. >> his greatest wish was to work with commerzbank. coming from zimbabwe, he has seen at hyper-inflation close- up. his job provides a contrast. >> i work for the central bank in zimbabwe. i am more of a regulator. i'm in commerzbank which is regulated by the european central bank and the bundes bank, so i'm now getting to see the other side of the coin. >> the financial institution african team operates a network spanning 50 african states offering services to financial institutions and banks there. investors are closely watching every sector in africa from energy to infrastructure. with his unique experience, he has provided his german colleagues with valuable insights into such areas as banks and investment risks in zimbabwe. he understands the imponderables of doing business in africa. it has also witnessed firsthand how the global financial crisis has impacted african countries and their banks. rarely 200 meters from his office building, he comes across evidence of the anger over global financial policies. we asked the economist w

moody's argues in a communique there is a problem with the overall quality of the portfolios of commerzbank in the other german and austrian banks being downgraded today and most specifically for the german banks this. the major problem in terms of the paper they have on board. countries of the periphery of the eurozone spain greece portugal italy and this way heavily on their balance sheet on their profit potential and hence this downgrade by moody i mean could we see this coming or is it a surprise we throw the crisis germany's been well and movable object around which the rest of the eurozone can anchor itself in this downgrade is likely to put the country on shaky ground now. now it's certainly something that we should have seen coming in terms of this is a crisis that is getting more structural and i would even dare say institutional by the day so nobody will escape if even germany and german banks if we continue to handle this crisis in the way that we've been doing for the past two years a lot of talk but not much very specific and well targeted action is in order to solve this crisi

rating of german banks a place risks of use and crisis deepens the country's second largest lender commerzbank is among the dangers where there's three of australia's largest financial groups becomes a day after standard and poor's predicted one in three chance of greece leaving the usa after the country's general election later this month. but that time the business. as waiting for us there thanks carol we're starting this hour with the russian markets because the just kicked off the trading session and if we take a look at the latest figures we'll see that they are in pauses of territory with since we have a little glitch there we go as you can see the r.t.s. is adding a point eight five percent when it comes to them i said it's point three percent higher now when it comes to my sex it's now above the psychological mark of thirteen hundred points which is also an herdsman for investors there so we're hoping to see a more productive day today compared to yesterday which was a mixed performance now let's move on and take a look at current seas and see what the latest figures are when it comes

breached germany's defenses rating agency moody's downgrading seven of its major banks among them commerzbank country's second largest banking institutions the justification was that even europe's premier economy may not withstand potential financial shocks if matters in the eurozone deteriorate further also here two or three of austria's largest financial groups it's just a day after another agency standard and poor's said there was a one in three chance of greece leaving the single currency in the near future. but business news now and it seems that era float is no longer happy with just slowing to london strike area they want to become more of a permanent fixture on the market by less than their shares on the london stock exchange and i'll get to that story in just a second but first let's take a look at some international markets will start with the europe despite the fact that moody's downgraded some of the german banks as we've been reporting it doesn't seem to have a fact that investors in europe we see that the footsies adding over one percent of the theorem or and that's in fact addi

rating of german banks saying they face risks of crisis deepens the country's second largest lender commerzbank is among those named as well as three of australia's largest financial groups from sunday off the standard and poor's predicted one in three chance of greece leaving the eurozone and often countries general elections later this month. well time now for business use. thanks carol well as every morning we are following the asian markets which are the only one straight in right now so let's take a look at the latest figures and see what's happening there now as you can see right now the asian markets are extending tuesday's gains we have the nikkei that skated over one and a half percent and similarly with the hang seng getting just over one percent in the home cause we have property and consumer stocks them particularly well and now we have a weekly again which is a push in exports higher in japan now they had dropped after the group of seven finance ministers as well as central bank governors held a conference call meeting yes they soothe discuss the eurozone as well as other matters a

even germany's defenses with rating agency moody's downgrading seven of its major banks among them commerzbank the country's second largest it was decided that even europe's premier economy may not withstand potential financial shocks if matters in the euro zone deteriorate any further well let's get more on this development just live comment now from your vet over the chief of both belgium leading business magazines trends and that you know and thanks for being on the program first off how justified is this downgrade. moody's argue in. communique there is a problem with the overall quality of the portfolios of commerce bank and the other german and austrian banks being downgraded today and most specifically for the german banks there's certainly a major problem in terms of the paper they have on board the countries of the periphery of the eurozone spain greece portugal italy.

among them, the country's second biggest lender, commerzbank. moody's says it took the decision in view of the increased risk of further shocks coming from the eurozone debt crisis. bbc's steve evans in berlin told me more. >> it's a sense of the crisis coming home, if you like. when a big international assessour of risk, one of the organizations which does it on behalf of the finance houses and the finance markets, says that a german institution is at risk or greater risk than it previously thought because. situation in southern europe, then people in germany will take note. it sort of brings the thing home a bit. >> does it say much, if anything, about the strength, stability or otherwise, of the german economy there? >> no. they're saying that the german economy remains one of the strongest -- perhaps the strongest in europe, and that's why these downgrades aren't the kind of downgrades which you've seen for spanish banks and greek banks. but at the same time, you can't doubt the fact that it is a worsening of the situation. it is a recogniti