wolfgang munchow says greece has nothing to lose by skipping debt payment and leaving the euro zone. joins me from oxford, england. wolfgang, i couldn't agree with you less on this one. you said leaving the euro zone would only cause temporary pain for greece. but the government would have to circulate a new currency. it would immediately depreciate against the euro, you would not be able to get no loans, the s&p says even the ledge utility the state owned ppc would go bankrupt. how do you say they have nothing to lose? >> the way this is going to work now, greece has a choice, the choice between accepting the current offer and not accepting the current offer, that's the real choice. if they accept the current offer they would have to increase their savings. if you base it on the way fiscal savings affect the gdp and the way gdp affected the fiscal stance, if you do the math what happened in the last few years you come to another you know fall in gdp of 12%. in other words another four years of depression. on top of the six years of depression they had already. so you have ten years