The danger, though - and there have been signs of this recently - is that Europe begins to demonstrate a return to more nationalist sentiment. To my mind, that would be a great mistake.

Hard work certainly goes a long way. These days a lot of people work hard, so you have to make sure you work even harder and really dedicate yourself to what you are doing and setting out to achieve.

The torch relay is an excellent embodiment of all that the Olympic Games have come to symbolise - a celebration of the human spirit. Personally to me, it represents striving to be the best in whatever we do, never giving up despite the odds, and a commitment to health and fitness.

We have no intention of shutting down plants. We have always said there will be no redundancies or lay-offs as a result of this merger.

I am very confident that we will be able to convince all the stakeholders - the shareholders, the governments and the employees, that this is in their best interests.

In the past twenty years, we have lived through several cycles and we have always managed to buy under good terms and conditions at the right time. This has enabled us to build a solid group that is now the world number one.

A strong player, which has the sufficient critical mass, can withhold pressure better and create a more stable environment that benefits shareholders as well as employees.