Let me conclude with some words about why I am confident about the future of Italy. Today, Italy is a very different country from one year ago. We made tough choices to put our public finances on a sustainable path. Italy will have a balanced budget in 2013, in structural terms, and will maintain a primary surplus of over 4% in the next years. We have given ourselves tough rules to make sure nothing can push Italy off track in the next years. We changed our constitution to introduce the rule of balanced budget and we are committed to respect the Fiscal Compact.

We have reformed the pension system, which is now the one of the most sustainable in the world. We have cut public expenditure with two rounds of spending review, saving 11 billion of savings this year. We have rebalanced the weight of tax and expenditures cuts in the fiscal adjustment programme. We have a programme for the sale of the real estate assets and the State owned companies or shareholdings. The message is that the burden of reducing the debt cannot be achieved only through taxation.

We have also considerably stepped up to the dismay of some segments of the public opinion but not the ones we care about. We have considerably stepped up against tax evasion, the black economy and corruption. We have introduced a law against corruption, which I would like to see even strengthened in the future.

We started to break down relationship between politics and administration with, for example, strict standard of transparency for appointments to public positions such as the healthcare sector.

It has been a long year of reforms which I will not even list because you certainly get the general sense of we are trying to do. When I thing along way but more has to be done. We knew this going be to difficult and that the results will not be seen after only more than a year. I am confident in the future of Italy because I see sign that the tidy is turning, the spread