still lots of concerns about the program and i'm happy to say richard portis is still with us.o you think about the development in italy are we in another greece situation where a populist anti-establishment party comes to power and eventually gets put back in line or will this be different because italy is so big? >> because italy is so big it would be very, very different. it's hard to interpret the noises coming out now about the program. they seem to change from day-to-day the latest story about issuing b.o.t.s in quantity is a sign of danger, because you see the long-term spreads widening if a country moves to issue short-term, that is a danger sign it bodes ill for the medium term their complaint is that the markets are attacking them they look at the news, the people out there, there's no single individual called the markets. people out there are seeing potentially very bad news for italy and italy's economy and for italy's ability to stay in the euro >> there's some seismic shifts going on in europe in this circumstance we did see the anti-establishment populist parties