Skip to main content

tv   Business  Deutsche Welle  December 12, 2019 11:30am-11:45am CET

11:30 am
the people of east germany. turned. clamors for a german. journalist for kusa to see. 30 years later it looks back on the. interest. starts december 19th d.w. . u.s. lawmakers agree on a bill to strengthen companies building north stream to the controversial pipeline is said to transport natural gas from russia to germany the bill has yet to be signed by president donald trump also coming up well will the new european central bank chief take europe's most powerful financial institutions to take a closer look at god. and the bad news keeps coming from boeing a former employee he testifies about production problems at
11:31 am
a boeing plant that may have been behind the 2 deadly crashes of 2 ill fated 77. i want to get jones in this business live from berlin thanks for joining us. the u.s. house of representatives has passed a bill imposing sanctions on the russian led gas pipeline project north stream to the new sanctions target companies that own the ships needed to lay the massive pipes the project depends on the bill has the potential to stop construction just as it's nearing completion is why. only a few companies in the world possess the technology to lay deep sea pipelines none of them is russian if they continue to work on north stream too they could find themselves cut off from doing business in the u.s. their assets there might be frozen and people working on the ships would no longer be allowed to enter america the 1230 kilometer long pipeline is a wholly owned subsidiary of russia's gazprom and is meant to transport natural gas
11:32 am
under the baltic sea from russia to germany directly circumventing ukraine the project is more than 80 percent completed and as opposed to start operating in mid 2020. nord stream 2 has the potential to double the amount of russian gas imported by germany the country needs more gas as a stable source of energy when it stops using coal and nuclear power. democrat and republican lawmakers in the u.s. fear that pipeline could give moscow greater political leverage over germany and the entire european union which the u.s. senate is expected to approve the bill by the end of the week and president trump said on wednesday that he will sign it into law this soon as possible. after some more analysis now i'm joined by your comfort energy expert at the german institute for economic research good to have you with us so please tell us how serious are these sanctions how will that impact the project. well these sanctions are serious
11:33 am
about the impact depends when the sanctions really come because if the president signed it might be beginning of next year so that the project might be already finished so i don't think the project is stopped now it might be a little bit postponed but it's a signal and i think this kind of signal the u.s. president wants to give to germany and to europe and what is the signal what what is he trying to tell us yeah he's trying to tell us that he wants to sell his so fracking gas so to europe and to germany it's simply like that it's a fossil fuel war where we are in between right now and we show that the president of the united states chose the world on different kind of angles in arabia but now also in europe and germany and i mean the pipeline has some criticism because it's very expensive we don't need it because the guest in mind will decline but nevertheless the u.s. sanctions are simply because they want to sell the african gas to germany so that
11:34 am
the much quoted political motivation is not the main driver here you say. it's a also political but it's mainly economic driver because the u.s. so one so frak their gas is very expensive they want to get new demand for it and that's coming from europe because it's so expensive but on the other hand of course in europe we have just signed this green deal that means that the emissions will go down and fossil gas with all the demand for fossil gas for decline in the future so that we don't need more pipelines like this we need more flexibility more oil and she terminals but nevertheless the u.s. is right in criticism what they simply want to do south africa gas i mean you mentioned it now if the project is controversial also human europe especially also eastern european countries are not at all happy about it why do you say that germany is so keen to to hold onto it to stick to this. you know it's a good question because germany really promotes the supply plan since
11:35 am
a decade almost over decades it's really unknown why they do it because so from the economic point of view we don't need this additional pipeline we have existing pipelines we need also to meet the european energy and climate goals meaning the emissions will go down we have to diversify energy and pause those pipelines contradicts all these goals so germany it's not it's not a good strategy but nevertheless i follow these kind of subtleties. for the energy expert at the german institute for economic research thank you so much for your time thank you it is the 1st european central bank meeting under its new head to christine lagarde the former international monetary fund chief took over europe's most powerful financial body in november and she promised a rigorous assessment of how the e.c.b. does business from handling inflation targets to fighting climate change. the new president of the european central bank wants europe's monetary policy to do more
11:36 am
for climate protection climate change has finally reached the main stream debate and is hitting the screen on of everyone who is interested in the future and house policy responsibilities so this really calls on us to review our strategy and to consider how our monetary policy can best deliver on its mandate but many analysts expect legard to continue her predecessors loose monetary policy with low interest rates and the massive purchase of government bonds mario draghi ensured that the weaker economies of southern europe could expand his efforts allow the euro to remain stable through the financial crisis but many savers especially in germany are annoyed by the low returns they're getting and even fear they will have to pay to keep their savings in the bank. previously christine legarde served as finance minister in france and then the international monetary fund for 8 years
11:37 am
gaining valuable experience as a crisis manager and that will surely help her as head of the e.c.b. . of a more i'm joined by maria de mer deputy director and to bruegel a brussel based economic think tank good to have you with us let's start with the european central bank itself what kind of band is legard taking over critics say that the bank overstepped its mandate under mario druggy is that correct the word overstepped in my ears sounds like they said he has done something wrong so he has done something illegal this has not been the case has not been proved so in other in other words i think has not done something that it was not supposed to i would argue however that they say he has overextended its actions it has taken. a lot of important measures to try and tame down the economic shocks that we've seen in the past 10 years and they were very big shocks so it's not surprising that they said we had to take extreme shocks to try and tame the economy i think they were
11:38 am
necessary and we will see some of that as we move forward but i would not agree with the fact that the city has done something that was wrong so it's like god now . being the new head of the e.c.b. where do you see room for change or improvement even. well i certainly see continuity this is a very big institution that has got a plethora of very good people working for it so there will be some continuity where i do see some changes in exactly what we have heard in the clip earlier on on this issue of climate change and what the role of these to be is in that portfolio climate change is very urgent thing and therefore every single part of the economy has to do their bit to try and tame that or even probably reverse it they say being in my view will take very serious actions on them is like got to try and contributes to the process i don't think that it will overstep its mandate will super suit the mandate of price stability but just like any other economic agent it
11:39 am
has got a role to play in greening financing greely the economy and i think that this is lagarde is very serious in that regard all right and with half a minute to go is the right person to head the e.c.b. we still got as you said she had been the finance minister as he has been the heads of the biggest of arguably most important financial institution in the world she knows the files see understand economics understand how these things works and importantly she's had also been a politician i think the way forward in economic choices will require brave political decisions and she has the political clout to try and contribute to that and i think she's very appropriate for the job right maria deputy director ed bruegel in brussels thank you so much. it's been a bad year for boeing 737 max jets and it's not going to get any better anytime soon u.s. regulators just announced that
11:40 am
a number of milestones need to be completed before the jets can return to the skies after being grounded following 2 deadly crashes and now a former employee is accused the company of ignoring chaotic conditions in one factory which could have led to the tragedies. as uncertainty continues to cloud the future of the ill fated boeing 737 max from washington comes a message of startling clarity from a man who knew the company's production lines as well as anyone i believe production problems at the written factory may have contributed to these 2 tragic crashes but i don't believe our regulators are paying enough attention to that factory and i'm calling for further investigation or formally warned boeing leadership in writing on multiple occasions specifically once before the line they are crushed and again before the ethiopian airlines crash well potential airplane risk due to the unstable operating environment within the factory those warnings
11:41 am
were on ignored did yourself 24 head pearson worked as a boeing production line manager at this plant in renton near seattle he told u.s. lawmakers that the factory was quote stressed beyond anything in his experience he wants the production facility to be thoroughly investigated by the federal aviation administration his words have put pressure on the regulator which has been criticized for not being tough enough on boeing in the wake of the crashes none the less any hopes boeing had that the 737 max would be cleared to fly before the end of the year has been dashed by the f.a.a. who now said the plane will not return to service before 2020. in total 346 people died on the fatal crashes in indonesia and ethiopia both crashes were caused by the same defective flight control system used in the 737 max. the u.s. federal reserve has left its benchmark interest rates steady and signaled that
11:42 am
borrowing costs are likely to remain unchanged through next year fed chairman jerome powell said he believes the central bank's current monetary policy will support sustain growth a strong labor market and keep inflation is a target 2 percent rate of the fed's overnight lending wage will remain between 1.5 and 1.75 percent from the position follows 3 rate cuts earlier this year 3 balls you likely appropriate and that is your business update here on d w at this hour well for me and the team member thanks for keeping us company.
11:43 am
what secrets lie behind. discover new adventures in 360 degree. and explore fascinating world heritage sites. w. world heritage 316 get tapped now. welcome to the euro max you tube channel. goodbye no story.
11:44 am
with exclusive. the must see concerning culture in europe. to be curious minds. do it yourself networkers. so subscribers don't miss out. and that's why things are almost all the. fights this is not as if i would fall to the home this is a scene from when hitler stole pink rabbit a new film from oscar winner carlin a link which has cinemas of this christmas. hello and welcome to our culture the film is based on the bestselling children's book of the same name by british author judas carr the story deals with the refugee experience of jews in
11:45 am
nazi germany told from the viewpoint of a 9 year old girl his ball. for president in this program the time come you know vice this. doesn't seem a. good start. when he took his entire. speech on the. killer wins the election the family narrowly escapes arrest by the nazis leaving everything they have behind they flee across europe to freedom. and what finally convinced me to make this movie was that i found this perspective so unique.

28 Views

info Stream Only

Uploaded by TV Archive on