the e.u. is far from you know united in with the problems facing the e.u. and facing the world it's not really. making a very fit for the future when they take 5 days to get a decision like this done if i may say that i mean do you it's united otherwise you would not have a deal i mean i agree with you it was really very difficult 5 days and 4 nights to negotiate small signs and but i'm sorry by the end as it did. kind of out of congress and abroad they never managed to make a deal and he has the you made by 27 national member states one last big picture question to you pavel before we take a look at some of the details of this deal it was a compromise as both essentially have have conceded with significant tradeoffs made by pretty much all interested parties the question is whether the result justifies those concessions of course just as far as they're called concessions on the we have to bear in mind that to be fair if in the in the u. turn to serve a different members through its with different size different the columbia systems and for some of these me

their rivals this harms fair competition in the e.u. the e.u. commission has 2 months time to decide if it wants to challenge the ruling in the news highest court the core of the problem is that the e.u. does not have one common tax code at the moment firms officially pay 12.5 percent corporate tax in ireland that's compared with the e.u. average of 21.3 percent officially companies in germany have to cough up at least 30 percent. that alone has attracted many companies to ireland and in fact apple paid far less tax at times for example as little as 0.005 percent in 2014 when the tech giant pay just $50.00 euros tax on every 1000000 euros in profit is the 2nd ruling that the e.u. commission has lost last year the institution lost a case against starbucks which was accused of owing $30000000.00 euros in back taxes to benevolence it all shows how difficult it is to crack down on cases of alleged corporate tax avoidance. folk around a virus crisis has boosted business at least for the freight business particularly on trains on the toilet roll and m

germany kicked off the e.u. custodianship by projecting the words together for europe's recovery on to berlin's iconic brandenburg gate the slogan is a reference to the damage caused by the virus pandemic which has plunged the european economies into recession chancellor angela merkel has described it as the greatest challenge the e.u. has ever faced. on now in her final term as chancellor angela merkel also faces a personal challenge the next 6 months are potentially the greatest but almost certainly the last opportunity to shape her legacy pangle america had grand plans for her final performance as european leader but then came corona since the pandemic started she's used every opportunity to stress what she's up against over the coming months depending me if the pandemic with its economic downturn is the largest challenge in europe's history the. biggest crisis in the history of the european union because it's. new but it's not an exaggeration to say that we're facing the largest economic challenge in the his

you know the motto for the e.u. presidency is together for your recovery what is angle of michael's plan. the german government will throw all its weight behind efforts to get the european union out if there's very existential corona crisis of course the german government had completely different plans for its e.u. presidency that always takes a half a year but then came corona and now the chancellor has understood that she does need to take drastic measures and to get the approval of all the other member states in the european union to push through a plan rescue fund that is worth 750000000000 euros to help the countries that have been hardest hit by the current crisis and get it out and of course that is going to be an extremely difficult process but today here at poona stock she's going to try and convince german members of the palm and that this is vital because also it makes germany germany economy depends very much on the european market germany's an export nation some 70 percent of trade is done with its euro

this is deja news live from berlin signs of optimism from e.u. leaders as negotiating a massive coronavirus recovery plan you counsel president shots michelle says an agreement worth hundreds of billions of euros is now within reach after 73 meant has been reached breaking 4 days of debt joke also on the program. 76 years ago i don't fit just survive to mess with the nation attempted knowledge abuse on horses on a dolphin back the land to try to kill it. sounds of the united arab emirates not long shows arabs average arab roles 1st mission to the whole both games to provide the 1st complete picture of the red planet's to atmosphere. and the infamous time welcome we start this hour in brussels where e.u. leaders have made their 1st breakthrough in 4 days of talks on a coronavirus recovery fund and initial major sticking points on how 750000000000 euros should be distributed has now been results of the bloc still has to overcome for the issues to agree on a long term plot. the long negotiations have visibly taken their toll and he your leaders incl

coronavirus recovery fund after 4 days of heated talks which almost broke the record for the longest e.u. summit in history leaders finally agreed on the details of loans and grants should be given to countries hit hardest by the pandemic the loans will include rule of law compliance measures meaning member states will have to show that they are up holding e.u. laws to receive the relief funds. and germany's chancellor angela merkel worked closely with french president emmanuel mccrone in order to forge the steel merkel said that she was very relieved and described the deal as a good signal she talked about how the leaders work their way toward an agreement. scott trog there were questions on covenants for example questions as to how the member states can actually very fine whether this money is well spent in the beginning i thought well can actually do that can these different viewpoints be bridged and then one worked on this for days with great intensity and a lot of creativity and we were able to do that it was possible and i think that this means we can be encouraged we can be hopefu

the turkish offensive in syria which was widely condemned within the e.u. it just really took on a whole nother level of criticism here and the e.u. so in some sense this does sort of help them out of a politically fraught situation but it is a blow for volkswagen because they really had been hoping to use this as a bridge into the middle east and eastern europe eastern europe markets. and you very much. you're watching to dub in news don't forget you can keep up to date on our web site that's dot com and you can follow us on twitter and instagram as well eckstein dept accused i vish benedict thank you so much for watching i'll be back in 30 minutes. the for. the for. the feeling of globalized world. where everything is connected. takes. to set things in motion. local hero show their ideas can change the world. 3000. next on d w. in the heart of climate change. the target. people. want to use today of their future. d.w. dot com the city. could. look closely. carefully. don't. need to go. discover the world. lead the way. subscribe to the documentary to. pla

as the e.u. stretches out a deal on a coronavirus recount refund for their feels unloved alone people are also struggling with an economic crisis during that can damage. the united arab emirates launches their arab world's 1st mission to mars the hope aims to provide the 1st complete picture of the red planet's atmosphere. i merely phenomenon welcome we stopped us all in brussels where your leaders have made their 1st breakthroughs in 4 days of talks on a coronavirus recovery fund an initial major sticking point on how 750000000000 euros should be just distributed has now been resolved but the bloc still has to overcome further issues to agree on a long term track. the long negotiations have visibly taken their toll on e.u. leaders including hungary's prime minister viktor orban he's resisting moves to tie the fund to standards of freedom of expression in recipient countries but or has faced a stiff opposition from the e.u. states who are fully intent on linking the 2 could develop what is about

e.u. is sort of seen or threaten to fly apart so many countries think now we have to sort of close our borders we have to have all down and just act in our own interest and what i'm going to america is going to tell them over and over again and i assume it is want going to be one of the main and central slogans of a presidency is it is in your interest that we all act together she really has to keep these countries together and that is the main political challenge to sort of combat nationalism combat those forces of isolationism that have sprung up and throughout so many countries in eastern europe and particularly in the silos so that is the main task and what also will be very difficult i mean it doesn't end there we have to see a long list of issues she has to deal was breck's it let's not forget that in you probably china policy that is going to be very very difficult thing to balance but in the end it is really the huge expectations that are being put on to anglo-american shoulder eve

the e.u. commission has 2 months time to decide if it wants to challenge the ruling in need use highest court the core of the problem is that the e.u. does not have one common tax code at the moment firms officially pay 12.5 percent corporate tax in ireland that's compared with the e.u. average of 21.3 percent officially companies in germany have to cough up at least 30 percent. that alone has attracted many companies to ireland and in fact apple paid far less tax at times for example as little as 0.005 percent in 2014 when the tech giant paid just 50 euros tax on every 1000000 euros in profit is the 2nd ruling that the e.u. commission has lost last year the institution lost a case against starbucks which was accused of owing $30000000.00 euros in back taxes to the netherlands it all shows how difficult it is to crackdown on cases of alleged corporate tax avoidance. and i'm now joined by clinton from business of a interest on defense so the e.u. has been trying to clamp down on low tax policie

will leave the e.u. with no future deal in december a majority of germans say they want the remaining $27.00 e.u. states to move towards even more integration. and let's get a quick check of some other stories making news this hour elaine maxwell the former girlfriend of the late finance year and convicted pedophile jeffrey epstein has been arrested in the u.s. on sex trafficking charges maxwell is accused of recruiting girls to give epstein massages during which they were pressured into sex maxwell has previously denied any wrongdoing colombian authorities have arrested 8 leftist rebels suspected of involvement in the bombing of a police academy last year in january $21000.00 car bombing in the capital bogota killed $22.00 people the suspects face multiple charges including murder and terrorism. a living i thought of this and hong kong's pro-democracy movement has left the country shortly after he testified at a u.s. congressional hearing about the draconian security law imposed by china this week natha

leaders are said to debate the e.u. recovery fund 750000000000 euros proposed to help e.u. economies bounce back from the huge blow dealt by covert 1000. according to council president shuffler shows proposal the you would borrow money in financial markets and directed toward countries had hardest by the crisis such as spain italy and greece what's driving a wedge between leaders is where the money should be shared as grants the so-called frugal for austria the netherlands finland and sweden insist on prioritizing loans . the entire financial package on the table includes the next 7 year e.u. budget of more than a trillion euros and the $750000000000.00 euro recovery fund with $500000000000.00 in grants and control is another hot topic for presidential. with many raising concerns over hungary and poland he wants to add a rule of law conditions to e.u. funds but this is likely to be sacrificed with polish president andre duda and hungary and prime minister viktor orban likely to mount resistance. all eyes are now on the head of the e.u.'s largest economy german chancellor un

milestones for the e.u. there but it certainly didn't come easily in fact they were days of negotiations many late nights what took them so long south there's a basic conflict we have been talking about it in the last couple of days there to solve and countries italy spain very hard hit by the covert 19 crisis they off also been facing economic difficulties even before covered 900 hit them and they said we need grants because we can't pay back loans we don't have the money for it and on the other hand there are the northern countries the so-called self declared frugal countries for example the netherlands and austria and they said yes ok we want to help you want to show solidarity but we want to only give out loans and so both have to compromise the reason is the fed to sell some core sort of victory to their own voters back home also. the netherlands prime minister has to let's listen with he had to say earlier this morning. what i was aiming for and i think we have achieved emerged in the lurch is you brea

so how significant is the e.u.'s approval of via our financial markets correspondent chelsea delaney has more or disappear has been officially approved by the e.u. but whether there will be any of the drug available to your members is a big question right now the u.s. has bought about 90 percent of the available supply there september so this is obviously stoking a lot of concern here in europe about what would happen if we saw a 2nd wave of factions here as well at the same time this is reigniting all these fears about the very nationalistic and 1st approaches of some countries to corona virus vaccines and treatments. the 1st face to face talks since the coronavirus pandemic began have ended a day early and with the 2 sides no closer to a deal failure to reach an agreement by the end of the year could have a major impact on businesses already reeling as a result of the pandemic. this was the moment britain officially left the european union. it was january 31st and nothing really changed. instead a transition perio

huts can also just like for italy and all of the e.u. member states it's in germany's interest to have a functioning single market we have experience what it's like when supply chains are destroyed when they cease to function that is affected us equally and that is why we are equally responsible for finding a good way out of this situation for the european union and all of its member states. so that was merkel appealing for unity and compromise during a news conference and from all we can now go to his chief political correspondent and then the crane who is actually he is a bit outside berlin where the meeting is being held. melinda so merkel and condi have been speaking what do they have to say. well there were messages of urgency similar to the one that we just heard from the chancellor in that sound bite and there were messages of real personal warmth with the chancellor for exactly for example praising the italians for their fortitude and their discipline during the pandemic reminding her listeners of the great sacrifices that italy

and amongst e.u. leaders that they need a uniform , consolidated approach and there is more support for fiscal stimulus and a fiscal approach, which i think ultimately be positive in terms of fiscal inspiration and e.u. and also better support within the euro zone. , we are long italy versus germany and long spain. we think there is a further scope for compression. guy: what are your competitors -- one of your competitors has put out a note saying to focus on u.s. rather than european credit. part of that is down to the crowding out effect. the ecb has basically absorbed 40% of issuers. there is also the significant reduction in hedging cost as well. do you think that is a good idea? time to pivot away from it rather than towards it? marilyn: i would argue that now is the time for basically diversification. we do like assets in europe and we do like assets in the u.s. as well. it is definitely true to say the policies the ecb asset have had a significant impact on the valuations of assets within the e

me 5000 for and continue to fight for a good solution but the e.u. and germany must and should be prepared in case we don't reach an agreement on the . major sticking points include fishing rights defining a level playing field for businesses and the role the european court of justice could play in enforcing any agreement. the stakes are high without a deal economic ties will resort to world trade organization standards meaning high tariffs close us and even more disruption to businesses everybody struggling because of the pun demick companies are understandably rather pessimistic. everything surveyed by the german british chamber of industry and commerce found that only 8 percent of businesses expect a comprehensive free trade agreement to be reached by the end of this year. earlier we spoke to one of the shopper at the british german chamber of commerce and we asked him on the worst case scenario of a new deal breaks it could mean for trades and the economy on both sides of the channel. so i think there will be disruption at the border there will b

the e.u. wants argentina to deepen its ties with other latin american states out of fear the china could capitalized even more on the country's weakness. but that's. that's what that would need to china increasing its economic and geopolitical influence in south america the whole region we've seen that happen in venezuela. there seems to be a lot of willingness to ratify the e.u. mercosur a trade deal but also a lot of resistance especially in europe. the rose biggest nightclub passerby opened its doors after the country east it's locked down but instead of preparing cocktails for late night revelers and dancing on stage the club's employees are now assisting customers doing some shopping the club stands for has been transformed into shelves stocked with groceries the manager said she chose to reopen as a market in an effort to protect chops. that's your business update thanks for watching. africa. back to the future when century promise becomes more injuring herdsman it's because of the condu

leading the e.u. council presidency right now germany went from being part of the frugal nations not wanting to spend much on the e.u. to be one of the big proponents to spending a lot of money what's what's behind that shift. well behind the sift is that as you said you know america was always always more on the frugal sides but germany is also a big exported nation we have to we have to we always have to stress stress that actually and germany is dependent on the e.u. single market and if countries like italy or spain for example are weak economically this also hits germany so it's also a very egoistic thing to do and not just an altruistic or solidary. initiative that i go marco is forcing here. stress in brussels thanks very much and now to some other stories making news this hour after a 6 day manhunt german police have arrested an armed fugitive in the country's black forest authorities launched a massive search for the 31 year old after he disarmed 4 officers have done point and fled into the w

the e.u. has opened its external borders to leisure and business travel today but not to all countries don't know about us hotspots including the u.s. and russia were excluded from the so-called safe list of countries whose residents can enter the block australia japan and south korea did make the cut however chinese travelers can also enter but only after china opens its own borders it's a difficult summer for tourism dependent businesses in europe with more residents staying close to home. just a delay has more. what does this for you need for the. it's certainly an important step for europe as they do begin to loosen these travel restrictions many many businesses many economies here in europe are very dependent on travel and tourism revenue especially if you think of a country like greece or or spain they they get a lot of their revenue from tourism every year and some businesses in that sector get almost all of their revenue and this really crucial summer travel season that's just beginnin

leading the e.u. council presidency right now germany went from being part of the frugal nations not wanting to spend much on the e.u. to be one of the big proponents to spending a lot of money what's what's behind that shift. well behind the sift is that said you know america was always oh always more on the frugal sides but germany is also a big exported nation we have to we have to we always have to stress stress that actually and germany is dependent on the e.u. single market and if countries like italy or spain for example are weak economically this also hits germany so it's also a very egoistic thing to do and not just stick our solidarity. initiative that i'm going merkel is forcing here various tribes in brussels thanks very much in france officials have launched an arson inquiry after a major fire at the cathedral in the western city of non the blaze has since been contained footage shows flames leaping through the gothic church and a large cloud of black smoke. dozens of firefighters were ne

economy get back on its feet in addition to the 7 year e.u. budget of more than a trillion euros michelle has proposed a recovery fund of 750000000000 euros in loans and grants money for this fund will be bored by the e.u. on financial markets and directed toward countries hit hardest by the crisis such as spain italy in greece. he is considered one of the biggest obstacles to a deal austrian chancellor is a bustin coots goods things that agreement can be reached but that necessarily this weekend. is used. there is still a lot of questions to be answered 1st of all to where should the funds who will be the main recipients what is the suitable critique or for this. bill clearly delighted to be meeting up again in person the jovial atmosphere is not expected to last long and german chancellor angela merkel's cautious optimism in the days leading up to the summit seems to have subsided. this put off we will take a lot of willingness to compromise from all in order to agree on something that is good for europe that will be good for the people of e

the e.u. council has proposed a just in the recovery package to 390000000000 euros in grants and 360000000000 in loans spending plans would need to be agreed by so-called qualified majority of countries and payouts would be linked to respecting the rule of law. the proposal salacious proposal is the fruit of intensive negotiations the talks have been extremely difficult but we wanted to negotiate in a way that would unify everyone it's also useful if you still believe it's been 20 years since you leaders were lost in broad and equally difficult negotiations in needs in france back then 15 heads of government spent almost 90 hours in talks negotiation over expanding the e.u. eastwards and the distribution of voting rights in the e.u. council record could be broken this time the longest e.u. summit in history is within arm's reach. let's go through this with your correspondent terry scholz who is life and brussels sherry news has just come in that the e.u. leaders have reportedly agreed on linki

the e.u. commission has 2 months time to decide if it wants to challenge the ruling in the news highest court the core of the problem is that the e.u. does not have one common tax code at the moment firms officially pay 12.5 percent corporate tax in ireland that's compared with the e.u. average of 21.3 percent officially companies in germany have to cough up at least 30 percent. that alone has attracted many companies to ireland and in fact apple paid far less tax at times for example as little as 0.005 percent in 2014 when the tech giant paid just 50 euros tax on every 1000000 euros in profit. it's the 2nd ruling that the e.u. commission has lost last year the institution lost a case against starbucks which was accused of owing $30000000.00 euro's impact taxes to the netherlands it also shows how difficult it is to crackdown on cases of alleged corporate tax avoidance. i'm joined here at the big table now by my colleague clifford cooney from b.w. business so apple the irish government won in

the front ally of the e.u. commission president in charge michel the e.u. council president will chalk this one up as a victory they got a deal done when a deal well needed to be done otherwise the consequences weren't really worth thinking about if there was no budget in place that's one thing but if there was no corona recovery fund in place we could see some serious problems or perhaps even a return to the darkest days of the financial crisis of 2008 and the resulting euro crisis this will also be chalked up as a big window for those frugal nations the frugal we're going to call them we can add a number they seem to be growing week by week so fast you could see the austrian prime minister praised his other members of that group and said that this was a good result i think we'll be hearing more from the frugal group this well as as the european air discussions continue over how they get out of the problems they're facing over corona and of course i think we'll see it in future negotiations as well. the latest on financial matters coming out of the europea

can be expect a reset of sorts of relations between the e.u. and the united states. that is not really on the currents because more or less what the european union is doing they are looking at washington and hoping that the pain might pass while as the majority of european leaders hopes and looks forward to 2 the elections in november and things there might just be a change in the white house and everybody is sort of betting on that it seems relatively hopeless after all we have seen during the last months and years to further try to engage with was president donald trump if if we know now the way he's talking about anglo-american the way he is had tacking her personally over the telephone once to to get in contact the the recent details that have emerged in washington it makes your hair stand up and it more or less seems that nobody is really looking to washington that they say we have to sort of get find or strains with each other and within the european union and sort of link arms flows lee and hope for a better future not coming to you or not to speak about what

the whole thing may have been close mccrone says the deal they reached will help all 27 e.u. nations. i am convinced that there is a plan this budget resumed and you could have avoided economic and social challenges be able to move aging in our countries. it was a long fight 4 days of negotiations brought significant divisions to light but the deal stands and now everyone can go home. after war now we are joined by yanis a man you are lead to see is the director of studies at the european policy center think tank thank you so much for joining us this morning how groundbreaking is this deal for the e.u. . i think this is a very important deal it was a hard fought deal but it comes to one of the worst crisis which the european union asparagus states have ever seen were still the beginning of the code with 19 prizes you needed to have an agreement on the multi-channel financial framework you needed to have an agreement on the recovery fund in order to showcase that you are collectively able to deal with all of the multiple consequences of this crisis just imagine for a minute if

the e.u. has opened its external borders still asia and business travel survey but not all countries coronavirus hotspots including the u.s. and russia were excluded from the so-called safe list of countries. and into the block australia japan and south korea did make the. child is travelers 10 also and to have but only off to china opens its own borders so it's a difficult summer it's proving to be for tourism dependent businesses in europe with more e.u. residents choosing to stay close to home. and this is due to every news here's a reminder of the top story at this hour while on companies have used was a candle to disperse activists protesting against the new security law imposed on their territory by beijing more than 30 obrist split raise. revenues don't forget you can keep up to date on our website stats t w dot com i'll be back at the top of the next hour with join me if you can't otherwise from good have new company about. combating the corona pandemic. where does research stand. what

another day of deadlock in brussels as the e.u. leaders remain divided over how to implement a massive pandemic recovery package. hello i'm daryn jordan this is down to 0 live from doha also coming up coronavirus cases in colombia saw medical workers call for lockdowns to be reimposed to bring infections under control. he shined a charter with bernie sanders let me tell you nothing about the funding all really it says abolish it says of let's go all right you get me that you're out of place in his 1st t.v. interview in a year the u.s. president has challenged on his handling of coronavirus and anti-racism protests and the show must go on the tough year ahead for hollywood production under a pandemic will mean higher costs and longer waits for movies and t.v. shows. deadlock and division are gripping the european union right now as its leaders struggled to compromise on a major economic rescue package for 3 days straight member states of failed to agree on the blocks financial future at stake is a budget of $2.00 trillion dollars th

what is through the e.u. council presidency and the presidency in the un security council only very few americans know the difference they're far too occupied with own problems here in that country if anything they want germany to pay more to nato but that's the only thing which messes here in washington the united states of america. more into nato the constant refrain from the united states correspondent a political correspondent i'm starting to. brussels correspondent. with me on the line bob would like to come to you 1st let's just pick up on what ines was reporting germany should be paying more into nato that seems to be the one line that seems to define the relation between the e.u. and the united states i was looking at a change during germany's presidency. you know the horrible thing here really is that all this is a huge misunderstanding i mean nato is not a club where you have sort of like a common kitty and everybody has to sort of throw some money and nato is in the lines of defense alliance for ev