who better to address this than marty finestein. marty, nice to have you on the program. thanks for joining us. >> good to be back with you. >> let's talk about italy first. we saw the italian bondyield rise at 7%. why is this number so important? >> well, because italy has an enormous debt now, andf it has to pay 7% interest on that debt as it rolls it over, it's going to reach an explosive amount of dedebt which will push the econy into insolvency. so it's got to bring that number down. >> so it seems we've moved past greece. now we're focused on italy. is italy the world's seventh largest economy, fourth largest bond market. how dangerous is italy's debt issue? >> well, it's very dangerous but it's also very fixable. >> in what ways? >> well, let me say first that italy is running a primary surplus. that means if you set the interest on the national debt aside, it actually has a budget surplus. so if they expand that budget surplus by 2 or 3% of gdp, they will be able to bring down the debt to gdp ratio and markets will breathe a sigh of relief and interest rates will