european union was going outside and negotiate as a bloc they had a real power because it was a biggest exporter the biggest importer the biggest foreign investor. but so in britain the trade commission of european union was complaining that i was every time he was going to negotiate with the united states in front of him we see is counterpart you know here you have your office and gardener is suited for it is and on his back he would have c.e.o.'s of big banks a big insurance companies telling please do that for me please do that for us but winterland britain was turning his back to see where its report was it was actually having only some ministers saying don't do this don't do that and please do that it only but not more and he was really not very happy you know because we discovered that there is a whole world of lobbyists in washington to tell the government what they want in the trade association. and we thought this is the way we have to go we have to do something like that the european institutions is asking for it things you can situation cannot only rely on the information given by the member states and the expert in the finance ministry is why they need to get the informat

european union was going outside and negotiate as a bloc they had. real power because there was a biggest exporter the biggest importer the biggest foreign investor. but so in britain the trade commission of european union was complaining that i with every time he was going to negotiate with the united states in front of him we see is counterpart here you have your office and garden city of seriousness and on his back he will house c.e.o.'s of big banks a big insurance companies telling please do that for me please do that for us but winterland britain was turning his back to see where the support was he was actually having only some ministers saying don't do this don't do that and please do that it only but not more and he was really not very happy you know because we discovered that there is a whole world of lobbyists in washington to tell their government what they want in the trade association. and we thought this is the way we have to go we have to do something like that the european institutions is asking for it these institutions cannot only rely on the information given by the member states and the expert in the finance ministry is why they need to get information directly from

you know so they're not a point in time european trade commission a so in britain decided ok there is association i'm not really serious about this issue i am going to invite for dinner fourteen see you of the major services companies in europe so it's about big banks big telecom big insurance big dissipations services big transport services big tourism companies when you take all the different sectors it is actually making about seventy percent of the g.d.p. in europe so we invited the bunch of forty of those. and. after dinner he said well now that you've got some some food by the commission you only saw things you have to do something for me people sometimes think that the commission comes up with ideas out of the blue pushes them it's not a tool traditionally is thirsty for ideas from the actons to hopeless to decide i want to put food. this is where the idea of creating a network of association and companies pushing for the trade in service is viewed by the private sector came up i became a managing director of the open services for. in general nine hundred ninety nine we had. el

you know so they're not a point in time european trade commission a so in britain decided ok there was association i'm not really serious about this issue i am going to invite for dinner fourteen c.-u. of the major services companies in europe so it's about big banks big telecom big insurance big decisions services big transport services big tourism companies when you take all the different sectors it is actually making about seventy percent of the g.d.p. in europe so we invited the bunch of forty of those. and. after dinner he said well now that you've got some some food by the commission you only saw things you have to do something for me people sometimes think that the commission comes up with ideas out of the blue pushes them it's not a tool traditionally is thirsty for ideas from the actons to hopeless to decide what to put food. this is where the idea of creating a network of association and companies pushing for the trade in service is use by the private sector came up i became managing director of the open services firm. in general one thousand and two nine we had. eleven month

you know so they're not a point in time european trade commission a so in britain decided ok there is association i'm not really serious about this issue i am going to invite for dinner fourteen see you of the major services companies in europe so it's about big banks big telecom big insurance big decisions services big transport services big tourism companies when you take all the different sectors it is actually making about seventy percent of the g.d.p. in europe so we invited to bunch of forty of those. and. after the dinner he said well now that you've got some some food by the commission you only saw things you have to do so. something for me people sometimes think that the commission comes up with ideas out of the blue with and pushes them it's not so a tool the commission is thirsty for ideas from the cannot make acton's to help us to decide what to put food in the interests of europe. this is where the idea of creating a network of association and companies pushing for the trade in service is used by the private sector came up and became managing director of the open services

european union was going outside and negotiate as a bloc they had real power because it was a biggest exporter the biggest importer the biggest foreign investor. but so in britain the trade commission of european union was complaining that i with every time he was going to negotiate with the united states in front of him we see as counterpart period every office in and gardener observes three or four years and on his back he would have c.e.o.'s of big bangs a big insurance company telling please do that for me please do that for us but winterland britain was turning its back to see where its report was it was actually having only some ministers saying don't do this don't do that and please do that it only but not more and he was really not very happy with you and because we discovered that there is a whole world of lobbyists in washington to tell their government what they want in the trade association. and we thought this is the way we have to go we have to do something like that the european institutions is asking for it easy of institutions cannot only rely on the information given by the member states and the expert in the finance ministry is why they need to get the informatio

european union was going outside and negotiate as a bloc they had a real power because it was a biggest exporter the biggest importer the biggest foreign investor. but so in britain the trade commission of european union was complaining that i with every time he was going to negotiate with the united states in front of him when we see his counterpart here you have your office and gardener observes through stories and on his back he would have c.e.o.'s of big banks a big insurance companies telling please do that for me please do that for us but winterland britain was turning his back to see where his report was he was actually having only some minister saying don't do this don't do that and please do that it only but not more and he was really not very happy you know. we discovered that there is a whole world of lobbyists in washington to tell their government what they want in the trade association. and we thought this is the way we have to go we have to do something like that the european institutions is asking for it these institutions cannot only rely on the information given by the member states and the experts in the finance ministry by the need to get information directly from

trade zone. the european commission says that would have world wide applications. >> which translates into tens of billions of euros every year and tens of thousands of new jobs. this offers us a great perspective at a time when we are gradually making our way to recovery. most important of all, it is a boost to our economies that does not cost 1 cent of taxpayer money. >> both sides stand to benefit. economists to warn that negotiations will be tough. the eu and washington disagree on issues ranging from industrial trade barriers and agricultural standards to data and privacy protection. >> the undertaking will not be easy. ideally, we would like to complete this work in about two years. if possible, before the end of the mandate for this commission, but more paramount than speed is achieving an ambitious deal. >> most european leaders say they are encouraged by obama's words. negotiations could start by summer with the goal of reaching agreement in 2015. >> let's find out more. we are joined now by our chief political correspondent. a big announcement there by obama. a new trans-atlantic trade a

that would be a killer for that type of trade. >> and on that note, the european commission today is due to release its winter economic forecast for gdp, inflation and employment. economic monetary affairs commissioner mali rhen will hold a conference. any major revisions won't be taken lightly by markets. hans, what are the red lines? >> both countries are at risk or undershoot on the fiscal side and there's very good reason for that. in spain, we have the ongoing problematics with little access to credit and in france, there's the impression that the country goes the wrong way on the supply and reform. and that is dampening growth expectations in france. that has negative consequences on their budget situation. so i think that is important and could lead to a market reaction. but i think it is not really the driving force for the trend.the the driving force for the trend is what is happening in japan. we as european investors need to understand. and the other driving force is that definitely on growth and political stability in europe. >> hans, i also wonder, given the weakness tha

trade pac between the u.s. and eu has been touted for decades. ing together the u.s. and the eu account for nearly half of the world's economic output. the european commissionresident jose manuel barroso called an agreement between the two trading partners a quote unquote game changer are. and outlined an ambitious timeli zone in the world, unquote. at this time of widespread unemployment, u.s. and european officials are eager to present voters with any tangible plan to create jobs and confront competition from china. both sides have vowed to eliminate the few low tariffs that remain. in fact tariffs are the easy part, eliminating trade barriers like regulatory standards is complicated. taking a cult areture. europeans won't eat clear reign rinsed chicken, genetically modified crops or hormone injected beef despite tests on their safety. procurement. europe's has quote unquote buy america provision. intellectual property the u.s. and the eof u must agree on standards for protecting intellectual property that set a benchmark for the rest of the world. also, any u.s. eu trade pac would have to be approved by the eu's 27 member states and by the u.s. congress.

trade zone. the announcement today said an agreement would add thousands of jobs on both sides of the atlantic. in brussels, the president of the european commission jose manuel barroso voiced optimism. >> a future deal between the world's two most important economic powers will be a game- changer. together, we will form the largest free trade zone in the world. so this negotiation will set the standard, not only for our future bilateral trade and investment, including regulatory issues, but also for the development of global trade rules. >> sreenivasan: talks will begin in june. officials said the goal is to finalize an agreement within two years. in afghanistan, a nato air strike triggered new outrage today, after reports that it killed ten civilians, along with four insurgents. it happened overnight during an operation in kunar province, near the pakistani border. afghan leaders said the civilians were in a house next door to where taliban leaders were gathering. president hamid karzai condemned the air strike. the international coalition said only that it's investigating. pope benedict the sixteenth was greeted with cheers today, at his final

european commission on libor. what's sensitive to the bank right now and the whole probe in general is the guys on the money market tradinginking is these employees also gave these suggested rates daily to the -- basically rate setting committees which is why this is a sensitive issue. this comes on the heels of royal bank of scotland getting fined some $650 million. this is a developing story, guys. fox business will be staying on top of this. still, a dozen banks under worldwide global investigations interrate rigging. the latest is the side traders suspended, and more heads could be rolling there at deutsche bank. back to you. cheryl: we'll watch the sphok, down 1.5% right now. >> sure. cheryl: all right. president obama's offer under attack. andy, outspoken ceo of cke restaurants, tells us why he's unhappy. dennis: barnes & noble shutting stores across the country, not good on authors relying on book signings to sell the stories. we have one guy, though, whose a new approach. cheryl: implications ahead of the postal service ending saturday delivery. a one-on-one interview with the postmaster general is coming up in 16

trade between the u.s. and the european union. now, i spoke to president obama about this after i congratulated him upon being re-elected as president. now, the european commission expect will make an early decision about giving the irish presidency a mandate to talk to the united states about this and there is a mechanism and a procedure to be followed in the states. but i would hope that in the course of the irish presidency, that that mandate and that platform can be arranged so that those discussions can take place. in time, it would result in two to three million extra jobs and the capacity to lift the gdp of europe and indeed the space by about 2%. >> en dey kenny, we are going to leave it there. kelly, i'm going to throw it back to you. >> thank you so much for that interview with enda kenny, the finance minister of ireland. also he talked about -- and this is where we want to pick up some comments from barroso out of the european union, talks about how there can't be a delayed with regard to european policy making and ireland getting the help et needs to prep forward. >> ross is here. you were shaking your ahead when it talks about the other issues. >> w

the european commission thought that that gap was deliverable, so i think that answers that question. on eu-us tradeoke to president obama about half an hour ago, and i think we are making progress. i will continue strongly to push and support that measure. on the issue of how we use the european union to encourage growth, one of the greatest things we can do is to complete the single market in digital, in energy and in services, and it is this government, working with allies, who are delivering precisely that. on the overall deal, there is a real need to ensure that the european parliament supports it. we are often challenged about the friends we have in europe, but i would challenge the right honorablegentleman about his friends there. what is he going to say to his friends in the party of european socialists who are is this government, working with allies, who are delivering precisely that. on the overall deal, there is a real need to ensure that the european parliament supports it. we are often challenged about the friends we have in europe, but i would challenge the right honorablegentleman abo

commission and the parliament. they understand all of these things. we have made our decision clearly in the the future of the eurozone and era. our biggest trading partner is european union. britain can remain part of that. but i would argue that many of the issues that arise by politicians, from a bureaucracy or administrative point of view, these are things you can change from the inside. that is why i would like to see the digital market become truly singlet. i don't speak for the british government, but whatever happens, i would like to see you that this would remain central to the european union and its future. it's very important that we have a sense for most of the big opportunities arise. >> would be very interesting to talk more about this. i'm interested in the degree to which you have a margin of maneuver as a smaller country within this big block. >> thank you. well, first of all, i think this whole christ is the we have been through, and we are not through yet. those who are unemployed, we are not through the crisis yet. this wake-up call should be used in a good way so that it will be a way of taking us through to the other side. this is what we would

commission and the parliament. they understand all of these things. we have made our decision clearly in the the future of the eurozone and era. our biggest trading partner is european union. britain can remain part of that. but i would argue that many of the issues that arise by politicians, from a bureaucracy or administrative point of view, these are things you can change from the inside. that is why i would like to see the digital market become truly singlet. i don't speak for the british government, but whatever happens, i would like to see you that this would remain central to the european union and its future. it's very important that we have a sense for most of the big opportunities arise. >> would be very interesting to talk more about this. i'm interested in the degree to which you have a margin of maneuver as a smaller country within this big block. >> thank you. well, first of all, i think this whole christ is the we have been through, and we are not through yet. those who are unemployed, we are not through the crisis yet. this wake-up call should be used in a good way so that it will be a way of taking us through to the other side. this is what we would

commission and the parliament. they understand all of these things. we have made our decision clearly in the the future of the eurozone and era. our biggest trading partner is european union. britain can remain part of that. but i would argue that many of the issues that arise by politicians, from a bureaucracy or administrative point of view, these are things you can change from the inside. that is why i would like to see the digital market become truly singlet. i don't speak for the british government, but whatever happens, i would like to see you that this would remain central to the european union and its future. it's very important that we have a sense for most of the big opportunities arise. >> would be very interesting to talk more about this. i'm interested in the degree to which you have a margin of maneuver as a smaller country within this big block. >> thank you. well, first of all, i think this whole christ is the we have been through, and we are not through yet. those who are unemployed, we are not through the crisis yet. this wake-up call should be used in a good way so that it will be a way of taking us through to the other side. this is what we would