market that's why car maker dime letter rail operator deutsche bahn and communications company deutsche telekom have all ceased activities in iraq. over now to our new york financial correspondent joining us from wall street good to see you so it looks like the e.u. companies are stuck between a rock and a hard place can the e.u. really rescue the iran nuclear deal over protecting companies here. well there's only so much the european union can do and that is mostly for two reasons first of all a company from europe has to think about if they want to do business with the united states always iran and usually the business deals with america much greater than with iran so that is number one and even if the european union is kind of offering a european companies to compensate them for lost business in the u.s. that is hardly going to happen and that would mean in the end that european takes players would have to come up with u.s. sanctions and then as a second mall then of global currency reserves and also global trade dollars so that gives the u.s. another strong card and even european companies

and communications company deutsche telekom all seized a pivot he's in iran. the united states is building up pressure on companies to quit their around business while of the same time and updating blocking statute by the european union is meant to protect you companies and their business in iran if it's legitimate let's bring in correspondent teri schultz in brussels terry companies are quitting or becoming very cautious over there around business isn't that sort of these scenario that the united nation was supposed to prevent well the companies truly are caught in a difficult position christophe as we just heard in this piece you got the u.s. saying they've got a cease business in iran you've got the e.u. saying they're not allowed to stop their business in iran so they're really caught in the middle right now and the e.u. legislation says that companies that can show that they've been harmed by u.s. sanctions can actually go back and sue in national courts for those damages but this is a mechanism that's never been used before so it's easy to see why the co

bubble burst he was probably the most hated litigation lawyer in german tech firms among them deutsche telekom the fact that they car has him as its attorney is really an asset. while you're there just tell us how the dax is doing today because it had a really bad week last week it lost what three percent. yes a bit more than three percent and today you know there was no big recovery trading was very wobbly again you know ben we have a lot of reserve bank activity on the agenda this week with the european central bank likely to talk about the ending of its asset purchase programs and also in emerging economies there's a lot happening the turkish reserve bank as well as the reserve bank in russia will likely decide on higher interest rates when all cyrus the governors of the reserve bank there will get together and you know talk about what how to deal with the high inflation and what to do after the huge slump of the peso all this is on investors' minds and it causes them to rather discuss those topics and discuss the risk that comes out of those countries and economies instead of you know inve

that is why daimler, deutsche bank, and deutsche telekom have ceased activities in iran. javier: over to our new york financial correspondent jens korte, joining us from wall street. good to see you. it looks like the eu companies are stuck between a rock and a hard place. 10 the eu rescue the iran nuclear deal while protecting company here? jens: there is only so much the european union can do, and that is mostly for two reasons. first of all, a company from europe has to think twice if they want to do business with the united states or with iran. usually the business deals with america are much greater than with iran. that is number one. even if the european union is kind of offering a european company to compensate them for lost business in the u.s., that is hardly going to happen commend that would mean in the end that european express would have to cover for u.s. sanctions. second, more than half of the global currency reserves and trait is in dollars, so that gives the u.s. another strong card, and even european companies that do not do direct business with the unit

carmaker dimer rail operator deutsche bahn and communications company deutsche telekom have all ceased activities in iran. and for moral there's some of our correspondent teri schultz she's on the story for us tonight in brussels good evening to you terry so the companies in the tweet by the u.s. ambassador i think it was folks wagon. he says that they're leaving the iranian market have a confirmed death that's right we heard that in a tweet from the ambassador but in statements from the companies from v.w. and b a s f they were not that specific what they say is that they're going to comply with national and international laws and that doesn't necessarily mean a leading iran altogether what b.s.f. says is that it's going to leave a business presence but complying with u.s. law at the moment will mean that it can't do business in the oil and gas sector of course one of the most interesting sectors complying with e.u. law means that it can't completely pull out so these companies are definitely caught in the middle and we're not exactly sure how they're going to navigate that just from

bubble burst he was probably the most hated litigation lawyer in german tech firms among the deutsche telekom the fact that the car has him as its attorney is really an asset. while you're there just tell us how the dax is doing today because it had a really bad week last week it lost what three percent. yes a bit more than three percent and today you know there was no big recovery trading was very wobbly again you know ben we have a lot of reserve bank activity on the agenda this week with the european central bank are likely to talk about the ending of its asset purchase programs and also in emerging economies there's a lot happening the turkish reserve bank as well as the reserve bank in russia will likely decide on higher interest rates when osiris the governors of the reserve bank there will get together and you know talk about how to deal with the high inflation and what to do after the huge slump of the peso all this is on investors' minds and it causes them to rather discuss those topics and discuss the risk that comes out of those countries and economies instead of you know investing

we saw the deutsche telekom combination is overdue.t one to watch is the french consolidation. maybe in america the situation is a little more conducive than the french situation. anna: thank you. m&a was a look at the market. let's look at our battle of the charts. danny versus christine. >> with yields hitting a four-year high, i want to take a look at how it is in -- resembling the ghosts of crises pass. look how much this spread reflects 2011. these trajectories are very similar. blue current, white 2011. in 2011, the spread went up to five and 30 bits. meaning if this trajectory continues and we see history repeat itself, we could have some more pain to come. anna: that's italy. we will see if that one wins the day. it's get to christine. >> i am looking at the powell premium. is the premium on one year fed rate forwards on the rest of gm. it's taken the u.s. dollar higher and higher. summer may be over but more sunny days for the dollar if this trend continues. if we see that, there will be little to stop the dollar in its tracks

and about a full quad-play product to compete with deutsche telekom.ppy to do that. >> can we focus on switzerland? you talked about needing scale or fail in various markets. what is the situation there? something you could do a deal to get bigger with the likes of sunrise or exit altogether? >> strategically, we look at the spectrum of ideas. most important, we are investing in a turnaround plan. the business has been solid for a long time with high free cash flow margins and cast convergence. still a great business. we realize the market needs consolidation and we are playing on the side with some opportunities. in the meantime -- not many operators in the market but in the meantime we are intending to invest in network and products. the video product is important and we are launching a new platform, incredible user experiences and lightning fast video products. we will invest in a turnaround first and foremost, and it looks to be pretty positive from our point of view. >> we have just spent a while talking about european cable, you are the biggest p