at the last ten seconds of one hundred facts at all for most home this the last working day if the eu imf bailout program. good evening enjoy the weekend. thanks for watching. the thing. i am

welcome to six one the last working day of the eu imf bailout has been dominated by a toll from the government of tax cuts and from the unions of pay demands of support to pack its bags. several senior ministers. they have at the prospect of easing the tax burden with the minister for finance michael noonan rejected suggestions of a return to auction politics. describing the troika is a disaster the irish congress of trade unions. but after years of pay restraint demands to be expected to emerge in the not too distant future. but the first of our porch this evening. his opposite that of eric david murphy. when this opportunity to lynette for positive coverage quite old by journalists from france korea to calm the us denmark and germany to send some dublin. in the course of a few months actually from office that he went to them you gotta respect. the tea shop was announcing an expansion of irish company ten complex and laugh and he folds the economy being told that the fire he wasn't talking of celebration another keeping this country has to have great discussions many people have difficulties

published its medium term time for the irish economy the platter is falling on its exit from the eu imf bailout. all school aims to eliminate the budget deficit the need to borrow by the end of this decade. the doctrine forecasts economic growth ranging from two percent next year to three and a half percent by twenty nineteen the government said it wants to replace soul of the jobs lost in the crisis with new ones to how the rates of unemployment spiked twenty twenty. even hinted at the prospect of targeted tax cuts after twenty sixteen knots election year old it depends on economic growth economic recovery means having it all. he's having a state of the mortgage the beans begin to see your grandchildren again next christmas. in person rather than looking at the woodstock this document is to provide a framework for the next step for once. the government things are normal growth rate should be about three percent and the things the economy will return to this level over the remainder of the decade. that growth will produce jobs and lowering the rates of unemployment. the projections don'

it must also be shared by the ey, -- eu, imf, and the united states. west should be prepared to help the ukraine financially and otherwise to overcome the short- term pain that reforms will require and russia may inflict. in short, the west must show ukraine's leaders and people that they will not face short- term economic destruction in pursuit of a better future. this is the challenge we now face with georgia and moldova, which have decided to deepen ties with europe and the west. these countries must know we will help them weather any loss of economic activity or energy supplies, in a sense by helping georgia and moldova meet their short-term needs during this transition, we in the west can convince ukraine and others that they can count on us, too. if we are committed to expanding the promise of the euro atlantic community, we will have to stand up more forcefully to russia. this is not the way it should be and certainly not the way we want it to be. eastern european countries should not have to choose between good relations with ae yo -- the eu or

eu? do you expect the ukraine has been talking to the imf about the possibility of getting some assistance? do you expect to have these organizations match russia's offer? >> i think that is what the eu has been trying to avoid. it seems the imf is not willing to significantly reduce the conditions so far i don't think we'll see a bidding war but i you think they leave the door open in some form. >> thank you for your insights. >> moving on to business news now. here in germany, workers at the online retailer are on strike for the second day. they walked off the job at two logistic centers. >> they're pushing for better rates of pay but amazon is rejecting that call. >> the strike comes at a high pressure time for the company. >> a standstill at the busiest time of the year. unions want a wage agreement. they say the pay is adequate. the strikers are prepared to ruin amazon christmas. >> they are stumbling. we are hearing from colleagues that hangs are getting chaotic. >> they say they'll keep going until they get the bargaining agreement. >> if amazon won't give it to us, we have to cause

it must also be shared by the eu, the imf, and the united states. all of us in the west should be prepared to help ukraine financially and otherwise to overcome the short-term pain that reforms will require and russia may inflict. in short, the west must show ukraine's leaders and people that they will not face short-term economic destruction in pursuit of a better future. this is the challenge we now face with georgia and moldova, which have decided to deepen ties with europe and the west. these countries must know that we will help them whether any loss of economic activity or energy supplies. in a sense, by helping georgia and moldova to meet their short-term needs during this transition, we in the west can convince ukraine and others that they can count on us too. ultimately, if we are committed to expanding the promise of the euro-atlantic community, we will have to stand up more forcefully to russia. this is not the way it should be and certainly not the way we want it to be. eastern european countries should not have to choose between good re

and after living off eu and imf bailouts for years, greece may finally be getting back in the credit markets. its deputy treasury secretary said today that they're going to be able to borrow again next year. we'll see. chief international correspondent michelle caruso-cabrera joins us. you posed the question before the break. does austerity work? >> not just greece, but portugal, ireland also expected to borrow next year. all had government spending for the most part that was far bigger than their tax revenues would ever be able to support. their original dream, they were going to be able to grow into that spending. they didn't. so they had to cut spending. were there incredible costs? absolutely. gdp sunk dramatically. terrible youth unemployment. but those things were going to happen anyways because the governments had been borrowing. and delivering to people a standard of living that their productivity level was never going to be able to support. so decision day was going to come at some point. that's what it's led to when you see the garbage piled up in greece and spain because p

-- and i'm speaking from the european perspective here, i think the difficulty is that the eu alongside the imf would demand some clear conditions and i think that that is -- >> the conditionality -- >> the conditionality would be difficult. >> there was one very key thing, at least one that we were looking at in terms of a potential deal between ukraine and european union. and that the fourth coming presidential election necessary early 2015. this is the year when they cannot afford to put up -- give leeway to the opposition where he would be facing a challenge to his presidential bid and annoying the court supporting him. so the conditionality and the timing of the conditionality was essentially wrong. >> thanks for that, otilia. >>> meanwhile, the eu is on the verge of agreeing to a deal with how to deal with its troubled banks. it's been asked if they finally cut the cord between weak sovereignes and banks. >> translator: one can never say never, but i think we will have reduced it when we reach final agreement with the european parliament and the system becomes operational. i believe then

the non obvious the uk government would like to directly from the eu itself without having to deal with the imf because it simply doesn't want to have to agree to peace in the bonus shares to the imf is to talk events such as in a pretty sharp currency devaluation and aims to fuel subsidies and of course masterful stairs he measures the west has already expressed outrage at the actions of the ukrainian authorities with the us accused state among those giving the strong wood and opinions. disconnect come reports on what is being sent it's not often that you hear the word. he's got that from a diplomatic usually reserved for some tremendous ents what john kerry just use that to describe the decision of the ukrainian leadership could dismantle protesters barricaded the center of kiev and here's what he said united states expresses his disgust with the decision of ukrainian authorities to meet the peaceful protesting keys my town square where the riot police bulldozers and the cause rather than with respect for democratic rights and human dignity before secretary kerry speaks so it sounds like he s

so if the west could manage to reorient ukraine toward the eu, to taking the tough steps they will have to, to get imfns which is what they will have to do, a lot of economic pain but that could have a reach region on the region and russia. >> it's interesting. we just saw in your piece that yanukovich said what they wanted to hear, and $15 million or billion? >> billion. >> he is telling russia what they want to hear. how do they read him here. >> both europeans and americans feel the same way. the swedish prime minister called him a two face. but the u.s. officials and european officials say when you get in a meeting with him, first of all, he is very obsessed with old grievances and the eu didn't come through the way they should have didn't give him enough money and thank you don't ups the pressure he is under, and russia is essentially saying, we are ruining you if you go this trecks, so it's tough to stand up to that. but more fundamentally, they don't think he is a man that is legal thinking about the future of this country and the long run, that he is very preoccupied with himself, his politica

the euro zone or assistance restricted by the politics of the eu and what was rather dramatic they said okay we've been recommended by the imf and others to undergrowth the austerity and short-term deficits and maintain your current fee and reduce your obligations that you can recover faster. a number of ministers including the health minister resigned on the universal health system and a number of other social safety net. a rather dramatic move for the politician. for the first time since 1944, iceland did something incredib incredible. they used social media and all these other interesting things do have a constitutional amendment and even though the debt was more than 800% of gdp, they asked for something simple and said a small group of people in charge have invested all of our money and mortgage-backed securities and it's dropped. we have two options. one is to cut the cd because social safety net obligation and use government taxpayer money to pay back the foreign creditors. the other option is to do well in repayment programs, pay it back slowly over time while preserving the safety net at home and most people underst

pact, itgned the eu might have had $26 billion in loans and grants from the eu over the next several years, it also agreed to the imf package. while the ukraine. eastwards,ine pivots hundreds of thousands of ukrainians pivot westward, desiring to be part of a europe whole and free. it is in that context we welcome back a great friend of the atlantic council, senator john mccain, who visited these protesters over the weekend with senator chris murphy, and can 10 use to play a consistent and -- and continues to play a you consistent and -- to play a consistent and leading role in change around the world. thinking through what role the united states should be playing in these challenging times. for those reasons and many more, the atlantic council presented senator mccain with the freedom award in 2011 at our global for them in policy -- impolitic and he said then, " -- at our global forumi in poland. he said then -- one could add the word ukraine -- are peacefully demonstrating to change the characters of their country not by hateful ideology, violence, but by the end it -- humannging for democracy." we look forward t

the eu pact it might have had $26 billion of loans and grants from the eu over the next seven years, and if it also agreed to the imfe ukraine pivots eastward, hundreds of thousands of your cranans pivot westward, standing together in protests for their continued desire to be part of a europe whole and free. and it's in that context we welcome back a great friend of the atlantic council, senator john mccain, who visited the protesters over the weekend, with senator chris murphy, and continues to play a consistent and leading and principled role in supporting democratic change both in eastern europe and around the world, and thinking through what role the united states should be playing in these challenging times. for those reasons and many more, the atlantic council presented senator mccain with its freedom award in 2011 at our global forum in o'land. he said then, and i quote, like the workers of -- or the youth of east berlin in many other places, too, now senator mccain you can add the word ukraine -- are peace the demonstrating to change the character of the country not by violence but by the longing for human r

pointed out that eu should focus on growth measures in the shorter term as reforms in the public finances sector should take time to have any effect. additionally, a recent report by the imf states that too much austerity is self-defeating. that means that the continued fiscal austerity for some countries in the eurozone, especially in the south, leads to an even deeper recession. in most cases deeper than projected. in this vein, how do you think the u.s. come and more particularly through its participation in the imf, to channel its efforts in alleviating the harsh consequences of this continuous crisis that has brought severe economic and social traumas to these countries? >> congressman, we have been deeply involved in multilateral and bilateral discussions on the response to europe's economic challenges. i know in my own conversations with finance ministers around europe, i've made the case very strongly that europe needs to worry about growth, that as it looks at the weakest economies in europe it needs to stay focused on the reforms and the structural changes, but as they look at the base of fiscal consolidation they also have to look at the enormous unemployment a