Aaron Kirchfeld

And that kind of traces the share price development of Rheinmetall.

And it just reflects the somewhat negative sentiment among investors that maybe the stock runs had gotten out of control.

That said, this is still a pivotal moment for European capital markets if it goes ahead.

And I think it also is important because it's a time when there's a lot of demand for European countries, France and Germany in particular, to work together to bolster their defenses with the war in Ukraine and the rest of the geopolitical developments.

Thank you for having me.