threaten the recovery that we are slowly, slowly putting together in america. we're adding jobs slowly but if con contagion as they call it spreads from europe to the u.s. we could have a problem and that's what markets are reflecting today. >> beyond greece, we know portugal and spain have seen their debt ratings downgraded so for people who thought this could be possibly isolated to greece they were certainly wrong. we've seen the impact. >> reporter: yeah. i mean, it's sort of like if you remember the problems we had with bear stearns and then it was lehman brothers and then it was merrill lynch. investors have an attitude that if -- it's the old cockroach theory. if you see a cockroach there are probably others lurking where you don't see them. people are looking at greece as a trouble spot but saying, well, if greece is in trouble and it's taking this much effort to rescue them, what happens if spain gets into trouble? spain's economy is nearly six