>> what mario monte has brought is serious and determination and wanting to pull the country out of this sort of gloomy mindset it was in and he has the courage not being a political character or being really elected to be able to prime minister. he had the courage to take very very harsh measures in terms of opening up competition. removing a lot of constraints on the economy and attacking the labor market to bring more flexibility. he has been able to rejuvenate trust and building a renaissance. i would never give up on italy. >> rose: it is an extraordinary country but when you say fire wall are you primarily talking about italy and spain. >> for them to avoid contagion if things went south, let's say for a second which i don't hope and i'll do everything to avoid that greece the greek deal currently in play doesn't workout. let's assume for a second the debt swap is a failure. the europeans have to stop the contagion because there's a risk what happens in greece percolates to risky territories because they're bigger in terms of amount and that's italy, for instance. i don't have for

exits and italy, i don't think italy is ever going to exit the euro, we spoke with prime minister mario monte a couple of weeks ago and he's adamant that italy is not going anywhere. >> any of them might require a currency restructuring. and any commission of them, eventually some of them might exit. restructuring after greece, i think portugal is going to require that restructuring and maybe eventually exit like greece. italy and spain right now, they're stabilizing their spread. i have fiscal austerity, the strength of the euro, if they have a recession, if it doesn't bottom out, the market is now worrying about growth and unemployment. and the spread will widen again. >> so you're still bearish on the global economy. you've been talking about a hard landing, or, you know, not such a soft landing in china for a while. and an expected slowdown. what are you expecting in 2012? you're headed there next week. >> our estimate in the first quarter of this year, quarter over quarter growth of china could be less than 6%, between 5% and 6%. export growth is slowing down sharply. residential investm

. >>> let's move on, it's crunch time for mario monte. he is the point man for this.succeed all those problems will come back and europe will be on our radar every single day again. so monte is introducing changes in the italian parliament to change the labor laws. article 18 specifically says you can't fire anyone for economic reasons. they're going to try to change that. the main italian labor union is out against this change. a couple smaller ones appear to be in favor of it. >> when that happens, i'll believe he can change the labor laws. are people optimistic this can happen? >> yes, they are. this is brian's way of saying hell will freeze over before you get that. i think you should be a little more optimistic. >> listen, i hope so. i want to be. >> italian parties that are very closely tied to the labor unions are the ones that are talking about it. >> melissa, back to you. >> hey there, brian. yeah, what a crowd is forming around the cast of "mad men" set to premiere its fifth season this weekend. we're joined by the cast of "mad men." i'm sure you know many o