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High hopes for the G-7 from a chiefs -- talking now but will let plans war the markets may need more convincing. The Euro synching again. And European stocks are struggling the admission by Spain that it's being shot out of the credit markets. A reminder of how bloody. The mess is becoming let's get straight to Michael -- to race strategist -- -- that bank in Frankfurt. Michael -- spring shut out. The markets and -- Well in a way if film that's an incandescent and does -- non Spanish investors scaling back expose us. So it's pretty much -- the domestic investor base that has to make up for that and I guess this could also be the key FEMA because -- them Spanish bond -- So you think they gonna find enough. Domestic support to keep them liquid -- how long. Well at least for now August the Spanish and things they have no other choice but to sort of keep them -- given the already high level of exposure. By the obvious GM as you've seen them in other countries so island and increase and important and this is not really sustainable all the tea a year or two but rather for a couple of months. Are you expecting anything from the ECB and Girardi Smart. Well I'm not really film on the wanna -- don't think they'll -- the level rates. And also with we got through the month and the measures we don't think that really get anything material from -- Because in a way I think that the ECB is very aware of the risks to their credibility if they would yet again move ahead of the government's -- play a more dangerous game now Spanish. Not all the ECB. Well I guess. Space is indeed they're playing a more dangerous game here because of them but these comments signaled this morning news. I guess that they'll -- -- welcome this because of -- too big to fail as as a country in the way so woman and they seem to be really willing to to play that cut. Which will make -- -- content finished with the negotiations over the coming months but some would argue the ECB is not aware enough of that status right. Yeah I guess also I guess he studies on the on the heavy press on India where his resignation from from the German Central Bank has already. And I guess given that the critics. Getting getting -- more and more arguments for the ECB -- why these these were called back. Solemn indeed it's I think everything can happen and then but I guess that we would get a decision Lovett put some of the later. G-7 having this conference call round about now I believe it's tossing -- you should or should we be a -- hopeful about this. Well plus the wouldn't get my hopes to hire him as this you know with we got to market reactions. -- -- The market is youths who -- fetus than sort of brought -- -- statements -- don't -- and you know give the market and -- to work with so I guess I'm just wouldn't get your hopes too high on that one. Okay thanks and Michael. For all the talk of rescue plans for the Euro zone and G-7 conference goes the only way. Is down at least that's the view of our technical analyst for the single currency. We have indeed it's sometimes channel we can see that we spades. We have people in the middle of the channel for a while and our breaking down the last supports. So as long as well you know 1261. Tee which is the resistance and we have to watch. I have to assume that we will go back to around 170 you know passivity to lower BC's the introductory price of -- obviously it's a strong support. That was market pulse IMAX and truthfulness -- choices.