if the. excitement. is. not. the 90 wins. the results on the challenge. will the eurozone finally get a real budget germany has always been opposed the you finance ministers now say yes at least in principle many questions remain unanswered most importantly who will play and how much. bitcoin is back after crashing spectacularly last year the virtual currency has surged to dizzying heights once again is it now safe to buy. visited of you business i'm going to have alphas in berlin even

finance ministers have created the outlines of a euro zone budget and what they say is a breakthrough by creating an operational budget the ministers hope to help member states that have the euro as their currency to move together economically and become more competitive the big question though is how large will the actual budget be and crucially where will the money come from the exact sum is yet to be determined the agreement is a watered down version from french president in the run it will not coles vision for europe who had called for a multi 1000000000 euro e.u. budget almost 2 years ago but have been met with a strong opposition along the way. now let's bring in our europe correspondent barbara visible from luxembourg barber there's been talk about that budget for years is that now finally it. it is it's there is some sort of a budget but it's not even supposed to be called that it's called the budgetary

instrument because the netherlands who with the main enemy of the french here in this fierce battle where it against calling in that because they thought it could have wider implications the basic fear behind this fight that has been fought throughout 12 hours throughout last night here in los burg at the table was the finance ministers was willed money flow from the north the fiscally responsible countries to the southern wall flip lose or let's say fiscally responsible countries like italy and maybe some others so the netherlands particularly where the spearhead here if fighting against it and shrink wrapping president microns version of the european budget into something that is now so tiny if you know how do you see it anymore. they have agreed on a on a quote structure of management for the budget but the key question where will the

money come from who will pay for it and how much is still an answer any indication about that it is. it is an answer because again the dutch they're fighting against of putting tax money into it because they were suggesting that the new digital techs who are there the financial transaction tax are the new sources of income could be put into this budget and that would mean that it could secretly grew into real budget because the only figures that are being thrown around here are 17000000000 at the moment and that is not only not a big bazooka that is large and not even it peashooter in the strands of european money. in luxemburg thank you very much. and at that meeting in luxembourg he'll finance ministers not only talked about the block's food future budget and other reforms italy's debt dominated the sidelines of the meeting the euro zone's 3rd largest economy at least fiscal health has been

a particular source of concern the euro group is worried about how it could affect the stability of the block as a whole. the euro group's message was clear rules applying to everybody euro zone countries are not allowed to pile on unlimited debt and risk fines if they try it's another flashing warning for italy. we are ready in case to move on to its own exhibitions procedure put it and we are on track 2 days on the other step. the step that i think clear and the confirmation the support of the ministers will be here but still avoidable and everybody wants to avoid italy's debt stands at 132 percent of g.d.p. this year more than double the amount allowed under e.u. fiscal rules and italy has not been able to make good on promises to correct its course a difficult situation for europe's finance ministers they have to achieve

a balance between ensuring that deficit procedure keeps italy in line while avoiding a showdown with rome that could endanger you. p. and unity. and now to some of the other business stories making headlines this morning all prices have risen further on friday continuing thursday's trend brant crude saw a temporary 0.9 percent increase but has flattened a bit since the days peak oil prices had surge by as much as 4 percent following an alleged attack on the 2 all tankers in the strategically important strait of hormuz . german chemicals make a bio will invest billions to develop an alternative to glide for sates the key ingredient in its controversial with killer round up over the next 10 years the company wants to create a more sustainable product by has conceded it needs to make changes but insists life as a it is harmless. the home of foreman the sun and rain overalls colors

go on has been raided by french anti fraud police local media say the search was part of an investigation into guns lavish marriage celebration at the palace of the side goannas already facing charges of financial misconduct and is awaiting trial in japan. remember bitcoin in its search to dizzying heights of around 20000 dollars last year only to crash spectacularly at the end many investors got burned and turned away for good but crypto currencies had a remarkable start to the year the original and most valuable among them is bitcoin more than doubled in may surging to breach the $8000.00 mark leading analysts to wonder if it could eventually hit $10000.00 soon although it's leveled off somewhat since then at the 1st as the 1st and most widely used crypto currency bitcoin has become the standard for digital currencies its so-called block chain technology

that is the centralized peer to peer network has become the backbone of a host of other cryptocurrency is such as light color and ethereal zip. sash and dash many experts say bloodshed based currencies and other financial products are the future some say they could even make banks completely obsolete what's more some major corporate players have said they're interested in introducing their own currencies facebook is expected to launch one soon and u.s. bank j.p. morgan has come up with something called j.p.n. calling. process of the products already on the market there's no doubt that bitcoin is leading the way with its increasingly being used in the same breath as more traditional currencies if you watch all ticket here on the street you'll see you've seen bitcoin a moment of the other currencies like the dollar and the euro for some time so where to go with bitcoin is it just a toy for adrenaline junkie trade us as serious disruption to the way we do business let's bring in someone who knows

a thing or 2 about bitcoin front of us she's the head of star g. development at casa that's a crypto security company and i welcome to g.w. 1st of all very briefly what does cause i do provide security services and advisory software and hardware a complete package for people who wish to invest in bitcoin and feel secure ok bitcoin why is it so takes is it taking so long for bitcoin to to get a stop list i don't think it takes a long it's only been 10 years and we have roughly well that's a roughest nation about a 100000000 users our own there's at least. and when you compare these clinton early internet or early computers right in the sixty's who had computers i.b.m. and they filled entire rooms and then in the early eighty's how many of our friends had computers so it tucu know at least 30 years for the technology to get adopted

and i think compared to that basically is doing much much better much faster but when will it ever be mainstream when one bullet be say for ordinary investors oh well ordinary investors need to know that they only invest the amount of money that they can afford to lose or that they don't immediately write whenever you invest you take a certain bet a certain risk and that comes with the yield. although bitcoin is volatile it's a gray. or to 90 because no other acid gives you the healed. but it has to be risk this is one want to be able to manage their risk and this is a more difficult with a big condom with one another and you combine your investment portfolio you don't put so all the eggs into one nest right so you take a person teach they think is fair and want to bet on the different strategies but

how can you predict when bitcoin is going to go i mean if you look at for example the oil price what's going on in the strait of hormuz at the moment it has an influence on the all presidents very easy to understand what influences bitcoin scarcity so there is there's only ever going to be 21000000 bitcoin in the circulation which makes it way more stars than gold and way better than any other government issued currency if you compare it to currency it doesn't suffer the inflation that all the other. money suffers. you're working for crypto security for for a man because it is often associated with criminals with money laundering with fraud with buying drugs is there anything to it why is bitcoin so interesting for these shady circles i don't think it is though i think. it is not autonomy. which means and it's very open and quite traceable

now so until we have privacy by default implement anything in the between system it's pretty fairly traceable so criminal groups are more likely to use the banking system such as you know the downs bank recently longer one off is that longer $230000000000.00 so it's a much larger systemic risk and that's why the key why c.n.a. mail measures are in place for the banking and are not so much. for debates going space very briefly where will bit congo how how far will it go. this guy still inmates people said $400000.00 that was one of the predictions one of the one of the most conservative ones $80000.00. i'm terrible at for the thing i thought will be 2000 last year and a way higher so please don't ask me there's people who. estimate $100000.00

mark by next year because of the whole thing that's that's coming. out of i thank you very much welcome to the studio thank you as well. that's it from me and the business team here but then for more business news across stores check out our web site c w dot com slash the business in time thanks for watching state june 2 days w awesome culture is next right after this quick local global markets. that's very much for what might.

come to the news. channel. who might have stood. with the exclusive. must see concerning hard drive. to be curious minds. do it yourself networkers. subscribers and don't miss out.

and on demand. language courses. and. hi there and welcome to news from arts and culture and will start off with a look at what's up for grabs at the art basel the world's premier art fair on until sunday in switzerland and also coming up. sandra roya is a virtue also a violinist from southern germany who's equally at home with classical or jazz and that is thanks to team roots. and see

trekking is a way to explore the world's wildest coastlines and feel quite literally at one with the elements. well there's only a handful of living artists whose works command tens of millions of euros jeff koons is one of them and if you have that kind of cash you can actually buy one of his pieces at the art basel and what's the world's premier art fair that just opened its doors on thursday where 290 galleries from 34 countries are peddling their wares and sales from last year tell us that the global art market is booming so for serious collectors it's the place to be. come to art basel with a suitcase full of cash and you can shop around in style. called or. go.