of 830.7 million euros. so a beat there as well but we keep an eye on this offer for anima, seven euros per share. a busy day ahead, plenty on the docket, some of what we are watching out for. the opec monthly oil report coming up later today at 1:30 london time. the latest u.s. cpi rating -- reading out of the states, and then adding on to what powell has said we will hear from the atlanta fed raphael bostic as well. get a roundup of the stories you need to know to get your day going on today's edition of a break. -- daybreak. we have plenty more coming up on the program, not least getting into those abn amro earnings with the cfo. plenty to discuss with him, next. this is bloomberg. ♪ lizzy: welcome back. it is 6:12 in london and we have had earnings out of the dutch bank abn amro reporting operating income for the fourth quarter that beat estimates, net interest income 1.6 7 billion euros, beating the estimate of 1.6 one billion euros so a slight beat but i miss when it comes to the outlook for net intere

euros, so thereby we aim to modernise a total of 200 billion euros for investment in europe.—critical applications. it be last is it will be the last is to public in public private partnership in the world for the development of trustworthy and of trustworthy a!, and finally sh?! be cooperative a] can be well beyond europe, attractive well beyond europe, including our partners in the global south. and in the spirit we fully support the ai foundation that is being = -7 = _7 today. ai can7 ——— today. ai can 7e a launched today. ai can be a gift to but we must sure it 7 sure it benefits a make sure it benefits a widespread and its benefits are to we wa r7lt to we want al accessible to all. we want al to bea,,, for we want to be a force for good, we want and ai where everyone collaborates and everyone = -7 = -: this is our 7 this is our p77ath, benefits. this is our path, this is our european path. thank very much for your attention. applause attention. applau! ursula der leyen, studio: ursula von der leyen, the of european the president of the european commission, addressing the

we are in the middle of eight to billion euro -- a 2 billion euro share buyback. generally pleased with the results that we have at the moment. lizzy: to be clear, can we expect ing to keep up the pace of 2024's buybacks? >> we plan to go to venture capital ratio to around 12.5%. we normally announce any cap election with the results of our first quarter in may. we expect to make some announcement of what we will do in 2025 at that time. lizzy: one of the big questions hanging over european banks is how you were going to handle the turn to read cuts from the ecb. how do you expect a mortgage growth pending with rates coming down? >> yes, i think rates are already coming down. just by having historic high revenue numbers in 2024, we expect our revenue numbers for 2025 to remain around that figure, and does rates come down they stimulate mortgage production. we saw strong mortgage production in 2024, and we expect that continued strength to continue for ing going into 2025. lizzy: as the netherlands' largest lender i wonder how you expect donald trump's tariffs into

is on euro group, president pasco, don't know. thank you very much for speaking to us here on business beyond not at all device to be on your program. now i believe this is the 1st gathering of the oral group since the re election to the presidency in the america of donald trump. my 1st question to you today would be, is your up ready for trump 2.0? so i believe europe will be ready for from 2.0 because we have a track record of being able to adjust to really big strategic developments that takes place south fire in the world. but we do have work that we need to do. we need to deepen the foundations of the euro with regard to capital markets with regard to banking union. and we also need to look at what further steps we can take to deepen the competitiveness of the european union. as we furnish and develop a new relationship with united states, we need to do it from a position of grace of strength than we have at the moment. i definitely want to get into some of those issues of the letter, but just to step back a little bit and we

m the talks and euro-ean will be e talks and euro-ean will be consulted!onsulted but ro-ean nations will be consulted but for now the talks are very much between the and russia. now the talks are very much between - the i and russia.— on ukraine this week. president erdogan. our state department correspondent, tom bateman, is travelling face to face in a saudi royal palace, a picture that makes history. here was the us, the biggest single backer of ukraine, sitting ended their isolation and the world was about to be shown it. start of the meeting. so the doors opened, the press brought in, and then level in three years. what concessions will be asked of russia? if the us was demanding any concessions of moscow, to engage in a serious process to determine how and how quickly on every side in this conflict�*s willingness to agree to certain things. so russia moved from being pariah to partner. how are the latest comments president likely to be president trump likely to be received in to president trump likely to be received in _ president trump likely to be

it stands against the euro. it stands against nato. >> what i think is interesting is despite what can only be described as a very poorly handled political maneuver via frederick marx, when you look at the polls, it has not changed things much. he is still holding at 30%, afd is around 20%. what's interesting is you are hearing frederick merz trying to turn the economy around. anecdotally, you talk to people in germany, i talked to many people i know and asked to they are voting for, they say they have no idea. that is people who have been voting for a long time who are familiar with the political landscape in germany. i don't know what that tells you in terms of paul like but a lot of people don't know what to do this election. tom: bloomberg's oliver crook on the ground for us in hamburg with a finger on the pulse of trade and the reaction to tariffs a time of political uncertainty in germany. our special coverage ahead of the german election continues throughout the day on bloomberg. stay with us for intervie

with regard to this by highlight 3 pieces of work. firstly, wireless device budget policy for the euro area on from member states of to your away area. to get the balance like between half and safe public finances, but investing in a future. second, it's the work that we have on the way would work out the capital markets union, which has taken time. but we shouldn't underestimate the ability of continuing to make decisions in this area, but maybe, etc, racing the pace of stock decision making. so that we can deepen and integrate our capital markets within the euro area under your group has done a lot of work on this. and then find the i would argue that the digital future of the euro is also of a strategic response back to the way in which we see the global economy beginning to change is on the topic of voice decisions. mean we get onto the driving a report now, one of the big headlines from the driver report was, is his mention of the figure of an extra $800000000000.00 euros a year that's needed in his view for the you to catch up. and some of those areas that you touched on, whether

euro-dollar up 1.04. the german 10 year bund in focus with expectations these european nations will have to step up spending. yields up in germany. brent trading at a $74 a barrel come up .2% on oil. let's flip the board and have a look at the defense stocks. that is where the strength has been. on bets building out amongst investors european nations will come together possibly with some form of collective debt issuance to fund a spend on defense given the u.s. appears to be walking away. some up 10%. leonardo in france at 5.3%. bae systems gaining 5.6%. defense stocks rallying strongly on that story. european leaders heading to paris for emergency summit later today to discuss security and support for tf which ties into what we are seeing -- for kyiv which ties into what we are seeing as trump pushes for a quick end to the conflict in ukraine. oliver crook caught up with the deputy head of the ukraine president's office earlier. >> we can say the united states is involved in the process and we are lookin

first quarter of the profit coming in it to .5 2 billion euros -- 2.52 billion euros. we can go straight to an interview with the ceo. >> we had a strong, promising start in q1. growth was up 3% driven by health, smart for and mobility. on the other side, we saw an order intake growth by 6% and our automation business was up 6%. that is promising that we get more momentum. net cash flow and income was up 50%. we keep our guidance for the full fiscal year, so we are quite happy. it is not only data centers, it is the whole sector still growing, and for automation we see signs of recovery. we had a high stock that we are building down. we were coming from 14 weeks and now we are down to 9.5%. momentum is coming. we see an increase in the demand for semiconductors, electronics, aerospace, also chemicals picking up, which is a leading indicator, so we are quite positive. we have to look for another quarter for a clearer sign, but moving at the right direction. lizzy: that was the siemens ceo, and we can see in germany, because we have more earnings out of commerzbank cross

that ached the 77 of euro 202a. that wasd the 77 of euro 202a. that was around final of euro 202a.king at their financial regulations or the psr rules, and hadn't yet signed —— sold jhon i to "ft yet signed —— sold jhon i to saudi signed —— solthon i to saudi arabia. —— solthon 777 7 7 7777 all 7 77 7 77 a7 ll easte7r 77 7 77 all easte7r —— now, meaning all easter —— ollie watkins their only striker. and mikel brteta base and mikel brteta haee always —: it clear 7 it clear they were 7 it clear they were looking at made it clear they were looking at the for a potential striker, the market for a potential striker, but, they could come into impact :f ;g—;r;up’ group, and "33 3” 33:3: 77 group, and not group, and not in a negative way the group, and not in a negative way — and you can probably guess,—with �* and — and you can probably guess,—with �*and a half hours of the four and a half hours left of the window, it's looking unlikely they'll add to their squad before summer. likely that i don't get the summer then. but not far away, at tottenham, there has been a deal agreed and one d

euro-dollar at 1.02. the two year of the front end. it's a different picture and crude diverging and that is significant. you are looking at an increase. bitcoin and ether also taking a hammering. it's a safe haven. that argument has been trashed today. let's check in on the canadian dollar falling to the lowest level since 2003. the mexican peso the chinese yuan. the canadian dollar down 1.3%. canada and mexico say they will retaliate. china working on a proposal to try to appease donald trump. let's cross over to avril hong for the asian market reaction. >> we are seeing heavy selling, risk off in the region. investor concern rippling that this will be a trade war now that we have the opening salvo. still waiting to hear what china does but i thought it worth highlighting that we are seeing some of the ai movers and ts emc dragging on the markets as they are back from a long holiday. alibaba higher today, helping declines amid optimism of its ai models but also worth highlighting when it comes to hong kong markets that they are not p

and then find the, i would argue that the digital future of the euro is also of a strategic response back to the way in which we see the global economy beginning to change is on the topic of voice decisions. mean we, we get onto the drawing a report now, one of the big headlines from the driver report was his, his mention of the figure of an extra 800000000000 euros the or that's needed in his view for the to catch up. and some of those areas that you've touched on, whether it's innovation and serve digital innovation and entrepreneurship, essentially it's trying catch up with a considerable gap. that is no immersion between your paying companies and american companies. and indeed, chinese companies do you think the you can come up with that kind of a figure and how do you think it could do this? uh yes, i believe we can. and i believe this 2 ways in which we will do firstly, it will go back to the opportunity that is there regarding a private savings with into your opinion, on how we can coordinate them in a way. at dot delivers a bash or benefit for europeans on for the european un

on average indian families spend up to a 100000 euros on a wedding. maybe in my opinion, living it's so once in a life by now put unity. i know, and one point is also sort. so media, you can say they want to live this moment and then again and again again and again maybe go to these ends. i think this is, this is the one that indians i use this who wants to sort them want to show this status to other people and that's what it is next to them. in other areas, i think around the world, it's not the same. the couple took 60 days off work for their wedding, which had over $400.00 guests arriving from around the world. back in germany, while the number of visitors to the wedding fare is still limited. business is good for this jeweller. he's benefiting from high gold prices and demand for wedding ring to some couples even come in as a weekend to make their own brings with the jewelry in the hospital. and it always has to be something special and individual. this goes under, in our case, special elements using the families own gold. so someone might bring a

been just over one euro. we will speak exclusively with the ceo credit agricole, the deputy ceo jerome grivet, at 7:30 a.m. u.k. time. tune in for that conversation. the first shots of the u.s. china trade war are sapping sentiment on the markets. let's bring in mliv strategist mark cranfield. give us the deep dive in terms of market reaction in mainland china on the reopening after that lunar new year holiday to the second round, in terms of the trade war of the u.s.? >> as avril was saying, on the surface, it looks as though chinese equities are not doing great. if you look at the major indices, csi 300, shanghai composite, they have been choppy all day. under the hood it is a very different story. it is becoming a stock ticker's market. target gains for software developers, particularly those in the artificial intelligence base, people benefiting from the deepseek narrative. there is gains for metal companies like tungsten-related companies because china will put tariffs on the u.s. in that sector. you hav

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the euro is stronger in crude is lower.a market perspective on what europe would need? lisa: from a market perspective, it's ironic that this is essentially foisting the need to borrow $3 trillion on the euro region that could potentially spur growth that could potentially be with the region needs to get out of its slow growth, slow evolution. jonathan: we've said before that perhaps these moves by this president forces europeans to do things that are actually good for them. lisa: it is the reason why it's a difficult moment to invest. at the same time you wonder, if you get growth, what does that mean for what the ecb can do? you start pushing this down. it's premature. let's see if they get a deal done. jonathan: chair powell wrapping up his testimony telling the house financial services committee that the cpi print means there is more work to do. we have ppi and jobless claims and 55 minutes. i have to say, listening to the fed chair he didn't sound vigilant when it came to inflation with words like, i would say were clo

and, you know, that's why we see it weighing on the euro and why people are looking to sell euro on those rallies. >> what is the outlook for the euro then. what do you think is the range by the end of this year? >> yeah, it's actually interesting. we've been amongst you know, we've been bullish on the dollar since, you know, obviously since the election. but i think we've been a little bit more cautious about just how far it needs to move, how much of an adjustment is needed before things start to stabilize. so we still don't really think euro dollar needs to trade below parity, certainly not for any prolonged period of time. and we've kind of got euro dollar going to around 101 stabilizing around there. and then possibly in the back end of the year you might start to see, you know, a bit of a pickup. and there's also other potentially positive risks right in europe which aren't really being focused on like what if we start to see progress towards a ceasefire in ukraine? that's probably going to be more positive for sentiment in europe. so look, the outlook for europe is clearly not grea

so just a few euros per square meter. this model is often used to surfaces, like table lakes and tops many a simply a cheapest stone with a model like finish. blaine has also become trendy as a print button, including in the fashion industry. and finally, an owner as model is a classic of a different kind. the well famous model k a 4 day work week with full pay. sounds great. but is it realistic? a german pilot study with $45.00 companies put it to the test. the result, in many cases it works 73 percent plan to keep it, but there can be downside of 4 day working week makes it possible to own a dog and spend time with it. yes mean already go heart has been working for days a week instead of 5 for a year now or salaries the same, but she now has fridays saturdays and sundays. all her employer wants to be more attractive to employees and it's working. so i just love, i've always wanted to have a dog, but so okay, can i manage that alongside my job because of the 4 day week is encourage me to take the risk and give it a go to

it is coming in at 4.6 7 billion euros. the estimate being for 4.1 6 billion euros.at there and kering saying it has plans for more deals with property funds to cut its debt. so sales tumbling as his turnaround fails to take shape over at gucci. can they improve things now that they have made these changes at the top, the change in terms of their creative director, one of the first major decisions by the new ceo, who took over that role in early january. so those results from kering dropping shares down 40.71% over the past year. let's stick with the corporate and turn to tech because as we mentioned earlier, the openai ceo sam altman has rebuffed a 97 billion dollar bid with a group of investors led by elon musk, who cofounded the company. they want to buy the nonprofit that controls the chatgpt creator. the bid is seen as a move to complicate openai's transition from a nonprofit to a for-profit entity, looking out more now from tom mackenzie, our anchor who's on the ground at the ai action summit over in paris. good morning, tom. the fact that altman turn this down

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euro-dollar at 1.04. brent currently up 0.2%.old continues to close in towards that $3000 per troy ounce level, currently up 0.2%. some breaking news in the last couple minutes around what is happening in china. president xi jinping is expected to be holding a symposium focused on the private sector. this according to reporting from reuters. and in attendance will be alibaba's jack ma, of course, the founder of that business. i believe this is the first time jack ma will be in a room with xi jinping at least publicly acknowledged since the speech that he gave, momentous, in october of 2020 that led to the removing and ending of the ant financial ipo and essentially a long run dressing down of jack ma. all above us fortunes have turned around as well, adding $40 billion to market cap just in this year alone, on the investments that have made in ai. they have now partnered with apple to provide some ai services on the iphone in the chinese market. we will watch that stock. currently up 4 percent in the session. hsbc is kicking off

the facility is investing 250000000 euros to boost and diversify its activities. a new control center will be ready here in 2026. let me push him back, almost him feeling pedals. yeah. okay. multiplan sweetheart. i am for 9 launches next. yeah. but okay, and in the long run, 15 or more each, you can split that onto the personal smart would also accommodate micro launches at a site where constructing show on the, on the deck, you're going to go flip sure these private rockets some of reduced capacity, but you're gonna have a lot more launch is a g. yeah. the centers director says the gear up is necessary. not only since rushes invasion of ukraine, which brought space cooperation with moscow to a halt. competition has gotten rougher, not least through private players such as us billionaire, even mosque, and his company space x. you typically me guessing where everything is done through start the lines out asterix prior to that communication is where the full costs, climate surveys, etc. and you really focus on so space is turned into a crucial economic sector lookin

good ally to other euro and i'm ions anc of’ w still remaining good ally to other euro and i'm ionsstated the uk position that reminded part of denmark. greenland. support for —— greenland. support for palestinians, returning home to their homes and not being forced out in any deal as the one trump himself has suggested. of the will of falling out completely was such a isa is a delicate ally. is a delicate political you much, balance. thank you very much, lucy. costs and low demand, it is under enough disastrous. balance of trade. information from the white house. the new british ambassador to washington lord peter mandelson has his work cut out. the same sort of weather we're going to have over the next but not really succeeding to push in. now it hasn't been cloudy everywhere today. look at this. and sunshine will keep some clear skies through the night of scotland as well. and some spots of rain and drizzle and some snow over the tops of the pennines. some snow over some of the hills and mountains in scotland as well. just above freezing. if the cloud breaks and the skies clear,

the euro trading at 1.0312. the u.s. dollar strengthens and of course as there is a lot of chatter about the ecb neutral rate and also the risks inherent in the u.s. trade posture. and with that now, let's go to europe because this comes as an ai summit is being held in paris. the french president just spoke. for more on this we turn to tom mackenzie at that summit and with the new french finance minister, eric lema. tom: the minister of finance standing by for this conversation and we will start with that announcement from the prince president -- from the french president, around 109 billion euros of additional investment nce to build out ai data centers and infrastructure, to better position france. is this the french response to stargate in the u.s.? eric: we had started that a long time ago. it was always our policy to build nuclear power plants to provide clean energy and independent energy in france, stable and cheap. this plan is to finance more than 100 billion euros in data centers and around that, research team

, for the euros.st portugal and welcome spain, the a repeat of lasts, to 5:55 against portugal and welcome spain, the a repeat of last year 5:55 against portugal and welcome spain, the a repeat of last year because world cup final. after playing the first ever match, group of players official match, the group of players �* living as in australia, the have received no su- -ort their home country the their home country the their ho takeover. y following the taliban takeover. jo currie spent time with them in melbourne. the true victory the match itself. three after they itself. three years after they fled �* home country, this moment their home country, this moment marks a new chapter. one of the 19 who australia 77 7data 77aa7ia ra7iibab7777 77 7 77 7data taliban returned 777ea7i7a7raiib§b7r7e7tb7{572375711717 the data taliban returned still haunts her. in the data taliban returned still haunts her-— the data taliban returned still haunts her. and i felt i would lose everything. sorry. take your time.

in the fx market, let's check out euro-dollar. a three-day run of euro strength. a check of the equity market. equity futures soft on the session but no real drama. down by about .1% on the s&p. that is a downside surprise on u.s. retail sales. lisa: when you strip out autos, which we thought would be noisy, you have the downside surprise. the one caveat and why you're not seeing a bigger reaction is because the revisions to the prior month were significantly higher than previously reported. that was revised up the same amount that some of these metrics were revised down or close to it. it is a push-pull of the internal dynamics of this data. jonathan: mike, any detail on what is behind this number? michael: the census bureau website was not working particularly well, which is not a surprise. let me pull up the table. in terms of import prices, import air passenger fares for the month were down 1220%. devil put -- 12.8%. that will put downward pressure on the pc number. we will get some good news out of the overall pce. the fed will be in better shape. here is the

it kind of felt like the world cup euros _ idea.o do as best as they possibly - to. possibly could to. ??s the in the that was th'e'gold'in'the game. how much of that was the and how much of that was the free laughter freje booze? laughter be 5050? in be 5050? ., . be5050? .,., 7 they gave 7 77 they gave away 7 they gave away 300 pints 7 i— ey gave away 300 pints i— but ave away 300 pints i— but how way 300 pints i— but how much 30 pints 7 i— but how much did jints 7 i— but how much did it its the business? cost thebusiness? added up the total actually added up the total because i'm still shock. but would say over may be i would say over £1000, may be close to £1500. [ha i would say over £1000, may be close to £1500.— close to £15005ea'se'eleeise as fans for close to £15005ee'sseleeissts -fansforthisi close to £15005ee'sseleeissts - fans for this nexfi close to £15005ee'sseleeissts - fans for this next bit i brighton fans for this next bit but brighton's — bet brighton's. heaviest , defeat before — bet brightens beeeiest . defeat bef

i destroyed military equipment in the capital as uh, 250 euros of pump. it's double the phone visit to boats and air pin for some horror stories, where they invite you to witness evidence of russian regression with your own eyes . their version of events, of course it's certainly huge here for you. it's also drove eastern parts to create a used car key and other cities and different patrol separates. yeah, yeah. or the washer, and that's so they're coming to try to shows that the damage is that because the screen is under blue using the green is keeping everything that is there or how it was happening. so this for an adverb anything they're talking about that it was uh, its own system shooting down dismissal. as i'm hitting its own people, they're talking about that i would say, no, it's only russian who's behind us. and we'll show you printing was the one of the setup and check the printing was have i have numerous people who knew that was how it was happening in good shape when it was there under the rest of the soldiers. and they said they were not bei

euro stoxx 50 is leaning towards the red light is so. we are down -- up 3% for the week. a strong start to the year for european markets. ftse 100 future is leaning slightly towards the green as well and important data coming up this week in the u.k. with labor market data. those will be big drivers for this markets. mastec futures leaning towards the green but bear in mind, today is a bank holiday so thinner trading than usual later on in the session and asked for cross-asset, this is what we are looking at. take a look at the open for futures and this is a reflection of the fact that you will likely have to see a lot more bond issuance out of these european nations in order to fund some of these defense spending commitments. that is the picture for 10 year bond futures, down .4%. euro trading sideways what we are basically around the 105 level again so a bit of a rebound coming through on back of the weakness in the u.s. d and also a relief trade with those reciprocal tariffs still hanging over europe but the decision to implement them has been postponed back a couple o

so currently the hospital is saving around $100000.00 euros a year instead of a 1000000 euro is it only spends 900001 disposal. that hamburg based start up for a source of fi has helped with special waste collection software in a room and the operating theatre wing, different colored bins have in place to collect waste that's particularly valuable and worth recycling the hospital and needing some challenges. the lack of space, you know, ours are planned in such a way that lots of technology fits but not 10 different recycling containers. so there has to be a central collection point where things can be disposed of separately. and talk then con aluminum, for example, is a valuable resource for staff. waste separation and the operating room is now routine, less waste and hospitals. it means less than center ration. so lower c o 2 emissions worldwide. the health care sector is responsible for over 4 percent of all greenhouse gas emissions in germany. the industry spews out even more over 5 percent. saving, forestry, and hospital operations were ahead of heavy industry and the air traffic,

what we have seen is since the start of is that since the start of the the pound in the euro year thebeen under pressure versus the been. under pressure versus the dollar been. unser pressure versus the dollar and been. unuer pressure versus the dollar and the and the kiwi dollar dollar and the kiwi dollar and even the dollar have against the us dollar how 77 how their and 77 "wine? affiliate" she bites then me; she met; 7 7 a she hm eben wish she “ref; ' ' a bit she ems the“ me; she met; ' ' a bit of because it's a bit of negotiation and at what have negotiation and at what we have seen with australia will icanada last canada last week. it’s not sold canada last week. it's not clear—cut how tariffs will be over 27— over the comin- 7 over the coming months yea rs years and that's and years and that's allowing the markets to a breather. the markets to take a breather. the dollar are still strong and we expect that dominant theme but right now are able to up up and if they can evade catch up and if they can evade tariffs by negotiating with the enforcement of a us anti—corruption law tha

that's the big 2 euro soto strictly to euro. some damage caused by the beaver is he's outside. we haven't even spoken about the time who money site the time spent is taken into account and the compensation calculations. but at least most not we go by the farmers associations rate and just doing this. i don't want to hear that it's wrong. if you're not happy with the compensation laws complained to them readings, and as the result, the dam can stay back to the upper right to catch the enticing. right. and john, if george are working on the french side, they are checking the turtle traps. they've set up, the stress is empty by checking regularly, they hope to keep tabs on how to turn on start getting on the truck. yeah, they love this on yet. this we check the number of the total that we know when it was released and how will they to see them, we measure and weigh it, then it from a previous stage, and we can see how much it has grown and how long it's been. now 10 bucks for ms growth rate, we can tell whether it's doing well or not say, well, the thing here, what i mean, yet, al

b numbers, there's around $300000000000.00 euros per year. is the total amount of money coming from european savings, leaving us to go to the us, the end up being invested in dear mary, can market or buying because the american market is more united. a beat and, and what this will be. so i started by saying, why don't we work to retain this big amount of savings in new? what else do you think the possibility to where you will be, have savers to invest them? in europe, in europe, the savings tools that can give them that good to europeans, save a high share of the g d p. significantly marketing private people. how sold that in america with britain for that matter. and recall as i believe's, the private funding will help on lock public funding and the both are desperately need as the we understand very well that the beach resolves, we need, we can get them only with public safety. if we are not able to mobilize private funding, it would be impossible. and to mobilize private funding, the only ways to create a single markets on financial service

their idea is very to think how is very much to think about how is it they can change the of euro-eanity and suggest that their are infact are in fact winning ideas ideas are in fact winning ideas europe. ideas are in fact winning ideas euro e. 1, across europe. to what extent do ou across europe. to what extent do you think — across europe. to what extent do you think that _ across europe. to what extent do you think that is _ across europe. to what extent do you think that is the - across europe. to what extent do you think that is the case? | do you think that is the case? is there a concern many that j that the centrist politicians that the far right is gaining more traction they be? traction than they should be? there is a concern amongst politicians that the far right is gaining a lot of traction and the way in which they are 7- with this is that they dealing with this is that they are trying to the ideas 2— “777 -_ ief the farrright; er are , willing to ief the ferrright; er are , willing to work insfeesingiy wilting te were which we should bear mind, this is quite a in mind, t

in for billion euros in support for private projects, but is a private projects, but it is a in oceant would i they _ drop in ocean. i was a german it would i they are - drop in ocean. i was a german it would i they are given i it would say they are given kinds of to different kinds of aid to support the economy this is 7 this is military aid were 7 and this is military aid were looking at, but president in his tonight zelensky in his article tonight said the give us that 7 that they can assurances that they can backfill at what the americans have been is; 777t7hey they just 7 77 7 theyjust 7 77 and7we can't, theyjust can't, and we cannot that american guarantee. obviously, what is not _ american guarantee. obviously, what is not been _ american guarantee. obviously, what is not been taken - american guarantee. obviously, what is not been taken into i what is nrotbeen taken into with that what is niotbeen taken into with that is the consideration with that is the resolute, the rebuilding of forces, ukrainian ukrainian forces, ukrainian capability, it ukrainianforces, ukrainian capabil

and this report a minimum annual additional investment of 752800 1000000000 euros is needed. well, i think this is he waiting for a big number in the hope that they people would be so frightened by the big my number. they would agree on a smaller one. i think he sold probably i haven't talked to him about that. and i have actually talked to him about the report. if you dollars for a smaller number, people say, well let's go for an even smaller number, but it's not just public money. the report outlines, but if your opinions invested more and saved less, it would go a significant way towards making up the shortfall. for leading the e. c. b numbers, there's around $300000000000.00 euros per year as the total amount of money coming from european savings. leaving us to go to the us, the ended up being invested in dear mary, can market or buying because the american market is more united. a beach and, and what this will be. so i started by saying, why don't we work to retain this big amount of savings in the roads, getting the possibility to where you will be, have savers to inves

, hundred 3a billion euros, whereas the americans also and we need done their share, and we need doneking _ to do this together. the united states is making - that i states is making it clear that nato is not on states is making it clear that nato it is not on 222 states is making it clear that nato it is is not on 222 states is making it clear that nato it is also is not on 222 states is making it clear that nato it is also making : on 222 cards, it is also making clear this is war. if 7to they continue to see that, you must be worried as a foreign—policy chief? must be worried as a foreign-policy chief? we have discussed _ foreign-policy chief? we have discussed this _ foreign-policy chief? we have discussed this and _ foreign-policy chief? we have discussed this and we - foreign-policy chief? we have discussed this and we will- foreign-policy chief? we have l discussed this and we will have a meeting with the foreign ministers of the european 7—7a7nd77 22 .222, and so farwe and so far we have been and it is clear need united and it is clear we need to 2222 for our united and it is