closely allied to the united states morsi gambled and lost as he kept on supporting the international monetary fund's new liberal policies and as for the people in tahrir square this loose coalition the opposition so many different names communists and guests is limited to people who voted for morsi because they didn't want the army candidate in. there are just have such a huge wide variety of people all thinking that this military solution is the one and will lead to other elections and this is the way forward this is a very serious situation indeed but this is really the arab spring the way that the americans wanted but the military are saying the people are asking for their help what exactly is the military talking about there in terms of the people needing help. well we've got to remember the history of the egyptian military famous for torture mass imprisonment brazen trade of any kind of human rights all through the mubarak years when of course the united states treated. treated secretly mubarak as their puppet and then they tried then they applauded morsi fifty one percent in the elections all

they need to have the dialogue here with christine lagarde of the international monetary fund. becky, another clear point here from the u.s. in the statement that came out of the white house. president obama suggested they'd need to have a democratically elected government. they didn't suggest the democratically elected democratic government of president morsi here. so what the white house is looking for and why they suspended aid, they didn't want the military to take control and hold on to control. they would like to see a smooth transition. that's what the business community is looking at as well. they had phenomenal foreign direct investment before the revolution. $45 billion through t2011. after 2011, 2012 the total was only $4 billion and mostly in oil and gas. they need to get that fdi back in. they need to get security for tourists back in. and he they need to get the loans going forward as well. >> yeah. tough times. it's a big job. and we are look at the installation at least of a transitional president within the next half hour. that is a start. and let's hope for th

we hope the global economy might be turning a corner, today came a warning from the international monetary fund that there could be storm clouds ahead. the imf is forecasting a growth this year and next could be slower than anticipated. i spoke a brief time ago with the imf's chief economist. what made the forecast lower global economic growth? news frominor bad most of the world. for now, we have revised the forecast 20 two%. the main use is in the emerging -- 22%. the main news is in the emerging market countries, the big ones. they're all slowing down at the same time. you think maybe exports to advanced countries, given the advanced countries are not doing great, would explain some, and it does, but not all. >> china, for example, what is going on there? >> just from an accounting point of view, investment was less than expected, consumption was less than expected. so just a slowdown. it looks as if there is a slowdown, and the important thing is that it looks like a decline not only in actual output but in potential output. again, the explanations seem to be different across countries. in

we hope the global economy might be turning a corner, today came a warning from the international monetary fund that there could be storm clouds ahead. the imf is forecasting a growth this year and next could be slower than anticipated. i spoke a brief time ago with the imf's chief economist. what made the forecast lower global economic growth? news frominor bad most of the world. for now, we have revised the forecast 20 two%. the main use is in the emerging -- 22%. the main news is in the emerging market countries, the big ones. they're all slowing down at the same time. you think maybe exports to advanced countries, given the advanced countries are not doing great, would explain some, and it does, but not all. >> china, for example, what is going on there? >> just from an accounting point of view, investment was less than expected, consumption was less than expected. so just a slowdown. it looks as if there is a slowdown, and the important thing is that it looks like a decline not only in actual output but in potential output. again, the explanations seem to be different across countries. in

. >> other stories making the headlines -- the international monetary fund has told greece it must doetter to deliver more on promised reforms. part of the 110 billion euro bailout package negotiated with international lenders back in 2010 to keep athens from going bankrupt. >> a californian student has been awarded over $4 million in compensation after he was left forgotten in a prison cell for five days without food or water. he was mistakenly arrested during the drugs raid last year in san diego. law enforcement agencies have apologized. >> cambodia's prime minister says his party is open to dialogue with the opposition following sunday's contested general election. he also says he would welcome any investigation into voting irregularities. the opposition has rejected the results. >> the next time you log onto social media, you might want to like or follow your favorite politician. if you have one, of course. it turns out they might be paying attention. >> as campaigning in german election heats up, candidates are looking for votes both on and off-line. >> tranquil pedestrian zones

the years be unsettling, the international monetary fund and the european commission would come together increased demand island of portugal to say okay, here's the thing get a did receive this, and these are very detailed document, long documents. you need to make these reforms ttwo pension system. you have to make these reforms to your procurement. it was the least bad option for this country but it's also a very unusual moment. you have these elected officials in frankfort who are dictating his which are going to do on your pension system, on your health care system. and everything else. so that's one prime example of why the democratic questions that arise from this great power exerted by the central bankers is at its most extreme. anytime you're central bank is dictating what you're going to do on your pension, something has gone wrong in the world. so one more story i want to kind of tell and help characterize what this saga has been, quantitative easing. so we get through this dark stage of the crisis, 2008-2009 and you find yourself in an economy that it was not very good at all.

pakistan is also turning to the international monetary fund for help in tackling its pressing problems. the two sides have agreed to a provisional deal for a $5.3 billion loan to be disbursed over a three-year period. the sharif administration hopes it will help pakistan rebuild its economy and take on energy shortages. an imf delegation announced the deal following negotiations with pack sta pakistani officis in islamabad. >> a pakistan designed and built program, which we feel like we can support. it consistens of comprehensive reform to help solve the severe shortages which have been zapping economic growth potential. >> the agreement will be further developed by officials of the imf. its executive board is likely to approve the loan as early as september. as it faces a deteriorating state of security, pakistan is bringing back the death penalty, which it suspended in 2008. human rights groups are speaking out against the decision. the previous government placed a five-year moratorium on capital punishment which expired this year on june 30th. sharif's administration says it does no

. >> the former head of the international monetary fund, dominique strauss conn, will stand trial for pandering. he is accused of involvement in a prostitution ring that supplied women for sex parties. >> cambodia's political parties have been hitting the streets and a final push for votes ahead of sunday's general election. the prime minister is looking to extend his 28 years in office. his cambodian people's party is widely expected to retain power. rights groups have dismissed the vote as a charade. >> he may well be set to extend his grip on power in cambodia, but that does not mean everyone in the country is happy with his rule. >> one issue that has stoked anger is government moves to build dams on a number of rivers, as we mentioned, with the help of chinese investors. the dams are damaging the livelihoods of millions of people as well as the environment. >> our correspondent traveled to the cÉzanne river in the north of the country and send huss this report. -- sent us this report. >> he has been a fisherman all his life here in the north of cambodia. but now, he fears his liv

in a report released tuesday, the international monetary fund said the global economy would grow 3.1% this year. that's down 0. 2 percentage points from its previous forecast in april. the imf says many of the major emerging economies are slowing. it lowered china's growth forecast by 0.3 percentage points to 7.8%. it also predicted a contraction of 0.6% for the eurozone economy, and cut its growth estimate for the u.s. to 1.7%. but the fund expects higher growth in japan. it raised its forecast for the nation from 1.6 to 2%. that's the highest among the group of seven industrialized countries. it explains that japan's economic policies, including a massive monetary easing program, will help boost consumption and exports. >>> imf chief economist olivia black char said growth is stronger than expected but urged the nation to implement fiscal and structural reforms as soon as possible. >> on this, the second arrow, which is the fiscal stimulus, is soon complemented by credible medium-run fiscal plan. and the third arrow, which is structural reforms, reflects substantial reforms. i think

. >> the former head of the international monetary fund, dominique strauss conn, will stand trial for pandering. he is accused of involvement in a prostitution ring that supplied women for sex parties. >> cambodia's political parties have been hitting the streets and a final push for votes ahead of sunday's general election. the prime minister is looking to extend his 28 years in office. his cambodian people's party is widely expected to retain power. rights groups have dismissed the vote as a charade. >> he may well be set to extend his grip on power in cambodia, but that does not mean everyone in the country is happy with his rule. >> one issue that has stoked anger is government moves to build dams on a number of rivers, as we mentioned, with the help of chinese investors. the dams are damaging the livelihoods of millions of people as well as the environment. >> our correspondent traveled to the cÉzanne river in the north of the country and send huss this report. -- sent us this report. >> he has been a fisherman all his life here in the north of cambodia. but now, he fears his liv

. >>> the international monetary fund has issued a record on the chinese economy. it warns of the risks of so-called shadow banking though it says the pace of growth for 2013 will stay as high as the previous year. in the latest annual assessment of china's economy, the imf forecast growth at around 7.75% for this year. it says strong domestic demand will offset the negative impact from a global slowdown. but the imf also says the country faces a number of problems on financial and fiscal issues and the real estate sector. specifically, the imf pointed out the risks of expanding shadow banking transactions. it says the money raised through financial products that are opaque and not properly regulated are follow to local development projects and real estate investments. observers say the government is to blame. they say the policy of limiting interest rates on bank deposits has fueled the expansion of shadow banking. that's because depositors seek higher returns. the imf urged monetary authorities to step up their regulation on such activities and let banks set thei

. >> according to the international monetary fund, this country has the world's fourth fastest growing economy at 9%. much of that is because of hydroelectric power sold to neighboring countries and a thriving tourist industry. below the population is the age of 30. this analyst says the government is moving in the right direction to encourage growth, but it will take time. >> there is a policy in place to theurage and promote building of the industry and manufacturing base. we have a policy in place. they also have provided a lot of generous tax breaks. >> he is a graduate from india. niche in waste that has increased sevenfold. >> the next government can do in ahing extraordinary much better way than what the current government has done. his company has an annual turnover of $100,000. he is exempt from taxes for the next 20 years. the young people seem to know if they are going to make their mark on the country, they need the newly elected government to listen to their hopes, dreams, and aspirations, and help them. if it does not, future generations may leave and take with them any h

the international monetary fund has cut its global growth outlook for this year and next, saying the increasing likelihood of the u.s. federal reserve unwinding its easy money policies is aggravating a slowdown in emerging markets. >> the imf reduced its 2013 prognosis from 3.3% to three point one percent, saying it had underestimated the depth of the recession in europe. -- to 3.1%. the forecast was linked to a downward revision of u.s. growth. that said, europe's leading economy, germany, will record growth, but it will be modest at just 0.3%. stay with us. we are going to a short break. when we come back, rolling back global corruption. wax stay with us. wax stay with us. >> welcome back. thanks for staying with us. transportation international has confirmed what millions of people around the world have been protesting against -- the corruption is making ever deeper inroads in courtrooms, legislatures, and banks. >> the group pointed to corruption among the police, the judiciary, and especially, political parties. the survey also shows people are less willing to tolerate corruptio

the international monetary fund has cut its global growth outlook for this year and next, saying the increasing likelihood of the u.s. federal reserve unwinding its easy money policies is aggravating a slowdown in emerging markets. >> the imf reduced its 2013 prognosis from 3.3% to three point one percent, saying it had underestimated the depth of the recession in europe. -- to 3.1%. the forecast was linked to a downward revision of u.s. growth. that said, europe's leading economy, germany, will record growth, but it will be modest at just 0.3%. stay with us. we are going to a short break. when we come back, rolling back global corruption. wax stay with us. -- >> stay with us. >> welcome back. thanks for staying with us. transportation international has confirmed what millions of people around the world have been protesting against -- the corruption is making ever deeper inroads in courtrooms, legislatures, and banks. >> the group pointed to corruption among the police, the judiciary, and especially, political parties. the survey also shows people are less willing to tolerate corrupt

however, the international monetary fund revising its global globe forecast for the next two years saying it expects economic activity to slow down because of the recession in europe. >>> let's check in with cnbc's jeff cutler live in london. we can't blame you for that, right? you guys are still dealing with quite a bit of negative head winds there. >> yeah. i mean, i'm a britt. we're talking about the continental european. i will push the thoughts on down the road on this one. the imf was saying the u.k. may grow more than it had anticipated. they cited europe and they cited china and brazil and they said 3.1, not 3.3 this year. when it comes to next year, 3.8 and not 4. i'll tell you what, the u.s. also got a cut as well. 1.7 as opposed to 1.9. christine la guard has been critical. the ftc has slapped a fine of $3.2 million on a debt collection agency. this company is called expert global solutions. i guess nobody really likes debt collection agencies. there will be those that will cheer this. apparently this company was chasing debt for people that they didn't even owe. i guess it's a

four day week and sell the debt ridden national railway also made to months said by the international monetary fund. and in-depth look at the financial headlines up ahead in our new showtime interest. boy oh boy there are a lot of conspiracy theories out there for a mysterious extra planet strip killian creatures living among us but there also may conspiracy theories that are very plausible and some that are well actually true one that i've heard for a long time is that they are specifically trying to fool the police with dimwits to abuse the american people which is silly right writes well according to a.b.c. news the discrimination lawsuit revealed that robert jordan was denied the chance to become a new london police officer because he was too smart his entrance exam score was a thirty three which is an i.q. of one hundred twenty five and it was just too high to allow him to defend the public good that police department only accepts candidates who have scores from twenty to twenty seven the logic is that people who are too smart get bored as policemen and they're more likely to quit after years

government says ok we're going to do it we're going to treat america essential like the international monetary fund has treated third world countries for thirty years we're going to impose austerity the way of solving things the only way that the banks think is to treat america like greece to treat it like europe is treated italy to impose austerity and really tighten the screws nobody has found an alternative to impoverishing the economy to pay the banks something has to give so let's talk about what might give here i mean before the bust as asset prices were rising families were taking on more and more debt and we've seen the leveraging since two thousand and eight what's in store for the average person not necessarily the. banks but in terms for the average person. well unemployment is still pretty high the average family is pretty debt ridden now you have student debt rising. a lot of families are drawing down living off credit cards to breakeven they're not able to get mortgage loans so they can't raise their consumption that way so essentially you have for most families the market's shrinking

tracy: crude oil caught between the international monetary fund's global economic growth forecast andn eequipment of course. -- in egypt. phil flynn, price futures group on the floor of the trading pits. what is going on? >> traders don't know which way to take it. i'm not sure this last rally at the end of the day to put crude higher is continuing concerns about egypt or really about rbob gasoline. we've seen a pretty good move up in the rbob gasoline. we're up three cents a gallon partly because of a refinery fire that happened in california and partly because of tropical storm chantal. chantal could slow imports into the gulf coast where we saw a big drawdown in gasoline supplies last week. a little bit of support, probably another thing that we haven't talked about that could be supporting crude today. tracy: what about gold, phil? second day up, thanks to chinese inflation. can not be like a return to the gold ride, is it? >> you never know. tell you what, you come back down, everybody wrote off the goldmarkket that is when you want to buy the market when there is blood on the st

makes it more difficult for egypt to achieve its fiscal targets to secure a loan from the international monetary fundrnment revenues, increased spending on subsidies and salaries rapidly declining currency reserves and economic growth of less than 3%. when it comes to a possible fiscal rescuerom the imf, one analyst says there are international and regional interests in stabilizing the egyptian economy. >> it is traditionally historical one of the centers of gravity of the arab world. and for that reason, if egypt successfully makes the transition to a successful economy and also to of broadbased democracy it will have huge ramifications and other countries as well. >> reporter: as these massive protests continue, dow jones reports british oil company bp is withdrawing staff at contractors in the country. tracy: these guys rely on tourism. you have seen images like this is tom anderson the canceling a trip pretty fast. >> reporter: and tourism is about to percent of the egyptia economy. revenues from visitors are down 40%. the state department just warn that americans should put off travel if they ca

it's got all the same protection almost all of the united nations or the international monetary fund. from the moment it was set up by an international treaty, the bis premise was almost extraterritorial. the swiss authority have no jurisdiction over it. same as the american embassy, or the british embassy. it has that protection. during the 1930s it became a way for the central bankers to discuss it away from the politician and the reporters. in fact, during the '30s the bank was a so secretive, there was a "new york times" out to do a piece on the bis. he got to the building and said after the director's meeting, he wasn't even allowed to the room because of the space was so protected. so sacred. i think it's interesting. what it tells us, if you ever wondered how we got this place where all the people from the imf and the world bank whatever flying around the world, for example. how did we get here? these unelected technocrats are telling elected government what to do. it started a the the bis, the birthplace of the global financial tech no karat. in the 19 0u it did some good thin

the international monetary fund cut its growth forecast for the u.s. and world economy.y reducing the alex for 2013 and 2014 by two tenths of a percentage point. ashley: legged you. liz: right under the line. ashley: you even waited. liz: took a breath. ashley: a new report showing that chinese buyers are pouring into the u.s. housing market, probably to get away from the awful air pollution and spending lots of money on expensive homes liz: they want to breathe, but where are they flocking to and how much are they spending? we are joined with the details. they are sort of the new russians. >> and they're paying top dollar. we're going to show basically where they're buying, california, nevada, arizona, texas, north carolina, new york, if you have a buyer from india, china, canada, the u.k., hold on because china is paying top dollar. 70 percent of the deals are in cash. $425,000 is what their forking over. indian buyers are paying 300,000, uk, 250,000. that figure is for all international buyers. the mean for just u.s. buyers is 180,000. so these guys are paying big mon

off new investments into the economic growth than taxation transparency and of course the international monetary fund reform now in particular the g. twenty back quite a fundamental rethink are the rules on taxing multinational companies to fight those loopholes that this company is are using to avoid at times the billions of dollars in taxes now in this moscow meeting is also part of some major proper a sense for the g twenty summit that will take place and that's the tambour ensign petersburg and russia is the current holder of the annual presidency of the g. twenty now g twenty an international platform that really took believing raul in the middle of two thousand and eight financial crisis here now faces some trial and all of the multi-speed global economy and some really hits it debates are expected to have rocked the september ensign peters burke and we will surely bring you the latest. for it up next year about c.e.o. edward snowden the focus of so for code in just a moment. you want is something truly baffling the u.s. supreme court has ruled that generic drug makers cannot be sued for bad re

turning to the global economy, the international monetary fund has cut its growth forecast for the yeart it because of emerging markets and how much they have slowed down. gm still has places all around the world reid thinks he can still make money using u.s. names. the managing director. and first, let's go by countries because yesterday at this very time, david winters was sitting in this chair and said he like brazil and canada, not necessarily all emerging, but you like different countries. >> the place to invest in emerging markets is different going forward and what it used to be. i would not really agree with either of those, but this old model does not working or because it was export driven. china slowing down. there simply is not demand for the brazilian exports that there used to be, and frankly they have a problem in terms of economic growth down to zero and high inflation and the currency is not doing well. liz: stay away from brazil. >> i would stay away. i'm not negative on canada, would they will have a problem in terms of exports also as the global emerging world slows

here in washington, the international monetary fund has just issued its latest economic forecast. it predicts a slowdown in global growth because china, india, brazil, and russia are experiencing slower growth while the recession continues in europe. the imf economists also said the world is watching how our federal reserve exits from its economic stimulus measures. there was also news from greece that it will get its next batch of bailout cash, $3.2 billion because progress is being made in reforming its government and finances. that was enough to keep world markets in positive territory as well. aaron, back over to you. >> hampton, thank you. >>> today we're taking a look attribute treatments that could put your health at risk. dr. cheryl burgess is here with the dos and don'ts of looking good. we appreciate you coming in this morning. lets start with gel manicures. the concern there is not so much the gel but the ultraviolet light they use when they do this manicure. >> there was one paper published showing that someone developed skin cancer on the back of their hands. we don't

he was the head of the former international monetary fund who was arrested in new york accused of sexuallyg a hotel employee. today he says he's still bitter about being perp walked in front of the news cameras. >> i think it was a terrible thing. the problem is that it's a moment where in all european american society you supposed to be innocent until you're convicted. the perp walk takes place at a moment where you're supposed to be innocent. what happens if you're just shown to everybody as if you were a criminal at a moment where nobody knows it's true or not. it's just unfair to put people in that way in front of the rest of the world when you just don't know what they have done. >> you can see more video clips on cnn.com. the entire conversation with richard quest. it's airing on cnn international. >>> murder for hire. a police video taken during a sting operation shows a mother of two trying to hire someone to kill her husband. the video has gone viral. what drives somebody to pay for murder? john berman investigates. >> i'm going to take him head on and shoot him in the face. >> re

make a profit, but it's got almost all the same protections as the united nations or the international monetary fund. so from the moment it was set up by an international treaty, the bis' premises is almost extraer extraterritorial. the swiss authorities have no jurisdiction over it. same as the american embassy or the british embassy has that level of protection. and during the 1930s the bis became a place where the central bankers could meet meet and discuss things away from politicians and away from the eyes of reporters. and, in fact, during the 30 bes the bank was so secretive that there was a new york times reporter who went out to because el to do a -- basel who went out to do a piece for the magazine. and he said after the directors' meeting he wasn't even allowed into the room when they'd all gone because the space was so protected and so sacred. so i think that's very interesting because what it tells us is if you've ever wondered how we got to place where all these people from the imf and the ecb and the world bank and whatever are flying around the world -- greece, for example -- i mean,

well, the former chief of the international monetary fund dominique strauss-khan or dsk as we have comell him set to go on trial in france on charges of aggravated pimping. they involve a us is suspected hotel prostitution ring and whether dsk knew that he was partying with prostitutes back in 2010 and 2011. those prostitutes told officials that strauss-khan had sex with them on multiple occasions at a luxury hotel and restaurant in paris and in washington, d.c. where the imf is based. his lawyers say strauss-khan admits that he did attend certain gatherings but said he did not know that those woman were prostitutes. no trial date yet. the case puts the 64-year-old back in the spotlight. you'll remember he was arrested two years ago here in new york following allegations that he sexually assaulted hotel maid. she essentially dropped the charges in a settlement. a tour bus plunges into a raging river and trapping a tour guide and topping our news around the world in 80 seconds. china: officials say flash flooding in a central province caused that driver to lose control. rescue workers us

. >>> former international monetary fund head dominique strauss-kahn will be tried on charges of pimpingcknowledged attending sex parties at a hotel in a french city. he maintains he did not know some of the women who participated in the parties were prostitutes. a lawyer for strauss-kahn called today's decision, quote, absurd. strausz kahn quit his post in 2011 after a maid accused him of rape here in new york. a charge that was later dropped. >>> pope francis draws throngs to his first ever foreign trip. he brought a personal touch to his trip, repeatedly reaching out from that famous pope mobile to hug and kiss adoring members of the crowd. today, thousands turned out to see the pope deliver a prayer. later tonight, the pope will return to the beach front of copacabana where last night he was greeted by more than 1 million young pilgrims. on sunday, 2 million are expected at the beach for his final visit. claudio joins me now there in rio. a much better day today weather-wise. let's start with that sunday mass. it did have to be moved because of the weather. >> reporter: well, absolut

without the world bank or the international monetary fund, we are better off economically. we do not need them. we have other allies. >> sreenivasan: snowden has reportedly applied for asylum in six new countries. the website wikileaks reported that, adding the countries won't be identified to try to keep the u.s. from interfering in the applications. pope francis signed a decree today clearing the way for two former popes to become saints. pope john paul the second led the roman catholic church for nearly 27 years before his death in 2005. his would mark the fastest elevation to sainthood in centuries. pope john the 23-- who served from 1958 to 1963-- will also be canonized, even though the vatican has yet to confirm a requisite second miracle. michael sean winters of "the national catholic reporter" said pope francis' choices were very deliberate. >> pope francis is trying to send a signal that there are certain catholics always invoking john 23rd and other catholics always invoking pope john paul ii. and francis is trying to say there are two ways of living out the chris