eu meltdown? >> if it's growing, it's harder do what we need to do for the l middle-class. >> president obama this week was in france for the g-20 summit, which focused on greece. greece is debt ridden, and the 27-member eu is insisting that greece pay back 50% of that bank debt. this week greek prime minister george papandreou called for a referendum to ascertain what the greek people think about taking this major loan. the eu told the prime minister to drop the referendum idea where upon the prime minister then decided to drop the referendum. question, is there any reason to believe that this greek pass work? >> no, john. they wrote down 50% of their bank debt but also got an austerity plan and papandreou says we're going to let the greek people vote on whether they want this -- they would have voted it down. they would have gotten no money. >> why? because the greek people is a p democracy is killing the new world order. when people vote on the treaty, constitution in europe or the brits get to

investors are increasingly worried about what they see as a threat to the latest eu agreement. the dow closed the day at 11,657. that is down 2.5% from monday. sources say investors are closely watching what will come out of papandreou's meeting with the french president and the german chancellor. the benchmark stock index in paris plunged more than 5%. in frankfurt, the key index dropped 5% even while the london market saw a decline of 2%. >>> now let's get a check on tokyo markets. to see how things are kicking off here we go to ramin mellegard at the tokyo stock exchange. markets were upbeat last week on the good news and now the same concerns are back again. how are stocks here reacting in tokyo? >> exactly, ai. very good morning to you. and this latest twist by the greek prime minister to put the latest bailout for greece to a referendum speaks volumes in the markets about greece's plans and efforts to really come through after that agreement was made in europe just last week. let's have a look now at the reaction for the nikkei and the topix. you can see there, pretty neg

the eu, however, gave no safety evaluations. the eu unveiled a preliminary report on thursday after compiling accounts from 14 member countries that were created based on self-assessments by plant operators. the report concludes that no nuclear plants in the eu need to close immediately. but the eu makes no safety assessments as the format and content of the national accounts vary substantially. the tests checked whether the reactors can withstand the effects of a major earthquake, tsunami or other natural disasters as well as survive possible accidents such as a plane crash. the eu plans to draw up a final report by next june after a peer review by member states' nuclear regulators. >>> about 150,000 people in japan are waiting to hear one simple thing from politicians and nuclear experts. it's safe to go home. they fled towns and villages surrounding fukushima daiichi after the earthquake and tsunami crippled the power plant. the damaged reactors are supposed to be in cold shut down by end of the year. there is no telling when

eu president rompuy and barroso made the announcement on friday. italy is under heavy pressure to stabilize its finances and contain the european debt crisis so it's agreed to undergo checks from imf analysts every three months. the italian government planned to announce restructuring its finances at an eu summit last month. italian leaders plan to proceed with restructuring under eu oversight. the imf chief highlighted the need for monitoring. >> the problem that is at stake and was clearly identified both by the italian authorities and by its partners is a lack of credibility of the measures that are announced. >> italy hopes to restore market confidence by accepting imf help, too. italy's economy is the third largest in the eurozone. >>> leaders of the group of 20 nations have welcomed the european union bailout package for greece and other debt-ridden countries. the bailout package is aimed at preventing the european credit crisis from seriously disrupting the global economy. the leaders of advanced and emerging economies concluded their summit

supporting her vision of giving the eu greater powers to control national budgets and times of crisis. the three leaders have agreed on changes in the eu treaties. >> it is about overcoming step- by-step design flaws in the euro zone debt to rise from the fact that we do not have the political union. that is why my position has not changed at all since yesterday. >> italy's new prime minister promised to pursue a strict austerity cause. nicolas sarkozy, appeared to distance himself from earlier french demands for the european central bank to continue buying up sovereign debt. >> we all stated our confidence in the ecb and its leaders. we must refrain from making demands, whether positive or negative. >> leaders must convince the rest of the euro zone to accept stricter in debt policies. >> no agreement on the condition of the euro bonds. what does the future hold for the euro? we put that question to our brussels correspondent. >> it is hard to see. we have that many of those meetings. the focus on the attention is early december, when there is another summit of the 27 euro leaders. t

if he threatens to pull out of the eu, what does that mean? >> it matters to us here in the united states because the eu is our biggest trading partner. if gest defaulting on its debt, it can drop out of the eu then the entire european union financial system could start to unwind. gotta remember ireland is part of the problem. italy is part of this problem. spain, portugal, a lot of problems. we're also already seeing the poison fruits of this uncertainty at work in our own financial system on our own shores. on monday, the bank, mf global filed for bankruptcy. this is the bank headed by jon corzine, former governor of new jersey. now, he was betting with their financial calls that there was going to be a bailout in europe. he was heavily in debt. they were buying bonds from the eu with the debt. hasn't happened. the company went belly up. as a result, we've seen bank stocks take it on the chin this week because of the investments overseas. the market doesn't know if there are other investments out there. we don't have a sense of whether the b

eu fiscal rules before their governments approve them. the plan will also allow the eu to ask nations to balance their budgets if necessary. >>> and now let's get a look at the markets. stock prices opened lower in tokyo this thursday morning. the nikkei is currently trading at 8,422, down 40 points or nearly 0.5%. the topix also down 0.4%, currently 721. sell orders are being placed on export-related issues such as autos and machine ris. sony again posted a new low for this year. toyota also opened lower. sources say that concerns over the european debt crisis remain strong as the yield of italian ten-year government bond remains high. in the currency markets, the dollar is slightly stronger against both the euro and the yen this thursday in tokyo. currently the greenback is trading at 77.03 to 04. that's against the yen. the euro versus the dollar is fetching 1.3427 to 3430. sources say that demand for the dollar is on the rise as euro zone debt worries mount. higher yields of french government bonds are making the euro weaker against t

the eu, however, gave no safety evaluations. the eu unveiled a preliminary report on thursday after compiling accounts from 14 member countries that were created based on self-assessments by plant opats. the report concludes that no nuclear plants in the eu need close immediately. but the eu makes no safety sessments as the format and content of the national accounts vary substantially. the tests checked whether the reactors can withstand the efctof morarque, tsunami or other natural disasters, as well as survive possible accidents such as a plane crash. the pnso awp fil report by next june after a peer review by member states' nuclear regulators. >>> china says it's willing to ease restrictions on japanese food imports. n s ac bau o radiation concerns following the fukushima disaster. the chinese government said on thursday the easing would include imports of sweets, liorndome processed foods, but approval will come with conditions. products must be processed outside fukushima, tokyo, and eight other prefectures located near t

this comes after they agreed to implement the eu bailout package sunday. as talks continue into tuesday, sunday's agreement will see prime minister george papandreou stepping down to pave the way for a coalition government. greek television reports the candidates for seat of prime minister have been narrowed down, but disagreements remain over details of a general election reportedly planned for february. also, the two sides have yet to agree on the number of cabinet posts to be given to the opposition camp. >>> the french government will raise taxes to help the country's fiscal help amid the debt crisis in europe. the prime minister announced a new package of austerity measures monday. the move came after the government revised down the growth forecast for fiscal 2012 from 1.75% to 1%. >> bankruptcy is no longer an abstract word. it will take a long time to recover fiscal health. the burden is necessary. >> the package includes tax hikes and spending cuts amounting to 7 billion euros. about $9.6 billion. these measures are aimed to slash the deficit to 4.

this comes after they agreed to implement the eu bailout package sunday. as talks continue into tuesday, sunday's agreement will see prime minister george papandreou stepping down to pave the way for a coalition government. greek television reports the candidates for seat of prime minister have been narrowed down, but disagreements remain over details of a general election reportedly planned for february. also, the two sides have yet to agree on the number of cabinet posts to be given to the opposition camp. >>> the french government will raise taxes to help the country's fiscal help amid the debt crisis in europe. the prime minister announced a new package of austerity measures monday. the move came after the government revised down the growth forecast for fiscal 2012 from 1.75% to 1%. >> bankruptcy is no longer an abstract word. it will take a long time to recover fiscal health. the burden is necessary. >> the package includes tax hikes and spending cuts amounting to 7 billion euros. about $9.6 billion. these measures are aimed to slash the deficit to 4.

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the eu and the imf had to rescue hungary in 2008. budapest has been regularly criticized for not doing enough to cut spending. we go to syria. it is the opposition's strong as show yet of firepower -- strongest show yet of firepower. soldiers attacked a military checkpoint. attacks in the capital have been rare since the uprising began. >> a group calling it a free syrian army has launched a campaign against the regime -- itself the "free syrian army" has launched a campaign against the regime. they carried out attacks on wednesday, including against homs. the authenticity of this footage cannot be independently verified. the regime does not allow international media into the country. a member of the free syrian army explained why he had gone over to the opposition. >> as a result of the continuing acts of oppression by the assaad regime. we declare our defection from the baathist army. >> this amateur video is said to show protest in hama. mahler images are coming out of other cities. the un -- similar images are coming out of other

this comes after they agreed to implement the eu bailout package on sunday. as talks continue into tuesday, sunday's agreement will see prime minister george papandreou stepping down, to pave the way for a coalition government. greek television reports the candidates for the sino prime minister have been narrowed down but disagreements remain over details of a general election reportedly planned for february. also, the two sides have yet to agree on the number of cabinet posts to be given to the opposition camp. >>> eurozone finance ministers have agreed to compile concrete measures to boost an eu bailout fund by the end of this month, to help member countries mired in the region's debt crisis. finance chiefs from the 17 eurozone countries reached an agreement on monday at an eu meeting in brussels. the ministers also agreed to implement the measures of the eu bailout fund known as the european financial stability facility next month. on greece's debt problems, they welcomed the agreement between the country's ruling and opposition parties to launch a new coa

angela merkel wants more power for the eu. so that brussels can enforce fiscal discipline. david cameron wants to clawback powers from brussels and he is very nervous of the can of worms that any treaty changes could open up. angela merkel wants the financial transaction tax. david cameron says that would cost u.k. jobs. he says the ecb should be supporting the euro. angela merkel says that would cause inflation something to which the germans are allergic. differences on a number of areas. david cameron cannot take the lead because his country is not in the euro zone. the fate of the euro is being decided day-by-day on the financial markets. >> neo-nazis and terrorism were on the agenda here in berlin. it was a mix of damage control and strategy making. intelligence agencies have come under heavy fire this week after revelations that a neo-nazi group was able to carry out murder and bombing attacks for over a decade. " the government outlined the broad strokes of berlin's newest strategy to tackle the far right. the news came after a meeting of senior officials. a similar d

the eu cuts its growth forecast for the year ahead. all eyes are on germany as it comes under pressure to provide all euro zone bailout funds. the hunt goes on for the major league baseball player missing since wednesday. a refugee camp is bombed in south sudan. it is 10:00 in singapore. >> it is 2:00 in london. >> the damage inflicted by the european debt crisis is -- has been made all too clear. the eu has announced a drastic reduction of the forecast of growth for next year. the senior eu commissioner has warned that stalled growth raises the prospect of a new recession. >> we did not have to travel far this afternoon to find concern, anxiety about what is happening in europe. >> in the middle of a crisis and i am worried about my salary, my mortgage. >> a further along the road, the commission. inside, the top euro official. >> i am looking forward to the day when i can bring you some good news. >> and not today, though. >> this forecast is the last wake-up call. the recovery has come to a standstill. there is a risk over a new rec

a new eu regulator. we are expecting to limit or reduce the reliance on these agencies, especially in europe. more transparency. perhaps more important some would say, a penalty for misconduct by these agencies. this could all open the dialogue for an alternative. listen to this one. >> [speaking foreign language] >> i believe this will start the discussion again that an independent european ratings should be founded, which would give an alternative to the american ratings agencies, which are dependent on private enterprises. >> richard branson. >> he's very good with his german. little mistakes there. we should get that ruling in a few hours. some airline news. shares fell today after it warned of a significant loss for the current financial year. we are talking about the singapore budget carrier. also, high fuel costs is really hurting tiger. it's not all gloom in the airline sector. the european low-cost carrier has reported a 32% rise in full- year profit. it made almost $400 million. more passengers

is this another example of eu not being able to coordinate its policy?i am frustrated about the situation of brussels in this case, because brussels is not able to announce what the position is that the european union. there is so much national influence on this question. there is the need for one european voice in this, but this voice does not exist. >> chancellor merkel and westerwelle have said it is part of germany's identity. what does this actually mean? >> germany's one of our most important parts, how we see for policy and now we see germany's role in the world, that we stand united with israel. that means for the future that by the situation of america and of the american president that germany's days closer with israel than it was before. and we would have to take more responsibility on the issues of israel. that means that we are no longer neutral or a moderator in this situation. we stand clear on the side of israel. >> we will also be taking an in- depth look at the palestinian statehood later in the program. german authorities are investiga

eu leaders want the commitments before they release the proposed aid. he stressed to the party leaders the importance of complying with teu request. >>> e gyp shon s >>> egyptians protesting against the country's military rulers are calling for a large scale demonstration. they're demanding the dissolution of the military council that provisionally governs the country. since the violence erupted on friday, 23 people have died and more than 1,900 have been injured. protesters are using the internet to call for dissolution of the military council and its political powers be passed on to a new government. clashes have spread from cairo's central tahrir square to outlying districts where demonstrators are blocking alleyways and hurling rocks. the military council has deployed troops to defend key government buildings. a military commander says he will not forcibly push out protesters are who holding a peaceful demonstration. on november 28th, egypt will hold its first parliamentary elections since the ouster of former president hosni mubarak after 30 years

russia is belarus' me friend as long as belarus is isolated from the eu. the country's political independence could still change. >> now for space exploration news. >> awesome. it is nasa's latest mission to mars. at cape canaveral on saturday -- is cargo at $2.5 billion mars science laboratory and march rover which is caused curiosity. >> after a nine-month journey to the red planet, the probe is program to descend to a specific landing spot where it will deploy. curiosity has the most advanced scientific payload ever used on mars and weighs five times more than its predecessors. for the next 23 months, it will broadcast martian weather reports back to worth, monitor climates, and explore the surface of the planet. and an onboard laser will analyze the chemical makeup of stones on the surface. the two-meter long robotic arm -- the instrument head has a drill that can penetrate into lower-level rocks. it is all part of the quest to answer the age-old puzzle of whether there has ever been any life on mars. the curiosity mission will also pioneer precision l

italian leaders agreed to proceed with restructuring under eu oversight. italy hopes to restore market confidence by accepting imf help, too. italy's economy is the third-largest in the euro zone. >>> president sarkozy and the other g-20 leaders spent much of their two-day meeting focused on greece. the leaders were eager to coordinate efforts to keep the credit crisis in europe from spreading. european union leaders worked through the night before the summit's opening on a new financial aid framework. the greem prime minister george papandreau surprised them by announcing a referendum on the debt deal. this put the scenario in question. countries outside europe urged france and germany to stand firm. president sarkozy, the host of the summit personally put pressure on greece. >> translator: if these rules are not respected, neither europe nor the imf will be able to transfer the funds. c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c yoshihiko noda urged e

. >> of the eu looks on nervously as italy moss -- italy's new man in charge struggles to save the country from crisis. >> government officials are expressing concern and dismay over a series of murders here in germany linked to right-wing terrorism. of turkish origin or shot dead in separate attacks across the country. believed to be connected. the fourth suspect was delivered to germany's highest court. the presiding judge issued an arrest warrant based on evidence demand aided and abetted the terror cell. the 37-year-old lived in a small town. he was known to police, but had members of the seller received support from a network of neo- nazi sympathizers. there are growing calls for. germany's interior minister has pointed to obstacles. ban would have to come from the court, and in communications with informants on the inside. >> as more evidence of the activities comes to light, there is mounting criticism of germany's domestic intelligence services. >> there were some question marks indicating that once again, a public institution was blind to what was happening on the four why french

creation of a road map for new legally binding framework to cut carbon emissions. >> the eu is openo the kyoto protocol playing an important role in the transition towards a global comprehensive and legally binding framework for all. the negotiations of this framework should start immediately and be completed by 2015. >> reporter: the reaction to the eu proposal varies from nation to nation. countries affected by climate change say delegates in durban should agree to set up a new framework as well as to extend the kyoto. >> despite the clear imperative for urgent and immediate action, some parties appear ready to turn their backs on the rest of the world, proposing that we again delay a new protocol and more ambitious reductions. we don't accept that. >> reporter: the first round of negotiations here in durban shows there is still a gap between countries on what to do beyond 2012. delegates need to come up with a breakthrough in these talks or the only decision they'll come away with is the location of their next meeting. >> nhk world's susumu kojima in durban, south africa. >> next

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members, one reason the eu has never been the definition of agility.t badly needs to be. the bigger question, can the less dynamic economies of southern europe be made to behave like industrious germany? if not -- >> the core countries will say that was the best shot we had. these people are just not going to do what they're supposed to do. we're not going to allow the european central bank to print money to bail them out. we're not going to change our own policies. actually one way or another we'll have to dismantle this. >> reporter: if the euro zone can be saved by binding its members tighter together, what about the eu members, britain, poland and sweden that never adopted the single currency. they'll be even more out of step. the euro may survive but the european union may begin to fall apart. cnn, atlanta. >>> a week before parliamentary elections in spain, protesters are back on the streets and young people are among the most frustrated with the current system. we'll look at what they want from the next government when we come back. >>> gold is

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papandreou announced on monday that greece would hold a referendum on the eu debt deal. his cabinet approved the plan on tuesday. but opposition parties have demanded general elections instead. it remains uncertain whether papandreou's government will survive a vote of confidence scheduled for friday. the eu had originally planned to present the rescue measures for greece on thursday at the g-20 summit in cannes. the aim is to gain understanding of the other countries taking park. >>> wikileaks founder should be extradited from britain to sweden to answer to sex crimes allegations. assange was arrested in britain in december of last year on suspicion of sexually assaulting two women in sweden. the swedish authorities issued a warrant for his arrest. on wednesday the london high court upheld a lower court decision to transfer him to sweden saying the swedish judgment cannot be said to be disproportionate. assange is considering an appeal to the british supreme court. >> i have not been charged with any crime in any country. despite this, the european arrest warrant is so

he told leaders the new government will do its best to take action as other eu countries expect. borosso said the world is paying close attention to what italy does and says he is confident the nation will work to ensure reforms are carried out and added that the eu will send a team of inspectors to rome to monitor the country's efforts. >>> the u.s. has released numbers on the economy. the economy did grow, but at a slower pace than expected. the commerce department said tuesday the country's gross domestic product increased by annualized rate of 2% in the third quarter. that's down .5% from the preliminary figure released late last month. private consumption grew 2.3%. that's 0.1 percentage points off the estimate. corporate inventory that tracks activity of manufacturing sector grew 14.8%. that's below the preliminary figure of 16.3%. >>> in tokyo, more than 5 million people were stranded after the march 11th earthquake. japanese officials in charge of natural disaster measures are now putting pressure on businesses to be more prepared. a cabinet office survey found more than

he believes a referendum is the only way to overcome the resistance to the eu debt rescue package. but the idea of spending cuts and tax increases is unpopular, and there is a possibility the greek government could collapse before a referendum is held. with the chinese president on his way to the g-20 summit of global leaders, beijing has pledged support to the european union and efforts to maintain financial stability. >> china consistently places leap -- importance on the euro and the eurozone development and always believed the eu has the ability to resolve, difficulties. no matter as it is now, in the past, or the future, china will always be an important investor in the european financial market. >> the g-20 meeting in cannes is in a state of some confusion before it has begun. the french and german government thought they had an agreement to save the eurozone. but last night, president sarkozy said the greek decision to hold a referendum surprise all of europe. it all adds up to renewed uncertainty. that is something the market to dread. bbc news. >> we have approved yesterda

papandreou suddenly announced on monday that greece would hold a referendum on the eu debt deal.is cabinet approved the plan on tuesday. but opposition parties have rejected the plan demanding general elections instead. it remains uncertain whether papandreou's government will survive a vote of confidence scheduled for friday. the eu had originally planned to present the rescue measures for greece on thursday at the g-20 conference in cannes. the aim is to gain the cooperation and understanding of the other countries taking part. >>> london's high court says wikileaks founder julian assange should be extradited from britain to sweden to answer sex crimes allegations. assange was arrested in britain in december of last year on suspicion of sexually assaulting two women in sweden. the swedish authorities issued a warrant for his arrest. on wednesday the london high court upheld a lower court decision to transfer him to sweden saying the swedish warrant is not necessarily unfounded. assange is considering an appeal to the british supreme court. >> i have not been charged with any cr

papandreou agreed to resign following his unpopular proposal on a referendum on whether to accept the eu package. papandreou said greece faces a serious financial crisis that can be resolved through cooperation and a dialogue. he also indicated that his government will accept the eu bailout plan. >> we hope with a new prime minister we will have a better outcome of the xhexal economical situation in greece. >> nhk's reporter in athens says the new cabinet needs to maintain a stable government as political turmoil in greece has further deepened the european debt crisis. >>> european leaders have welcomed the national unity government in greece under the new prime minister papademos, saying it will be opening a new chapter for recovery from the crisis. european counsel president and the commission president manuel barroso issued a joint statement on thursday. the two presidents stressed the importance of greece's new government sending a strong message to its european partners. they said that papademos' new administration must show a firm commitment to carrying out fiscal reform and debt r

ality an eu u.s. summit that starts today. barack obama is hosting european president at the white house where the region's financial woes no doubt will dominate proceedings. >> we've seen plenty of rises an falls on stock markets in recent weeks and month, but mostly falls amid all the volatility. as each day passes without resolution to the european debt crisis, global concern gross really now that everyone is concerned about europe and the european debt crisis. joining us is michael hewson. is that to be sustained or do you think it could carry on all week in anticipation of decent jobs numbers on friday? >> you summed it up nicely when you said europe is front and center. on that basis alone, i think irrespective of what the job numbers are on friday, i think they'll play second fiddle to what's happening in europe. the imf story, 600 billion euros. christine lagarde said the emergency fund only amounted to 285 billion euros. where are they getting the money from? essentially where is the money coming from? they don't have

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former eu commissioner mario monty is expected to take over for silvio berlusconi. monti would lead a unity government charged with tackling italy's debt crisis. >>> a u.s. soldier has been sentenced to life in prison by a military court. calvin gibbs was found guilty of murdering three afghan civilians. three members of his unit had already pled guilty. gibbs was accused of cuts off pieces of the corpses to keep as souvenirs and planting weapons to make it look as though the men were taliban fighters. gibbs will be eligible for parole in ten years. >>> in the turkish city, 28 people have been pulled alive from the rubble after a deadly earthquake wednesday night. rescue crews worked throughout the day, thursday, to reach people still trapped. dozens more may still be buried. the government says 260 survivors have been taken to other cities. the death toll stands at 12. >>> the murdoch media empire has been compared to the mafia. he said they adopted a code of silence surrounding the phone hacking scandal. murdoch rejetted the allegation when he appeared before mps

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in one corner, eu leaders still reeling from the shock of an eu bailout. in the other, george papandreou needs support to secure his political future and get greek back to work as he pushes ahead with painful austerity measures. investors were certainly rattled by the developments in greece. asia-pacific stock markets continued their slide. also adding to the market jitters. japan's nikkei was dragged down by the automakers such as toyota and honda which both reported lower u.s. sales in october. the stronger yen also means that japanese expects are less competitive as auto sector stocks were off 3% to 6%. hang seng is up about 2%, the shanghai composite up about one-third. they both recovered to finish higher in the session and australia down after significant drops in mining stocks. japanese electronics giant sony also released earnings for fiscal second quarter. the news, though, not happy. a net loss of 27 billion yen, that's about $345 million. the company blames lower lcd tv sales and of course that stronger yen that i just mentioned. sony was late t

this is taken on a referendum on whether you want to stick around in the eu or not.can see some return on their investment. you are absolutely right, this is a crisis, but one that this morning we heard from president obama and from his spokesman who said this is an internal greek problem. this is a greek political crisis. we're not involving ourselves in it. it's not an internal greek problem. it may be caused by greek politics, but if something goes bad in greece today, we'll all feel it around the world, christine. >> years ago when i covered the beginning of the eu, you know, the whole idea of a euro and a currency they'd all share. the uk said, no, thanks. we'll keep our pound. >> that's right. >> interesting that some of those early fears from years ago in the early '90s are turning out bearing fruit today. thanks ali. >>> morning headlines next. it's 45 minutes after the hour. [ ron orsini ] osteo bi-flex has been incredible for me, and i swear by it. [ male announcer ] osteo bi-flex with 5-loxin advanced™. shows improvement in joint comfort within 7 days. ost

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