tv Business - News Deutsche Welle June 21, 2018 1:15pm-1:30pm CEST
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and it's by no means goodbye for good simon's planning to be with the berlin film on it next season just as he was in one thousand nine hundred seven as a guest conductor. all right u.s. trade policy is turning friends into rivals monica with more on that story coming right up. my first vice like of mosul sewing machine. where i come from women are bones by this ocean even something as simple as learning how to write a by saying isn't. since i was a little girl i wanted to have a bicycle of my home but it took me years to when i. finally gave up invented by in
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your mind's eye and returns because sewing machine sewing i suppose was more appropriate for girls than rising and by and now i want to meet. women back home who are bones by their duties and social rules and inform them about obesity right . mind. i think the. u.s. trade policy used pushing washington's trade partners to seek new allies a trade spat front opens from canada to europe and india key u.s. trade partners respond to washington's punitive tariffs with retaliatory measures but the e.u. signals were open for talks to resolve the trade. also on the show euro group ministers meeting in luxembourg today to discuss the future of greece as a third aid package comes to an end in august we asked is athens ready to go it alone. and german luxury carmaker issues
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a profit warning putting the blame on trade tensions between the u.s. and the rest of the world. welcome to do business on the drums america first policy was intended to in his words make america great again but it's also increasingly needing america's going it alone when it comes to world trade strums first salvo in the trade conflict was a twenty five percent tariff on steel and imports it in if it's to protect u.s. manufacturers but that angered many of america's traditional allies like canada. and the e.u. as well as other trading partners they respond with their own retaliatory tariffs on a bevy of american products china also became a target of trans economic sanctions aimed at protecting the u.s. from beijing's unfair business practices with china responding in kind to that means that the world's top four economies are all affected by new barriers to free
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trade well meanwhile the e.u.'s trade commissioner cecilia mt stream said the european union is ready to engage with the u.s. to solve the trade route between the two western allies monster is currently visiting new zealand to begin talks on a free trade agreement not long ago it was the other way around but now it's europe urging the u.s. to open its markets to free trade you representatives like to see emotional or raelene allies across the globe against the u.s. protectionism. good morning because it could it's not yet but it could escalate. to a full trade war which would be bad for the whole world because we are so you zealanders and european union we are so interlinked in the global economy it's also in the chinese and in the us with a global value chains so it will affect us as well it will affect our companies it
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will affect our consumers. the e.u. is imposing its own tariffs on us products and they go into effect tomorrow. they'll have goods such as whiskey. jeans and motorcycles. there europe's response to president donald trump tariffs on european steel and aluminum. but the trade commissioner is trying to leave the door open to new talks with the u.s. government prefer through the world trade organization. so that is a concern. and of course we are trying to work together with partners and new zealand is a very strong partner in that to see how we can strengthen and develop and elaborate within the because it has served us well for know the e.u. is relishing its role as a champion of free trade. german automotive joint
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is feeling the pinch both from the emissions scandal and the escalating trade conflict between the u.s. and china the democrat maker has issued a profit warning saying costs from chinese tariffs on cars produced in the u.s. would take a bite out of their bottom line but i'm not asking because some eight hundred thousand days of vehicles across europe due to emissions cheating the predicts that earnings before taxes and interest will be below last year's level. ever more on that i'm joined by the standing by for us outside the france and stock exchange only. issues a profit warning how are investors reacting to that. they're shocked and their shock is translating more and more as trading progresses into deeper red figures for the dima share. currently going down by more than four percent and it's taking down the other car shares and automotive shares in the dax with that b.m.w.
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and volkswagen also losing heavily and auto supplier continental one of the largest in the world also going down by two and a half percent because people assume that the troubles that time were having with the effects of tariffs on sales are also going to be affecting the other companies and the sector of course also has the diesel scandal and i don't know if the company itself can already evaluate how heavily that will hit the balance sheet and i think that's also part of the investors' problem what else will it be will they're becoming besides the wording that came today on the profit and that was only bought in front for talking to me earlier finance ministers needs today to discuss greece the aid package to athens is set to expire in late august by the time the bailouts and oftens will have received more than three hundred billion euros from both the e.u. the international monetary fund and exchange greece cuts down on public spending
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and passed crucial reforms to shore up its economy time for athens to go it alone. greece hopes it will soon be able to stand on its own two feet again that's why some of its creditors including the united on money terry funded the european stability mechanism will end their support in august it's a step greece's parliament is already preparing for get past the latest reform and austerity package in june eurozone finance ministers now want to discuss how they can remove the final roadblocks for greece to reenter the international financial market one idea is to tie greece's future debt payments to its economic development that means that in good years it could chip away at its suffer in debt more quickly that's something the economic data support greece's g.d.p. had been shrinking for years but since two thousand and seventeen it's been growing the ministers could also decide to extend greece's loans set lower interest rates or even freeze greece's payments for several years but it current rates greece
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won't have paid off its loans until twenty sixty should the bailouts actually end in august then greece will be forced to raise new funds on the international finance market and to help convince investors to buy greek debt eurozone authorities are discussing giving athens a twelve billion euro financial buffer when the bailouts and. so the question is can greece stand on its own feet again that's. chief economist and. bank and he's joining us in a frank good to see you so first of all what do you say is athens ready to go it alone. i think that as he's already who are very had a bailout for eight years we've seen many structural reforms and now we finally also got the growth back in greece i think and we also actually by the start of the year that the greek government was already able to issue a new government bond in the financial markets so i think greece is really ready to send us on feet clearly from what we just heard you finance ministers don't seem
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one hundred percent certain at least when it comes to sending athens alone back to international financial markets they're talking about a possible twelve billion euro financial buffer to help after along the way is that enough is that the right mischa i think it's very there are many nitty gritty details right now i think what finance ministers are discussing is to give greece a little bit money to for through to buy back some loans that greece received from the i.m.f. we also have the promise which already was made two years ago that greece once they leave the better package to also get further debt restructuring that is also on the table right now when when funds ministers meet so i think yes greece still need to push a bit in the back but way to get the economic fundamentals ends and the structural reforms taken by the greek government i think that greece can stand on its own feet the only other question is will we get any kind of post bailout surveillance so
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will brussels at least stay in the background to help with the greek government continue with the reform program you just mentioned a debt restructuring and there's also talk about possibly lowering interest rates on greece's debt or loan repayment open to even freeze those repayments for several years it almost sounds like lenders could be needy and enough to write off debt altogether. you know the thing is the writing of that is a no go in europe we've seen this over the last eight years so what it will be other european countries always trying to do is to find some solutions which would show their own voters that they did not write off that the arm of money for greece but so they found they find nice tricks and these tricks can be a further extension of the maturities freezing period we've had it all before it's also be clear and so provide a bit more of the same which would help greece which could also help them succeed for us to show to the greek population that he finally received for the deaf
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restructuring because that is also what i actually see for us promised the greek population when he entered office ok so listening to you i get the feeling ok that the greek debt drama really seems to be coming to an end slowly but surely so we can now focus on the rest of the euro zone and to chance that i'm going to merkel and french president. agreed on a eurozone budget what do you make of that it's a nice small step towards further integration i think it's better than then we hoped for a couple of weeks ago when it went to looked as if the german government was not willing at all to convert midsomer krunk so it's a nice a step but also it will not be a stand alone euro zone budget it will be part of the the multi and you will you budget so it will be kind of budget line within the european budget it's only small double digit numbers over over five years horizon so it is more symbolic but it
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shows that at least merkel and mccraw willing to work together and i think this is the best we can get right now all right cousin just get chief economist at bank in frankfurt thank you so much. and of course we will keep an eye on that euro group meeting in luxembourg acid is on the way and as results coming out but for now that's your odd day business update here on t.w. from me and the entire team in berlin thanks for keeping us company you can always find out more on line or if you follow us on social media and i'll hopefully see you soon.
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have. an opposition stronghold on the refuge for the democratically minded talking to the biggest city he's new to people are proud of their decisions are open minded and tolerant. and many are determined to defend turkey's common entry election by a broad alliance of party since forms to challenge the government. next d.w. . enter the conflict zone there's been plenty of coverage of the
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thousands of casualties inflicted by israel the lowest for the stars up but what's really the role of hamas the bloodshed by kersti. i'm gonna a senior member of hamas is proving from the year of the move deliberately provoke israel with no school for the safety of its citizens conflict so far in sixty minutes d.w. . crimes against humanity civilians have become witnesses to. their recorded images travel around the globe via social media. but what is propaganda fiction and what is fact and digital investigators comb through the
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flood of images they combine sources to try to reconstruct what happened and substantiate claims of crimes and. forensics between bits and parts of. truth detectives starts june thirtieth on t.w. . hello welcome to focus on europe i'm michelle henery it's good to have you with us world cup fever has taken hold of football fans everywhere this year as host country russia is no.
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