infact, it is a global trend in the next six months, most markets will be entrenched in some sort of political tension, geopolitical tension. >> is that really an overall truism? it is a thing to say that they will suffer some sort of political problem or economic problem. have then as you don't right gdp numbers, the right of a sharing & the witty, you have revolutions. right numbers, you have revolutions. as soon as you deprive people of stable inflation and of have revolutions start and they usually start in more marginal areas. >> i found it interesting that you singled out five countries. you're saying it is payback time. they were irresponsible earlier. is that what you are suggesting? >> yes, stalled reforms for about a decade. social economists are talking about, they have created a system that is designed to fail, but in breach of the very few people. and lack of reform and those institutions, plus low liquidity , it is sitting to expose those problems. the only way out of this is by reforms. that's why, if you look at the nine they do. -- they do. there are many risks. the