could anticipate for the Financial Stability Board in trying to facilitate some solution vis-à-vis Greece?
Secondly, I'll ask my other question, and leave it for your response, on issue of the inflation targeting agreement and the possibility of changes that you are researching. When you speak about the necessity or the value of some greater flexibility, going a little bit beyond the careful language in the statement, would that include taking into account, beyond inflation, issues like employment, job creation and job preservation, depending on the economic circumstances affecting the world at any given time, and issues such as the health or not of average disposable household incomes, and the preservation of a healthy, successful middle class in the Canadian economy?
We've all seen the articles about the middle class being under great pressure in current circumstances. That pressure has both economic and democratic consequences, and I'd be interested in your perspective on that.
Thank you.