world today greece and i should also mention that you're a professor of economics at the university of western sydney and you're an expert on debt deflation so clearly and grace this is a test case example walk us through what's happening well the whole universe is an unfortunate instance of what's happening in the whole globe the whole always. economies and the real cause of this has been a huge debt bubble which is being driven by the financial sector that is knows it can only make money by creating did it but it has to find a wife persuading or so ago it get into more debt than we actually want to take on i'll use the analogy is a bit like going to a dentist and then this wants to take out more teeth because the multi take up the more money max and you want to go onto that actually needs to be removed you know but he's persuasion would have more teeth removed will be six. so you fulfil them all to it's removal and that's what's happened globalise we have private debt that we should ever of had and that's what's driving the entire process now greece i don't know enough about greece to say that gree