we go to jim bitterman, live from france. the euro zone debt crisis will be dominating the agenda at this g20 finance minister's meeting. is there any sense that the world's emerging markets may to a certain extent come to help out the euro zone crisis. everybody has something at stake. >> exactly. i think that's probably what there is some expectation of. the fact is here, everybody has an idea what these ministers that are gathering here, these high level officials should be doing. the question is will they do it? when they start meeting a few hours from now. what you said about europe is absolutely true. there is a growing frustration, i think, outside of europe that the europeans have not done a better job at managing the greek crisis. other sovereign debt crisis within the european community, that they haven't done mar. this is something that barross said they haven't done to strengthen the fund brought into play to help solve sovereign debt crisis in the various countries, that they're not doing more to strengthen the b

from berlin to paris and jim bitterman. the french banks have been under all sorts of pressure because of their exposure to what's been happening in greece in particular. many of those banks to to v to wear a 50% haircut. how is that going down and what sort of impact is it going to have on the banks? >> well, that's a good question. basically if you take a look at the total debt that the french are holding, about 54 billion euros in debt. if you take 50% of that, 27 billion euros shortfall for those banks in terms of their income for the year. it comes from reduced dividend, reduced pay, for instance. it could come from recapitalization in the private sector of those banks. so the banks will be looking for capital everywhere. the one question that remains to be seen is will it reach the consumer. will the banks raise their fees? will the banks raise their mortgage rates, that sort of thing. president sarkozy is going on television tonight. he's at the start of a 2012 election campaign. and my guess is he's going to start o