we hear so much about the bailout of smaller eu countries like spain, ireland, even cyprus.eficiaries remain the big guys who aren't getting bailed out, germany and france. with the euro germany and france -- without it, sorry, they're number four and five on the list of the world's biggest economies. with it they're number one. so while it's in the best interest of germany and france to keep the eu together, it might be time for the smaller countries like cyprus to go their own way. for more on this subject check out my column in the current issue of "fortune" magazine. >>> our fifth story "outfront" which you may have heard a little bit there. a little person who is going to be with us in just one moment. yoko ono is making the case to free the russian punk band whose members are behind bars after they were found guilty of hooliganism. their crime, performing an anti-putin song in a moscow church. today ono honored the band with a grant for peace award. >> pussy riot was standing firmly in their belief for freedom of expression and making all women of the world proud to be

those comments coming during an informal eu meeting in cyprus. the german foreign minister saying that they're wanting to sanctions in response to the sanctions program. there is growing impatience among eu members over the lack of process after months of negotiations. how to get supplies of medicine and food to the people of syria, that was at the top of the agenda when the new head of the red cross met with the syrian president. >> they describe the talks as positive, but he says he was shocked by what he saw on the ground. >> these images are it should -- are showing fighting in aleppo. they have ousted people from different regions of the city. many are trapped. the world food program says the humanitarian situation is serious. the new president of the red cross met with bashar al-assaad. many people have died because they could not get help. >> now we will have to see if come together, we can come up with concrete steps. >> there are hundreds of thousands of wounded people in desperate need of help, many of them children. aid organizations s

. >>> so the country of cyprus which has beautiful beaches and is also known as a rather haven an exitat waduring an interview today he said i am certainly leaving this possibility open. i'm not predugeing what we will do. what i am saying is she's issues must be discussed earously if we want to serve the interests of the cypriot people. tonight's number, 17 trillion. according to the imf, that's co gdp of the european union which makes it the biggest in the world. we hear so much about the bailout of smaller eu countries like spain, ireland, even cyrus. the biggest fish beneficiaries remain the big guys who aren't getting bailed out, germany and france. with the euro germany and france -- without it, sorry, they're number four and five on the list of the world's biggest economies. with it they're number one. so while it's in the best interest of germany and france to keep the eu together, it might be time for the smaller countries like cyprus to go their own way. for more on this subject check out my column in the current issue of "fortune" magazine. our fifth story "outfront" which y

we have more from the meeting of eurozone finance ministers in cyprus. >> the delegates appeared relaxed as they arrive for the conference. for once, market pressure for immediate action to solve the crisis is easing, not mounting. there was no mention from spain's economics minister of a bailout for his country. >> we will discuss the state of our budget. there are good signs for the autonomous regions. the eurozone rescue fund could be in place by the end of october, but the head of imf was also quick to reject rumors that spain would soon need a bailout. >> i know there have been some trepidations and speculations as to whether president draghi and myself would be in the negotiations. i can assure you that we are not. >> increase's debt problems were also on the agenda. experts from the troika are in athens to assess progress. >> we call on the troika and greece to continue negotiations and agree on a set of credible measures to close the fiscal gap for 2013-2014. >> but despite the ongoing difficulties, the eurozone ministers say greece is moving in the right direction. >> let's go t

to crack down and extradite fugitives got to be living among the british expatriate communities in cyprus. nine people are being targeted. it is a joint operation between the two countries. this is gmt from bbc world news. i'm george alagiah. headlines. one person has been killed and another seriously wounded after a gunman opened fire at the canadian victory'rally corbetts new premier. representatives of the increased international lenders arriving in athens to discuss whether the country deserves the next installment of its bailout money. let's catch up on some business news with aaron. let's talk about nokia. it is a company in trouble. used to be a big giant of the mobilehone industry. it is make or break time. >> this is their last chance. i cannot tell you house dress, how much is riding on the launch of its new handsets will be out in a few hours time in new york. the company has always lagged behind apple and samsung. five years ago if you wanted to buy a nokia share it would have cost $40. now it's $2.29. five years ago it held more than 50% of the global market share of mobile p

you have stated plainly today of those from a few weeks ago in cyprus that we had to talk about the financing for such a program extensions and to speak plainly about it. usually that means hair cut for official sector holders, losses, new money from the imf or individual creditors. i am wondering if you can provide some perspective on how to think about that combination of solutions, or are there other potential components that are being met by the debate at the moment? there is some concern. if you can provide some perspective on how to think about the passage of potential solutions that one could consider in terms of promoting stability in the financial system? >> you are very knowledgeable and mention all the components. it is either all of this or all of that, but it is not worth it to dwell on the anchor -- intricacies of how much more or less. i know the country you are referring to. in terms of successful reforms and financing, there is sustainability going forward so that the country can walk on its own two feet. it is a whole combination of matters that need to be dealt with by the

beat malta to nail in green bay while borg area got a narrow victory that mania i always use for cyprus norway and switzerland. and also racking up the wins he has given us you need to change the back here and create also win it on cheese day night. so that's all the football now here in moscow russia's paralympians have met president vladimir putin after arriving home following their most successful ever gains in london the grand kremlin palace provided the backdrop for the reception as mr putin handed out state records to the athletes he brought home and i'm president of total of thirty six gold medals this hole was twice as big as that from the previous games in beijing and secured second place in the overall standings behind china the upward trend bodes well for russia where expectations are high to also to. win their home winter games in sochi in two years' time and gold winning football captain van pycke and hopes for more government backing in the future. will see a positive spirit and like to congratulate everyone here in our team successful performances and to say thank you ver

around the world wins for cyprus norway and switzerland. and also racking up wins were bosnia there's a given year to the group. and greece also winners on tuesday night. so that's the full hour here in moscow russia's paralympians have met president vladimir putin after arriving home following their most successful ever games in london the grand kremlin palace provided the backdrop for the reception mr putin handed that state over to the athlete who brought home and i'm president a total of thirty six gold medals this hall was twice as big as that from the previous games in beijing and she cured second place in the overall standings behind china the upward trend bodes well for russia expectations are also high to deliver top on this winter games in sochi in two years' time and the goal winning football captain event prepare for more government backing in the future. if. i'd like to congratulate everyone here in our team successful performances and to say thank you very much to support to the russian government and the sports ministry for a

that was talked about in a 2-day meeting in cyprus that began friday. let's talk with greg hadley.'s president of the bull & bear institute. in regard to what's been going on in europe, are you bullish or bearish? > > you know what, i'm a little bit of both. if you look at it, the ecb, by buying up the short-term notes of basically the pigs, greece- > > that's a key point, though: they're buying the short-term notes. > > it's the short-term notes, which really has been the problem for these countries, is how do they get the short-term financing to continue their governments? they are looking at it, and basically this is a short-term fix on a long-term problem. the structural problems in the eurozone will continue to exist. in fact, right now greece is asking whether or not they should renegotiate the austerity measures that they agreed to just recently. > > we don't even know what spain is going to do. they're still on the sidelines, even with the rates down, whenever it is, 5.5%. > > exactly. spain is not sure what they're going to do. in fact, we've heard some recent rumblings ou

got a narrow victory over armenia that there were a win for cyprus norway and switzerland in crete. and also racking up the winds were as a given year. so back here and greece also winners on tuesday night. so that's the football and here in moscow russia's paralympians have met president vladimir putin following their most successful ever games in london the growing kremlin palace provided the backdrop for the reception is mr putin. who brought home unprecedented total of thirty six gold medals this hole was twice as big as that from the previous games in beijing and secured second place in the overall standings behind china the upward trend bodes well for russia because expectations are also high to deliver top honors at their own winter games in sochi in two years' time gold winning football captain in hopes for more government backing in the future. it will be. like to congratulate everyone here in our team's performance. and to say thank you bill. to me support to the russian government and the sports ministry through all this support and it's not only about this award ceremony

while they were also wins or cyprus no way it can switzerland in group b. . and also racking up winners were bosnia has given a huge lead group g. slovakia and greece also ran out winners on cheese day night. barcelona superstar leonor messi was a bit of a shadow of his free scoring some of his argentina side came from behind to clinch a frustrating one one draw in peru in their south american qualifier carlos zambrano left footed home opener for the hosts midway through the first half from a luis to three all across. real madrid's gonzalo you get equalized fifteen minutes later to salvage a point for argentina however the two time world cup winners are still top of their nine nations to a point ahead colombia and acquitted. well enough that it's the fastest man on earth are you saying bolt says he's happy to have silence the skeptics after the six time olympic champion arrived back home in jamaica trying to . six year old proclaimed himself as a legend after successfully defending his one hundred two hundred four times one hundred four by one hundred meter t

while there were still wins for cyprus norway and switzerland improved. out also racking up the victory. there hasn't been a huge lead group g. it's like you angry small say right now on tuesday night. follows rev also learned a superstar live in a west wing was a part of the shadows of his free scoring self as his argentina side came from behind to clinch a frustrating one one draw in peru and then a south american plate that cost him but are no good home opening the host made way through the first half families plus three on cross but rammed his guns all in the end equalized fifteen minutes later to salvage a point for argentina however the two time world cup winners are still top of the nation through a point ahead of colombia and for the world. out of that it's the fastest man on earth you same boat says he's happy to have silenced the skeptics after the six time olympic champion arrived back home in jamaica the twenty six year old proclaimed himself as a legend after successfully defending his one hundred two hundred and four by one hundred meter tit

opportunities to go you know two ways sort first of all lots of countries will benefit obviously from cyprus things for us and the g. and other things to try sure is exporting not just or oil but also electricity as there are new ideas about being able to actually explored some as electricity to some say pecan trees but also provide investment opportunities for capital to invest in because if you think about somebody who was quite a bit of money as they have a big problem now where those invest weapons to get a good reliable return on its investments and actually in markets at the end the penetrated that was there is much more growth opportunity as in russia it provides some good investment opportunities also in markets that are really under priced and we believe russia has very low valuations right now so i think having some ability to give benefit to other countries and also welcome the investment is a way to introduce capital in benefit from natives it isn't as well as go our russian companies is the russian state itself investing into the far eastern economy or just once what once foreig

and you've also stated today, to ago in cyprus we have to talk about the financing purchase program extension. usually that means haircuts, including for official sector holders, losses potentially for official sector holders, new money either from the multilevel community such as the imf or individual creditors. and i know you will not comment on negotiations currently under way, but i'm wondering if you could provide some perspective on how to think about that combination of solutions, or are there other potential components that are being missed by the debate at the moment? because there is a lot of concerns and people go running off in one direction or another. if you can provide some perspective on how to think about the passage of potential solutions that one could consider. .. >> and not always with a huge debt on its back. so it's the whole combination of matters that need to be addressed collectively by the members. >> thank you. >> well, this'll be the last question. >> dominic, thank you very much, madam chair, for your insightful remarks, interesting. i was wondering, i would like

and the european debt crisis in focus as european finance ministers meet in cyprus.ters try to assess how much help spain will need. and consumers can preorder apple's new iphone5 as of this morning. online orders appear to be go g smoothly. the futures this morning are indicated higher this comes after these big gains we saw yesterday. dow futures up 48 points above fair value. and s & p up five points above. and you can tie it all back to qe3. whatever you want to call it. another big asset buying move to help boost the economy and lower u.s. employment. >> in determining the size, pace, and composition of any additional asset purchase, we will, as always, take appropriate account of the inflation outlook and efficacy and costs. additionally, the committee emphasizes, it expects a highly accommodative stance for a considerable time after the economic recovery strengthens. >> so what does this mean for your money and the markets? joining us for the next hour, our guest host to talk about this, kevin warsh, a former fed governor, he is a lecturer at stanford school o