jeff staley says their strategy is working do you think that simplification strategy does seem to be working for the long-term? >> i think barclays is working out. the balance sheet is also very good, which is what i care about. on the credit side, they are reviving the ib. they made a bet on reviving that investment bank. there are signs in this earnings report that it is working. the daily moves of bank stocks today are dominated by neighborhood type of issues, in the case of uk banks, brek new news, and with the eurozone banks it's about italy the earnings per se are not going to have much of a weight in terms of the shortened direction of stocks or credit spreads. it's about those broader macro stories that are impacting the sector the sector is a very good proxy for expressing a bearish view on eurozone stablilitstability. >> jeff staley mentioned brexit was a concern that the bank had to shrug off or get past is that a conveni reason peoplen point to poor performance or are we seeing meaningful impact on these banks in the uk and from outside the uk with what may or may not hap