The concerns that are expressed today have more to do with certain political mechanisms, specifically the common agricultural policies of the EU. This is particularly true for field seed companies whose bottom lines are affected not only on market conditions and business relationships but also by political decisions taken way at the top. While it is true that we can do our best to prevent our politicians from making decision that go against our interests, we are never safe from political decisions that can have a strong negative effect on some of our companies. 

This is an ever present threat, tied to systems that have been set up some time ago to regulate agricultural markets and which can create significant disturbances in the market place when they are questioned and modified. For instance, the current WTO negotiations are liable to bring about fairly fundamental changes. Similarly, the new US Farm Bill is hard to swallow for other countries because the massive amounts which it injects into US agriculture stack the rules in favor of US farmers. The Americans have passed this bill in the strong belief that US agriculture is fundamental to their economy and cannot be jeopardized. By so doing, they distorted the rules while at the same time reproaching the Europeans and others for subsidizing their own markets.

This is a real strong arm negotiation between large agricultural areas, and our concern is that Europe will lack the political willpower to fight tooth and nail to protect and preserve what is and remains one of the key strengths of Europe, which is a key agricultural producer. This is certainly cause for much concern.