what ever happens, there's a lot at stake for the banks. >> as of the end of october, commerzbank wasarrying 1.4 billion euros in greek sovereign debt on its books. analysts think a further write- down of the greek debt is unavoidable. negotiations to join the greek government and private sector lenders over voluntary writedowns have been stalled for months. at the crisis summit in october, european leaders agreed that banks and insurance companies would have to write down the greek government bonds they hold by 50%. that would relieve greece of some 100 billion euros of debt burden. if the talks fail, default for greece would loom. and it that would mean an even larger hole in, or its bank's capital reserves. >> to last year's last year's biggest banks -- bankruptcy and germany, the maker of printing presses will now be broken up. officials have agreed to its biggest plant going to a conglomerate. two smaller plants said to be restructured in a management buyout. it was a world market leader in the press is used for newspapers. the downfall is attributed to the crisis and the printin

the commerzbank was the favorite of the day, shooting up in value.re was speculation that the requirements for capital for the banks would be partially and temporarily relaxed, and also, still a factor, the commerzbank's announcement last week on how plan to fulfil capital requirements without going to the state. >> let's take a closer look at the market numbers. in frankfurt, germany's blue- chip dax was higher on the day by 0.5%. euro stoxx 50 also higher. over in your, trading still underway for the dow jones industrial average, and it is little changed. it had been rallying earlier in the day. the euro gaining against the dollar, $1.3017. the spanish economy made it back into recession this year. the bank of spain estimates of gdp will contract by 1.5%, putting more pressure on the country's already high unemployment. that jobless rate could soar to nearly 24%, according to estimates. spain may have to wait until 2013 before the economy is growing again. by what is expected to be only a modest 0.2%. rim as a new ceo. it says that its co-founders

selling a fourteen percent stake in one of the top fifteen local and there's problems with bag commerzbank halted operations in russia several months ago the sale as part of an effort to increase capital by five billion euros in order to comply with you in legislation. ok that's our update for this but don't forget you can always find more financial stories just log on to our website. we have seen the damage it has done to our environment mark chemicals what the poor props we do not want anymore a new deal molds. our core system is just so there was a does more experience and i'm just just appalled but that's allowed to go on america. eating this unfortunately because we don't know what's in it there's no labeling there for it being used like the board to experiment to be used as guinea pig. now we have more questions than we have had three guards in like. you know sometimes you see a story and it seems so. you think you understand it and then you glimpse something else and you hear or see some other part of it and realize that everything you thought you knew you don't know i'm sorry welco

worries of european banks are affecting their businesses abroad one of germany's biggest lenders commerzbank could be leaving the russian market and selling a fourteen percent stake in one of the top fifteen local lenders a promise whereas the sale is a part of an end for to increase its capital by roughly five billion euros in order to comply with new european legislation all right business r.t. will be back in around fifty five minutes time with plenty more i'll see that. he. this is also your life or from oscar time for your headlines now a fresh round so. violent attacks in libya and colonel gadhafi loyalists clashed with supporters of the new regime in several cities all across the country at least five were killed in the former leader's old stronghold of bani walid. and gulf states withdraw observers from syria as a troubled country rejects an hour a brokered peace plan calling for president assad to go meanwhile the e.u. slaps more heavy sanctions on damascus. and india reportedly finds a way to buy iran's oil despite the e.u. embargo it's set to paper black gold with the yellow card

financial woes european banks are affecting their business abroad one of germany's biggest lenders commerzbank could be leading the russian market it's selling a fourteen percent stake in one of the top fifteen local lenders promise west bank the sale as part of an effort to increase its capital by roughly five billion euros you know whether to comply with the european legislation. coming up next on out see the headlines with rory i'll be back in fifty five minutes time with an update of latest business news. to do to please. me. if. i am. thanking. now five thirty pm here in the russian capital this is our city time for your headlines fresh rounds of violence in libya as khadafi loyalists retake their former stronghold of bani walid at least five people were killed with further clashes between supporters of the old and new regimes in several cities across the country. gulf states to withdraw or observers from syria as the troubled country rejects an arab brokered peace plan calling for president assad to go meanwhile the e.u. slaps more heavy sanctions on damascus. and india reportedly finds

thought was of european banks are affecting their business abroad one of germany's biggest lenders commerzbank is leaving the russian market a forty percent stake in one of the top fifty local lenders that. hold it up or ations in russia several months ago the sale as part of its efforts effort to increase capital by roughly five billion euros in order to comply with the legislation. that's all for now but stay with us for headline news with kerry coming up right after this. hello time for a look at our main headlines now damascus rejects arab league calls for president assad to step down and form a new government with the opposition it has decided to extend its observer mission to the country as a ten month long unrest in syria rages on. iran stands defiant as the e.u. imposes its toughest sanctions yet banning the import of crude oil from iran sponsors to its disputed nuclear program new oil contracts have been moved out on existing deals are now to run to die by which time the e.u. is hoping to secure alternative sources of fuel supplies. last derided for being one sided extradition or whic

that swap deal in britain the first these down one percent the dax a one point one percent with commerzbank being one of the biggest losers and siemens is also losing after putting a drop in fiscal first quarter profit. because the closing picture in russia and my six ended percent and point seven percent down what we saw is a banking and energy stocks among the main losers lukoil notably down one point eight percent the company is planning to invest more than one billion dollars in its oil rich trips to top field in siberia however chemicals make a career on the was among the biggest gainers of the day up almost two percent it's reported almost five percent increase in production for the first before the idea of twenty eleven investment strategist at xander wraps up today. the result of that they beat yesterday's close by. these red numbers along that huge volumes are pretty low and today people have no conviction for the direction of the market. as often our business i'll say will be back next hour with an update i'll see you then join me again. if. the limits. to. please. and. if. from s

financial woes of european banks are affecting their business abroad one of germany's biggest lenders commerzbank is leaving the russian market it's selling one fourteen percent stake in one of the top fifteen local lenders problem says bank commerce bank hold it up in russia several months ago this is part of the effort to increase capital by roughly five billion euros in order to comply with european legislation. that's all the business for now but other back in less than one hour the war. if. you. feel. the limited. to a few to. fix a. period. if. well look. it's technology innovations all the latest developments from around russia we've got the future covered. welcome back this is r.t. time for the headlines now damascus rejects the arab league calls for president assad to step down and form a new government the opposition has decided to extend its observer mission to the country as a ten month long unrest in syria rages on. stands defiant imposes its toughest sanctions yet banning the import of crude from iran response to its disputed nuclear program new oil contracts have been ruled out whi

financials have done well today as they make up previous losses here people almost six percent this hour commerzbank up almost seven percent in frankfurt the footsies up over four thousand seven hundred points in the last few minutes that's up one and a half percent. russian markets have edged into the red in the last hour as investors cash them healthy gains for the day both e.l.t.'s and most states are hovering negative ground. and now the biggest movers almost six. on the rois supported by stronger crude of over one and a half percent at the moment truck may could come as is also gaining of reported a forty percent increase. in sales for twenty eleven but retail a seventh continent is continuing to slow it will report its parent company will boil back its shares at a record low price. today even despite we're seeing put it in the past couple of trading days to do some market going higher and most blue chips went up by one point five to five per cent actually so since burbank and pretty big driving the market by almost three point four percent higher the single asked from being as high as one poin