mr. da costa. i appreciate that. any more public comment? seeing none, public comment is closed. >> item number 5, accept the audit report for the fiscal year ending june 30, 2011, action item. supervisor mirkarimi: discussion? public comment? cnn, public comment is closed. safehouse-st. paul. change car roll call. >> item number 5 -- >> supervisor avalos? >> supervisor campos? >> supervisor chiu? >> supervisor chu? >> supervisor cohen? >> supervisor elsbernd? >> supervisor farrell? >> supervisor kim? >> supervisor mar? >> supervisor mirkarimi? >> supervisor wiener? >> item passes. supervisor mirkarimi: next item. >> item 6 to authorize the executive director to execute a memorandum of agreement with the treasure island development authority in an amount not to exceed $100,000 for the fiscal year 2011-2012 operating budget and work plan to initiate implementation of the treasure island transportation program and authorize the executive director to negotiate the agreement. action item. supervisor mirkarimi: discussion? public comment? step on

mr. pedro da costa. do you think germany should go in the way of institutional changes?as greece and italy? guest: i think they are pushing for them that is where the detachment is. germany is trying to extract as many concessions as possible so the basis for the fiscal union is a sound one, and one can relate with that sentiment. right now, we are in the middle of a panic. i heard a brief economist say the middle of a financial panic is no time to build sound institutions. so, his argument, and the argument of the economists but i speak with his you have to put a floor under the situation, -- that i speak with as you have to put a floor under the situation, under the borrowing costs, because they could sustain debts if they could pay them at rates that are not sky high. once the market makes that commitment, put a floor under the system, and that is when you get into the institution building. host: in "the washington post" earlier this week -- host: tell us more about this. the u.s. is trying to play the role of mediator because it has a high state, but we lost moral hi