draghi to use.arket that they can still do more without actually having to do more at this stage, ross. >> okay. yeah, and we'll see what happens. of course, with that rate decision coming out at 12:45 cet. geoff, for now, thank you. we'll be on that extra programming with us. joining me in the studio, peter westway vanguard asset management. peter, we have seen the data get better, but it's still pointing to the continuation of contraction. >> yeah. >> and unemployment is still going up. so will there need to be a further monetary policy response from the ecb, whether or not today in the next month or so? >> you've got to understand about the ecb is that their mandate is primarily about -- and in the past, they came in saying inflation would be pretty much around 2%. i think what's interesting now is that they're two years ahead of forecast with inflation around 11 is.3. so in a way, even without the slight strengthening in the data, there is enough evidence for them to do something more. and so th

mario draghi the head of the ecb speaking as we're on air. he's in paris and giving a speech there and we're just looking at what he's saying. essentially he's saying we stand ready to act again when need be. he says there's limits to what monetary policy can achieve and monetary policy cannot create real economic growth. these are things he said in the past so far. european bank union is essential as well. this, of course, as finance ministers are meeting again today, eco fin taking on later on. we'll hear more from them later on. mario draghi speaking and we'll keep you up to date what he says out of paris. bob parker joins us here in the studio. hi, bob. so, mario draghi indicating we stand ready to act again when need be. there are limits to what monetary policy can achieve. what's the strategy >> it's very clear which is they remain very concerned that the court which ends this weekend will be the second quarter and the eurozone will be in recession and even though we have some improvement in the german economy, we have retail sales numb

i don't know what is the reason why he gave this prize to to mario draghi but i think it's something like we've seen before hand these prices given for you. and for the same non-mason it's all of that yes and i think this is the new one step by step markets to prove that they definitely don't know and you don't know what to do and then they start getting crisis which i don't which is ridiculous stuart for alternative for germany thank you very much for speaking to me so mario draghi picks up the award for responsible leadership in europe despite the current state of the europe's find of europe's finances. coming up to eleven o'clock here in moscow i'm back with more news for you in the company. live live. live . i think when he says you're very kind it's your ministry raises a fairly standard. is usually. a a a a a family affair or national. review's uniting. the seriously ring me. up with a a a over here he knew he had no. need to be. so why are you giving me. as you will. be. a run. i would rather ask questions for people in positions of power instead of speaking on their behalf an

mario draghi promised last year. the plaintiffs argue the fund stays in the back door and it could send bond rates downwards. >> imagine they lose value. who's responsible? 27% as with the german taxpayers. nobody asked them. >> but the government in berlin is standing behind the ecb on the matter. >> we are convinced that the ecb's measures up until now, and we can only assess the measures taken, do not violate the ecb mandate and that is why we believe this case is not valid. >> the matter now lies with the court. a decision is not expected for several months after germany hold elections in the fall. xml a star saying a ruling against the ecb could theoretically force germany to leave the eurozone. earlier, we asked our correspondent in brussels for more on the possible scenarios. >> it is very radical that it is at the extreme end of the options. yes, it is just as much political as it is judicial. if they said it was a step too far for the european central bank coming yes, it could ultimately do that. i'm not sur

first up, mario draghi speaking last night, the ecb defended his bond buying program or the monetary transactions. today, germany's constitution court begins a two-day hearing to decide if the ecb is overstepping its mandate with the plan. here is an excerpt from the interview where draghi rejects accusations he artificially lowered the risk to spreads. >> -- to remove only that part of the spread that has to do with the confidence, with confidence crisis in the euro, which was the situation prevailing last year. >> how do you tell one from the other? >> we have plenty of indicators, volatility, dispositions, short. we have plenty indicators to decide that was the confidence crisis. the interest rates are gone so -- have become so high that people will pull out of this country's interest rates will become so high and so on and so forth. >> that's the way the market works. he's overdrawn his accounts and he's punished by going bankrupt. the ecb says you will not go bankrupt. we'll back you up. >> no, the ecb does not say that. the ecb says if there is a confidence krirs is confidence

draghi had something to do with that.they have a derivatives problem. i know rick santelli will talk about that in a moments. let's look at the rates. there you go. the recent runup we've had on spanish and italian rates. italy is arguably breaking to the upside. more on that from rick in a moment. i want to show you the uk builders which have also gained. something is going on in the uk. the finance minister, george osborne, has just announced entitlement reform of sorts to save 8.5% from the uk budget. a lot of that money, even greater amount of money, will go into infrastructure spending. an announcement on that will be made tomorrow but a lot of pain in the uk. $18 billion of cuts now from current expenditure with the promise of $150 billion of infrastructure spending to be announced tomorrow that they will finance in a very different way. back to you. >> quite a day on all frobts. thanks so much. let's get a check on energy, too and commodities. bertha coombs at the nymex. hey, bertha. >> how are you, carl? we have r

mario draghi promised last year. the plaintiffs argue the fund stays in the back door and it could send bond rates downwards. >> imagine they lose value. who's responsible? 27% as with the german taxpayers. nobody asked them. >> but the government in berlin is standing behind the ecb on the matter. >> we are convinced that the ecb's measures up until now, and we can only assess the measures taken, do not violate the ecb mandate and that is why we believe this case is not valid. >> the matter now lies with the court. a decision is not expected for several months after germany hold elections in the fall. xml a star saying a ruling against the ecb could theoretically force germany to leave the eurozone. earlier, we asked our correspondent in brussels for more on the possible scenarios. >> it is very radical that it is at the extreme end of the options. yes, it is just as much political as it is judicial. if they said it was a step too far for the european central bank coming yes, it could ultimately do that. i'm not sur

. >> instead of the previously predicted 0.5%, mario draghi says the eurozone will shrink 5.6% this year. the data confirms the bank forecast that an economic recovery come towards the end of the year. >> those comments by mario druggie did little to encourage traders in frankfurt. our correspondent has more. >> several things that the president of the european central bank said the stairs they were received negatively on the stock market's -- the president of the central bank said this thursday. he gave no indication if they might lower interest rates soon. of course there was the weaker growth projection that he gave. also, disappointing for some market participants, was that drug he did not announce new measures, new ideas, how to health small and mid-sized companies get easier access to bank loans -- draghi and did not announce. he also said the european central bank was more conservative than other reserve banks. that is not the sort of stuff that the markets like to hear these days, that they are so dependent on cheap reserve bank money. >> let's get a closer look now at the market

. >> instead of the previously predicted 0.5%, mario draghi says the eurozone will shrink 5.6% this year. the data confirms the bank forecast that an economic recovery come towards the end of the year. >> those comments by mario druggie did little to encourage traders in frankfurt. our correspondent has more. >> several things that the president of the european central bank said the stairs they were received negatively on the stock market's -- the president of the european central bank said this thursday. he gave no indication if they might lower interest rates soon. of course there was the weaker growth projection that he gave. also, disappointing for some market participants, was that drug he did not announce new measures, new ideas, how to health small and mid-sized companies get easier access to bank loans -- draghi and did not announce. he also said the european central bank was more conservative than other reserve banks. that is not the sort of stuff that the markets like to hear these days, that they are so dependent on cheap reserve bank money. >> let's get a closer look now at t

talking a fed speak with fed watcher and dana chasen in just a bit and european central bank head mario draghi was and jerusalem a recently to say farewell to his m i t mentor a stanley fischer as he leaves the bank of israel next month. hokum the opportunity to basically say don't could count out the e.c.v. when it comes to dramatic new monetary measures we call it q.e. envy finally it looks like the u.k. is finally getting tough on market rigging except the target is a thirty three year old former u.b.s. and city being trader and no executives have been named and according to the financial times it might not even matter so the u.s. department of justice has already brought charges against the trader making extradition a largely moot point later we talk about big bangs and their regulatory sway with calmness alexis gold. and here's what's in your prime interest. just last week the lower chamber passed the swaps jurisdiction certainty act they could determine the extent of the authority to oversee the global swaps market as the largest component of derivatives trading swaps are mostly over the

but mario draghi says a recovery of sorts is on the way.emand from abroad will see the block achieve what he call aes gradual recovery in the second half of this year. speaking at a conference in shanghai, draghi defended the bank's omt bond buying program. at the same conference, a top fed official says the central bank may need to let inflation rise above its 2% target to help bring unemployment down faster. speaking this weekend, the minneapolis fed president says strictly capping inflation while letting higher employment linger is the wrong approach to monetary policy. coach lakota didn't offer much into whether the fed will begin tapering its bond buying program. janet yellen is signaling they may need to impose tougher capital requirements on the bigger u.s. banks that go beyond those. speaking in china, yellen says new regulations enacted is since the financial crisis have made et less likely a big bank will fail, but there may not be enough to ensure they don't pose a risk to the economy. the wells fargo ceo says the central bank is

draghi as well. he says the ecb is looking at negative to positive rates with an open mind and with all intended consequences, rates becoming more effective. again, another measure we looked at on the considered possibility of having a break on deposit facilities, speaking in jerusalem. we will continue reflecting on all those measures. we are ready to tackle them with the unintended consequences that they may entail. that's in jerusalem. >>> meanwhile, in northern ireland, it's been day one of the g-8 summit, which saw clashes over syria but progress on trade as george osborne claims the u.s. and eu are on the verge of the biggest bilateral free trade deal in history. steve is on the shores near the town where that is taking place. what do we think will be in this trade deal, steve? >> reporter: well, it's very exciting. let's face it, normally, we're very skeptical, ross, about g-8 and g-20. you've been to plenty of these meetings as well, and the substance is less around the rhetoric, but this tim

draghi comes out today. he said we don't have to do anything more. the economy's getting a little better, growth forecast revised up next year. so you have the european markets trade down particularly spain and italy. hope for more stimulus. here uncertainty going to the jobs number tomorrow. so the best posture people think, stay on the sidelines, took a little risk off. i've got my buy list because i believe it turns. >> josh brown, uncertainty when you get a two-day pullback of any size. where are the buyers? why or not people coming into the market and buying things that sold off the hardest? >> first, what's the rush? most people running money or sitting on plus 10% returns and now, as steve mentioned, uncertainty around the jobs market, why would anyone want to make a huge bet in front of that? who needs to other than people who have been trailing this rally? i think you've got -- it's not just sidelines. it's look, let's sit pat. so far we're in the midst of a correction. it's 4%. it's not a ferocious correction. you see rallies failing. you s

last year the ecb under president mario draghi offered to buy unlimited government wants to help struggling euro toe member states -- bonds help struggling euro zone member states. >> we have to clarify whether the european central bank is taking on responsibilities that have not been assigned to it. >> critics see the bond program as a form of financing for governments. it is something the bank is not allowed to do. the plaintiffs say german taxpayers would face risks without any parliamentary input. the judges are expected to decide the matter in the fall at the earliest. >> a bill that would clamp down .n russia's gay community the measure aims to ban so- called homosexual propaganda and would punish anyone who distributes information about same-sex relationships. the bill won approval in the lower house of parliament on tuesday. activists fear it will be used to go after anyone who supports gays and lesbians in russia. >> greece shut down its public broadcaster midweek in one of the government's most drastic measures yet to cut costs. athens said the station had squandered huge amounts

>> serial's wore his draghi in its neighbors as the international -- syria rian's warnalw -- sy is dragging in its neighbors as takesational community sides. hassan rouhani wins the presidential election in iran. behind the barricades, tension and anti-een pro government protesters in istanbul. captioned by the national captioning institute --www.ncicap.org-- its ties to cut syria with the embassy in damascus been closed and syrian diplomats been ordered to leave. putincameron and vladimir plan to discuss the problem ahead of the g-8 summit. the fighting continues. there has been heavy shelling in the east of the country. these pictures are from the west, where there is intense fighting. opposition fighters appear to be heading back in the suburbs. the area is on the outskirts of damascus and is heavily populated by pro-government forces. some of president assad's neighbors are trying to isolate him. egypt has tried to help in recent weeks. dollarsrovided 8 billion. the gulf cooperation council has put pressure on lebanon to rein in hezbollah, which has openly climb support to the assad reg

the president of the european central bank, mario draghi, said it still a long way until reserve bankswill come to an end with their crisis policies. in china, the central bank announced that it will help out banks with cash in case of an emergency. this had a soothing effect on investors about a potential problem of chinese banks to meet their financial obligations. adding to the good mood here in frankfurt after the trading was strong economic data from the united states. consumer confidence and america is strong. factory orders look better than anticipated. all this gave reason to investors to return to the stock market. >> let's take a look at the closing numbers. that closing number and frankfurt -- 1.5% gains. similar story on the euro stoxx 50. the dow jones up about .8%. and the euro falling against the dollar. >> police in belgium and in three german states say they carried out early morning anti- terror raids against a suspected islamist militant that was trying to use model airplanes to carry out an attack. >> persecutors hope the evidence will shed more light on a money-lau

the president of the european central bank, mario draghi, said it still a long way until reserve bankswill come to an end with their crisis policies. in china, the central bank announced that it will help out banks with cash in case of an emergency. this had a soothing effect on investors about a potential problem of chinese banks to meet their financial obligations. adding to the good mood here in frankfurt after the trading was strong economic data from the united states. consumer confidence and america is strong. factory orders look better than anticipated. all this gave reason to investors to return to the stock market. >> let's take a look at the closing numbers. that closing number and frankfurt -- 1.5% gains. similar story on the euro stoxx 50. the dow jones up about .8%. and the euro falling against the dollar. >> police in belgium and in three german states say they carried out early morning anti- terror raids against a suspected islamist militant that was trying to use model airplanes to carry out an attack. >> persecutors hope the evidence will shed more light on a money-lau

mario draghi said so in paris before parliamentarians. he warned them to do their homework, but if needed the ecb will stand by with unconventional measures, as he said. >> let's take a look at the numbers in frankfurt in more detail. some pretty solid gains on the side of the atlantic. the dax up almost 1.7%. heading towards a thousand. the euro stoxx 50 putting on even more gains at 2602. trading a still underway in new york, but there are also gains there. the dow currently at more than 1% and the euro losing a little bit of ground against the dollar right now. china's longest human space mission has ended successfully. >> the dissent capsule touched down in the northern grasslands of enter mongolia carrying three tigernauts, as they are known in china. it was a trip to an experimental space station. they want to establish a permanent space presence by 2020. when we come back, a look at australia's political saga. >> 50 years since "ich bin ein berliner." \ > >> there has been another dramatic turn in a power struggle that has defined

sell japan, buy european peripheries, draghi today threw a little cold water on that. and what you saw was people just unwinding that trade and the yen just got absolutely -- well, the dollar got hammered versus the yen. it was -- i still think probably goes down to 95. >> then what happened to the european bonds? the peripheral bonds? >> they fell. >> i know, by what sort of magnitude? >> let's see, italy up by about 25 basis points. that's about a 2% or 3%. portugal, spain were up, just about those magnitudes. not quite at 5%, which is the pivot point that everybody's looking at. but i think they could certainly get there. >> it's funny because when you see the yen strengthen to this degree or close to this degree, take a look at the exporters, so you saw the auto makers and sony, they got hit harder. it rose. >> it rose. it's interesting, aflac, the rising interest rate environment here which helped ensure as we talked about last week. interest rates have backed off a little bit. aflac is interesting, decent quarter a few weeks ago. i think it's 56 1/2, it feels lik

upbeat economic sentiment data from germany and quotes from the european central bank president, mario draghi, that the ecb wouldn't hesitate to taking necessary measures to prop up the economy. and that really supported the euro, as well. 127.88 to 93 is now trading higher, compared to lower 125 yen levels on monday. so really, the market reaction to the fomc will be the big focus and whether bernanke will actually spell out a clear schedule for tapering off of the bond program. that's really going to direct markets here, as well as europe and the u.s. later. back to you. >> sounds good. thanks a lot, rah mean medical guard at the tokyo stock exchange. tokyo is not the only market open this hour. i'll leave you with a look. >>> people in singapore and parts of malaysia have been coughing and rubbing their eyes recently. a blanket of smoke has drifted in from indonesia. field burning causes the annual haze. but the problem is particularly bad this year, creating diplomatic heat over who is to blame. nhk world's mark ho reports from singapore. >> here in singapore, the entire city is covered w

mario draghi said so in paris before parliamentarians. he warned them to do their homework, but if needed the ecb will stand by with unconventional measures, as he said. >> let's take a look at the numbers in frankfurt in more detail. some pretty solid gains on the side of the atlantic. the dax up almost 1%. heading towards a thousand. the euro stoxx 50 putting on even me gains at 2602. trading a still underway in new york, but there are also gains there. the dow currently at more than 1% and the euro losing a little bit of ground against the dollar right now. china's longest human space mission has ended successfully. >> the dissent capsule touched down in the northern grasslands of enter mongolia carrying three ternas, as theare knn ichin. it was tri to a experimental space station. they want to establish a permanent space presence by 2020. when we come back, a look at australia's political saga. >> 50 years since "ich bin ein berliner." \ > >> there has been another dramatic turn in a power struggle that has defined australian politics

draghi on one comment i read this morning, draghi needs the tapering effect like a hole in the head.tely. they wanted to keep yields low. you know, if this continues, then that's obviously not having a positive effect. >> there's the point. there's the if. how do we -- is there any way of working out the if part of that statement? >> to a degree. it's a self-correcting mechanism, right? if interest rates go up sufficiently in the states, it will slow the recovery down. particularly the housing market, i think, is pretty vulnerable. we were talking about the mortgage rate. that is a key pivot point for the u.s. from here. i think that, you know, draghi doesn't need it but there's a not a lot he can do about it because it's beyond his control. >> can we get back to a situation where good data sends yields up and poor data brings yields down? actually that would be a proper functioning market, right? >> yeah. i mean, in a world where risk is being properly assessed, then that's what should happen. but i think we are at risk here of getting too carried -- we're sort of, because we've had

head mario draghi would bust out with another large money printing scheme of their lives of course but it looks like no dice for the big banks and this is after we reported last week that spanish banks. we're already going all in with their nations that looks like the european lender of last resort will be lending or bailing out much later. and here's what's in your interest. it was first president kennedy who called for a federal program to provide federally subsidized mass transportation to americans his wish came true and one nine hundred sixty four when president lyndon johnson signed the urban mass transportation acts into law and established what became to the federal transit ministration as initial project injected a three hundred seventy five million dollars and incentives and subsidies to lure of state and local governments to intervene in the transit and history but all support has grown increasingly ever since and in fiscal year two thousand and twelve at the federal transit administration budget request was over twenty two billion dollars is included funds for bus and rail

speak with fed watcher and david chase in in just a bit and the european central bank head mario draghi was enjoy a recently to say farewell to with m i mentor a stanley fischer as he. leaves the bank of israel next month. hokum the opportunity to basically say don't count out of that you see when it comes to dramatic new monetary measures we call it q.e. envy finally it looks like the u.k. is finally getting tough on market rigging except the target is a thirty three year old former u.b.s. and city being trader and no executives have been named and according to the financial times it might not even matter so the u.s. department of justice has already brought charges against the trader making extradition a largely moot point later we talk about big bangs and their regulatory sway with columnists alexis goldstein and here's what's in your interest. just last week the lower chamber passed the swaps jurisdiction certainty act they could determine the extent of the c.f.d. seize authority to oversee the global swaps market as the largest component of derivatives trading swaps are mostly over

a fed speak with fed watcher and dana chasten in just a bit and european central bank head mario draghi was in jerusalem a recently to say farewell to the m i t mentor a stanley fischer as he leaves the bank of israel next month. hokum the opportunity to basically say don't count out the e.c.v. when it comes to dramatic new monetary measures we call it q.e. envy finally it looks like the u.k. is finally getting tough on market rigging except the target is a thirty three year old former u.b.s. and city being trader and no executives have been named and according to the financial times it might not even matter so the u.s. department of justice has already brought charges against the trader making extradition a largely moot point later we talk about big bangs and their regulatory sway with calmness alexis goldstein and here's what's in your prime interest.

head mario draghi would bust out with another large money printing scheme sterilized of course but it looks like no dice for the big banks and this is after we reported last week that spanish.

very much that was frederick rohde one of the co-founders of european students for liberty so mario draghi picking up an award for responsible leadership but certainly not winning over the hearts and minds of europe's young people. program worlds apart that's coming your way in just a moment but. you know when i was in school they would tell us stories about that other goofy economic system in the eastern bloc and about why it was doomed to fail they tell us how terrified communist bureaucrats would work very hard to give the illusion of a fish and see when their bosses were in town essentially out of fear they would try to convince the state that everything was just fine they promise of a fresh coat of paint on some stuff bump up their numbers in the books and get employees to put a smile on for the cameras so they wouldn't lose their jobs yeah this our teachers told us was a sign of true doomed economics rolling the clock forward twenty or thirty years the bosses of the current global economic system are in town and many locations around the upcoming g eight summit in northern ireland ar

to them and i think i would say so i mean he hasn't met his unemployment stanley fischer or mario draghi any one of these guys could be considered as angry because guess what they're not really living up to the expectations that they have yeah i totally agree with that so what we did was we made our version of angry. and. it seems that the program is not favorable towards gold that sound running into a pile of gold the boy on market is down five percent from last week after that conference he had i guess he's running scared i guess that well thanks for joining us if you want to follow us on facebook at facebook dot com slash crime and trust and you can follow bob bad english. twitter and you can follow me at perry and. thanks for joining. it was a great fracking day here at prime interest ok we just had to put out one end but we did learn how mcgraw hill is under the european microscope for alleged price fixing in the energy market and obama waged a war on coal it just a week away from the barbecue to build a fourth of july holiday but at least fracking is delivering natural gas to as it

surprised to hear obama hint at our beloved chairman's imminent departure but not that super mario draghi was prepared to push the e.c.b. supercar pedal as far to the metal as its central banker cohorts and alexis goldstein revealed the big banks are using their big might to get the regulatory scales in their favor and they made was chasing the fed right into tomorrow's announcement we finally caught up to our soon to be the bob chairman only to find out his replacement might just be more of the same oh well thanks so much for serendipity thanks for watching come back tomorrow i'm terry and boring it this is prime interest of italy. well. month high tech means good help whether it be the latest laser cutters a life saving heart innovators are working hard to keep you healthy for some companies it's been a winding road from car simulators to streaming systems for others it's been a lifetime of work along the mysteries of the sun. the future. people live over the boat. live. her mother. the goodspeed. her. mother wished to. follow. the law misleading good luck. mothers just seem to look at.

head mario draghi would bust out with another large money printing scheme sterilized of course but it looks like no dice for the big banks and this is after we reported last week that spanish banks were already going all in with their nation's debt looks like the european lender of last resort will be lending or bailing out much later. and here is what's in your interest.

surprised to hear obama hint at our beloved chairman's imminent departure but not that super mario draghi was prepared to push the e.c.b. supercar pedal as far to the metal as its central banker cohorts and alexis goldstein revealed the big banks are using their big might to get the regulatory scales in their favor and they mad was chasing the fed right into tomorrow's announcement we finally caught up to our soon to be chairman only to find out his replacement might just be more of the same oh well thanks so much for serendipity thanks for watching come back tomorrow i'm terry and boring it this is prime interest officially. welcome to. the day here you can feel it. if there are three choices in life first is to work in a mckillop. live on a miserable way like a slave. for a second just to jump the wall and catch the american dream. most of their cars and lose their lives. just to become a number of an organisation and get inside the drug trade. to buy something never forget. that. the good slave who did it by paid for what i've done it would never stop a. please . please. your mother. c

i mean mario draghi has hinted that he might even go for something as crazy as a negative deposit rates is it possible that the e.c.b. could simply bail out the entire euro system. well even with the negative deposit rates what he's trying to do there is the money out of hiding right all those excess reserves would certainly come out and try and do something if they if it was you know a huge opportunity cost aside but a direct cost to storing those that's the idea but that's what a obby is trying to do over in japan as well and they're using it the notion of debasing their people. to get them to take it out of hiding and spend it i guess and what we found is that the ability of the central planners to really affect macroeconomic trends by twiddling at the margins is not it's not good so far what they really have to do is they have to address the underlying structural issues we have too much debt the question is always been who is going to take the losses and that's the next part of the story that's queuing up right now ok and what happens when the fed stops buying bonds i mean they are