want to get back to francesco costelli one thing i want to pick up on is mr.ryan's comments on maybe the lack of competitiveness when it comes to fintech companies or fintech ideas. i think you make the point that banks that will be larger will have a better edge of being competitive. is it the likes of commerzbank and deutsche bank that will win here >> i think that what the bank ceo was mentioning is that they'll see a lot of competition in a number of businesses. regulation is making banks bigger but is allowing banks to do less things he was mentioning payment systems now are more and more managed by companies which are not regulateded by the financial sector mentioning starbucks, which is a large collector of deposits in the form of early payments from customers. so certainly banks are probably today, large banks today, they have warned against competition with smaller banks in their own countries. but in the future there are forces emerging aided by technology, supported by new regulation, and a large part of the businesses will be eroded by those fen te