【正文】 workers understand that you share a mon language with them, they feel you are close to them. You start to learn the Inter lingo [from bloggers and online events such as] Sister Furong and Yan Zhao Men. Also, when we travel on business and have meetings, there are a lot of opportunities to study. I am an adjunct professor at more than 20 universities in China and have lectured at Harvard, Cambridge and Columbia, which offered me opportunities to learn, prepare and interact with students there. Ma: China’s banking sector is flying high today and the contagion from the global financial crisis had a very limited effect on China. But you shouldn39。t have any consequences on the economic recovery here in the United States or, for that matter, recovery around the world. It would have devastating consequences. Chaudhuri: I strongly agree with Mauro on this because I really think that it is very unlikely that they will unravel the Eurozone or other aspects of the EU. The basic situation is now that we live in a globally interdependent economic system. It is not just about Europe. It is about the global financial markets being linked. It is about exports happening. It is about markets opening up. If you look at Proctor amp。t keep going. We need a bailout. Would you help us?”The IMF typically responded by saying, “Sure. We will help you, but by the way you need to change this or that [various economic policies].” The IMF came under attack for actually going too far in terms of asking countries to do certain things that, in some instances, proved to be counterproductive. So it is tricky. There is a professor [of management] here at Wharton, Witold Henisz, in my department who has demonstrated that when you impose reforms from the outside, when a country is in dire straits, it is actually so much more likely that there will be a backlash against those reforms. It39。Crisis, Contagion and Bailouts: What39。n: As you know, this is a very controversial issue. That used to be the way in which the IMF [International Moary Fund] tended to operate, especially in the beginning of the 1980s. When a country knocked on the door saying, “We can39。t think anybody should take pleasure in seeing the European Moary Union or the European Union [experiencing difficulty]. Quite frankly, I am dismayed at the fact that some mentators, especially in the press, are ing very close to celebrating like saying, “We told you that this was going to happen to you,” as if this wouldn39。s say you are an actor and I don’t know what your best film was, you might get upset. Or let’s say you’re a singer [and I don39。s not the case. The Czech Republic, Slovakia, Romania and so forth are much better integrated. They are the lower “cost”production centers, outsourcing centers, with high expertise mind you within the EU. And it works. Greece was not integrated for the various petitive reasons or lack thereof that we were talking about. Salmona: During the Second World War, Winston Churchill could get the British people to accept very strong measures because it was for the problem in Europe is that people do not feel it is the war, although I think it is the war a different type of war. Again, sorry to quote my French cocitizens but one of the heads of the Socialist party said last week when they had to vote in Parliament “for” or “gainst”giving $6 billion to Greece, “Eventually, okay, we are going to vote for,but I must say and emphasize the fact that we are very much against the measures that Greece is taking now.”So this is really serious. And I think that only a set of measures which would reanize the financial system at the worldwide level would have a psychological impact on the populations and on the people who vote. Unless something like that happened and the . has to take the lead nothing can happen unless [President Barack] Obama together with the IMF says, “Okay. Enough is enough. Let39。s unlikely to be the best way of doing it. Jean Salmona: Let me give you just a sentence, which was given by former Prime Minister [of France, and] Socialist Laurent Fabius, who launched the euro idea. He was at the top of government. He said, “We have to be realistic. We have to see really what the present situation is [instead of] what [we think] it should be.”And that we look at the situation, not as it is but as it should be, explains a lot of our problems in Europe. The result is that the people have someone to blame. They blame the banks of course. And they blame any scapegoat. For instance, I don39。t think about what kinds of institutional arrangement and decisionmaking procedure should be in place to tackle a crisis that unfortunately as always happens with these sovereign debt crises has built up over a very, very long period of time. But [the crises] unfold very quickly. So the roots of the situation are to be found in the last five years or 10 years and probably the last 15 years, since Greece, Portugal, Spain and so on became members of the European Union in the mid 1980s. But the unfolding of the crisis actually has taken place over just a period of two months or three months and, therefore, if you didn39。t plan, especially institutionally, for the situation then there is no way in real time that you can actually put in place the mechanisms to cope with the situation. Saikat Chaudhuri: The latest economic crisis shows it39。t know whether you have looked at the recent elections in Hungary. The far right party made a lot [of political gains]. And it is not only there In France the recent [local] elections [resulted in French conservative politician JeanMarie] Le Pen and his very far right, almost fascist, party getting more than 15%. All of that explains that the people do not know exactly what to do. Now, ing to the euro I don39。s start some very strong measures.” Guillen:What is that going to mea