yet the faith of thousands of young people who've lost one or both parents does not seem to be the government's priority right now publishes just beginning to discuss in orphan's pension. but experts say in all inclusive program on a case by case basis is necessary that include psychological care for the children and relatives who can hopefully care for them and guarantees the children won't be separated. coma see me, how is it possible that one and a half years into the pandemic? we hadn't seen this crude reality before. thousands of children had lost their loved ones, not just in chile, but in the entire world. the fabric children are lucky to at least have their elderly grandparents were still recovering from the virus. but until now, no government agency has knocked on their door to offer help to see human al jazeera vibration. ah,

how are we going to headlines on al jazeera? couple airport is expected to remain closed for the rest of the day. following scenes of desperation on chaos, on monday, hundreds of off guns run onto the tarmac some clinging on the wing for u. s. military plane. several people fell to their death at the took off. charlotte bellis has an update from capital. i just got off the phone with the head of the civil aviation authority. he says that no flights are taking off and won't be taking off today. he also said that the nor people on the tom back these images from yesterday just showed how completely out of hand the situation got when thousands of people overwhelmed the airport. and president connie flayed late on sunday afternoon. now. basically with a security flag, the security forces army police just walked off the job and allowed all these

people to flood into the airport. desperate to try to get on flights out as they realized that the country was well, the afghan government was crumbling. years president joe biden has strongly defended his decision to pull out troops, saying an endless military deployment is no solution. he also said that us troops should not be expected to fight to an afghan forces were unwilling to do so themselves. heavy rains or lashing parts of haiti, there are reports of flooding in some areas that have already been hit by saturdays, devastating earthquake. there are fears that will hamper rescue efforts as the search for survivors continues through the night. more than 1400 people have died, many of the thousands of injured are being treated on the streets as hospitals are overwhelmed and those are the latest headlines on al jazeera counting. the cost is coming up next. thanks for watching. talk to, i'll just 0. we'll roll,

did you want the un to take and who stop to we listen, you see the whole infrastructure in guys being totally destroyed. we meet with global news makers and talk about the stories that matter on al jazeera. ah, hello, i'm sammy. a dan. this is counting the cost on al jazeera. look at the world of business and economics. this week, the multi 1000000000 dollar european piece on europe says it's the fine terrorism in africa. counter china and russia activists save and provide arms and training to dictate when central buying finance government spending. all they still independent

. tell you how much central banks night the day they own and where to blame for the climate emergency stream weather events will continue to work in costing billions and placed in a 1000000 ah, your opinion as long used it's economic palaces spread influence around the world efforts to create a european offense, falls of longitude 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's defense spending has been far behind. although europe biggest and 2nd biggest economy, germany and france rank 7 and 8 out of the 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 you set up battle 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 opinion, defense companies in washington as 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 on the

and isis aligned forces. frances intervention hasn't reduced the violence and it's only been able to continue operating in the house with the support of us satellites, and drone intelligence, strategic, lift, and add to a 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. by 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 the instrument that builds 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. busy 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 piece facility funds is with brussels or with the right ones. however, put this into perspective. ready if i just may add this, it is a, it is, it is a fund that has $5000000000.00 euros in total over a period of 7 years. now if you break this down on and if you see what commitments dara already some 2 to 2500000000 will. busy go into the african union support of amazon for somalia, the african union p support operation. now this remains this leave some 302400 1000000000 euro to support globally beeson security. just to give you a figure nigeria spend 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 you because there is a feeling that the issue needs to find its position and also internationally that they have been experiences certainly as of 2000 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 could jump in here, 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, 5 has gone up, not down. i mean, is this theory really working off of the mental challenge is really being addressed?

well, it is, it is a fairly simple theory of change though the issue has, has never set. we will apply 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 african is done shows that the theory of change is really very simplistic and does not work . however, one also need to recognize that in certain contexts, like liberia, also sierra leone, the, a 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 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 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 to 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 group. so this is, this is part of the concept. and as i said, it has not worked. in the case of a dentist on monday, new share and booking are so with very different contexts,

are unlikely to get stabilized similar to what has happened in the right light beer library or serial own. for example, because the last one is of the area. as mentioned, allows these data, right, i got off this question, are going to look at from this effective, how much of it has to do as well with 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 to become more of a global actor. but the instrument as such has no potential to counter whatever influences from china or russia or 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? will this, this place this place into it clearly and that the e u is also and where the member states one needs to. ready underline here are aware that more needs to be done by europe, and that more responsibility needs to be taken. so this, this clearly plays into this. but as i said, the amount of resources which have been allocated to the european piece facility, 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,

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 planets, 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 their fruit shod 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 of an 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 farmer below couldn't. he tells me the only clothes he has left. other

ones, he standing in the area, we lost everything. there is nothing left of our house. if the same for our neighbors, 0, the tractor, the whole, the shovel, every tool we had is gone. everything we built up in 70 to 80 years is gone high, 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 its fossil fuel emissions that have made

these events worse. manmade climate change. the truth is, this is a story that people that 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 whose gen, 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 until lays famous for its long lasting rain. and the last few there is no e as 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 this happens. and the sky opens a deluge of rain cascades down dowsing apart,

land the rain just as unpredictable as the fires in 2 weeks too late. central bank. so 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. when 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 bank 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 the dat, central banks own and for printing currency, they 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 oversized profits are all due to the unconventional practices central banks have adopted since the financial crisis. so let's dive into this with financial markets analyst kaya pav, joins us now live from london via skype. good. have you with us? kyra. so 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've seen dislocations in economy and as mentioned, distortion, 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, of area of 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 policy 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 high, since it's very hard to say, change consumer behaviors because consumers always adjust that for 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 transit for a. do you agree with them? it's the transitory at 1st, especially with the supply chain disruption, because the seem to be short lived. but now when we see se asia and a lot of other asian countries such as china and the last down again, i think the disruptions good last a bit longer. and moreover, the more sticky inflation coming from the rentals is also a big, murky, especially with the more toward 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 above the present the next level. oh, could it be the inflation is more nuanced. the effects of spending being shifted away from services during the pandemic locked down to now buying computers and home offices, etc. for show during lockdown we saw a lot of pain stuff demand when he came to do, or both with people had a lot of time and money and had attend. but i think that's now in the rear view. mean though 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 that . you are bills. 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 think that market rates 2023 seems to be the likely year. however, i've mentioned before. busy we are seeing a new variance emerging across the globe size is now the adverse strain across

major economy. so it's really hard to say where 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 look downs in asia and we are seeing the economy slowing down in europe in the us. i think the 2nd half of the year definitely want to 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 letter 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 increase regulatory risk. rather, 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 less 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 debt ceiling at all at this point. and then chris 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 the front lines. i don't think the republicans have much incentives to sort of play along. so again, i think it's going to be volatile 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 equity. all right, wonderful. thanks so much talking to us. thank you so much and that's our show for this week, but there's more for you online that al jazeera dot com slash ctc. that'll take you straight to the page, which has me hire a few to catch up on for this edition of counting the cost i'm time is a down on the whole team here. thanks for joining us. the news and i'll just say era is next. ah bulgaria,

the poorest nation and the european union dropped by allegations of corruption, seemingly linked to the upper echelons of the country. political in the aim of our ruling class was to get the repeal money to europe in front of people in power investigation where the country goes from guerria at the crossroads on a more than 10 years after the global financial crisis. you've taken home more than $480000000.00. your companies now bankrupt our economies in the state of crisis. i have a very casey question. this is their last home, the us who held responsible. i will be fabulously wealthy and i will not take any price for it. thank you, lloyd. the man who still worked on al jazeera,

we understand the differences, minorities of conscious across the world. are you taking out era or bringing the news and current affairs? ah, ah, this is all 0, i'm daddy and obligated with a check on your world headlines. us president joe biden is confronting the biggest crisis of his presidency so far, and his 1st address after the taliban sees capital biden defended his decision to pull out troops and blame the afghan government and the military for the crisis from washington. here she hop regency joe biden attempted to keep public opinion focused on a promise kept up to 20 years. the u. s. was finally leaving gaston.