as an export nation, germany is very dependent from other economies, especially the u.s. economy, which showed weakness today. jobless claims were rising and the leading indicators showed the u.s. economy has got a bumpy road ahead to recovery. it has not been only the u.s. economy that investors were worrying about. france caused worries because there are rumors that france could lose its aaa rating. france is not only a very important eu member state, but also the most important trading partner of germany. >> all the gloom for european shares closed in-territories. the blue-chip index closed down by almost 2% 6075. the eurozone up 50 pretty much down 2%. in new york, investors were stunned by the jobless claims data, down by almost 01 0.5%. the euro is also losing ground against the u.s. dollar, currently at $1.2819. german authorities have filed against noa bank. the institution is no longer allowed to sell financial products. it was offering ethical and environmentally correct investments and giving clients a say on whether money was used. it had attracted 50,000 cust

sharply to the drought and spiralling grain prices the world bank is urging nations not to follow russia's lead with an export ban saying there is unlikely to be a global rerun of the two thousand and eight food crisis seen in the more. global green markets fact routine drought and fires in russia. prices as high as eight dollars sixty the. move to implement a green expert on the move to protect domestic consumers first is one that the world bank other nations not to. do new. crisis despite this economy see the run of the food prices gear which as high as thirteen dollars in two thousand and eight is unlikely it was demand supply factors now in two thousand and seven two thousand and eight across all the range of commodities stocks were very low and we also had very different global demand conditions the global economy largely because of emerging markets were incredibly buoyant so we had very low supply very strong demand and that gave you that combination of rising commodity prices across the whole range of food stuffs this time around supply is much better and obviously given the financial crisis globally d

could rise sharply due to the drought spiralling grain prices the world bank is nations not to follow russia's lead with an export ban saying there is unlikely to be a global rerun of the two thousand and eight crisis seen argument that it has more . global green markets factory being drowned in fires in russia with heavy rains in europe to push we price is as high as eight dollars sixty the bushel as what you mean putin moved to implement a green expert van the move to protect domestic consumers first is one that the world bank is urging other nations not to follow if you see it could you when you will food crises despite these economists say that the run of the food prices gear which pushed wheat as high as thirteen dollars in february two thousand and eight isn't like it was demand and supply factors different now in two thousand and seven two thousand and eight across all the range of commodities stocks were very low and we also had very different global demand conditions the global economy largely because of emerging markets were incredibly buoyant so we had very low supply very strong jamal and and that gav

created severe problems for the nation's farmers with more than twenty percent of the wheat harvest wiped out on thursday probably institute an imposed a ban on growing exports to ensure there wouldn't be a shortage and that food prices won't start to rise now although the situation is grim the underlying health of the russian economy is not being damaged as our correspondent. explains. moscow east coverage would have the smoke and it really looks like the end of the world behind my back is the white house but it is completely out of sight now but once the fine is and the smoke has lifted the russia will still be intact and does according to you just love you so avoid chief economist for you doing your bank who says that the damage to russia's economy should be insignificant. with regard to industrial production hookups. growth performance in the summer period after that i think things will stabilize we have heard already about. pauses in the operation of some of the plants including in the auto sector because of high temperatures may be compensated by. still significant. household consumption apart from terrible human costs locally there will be an economic

nation. whistleblower wiki leaks is back in the headlines after publishing an internal cia report on the internet the documents classified as secret focuses on the perception of the united states as an exporter of terrorism meanwhile the website found there will be questioned by the swedish authorities of allegations of molestation or edit as more. there's been much less of a media florrie surrounding this than there was the beginning of the month when the war diaries were released and i think people school reasons for that one because. it was seventy five thousand separate documents that came from inside the u.s. military and such a huge volume of information always creates an impression whereas to compare it with this this is just three pages although having said that it is a secret document from inside the cia. that came exclusively from the u.s. military. thing is the afghan war concrete evidence each of those documents was called the evidence of events to take place the civilian casualties of reporting on those casualties where is this is an internal cia document describes a hypothetical situation. what would happen if the international community perceived the u.s. as an export of terro

vargo is the international economics affairs vice-president of the national association of manufacturers. increasing exports. it is an initiative that the president laid out, dublin exports in the next five years. how is he doing -- a doubling of exports in the next five years. how is he doing? guest: he is doing ok. it is important that the president actually said a goal. in order to do so, we have to do a lot. the general public need to get stronger export-orientation. for some many decades, the u.s. has not been that strong and exporter. historically, we were fortunate to grow up as a continental the economy. our companies began to sell across the united states. so many of them did not feel like they had to sell across the world. you take a german, japanese companies, and they have always done their domestic market was too small and they had to export. so we need to do domestic exports. the national association of manufacturers, representing about 90% of manufacturing, went out and asked their members, what would it take to double your export? when we came up with was a program with a lot of different steps, fixin

an opportunity to take advantage of. now, as the president leads our nation more toward exports, it's critical, it's critical that we strengthen the technical capabilities of minority-owned firms across all industries so that these firms can be stronger contributors to the u.s. economy. the minority business community accounts for $1 trillion of economic output within the u.s. economy, creating thousands of jobs for all americans. what we need to do is take advantage of this underutilized asset, by strengthening their capabilities, particularly in the construction sector so they can create more jobs for all americans. our research shows that minority-owned and operated firms are twice as likely to export than nonminority-owned firms. so this program is central to the expansion of job creation in the united states. and so with that i'd like to take a moment and allow you before we start the q&a session to hear from our private sector partners. first i'd like for you to welcome mr. dick rizzo, executive vice president for the corporation. [applause] >> good morning, everyone. on behalf of all of us at the corporation, i'd like t

is the international economics affairs vice-president of the national association of manufacturers. increasing exports. it is antiative that the president laid out, dublin exports in the next five years. how is he doing -- a doubling of exports in the next five years. how is he doing? guest: he is doing ok. it is important that the president actually said a goal. in order to do so, we have to do a lot. the general public need to get stronger export-orientation. for some many decades, the u.s. has not been that strong and exporter. historically, we were fortunate to grow up as a continental the economy. our companies began to sell across the united states. so many of them did not feel like they had to sell across the world. you take a german, japanese companies, and they have always done their domestic market was too small and they had to export. so we need to do domestic exports. the national association of manufacturers, representing about 90% of manufacturing, went out and asked their members, what would it take to double your export? when we came up with was a program with a lot of different steps, fixing th

national level. reconstruction will be difficult going forward. the fact that pakistan has lost a good share of its export crops, much of its food -- an enormous impact on poverty issues. the sheer damage to infrastructure. several hundred bridges have been washed away. water canals have been damaged or deliberately broken to manage the water. all these issues face pakistan. we are very concerned that it will not have a long run impact on governance and stability. the way in which the u.s. has reacted in some ways goes to the importance of the strategy it put into place. namely, the u.s. was able to react quickly because of the inter-agency team said had put together, especially in the office of the special representative of afghanistan and pakistan. it has made for much more rapid turnaround. this has been coupled together to address refugee efforts from last year. that allowed rapid collaboration, to get helicopters, aircraft to pakistan for immediate relief. also, we were very cognizant to convince pakistan and pakistanis that there is a strategic partnership. it would best be exemplified by the way in which the u.s. was first and most effective a