we're asking people not to feed the pigeons and that's because by feeding the pigeons in the square we're making them sick. they're getting sick because of overpopulation there's a large population of pigeons. pretty scenes like this a part of local tradition for the time being at least pigeons look here to stay. there are those that next. i'm not proud of they will not succeed in dividing us about oh not succeed in taking the people off the streets because we're tired of this dictatorship. taking a stand global news that matters d. w. made from mines. frankfurt. international gateway to the best connection self in the road and rail. located in the heart of europe you are connected to the whole world. experience

outstanding shopping and dining offers and trialling services. be our guest at frankfurt airport city managed by from. the. european union agrees to curb car emissions by thirty five percent in the coming years why that is a challenge for german car makers and will it really make any difference in the big picture of global carbon emissions. and this ability of the global financial system is under threat that's not just me saying that's that's the stark warning coming from the world bank and the international monetary fund after lowering global growth forecasts across the board. this is the. work on

the e.u. once cars are built in europe to emit thirty five percent less carbon dioxide by twenty thirty that's what european environment ministers meeting in luxembourg have agreed on. the rift between eastern and western europe germany backed by eastern states fiercely resisted the forty percent cuts which have been voted for by the european parliament last week luxembourg the neverland nordic states none of which has a car industry have pushed for even more ambitious reductions. the german automobile industry is furious they say the target of reducing carbon dioxide emissions by thirty five percent is totally unrealistic unfulfillable according to the d.d.a. automotive industry association they say manufacturers have already exhausted all available fuel saving technology now jobs and industry are in danger. in the

negotiations some countries like ireland for example suggested reducing carbon dioxide emissions by half an easy demand when one has no domestic auto industry but even countries like france and italy with important car sectors lobbied for significant cuts. responding to the news german chancellor angela merkel adopted a conciliatory tone so does this i need it's good that there is an agreement and even have because if there hadn't been one the european auto industry what it has had an uncertainty out of the european election and that would have sent a good signal all in all sorts of justifiable result good reason i listen. in for to pass because they're tied to. the stricter the targets the greater the pressure on manufacturers to sell more cars with zero emissions such as purity electric vehicles but as yet german manufacturers don't have much to offer in that field and they don't have much time to catch up with a game. as we've heard in that report germany's carmakers are predictably unhappy

about the new reduction in emissions targets my colleagues and all the milan caught up with the president of the german association of the automotive industry in berlin today you've called these goals over ambitious now what do you say it is incumbent upon industry and regulators to be able to achieve these goals in this time frame onto twenty thirty a reduction down to a thirty five percent that is. too much and needs a framework that really works especially when it comes to charging points for example seventy five percent of all charging points in europe in only four countries of twenty eight. but all of these cuts have to be ambitious in order for them to have any effect that is true and we are we are for ambitious goals that's that's for sure but they have also to be feasible and we have to have to be achievable then it works if they are not going to be achieved we are not going to achieve climate control. chancellor angela merkel for her part however has said

that these targets are defensible do you see any benefits to this deal. i see a good benefit for us because the german automotive industry is leading when it comes to alternative fuels when it comes to alternative power trains when it comes to electro mobility we're spending forty billion euros in the next three years we will triple the product line that we are offering and we are already market leader in europe but yet was it germany that wanted to make sure that these cuts weren't as severe yes because germany is convinced and i am convinced to ability thank you very much you're welcome. luxemburg leaks out of a paper paradise paper there was a string of disclosures that put a spotlight on large scale tax evasion by companies and wealthy individuals just in the last couple of years the european union loses tax income to the tune of seventy

billion euros every year to those tax organizations like the g eight of the g twenty have introduced a string of new measures and agreements to tighten the last remaining loopholes but very limited success as it seems. they may look like holiday havens but tax havens are mostly about money they're minor countries usually exotic islands with low or no tax regimes an ideal haven for those seeking to avoid their own tax authorities . first the problem grew so big it could no longer be ignored politicians finally took a tricky tax arrangements but a study by the german institute for economic research the g.i. joe shows they've had little success since the global financial crisis ten years ago the world's countries have signed over three thousand bilateral treaties against tax evasion the trouble is the tax evaders don't respond by changing their ways and coming clean further ways to hide their incomes. the study shows that

despite all the treaties the amount of money by passing the tax man is increasing the w. says it's essential that countries do more in the fight against tax fraud. one of the authors of the report. from the german institute of economic research and joins me in the studio and you say that measures against tax evasion still not working after years and years and years of good intentions being displayed by all these organizations the seven g. twenty why is it still not working well first of all you have to see that the good intentions are not taking place on all sides so you have tax evaders who have good intentions your financial service providers who profited and because there are facilities who don't have good intentions and you do have this is it banks but also consultancy companies for example are usually in conjunction. and you have. tax havens for example. which make it possible on a large scale to circumvent any new regulation that comes about and you also have

to see that when the international community started to try to regulate international tax havens when a national tax evasion and they were really far behind the curve so the intent of the financial constructs that were being built a broad. very complex already and first initiative of the o.e.c.d. that we analyze no study information exchange was really very blunt the country had to know where to look for a person they had to know who that person was and then if they had a treaty with a country with a tax and then they could ask for information and some of these treaties really didn't work very long so who were the biggest culprits then. first of all rich individuals those are the people who evade taxes in high tax countries across the board second the countries that use tax havens the most are countries like russia or. or countries in the middle east usually there's a record in there between corruption and the use of tax and third of course facilitators of tax havens offshore financial centers all of the the ones you just

mentioned the group in islands of course are important but also large european tax havens switzerland luxembourg come to mind for example matan cyprus are big in the game and asia is rising so we have to look out for macau hong kong singapore in the future. so what needs to happen immediately seven has been added the g twenty have member communiques being issued about closing down tax havens what needs to happen now first of all there has been progress tax evasion is more difficult now it's more expensive. likelier to get caught as high oh. it's just that you know as i said the to twenty started fall behind the curve so we're still a little a little bit behind of the tax evaders are doing at the moment and there are new tax havens moving in to provide opportunities to circumvent vente the new rules the common reporting standard of the o.e.c.d. for example by selling citizenship and tax residence. and what needs to happen first of all the collar reporting stand and has to be seriously implemented by everyone and that includes the united states which are not part of it at the moment

and i actually looking like a texan themselves in some regard. but it needs to be closed internationally and also that needs to include developed developing countries which have a hard time implementing it and second we need. things like a global financial register to see where funds actually i hold and we need to know the beneficial owners of companies of corporations and the likes but there's progress that's just not fast enough to our progress what about britain there are people who say that britain are keen to become a new tech side even as soon as they leave the u. is there anything to that. britain clip plays a very peculiar role in the international system of finance because of its crown dependencies goings ages of the isle of man and all this is territories cayman islands bermuda you have a lot of tax savings and a lot of the funds in these tax havens are channeled via the city of london and then shall go further into the use of britain is already very active in this business i don't think that the threats of the reason may about lowering the

corporate income tax have a lot to do with tax evasion i think that's more a bluff so i think they're threatening with that but in general i would say britain doesn't understand its own role in the offshore industry if they think that by lowering the corporate income tax they become more of a tax. meter thank you very much thank you. the financial system is becoming increasingly unstable that's the conclusion of a report presented at a meeting of the international monetary fund and the world bank taking place in indonesia trade tensions especially between the united states and china one of the greatest threats to stability bathrooms also warns of the risks of rising debt in many of the world's emerging economies the prospect of britain leaving the european union without an exit deal is also considered a threat to financial stability. that's it for me and the business team here and berlin today will have an update for you

in the next hour and of course there's also news at the top of they are in the meantime. twitter and facebook feed or a website which is of course the w dot com slash business for many more stories on the business on the news before we go is a real time check on global markets apis out thank you very much for watching developing a business. entering

the conflict zone confronting the powerful really one of the expected a breakthrough for the moderates in both his latest elections pretty good to me disappointed my guest this week hearing by your looks is not going even h. a veteran politician who lost his seat on the street presidency to a hardline rival goes we're heading backwards into political deadlock conflicts for . d w. o o. o.

isn't it time for. africa people have projects that are changing our parliament for the better. good or for. let's inspire. magazine. on d w. and list all consuming conflict over our culture. but china is still trying to determine its outcome. in negotiations last year's mediators succeeded in triggering and. it was the birth of modern

diplomacy. sixteen forty eight. starts october twenty fourth g.w. . if anyone who thinks back to the breakthrough for the moderates in both his latest elections they've been bitterly disappointed especially in the sort of entity the republika srpska my guest this week here in by your look is not going even h. a veteran politician who lost his seat on the state presidency to a hardline rival is bosnia heading backwards into political deadlock and violence.