of political union and all the other political decisions that need to be made but of course the e.c.b. cannot solve the structural problems which are characteristic of this monetary european monetary union well indeed and the spanish prime minister said he will continue with his austerity plans despite these thousands protesting against these cuts given these measures have prevented i should say recession in the country why is he still so committed to it. well i think no other options in terms of safeguarding the support from the european central bank from the i.m.f. and from the european authorities the european commission. probably mr self is also convinced that spain needs to take structural measures in order to keep to increase the growth potential of the spanish economy and to make public finances more sound in spain but the short term and even medium term result of these kinds of policies just as we have seen in greece is that the recession gets worse and that employment problems and budget problems also get worse so this is a kind of catch twenty two situation but spain is the euro zone's fourth largest economy is it too big to die out. it is too big to bail out in

can not solve the structural problems which are characteristic of this monetary european monetary union. and apparent protests against president assad at syria's aleppo university met a bloody end today leaving four dead and two hundred more arrested and verified videos of from the clashes showed troops and students together attacking the demonstrators omar a senior columnist at the newspaper. in neighboring lebanon blames much of the violence on arms proliferation. let's look at the situation in a realistic way there are some many that are all around syrian cities major syrian cities there are gunmen you know and it's very difficult they're not very well organized so there are different groups of armed men on the streets and it's very difficult for the army the syrian official army to withdraw from the cities and leave the ground for the governments or that's also making things more complicated what is required is that the government would actually back down and the syrian army would withdraw the tanks from the cities and that's very difficult to implement and there are weapons being s

can not solve the structural problems which are characteristic of this moment to the european monetary union coming up in a little over ten minutes time because a report goes gunning for the u.s. treasury secretary america's chief banker said in a statement that the human errors that led to the two thousand and eight crash can't be cured by lawmakers but max and stacey beg to differ. timothy geitner you can't legislate away stupidity or risk taking greed it was just an accident i think that the global financial markets collapsed i don't see any crime here or there. has selective amnesia and he's purposefully blind to the crime in front of them he can't hear anybody they're committing crimes you can't see anybody even though it's presented the evidence every single day criminality no. ambiguity have bought it. an apparent protest against president assad and syria's aleppo university met a bloody end today leaving four dead and two hundred arrested on verified video from the clashes show troops and students together attacking the demonstrators amarna shall be a senior columnist at the all akba

that there hasn't really been a cost germany is actually benefited substantially from the european monetary union it's effectively entrenched its position ok marsh you got to help me because it's exactly what i wanted to say to georgia maybe the german position is been very positive for the german economy and for the german people so i mean that's why they continue down this path but as everyone on this program knows everything is interconnected eventually even the sense of democracy in the european union i think the main thing to remember is that we're facing elections in greece on the seventeenth of june at the latest and the government may be returned. breaks with yourselves he package giving germany and the troika the excuse to cut off money if that happens when no longer talking about medium term austerity or growth or whatever we're talking about european meltdown now two things which i want to stress first of all that meltdown is actually starting to happen now. we're seeing the long banks in greece that could easily spread before the seventeenth. i'm not saying it will and i'm saying ther

. >> you have signs greece may actually stick with the european monetary union. 125 point at the close. also china took some measures to stimulate its economy. back over to you. >> lori rothman fox business, thanks. >> sure. >> investors are trying to make sense of this market and so are energy traders. the price of crude didn't move much today down just 10 cents a barrel. a.a.a. reports prices ticked down to $3.64. what's left of tropical storm beryl is making a wet mess along the southeastern coast. heavy rain flooding roads from florida to the carolina coast. forecasters say some places could see up to 10 inches of rain. beryl wrecked millions of people's memorial day plans when it made landfall just short of hurricane strength. it snapped trees, knocked out power to tens of thousands. damaged mostly minor. it's now expected to head out to sea where it could restrengthen. hurricane season officially starts friday. and we have already seen two named storms. >> a secret presidential kill list. a new report claims the white house has one for terrorists and that the president has a fina

do in large part, one year from today, will your country be a member of the eurozone, the european monetary union, will you have a euro or drachma? >> my bet would be that we will have a euro. it's going to be very tough. but i think there is going to be action in three weeks. i think that at this stage an exit of greece from the euro cannot be orderly. it will be very disorderly and very messy, therefore a solution needs to be in place. >> i hope that wasn't a freudian slip earlier. >> what could be a solution here? >> oh, they'd have to be really creative, right? at this point if i were the dictator of the european union, i would say, you know what, the chances of greece paying us back are pretty minimal. so what i would do is say, okay, every single bullet point of competitiveness that you increase, we're going to forgive you 5 billion. for every single time you manage to make your country better as an economy, we're going to forgive you more money. >> would that work? would that work? would the carrot work better than the stick? >> i think it has to be a combination, yes. you definitely need

need to implement the austerity package to receive a bailout from the international monetary fund and the european union. the parties in the former ruling coalition are expected to warn voters that greek leaders must follow through on promises or face an exit from theeurozone. >> translator: if we change the austerity measures, our economy will collapse. staying in the eurozone is our first priority. >> we block the formation of a government that would continue the austerity measures. let's put an end to the policies that shatter people's lives. >> many greeks say they oppose austerity. still opinion polls show more than 70% favor staying in the eurozone. they'll head to the polls in mid-june at the earliest. >>> german chancellor angela merkel and former french president nicolas sarkozy advocated austerity as a solution to europe's debt problems. sarkozy's successor francois hollande takes a different view. now they are trying to figure out how they'll work together. here's our report from berlin. >> reporter: hollande flew to berlin on tuesday, hours after he was inaugurated as president. during his e

out, particularly once you went beyond -- maybe six countries perfectly were suited to a european monetary union, if you want it to work in a diverse group, you've got to be truly european and they're not being truly european. so the markets have simply throwing it back saying, okay, guys. >> a fixed exchange rate union. is there any historical precedent for this kind of thing working? >> well, your country -- i'm not a great detailed historian, but there are parallels with partly how the united states was created and this is partly why i wanted to raise the issue of germany. in big picture in many ways, what's the german response to the french election is more interesting as big of an issue as this greek thing is. you've got signs of germany making major policy changes. less than two weeks after the finance minister saying publicly germany should have higher wages. that is a big change. bunders bank all be it through gritted teeth accepting inflation has to be above 2%. and that looks to me as though it's a response to -- >> that's a enormous psychological change. >> it's a big change. a big fu

europeans monetary union is in question right now, so with all these problems that we have, those areissues that i hope we hear about in the coming months of the presidential campaign. martha: thank you very much. good to talk to you both. bill: it is one of the biggest issues we have in america the u.s. drowning inned ink. how much every year is paid just to cover the interest on that number there? bya, because you asked, and answered coming up. martha: we have more of my interview, my one-on-one with and romney, how her faith made her who she is today. martha: you talked about the struggles that you've been through in your life and faith has been a big part of getting you through those. how do you feel that that has served yous a wife, and as a mother. >> certainly when i was going through my deepest challenges, you of course always want to initially say, oh, no, why me, oh, please, no. are you receiving a payout from a legal settlement or annuity over 10 or even 20 years? call imperial structured settlements. the experts at imperial can convert your long-term payout into a lump sum

there are worries gross could pull out of the european union threatening the region's monetary system>> the euro could disappear and if the euro disappears, there is the dangerous that the whole european union as such will disappear as well. >> reporter: but opinions vary on how to solve the european crisis. british prime minister cameron says the eu is running out of time. >> it either hard to make up or looking at a potential breakup. that's the choice they have to make and it's a choice they cannot long put off. >> reporter: u.s. is advocating a middle ground. austerity measures and plus a job creation package. after the g-8 the president heads to chicago to join more than 50 heads of state at a nato summit. the focus there, plans for winding down the war in afghanistan. ahead of those meetings, protestors have been arriving in chicago by the bus load. >> i started off as an anti-war activist. so coming for nato -- you know, with the bigger anti-war thing to protest than nato? >> reporter: chicago police are preparing for the worst. >> will it be a challenge? no doubt. >> reporter:

the measures are necessary for a bailout from the european union and the international monetary fund. warning to greek voters there is no alternative to austerity. >> the commitments taken by greece and all of the member states should be kept not because european union wishes it to be like that, but because there is no other alternative that has less pain and less difficulties. >> barroso said greek leaders must impose the taxes and spending cuts. he asked to consider the impacts on other countries in the eurozone. eurozone leaders have been pushing for austerity issues for some time. angela merkel spoke to nhk world during an exclusive interview. >> translator: i would like to see greece remain in the eurozone. i heard 80% of greece would like to remain a member nation. in order to achieve the goal, the eu needs to represent a solidarity with greece. at the same time, they need measures with the commission and they must be implemented. >> merkel met with president hollande on thursday. they agreed to improve the membership with the eu. they admitted to the differences of opinion on h

there are worries greece could pull out of the european union, threatening the region's monetary system. >> the euro could disappear. if the euro disappears, there is a danger the whole european union as such will disappear as well. >> reporter: but opinions vary among g-8 leaders on how to solve the european economic crisis. british prime minister david cameron says the eu is running out of time. >> it either has to make up or it's looking at a potential breakup. that is the choice they have to make. and it's a choice they cannot long put off. >> reporter: the u.s. is advocating a middle ground. austerity measures plus a job creation package. after the g-8, the president heads to chicago to host about 50 world leaders at a nato summit. the focus there, plans for winding down the war in afghanistan. ahead of those meetings, protesters have been arriving in chicago by the bus loads. >> i started off as an antiwar activist, so coming for nato, you know, with the bigger antiwar things approach us than nato. >> reporter: chicago police are preparing for the worst. >> will it be a challenge?

slogans to attract voters, and a single that scapegoats for the greeks misery -- the european union, the international monetary fund, and the germans. and an enthusiastic welcome is not the greeting most greek politicians receive these days, but this is an exception. his party, independent greeks, has touched a nerve among voters who feel they have been sold out in the financial crisis. away from athens, he's treated as a serious candidate. local media give full coverage to the party leader, whose campaign has been highly critical of the political establishment. >> we are a new popular movement. people are listening to us instead of the guys who sold their souls to the banks. those responsible for the austerity measures in greece do not dare show their face on the streets anymore. that he has held the seat in parliament for 19 years, until recently as a member of the conservative new democracy party. today, his former colleagues are his biggest political enemies. the split came after parliament passed the latest the senate package in february, imposing new taxes and further cuts. -- the latest austerity packag

they are necessary for bailout loans from the european union and international monetary fund. the party opposes austerity. it is expected to increase its number of seats in parliament. the new democracy party came out on top in the last elections. its leaders warned that scrapping the austerity package could force greece out of the eurozone. >>> european union leaders warn greek voters that there is no alternative to austerity. they say there is no way of changing the terms of their bailout. >> the commitments they get by greece and all the member states should be kept. not because european union or euro area wishes it to be like that, but because there is no another alternative. that has less pain and less difficulties. >> barroso insisted greek leaders must implement the package of tax increases and spending cuts. he asked voters to consider the impact of the elections on other countries in the eurozone. >>> and the head of britain's central bank says that the country is studying emergency measures. that's in case the neighboring eurozone breaks up. >> and our biggest tradin

. >> reporter: the european union and the international monetary fund prescribed the measures to rein in greece's debt. in return, they agreed to a bailout of more than $100 billion. voters are expected to punish their leaders for agreeing to the deal. opinion polls suggest the two parties in the ruling coalition will lose many of their seats in at election that will serve as a referendum on austerity. nhk world, athens. >>> european leaders say they will boycott an international summit next week in ukraine. they're responding to allegations by the country's jailed former prime minister. he says prison guards have beaten her. timoshenko is serving a seven-year jail sentence. a court convicted her last october of abuse of office over a natural gas import contract with russia. she has been on a hunger strike since she claimed last month that prison guards punched her in the stomach. ukrainian prosecutors have denied using violence against her. >>> european commission president barows oh said in protest that he has no intention of going to ucrane for the conference. the leaders of german

the austerity package is a precondition for bailout funds from the european union and the international monetary fund. representatives of greece's former ruling parties say giving up the austerity policies could force the country to leave the eurozone. voters are divided. >> nobody can impose to them economic terms that are not affordable. they cannot afford them. >> unfortunately, we're going to have to keep up with austerity measures. otherwise, we don't know what's going to happen. >> but some greeks fear the worst is going to happen. local media quoted president carlos papoulias saying a total of 700 million euro of deposits have been withdrawn from banks since the may 6th election. here's a look at what would happen if greece is forced out of the eurozone. the government would have to issue a new currency, and that currency would start off weak against the euro. prices of imported goods could soar and trigger hyperinflation. greece's exit from the eurozone would also increase concerns about other european economies. portugal is already struggling to rebuild its finances after accepting bail

. >> reporter: the european union and the international monetary fund prescribed the measures to rein in greece's debt. in return, they agreed to a bailout of more than $100 billion. voters are expected to punish their leaders for agreeing to the deal. opinion polls suggest the two parties in the ruling coalition will lose many of their seats in an election that will serve as a referendum on austerity. >> nhk world, athens. >>> manufacturers around the world are trying to get their hands on some metals used in everything from cars to consumer electronics. the chinese produce more than 90% of the world's rare earth metals, but chinese officials restrict exports. now, some innovators in japan are finding way to recycle these resources. we get more from nhk world. >> reporter: this recycling plant is operated by japanese electronics giant panasonic. products for recycling end up here. they're air-conditioners, tvs and washing machines. neodymium is a rare earth metal used to make magnets. the magnets are a key part in motors for air-conditioners, mobile homes and hybrid cars. china produ

languages and people are trying to come together and have no states and one monetary union so we're wondering to introduce the european union has caused me a bit of grief of course because of course that yes an extradition warrant which allowed people to to be in freely yes. big super states are actually the way to go right it's not to be is to hear the difference i mean what i'm talking about is that what what what links moral code. to iraq what are the links cultural and most important language most everybody you know you can go to more can speak arabic and speak arabic or and every country right in between there is something and that's a unique fabric of our society if and what separates us in europe is the language it's primarily language us and so you've got that because it historically it used to be there before and if you look at the countries that i mean they already. what would be the new thing what would be new it is the is the unity would not be based upon their own personal nationalism this would be the difference because that's what we used to be like before then nationalism the only thing installed after

there's also modest forms of luck made from the part of the so-called stroy of the european union the international monetary fund and the european central bank. that. there's going this is the danger or by default if a government is knox. and the same time greece went through a political as quick in last election and austerity policies where totally rejected in what has been the biggest loss of mainstream parties in recent history so that's the problem or the on hand both the greek political establishment and the european union want a continuation of the stare at it at the same time it's not possible to actually have a legitimate and legitimized government that would continue austerity that's the real cuts so new elections aren't going to solve the problem they're going to they're going to prolong it i guess yeah. well i think the only way to solve the problem is to have a radical change in policy austerity cannot continue if you no way it is a choice between austerity and democracy the people have rejected the terms of the bailout agreements they have rejected the terms of the loan agreements they want a r

government, the oecd, most of the european union's member states, the international monetary fund, allre telling you so. >> merkel faced a barrage of criticism, not least because of big regional elections looming this weekend. many important issues facing the g-8 summit were not mentioned at all. >> in other news, syrian state media reported that unidentified terrorists planted the two car bombs that exploded today outside a secret police building in the basket. but opposition spokesmen are denying responsibility and accuse the assad regime itself of gearing up the bombings which left 50 people dead and hundreds wounded. >> the biggest attack in the capital since the start of the syrian uprising in march 2011. it was sophisticated and coordinated. one blast was followed by a second larger one, maximizing casualties, damage, and terror. the u.n. security council has condemned the killings. >> the car bombs exploded almost simultaneously in central damascus during rush hour. the interior ministry said nearly a ton of explosives was used. many who survived were left in shock. nearly all t

x e c b chief trish a unveils bold plan to save the euro europe could strengthen its monetary union by giving european pollock. mission's the power to declare a sovereign state bankrupt and take over its fiscal policy the former head of the european central bank said on thursday in unveiling a bold proposal to salvage the euro the plan offered by zhang cluttery show you step down last november as you see the president what address the fundamental weakness of the thirteen year old currency the survival which is threatened by the greek crisis well if you combine the tree show story with the morgan stanley ripping kids to thout story. i was that different than the new naziism that's emerging in greece right now i don't see a difference it's just on an institutional level by bureaucrats and male nazis in europe of course they want to have the ability to declare a state incapable of taking care of itself to move in right in there and run the country you know no poland tried to do it hitler tried to do it now trish a was to do it and finally on that max actually there's another story that regarding this eur