sound i've been filling will be hearing from an expert on the role the banks play in preventing the next financial crisis in the same bed as a little how about for you momentarily i'll be back where i found more world news of the top of the hour in the meantime of course as always the web site w dot com yourself a good day. louise at full speed. anyway shining. the but always on the move.

mostly today and in the future. drive it on w. . make your smart t.v. smarter with the t w force more to. what you watch when you want it up to date extraordinary into you decide what song sung no more. dot com smart t.v. . the turkish lira surges for the first time in weeks as the country's central bank tries to save a by raising interest rates shah played against president everyone's well. the european central bank scales back its crisis measures taken to the global financial crisis did the e.c.b. really do whatever it. and

a bacteria sweep through italian olive groves threatening the industry but a solution may be at hand. i mean physical and let's do business the turkish lira surged to after a decision by the central bank to raise the interest rate i'm holding six percent turkey's financial authorities met today in a last ditch effort to cope the leader is dramatic the center or at least slow it the currency value is plunged by more than forty percent against the dollar this year analysts had argued for a drastic interest rate hike to keep prices from further skyrocketing but turkish president richard tie a better one had opposed such a move claiming higher interest rates would worsen the country's economic problems turkish regulators have also decided to ban all real estate business in foreign currencies all transactions will now be handled in the euro. it's also another attempt of course to support the current see which continue to tumble even after many to explode liras with dollars like the president had told them so let's rope

in craig our analyst in london along with his temple correspondent dorian jones craig starting with you how much of a boost is that right rise given the lira. it's give me a quote of pushed so far i think for two reasons firstly is that the actual rate hike itself supposed expectations by around two percent which is always going to be a good reason is that there was still i think a little bit of warre that the central bank would shoot what markets were expecting because of the pressure being put on the poor on its present so the fact that it's got a ball sends a strong signal to markets that it is still independent and it will still act in that manner in order to support the currency and support the market i bet investors are relieved to add one didn't want this rate rise but it's even bigger and actually the biggest in his fifteen year rule. the only question now is whether it's going to be an off so actually calm investors or whether more is going to be needed further down the road we've seen in argentina for example we saw significant

rate hikes previously and even then we need that another fifteen percent rate hike quite recently in order to try and calm events the nerves and even that may not be enough so there may still be more needed but the central buying showing its independence is in the stream an important first step dorian a question for you doesn't this all make ed a one look bad. well i think there will be relief across the country the currency didn't suffer further falls and that was the expectation that if the central bank didn't act decisively the currency would again be under pressure and those holes have torn the country but at the same time it does come in the face of a very strong warning by the president against increasing interest rates to the central bank how his supporters will see that going forward will be unclear but i think the priority across the political divide these this country gets a grip of dealing with this currency crisis and ultimately the looming economic

recession that many are expecting in the coming months ahead so relief all round but how are people coping with the crisis. well i think the first state of affairs in this country that people are in massive shock that the currency has fallen so significantly and they are dealing with the reality of that a massive surge in inflation inflation is nearly twenty percent is expected to go up as high as nearly thirty percent people are already coming to terms of those things raising prices or buying schoolbooks food prices are soaring that is a big concern and that is i mean the talk of the street going forward there is a realisation that there will be a likelihood of a recession and that means job losses the country's awash on social media of talk of big companies in trouble and the fear is that there will be a major rise in unemployment so there is realisation that the country is facing very very tough times ahead even in spite of this action by the central bank and

the fear is that if those talk time to go to get worse the president could possibly intervene put more pressure on the central bank to reverse its stance and that would be a big concern among investors as well as the concern that investors expect far more steps be taken on the fiscal side as well craig you mentioned more measures need to be taken what needs to be done to ward off recession. alternately we need to see stabilization in the currency markets forty. he taught any chance of. avoiding a recession or more likely not ensuring that it's not quite a horrible recession and i think in order to we need to get investors on side and therefore set up first step by the central bank is important fiscal sensibility also needs to ensure that that's the part that people are also extremely concerned about because the seems to be decided that you can spend and spend and spend your way out of problems and historically. investors and you do tend to see capital flight they're the two most important things i think that we need to say one of

which is currently being ticked right thanks for the import credo i'm in london and dorian joins in istanbul for us. the eurozone outlook isn't rosy he's even turning its growth forecast at the same time is winding back its economic stimulus still it's been a decade since the global financial crisis hit and today's announcements with a surprise easy being leaving its key interest rate untouched at an all time low of zero percent and the council setting course for street to monitoring policy from october onwards the monthly purchases of government bonds are going to be cut in half to fifteen billion euros these purchases are executed to keep troubled european economies afloat. on a boost and joins us now from frankfurt our financial correspondent would you say the e.c.b. is on track is it doing the right thing despite the outlook and those trade tensions. i would say the european central bank is on track it's exactly doing

what it announced at the last meeting it's cutting back the asset purchases and it announced that it will end those asset purchases by the end of the year the net purchase is this it that is the e.c.b. has said a few things to calm the nerves on the markets to it intends to reinvest as it says the principal payments from maturing bonds for an extended period of time after the end of the net purchases and in any case the e.c.v. says as long as necessary to maintain favorable liquidity conditions and an ample degree of monetary accommodation so this really is good news for people on the markets it means that the shift from quantitative easing to quantitative tapering is very soft very cautious and very market friendly ok so it's taking measures somewhat soft measures but tell me did the e.c.b.

really do whatever it took as mario draghi promised back then. well i'm sure that you know there are monetary policy with or you know experts that could come up with more innovative idea of ideas of what the european central bank could have done but if we take into consideration that the balance sheet of central bank is now at more than four and a half trillion euros that's forty percent of g.d.p. forty percent of the value created in the countries of the eurozone this is definitely a very bold move and it was enough at least i can say to convince speculators that it makes no sense to speculate on the break up of our currency union our economic with is in frankfurt can read the. businesses reducing or delaying investments in the united states its central bank the federal reserve says

the trend is due to concerns about washington and beijing's trade war so far the effects of the tariffs have been modest they've boosted some production costs according to the fed several american companies warned that more tariffs could hurt their businesses the president donald trump said washington was ready to impose tariffs on all chinese imports on wednesday the u.s. government proposed another round of trade talks with beijing. apple shares leapt by two point seven percent on bale its latest smartphone line up with the customary fanfare of course the tech giant says the i phone ten s. and its biggest sibling the tennis max the fastest i phones ever liquid proof and have the most secure facial authentication technology in a smartphone apple is counting on hands and profits for the tennis macs with the company's biggest display so far. a deadly bacteria is devastating

italy's all of industry it strikes down trees extremely quickly and leaves fields unusable so far the area affected is the equivalent of a thousand football pitches but there's hope for farmers in the form of a resistant olive tree as i left fastidious when it infects the tree it causes with the rain which ultimately results in the trees death it was first discovered three years ago and has decimated plantations ever since leaving farmers like we not gayety desperate. the poor want to be much. nothing is as it used to be. production has gone down by eighty percent this year. and the financial effects have been considerable. quantity even then i went from fifty employees to zero and last week i had to let my secretary go after sixteen

years. the diseases carried by sick adele's would sucking insects which spread the infection to healthy trees. one of the bacteria spreads forming a sort of barrier it prevents water from passing through the leaves believes dry up in the branches died due to lack of water together with his team at the university of barrie experimented on olive groves to find a plant resistant to the bacteria after five years of research success they found two potential candidates to heal the infected trees farmers combine the sick plants trunks with the newly discovered branches this way they hope they'll be able to revive italy's shaken olive oil industry. if.

such an odd. cut cut cut. cut cut cut cut. cut cut cut cut. cut cut cut cut cut cut. cut the a. more intrigue international talk show for journalists to discuss the topic of the week which a model for it is live from the syrian conflict cooking moving into what's. going on but what costumes human life and what happens after the sod victory those are

the questions we'll be asking the cognition. quandary going. on d.w. are. told. the law. in nineteen sixty seven i'm crying the law passed. some people rebelled against their parents generation. if it wasn't honestly just full of stupidity and solutions going to be made to move closer to home to some of the a maelstrom of the subprime loans with the vietnam war playing the role of the margin. no you should watch the vietnam war every day. our documentary takes a look a lot of times the total of those who were under the members of the firm for the

first time had a feeling of being part of something. that. remains of those events today. too soon spoke civil rights of the peace movement and women's movement for most planned during this period. nineteen sixty eight look at. this we're going to double. take a look at the clip. the toddler. after seven years of fighting that have left hundreds of thousands dead and millions displaced the devastating conflict in syria appears to be moving toward a decisive battle russian and syrian warplanes have been bombarding the outskirts of it live in northwestern see.