Finbarr Bermingham

They're not the highest end of chips.

So I was a bit skeptical about the IP angle.

It's very, very interesting.

It's very, very mysterious.

We're still trying to find out exactly what happened.

But the one thing that was very interesting here is how quickly they moved.

This is very unusual swiftness for a European government, which have been taking kickings all year for moving very slowly.

So we'll see what happened exactly.

But certainly it was an interesting development.

I don't know about that.

I mean, they will respond of that, I'm sure.

But China often responds asymmetrically.

And this is something that Europe has always struggled with.

We can't really do that because we're very legalistic.

Whereas the Chinese could do anything in response.

But if you're a Dutch business person working for one of the big companies, not ASML, the chip

equipment-making kit, because that's indispensable in China.

They would be foolish to hit ASML, but there are plenty of other Dutch companies with business in China.

I would be shifting nervously at this point because there is a... Yeah, Philips is one.

There's several of ASM, which is another big chip-making company.