Thank you, Mr. Chair.
Hello to all the panellists. Thank you for being here today.
Mr. Page, welcome back. It's very nice to see you again. I'd like to start with you. You had very interesting comments.
One of the things you mentioned was austerity and the impact of austerity measures on economic growth and on our sustainability. Can you describe for us the impact of the government's austerity measures? The government, of course, wants to make sure its finances are in order, but is there a downside, or can you describe the downside to austerity measures?