>> i think olivo blanchard earlier spoke about psychological contagion.nk that's right it's rational for investors to reappraise their risk analysis in terms of these investments. but i think there are significant differences. in particular in spain notwithstanding the risk that emerged in recent days spain and ireland have been the poster boys of coming out of restructuring and seeing their economies adjust their competitiveness to levels where they can grow quite strongly so spain has been quite a positive story therefore over time i wouldn't expect that contagion to be as persistent as it's been over the last number of days. >> just returning to italy specifically, is there a buying opportunity there with stocks in terms of opportunities for a price increase, a bounce back from yesterday is that cynical? in terms of the investor mindset, you're looking at this uncertainty in italy you're looking at policies being put forward by leagga and five star, is there reason to park your money there now >> i think there is. you asked the question why did preside