ended just minutes ago he was asked by a reporter what kind of advice he has for his successor christine legarde is what he had to say. no advice is lead 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 to form her own view to get it with a go in council about what to do but the stop here really. in a frank 1st who is listening to this full statement he leaves an empty arsenal there for his successor christine legarde a chemist spector change of direction from. christine lagarde and all of her public statements so far has sort of mirrored drive these policies 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's a 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 r

slowly at the top when christine legarde takes over the european central bank she'll face colleagues with a very different views over how to prop up a weakening eurozone economy. and who said ship building in europe is dead cruise ships for the chinese market and i'm feeling built in germany. business to have your business i'm in berlin welcome washington appears to be making the most of the world trade organization ruling in a 1st step the u.s. on wednesday announced new duties on aircraft and industrial and i would cultural goods. ruled that the u.s. can slap tariffs on 7 and a half $1000000000.00 of e.u. goods because the e.u. had illegally subsidized european plan make us it sets the stage for a further extension for it's already the world's longest and costliest trade dispute brussels is already mulling how to retaliate. the world trade organization. has given the green light for the u.s. to impose sanctions on $7500000000.00 worth of e.u. goods u.s. president donald trump a vocal critic of the w.c. oh appears to have softened his stance on the organization. you know winds are n

meeting on thursday interest rates will remain at 0 percent as expected christine legarde is due to take over in a few days mario druggies monetary policy was not always popular but despite all the controversies the support for the euro never wavered. and the standard rituals and costumes the blue suit the reserved the business like demeanor for the 65th and final time mario draghi enlightens the world about e.c.b. monetary policy the recent round in the euro area growth outlook remain on the downside. in particular these respecting to the prolonged presence of uncertainties related to geopolitical factors dries in protectionism and vulnerabilities in emerging markets. druggies used to dealing with uncertainty the global financial crisis the great recession the sovereign debt crisis he steered the eurozone through fiscal her akins. without druggy the euro might well have been sunk. as global financial markets began speculating against the common currency in 2012 he made his famous vowed to put paid to the crisis almost overnight. the z b is ready to do what ever it takes to preserve the

christine legarde already in germany to loosen it wallet to fend off a possible recession. solid growth low unemployment and yet modest government spending for long this has been the german government's economic mantra but 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 last by 2023. recent years have cemented germany's frugal back with the government making a balanced budget a cornerstone of fiscal policy that something many economists are not calling into question among them the new head of the european central bank christine legarde. i'm saying that those that have the room for maneuver and those that have a budget surplus notably germany and also the netherlands why not use that budget surplus and invest in infrastructure which currently needs investment contrary to what people say why not invest in education and innovation. legard is among a growing number of voices urging germany to spend more not

who is listening to this full statement he leaves an empty also know that for his successor christine legarde a chemist speck the change of direction from. 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 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's a very 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 mario draghi was sort of just stressing how there is a diminishing return as you get lower and lower and policy here she is also going to focus much like job he 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 front a mole in the fight in

meeting on thursday interest rates will remain at 0 percent as expected christine legarde is due to take over in a few days mario druggies monetary policy was not always popular but despite all the controversies the support for the euro never wavered. the standard rituals and costumes the blue suit the reserved the business like demeanor for the 65th and final time mario draghi enlightens the world about e.c.b. monetary policy their recent round in the euro area growth outlook remain on the downside. came to cure these respecting to the prolonging presence of uncertainties related to geopolitical factors the rise in protectionism and vulnerabilities in emerging markets druggies used to dealing with uncertainty the global financial crisis the great recession the sovereign debt crisis he steered the eurozone through fiscal her akins. without druggy the euro might well have been sunk. as global financial markets began speculating against the common currency in 2012 he made his famous vow that put paid to the crisis almost overnight. these c b is ready to do whatever it takes to preserve the

of the time of this crime for me to hand over to christine legarde and of course i've said it 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 dark. 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 author bernard richard branson plans to offer a weightless flights to 6 passengers at a time tickets for the 1st customer sell for a quarter of a $1000000.00. for more let's cross over to our man on wall street. is richard branson they had a virgin galactic 1 looking for more money to fund you know what people perceive as personal moonshot what was going on here there were no clearly i mean it's a costly and ever and so you need to ra

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 have the room from a new friend those that have a budget surplus notably germany and also the netherlands why not use that budget surplus and invest in infrastructure which currently needs investment contrary to what people say and why not invest in education and innovation to. legard is among a growing number of voices urging germany to spend more not just to spur growth at home but across europe. that's. the be. the be. the bad . hello and welcome to news from the world of arts and culture martin scorsese robert de niro and al pitino hollywood royalty together for the 1st time in the new movie the irishman also coming out the famous norwegian runs a car over canals gordon has curated an exhibition of edvard munch's works in a museum. and in our continuing series baking bread. is making rope lidsky from the czech republic. bots we begin with a new martin scorsese movie the irish man which has a star studded cast like no other indeed rather unbeli

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's widely credited with saving the euro for sort of bringing the european project back from the thing brink of collapse he's mentioned making creating 11000000 jobs over the course of these 8

next week former international monetary fund money director christine legarde takes the helm and all indications are that she will maintain druggies course and welcome. mario draghi was a familiar face in the world's financial capitals for more i'm now joined by g.w. financial correspondent on wall street against caught to good evening to you yes well mario draghi we know it was a controversial figure here in europe how was he seen on the other side of the ocean well u.s. president donald trump just this past summer said that druggy should be at the head of the fed and not the person that is in charge of the federal reserve at this time making quite some criticism of the fed chairman. powell well i mean what leaves of what is left for a druggie is his ultra lose monetary policy and that actually did put quite some pressure on the euro the euro in the tenor of mario draghi lost roughly around 15 percent in value in comparison to the euro to the u.s. dollars so it's probably the biggest effect here on the united states that the euro devaluated and the dollar got much drunker with inter

ended just minutes ago he was asked by a reporter what kind of advice he has for his successor christine legarde here's what he had to say. no advice is the sheen.

officially steps down in a ceremony with european leaders today he will be succeeded by francis christine legarde the former chief of the international monetary fund is the 1st woman to hold the office the 63 year old business to focus on issues such as gender equality and climate change is no expected to bring major changes to e.c.b. these seabees monetary policy. now let's go straight to frankfurt the seat of the e.c.b. we have chosen to lead the standing by chelsea is that true what can we expect from of the e.c.b. led by pristina god just business as usual look art is pretty closely mirror and most of her public statements since being appointed to succeed him she's talked about the need for a loose monetary policy for the foreseeable future she's also echoed in saying that you know monetary policy can only do so much and we really need governments to do more in terms of fiscal spending so they're definitely on the same page there at the same time look art is not she's not an economist and she's not a central banker so there is some talk about some some potential changes she's she's discussing

supervisory boards but none for executive orders but look at the top flight of economics here christine legarde she's due to become the 1st female president of the european central bank on november 1st replacing mario draghi and she head of the international monetary fund before gary and economist grace that nina. is replacing her there as managing director last week esther to float shared the nobel prize for economics for research on fighting poverty she's the 2nd woman to win the prize in the 50 years of its existence and earlier this month jennifer morgan became the 1st female head of a german blue chip company she is co c.e.o. of software behemoth and the country's most valuable company s a p now to get an expert's view on these developments i'm joined by claudia goals and they go she is the managing director of the association of women entrepreneurs here in germany claudia so good to. have you here in the studio now what are we looking at here coincidence or is it really a breakthrough of a new culture of diversity i wouldn't say so there might be some cracks in the ground glass ceiling bu

chief christine legarde says germany must start spending again we talked to the architect of germany's fiscal austerity mechanism and even he says debt is not just money all it's an investment in the future. and boeing's chief executive it needs to lawmakers we've made mistakes one year after the 1st of 2 fatal crashes of the boeing 737 knocks things c.e.o. says his company quote deserves scrutiny. this is either your business i'm down to earth as in bergen welcome germany must increase its spending to help the slowing global economy according to incoming european central bank chief christine lagarde the countries which have budgetary space have not really made the necessary efforts she told french radio station r.t.l. on wednesday after the 2008 global financial crisis berlin put a cap on borrowing 10 years of fiscal restraint later infrastructure is crumbling economy is stalling interest rates are near 0 the guard is joining a growing chorus of experts who say germany should stop its obsession with saving and stop borrowing. driven by the high costs of german unification germany's de

of the time and his crown for me to hand over to christine legarde and of course her said 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. and now to some of the other global business stories making news argentina central bank has sharply tightened currency exchange controls the bank's head says he aims to stem a surge in capital flight the bank is also said to buy pesos to stabilize the currency this comes after a left wing peronist i better fund for numbers one the presidential election sparking fears of protectionist policies and a debt crunch germany's commodify saw an unexpected jump of profits in the 3rd floor of the sale of a subsidiary lower overhead and costs from bad loans led to a 35 percent profit 5 year on year to almost $300000000.00 euros recently the lender announced plans for a radical restructuring following collapsed merger talks with deutsche bank. u.s. trade representatives ar

fuels and this tried people's patience that's the reason for the protests well i'll get through christine legarde i.m.f. or stare at the measures in a moment she's of course leaving the i.m.f. to run the defacto e.u. bank the c b but what do you think about lenin merinos chances of staying in power he's fled to kill and there are reports of him saying killings to come all the. the minister of defense has said there are not tanks on the streets of your capital the camouflaged. condition let's start with the final part of the question believe me perhaps it is hard for me to be objective because i have also been persecuted by this government but i don't remember since i have political understanding having seen a repression of this magnitude in the seventy's we had military dictatorships i was a teenager but not even at that time i remember the people being so brutally restrained so he takes this decision by suppressing constitutional rights by bugging communications looting houses without a legal order and all of this they are also using their force even with lethal weapons against the protesters so

austerity plan christine legarde is now moving beyond that she it's not her problem anymore she goes the european central bank that goes to chris georgia have a crystal ina the new had there who we heard from and in the end for me looking at this from the perspective of having watched from the is in the late ninety's and early 2000 searches seems to be a remarkable lack of. confidence a lack of confidence on their part not just the sidelining of the u.s. not just all these differences on interest rates but real fracturing over what used to be a consensus at the international financial institutions and this has really shaken the investor confidence like world wide because now you have them debating should we sink more good money to follow bad money like is it even worth it at this. history has shown that they have faulted at every single step of the way what could they possibly do not this time that could change the course of history very interesting time a transition. time now for a quick break but hang here because just after the break. it's. good for all the things that need to be

on his lonely at the top when christine legarde takes over the european central bank she'll face colleagues with a very different views obama to prop up a weakening eurozone economy.

government and corporate bonds as a way of stabilizing the eurozone economy this excess there will be christine legarde the former head of the international monetary. very well since early september a mystery oil spill has contaminated more than 2000 kilometers of some of brazil's most beautiful beaches critics say that the far right president i have also now those governments has been negligent in the handling of this crisis so let's bring in a reporter jonathan crane who is here in the studio with more on this story what is going on in brazil well oil has been pushing up on brazil's northeastern coast and for 2 months now more than 200 beaches have been affected and it's not just the beaches obviously it's the sea life it's being endangered we're talking birds tell it was even coral reef now as you mentioned because it was government has been accused of not doing enough so people have literally been taking matters into their own hands we've seen loads of videos on social media like this one they cleaning up the oil there with their bare hands thousands of people have been coming together they've been

government and corporate bonds as a way of stabilizing the eurozone economy his successor will be christine legarde the former head of the international monetary fund. a 100 years ago it's believed that there were more than 2000000 penguins living along the southern coastline of namibia and south africa but now africa's penguin colonies are endangered the population is decreasing rapidly our correspondent adrienne creech visited an organization in cape town that is trying to stop this alarming decline. one last chance to relax together before things starts to get uncomfortable. an appointment with dr roberts is not something these penguins seem to be looking forward to so at the moment put are doing is we're just taking the penguins and making sure that they're all ready for release so we each one has his own thing cause this is made of this what he had he was 70 percent oil and he was emaciated he was really underweight the conservationists take in sea birds in peril and try to prepare them to be released back into the wilds thousands of injured animals come here every year some will stay here for

main fuels and they tried people's patience that's the reason for the protests well i'll get to christine legarde for stare at the measures in a moment she's of course leaving the i.m.f. to run the defacto e.u. bank the e.c. b. but what do you think about.

ahead on al-jazeera and you face takes charge of europe's finances we examine the challenges christine legarde will face. as south africa announces in legend scene measures as droughts and climate change start to take effect. hello again to welcome back we're here cross parts of california we are watching the wall for us very carefully but by the time we get to tuesday there is some good news all of those winds that were causing the spread of the wall far as will start to ease across much of the area we're also going to be watching those relative humidities come up as well as for a list centralist going to be seeing about 21 degrees just a few days ago we were talking temperatures into the low thirty's across much of that area the next big system though we are going to be watching is what is coming out of the rockies right here you see the snow and that is going to bring the tempter down as well for denver minus 7 as the expected high and snow totals in this area could be as high as 25 centimeters or higher across much of the region dallas so you're going to be seeing rain with that storm with

i do feel for christine legarde goi ining into her new job. >> it's not helping. >> what do you do in the short term to offset now tariffs on top of, manufacturing slowing down eurozone data is not going to improve in the short term if these tariffs come into play. >> banks that are zombies. they had a chance to do what we did, put them all through reorganization, create buckets of bad assets and let those work through. they didn't do that. they covered it up they've been doing this thing where now they're cutting further into negative territory. what that's doing is taking already fragile bank balance sheets, making them worse. and the united states can do fiscal probably not now because they want to kill each other. that's the difference. they're separate governments, have different regulations, different tax regimes. it's not going to work i don't know that it's as simple as oh, we'll just cut more or now we'll buy european etfs. not going to work that zblae house speaker pelosi and senate leader mitch mcconnell, on our air earlier this week, float infrastructure. >> that would be

chief christine legarde after 8 years as bank president well it's been a turbulent reign for draggy tol with threats to the euro zone anse the greek bailouts dominic kane looks at the challenges facing his successor. with a simple ceremony europe's central bank perform 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 dragon's tenure having to take out vast lines with those potential disasters averted now draggy says his successes future policy challenges are clear monetary policy can still achieve its objective but it can do so all faster and with fewer side effects negative side effects if fiscal policies are aligned with it christine legarde was full 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