one of them is the european commission, which is based in brussels and they are essentially the administrators and the bureaucrats of the european project. but also crucially, in frankfurt, the european central bank, which is the central bank for all 17 eurozone countries and the closest thing that the euro has to a fed, only it doesn't perceive itself as powerful as the fed. >> many people knew there would be a crisis all along at some point, because it was only when you had the crisis that you have the political impetus to actually put in place the political institutions that a single currency needs. (instrumental music) >> in 2009, the e.u. began to buckle under the pressure of the international credit crisis. >> the '08/'09 financial panic/crash/great recession put tremendous economic financial pressure on the entire global economy, including europe. europe suffered a worse economic downturn than the united states, a loss of gdp, employment. unemployment soared into the double digits. >> we started calling what's happening now the eurozone debt crisis, essentially in may, 2010, which is wh

from the european commission the european central bank and the international monetary fund and they're under pressure to raise as much money as possible from the privatization. efforts and that's all done in hopes to raise at least fifteen billion euros by the year twenty a sixteen and that's of course hope to reduce a greece's debt burden by at least seven percent and terms of russian gas joining us from well yes they are said to be among the front runners like you said along with the scene says to purchase a sixty five percent stake in the greek gas company and that some of the cash amounts to about one point five billion euros casing like have a mobile gas pump able to make this purchase site and taking into account all the restrictions it faces in the. well first of all if this deal does goes through the does go through then i guess from will practically control the in sawyer greek gas markets and that's in part because alpha another company which is a subsidiary all fed and that company is called to testify and it's desk and it manages by appliance and servant throughout the count

. >> the european commission must decide how the transaction tax would be collected, how much it would be, and how the proceeds would be used. it may be some time yet before they are forced to pay. >> it seems that prospects remain bright for the german economy. one of the most closely watched indicators have hit its highest level in nearly three years. what they believe the up be moved in the markets will continue to go ahead with business plans. this survey is being taken at the -- that the the german economy as well as europe could rebound. >> how did investors react to the news? we have more from frankfurt. >> there was a lot of good news to the market which is hugely applauding. the bank of japan made an open- ended commitment to buy assets flooding the market, but they think it is more damaging than benefit. even a surprising surge of the index of investors selling them could not brighten up the mood. there was talk that the head of the german bundesbank will step down. they called that nonsense and reports about the potential breakup of large eurozone banks are making the market

bad but in comparison to the rest of the nation the country is now under pressure from the european commission the european central bank and international monetary fund to raise as much money as possible from privatization of such assets in hopes or a self defense in billion euros bites one to sixteen in order to reduce greece's debt by about seven percent russian gas giant gazprom is said to be among the front runners to purchase a sixty five percent stake in depth and in terms of cash that amounts to about one point five billion euros if this deal goes through than gas from practically control the into our gas market in greece and that's in part because of another company which is a subsidiary of dep i called the desk now that manages pipelines and terminals throughout the country so that would give gas from direct access to customers in greece and guarantee a stable delivery of gas to the european markets however there are certain risks associated with this purchase due to the european union restriction that prevents combining gas extraction and its transportation under one umbrella so havi

ups abandoned the plan after encountering strong opposition to the deal from the european commission. the commission was expected to announce its decision february 5th. ups will pay $267 million to terminate the deal. swatch, famous for affordable watches, is polishing its brand by acquiring harry winston jewelers, famous for its diamonds. the switzerland-based swatch group is paying $750 million for the luxury jeweler and will assume the company's $250 million in debt. the acquisition strengthens swatch's reach into the prestige segment of the jewelry business, a stated goal of the company. starz on the rise. in its first trading day as a public company, shares of starz shot up more than 10%. the stock opened at $14.20 and closed at $15.59 monday. the company is a spin- off of liberty media corp. starz is in competition with hbo and showtime. analysts view starz as a takeover target. taco bell is going head-to-head with mcdonald's as it introduces a new value menu. calling it the "$1 cravings" menu, the concept is a direct challenge to mcdonald's dollar menu. the mexican fast food ch

that's as well as the other groups such as a european commission and the european central bank people one on says it's ok to say you know we've grown substantially in terms of growth in economics but the people are still suffering so how do they also do that. firstly very hasn't really been growth beanies debt accumulation and that's the same in in the u.s. and most of most of europe there is continuing massive accumulation of sovereign debt. for some point and that's the first thing to say thing to say is people reach far to march into economic forecasts most economic forecasts when to be. from the central banks will be on form banks best. guess. not too much should be read into these three how can the trust in the funds be reinstated then. i think that they're trying to do their their best. realistically. this was a plan through. through the european central bank through the germans and the european community that has imposed these these massive austerity measures on some european and peripheral countries of course and it's not the people's follow. the government has overspent it's

. >> it is about time the european commission and government bodies in general take a look at the problems in beekeeping. the honey bee is one of the most important links in the food chain. some say it is the third most important animal for our food industry. >> the european food and safety authority also sees cause for concern. they are supporting the call for a ban on the pesticides. now german authorities are trying to convince brussels to support the measure. >> the netherlands, italy, and france have already taken steps. i think it is time to embrace a band. >> chemical companies claim the pesticides are safe. they say a ban would put 50,000 jobs under threat and cost 17 billion euros over five years, but the eu says the onus is of the industry to work on a solution. >> they need to address the accusations made by agricultural scientists. there will be another round table on thursday, and we will consider what measure we need to take. >> the european consumer affairs commissioner is opposed to a band. in spite of the dangers presented. to help new methods can be developed that do not

this for a number of years we've managed to persuade the international monetary fund and the european commission that this is a good idea and will work and that wasn't an easy job they weren't you know they weren't falling over themselves to support what we were suggesting this reduced example is an example of what happens if you design the tax badly britain actually already has a financial transaction tax at the moment it only covers shares which is probably you know with all of the bits of the financial markets probably the least offensive bit the one that causes least problems for the rest of the economy but that tax has been in existence for about three hundred odd years and certainly hasn't stopped the city of london becoming the globe the globe's main financial center that's designed in a way that makes it impossible to avoid so that's the sort of design that we're looking for in the financial transaction tax and the i.m.f. found that sixteen of the g. twenty economies around the world have some form of financial transaction tax we want to extend it into the more recondite areas of the fin

then it looked like that was where the federal trade commission was going to go, but then the european commission -- which was also investigating google -- looked like it was going to take more aggressive action, and it seems like the federal trade commission at the last moment sort of decided well, maybe if google's going to have to play ball with the europeans, maybe we can extract similar concessions. also the state attorneys general were a bit upset that they had been left out of these negotiations and were pushing the ftc to be more aggressive. and so it's now dragged into this year. it looks like -- for a while, the federal trade commission was going to take aggressive action, and then it looked like, oh, well, now they're not, and now it again looks like maybe they'll get some sort of concessions out of google. >> host: eliza krigman? >> guest: i agree that's going to be a big issue. of i think another big issue is going to be implementing the incentive auctions to create more spectrum, so the fcc has its sleeves rolled up and is in the midst of working on that. some of the hot button issu

fda and the european commission have been working with us. what you're holding there is a cleared product by the u.s. fda, it's approved by the ema, so these products are ready to go to market. this isn't some future thing that may happen in a few years' time. it's been tested for thousands of days in hundreds of people. it has an incredibly positive safety profile. it's very, very accurate. if you swallow a digital medicine, our evidence suggests that we will detect it 99.5% of the time and identify it down to the individual pill with 100% accuracy. >> host: where are these manufactured? >> guest: so we have a manufacturerring plant in hayward in california, and it's fully built. we're in the process of of driving automation in that facility, but the goal here is to be able to make billions of these products in that facility. >> host: billions in that one facility? >> guest: that's correct. >> host: and when do you plan on -- you said it's almost ready for market. what would this cost somebody? >> guest: so that's an interesting question and

we began by asking him about the european commission decision that the credit card company be said did not break the european union's antitrust rule by blocking donations to wikileaks. >> the decision is disgraceful, but it is only a preliminary decision. hopefully, they will turn around before the end of the year. the commission had been investigating our plans for 16 months. the normal turnaround time is 14 months. the european parliament last week voted through an article 32, a section on how banks should be reformed, credit card companies performed, in order to start a conditional financial blockade, such as the one being applied. all 47 ministers last year passed a resolution saying these sorts of arbitrary financial blockade on wikileaks should not continue. it is interesting to see what is happening in the political world in europe, on the one hand, the parliament, and on the other hand, the commission. it has been known for a long time, the commission is closer to business, often successfully lobbied. hopefully, the commission will do the right thing. >> how devastating has it

union today. 60%, 80% of us are not democratic parliaments like the house of commons, that the european commissionnitiates 60% to 80% of the laws told today by the deputy ambassador of the european union and washington. i'm not making this up. so the conflict between self-governing regime and global governance is going to be witness for a while. i see his perennial. maybe not after the 20th century because it concerns going back to plato, the question of who covers into a regime. in my book i have a chat or discussing the history of the global governance and with the american founders look back to this and had a definite opinion. there were five grandmas side of an independent sovereignty and against transnational governance. the favorite david over goliath. the ancient israelites over their imperial vote. cato oversees there. the roman republic over the roman empire. english republican over the kings. the british parliament and ultimately of course american self-governance over autocratic power abroad is it that i venerable isi scholar, the wilmer kendall noted in the declaration of right, the fo

withdrawing its $7 billion bid for tnt express on expectations that european commission will be preventing that merger. in japan, japan's transport ministry has announced it's launching an investigation into causes about fuel leaks. yesterday, the airline said a 787 undergoing check necessary tokyo following a fuel leak at the boston airport last week during their test and is that's been driving a lot of this. there's a good piece in the "wall street journal" today about the dream liner and 787, what all this means and a look at some of the things that some airlines have been doing earlier to try to keep everybody on schedule both here in the u.s. and abroad. >> we need a pair of pliers. you know how we share desks with other shows and other screens? >> like you're doing -- >> they moved all of the settings on these screens. >> you don't know who it was? >> no. but i'm going to make it really tight so that nobody can move it again. >> i would like to -- don't we have cameras? is there any way we record -- >> well, i'm pretty sure i can figure out who it is. >> who do you think it is? >> it

then the european commission which was investigating google looked like they were going take more of an aggressive action. but then the panel thought if google has to play ball with europe then they are kind of upset they are left out of the negotiations and pushing them to be more aggressive. it has dragged into this year. it looks like, for a while, the trade commission was going to take aggressionive action now they are not then it seemed like the wisdom and now it looks like they will get some kind of concession out of google. >> i agree that is going to be a big issue. i think another big issue is going to be implementing the incentive option to create more of a spectrum so the f.c.c. has its sleeves rolled up and working on that. some of the hot button issues on that is, unlicensed spectrum that powers wi-fi and other devices that they are coming up with all the time. there is a real rift between the republican lawmakers and the f.c.c. over the appropriate way to create this unlicensed spectrum. lawmakers are worried they are going to create too much at the expense of money tha

in fact, i should also say that the commission, european commission will present a proposal for the creation of a single resolution mechanism and of a european resolution authority in the course of this year. so it is going to be something new on that front, as well. and it's quite clear that the -- it's quite clear that the crisis have taught us something, that you want to break the link between the banking systems and their sovereigns. and the way to do this is to have one single supervisor which is independent from the vested interest or the political interest of the national, the single national authority is the single political authorities. and have a common resolution mechanism. the ultimate target will also be to have a european deposit insurance guarantee. but that is -- is further out in time and i think there are good reasons for that. first of all, we already have national deposit guarantee insurance assistance which is working very well in different countries. so before we dismount them and create something else, we have to think about. second, this is -- this is part of a very a

we have three countries with the eurozone which have a program with the european commission and european central bank. there are two players, one which we will face with political election come february. so if not exactly a walk in the park. but it's a lot better than what they have in 2012 and they have made progress. the european central bank has improved this and they are is another government that is convinced of why go back to my principal. because we will have another year of labor and hard work and we can find the macroeconomic framework and boost this to create jobs and have the social fabric of countries in that zone are federalized. >> i am assuming you do agree with this? >> yes, the toolbox has improved the situation in the fundamental policies of the government has taken, more than the exceptional measures. however, execution has not been stellar. we should have addressed this three years ago. we balk and eventually we have to recognize that it wasn't viable. we went to rounds of that. in the last round which was supposed to be the last one, we pulled in using the collective

the financial times reports that the european commission wants to strike back by slapping a duty of 50% on chinese coated steel. >> and for a look at asian commodity demand, we're joined by chung yang. good to see you. thank you for joining us. we had that strong china trade data out. what was interesting was quite a lot of stockpiling and rebuilding. i'm wondering whether they are doing that with commodities. >> i think for the euro for 201 is definitely the year of china play with the return of a china play again, especially with the view that, okay, we have seen the china economy has -- from -- and they're coming to stabilizing the space in the q4. for this coming friday, we're going to receive china gdp data that's going to be pro to be substantially important, especially for the commodities currency for australian dollar, for example. so it's going to be the play of china again for 2013. >> okay. what is driving that? if it's real demand as opposed to, you know, some inventory, if it's real demand, what's driving it? >> i think the real demand coming from china, especially with the

shairs in tnt express said this morning it's withdrawing its offer for the company because of european commissionk the sale. tnt says there's no realistic path towards approval of the plan and the group has not received any approach for the likes of fedex, either. >>> swatch will assume up to $250 million of the brands pro forma net debt. car carolin roth joins us. >> swatch are shares are trading at an all-time high. the price target is $750 million. $250 million. that's very important to point out that this transition does not include any mining activities of the parent company. the parent company will change its name to dominion common corporation. the transportation, it secures much better access to north america and that is the rationale behind the deal. he also said switch may generate some 9 billion swiss franks. that would be yet another record. let me tell you what the analyst community is making of the deal this morning. some say it's pricey, but swatch has so much catch on its balance sheet, not a problem, and it will add 5% to swatch's sales. back over to you. >> thanks for that, caro

and there was an unwelcome intervention for the smp when the president of the european commission, joseuel bros. sew, said that a newly-independent scotland would have to reapply for membership of the european union. in a letter, he argued that if part of an e.u. member state broke away, it would cease to be part of the e.u.. but when he appeared before a lord's committee, scotland's finance minister, john sweeney, dismissed the reasoning behind the letter. >> when president barrasso makes the remark he makes about a part of a country ceasing to be part of that territory, no tricky reference to that remark. and i think that's really very significant because on my reading of the tricky position -- and i was struck just in preparing for the committee on rereading some advice that was produced by the house of commons library about 12 months ago -- they make the point in that document that there is no provision within the treaty on european union that provides for the scenario that president barrasso has cited in that particular paragraph of his letter. >> this really does seem rather bizar

. >> it is true that the view presented today by the commission shows that youth unemployment has reached a dramatic level of 23.4%. it is a european phenomenon, for clarity also. the commission has proposed measures which we support. the u.s. guarantee, quality apprenticeships, training -- the youth guarantee, quality apprenticeship, training -- you just showed it. we believe we need to go further. we have to invest. we need a social contract. it is -- it is japan today that decided to invest $80 billion in the recovery. >> that was the european trade union confederation's patrick issue talking to us earlier. police in belfast are bracing for another night of violence. city, authorities deployed water cannons for the fifth night of violence in the capital. this comes in the wake of ongoing protests against the raising of the irish flag over belfast's town hall. >> the latest clashes erupted following a peaceful march when some 250 demonstrators from east belfast return from the city center. officers were attacked with petrol bombs and stones while rioters damaged vehicles with hatchets and sledgehammers. >> the union flag -- a sym

. >> it is true that the view presented today by the commission shows that youth unemployment has reached a dramatic level of 23.4%. it is a european phenomenon, for clarity also. the commission has proposed measures which we support. the u.s. guarantee, quality apprenticeships, training -- the youth guarantee, quality apprenticeship, training -- you just showed it. we believe we need to go further. we have to invest. we need a social contract. it is -- it is japan today that decided to invest $80 billion in the recovery. >> that was the european trade union confederation's patrick issue talking to us earlier. police in belfast are bracing for another night of violence. city, authorities deployed water cannons for the fifth night of violence in the capital. this comes in the wake of ongoing protests against the raising of the irish flag over belfast's town hall. >> the latest clashes erupted following a peaceful march when some 250 demonstrators from east belfast return from the city center. officers were attacked with petrol bombs and stones while rioters damaged vehicles with hatchets and sledgehammers. >> the union flag -- a sym

while the european commission's summarize -- in a charmingly understated fashion stating in general inbanks welcome the group analysis but argue that a compelling case for mandatory space of trading activity hasn't been made. they felt it wasn't back by the required evidence and there was a need for a thorough impact assessment. with all due respect, to my friend in the european financial regulatory community, when a regulatory proposal is viewed within the e.u. as being too harsh on the financial industry i think it's a clear sign it's time take a step back and reevaluate. regardless of what happens with respect to the vickers or like end proposals, even if all of the most allegations wall street's harshest critics are set -- even if they act out of self-interest. the financial institutions know that the volcker rule is not going away. as such, they have already begun the process of determining which of the activity will be prohibited under the rule as set forth in the text of the dodd-frank act and proactively moving to shut down their truly propry tear trading desk as appropriate. a

they see fit but at the moment the european union is telling other countries what to do it doesn't represent people at all it's it's dominated by an unelected commission based in brussels which proposes legislation which binds states in all throughout the european union we should return powers to national parliaments as would have british want to do and that's what should happen in other countries as well as as hugo mentioned the french and dutch rejected the e.u. constitution but of course they bought it in five another name the lisbon treaty and forty eight on those peoples anyway the people do not want more europe the political class does they want more power to be handy to an elected unaccountable institutions because that gets rid of the annoyance of having to deal with members of the public who can who cannot vote down a you've always and and shatter their beloved dreams really the answer is more power to national democracies because that is only the only institutions that have legitimacy within you not only get it not only now tell me where you need secret without minutes being taken tony there is a precedent that could be set here i think that

coalition government from backing away from his original proposal while the european commission's recenteport summarizing the responses received to the likennen report acknowledges the widespread opposition to the proposal in a charmingly understated fashion, stating: in general banks welcome the group's analysis but argue that a compelling case for mandatory separation of trading activities hasn't been made. they felt the proposal wasn't backed by the required evidence and that there was a need for a thorough impact assessment. with all due respect to my friends in the european financial regulatory community, when a regulatory proposal is viewed within the e.u. as being too harsh on a financial industry and harmful to markets, i think it's a clear sign that it's time to take a step back and reevaluate. regardless of what happens with respect to the vickers or likennen proposals, even if all of the most vitriolic allegations wall street's harshest critics set forth are true, even if our financial giants act solely and ruthlessly out of craven self-interests, those financial institutions

and here the european commission and also the european-level administration general needs to, perhaps, adjust a little more to the global challenge. especially to my colleague, david cameron, you, too, have addressed competitiveness, seeing this as an essential issue of insuring prosperity of europe for the future. and this is why over this past year and in the years ahead we should not only address the question whether investors be it, um, sovereign funds or private investors, um, how can we assure them that their trust in us is justified? at least from a european perspective we, obviously, want to be as competitive as possible to insure the prosperity of our people. that is our interest. and that is what we have addressed already and what we need to continue to address. we are not yet where we want to be, um, and we're not yet out of the woods, but a lot actually has happened here that goes in the right direction. one of the big engines of growth, um, of the global economy and also for us in europe, um, is free trade. we have, unfortunately, a lot of protectionist tendencies in the

while the european commission's recent report summarizes the responses received and it acknowledges theidespread opposition of a proposal in a determinedly understated action. it argues that a compelling case for mandatory separation of trading activities hasn't been made. they felt that the proposal is not backed by the required evidence and that there was a need for thorough impact assessment. with all due respect my to my friends in the european financial regulatory community, what a regulatory proposal is used within the eu, considered too harsh on the financial industry and harmful to markets, it's a clear sign that it's time to take a step back and reevaluate. regardless of what happens respect to the proposals, even if all of the most vitriolic allegations set forth are true, even if our financial giants act solely and ruthlessly out of self-interest, those financial institutions no that the vocal volcker rule is not set. a hearty begun determining what activities will be in place with the dodd-frank act and how to shut down the truly proprietary trading is appropriate. according

google gets a break from the federal trade commission - but not so fast in europe. the european union is also investigating whether google hurt rivals by manipulating internet searches. the e.u. says its probe continues. if found guilty, the search giant could be fined billions of dollars. and it's an etf free-for-all. exchange traded funds are becoming the investor's choice over mutual funds. data for the first 11 months of last year show 10's of billions of dollars more were poured into the lower-fee funds. nearly $120 billion was taken out of stock funds, while etfs' total amount climbed to $154 billion. it was a banner week for the first week of the year. is dan haugh of pti securities cashing in and heading to hawaii? > > well, it seems that way. we certainly had a good week. the iwm, the russell 2000, went up 5 3/4% in a four day week. so that is a pretty good week last week. > were you a little surprised at the gains, particularly after the thursday softness in the markets? > > really when you had the activity in washington finally being somewhat resolved, even though the

it seems like the federal trade commission sort of decides that well, maybe, google have to play ball with the europeans. maybe we can extract similar concessions and also the state attorney general will look into it and they are upset and we are pushing the ftc to be more aggressive. >> host: what do you think, eliza krigman. >> guest: i think it's a big issue to implement these options. the ftc has its sleeves rolled up. there are some hot button issues on that. the power of wi-fi and other amazing devices that they have come up with all the time. there is a real risk between republican lawmakers and the sec over the appropriate way to create this. we will be watching closely to see how this formulate a policy to allow smaller players to get through the action. >> guest: on the topic of google antitrust, that is the most watched by the commercial sector issue. it is really going to set the tone. essentially google is offering rules and they will become isolated and it will put barriers for smaller companies. if they were to find some sort of cases of action as was mentioned, what we saw, i think, was

european union. our own u.s. commission on international religious freedom said he should be sanctioned.e got this letter from the pastor from jail saying he was beat and tortured every day, until that happened the state department acted like they couldn't do anything. suddenly with all the media attention they called his wife, okay, now we'll try to help. except, it is thursday, and his trial is on monday. and we didn't find out that until last monday. we heard nothing else from them. we don't know what they're doing. whether it is back channel, it would be nice to know if they're actually trying. martha: you make a great point. time is running out. just by way the background on his story, he was in iran, had been back and forth all the time over the years. has family there. his wife and children as you see. we showed pictures of them at disneyland. they're here in the united states. he is an american citizen. but he was leading house churches which they didn't like in iran. i won't do that anymore but setting up an orphannage in iran. that was his mission as he went back and forth. why

european institutions? can we justify commissions decade ever larger? can we carry on with an organization that has a multibillion pound budget but not nearly enough focus on controlling spending and shutting down programs that haven't worked? and i would ask this, when the competitiveness of the single market is so important, why is it in an environment council, a transport council, and education council of not a single market council? now, the second principle should be flexibility. we need a structure that can accommodate the diversity of eu's members, north, south, east, west, large, small, old and new. some of whom are contemplating much closer economic and political integration. and many others including britain they would never embrace that goal. i except, of course, that for the single market to function we need a common set of rules and a way of enforcing them. that we also need to be able to respond quickly to the latest developments and trends. competitiveness demands flexibility, choice and openne openness. or europe will fetch up in a no ma

european union to ease terms on its multi-billion euro bailout loan. the irish prime minister has told eu officials that solving his country's debt crisis is his top priority. >> the eu commission president was in dublin on thursday for a meeting to coincide with ireland taking over the rotating presidency. he also praised the irish government's efforts to bring its debt down. >> the irish prime minister and his deputy are looking ahead to six months at the helm of europe. it is a chance to tout ireland as proof that the u.'s reforms for the debt crisis can work. >> economic growth was stronger than expected at the end of last year. the deficit is lower than predicted. >> the irish government itself is confident. it aims to use its experience to help the e you find a way out of the current crisis. >> obviously, the president and his team are very conscious of ireland's own recovery story. we will work very diligently and energetically in terms of our agenda. >> ireland's first task will be to forge compromise on the eu budget in february. other priorities are boosting growth and progress toward an effective e you banking union. ireland hopes that will allow it to strike a deal

european union to ease terms on its multi-billion euro bailout loan. the irish prime minister has told eu officials that solving his country's debt crisis is his top priority. >> the eu commission president was in dublin on thursday for a meeting to coincide with ireland taking over the rotating presidency. he also praised the irish government's efforts to bring its debt down. >> the irish prime minister and his deputy are looking ahead to six months at the helm of europe. it is a chance to tout ireland as proof that the u.'s reforms for the debt crisis can work. >> economic growth was stronger than expected at the end of last year. the deficit is lower than predicted. >> the irish government itself is confident. it aims to use its experience to help the e you find a way out of the current crisis. >> obviously, the president and his team are very conscious of ireland's own recovery story. we will work very diligently and energetically in terms of our agenda. >> ireland's first task will be to forge compromise on the eu budget in february. other priorities are boosting growth and progress toward an effective e you banking union. ireland hopes that will allow it to strike a deal

european union to ease terms on its multi-billion euro bailout loan. the irish prime minister has told eu officials that solving his country's debt crisis is his top priority. >> the eu commission president was in dublin on thursday for a meeting to coincide with ireland taking over the rotating presidency. he also praised the irish government's efforts to bring its debt down. >> the irish prime minister and his deputy are looking ahead to six months at the helm of europe. it is a chance to tout ireland as proof that the u.'s reforms for the debt crisis can work. >> economic growth was stronger than expected at the end of last year. the deficit is lower than predicted. >> the irish government itself is confident. it aims to use its experience to help the e you find a way out of the current crisis. >> obviously, the president and his team are very conscious of ireland's own recovery story. we will work very diligently and energetically in terms of our agenda. >> ireland's first task will be to forge compromise on the eu budget in february. other priorities are boosting growth and progress toward an effective e you banking union. ireland hopes that will allow it to strike a deal

the southern european countries the level of state involvement in the economy has grown substantially over the last few years and what happens is of course that any significant very commission will have a massive impact on the economy being as dense accumulation that's the same in the us and most of most of your memory is continuing the massive accumulation of of sovereign debt. has to be tight for some point this was a plan. through the european central bank through the germans and then the european community has imposed these these massive austerity measures on the southern european peripheral countries of course it's not the people's follow the government. it's not the people's fault. the banking system has failed. and needed to be back but it's the people who have to deal with the dead through higher taxation and. enjoy all these these massive measures. coming up later in the program here on r.t. . more u.k. parents are forced to go hungry to feed their children while charity is the only hope for those on the breadline this story is just to have for you stay with us for that and also voicing discontent in the digital age hacker group anonymous wants washington to accept