more long term the euro itself will be in the around france you know when you see the map of the e.c. has been pretty recent and that is a motion i see significant information including non-serious. let me just ask you about iceland and their former prime minister is our trial now for his role in a financial crisis and you see anything like that happening in ireland were they let's say sharpish patrick or mine are irish if they get him on trial for financial terrorism the they see anything going down this path hopefully we will and i mean i can guess what we need and i mean we need to learn a lesson from this some people who have been involved in a secret bankrupting the country should face trial or now you have the icelandic resting heart of he's on trial. i think. in a sustained so to speak is working her who was there for finance and he was. she and him he is the man who i would think most are who accept this primary stossel repairer message ourselves then there's a tribunal now to some if it's ever finding softer shears and hand there that they're going to give their evidence and he's

e.c. be steppin there as it has been doing in an open ended unlimited basis the problem is they keep saying well we're not going to do this forever and every time they say that there is a real worry that the whole thing can come down like a house of cards but until now they've been functioning in that regard but look you could an individual or an entity can stay insolvent for a very long period of time if it has that liquidity to meet its liabilities on a monthly or quarterly basis whatever but the whole thing can continue to get worse which will require larger and larger injections we saw this l t r o two right it's bigger than the first one yeah and the next one when it comes along will be bigger than the second one right so what options do we really have don the banks i guess is one or i guess government coming in and admitting that they're not willing to have a free bond market but at the end of the day that's socialize and so is there any way that we can return to free and fair markets. well there is a need to have a real fiscal authority and it has to come from the currency issuing an