But we have to look at the risks no matter how unlikely they are to materialise".
"If downside risks were to materialise, regional and global spillovers could be significant, given Italy's systemic weight".
But much now remains to be done if the broad outlines agreed at Lima are to materialise in a full-fledged climate deal.
It didn't take long until the first financial companies started flirting with the idea of shifting certain activities to Luxembourg in case Brexit were to materialise.
If an agreement were to materialise – which would have been unthinkable a month ago – it could produce a solid unity government able to take the necessary bold decisions to crack down on the militias and renew major public infrastructure projects.
If a potential Chinese buyer were to materialise, public opposition might well lead Stephen Harper, the Conservative prime minister, to disqualify it on national-security grounds, by declaring that potash is a strategic resource that needs to remain in Canadian hands.
There was also evidence that remnants of the problems that resulted in that 10th-place finish remain in an ageing team requiring further enforcements if a title challenge is to materialise.
The Labour government would need many more tax officials, armed with greater powers than they have now, if the huge sums in uncollected tax – on which Labour's projected spending plans depend – were to materialise.
"If, in the long run, the risk of a less open UK economy in terms of trade, migration and foreign direct investment were to materialise, there would be a negative impact on innovation and competition, and thus, productivity and potential output," he said.
Peter Kyle, deputy director of Acevo, said that if ministers' pledges of extra funding, outlined in last month's public services white paper, were to materialise then there would be another £2bn for charities – enough to fill the gap left by the estimated £1bn shaved from their local government grants.
