markets believe that this is exactly what the european central bank will decide at its next meeting later this month but with all this within the mandate of the european central bank. well of course that's a matter of discussion especially here in germany many conservative monetary policy pundits believe it would not be within the mandate but you know mario draghi has constantly been repeating that it's the political leaders who have to come up with better ideas in order to make the economy work and it has to be said since the financial crisis the e.c.b. has failed to meet the target of price stability which is you know a consumer price inflation of 2 percent or slightly below that so the central bankers think that they have to come up with some creativity and in frankfurt thank you. jobs are a battleground going into greece's national election on sunday the government's austerity drive has left deep scars youth unemployment in greece is at 40 percent he's leading in the polls of both promising tax relief and strong economic growth. the mood at the south and market ahead of the election is dreadful many feel deceived by the government des

now she is stepping down to become president of the european central bank of course as the 1st woman ever. of course the european parliament needs to approve christine lagarde in her potential new job for a closer look at her career let's cross over to washington and our correspondent helena humphrey how are the people at the i.m.f. sad to see christine lagarde go. i think there is certainly the sense case kristoff that she has a very strong legacy at the international monetary fund remember of course that she came to the fund out of a very difficult time 2011 we just saw the abrupt departure of dominique scalds kahn amid allegations of rape it was also the often off of the global financial crisis so a very tough economic period leading christine legarde to once famously quipped that had the lehman brothers bank been the lehman's assist is that the global financial crisis might not have happened a toll so certainly a firebrand for more women in positions of economic leadership and power and of course the greek debt crisis is well very much put in the spotlight despite the fact that ch

of the central bank. there are two appointments who will help boost the technical the one on the left is the vice president of the europeanentral bank. chief lane is the economist of the european central bank and former govererr of the irish central bank. j job,oever getets the t top ththere will be plenty of chchlenges ahead. ststephen: growth in the euro ze is sluggish. inflation is below the central banks' target as well. the banks have two manage the economy are limimited as well. there are structural issues with the way the ecb works. banking hasowards been slow. nadia: farmersrs are protesting ovover a new deal. gett took k over a y year the deal s signed last friday. french farmers have been protesting they are u unhappy tariffs would be cut. they say it wiwill hurt their livelihood. ofa show of ang i in frontt government offices across france. >> they are trying to kill us off. it is unacceptable. we are against it. we are going to fightht. tomorrow, we will still be here. >> under the deal, europe wouldd imports,riffs on beef representing 1.2% of annual eu consumption. french farmers worry the agreement would thr

influence when it comes to to the to the world on a global scale however the head of the central european central bank has had so much not just economic but also political power in recent years with the economic slowdown but the with the ripple effects of the economic crisis from 2009 so this post really wields a lot of political influence maybe more than just the name being the head of a century. bank might suggest yet is one of the biggest economic regions in the world isn't europe ok you mention monetary policy what do you think we could expect from christina garden when it comes to policy in the well there might be a negative bias towards her when we look at a come as countries like germany for example that are known to have a sort of more conservative more hawkish approach when it comes to to monetary policy you know less accommodative less creative so christine legarde for example has been calling for a haircut for debt relief in the greek debt crisis that's something that you know german the majority of german politicians fiercely opposed but christina guard was a person who said well we have t

you we have to history making nominations to women for the jobs of european commission president and president of the european central bank 1st and foremost to remind everyone why are these jobs so crucial and so coveted. the president of the european commission is the most visible person in all of the blocks of jobs not only that but the person in this position gets to decide which countries get which commission jobs so if it's are still of underlying will be handing out you know who's in charge of agriculture or who's in charge of the digital agenda who's in charge of energy and for some countries these are very very crucial positions because their interests are tied up in what policy is being made for the next 5 years that this commission will preside so this is a very influential job and everybody wanted it that's why it took $33.00 different summits to come to agreement on this no one was willing to back down on their candidate and president of the european central bank you've got 19 of the 28 countries using the euro the president of the european central bank has a huge influence over what kind of policy is made mar

european central bank's. prior to going into the summit, many argued the next head of the european central bank had to be a realal bank governor, someone who had served in a national central bank, had experience with central monetary policy. lagarde has a very long career in international politics, almost a crisis integer, but there is no central bank experience. many will also tell you this is a central bank that could become more political, so that is something to keep in mind. tomorrow there will be a vote at the european parliament in strasburg. the question is will this be voted and cleared? political convention will tell you that european leaders would not risk a defeat that would put everything up in the air. they have done this because they are sure they have the numbers. amanda: great to have your thoughts on this, maria tadeo. our next guest says the decision on european leadership may be more important than all the attention given to global trade wars and iran. b. managing director at riley. what is the relevance of what is happening in europe right now, related to the rest of the world? >> the eu el

in germany would have preferred to see the chief of our national reserve bank the bundesbank here in germany in the top position of the european central bank or booze there in frankfurt thank you. and of course we'll have an update on the proceedings in brussels in the news at the top of the hour. the united states has threatened to impose tariffs on a further $4000000000.00 worth of european union goods in a dispute over acrobat subsidies the e.u. and the u.s. accuse each other of using state handouts to give their respective aircraft companies a competitive edge parmesan cheese all lives pasta and scotch whisky face high in politics it's taken the total value of e.u. goods hit with the u.s. tariffs to $25000000000.00 u.s. dollars the u.s. said it will impose peanuts is tariffs on its own worth 12000000000 of its. us education giant boeing reportedly hired developers at an indian subsidiary to create the software that's thought to have led to 2 deadly crashes of its 737 max jets according to bloomberg some of the programmers were paid as little as $9.00 an hour the plane software was being developed at a time when the company was lay

furthermore you have another 4 top jobs to be filled among them the head of the european council or the head of the european central bank 2 of those 5 top jobs within the european union should go to a woman so a female candidate needs to be found another job should go to an eastern european country one job should go to a small one job should go to a big country and then you have party political considerations so you have a whole lot a set of factors which every time creates a bit of a horse trading situation so it is has always been difficult but this time around it is particularly difficult. ok yorks of 5 top jobs what's so important about being president of the european commission. of course the president of the european commission sets the political agenda for the club of $28.00 nation states which which formed formed the e.u. in terms of real political power it is rather limited it is the most powerful job though within the institutions but what it clearly is it is a platform for for politics it is it sets the guidelines for for this european union and so it very very much depends on the poster who fills that job be

of the imf. the papers are pointed out that she does not have a central banking experience so far and previous leaders of the europeanentral bank have all been national heads of their central banks before they got the post. the other thing we must remember is that christine lagarde was in the middle of the negotiations with the european central bank and with the european union when it came to the bailout of portugal, greece, ireland, in the middle of the eurozone debt crisis. she had to work through all of that with angela merkel and other leaders sitting which is why mrs merkel has been saying that if you can run the imf you can run the ecb. we shall see. i would love to hear your take on this. it is quite interesting. despite the fact that the uk is leaving the eu, the language spoken at all meetings in the european —— union will be the english language, won't it? because that is the language. this article about the british council has found it has put a report out to show that the uptake of language now in options where children decide on their options for gcs thes, languages falling dramatically and sums reports

the better independent president of the european central bank. back. in the right. mood even emaar paper can force connla actually is 2 questions 1st of all the think it speech in canada as a model now is completely ready to be buried and secondly. do you foresee the possibility of another package is there the possibility in the case of the european parliament says we don't want this thanks. no i am not a prophet it's not for me to to assess what their real chance to achieve. that success in the parliament i will be the vote on thursday and i will inform and explain everything i can about this process and our intentions but of your right it's always of the huge question mark if the this is right we have parliament i mean to have to debate or discuss to argue. and then to decide to. but i hope that after the political leaders are not on the prime minister prime ministers will do everything to to convince our colleagues in the parliament to. support this that there is a project. when it comes to bits and candidate than. it was clear from the very beginning that for the

resignation from the imf, her decision to become the head of the european central bank. good morning, asia, hello world. it's a wednesday. that you could join us foran it's a wednesday. that you could join us for an exciting addition of asia business report. i am rico his own. let's start off with facebook, the social media giant's plans for cryptocurrency has come under further attack by us politicians. the latest comments follow criticism by president trump, the treasury secretary steven mnuchin, and jerome powell. appearing in front of the senate banking committee, facebook executive david marcus defended this project. i believe that if america doesn't lead innovation in digital currency, and payments areas, others will. if our country fails to act, we could soon see a digital currency controlled by others, whose values are dramatically different from oui’s. are dramatically different from ours. i believe that liber can drive does it have changed for many people and provide an opportunity for leadership consistent with our shared values. north america reporter dave lee

christine lagarde is nominated to head the european central bank. >> of course, we all had to give a bit. we all had to move. once again, the european council has proved the fact that it is typical of doing so. given the disparate conceptions in europe, amongst the various party groups i believe it to be an asset. the labor leader had been seen as a front-runner for commission president the talks started on sunday. there was a big pushback for countries including slovakia. poles haveans and been strongly criticized over their record on the role of law -- rule of law. donald to us has been wary -- wary ofusk has been putting things to a vote. they highlighted not just national divisions but the struggle for you influence. they are meant to take into account the results of the recent european elections. the group that did best was a center-right group. the lead candidate denounced the package as a backdoor deal and europe at its worst. the e.u.rkel says could explore new rules to avoid repeating the squabbles we have just seen. for example, direct elections and transnational lists. what

becoming president of the european commission we know that she is an ally of the german chancellor as well we've got christine legarde who's going to be the new european central bank all of these are picks in choices if you will of america are we seeing the next chapter or even the the i guess the final plans of uncle america's chance or are they being sealed in completed before our very eyes right now i think. oh i think last night in particular was an extraordinary the last 24 hours was an extraordinary sort of move movements on the chess board if you like and it's a funny thing isn't it because we think of angle a miracle as somebody who's a very inclusive politician who's not really a power player necessarily she just does the logical things she often sees it and it's all very soberly done but actually when you stand back and look at where we are now as you say angela merkel seems to actually strengthen her position in the midst of all this she's now at the center of this nexus she's got her process in the defense ministry as i say poised if not exactly already placed to become a successor she's got closer life on the line there in brussels she's got christine

better to have the economist as the head of the european central bank she's a lawyer. and of course the be challenged the very difficult topics in the next few months and years so interest rates are extremely low it's very difficult to get lower developments like the cryptocurrency said very complicated and so maybe an economist would have been better but on the other hand has suffered at the i.m.f. she is deeply involved with motley economic issues because issues like financial stability and i'm sure she will do a very good job she's already clashed with germany on things like the greek debt crisis so there has already been tension there between her and some member states how do you think that will play out with germany being such and playing such a huge role as as the e.u.'s finance to really well this is true i think she has to do more to have deficits to stimulate the economy to to try to reduce a supposition and i think she's right on that and if she insists on this will be ok because as i said the roof on maneuver for monetary policy is extremely limited but there

well then for example the european central bank could consider buying other assets instead of bonds for example company shares stocks this is something being discussed among central bankers the european central bank could also make some of its very unconventional monetary policy measures bolder for example it could push the negative deposit rate further down in negative territory you know that's the rate the bank introduced in order to force commercial banks to give out money as loans rather than keeping it many people on the markets believe that this is exactly what the european central bank will decide at its next meeting later this month the european union has spent several years trying to advance the economies of the western balkans but it's got competition on its head in montenegro china is pumping funds into the e.u. candidate state at an increasing rate and companies and besting in infrastructure. china's road and bridge corporation is building a brand new highway across montenegro from the capital pod go richard to neighboring serbia price tag 840000000 euros an entire village o

skateboarders in the shadow of the european central bank don't care about the monetary policy of the central bankers the guardians of the euro behind the skatepark have been toiling for years to keep the economy on the financial markets going mario draghi wants a stable euro and healthy public finances for the euro zone and he reminds politicians about this at every press conference. women titian of structural reforms to newark around trees need to be substantially stepped up to most of europe of activity and growth potential reduce structural unemployment and increase resilience after the global financial crisis it was dragging and not the european governments who acted as the savior by buying up around 2.6 trillion euros in government debt now it's really a euro zone's number one problem child is getting itself more and more into debt dragging has to keep interest rates low so that member states do not become insolvent. after iran's ayatollah mahdi on the one hand maher drag established a monetary union in 2012 however he also steered the european central bank very close to the pol

lagarde for many years, and i am absolutely sure that she will be a very good president of the european central bankstine lagarde is someone we know very good in ireland who will continue the policies of mario draghi. >> she has all the necessary skills in order to head the european central bank. >> i do not believe that christine lagarde has such a broad experience. she knows how to consciously address issues. she will be very committed. nejra: that was a number of e.u. leaders commenting on the nomination of christine lagarde asked the next president of the ecb. joining us from our partner in mumbai is -- m dani burger. great to see you -- and dani burger. great to see you. india not moving a whole lot today. what is going on? good day to you. consolidation coming through for the benchmark indices. largelyolidation is because of uncertainty ahead of economic survey as well as the presentation of the union budget which will happen later on in the week. however, if you do see the sensex advancing marginally, it would be the third straight day of gains. should we see the indices close again, aeen, bu

welcome but 1st will christine legarde become the next chief of the european central bank e.u. leaders in brussels are still tousling over who will get the top jobs in the union today's already marks the 3rd day of deliberations with so far little results and little unity over who should head the european commission or become its top diplomat but is there no a breakthrough over who could become the new president of the european central bank with the leg up the current head of the international monetary fund is being floated for the position now let's get the latest on this from our correspondent in frankfurt where the e.c.b. is based contribution corner.

brent: we are talking about the head of the new european central bank and the president of the european commission. why are these jobs so important? teri: the president of the european commission gets to decide which countries will get which posts in the commission. a five-year post is a very powerful commission -- position. they will decide who will take the agriculture job, who will be in charge of the digital agenda, who will be in charge of the economic policy. these are significant posts that will have a lot of impact that the eu takes for the next five years. that is obviously a very visible job. if it is ursula von der leyen she will be the face for the next five years. that carries a lot of weight. the fact that christine lagarde has managed the imf through choppy waters over the next several years makes her a very strong candidate. it is not have to be rushed seem to be a lot of oppositions. nobody seems to be worried about the nomination. brent: thank you. earlier, i spoke to max hoffman and i asked him whether the lawmakers will approve the eu leaders pick for commission pres

come up with a conclusion and a compromise and you know we're talking about the new head of the european central bank we're talking about a new president of the european commission why are these jobs so important here. well the president of the european commission gets to decide which countries will get which posts in that commission 5 year post very powerful positions the president of the european commission will decide who will take the agriculture job who will be in charge of the digital agenda who will be in charge of economic policy these are very significant post the going to have a lot of impact on the direction the european union takes for the next 5 years so that's obviously a very a very visible job and she will be the if it's are sort of underlying she will be the face of the commission for the next 5 years the president of the european central bank i think it's it's self-evident that that carries a lot of weight again the fact that christine lagarde has managed the i.m.f. through some very choppy waters over the last several years makes her also a very strong candidate there didn't seem t

central bank could make money cheap enough could create an artificial money. by itself and so the fed did clearly did work together with the european central bank with the bank of england with the people's bank of china leader that was kind of separate story with the bank of japan and so forth to create enough money to put into the financial system to keep it safe for itself and ultimately what they did is a transferred all of that money into the banks into financial assets into burgeoning stock markets like like a ton of sort of crack into an attic up in up and never took it away and that meant someone else was going to pay on the other side and the people who paid on the other side was everyone else in. the. headline news an odd see a wrong plans a further boost of its uranium enrichment program potentially breaking the 2050 nuclear deal for a 2nd time and drawing condemnation from e.u. nations and the united states but the iranian foreign minister blames europe for failing to secure the agreement or stop washington's unilateral withdrawal. on the stories that shape the week russia pays tribute to the 14 sailors who were killed in a fire on a nuclear submarin

christine lagarde may be the next president of the european central bank. s one of the key pieces in the latest late candidates for the eu top job. various officials have been wrangling of the job since sunday. president trump once tanks on the wall -- on the mall in washington for the fourth of july and it looks like he has them. spottedotographer several armored vehicles in a d.c. railyard. officials said tanks were being transported from fort stewart, georgia. a few hours from now, the u.s. versus england and the u.s. world cup semifinal. the second tomorrow between sweden and the netherlands. the winners will face off on monday. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i am courtney donohoe. this is bloomberg. guy? guy: thank you very much indeed. time for the stock of the hour. shares in delta are rising after april a married qqq report showing better than expected -- 2fter a better-than-expected q report. taylor riggs is here with more. everything across the boa

christine legarde one of the figure heads of the european austerity that pushed greece to the brink of collapse is tapped to head up the european central bank coming up to show election time in the cradle of european democracy where every 3rd person is now at risk of poverty we go to athens to investigate the front lines of european union new liberalism. and on the day of europe's largest exhibition on palestine we ask our member and keynote speaker. the israeli government and u.k. . lobbying groups are trying to shut the event down last with over a 1000000 people expected to take to the streets of london today to celebrate pride we speak to britain's 1st out muslim drag queen messy for love or about growing up as gay on the fast track and fighting for equality under theresa may all of the more coming up in today's going on the ground the 1st how out of touch is u.k. labor leader jeremy corbin while his calls for a civil service inquiry demonstrate he may now understand there may be a deep state attempt to destroy him what about the policies of those who he has chosen for his shadow cabinet it's something the outgoing prime minister tourism

just one central bank could make money cheap enough could create enough artificial money by itself and so the fed did collude did work together with the european central bank with the bank of england with the people's bank of china leader that was kind of separate storage with the bank of japan and so forth to create enough money to put into the financial system to keep it safe for itself and ultimately what that did is a transferred on that money into the banks into financial assets into. burgeoning stock markets like like a ton of sort of crack into an attic up it up and i never took it away and that meant someone else was going to pay on the other side and the people have paid on the other side was everyone else and. is 50 years old and has 3 children that she is raising by herself. to feed her family she collects plastic on the beach. but not the best to have a party going to clamber over the coals for stuff to look like and to play when you have gotten a bit off. a little too lazy to notice a good enough for both of them a bit like them about an accident like your mil i don't have. evidentially death sonny is also leaving its mark in tanzania. by working 8 hours a day

are being thrown around for the other top jobs include christine legarde for the head of the european central bank the e.c.b. i tell us more about her that post and why all of these posts are so important. to her process is so important because many observers say at least economically minded that the e.c.v. job is even more important than the commission president because this is where the stability of the euro is guarded to where the fiscal policy is made and christine lagarde is of course being a name is being put out by the french and there is a certain amount of worst. going on if germany gets the e.u. commission president then the french might get the e.c.b. i mean that's what happens here in those back rooms where leaders are sitting and trying to figure out how to make the how to make this package and the e.u. commission is very important because it is it the heart it's the biggest institutions and it's the heart of european policy rules and regulations come from the laws are proposed it's guard you know the treaties and it also sets the political tone that means to know we'll put for instan

just one central bank could make money cheap enough could create enough artificial money by itself and so the fed did collude did work together with the european central bank with the bank of england with the people's bank of china leader that was kind of separate story with the bank of japan and so forth to create enough money to put into the financial system to keep it safe for itself and ultimately what that did is a transferred all of that money into the banks into financial assets into burgeoning stock markets like like a ton of sort of crack into an attic up and up and never took it away and that meant someone else was going to pay on the other side and the people who paid on the other side as everyone else in. this hour's headlines stories around annoyances its plan to boost your rhenium enrichment nuclear crisis enters a new phase that marks a further rollback of the 2015 deal ofter to rome's deadline for sanctions relief expired. russia pays tribute to the 14 sealers who were killed in a fire on a nuclear submarine in the bar and see. also as 5 heard gen soon through the skellies over washington and ruled through the streets this week will trump comes under fire f

central bank could make money cheap enough could create a. enough artificial money by itself and so the fed did collude did work together with the european central bank with the bank of england with the people's bank of china leader that was kind of separate story with the bank of japan and so forth to create enough money to put into the financial system to keep it safe for itself and ultimately what that did is a transferred all of that money into the banks into financial assets into burgeoning stock markets like like a ton of sort of crack into an attic up and up and never took it away and that meant someone else was going to pay on the other side and the people that paid on the other side was everyone else in. this nobody you know the it's true but in your circles modesty. and you don't move for the much food that was a little wooden move to do more of a new. look. at what in good part of the new you're already in the eastern seaboard never you know most interesting. to me. that data. from. my grandfather was murdered on our family form. 2 days off for i was baptized in 1809. he wasn't act's by 2 black mean he and his wife was sitting watching television in this r

european union german defense minister. is due to become the new president of the european commission and christine that god currently head of the i.m.f. will become the leader of the european central bank if the european parliament agrees to both candidates. china has condemned what it's calling gross interference by outside countries in hong kong's affairs following the storming of the hong kong parliament by pro-democracy protests as the.

line becoming president of the european commission we know that she is an ally of the german chancellor as well we've got christine lagarde is going to be the new european central bank all of these are picks in choices if you will of america are we seeing the next chapter or even the the i guess the final plans of uncle america's chance or are they being sealed in completed before our very eyes right now i think. so i think last night in particular was an extraordinary the last 24 hours was an extraordinary sort of move of movement on the chessboard if you like and it's a funny thing isn't it because we think of angle a miracle as somebody who's a very inclusive politician who's not really a power player necessarily she just does the logical things she often sees it's and it's all very soberly done but actually when you stand back and look at where we are now as you say angela merkel seems to have actually strengthened her position in the midst of all this she's now at the center of this nexus she's got her process in the defense ministry as i say poised if not exactly already placed to become a successor she's got a close eye life on the line there in brussels and

also, christine lagarde will become head of the european central bank — the bank in charge of the eurosees the economies that use it. she is currently the head of the international monetary fund. also a formerly french finance minister. next president of the european council — the council represents the leaders of the eu's member states. charles michel, the belgian prime minister, is picked to replace donald tusk. and spain's foreign minister josep borrell has been nominated as eu foreign policy chief. here's the european council president donald tusk. five years ago, we needed three months to decide and still some of leaders were against. this year it was three days and nobody was against. even if germany abstained on the commission president due to some issues in the government coalition. they supported the whole package. first and foremost, we have chosen two women and two men for the four key positions. a perfect gender balance. it's taken days of talks to get to these nominations, here's how our europe correspondent gavin lee describes the process. bizarre, long, like a very compl

being nominated for the post of the head of the european central bank how significant is that. that is extremely significant maybe the at least the 2nd most important job in the european union because she's the guardian of the year of stability and she is responsible for fiscal policy and we heard earlier from the business side of things that of course in case of new turbulence at the financial markets or how will she react she is the one who holds europe's economics and economic future in her hands wall and so that is extremely important then we have the belgian prime minister sean michel to lead the council he needs to have a lot of steadfastness to sort of survive these extremely long negotiations and then we have to spend a foreign minister burrell as a top diplomat in europe that is a compromise because spain absolutely wanted to have opposed as a gift for agreeing to fund a line so that's the whole package that's the people who are going to lead europe if this is still the if the european parliament in 2 weeks time it to them indeed barbara right barbara basell there in br

just one central bank could make money cheap enough could create enough artificial money by itself and so the fed did collude did work together with the european central bank with the bank of england with the people's bank of china later that was kind of separate story with the bank of japan and so forth to create enough money to put into the financial system to keep it safe for itself and ultimately what that did is a transferred all of that money into the banks into financial assets into burgeoning stock markets like like a ton of sort of crack into an attic up and up and i never took it away and that meant someone else was going to pay on the other side and the people that paid on the other side was everyone else in. the 11. to get the full. of it and i mean we. really don't see them. to see the. from. the. left the full stuff up in this country about half of the population lives in poverty in this country. people every day this is they don't know what they are going to eat. and they don't they don't know what they are going to feed their children. and no one deserves to live their lives without basic services. don't know what. you don't have electricity. because you ar

just one central bank could make money cheap enough could create enough artificial money by itself and so the fed did collude did work together with the european central bank with the bank of england with the people's bank of china leader that was kind of separate story with the bank of japan and so forth to create enough money to put into the financial system to keep it safe for itself and ultimately what that did is a transferred all of that money into the banks into financial assets into burgeoning stock markets like like a ton of sort of crack into an attic up and up and never took it away and that meant someone else was going to pay on the other side and the people have paid on the other side as everyone else and. there's nobody you know to move through it in a circle as long as you. can you can move forward into the new much food that was a little bit easier to do when you. look. at. the whiting good sort of where you're already in the eastern seaboard you know but you know most interesting. cities. that. you know world of big part of the group has a lot of things and conspiracy it's time to wait to dig deeper to get the stories that mainstream media refuses to tell