has gone 2 years of muster i'm fiscal welcome to program. as germany tries to rid itself. busy of russian gas the country's negotiations with cut our have hid difficulties as to the 2 sides cannot seem to be able to agree on conditions for a contract. according to the news agency, reuters cut our wants to sign a supply deal over at least 20 years. now germany is reluctant to commit to that also cut our insists on a destination clause that would prevent berlin from rerouting the gas to other areas in europe. a condition which the european union opposes the batting russian oil will hit the german economy hard according to business lobby groups at least. but the government has admitted that there could be shortages of fuel, for example, primarily in the east of the country. 9 out of 10 cars in and around berlin run on

fuel produced at the p. c. k. refinery in the north east of the country. it is owned by russia's rosin left and its employees. wanted to stay working at the refinery and shades. $1200.00 employees are worried about their jobs. so many attended this week's workers meeting that it had to be held outside. among the guests, germany's minister for economic affairs here to come, every one's nerves russian guess once flowing through the jewish by pipeline would be replaced by deliveries per ship to be refined in schmidt. i'm with him just under co, for it would be possible to route ships through the cure canal to the port of rostock and hostile. we could do that temporarily, but long enough to resume the minister promises financial help from the government because switching away from pipeline oil won't come cheap. still, it's unclear if all jobs can be saved. many in shove,

it are worried as the refinery is one of the largest employers in the region. the dancers talk, it's about the whole cities in the infrastructure. i'm afraid it might collapse with only the cultural center. the restaurants are in the business community to feel of it, which is very hard for many of us. yeah. all the terrible weights and it's refinery . there's a lot of history here. once a small town in east germany, she it quickly grew once p c k. arrived, the acronym stands for petrochemical culminate, built in the late 19 fifties. it brought russian oil from siberia. today the refinery is majority owned by russian oil jain, rosin f, who won't be interested in switching from russian oil to other sources. the government knows that incessant would be willing to look into converting it to public use to safe trade and secure germany's energy supplies. and that has all of

the other business stories making headlines around the world. tesla has hauled it production added shanghai plan, due to supply chain issues. the call maker says, is struggling to source parts for it. and if you vehicles after a 6 week over 900 lockdown has disrupted industrial operations in the area, microsoft says it will cover travel expenses for u. s. employees who need to leave their state to get an abortion. amazon, yelp, and see group have set up similar policies after a growing number of states have introduced abortion bands. would likely backing from the countries and supreme court. bitcoin has slumped below $30000.00 for the 1st time since june, july, last year. because value has more than half from a recent record, high of $69000.00, that's going to currencies track thinking markets with investors spooked by aggressive years monitor terry tightening and searching inflation.

greece has paid back it's debt to the international monetary fund 2 years ahead of schedule, making the last payment on a loan given 10 years ago when the country was on the verge of bankruptcy. back then, the country's government debt crisis shocked europe and created an unprecedented financial chain reaction between 20102018 greece received financial aid totaling 278000000000 euros. the majority of this 8 came from the euro zone, with the international monetary fund, contributing 32000000000 as you can see there, that's the amount now paid back. despite all grease still has the highest government debt in the euro zone last year, it was almost twice as high as it's gross domestic product. and according to government predictions, the number will only drop slightly this year. now lots of like living in the

country that was forced to enact a sturdy measures and whose finances are still being monitored by european just have a look. there are many people that haven't good job and the economy's going down actually. so i'm been, i'm being just realistic, i believe is going to go up in some right now. economy given this is will share price. this may be high, but every day life looks different. people have lost a lot of their income. our purchasing power is diminishing and everything's getting more expensive due to the energy crisis. who became the lower the super so sir grevious in the year. everything is getting more expensive from food to fuel, even ferries. the price of a ticket has gone up by 30 percent in just a month. mcgaffey greeks feared that european tourists will stay away.

we bid them v as in mark with more of on the european models. but because the utopians hobble so, problems with energy and the high course of that, those for patient in the off peak season, many greeks took short breaks 2 islands near by such as angena prices. there are still manageable, fried zucchini or cheese balls. are culinary classics here, but sunflower oil has left from $8.00 to $31.00 euros per liter, putting the to furnace under pressure. many are considering dropping fine foods from the menu altogether. we did put our prices a bit up, but we cannot imagine having a restaurant, an old, a restaurant without, without french fries ference's or anything fried. so we didn't know what we're going to do. hotels also fear they can no longer avoid price rises. guests want cool rooms, cranking up the air conditioning, pushing up the cost of electricity for hoteliers. this family run hotel wants to

raise prices. they've already spent a lot on energy saving air conditioner, so we are investing in new technology. we need to change. i've already done the newer conditions, new lessons inventor, technology to have a better result. it's good for the planets. green energy, the number one topic and grease. one of the largest photovoltaic plants has just gone online. it generates electricity for about $75000.00 households. german company, uvie built the solar park it so that that is the start of the building of a zation in that area. but still there is a long way to go. we need more and more in europe in order to be able to drop the the average electricity price. although many know that prices will keep rising, most are trying to take things in their stride. after all, he can on the crises, are all too familiar in greece. before the show,

i spoke to alexander critical of the german institute for economic research. and i want to know from him how much of a problem these rising prices are for a population that had to endure tough austerity measures in the past years. these are the members strong problems. i would even call them tremendous problems because the energy prices are also increasing. grease one should know that in greece, there's a strong dependence on, on electricity. and the electricity price has been wrong, very much to the extent that the greek government has decided now to aim for very strong reduced abuse to measures the em to support particular families with smaller incomes. by texting the profits, energy companies are currently gaining out of the strong price increases and giving

this money back to sub say, the families. that's right, low income. so it has hit the country very strongly. i want to take a look back here at what degrees has gone through in the last couple of years, particularly the people in greece now that the country has paid its way out of the debt it owed to the i m f. for example. do you think these harsh austerity measures were the right way in trying to handle the crisis in greece? i don't think that this was the right way, having to measure us introduced as a stand along measure. this would have been a company a long time ago. this investment measures as well and with more cooperative measures to to reform the country to deregulate the country, very completely over regulated and to think jointly with the greek government. how

to him growth, red tape, reduce red tape and improve the brooklyn. so there was a very, a focus on one measure, and i think this was too strongly focused on and losing. so to say side of the other important parts of such a transition process. greece was among the countries that triggered the european debt crisis. could it's still do something like that because it still has the highest debt to g d p ratio of all 19 members of the arizona. yes, that is true, but still we see that the investment and the the current public depth is not seen anymore. it's such a threat as in the previous years, it's has graded better on the last years. it's close to investment right. when,

when we see how it jumps from, from 3rd party, alexander critical of the german institutions in our research speaking there. and finally, one of andy walls iconic maryland monro portraits has become the most expensive 20th century artwork ever to go under the hammer in an auction that lasted no more than 4 minutes. a 40 square inch screen was sold for a $195000000.00. turn on a bit of the work had been sold by swiss foundation that says it will use the proceeds to funding health and education programs for children around the world. and he has a reminder of our top story for you. at this hour. germany is working hard on energy independence from russia. negotiating with cut are the world's largest producer of liquefied natural gas just lies. but those talks have had a roadblock justice to linda. there's also trying to save

a refinery at the baltic. sure. that's our show for now. for more checkout website at d, w dot com slash business and of course, and also watch news. youtube channel. i'm chris kolber and berlin. thanks for watching. ever self a successful with with

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ah, ah ah, this is news life from berlin. damage control. germany's efforts to repair relations with key ramp up with a visit by the foreign minister on atlanta. burbock is in ukraine, promising more economic and military support and commit to helping ukraine bring russia war criminals to justice class. the european union pledges over a $1000000000.00 to help poverty stricken syrians.