Obviously, we do have a strong interest in TTIP and how that's developing. I've talked to the EU TTIP negotiator on a number of occasions about how things are going. We've certainly been looking at information coming from various other sources.
There are large gaps between the EU and the U.S. on that negotiation, and there have been for a very long time. There have been issues of ambition, with differences on that front, and differences over particular areas. The EU is looking for much more in government procurement. There are issues such as geographical indications. The U.S. is adamantly opposed to some of those. Also, the problems on regulatory standards have been difficult, so they haven't progressed all that far, I would say. There are still some fundamental differences of view. Now, with the incoming new U.S. administration, I think those problems will be even more difficult to get around.
I think the best-case scenario is probably that the TTIP negotiation will be parked for the time being, and it is unlikely to progress a lot more, at least for the near future.