I have material shot on a new camera in 16x9.  When I import it into FCPX the media is "squished" into 4x3.  How can I get it to look right?

I have material shot on a new camera.  It's a Panasonic AG-HPX250EJ.
According to the clip properties of the media on the camera the footage was shot 16x9 at a frame rate of 50i
The format is DV25_420
The problem is that when I connect the camera to the iMac via a USB cable and attempt to import the media into FCPX (I'm running version 10.0.1) it displays as 4x3.
What am I doing wrong?
Needless to say I have a deadline looming for the edit and I'm rather tearing my hair out. 

If problem persists after importing via FW
Select the clips in the event browser and in the inspector select INFO.
Ensure that the View bottom Left is set to SETTINGS.
You should be able to change the way FCPX interprets the clips via Anamorphic Override.

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