these roads lead west to atlantic europe, east to central europe, north to great britain and south tohe mediterranean world. most crucial of all, strasbourg sits on the rhine river between two of europe's strongest historical rivals-- france and germany. strasbourg really occupies a very special kind of position. of course, it's bounced back and forth a bit between german and french influence, and, in fact, 500 or 600 years ago, it was really falling within the influence of the german empire. and then as the french empire was expanding and in conflict with the german empire along the rhine, it came under french influence. the franco-prussian war in the 1870s, however, was partly driven by german efforts to expand to the west bank of the rhine-- that's where strasbourg sits. so it became formally a part of germany at that time. and then in the 20th century, it's fallen back under french control. those original cultural and linguistic ties with germany are still there, so you have a dialect that is a germanic dialect, but it's now, of course, formally a part of france. and this particul

for the europe side. and last night when we were having that meeting, i think the boys knew that believing was the most important thing and i think they did. >> you've won a couple of major

for the europe side. and last night when we were having that meeting, i think the boys knew that believing was the most important thing and i think they did. >> you've won a couple of major championships. you told me earlier in the week, it was very difficult to watch

people from all over europe were beginning to come to this honeypot.t's more like a gold-mining town, in effect, than a port city. but it grew rapidly. its population charts just show its rocketing, spiraling growth-- people drawn, in the boom of capitalism, to jobs. narrator: for almost half a ceury, liverpool maintained its position as one of the most important harbors for britain and europe. but in the 1950s things started to change. man: one of the first things that began to happen in the postwar period was that the traditional trade of britain, with its empire, began to decline, but by the 1960s, things were changing very dramatically. narrator: just as the empire was collapsing, the rest of europe was challenging england. liverpool was even more marginal. by the 1970s, thousands of people had lost their jobs. ♪ well, i ain't got no money, ain't got no job ♪ ♪ lord, i could do with a couple of bob ♪ ♪ oh, yeah. narrator: politicians struggled to find solutions. the situation on merseyside can be catastrophic, and i don't mean catastrophic for the

it's still very much a marginal, peripheral, part of europe. remained agriculture, tourism, rather than manufacturing. narrator: manufacturers like gillette were leaving instead of coming. translator: why did the gillette factory leave andalucía? it left for the opposite reasons to those for which it came here. why? down through the years, as a result of their own efforts, the gillette workers obtained, little-by-little, some social advantages. and now, this multinational company prefers to leave andalucía in favor of other countries, such as turkey, poland or russia, where the salaries are very low, and where it can make profits comparable to those it made during its 27-year stay in andalucía. narration: in other words, the expansion of the european union has created new hinterlands-- some even closer to the european heartland, with even cheaper labor. they are competition for remote regions like andalucía, despite the huge investments in infrastructure like the train. if the high-speed rail from madrid to seville symbolized the hopes for anda

get i mean money for europe you're going to have to get the u.s. sure canada england brazil china all agree are there you know basically. and there's not a snowball's chance in you're going to get united states to say we should leave bunny europe when they can't get their own act together when we have our own crisis you're just not going to. you're going to solve its own problems and so the i am no thanks to the next to barney frank the u.s. actually has signed a one hundred billion dollar loan commitment so the commitments that i draw in the money is different i agree with that i mean for them to use that commitment for europe. that would be a real political nightmare. i don't think i don't think they'd want to you think might argue actually. it would create i mean it would be able to get under but in the us for years john i think and you think it might depend on the election on the outcome of the election if obama wins with that make it easier for them have to put in the bar when the us is actually signed the agreement we've agreed to do it we ju

money for europe you're going to have to get the u.s. sure canada england brazil china all agree for their you know basic allotments and there's not a snowball's chance in ames you're going to get the united states to say we should live in bunny europe and they can't get their own act together when we have our own crisis here just not going to happen. you're going to solve its own problems absent the i.m.f. thanks to a nice divided frank the us actually has signed a one hundred billion dollars loan commitment so the commitments that are drawing the money is different i agree with that i mean for it for them to use that commitment for europe. that would be a real political nightmare for the i.m.f. i don't think i don't think they'd want to test that they think might argue election creech that it would create perfect and i mean it wouldn't be able to get funded but in the us for years john i think would you think it might depend on the election on the outcome of the election if obama wins that make it easier for the i have to put in the ba

what does europe's younger generation make of it all? what does europe mean to them? >> here are some opinions we heard on the streets of madrid, brussels, and berlin. >> ♪ berlin berlin >> europe is my home. it is an opportunity to be part of many different cultures in a single region. >> peace. >> for me, it means a lot. i am a student and i realize that after i'm finished, i can travel in any part of europe by what do. >> i feel more european than german. europe is a good thing. >> we are all in it together. that is not always easy. >> i feel that europe is the most important step spain has taken in a long time. >> a single currency -- >> europe is very important and crucial in the long term. disaster in the short term. >> opportunity, jobs. europe is a very advanced continent. the living standards, in general, are higher than in spain. >> i would like to see the european union for their united. spain could learn a lot from europe. i hope we continue to develop -- further united. spain could learn a lot from europe. i hope we continue to develop. >> ♪ >> europe is

. >> another europe is necessary.ple. the ones who do not have anything. the unemployed, people who demand a new reality. people to do not have anything. >> it is spectacular but spectacularly poor. the government had tried to soften the spending cuts but now it needs a bailout and a towel -- will have to have further cuts on to those already made. everybody here feels a crunch is coming. >> what we want to see changed is criticizing the workers. many people are losing their homes. many people cannot afford to buy food. that is why we are reaching out to all parts of society. >> people do not want to hear about bailouts or angela merkel. people want to talk about the cost of a bottle of gas, petrow, madison, mortgages. expectations. they want to talk about their problems and that is what we do. >> in madrid, they know the move by the ecb opens the way for spain's debt to be bought on a massive scale, remove it -- removing the threat of imminent default. but is dependent on conditions and the conditions will be set in

of the trouble in europe. so like it or not, and no matter how we got in this mess, we've got to help solve it. >> jonathan, i made the point earlier that -- >> we're all in this together. that's the dot, dot, dot of what sally was saying. we're all in it together. we got to bail people out, otherwise reality might issue god forbid, assert itself. it always does. all these bailouts have failed. talk about another bailout for greece, greece has already been bailed out two times in the last two years! we have ongoing bailouts to tracy's point, of freddie and fannie, gm, the taxpayers have lost billions. it creates the moral hazard that we talked about, going back to 2007 when this began under the prior to the president. it needs to stop and people need to take responsibility for their own actions. individuals and countries as well. >> wayne, if the imf does for some reason, i don't think they would, pull support from europe, wouldn't that have a negative effect on the united states? aren't we motivated to be the

the basic problem in europe and indeed in other countries of the world is of course that there is too much debt both private and above all public and nothing today and nothing in any other future occasion he's going to make that go away even budget cuts are not going to make the essential problem go away which is that the states are too heavily indebted and even meet various so-called austerity programs which should be imposed i'm not going to produce a budget surplus which is the only way of repaying debt unless of course there is economic growth and there's a final point this is the european union for many decades now it's played a game of smoke and mirrors whenever there's a crisis whenever there's a problem to be solved it rearranges the institutional front. now germany's highest court has cleared the way for a fresh five hundred billion euro bailout fund for euro zone countries written with debt they had rejected iraq of legal challenges aimed at preventing the crisis fighting tools from becoming a law critics said the planet committed to potentially unlimited funding of eurozone

is ok you know but you only need a united europe to make sure this peace we can do together and that there's no borders is all right but you know having just of small group of people over liberal people in brussels making up how we how we spend our money the socialist sort of popularity in the past weeks and all those support has waned slightly they're still expected to increase their seats in parliament we can see in europe. protests. are becoming less convinced of the rationality of continued austerity policies and begin to vote for parties who oppose the logical for stereotypic we've seen it in france we've seen it in regional elections in germany which makes america very worried about the elections next year and how the dutch vote could very well tip the balance of sentiment among citizens of the so-called core of the euro zone tester sylvia r.t. the netherlands. but just fall in a plane crash in russia's far use has risen to at least ten after a four year old girl who survived the impact die before she could be taken to hospital fourteen people including two crew members were on

>> up next, we're staying in europe.ll eyes on mario draghi as rumors spread that the ecb may be ready to unveil unlimited bond purchases. full details after the break. >>> okay. welcome back to the program this morning. here's what u.s. futures are doing as we await the ecb's key meeting later today. dow jones industrial average higher by just about 80 points higher. nasdaq up. arnub still with us. a final thought as we get closer to the ecb meeting. you're seeing the positive tone in markets today. is this going to be a rumor sell the fat kind of move do you think? >> i think mario draghi, not unlike ben bernanke, will say things that are comforting and will help support the markets in the short term. i think after that, after a little while it's going to become another selling opportunity again because the tensions are clearly there within the ecb governing council with the bundus bank. the german government is at the same time being somewhat supportive of draghi and somewhat supportive of weedman. the tensions betwee

embassies in muslim countries in europe they're calling the holy war. london saw similar demonstrators outside the u.s. embassy for. friday prayers and up to a thousand again on sunday tempers flared and flags were burnt. analysts point out the small scale of european protests compared to those in the middle east but they say local islamists are using this to recruit new members a worrying sign. as i say mainstream extremists want to a better word groups are looking to exploit this in order to encourage young men to come and join them and try to get into a happens to protest. extremists demonstrations and that's always there it's be concerned about and it's already prompted a backlash as u.s. embassies all over europe come under siege from angry muslims a phone right islamophobia group in germany says it wants to place on a screening of the film the innocence of muslims the pro-choice line citizens movement say it's a question of art and freedom of expression but germany's interior ministry has accused them of recklessly pouring oil on the fire it's a f

now europe finds itself having problems paying back the borrowed money. but does the eurozone have more debt than other economies? >> who has the most that? the usa? >> argentina. >> greece. no? don't tell me the u.s.. >> at 230% of its gdp, japan has highest rate of debt in the world. the usa comes in second at 103% of gdp. then comes the eurozone in third place. china's debt ratio is well below the international average. however, for individual european countries, the numbers are much worse. the gdp of some eurozone countries continues to shrink and unemployment is high. which countries have the highest unemployment? >> it the united states? >> i heard it was spain. >> china? >> of the eurozone has the highest unemployment rate with 11.2%, higher than the u.s. and china. but europeans without work don't have to sleep on the streets. eurozone countries provide relatively generous assistance for the unemployed. but europeans fear they won't be able to afford this for much longer. eurozone countries have to compete not only with industrial giants like u.s.

tonight, we go to it europe. first the prime minister of italy, mario monti. >> we are all part and parcel of a wider thing called the euro zone and the european union. and it is not enough-- it is imperative but it is not enough that each of our countries puts its own house in order. we also need to have a better governance of the whole, not only of the parts. and this is happening month after month because the european union as a whole is improving. >> rose: and then the foreign miminister of france, laurent fabius. >> we have to fulfill our role, and today we do not. but if this massacre continues, i think, first, it will have terrible effects on the region. and maybe-- well, our principle, as evidence saying, is to comply with the international legal rules. but the time comes where the human pressure is too strong. and maybe the time is coming. >> rose: in order, it may be a time that you have to act, even though you cannot get security council approval? >> it could be. you know when you have such massacre, y

into the west of europe well north of europe where the welfare systems are significantly better and into the reform welfare you know you're always going to have an immigration problem because it's economic immigration and that causes disturbances to cultures. still ahead from economic immigration to what you could call capital immigration despite that trend in some debt stricken countries none have left the e.u. so coming up does our guest think that anyone will but first your closing market numbers. i mean so should the u.s. city in europe on the host of the twenty four g. in the winter the figure. thank you. so much. thank you. dog days are. right days it. comes. to the sun it's so true. download the official application so choose your language stream quality and enjoy your favorite. t.v. is not required to watch on t.v. all you need is your mobile device to watch our team any time any. welcome back before the break our guests name the problem of economic immigration where a people move for employment within the u.n. there is also of course bank deposit immigration you could call

says europe didn't even attend donald. is used to. what during this past year the european commission didn't take a single step to resolve any of the present disputes through dialogue while we have always insisted on the open discussion and many undecided matters time and again both gazprom and the russian government invited the to start a dialogue but were ignored. here's a quick look now at some other news from around the world in a world update in china and the japanese protests escalate as police had to use force to disperse crowds japanese businesses factories and vehicles have been attacked in major chinese cities the demonstrations were sparked by japan's decision to purchase a chain of disputed islands in the south china sea the archipelago claimed by both countries may be sitting on vast gas reserves. eight police officers have been killed in a roadside mine explosion itself eastern turkey for displaying the blast in kurdish insurgents are taking advantage of the chaotic situation in neighboring syria to step up their attacks

in europe the people of netherlands go to the polls with euro skeptic parties hoping to be backed by those fed up with helping neighbors deal with the debt crisis we've got more on that the full story in a few minutes also looking at as well the controversial pussy riot punk gets a boost earlier on today from what russia's prime minister dmitri medvedev who their own pictures this is these are the right pictures who says keeping the group members in jail for the length of this sentence will put his state. or i back now to our top story discussing those attacks to those u.s. embassies in libya and egypt we're talking earlier on to calling cavalli is joining us on the line is professor of political science at field state college west virginia we got cut off on our prime there sort of color so the lines a bit better now i'd like to pick up another question in today's statements the reactions been coming in thick and fast barack obama and hillary clinton said the tragic incident in north african countries quote shouldn't jeopardize the development of friendly ties between them and the u.

welcome back before the break we were talking about europe let's talk about responses to europe from u.s. presidential candidates or their proxies mitt romney's economic adviser recently wrote an op ed in a german newspaper applauding germany's austerity measures advising germany not to bail out greece and on the other side larry summers who worked for the obama administration was one of obama's advisors in that his presidency early on in response are not exactly in response but in similar timing in the washington post wrote his own op ed proposing of course the opposite a bailout and massive spending plan for europe so is this at the end of the day just a political election year strategy disguised as economic analysis and economic advice and what does that do for the presidential hopefuls we're going to talk about it also while we're on them we know that mitt romney is a little weirder we know that maybe americans have a hard time relating to him for evidence just look at his saturday night live version of his sons let's watch that. well we connect with the younger voters are over t

a member of nato but not a member of europe. >> why not? they been long term. i was speaking about meade union term, why? a., because they are not excretely repairs for that. andy know we have a lot of conditions to fulfill, and they're not filling all. and one must not forget that. they are nearly at war with cypress, can which is a number of uranium. how can you have two members of the same community refusing to recognition -- >> that's theig thing. get rid of the cypress issue. >> you have the cypress issue, which is obvious, and you have the implementation and another question. tusche is a mation i was in country, a block the country. >> rose: and an influential company. influential growth rate. >> and the discussion, when we're discussing about a new country joining the european zone, there are two conditions. a, this company doesn't want you tow-- b, is it possible for the other countries to accept. because of economic know reasons pb my answer would be for the short term, no. >> rose: ar concerned about islamicist governments or persons about croat that

into the west of europe all north of europe where the welfare systems are significantly better and until we reform welfare you know you're always going to have an immigration problem because it's economic integration and that causes disturbances to cultures. still ahead from economic immigration to what you could call capital immigration despite that trend in some debt stricken countries none have left the e.u. so coming up does our guest think that anyone will but first their closing market numbers. would be so much brighter if you move. from funds to pressure. from stocks on t.v. don't come. welcome back before the break our guest named the problem of economic immigration where people move for employment within the u.n. there is also of course bank deposit immigration you could call it where you see bank deposits immigrate from say greek banks outside of the country greece of course an example of a very debt stricken country with a program that has put it you could argue on a deflationary spiral down despite this and problems like this in other countries we haven't seen an accident des

into the west of europe well north of europe where the welfare systems are significantly better and until the reform welfare you know you're always going to have an immigration problem because it's economic integration and that causes disturbances to cultures. still had from economic immigration to what you could call capital immigration despite that trend in some debt stricken countries none have left the e.u. so coming up does our guest think that anyone will but first their closing market numbers. here is mitt romney trying to figure out the name of that thing that we americans call a dollar. i'm sorry i'm just a guy who cares an awful lot but you sir are a fool you know what that is my terrorist cell right now wants us to defeat terrorism the only liberal democrats. can steal the support of. you know the group are going to distract us from what you and i should care about because they're profit driven industry that sells a sensationalistic garbage because of breaking news i'm having martin and we're going to break the spell. welcome back before the break our guests name the prob

to discuss this i'm joined by ben eris he's the editor in chief of business new europe and erich krauss he's an independent asset manager all right first gentlemen let's go place your marker this is our the beginning of our program eric in a few words where or where is oil prices going to the stable or up. it's going to be stable next couple of years. ok what about the implications of that later china harder not so soft landing. it fly. it's slowing down by this because it's maturing i mean this is a natural evolution so still growth growth but not quite as fast a commodity prices are probably going to be under pressure for the next because of the bends answer on that for oil and that when i think it'll be probably weak for the next eighteen months then strong. again it's it's a function of the global economy is slowing down and so that's going to put and ok my favorite topic eurozone crisis eurozone crisis been delays but only for a year and then it's back ok there's optimism euro zone it's not predictable it's not an economic question it's a political question the europeans can save t

europe needs a new thinking. when you think about the crisis, and we all think about the crisis, have we drawn all the consequences for our action? when we speak about globalization, have we considered its impact on each of our member states? the stopping point is to draw all the consequences of the challenges we are facing and we're fundamentally chasing our world -- and in changing our world. the fundamental point is to stop trying to answer the questions of the future with the tools of the past. since the start of the crisis, we have seen time and again interconnected global markets are quicker and more powerful than the fragmented national political systems. this undermines the trust of citizens and it is fueling populism in europe and elsewhere. the reality is in an interconnected world, europe's member states on their on are no longer able to effectively steered a course of events. [applause] but at the same time, they have not yet equipped our union with the instruments needed to cope with this new reality

i mean, europe is slow but we don't expert that much to europe. our financial system looks very strong. and i think u.s. consumer confidence at this stage is somewhat resilient to all these stories coming out of europe. i think it's a bigger story for europe than it is for the united states. >> in the united states we have a different set of worries. warnings from big american companies about their future earnings. we ended the third quarter and already heard from fedex, we heard from caterpillar, big global companies that are citing europe. caterpillar is citing china as well. what are you expecting out of the earnings period that we will begin to see in the next couple weeks? >> there is a slowdown going on in the global economy because you have this recession in europe then you have a slowdown in china, which is more significant than i think the chinese gdp numbers suggest. and that's rippling through to countries like korea and taiwan and japan. a so big global companies are being hurt by that but more domestically-focused companies in the uni

i card see that happen the economic situation in southern europe this dire every need cation we have is that it's getting worse if you probably sub you will gobble up is government debt to a god limited extent it will take away the said four cuts it will not enforce it. meanwhile the european commission president says the e.u. needs to integrate into a federation of nation states in order to be saved from the euro crisis however a number of experts believe the bloc should be heading the opposite way towards dissolving in order for member nations to recover are to serve first picking up the side of the story. a federation and the perp political integration that's what the president of the european commission. has called for to pull member states out of the euro crisis. well the coals for the member states to hand move power has really ruffled some feathers here at westminster and has caused anger amongst us skeptics who say that less europe and not more is the answer now is evidence of that your skeptics point to figures that have been released for the first time since one thousand ni

is ok you know but you only need a united europe to make sure this piece we can do together and that there's no borders it's all right you know having just of small group of people over liberal people in brussels making up how we how we spend our money the socialist sort of popularity in the past weeks and all those support has waned slightly they're still expected to increase their seats in parliament we can see in europe. are becoming less convinced of the rationality of continued publishing begin to vote for parties who oppose the logical for austerity we've seen it in front we've seen it in regional elections in germany which makes america very worried about the elections next year and how the dutch vote could very well tip the balance of sentiment among citizens of the so-called core of the euro zone juster sylvia r.t. the netherlands. right let's get the latest the business news and this time. with the update for us hello vacated good to see you so by all accounts it's a busy day for the finance world what do you have for us this hour absolutely and we always sing gainst have a