peter mororici, economics professor at theniversity of maryland, d josh boak for "politico."talk about ja dael's. are going to start with the biggest news making headlines righ now. the problemsms with ththe euro. peter, what are the bigiggest problems this week? >>>> essentially the eueuropeans had to come an agreement how to limit their budget deficits. it does t give europe what theyey need to have common currency which is a governmement that c can do the things that washington does. if the individual countries cannot run a deficit, you have to have been national governments during times of recession at can. there was no sign -- this takes that away. they have a place without fiscal popolicy. >> some banks in the u.s., , too bito fail. the concerns ththat no tter how trouble they a, european gogovernmentnts are too big to fail. $100 billion in u.s. funds committe you wrote this week ere is a grgrowing movement to remake on the promise. >> the economic contagion we were afraid about is spreading to the united states and is a political contagion. thedministration in 2009 com