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takes believe i'm following. you fire made a thought they were great. a b. o. a historic challenge. that's how german chancellor o last shots describe the worsening cost of living crunch in the country. he met with business representative and trade unions to hammer out a crisis plan for europe. guest economy also on the shelf. turkey

2 is feeling the pain of inflation. experts, a prices have risen much higher than official estimates. so do normal turks will hear from them shortly. and staff shortages are dragging down what should be a summer of recovery for many restaurants and hotels in europe will visit madrid. this is the w business. i'm janelle dumas on welcome food and energy prices are climbing in germany. some business leaders are calling today's inflation the toughest economic and social crisis since german reunification. 30 years ago. the countries chancellor met with trade unions, employers, and scientists on monday to figure out an action plan. it's the perfect economic storm vegetables and grains a 10 percent more expensive. the price of petrol at the pump is up 50 percent. the

cost of gas and electricity as more than tripled within a year. the average german consumer is feeling the pinch with many having to cut costs. never called us i'm, i'm already aware of it because i'm on maternity leave right now and on a limited budget. we need to cut back more and spend more carefully. with ours, we will try to, we'll get through it somehow. people have survived inflation before it will all work out the helpers as well. i hope that it will come back down on its own. but the situation isn't easy right now, but hopefully this like as well. i hope so, but was it the government can make a difference? i don't know. one that was with it can come by the your advisors that germans are looking again to the government to intervene for some their income isn't even enough for the essentials. the use of food banks is on the rise, and chancellor sholtes knows that high inflation can inflame social tensions sholtes or sat down with unions and employers to hammer out the next phase of

support. he points out the 30000000000 euros and aid that's already been approved that forgot to live. this includes an increase in the basic tax allowance and employee lump sum, $200.00 euros, one time payment and welfare support. the higher heating allowance for housing benefit recipients, a 100 euros per child along with 20 years each month for children and poorer circumstances, and $300.00 euros energy allowance on that. oh, and i get your stay and we stand before a historic challenge for an average working household. the government has so far offered relief was around 1000 euros, bought the last of the burden on private households is set to go well beyond that. that's why we need further consultation on how to reduce the burden isabelle escal incline hyphen concrete results are expected to follow in the autumn until then consumers in germany will have to hold out. now obviously,

germany is not alone in struggling with higher prices. it's been a problem in turkey for much longer. inflation in the country reached nearly nearly 80 percent annually in june. that's according to official data provided by the turkish statistics institute. official being an important distinction here. economists and ordinary turks both say that costs have risen much faster than the government says. let's have a live chin. dick heb reagan is in turkey, looking for doctors would be interested in working in our practice in munich. it's been, it's not on cut. i flew to anchor from germany. we have a massive shortage of skilled workers. if we can find good staff from abroad, will hit a wall of luncheon van devante from today. the neurologist and psychiatrists is meeting with ostler. or you are a psychologist who hopes to leave turkey as soon as possible. talk to,

we have many turkish patients who don't speak much german. you'd be working with them so much in such an image that the moment is not easy for turks to get a visa for germany, which worries me, but i'd like to do it. oh my god, me the talk still soon it became clear why she wants to leave yeah, it's a 50 lire for 2 glasses of tea. that's insane. on at the moment. 2 glass of tea for the equivalent of almost 3 euros for the young psychology graduate . who works in the student advisory office that's on affordable. and given how empty restaurants and cafes here are these days, she's not alone in that economics of it. i mainly want to go to germany for economic reasons, the same as all the other young people here. we meet vessel olu, so at a grocery store in istanbul,

the economist calculates the inflation rate every month, based on actual price increases over the past year. not the government's official rate like attorney. this until the last year mil cost between $5.00 and $7.00 nero's right. i want to 7 years and now it is. smoke is 20 louis. it went up long. yes. today, unfortunately, the non dr. either one is a leader of milk for 20 lears, roughly one euro 20 loose. i believe that the official inflation rate of 70 percent is incorrect and you don't have it. you use the use a lot of innovation rate is up at 156 percent compared to prices from last year and it will continue to go up soon. the government's official inflation rate will break 100 percent by october or november i. according to our calculations, we're heading towards almost 200 percent you back in ankara. elite ginger

cab reagan is about to meet with someone else. she hopes will join her in germany. var debt good is a professor and practicing psychiatrist professor good hasn't decided yet, but he's clearly interested, even though he earns quite a bit more than recent graduates. one of them is bone and that addition i can definitely imagine doing it. i'd like to work in england or in germany. well, i know that standards are very high there, but you, shackleton, just one more reason why the exodus of medical professionals from turkey is likely to continue. here is our correspondent, even the hon reporting from istanbul. many talks are no longer believe the official data, they think inflation is much higher. so do opposition. politicians and economists who have started to openly question the reliability of the governments of figures on inflation today. a well known and independent research group announced that

turkey's annual inflation, in fact, rose to more than 175 per cent in june. that's more than double the official right . now, all these doubts are adding to people's, of frustration and despair in this massive currency and cost of living crisis. some people have taken to the streets and recent month, although i should add that anti government protest here in the country of very little tolerated. we often see more police than demonstrators, but we went to a protest, a small protest here in istanbul this weekend. let's listen to what people they're told you know little no, don't miss. it will deliver them to them. we have problems paying our rent our bills and accessing healthy quality food. think good reviews. we're going through a huge economic crisis that shakes all of us ready to go that you'll, you'll love. i have 2 children. the cheese i used to put between their school sandwiches was 20 lira last year. you almost now it's 84 years. and i've had to

start buying cheaper brands. a lot of years. do you want to learn more? but even those are getting more expensive? oh good is it? how can people who are in minimum wage still managed to pay their rent and make a living? because the situation has become so painful for many of us, all people are up their limits. again, to get people in istanbul, they're speaking to our correspondent, you'll johan, now to some of the other global business stories making news for the 1st time, there are no german companies among the 100 global companies, with the highest market capitalization. 15 years ago, there were 7 in the list compiled by consultants at e y. american companies are still in the lead. 60 of the most valuable corporations are based in the us. germany is road traffic agency is recalling tesla models why and 3 because of a software glitch in the automatic emergency call system. the agency said the bug

effects around $59000.00 vehicles worldwide, but it's unclear how many of them were registered in germany. argentina has a new economy minister, president, alberto fernandez, has named economists solvina bartuck his as the successor to martin guzman, the former minister who was key to a 44000000000 dollar debt, re negotiation with the i m. f. resigned after clashes within the ruling coalition about how to handle a growing economic crisis. the summer travel season is big business across europe, even more so after recent, disappointing seasons due to the pandemic. but things still aren't so easy. now, staffing shortages are hitting the service industry harder than ever after 2 years of last income due to the cold in 19 restrictions, muddy venue, rodriguez was looking forward to a busy summer. but now the owner of a popular tavern in madrid as to phase and other problem hiring raiders has never

been so heart. i unit leases, accommodate. there's an waiters crisis because of all we have been talking about salaries and long hours. but i think this is a structural crisis of the economy and work in spain, not just in the hospitality sector. and if we keep on lankin waiters, what will happen in the future is that there will be no bars now. they have been flooded. during the pandemic, many workers move to different sectors with better conditions. the spanish service industry had also relied heavily on migrant workers, but many have yet to return. the neighboring portugal. hotels are facing the same issue. they will need to hire at least 15000 more workers this summer to face the high number of reservations. you ask him, i think it's an evil affecting every one. we are all feeling it a lot. the lack of qualified staff and the high turnover of employees because sometimes we're an extra 20 or 30 euros. they moved to another company,

salt them for the, with the with it is unions to say low wages and unsocial, howard are the root causes of the workers shortages. but for many young workers, it's also a matter of professional aspirations. decided to let you go out on the street and ask someone, do you want to be a bartender, a waiter or something? and firstly, they wouldn't even know what the specific responsibilities would be. and then they say, well, no, for thanks for watching. ah ah, confronting the past and argentina from 1976 on the military, honda kill tens of thousands of opponents. the children of the perpetrators have

founded a collector. amanda now coming to terms with a trauma together with the children of the victim. my father, the kingdom close up with next on d, w. a pulse has the beginning of a story that moves us and takes us along for the ride. it's all about the perspective culture information is neither you news more when you w me full minds. oh. when you become a criminal free climate. oh really no.

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