joining me now is john lipsky, the i.m.f.'s first deputy managing director. john, so nice to have you on program. >> glad to be here, susie. >> susie: well, as you heard, investors all around the world very, very concerned about the european debt crisis, and just want to get your thoughts on how bad is the situation? >> well, there's-- as our managing director christine liggard said today, we are in a dangerous new phase in which it is clear there is uncertainty about the economic outlook and unsupporter about whether economic policymakers have the will and clarity of insight to adopt policies needed to keep the economy-- global economy expanding. we think that the answer is going to be continued expansion because we think that the underlying fundamentals and the policies that we anticipate will be put in place, will produce that result. but for now, it's clear that there is an issue of confidence on the part of investors. >> susie: john, earlier this week, the chief economist of the i.m.f.-- and i'm quoting him-- said,"europe must get its act together." what

also tomorrow, we'll talk with the international monetary fund's john lipsky about the global outlook and the financial health of european banks. despite a scandal over a government-supported solar panel maker, interior secretary ken salazar said today the obama administration will continue to support efforts to expand the solar industry. he says troubles at bankrupt solar panel maker solyndra highlight growth challenges facing the industry. while critics say the administration shouldn't be subsidizing solar, salazar points out the oil and gas industry have benefited from subsidies for years. some good news from the housing sector-- existing home sales posted their biggest gain in almost half a year. the national realtors association says sales jumped 7.7% in august to an annual rate of just over five million homes. at the current sales pace, there's an 8.5-month supply on the market, but prices are still under pressure, falling 5% from a year ago to an average of $168,000. with the fed keeping interest rates low and c.d.'s and savings accounts paying little interest, what can a retir