joining me more on the markets and investing around the world is jes staley and mary callahan erdoes. good to see you both. thank you for joining us. >> hi, maria. >> i feel like walking around davos, meeting people in panels all i hear about is the european debt crisis. this is the wild card in terms of investment community. are you worried? >> you have to have a good degree of concern. the structural challenge of the unified monetary system with a nonunified has create aed problems for europe. the political capital to help the eurozone is enormous and we shouldn't under estimate it. the european central bank as everyone has been talking about in december took a bold move and moved out a cannon to give liquidity to financial markets across europe to buy the politicians time to address the structural challenges. so are we concerned? yes. are we worried? much less than people were a couple of months ago. >> looking at the market activity in 2011, a lot of nervousness, whether it is europe, the u.n., even china the engine of growth for the world has slowed down. what are you hearing fro