french, german, and italian pmi data beat estimates as services activity returns to growth in the euro zone's biggest economies. >>> autos performed poorly in europe as the carmakers say they can offset road bumps, but admit the trade war prebsents a real challenge. >> mostly our premium brands here are depending on the market of the united states audi, porsche have significant market share there this is tlat >> tokyo prosecutors appeal the decision to grant former nissan chairman carlos ghosn bail more than three months after his arrest in japan for allege financial misconduct we're going to hear from renault ceo thierry bollore at 11:15 cet. >>> we're going to bring you the euro zone february final services pmi 52.8 that's against a flash at 52.3, and that's against january's number of 51.2 if we look at the final composite pmi for the euro zone, it's coming for february finally at 51.9. that is against a flash of 51.4, and, again, up from january's 51.0 looking, therefore, like euro zone activity has accelerated more than was expected last month, but still not quite as much as some investo

composite logs its worst day in five months on the back of weaker than expected chinese trade data >> euro zone bond yields fall to the lowest level in more than two years with the bund closing in on 0% after surprisingly weak industrial order data out of germany and the ecb's dovish pivot. >>> merger speculation intensifies after the ceos of deutsche bank and commerce bank reportedly resume talk over a potential tie-up >>> and shares sink after the company reports a full and merger adjusted full year net profit and delays its investor date as the lensmaker delivers its first set of results as a combined entity. >>> well, good morning, and welcome to "street signs." as you can see behind me, the sell-off continues in europe for another day. the stock 600 currently down about 0.67%. this follows a down day yesterday where, of course, the main focus was that ecb meeting. we weren heard that the ejd has pivoted to a more dovish stance. more dove irthan the market had been expecting they extended the time frame in which they intend to keep policy rates unchanged by three months, and they also deliv

if you see the performance offer the whole of europe, european euro zones e zone, those countries outside since the financial crisis, it's a session following 2007, the worst performance are greece and britain. things are just not good the worst thing that businesses fear when planning for the future and making business is uncertainty because you don't know where you are going to go if you know that they are going to be barriers crossing into yierp, then they would plan business on the basis of those barriers if you know there aren't and we're going to have free access into the european single market, they're going to plan on that basis. if you don't know what's going to happen, you wait. >> is there anything more to your mind than anecdotal evidence is think ai very clear course rather than just correlation between brexit uncertainty and those decisions? >> well, we can now -- it's been two and a half years, so statistics are emerging of what's happening, and we can see it happening in terms of productivity, for example. if there was -- if there were investments that that were not picked

the euro zone is one of the most cyclical parts of the global economy.highly connected to the global trade and production cycle. really, what they need for that is for global growth to improve. i do think that is what will happen over the next six to 12 months or so. we think the support put in place by central banks, the ecb, the fed, china stimulus, some cooling and some of the trade and other political tensions in certain regions, should help loosen monetary and financial conditions and support global growth. we do think the euro bone -- the euro zone can rebound alongside global activity, yes. credibility ecb's damaged today? guest: i think the bigger issue is on its inflation forecast. it has just been such a long period of under shoot that their credibility around meeting that target has taken so many knocks since the crisis. we see this in the fed, where now he of monetary policy is starting to explore different ways of being more symmetrical, more forceful around meeting its target using different tools. i think it is right for a discussion like

jonathon: earlier this week, we pimco talked about the japanification of the euro zone market. is that what is happening? given that the ecb is stuck where they are currently. henry: to an extent. we are setting up a lot like the 1950's and 1960's where we had yield caps and we will get highly expansionary policy. you need monetary and fiscal policy by hook or by crook and coordinated, because we have learned that offset policy does not work and that gets us to a higher inflationary environment. whether this is in six months, or five years. i believe that and i think the coordination of policy and expansion of balance sheets have to happen on the government level, and may happen after a crisis. that may happen first, it is something that needs to happen. jonathon: until then, buy treasuries and government bonds. is that right? marilyn: at the moment, we are looking at assets that offer more income. it is hard to find that in large parts of europe. we like italian bonds. jonathon: we had a massive win for italian government bonds. marilyn: it has been very much a bottom up persp

in the longetet tool run will be a guarantee of stability and prosperity for euro zone countrieses. ncreasing competitive vity, this tool will respond to needs during the crisis, helping countries in uncertainty and making the euro area more cohesive. it will make the euro area more tractive for other countries. >> teslala is marking another mileleston with its model 3. they will be cutting the base $42,900om its current down to $35,000, finally delivering on a promise it made two years ago. it will close stores and switched to an online only sales model. at delivery time will be cut to 2 weeks rather than 4 ruben martinez: a century ago, hundreds of thousands of mexicans fled the chaos of the mexican revolution, most of them arriving in los angeles, gravitating to the old pueblo area around olvera street. raquel gutierrez: they recreated a sense of home and history in the theaters of the nearby broadway corridor, where

president mario draghi also announced the bank had lowered its euro zone growth forecast for the coming years it expects just one point one percent expansion this year. prosecutors in the netherlands are said to be investigating dutch bank i n g reports connecting it to a massive money laundering scheme out of russia and some of europe's biggest banks have been linked to the scheme the so-called troika laundromat is alleged to have channeled billions of euros from russia into the european banking system through a little way in lender the reports are based on leaked documents the scheme is named after the russian bank troika deal log which is alleged to be behind the transfers. now as i mentioned there i n g is just one of a number of banks across europe tied to money laundering allegations the so-called troika laundromat is just one of several alleged schemes the list of banks accused of money laundering is a who's who of european lenders at the top is don sco bank denmark's national bank which admitted that much of the two hundred thirty billion dollars flowing into its tiniest only a

potential for a rate hike, unlikely, but they are not going to want to squeeze thh banks and the euro zone ecoconomy t too h, given the growth projections..61 it is likely they will lay out the potential for this increase in liquidity almost, if anything, to make up for the fact they are coming towards the end of the maturity of the previous round. life easier for the banks. we pay close attention when mario draghi speaks. is he likely to say anything about brexit? he takes his stance when it comes to things like that is he talks about external risks. toward the downside. that is going to be the case. there are a number of questions around it. going to be a majoo riskk given that we are such major trade partners with the he will not take too much of a major stance, but he is alluded to the fact it is a risk and somethhng worth bearing in mind that could have sense of shock ways -- shockwaves thrrugh europe. speaking to us.or we will have thehe decisision i0 minutes, folollowed by a presss1 conferencece frotthe ecb president.t. mamarkets artrtradinahahead that decision, european markets in

the euro zone currency hitting a 20-month low after the growth forecast cut while launching a new lending the european banks. should we expect more pain for the euro currency? >> when you look at interest rates in europe and germany, the ten yeerd bund trading at 0%. all the lending going on, the incentivising to basically give cash back to the banks if they lend money to me is ultraweakening for the euro currency. we are slightly oversold. 20 month lows here. do i want to be short on the euro verseathize dollar? not necessarily. if this continues that can tend to trade lower. we almost see one to one euro versus dollar. if there is this systemic trouble going on with the banking and lending system. >> do you think the euro could trade in parody with the dollar if the ecb continues to stay accommodative? >> that is very far off in the distance. ten years later and we are still talking stimulus. my next support for the euro is around the 1.12 area. through that i see 1.10. it looks like draghi is going to the same every time and maybe they need to look at other things. >> traded at 1.003 i

than brexit , because a prolonged slowdown in the euro zone could impact not only euro zone countriesalso abroad, emerging markets, china, so much larger repercussions in the broad markets than brexit alone. nejra: i wonder, with those outflows you talk about in europe, whether that, mainly equities or bonds, and i ask because the 10 year bund yield is stubbornly below zero, germany selling notes at a negative yield for the first time since 2016. morgane: that underlines a flight to quality and safety. we see inflows into fixed etf's outpacing equity etf's, so there's definitely a rotation to more defensive assets. in equities alone, defensive sectors have recorded net inflows year to date, with quality as a factor outperforming all others. definitely investors are seeking more safety, and are adapting to the slowdown in the global economy. nejra: it isn't just in but you talk about quality as a factor in equities generally, because we have certainly seen rotation around, particularly in the u.s., the search for high-paying dividend stocks and also some of the bond proxies, as yields

debate is this man right here, ecb president mario draghi, delivering a dreadful assessment of the euro zoneconomy. take a listen. >> compared with the december 2018 euro system microeconomic projections, the outlook for real gdp growth has been revised down substantially. in 2020.nd slightly jonathan: what was really interesting about the price action in the row over in bond discerni was trying to to what degree that was about the policies that were degree thatnd what was about the bond market. which one was it? marilyn: potentially a bit of both. the market had been expecting the additional yields and that they would push out the forward guidance. i think the market was expecting this. , think the timing was unusual but i think when you look at the growth forecast, when you look at everything mario draghi was saying, the eurozone is weakening. it doesn't have the growth that you see especially in this stage in the cycle that you saw in the u.s., so i think the market is not pricing in anything anytime soon. i think the market found it more dovish than they are expecting. jonathan: i strugg

nejra: this also poses challenges for the euro zone.ok ahead to the ecb and its conference later. we look ahead to hearing from mario draghi as well. what do you want to hear from the tltro three program? ecb have been quite vague because it wants to test the voters on what conditions can be. conditions will not be as generous as they used to be for the first round of tltro. expect the ecb to provide much detail at this stage. the ecb will lay out a few options. i do not think they will really show their cards yet. nejra: with all the limited , does ithe ecb have actually have the tools to lift the euro zone economy from where it is now? or does it have to come from the fiscal side? >> the ecb has maxed out, meaning it has reached the limits of its tools in terms of qe. there are strong political constraints. the rate is negative, which is challenging for the banking sector. likee same time, it looks the cycle is quite close to its end. it looks like the ecb is going to miss its opportunity, which the next downturn will need to come fro

guy: george buckley will stay with us and talk about what is happening in the euro zone economy and get a focus of what is happening in the u.k. economy as well. the geneva international auto show is getting underway and really kicks off tomorrow and is one of the biggest events in the global auto industry's calendar. joining us from geneva is linda jackson. she is the c.e.o. of the french carmaker citron. ms. jackson, can i start off with the conversation that we've just left which is one that is focused on trade? if we were to see a resolution globally to the trade tension we've seen between the united states and china and with the euro zone as well, what impact would that have on your usiness? >> of course would have an enormous effect. we export vehicles and import vehicles and sell over one million cars in a year. if we look at europe, at the moment we're forecasting a market in europe about stable. of course all those things could impact it dramatically. the world could change from one minute to the next so it's extremely important we have some sort of stability to be able to do o

three hundred thousand young europeans coming to britain voting with their feet to get eyes to the euro zone every year to come and get jobs in london or in britain if we had the situation with one hundred to three hundred thousand young brits were having to go to europe to the euro zone to find work because we had high and massive unemployment then i would say there was a case this thing in the e.u. but the e.u. economy is failing the eurozone is probably going to another crisis a new player very quickly and yet these people in britain can understand why on a rational basis people would want to get out ok all right i mean let me go to georgia and keep going with this here george i over the last few months have been extremely harsh on to resume and her parts of her tory party but i want to be fair here more balanced here how is labor behaved through all of this have they acquitted themselves with on or indignity because you know they're just recently talking of a second to referendum which to me again is a slap in the face to democracy i mean democracy means democracy doesn't it one a vote o

wide minimum wage and she has little interest in a common euro zone budget her points are coming under fire especially from the social democrats to see the use coalition partner. we'd like to see more boldness in this debate aiming for a european minimum wage was part of our coalition agreement and we're sticking to that. view no fest america is facing criticism for not being the one to lay out germany's position but in a press conference today she framed the issue as a matter of politics not policy. i think it's very good that i think they've come as head of the c.d.u. posse has stated the c.d.'s position for the upcoming european parliamentary elections. in via come from. but without agreement in the government the french president may have to wait for germany's position which mccrone has been doing for much of his time as france's leader let's get over political correspondents a mechanic welcome michela how different are these two visions of your. well they are different in certain areas some of which we just heard in that report another one is a more fundamental one is that come co

600 ended up a touch hire just about 15 basis points yesterday's sentiment boosted, in part, by euro zone services pmi slielgs ahead of expectations overall a relatively sluggish start to trade let's get a look at european markets. yesterday the ftse 100 was the key outperformer in terms of the regional split right now ftse 100 flat on the day. the dax down about 30 basis points the worst performer. the bright spot so far this morning, the italian index, up about 11 basis points. let's get into the sectors i think it's quite interesting to see this morning the real laggard, the auto space. down about 90 basis points we'll look at what specific stocks are driving that. that's the worst performer of the bunch. at the top we have basic resources, let's head outside hold goods, oil and gas. one name to flag on a single stock basis, b.a.t. shares there trading towards the top of the stock 600. this came after investors betting the resignation of the fda commissioner yesterday might mean a rethink for the way the regulators look at the e-cigarette market an interesting single stock to look at.

which looks a little bit ominous how much manufacturing activity has not bottomed out yet in the euro zone as new export auditors continue to fall manufacturing activity in germany is falling to levels unseen says twenty twelve this is bad news for g.d.p. and business investment as firms are also less capacity constrained h.s.b.c. says that's this last year as you see it's looking pretty down you said that of course today some economic growth somewhere to support this model this picture. but do you do you actually need some growth somewhere what we've been seeing in the last couple of decades is this idea where you have profit less prosperity you don't need profits you don't need corporations operating profitably to create prosperity corporations can continue to operate at a loss and definitely banks can continue to make bad loans and definitely countries can continue to rack up debts indefinitely as long as you have central banks there ready to print money to help them roll over their debts and the central banks themselves are insolvent the federal reserve bank the european central bank t

buybacks but you know the real economy as you saw the manufacturing is declining rapidly in the euro zone in particular in germany. which is to produce produces every high end good in the world or. high tech product. but there's also signs of recession here in the us in terms of the meat space and the sort of retail sector anybody that has to interact with a human being but the services sector has actually been doing very well and that's probably why the rest of the economy is doing so badly as our frequent guest steve kena said you know the the fire sector finance insurance and real estate are suck wealth out of the economy they don't add to productivity slowdown in the huge services sector revenues in the major private sector services categories there was six point three percent in q four twenty eight thousand compared to the same quarter a year earlier to four point zero one trillion dollars not seasonally adjusted reaching for the first time four trillion dollars according to the commerce department so the united states has about a twenty trillion dollar economy that's twenty percent

to euro zone gdp as is the case in japan.n europe. tom: david kelly knows this chart. we lived it. i am just throwing it out. this is allied irish bank from another time and place. the the irish did, they had courage to clear the market, essentially000 two five euros per share. theyeurope have a fear cannot clear their troubled financial system? it needs to be more irish? david: what the irish did was very controversial. tom: they had the courage to get out front of everybody else and clear the banking system. david: they suffered a huge recession because of it and they took on a lot of responsibility of the irish people that was the responsibility of international investors. history is unclear whether they did the right thing. they took the tough fiscal medicine and made the tough choices, and the population put up with it so ireland has bounced back. the irish political system works relatively well to what you see in the u.s. and britain. there are logical choices being made by parties on both sides to keep us on relatively

food was laid off divisions in the sun our guest this week here in issues sprains foreign minister euro zone. counters he arms of a job should the trials confound the munsterman conference. in sixty minutes. every journey begins with the first step and every language with the first word published in the. new coaches in germany to learn german and one of her with him simple online on her mobile and free to shut down the d.w.p. learning course nico speak german made him see. her first day of school in the. first clinton lesson. and then the doors grand moment to run a joint direct attack on her churning but. you know we're interested you turned. around the ring in turn returns home. and extrude begin to slowly lead them to hosts who really know their stuff. with little to build and to finish. the party and chat with situations from around the world. lead groups every week dublin a. place. this is news africa coming up in the next fifteen minutes two weeks since i killed it dies smashed into southern africa at the autopsy of affected areas it was at last still stuck in a bridge too many people

coming up, signs of euro zone area economic rebound?s is bloomberg. ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. alix: this is "bloomberg daybreak." in the u.s., all eyez on me going. eyes one u.s., all boeing. eyes on brexit. industrial stocks pretty much flat. watching airbus in relation to boeing as well. -- the cableble rate up .6%. the soft brexit scenario getting priced into markets. you are seeing selling across the bond market. yields up by three basis points. the lowest level on the 10 year yesterday for the year. $16 billion worth of 30 year supply coming online. up .9%. crude th

our financial market correspondent who is standing by for us in frankfurt only both china and the euro zone losing steam is it all down to trade worries. it's not all down just a trade worries but trade is the biggest elephant in the room if you will consider the ramifications i mean there are already higher tariffs in place between china and the u.s. and the u.s. and europe and that's hurting business and also of course all that uncertainty of whether there will be a trade deal between the u.s. and china and there are also you worries looming with the united states with u.s. president donald trump threatening the e.u. with high auto import tariffs and after if there is a trade till reached between us and china that's the next thing that will cause uncertainty and all this uncertainty is leading to people postponing decisions or not making a purchase in the business world but consumers as well and that contributes to lower numbers in the trade back and forth well the e.c.b. certainly made some decisions but what fact plate into the facts not racing interest rates just yet and more stimulus.

inflation in germany has rebounded after three months to climb prices in the euro zone's biggest economy rose one point six percent year on year in february pushed upwards by increasing energy costs the after this after efforts by the european central bank to stimulate growth in the bloc. tesla is finally going mass market electric car maker said it would start offering a version of its mobile three in the u.s. enterprise of thirty five thousand dollars tesla how the original e announced the model three and twenty sixteen as an alternative to luxury offerings but the car still sold for an average of fifty thousand dollars it's too expensive for many customers to cut costs the firm said it was cutting retail cost by closing stores and selling more vehicles online. stay in the car industry where rival german automakers b.m.w. and dime no want to be want to develop their next generation self driving cars together they hope to stave off bigger threats than each other especially those coming from silicon valley the likes of google apple and co are trying to overtake the traditional carmakers

remember that during the financial crisis here in europe he decided to have interest rates here in the euro zone at his record low level of only zero percent because of that he has some fans mostly in southern europe but there are also a lot of people for example here in germany where been criticizing him and who have been asking for a long time you know to change this monetary policy so there are a couple of names now in the discussion yes vitamin he is the head of the german central bank for example then on the other hand we are hearing sometimes names from the former had of the finnish central bank all the current boss of the french central bank so yeah we don't know and it's going to be very interesting what's going to be decided down here very briefly can we expect any major changes in policy then what it is certain i mean we have to remember europe is in this situation right now my own dragon was just speaking about that if you moments ago where he sees europe in this difficult situation but there has to be somebody you know who changes the monetary policy so lots of work certainly to do s

board member told german newspaper developed the economic outlook of the euro zone should have quote everybody worried as the head of the finnish central bank on a kind of that's to succeed monitor argue at the helm of the e.c.b. in also said financial markets are still on breast imaging the negative impact of drugs it will have on the global economy. theresa may arrive in your church on sunday she might have prayed for a miracle to untangle the grex it impossible she has led her country into late last week europe granted the u.k. a brief reprieve but the e.u. rex's negotiator michel barnier a wants an end to the uncertainty so that the e.u. can move on to other pressing issues. short extension of the departure of do you k. choosing but do you get such an extension should be conditional on a pretty vote next week. of cups. we have done our best we are done no we're best no decision if you don't put this in. but as long as breck's it continues to be delayed the e.u. can't move on to focus to on other priorities brussels needs to come up with an effective strategy to counter competitio

i think a new prognosis for the economy in the euro zone that's expected and also for the inflation and of course these are key parameters for what the b. does in order to support the economy or to reign in inflation and it's expected that the forecast will be subdued it will be a lower forecast than before and that will be in line with basically everyone who is speaking out on economic prospects whether it's the bundesbank or the german government the o.e.c.d. or the international monetary fund and people in the markets are hoping for a hint that new long term credits loans to banks will be renewed this is an instrument and sharing that banks have enough cash and enough prospects for growth do you think that will also be a hint as to who could possibly succeed mario draghi at the head of the european central bank was it to. well i don't think he would answer a question like that directly i think he's asked that at every press conference and one of the colleagues will probably pose that question today but it's a question that one should level that the heads of government and state who w

what do you expect to hear about monetary policy for the euro zone >>. >> not a lot this is the problem in europe. the tool kit is looking pretty bare we're already in negative interest rates, unlike the u.s there's been no normalization whatsoever. we are looking at minor changes, and then promising to keep interest rates at low levels for an even longer period of time. or perhaps what the market is really hoping for is to hear that there's some more liquidity on its way these long-term refinancing obligations, these cheap loans they've provided to the banking system, they are set to roll over in the next 12 to 18 months i think that is the most we can hope for really is to hear that they -- those loans will be extended >> the eocd has also warned that the u.k. faces recession in the event that they can't get a deal on brexit. how do you plan around the uncertainty surrounding brexit is. >> well, it's a very critical week next week next tuesday the prime minister is going to put the brexit vote that she has negotiated back to u.k. parliament. we'll see. she needs another concession fro

as going through a really kind of fragile pattern, i would also talk about uncertainties in the euro zone area as well as in oecd my othertes heavy oil. they need electricity supplies to get the oil out of the ground, and so the iea has spent a lot of time looking at this and says this could be a real challenge for the oil markets. sfla there's a direct interplay there, and i think that is something that would be occupying u.s. policy makers in a big way, but there is some good news in terms of security of supply, which is that opec producers in the gulf region also produce this heavy crude oil, and they actually have quite a lot of spare capacity, the iea is saying today. because they've been cutting back on pruksz, countries like saudi arabia and iraq, you know, they do have the spare capacity to step in if as is quite possible, we see a really, you know, precipitous drop further in venezuela, and there are others out there willing to step into the gap they notice the russian exports of crude oil to the united states have actually increased quite significantly in the last month. russia

side not the euro zone side it seems to me nobody in the house of commons knows how to -- and what theylly want. they can't agree on anything, and they have never really understood, i think up until now, that, you know, you cannot just decide yourself the future relation between the u.k. and the e.u. i mean, that always will involve, of course, the rest of the e.u., and the e.u. has to agree to a deal. so far there's one deal on the table that was negotiated between the british government and the e.u. now, if that deal doesn't pass, then it's all completely open. they could try to have a norway agreement or something like this i'm sure the e.u. might agree to this, or they could even revoke. i think revoking brexit at this stage would be hugely divisive, even more divisive than doing brexit for the u.k. government and for the u.k. as a whole. >> thank you for joining us. we appreciate it kate rogers has our headlines. >> hey there new this morning indonesia is cancelling a major order for boeing 737 max planes. indonesia's international airline says it's calling off a nearly $5 billion

we continue to look at the euro zone. the bloomberg, you've got a look at the euro zone pmi. we did see a contraction coming in for the region. the weakness again mirroring sentiment we've heard from the european central bank's this month. we continue to see weakness in the european economy. gina, when we talk about what is going on the global economy, we talk about this synchronized global slowdown and contingency data out of europe. ina: europe is the weak spot the global economy, and this seems to have taken investors somewhat by surprise. six months ago everyone was focused entirely on china. what is going to happen in the trade relationship. carol: and now we are just focusing on europe. gina: we talked about this as a major risk to the earnings trade going forward because analysts were marking down expectations for companies exposed to china at roughly five times the pace. at the same time, stocks in the s&p 500 that are exposed to europe are trending at a very big premium to their long-term average, whereas those exposed to china were trading at a very big discount. we

we see initial signs of stabilization in the euro zone.hink if that sort of develops further and we feel the worst is behind us, that will be positive. let's carry--manus: forward on that view. briggs it or -- briggs it is t is perhapsrexi under-spoken about. we focus less so on its impacts on europe. monica: absolutely. i think that is why, even though we won't have the third meaningful vote, the end of the week will be critical, where european members will come together and decide the degree of the extension. we don't believe that really it is in their interest to not grant an extension. a no deal messy exits from the eu is not something that would be wanted on either side by the majority. we do think there will have to be a large, meaningful extension area again, it really comes back to the question of what will be done now. we've had over two years of very little movement. we don't want a situation where this continues indefinitely as well. yous: ok, monica, thank very much for joining us this morning. bank commercial chief economist.

took his growth rate for the euros down from 1.72 1.1 percent per that is a weak number for the euro zone pair tennis or experts plunge 20 percent. last week, china's economy is also slowing down. the fed riveting and basically changing everything. now, not even expecting a rate hike this year. should we be worried about that? is it like a oops moment where they are saying this is worse than we thought, the slowdown? >> i actually think is positive. it shows that the fed is very attuned to the current state of the world. i think they were on a track that had been established in a pathway based on you know, rear looking statistics.i think the markets of the world gave a signal. and a lot of input coming from all over the place. the smartest people in the world don't know everything. they need input from outside. i think the fed very intelligently responded and adjusted their policy to the realities that the markets were indicating and i think that with the adjustment, look at what happened. stabilization in the market, the markets come back to where they were, your stabilization of things.

making a return to the long-term debt markets for the first time since it was bailed out during the euro zonerisis. it is selling 10 year bonds after the accrediting -- the credit rating was upgraded. that means the borrowing costs are at their lowest level in 12 years. the country has been through three bailouts, and austerity. and d finally y a beachside rest in california is pitching itself as a retreat for tech workers who are starting to feel old. in silon valley that can start from age 30, a treatment called modern elder has coping workshops and yoga while discussing intergenerational collaborations. many workers feel behind as they get older, someme firms havee fd threats of aged from nationon lawsuits. the retreat's creator came up with the name after being referred to as an elder at 52 years of age by his twentysomething colleagues.. -- guestsly andnd pay apply and pay board and what they call tuitition. i dread to think at what age we call journalists elders. >> if f we call people elder at the age of 30, where does that leave us? thank you for that, that is steve carell. that is it

used to spend seven euro zone week on firewood now she only spends a third of that. she has already bought five sheep with the money she saved they provide the family with wool and meat. and her two school aged sons can use their time to study and do homework as they no longer have to help gather firewood. for danes spends her afternoons in the women's club there she and other villagers create handicrafts together another money making venture. what they're making here gets sold to tourists who come through the village on their way to volcanoes national park which is just four hundred metres away. the reduction in wood consumption is also relieving the pressure on the remaining primeval forests an important step in preserving the habitat of the endangered golden monkeys. that sold for three thousand this time we're back next week and in the meantime don't forget we're always pleased to hear from. right so last at level three thousand d w dot com the safe. to. conclude. how can a country's economy grow harmony with its people and the climate when there are doers look a