, to be a good european. i think it is becoming better. peter: but the good european believe greece recently. alan: i don't agree. ursula: it was trying to hold greece within the eurozone. it was trying to make them obey the rules, which are written down. it was trying to make all the others ready to pay for greece once more. peter: judy is shaking aphis that you. judy: this question of bullying, i guess agree with this. -- i disagree with this. many countries hid behind germany. sometimes, merkel is very quiet. fundamentally, this europeanization is not about making a moralistic culture. this is about dealing with globalization. this is what the euro crisis is about. there are several countries in the eurozone that should never have joined the euro and one of them is greece. germany was pushed into doing this for many reasons. short lot and merkel, schaeuble sees it as europe being prepared. nobody is naive enough to believe germany can go on with this huge -- we haven't even seen the beginning of globalizat

guest: the good news is i believe the european union has a future, but the caveat is the european union is facing its biggest trust test since -- biggest stress test since its foundation. they have to demonstrate to its partners and to the united states that it's able to handle its own crises at home and as abroad. i can see that the european union will have or member states that the 28 member states, meaning that some member states like the brits, germany will need more confidence to go forward and have more confidence in areas like lauren and security policy and other member states will -- anchor: i'm so sorry, we have to leave it there. zizi:á>úññ

terran: i think we already see the european union -- karen: i think we are a see the european union playing a critical role on the world stage. over a year ago, we saw a russia annexed crimea era. we see ongoing violence -- we saw a russia annexed crimea -- we saw russia annex crimea. we have seen 28 members of the eu agree on successive rounds of sanctions in coordination with the u.s. i think that has an a powerful response to the russian aggression. matt: finally, you mentioned some of the crises europe is facing at the moment. under the current way europe operates, do you think it is capable of handling them? or are they going to have to come to some decisions before they can really move forward? karen: one thing we have seen with all of these crazies is that you not only need the european union as an institution to respond, you need to see member states showing leadership . of all of these crises that i mentioned, it is germany as the economically strongest and most populous country in the eu that is being looked to for leadership. we have seen germany show that leadership on ukraine,

and european perspective. the numbers are arguably the first big difference between the two sides of the ocean. european number of foreign fighters, the problems really empireally determining numbers and finding correct numbers, peter has don't ground breaking work to determine that. extremely complicated effort, law enforcement intelligence agencies have a problem in doing that. unquestionably the number of european foreign fighters, than number of american foreign fighters. the size of problem is completely different. european setting france, estimated 1200 individuals. germany, the u.k., in the six, 700s. even smaller countries like belgium with staggering 400 individuals. eastern european countries, kosovo, very tiny country, 3, 400 individuals. these are completely different numbers from the u.s. where the latest numbers given by the government, the fbi, talking about 200 individuals traveled or attempted to travel to syria. so, we're talking about a much, much smaller number. a lot of people have actuall

guest: the good news is i believe the european union has a future, but the caveat is the european union is facing its biggest trust test since -- biggest stress test since its foundation. they have to demonstrate to its partners and to the united states that it's able to handle its own crises at home and as abroad. i can see that the european union will have or member states that the 28 member states, meaning that some member states like the brits, germany will need more confidence to go forward and have more confidence in areas like lauren and security policy and other member states will -- anchor: i'm so sorry, we have to leave it there. damien: hello and a very warm welcome to "focus on europe," with some of the best personal stories behind the headlines. i am damien mcguinness. and we've got a great show lined up for you today. in finland, the long-lost children of hitler's army. in turkey, the authorities get tough. and ukraine, a new safe haven for the russian opposition. i can remember being quite shocked when i once heard how an elderly estonian lady had fond memories of one of

terran: i think we already see the european union -- karen: i think we are a see the european union playing a critical role on the world stage. over a year ago, we saw a russia annexed crimea era. we see ongoing violence -- we saw a russia annexed crimea -- we saw russia annex crimea. we have seen 28 members of the eu agree on successive rounds of sanctions in coordination with the u.s. i think that has an a powerful response to the russian aggression. matt: finally, you mentioned some of the crises europe is facing at the moment. under the current way europe operates, do you think it is capable of handling them? or are they going to have to come to some decisions before they can really move forward? karen: one thing we have seen with all of these crazies is that you not only need the european union as an institution to respond, you need to see member states showing leadership . of all of these crises that i mentioned, it is germany as the economically strongest and most populous country in the eu that is being looked to for leadership. we have seen germany show that leadership on ukraine,

stronger european institutions. which means that sooner or later probably national parliaments should give up some of their power and the member states should give up some of their sovereignity. how long will it take? i don't know, but i think this is the direction we should take. sarah: interesting part -- proposals there, thank you very much, andreas. kristof, i understand that you have one of the highlights right now? kristof: that's right. one of the neat things regarding the european union is that you are able to move around within it without restrictions. that can prove especially useful when you are looking for work. instead of sitting around, someone looking for a job can acquire skills elsewhere, stimulating the country's economy and bringing back those skills home. if they return, those people? here's a good example. portugal struggling with a double-digit unemployment rate. germany and return needs more skilled workers. one year ago we went to the east of germany to see the portrait -- portuguese who need

this percent amazing representation of europeans. something seriously is happening within our societies and phenomena among foreign fighters is but one. i prefer to -- lorenzo knows this, i prefer to use jahadi mobilization which included phenomena foreign fighters plus those who had been radicalized because of iraq and syria conflict, including individuals arrested and so and and so forth. they are just part of the amazing extraordinary presented femme onlyna jahadi's mobilization which is taking place in western europe since 201 -- 2011. now western europe is not uniformly affected by this phenomena. the big ohs countries are not providing foreign fighters, nor it is true that those european countries having a larger proportion of muslims with respect to the total among population are more affected. two european member states where you have the largest proportion of muslims with respect to the toal -- total population. you have cases of radicalization. turkish population list -- we don't have a problem with those. where is it that

stronger european institutions. which means that sooner or later probably national parliaments should give up some of their power and the member states should give up some of their sovereignity. how long will it take? i don't know, but i think this is the direction we should take. sarah: interesting part -- proposals there, thank you very much, andreas. kristof, i understand that you have one of the highlights right now? kristof: that's right. one of the neat things regarding the european union is that you are able to move around within it without restrictions. that can prove especially useful when you are looking for work. instead of sitting around, someone looking for a job can acquire skills elsewhere, stimulating the country's economy and bringing back those skills home. if they return, those people? here's a good example. portugal struggling with a double-digit unemployment rate. germany and return needs more skilled workers. one year ago we went to the east of germany to see the portrait -- portuguese who need

if we're looking at european setting, 1200 individuals. even smaller countries like bell bell -- belgium. these are the numbers given from the government, fbi. 200 individuals traveled or attempted to travel to syria. we're talking about a much smaller number. people went and fought there. the 200 number should be reduced. here in the u.s. very legal tools and attitude from law enforcement which is for aggressive than in most european countries. a lot of very effective tactics that the fbi uses and not really used in europe. i would probably suspect that if any european law enforcement agency were to use tactics the number of peoples they arrest would be completely different. why are the numbers so different between europe and the u.s.? i don't think there's just one explanation. it's a combination of factors. first time is logistic difficulties. from europe it's easy to reach turkey and syria. it takes 100 euros. it is slightly more complicated and more expensive from the united states. there's a second reason, it has to do with the fact

european countries are not the only ones affected.urkey's ambassador has warned that the country is at capacity and said up to a million more people may flee syria if the fighting intensifies. by mid-august this year, 158,000 people had reached greece by sea. that puts rivals there ahead of italy where so far over 90,000 have come ashore. now leaders of the western bakken nations are meeting in vienna in a bid to find a common strategy to deal with the worst refugee crisis to hit europe since world war ii. let's go to barnaby phillips who is following represents in vienna. barnaby for years, politicians in europe have been talking about need of a pan european approach to deal with the problem of these refugees where every they may land in europe. are we closer to that there in vienna? >> i don't think we are, necessarily, barbara, because it was only a limited e.u. participation, albeit an important one, angela merkel, the german chancellor was here, and she was talking very strongly about the need for solidarity for quotas that europ

the european union is also providing two thirds of the funding. the center can provide 2000 meals per day and allow migrants to take showers and have access. there is also help for women and children, who are in a highly nerablee position -- vul position. thate also making sure migrants who are seeking asylum are able to do that in calais. they will be given housing outside calais, rather than trying to use the euro tunnel route, which is dangerous, if not fatal often. hundreds of migrants have been able to live in paris. we have called on the european union to make a financial contribution so that they can help us provide places for the migrants who choose this request, as well as the to set up a camping site and a welcoming zone. two will be in calais soon to assess our approach and determine how much financial contribution the european commission will provide. arepolice forces determinedly fighting criminal human trafficking organizations. moving migrants up to the u.k. have been dismantled since the beginning thehe year, versus 14 in full year

phistication of the european dynamics that we have a spectrum united states. just a american foreign fighter seen as scattered individuals here and there were radicalizing on social media is an oversimplification. it is indeed more difficult to travel to syria and we do not see the clusters we see in the u.s. and that's one of the reasons that explains why in the states we have seen in compared terms a disproportionately large number of loan at there's attacks. some of them in one way or another link to isis. for example the shooting attempt and the cartoon event in garland texas but they act that are difficult to categorize and find the jihadist footprint. chattanooga. i'm thinking about the hatchet attack in new york. think about the beheading in oklahoma. very strange cases very difficult to categorize but clearly some inkling of jihadist ideology there that there are a lot of other issues like mental health with personality disorders and so on. one could argue in this is that the hypothetical level that a lot of these individuals in europe find it much eas

european and u.s. indices rallied big time, but before the shanghai composite index again sought a sharp drop. the situation in china is not only business but also political leaders concerned -- has not only business but also political leaders concerned. the german and french foreign ministers offered a surprisingly blunt judgment of chinese economic growth prospect. at their meeting on tuesday, they cautioned against underestimating the dangers looming in china. germany is also warning people will be waking up to reality is very different to what they had previously believed. even in terms of his nose, it seems that long-established certainties, processes, and rules are now in a state of >> -- a state of flux. on tuesday, the self-confidence was not shaken at all. in hong kong, the interest rate cut the chinese government showed an immediate effect. investors seem to believe the measures will stabilize the chinese economy. on the frankfurt stock market, the blue-chip dax recovered all of its losses. s

european and u.s. indices rallied big time, but before the shanghai composite index again sought a sharp drop. the situation in china is not only business but also political leaders concerned -- has not only business but also political leaders concerned. the german and french foreign ministers offered a surprisingly blunt judgment of chinese economic growth prospect. at their meeting on tuesday, they cautioned against underestimating the dangers looming in china. germany is also warning people will be waking up to reality is very different to what they had previously believed. even in terms of his nose, it seems that long-established certainties, processes, and rules are now in a state of >> -- a state of flux. on tuesday, the self-confidence was not shaken at all. in hong kong, the interest rate cut the chinese government showed an immediate effect. investors seem to believe the measures will stabilize the chinese economy. on the frankfurt stock market, the blue-chip dax recovered all of its losses. s

juliet: from a european investors, from the european stock market point of view, i guess china has been responsible for a lot of the growth that we have seen in europe over the last quite a few years. responsible for something of the order of maybe 9% of listed european companie'' revenues. china, probably for another over 20%. this is clearly going to have quite a significant impact for the market as a whole. mark: what stage, then, do you look at the auto industry? they are down 20% from those highs. start stage do you thinking -- there is some value here, in miners, autos? juliet: in many of these sectors, we think that probably the corrections are overdone. those numbers i quoted earlier for the market has a whole, that is very much distorted by the commodity complex. if one looks at commodities, that figure for china is probably halved. as you say, it's luxury, autos -- mark: you think the correction is overdone in those sorts of stocks? what about in the headline benchmark? the injured correction territory, joining eight other western european forces that had fallen 10%. can you s

>> well, there is an european migration agenda. agenda migration that was discussed over a couple of months ago. we very much hope that there would be very robust implementation. the agenda brings more relocation from within the european union. this is done on a voluntary basis, and we require much bigger numbers. we hope that in the discussions that are going to take place in the next couple of place that, indeed, there is a much more robust way of implementing this migration agenda for the whole of europe. >> forgive me, you're talking like a diplomat, like a politician, a robust implementation, your hopes about this, your hopes about that, but there is a human being piano. what are your real feelings by the way these people have been let down? >> well, obviously we're on the ground. our teams are on the ground. we have all talked to refugees who are on the move. we're extremely concerned about their plight. we try as much as we can to provide support and assistance, we provide food, water and shelter, but you have the responsibi

the european commission is the with developing the policies for the european union. the united nations high commission on refugees has said that it needs to find 160,000 from the refugees syria crisis across the industrialized world. you can immediately see that the numbers are manageable if you think about 30 or 35 countries in that group. i think the critical point is one there are not the legal routes for refugees to find safety, then you empower the criminal gangs. the absence of a legal route has been a huge driver of the criminality we are seeing and the responsibility for addressing that within europe lies with the european union. upstream in the neighboring states of somalia, the neighboring states of syria, the neighboring states of afghanistan, it obviously falls to the united nations to be the coordinator rather than the european union. jane: turkey and jordan would probably argue that they and bearing the front of this for some time could what help should they be getting? david: you are absolutely right that it is poorer countries, the neighbors of those

action to share out the european burden across the 28 states of the european union which is more notedas well. >> ifill: should britain follow suit and do what germany has done? >> britain should certainly be a part of the distribution of the refugee burned. britain along with other european countries has an extraordinary and rich tradition of being open to people from around the world who are fleeing persecution. my own family benefited from that during the 20th century, and i think it's very important that, when one looks at the scenes in kalay, a discussion in britain and france over thousands of people camped there and going to extraordinary measures to -- >> ifill: trying to get through the tunnel, which we've reported often, yeah. >> exactly, right get through the tunnel in the context you have 300,000 people crossing the mediterranean, i want your view is to get a sense of the shoot horror confronting the 80 workers from the national rescue committee and elsewhere. we have just today helped seven people who have been swimming for seven hours because their boat sank in the medite

john with al jazeera, athens. >>> well, the refugees is not only a european problem.ia government says a deal to resettle cambodia is still on but there are reports from cambodia that the government has no plans to accept any more people. now the deal centers on the pacific island where australia built a detention camp for refugees in 2012. >> this is an important agreement and it's an agreement which indicates cambodia's readiness to be a good international citizen as everyone knows, when cambodia was in trouble some years ago they rallied to cambodia's help and cambodia and as a citizen can do its part is in much better shape than it was a couple decades ago. a spokesperson for cambodia's interior ministry has told a newspaper the country has no plans to take any more refugees to cambodia. australia's government denied that the is case and say the deal is still on. either way almost a year after it was signed just four refugees have been resettled from the holding camp to cambodia of a cost of $40 million u.s. dollars that australia government paid to cambodia to ta

i think the european countries need to -- like the european commission is doing. frees is also part of europe on the frees ask to lead on coordinating. it was a city emergency, it was a natural disaster. people would be properly accommodated and that's what we need to to, but frees indeed in this time of austerity, needs support. >> the u.n. is also pressing for urgent action, thousands of people have been attempting to cross into britain from france, through the channel tunnel. an estimated 3,000 migrants have set up camp close to the port. >> there have been arrests in italy over wednesday's boat disaster which is feared to have killed more than 200 people. >> but according to survivors the crew members are also believed to be the smugglers locked more than 200 migrants inside the boat's hull. if that's true, it would have prevented them from escaping after most of the migrants on the deck, rushes the one side. now the manned by crew members or smugglers who are from libya and algeria, will face charging of human trafficking and manslaughter, in the meantime, th

european stocks have come off the lows for the day. joining us to discuss is the chief em strategist at commerce bank. china central bank stepping up to the plate and injecteding more money. what does this mean for the investor at home trying to make sense of the chinese story? >> we're going to have this breaking news all the time in the next 2, 3, or 4 weeks until we see some sort of a stabilization and the market finding a new exchange rate versus the dollar or the euro. at the moment, the central bank is pumping liquidity into the market. on the other hand it's intervening to prevent a depreciation. you can't do both of those things forever. so one has to give and that will essentially mean that the cny will give some more room in the next several weeks. >> what does this mean for the consumer in china using these financial instruments? short-term liquidity operation? what does it mean for the consumer going forward? >> what we're seeing is the chinese authorities opening up the capital markets. so the most important part is for th

mark: and european equities?in the short-term, if if are going to raise rates, the rate hike is a sign that the fed is absolutely confident in the robustness of the u.s. economy, then in the medium-term it is good news. mark: to european equities continue to outperform u.s. equities? stephen: we think so. there is an earnings a story there. connectionsr the that people have over greece, people are starting to return, to see that earnings growth is wants to increase. mark: thanks for hanging around. as we head to the break, we check on equity markets, which opens lower. hangovercome, russia's in carlsberg, the brewer lowering its guidance. are you a carlsberg fan? tell me. i'm on twitter, @markbartontv. russia exposure concern you? it is concerning investors, shares down 7% in carlsberg today. what is your think of choice? ♪ mark: this is "on the move." let's get to some of bloomberg's top stories. glencore's profit tumbles 66% as the ongoing commodity route. they also announced a dividend of six cents a share and

european european made that decision probably for the right reasons. tremendous run. we are still a partner. we are a valued partner. we intend to continue to remain without sponsorship for the for seeable future. our viewers it is the second hour of "the pulse" with francine and myself. here is what we will be checking out. francine: two exclusive. the ukrainian finance minister. we'll be speaking to her in a half an hour. this follows yesterday's deal. we basically have a debt restructuring profiling. she had a 20% write-down on ukrainian bonds. she was asking for 40%. and we also have an exclusive about your payment systems. this is linked to apple pay. then greece. manus: greece. the gdp figures, the growth numbers will come in a minute. that sets th - -how up as we go towards that election date. tsipras be ready to be part of a grand coalition. stay with "the pulse." we have a lot to debate. ♪ mannus: volatility continues. european equities give off early gains despite a 5% surge in china overnight. focus on france and an exclusive interview with

there has to be much more pressure for a european solution.point from the beginning -- it shouldn't be a big government approach. we should try to find out, where did those people come from? do they have relatives in the eu? you should send them there. private people can do the integration work more than the government. you can count these people who internationalnto quotas. those who have no relatives or no point where to go, you can send them to other places. use the private willingness to help and integrate people. it's not the government's responsibility. peter: you've been observing closely the good germans and the bad germans at work in both cases. gwen has a point been reached possibly -- the berlin mayor talked about it -- a tipping point, when could there be a point when good germans become bad germans? erik: that is a good question, tough question. things we talked about is the unfairness in the eu. germany and sweden are taking in large numbers. eastern europe and britain are taking a next to none. that is a problem. it is a bit lik

there is a call for unified european response. thousands of refugees continue to pour into macedonia, serbia and hungary. the main border point with greece. >> reporter: in the heat of macedonia's border with greece, the pathway may be open again, confrontation and minor scuffles, but as the pace may have quickened, politicians are bogged down in arguments. the interior minister came to a make shift center to defend the decision to close the border last week. here, too, austria's foreign minister talks about what the european union was or wasn't doing about the situation. in the brief time they spent with refugees, this engineer wanted to get a word in. >> to solve this problem for syrian refugee, why make safe zone interior. >> he didn't have an answer to that question. macedonia's interior minister blamed greece saying it had no controls or security on its border. >> translator: our intention is not to close the border but to protect it. >> reporter: this was confrontation with refugees. surely it was a disaster. >> translator:

now is the european union really doing enough? i say no. >> so does the european union need to exercise that mandate and take that decision away and say okay, enough. this is what is going to happen. you have to dig another your domestic politics to some dreg and get on with it. >> you about it can't take it away. they're three parts of the european union. we have to do it together. we have to see sense and share. i think the deal done in calais is a sign of some progress, but we need to fight for progress because we can't let the migrants down. we can't see the suffering. and there is courttive solution in the european union. we can't look at other countries in the face if we don't take our share and do our bit in the european union for syria, libya and other countries. we need to do that and get on with it. >> thank you very much for joining us. thank you. >>> now thai police have released security video of the man they believe is responsible for the bombing at a bangkok shrine killing 22 and injured about 100 others. the countr

european stocks fell off.rging-market route and concerns about global growth and what the fed will do in time for the u.s. rate increase. manus: gold is rising. , with thoseities exposures to china, that is one critical issue. the dax. that is it for the pulse. keep it right here on bloomberg tv. -- yought here for the can follow both of us on twitter. the twitter question of the day is in you expect the fed interest rate? ♪ >> this is "bloomberg surveillance." texas approaches $39. commodity currencies signal export deflation. kazakhstand -- reacting to china. meg whitman is no carly fiorina. wait. that is a good thing. good morning. this is bloomberg surveillance. ndan "the markets are moving" greeley joins me. olivia: they dropped the caller altogether -- brendan: they dropped the collar altogether. tom: exactly. today, they devalue by one quarter. why? brendan: they just could not sustain it forever. are we moving to a complete

. >> i think the european union has a very big shock when the people drowned off of lampedusa, and theyloyed the navies tla has been a huge effort to rescue people and bring them to safety. so while we have reached a milestone in the number dead undoubtedly there's a big rescue mission taking place at the same time. >> the focus has shifted from what is happening at sea to what is happening in places like calais. explain what people arrive on shore. are they not being processed, housed registered? >> they arrive in what is calling the european union, but you might as well call it the ununited ununited union. the italians fingerprint those that are willing to be fingerprinted, and some say they turn a blind eye, because they don't want to deal with them their fellow european members seem to turn away while many of the migrants refugees what have you, get on the bus, get out of town as fast as possible and try to get over the border to where they probably have family or feel they have a better welcome. >> it sounds like you are saying given the divisions between european countries, these

it's not just the greek government, it is the european union. the european parliament, the ngos. where are the ngos. here there are only volunteers. >> when you look around you in this camp do you wonder if you made the right decision to leave syria? >> it's hard, it's very hard to leave our country, syria, great syria, but no, no, not a choice. it's the war. yes. and here we are safe. >> there is another camp, harder to find. it's run by the police, and we don't get inside, but we're told that the conditions are much worse. they refer to it as the detention center. that's what it was designed to be a detention center for illegal migrants who have been arriving in lesbos for years, hidden away in the hills like a dirty secret. >> what is happening now is quite different. an estimated 3,000 crossed the water from turkey in the last 24 hours. and there is no hiding them. not in the port or the public parks where they weight for ferries off the islands. not in the local cemetery where they lie in anonymous numbered graves. al jazeera, greece. >> let's go to washington, d.c. and brin

and the european perspective on this.he numbers are arguably different between the two sides of the ocean. european numbers of foreign fighters course the province empirically determining the numbers finding the right numbers, peter has done great work and trying to determine that but obviously it's extremely confiscated effort with law enforcement and intelligence agencies having a problem doing that but the number of european foreign fighters are much higher than the number of american foreign fighters. the size of the problem is completely different. if we are looking at a european european -- we see countries like france with an estimated 1200 individuals, germany the u.k. and the six and seven hundreds in smaller countries like elgin with a staggering 400 individuals. some eastern european countries like kosovo which is a tiny country three or 400 individuals , these are completely different numbers from the u.s.. the latest numbers given by the government by the fbi we are talking about 200 individuals either travel

but it's clear that on european territory you have the responsibility of european states. first and foremost. as you know, we work in the worst crisis situations around the world. we hardly have the funding even to work in the neighboring countries around syria or south sudan. it's clear that europe needs to assume that responsibility in its fullest, including the solidarity measures that these people require. >> that is voelker turk, speaking to me a few moments ago. >>> stay with us if you can, lucrative property development in crimea. >>> and i.s.i.l. ruins another heritage site. e. >> "inside story" takes you beyond the headlines, beyond the quick cuts, beyond the sound bites. we're giving you a deeper dive into the stories that are making our world what it is. >> ray suarez hosts "inside story". only on al jazeera america. >> these are the global headlines. in a stunning diplomatic move, talks between north and south korea appear to have ended in agreement. says pyongyang expresses regret for recent happenings. and north and south korea say they will push for reunion

live from bloomberg's european headquarters i'm francine lacqua.anus: european markets are ripped up. the are checking the biggest gain in u.s. equities in four years. francine: yes they are. that rally came after a selloff. overnight, china's benchmark index posted a 5% index -- 5% gain. let's get context. mark barton is back in the house. things are wrapping higher. the fed's magic discussion did the job. fedo the -- mark: u.s. caused the big rally in the united states. he spoke yesterday. in an unexpected comment, you have to say, he said from my perspective the decision to begin the normalization process seems less compelling. the keywords sit is desperate keywords -- less compelling. getting close. is the six days that preceded this rally. yesterday, prior to the s&p 500 fell by 11%. it's sunk by 11% yesterday. it rose by 3.9%, biggest 2011ase since november 30, , all because of his comments. trade -- reducing the probability the fed will raise rates to 24%. 18th, the odds were 28%. we are going to have technical fun here. look at the emerging

very comprehensive whereby iran was relying on european technology. small,mes produced by family-owned, not publicly of theenterprises, the high-end technology produced in germany and italy and austria was not coming from publicly , fortune 500 companies. it was produced by small companies that have 30 or 50 employees on five family of four and little else. companies sell 80 to 90% of products into local markets, the european markets, or to asia. withcompanies never trade the united states, never conduct any kind of thinking transactions with the united states, do not have u.s. persons on their board. shareholders from the united in areare not interested not that concerned, the moment aboutanctions are lifted, what the united states may or may not do. provided they have the backing of their governments. this is part of the argument the administration is making, to say, look at where the world is going. without a deal, the sanctions would collapse. i would like to spend a couple of minutes addressing the argument. the fact of the matter is, sanctions w

in contrast to west european rivals, new u.s. didn't have the revenue to actually police international trade. moreover, out of necessity and design, the emerging customs regime, such as it was, was extraordinary deferential and run by local mercantile interests. the same interest deeply invested in a trading with the island. merchants even convicted the government to issue licenses. and these licenses in turn become prerequisite to obtaining marine insurance in this quite dangerous trade. finally and easily overlooked is just the basic fact that arms exporters enjoyed the physical production of being based in the u.s. for the agreed french to attack gun merchants in their place of business, which is the only place you know for sure you can find them, was obviously unthinkable because this would immediately embroiled in in a war with the u.s. the national government could apologetically claim its powerlessness over this extensive arms trade, even though its own policies encouraged and protected it. all of this helps accelerate the

european markets bouncing back in early trade. state side the dow is open higher by triple digits after yesterday's historic swings. >> the picture remains bleak in china. the shanghai composite shedding more than 7% but some signs of divergence holding on to gains. >> china will be a bigger factor going forward as the latest data doesn't reflect the recent moves. >> riding the volatility. profits hit a 10 year low on the china lead commodity route. shares trading higher amid a rebound in the basic resources sector. >> hello, everybody. welcome back. hey seema. >> hey, lou. >> european markets buying back up again this morning. that's what we're seeing. name of the game. all of our indices are trading positive territory higher by 2.5 to 3%. xetra dax having corrected by more than 20% since the last recent closing high back in april of this year. so we're gaining a little bit back and a survey helping to put more in the xetra dax this morning. all the sub indices beating forecast with current conditions and expectations pointing to

delia selloff underweight at the european benchmarks. -- clearly the selloff at european benchmarks. as we are seeing and selloffs in energy. matt: let's take a look at oil speaking of energy stocks. we saw a drop today, down more than 1%. $42.16 a barrel. crude is falling below 49 dollars a barrel, so the drop in oil we saw yesterday is scolding on the question is, how low can ago? tops also check the headlines this morning. starting with back to the future day for investors. they will study with the fed discussed last month for clues about what they might do next month. the central bank is due to release minutes of its july meeting and investors or look will -- will look for views on interest rates and earlier we heard from chief economist at j.p. morgan securities who think the dollar can be pivotal in the decision. >> the dollar, in terms of financial moves, much more than oil prices is the fed. the dollar has been hurting the u.s. manufacturing sector, supporting disinflation and it is a reflection of weakness in economies abroad. if the fed is going to stop from an internationa

parliament or some european parliaments. but you knoef, tw, the belief i market is it's pretty much a done deal and we're looking at other things right now. you know, the italian government bond market, which was a little weaker this morning has bounced back a bit, but you know, spreads versus bunds have remained pretty much flat for the past month or so. and you know, this is very much our line of thinking, you know, that we are expecting more sort of flatness rather than some sort of compression between periphery and bunds for the time being. >> anthony, let's digress and talk a little bit more about bonds in europe more generally. your recent note said that there's a long way still to go until we get back to normality, and you should still be long duration, despite the historical standards very low yields. is that right, you still want to be long duration? >> well, for the short term, we're tactically long would be the best way of describing, because you know, general excess returns have been positive in august. we had a

it represents $12 billion in revenue across 13 european countries. listed ony will be exchanges in new york, amsterdam, and madrid. consolidation is part of an effort by the u.s. soda giant to cut costs amid slowing sales. fitch has given racquets its first it's outlook. iraq is planning a $5 billion bond issue toward the end of the year. today marks the one-year anniversary since russia banned food from the united states and the european union. a full and bargo on food from these countries, plus -- a full embargo on food from these countries, plus others. before the ban, russia was the eu's second-largest market of food. our correspondent looks at the last 12 months. cheese, german pork, and italian dessert. it has been here since french products disappeared from russian shells. eu -- this week exportssaid it cut its in half to 900 million. food prices dropped across europe as the market was flooded. french farmers are tested. in russia, increased domestic production has picked up some of the slack. according to official statistics, meat production

i asked for european parliament to play an active role in the greek problem.he transparency and open democratic discussion and democratic accountability so. >> again, that was the greek prime minister live in athens. they are resigning and calling for new elections and the fact is he doesn't have a governing coalition in the parliament anymore after reaching a new bailout deal, that new deal as you know calls for more difficult austerity measures and remember he was elected to end austerity and you heard him say the latest bailout deal was essentially the best that was available with the troika being and the eu european commission and the imf. let's take a break and we will come back with more news after this. >> i think we're into something that's bigge south korea on high alert after an exchange of heavy artillery fire with the north and officials in seoul say north korean forces fired at a south korean border town and this was the first hostile exchange in five years and harry faucet has more from seoul. >> reporter: exchange of fire began 4:00 in the morni

as the european and u.s. markets plunged, investors looked east to china to stem the route triggered by the central bank's evaluation of its currency on august 11. >> i am convinced that china will do everything possible to stabilize the economic situation. china is an important partner of the european union. mohamed el-erian joined calls for the intervention from china's central bank to support the market. .> we need that external anchor otherwise, prices will have to go down a lot more to bring in buyers with conviction. fedrtunately, it is not the or easy bp this one is different. the source of this dislocation is from the emerging world. what you need is something that stabilizes the emerging market over there. that means china. anna: so have the chinese been listening? the people's bank of china has auctioned yuan in seven-day reverse repurchase agreements according to a statement on its website. this is after recent currency market interventions to prop up the yuan has strained the financial system. let

the challenge has become increasingly urgent for the european union. a dramatic increase in the number of people heading to europe. greece alone has seen a 750% increase. most of them are not planning on staying there. many are trying to get to more prosperous countries like germany and other european countries where there are no border controls. they follow what is known as the western balkans route. our correspondent joined a group of refugees that are trying to make that journey. >> they crossed the border on foot, carrying what little they have left in backpacks. more than 2000 people arrive each day. it is already overflowing in the early hours of the day. everyone here wants to travel further north as soon as possible. but it is not easy to come by. mohammed has been waiting for a day now. he is an english teacher. now he's stranded. >> this is a problem, but there are many people and for many nations, this is a big problem. >> the small town is completely overstretched. the only facility is by the rails which is where the refugees sleep. there's

europeans and native americans and nations and africans both free and slave. within a few decades the place, the gulf coast from new orleans to pensacola would become part of the united states but that is not a feature anyone who lived there during the american revolution imagined. the complicated story has a lot going on. one of the things i decided to do was follow a different people through the whole book from the beginning of the war to what happened to them after the war. let me introduce you to a few of them. one of them was a man named him on restart who was an acadian. his family lived in french canada around the time of the seven years for they were expelled by the british in the british took over their homeland of acadia and renamed nova scotia. ahmad and his family were expelled from acadia common acadian refugees and his family was lucky enough to get to louisiana and get protection from the french who were on their way out because the spanish took over new orleans at the end of the war but the spanish also provided or starts family with land and a

there were european arrests for three people and those european warrants are the basis for and that inseveral people have been arrested. the arrested people will and depends if they were sent to austria, depends on the hungarian police and how far the hungry is involved with that as well. we don't know when those people will be in there. it is important for me to say because it's not -- i want to thank the police, to thank the police and for all of what they have done, incredible work. and it's not necessarily normal there were such results. dear ladies and gentlemen, yesterday was for all of us. a day of emotion, of grief. yesterday had shown through this tragedy that those traffickers are criminals and not people who help to flee. and this day it not only makes us sad but it should be also show us that we have to find european solution for that. the next point, first of all, it's important from the crisis and war regions that the people can come to europe. secondly, it is important to find the basis, the causes of those wars in the regions and that they can come back to their region.