we will be speaking with former ecb vice president vitor constancio.t: in the next hour, jp morgan international jacob frankel will sit down with francine lacqua. later on, we will speak with fabrizio pagani. christopher pissarides. himself, nouriel roubini. this is bloomberg. ♪ matt: welcome back. this is "bloomberg daybreak: europe." i am matt miller in berlin. nejra: i am nejra cehic. stoking fears of a recession and concern the central banks will not have firepower to tackle the downturn. these will be topics at the top of the agenda and something our next guest is acquainted with. francine lacqua is on the banks of lake como. francine: great to see you. with us is vitor constancio, former vice president, european central bank. as always, thank you for getting us a little of your time. so much has happened to the euro zone economy. thing you be the would tell christine lagarde to do? when she went to parliament recently because it is the appropriate thing to do, the present slowdown and the situation deteriorates further, in particular coming from