of being a member of the royal family and coming into what you did, doesn't understand what you went through and i do and i think you are coming out the other end and i wish you the best. >> thank you, piers. thank you very much. >> nice to see you again. >> that's it for us tonight. -- captions by vitac -- www.vitac.com hello, i'm monita rajpal at cnn london. here are the headlines this hour. turkish officials say at least 2,400 syrian refugees are living in temporary camps just inside turkey. some have gunshot wounds as well as other injuries. both turkey and lebanon are reporting an influx in people. its warplanes are targeting critical military capabilities that could be used to attack civilians.

the officials says this includes command and control centers that could be used to planning attacks but added that nato is not targeting individuals in lebanon. sorry, in libya. the operator of the stricken fukushima daiichi power plant will begin testing a crucial water treatment system today. tepco hopes the week-long trial will lead to the full decontamination of the massive amounts of radioactive water it's been using to cool down the plant's crippled nuclear reactors. those are the headlines. i'm monita rajpal in london. "world business today" starts right now. good morning from cnn london and a very happy friday to you, i'm nina dos santos, this is "world business today" and these are the top stories on june 10th. toyota veers towards a slum in profits as post-quake production suffers and the

strong yen squeezes exports. it's deadline day for the imf hopefuls. and we're putting the spotlight on cybercrime after a massive data breach forces citigroup to replace 100,000 credit cards. after six days of sinking, the u.s. and european equity markets were more buoyant on thursday thanks to american exports hitting record highs. while thursday delivered lucky number 7, let's see whether investors have that friday feeling today. so far in europe, the answer appears to be no. we're seeing red across the board in about an hour of trading. but do remember some of these indices did manage to notch up their first day of guerins in about six days jut yesterday.the heaviest losses coming from the cac 0 -- 40 in paris.

we get a mixed bag in asia. chinese export numbers were not quite as impressive as those coming out of the united states. growth slowed and that in turn led the shanghai composite towards a loss, though it did manage to recoup some of the declines on the day, notching up a modest gain of 0.1%. in seoul, the bank of korea raised its key interest rate to a total of 3.25%. that followed high inflation in asia's fourth biggest economy in the month of may. the kospi finishing the day down almost 1.2%. and toyota, forecast its net profits will probably fall by 31% to a total of $3.5 billion this year. as you can see, the nikkei ended the day up by about 0.5%. let's take you back to that thursday turnaround on wall street.

alison kosik is in new york. stocks on wall street posted solid gains thursday, snapping a six-session losing streak. analysts viewed the rally as a buying opportunity with investors swooping in to scoop up shares that had been beaten down recently. at the close the dow jumped 75 points to 12,124. the nasdaq added 0.3% and the s&p 500 gained 0.75%. bank shares climbed with wells fargo, jp morgan chase, citigroup and goldman sachs climbing 3.2% each. most companies fell between 8% and 12% in the past month alone. in economic news, the u.s. trade deficit unexpectedly narrowed in april to its lowest level of the year. exports hit a new record high, a good sign for u.s. manufacturing. while imports declined, likely due to the effects of the earthquake in japan.

weekly jobless claims remained flat last week, edging up 1,000. analysts normally associate a level below that with job growth. looking ahead, the last pieces of economic data of the week are due out on friday. investors await figures on import and export prices. that's a wrap of the day on wall street. i'm alison kosik in new york. that's how stocks finished. let's have a look at how they're poised to open. the early indications is that we could see a lower start. the dow jones industrial average futures currently falling by by 0.3%, similar situation for the nasdaq and also the s&p at the moment. and there were two. in the wake of dominique strauss-kahn's resignation, the imf leadership battle was men

the to be a hard-fought contest between europe and the developing world. the roots to the top sees the fresh finance minister pitted against the mexican central banker. these are the two most likely candidates now that nominations are near the point of closure. one of them will become the m.d. of the international monetary fund. christine lagarde is known as a top international lawyer and a former synchronized swimmer who represented the french national team. she's the first financing minister from a g8 country. she's hugely respected in the realm of international economics. so too is augustin carstens. he claims his candidacy would bring a fresh pair of eyes to

the fund. that, of course, is something that members outside of europe have been calling for for years. both of these two candidates are expected to be nominated. they're expected to have enough backing to be short listed after nominations close on june 10th, which is of course today. if they get nominated both will go forward. after today the lobbying begins. much consultation will take place to reach an all-important consensus here. members will be hoping to get that consensus before this date, june 30th. the object is to avoid a weighted voting process at the end of this selection. let's go back to our two candidates in the event of a vote actually taking place, it seems as though madam lagarde could have an advantage. this is mainly because europe makes up 35% of the total vote

and the united states also makes up another 17%. what isn't certain here is how some of these bric countries, the emerging market countries could vote. will they go for an emerging market candidate such as augustagustin carstens? even avila guard appeared to charm china, her rifle has now appeared on indian soil. we are joined by new delhi to talk about agustin carstens visit to india. obviously the fact that christine lagarde and agustin carstens have turned up in india to lobby for their candidate siz means that india's decision really does matter. >> agustin carstens arrived in india today. in some hours he'll be meeting

india's finance minister. later in the day, he's going to hold a news conference. it's part of the effort by the two candidates to lob boby for top job. >> hamid, what is carstens seen as in india? are you getting any idea of the feedback he's been getting from some of the leaders over there? >> as for india's prime minister, lodged his discontent over control of global financial institutions. that said, he also mentioned it's a long haul before a change take place. but so far, yan hasn't yet taken any position on who should hedge the imf job and the decision is likely to be announced by the prime minister himself. nina? >> we should also talk about the growing discord between the

emerging markets and the traditional people who dominated the role at the imf and indeed the world bank, europe and the united states. talk to me about the emerging market wanting a bigger voice in the ball room table here. >> nina, it's widely believed that the economic order is greatly shifting towards eye merging markets and there seems to be a common desire among these countries to have someone from their own ranks to had the imf. but, let me say these countries have yet to evolve as a cohesive group on who should head the international monetary fund and other financial institutions. nina? >> any idea, hamid, i recognize this is a long shot, whether the emerging markets will get it? >> well be it's too difficult to say at the moment but as i mentioned, there seems to be little cohesiveness among these

groups on the candidacy for imf. and that said -- and it looks like lagarde is a front-runner because of this agreement or lack of unity between emerging markets on the issue. nina? >> hamid singh in new delhi, thanks so much for the update, following agustin carstens ease visit -- visit to india. lipsky dismissed any suggestion that he was trying to influence voting of christine lagarde saying the timing was a complete coincidence. the former deputy to dominique strauss-kahn insisted that the m.d. selection process of the imf would be open, transparent and also merit-based. meanwhile, the white house has dismissed a reuters report that the u.s. secretary of state is angling for the top job at the world bank. it's been an unwritten rule that

that post has been held by an american while the imf is headed up by a european. reuters says a source close to clinton says she wanted the role. jay carney says the report is totally wrong. now, if you shop online, most banks say they'll protect your credit card information. what happens when hackers get hold of it? customers of one u.s. major bank are about to find out. thousands of managers and i.t. types are gathering at new york for a look at what's touting to be the next being thing in computing. we'll have plenty more on the show. those stories ahead on "world business today." let me tell you about a very important phone call i made.

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hello, live from cnn london, this is "world business today." welcome back to the show. here are the other top business stories for you this hour. apple's ipad will soon have another rival. hp says it's touch pad tablet will go on sale july 1st. the device will retail at a starting price of $499, matching the price of the ipad. facebook says it's working with european regulators to address criticism of its new facial recognition feature. it's faced criticism since it had installed the tool without telling users. citigroup says it's mailing out replacement credit cards to 100,000 of its north american customers. on thurgs, the bank said that hackers had stolen credit card numbers, addresses and e-mail

addresses from about 200,000 customers. it says their social security numbers and birth dates were not accessed by the hackers. that attack saw citigroup join a growing list of institutions targeted by computer hackers. they include a long list of companies, some of them big names in the world circuit such as, for instance, sony, lockheed martin, g-mail and the british national health service. how damaging are these attacks and how worried should consumers be? cnn's brian todd investigates. >> reporter: if you do any banking online you'll see that reassuring template, here's how we'll protect your money, identity. citigroup's got it but citigroup just got hacked. someone accessed the personal information about 200,000 north american customers. it won't say how much money was lost. the hackers didn't see social security numbers, dates of birth or card security codes, the company says but did view customers names, account numbers

and contact information. cai can they still do damage with your contact information and name? >> they can sell that information for identity fraud or theft. they can try to poach customers from citibank. more importantly they can use that information to trick citibank tellers or operators into believing they're the actual customer. >> reporter: he says the bank's built-in protections only go so far. on the same page of its website where it says how it is protected citigroup says it uses 128-bit secure sockets layer encryption technology. the most widely used form of protection today. can it protect you? what does this even mean? >> ssl means that from your browser, from this window here to their computer, there's like a secure pipe that's hard to break into. it doesn't mean anything

about -- it's like driving to the bank. when you're driving to the bank you're secure. once you get inside and engage in a transaction it doesn't mean anything about the security of that transaction or the files when they're stored in their filing cabinet. >> hacking is everywhere and constant. while we were interviewing rash, he spotted an attempt to hack our computer using a fake virus warning. mark mafray co-founded ei digital security. he and other experts say the recent hackings are likely not related but do have common threads. >> we continue to see an increase in folks targeting intellectual property that can lead to economic growth and that's something that a variety of different countries have become aware of and hacking is very much at the forefront of that and increasing sophisticated attacks. >> experts say one reason why everything is at risk is because the defenders like the banks and the military have to protect themselves against every possible threat, every possible

way in. the hackers, they say, only have to get lucky once. brian todd, cnn, washington. now, would you drive a ferrari through this? up next, find out how the top luxury car brands are convincing india's elite to take the risk. . deliciously rich. flavorful! [ female announcer ] together at last. introducing new stouffer's farmers' harvest with sides of lightly sauteed farm-picked vegetables. find more ways to get to the table at letsfixdinner.com.

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kong's victoria harbor looking out towards the financial district where the trading day has now come to an end. welcome back, you're watching "world business today" live on cnn. i suppose you could call it a financial brainstorming summit. the u.s. treasury secretary plans to meet with india's finance minister later on this month for talks about issues common to the two countries and of course about the global economy. the second u.s. india economic aid financial partnership meeting will be taking place in washington on the dates of june 27th and the 28th. as rapidly emerging -- as a rapidly emerging economy, india is trying to embrace its lightning fast growth while trying to control inflation. india's 2010 gdp grew by more than 8% to more than $1.5 trillion, making it asia's third largest economy. as inflation hit about 11%, the central bank began a series of

rate hikes. now, put -- that put the brakes on manufacturing services as well. manufacturing and service sectors, shrinking annualized growth to 7.8% of gdp in the first quarter of this year. that's an explosive pace of growth nonetheless and it's creating multimillionaires at a break neck speed. a recent survey forecast that the number of indians worth at least $5 million will trim by 2015 to 60,000 now to about 220,000. and the number of indian billionaires is increasing, too. so the question is what are india's newly rich doing with all that money? as pauline chiou reports, it seems as if they're buying cars. >> reporter: braking, crawling, negotiating wandering cows, super luxury cars are enduring india's roads, as the nation's wealthy losen their purse

strings for iconic brands. ferrari is the late toast zoom in, downplaying the road conditions, its importers hope to sell 100 cars in three years in india. the cheapest car will set you back nearly $500,000. but money is no object for some buyers. >> there's over demand for the brand and that is enough members of society who can desire and have the ability to afford such a car and fulfill that dream. >> reporter: analysts credit india's new generation, many from high-flying families. >> the rich oil men are not interested in these cars. but today they have adult sons and these adult sons have been studied in london and new york and massachusetts and m.i.t. and oxford and elsewhere and they're not -- they don't have the hangups their parents had. when you drive one of these

things you are not driving a car, you're making a statement. >> reporter: a sentiment that this lawyer knows well. he's been a car enthusiast for decades but it was prodding from someone close to him that made him buy a bentley. >> my son came to buy this car for me. that's why i bought it. after buying it, i find it's a very good car. >> reporter: industry experts estimate that sales of super premium cars grew about 50% last year, notwithstanding the tiny number of deliveries. strong demand also keeps a gray market going. in a government yard in new delhi, dozens of these dust-covered high-end vehicles are sitting in custody. they were impounded after investigators cracked an alleged smuggling racket. the buyers, authorities say, were rich clients wanting to evade hefty duties. automakers are optimistic across a range of segments but competition is growing in the niche elite market and those who have picked upscale cars would

love to see more room on india's cramped roads. >> we have to be very, very careful when you drive the car. that's the reason you drive slow so you may not hit the people. but people may hit you. you feel uneasy when you drive the car. >> reporter: a trillion dollar spending is in the pipeline to overhaul india's infrastructure this decade. for now it's a cautious drive for the con sewers noisseurs of. pauline c pauline chiou, cnn. there's a huge cloud over new york this week but that's not stopping thousands coming to town to check out the next big thing in the world of computing. in fact, they love the cloud.

we'll explain just ahead on "world business today." don't go away.

from cnn london, i'm nina dos santos. welcome back to "world business today." on thursday, the markets snapped a six-day slump in europe and the u.s. it seems as though that upward momentum could have been short lived. europe is currently trading down this hour. u.s. futures look equally gloomy and asia is once again dancing to its own tune it seems as china slumped on the back of poor export data and also automakers boosted the markets in japan. it's not a positive picture

in europe about 90 minutes into today's trading session, markets have been so far unable to sustain the gains they made late in thursday's session. here's where we stand at the moment, the cac 40 leading the decline, down by about 0.75%. as i was saying, it's been another mixed session in asia. chinese export figures showed a slowdown, which was mirrored on the markets in shanghai. that market managed to edge up towards the end of the day with the shanghai composite notching up 0.1%. in seoul, high inflation during the move may, the kospi finishing 1.2% down on the day. elsewhere, we're also keeping an eye on toyota, the japanese carmaker forecast its net profit will probably fall by 31% this year to a total of $3.5 billion. and the nikkei ending the day up by about 0.5%.

let's just remind you of what happened on wall street in thursday's session. stocks finally snapped a six-session losing streak. don't get too excited about a rebound. investors reckon it's more bargain hunting than the start of a bull run. nevertheless it's nice to see healthy green arrows at the end of trade, the dow jones industrial average closing up 0.6 % and the s&p 500 gained 0.75% and the nasdaq gained 0.35%. thousands of people descended on new york this week chasing a cloud. i'm talking, of course, about cloud computing. it's been touted as the next big thing in this field in which your pc applications, data is stored not on your personal computer but instead on remote servers. the advantage is that you can take access your data or access your data from any number of

mobile devices no matter where you are in the world and you don't have to manage any of it on your own. and it's that advantage that's brought all of those people almost 10,000 i.t. managers, developers and computer fans to new york this week. they packed into the fourth annual cloud expo. we were there, too as well. to conclude a week-long series on cloud computing we talked to industry leaders about the emerging technology and also where it's heading. >> cloud's an evolution like all new technologies and we're going through a couple different phases. enterprise corporations are moving their applications to the cloud. lowers costs, gives them more agility. that's what business is about. >> fortune 500 wants to embrace cloud. there's economic benefits, technical benefits, resource benefits, competitive benefits,

agility benefits. the list goes on and aon and on. >> when you talk about people about their concerns about moving to the cloud, the number one issues they raise is issues around data, data security, how well protected, data privacy. can it be used by the person hosting it for other areas and sovereignty, where is it residing at any given own in time. >> where there's a debate is about moving your processes into the public cloud where that's hosted by someone else and where products like mine can help is to allow you to decide which of your applications you're going to allow to move to the cloud and which you're going to continue to host on premise. >> the beauty of the cloud when you look at from an smb perspective, it's a revolution in how they can access technology. it doesn't mat fehr you're a one-man organization or a 10,000-man organization, with

cloud you just expand or contract the resources as you require them. >> we're going to see that sea change or shift from your traditional green screen filling in data in a call center to i can be on a beach doing business and no one would know the difference. while i'm watching my kids frolic in the sand, building sand castles, i'm on my pad. >> there's 8,000 people here this year. next year there could be 1 ,000. i think it's reached critical mass. if you're not moving your ass to the cloud as an i.t. manager -- >> they are about to make an announcement in berlin. we understand that they're about to make a major announcement with regard to which vegetables people can eat raw. this is, of course, in light of the e. coli outbreak that's killed two dozen people and sickened thousands. let's listen in for a minute.

>> translator: and the institute is independent in its scientific research. there are new things we found out and new studies about eating bean sprouts and new findings about where from the sprouts came from a. >> translator: thank you very much, mr. hensel. good morning, ladies and gentlemen. you expect that we -- i tell you everything and also the bacteria

conclusion but we can make a closer call. it is the bean sprouts but we don't know exactly where they come from. in the two and three last weeks there are very bad illnesses and the farmers take a lot of consume and the shops take a lot of brun the from that. we want to find out where it comes from, the infection. we all work together, the health and food ministers. the actual situation of the infections, the number of new infections is going down and there are different independent

pros for that. from the a & e departments of the hospital shows every day bloody diarrhea is going back. goes back. reduces. and also the percentage of women is going down and despite the illness, they are going down. it's two different things, when you get ill and when you go to hospital. the deciding proof was a new possibility of a study. with this procedure was it

possible to prove the root of the epidemic on the bean sprouts. and now we found out about lots of people who were frequent restaurants where statistically we could prove that. i want to say it but the study was only possible through the cooperation of the restaurants and the minister which is were involved. one study, one is not depending on the patients and the control people. one doesn't know what exactly to eat. one doesn't know really after one or two weeks. so there were five different groups would be asked with 112

members and 19 after they went together in a restaurant, they were all ill. they were asked about what they ate in the restaurant but it would be also checked what the restaurant ordered and it was about what menus did they eat in the restaurant. that is easier to remember than what -- and also the cooks in the restaurants were ask ed, wht is in this menu? what is part of the big things, what little things? which amounts of waters in the menus and there were pictures of the tourists of the people and

they have the plates with the food in front of the patients and the people who ate the bean sprouts had nine times higher risk to get this diarrhea. and the consumer who didn't eat those bean sprouts. and this study, 100% of the cases of these sprouts had eaten the sprouts -- of the consumers. both ways from the patient and also from the food -- >> that's the president of the robert kock institut. he's updating the e. coli outbreak that's kills dozens and sickened people. the bean sprouts they do know are the cause. they just don't know where they are located.

and he's also said that the number of new infections is falling. that's it for this edition of "world business today." we're heading into a quick break. after that, marketplace middle east is next.

this week on marketplace middle east, agreeing to disagree. as oil prices continue to average over $100 a barrel, opec

failed to reach a decision about reworking their production cap. plus, higher oil prices, larger revenues. we take a look at how saudi arabia is spending its petro dollars. this week marketplace middle east is in vienna where members of opec stumbled badly on the path to restructure their agreement. but it wasn't just quotas that complicated the agenda at the first meeting since the arab uprisings. the meeting of a dozen opec countries this week had more plot twists than a primetime drama. key question marks hovered over proceedings that concerned libya, iran and provided a daily output creeling that matches today's reality. in the midst of blood shed, most of libya's oil output plummeted, a void mostly filled by owe effect heavyweight saudi arabia.

libya's oil minister defected. >> it's a difficult selection in the state of war. once you are in a state of war in a country like this, of course, it the cohesion is not there. >> reporter: meanwhile, iran's president sacked his oil minister and plans to head that portfolio himself. 2008 when oil peaked at $147 a barrel, they came close. but the banking crisis led to a second half price collapse when opec took more than 4 million barrels a day off the market. in 2009 they averaged over $60 a barrel and rose steadily last year to finish just below $80 a barrel. considering all the unrest, where three-quarters of the world's oil reserves sit, the chief executive of one of the world's top oil giants says opec has done a good job of managing

chaos. >> 10, 15 years ago who would have known there's a risk of something happening on the suez canal, there's a risk of something happening in the strait. the price of oil would have been multiplied by four. >> reporter: with prices at the century mark and rising unemployment in the u.s., opec was under pressure to increase its production ceiling. however, at this week's meeting the cartel agreed to disagree and aannounced they would leave production capacity at 24.8 million barrels a day. >> are you disappointed though that you could not reach a consensus to put a quota that's more realist wick moos ifistic demand? >> i was minister and i attend midmeetings that sometimes reach a decision, sometimes we won't reach a decision. i am sure if it's in crisis

we'll make a decision. >> reporter: if needed opec said, it will reconvene in three month's time to revisit this nondecision. >> this dispute is propping up prices. how much does opec earn during this sort of crisis? in 2008 when prices hit $147 a barrel, and then collapsed in the second half of the year, the cartel earned $990 billion. at this pace with prices over $100 for north sea brent, opec will earn more than $1 trillion in 2011. with prices high and reserves plentiful, saudi arabia can bank on a steady stream of revenue for decades to come. the kingdom wants to diversify its economy to create jobs, especially for saud diz, after transforming a sleepy fishing village decades ago it now wants to go to the next step. jim bolden reports. >> reporter: teenagers playing football, late at night here in

saudi arabia to escape the heat. they attend one of the schools built for families in jubail. one day they may attend the technical colleges that are expanding here to train young saudis to find morning in this vast but remote petrol chemical city. >> we have to make things available for them. all those colleges secure their job to provide the qualified manpower. >> reporter: 36-year-old jubail is simply put like one massive company town. the skyline reveals how fast this area of factories and homes is. in more than 1,000 square kilometers or 600 square miles. but with no signature tall

buildings and few tourist attractions, jubail doesn't have the flash of doha or dubai. >> i have to say, dubai is the heaven of architects. jubail is the heaven of chemical engineers. this is the largest petrol complex worldwide. >> reporter: they manufacture chemicals like propane and polyester from the kingdom's natural resources and shipping them throughout europe and asia. jubail is one of the most tangible examples of the kingdom's long-term plan to move the economy away from just exporting oil. now more than 100,000 people live here in jubail industry city. the region accounts for around 7% of the country's gdp and it's getting bigger. in the newest phase, known as jubail two, state-run oil giant are building a massive plan to the refine diesel and jet fuel.

there's also a space set aside for a plant u.s. chemical giant dow and saudi firm subic. >> we are going joint venture, the foreign partners bring the tech knowledge and the no-knokn. >> reporter: though jubail was conceived and constructed for the petrol industry, they are several kilometers downwind from the residential area. that goes along with dozens of malls, dozens of schools and thousands upon thousands of new homes under construction. this 10 square kilometer area is now as jalmuda. >> it can accommodate 45,000 to 50,000 people when it's fully built out. it will have about 9,500

dwelling units. >> reporter: part of that includes allowing asaudi worker to take part in a home ownership program. jubail can be seens aan attempt to spread the vast commodity well. >> that's a look at the largest oil exporter in the region. coming up, a special look at importers of north africa and how they can fuse europe as a springboard to recovery after the uprisings. ur my vision. my eye doctor said there's great news for people with astigmatism. acuvue® oasys for astigmatism. he said it's the only lens of its kind designed to realign naturally with every blink and created with hydraclear® plus. i'm seeing more clearly, crisply, comfortably, all day long. now life doesn't have to be a blur.

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there's a downside of oil averaging $100 or more in 2011. it puts a lot of strain on the importers of oil in north africa as they try to recover after the arab uprisings. i spoke to mark spellman of

accenture and asked him about setting the right framework for investment going forward. >> investment comes in many shapes and forms. one of the things we can do is use government institutions in different parts of the world to be able to provide initial financing, particularly before you get to the point of maybe private companies coming in. one of the things you see around sort of the development is what you need is basic reinvestment in infrastructure. that could be around physical infrastructure, digital infrastructure, but also around schools. i think that that's where governments, that's where the g20 particularly can help and that will create a platform for private sector and be more pro-active. >> that seems to be the u.s. approach. president obama is using the different aks to provide near term debt relief and also seed capital for the small, medium sized enterprises. does that seem about right in terms of the structure? >> yes, i think that's right. what's very important, though,

is that there's a clear signal from the west, that they want to engage in terms of help but they don't want to run it. that's a key message to sort of play. at the end of the day these countries have to stand on their own two feet. they will need a lot of help, they will need a lot of advice, they'll need guidance, capacity building and infrastructure investment will be part of that. initial funding is important but you're trying to create capacity and self-sufficiency at the end of the day. >> the europeans took a lot of heat over the last six months because they were not engaging over the last 15 years in what is considered their neighborhood. how do they change that reputation for being too passive in the process? >> one of the interesting economic ofrgs one makes is that a lot of eu trade is within europe but it does a lot of trade with its near neighbors. i think what europe has to do is say we've historically had trade and exports out of europe go to north africa and other parts of the mediterranean. >> more so east, isn't that a

fair comment rather than south? >> still quite a lot has gone into north africa. the issue is europe has to look beyond its borders. you have challenges about helping with exports. you have issues about immigration coming in. it's very important, i think, that you get diplomat engagement around the economics of both demand and supply of exports, imports and also of labor. >> should we think of greece, spain and portugal differently, they should actually be clusters that could grow off the back of such a large market at the door step, which they have not engaged in so far? >> i think you should also include italy in there. what this is getting to is to say is there a possibility that we could use europe in some way, centers of gravity for expansion of both, i think, good practice and investment into northern africa? i think there is clearly an opportunity there. because it's much more likely to

come from those countries than it is from northern europe. the other big issue is the dependency on energy. again, there's opportunities in terms of opportunities to strengthen the links between southern europe and northern africa. that's all for this edition of cnn marketplace middle east this week from vienna. i'm john defterios. thanks for watching. we'll see you next week.