To give a rough idea of the situation in the eurozone, for example, the situation there is as follows: the European Central Bank has taken over almost all newly issued government bonds since 2016, especially those of the southern states. in addition, there are the purchases of bonds from the north, which in turn end up in sovereign wealth funds, pension funds and banks, which use them as collateral for their transactions. Family offices and private investors hold a very small proportion, which is likely to be less than 10%, somewhere between 5 and 6%