german government with those being held in turkey's prisons. now don't forget you can always get a w. news on the go just download out from google player from the op was still that'll give you access to all the latest news from around the world as well as push notifications for any breaking news you also used to send to supporters under videos. more world news for you at the top of the hour monica jones is standing by with the latest the business update have yourself a good day. when i'm traveling to be comfortable. but i also want to stay up to

date on the latest news events. and d.-w. makes that part of traveling easy just because it's available and thousands of hotels resorts cruise ships worldwide. or have you found a domain signing send us a picture that shows d. w. in your room you can enter great price go to d w dot com travel quite as. easy does it the european central bank makes markets happy announcing a long anticipated scale back of its huge economic stimulus program. and colonias political crisis weighs on business and tourism we visit some of the culpa. he's caught in the crosshairs of the independence struggle. and i've been

physical and let's do business the e.c.b. has announced a gradual withdrawal from post crisis stimulus it scaling back its bond purchase program from sixty billion euros a month to thirty billion euros from the start of next year interest rates will stay where they are at their historic lows europe is slowly on the mend with the likes of portugal spain and greece all growing economically but many experts believe in you debt crisis could hit had any time that's why the head of the european central bank mario draghi says the eurozone still needs its financial support it's purchases pump newly printed money into the banking system in hopes of raising inflation from the current annual one and a half percent for the banks goal of just under two percent which is considered best for the economy let's talk about that with daniel cope at the frankfurt stock exchange of financial correspondent there daniel what's the euro doing it's

a real balancing act for mario drug to ensure it doesn't shoot up and to export has what's the reaction after the announcement. yeah you have and you just mentioned the euro we saw the euro yesterday actually rising and now after this news that mario draghi was just giving about forty five minutes ago we see the euro again falling that's also helping the export business and i guess you can see a very good here and background when the news off the e.c.b. came out we saw again jumping shares here at the blue chip index docs we are now over the thirteen thousand point mark that we were really is that we were really struggling with during the last days what a traders saying to you because this all seems like a very well locus traded event no surprises everyone was guessing what was going to happen and it did so i guess it's a good day although. yeah i was just talking to some traders here on the trading

floor they were telling me that they were waiting for this day and you're right no really big surprises it was not really clear though you know how much he would reduce this one purchasing program now from sixty billion to thirty a billion yours per month starting from a generally on but it really seems to be the case that he is very careful because he was also mentioning that pretty much at any time if they would feel that it would be necessary they could also you know have again more a bond being purchased by the european central bank a trader i was comparing this a little bit earlier with a medication whenever you have a patient basically that is under medication it's also not clever for one day to the next to reduce it completely to zero it's clear that mario draghi is very careful because we are close to this two percent inflation target that he wants to have but not yet exactly where he wants to have it and europeans who have loans

will be happy to hear that interest rates are staying where they are how much longer will they stay where they are do you reckon. well nobody expects that we would have those high interest rates today and now we're hearing that those interest rate at this record level of zero per cent are at least going to be until september two thousand and eighteen that's also the time until this bond purchasing a program will continue we are hearing that most likely it's even going to be longer so at least until september two thousand and eighteen we won't have to talk about higher interest rates here again ben and higher interest rates are a prospect in the u.k. and u.s. so how does europe's policy gel with that of its neighbors and over the other side of the atlantic. yeah that that's what that's

a question that many investors here also raising because you know as i just mentioned we are close to the two percent inflation rate that mario draghi actually wants to have there really seeing as saying that he is pretty much too much cautious that there could be in the mind of investors already higher interest rates but it's just mario draghi who really wants to be very secure that you know nothing is going to happen basically ok daniel we'll get back to you in a moment because there's news just coming in to you'll also be interested in no doubt that your birds are both cast and can get a is resigning he's c.e.o. of the frankfurt stock exchange operator and came under fire for buying a huge amount of shares in his company shortly before it became public knowledge that it was looking at merging with the london stock exchange and shares in georgia as a short hop on the news the merger never happened but is being investigated daniel can we rope you back in and just ask you about the reaction there is a bit of

a surprise considering. was pretty much like there in frankfurt. well this news that he's now really going to step down by the end of the year kind of came as a surprise we knew that there was a board meeting at taking place today really discussing the future of miss that can get done because his contract was due in march two thousand and eighteen and with his open trial basically going on it was clear they couldn't give him a contract if you know he really has to be in front of a court room member that he wanted to agree on a settlement with the courts here and frankfurt but the courts here in frankfurt was just saying this week that this case is just too important they're not going to do with this then you go proceed with all the analysis from frankfurt thank you very much. catalonia as president is said to call the snap regional election it could help break a one month deadlock between the government in madrid and separatists want to break

away from spain the political turmoil has prompted many companies to move their headquarters out of spain's richest region in the northeast but not every business is willing or able to leave. a banner on the town hall of sub adele reads freedom for political prisoners this catalan city isn't just the stronghold of the region's independence movement but also its industrial heartland due to the city's wealth spain's fourth largest bank was founded here. even though the bank has now turned its back on the region most mid-sized companies are staying in catalonia. take this supermarket chain for instance right in the middle of the political crisis its management announced it would be making two hundred million euros in investment opening nearly thirty new stores creating one thousand new jobs. they want to know us and we're also building a company head office right here in the heart of catalonia we won't move our

headquarters anywhere else that will keep the wealth in jobs in our region that's exactly what we want that going up and i think that as many see reports of companies leaving the region is cheap propaganda that's because the major corporations and banks are effectively only changing their registrations for tax purposes plants and jobs are staying here but the political crisis is affecting many companies orders are getting cancelled foreign investors are leaving add to that the regional government in barcelona is having trouble paying its bills. messes is put on the bible and waiting six months for the authorities to pay their bills. that's hurt on my company. i have to get a loan to pay my workers. call the authorities about the payment they say their hands are tied. companies are caught between the two sides of the political

crisis which continues to escalate according to business sources here the government in madrid is also putting pressure on full subsidiaries say this seems like an effort to push one of the biggest employers out of the cartel and region prime minister seems also to be using economic leverage against his political opponents. the uncertainty in catalonia is weighing on the capital loan or is one of europe's major tourist destinations and while there are no official figures available yet the word on the street is that a political crisis is hitting tourism. would you like patrick smith works as a tourist guide just five people have signed up to his tour of the famous a crowd after me. not a good sign considering the church lies at the heart of barcelona's tourist trail. we're seeing more cancellations and usual we're almost twenty five percent down since october people are afraid. with no official figures available yet

it's too early to know exactly how big an effect spain's political crisis is having on tourism overall but anecdotal reports suggest the problem is accused restaurant owner carlos man ressa has noticed a significant drop in clientele since september. we're thirty percent down compared to the year before we're. let's start here with things go on like this. it's really bad but the problem is the situation is ongoing. hotel owners in barcelona appear reluctant to discuss the crisis but the word on the street is that bookings are down about ten percent since the referendum. eighty kilometers away in tahrir goanna hotel ownership is more upfront he says spanish

tourists are boycotting catalonia. moment we're seeing a ten to fifteen percent reduction in tourists from spain out of the total your portion of insurance from the spain is thirty percent and this is a fungus a bonus for them. but some more and that without official numbers there's a risk of the consequences being overblown and anecdotal evidence being used to inspire fear among the. tourism is a popular of both the spanish and catalan economy i mean people use information to . overstate the consequences when kind of a warning to the castle and government. while industry insiders await the exact figures it seems hard to dispute that spain's political crisis is hurting toryism. but then i was doing business.

hours can say so much. some of the world's finest florists are competing in court and in the spanish city's famous patios they let the flowers do the talking. join us as we accompany floral artists around quarter of was the international flower

festival. in paradise plans. next. show. on freedom and home. where i come from the region is rich in history style and talent but so poor in education opportunity and freedom this makes it especially difficult for independent journalists i see many of the young and promising janitors now making names for themselves all over the world. some might get tired of the way some might follow some with continue. their experience of freedom my sense is like the unions of the day you can visit it but your call come back from. mining is your fish food and i work at the end of a. good

of the w. we speak your language our spanish program your. own words will inform us information i can later always close to the action but i'm not part of the local folk ever wonder what you can get that up to the minute news and opinion of the background to political developments. d.w. we bring you. the it. everyone welcome to your remarks as always the program is packed full of fascinating stories from all over europe.