speculation on christine lagarde's future.tual policy announcements and market reaction? what are you expecting today? given that we have had a fairly big move and policy withmonth which coincided a start economic forecast, we can probably see a steady as she goes policy. from christine lagarde, i think we will get nothing substantive until we get the updated forecast in december. even then, the market is not expecting too much until next year i think christine lagarde will need some time. and given that we just had a fairly substantial moves and policy, we are in for a pretty quiet few meetings. anna: thanks very much, richard. no doubt, not a dry eye in the house today. richard jones, our mliv fx and rate strategist. matt miller in frankfurt will be keeping his cool. matt: yeah, absolutely. it's always fun to get in there. he's got a great sense of humor so i'm looking forward to it. i'm going to head to the radio booth at our frankfurt bureau. up next, you have "surveillance." you can head to london dab to check out more fr

chief christine lagarde later this year is famous 2012 statement whatever it takes to preserve the euro at the height of the currency zones financial crisis will go down in history fall is the drug. behind the divided governing council last month of its members opposed his move to restart quantitative easing that's printing money to buy bonds from governments and companies as a way of stabilizing the euro zone in his final press conference that ended just minutes ago he was asked by a reporter what kind of advice he has for his successor christine lagarde here's what he had to say no advice is the she knows perfectly well what she has to do and by the way she has a long period of time ahead you know we should have 2 floor pair on view to get that we can go in council about what to do but the stop here really. so let's bring in chelsea delaney a financial correspondent in a frank 1st who is listening to this full statement he leaves an empty us know that for his successor christine lagarde kemi expected change of direction from. christine lagarde and all of her public statements so far h

and defeat the end of an era as mario draghi hence the helm of the european central bank to christine lagarde is hailed as the savior of the euro by some but many are saying is he's leaving behind a weak currency they're born survive the next crisis this is business africa on the health as well. south africa's government is forking out the equivalent of another $4000000000.00 u.s. dollars to save the country's oldest and largest power company it's come from financial disaster funds are intended to help pay off its enormous debt burden currently valued it well over $30000000000.00 some so large that goldman sachs now describes the state own entity as the single biggest risk to the country's economy so what's gone wrong it's a show on a lot outdated infrastructure corruption and mismanagement as well as rising costs left the company unable to meet soaring demand an over reliance on coal is another problem the result has been an ever increasing number of large scale blackouts straining the economy further angering south africans the most recent of them just happened last week up in the pressure

was a look back at as ecbraghi's tenure president and a little sneak peek at his successor, christine lagardeside over his final policy decision on thursday before handing the reins to lagarde on november 1. the new book that looks at the european central bank president's tenure and the expectations he will have to confront when he returns to his homeland is out. we've got a picture of it right here. the man whoory of saved the euro." we are glad to be joined by the author. and a euro area importer -- reporter. what do you think his biggest achievements were? >> showed that when he said his famous "whatever it takes" sentence. it is not just because of the three words, it is because after that, he not just -- he seemed to reverse the course of the crisis and also because it showed how power central banks could be and how they could fill the gap left by politicians were unable to find a decisive solution to the crisis. was: do you think he successful? alessandro: in the short term, for sure. , the people that would have bet the euro would still be here seven years after that. seven years after

christine lagarde and all of her public statements so far has sort of mirrored druggies policy she said this sort of highly accommodative policy is warranted if you look at the european economy at the same time there are sort of these of these bigger questions of what 'd does christine legarde have at her disposal now you know mario draghi has really taken monetary policy to the edge of what's possible and there are definite questions about that there are a lot of discussions about things like raising the limit of bonds that. the e.c.b. could by cutting rates even lower but even in the press conference today and he was sort of discussing how there's a diminishing return as you get lower and lower and policy here she is also going to focus much like druggy has on the capacity for fiscal easing or for fiscal policy and countries like germany we've heard her speak about that many times. over there in fund food in the far from national circle circles what's the overall verdict about the drug used to. good b.c.b. books it's certainly a mixed mixed assessment here as you sort of mentioned he'

the end of an era mario draghi hands the helm of the european central bank to christine lagarde he is held as the savior of the euro by some but many are saying he's leaving behind a weak currency that won't survive the next crisis. our way or not our way germany is governmental regulators under fire for green lighting the chinese company's products for the country's 5 g. infrastructure. stuck in the middle serbia vows to boost economic ties with russia while it also strives to become part of the e.u. . this is business. as in the berlin wall come and we start in europe after 8 years at the helm of the e.c.b. mario druggy is final policy meeting is famous 2012 statement whatever it takes to preserve the euro at the height of the financial crisis will go down in history successes leaves behind a divided governing council last month a 3rd of its members oppose his move to restart quantity of easy printing money to buy bonds from governments and companies as a way of stabilizing the euro zone. his final press conference that ended just minutes ago he was asked by a reporter what kind of

what christine lagarde will have to come in and help resolve. we imagine that today, he will maybe offer up a few words before she arrives as to how the governing council may come back together over governing policy here >> jeff, let's talk about christine lagarde. what will be first and foremost on the agenda as she starts to make that transition away. >> the analysts largely think that mario draghi has given her some air cover by introducing these new tools that he can allow christine lagarde to come in and bed herself down and get comfortable with the way the ecb operates before she comes out to be public about a change of strategy one of the things she will go, let's be frank mario draghi is a technocrat, not a politician lagarde will be seen as getting all around the table and being one voice. the last thing you need is this division to undermine current monetary policy. questions are being asked about the ecb's commitment given that you have a number of northern european bankers christine lagarde will come in and try and calm some is of th

we will look back at his legacy and preview christine lagarde.7:19 in london, 40 minutes from the cash equity market open. this is "bloomberg daybreak: europe." i am nejra cehic. let's get the bloomberg business flash. >> surprise profits exceeding the most optimistic estimates by a wide margin, the electric carmaker had a consensus estimate for a loss. elon musk said his plans in china have started reduction and the crossover will launch earlier than planned. boostoft earnings saw a for demand from its cloud computing program. profit in the first quarter rose to $10.7 billion with software also helping results come in above analyst forecasts. revenue from cloud services rose 59%, slower than the gain in the previous quarter. bookedbillion hit, losses across key projects including a touted technology upgrade. that contributed to an operating loss. the biggest lender in the nordic region is pushing through a wholesale overhaul and flashing its dividend policy. that is your bloomberg business flash. nejra: mario draghi leads his last council meetin

the september move of ecb was all about creating some time of --l for christine lagarde for christineagarde. then she needs to win over those who have been opposing ecb policy of late which is an argument where she can bring in all of her experience as a previous policymaker and a french finance minister to win over people and build compromise. and to win over the public, which is quite difficult. i think christine lagarde is exactly the right person at this point in time to continue mario draghi's work and to build on this legacy. francine: what are you expecting from christine lagarde? we had a 30 minute conversation weeks ago. it's clear she also sees himself as a politician. what would you do differently? is it really trying to persuade politicians that they need to do more on fiscal spending? martin: it's both, but predominantly in the latter. policy as of monetary it's coming to the ecb having used most of its ammunition at the disposal is the need for using some of the fiscal space that exists. it will be the task of the ecb in ansuade policymakers intelligent combination with

he will hand the reins to his successor christine lagarde november 1.ook back at his eventful eight-year tenure, full of a conference and controversies. -- accomplishments and controversies. >> the ecb is ready to do whatever it takes to preserve the euro. believe me, it will be enough. >> with these words, president mario draghi is credited by many with saving the euro with these words but he had proved willing to take decisive action. two meetings, he undid the rate hike enacted by his predecessor and later took the key deposit rate to an unprecedented 0% to battle the greek, then european debt crisis and that was just the beginning. >> truly historic. the deposit rate has gone negative. that is stored for any major central bank. >> for all practical purposes, have reached the lower bound. >> as the european economy continued to deteriorate and bond yields surged, the ecb introduced quantitative easing. in early not everyone supported 2015. it and opposition to the ecb was growing. >> [indiscernible] >> despite signs of recovery in growth and jobs, it

christine lagarde would have to live with the legacy of draghi behind her and developing new tools.et me cut to the chase, i think she needs to develop the instruments. i think the ecb should issue its own bond to help convert part of the debt of member states. instead of buying italian debt to issue its own bond that would be serviced by italy to cover the massive compliant part of the italian debt it is a radical new instrument imagine that could be a new safe asset. at the same time, this should be a massive program. she should push the council in the direction of giving the green light to issue a ward of bonds to provide the markets and the italian debt, german debt and dutch debt and so on >> coming back to the reform that the country would have to go through it still seems to me while we can throw a lot of money at it, when do you think or do you think christine lagarde is able to drive each european country so that in eight year's time you all kind of look the same. have the same taxation policies and fiscal policies of the welfare policies which we see at the moment >> that

head christine lagarde takes over from the party she crediting him with rescuing the single currency from disaster is to a chip is now coming to an end and you leave with the euro more popular than ever and trust in the e.u. at its highest level since the crisis druggy in term offered words of support to his successor. of the time and discount for me to hand over to christine lagarde and of course her said that many times her repeated now i have every confidence that you would be a superb leader. and so it was time to ring in a new era with the changing of the guard to look guard. she takes the reins of the european central bank on november 1st. space tourism is about to go public starting monday investors can trade shares of virgin galactic on the new york stock exchange for the 1st time since its founding in 2004 virgin galactic has raised more than a $1000000000.00 to develop a commercial service to take tourists into space the company which is the brainchild of british entrepreneur richard branson plans to offer weightless flights to 6 passengers at a time tickets for the 1st cus

christine lagarde. >> dickerson: at the european central bank, lagarde faces weak growth spurred by amanufacturing, raising fears of a european recession. what's worse, lagarde's main tool to stimulate the economy, lowering interest rates, may be useless. that's because, in europe, rates are already negative-- which was once unthinkable. >> lagarde: there's a limit to what central bankers can do. there's a limit to how far and how deep you go into negative territory. >> dickerson: so there's a bottom? >> lagarde: there's a bottom to everything, but we're not at that bottom at this point in time. >> dickerson: president trump likes the idea of low, even negative, interest rates. so much that he's spiked the decades long tradition of presidents not interfering with the federal reserve, even calling the chairman jerome powell and his colleagues "boneheads" for not cutting rates more. lagarde's advice for the president? be cautious. >> lagarde: when the unemployment rate is at 3.7%, you don't want to accelerate that too much by lowering interest rates. because the risk you take is that th

christine lagarde is an excellent negotiator. come up with things we haven't thought of before, but fiscal policy may be slow moving here. nejra: looking to mario draghi's last meeting, what can we expect? not much more action, but what should we be looking out for? he laid the groundwork for christine lagarde and she has said she will support his policies, so he will probably communicate similar environment, growth environment is still weak and they will do whatever they can but we don't expect any rate changes or anything they had already planned to restart asset purchases already. the message will be similar to last time. nejra: what is your outlook for the prospect of qe in terms of that aspect of the stimulus the ecb looks at from here? what we will be hoping for this week is more detail around how they plan to put that package to get. we know the overall about the amount but not the composition. it is possible later in the year, we might see that headline increased because we haven't yet seen a big improvement in the growth

the end of an era as mario draghi hen's the helm of the european central bank christine lagarde hailed as the savior of the euro. but many are saying he is leaving behind a weak currency that won't survive the next crisis. way on our way germany's governmental regulators under fire for green lighting the chinese company's products for the country's 5 g. infrastructure. in the middle of serbia vows to boost economic ties with russia while it also strives to become part of the e.u. . this is business. as in the berlin wall come and we start in europe after 8 years at the helm of the e.c.b. maria druggy is final policy meeting is famous 2012 statement whatever it takes to preserve the euro at the height of the financial crisis will go down in history as successes leaves behind a divided governing council last month a 3rd of its members oppose his move to restart quantitative easing printing money to buy bonds from governments and companies as a way of stabilizing the euro zone. in his final press conference that ended just minutes ago he was asked by a reporter what kind of advice he has

the end of an era as mario draghi hands the helm of the european central bank to christine lagarde he is held as the savior of the euro by some but many are saying he's leaving behind a weak currency that won't survive the next crisis. our way or not to our way germany's governmental regulator is under fire for green lighting the chinese company's products for the country's 5 g. infrastructure. stuck in the middle served to become citizens. migrants your platform for reliable information. the end of an era as mario draghi hands the helm of the european central bank to christine lagarde is held as the savior of the euro buys some many saying he's leaving behind a weak currency that won't survive the next crisis. our way or not to our way germany's governmental regulator is under fire for green lighting the chinese company's products for the country's 5 g. infrastructure. stuck in the middle serbia vows to boost economic ties with russia while it also strives to become part of the e.u. . this is business. as in the berlin wall come and we start in europe after 8 years at the helm of the

moving on to the telegraph and we will talk about spending when we talk about christine lagarde.utjohn bercow, the speaker of the house, retires today. he said, "i'm going on the 31st of october". a lot has happened since he said that, and today he didn't have... let's try and be objective. in the nine years he has been there, i think he's been an eccentric, unorthodox and very effective speaker. he amuses me and he makes me smile. i don't mind his pomposity because i think it goes with the territory but where he has let his in south down, and i don't care, but he is clearly a remainer and that's come across in the house of commons and frankly it shouldn't have —— let himself down. frankly if that's his epitaph, it's a bit unfair, because for nine years to do thatjob unfair, because for nine years to do that job with unfair, because for nine years to do thatjob with gusto, enthusiasm and all that kind of thing... thatjob with gusto, enthusiasm and all that kind of thing. .. it's an extremely difficultjob. all that kind of thing. .. it's an extremely difficult job. impossible! and

to begin with i mean going back to christine lagarde i mean they really don't have an understanding or who have even how the business model works so i really put very little into what they say and if you want to tell you that china's numbers china's numbers i've never been we can never prove it to shine numbers are accurate either so between the 2 of them i really don't even pay virtually no attention nor do markets as you can see that the mom. record high so they're not listening to what they have has that either because again i lend them no credibility as far as i understand the actual structure and how these markets are working so now it should be obvious to any country that's already been developed that they cannot possibly sustain double digit growth so china in particular has had double digit growth for the past decade and now everybody expects china to come to still continue down that same path but that's not simply unrealistic so it seems quite normal and natural that china's growth has slowed down and declined to this 6 percent figure so why are people freaking out about china

chief christine lagarde after 8 years as bank president he said to deal with threats to the eurozone and the greek bailout dominic kane looks at the challenges now facing his success with the simple servitor europe's central bank performed the changing of the god for the past 8 years mario draghi has presided over a year ozone threatened by what many termed an existential threat to the single currency when several countries found themselves virtually bankrupt and begging for bailouts and a succession of greek governments came and went with the country twice during druggies 10 years having to take out vast lines with those potential disasters averted now directly says his successes future policy challenges are clear monetary policy can still achieve its objective but it can do so faster and with fewer side effects negative side effects if the school policies are aligned with it christine lagarde useful some in her praise highlighting her predecessors stewardship of the e.c.b. and saying his legacy was a call for her to excel underlying all that you have done is a genuine commitment to

i sat down with christine lagarde in new york a month before she started her new

with christine lagarde, you think she definitely needs to move out of the box.d that mean in today's context? elena: well, it is a bit of a trap. she is in a position where she cannot do really much, because we have heard for about 10 years how rules-based things are, and since there is no rule now on how to handle and overly crowded, in terms of excess of 18es, economy countries, we do not really know in to stimulate the demand investment and lending, and we have proven that we do not know how to do that, because from 2008 until 2016, i think, we have had zero growth for the whole euro zone and only recently started having growth in the euro zone, and now, the fact that we have the slow and with thedemand lending, investing, and so on, again, we do not look at ourselves as an issue, but we are saying it is the trade war that is a problem, but there are a lot of reforms that have to happen, with each nation modernizing their industrial base. manus: well, the big criticism is perhaps nations did not reform quickly enough. you say the problem 10 years ago, the dia

the handing of the baton from mario draghi to christine lagarde.und optimistic there are still things central bank's can do. what do you expect she can pull out of the bag in terms of incentivizing germany? bob: my confidence that the central banks will ultimately end up in these more innovative operations is not really centered on the ecb being the leader of the pack. the political structure relative to the monetary policy structure is so inconsistent, the lack of coordination of political or physical makes it really hard for the cooperation that i referred to, the fiscal-monetary cooperation in various forms to occur. i think we will see it in japan, much more likely in japan. perhaps eventually in the u.s., if we can't generate some structural reform before it is necessary. it is harder to see in europe. i expect some movement toward fiscal, but i am suspicious that it will be a massive change in posture. caroline: james, do you expect a good handing over of the baton to attempt fiscal policy to work? james: it's a tough one. that's one of the p

former imf manager christine lagarde officially takes over. saying draghi's legacy went beyond policy. >> translator: what you are passing on to us, dear mario, is the torch of saving the euro from now on, this way that you traced, the humanism of eight years was seen through concrete actions through us i know that president designate lagarde will take over she knows the place and importance of this legacy and also the importance she attaches to independence and responsibility linked to this. i know that she will make sure she can also leave her mark in this institution >> incoming president lagarde reiterated she would commit to the policy >> the europe does not belong to you or the ecb however well it serves it. it belong to them, to the peopl of europe. we are stewards we are just passing through. getting to annette discussing whether it is the last round of negative rates and kwa quantitative easing. >> the main impact is to get close to its affect. to put the foot of the peddle here would not be a wise decision having said that, what chri

he said he did not want to give any advice to christine lagarde.expecting from christine lagarde? where do you expect she will make her mark? elsa: she has close political relationships with france and germany. her relationship with angela merkel is very good. that will be good for the future. as far as monetary policy, she is likely to be a consensus builder. herhas talented people, chief economist and others. i do not think we will see any radical the parts are in terms of policy. matt: one of the things i noticed yesterday, draghi said unfortunately the surveys and data coming in since his last not onlyjustifies cutting rates lower, but also getting back into the bond buying program. how bad is the outlook in terms of economic growth in europe? elsa: it is not catastrophic, but if you have an inflation mandate and you are missing it, it is incumbent to do something. think any of the hawks disagree they are missing their inflation target and they need to take that into account, but there is a lot of opposition. anna: elsa lignos, managing directo

i sat down with christine lagarde in new york for this edition of "leaders with lacqua" a monthef

alix: bloomberg caught up with christine lagarde last month before she officially takes the reins at b. she weighed in on the global slowdown. -- ms. lagarde: it is not in the baseline to have a recession. that said, it is mediocre growth that is at risk because of essentially one major threat, war that we trade brewing, andng or the uncertainty that invest -- and the uncertainty for investors and anybody making economic decisions. that is what mark carney called the tragedy of the horizon, which is the climate impact on our societies and economies that requires action now, but will produce effects later on. alix: still with me on set, jens nordvig of exante data, and mike mckee as well. what do you care about today? jens: today is a bit of a farewell party. i don't think we are going to get that much in terms of monetary policy. i think the key that could be relevant from a market perspective is, is draghi going to present a very strong signal on this fiscal theme? like, ok, we've done a lot of monetary policy. we need european integration. we need more push on the fiscal side. how a

new york's ban is due to come in in 2022. just to say, of course, christine lagarde is the boss of the imf. so apologies, especially if she is watching! stay with us on bbc news. still to come: it is washington's win. the nationals take baseball's world series for the first time in their history. indira gandhi, ruler of the world's largest democracy, died today. only yesterday she'd spoken of dying in the service of her country and said, "i would be proud of it. every drop of my blood would contribute to the growth of this nation". after 46 years of unhappiness, these two countries have concluded a chapter of history. no more suspicion, no more fear, no more uncertainty of what each day might bring. mission control: booster ignition and lift—off of discovery, with a crew of six astronaut heroes and one american legend. well, enjoying the show is right. this is beautiful. a milestone in human history. born today, this girl in india is the 7 billionth person on the planet. you're watching the briefing. our headlines: social networking giant twitter announces a global ban on all political

there has been a lot of criticism over the ecb and christine lagarde.it depends on how christine lagarde takes hold and makes the ecb her own. i think she will push for more the skill stimulus -- more fiscal stimulus and will be slightly more successful, and that is probably a positive for the euro. i am not sure if we are out of the woods in terms of downside, but i think if she gets traction on the fiscal stimulus from governments, that will help a lot. ok, thank you very much, richard, richard jones with our in berlin. european equity markets under pressure. as london half of 1% is an hour into its trading day. this is bloomberg. ♪ anchor: china signals on the trade deal with the u.s. cutting deeper, eliminating another 10,000 jobs at hsbc, europe bearing the brunt, and another weekend of unrest in hong kong with the emergency ban on facemasks. we are live in the city. ♪ anchor: welcome to "bloomberg surveillance."

>> your question points to the job christine lagarde has to face.o become more of a politician than central banker. she has to convince authorities to put on alternate policies. i think structural policy is more important than fiscal policy. are nowtive rates feeding into the assessment that the marginal cost of capital is negative. that means why bother investing? that is the kind of depression have expectations we don't want to see set in. caroline: always great to have you. thank you. earnings coming through this afternoon. 5.6%.el, -- up, micron getting a lift from intel . off by 7.6%, as they fail to live up to expectations when it comes to their holiday quarter. this is bloomberg. ♪ here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop, discover at yo

policy in some member states rather than in the union as a whole. >> is there a pathway for christine lagardeckly reunify the council and do the right thing for the eurozone economy >> so one of the things i think is downside from the current decision it has tied her hands on monetary policy for years to come so it would be much more credible if she was driving the decisions rather than comes into the office and inherits them but she will she is somebody who is a very savvy communicator she's also somebody you see at the imf, she can forge compromises. and the two things she needs to work on is first get a more united council, but not by saying i'm the parol and you have to follow my lead, but by bringing people into a general consensus on the committee which sometimes might mean doing less of one thing and getting a compromise around a decision the second thing she has to do is bring the public on board >> that was the chairman of ubs talking about ecb policy and the low interest rate negative interest rate environment the impact it's had on european banks. many european banks are not happy

tom: christine lagarde had combinerespect for the at the imf.draghi and everyone else. are we going to see a more academic construct at the ecb as they tackled the theory of these rate dynamics at the zero bound? i would not say more. there has always been an element of really looking at this and -- in majorly academic terms. there is strong disagreements athin the governing council the ecb, but i don't think that is going to be a major change from the draghi era in the lagarde era. guy: let's wrap it up. two quick questions. what is he going to do next? i hear rumors of the italian presidency and is germany going to miss him? alessandro: in italy, when there are elections in a number of years, he could be a leading candidate if he wants. guy: is germany going to miss him? alessandro: probably not, but i am not sure they will prefer the next option that will come to them. guy: on that note, we will wrap things that. our thanks to the authors of l'artefice.: banksl see how european are faring in this negative rate environment we currently have. t

he will pass the throne to former imf head christine lagarde.nherits a european economy with stagnant inflation, slow growth, rates far below zero. will she follow in the footsteps of her predecessor, and do whatever it takes? kumra from toronto dominion bank is still with us. i was going to say, whatever it takes hasn't been enough, although we are not in a deep what a lot oft people are calling pejoratively the japanification of europe. how has draghi's strategy worked? what will his legacy be? pooja: in the september theyngs, draghi has said no matter how much the ecb says they have unlimited tools, they are reaching a limit of how much the tools are available, and there is also a growing diversity within the ecb counsel, -- council, something that is clearly evident. last week, we had comments from ecb members saying they did not see the need for further easing at this stage. as far as the largest concerns, she comes at a time when it's not just domestic growth suffering, but global tensions are affecting growth. the ecb does have limited to

as christine lagarde loosens the rains, we keep talking about a reversal rate.es being more bad and harmful than impactful in positive? michael: we think the rates could go further negative, not by much. the implication does help reduce some of those negative impacts. would the supply-side stimulus really be what is needed here? michael: where there could be room for stimulus in the nearer term is infrastructure. also green bonds and environmental stimulus, issuing debt in order to invest in renewable energy, which is a longer-term goal, the objective being -- nejra: coming up, our conversation with ubs ceo sergio ermotti. this is bloomberg. ♪ nejra: this is "bloomberg daybreak: europe: " let's get back to the numbers from ubs. the most eye-catching headline coming through is net new money in the third quarter. basically, ubs getting money from wealthy clients, meaning assets hit a record. that is something very much in focus. also looking at third-quarter net income, $1.05 billion. the estimate was $971 million. it was a neat on the third-quarter net. pretax pr

maria: i want to get to christine lagarde in a second.re a different scenario. >> there are two possible scenarios. absent anything else, we would be in nafta. but remember, nafta is also cancelable on six months' notice. maria: so he may cancel nafta and do something else. >> he talked about that potentially before. right now, we're not focused on negative alternatives. right now we're focused on trying to make clear through the american public, to nancy pelosi, she should put it on the floor. if democrats really don't like it, let them vote it down. we believe there's no question that if it gets to the floor it will be voted very strongly, both in the house and the senate. maria: secretary, there's a new warning this morning on america's global standing. this is from incoming european central bank p president, christine lagarde. she spoke out before she takes over as ecb president next month. watches this. >> i was brought up as a citizen of this world. the risky see is that the united states is at risk of losing leadership and that wou

let's have a look at some recent news from the top flight of global economics let's start with christine lagarde she's due to become the 1st female president of the european central bank in just 2 weeks replacing mario draghi before that she headed the international monetary fund their replacement is also woman buggering economist christa lena your give up taking over there as managing director soon and last week said to flow shared the nobel prize for economics for research on fighting poverty she's only the 2nd woman to win the prize which has been awarded since 969 last but not least jennifer morgan became the 1st female head head of a german blue chip company last week she is co c.e.o. of software company as a p men still dominate the boardrooms of the world's biggest companies sub-saharan africa has the highest rate of female entrepreneurship globally with approximately 26 percent of female adults engaged in and printer elective ety let's hear from one nigerian business leader in the tech sector about what she thinks needs to be done to foster more female leadership. i want to society where

chief christine lagarde as we. need to loosen its wallets to fend off a possible recession germany's public coffers are often described as overflowing keeping them topped up is so important to berlin it's even in the law but tax collectors have won the bonus talk the government may soon need to tighten its belt as tax revenue will start to fold soon solid growth low unemployment and yet modest government spending for long this has been the german government's economic mantra for fresh estimates suggest state coffers may not be quite so overflowing in the future. the government's expecting to take in $1700000000.00 euros less in tax revenue next year than previously forecast and over $7000000000.00 less by 2023 recent years have cemented germany's frugal reputation with the government making a balanced budget a cornerstone of fiscal policy that's something many economists are now calling into question that among them the new head of the european central bank christine legarde is secure. i'm saying that those that ha

positione leaves the to be taken by christine lagarde. perhaps he will be most remembered for his remarks about saying he will do whatever it takes to save the euro. sterling edging one dollar 20 tenths as we get more $1.28 asty -- edging we get more uncertainty. gold is up. we have seen a run-up with it. today is perhaps indicative of a risk being taken off of the table. just need over five dollars -- $500 to buy one ounce. let's get over to new york. we have su keenan with the first word news. with japanese economy minister issue super maura. he has resigned after allegations of suspected violations of campaign finance laws. to stalle doesn't want parliament with debate about his own issue. he's the first member of prime minister shinzo abe's new cabinet. this after being appointed in september. he will be replaced. mario draghi has bid farewell to his 10 years as president of the european central bank with a take on the euro area economy. at his last press conference, he said the labor market have a lot of strength, growth was showing

that is something christine lagarde as the president of the ecb will decide. my reading is she has indicated we could start a review of monetary policy. i find it important to analyze or a population factor,t of a conditions operating in the environment of monetary policy. is the treaty, price stability. i would find this kind of discussion important. it would also enhance understanding of our strategy and improve consistent communication. >> you mentioned christine lagarde. do you think she will be able to bridge these divisions? >> she has many abilities. one of her great abilities is teambuilding. that is something we are certainly counting on. conscious policymaking and communication by the government counsel. >> has the ecb reached to the limit of what it can do to spur economic growth in the euro area? is it down to fiscal policy? >> no, that was also the message of more recent decisions by the ecb. it is important that all policy areas do their part. one is fiscal policy. the approaches differentiation in a sense, but there are countries that have a fis

it also notes that the new head of the european central bank, christine lagarde, is calling on the germanuse their budget surpluses to get the european economy moving. asian economies are also faltering, and the japan times is wondering why the trump administration has downgraded its participation at several big meetings in the next few weeks, including the east asia summit. it comes as the chilean government is forced to cancel the asia—pacific economic summit and the un climate summit because of unrest on the country's streets. so let's begin with british politics. with me in the studio is david buik, market commentator at the betting company core spreads. good to see you. you have taken my breath away with those headlines stop the gosh! i know, so much going on. today was the day we were going to leave, 31st of october. it was never going to happen and if you've been stupid like i have for the last five or six weeks, to watch the bbc politics from the house of commons, you would have every right to be utterly ashamed. it's been a disgrace. all sides, all parties. i can't believe the lo