I get the feeling they may have regretted that exit and they've probably been looking for a good reason to get back in with an eye on sector consolidation.

That's the kind of thing that they are good at and what the market would like them to do.

I think they have to respond and I think they have to respond with cash.

This one looks very unlikely. BBVA is currently focused on trying to get (Italy's) BNL. Its priorities after that are in the (southern) U.S. for links with its Mexican business.