may well start to find that loosening on the fiscal stance in germany providing a looser back drop as a whole. as you say, france is not ingts budget overall. it will be a looser fiscal stance which will alleviate pressure on the ecb in terms of cutting rates aggressively. >> i guess we will see. that was jeremy stretch. do not miss our decision time at 1:00 p.m. london time live on cnbc and sngs cnbc internationa youtube page. >>> and a final look at how we are moving in the equity markets. we have have green across the b. we are looking at significant moves in italy. ftse mib up .50%. the cac 40 is below the flat line. in switzerland, we saw the announcement from the ecb of the 50-basis point cut. easing a little bit from the gains. nonetheless, the market is up .3%. u.s. futures suggest it could be a lower start to the trading day over there. i guess we'll find out in a couple hours time. that is it for today's show. i'm silvia amaro. "worldwide exchange" is coming up next. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call cove

carsten brzeski is chief economist at ing germany in frankfurt. good morning to you.of no—confidence and we're looking at elections early next year? looking at elections early next ear? ., . , looking at elections early next ear? ., ., , , year? you are right. this is auoin year? you are right. this is going to — year? you are right. this is going to happen. _ year? you are right. this is going to happen, the - year? you are right. this is going to happen, the six i year? you are right. this is i going to happen, the six time he appears that we had this vote of no—confidence. he has to go to the federal and up to the federal president theoretically to announce new election but this is what's going to happen so we will have lectured on the 23rd of february. lectured on the 23rd of february-— lectured on the 23rd of february. lectured on the 23rd of februa . �* , . ., february. and since the fall out with the _ february. and since the fall out with the finance - february. and since the fall. out with the finance minister which caused the collapse of the coalition govern