minorities of conscience across the world. you take it out to 0. bring you the news and current affairs. ah ah. hello, i'm barbara, sir in london. these are the top stories on al jazeera leaders of some of the world's most powerful countries are engaged in a whirlwind of diplomacy to diffuse the stand off over ukraine. russia denies its planning to invade its neighbor, despite the ploy more than 100000 troops on ukraine's borders. moscow is also accused the west of ignoring its demands. while for the last few hours, frances president manuel mccrory has been holding talk for letting me put in before heading to ukraine on tuesday. and earlier in chrome said, europe and russia need what he called a useful response. the end,

the stand off put in his hail frances efforts to resolve the security crisis or such a body has more now from the russian capital. this is the highest ranking official . we had to visit moscow to have a face to face meeting with vladimir putin. and this was of course, at the request of the russian president. he was very keen to have the french president visit moscow. and they spoke on the phone 3 times last week. and when he went to met for the 1st time face to face since the summer of 2019 vladimir prudent was clearly very happy to see my new micron. and he said that they share ice and common security concerns. and the french president also had said prior to this meeting, not to expect any major breakthroughs, but rather at, to open up dialogue with the russians to try and understand better their security concerns. i think the french president was trying to limit expectations, but also very much trying to position himself as a peacemaker and making this trip to show that he's very much at the forefront of

trying to de escalate tensions. of course you have to remember there are presidential elections coming up in france in april, so it serves to his domestic audience as well. this very grand diplomatic gesture for him to make was trip. just at the sure out number of hours that the 2 men have been speaking, we expect to be some kind of understanding moving forward. both sides have said they are looking for discussions on how to move forward and to de escalate tensions . and we'll see whether or not the french president has been able to manage that during his trip. while the crisis is also dominating talks between us president joe biden, and the german chancellor, all of schultz add the white house right now, fight and says that they're working in lock step to deter russian aggression in europe. the u. s. ones sholtes to spoke a crucial gas pipeline project between germany and russia. if ukraine has invaded european union, high representative of foreign affairs, joseph burrell has warned that the crisis will have a big impact on gas consumers. and your g shoes are central to this gracious

because russia doesn't have she, they do use this significant energy supply to youtube. ash, a leverage for geopolitical gauge and getting gas prices in european union had been increasing from $6.00 to $10.00 times higher than they where a year ago. then times higher than one years ago. this has a major impact on consumers and on the computer devotee of the economy. emergency rescuers are struggling to reach parts of madagascar ravaged by cycling bazzi die which made land full on saturday. saturday battering the eastern coastline. at least 20 people have died and tens of thousands have been displaced with rising river lentils, threatening to force even more people from their homes. israel's police chief has

asked for an independent inquiry after reports that investigator has used the controversial pegasus spyware to target citizens. colby shopped, eyes says the investigation is needed to restore the public's trust. that's abtar and is really newspaper reported that police tracked several prominent figures using the hacking software. a you and report says north korea has stolen tens of millions of dollars of crypto currency to help finance its nuclear and ballistic missile program. it says pyongyang stall more than $50000000.00 through cyber attacks between 2020 and last year. a separate study indicates as much as $400000000.00 may have been stolen. north korea conducted 9 ballistic missile tests just last month. well, those are the top stories that stay with us. money bots is next. i'll be back with more news in half an hour. see you then. bye bye. ah

ah, the 5th of february, 2018 at 3 pm local time. the dow jones plummets as though the stock exchange has been hit by lightning. it loses more than $1500.00 points in a matter of minutes. never before in the history of the index of american stalks law so much in a single day. a new york is not alone. the collapse spreads like wildfire to frankfort, sidney, tokyo panic. he wraps. nobody knows what has caused this disaster. there is no discernible real world economy reason. there are no new economic predictions, no unemployment statistics. the only explanation that is offered sounds strange. apparently the trading computers were too fast.

ah, how is it possible that a fringe development of automated stock trading yesterday, nomic acceleration of computer systems, could almost cause a world wide financial crisis in berlin? guess how chick campaigns for more transparency in the financial sector than the one on the store for grants? 100 for your average of chevy is this neatness, decent, hazardous headless while if man, be us to live, was in music, couldn't antarctica 100. hm. does any of the other truck out to a 1000? when the veterans, marseilles, the unit design, he'd yolande to about a 1000 us official privately. essentially high frequency trading significantly

reduces the time that a stock is held before being sold. sometimes it's just milliseconds or even microseconds. high frequency trading is the opposite of long term investment, which is what stock market we're actually designed for. access to stocks also became a lot faster. the quality of the investment was no longer the deciding motivation for buying or selling. all that mattered was who could react the fastest high frequency trading is performed exclusively by computers, not people. these computer systems are completely autonomous. essentially, they are warring box money box. high frequency traders place their computers as close as possible to stock exchange computer systems. a protest known as co location proximity and high speed connections are a deciding factor. for example, a pension fund wants to buy 600000 shares at a price of $9.50. their order goes out to various stock exchanges. when the order

arrives at the 1st stock exchange, a high frequency trading system detected and immediately places its own orders for the same shares with all the other exchanges faster than the pension fund cap. thanks to its high speed systems, the high frequency trader is able to buy up all the shares at a price of $9.50, then sell them to the pension fund for $9.51, the high frequency trader, his own $6000.00 within a few milliseconds and with no attached risk. ah, i frequency trade as do not have to be active in the markets permanently. their advantage is most effective when crises, disasters, or political decisions cause strong cries, fluctuations. essentially

high frequency trade has benefit from crises and constantly waiting for the next one to occur. in the beginning, the intention was to use greater predictability and foster infrastructure to increase the stability of financial markets. in fact, the opposite has occurred. automation has made them more vulnerable. after all, there is no electronic system that cannot be hat. ah hm. i had a book. you were trading engine was running in frankfurt remotely, by it was being controlled from london. ah, what happened in this particular case is that in internet related outage caused us to lose control over the engine. that was in frankfort.

and i remember for a couple hours she passed, trying to validate that the engine itself was, i'm demobilized. ah, it turned out my engine was actually live i had actually designed feature that said if you break connection with the mother ship, stop trading. but that feature had a parameter and it was off. i had this engine, it was basically a trade in it could, a last, you know, could, was $30000000.00 rate. it lost a few $100000.00. but it was, i was a terrifying experience. i'm bo derek is a trader and come

a software developer in stanford, connecticut. i'm bodeo played an important role in the development of automated stock trading. his idea of using computer algorithms to process information as efficiently as possible is one of the foundations of modern stock trading. a 2nd prerequisite for success is a high speed data connection. the french businessman steph antique knows all about fast data transfer. his company's mckay brothers and quincy data are based in paris and california and operate the data connection between new york and chicago. the homes of america's most important stock exchanges. stiff antique and heim bolduc a players in

a global battle for the best computer software and the fastest data networks. this contest began a long time ago in the casinos of las vegas. at the end of the 1960s, a new generation of scientists recognizes that it is possible to use computers to increase its luck at the tables. pioneers, like edward thought, and blair, how develop algorithms that allow them to count cards when playing black jack and to make predictions doin pharma takes a different approach. in the 1970s, the physicist makes roulette his field of expertise. farmer and his team begin to play, or they soon discover that it's possible to predict the cost of the ball if one knows its current position and speed. and then we embarked on building

a computer that will allow us to do this. now this was lighting 76 when we got started. so you have to realize at that point, there were no personal computers or anything like that. in pennsylvania's allegheny mountains, stiff antiques company is working on making the fastest data connection between new york and chicago even faster. no, he's also considered more. i sampler edema father in feeble said feeble our own toilet data center ever. it up um yeah. to allow he just kinda had you one moment that had you already load law farm as your e. o could the don the senior had yuki solve? were ye just k? no, couture. c, horseshoe law is separated the maneuver and energy sac. yeah. or can't hide smoke effect it. don't say repetitious. killer pushing to or if way, absolutely more. afy to live on lashanda,

who are well in shore. so the gather snell. pauper dupree chicago risk of new jersey. she or mildew ashanti domain club. so i was one to fail or counteract. modest she is he empty, pu? come laska yan, cause to fall mina on. do i sorry to was donder eluted that he was told that is who was kid? this is derrick also don't know. look on that. he will stand to look a sasha, a car they are leaky. mom had use you into an algorithm, is a rule for answering questions. algorithms provide the foundation for farmers bed, said the casino. oh no computer is required to process algorithms quickly. the time however, these are large, expensive, and slower. this begins to change in the mid 19 seventy's

and the 6502 microprocessor had just come out. same microprocessor that the guys from apple used to build the apple computer doing thomas team designs a computer around the same process or the initial version of it was under the armpit. there was a pack of double lay batteries under the other arm, pit switches and the shoes wires running up and down an antenna around the shoulders. the antenna would transmit the signal to a 2nd person who would then placed the baths from the moment, the croupier spins the ball until the ball until the basket closed. there is typically about 10 seconds to pass 10 to 15 seconds on. so we had to be able to take the data for the rotor and of all and get the

prediction 4 to 6 seconds ahead of when the vents got closed. so that the better had enough time to reach over and placed sam. so we had to have the prediction coming pretty fast. the computer we had render it slow by modern standards. but because it was, you know, carefully coded machine code. we were able to get the answer out. in a matter of a fraction, a 2nd don't pharmacy computer became the stuff at legends. it wasn't just any computer. it was the 1st computer built into closing, while steve jobs and steve wozniak, were creating the original desktop computer doin farmer was building one in a shoe. farmer himself becomes an icon for people working in the field of computer based predictions. farmer and his team eventually decide that the winnings at the

roulette wheel do not justify the risks they are taking. ah, they returned to more serious scientific fields. farmer finds himself at los alamos, where he investigates methods of predicting the weather, among other things. then the world changes, or at least the world of money allocation, financial desk, and they are canton bill harley. i lost only one word to describe was happening and that is doug jones, industrial average is almost $200.00 points. it is down by a $191.00. had been out of all right now for you. 345000000 shares available day on wall street. the dow jones industrial average right now down 271.53 point. putting the down below 2000 more now right now in 1975 point,

when during the 1987 stock market crash, investors attempt to dump their shares in a panic. they brokers eventually begin to ignore the frantically ringing telephones . the authorities decide that more trading should be left to computers, as people simply are not reliable enough. the new york stock exchange remains america's largest, but chicago becomes the center of new financial technologies. the whole trading company is one of the pioneers in the field of big data and market addictions. in the early 19 ninety's, the company is considered a measuring stick by many traders like doin pharma whole trading companies, found a black hole had originally put his mathematical skills to the test in las vegas

where he counted cards of the blackjack tables in the 1970s he is one of the 1st to recognize the potential of automated financial trading. in 1985, he found his own company in chicago, the center of us derivative trading i'm bow deck joins holstein in september of 1997. quantitative analysts are also in high demand in europe, the best emerged from the universities in paris, mathematician so welcome additions to the market. as our physicists like steph, antique, allie parker, sherwood street, totally wrongfully on bush. additionally, shell,

he don't, j seed medea measure of the felon. melissa of hasa. it had been p. allie parker shade, elmore on bush. it, if he can, i don't, he's really windy shows. q g, a piece of the crafter, secure. li, metty, metal penal shayla. vive don't you know of a d? is this base the data if he's the catch you lucky shortest if he are making shock and is active, he's the controller. he said damper. he did the clarity, buffet, not yet, but the question le bosa. unique want is up what she marshall did. good. i bosa me . see, come m under. shall kayla been people he bow a plan. go to a bunker, a key fondly did he thee on betty ah inactivity too much of a tremulous looks. alman said sitting there is hidden that if he's here of her food

whiskey they keep on out of harry t me t. she's a mom, jennifer. she po process how he are a multi days activity. the project media though of me bell while we were doing a roulette project, our friend rob shaw came over and said, i just found out about this amazing thing of chaos. so we went up to lab and we looked at the simulation on the ala computer and we were just amazed because you could see that even though there were deterministic equations with making this random looking set of patterns on the screen. and so we got completely fascinated by that and we on we created algorithms for finding identifying patterns in nature that are described by chaotic dynamics. i'm

doin ca devotes himself to studying pappy's. the tell our predictions to be made. one of his areas of study is meteorology, pharma and his team in los alamos, are able to expand the time frame for precise hurricane predictions from 2 days to 5. this gives emergency services, valuable time to evacuate people in danger. in every time i would talk about this, somebody would say, why have you play the stock market? and so i kind of chart saying, no mm me. while i heard about the efficient market hypothesis, which says that stock market, sorry, inherently unpredictable, was a very popular theory at the time. i didn't believe. so. normally i once again left, he left his job at university of illinois, and i left my job. it was alamos and we gathered with some other younger scientists

business guy and started a company to use computers to protect the stock market. this was in 1991 and we called herself critical. mm. ah. those are those if he does that, a boy. yeah. i think most 3, the reason i'm not a lisa my lack of a year to hope i see about his id not to have the fund is any good faith ala carte, that she wants. she still continued. if i move doctor, no, no, no. the 3rd tech count in math, nor in yup, feel or to come feel reacted. go to the lab. rosser, very, when the hour to day buffy you along on a ball you the long on about him done. the perry stock exchange is not the only empty shell. even wall street is little more than

a movie set these days. this interaction data center is located in an anonymous building on the outskirts of vienna, austria. the company has 13 such co location centers throughout europe. more than $100.00 internet service providers. 5 internet exchanges and important cloud services have computer stationed here. as does vienna stock exchange, the exact location is kept secret, and there is no official confirmation of the presence of stock exchange computers. we secure the ski shifts my biggest infection behaved, is the state and sent them an an impact norton bond from the internet. 9 barton opium, so plugs here on these are a few more community of interests reviewers in their men optimize. awesome,

awesome. so as, as to here for being with yellows and standard on to me, man. meet the man that one off the mark eureka shift out because of time is of the essence as a gift. many characters we've an image to give all the love instead this a comp nav arkenberg to him millisecond on does his feel ownership figure shapes more bailiff off on gaming? is him so? finance this less than guns for use of it. for this reason, the vienna stock exchange is most important server over which deals are made, isn't located in vienna at all. it is in frankfort. in the race to buy or sell. it's important to be as close as possible to the main service of the main stock exchange. proximity is time and time is money in the 1990 s. u. s. trading is divided between the new york stock exchange on wall

street with its traditional trading floor. and it's traditional companies such as ibm and general motors and the electronic stock exchange. nasdaq m b p markets actually went electronic 1st and the many of us who were part of that transition from florida electronic markets we kind of were groaned in the european markets 1st. and then we came back to the states. matter of fact, your x is quite interesting to me looking back because it was the 1st exchange we're where i found, you know, basically a cheat to exploit. ah, i got a lot of credit and he got a big promotion for finding a cheat on the, on the euro exchange to get prices faster than we should of. and i'm now years later when i hit the front page of the wall street journal for my whistle blowing against direct edge,

i'm the former colleague from hall. i contacted me by email and said, hey, what you turned on a direct edge is very similar to what we were doing on your fax and i. i've been whistleblower for a year and i had not really acknowledged that i was guilty of the same type of thing that i had turned in. you know, i just had an acquainted the to and it made me realize how difficult it is for people to really see what they're doing in our industry. when we found it, particularly, we didn't know anything about financial markets. our method was to look for patterns in the data and, and when we found those patterns, then we would design a trading system that would make bats based on the patterns.

we learned some lessons from a left. one lesson was that you've got that big. the stock market also to make a good model. you don't have to create very well if you're right 55 percent of the time. if you make enough doubts, then you can make pretty good profit. and unlike roulette, where if you start, when they can just throw you out or threaten to break any caps, ah, the stock market, they don't kick you out for winning. so we actually took us about 5 years before we really found something that genuinely worked in a consistent way. once we did that, it worked very well and i so production, company traded subsequently for about 25 years. we ended up selling it to you b us in about $2600000000.00.

we know what's happening in our region. we know how to get to places that others and all. if i, as i said, i'm going the way that you tell the story is what can make a difference. born into different worlds. but creatively and philosophically aligned algebra world explores the surprisingly between the egyptian islamic scholar mohammed abdul and russia. novelist via toasty in the french egyptian surrealists all the way i need to think is answer me on al jazeera michael. good. he is a

sure documentary from around the world about those who will give up their fight for justice out. is there a select justice lou? hello, i'm barbara sarah in london with the top stories on al jazeera watch. leaders of some of the world's most powerful countries are engaged in a whirlwind of diplomacy to diffuse the stand off over ukraine, france as president. manuel micron has been holding talks with vladimir putin before heading to ukraine on tuesday. but con, says, europe and russia need what he called the useful response. the end, the standoff put in his hail france's efforts to resolve the security crisis and says both leaders had common concerns over the situation. the crisis is also dominating talks between u. s. president, jo, by them in german chancellor,

all of shorts at the white house. right now. i don't says they're working in lock step to deter russian aggression in europe. the u. s. ones shoulds to stop a crucial gas pipeline project between germany and russia. if ukraine is invaded, european union high representative of foreign affairs, joseph burrell, has warned that the crisis will have a big impact on gas consumers. and your g shoes are central to this gracious, because russia doesn't hesitate to use this significant. and as you supplies to youtube, ash, a leverage for geopolitical gauge and wearing gas prices in european union had been increasing from $6.00 to $10.00 times higher than they where a year ago. then times higher than one year ago. this has a major impact on consumers. and on the computer devotee of the economy,

emergency rescuers are struggling to reach parts of madagascar ravaged by cycling, but said i which made landfill on saturday battering the eastern coastline. at least 20 people have died and tens of thousands have been displaced. is, was police chief has asked for an independent inquiry after reports that investigators use the controversial pegasus spyware to target citizens. coffee shop tie says the investigation is needed to restore the public trust. that's after and is really newspaper reported that police tracked several prominent figures using the hacking software. well, those are the top stores. i'm going to have more and all of them on the al jazeera news hour, i'll have that in just under half an hour. stay with us, money bought continues. next, thanks for watching. as he says, new speed is not only essential

when operating a stock exchange. investors and traders also have to react quickly. those who are 1st to recognize price differences between stock exchanges can use this advantage to make a lot of money. at the turn of the millennium, the large banks realized that they are falling behind the competition. in 1999 goldman sachs buys the whole trading company for half a $1000000000.00. hall was supposed to be become like the backbone of you've of goldman and really didn't it. in it really was a very, very different culture goldman than, than i haul him and many of my people i related to and didn't feel at home dissatisfied with the investment banks, business practices, a number of former whole trading company employees leave goldman sachs in 2003 bodeo joins u. b. s, which is planning to open

a new trading floor in stamford. he is tasked with creating the infrastructure from the ground up. i remember the 1st time i heard about i frequency traders. i the was an elevator with a person who's very, very senior in the business now. and he was complaining about how they would interfere with, you know, the, the trading profits of the desk he was running. but that they didn't make that much money. and i was, that was the so interesting is that the strategy class made a huge amount of volume, but not much money at all. and we were like, why would people do that? you know, what, why would you do all that work? and nice makes such a small profit. ah, many was surprised by the rise of high frequency trading. the financial journalist jennifer niel kept a close eye on developments from the very beginning of

national her. and he thought you might often crispy nausea to live for keyson. the media if su hershey spaces lima, vienna gassett for the higher ed took a bunch of combat climate doors. her. does it a quorum? federal versus was he lost the hapless gen highly. if it goes he did from i see that he got his get was them nice. yeah. and molested if all the help it live on our thought alpha i look that more and on the mean. yes, it mixed up and get cookie. and i the whole thing off yet, can you he stuff more from may of been it. he said than a lot. i scarce insect of laser dog level or did he say sorry, marcy asked my mom a darn big are the when it is all day i stare pneumonia her if minute the myself like is there anything else while the explosion of high frequency trading in the early 2 thousands continues. heim bo deck is developing new trading strategies for

his employer, u. b. s. he calls it size game. his algorithm follows a simple logic. because large orders are given preferential treatment by the stock market. the money bought dynamically increases its order to remain at the forefront and push out competitors. however, there is a catch. he has to ensure that the artificially inflated order never actually takes place. if you put huge orders out there of that size and they all trade, you will go pretty much instantaneously. belly up. ok, i won't go into details, but it happened. and it's a game of chicken in a way. we had to write algorithms that said, if you treated 30000 contracts, you don't want a trailer 30000 contracts. so try to dump them immediately on another exchange

where some other market makers still quoting 30000 x. so we, we created all these, this algorithm in this kind of, we're in terms of getting the largest, what we call participation rate. it turned into this horrible game of chicken and hot potato, where you quoted more than you wanted. and then you really should enter in any responsible manner. and then if you actually got hit, which happened you needed to dump it on other people before. um, before they realized that the potato was coming, it was as stupid as you can get. it was, it was a stupid ah, so the algorithm that i designed was powerful enough that everybody else had to match it. and that actually brought down the market system, the market data system of the u. s. option market to the brink of like collapse

basically. oh so cool for me. i was like it just like literally just love this i. i could see how many months it took for another firm to realize what i was doing and tried and true same algorithm. and it took 3 years for 7 firms to figure it out. i'm bo deck size game turns him into a financial rockstar. however, he knows that he can't play the game forever. it is time to strike out on his own. i walked out with the team. and i set up trading machines reserved. ah, 2007. it was sir. designed to be you know, a ferrari from an independent for to me or for me were, was really a dream is to be independent. but then realize it was going to turn into an odyssey

boat ag leaves u b. s. at a time when the stock market in the usa and europe are changing dramatically. part of this is due to the high frequency traders. the large investment funds are angered by the fact that the small flexible high speed traders are constantly snapping at the heels. the banks begin to set up internal exchanges, which allow trades to take place in secrecy. more than 40 of the so called dark pools are established as alternatives to the 13 regular stock exchanges in the usa alone. the movement of investors into the dark pools forces the stock market to cater to the high frequency traders. and they soon make up the majority of traits. some estimates put the number as high as 70 percent before long. the banks themselves cannot resist the temptation of the high

frequency money and open up the dark pools to high frequency trading. speed is all important. le ledger saffo, she'd levy does delineate when you're chaudry ah, or v all d me cause gone or should left desert eddie meal we bought before the prices we launched, basically into it. we traded through it, we scaled out all of our algorithms and membership, some major changes pretty much hit when i call footprint. and we went to a half percent hear us marketer pretty much overnight. and i things were going very well until may 2009 when things mysteriously stopped stopped working

we built the system, it would basically measure that the trades that we intended to do were in fact profitable. and that were the trades of the machine should be doing over the period of 2009. and i started seeing and changes. ah, okay, let's take you to the white house. now the u. s. president has been meeting with the german chancellor left sholtes. obviously, about the situation at between ukraine and russia. let's listening. we had an opportunity to have a very productive meeting. i think our staffs wonder whether we're going to let them in at all. we spent the 1st half hour more talking together and i had the spirit of very, very useful, meaty, one of the things that struck me was the shared values and that shape how each of

us approaches leadership a mo, them the foundational commitment to the dignity of workers and the need to treat all people with respect. so i enjoyed speaking with you all and i know we're going together. we'll continue to strengthen and deepen our alliance. and the extensive partnership between germany and the united states. of course, print to the top of our janitor day was our united approach to deterring russia's threats against ukraine and the longstanding principles of rural based international order that we spent most of our time talking about german in the united states. together the allies and partners are working closely together to pursue diplomatic resolutions of the situation. and diplomacy is the very best way forward for all sides. we both agree, including best. so for russia in our view, and we have made it very clear, we're ready to continue talks in good faith with russia. germany has also been

a leader in pushing de escalation of tensions and encouraging dialogue and with through the normandy format. but if russia makes a choice to further invade ukraine, we are jointly ready and all of nato is ready today. the chance and i discussed are close cooperation, develop strong present package of sanctions that are clearly demonstrate international resolve and imposed swift and severe consequences if russia violates ukraine sovereignty and his territorial integrity. and i want to thank germany and i, and all of our other partners in eastern europe, in the european union for their work in this united effort. we are in agreement that it can not be business as usual. if russia further invades. we also discussed our shared commitment to nato's article 5 responsibilities and reassurance of our

eastern flank allies were united and that as well. already the united states is sending troops to reinforce the alliance. and i want to thank the chancellor of germany for hosting additional us forces and for the longstanding hospitality to our women and men in uniform. we also discussed the challenge of are facing to the international order from china, along with russia and other competitors that are pursuing more liberal futures. we've agreed to germany, united states will continue to work together to ensure that the roles and principles governing emerging technologies are geared to advanced freedom of opportunity, not refreshing or authoritarianism. we also reaffirmed our commitment to completing the work of integrating the western balkans into the european institutions and finally realize the europe that is whole free and at peace with germany holding the

presidency of the g 7. we also talked about how that form can harness the world's leading democracies to advance a robust agenda of the global on global challenges from ending the pandemic to addressing climate change. so the bottom line is, is whether as allies in nato partners through the european union, as leaders of the g 7, g, 20, or through our strong bilateral relationship. german and united states are close friends and reliable partners. and we can count on one another. there is no issue of global importance where germany and united states are not working together, strength to strength, and applying and amplifying our efforts together. so, and thank you all for making the journey today. and i look forward to being the 1st of many opportunities we can spend together beginning this meeting and throughout the rest of the year and the rest of your time. so thank you. welcome. flores,

yours and don quinton laughlin, donaldson. why nozzles? good afternoon from my side as well with us here. i'm very grateful that we had the opportunity to talk in much detail today and that i was able to make my 1st official visit here. and we also could talk about the important questions that we're dealing with today. we are in a very difficult situation. and it is a good thing that joe and i were able to discuss what we need to do in this difficult context here. of course, there is a military threat in ukraine against ukraine. we cannot be for the remain silent on that. we see the number of freshman troops along the ukrainian border and that is a serious threat to the european security. and this is why it is important that we act together, that we stand together and that we do what is necessary chickamauga, it is important that will allies the u. s. and germany. the concept longer should

partner the trans atlantic partnership between the u. s. than europe, nato minds on disclosures organ fades, the same thing speak with one voice and do things together. and we made it very clear if there was a military aggression against ukraine. this will entail severe consequences that we agreed upon together with severe sanctions that we have worked on together. so that will be a high price for russia from this is a very clear message. everybody has understood it, and i think this message has been made clear again and again so that even russia has understood the message. now, what is important that we also intensively worked on the bus, preparing possible sanctions to get them fun. we don't want to start the ones are there is a military aggression against ukraine. mind we have prepared a reaction that will help us to react swiftly if needed. and we'll, we'll do that at the same time. it is important to you all diplomatic means we have and i'm very glad was about your one of the great,

this is going to be dr. move forward together. especially though bilateral talks between the us and russia involved. and of course, the talks that we have agreed upon within the nato russia format. this is also important also because rush, i need to understand that nato stands together and that nato has prepared after so many years that have not been a new talks in this format. so it is a good sign that they are happening now. of course, we have controversially made for them, but it is important that we talk, and the same is true for the i with the with well, we need to discover about security in europe. this is also a progress as the tire or some, as it may be, and one room. so we have not yet reached any very substantial conclusion set, but it is good to see that this form. it plays a role now, and the same is true for the talks between ukraine or russia, france and germany, the normandy formative, and we have this appointment, but we haven't been able to really use it in

a productive way over the last few years. so now we have come back to that format, we're having tough discussions in that format. and that shows that there are ways that will lead a lot of this difficult situation. and this dual track approach of clear announcements with regard to sanctions that will be taken if there is a military aggression and at the same time, full mouth and keeping all dialogue from it's open. i think this is the most promising strategy one can have in mind, and that is what we're doing together and was then side by side. in this approach, we also talked about many other topics that are important for us today, especially when it comes to the g 7 presidency of the federal republic of germany. we will work closely as strong economy is strong if democracy is present and we also therefore have a special mandate, a to contribute to co. he's in the world wide. and part of this is that we continue to everything we can to make sure that the citizens of the world can be very in. it

had not only in our rich countries, indeed, but also in countries in some lesson. what people would love to have the vaccine, but i don't have access yet. and these are initiatives that we have carried out together and that are of that most importance world wide. the same is true him for fighting on loose manmade climate change. a big topic that keeps us all busy officially, even though it is not obvious that only a global solution can be a successful. because climate is a global thing. it doesn't stop at national borders through an industrialized nations. we have an important contribution to make. we have technological opportunities, economic opportunities, and how to use them in order to prepare a situation where we and others can enjoy prosperity without harming the climate. this is the big challenge. also the door door that we see as of one and others of great importance to us. so this is why we want to work together on this strategy

and use a climate club of g, a like minded p, paul, less than deb harkness english book. these are some of the topics we discussed and once again, the personal discussion we had and illustrates the excellent corporation between our countries, the strong bombed we have within our trans atlantic partnership and the fact that both countries can rely on each other. well, thank you very much, we won't take a couple question each you reuters and address for you guys. first question. thank you, mr. president. and i think you chance to call assault mister president. i have wanted to ask you about this nordstrom project that you've long opposed. you didn't mention it just now by name, nor did chance search holes. did you receive assurances from chancellor shoals today that germany will in fact pull the plug on this project?

and if russia invades ukraine and did you discuss what the definition of invasion could be and then tensor choice to find out the having. welcome to spanish, to take aside from ambiguity that was needed in terms of sanctions. whether it's and i just want to know whether you are in with what you're working on and what the us as well over a need to finalize your wrist. and we're going and as a, as a dispute, is that one that's going out when you're not really saying well, or is that just an extra use with, for me maybe to not support this with measures? let me answer this 1st question 1st. if germany, if, if russia invades that means tanks and troops crossing the,

the border of ukraine, again, then nor there will be we, there will be no longer a north steam to we, we will bring it into wood. what, how would you, how will you do that? exactly. since the product and control of the product is within germany's control, we will, i promise you will be able to do sir, dang, grill fargo. thank you very much for your last and i went to be absolutely clear. we have intensive lady prepared everything to be ready with the necessary sanctions . if there is a call, a military aggression against ukraine. and this is necessary. it is necessary that we do this in advance so that russia can clearly understand that these are far reaching, who severe measures loved to sleep. and it is part of the, this process that we do not spell out everything in public because russia could

understand that there might be even more to come from. and at the same time, it is very clear where was well prepared, well, been far reaching measures. we will take these measures together with our allies, with our, with our partners, with the u. s. usa fit a little more than that, and we will take all necessary steps if you can be sure that there won't be any measures in which we have him had with a differing approach. we will act together or jointly. it's a good idea to save to our american france. we will be united, we will act together, and we will take all the necessary steps and all the necessary steps would be done by all of us to get a will you commit to dated, turning off and pulling the plug and nordstrom through. you didn't mention if you haven't mentioned that, as i already said, we are acting together. we are absolutely united and we will not taking different

steps. we would do the same steps and they would be very, very hot to russia. and they showed them that you recognize so much more cancer the prison we have heard if you are, if you don't have said mister president, one question to you for us over the last of the clinical leave have exported have the weapons to ukraine and germany excludes that has only delivered $5000.00 helmets to ukraine. don't you think that they should act unanimously in this respect and germany as the strongest european native pot should also deliver heavy weapons to you. crane and ukraine have germany to do so. and

nod stream to i would also like to ask, don't you think would god for the fred because by russia, germany should already but we think it's position on, on trying to log in. and the question if i may in didn't, and then talking over the last few days and weeks has been severe criticism and austin from the us media and from congress as well. because of the germany about the reliability of germany as an ally that has been called into question. do you understand this criticism? is germany a reliable pop cancer from your point of view? and mr. chancellor, also a question to, you know, explain to you said all options around the table north through the, you're not mentioning old stream to buy name. and don't you think if you were just bell this out, you could win back trust unit with as a strong ally here for the us is no need to win back trust. he has

a complete trust of the united states. germany is arm one of our most important allies in the world. there is no doubt about germany's partnership with united states, none with regard to helping ukraine, one of the largest contributors financially to ukraine has been germany. germany has been in the forefront of making sure of providing economic assistance. you also asked the question, yes, so many i can't remember them all. ah, but doug, in terms of the u. s. media st. germany is not reliable. germany's completely reliable, completely totally, thoroughly reliable. i have no doubt about german noodle. yeah. didn't hang from wouldn't. ma did finally started concept united switching blandly trans atlantic partnership between germany and the earth. you can give them the direction of one of the permanent pillars of german policy. and it will be

relevant in the future as well, just as relevant. and this will be one of our top priorities. always auto, on behalf of nato. we are on the country. it was in continental europe that is recovering of items without making the largest contribution, financial means, and also military power. and we are the country and 00 wilson, that middle country by use a great chair. we're not fully internal, fully agree with the grass, who pays the biggest in the heart of a financial support to ukraine as oh, addison, and since 2014, about $2000000000.00 us dollars for children and zooms on choir right, bilateral support and within the you an additional $3800000000.00 that is made available says that banjo, financial means is to stabilize the ukrainian economy and we're willing to continue with that as a sort of contribution. so this is which was a very strong and unbreakable friendship between our 2 countries. part of this list

that with regard to the difficult situation, abby ukrainian will order due to the russian troops. we have made it very clear that i'm fed. we will unanimously act in terms of the function of mr. president, once again, got a question with regards to arms exports. do you think it is okay, that nato partners have different approaches here more to fly or, and not, not to once again, the, the actual, do you think the current positioning of germany with regard to the russian threat is okay. look, there is no doubt in america's mind that germany is an incredibly reliable ally and one of the leading physical powers in nato. number one. number 2, the notion that nord stream t would go nor stream to go forward with invasion by the russians. just

not going to happen. no more street journals for britain. thank you, mr. president. based on everything you know now, do you think that president putin will authorize an invasion of ukraine before the end of the winter? and what is your message to the roughly 30000 americans who are currently in ukraine? do you think that they should leave the country? well, i've had discussions, numerous discussions with the ah, with russians and particularly with i don't know that he's even made of i don't know that he knows what he's going to do. and i, i think he has to realize that it would be a gigantic mistake for him to move on ukraine. the impact on europe and the rest of the world would be devastating and you'd pay a heavy price. i have been very, very.