europe or china? >> in the last few months you've seen european buyers -- if you go back to preinvasion you saw a record pricing in november and december 2021 and you see a lot -- that does not mean that will be the case this winter. ultimately some of these issues will be political. at this point europe is the front runner for these problems by importing record amounts of lng in the last six months. kailey: speaking of the politics of energy come in germany there were plenty to phase out nuclear power by the end of this year and now you have the chancellor talking about how they might need to keep those plants running to have those energy sources given the constraints they are facing on the natural gas side. how much can nuclear be a backstop? >> nuclear can be weather dependent. it has been extremely hot. nuclear provides reliable power but it is not the answer. the fundamental problem with europe is the entire system is meant to take a lot of pipeline from the east and not the other way around. kai

and this united europe was born as a peace project with in urine ducklings was. it's objective lot was to ensure they would never again be war between its member states. even today, it is up to us and to continue to develop this promise act piece by enabling the european union to safeguard it. security its independence, and it stability from host also in the face of challenges from without the lessons of garbo robbers. madame on ladies and gentlemen, as europe's new pieces, mission was worthy mice and all that is the rights of robbery. mosul shall invest members of the public expect if you are a bosa west anti mister far content. luckily, here it is so far a stroke of good fortune that the presidency of the council of the european is currently being held by the check republic, which is a country which has long since acknowledged the importance of this mission and is steering europe in the right direction wonderful, go check yas, germany's full support for this and i'm looking forward to working together with prime minister fiala pearson to find the right to europ

that's another big problem with europe. kailey: it is so striking data to look at that $900 figure next equity markets gaining in europe on the day. we are also gaining on the day in the u.s.. so volume is lighter than usual. waiting for chairman powell speech at jackson hole. a real gain led by technology but the nasdaq 100 up. chinese tech edr as well, the dragon china indexes up after a report of dow jones of the u.s. and china getting closer to an agreement on auditing those firms in hong kong. i didn't bother including anything in the bond market. literally we are going nowhere, we're waiting for chairman powell. it's a weaker dollar on the day. guy: but only just and you do have to wonder what the reason for that is today. i'm not sure the market signals really are. the only signal that's really worth watching here in europe right now is what's happening in the power market. their ongoing concerns about what the russians do with piping that gas into europe. it's reaching into the market in such a big way. the scale of

delivers 50 billion to europe to europe and no one would have noticed the loss, you know what they sayn the economic crisis was so serious. well, there it is, because it is global, so, uh, economic, so compared to 2014, production decreased by 90 billion and gazprom did not smoke this one gas is, by the way, a certain mistake to think that they are simply technically reducing its production, closing old wells, deposits, introducing new ones, waiting, more precisely, for the growth of the economy, then introducing new ones, this is a natural process. volumes of gas, but prospects in the future, that's what you and i are talking about. and what will happen next if they know that they will win? well, how do they think, that's why we should also understand it? let's assume that the red lines were crossed and such europe refused completely, does russia have anywhere to export, well, even in the conditions that they reduce the production of e-e for the domestic russian audience, they say that they say asian countries, china , we will find other countries and so on, can it replace europe and

also, gas that gazprom supplies on europe to europe 50 billion, if no one had noticed the loss of lifeay. and in 2015 , when the economic crisis was so serious. well, there it is, because it is global, so it is economic, so compared to the 14th year, production decreased by 90 billion, and gazprom did not fueled this gas, by the way, it is certain it is a mistake to think so, they are simply technically reducing its production, closing old wells , fields, introducing new ones, waiting, more precisely, for the growth of the economy, then introducing new ones - this is a natural process . perspective in the future , this is exactly what we are talking about with you. and what will happen next if they know that they will win? well, they think that way, so we should also understand it. i think yuriy. well, let's assume that the red lines europe refused completely, does russia have anywhere to export, even in the conditions of the fact that they are reducing production, for the domestic russian audience, they say that they say that the countries of asia, china, we will find other countries

the countdown is on in europe. this is bloomberg markets, european close with guy johnson and alix steel. ♪ guy: 30 minutes to close in europe. the energy market is doing well, energy stocks arriving quite nicely today in europe. the norwegians are having a good day. health care sector is -- has a certain drag on the market, astrazeneca, the euro is up but the dollar is down. after that week pmi data we got on the services aside from the states, we are still below parity, which is worth bearing in mind. the story we are so focused on in europe, what is happening with gas prices. big move yesterday, the trajectory continues to be more elevated. that is europe's big problem. kailey: we saw -- thought europe's problems were bigger than in the u.s., our pmi data very weak. you mentioned that composite number coming in the lowest number since may 2020, second straight month of contraction. it looked like we would be resilient in the face of that, s&p rose .5%. we have given back that game, down .1% on the s&p 500. the e

. >> the countdown is on in europe. this is bloomberg markets: european close with guy johnson and alix steel. guy: the european map is green it, in reality it isn't. this story is all about heat. it's all about too much heat, how hot can it get any europe? that story will develop. it feels like we are in a hiatus. we are waiting for the date it to come through. we are waiting for news that they will close for traffic. we've got every single sector in positive territory. even the euro is catching a bit. despite the problems in italy, the downgrade could be coming for italy. both on the economic front and the global front, we will see s&p do that. we've got that story continuing it to develop. we've got the euro-dollar this big. this is about what is happening with energy costs in europe. this continues to track higher day by day. you are already seeing demand in europe. prices have dipped a little bit today. the cost of energy is up fourfold. that is going to have an industrial effect in europe. >> that is a structural

i would like a cartoon to win in the window to europe animation competition .tyana kiseleva, and in documentary films, fire was the best. the yanov prize named after savva kulish was taken by the painting vyborg its own shore by ashot jazayan. it is dedicated to the residents of the city hosting the festival. they are happy people who live in their hometown and change this year's public space and every day they live in this, well, a beautiful city, they consider vyborg their own coast. they chose their shore once for the rest of their lives, and this choice, the completion of the festival, the window to europe, work begins. overseeing the next year, the russian film festival will open its window again in august 2023, formulating its new forecast for tomorrow. one of the most interesting programs of the 30th anniversary festival window to europe 30 years in 3 sessions alexei teacher's walk makarov vladimir khotinenko and inadequate people of karimov's novel three iconic films that won here in vyborg in 1993 in 2003 and in 2010 we met here at the festival with al

as a result of economic emigrants, europe will increase europe began to buy more lng nord stream, which provided the eu with significant volumes. now only 20% is loaded. gazprom can not get equipment due to sanctions last week, experts noted that the volume of lng regasification in the eu has decreased. although previously everything time rising europe is now called the premium price region. here is higher than in asia want for a long time. everything was smooth, on the contrary, spot gas prices in europe after the retirement of compressor capacities. on nord stream, it is above $2,000 per 1,000 cubic meters. in asia, of course, prices are also rising in line with european prices. september futures on the jepan index, korea marker, which reflects the spot market value of cargo shipped to japan, south korea, china and taiwan, rose to $ 1,600, although the debt remained at the level of $ 1,300 1,400 prices in europe have become so attractive that exporters sometimes even tear up already signed contracts, pay a penalty on them, sell their goods in the eu and still remain in the analyst's p

the council of europe has a parliamentary assembly that unites members of the council of europe fromember states and members of local parliaments. in general, at the time of the creation of the council of europe, it consisted of only 10 states, but now there are 46 of them and the council of europe stood on the on the basis that any country on the continent can become a member if it is ready to guarantee the basic rights and freedoms of its citizens, and for this purpose in 1959 the convention on human rights was adopted to protect which the european court of human rights was created well, still , any citizen of a member state of the council of europe, a citizen of a member state of the council of europe can file a complaint against the state. ukraine became a member of the council of europe in 1995, a year earlier than in russia, which joined in 1996 and very much it was important for us when the russian aggression began that the council of europe became one of the few international organizations that really started to do something and not just limited itself to expressing its conce

moment, which, but has always been, uh, has always always been obvious and in the history of europe this has happened more than once, if we remember, and how many there were in the history of europe attempts to unify europe and then means the destruction of this association, it always came down to one thing, that there was a part of the countries that chose a certain enemy and opposed , opposed itself to this, so to speak, the enemy and there was a common europe that called for the fact that well, listen, let's agree and be like it was also in the 17th century, i mean. and the thirty-thirty-year war there and, uh, there were a lot of examples when europe tried to agree on the results of some such terrible conflict, but in fact, what is happening now from the point of view of an ordinary european there is a terrible conflict. he suffered with his house, he suffered with his salary. he got hurt by everything. everything, it falls on him and a simple european. wants one. let's, once again, for the fifth or some tenth time in the history of europe, we will agree that we should perceive

quite countdown is on in europe. this is bloomberg markets "european close," with guy johnson and alix steel. guy: 30 minutes until the close. this is what prices look like. european equities are hanging in there. energy doing well. oil prices are higher, but we are seeing a significant hit in the health care sector. there are fundamental reasons for it. we will talk about gsk. that is what is happening there. the crew price is where you want to focus your attention. crude beginning to roll back a little higher. 98.54 is where we are tracking right now. i talked to damien courvalin from goldman sachs. fascinating where he sees u.s. gas prices going. then the story in europe from an energy point of view is this. french power prices -- this is one your head -- worth of six kilowatts an hour. there is talk of them going significantly higher than that in winter. these are records that are being toppled on a daily basis, and this is going to have a meaningful impact consumer confidence, and a meaningful impact on industry

. >> the countdown is on in europe. this is bloomberg markets: european close, with guy johnson and alix steel. guy: 30 minutes till the close, this is how indices look europe, up by .3. we are watching what is happening in the u.s. we are getting a lift. take a look at the demand side, there is no coincidence the european tech stocks are leading the charge in europe. the u.k. 10 year ahead of the bank of england, we are certainly seeing a move higher in yields, watching prices under a little pressure, so we are down. we are watching the bank of england tomorrow. are we going to get 50 basis points? probably the move driven out of the space we are watching carefully. obviously, the reaction post what happened over with the ism data coming through are similar to what we saw yesterday. probably one of the most interesting story out of europe right now, what is happening with our prices? what is happening with the rhine river and other europe rivers? the drought is calling rivers to come down and france said it has caused

here is what europe looks like tonight. because this long, hot summer gives way to what officials worry could be a bitterly cold winter. skyrocketing energy prices have put europe -- what is described as a hybrid war. russia uses resources uses resources "like it does food." food prices have doubled, coal prices have quadrupled, and natural gas, now seven times more expensive than last year. >> turns out if you don't have cheap natural gas, you can't run the continent. having a graduate degree in the beginning of a city in the united states come he might have been shocked by this, but fossil fuels were on their way out any day now! he met a floppy because our own -- you might have thought that because our own leaders have told us that for decades, that the future is here! as recently as eczema -- as recently as next month, the world economic forum says -- $1 trillion in economic costs by switzerland's renewal, but this might not shock you. they had no clue what they were talking about. they knew nothing about the subject, s

, western europe could be impacted as well. if you crane continues this highly irresponsible behavior for weeks. now russia has been calling for the international atomic energy agency to visit the power plant. but as had told the last un security council meeting that quote, there is no immediate threat to the nuclear plant. now, the u. s. representative that the blame for the situation at the plant foley on russia and demanded a full withdraw. a russian troops. moscow though, claims its keeping the site secure. the cause of the situation at the zip reach, a facility is not a mystery. it is another tragic result of the russian federation decision to further invade its sovereign neighbor ukraine. russia alone created risks. it could eliminate those risk now by withdrawing from ukraine. turning am wind, i to why the conflict and ukraine started is just covering up the west real intentions. that's the claim of former us senator richard black. right now, there are such enormous force from the west, from the us, from nato, from the u

. >> the countdown is on europe. this is bloomberg markets european close with guy johnson and alix steel. ♪ guy: european equities are lower as we head into the close, 30 minutes away. the dax is probably hitting the hardest, the industrial stories. italian yields, we are seeing it higher once again. turbulence in both of these countries are worth keeping an eye on. to the main story, what is happening is energy. today, it's about oil, not about gas a key pipeline has been closed out of russia running down through ukraine into hungary into the czech republic, this is a key pipeline you want to pay attention to. the russians of effectively shut it down as result of an argument over transit fees. this is another key hit. security is coming for a time of high temperatures, potential he headed into a winter to deliver low temperatures. neither of those are what europe needs right now. alix: it's a big important conversation we will have next. let's look at the u.s. markets. risk off decidedly, i have a cascade of bad ne

now that europe is trying to reduce its i europe is trying to reduce its dependency— europe is tryinging for alternatives like - looking for alternatives like hydropower, _ looking for alternatives like hydropower, but _ looking for alternatives like hydropower, but then - looking for alternatives like | hydropower, but then these looking for alternatives like i hydropower, but then these are looking for alternatives like - hydropower, but then these are not available _ hydropower, but then these are not available because _ hydropower, but then these are not available because of— hydropower, but then these are not available because of the _ hydropower, but then these are not available because of the record i hydropower, but then these are not available because of the record low| available because of the record low levels _ available because of the record low levels you — available because of the record low levels you mentioned. _ available because of the record low levels you mentioned. there - available because of the record low levels you mentioned. there is i available because of t

yes, you know, i probably agree that most of all in europe, probably, not yet in the usa, but in europet we think we see and is rightly normal, or it is normal and they are afraid of normal families, they are not afraid of normal. sorry sexual relations are afraid of the normal culture. and you know what they do is the only one the way to defeat normality is to make the population forget that it ever existed. i think that the main thing, yes, is what they will do. this crosses out, in fact, the culture of abolition to help them, you cross out from the history of europe, especially the second half of the 20th century, all references to the fact that once there was normal art there. well, yes, there was a country-sectionism, but it coexisted next to the classical one. yes, when there was a classical theater, there is classical music, classical families, large families, even large french or large german families. i think these big french families spoke french. they are in arabic. yes, in french yes, and now really, and you are very big normal. in france, very soon they will speak first, an

it is to europe. why now and the past decade, the south american country has gone from being dependent on fossil fuel imports for power to a renewable energy pioneer. almost 100 percent of its energy now come from renewable sources. but that also comes at a price. caddo pharma, jemina bolos property is surrounded by a wind park. and while the turbines don't belong to her, they bring many advantages to the farm. the company that built the wind farm also repaired al paths enrolled and installed fences and gators you. that's why we said yes to the wind turbines. after our initial concerns, that wind turbines financed by foreign investors rotate on geisha manas farm, paying her a $160000.00 a year in rental income. thought again, it is that we use the rental income from the wind turbines to buy cattle on his seed and she so i lab land that for his that moves as forward you when are you good . i got enough. dozens of wind parks like this one. have allowed uruguay to meet nearly all of its energy needs from

this is the old essence of europe, it is still alive, it is with such europe that we are now dealing, the bull is the united states and in any case europe does not threaten to become a serious hector of international famous ones. now let's talk about let's talk a little about the bull, more precisely about the policy of bc e, one of the important elements of the american policy towards ukraine and russia as a whole, one of the important instruments of the hybrid war is the supply of arms, and to ukraine, and only today, the biden administration. uh, announced a new military aid package for almost 3 billion dollars, uh, but at the same time, john kirby, who is the official representative of the national security council, said yesterday that, in general, ukraine is losing uh military campaign, because time is not on the side of ukraine and the united states is not coping with changing the course of hostilities in favor of ukraine and some american experts. people like colonel douglas mcgregor, who was an adviser to the secretary of defense of the united states during the administration

but also in europe.have been through margin expansion in the retail services sector and that's not really china contingent, it's more of consumer spending and supply. central banks everywhere will take everything they can get. china gives them a little room to move but it will not be the heart of the disinflation story over the next year. here, we are still dealing with the energy inflation shock. we still got some really big problems. jonathan: let's talk about u.k. labor, how bad will things get in the u.k. and across europe for that matter? >> the ecb will still hike because of the german influence on the anti-inflation story is intense. the u.k. is different and there's a reasonable chance that inflation can be averted but only if the new prime minister is just takes some more drastic action to bail out households. it's the forecast right now and i could be wrong. the u.k. could enter into recession by later this year but the politics is looking more aggressive and the effect it's having on household

weak growth in northern europe or in germany in particular. and in that sense, it's been, it's a bit mixed picture. i guess what we can read into that is that the high uncertainty in the current situation is making life particularly hard for countries as germany or producing machinery, for example, with goods in general. because uncertainty is always a bad thing for investment obviously. and this is what is dampening growth in germany. so interesting, and speaking of these risks, we have the warning of the i m f saying that the german economy is most exposed to these a full address of the war and ukraine. and that has been data showing that the journal economy already contract it slightly in july. so how big is the risk for germany here? i think we don't see too much in the current figures yet, but the outlook is definitely extremely weak. i. i think we should expect for the 2nd half of the year for the 3rd and 4th quarter, we should expect negative growth. and this is obviously related to the current situation in eastern europe, but also rela

, western europe could be impacted as well. if you crane continues this highly irresponsible behavior. well, it's not being reported in the western press, but for weeks russia has been calling for the international atomic energy agency to come and visit this power plot. but the i e, a chief stated at the last un security council meeting that quote, there is no immediate threat to the nuclear power plant right now. or the u. s. representative put the blame fully on russia and demanded a full withdrawal of russian troops who actually secured the plant in march and had been guarding it ever since. the cause of the situation at the zip reacher facility is not a mystery. it is another tragic result of the russian federation decision to further invade. it's the sovereign neighbor ukraine. russia alone created risks, and it can eliminate those risk now, by withdrawing from ukraine. turning a blind eye to why the conflict in ukraine started is just covering up the west's real intentions. now hold on a 2nd. that's according to former am

large-scale and this will also affect europe because, as a result of economic immigrants, europe willrease europe began to buy more lng nord stream, which provided the eu with significant volumes. now only 20% are loaded, gazprom cannot receive equipment due to sanctions last week, experts noted that the volume of lng regasification in the eu has decreased. although previously it was growing all the time, europe is now called the premium price region. here is higher than in asia want for a long time. everything was smooth, on the contrary, spot gas prices in europe after the retirement of compressor capacities. on the nord stream, it stays above $2,000 per 1,000 m³. in asia, prices, of course, are also growing following the european september futures on the jepan index. korea marker that reflects the spot market value of goods shipped to japan south korea china taiwan rose to $1,600, while the debt remained at $1,300 to $1,400, prices in europe have become like that. it is entertaining that exporters, sometimes even tearing up already signed contracts, paying a penalty on them, sellin

these are the trends now in europe, and in greater europe, we can say that they are being followed .and can such a cold european winter become an ally of putin, and perhaps it is already slowly becoming well, actually, for a free market economy, any monopoly , monopoly, opportunities, suppliers, no, they are not decisive, a free economy very quickly orients itself to new suppliers to new sales markets, that is why putin himself has a problem here, the only thing is that gas in europe has always been politicized and the lobby that gazprom has fed under for decades, it does not sit idly by, it constantly muddies the water. it creates such an atmosphere of nervousness , an atmosphere of pressure on local politicians in order to force, well, at least reduce the pressure on russia, in this case, everyone perfectly understands that the moods of citizens in most european countries are against aggressive russia, and the fact that the prime minister of estonia gave an interview to a swiss publication is more than indicative because switzerland, let's mention , for example, the supply of ammun

europe is preparing for

now they're not going to talk to anybody in europe because there's nobody worth talking to europe any more about it. it shows the lack of leadership there. they shed at any kind of responsibility that their citizens will go after them. sergeant schultz won't be there for much longer guaranteed. go ahead and washington abortion. well, the russians have tried negotiating with the european twice already when it comes to ukraine. date it was, there was the to 2014 january, 2014 power sharing agreement that was supposed to peacefully end the my don color revolution and the us backed and coordinated ukrainian. nationalists simply ignored it and took power by force. and then those very same nationalist when they tried to crush the rebellion in donnie, it's going to gone skin crimea by force and were defeated. then again turned to france and germany to broker a ceasefire. and that was the minced protocols. disease fire, which again they proceeded to completely ignore it. and what did the us do it sabotage these things that every step and the french and germans just went along with it and you

now they're not going to talk to anybody in europe because there's nobody worth talking to europe any more about it. it shows the lack of leadership there. they shed at any kind of responsibility that their citizens will go after them. sergeant schultz won't be there for much longer, guaranteed. go ahead and washington abortion. well, the russians have tried negotiating with the europeans twice already when it comes to ukraine. date it was, there was the 2014 january 2014 power sharing agreement that was supposed to peacefully end the my don color revolution and the us backed and coordinated ukrainian. nationalists simply ignored it and took power by force. and then those very same nationalist when they tried to crush the rebellion in dawn, yes. can, will gun skin premier by force and were defeated then again turned to france and germany to broker a ceasefire. and that was the infamous minced protocols. ringback disease fire, which again they proceed to completely ignore it. and what did the us do? it sabotaged these things that every step and the french and germans just went along wi

and after all, the first frosts can hit europe earlier than usual.inter is predicted to be cold, and some scientists even say that it is abnormally cold and this is the result of global climatic processes in the european union now the most concerned about energy saving in germany wherever they can switch consumption to alternative energy sources, how reliable are they? we remember well the energy crisis last fall, citizens are required to save money, many eu countries intend to lower the temperature in heated rooms in winter, how to explain to a simple european that it is not ursula fondyrlyan or others who are not to blame. here are these with the same professional manager. no no. no fault. they are to blame for this scattering. and now we have figured out how to counteract this russia and save. get involved in our screwing process. heating is behind all this human lives. well, here it becomes. you know somehow by itself, it starts the process of cooling the atmosphere of the northern hemisphere, the so-called lanine phenomenon, it provokes in the p

well, to europe. well, this is actually a window to europe.n the walk won, here we also triumphantly walked and the main prize and for directing and the actress received a european title, then after that we were actively called. we have been to many international festivals, and even won two american ones, so it really was such a step not only to europe and the world of retro shows for viewers in vyborg a great way to immerse themselves in the atmosphere of favorite films, and for the creators of the picture, a reason to remember the features of the shooting was filmed then on a small semi-amateur camera, and then transferred to the big screen, combined real city and people with actors. in general, there was such an interesting story, it was filmed with very long shots, so it was all curious, interesting and new for me, as a director and all the groups, the story is about three young people who, in the summer of st. petersburg all day without sitting down for a long time, became an audience hit , northern capital the picture appears bright and

his opinion, europe is heading for the poverty line. here listen large-scale historical changes are taking place right now and at the same time it seems to no one no, that's nothing to do with it. it's quite disturbing, to be honest, here's one example of europe now slipping into poverty. did you know about this , someone told you the most developed countries on the planet are the cradle of the west and at the same time our civilization is very quickly becoming impoverished. it is degrading at full speed just a year ago, europe was a symbol of modernity. for example, the vast majority of europeans had gas heating in their homes, as befits modern people in germany, and at all about six percent, households were heated with coal, yes and those were mostly in the countryside once again germany was a modern industrial country gas heating home water supply and many other factors proving that humanity has long gone beyond the middle ages. last year, only six percent of germans heated their homes with coal, but now the situation has changed dra

i knew map of europe. i do recall, also, having been about 18 years old at the time, the great feeling of optimism. maybe not all russians felt it. certainly in the u.s. we felt it and across much of europe there is a sense of a real new beginning. >> you are reading my mind. i was going to ask you about that moment of optimism. i am talking about the day, christmas day 1991, president bush gave a televised address. i was 16 years old. i would not pay attention to international politics or it was going on in the news. i do remember reagan. he was a child in the 80s, i watch all the cold war movies, rambo and read on. which is still a very good movie, by the way. when was last time you watch right? on >> not since, childhood, early alex the lessons, don't forget firefox also. >> president bush, on tv, basically says, i encourage everyone listening to seek the speech out it's on youtube. we won, they lost. freedom and liberty prevailed. he said, this is a victory for our values. it wasn't just that the sovie

it’s not beneficial for us either, as for europe, at first europe experienced some enthusiasm, because an impression with them, and apparently even directly promised that you would be the foremost avant-garde detachment of the whole world, the whole world would support ours. and after a while it turned out that a small part of the world supports this american position, the europeans. they said how we were going to be the vanguard. and it turns out we are the last in this in this american chinese mead 15% of the world's population of your food chain turned out to be the last. that is, you will be fed by us. who will we feed on? who's next to this food chain the americans say, wait, wait, someone will. well, the europeans have been waiting for a while, but the europeans are tired of all this. they realized that they had made a completely wrong bet, but that the current elites can not get out of american control. well , they just can't go through this american school selection is their asset. even if they are dissatisfied , they cannot go anywhere, and in general, they take a rather europ

particularly in europe the outlook for germany, the biggest economy in europe, and fourth in the world, is looking bleak. consumer prices jump which rose 37% year on year on top of soaring energy prices we are seeing again surge this morning. supply chain disruption and calling historic draught we have to ask is recession or worse in europe inevitable let's talk wabout it with carsten brzeski. car carsten, we did not realize gaz prom would shutdown again for a couple days due to quote maintenance. markets are nervous. they may not turn it back on on time if at all $70 natural gas and race for coal how is this shaping up in europe >> brian, you used the word before disastrous maybe the other one would be we're in the middle of the perfect storm. this gaz prom is playing with germany and europe and showing who is more in charge of what will happen this winter and europe germany with the energy problems the recession is inevitable. the only question is how severe will the recession get we have too many problems. supply chain, war, high commodity prices and low water levels we will see a c

dani: welcome back to bloomberg daybreak europe.eculation that inflation has peaked, according to the bank of america's monthly fund manager survey, strategists are now looking at the basic rate for rising earnings. that survey showing that investors are still very bearish but perhaps not as extreme as they had been in the month prior . have we seen a turning point in this market? >> i would not say it's a turning point. what was really happening is we've seen the bear market transpire but we've seen better than expected earnings season and an easing of financial pressure and then every central bank is fighting inflation starting to peak. we could get the fed pivot from this point on, but the reality is were also getting a lot of weak economic data coming in. will the balance be more in favor of addressing that or will the fed still continue on its path of being hawkish on inflation? the fed is suggesting that will be a lot more hawkish but -- dani: it does feel like a fed whose beginning to push back against the pivot narrative, we

europe is clearly acting in conflict with its own interests. if there is any hope, in your opinion, that

ukrainian refugees are also accepted in europe.out three and a half of ukrainians are now in the eurozone, the most in poland, according to the commissariat, more than a million follow germany and the czech republic, where the number of refugees amounted to almost 650 and 380,000 people nikita skoblikov - the only news on the public to refuse to repair five more one of the turbines of the northern stream called canada , the ambassador of ukraine in this country, yulia kovaliv, says that if this is not done, then russia will continue to be able to supply europe with gas, i will remind you of one of the repaired turbines, canada has already sent an exception to the sanctions against russia for this purpose, the decision was supported by german chancellor olaf scholz - said that in this way it was possible to demonstrate that russia has no intention of launching a gas pipeline, because the kremlin has not yet provided the documents to obtain the equipment. putin's press secretary dmytro piskov explained that gazprom wants to hedge tha

europe is running a current account deficit now. that's the first time that's happened in a decade that is another change in terms of the flows we see and that's something that drags the euro lower through time the other thing i would mention is euro is not cheap from the big picture. yes, versus the dollar, the euro is low the effective exchange rate? the euro is not cheap. we could cheapen another 5% and only then start to get into stretch valuation level. that is why euro has further to go >> sounds of structure drivers that keep the euro stressed in the months to come what about sterling? trading below $1.17. the same question to you the pound here, to my mind, creates more upside risk >> it is a very similar story to europe we have the same type of inflation pressure and wage squeeze and weak consumption i would say a couple of things relative to europe where the uk potentially got upside i'm not saying bullish, but in the context of what is happening in europe. we have potential for fiscal stimulus after the leadership electio

but it's not something that europe can't adapt to. so a lot of european countries have already ramped up cold production. and it seems also that nuclear production may come back on the line in germany or discussion. surfers been pretty pessimistic. relevant. is there anything positive to say right now about the euro's own economy? tourism is expanding at breakneck speed. it, of course, took a large hit during the pandemic and now it's on a tear. so if tourism wasn't rebounding, it to the extent that it was now, we probably see a much deeper recession in the years own in the coming to quarters than we currently expect. mentally, there are concerns about how higher borrowing costs are gonna affect indebted nations. that's something i want to talk to you about a little more in just a moment. stay with us. we'll italy is among both countries. it has the 2nd highest debt burden in euro's own, and raising interest rates too quickly could high capitalize debt and make it harder for it to pay. it comes to the country faces political uncertain

about europe, the whole program.ia is not only with china, russia is already seiran. russia is already practically friends with turkey. all latin america all africa last week. they saw how only 30% voted in the united nations, and 3 months ago 74% supported ah america so this trend. uh, it seems to me that there is no serious future precisely, because there are no objective reasons for hmm uh, so the strengthening of this trend, since it implies the eurasian project and hmm peninsula europe but eurasia can happen, uh, and purely economically, purely commercially purely financially, geopolitically media and in every possible way and without the project of europe and in this regard. of course , it hurts me a lot, but for europe well, europe is the most affected in this situation, but collective europe is not able to come to its senses , it is completely under the boot on america and here russia in my opinion. leads a very wise policy. well , i will give mine using the example of bulgaria , 70 diplomats were expelled. y

there is your view on europe and the u.s.. let's had to asia, and look at markets with juliette saly in singapore. juliette: certainly the same here. the energy sector really the only bright spot on the rebound in oil, but a risk off session for fourth session across asian markets and being led lower by japan. you had this move by chinese authorities to try and stabilize the property market, $29.3 billion for special developer loans, but not really helping out the property stocks to month -- too much, down in the opening session. you talk about fx, we've been watching closely. earlier today, some verbal intervention to try and stop the slide against the greenback. he saw a bounce on the won. the dollar again king, up about 2/10 of a percent. asian stocks, down for a fourth session. holding around a one month low. we have gone through the 50 day moving average and it looks like we will continue to fail at that point. if we get through that month, back at a two-year low on the index. manus: thank you very much. juliette saly wit

in america, many people are tired just like in europe, however, but in europe they are less likely tof their ukrainian uh, i don’t know how call them dogs. yes, there are tobacco. uh, these banderlogs are like this, uh, because ukraine, of course, took it. you know, it becomes like this collective uh in quotation marks sakharov for the west teach everyone to live. in general. she decided that she was some kind of moral tuning fork. and so, they talked all the time about values. and now ukraine is speaking. well, how we are fighting, we know everything about values ​​better than anyone and, of course, teaches everyone to live, she behaves absolutely boorishly, but it’s true, and one of the most boorish e such figures of ukrainian e, ukrainian the ambassador in berlin has already, in general, completed this mission of his in the end. they took him out of berlin, but he said a lot of things there, so they just got tired of it. and i think that the policy is very soft, very soft. e, hints e to the ukrainian leadership. that in general you do what you are ordered to do, and do not teach ev

today and the poor planning and if it is europe or the u.s.west in general, we've all been moving forward a much greener future from the energy side. the problem is it seems like the powers that be had been taking policy advice from small ngos and teenagers talking about the need to reduce carbon emissions in the world and not putting together a comprehensive science based, math based approach to energy transition. i think the question you set me up for is is there a problem on the horizon in europe? i just spoke with a good friend who is in germany who is in the u.s. armed forces who told me their average monthly power bill has gone from 150 euro a month to 800 euro a month at the last bill as you know, those people don't make that much money when you have a power bill moving almost 600% within a year, and power bill has doubled in the last three months, but they're up price per mega watt hour is up more than 14 times in europe i think they have a problem. imagine whatever your monthly bill is for electricity or power, imagine multiplying it

the drought in europe has left people without water. farmers. they are trying to save agricultural land and bright moscow evenings. the capital hosts an international fireworks festival. this morning, ukrainian nationalists opened fire with heavy weapons on several settlements attacked, makiivka panteleymonovka donetsk and the day before in the kherson region in nova kakhovka there was a strong explosion near the sokol plant . this is the most densely populated area of ​​the city. uh, the consequences have not yet been reported. in addition, the kakhovka hydroelectric power station was shelled from the american highmars system. disabled due to missile attacks. one of the turbines, the station is now operating in emergency mode. first, a military operation in the donbass under the bombs of the ukrainian military killed hundreds of civilians, including children, the number of wounded goes to 1,000. one of the few western journalists. who tells the world about the cynical brutality of militants. this is a french reporter. adrian boke. he specially

or europe.t is one example where they have -- clearly in the currency markets as well and given the importance of export activity for them, they have the ability to maneuver their currency to support key sectors of their economy. in the use the regulatory switch rather aggressively too. they have the ability to support domestic exporters at the expense of other players. i think they do it more frequently, which in my opinion means they are more likely to intervene and support growth and other priorities. jonathan: good to catch up. mark howard of bnp paribas. brammo, that is an important dynamic in china. if they face some form of liquidity trap, not allowing things to happen -- it may be out of their control. lisa: especially miller yesterday was saying they have not put that much stimulus into the market. jonathan: we will build on some of this conversation around china. we will catch up with tina fordham in just a moment. futures up .2% on the s&p. this is bloomberg. ritika: keeping you up-to

hello and a warm welcome to "focus on europe." aside from the war in ukraine, another disaster continues to play out across europe. migrants from africa are still dying on their dangerous journey across the sea. this year alone, hundreds of people have died or disappeared without a trace on the high seas, as they try to reach the coveted destination of europe. despite that, many migrants feel they have no other option, and continue to attempt the journey in overcrowded, often unseaworthy boats. there is also a route to europe from africa by land. and it's no less dangerous, as a recent tragedy in melilla shows. the spanish exclave in north africa borders with morocco. dozens of migrants died in june trying to cross from there into melilla. atroon, from sudan, witnessed these brutal scenes firsthand. the number of people like him, who risk their lives fleeing to europe, is likely to rise, as the war in ukraine has intensified the threat of famine in many african countries. >> june 24th at the border to melilla. this eyewitness foot

europe gets uuite a let's look at europe. europe gets quite a lot _ let's look at europe.gets quite a lot of rain. _ let's look at europe. europe gets quite a lot of rain. and _ let's look at europe. europe gets quite a lot of rain. and it - let's look at europe. europe gets quite a lot of rain. and it is - let's look at europe. europe gets quite a lot of rain. and it is now. quite a lot of rain. and it is now seeing these extraordinary droughts. what could be done because mike is there a better water management system? is this about repairing more leaks? is this about repairing more in the winter trying to store water? what are the kind of things people ought to be putting pressure on their governments to do? figs ought to be putting pressure on their governments to do? as always, with these really _ their governments to do? as always, with these really big _ their governments to do? as always, with these really big and _ their governments to do? as always, with these really big and sometimes| with these really big and sometimes quite intractable problem, it's all of the a

it is "daybreak europe." tensions over taiwan. urging beijing to refrain from aggressive action over nancy pelosi's expected visit as joe biden's has a u.s. strike killed a key planner of the september 11 attacks. asian stocks and u.s. futures selloff while treasury yields decline. keep a wary eye on the development in taiwan. three times 50. the reserve bank of australia hikes rates by 0.5 for the third consecutive month but says there is no preset path. the aussie dollar drops. that is what you call a dovish hike according to our chief economics correspondent. we will get to enda curran in just a moment. let me show you the equity narrative. we snapped three days of gains on the equities market. 56% have reported. 52% have beaten. that trailed the past five quarters. the results are better according to goldman sachs. they are looking into dovish messaging from the fed but there are a lot of deniers of this dovish messaging from the fed. not least speculation on a fed pivot is overdone and counterproductive. stocks drop as the if