The ongoing European debt crisis presents one of the most complex challenges to European stability since the creation of the European Union.

Well, so just to sum up, at this point it sounds to me like what everyone is suggesting is that there is no reason to be optimistic that the efforts undertaken will have a real impact on the European financial crisis and therefore we are…

I would--I have just one final question and I would be remiss as the chair of this subcommittee...

This crisis presents one of the most complex challenges to European stability since the creation of the European Union.

It is not an optimistic picture that you all paint, sadly.

I think the main problem is that it risks delaying the entire effort.

In today's global economy, Europe is by far America's most important ally.

See, it's not only politicians who have trouble answering yes or no.

Thank you very much, both of you, for what you are doing and for being here today.

Now about 90 percent of it is being recycled.

So not an easy delineation.

That's different than what you're seeing, Mr. Beauduy, is that correct?