so sad to. live in countries like greece spain italy or ireland are growing increasingly angry one because of the harsh austerity measures that were imposed there after the eurozone debt crisis. then there's you they can meet. those countries accepted those measures in return for loans from the e.c.b. and other e.u. countries to help them get their economies moving again. so the bank bailouts are added to the debts of governments corporations and individuals. it also undermines the confidence of average citizens to sign it and that's one of the big lessons of the global financial crisis is to ones in the music in our banks and investment firms took big risks they said if it goes well it will make a huge profit because if it doesn't interest taxpayers will get stuck with the bill that's the authorities have to deal with this imbalance and crackdown hold of them i did before us right now banks and other financial institutions was doing making

risky investments because they know they won't be called to account. that certainly appears to be the case. bankers hardly ever face criminal challenges and convictions few and far between. it seems that society is prepared to tolerate this kind of behavior average people pay their taxes but the big banks promote tax evasion schemes for the wealthy. to a certain extent it's been a story about the elite protecting itself so most of these products in themselves were not actually breaking the law because they were designed to exploit weaknesses in the law quite deliberately and they were designed to supply weaknesses in the regulators the rules as well when you look at a. like

a contract for an asset backed security in the 1970 s. it might have like 4 or 5 risk warnings for investors when you look at a similar document in 2007 just before the crisis it's now 3 in the pages long rather than 50 pages long it might have 60 or 70 risk warnings so the lawyers once they figure out that something might be risky they will write this in the contract basically telling investors watch out but the investors never read what i read it only once the crisis hits and the laws of course have made sure that they themselves and their clients are protected by disclosing what it was. last isn't unusual they use mathematical models that are supposed to be innovative but they are actually used to evade taxes and get around regulations this is abuse on a grand scale. than doing evil secret once again we're dealing with a double standard and let's be honest this situation fuels populism and undermines

democracy it actually damages democracy democracy so i thought i did a class. on what do people do when they're angry and feel left out of the democratic process and they vote their ass goals out of office and replace them with politicians who promise them the world but do nothing to promote harmony and consensus this in turn leads to instability in the financial markets and could trigger a crisis. the current atmosphere of political instability comes a time when it's never been more important for the world to address our biggest challenge climate change. some experts say that we only have 10 to 20 years left to save our planet by radically changing the way we produce and consume energy. these measures could cost up to one. trillion euros

a year in europe and. finance is part of the problem in the climate crisis because finance goes after the assets that produce the greatest return and if oil coal or any of these assets produce returns then investors will go and invest in these assets and share price increases others will follow and the companies can expand and have the resources to see exactly if we're serious about the climate change push we need or whatever it takes moment we need central bankers to actually creatively employ the enormous power that it's their disposal that's could easily be part of the solution will government spend as much to control climate change as they did to bail out the banks. shouldn't we demand that they do this. to do with the dusty. soon enough shifting also demand you stead of just buying back securities at

random in financial markets the european central bank could use its monetary policies to promote activities that could help prevent climate change or do social inequality. in the getting. a fully deal to consult you fully do you number states should encourage the e.c.b. to direct its monetary policy towards achieving these goals if it is objective it. forces the financial sector became the driving force behind this transformation. some financial experts are getting on board with these new ideas. to get out on their books $100.00 pathetic not counting a few years ago mark carney who was governor of the bank of england at the time gave a surprising speech. shibley said that he was concerned about risks that people in the financial sector are taking do you think but he was even more concerned that one day because of global warming their clients will be hit hard by climate change and. won't be able to pay their debts be said that failure to deal with global

warming will lead to instability so the financial sector has to take action. added that regulators including himself will keep a close eye on in the future to please not replace goof with. measures to limit climate change will be expensive one u.n. official put the cost at $300000000000.00 a year that's the mountains doubled in this than 2 decades some in the financial sector now realize the threat posed by climate change there's a whole new branch of finance developing which is trying to take a much more responsible vision of finance and they're doing that partly because some bankers believe in it partly because many of their clients and they want to basically reshape the image of finance in the 21st century but also because people are realizing that issues like the environment. on the prices of assets going forward and the financial system have to get ready you can say being cynical that

that's just a kind of cynical game and people are doing green writing and pretending to embrace these ideas or you can say actually revolutions happen when more people think it's dangerous to stand aside than to get involved but. so what if we're wrong on the financial sector is not our enemy it could turn out to be an important ally as we meet the challenges of tomorrow. what role can individuals play in all of this. it's not enough to know how much a $100.00 euro investment will yield at 10 percent a year is it possible have to study the financial system and learn how it works. need to learn that banks play a key role just like the money that we invest with those banks. it could lose it all will have to take an active part in the democratic debate. about the future of

the financial system is what i feel the risk of a book a v.c. find out more about which markets your bank invests and it seek to take a look at your bank's ethics policies and if they don't match your values switch banks on the over there that's pretty easy to do these states. fairly just feel it's crucial to improve people's understanding of the financial sector and team out to mention many don't realize that if they don't know how the system works they can't invest their money properly to answer me. what's the best way for people to educate themselves about the world of finance the textbooks are much better than they were 20 years ago but today there are other ways to learn like a visit to this interactive museum in paris but what are these economics students think about the current state of the financial sector but they consider a career in finance shark past several days each terminal corresponds to one player

in the economic cycle. if one of them falls it can knock down the others this is why terminal represents the financial regulators they can put a stop to this chain reaction in. the memories of the crisis have definitely danton down some of the crazy extremes and taught a new generation of finance is to be a bit more cautious. of what every educational program should include courses on deontology and ethics and not just theoretical principles but analysis of specific financial scandals you could cite examples of conflicts of interest and ask what would you do in this case to still feel. i. don't know the financial sector needs to improve its record on dealing with issues of ethics and it also has some catching up to do when it comes to gender. quality in their

d.n.a. could you see yourself working as a trader did they are it looks exciting but it's not a job for a woman. do you think women can make such decisions so more on health care they can . can you imagine making those kinds of decisions sponsor this is your vision as much as i could but i wouldn't want to work with people who don't share my values forced to defend. traditionally financial trading floors have been dominated by men mostly white men and that tends to lead to an excess of telstra and risk taking and potentially negative behaviors but aside from that having just one type of person on trading desks means that you have again tunnel vision but the good news is there are more women coming out to silence and that is definitely to be celebrated in maybe one thing that helps to give a slightly more balanced perspective just silence the coming years. 98 percent

of the world's banks are run by men but more and more women are breaking through the glass ceiling and moving into the top ranks of global finance like e.c.b. president christine legarde and u.s. treasury secretary janet yellen. it is now that's a load went revolutionize the financial world. but we can hope. it's not likely that the world could handle a new financial crisis right now there are 2 options we can continue to widen the gap that separates average people from financial institutions or we can return the financial world to its rightful place where it can help pass to build the society that we want but we can't do that without the bankers and we have to get involved oh no where do you see. the. good true or do you see squat do i

see. what's this a crystal ball. so i'm a psychic now. at the moment. because well what do i see. for how many years any. i know when i see a wonderful future i think we're way too pessimistic. when i see people rebelling against the financial system because they no longer wanted to destroy our present and our future of the ego's place and it won't have to wait as negating the system will continue the inequalities will increase and so will the protests so social buffel same all this will not encourage progressive forces in our society to spend on the society i also see a world where technology companies may end up finding the next big shift of finance

and frankly what people on facebook and home i'm going to push on what i see is a soul what i see is what is taught what i see is whether what i see is that constantly churning and those are natural images and i'm hopeful because the natural flow for the whole state cressida bonas simulation down from the scene i mean relational to not financial crises all relatively small. claims. endless frontin. the unfinished business model insists that companies are sensing gold rush the engine future markets with massive potential in space. science fiction. it seems. made in germany. on d w. a little guys this is the subject the 7 percent is the

platform for this new t.v. shoes and sure i guess. we're not quite. the young people did we have the solutions good few jobs gnomes. the 2nd. the 7 percent now include on t.w. . about this issue when i arrived here i slept with 6 people in a room for the burn through my arm it was hard i was for. i even got white hair. and. the german language head nodding off this gets me a little push maybe 2 in trucks would say you want to do their story. hurrying up reliable information for margaret.

this is g.w. news law from berlin the crushing impact of the pandemic on human rights activist international paints of the grim picture in its annual report to saying already vulnerable people have been the hardest hit while some governments accuse the coronavirus to stifle dissent. also coming up one of europe's worst hit countries has bounced back from a devastating surge of the coronavirus earlier this year we look at how portugal did it. and the e.u. and turkey find common ground a recent thaw in relations brings president to want to talk to officials together

for face to face talks but human rights are a major stumbling block. plus one of the hottest shows on earth gets even hotter 2 new fissures have opened up at a volcano near reykjavik spewing lava and centering hundreds of sightseers scrambling for safety. i'm sumi so much gonda it's good to have you with us amnesty international's annual report says covert 1000 us further amplified massive global inequalities and it accuses many world leaders of using the pandemic to crack down on human rights the report singles out 3 groups that have been disproportionately affected 1st women they have suffered an increase in domestic violence borne the burden of home schooling and in many cases lost their income because they had informal jobs that

they couldn't do under lock downs 2nd comes health workers around the globe they have suffered more fatalities than any other group chronic under investment and health systems means that many hospitals are understaffed and their workers are not sufficiently protected against the virus and finally the pandemic has also worsened the already precarious situation of refugees and migrants lockdowns of border closures have left some trapped in squalid camps without access to vital supplies earlier we spoke to a sound of ballet a research and advocacy director at amnesty international and he told us just how dire the situation was. it is as bad as it gets. deleted out those who would like to give us a most or what did that at least and those who are macho guys would be exposed as the last and bucyrus of the examples this situation of if you sent my guts in far too many countries the situation in which 3 bridges in my work was even expounded

by by these bondevik take a look at the examples for us border with mexico where about how to fix and micron's what expected from the conflict including this of the 1000 unaccompanied children let's go to uganda only for $1400000.00 refugees as close to 4 durst strontium go that $10.00 and if you do something on the border was d r c and that as it is it parked on him for work or schools would be in the economy. is it not workers who are left without any. more social petitions that it and mind you most of these are the women who will take it off on a nice and but what if it does out a nice push up. and speaking of a woman in 22 if you also showed us a marked increase in domestic violence as

a result of look down for it at all because of lack of adequate protections by. as we just heard a spike in violence against women and gender discrimination are also documented in the amnesty report we now have a closer look at what activists are calling an erosion of women's rights in poland lawmakers have approved a draft withdrawal from a european treaty seeking to end violence against women known as the istanbul convention the measure could open the way to a total ban on abortion. when polish doctors told paulino that her unborn child hit new keep knees and would die upon birth she had few options as of january new legislation has come into effect allowing abortions only in cases of incest rape or a threat to a mother's life. is one of the very few

women in poland who has since found a team of doctors willing to attest that giving birth was a threat to her health and her abortion went ahead. but the symbol of. these people are heroes that they aren't afraid of the consequences of the sick country that they live in. their brave. and they're here to help people and not to serve politicians. and women's rights are under even further threat in poland lawmakers have approved a draft law ordering the country to withdraw from the is tumble convention on combat in violence against women paving the way for an alternative treaty that would ban abortion and gay marriage critics say the move would legalize domestic violence does not affect the troops if you let's compare what you decided just a moment ago is home violence permission this is

a green light for torturers so this is a permission to terminate an international agreement which protects the victims of violence you said to the girl yesterday when you show the map. one in 3 women has been a victim of physical or sexual violence a recent study finds the istanbul convention's primary task is to prevent violence against women but although the text of the convention has never changed populists in countries like poland turkey and hungry have been politicizing the convention for their own political agenda. in poland last year hundreds of thousands of women took to the streets against the new abortion law and the curtailment of their rights those protests have continued despite the threat of covert and a heavy police presence. i went to the protest together with all my friends because we knew we had to show we do not agree with what's going on. but

none of us ever thought that just a few months later i will be in the situation yep and. as long as the situation for women in poland continues to deteriorate i will not stop fighting what she sees as restrictions on her basic rights. now to some other stories making headlines around the world naipaul is experiencing its worst wildfires and in almost a decade huge blazes have been raging across forests in the himalayas a monitoring site rank air quality in the capital kathmandu is the worst in the world international flights were delayed as they smoke blanketed the city. alexina all these doctors has been briefly detained after trying to visit the jailed russian opposition figure police also bundled journalists and supporters into a bus and of ali who was on a hunger strike has said he is suffering from severe back pain fever and

a heavy cost. iran and world powers say they held constructive talks in vienna on tuesday european countries are mediating between iran and the united states in an effort to revive the 2050 nuclear deal the trumpet ministration walked away from the agreement in 2018. at least 16 people are dead after 2 buses collided in northern mexico officials say all of the victims were minors aboard a minibus more than a dozen other people on a larger tourist bus were injured in the accident it was not immediately known what caused the collision. brazil has reported more than 4000 new daily deaths from covered 1000 for the 1st time the nation's pandemic death toll is now approaching 340002nd only to the u.s. experts say a local variant of the virus has caused the latest surge which has pushed the health care system to a breaking point right wing president charles n r o has also opposed lockdown measures as damaging to the economy but many of

brazil's poorest citizens are crying out for help they say the government's pandemic response has failed them and without more aid many risk going hungry. these protesters a sending a message to their government brazil is hungry. here and sao paulo's largest openness residents say emergency aid doesn't go far enough i really doubt that it's there though my fear is that my daughters will go hungry one of them still under 18 . this is also my granddaughter and i think to myself well they go hungry and that will that but far from up until december the brazilian government provided those in need with around $1000.00 euros per month in 8 community centers like this one of been offering free meals but donations have dropped president both scenarios administration is once again offering help but a more modest amount

a community movement known as g. 10 is demanding more. for similar thought since in point perhaps the emergency a lot of $23.00 euros is enough to buy a domestic gas cylinder 5 kilograms of rice and one kilogram of beads a family can survive a month on that it's shameful brazil is a rich country and letting its population go hungry and the pandemic is still out of control brazil is a country in crisis and there's not much light on the horizon. germany's health minister yen spawn says the country's 3rd wave is growing he is calling for a nationwide strategy to tackle the coronavirus pandemic meanwhile the vaccination campaign is picking up the shots are now also being administered by family doctors and general practitioner practitioners authorities are hoping this will give the campaign drive a boost to inoculate as many people as possible at the same time there is still an

ongoing discussion about whether to impose tighter lockdown measures but varian state premier mark asserter said he would support a hard lock down if there is a unified response. he continued i could well imagine a short rigorous lockdown but that only makes sense if everyone does their part so it's inconsistent across germany with some doing it like this others like that it won't work i've said for a long time that i could imagine this but it's also obvious that it has little support from the states run by the social democrats and unfortunately even after i'm in lashon took charge of the party many christian democratic states have also reacted with a great deal of hesitation. let's bring in our political correspondent thomas sparrow who's following the latest developments on the story for us hi thomas let's start with the situation right now with the virus because i see you staff here are warning that there are not that many beds left so how hard is this 3rd wave hit in germany. and it's not only about i.c.u. stuff coronavirus cases are also increasing in germany the 7 day rate very

important here to decide further restrictions is also above the $100.00 limit so a very important statistic there so you can clearly say sumi that the coronavirus pandemic in particular the 3rd wave is hitting germany very hard and one element to explain why it's hitting germany very hard it's one of those variants the b 117 variant which has become more and more prevail and here in the country is partially behind that rise in infections now it's important to stress that this is not only a problem that germany is facing many other european countries are facing a similar situation and that includes some of germany's neighbors as well the situation is there for a very difficult one in europe as a whole and in particular here in germany there are a few caveats of a few positive developments as well there sumi when you look for example the number of older germans that are getting infected with the coronavirus when you look also

at the number of deaths here in germany those are positive developments but all in all here in germany you can clearly say that the 3rd wave of the corona virus pandemic is affecting the country very badly and is also increasing the debates here in the country as to what the path should be there's a big dilemma faced by authorities whether to cautiously open up all on the other hand whether they should impose stricter restrictions in the next few weeks and we know that public frustration with the government with authorities is also growing we also know that germany is headed towards federal elections in september and pandemic mismanagement or management has become a very politicized issue is that why some leaders are reluctant to reimpose lockdown measures. that's such only one of the reasons why i lead as a hesitating exactly what path they should take if you look at some of the polls that have been published in recent days here in germany you will clearly see that there is a lot of dissatisfaction towards federal and regional authorities when it comes not

only to the general crisis management but also in particular to the very slow vaccination rollout in fact the majority of germans now don't believe that the government will be able to fulfill its very important problem is of offering a coronavirus vaccine to every adult in the country by the end of the summer so you can clearly see that there's a lot of decided dissatisfaction towards here in the country and that's also why political parties and politicians it but trying to position themselves very clearly when it comes to their views ahead of that all important election in september which will decide not only what the german parliament will look like afterwards but also who will be the successor to angela merkel the german chancellor but we keep hearing from the health minister and other government officials that the rate of vaccination will pick up here in germany soon and the e.u. vaccine she said on tuesday that herd immunity in the u. e.u. could happen by mid july given the hiccups that we've seen here in germany is that

realistic well it took germany 3 months to reach the stage that it is now where just about 5 percent of the population have been fully vaccinated so i think goals here in germany are a little bit more realistic than that the hope of the german government is certainly that the vaccination program will speed up in the next few weeks in particular as g.p. and family doctors are now involved 'd but there is such a lot of criticism towards the german government when it comes to the vaccination rollout and a lot of pressure to improve things in the coming weeks are political correspondent thomas spare reporting for us there thank you so much meanwhile portugal has started easing its coronavirus restrictions after a strict lockdown that lasted more than 2 months.