Okay.

Hi, excellent.

So, welcome everybody at the free market roadshow in Brussels.

I think this must be the 18 edition or something of the free market roadshow, the 19 edition,

which is a series of conferences in, I think, about 40 cities in Europe and

North America, where, yeah, we have conferences bring together people supporting free market

economics. So very valuable in, you know, in this era. Today,

President Trump declared April the 2nd to be Liberation Day by imposing tariffs. I don't

exactly see the logic. Obviously, look, I'm an optimist.

I think in the end, reality will prevail,

and there will be a little pressure to at least moderate some of this,

but I think we have to admit that at least the markets were wrong,

that they underestimated this a little bit.

Now, that said, I'm delighted to have a great first

panel here on a topical issue on whether EU regulation is out of control. So we have the second

von der Leyen Commission here in Brussels. And at least there seems to be a movement to moderate some of the excesses of the previous mandate.

Yesterday the European Parliament agreed to postpone some number of regulations, the CS triple D due diligence regulations for businesses that are very damaging. You know, also the deforestation regulation has been postponed by a year.

So these are very small successes, nothing more, but at least we can see the trend changing.

So at the first panel, we have three speakers. The first one is Dr.

Barbara Colm, who's a member of the Austrian Parliament, a solid freedom fighter

for years, the director of the Austrian Economic Center, the former Vice

President of the Austrian Central Bank.

...