>> i am not familiar with the structure of smud. i know they serve well outside of the municipal boundaries. do any of you know? what examples are there of a municipal utility for a single city? >> city of alameda, has its own municipal utility. trying to think. >> reading, los angelos. >> thank you. >> quite a few. >> 25% of california's electric customers are served by municipal utilities in the state. they range in size from the largest municipal utility in the state is lawp down to very small cities that run their own electric departments and municipal departments like heelsburg. >> any comparable size to san francisco? >> so today, our current sizes us about the 15th largest public owned utility in the state. were san francisco to expand the expanding service, we would be the third largest in the state. we would be behind lawp and smud. >> maybe you answered the question already, but what's the oversight to, like, l.a. >> so it varies across the state. we already talked a little bit about smud where they are a district and have

smud they take this announcement that the ecb itself is stepping up for no deal as a possibility in athey weren't weeks, months, years ago >> yes as i said, there is no zero probability of a no deal, and it is the duty of central banks to launch all measures that could prevent any risk it's a precautionary measure more than something else >> now, earlier today we have that pmi data coming out of europe, and i think it surprised many the strength of those numbers given what the ecb -- you shake your head no were you expecting to see a rebound after the weakness that we've seen in recent months? >> yes, to some extent there are many signs that the slowdown in euro zone growth we had last year is not protracted we have a lot of one-off effect. a bit of bad luck. the slowdown was not protected we have since christmas last year, we have a v-shaped market, financial conditions worldwide are going better, are easing we now have even more chinese stimulus the european car sector is restarting slowly, so we have a v-shaped recovery in the economy. especially in service. a look at the previous