and spence, on the german, i'm forces. then this is a scandal, chancellor and you are responsible for this and no one else with me be wanted, let him know the law are new defense minister, not quite rightly is associated with some hope that things will get better than they were in the past. but mr. per story us, it's not just a matter of replacing one jobs in the defense ministry with new people, you need to completely change the procurement system of the germ drummond. i'm forces so that we achieve real change here. that would come from your lips to your chancellor. i'm a lawyer. last year you came up with a new national security strategy or you announced that it was going to happen. it was going to happen in autumn. then it was going to happen in spring, then you're going to presented to munich scared to counsel. and now we're hearing

dusty before you have that this project in your government, it is actually not being pursued clearly because the battle of competencies between the chancellor's office and the ministry of the interior cannot be solved. this is the difference between this country and france. many other countries in the world whose strategic positioning has been tackled and changed. the german government, on the other hand, is just bickering about who's responsible for what that's the difference between germany and many other countries in the world. with what he was, he said, now rising, these are the types of the fact that you're constantly arguing. there are 30 agreements in this coalition that haven't been concluded. there's been a meeting about the budget committee for 2024,

which completely fell apart because the german government couldn't agree on 70000000000 years additional spending that the portfolio is applying for him that are not covered in the budget. yesterday in berlin, there was the education summit of this german government, 3 of 16 ministers of education at the state level, came all of the others. and that wasn't just the c d u. estate ministers who didn't come, but it was many who didn't come because they thought there was no points coming to berlin for such a meeting. and done with it. and then with brussels. and he'd been listening to live coverage of the bonus tag session today. here in berlin, we've been listening to politic match the leader of the opposition see to you, party. ah, speaking in parliament, he was of course rebutting a speech delivered just before that by chance all of sholtes saw who is preparing

for an e. u summit. next week. it is traditional that the german chancellor briefs the parliament ahead of you. summers we heard chancellor shawls trying to inspire confidence in his audience about the future despite the difficult times are and we heard the opposition leader civic match. there are criticizing the government for not doing more to support ukraine with me in the studio as our political correspondent, benjamin over as gruber benny me. what's your take on? oh, we just heard there. so we have a lot to impact and unpack here, but i think confidence as they were, they were heard both from the chance and also from the position lead us. we had a message of hope by the german chancellor. well, at the same time, he said that the challenge is the europe off facing are overwhelming. so he saw is talking about ukraine. you're also talking about all the different things that are on this provisional agenda that we have of the meeting of the european council next week. but math, that's how he started to speech the a position leader saying you cannot prescribe confidence. you cannot talk people

into being confident that you need actual words by saying that words and deeds go different ways. so we had many attacks from his side onwards and the german government is doing and what shawl said. well, also about ukraine that it will be supported as long as possible and that they will talk about the single market and also, but energy. and those will be the big topics of this meeting next week. i thought it was interesting what transfer schoultz was saying about how to inspire confidence in, in the german a, in the future by the german people. he was hers. but speaking specifically about the energy transformation in the country and saying that there is a larger energy challenge in europe that it's facing right now to talk to us about that. he mentioned that he also mentioned several trips that he did, one of them to south america. he also mentioned a trip to india. he's now going to japan to search for new energy source. and it's important to have this green energy. but that might be also a difficult topic now, because it is something like

a car engine standoff between brussels and air berlin and something that will definitely talk about. so there's this probably was a proposal by the pro business f t p party. that's part of the government that wants to search an extension for e fuel car starting after 2035. it was an agreement that was already closed and there are also other european capitals being really skeptical about that. even though the german chancellor, yesterday, when he received the swedish prime minister downplayed those reports. of course a german car industry is a huge lobby in this country and a lot of jobs do depend on it. the chance i was talking particularly about competitiveness. apparently this is going to really be the key topic along with the ukraine war course when he gets to that council meeting next week. what sort of differences are there between germany and the rest of the european union when it comes to competitiveness? or are they very much on the same same wavelength? they're not really on the same wave length. we see many differences there as well.

but something that he said is that a strong economy in germany is only possible european economy forages. and he mentioned at that, of course, the german economy, the development is dependent of what other countries do of how this a single market in actually be strengthened. the half been several things that they are discussing. one of them is the one that i just mentioned, the cost that they are talking about. but of course there are differences there. and he said that to half days to have a strong economy. of course, also this talk with our other european partners to so important. yeah. and he also mentioned the importance of getting the labor market beefed up a bit through very targeted migration. but the war and ukraine that this cannot be ignored. of course, it was important for the transfer speech and also for the opposition leaders speech there. what did we hear from the chancellor about germany's position on the war in ukraine? it once again sat, we will continue offering support as long as it needed, saying that the solidarity is important. you mentioned 2 numbers,

14000000 euros for a crane, and also the 10th you sanctioned package. that something to definitely will also be debated at the summit next week in brussels. or we heard from the position data from fleeting mats was em referring to a report that was presented by eva hurdle the military commissioner by saying that this special fun for the bonus bed, that's not a single cent that has been spent for that. so there is the criticism is always saying we have to support the bonus that we have to be quicker with getting this arms actually about the air. and that something that freak math mentioned you see the difference between the words and what is actually being done. that this money is not only a decision that was taken in the bonus. that was really important, but also to actually give them the money that they need to buy the weapons that are being sent to you, reducing bureaucracy and moving pir procurement in the german bonus fair. a huge challenge air to, to transform that. just one, leave us with just one comment from the chancellor, i thought was very interesting. he said with reference to russia's war of aggression against ukraine. the maxim might is, right,

is wrong. and he is trying to, i think, encourage his audience there with, with that in terms of staying the course with supporting you. and he also mentioned that pot he and countries so that they don't find loopholes for these sanctions. and i think that's also very important that those of the size that he's also trying to sent to other countries are not directly affected by this. that's something that you also mentioned during this recent trips for them to have them on the side to support ukraine. a wanted also to condemn it. russia's work, the aggression in the ukraine. exactly. benjamin. thank you so much. benjamin elder is gruber our political correspond let's take a look at some other stories making headlines around the world to day. rescuers are racing to save miners trapped in a colombian coal mining complex after an explosion killed at least 11 people. authorities said the blast, the tor, through the 5 interconnected mines was caused by a build up of methane gas. myanmar officials are visiting virginia camps in

bangladesh as part of a pilot repatriation project, but it is only expected to involve some 1000 refugees and a return date has not been sat nearly a 1000000 range of muslim refugees live in bangladesh. most flat, the military lead crackdown in 2017 social media giant tick tock says the u. s. government is threatening to ban it's video sharing up if it's chinese owners don't sell their shares. tick tock, beijing base parent company has been facing growing pressure around the world. over fears. user data could fall into the hands of the chinese government. israel's president isaac hudson kits on bill of plan to resolve to stand out over a controversial judicial overhaul. but prime minister benjamin us now who has already said the proposal will worsen the current situation as the yahoo is plans to weaken the supreme court have spar mass protests. concerns over the

health of the global banking system of percent asian stock market's falling after shares and swiss bank credit suisse plunged to record lows. the trouble blender has said it will morrow up to 50000000000 euros from switzerland central bank in a bid to shore up is luke liquidity. that is to that, that, that is how much cash has on hand to finance its business. the sudden, multi $1000000000.00 collapse of to us banks last week has spark growing fears about the stability of the banking sector. while for more, we've got rob watts from dw business with us here in the studio. rob, how alarming is this development with credit, sweet? well, certainly had alarm bells ringing because what we have here is a major international bank having to seek help from a central bank. that's something that we have not seen since 2008 and the global

financial crisis. but we have heard the central bank in switzerland and also this was financial regulator and credit suisse themselves. all trying to delay the fears here because it is fear that ultimately drive down stock prices, credit suisse says that it does have enough liquidity, and the 50000000000 or so euro's that, it's borrowing is merely preemptive to make sure that it doesn't run out. and the central bank of switzerland says that credit suisse does have enough liquidity to meet the requirements for a bank as important as it is. nevertheless, this is a significant warbled in the financial markets of europe and actually the world. so i mean, a little bit alarming. a 1st, it was a couple of us banks in trouble and now we've got a very well known european bank is in trouble. is this the contagion that analysts had been warning us about? and i can't sit here and tell you that we had 2 major banking, wobbles, one in the u. s. and one in europe in the same week. and they're not somehow linked

. but the case at credit suisse is very different to that. all silicon valley bank and signature bank in the united states credit suisse is for a while been seen as the sort of us suppose. a sick man of the european banking sector has been beset by scoundrels in recent years. it's undergoing a major restructuring that's costing it an awful lot of money. it's made losses in the past couple of years expecting to make last this year and next year. but the climate surrounding the banking sector is what caused this to happen right now. and that climate has been created by what's happened in the united states. the sensitivity of markets to questions of liquidity of banks has been created by what happened at silicon valley bank. so when the made a shareholder of credit suisse says, we're not sure we could be able to provide any more money to this bank. that's really rattle markets this week because of what's been happening in the states. this is a moving story. you talked about market sensitivities, how are the markets looking to they it's not been a great 24 hours the markets around the world's european stocks across the board.

pretty much down. actually the pan european stalks index it down 7 percent yesterday, which is a big drop also across the board in the us wheels associated slip. and then in asian markets, they appeared to be doing the same thing and falling significantly. but then when we had the announcements from credit suisse, and also from the authorities in switzerland, those losses were held back a little. but we have to look forward to european markets later, we're getting another interest rates decision from the european central bank. the question before now has been, how big is the interest rates rise going to be but now there's the question. are they actually going to raise them a tool because of what's been going on? so invest is going to hang on every word of christine, like god, later the central banks president market jitters, rob watts from d. w. a business. thanks. you're watching the, the be news from berlin. before we go, just reminder of the top story we're pulling for you. this. our german chancellor full of schultz has just told lawmakers in berlin that he wants to boost european

competitive this through a series of reforms ahead of an important e u summit. next week. the german leader also said the blog will agree to further measures to better provide arms and ammunition, as well as humanitarian aid to you, correct? coming up next on d w's conflict zone we see spits lena, taken off sky, speaking about bella bruce's opposition. thank you very much. mm hm. me and mr. can see you in the ground. most is notorious and controversial in the out. the key means writing for me with revealed and nevertheless

a mystery to this day. what lies behind the cut in 30 minutes a day for what people have to say matters to us. mm. that's why we listen to their stories. reporter every weekend on d. w. ah, banking fear spread through europe, worries about credit suisse. trigger a sell off just days after a bank dealer in the us. raise questions about solvency. we'll ask an expert if there are a substance behind the panic. and south korea doubles down on nuclear power as it

strives for more energy autonomy. sol wants to increase lucrative energy exports. welcome to dw business, i'm on easy. no worries about the stability of the banking system have spread from the us to europe. shares and credit suisse fell to a record low after its biggest shareholder. saudi national bank rolled out a new cash infusion. the lender has appealed to the swiss national bank for public show of support. concerns have been growing about the banks liquidity on both sides of the atlantic, falling the collapse of silicon valley bank and the u. s. a. week ago now for more on a on this, i'm joined by octavia marines, e seals, consulting, c, o, p mass. mr. moran, the credit suisse, has asked switzerland's national bank for a statement of support, confirming it as financially healthy. do you expect that we'll have to provide more than just reassert and reassurance, financial support, maybe?

oh, i do expect they're going to have to actually put some money on the table. the simply making these pronouncements is not going to do be enough. i mean, credit suisse is under severe attack, people are pulling out money out of criticism, a furious rate. and chris is simply not going to be able to pay those depositors. so someone is going to have the co psych app and it looks like the swiss national bank is going to have to step of the fray and actually put some cash on the table. rather than simply having pronouncements about moral support for credit suisse. what would the impact of such a bill out be on the european market and for swiss bank? out of all countries would have to be bailed out. well, i think for the, for the swiss financial market center is going to been absolute catastrophe. i think it has been already, so people have put their money into switzerland in large amounts in the private banking and wealth management spaces and asset management. in large part because system has this idea of stability and conservative investment of your assets and

capital preservation. and that's the kind of clients that are swiss banks of attracted, that's all. now put de crestwood credits with credit switches on in countable damage to switzerland's reputation as a financial center. and i think was 1st national bank and this was government fully aware of that. and want to make sure that this doesn't go any further. now this is all happening, of course, in the context of 2 bank collapses that we've seen happening in the us this past week. and how far is this related to what happened to the s v b? for example? i didn't have any direct connection with the credit suisse in sep, other than credit suisse, had a big exposure to silicon valley bank at all. i don't think the source bank had large deposits with as we be, so it's not a direct connection. but i think what's happening overall is that we're seeing a, an environment we've had a very, very low interest rates for very extended period of time. and that's true in the u . s. in esther in europe as well in switzerland bit less the the s and b has been

a bit more careful. thompson's management of this was currency, but over was in very, very low interest rates for a long time. and now suddenly we've seen interest rates rise very quickly, particularly in the u. s. and that is going to break some things that's going to break. some banks are very dependent on interest rates is a very core part of their production process. and as you see big changes that some banks are not going to be able to keep up and compound with that, i think a credit was done some hold a bunch of damage to itself outside of anything as v b is done. so or anything related as v vi. so there's been some monumental misstep, socrates waste in terms of risk management in terms of investments. and that's came back to haunt the bank. now you mentioned the interest rate aspect in the story here. now the easy be expected to increase interest rates again tomorrow, and analysts expect half a percentage point increase. do you think that today's events might factor into the c b s considerations for tomorrow?

stephanie, i don't, i don't think the easy be wants to give impression there. panicking and responding to the latest news and by the minute making decisions about where to put interest rates. so i think they want to convey sort of a sense of greatest ability that and thought about how they're going to approach interest rates. that being said, there's going to be tremendous pressure on them now on the e. c. b and on the fed who are both making decisions as weak about in straits to not continue with these big increases and interest rates. because the has to be some losses involved in that. basically, anyone who's sitting on bonds, a bond portfolio, or a loan portfolio like banks or is going to have to take losses as a result of these increases. so the banking industry is screaming out for the central banks not to continue with these increases the central banks, on the other hand, have to still fight inflation. and the only way they can do that is by continuing increase interest rates. so the central banks, the e, c, b, and the fed included on a very, very difficult bind right now. difficult times for a central bank. thank you. i'll tell you all mirandi. now let's get the latest from

wall street on this. and these developments and teddy australia joins me from new york teddy, have there been recruit repercussions from the banking self in europe, in the us. well, credit suisse is a global financial institution. so it's of greater consequence, right? than silicon valley bank than signature bank, which we did see fail this week and cause broader turmoil in the market here in the united states. now, the pronouncement pronouncement by the swiss national bank to support credit suisse, is going to pair some losses. however, we have seen some damage here in the united states. the s s p has dropped a point 7 percent. now really, the banks are the ones that have hot hit, the hardest goldman city group. sliding regional bank certainly sliding. but what we're looking at is investors panicking, looking around at the financial sector at s b, b at signature bank at credit suisse and saying this is incredibly unstable or

pulling out their money and trying to find investments that will pair their losses . now we were just speaking about the difficult situation that central banks find themselves and right now that you see be especially because of the interest rate high to morrow. how might the fed react to this volatile economy? well, the fed has 2 objectives, right? it's to insure a financial stability in the economy and to tame inflation. now the ladder of which it has been doing from unprecedented rate hikes here in the united states and it does appear to be bringing down inflation. however, it is causing some financial instability. we can certainly say it contributed to the failure of silicon valley bank and subsequently signature bank. there are also some issues there about the fed supervisory issues, but with inflation, right? we have seen inflation cooling here in the united states. the fed isn't fully happy

with the pace, which is why their expectations that they would continue to high rate. however, now with the financial instability we're seeing there are bets that the fed is going to do a low hike or a no hike after they're meeting. next week, so all eyes on central banks. thank you very much. teddy austro now to some of the other global business stories making news. german authorities say they've taken down the world's largest crypto currency laundering side and seething the online platform. chip mixer officials secured around 44000000 euros worth of digital currency ship mixers. operators are suspected of laundering money for drug dealers and russian to russian military hackers among others. about half a 1000000 workers in the u. k or striking, causing major disruptions, teachers, doctors, and london underground staff among others walked out. most of them demanding higher

pay. the country has been hit with a wave of strikes in the past months as workers react to double digit inflation. now this comes as the u. k faces its largest fall in purchasing power in 70 years. that's according to a government commission study. it says household income will continue to drop and living standards won't return to pre panoramic levels before 2027. electronics join, samsung plans to invest more than $230000000000.00 in building 5 new chip factories and south korea over the next 2 decades comes as a part of the south korean government's efforts to develop a mega semiconductor semiconductor hub in the country. and we stay in south korea for our next report where the government wants to gain more energy autonomy. that's because depending on other countries, for energy can be costly both financially and politically. russia invasion of ukraine was a stark reminder of that. now soul wants to boost its production of nuclear energy

. by the end of the decade, nuclear is supposed to make up a 3rd of its supply. south korea imports more than 90 percent of its energy resources will call natural gas in uranium for nuclear power . and unlike many countries, it's not connected to another electrical grid, and so must rely on its own power infrastructure at all times. 100 miles. oh, there is a north korea and 3 sides. there is ocean for connie, say south korea as a kind of energy island is home. that was so we have to create our own energy and be self sufficient that we had an entire year. so 3 already has $25.00 reactors in operation which can take up to 10 years to build sol plans to resume construction on to reactors this year and ramp up nuclear power to more than 30 percent of total energy production by 2030 significant portion of south korea's g v

b depends on trade one. in the near future, electricity will become the key power source account of what we call the 4th industrial revolution. that means cheaper electricity will help us sharpen our competitive edge when it's no one you then and go with the new south korea, the top 10 global energy consumer with energy intensive industries, especially electronics, ship building, and petrochemical, driving the country's economy. reducing energy costs is paramount. russia invasion of ukraine is at least partially influenced, increases in the cost of those energy inputs. so create public utilities reactive, raising prices with the cost of home electricity spiking almost 30 percent in the past year. but so 3 is not only relying on nuclear energy in its own country. it also exports reactors, for example, to the united arab emirates in february,

the 3rd a p r 1400 reactor will begin operation there with another to follow. south korea also hopes to compete in the new market featuring smaller modular reactors with hopes to capitalize on its $20000000000.00 u. e project. the pi so nuclear power is strong function of the construction period. south korean succeeded in terms of on taiwan budget delivery of the plant. so in that google and i think oscar has a good advantage. thank you for watching. ah . of the me, a mystery. concealed in the ground. most just painting. notorious and controversial in the out. well, basically means me writing veneer scholarship and revealed and nevertheless

a mystery to this day. what lies behind the cut and 15 minutes d w e co india. sand mining up the coast. yeah. mm hm. by the thriving but illegal $1000000000.00 business with the devastating impact on the environment. activists to my lead stood up against the mafia. and you threat him down to tack multiple times. eco, india. 90 minutes on d, w. o a in many countries, education is still a privilege. tardy is one of the main causes some young children walk in mind trav

instead of going to class others can attend classes only after they finish working with millions of children over the world. can't go to school with. we ask why? because education makes the world more just a make up. your own mind. will you make for mines? do are flying rivers created by waterfalls, throwing water particles into the air b, trees and sweating out up to 1000 liters of water in a day or sea forest fires, evaporating large amounts of moisture tune in to get the answer. learn more about

this phenomenon, a heavy, invisible river that flows through the sky starts march 23rd on d, w. ah, ah ah, this is the w news coming to you live from berlin, global markets jumpy as banking, turmoil spreads, patient stock slide, but europe's react positively offers with regulators, handle liquidity, lifeline to lenders, credit suisse. investors are still spooked after the collapse of 2 banks in the.