Colleagues, ladies and gentlemen, we'll begin now.
To the panellists, thank you all for being here, and taking time out of your busy schedules. I think you understand the process we're going to follow here. I had an opportunity to speak briefly with you just a few moments ago.
We're going to ask all of you to give an opening statement of five minutes or less. Some of your written comments that I see look like they might be a little longer than five minutes, so I'll be giving you all a one-minute wrap-up signal, if you care to look up during your presentations.
I will have to be firm, unfortunately, on the five minutes, so that we can allow questions from all of our committee members and still have enough time to complete our next panel. Witnesses will be coming immediately behind you. It has been our experience that even if you don't get through all of your presentations, usually the points you want to make will come through during questions and answers.
So with that brief introduction, we'll get going.
Mr. Rosendorff, for five minutes, please, the floor is yours.