tv Business - News Deutsche Welle November 21, 2018 12:15pm-12:31pm CET
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church or a list of hundred german plus treats. every journey begins with the first step and every language with the first word published in the. rico is in germany to learn german why not go with him simple online on your mobile and free to suffer from d w z learning course nikos fake german made easy. to at. least populist government wants to implement a budget that regulators in brussels don't believe it can afford is a collision course in evitable between the e.u. and wrote we get some expert inside to find out what's at stake and yes world the diesel cars end up the germans don't want to drive anymore here's a bit. coming from berlin you only have to refill once.
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i'm christopher caldwell welcome to the program a contentious budget brawl is heading for a showdown european commission is likely to formally reject italy's budget for the next year paving the way to unprecedented fines russell says wrong needs to rein in spending as italy's already huge mountain of debt could trigger another crisis you tell your government however insists on higher deficit spending saying it's the only way to stimulate economic growth and ultimately bring down that let's. early retirement the basic income for everyone promises that helped italy's governing parties win the election earlier this year especially with older people's votes many in this market want to see those promises implemented and hope the government won't bow to the e.u. commission you know you're almost if i have great confidence in this government so
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you know i hope they'll help us not like the governments of the past that have ruined us i believe in. italy's debt has grown over the years to reach nearly one hundred thirty two percent of the country's annual economic output or gross domestic product. it's the second highest in the eurozone after greece. the average for the nineteen euro zone countries is eighty six percent. should the government fulfill its campaign promises the debt would likely grow the twenty nine thousand budget includes deficit spending of two point four percent investor uncertainty is a growing concern the country already has to pay more to borrow and it could get more expensive a sign of crisis many fear over again i'm very afraid that with this government things will collapse the markets always provide a measure of how things will work out. and we can already see some consequences
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this is. what caught between the e.u. and the italian government breakers neither one. nor the e.u. commission is expected to pursue disciplinary measures against italy that could mean punitive fines and the freezing of e.u. funds measures that would soon be felt by italy's citizens. well for more i welcome to the studio mark as well he's a senior economist at the university of sound welcome to the studio mark has the word from brussels is still out what do you expect will happen well any other than decisive action against the budget proposal would be surprising and it would be wrong both politically and economically also well politically you cannot allow a country to to actually do things against what they agreed beforehand the older government and economically few seats one thirty five one thirty two percent of g.d.p. to debt ratio up thirty percent over the last ten years in this new production has
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just been back on the level of ten years ago so it really has this been the money in norway and that needs to be corrected and take over the political year for a second. italy says for example that france has that much more leeway when its budget was under scrutiny do they have a point where of course they do have a point that france and germany and other countries have. misled the budget proposal to as well but italy is in a different situation and we talking about one thirty five g.d.p. to debt ratio this is second highest off to greece and so we are running into a problem which is the greek type problem in italy and that's different to france and germany but the discussion obviously as you mentioned revolving around these huge debt levels that italy has however if you look at other nations like japan for example their debt level is even higher and they're going pretty well with it so what's the problem here japan is its own economies so and italy is part of the europe european economic system the euro zone and even though you may not like it
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you're not entirely free to do what you want to do if you are in an economic union and in particular if you have one single currency with many other states so that's a different attitude to japan of course. the cornerstone of this budget proposal is the so-called citizen's wage program which essentially. means that the government will hand out the total of ten billion euros to poor italians who are most likely going to spend it all isn't that an incentive that will actually stimulate economic growth yes it would do so in the beginning but deficit spending programs do always have two side of the coin so one is dispended and the other one is then the austerity into saving and governments you always forget the second part of it and if there is one country which is proven wrong that def it's spending doesn't work it's italy all right we have a fragmented economy in italy a lot of midsize companies what would be a measure to boost growth well you need to to find
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a way to to to boost and help did this one part of it to leave the northern part as well in shape i mean the region around milan away and feed ends of that starts that's a good and economic region and that the problem is that the southern part and the infrastructure and the government and obviously education and some other infrastructural things marcus finally the disciplinary measures that were expecting here coming from brussels they're pretty much unprecedented where does this whole contentious fight over this brawl of this budget where does that leave the e.u. and illegal for the need to find a face saving solution for both sides i mean the punishment the disciplinary actions. is one thing but it doesn't really help you the need to find a solution which can help italy as well as the european commission through the face of safe is to save the face of story mark as well senior economist at the
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university awesome gal thank you so much for your visit on your site. french carmaker has appointed a temporary c.e.o. following the arrest of carlos golden who is accused of financial misconduct chief operating officer cherry bomb will take over from gold he will also serve as chairman of both nissan and mr bush motors is taking the reins during a difficult time if i sometimes reports that mr gold was planning a merger between the handle and his son but that the japanese company is opposed to the deal and said mr bridger men would remain as c.e.o. and sees him only quote temporarily in the past. here in germany the market for diesel cars has crashed in the wake of folks wagons dirty diesel scandal concerns over air quality and dangerous levels of nitrogen oxides are mounting now a growing number of cities are banning diesel powered cars from their centers but
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germany's unwanted diesel cars have found a ready market in eastern europe countries which often are already struggling with air pollution. diesel is a highly popular in ukraine this folks has just arrived from germany it meets euro five emission standards some mechanics take a close look at it they know it will need adapting to ukrainian standards within a few months at the latest that's when they'll have to remove its catalytic converter too low here. without emissions control systems the diesels pump unfiltered toxic gases and particles straight into the air and because regular inspections for cars are not legally required in ukraine they exhaust systems can be manipulated without fear of detection experience mechanics can easily remove emissions control units under place them with a section of straight pipe this one comes from around zero diesel if the converter is clogged up the vehicle won't start. we hook it up with
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a diagnostic computer the problem is very often it clogged up catalytic converter sometimes we cut the converter out sometimes we can repair it most of these that amount of ip. ukrainian city of lots has a population of two hundred forty thousand the air is foul and eighty two percent of the pollution comes from cars and trucks there's an auto market here twice a month trading mostly diesels private operators import the cars mostly from germany diesels meeting older emission standards which are registered in poland or lithuania are treated as transit vehicles for up to a year only the later euro five standard cars are actually allowed to be imported. from germany worries about the environment and that's why the price of diesel does falling. germany understands its people and spends a lot of money on environmental protection can be in theaters from a couple of years but if you. throughout the city
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a number of stations are constantly measuring air quality. the results show that only two of the ukrainian cities have filthy air than here and now let's just filling up with substandard german diesels. the air will most certainly become. a few of. the environment. diesels have become hard to sell in germany and now the flooding into eastern european markets the germans have simply outsourced that diesel emissions problem. an extra portion of patients that's what people in the united states will need as the thanksgiving weekend is approaching travelers are on the move all over the country trains and roads are already overcrowded before the holiday on thursday domestic flights are completely booked millions of people all going to spend
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thanksgiving with their families and friends wall street investors will receive. from plummeting numbers on the stock markets and u.s. exchanges are closed on thursday and. on friday. and that wraps up our show if you want more i can as usual recommend our social media feeds to you do find us on facebook and twitter for now for me and the entire team here in berlin thanks for watching and have successfully.
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