it is the eighth rescue deal footboard by eu -- put forward by eu leaders this year alone. >> i asked our correspondent in brussels what it would mean for britain to not be in the room anymore when a big financial decisions are made. >> it basically means that britain, which is a little bit sidelined, is totally sidelined. it is a catastrophic mistake in strategy by david cameron. i think everyone accepts that. he gambled on being able to convince germany and france to give him concessions under a new changed treaty, so that britain would not suffer any extra economic finance regulations imposed by brussels. it did not work. chancellor kohl and -- chancellor merkel and president sarkozy did not blink, as it were. he is stouck. everyone has the greatest -- has to create this new architecture. there is a new fiscal code book, if you like, and britain is actually on its loan. it is a disastrous choice. -- on its own. it is a bizarre situation. i do not know if britain can claw its way back from this. this is a bit of a fisher -- fissure opening up in the european union. it changes things

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increasingly, there are signs from outside the eu and inside the eu that there is serious trouble. when people like chancellor merkel and nicholas sarkozy start saying we could be facing integration, if the euro fails, europe fails, i think they are really coming down to the wire. that is what we may be seeing here as the leaders are sitting at dinner and dinner seems likely to be going on for a long time. >> let's talk for a second. do you think the ecb has helped or hindered the process by cutting a key interest rate? >> on balance, probably help. there is no doubt this is part of the choreography of this week, which began on monday when the italian prime minister announced more austerity measures, just as part of the jigsaw that is being put together. on balance, i think it is favorable because if they cut interest rates as they have done, then theoretically, at least, it makes it easier for struggling governments to borrow on the open market. i do think that that is a little part of this whole scheme leading up to some sort of grand announcement. it may not even be this weekend

i will be right back with more on britain and the eu. >> welcome back. the eurozone crisis has shaken the architecture of the european union to its very core, raising the very real possibility that some nations may leave the currency and the longtime member britain might even lead the eu entirely. deeper fiscal integration brought britain's commitment to the eu to the fore when london last week rejected treaty changes designed to centralize economic policy. that move was branded as destructive by top-ranking eu leaders with the commission presidency in british policy threatened to break up the eurozone. but the decision by prime minister david cameron has proven extremely popular with a majority of british voters long skeptical of those doings across the channel. >> it is early morning in london, but the city is already coming to life. thousands of people are headed to the same spot, the financial district. the square mile, as it is known, generates a significant contribution to the country's gross domestic products. james center works right in the middl

the eu ranks near last. >> there is no mistaking the eu skepticism. the eu has become an even tougher sell. nobody even once a free shopping bag. >> we can see how nationals of the european countries are really struggling. >> even that the british government is stoking anti-eu sentiments. david cameron and blames the crisis on the crisis that has gripped many nations. >> people seem to misunderstand the reasons behind the debt crisis. they do not realize the eurozone as a whole is a very healthy economy. growth is higher over there and inflation is lower. they focus that a few of the member states have had problems with debt. >> for mark and other eu critics, these arguments do not hold water. they want to leave the european union. they are campaigning for britain to have a new vote on union membership. >> there are a lot of people associated with the campaign that say that this could do quite well as outside of the european union. they would cite the examples of norway or switzerland. >> they say that they want what is best for britain. at the same t

the eu suspects the deals breech antitrust law. the publishers include harper colins, penguin books and a french company. in march eu authorities conducted onsite inspections in the subsidiaries in the block. is it the first antitrust investigation in the e-book market. >>> share prizes are rising in tokyo following an overnight gain in new york. the nikkei is at 8,423. observers say that investors are buying shares hoping that eu leaders will come up with measures against the debt crisis during a summit that begins on friday. this follows standard & poor's announcement on a possible downgrade. >>> the dollar remains unchanged against the yen. the euro is now 104.09 to 15 yen. our sources say that investors are on the sidelines prior to the eu summit. >>> here is a look at the interest rates. the yield on the japanese government bond is currently unchanged. >>> brazil on emerging market is now seeing its economic growth come to a halt. the country's gross domestic product was stagnant in the third quarter. the national stock market

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it comes after eu sanctions that restrict oil production and contracts with the eu government.e says it will comply with the sanctions. >>> we take a look at neighboring iraq's lucrative oil industry and one small company that's made it big after a new discovery in kurdistan. ds. and i'm gonna need to see a receipt for that watch you're wearing. you know, you really should provide us with a checklist of documents we're gonna need up front. who do you think i am? quicken loans? at quicken loans, we provide a checklist of the mortgage documents you'll need up front. it helps keep you in the know every step of the way. one more way quicken loans is engineered to amaze. >>> iraq sits on the world's fifth largest oil reserve and now more oil is being discovered in the semiautonomous region of kurdistan. gulf keystone, established a decade ago, the independent firm ventured into northern iraq back in 2007 where it made one of the largest recent discoveries in the middle east. arwa damon takes a look at the company making it big despite all the dangers. >> reporter: it's an oil man's

we then had the eu saying there was a ten-days to sort out the eu. that deadline expires tomorrow.s this the ecb or are we likely to see the ecb taking much bigger steps today to show that they're in on sorting out a solution, to lay their hand out a bit to show they're also serious and everybody's pulling in the same direction? >> yes, andrew, we did have a bit of a hint earlier on last week from mario draghi that perhaps we could see a little bit more support for those countries like spain and italy whose borrowing costs are getting exorbitant at this point amid all of these concerns about rifts between eu members and exactly how to solve the euro zone debt crisis and the viability of a single currency. we saw hints when he gave a statement to the european parliament last week but we haven't had anything official from the ecb saying they would come in and step in significantly to support these markets should we get consensus. there have been some reports circulating that perhaps they could. we haven't had that confirmed though yet, andrew. >> we're watching that one more closely

initially, german chancellor angela merkel wanted a treaty of all 27 eu member states. that has not happened. angela merkel did not get that, but if she pleased with the new agreement to bring greater stability to the eurozone? >> yes, i think this is the right fiscal union. it is an important message to the markets. it is the second-best solution. it would be better to have the 27 member countries. the british condition was not acceptable. they ask for things that had nothing to do with this issue. now there are 26 countries on board. britain is alone. britain is marginalized. we will continue with these 26 countries. >> i will ask about britain's position in a moment. have you done enough to satisfy the markets? it will take quite a long time to get the actual changes agreed to. some of them will likely have referendums. there has also been a move to boost the bailout fund, as well. do you think there are enough funds going into this to convince the markets is serious -- markets it is serious? >> and so that is totally, legally solved -- greater stability in the marke

ramin, so the major focus is the eu summit in brussels now. how are the markets reacting to this. >> very good morning to you, ai. let's go straight to the levels. opening levels for nikkei and topix, you can see the immediate impact. both indexes trading lower. 146 points down for the nikkei. we are definitely seeing follow through selling in japan after the dow closed below that key 12,000, down almost 200 points. and the negative sentiment from stocks also showing through on developments from the european debt situation in commodities. we did see gold down 1.8%, and the price of wti benchmark crude oil also down more than 2%. the interesting point here, ai, is that with all the focus on europe and selloffs in the stock markets, it is just coming actually when data in the u.s. is showing small improvements in the jobs data. we had weekly claims numbers just out thursday, which showed an improvement and showing its lowest level since february, and just last week, the unemployment rate in the u.s. fell below 9%. so a lot of focus here on devel

it will require approval by the eu nations to resolve a treaty. the process is expected to take time. merkel is meeting with french president, nicolas sarkozy, about the eu. she says it needs better financial discipline if it is supposed to survive. sarkozy said the crisis facing the euro currency requires a structural response. he wants to rebuild the foundation. he noted a revision is necessary to address european credit uncertainties. he also said deciding issues with the majority rather than a unanimous vote would promote faster decision-making among eu members. >>> christmas season is in full swing in japan and the stores are glittering with festive decorations. thee are simple designs that come with an inspirational story. all the decorations were made by a group of women who lost their jobs to the march 11 earthquake and tsunami. on the road ahead we look at how these ornaments help the women overcome their loss and dispair. >> this area was deaf stated by the march tsunami. in this district, 80% of fishing boats were swept away. the local

that enterprises will not face any new eu regulations at all. will he fight for british interests? yes. there is the option of the treaty at 27 where we have the ability to say yes, or know. as a result get -- pay the price. there is a possibility that the eurozone members will form a treaty of their own. we have some leverage in that situation because they need to the use of eu institutions. we should recognize what our leverage is and make a motion. >> thank you. the prime minister's manifest a promise to repatriate social legislation is article this morning expounded on all of these issues. does the prime minister regret leading his party up the garden path? >> what i regret is that the party opposite gave away so many powers. it will take it like -- a while to get some of those back. when he was in government, there were repeated increases in the you budget -- the eu budget. we had to pour billions of pounds and to other countries. now we have those powers back. we can help clear up the miss that the labor party has left us. >> mr. speaker.

and the eu's carbon trading scheme has made headlines in a 1 million euro fraud case.rankfurt court convicted six men in what is the biggest crackdown on emissions-related tax crimes since europe launched its cabin trade system in 2005. >> four the six accused confessed to the tax fraud using the eu emissions trading scheme. in a complex complex, they bought carbon emissions of its abroad and then resell them in germany using bogus companies. there were then resold to other eu countries. the goal was to defraud taxes on a grand scale. the carbon emissions permits were bought in other eu countries where they were not required to pay tax. they were then sold in germany with an added sales tax. but instead of paying that tax to the authorities, the company pocketed the money and disappeared. the firm that bought the permits then sold them abroad and reclaimed the tax from the german authorities as a refund. the court said the fraud cost the german tax office 300 million euros, but the men on trial only received 2 million euros. most of the money is believed to have gone t

it will require approval by the eu nations to resolve a treaty. the process is expected to take time. merkel is meeting with french president, nicolas sarkozy, about the eu. she says it needs better financial discipline if it is supposed to survive. sarkozy said the crisis facing the euro currency requires a structural response. he wants to rebuild the foundation. he noted a revision is necessary to address european credit uncertainties. he also said deciding issues with the majority rather than a unanimous vote would promote faster decision-making among eu members. >>> christmas season is in full swing in japan and the stores are glittering with festive decorations. thee are simple designs that come with an inspirational story. all the decorations were made by a group of women who lost their jobs to the march 11 earthquake and tsunami. on the road ahead we look at how these ornaments help the women overcome their loss and dispair. >> this area was devastated by the march tsunami. in this district, 80% of fishing boats were swept away. the local i

attempt to get all 27 member states to change the eu treaty have failed. stock markets remain in misery as investors wait for an announcement from brussels. in asia, all the main indexes are down an american spy plane, iran says, down to the unmanned drone of near the border. violence at virginia tech. the site of the deadliest campus chuted four years ago. >> broadcasting here and around the world, this is newsday. >> make sense of international hello once again. about 15 minutes ago we received news that the european union leaders are still debating potential changes to the eu treaty, but the news is -- the non-zero nations, news at bbc.com/news. -- the non-zero nations, there are 10, -- that least 17 nations that use the common currency to go it alone. there are fears there could be a two-track europe with france and germany are leading the way. treaty changes are being discussed by the european council. they are trying to persuade the nation's they do not need to change the eu treaty, the protocols currently exist that would allow them to make changes

these were required by the eu for further financial support. however, greeks are protesting the additional measures, as they are already suffering from a series of tax hikes. more public protests are expected. next wednesday, parliament will vote on a budget plan for the next fiscal year that will include further cutbacks. >>> the u.n. meteorological agency has urged industrialized nations to help developing ones improve their weather forecasting capabilities. this would allow them to better prepare for natural disasters. the agency made the announcement at a news conference in durban, south africa, where the u.n. climate talks are under way. the secretary-general of the world meteorological organization, michel jarraud, said that abnormal weather linked to global warming has caused droughts and floods throughout the world. many countries have been badly damaged. jarraud said that some 70 countries around the world, mostly in africa, remain vulnerable to natural disasters because they lack basic weather monitoring equipment, such as rain or win

germany and france initially proposed revises the eu treaties but failed to bring all the eu members onboard. now the eu will aim to conclude a new accord by 23 nations, including all the 17 eurozone nations that are playing their central part. >> translator: prime minister cameron asked for something we all considered as unacceptable in order to change the eu treaties. >> the european union nations have also agreed to extend up to 200 billion euros in the international monetary fund trying to beef up the rescue fund to help debt strapped countries ride out the fiscal crisis. by providing loans to imf, they're hoping to get returns from countries such as emerging economies. this eurozone crisis is having a spillover effect across the eu. members that don't use the eu are struggling because foreign investment drying up. >>> japan says it could ease restrictions on u.s. beef imposed eight years ago due to mad cow disease. the mood prompted by a worldwide cases including in the united states. japan banned imports of all u.s. beef in 2003 after a case of mad cow disease was detected in t

lot of my friends in eu get all concern because of china. so i remind them india was the largest economy in the world then. >> you lived in india ten years ago. how do you feel things have changed? >> i feel r i feel indians in general not only the business leaders have become more self-confident. but the country will go nowhere without enough employment opportunities for its population of 1.2 billion. indian economy should be following the robust growth paths was the people's mind-sets that are changed to put the market on the right track. >> thank you for your insight, hiromi. >> now let's get your recap of the latest market figure. >> and that is the latest in business. >>> the humble book seller cuts a less cut these days. people are reading fewer. and fewer reading them on paper. a book seller in tokyo hopes to draw readers by offering something customers can't find just anywhere. he's digging into the past to do it. >> now officially open. >> reporter: you don't often see this much fanfare around older books. this shop opened in centra

national and eu leaders hurried from one summit to the next. yet even before one crisis here has ended, another one seems to be living. the imf managing director fierce 2012 could see the worst global slump since the great depression that kicked off in 1929. the strain of sovereign debt continues to weigh on the mood in europe, but what about germany? will all the eu summitry be enough to end the debt crisis in 2012? >> the results achieved at the brussels summit in december and share that all eurozone states will enshrine debt ceilings in their constitutions. that is an important first step. >> regarding budgets and that, i caution against thinking you just have to flip a light switch. people think lights will come on and that will not be a problem anymore, but everyone knows once you have overdrawn your account, the problem cannot be fixed overnight. >> putting this huge burden on the shoulders of italy and greece raises the danger that society in those countries will break apart. >> afghanistan has other concerns. nato has been waging war ag

and french president nicolas sarkozy are coming up with a joint plan for significant changes to the eu treaty, which governs the eurozone. in a moment, we will go to berlin and begin our coverage with this report. >> the latest message is that it is really time to think big on the euro crisis. another summit loans. the key figure says the eurozone -- she warned the crisis will be a long haul. >> [speaking foreign language] >> there are no easy fast solutions. the apparent one last push. >> the resolution of the euro crisis will take years. >> french president nicolas sarkozy delivered his own somber message. he said the french and germans need to agree on the eu treaty. >> [speaking foreign language] >> france is fighting with your money for a new treaty. more discipline, more solidarity. >> the eurozone storm is threatening to batter the vulnerable french economy and sarkozy's hopes every election next april. david cameron. in paris, he pressed for action. the prime minister is one of the leaders most concerned about the potential fallout for his own country from the eurozone's troubl

only the eu and a few others are prepared to stick with it. they only release 15% of the world's emissions. a new global treaty covering all the major polluters may not come until 2020 or even later. this afternoon, protesters tried to disrupt the conference, accusing negotiators of stalling. jostling with the police will do nothing to bother the biggest economies, china, india, and america, all worried that a treaty could restrain growth. >> the european union can make the case for a really robust and ambitious agreement. we can be supported by many developing countries. unless china, india, and the u.s. are onboard, we're not going to have a global solution. >> near the conference center, a new solar power station. many companies and countries are turning to green energy. not having an international treaty makes that hard work and the talks ran into the weekend. no one can predict the outcome. bbc news. >> the imminent collapse of their common currency, the european leaders have pulled out a rescue from their economic hat. 23 members of the

we're talking about a leaked memo from the eu council president. he says that the european commission, effectively, the executive arm of the european union, could get exceptional powers to deal with nations who have been bailed out in the past. and that could mean even approving the austerity measures perhaps in advance of them and putting forward on voting budgets on a domestic level. there could be penalties for those who fail to meet deficit targets. they could be, for instance, losing their voting rights according to this particular memo. still, the concept of shared responsibility goes further. i'll just remind you, remember how angela merkel crushed the idea of pooling the euro zone debt in the short term? according to this same memo, so-called jointly issued eurobonds could still be a long-term possibility. ultimately this signals, perhaps, some say, a major rift of control in brussels and the proposals offer the strongest hint of a powerful fiscal union that could involve pooling all of that debt, andrew? >> certainly does. just looking at

we had moody's saying it would revisit ratings of all the eu countries. and fitch expecting significant economic downturn. >>> tech stocks got hit after intel cut its forecast. exporters were weak, of course, on the european concern. one stock to tell you about today, olympus up by nearly 5.5%. there's a report that the auditors will approve the quarterly earnings report. now, they have to submit this report by thursday, olympus does, to remain lifted. if they don't, they'll be taken off the nikkei. investors confident that that's not going to happen. i want to quickly show you what's been going on in shanghai. the market down nearly 2% for the day as a fourth day of losses. the actual index is now at its lowest level since march of 2009. still uncertainty over how beijing will boost the slowing domestic economy. as we've been saying, the economy in china has been slowing more quickly than a lot of people. people expected china to move more rapidly. certainly at the moment it's a fairly negative outlook on beijing. >> a lot of concerns then for the wester

the recommendations were recommended to eu president on wednesday. the two leaders stressed the importance of cooperation among european countries at the start of the document. they said all possible measures should be taken to ensure stability of the euro zone countries so that they can overcome the current crisis. the measures include automatic sanctions to be imposed on euro zone member when is the budget deficits exceed predetermined levels. others include writing into law the goal of achieving a balanced budget in the constitution and promoting union among member nations. friends are urging a revision on the treaty based on proposals and the focus is on the outcome of the ue summit. share prices are down as investors are selling to lock in profits ahead of the eu summit. the nikkei is trading at 8,650, down 8/10 of 1%. the topics is at 746, down .5%. they are watching what measures will be worked out to ease the debt worries. the meeting is due to open later in the day. on the tokyo foreign exchange, the dollar is little changed against the yen

>> it would need a huge political will to keep the eu on the road.t seen that skill and maturity in the last few years. >> thank you so much, kirstie hughes, from oxnard university. >> dark days ahead. >>> still ahead here on "world business today," capitalizing on the growing middle class. the number of middle income earners in asia is expected to soar in the next two decades. we'll take a look at what it means for economies next. one no. and since my doctor prescribed lipitor, i won't go without it for my high cholesterol and my risk of heart attack. why kid myself? diet and exercise weren't lowering my cholesterol enough. now i'm eating healthier, exercising more, taking lipitor. numbers don't lie. my cholesterol's stayed down. lipitor is fda approved to reduce the risk of heart attack and stroke in patients who have heart disease or risk factors for heart disease. it's backed by over 19 years of research. [ female announcer ] lipitor is not for everyone, including people with liver problems and women who are nursing, pregnant or may become pregna

pnr agreement is actually -- will be with the eu; and it's the post-lisbon treaty eu, which means we've had to negotiate with the commission. we've now finished an agreement, and initialed it with the commission. we anticipate it to be improved by the council next week on the 13th, and then we will have to go and have it ratified by the european parliament. we have been the lead negotiator for the u.s. on this agreement. and one of the key sticking points has been data privacy protection, which is one of the fundamental rights in the charter of rights in the eu. you know, there -- you know, one of the key things we've had to do is to educate our eu partners that the united states values privacy, too, and we value our personal information. we just have different legal systems by which to address them. and in the new pnr agreement, i think we've reached accommodation with the eu privacy interests, consistent with the way the united states handles privacy and data protection issues. and at the same time, by being able to exchange pnr and have that agreement in place, we will have one of th

germany and france initially proposed revises the eu treaties but failed to bring all the eu members onboard. now the eu will aim to conclude a new accord by 23 nations, including all the 17 eurozone nations that are playing their central part. >> translator: prime minister cameron asked for something we all considered as unacceptable in order to change the eu treaties. >> the european union nations have also agreed to extend up to 200 billion euros in the international monetary fund trying to beef up the rescue fund to help debt strapped countries ride out the fiscal crisis. by providing loans to imf, they're hoping to get returns from countries such as emerging economies. >>> japan says it could ease restrictions on u.s. beef imposed eight years ago due to mad cow disease. the mood prompted by a worldwide cases including in the united states. japan banned imports of all u.s. beef in 2003 after a case of mad cow disease was detected in the united states. since 2005, imports are limited to meat from cattle aged 20 months or younger after complete removal of the brain and spinal cords

germany and france champion a major eu overhaul but differ on the details. it's all about jobs this friday. the big monthly nonfarm payroll number is out in a few hours from now. investors wait nervously. >>> and mario monti nearly gets the wrong man. he's offered an italian cabinet position after a mix-up over names. >>>s athese two european power players begin to see eye to eye, a plan to solve the european debt crisis appears to be starting to take shape. the french president nicolas sarkozy and the german chancellor, angela merkel will hold a crisis meeting on monday. details are unclear but they are expected to finalize proposals for stricter budget discipline. just a short while ago, ms. merkel explained some of the proposals she's making to members of her own parliament in berlin. she laid out her vision of a much more tightly integrated euro zone and said europe was on the verge of a fiscal union. she ruled out the idea of issuing so-called eurobonds to spread risk more evenly among member states of the euro area and said there's no quick fix for the

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his decision to veto the new eu treaty classic has left and with the painful reminder of the tensionsithin his own coalition. there were talks of west play. but to david cameron was adamant he had no choice in brussels because it calls for extra safeguards for the financial sector was heated by heather countries. >> i wish the it -- by other countries. >> i wish there were proper safeguards. the right answer was no treaty. >> he went home to argue that britain was still very much a part of europe. >> it is impossible to be able committed an influential member of the european union with the arrangements that cannot protect our interests. >> but the opposition leader said the u.k. had been dangerously isolated. >> we will rue the day this prime minister left in britain alone without allies, without influence. it is bad for business. it is bad for jobs. it is bad for britain. >> last time david cameron appeared in the house of commons, euro skeptics in his own party told him to shape the bulldogs spirit. since the summit, they have been praising him for his stance. >> because he has stoo

it involves amending eu treaties for stricter budget rules on member governments. german chancellor angela merkel and french president nicolas sarkozy a share in their determination to restore growth in the year and keep the euro as the stable currency. march. logical course. we're absolutely determined to say the euro is so important that we will go ahead with the 17 eurozone countries and be open to others that want to participate. sanctions. france and germany are also pushing for monthly meeting to coordinate fiscal policy and binding that limits. the european court of justice would ultimately decide whether they have correctly inc. those rules and to international law. the two leaders want preparations for permanent bailout bonds in the european that stability mechanism to bear fruit by late 2012, when your earlier than planned. >> aligning the core economic values in both of our countries and increasing solidarity between germany and france is a historic decision. >> but the european parties will have to follow suit in this week's summit will put the franco-g

a visit to london in the first high-level meeting between the heat of countries since the divisive eu - between the two countries since the divisive eu meeting earlier this month. >> for germany, the united kingdom is an indispensable partner in the european union. there is no doubt that we want to make the next set in the european union together -- next steps in the european union together. we think we have a common destiny. we think the european union is not only answer to the darkest chapter of our history. it is also life-insurance in tis of globalization, because no c count, no country is strong and big enough to face the challelenges of the globalizatin by its own. >> eu leaders have signed -- blocked a landmakrk treaty with ukraine. at a summit in kiev, herman van rompuy says that ukraine needs to resolve concerns. the decision is a setback for the ukukrainn president, who has rejected european calls for the release of the former prime minister. supporters demonstrated on the sidelines of the meeting against their own imprisonment for alleged abuse of office. the syrian observa

the eu plans to extend as much as 300 billion euros to the imf. the statement notes the eu plans to urge other countries including the group of 20 nations to join in providing funds to the imf. but it is uncertain just how much support will actually be given. >>> the scandal at olympus is looking to earn to boost its capital. possible private investors may include fuji film holdings and sony. the long camera businesses are apparently drawing attention of potential buyers -- subscribers. this move comes after the company released last week its earnings report for the half year through september. the firm posted a net loss of over $400 million. the financial statements also show that olympus' net assets fell by around $1.3 billion. that makes the net asset figure around $590 million. it reflects the huge losses. the focus now is how on olympus will proceed with capital boost. the tokyo stock exchange put it on the watch list and whether to keep it listed as a company or not. >>> saab will go out of business after a buyout negotiation with chinese co

. >> that would require a change in the eu treaties. merkel tougher sanctions for those who break the rules. >> a central element of the new stability union, fiscal union should be a debt break for members of the eurozone. there will be further aspects as well. we need to create stronger and more tightly integrated structures in the eurozone. we need to tackle problems early to prevent the crisis from occurring in the first place. >> the opposition says that's merkel was preaching fiscal discipline, but not practicing it at home. >> the european house is on fire, and you're scared a burning your fingers. you fly away from the political responsibilities that are yours. instead you shove the burden on to others. >> merkel seems unfazed by such criticism by bank -- criticism. she likened the crisis to a marathon. >> yes, "mayra upon," the words by angela merkel. >> on next friday's eu summit is seen as a make or break for the eurozone. the big question is whether european leaders will accept the german chancellor's proposals for fiscal uni