as was noted earlier, you all know something about josef ackermann's background. this is one of the premier financial services leaders in the world today. it goes well beyond his financial-services. it is business, civics, government. he advises many world leaders. he sits on a number of boards. this is an individual global leader. i say that not without appreciating the significance of ththe statement. he is a global leader with considerable range. we're proud of his association with the atlantic council over the years. ladies and gentlemen, it is my privilege to introduce you to our guest today, josef ackermann. welcome. [applause] in his typical style, he said let's just do q&a. that is what we're going to do. i will go back and forth to the audience. we will go to the audience quickly. let me start by going back to the statement last week. the washington post said describing his statement that he declared the common currency was unsustainable until further steps are undertaken. is it time to start worrying about the end of the euro? if so, what should we be th

josef ackermann is an old friend of the atlantic council from mine raised as the atlantic council andis it by satellite on a great deal, but more importantly european leaders and business leaders around the world have relied on it. he launched our series here as chief on mapping the global and financial future and we're just delighted to have him back after he sat down and now joins eric to pick up that drive. we are at a place where last week european central bank president mario druggie used a stark warning saying the structure theories on this quote unsustainable unless further steps are undertaken. he also said that europe's handling of the crisis, where he feels leaders are basically i'm a fundamental size of the problem wrong at many points along the way has been the worst possible way of doing things because everybody ends up doing the right thing with the highest possible cost and price, unquote. sebastian the central bank president in europe. obviously with the atlantic council believe in order for the u.s. economy to return to a path of the same sustained growth and for the