she takes the reins of the european central bank on november 1st. space tourism is about to go public starting monday investors can trade shares of virgin galactic on the new york stock exchange for the 1st time since its founding in 2004 virgin galactic has raised more than a $1000000000.00 to develop a commercial service to take tourists into space the company which is the brainchild of british author bernard richard branson plans to offer a weightless flights to 6 passengers at a time tickets for the 1st customer sell for a quarter of a $1000000.00. for more let's cross over to our man on wall street. is richard branson they had a virgin galactic 1 looking for more money to fund you know what people perceive as personal moonshot what was going on here there were no clearly i mean it's a costly and ever and so you need to raise money wherever possible actually it was a good start a promising start at the beginning this dog showed up by a good 5 percent in early trading but by the end of the day all of those gains have vanished the wall street is b

slowly at the top when christine legarde takes over the european central bank she'll face colleagues with a very different views over how to prop up a weakening eurozone economy. and who said ship building in europe is dead cruise ships for the chinese market and i'm feeling built in germany. business to have your business i'm in berlin welcome washington appears to be making the most of the world trade organization ruling in a 1st step the u.s. on wednesday announced new duties on aircraft and industrial and i would cultural goods. ruled that the u.s. can slap tariffs on 7 and a half $1000000000.00 of e.u. goods because the e.u. had illegally subsidized european plan make us it sets the stage for a further extension for it's already the world's longest and costliest trade dispute brussels is already mulling how to retaliate. the world trade organization. has given the green light for the u.s. to impose sanctions on $7500000000.00 worth of e.u. goods u.s. president donald trump a vocal critic of the w.c. oh appears to have softened his stance on the organization. you know winds are n

mario druggies ara as chief of the european central bank comes to an end as monetary policy let they gear ozone through stormy economic times we'll have a look at his legacy. and argentineans head to the polls on sunday to elect their next president incumbent mark and you will have a tough time in the midst of a deep economic crisis. for business on the w.b. i'm sure you'd have to give us welcome never give up that's how the european central bank's chief mario draghi summed up the lessons of his 8 year tenure at the top of europe's most important financial institution there were no surprises during his last u.c.b. meeting on thursday interest rates will remain at 0 percent as expected christine legarde is due to take over in a few days mario druggies monetary policy was not always popular but despite all the controversies the support for the euro never wavered. and the standard rituals and costumes the blue suit the reserved the business like demeanor for the 65th and final time mario draghi enlightens the world about e.c.b. monetary policy the recent round in the euro area growth ou

central bank took action to address those concerns . the limit that is in place. is onone of the major challengnges facing the president-elect. europeanentral bank is bidding farewell to mario draghi. planned toony is commemorate the end of his eight year term. he will hand o over the reins to chchriste e lagarde. lagardere faces no shortage of challenges. the first woman to head the european central bank and the first ecb chief with no training as an economist or training as a central banker. she is seeking to unify while keeping in mind the success of mario draghi. draghi came under fire for restarting government and corporate bond purchases to boost the euro zone economy. critics say his measures leave little room for maneuver during a protracted downturn. inherits interest rates at lowe's. policy toolbox is looking depleted. u.s. china trade tensions and faltering german exports.s. she officially takes up a post on the first of november. she is scheduleded to ho h her first monetary policy y meetingn e e 12th of dececember. >> the intnternational monetary fund hasas a new report out. it does not paint a rosy picture. unemploymentt

she takes the reins of the european central bank on november 1st. and now to some of the other global business stories making news argentina central bank has sharply tightened currency exchange controls the bank's head says he aims to stem a surge in capital flight the bank is also said to buy pesos to stabilize the currency this comes after a left wing peronist i better fund for numbers one the presidential election sparking fears of protectionist policies and a debt crunch germany's commodify saw an unexpected jump of profits in the 3rd floor of the sale of a subsidiary lower overhead and costs from bad loans led to a 35 percent profit 5 year on year to almost $300000000.00 euros recently the lender announced plans for a radical restructuring following collapsed merger talks with deutsche bank. u.s. trade representatives are reviewing south africa as duty free access to the u.s. market the move comes after companies complained that south africa is. doing enough to protect us copyrights their view could mean new terrorists on as much as 2000000000

mario druggies era as chief of the european central bank comes to an end of his monetary policy led the eurozone through tumbling economic times we'll have a look at his legacy. also on the show u.s. vice president mike pence attacks china on intellectual property and human rights violations just ahead of crucial trade talks. and argentineans head to the polls on sunday to elect their next president incumbent mark you will have a tough time in the midst of a deep economic crisis. it's time for business on the w m how you get us welcome to the program never give up that's how the european central bank's chief mario draghi summed up the lessons of his 8 year tenure at the top of europe's most important financial institution there were no surprises during his last u.c.b. meeting on thursday interest rates will remain at 0 percent as expected god is due to take over in a few days mario druggies monetary policy was not always popular but the spite all the controversies his support for the euro never wavered. standard rituals and costumes the blue suit the reserved the business like demeanor

never give up that's how the european central bank's chief mario draghi summed up the lessons of his 8 year tenure at the top of europe's most important financial institution there were no surprises during his last u.c.b. meeting on thursday interest rates will remain at 0 percent as expected christine legarde is due to take over in a few days mario druggies monetary policy was not always popular but despite all the controversies the support for the euro never wavered. the standard rituals and costumes the blue suit the reserved the business like demeanor for the 65th and final time mario draghi enlightens the world about e.c.b. monetary policy their recent round in the euro area growth outlook remain on the downside. came to cure these respecting to the prolonging presence of uncertainties related to geopolitical factors the rise in protectionism and vulnerabilities in emerging markets druggies used to dealing with uncertainty the global financial crisis the great recession the sovereign debt crisis he steered the eurozone through fiscal her akins. without druggy the euro might well

and defeat the end of an era as mario draghi hence the helm of the european central bank to christine lagarde is hailed as the savior of the euro by some but many are saying is he's leaving behind a weak currency they're born survive the next crisis this is business africa on the health as well. south africa's government is forking out the equivalent of another $4000000000.00 u.s. dollars to save the country's oldest and largest power company it's come from financial disaster funds are intended to help pay off its enormous debt burden currently valued it well over $30000000000.00 some so large that goldman sachs now describes the state own entity as the single biggest risk to the country's economy so what's gone wrong it's a show on a lot outdated infrastructure corruption and mismanagement as well as rising costs left the company unable to meet soaring demand an over reliance on coal is another problem the result has been an ever increasing number of large scale blackouts straining the economy further angering south africans the most recent of them just happened last week up in the p

the end of an era as mario draghi hands the helm of the european central bank to christine lagarde he is held as the savior of the euro by some but many are saying he's leaving behind a weak currency that won't survive the next crisis. our way or not to our way germany's governmental regulator is under fire for green lighting the chinese company's products for the country's 5 g. infrastructure. stuck in the middle served to become citizens. migrants your platform for reliable information. the end of an era as mario draghi hands the helm of the european central bank to christine lagarde is held as the savior of the euro buys some many saying he's leaving behind a weak currency that won't survive the next crisis. our way or not to our way germany's governmental regulator is under fire for green lighting the chinese company's products for the country's 5 g. infrastructure. stuck in the middle serbia vows to boost economic ties with russia while it also strives to become part of the e.u. . this is business. as in the berlin wall come and we start in europe after 8 years at the helm of the

central bank president point of view, that's difficult to achieve. i agree that the financial markets union, we have one common bond market, those are things with europeanhas worked to do and can really contribute to positive development. what comes to fiscal policy, it has always looked like it is not your business as central bank president. you are not nominated to do that. you can give some hints and thoughts, but your work as central bank president is inflation and a second banking and capital market unions. this is where the ecb has oversight of power to do something. i would be much more happy if they would work on these areas where they have responsibility and powers. matt: thanks for joining us. kohl, chief economist for germany. we'll hopefully hear here more than hints for mario draghi. ecb presidents have often use their last appearance as a time to get pretty specific about what they want. stay tuned for ecb coverage of the last draghi press conference at 1:30 london time. you are going to get the decision and then the press conference comes at 1:30. nokia shares have fallen the most since 1991 since nirvana's "nevermind." warning that an ea

christine lagarde, who led theti about to take over the presidency of the european central bank. when you think of the challenges to the global economy, where is donald trump on that list? ( ticking ) ( bell tolling ) >> tonight a history lesson turned detective story, about what may be the first blockbuster news story ever published. solving the mystery of the stolen christopher columbus letters, written more than 500 years ago by the explorer himself, announcing his discovery of the new world. >> he actually made the globe a globe. and that's pretty much the most consequential news ever published, isn't it?. ( ticking ) >> i'm lesley stahl. >> i'm bill whitaker. >> i'm anderson cooper. >> i'm john dickerson. >> i'm jon wertheim. >> i'm scott pelley. those stories, and more, tonight on "60 minutes." ( ticking ) i wanted more that's why i've got the power of 1 2 3 medicines with trelegy. the only fda-approved 3-in-1 copd treatment. ♪ trelegy. the power of 1-2-3. ♪ trelegy 1-2-3 trelegy. with trelegy and the power of 1 2 3, i'm breathing better. trelegy works 3 ways to open airway

founded in 1998 the european central bank is the central bank for all 19 euro zone countries its primary task is to keep prices stable once that goal is achieved the e.c.b. is also supposed to promote growth politicians aren't allowed to intervene. the powerful institution has 2 main instruments number one the key interest rate the e.c.b. lends money to banks and hasn't charged interest on it since 2016 by doing so it wants to encourage those banks to create cheap loans in turn boosting the economy by promoting investment and outlay. inflation is also supposed to rise the central bank wants it at just under 2 percent if it comes in at less the danger grows that prices could fall long term. the e.c.b. can also buy bonds which is supposed to strengthen national economies it holds private and public sector securities totaling around $2.00 trillion euros. by buying the bonds the central bank affectively pumped fresh cash into eurozone economies which is good for growth but critics complain that's actually not allowed because it amounts to state financing. the 0 rate policy also means that pe

european debt crisis and that was just the beginning. >> truly historic. the deposit rate has gone negative. that is stored for any major central bank practical purposes, have reached the lower bound. >> as the european economy continued to deteriorate and bond yields surged, the ecb introduced quantitative easing. in early not everyone supported 2015. it and opposition to the ecb was growing. >> [indiscernible] >> despite signs of recovery in growth and jobs, it became clear europe still needed support. >> additional stimulus will be required. this outlook is getting worse and worse. >> maintaining calls for fiscal stimulus, he cut rates again and controversially resumed qe, reminding investors of his famous mantra. >> the ecb is ready to do whatever it takes. >> what next? for one thing, christine lagarde hopes to avoid his motto. >> i hope i never have to say something like that. rikita: you can find more coverage of the ecb and mario draghi on the bloomberg and on bloomberg.com along with the latest news and analysis 24 hours a day. that will be all for bloomberg best this week. thanks for watching. i'm ritika gupta. this is blo

you when you listen to not only what you're saying there about what the outgoing head of the european central bank mario drug has been talk about when he said you know central governments need to do more is it indicate is that really the european central bank is at the limits of its sort of policy abilities or more needs to fall on national governments in europe going forward i think so on the e.c.b. has slightly kind of that was its rate from minus 0.4 minus 0.5 percent to 10 hours that it feel resume government want purchases but only $20000000000.00 euro spent months which is just one force of the amount the mass the amount the e.c.b. perches in 2016 so clearly the e.c.v. is reaching the limits of its monetary actions and now i think even before i mean many many years ago in my view fiscal policy should have taken a much more stronger or in supporting the euro eurozone economy but especially now when the e.c.b. reaching its limits fiscal policy should be even more important why when you look at the unemployment picture for example in germany it's holding up pretty well how might that change if

in georgia at the helm following the departure of christine lagarde who will now have the european central bank giorgio who has prioritized issues like inequality and climate change will be diving head 1st into the situation as pressure mounts from various starters and stakeholders so today we have the finance minister of india now calling for a global united concerted effort in order to tackle the synchronized slowdown facing all the developing nations today so especially with the slowdown with china with all the tears and everything that is taking away point 8 percent. which is actually the entire. time it's no surprise that the policymakers and decision makers here are trying to coordinate on how to tackle. difficulties right now what's interesting is that you see india in the lead on this is opposed to in past meetings who would have seen probably leaders from the u.s. or europe being the ones that were at the table so to speak to broker these sort of solutions obviously the united states right now not in any position to really broker any deals with allies or really much of anything it's fu

the top business news stories brian quinn joins me in the studio- brian let's begin at the european central bank the end of an era. mario draghi is on his way out to christina god.. on the way it indeed druggies tenure at the ecb celebrated monday with a ceremony at the bank's frankford headquarters his eight year term was a marked in large part by fallout from the two thousand. eight global financial collapse sovereign debt crises in eurozone countries like greece led many to preredict the break up of the single currency union. dragging insisted that the ecb do quote what ever it takes to preserve it. he did that by expanding the bank's crisis fighting tools including a vast purchases of government bonds in a policy known as quantitative easing. that program and drags announcement of its return amid weakening eurozone economic growth have drawn plenty of criticism. french president emmanuel. macron though hill to try his actions here he is. lose it on a key that it's too ended as a no overgrown into the eurozone sovereign debt crisis as soon as you took office. you let an action supported by th

you when you listen to not only what you're saying there about what the outgoing head of the european central bank mario druggies been talk about when he said you know central governments need to do more is it in the kitty of really the european central bank is that the limits of its sort of policy abilities or more needs to fall on national governments in europe going forward i think so on the e.c.b. has slightly kind of that was its rate from minus 0.4 minus 0.5 percent to 10 hours that it feel resume government want purchases but only $20000000000.00 euro spent months which is just one force of the amount of the mass the amount the e.c.b. perches in 2016 so clearly the e.c.v. is reaching the limits of its monetary actions and now i think even before i mean many many years ago in my view fiscal policy should have taken a much more stronger or in supporting the euro eurozone economy but especially now when the e.c.b. reaching its limits fiscal policy should be even more important why when you look at the unemployment picture for example in germany it's holding up pretty well how might that change

christine lagarde is now moving beyond that she it's not her problem anymore she goes the european central bank that goes to chris georgia have a crystal ina the new had there who we heard from and in the end for me looking at this from the perspective of having watched from the is in the late ninety's and early 2003 just seems to be a remarkable lack of. confidence a lack of confidence on their part not just the sidelining of the u.s. not just all these differences on interest rates but real fracturing over what used to be a consensus at the international financial institutions and this has really shaken the investor confidence like world wide because now you have them debating should we sink more good money to follow bad money like is it even worth it at this point where history has shown that they have defaulted at every single step of the way and what could they possibly do this time that could change the course of history very interesting time in transition. time now for a quick break but hang here because just after the break. all the. major drug companies have reached a settlement to avo

the european central bank rate decisions are due out marking the final meeting for mario draghi we'll go live for a preview. this is very much the end of an era for one of the preeminent central banks. >> largely discounted as a market moving event because back on the 12th of september, we really got the big announcement from mario draghi. that was to take interest rates even further with a deposit rate of minus 0.5% and the announcement that we would recommence the bond purchasing program starting from the act of october. also trying to protect the banking sector all of that is largely in the market the need for consensus and how do we heel some of the splits that have become unusually public that will be partially the legacy mario draghi leaves behind here. on one level, he will be celebrated by saying we will do whatever it takes to protect the euro he will also depart on a controversial note because people are questioning whether this negative rate strategy may be helping with the economic rate at all. that has caused this very public spat now on the future direction of interest r

it has a lot of european central banks, doing more qe, there is a widespread acknowledgment that theyuffering from reversal rates. i do feel we have reached a level in the european central bank rates. that can help yields to the upside. thank you so much. coming up, barclays recorded earnings that beat estimates on ci be revenue and adjusted tax. we will speak about those results on the outlook amid brexit. don't miss that conversation next. tune into bloomberg radio live in your mobile device or on digital radio and the london area. is bloomberg. ♪ is 8:14 here in frankfurt. 7:14 in london. this is bloomberg. i'm matt miller here in frankfurt. nejra: i'm in london. we still have nick wall with us. matt: yes, nick, i wonder what you take from the bad pmi numbers out of germany. likertainly does not seem it will be a fantastic surprise to the upside. is germany in a recession or headed toward a recession? nick: i think you could argue strongly that they are in recession. unless there is a sea change in terms of government willingness to increase fiscal deficits meaningfully, than they

that something many economists are not calling into question among them the new head of the european central bank christine legarde. i'm saying that those that have the room for maneuver and those that have a budget surplus notably germany and also the netherlands why not use that budget surplus and invest in infrastructure which currently needs investment contrary to what people say why not invest in education and innovation. legard is among a growing number of voices urging germany to spend more not just to spur growth at home but across europe elsewhere in europe with an election in the u.k. now set for december everything remains possible in terms of brecht's it hard soft or none at all the uncertainty for business drags on to a good example is islands tourism sector where there are concerns the visiting brits may soon need visas tens of thousands of jobs could be at stake. this charming train takes visitors on a tour of goal with city in the west of ireland it was the brainchild of terry money an entrepreneur who relies on tourism he's worried about how the wrangling over break that will aff

financial times is leading with the us central bank's efforts to stimulate the economy with a quarter point rate cut. it also notes that the new head of the europeanagarde, is calling on the german and dutch governments to use their budget surpluses to get the european economy moving. asian economies are also faltering, and the japan times is wondering why the trump administration has downgraded its participation at several big meetings in the next few weeks, including the east asia summit. it comes as the chilean government is forced to cancel the asia—pacific economic summit and the un climate summit because of unrest on the country's streets. so let's begin with british politics. with me in the studio is david buik, market commentator at the betting company core spreads. good to see you. you have taken my breath away with those headlines stop the gosh! i know, so much going on. today was the day we were going to leave, 31st of october. it was never going to happen and if you've been stupid like i have for the last five or six weeks, to watch the bbc politics from the house of commons, you would have every right to be utterly ashamed. it's been

top flight of economics christina got she is due to become the 1st female president of the european central bank replacing mario draghi and she headed the international monetary fund garion economist christina. eva is replacing her as managing director and this week s ted to float shared the nobel prize for economics for research on fighting poverty she's the 2nd woman to win the prize which has been awarded since 1969 jennifer morgan became the 1st female head of the german blue chip company last week she's c.e.o. of software behemoths s.a.p but men still dominate the boardrooms of the world's biggest companies. well the hottest labor dispute at general motors in almost 50 years appears to be resolved on wednesday negotiators for g.m. and or union representatives reached a tentative agreement demanding a share of profits better benefits and stronger future commitments by the company really 50000 g.m. workers began walkout last month crippling the comic as u.s. operations. the hard fought deal won't bring an immediate end to the strike by $49000.00 workers they are likely to stay on the picket l

economics let's start with christine lagarde she's due to become the 1st female president of the european central bank in just 2 weeks replacing mario draghi before that she headed the international monetary fund their replacement is also woman buggering economist christa lena your give up taking over there as managing director soon and last week said to flow shared the nobel prize for economics for research on fighting poverty she's only the 2nd woman to win the prize which has been awarded since 969 last but not least jennifer morgan became the 1st female head head of a german blue chip company last week she is co c.e.o. of software company as a p men still dominate the boardrooms of the world's biggest companies sub-saharan africa has the highest rate of female entrepreneurship globally with approximately 26 percent of female adults engaged in and printer elective ety let's hear from one nigerian business leader in the tech sector about what she thinks needs to be done to foster more female leadership. i want to society where way to keep some momentum i want a reality where more women are being pus

it was all a lets do business will mario draghi be remembered as a hero the head of the european central bank is said to hold his last meeting before handing over the reins several members of his governing council have publicly criticized his latest measures one top official even resigning over druggies new open ended bond buying scheme. the italian economist has been at the helm of the e.c.b. for 8 years now and they couldn't have been more turbulent. by 2010 the financial crisis that 1st struck in the us was spreading its contagion to europe economies banks entire nation seemed to be teetering on the edge when the euro came under massive pressure mario druggies comments about what he would do to save it made history the z.b. is ready to do whatever it takes to preserve the euro. and it would take a lot by buying up sovereign bonds issued by deeply indebted member states he allowed them to avoid going bankrupt the e.c.b. has so far spent nearly 2.6 trillion euros on them at the same time borrowing money grew cheaper than ever before to boost economic activity the e.c.b. cut its key lending r

someone else is being saying farewell mario draghi has officially stepped down as head of the european central bank and if it was sent in frankfurt germany is under a battle wish druggy old the best for the future its replacement in the job is a state that god she says he leaves the euro more popular than ever with confidence in the region at its highest since the financial crisis by a drug he says it was a privilege to serve at what have become a modern central bank capable of managing any challenge things. thank you they have the back fire druggy they're from christian god and vice versa i think business british. secret drug trials. have psychiatric patients in a hospital in romania. be used as guinea pigs without that knowledge or consent. on behalf of european drug companies and research institutes. close up in 60 minutes on d. w. . is known as. managers do not go to day. you know the banks. and so watch the language of the bank. speaking the truth global news that matters g.w. for mines. this as the news africa coming up on the program the results have been announced about the tensions remain

something many economists are now calling into question that among them the new head of the european central bank christine legarde is secure. i'm saying that those that have the room from a new friend those that have a budget surplus notably germany and also the netherlands why not use that budget surplus and invest in infrastructure which currently needs investment contrary to what people say and why not invest in education and innovation to. legard is among a growing number of voices urging germany to spend more not just to spur growth at home but across europe. that's. the be. the be. the bad . hello and welcome to news from the world of arts and culture martin scorsese robert de niro and al pitino hollywood royalty together for the 1st time in the new movie the irishman also coming out the famous norwegian runs a car over canals gordon has curated an exhibition of edvard munch's works in a museum. and in our continuing series baking bread. is making rope lidsky from the czech republic. bots we begin with a new martin scorsese movie the irish man which has a star studded cast like no other in

the end of an era mario draghi hands the helm of the european central bank to christine lagarde he is held as the savior of the euro by some but many are saying he's leaving behind a weak currency that won't survive the next crisis. our way or not our way germany is governmental regulators under fire for green lighting the chinese company's products for the country's 5 g. infrastructure. stuck in the middle serbia vows to boost economic ties with russia while it also strives to become part of the e.u. . this is business. as in the berlin wall come and we start in europe after 8 years at the helm of the e.c.b. mario druggy is final policy meeting is famous 2012 statement whatever it takes to preserve the euro at the height of the financial crisis will go down in history successes leaves behind a divided governing council last month a 3rd of its members oppose his move to restart quantity of easy printing money to buy bonds from governments and companies as a way of stabilizing the euro zone. his final press conference that ended just minutes ago he was asked by a reporter what kind of

european central bank governor, bowing out, replacement christine lagarde. the cable situation is flat. people i have been talking to are saying they can't guess which way it is going to go on this. 1.29.und that the european union keeping boris johnson waiting and not letting him know what kind of extension britain will be getting. an interest rate decision out of the bank indonesia. the currency moving slightly to the upside. 1313reaching the 14,000 level r the rupiah. cmy, the fix nothing to write below the -- we are handle. with that in mind, let's look at first word headlines with su keenan. su: we start with the european union, which has left prime minister boris johnson hanging. brusselsfficials in debate granting a third extension to the process. eu ambassadors in brussels agreed to give the u.k. more time but could not decide on how much. france wants a tight deadline of november 15, but other countries prefer a little later. january 31. a decision has been deferred until friday. the u.s.dent trump, president is lifting sanctions against turkey afte

about christine lagarde, who i said was the head of the international monetary fund earlier, european central bankhe is already vocalising her opinion that some governments, germany, denmark, others, need to spend money to get their economies going. if you have a criticism of mario draghi, who had done a fantasticjob since 2011 balancing the economic problems of 27 countries, together with independent advice on monetary and fiscal policy, is that he didn't actually do enough kicking saying, "seriously, guys, you've got fa ntastically "seriously, guys, you've got fantastically high unemployment through europe, apart from germany, you need to do something. one of the ways you can do it, even though you will create debt, is to do infrastructure spending". and your creating date at a time when interest rates are so low, it is not expensive for money to be borrowed, make hay while the sunshine ‘s. we will have to leave it there. david, go to talk to you about some of the news in the media —— sun shines. great to hear your thoughts as well. please join great to hear your thoughts as well. pleasejoin in.

the end of an era mario draghi hands the helm of the european central bank to christine lagarde he is held as the savior. but many are saying he is leaving behind a weak currency that won't survive the next crisis. way on the way germany's governmental regulators are under fire for green lighting the chinese company's products for the country's 5 g. infrastructure. in the middle of serbia vows to boost economic ties with russia while it also strives to become part of the e.u. . this is business. as in the berlin wall come and we start in europe after 8 years at the helm of the e.c.b. mario druggy is final policy meeting is famous 2012 statement whatever it takes to preserve the euro at the height of the currency is own financial crisis will go down in history successes leaves behind a divided governing council last month a 3rd of its members oppose his move to restart quantitative easing printing money to buy bonds from governments and companies as a way of stabilizing the euro zone. in his final press conference that ended just minutes ago he was asked by a reporter what kind of advi

flight of economics here christine legarde she's due to become the 1st female president of the european central bank on november 1st replacing mario draghi and she head of the international monetary fund before gary and economist grace that nina. is replacing her there as managing director last week esther to float shared the nobel prize for economics for research on fighting poverty she's the 2nd woman to win the prize in the 50 years of its existence and earlier this month jennifer morgan became the 1st female head of a german blue chip company she is co c.e.o. of software behemoth and the country's most valuable company s a p now to get an expert's view on these developments i'm joined by claudia goals and they go she is the managing director of the association of women entrepreneurs here in germany claudia so good to. have you here in the studio now what are we looking at here coincidence or is it really a breakthrough of a new culture of diversity i wouldn't say so there might be some cracks in the ground glass ceiling but actually we observe that this is a snail's pace so it rather shows i say

germany must increase its spending to help the slowing global economy according to incoming european central bank chief christine lagarde the countries which have budgetary space have not really made the necessary efforts she told french radio station r.t.l. on wednesday after the 2008 global financial crisis berlin put a cap on borrowing 10 years of fiscal restraint later infrastructure is crumbling economy is stalling interest rates are near 0 the guard is joining a growing chorus of experts who say germany should stop its obsession with saving and stop borrowing. driven by the high costs of german unification germany's debt to g.d.p. ratio was approaching 80 percent as the financial crisis hit so berlin pulled the brake money the debt break that's the name given to the balanced budget amendment added to the constitution 10 years ago under it the german government can only take on new debt up to 0.35 percent of economic output and it restricts state and local authorities ability to borrow beyond their means so far so good germany weather the crisis and for the past 5 years it's managed to raise