better and fail to take action that the scientific community has been screaming about climate change for years. for the global ecosystem, there is no going back. climate threat is now a cost of doing business. that is here to stay. zane basra b olga 0 on greece's area island. ah, this is al jazeera, these all you top stories. the africa government has fallen on the capital has been taken over by the taliban. the group has taken control of and abandoned presidential palace with extraordinary scenes of it's fighters, rolling up the national flag and posing for pictures behind president struck on his desk. the taliban says it's committed to peaceful transition of power or the below human point of view. miss miller rough manner of him, we have come to our victory. we'd like to assure our residence names have been given to us. we would like to ensure the security of the people that president

sharp, gaudy, has fled the country. though a chaos exceeds that cobbles airport, as others also try to leave the u. s. and other nations still have forces. they're working to evacuate, the citizens and africans who have supported them. the u. s. sexual state, antony blinkin says his country has achieved its mission in afghanistan and rejects comparisons for the fall of saigon in 1975 in what was then south vietnam. let's take a step back. this is manifestly not saigon. the fact the matter is this, we went to afghanistan 20 years ago with one mission in mind, and that was the deal with the people who attacked us on 911. and that mission has been successful. we brought a lot to justice a decade ago. our cater, the group that attacked us has been vastly diminished. its capacity to attack us again from afghanistan has been right now does not exist. and we're going to make sure that we keep in place in the region. the capacity the forces necessary to see

any reemergence of a terrorist threat and to be able to deal with it. so in terms of what we set out to do in f canister and we've done, it sounded opposition leader hockey, and he dilemma has defeated the incumbent president, gallum, gu in it's presidential election. it was his 6 attempt. the electoral commission has just announced the results off the delays encountering the death toll from haiti's quake has was into nearly 1300000 more have been injured rescue teams a desperately trying to search for survivors ahead of a potential deluge from an approaching tropical storm. those, all the headlines nice continues here now does era off to counting the cost? i lose

. hello, i'm sammy's aid, and this is counting the cost on al jazeera. look at the world of business and economics this week, the multi $1000000000.00 european p fun. europe says it's the fine terrorism in africa and counter china and russia activist, save and provide arms and training to dictate when central bank finance government spending, all they still independent. tell you how much central banks night, the debt they own and where to blame for the climate emergency stream weather events will continue to work in costing billions and placed in 1000000 the your opinion as long used its economic policy spread influence around the world, efforts to create a european defense full of launch the been a failure. brussels has traditionally relied on nato for minute reaction,

but the united states has been increasing pressure on the european union to do more for its own security. in comparison with world powers europe, the defense spending has been far behind. although europe biggest and 2nd biggest economy, germany and france rank 7, an 8th, our top 10 spenders. so 14 european countries this year proposed the rapid response force to help democratic foreign governments needing urgent help in 2007, the e. you said how baffled groups of 1500 personnel to respond to crises, but they've never actually been used. it also established a 7900000000 euro european defense fund to finance the next generation of war planes, tanks and ships. the money will only be available to your a p and defense companies and washington has already raised competition concerns.

however, there is a little known fund that has gone under the radar, the 5000000000 euro european piece facility. it'll provide training and equipment, including for the 1st time weapons to non european military forces around the world . of the prospect of europe giving alms to dictators or on democratic forces, especially in the south hell in north west africa is raising concerns. france is in the process of withdrawing its troops from the region after 8 years fighting a father and isis aligned forces. frances intervention hasn't reduced the violence so, and it's only been able to continue operating in the somehow with the support of us satellites and drone intelligence, strategic, lift, and add to refueling. the hell is seen as an important battle ground for the european union, primarily to stop migration across the mediterranean, but also account of the presence of china and russia on the continent. my,

let's get some analysis now with volker how his head of the security and resilience program at the european center for development. policy management joins us now via skype from ma, strict in the netherlands. good to have you with us. so the european piece facility, it isn't entirely new. is it why is it a try? think a lot of attention now. well, it is, it is a new instrument, but it is not entirely new because there are certain elements of the instrument which have been implemented before. it is instrument that built on the former african piece facility, which provided supports on peace and security via the african union since 2007 ended and this year. now the new thing about the european piece facility is that it is a global facility. also underlying the wider ambitions of the you do engage globally on peace and security matters. second, it is,

and this is really the big change and it is a paradigm shift for the you that it is there to provide also lethal weapons to countries. the ego is partnering with now the 3rd element is that the you can directly into act with individual states before under the african piece facility for african states. everything had to be clearly communicated, negotiated also agreed upon with the african union. now this consultation is not excluded. currently, but the final decision on the use of the european beast facility funds is with brussels or with the right ones. however, put this into perspective. ready if i just may add to this, it is a, it is, it is a fund that has 5000000000 euros in total over a period of 7 years. now if you break this down on and if you see what commitments

there already some 2 to 2500000000 will. busy go in through the african union support of amazon for somalia, the african union peace support operation. now this remains this leave some 302400 1000000000 euro to support globally beeson security. just to give you a figure nigeria spent between 20172019 annually. 1.7000000000. so here you have the proportions, but it is money to buy material military material. ok, and we pick up on the 2nd point you mentioned there in the 3, you are listing using public money to basically supply weapons to fall in the trees . you think that's the best way to promote peace in the world? well, you, you are right to put a question mark there, but it reflects in a way,

also a changing thinking within european member states and the e u. because there is a feeling that the issue needs to find its position and also internationally that they have been experiences. suddenly as to the, i was in the 2000 and tense with the syria, with libya that the in y m and of the us more me getting one more insecure. and the you, this is the irrational wants to become more of a international actor. the theory behind this is fairly simple. there is and there is an idea of supply and weapons to military actors so that they can take care of the security. and that this will help to stabilize a context. but if i can jump in here, that, that theory and kind of,

i guess you could argue, has been tested in some areas despite foreign forces. despite the un peacekeeping mission. in molly, in new jeron became fasfa. we've seen some kind of ball string, even of local military forces, and yet over the past year has gone up not down. i mean, is this theory really working on funding mental challenge is really being addressed? well, it is, it is a fairly simple theory of change though the issue has, has never said we will supply military material and then peace and security will happen. the concept is to work through an integrated or comprehensive approach that weapons one part of the corporation. the other part is related to base building related to many darian assistance development, political support for electoral processes, etc. and their race,

the expectation that over time this will result in stability and peace. now if can it's done shows that the theory of change is really very simplistic and does not work. however, one also need to recognize that in certain context, like liberia, also sierra leone, the broach has helped to stabilize. now, this was not through the you, there were the u. k. was very pressing in this regard, provided also military support to do 2 forces. but the example of i've done is done now clearly shows that this, this theory is, is unlikely to work for a big country like my li with huge areas that can not be controlled. busy where also non state actors extremist groups have enough space to hide. ready so when you,

i'm glad you made that comparison. so when you look at some areas where this theory we can call it has worked somewhat to other places like have kind of stand, as you mentioned, where hasn't, what has been the key difference? how will this facility succeed where foreign forces have failed in other areas like afghan this time? well, there is an argument that the e u has provided each member states as well as your missions, have provided a training support to military actors through soldiers, arm they soldiers have then no little material to also operate. so the situation has occurred that these actors were drained, but were unable to act upon what they had been trained with. now, this then true means that the

countries try to take over more ownership of their security situation and all allow also the you to withdraw with the troops. so this is, this is part of the concept. and as i said, it has not worked. in the case of a gun is done. molly, nice air and booking are fun. so with very different contexts are unlikely to get stabilized similar to what has happened in the right light beer library, ontario. and for example, because the last of the area as mentioned, allows these data, right? i got off this question, we're going to look at from this effect of how much of it has to do as well, wave countering china and russia. there is a geopolitical dimension to it that's right on. and as mentioned earlier the

you try to find its place. trace also. busy to become more of a global actor. but the instrument as such, has no potential to counter whatever influences from china or russia ought to fill in the us, which has basically had no policy for africa under the trend administration. so it also a little bit about maybe making up for the perception that america is no longer a reliable partner for europe. is that part of this? well, yeah, this, this place, this place into it clearly and that the e u is also where the u. member states, one needs to underline here, are aware that more needs to be done by europe, and that more responsibility needs to be taken. so this,

this clearly blaze into this. but as i said, the amount of resources which have been allocated to the european based facility are rather minimal. however, it opens a door for potentially more support in the future after the current 7 year budget cycle of the year is over. and thereby also opening more potential for more military support in the future. so as mentioned at the very beginning, it's a paradigm shift. and this, and this is, this is really in relational, adore a changing world order. and also the you trying to be fun to become more vocal to be more active internationally trying to find its place. all right, vocal thanks very much for analyzing the paradigm shift in good talking to you. ok . thank you. bye bye. the. the un says there's no

longer any doubt human activity is warming, the planet, and some of that impact is irreversible greece, turkey, much of the western us all experience, some of their worst wildfires in history. extreme weather events will continue to worse and costing billions and displacing millions. our environment editor nick clark has more from man. i've got in turkey while wildfires have caused widespread destruction. it is an apocalyptic seen skeletal trees with a fruit chard, as they hang. no one has ever seen fires like these before. they came with little warning, leaving people stunned with everything lost. even the dead went sped from the flames. home and half fit now only for demolition. these are the consequences. evan overheated world. the children's playground melted by the

intense heat. those who played here may well wonder what the future holds in this changing world. this will be the future, say the scientists, unless something is done. and this, they say is just a hint of what could be to come humanity, his lit the fuse and humanity was put it out before it's too late. i talked to 65 year old pharma below, couldn't. he tells me the only clothes he has left. other ones he standing in his head. we lost everything. there is nothing left of our house. if the same folly neighbors 0, the tractor, the ho, the shovel, every tool we had is gone. everything we built up in 70 to 80 years is gone. i have all of it disappeared in 20 minutes. it came and went like a c wave from turkey to grease its been a furious fight against the fires. extraordinary temperatures sparking the tragedy

in all these regions. wildfires happen every year, but never on this scale. it's the same in northern california where fires blazing over hundreds of square kilometers, destroying communities across the world, extreme weather is building and ferocity just last month. unprecedented floods in germany, in belgian devastated towns and swept away roads. more than 200 were killed, with many, still missing. and the science shows it's fossil fuel emissions that have made these events worse. manmade climate change. the truth is, this is a story that people don't really want to hear the reality, perhaps too much for people to deal with to take in. but what's becoming increasingly clear, is it the consequences of doing nothing at all? is infinitely worse for everybody who's john dugan has been helping with the rescue effort. here in southern turkey, he says the fires were sparked after months of drought followed by an intense heat wave unto lays famous for its long lasting rain. and

the last few there is no, is in this year in mos in opera on the may, there was clearly no sign of rain and this is the result. and then just like that, as we're heading back from filming. and the sky opens a deluge of rain cascades down darcy apart. land the rain, just as unpredictable as the fires in 2 weeks too late. central banks and spend trillions of dollars buying up bonds in a process called quantitative easing. but trying to make sure the financial system and economy won't completely collapse due to the pandemic. it's borne out of the experience and lessons learned from the north atlantic financial crisis of 2008. well now central banks acknowledge they getting close to the point of having to

withdraw emergency funding. the last time they attempted to do that, markets went through what came to be known as a taper tantrum that was back in 2013. many critics said vest is become hooked on cheap money and most of the i've gone into inflating stock markets in house prices. well, that process also increases inequality of right now there are concerns that a central banks don't withdraw funding. it could drive up inflation. despite central banks claiming to be independent, some like the bank of england being accused of funding government deficits. by the end of 2021, the bank will own $875000000000.00 pounds of government bonds, of 40 percent of national debt. now for all that, that central banks own and for printing, currency earn money. the bank of england handed almost $700000000.00 to the government each year. as nothing compared to the bank of japan, though it made

a profit of $11000000000.00 on its holding of government death and stocks. it owns 45 percent of the government's 13 trillion that mountain. the federal reserve cent, $88500000000.00 in profits to the us treasury in 2020 the feds balance sheets which includes government that doubled since 2019 to $8.00 trillion dollars. switzerland central bank made more than $47000000000.00 in the 1st 6 months of the year. a soaring u. s. equity prices pushed its reserves to more than one trillion swiss francs. while those oversize profits are all due to the unconventional practice central banks of adopted since the financial crisis. so let's dive into this with financial markets analyst kaya path to join us now live from london via skype. good. have you witnessed? kyra, so the bank of england would deny it was financing britain deficit. does that

really matter? thank you for having me. first and foremost. so monetary and fiscal policies have indeed become joined that the hip and looking at the numbers. we can see that the b o, e has absorbed most of that issue and by the government, does this matter? i think, yes, because the central banks by nature are indiscriminate buyers. they don't really look at the credit worthiness of the sure nor at the yields. and i think it will become even more important once the central banks start winding down the reason policies because there's just not enough buyers on the market. while center banks have been printing money without fee, you could say of a fear of inflation for a while once changing. now, i think the biggest change with this crisis is really the supply side distortions that we have not seen before. we are seeing this locations in the economy and as mentioned, distortion of the supply chains, especially in asia and in se, asia. what has changed now is that the supply chain disruptions are very hard to

control. moreover, we are seeing an emergence of area and frequent locked down in the manufacturing hope of southeast asia. and i think this is something central banks really have no control over to where, where do you think that's going to lead the world in central banks? it's hard to say, i think the central banks perhaps have base themselves in the corner. they are, seems to me just playing by day or seeing what's going to happen. and this is also then from the face policy or sort of being behind that curve when it comes to inflation management. my fear is however, that perhaps being behind the curve isn't the best policy. because once inflation expectations are heightened, it's very hard to say change consumer behaviors because consumers always adjust that where havior tends to be quite sticky for a long time. i'm glad you mentioned the fact that the fed chair is saying, hey, inflation is transitory. do you agree with them? it's the transitory at 1st, especially with the supply chain disruptions because the seem to be short lived.

but now when we see se asia and a lot of other asian countries, shinine a lot down again, i think the disruptions good last a bit longer. and moreover, the more sneaky inflation coming from the rentals. he's also a big, murky, especially with the what i told him of eviction now being hotly debated and sort of extend that in a way. so it's hard to say if it's going to be transitory. i think we are yet to see what's certain is that with any additional look down, consumer behavior is definitely going to change. and we are seeing this, for instance, with the savings rate that's still off the prevent me levels. oh, could it be the inflation is more nuanced the effects of spending being shifted away from services during the pandemic and locked down to now buying computers and home of the cetera for show during the lockdown, we saw a lot of pain up demand when he came to do or both with people had a lot of time and money and attendance. but i think that's now in the rear view. mendo we are seeing now increased demand for services with the reopening and sort

of being in the summer season. but what's important to note is that the services industry, especially those cyclical and reopening related services, are tiny compared to the urals. we're already seeing interest rates rise from turkey to brazil. when do you think that's going to catch on to the big for? i'm looking at market rates 2023 seems to be the likely year. however, i've mentioned before. busy we are seeing new variance emerging across the globe is now the dominant version, straight across major economy. so it's really hard to say, well we, where we're going to end up, let's say the 2nd half of 2021 and in 2022. perhaps related to that, we've seen chinese export growth unexpectedly slow in july, haven't we? while impulse also losing a bit of momentum? do you think that points to a slow down for the global economy in the scene? so we're seeing lockdown in asia. we are seeing the economy slowing down in europe

in the us. i think the 2nd half of the year definitely is gonna be more, more volatile. and i think the investor should be prepared for perhaps a correction in the markets or us, the likely lower you and with china's regulatory crack down on companies. do you think that's going to send money towards western stocks? you would hope so. so chinese government is taking very aggressive steps towards regulating different industries, whatever is from anti corruption to data privacy. perfect perspective, the timing is very interesting because it seems to coincide with the 100th anniversary of the ccp. what i think the chinese government is willing to take short term bay pain for the long term game. but the investors really need to be mindful of this increased regulatory risk. rodder, i should say, the regulatory res, casting brought to the foregrounds, and it just has to be factored in. but i think in general, china as well as emerging asia has become mullis investable. now with the u. s.

infrastructure bill slowly becoming a reality, it seems, washington is moving back to its regular sort of debt ceiling, fight our investors prepared for this. it really doesn't seem so doesn't, doesn't look, doesn't seem like investors are looking at the death stealing at all at this point . and the democrats are also taking quite bold here, not adding this very sensitive topic into the reconciliation process. i think there are hoping that perhaps there will be some sort of bipartisan solution. but that was the democrats trying to pass 3.5 trillion worth of anti poverty bill using part this on lines. i don't think the republicans have much incentives to sort of play along. so again, i think it's going to be september, especially the 30th of september deadline, and investors ought to be prepared, perhaps putting some dry powder on the site or perhaps decreasing their exposure to us equities. all right, wonderful. thanks so much talking to us. thank you. so much and that's all i show

for this week, but there's more for you online at al jazeera dot com slash ctc. that'll take you straight to the page, which has hire a few to catch up on for this edition of counting because i'm time is a down on the whole team here. thanks for joining us. news and al jazeera is next. ah, me, ah ah, ah, how many nukes there's too many new america had in many ways driven the arms race parties are much more like the british parties. now, there are fewer regulations to own a tiger than there are to own

a dog. how can this be happening? we take on us politics and, and that's the bottom line. if you were looking at this from the outside, you would really wonder what was going on, what, what is this is a religion that they have an in depth exploration of global capitalism on our obsession with economic growth. this is still the center of capitalism. there is no limit, i view myself as a capital artist we are trying to bake as well. and we don't want to be realistic in the well, we would rather have a fantasy. growing pains on al jazeera, embed, journalist and government panic. they didn't have the infrastructure they needed. they promised results in 5 days. but it's been a year examining. the headline. is this another potential flashpoint for conflicts voice is from different corner. every house here has someone who has made it to the top of ever. it's not just one,

but several time program that is not punitive. you today on allergic ah, taliban takes control of us can install the presidential palace off to seizing the capital over running most of the country. president national, gone a fleet to as back is down office government collapses. he says it wants to avoid bloodshed ah, from doha. also coming up a ton of.