joining us now, scott macdonald, head of economic research at m.c. asset management. >> scott, thanks for joining us tonight. >> thanks for having me. >> all right, so does this agreement mean now that greece gets those emergency funds that it needs so much and that it also avoids default on its debt. >> what it means is the door is open. the greek government basically the top three parties agreed to make the cut of 1.5% of gdp. they sent it off to brusels where the ministers of the 17 member eurozone countries are meeting, and brusels sent it back to them and said okay, let's see what you can do here. the question now is can the greek government implement this process. and they want to see results at this stage. and that's a very important aspect because they had an earlier bailout plan and they were very, the results is did not come in, this is why we negotiated this package since last july. >> you know, scott there has been so much back and forth it's complicated. its complex. but the bottom line of all this it seems is that these measures are all