was the nazi's favorite conductor, to musicians under the swastika, a documentary about the sounds of power and inspiring story about survival. music in nazi germany, watch now on youtube. d. w documentary. ah ah, this is the w news live from berlin. global markets react to swiss bank u b. s. acquires it's rival credit suisse, switzerland central bank, fast tracks of deal designed to avert potential banking crisis. will hear from a finance expert in this hour as the format can also on the program. chinese

president gigi and paying as in moscow for talks with russian president vladimir putin, china wants to be seen as a peacemaker in ukraine, as russia hopes or support for its war. i'm fil gale. welcome to the program. switzerland's biggest back u. b. s. has reached a deal to take over its embattled rival, credit suisse of takeover was arranged quickly over the weekend. i made fears that the banking crisis could div stabilized the global financial system. so it's linda is preparing emergency measures to fast track approvals. and you be asked will receive liquidity assistance from the swiss state. the turbo was unleashed by the collapse of 2 u. s. backs. the humbling end of the banking icon. the swiss government hastily forced through the takeover of credit suisse by

rival ye, the s at well below market value of switzerland is fearful that a failure to protect depositors could lead to a global banking crisis. the bankruptcy of a global systematically important bank would have cost irreparable economic term oil in switzerland and throughout the world. the federal counselors convinced that u b. s. takeover of credit suisse has laid the foundations for greatest stability, both in switzerland and internationally. switzerland, 2nd largest bank had been in trouble for some time, suffering scandals, public legal battles and mounting losses. these longstanding vulnerabilities were brought to the surface by the collapse of silicon valley bank anne's signature bank in the u. s. highlighting just high panicked investors are. there is hope

that the financial problems were unique to credit suisse and could therefore be contained in this deal. but experts warn this may not be the case. once a large and highly connected institution, such as this runs into trouble. there is always a risk of contagion. and it may be a good idea for regulators and central bankers to try to get ahead of the problem. central banks across the globe, i faced with a potential crisis of confidence in the stability of a financial system as investors and depositors a like fear, a looming credit crunch reserve. frederick hardaman can talk us through this is an expert on international financial systems at the leibnitz center for economic european economic research in mannheim. welcome to the d w. so we have switzerland biggest bank taking over the country 2nd biggest bank just explained to us how big

a deal that is. yeah, that's quite a substantial deal. i mean, those things belong to the 30 global leader, important banks that are deemed to be offered systemic relevance. so one of the big ones that of the u. b. s. has a balance sheet, $13.00 units taking over their credits with the balance sheet off about half the size. so together it's gonna be one very substantive logically. and i think it's a, it's meant to be a strong sign of building trust. now, there was authorities not able to wait and to stabilize the situation in a critical ok, so we have 2 banks in the u. s, which go down and cause this problem in switzerland. central banks now are scrambling to com fear that this could ripple around the world. that is, that risk now contained no, it's not her put the container,

but i think her, what you really notice is that authorities have to learn from the great financial crisis in 2008, 2009. so they are acting much faster than they did in the past. they're acting strongly on the sending out science of trust, building and one should also, one should also recognize it. fundamentals are much stronger today than they were in 2009. a higher in the bangs regulation is stronger and tighter. it was disappointing that the con valley bank a collapse and this was a big disappointment because everybody expected. well, we have too much regulation, so tight and not with was pretty traditional mistakes in their balance sheets. it was a big disappointment that that's why and now people are so i know is i can trust in

looking at we've been asking, what is the business model really viable? and that's a problem, right? so that's a little bit scary because you said that they should have learned but didn't, and still made fundamental mistake. so i suppose my biggest question is my mind is not in a swiss bank, is not in a u. s. bank, it's in a bank here in money. he's my money. likely to be safe now. yes sir. i mean the banks are kind of like, drew me. they are under stress from the increase in interest rate, but they also benefit from it because a again, dan burton money from the normal business, taking in money in the account and lending it out in this has become profitable again because of the increase in interest with the increase in the interest rate is a cruise in a blessing. i think for many banks the net effect is quite positive. so that's why

i'm not too pessimistic. the big issue with the european real estate. so as long as the real estate market stays are stable, i'm quite confident that we will not see a big bank in crisis in europe. ok, that's a good note to leave some. thank you so much for talking us through that. the frederick. hi, i'm on. i'm a leibnitz center for european economic research. thank you. well, but thanks. chinese president, jews in pink has arrived in moscow. he strips widely see does a show of support for russian president vladimir putin, whose war in ukraine is struggling to make gains. china has put forward its own pace plan, but hasn't condemned russia's invasion. speaking on the eve of the visit, the russian president said relations with china had reached new heights. russia's front line in ukraine has advanced, retreated, and dinged forward since it's invasion a year ago. but one thing has stayed constant european hopes that russia's biggest ally could push it to end the destruction of the cruise

ship. it is important for us and china does not choose russia side and little we expect china to fully use its influence on russia. you'll bring russia to respect international law on this, you know, i said to presidency that it's important for china to exert its influence on russia . china has called for peace negotiations. last month, it released at 12 point piece played for the ukraine conflict that was widely condemned by the west hoover not making specific demands on russia if you could. indeed, beijing looks reluctant to clip russia's wings before russia invaded ukraine. both president, g and fulton declared and no limits partnership between their country. they've met in person since then, and president, she state is a to russia, is a strong signal to the west. and because m putin didn't win the war quickly,

not to rethink its relationship while keeping this very strong alliance intact. so china's main focus is to make sure that it continues to trade heavily with the west, while also maintaining its close friendship with, with russia. but china may be offering russia material support in the war. us base security researchers say the chinese companies are exporting equipment to sanctioned russian defense firms. and the u. s. has warned that china may soon provide lethal support to russia. there is no evidence of that happening on a wide scale yet. china has taken on and increasingly combat of posture towards the us. and believe that as moscow's troops struggle on and ukraine, china is working towards it's long term goal of expanding its influence on the global stage. walk of kime as the senior fellow at the german institute for

international and security. welcome back to the w, a marcus. so president putin isn't winning his war quickly enough. we can see he wants backing from china. what does china a want from russia? i think ross has more a technical perspective on the bottom. that's what it meant. on. also the crane war, political support, really curious about financial support economics. i think as a way more strategic perspective needs running because of the crane well, but because of it's more general and t u. s. and the western stands, i mean, it has become a couple of years, the kind of once a different world and, and to us world on, and then the western new world order a already then and, and giving this roughly it's an important part for china and it's really actually

goes way over the grand. right. ok. so there's, there's a, there's a bigger picture than ukraine sticking with you. credit for the moment. washington has warned beijing against providing military aid to russia in this war is president and g, likely to risk doing this? i don't think so. i think you will be quite hasn't to go right military to support in concrete terms of terror in terms of weapons because has to be afraid of western sanctions. me and i'll be interested in this kind of retail nation. well, we know that a couple of weeks which you need to develop and to build weapons in russia. and secondly, both countries are keen on developing trade and boosting trade. talk to

trade everything, $200000000.00 in the next year. and this will also call the economy, and the addition would be the increase of for twenty's, expose the oil was also all running on me thinking all together think you can as a reliable alarm, but will be, will be quite reluctant to be involved in that right. ready and so what else is likely to be on the agenda between these 2 presidents? i just mentioned that you can only think we why the way that it's not a military lines, but it's true. it becomes more and more. all right, boosting trade in the corporation. really quite important and this will also include. ready reputational gains for cooperation with the russian

point on the loan, but no loss. and then and issue. and this is a business the countries of the global so you can easily get into it. god read too close and independent living that thank you so much money. not for us. marcus came from the german institute for international and security fast. thank you. so source making headlines around the world. now. i can use capital has been provide demonstrations against a router. they are high cost of living in claims of cheating. a last year's election protest as in nairobi were confronted by police opposition leader. i ran a dingo who not only lost 2 router in august, call for the protest hoping to harvest the satisfaction of africa is price for mass protest after the last 3 economic freedom. 5 school for

a national shut down that amount. in the resignation of president obama pose, there he was a moment can mismanagement violence by protest in 2021. a lead to more than $350.00 residents in the australian town of many and demanding also she's taking media action after hundreds of thousands of fish found floating in the me a by dialing levels of oxygen being like this dial started a quick look at the german that bonus league and now in labor cozen, put a dent in by unix title defense effort. shocking the host, the to one victory yo yos. do yo through our kemesha what buyer to hadn't 22nd been the league wouldn't last. i recuz's already leveled from the spot. once i miss found my i dial mackinaw mikado turned into another penalty. ezekiel palazzios conversate his 2nd of the day mister,

the result does daughter to favors. they overtake byron as table leaders after the game. yes, you are kim. it's a talked about what the defeat means for bad. we are not at the top anymore. and so we're, we're to work more am to get better. we know that we have the really important games ahead them, especially against all html at home. and we know now that we have to, when i set you up to date softball world news at the top of the hour. stephen beardsley has your business updates a in just a moment with more dubious is rescue of credit suisse have a good day. thanks guys. it's evelyn share my welcome to my podcast, love matter by and by celebrities influences and experts to talk about all plain loved thanks from daddy. again today.