and eswar prasad, cornell university economist and a fellow at the brookings institution. he previously worked at the i.m.f. >> ambassador if some ways we have been here before with grand announcements, the market goes up and then a few days later disappointment. why is this different? >> i think this is different. we have for the first time a comprehensive plan, one that goes very far in addressing short-term issues, as much as longer-term issues. i think we are dealing effectively way greek problem and avoiding a contagion effect to our countries. we are involving the private sector, the banking sector. they have responsibilities in finding solutions and they are contributing to the solution. >> and we are, you know, creating more firepower for our crisis mechanisms, being able to deal with the present situations but also with potentially future situations. >> brown: there has been a sense and even a fear around the world that europe was in-- some in europe were in a state of denial. not facing up to the scope of the problem. not dealing with some of the comprehensive me