joining me is ken rogoff. ken, it's great to see you again. thanks for joining us. >> pleasure, maria. >> we saw the markets get spooked midweek by the debt crisis happening throughout europe and ireland of course, and then calm down on the hopes of a bailout. what is the impact you see happening on the u.s.? >> well, i think people are nervous about what is going on in europe. the europeans know what to do, but on the other hand, the gm stock offering i think showed that there is healing in the markets. that was very encouraging. >> so can the eu hang together? how important is the eurozone strength and stability? >> well, they have the potential to blow up the world if they can't figure it out. but i think they will. ireland owes, maria, ten times its national income, believe it or not, to the rest of the world. they are not going to pay it. but they have to work something out. and the germans have their ideas. the french have their ideas. and ireland wants to keep its sovereignty. so it's a mess, but i think they'll figure it out. >> what a