With these sacrifices, Greece did avoid bankruptcy and the eurozone avoided a collapse.

Italians. This is precisely meant to avoid backlashes.

Meh.

But this I just want to show you some data here.

But I think today that most would agree that Greece was only a symptom of much deeper structural problems in the eurozone, vulnerabilities in the wider global economic system, vulnerabilities of our democracies.

This was the last 15 years before the crash, and you can see there, consumer debt rose dramatically.

We see the Occupy protests, we see spiraling debt crises, we see growing inequality, we see money's influence on politics, we see resource constraint, food and oil prices.

You're still solvent.

They serviced the loans.

Bellwether signs again.

And the Chinese character for crisis is actually the same side of the same coin.

We would create incentives for securitization.

Payable to the City of San Francisco.

Helps bring it down.

You have 189,000 as the value of this equity.

Now let's say it gets even worse.

What is your strategy in your household?

Well everyone knows that it's not going to be exactly 10 .

So that's bankruptcy.

You go get bankruptcy protection.

This guy, he does have interest.

It allows let's say this group of borrowers let's say this pool of borrowers right here actually didn't

Grief for the gods!

You're just gonna have to

converter, euro, money, cash, calculator

Trouble.

It can do it through debt or equity.

I have 4 billion in residential CDOs, collateralized debt obligations.

Over the next few years big decisions will be made in Washington on jobs, the economy, taxes and deficits, energy, education, war and peace.

External debt something that I can tell you a long story about because I personally worked on one of the biggest debts on the continent has come down dramatically.

So it's midlife crisis. No, he's just quiet.

So we still have the same amount of debt.

So, each of these is an investor.

(Roar) 6 00

Have a surplus? Take two tax cuts, roll back some regulations and call us in the morning.

It's exciting, but we went over our finances and...

That man borrows money from many lenders.

That man is a heavy debtor.

That man has many debts.

EU euro

Euro

So it buys, it buys debt.

There's a definition of leadership which says,

JA Yeah, this is a great case, you know.

I'll be planted in a pot because of you for the rest of my life