The Disruption of the European Central Bank

We do think that the centric survey will decline in April. We recently had very strong IP data from Germany and strong PMI data as well. So both of those factors suggest that actually the growth situation could be looking rosier than we previously have expected. But there's the other side of things, which is the labour markets. And the labour markets are pretty strong in Europe. Hence, why we're also getting these strikes. How long could this disruption go on for? And do you think the disruption from all these strikes could impact ECB policymaking via data surprises later this year?