We do also have riskes in Australia, in certain sectors, like...

We do also have riskes in Australia, in certain sectors, like oil and coal, there are political risks, there is also the risk of not getting approvals to mine in every sector.

However the biggest risk in Australia is the high opex and capex making many projects unprofitable, especially in the resource sector, where you are controlled by the commodity price, yeah everyone likes a wage rise, however commodity price is supply and demand driven, not enough demand, commodity price goes down low, companies can no longer afford to pay their workers those wage increases, they get laid off and the mines go into care and maintenance.

The risk of that is bigger in Australia than the majority of other countries.