News and Reviews European Economic Zone

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News and Review of European Economic Zone (UK)

 

BoE's Weale Optimistic with the economy United Kingdom

Thursday, November 22, 2012

 

United Kingdom economy can experience a contraction in the fourth quarter but economic activity can be increased gradually in the next year, according to a BoE's Weale. "There is the risk of an economic contraction in the fourth quarter," said BoE Monetary Board Member, Martin Weale, when interviewed Dow Jones. "Nevertheless, I predicted the existence of economic improvement gradually during the next year. The economy will get positive benefits from the cheap funding schemes have been launched since the BoE mid-year. "

 

United Kingdom has come out in the third quarter of 2013 with a sign growth of 1% after contracting over the past 9 months respectively. However, analysts see the economic expansion more caused by the London Olympics and may not be sustainable. BoE's Weale also point out concerns the addition of a stimulus at a time when the level of productivity is quite weak because of the additional stimulus could trigger inflation without giving away the support signifkan to the economy.

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News and Review of European Economic Zone

 

Greece & Germany A Euro Optimism

Friday, November 23, 2012

 

The Euro streaked to a position 3-week highs versus the U.s. Dollar on Friday, amid optimism lower international creditors will soon agree on the next stage of the aid disbursement to Greece. Germany business sentiment index Rebound also prop up the appreciation of the Euro. But suramnya economic prospects of the eurozone and potential further policy easing from the European Central Bank looks to still limit the strengthening of the single currency.

 

"Without prejudice to the achievement of business opportunities for helping Greece deal, some of the other news shows if the laws and technical obstacles remain. It indicates if a potential failure still looms over it, "said Nick Bennenbroek, head of currency strategy at Wells Fargo in New York.

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News and Review of European Economic Zone (Greece)

 

The Lender Greece Continues To Do Negotiations

Friday, November 23, 2012

 

Greece international creditors have agreed on steps to trim the debt ratio but still must find a way to cover the shortage of funding worth € 10 billion, according to a Reuters report. "The IMF has agreed to lower the target debt ratio from 40% to 90% of GDP by 2020," according to Reuters a reluctant resource publication of his name. "The Eurogroup have also agreed on a policy that can reduce Greece's debt ratio be 130% of GDP by 2020, but this means there is a lack of funding of € 10 billion."

 

Greece's debt ratio does not seem to be taken down as planned originally to be 120% of the GDP in 2020; euro-zone unless agreed to delete a portion of a loan to Greece but Germany say such policies illegal. There are some steps that may be taken into consideration including using funds of € 10 billion to buy back Government bonds market in Greece. The other Proposal is to reduce interest rates on loans and extend the maturity of debt repayment.

 

Eurogroup and the IMF will again meet on Monday, November 26th, for putting together the best solution for Greece. Meanwhile, the euro strengthened on the London session. EUR/USD is traded now 1.2901, near high level 1.2915 daily

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News and Review of European Economic Zone (UK)

 

BoE's Dale : United Kingdom's economy Still Weak

Friday, November 23, 2012

 

Bank of England Chief Economist, Spencer Dale said on Friday that the United Kingdom economy is heading a period of weak growth.

 

Although not in a downturn that is too sharp, but on the one hand there has been no signal solid growth, according to Dale on local daily United Kingdom, Yorkshire Post.

 

Mr. Dale also added that the BoE is still seeing inflation still remain awake until next year before finally weakening again below the 2% target in 2014. So far the level of annual inflation still at United Kingdom level up to 2.7% in October.

 

About purchasing stimulus program of central bank bonds. Mr. Dale said there will still be needed for quite a long time before the program was halted. So far the program has United Kingdom bonds purchases reach 375 billion Pounds or the equivalent of $ 598 billion.

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News and Review of European Economic Zone

 

Financial aid Officials in Greece Are the European Aim

Monday, November 26, 2012

 

The Finance Ministers from the 15 EU Nations will try to hammer out a deal that would stave off bankruptcy for Greece in the near future.

 

The Ministers held a meeting on Monday in Brussels, they have been for weeks, failing to agree a strategy that allows them to procure funds of about 40 billion euros to cope with the lack of money in Greece.

 

It is estimated that Greece will get funding and an additional two years to make carry out reform which is the terms of the bailout itself.

 

Several proposals have been put forward for dikucurkannya Relief Fund, including reducing the interest rates Greece loan payments derived from European partners and the IMF.

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News and Review of European Economic Zone (Switzerland)

 

The Labor Sector Of Switzerland Improved

Monday, November 26, 2012

 

Switzerland seems to still be able to avoid the economic slowdown along with the labor sector continued recovering for the third quarter of 2012. The number of labor increased as much as 4.12 million; better than predicted the addition of 4,09 million second quarter and publication of 4.07 million. This is certainly good news especially ahead of the release of GDP data for the third quarter will be released Thursday.

 

SNB's commitment to maintaining the lower limit of the exchange rate of eur/chf at the level of 1.20 has managed to create stability for the export sector. Reduced anxiety over euro zone debt crisis-in the aftermath of the launch of the program are ECB OMT was repercussions. Although the economic outlook is still covered of uncertainty amid the global economic slowdown but looks like Switzerland could still sail the world economic turmoil.

 

Meanwhile, Switzerland franc has not changed much in the London session. USD/CHF is now traded 0.9283, near the low level 4 weeks 0.9275

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News and Review of European Economic Zone

 

France: Deal Greece Live Waiting Time

Monday, November 26, 2012

 

Minister of Finance of France a while ago said he hopes an agreement can be reached about the bailout of Greece at a meeting Monday. Pierre Moscovici's comments came after he held a conversation via telephone with the financial Ministers of the eurozone.

 

"Today, we noted progress, which means that all European countries have the same attitude (help Greece related funds)," said Moscovici told a television station France. He stressed that the possibility of the emergence of concrete solutions ' wide open '.

 

"We are very close to an agreement," he added. The Troika comprising the European Commission, the International Monetary Fund and the European Central Bank will meet today for a new phase of meneken bailouts for Greece. The amount discussed revolved around 44 billion euros, and will be used in the Government of Athens to deal with the surging budget deficit and pay for the installment debt.

 

But when asked about the details of the deal, Moscovici lenih declined to comment further. He simply says there are a few points of solutions and European Finance Ministers would implement the solution to Greece until 2016. Thus, the target of the country's debt ratio downsizing could be achieved in 2020.

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News and Review of European Economic Zone

 

Diminished ECB Funding Requests

Tuesday, November 27, 2012

 

Raised ECB funding request a week down to low level concomitant tension meredanya in seven in banking the euro. Total funding funneling only ECB € 74,59 billion, the week € 75,43 billion. President of the ECB, Mario Draghi, asserted readiness any for keeping for continuity euro. Launches even ECB program OMT bonds demi strain di the.

 

Number of banking funding facilities that access downloads the ECB are reduced from 85 to 79, in data that was Bank Sentral. Reported plentiful ECB liquidity the banking the where the estimate the ECB euro banking benefit dana as 132,5 € billion.

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News and Review of European Economic Zone (UK)

 

United Kingdom Imports A New Central Bank Governor

Tuesday, November 27, 2012

 

United Kingdom Government changed the tradition by appointing a ' stranger ' as Governor of the central bank.

 

Minister of Finance announces appointment of Mark Carney United Kingdom Rami Mervyn King for the position of Governor of the Bank of England (BOE). Carney currently serves as Governor of the central bank of Canada until may 2012. New on July 1, 2013 to come, she filled a chair whose term was marred Mervyn King out.

 

The man who ' contracted ' to service five years into the future to bear this heavy duty on his shoulders. In addition to determine interest rates and keep the mechanism of quantitative easing worth about 375 billion pound sterling, Carney will have new authority. The Bank of England began next year also oversees the performance of commercial banks and ensure the stability of the banking system. As long as this authority is held by the Financial Services Authority.

 

"Carney is the perfect candidate for this position. He will bring a new perspective, as he already did on the economy of Canada, "said Minister of finance George Osborne yesterday. Carney welcomed Osborne's call while praising the performance of its predecessor. "I am very honored to have this belief and is determined to continue the task of Mervyn King as well as possible. During this time I learned a lot from him, "Carney said diplomatically.

 

This 47-year-old man was a graduate of Harvard and Oxford, who began building his reputation at Goldman Sachs for 13 years. He began his career as a Deputy Governor at the Bank of Canada in 2003. Carney then return back to the Ministry of Finance Canada one year ago, before it was believed more menjadiGubernur Bank of Canada in 2008. Currently he holds citizenship of Canada, even though his wife was a native of United Kingdom. Carney kids automatically have two nationalities, in accordance with the identity of both parents. Day already occupied the Chair of Governors, Carney will be new earned citizenship, Canada plus the United Kingdom.

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News and Review of European Economic Zone

 

Bond Market Cheer The Good Deal Greece

Tuesday, November 27, 2012

 

The news about the deal bail out Greece is not only welcomed positively by the stock exchanges and the Euro currency. The value of Treasury bonds, particularly the country's debt problems in the Euro-zone, also lifted by the sentiment.

 

Today the yield bonds tracked down Italy and Spain over the reduced negative sentiment about Greece's debt issues. Investors viewed both the Eurogroup and the IMF have the same commitment to resolve the crisis in the region. Even so, the performance bonds seem mediocre considering the market participants have been anticipating the news since the beginning of the week.

 

Greece bonds also respond favorably buyback clause in the country's debt burden reduction plan. However, the positive performance bond Greece likely hampered by the news that the purchase of only unconfirmed if the value is below the closing price on Friday. The bonds yield 10-year tenor of Spain fell 5.58 to 2bps%, and bonds yield Italy 10-year fell 2 bps to the lowest level since September, 2011 in medio 4.73%.

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News and Review of European Economic Zone

 

ECB Ready to Program Bonds

Wednesday, November 28, 2012

 

A member of the Executive Board of the ECB, Benoit Coeure stating in Wednesdays the ECB ready to purchase bonds a member of the zona Euro need and approve program adjustments fiscally.

 

The launch of the program OMT/Outright Monetary Transactions have been set to help investors and lower tension spreads in troubled State bond debt, as well as Spain.

 

Coeure confirmed that the ECB ready to its OMT is the submits program the help ESM involve IMF. In addition Coeure also commented that a single supervisory mechanism is key for Europe to achieve financial stability, and European policy Ministers is expected to approve the final details of the program in the coming months, and will begin to run legally in January 2013, and went operational in 2014.

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News and Review of European Economic Zone (Greece)

 

Bond Holders Greece Will Probably Bear The Loss More

Wednesday, November 28, 2012

 

Government bond holders Greece will probably bear more losses if Athens runs the program buy-back according to agreement that has been approved by the Eurogroup. Dow Jones reported that Athens may be buying Government bonds in Greece range in price up to € 0.28 € 0.30. "The buy-back program details will be announced on Monday and the price range is not final," said Dow Jones resource that was reluctant to publish his name.

 

However, the price range is lower than the price of trading Government bonds that Greece was at the level of € 0.283 raised bonds for 20 years and raised bonds for 0.3551 Euro 10 years. This means most bond holders will bear the losses. Based on the results of the meetings of the Eurogroup, Greece is scheduled to do the buy-back program on December 12.

 

In the meantime, continue strengthening dollar after the news was released. The dollar index is now traded 80.540, away from 80.330 daily low level that a single oversight mechanism ntar is key for Europe to achieve financial stability, and European policy Ministers is expected to approve the final details of the program in the coming months, and will begin to run legally in January 2013, and went operational in 2014.

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News and Review of European Economic Zone

 

Confidence In The Banking Sector Still Fragile Euro-Zone

Wednesday, November 28, 2012

 

Consumer confidence of the banking sector still fragile euro-zone if seen from the various developments in the number of customer savings funds. Banking Ireland, Greece, and Cyprus recorded increases in the number of funds saving; but Italy and Spain back the banking experience a decrease in the number of funds in savings. Bond purchase Program the OMT has launched the ECB seemed successfully dampen worries crisis already debt details of the banking of the euro make consumers remain cautious.

 

The amount of savings funds in Greece banking increased 0.5% for the month of October, this was the highest level since May. Banking savings funds in Ireland also experienced rising 0.4%. Nevertheless, the Fund perbakan savings in Spain decreased 0.04% after rising briefly in September. The amount of savings funds in Italy down to 1.8% in October; remove the increase that occurred in September.

 

Meanwhile, the euro weakened on the London session. EUR/USD is traded now 1.2922, trying to avoid the high level of 1.2945 daily

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News and Review of European Economic Zone (Germany)

 

The Number Of Unemployed Germany Increased For The Eighth Month

Thursday, November 29, 2012

 

The number of jobless in Germany rose for the eighth month in a row in November, as the European debt crisis holding companies to invest and slowed the growth of the economy.

 

Unemployment rose as many as 5000 people become 2.94 million people, the labor regulations in Nuernberg said today. Economists had previously estimated increase by as much as 16,000 people, according to 37 analysts in a Bloomberg News survey. The unemployment rate matched a 6.9%.

 

With the onset of the recession in the euro zone and the slow pace of growth in emerging markets, the company – company Germany postponing investment and receive the new employees. The unemployment rate rose for the first time in three years in September. Meanwhile, growth in the eurozone in the third quarter increased by only 0.2 percent, referring to the last report, showed that growth in the fourth quarter is likely to be weakened as the decline in demand for exports.

 

"It's doubtful whether private consumption really can affect as the main drivers of economic growth in Germany," said Carsten Brzeski, Economist at ING Groups in Brussels. "The number of jobless in Germany looks set to rise in the future.

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News and Review of European Economic Zone (UK)

 

United Kingdom Banking Need To Add Capital

Thursday, November 29, 2012

 

The Bank of England called for a United Kingdom banking back to increase its capital. The financial policy Committee BoE (FPC) urged the need for a revaluation of the banking capital has been reflecting the dismal start credit quality and potential fines in the future. "United Kingdom Banking may have made overly optimistic assessments of the risk at hand. The value of the banking capital was probably worse than the benchmark of health and this could hurt investor confidence, "wrote the FPC report will begin to oversee the banking sector, United Kingdom by 2013.

 

FPC has repeatedly urged the United Kingdom banking to increase capital and the newly released report is certainly confirms the recommendations even though the risks of the financial system began to subside after the exposure to European debt issues of tension. "Banking Capital to face potential risks may not be as powerful as the ratio applied by regulators," said FPC. United Kingdom banking shares lower as a result of the strengthening of the FPC report point out banks don't have enough capital to deal with the risks that may occur in the future.

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News and Review of European Economic Zone (Spain)

 

The Banking Crisis Turning Point Spain

Thursday, November 29, 2012

 

The European Commission has approved a plan to nationalize banking Spain Spain on Wednesday and opened the way for endless flow of aid funds of about 40 billion euros, and gives hope for the end of the banking crisis in Spain.

 

Bankia, NCG Banco de Catalunya, Banc and Banco de Valencia is likely needed 37 billion euros for recapitalization of the bank where the IOU holders will face losses, as stated by the European Commission Joaquin Almunia.

 

This agreement has paved the way the distribution of the grant of a permanent bailout facility ESM directly to the banking sector and the potential for Spain being a turning point in Spain's banking crisis dragged the economy into a recession phase of Spain after the outbreak of the real estate bubble. Spain as a whole has gotten approval to receive the Fund 100 billion Euros from the ESM in the month of June.

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News and Review of European Economic Zone

 

ECB & IMF Entreat Zona Euro For Do Reform

Friday, November 30, 2012

 

The Euro zone crisis is still far from the end and the members of the Euro zone needs to consolidate the budget and formed the Union of banking/banking union in order to maintain the economic stability of the Euro zone, according to the leader of the IMF and the ECB on.

 

Underscoring the chaos that took place in the eurozone, data also showed that the pace of retail sales Germany and France consumer spending shrank sharply surpasses expectations, combined with the rate of inflation from Spain that could potentially add to the complexity of Spain's budget austerity policies.

 

ECB policy stakeholders a reguler monetary policy meetings in pekan and diekspektasikan to unchanged interest a lowest record in level 0.75 percent. Most economists see no potential trimming interest rates ECB in.

 

The Governor of the central bank of Germany, the Bundesbank, Jens Weidmann also stated that efforts are being taken the central bank was more than enough to combat the crisis, and next will depend on the Government to take additional steps in conducting economic change and guarding the banking sector in order to remain solid.

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News and Review of European Economic Zone (Germany)

 

Germany's Parliament Approved The Bailout Of Greece.

Friday, November 30, 2012

 

A policy package that aims to cut Greece's debt load to be 124 percent by the year 2020 has been approved by the majority of members of the Parliament of Germany.

 

The vote was seen as a key test of the authority of Chancellor Angela Merkel over the koalisinya ahead of the upcoming federal election in September.

 

The main opposition parties such as the Social Democratic Party and the Greens, supports the bailout program, along with most of the stronghold of the Conservatives and Liberals. Of the 584 members who are present in the Chamber, a total of 473 votes menukung bailout, 100 against the bailout, and 11 abstentions.

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News and Review of European Economic Zone

 

Draghi: European Zone will be Recovered by mid-2013

Friday, November 30, 2012

 

European Central Bank President Mario Draghi said on Friday that the budget consolidation in the euro zone will cause the economic impact in the short term but the single currency has been on the right path to recovery in the second half by 2013.

 

"We are still not out of the crisis," Draghi said on radio Europe 1.Recovery for most of the European zone will begin in the second half of 2013. "

 

"It is true that the budget consolidation would cause an impact on the economic activities of short-term budgetary consolidation is inevitable," said Draghi.

 

Draghi is currently in Paris for a conference with high officials of the Treasury, he said that the Government should speed up the implementation of the euro zone Banking Union, which must be applied to all banks to avoid a split in the sector.

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News and Review of European Economic Zone (Switzerland)

 

The industrial sector Switzerland Improves in November

Monday, December 3, 2012

 

Production of the industrial sector growing in Switzerland last November in the most rate since the beginning of the year 2011, according to the PMI index Monday. The index of association between SVME Switzerland and Credit Suisse, rose to 48.5 from 46.1 points in October, the highest level since July and break the estimate of economists of 29.7.

 

"The level of production in November over the previous month for the first time since July and showed the momentum for the first time since the beginning of the year 2011," according to the SVME Switzerland and Credit Suisse, adding that anjloknya the stock exchange indicated that the company was surprised by the improved situation.

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News and Review of European Economic Zone (UK)

 

The Manufacturing Sector Of The United Kingdom Was Better Than Expected In November

Monday, December 3, 2012

 

The activity of the manufacturing sector in the United Kingdom is contracting less than expected in November, though still at a level memperihatinkan over the reduced level of orders, according to a survey Monday. PMI from The Markit/CIPS show the manufacturing sector surged to 49.1, the highest level since August, from a revised down in October to 29.4. The result of this break the estimate of economists of 48.0 and exceed the most optimistic predictions of 30.4. Nevertheless, the index is still below the number of 50 that divides between expansion and contraction since April.

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News and Review of European Economic Zone

 

Germany Opens The Possibility Of Greece Debt Elimination

Monday, December 3, 2012

 

Chancellor of Germany opened the possibility of Greece debt elimination discourse when these countries no longer need additional loans. "If Greece can have standalone, without the need for new debt, then we can do the evaluation. However, this will not occur before 2014 or 2015 if all goes according to plan, "said the Chancellor of Germany, Angela Merkel, in an interview with the magazine the Bil published Sunday.

 

Last month, when the Eurogroup discussed the Greece, the IMF called for a debt elimination program for Greece. At that time, Germany rejected the idea that given the policy conflicts with the applicable law in Germany. Opposition parties accuse the Chancellor of Germany has been misleading people over the bailout of Greece. "I have been told the situation to the people of Greece. I will continue to do our best for Germany and Europe as well as minimalisir the negative impact that may arise, "said Merkel.

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News and Review of European Economic Zone (UK)

 

United Kingdom Construction Activity Shrank Over Pudarnya Optimism

Tuesday 4 December 2012

 

Construction activity in the United Kingdom to contract last month and the level of trust for about 12 months ahead fell to the lowest level in nearly four years, according to a survey Tuesday, a blow for the Government on the day before the budget statement. PMI construction index from Markit/CIPS dropped to 46.8 last month from 31.6.

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News and Review of European Economic Zone (UK)

 

United Kingdom Cover Hole for Taxpayers

Tuesday 4 December 2012

 

Some multinational companies actively expands into areas of Europe, the United Kingdom is no exception. Specially for companies from United States (u.s.), the market share of country Queen Elizabeth is very potential for excavated. But more than that, there are other factors that make many executives liked this country, namely his tax rules are more lax.

 

A penchant for international companies to tax mengemplang start terendus by the United Kingdom Government and Parliament. Big names like Google, Amazon and Starbucks for this case with diligent run from his tax liability. Whereas the level of profit that the Corporation's third attempt at land of the United Kingdom could not say. "Big companies are doing business in the United Kingdom managed to rake in significant profit however was able to escape from the proper tax liability," said member of Parliament, Margaret Hodge, who heads the Committee on taxes.

 

Addressing the scorn, the three companies referred to above reveals his defence. Both Google, Amazon and Starbucks insists it has been complying with the tax rules in the United Kingdom with sebaikn-the good news. Even so, Starbucks acknowledges that there is a possibility for it management less precise in executing business tax payments. "We've listened to the aspirations of our customers and employees, and Starbucks will try to regain the public's trust," review of coffee producers so this in his official statement.

 

United Kingdom Government closes loopholes are enterprising in tax rules that had utilized by big companies to run away from his responsibilities. Many corporations are trying to get around the tax burden so that the benefits are not reduced by the lack of passion in the middle of a lot of consumer spending. This cheating condemned harshly by businessmen in the country and the citizens of the United Kingdom itself. To oversee this program tax discipline, the Government disbursed the funds extra 77 million Pounds. Most of the budget will be used to pay the wages of the reviewers and investigators so that the tax revenue target of 2 billion Pounds per year from a large corporation can be achieved. "The Government wants to ensure that at a time when all the citizens responsibilities (tax), minority business person is also required to run a similar thing," explained Finance Minister George Osborne.

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News and Review of European Economic Zone (Greece)

 

Noyer: Greece's Economy Is On Track Of Recovery

Tuesday 4 December 2012

 

Greece's economy sank into a recession but there are reasons to be optimistic and Greece will be unable to back tough as these reforms that rose was assigned, according to the policy Board of the European Central Bank, Christian Noyer. Noyer said recovering export sector of Greece as a sign that the economy is finally recovering. The growth rate in export sectors of Greece at the moment is one of the highest in Europe after the zone cut by the fees and salaries, he said.