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-- -- -- -- We don't want -- let you know what this is the perfect -- in our next guest president got our question was about can have confidence in Germany hello -- and around the comments from Italy about another -- definitely get its day in the -- -- -- -- Mr.
club David cloud that is director of the -- poll of -- in London.
David did you hear actually is question because I'm -- how -- -- into that.
Cut prices amid what's going on and -- other nominees just so awfully confusing people don't really understand what is happening.
We -- Mario Monti from Italy saying that yes.
Everybody who came out of the European leaders conference.
We're in agreement that the Euro bonds all the way forward and then we get them.
Conflicting news coming out saying that agenda -- not agree to any of this so people are really going into the weekend slightly confused so this morning.
The stock market was in a reasonably healthy shape following on from yesterday and then later on today everything's got to go a little pension and we also got news that that -- -- this is the Spanish bank it shares have been suspended at the moment.
-- pending some kind of restructuring.
I presume what it really means is that it -- run out of cash and they gonna need more.
And then we also -- this new -- now they get this new one called the EO and he'll be -- the emergency liquid liquidity assistance.
And this appears to be some -- a slush fund that the European Central Bank operates and has been pumping that money into Greece.
Right now to times -- -- -- -- banks' bad that the commercial banks.
A floats lots of confusing signals coming out from the market.
Slush fund that's great and it.
I -- actually have somebody wants to well.
I wanted to know David what do you think that Angela Merkel is gonna have to eventually fold on this whole issue of Euro bonds she's really.
Looking like a lonely figure right now in in the Euro zone.
There but would -- do actually you know when when when you know you are right and everybody else is wrong.
You go with the flow and say OK -- I'm gonna capitulate and just go with everyone else what you say that no I'm actually right this is the way forward and everybody else is wrong it is a very difficult situation but to -- -- right now.
-- -- -- in that position before you know what I think that something is absolutely right and that ultimately peer pressure just finally get Steve -- OK you know I give up I'm not gonna argue anymore I'll just go with what everybody says that you do have about tomorrow to catch up on spaghetti -- based I don't know how does this happen.
-- David had -- I'm askew question it's hard to answer though how potential downside is there's still.
In the European stock markets because of all this -- all these unanswered questions.
Do you know what they get what went -- and I look at the Greek situation -- I can only see two possible outcomes.
Greece stays in the eurozone.
My brief stays in the eurozone it means that by the eurozone won't have to prince and pump more money.
Into Greece to try to keep it afloat so that scenario number one scenario number two -- of Greece leaves the Euro zone.
I have Greece leaves the Euro Saudi means that many that banks that have lent Greece money are on the -- They're not gonna get their money back so what happens then.
The Arizona -- the print and pump more money so therefore whatever the outcome I think the ultimate solution for the eurozone.
Is to set -- by the go down the -- all of the Euro bonds or to go to on the route took this long term refinancing operation which is to create more money and pump it into the system or to go down this stuff that this new thing called the emergency liquidity assistance.
Which is to create and print more money.
That is the only solution that they Europe has what what what all the way you look at it.
That seems to be the ultimate solution to print more money and when you do that.
It's gonna devalue the currency.
Part may -- par as I'm -- four and let's take strip continue.
The dollar borrow at the -- by David thank you David Clavet terrific weekend.
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