financial markets that's the real problem not so much the pure payment system mysql of ashbrook let's me let me bring you and now the financials that of markets in arrangements that mr cross is talking about wouldn't that be even more difficult to establish than an alternative payment system to swift i mean what do you make of these alternatives that are being proposed to counteract u.s. sanctions. i think a critical component here is timing you can have many thoughts and sketch out many plans on your sketchbook whether it's in brussels or in any of the national capitals the problem here the main problem both on the defense side which my colleague tolson bennett mentioned implicitly in terms of putting up a robust defense if you will a robust response to american actions in the world that is going to be as difficult to do quickly as it is to build essentially a new financial transaction system or a financial transaction system that would undercut the predominance of the dollar in the financial markets and to figure out how long that would take i think we're talking clearly about decad

but i very much doubt it will be done miss clode ashbrook what do you make of that these countries despite you know what we hear from specially from mrs merkel and mr mccann are they actually lacking the political will the public support to create a new world order. i would disagree with my colleague daniel gross a little bit we have seen over the summer some very market debates particularly in the public on things like defense spending and the future of german defense policy there's been a very nuanced debate on whether germany might have to consider getting a nuclear weapon now that's the united states is retreating from the security architecture in europe now that came out to on the side of a clearly of no but what we're seeing in a lot of the. a lot of the questions that have been put to the german public that the german public is actually ahead of its political class they see that it could be important to invest more in german and in european defense spending they're very aware now after a prolonged debate within the german press and within the german media of of the need for an integ

mysql of ashbrook let me come to you so with all those differences you know now out in the open have donald trump's isolationist policies i think mr mack can call them aggressive isolationism finally taken their toll on european leaders and now leading to policymaking. well i wouldn't say taking their toll we see this i see this is a continuation of outside forces really pushing the european union pushing individual member states to rethink their priorities we have a situation where the last piece falls into place of speeches that were made along the lines of the european union really having to focus its energies on defense policies on critical policies that underpin the european value system not least the points that you've already mentioned around the paris climate accord and the validity of international institutions like the w.t. oh so you mention president my call he gave a speech number of months ago that was immediately where he stressed the importance of european defense independence and that was immediately followed and buffeted by the german chancellor so in some respects t

financial markets that's the real problem not so much the pure payment system mysql of ashbrook let's me let me bring you and now the financials that of markets in arrangements that mr grass is talking about wouldn't that be even more difficult to establish than an alternative payment system to swift i mean what do you make of these alternatives that are being proposed to counteract u.s. sanctions. i think a critical component here is timing you can have many thoughts and sketch out many plans on your sketchbook whether it's in brussels or in any of the national capitals the problem here the main problem both on the defense side which my colleague tolson bennett mentioned implicitly in terms of putting up a robust defense if you will a robust response to american actions in the world that is going to be as difficult to do quickly as it is to build essentially a new financial transaction system or a financial transaction system that would undercut the predominance of the dollar in the financial markets and to figure out how long that would take i think we're talking clearly about decad

financial markets that's the real problem not so much the pure payment system mysql of ashbrook let's me let me bring you and now the financials that of markets in arrangements that mr cross is talking about wouldn't that be even more difficult to establish than an alternative payment system to swift i mean what do you make of these alternatives that are being proposed to counteract u.s. sanctions. i think a critical component here is timing you can have many thoughts and sketch out many plans on your sketchbook whether it's in brussels or in any of the national capitals the problem here the main problem both on the defense side which my colleague tolson bennett mentioned implicitly in terms of putting up a robust defense if you will a robust response to american actions in the world that is going to be as difficult to do quickly as it is to build essentially a new financial transaction system or a financial transaction system that would undercut the predominance of the dollar in the financial markets and to figure out how long that would take i think we're talking clearly about decad