let's bring in our guest this morning, manish singh.heyeuropean equities, are mispricing political risks? possibly.rclays, i believe the ecb is going to do more. the significance of this election is not just about the popular party becoming unpopular but more in the sense that the divide. they have not been catching -- cutting pension plans. they are retaining support. giordano's --d emos and chu. o's -- ciudadanos. pro-what is going to happen over the next year? or is it negative? take us through the economic implications. there are positive applications because if you look at how the middle class has been streaking -- shrinking, do you think there is a need for a solution to happen? to give an example, if you look at the u.s. come up the middle class has become a minority. who does the buying? expand, things do not and they do not get the money, it is going to start hurting the company's and economy. very perversely, if you think this helps the middle class, then that should be positive for the company and the economy. always a favori