martin malone is my guest this morning, the chief economic advisor.n, we talked about the macro boost around the world and in the united states as a percentage of gdp. when you look at the euro zone, do you think the ecb has got its foot squarely on full financial conditions being favorable? martin: yes, i think so, and there is a lot more that they can do if there's any risks. i think if we look at the budget situation in europe, it's around 6% of gdp this year compared to 10% last year so it's actually a four-point step down. you look at what is going on in america, fiscal policy in 2021 could be 10% so significantly higher than europe and this is why you have ecb members like christine lagarde asking for governments to do more on fiscal so instead of the ecb, i think the focus in europe, particularly with this sort of roadblock on vaccines and variance and lockdowns, we are going to have to see more fiscal of two points to three points in europe over the course of the year. manus: well that bear out on the you send some narratives for me to take a