Good morning and a warm welcome to everyone. We are here today to share our economic assessment for the euro area. Before I start however, let me share a few thoughts on the EU Parliament’s adoption of the Artificial Intelligence Act. It is very encouraging to see the EU putting the groundbreaking technology of Artificial Intelligence at the forefront of its policy agenda. AI has enormous promise and potential, but we must make sure that it works for all, and that the use of AI is safe. In that sense, we welcome the approval of the AI Act by the European Parliament.