discovery. subscribe to the documentary. all eyes are on italy and its political turmoil it's not the elections could bring victory to euro skeptics exacerbating the country's massive debt crisis also coming up with argentina deep in recession many seek job opportunities abroad it's hundreds in neighboring countries like chile colombia and brazil say they have received calls and emails intros from university graduates and high skilled workers . welcome to do business unlike a johnsonville in

a to have you with us it is the latest italian drama that has investors on the edge of their seat can italy form a government or will there be new elections possibly opening the door to the euro skeptic league and north party a victory for its leader. could also have huge implications for the entire eurozone italy has the 3rd largest g.d.p. in the euro zone right off to france and germany but its debt to g.d.p. ratio of 132 percent is much higher than that of other major eurozone economies so what happens when the markets lose confidence in italy's ability to rein in its massive debt no banks across the e.u. own loads of italian debt with 286000000000 euros in frogs alone means these banks are exposed should italy default on its debt and just the possibility of such as an aria. it is enough to put those under pressure forcing

them to set aside money and putting scrutiny on their bottom lines now then for more on that issue i am now joined by hold this meeting he's chief economist at bear bank bank in london hold this meeting good to have you with us obviously we're old enough to know that italian politics is known to be somewhat erratic and unstable is this what we're seeing now business as usual or a real crisis fortunately this is much more business than you are than a real crisis italy has trying to save governments fairly regularly and the chances are that this would be just another change in government without really upsetting the economy and markets much but because of italy's high debt every change in government or every political crisis does always carry a risk and worth looking at it exactly i mean talking about the debt if there were to be snap elections that would mean the government would not have time to approve

a new budget for 2020 and there's an interesting scheme that was introduced by the bear discone government years ago that would trigger and you will increase of the eighty's a value added tax unless there are other sort of saving measures in place in that case it would mean the 80 would come up to 25 percent next year that is not going to help spur growth. a big v.a. to increase would indeed be bad for the economy it's highly unlikely to happen whoever wins the election if there were to be elected hopefully not would probably find a way around it but the prospect of this if you rhetoric you happening is indeed a negative factor we need some resolution of the italian crisis ideally a new government fast to suit invest in the especially among intelligent businesses now let's stay with the bad case scenario that we do haass nap elections which by no means is impossible and that much of any would emerge as the winner of a t.v.

radio announced a huge spending program we're talking $58000000000.00 euros despite the huge debt what's that mean for the eurozone. it probably would not happen the thing is if you really were to win snap elections and were to introduce such a program born markets would make it very difficult for him to actually borrow the money for it and i think one markets much more than brussels and the european rules would force him to back down in the sense that he had seen a good year go with the outgoing government namely that a lot of their spending plans had to be watered down so that the increases in spending only came in small increments so we would have to back down in the end and just very briefly those banks currently exposed to tell you day how safe are they. at the moment they actually don't look too badly because italian debt has performed

rather nicely but if you hold italian debt you always have to set enough capital aside to be able to stem it stomach potential losses i hope the banks have done that i hope so to hold this meeting their chief economist at their bank in london thank you so much for your time. meanwhile he europe has started trading so let's cross over to oshkosh pandey at the frankfurt stock exchange i begin issue is easily where you are but monica there is a sense of cautious optimism aboard the coalition talks the your voice trading flat remember yesterday it was trading in the native territory that was amid concerns that the coalition talks my fear but ever since the sentiments have become a little more positive as far as the markets across europe are concerned they are all trading in the negative territory that's predominantly because of the session fears as being a hinted or signaled by the u.s. bond market the u.s.

born. which typically looks like this the difference between 10 euro and do your bonds has actually been warded and it's in water so it has finished actually in the negative territory the 1st time it has since 2007 and that's worrying because such an inversion has preceded all the recessions in the u.s. in the past 50 years right grim outlook there i'm sure to pandey from frankfurt stock exchange thank you so much argentina's peso depreciated by almost 2 and a half percent against the dollar on tuesday following a meeting between the international monetary fund and presidential election frontrunner i'll bet a friend mundus because for none does is highly critical of the current of sterett she drive that is part of an i.m.f. bailout program already many arjun times are seeking jobs abroad to escape the crisis at home gear will go the textile marketing professional who was offered a job in italy 2 weeks ago he immediately jumped at the opportunity his family of 4

is now packing up. if you know i mean i think i'd prefer to stay in italy permanently horrible and i say this with a lot of pain because i love my country and i feel terrible with everything that's happening but i want my children to have a good future and today i'm not seeing it in argentina unfortunately. many high skilled workers and university graduates were shocked after president morrissey a mockery suffered a crushing defeat in the primary election in early august that led investors to flee the peso which soon hit a record low against the dollar. headhunters in vsa advisers say argentines are now calling and emailing in droves searching for jobs abroad most of them don't want to go as far as italy neighboring countries are the primary destinations like chile where augustina bit to see move 2 months ago she says others interested in leaving are now seeking her advice and counsel many ask me how life is here at the salaries

are like the cost of living because they're obviously also thinking about a change. at the front runner for the general election in october is a better finance is the leftist leader of the opposition he wants to end the austerity measures put in place by mockery and raise salaries and pensions but economists say that that could put the country at serious risk of defaulting on its considerable debt and that potentially would lead to an even larger exodus. and some of the other global business stories making news. the maker of painkiller oxycontin is offering up to $12000000000.00 to settle of thousands of lawsuits over the us opioid addiction crisis hundreds of thousands of americans have died of overdoses since the turn of the millennium purge you pharma is one of several manufacturers and distributors being sued for their alleged part in the epidemic.

even masks commercial space travel from space x. successfully tested a prototype of a rocket it hopes will one day take astronauts to mars the star hopper was launched in texas on tuesday flew 150 meters into the air and touched down on a nearby landing caught up to 7 of them which power the mast found stosh. japan's decision to drop south korea from its list of favorites trading partners is taking effect today japanese companies now have to go through additional procedures to export over $800.00 products to the neighboring country it's feared some deliveries could be delayed by weeks or even months disrupting south korean production lines. fair phone is a minute on the smartphone market tech giant apple sells more i phones in a day than their phone has managed in the past 6 years but the dutch company

continues to hung in there and it is convinced that sustainability issues are finally becoming an issue with mainstream consumes you can take nice photos with it check your emails and of course make a phone call but there's one thing you can do with the fair phone 3 that you just can't with smartphones from apple huawei or google take it apart disassemble its components and swap them out a new battery for example when the old one is too weak or a better camera the fair phone's modular construction means users don't need to get rid of it when parts become obsolete again and it means they don't need to buy a completely new phone. when we added screws for example to make it more stable it contains more fair materials so we added a new responsibly source supply chains to to our product and also under recyclability we build further on our recycling program so it becomes more and more

sustainable and fair over time the fair phone 3 costs 450 euros and has an 8 core processor 12 megapixel camera and 64 gigabytes of space not exactly a bargain but the customer is also paying for peace of mind including an assurance that the raw materials in the phone the 10 tungsten and gold don't stem from dangerous mines with extreme working conditions but from transparent supply chains with worker protections or from recycled materials. the phones modular construction means the devices lifespan should be longer and that its components will be easier to reprocess into the raw materials that in turn lowers the odds it will end up in some trash heap in africa for example often the case with such devices so far fair phone has found only a small niche in the mass of smartphone market selling 175000 models since 2013 there's hope the newest model will broaden the appeal. yeah phone it's possible

that fair phone was a little early with the 1st and 2nd generations but now there's the sustainability mindset that's really enter the mainstream and that's why they could have a success here at the appeal for the phone has gone beyond environment minded consumers and into the wider masses on song on all the i think near quarter for growth is now the focus for a fair phone and with it the hope of greater sway over suppliers. and that wraps up your business update at this for me and the team in valencia thanks for watching.

s.o.s. europe the euro. crisis. gets to the future champions young champions. tour the country's. future.

do they stand a chance fled can they save the european idea. of my god i'm here to stand up for european values and contribute to something important to upset. the future of europe starts september 2nd on d w. hello and welcome to arts and culture we'll be looking at the winners of this year's m.t.v. video music awards in just a minute also coming up we'll be previewing the venice film festival which includes the premiere of the side by space epic astra starring brad pitt. and fiona bennett's so the stars including brad pitt actually buys a house designed by her in his abundance. if you

looked at the nominations for the m.t.v. v.m. a's this year the men didn't get much of a look in is what the music industry is all about at the moment with taylor swift and ariana grande dominating the awards with 10 nominations each also the video vying god award went to rapper missy elliott so let's have a look at who took away the big prizes this year. taylor swift won the m.t.v. video of the year award for you need to calm down the artist called out the trump administration for not responding to the equality act petition for l g b t q rights promoted in the video. rock icon missy elliott received a lifetime achievement award with the elliott is me on it tonight is one of my favorite entertainers all time and i think that this honors overdue and number is the 1st time she has an amazing heart but as an entertainer she was again saying so

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