what they did was they very quickly said no, we have to deal with the budget. 2011, veryosed in soft budgetary rules. -- france, for example had already increased tax dollars. you already had the knife and your throw, he had to do it. later, with the bad loan problem with the banks and all that. it was the exact opposite of sequencing. the u.s. has a more flexible economy and more flexible label -- labor market than we have in european countries. and even have a more proactive macroeconomic policy. europe came later. they came to it later. -- you. has a much more said the macroeconomy has to accommodate. we don't have flexible markets in europe and we don't have the fiscal and monetary policies you have in the u.s. we know, in fact i am doing work now showing that there is complementary between one hand, the civilized labor market, and on the other hand, a more fiscal -- conservative fiscal policy. if we look at the growth benefits, you do more interest rates during recession, and you look at the growth of the sector, you can see that the gross effects are much bigger where you have