Let me jump to the next conclusion, what does it mean to our industry? What does it mean to Deutsche Bank at the end of the day? We'll see here that on the right-hand side, the implications can be brought into various categories, some write it as pressure, unprofitability, which in turn, results in the need to address the way we use resources in order to maintain the sufficient level of profitability given the lack of growing on the revenue fund across the board.We will also have to look at the need to look at fundamental business structures, i.e., we have to answer at the end of the day how, given this environment, we can still develop a client-centric model and retain an attractive level of profitability and, by doing so, maintain at any point in time adequate capitalization and liquidity levels.
Deutsche Bank AG - Analyst/Investor Day
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