unemployment poverty and austerity portugal's ten million citizens were kept solvent by the european stability mechanism but the country was forced to privatized state owned companies. then china came along on a shopping spree many chinese state owned companies bought into portuguese insurance companies banks real estate and indirectly even into media as well. also into portugal's profitable state owned energy company and take us to portugal e.d.p. . china three gold has bought up twenty percent of it seven years ago now it wants to buy it completely it's offering nine billion euros for. the chinese government is behind what are ostensibly business deals does that make portugal vulnerable to political blackmail you know how. in a certain way we're already dependent but we've also got brazilians angolans other european countries here and not just china china found a welcoming climate in portugal. portugal was in my car for a long time so there was always a traditional connection and the biggest investments came during the crisis they were really important for us. you've seen the potential problem and is

but how did the european stability mechanism . the eurozone crisis is or as greece prepares for the official end of its bailout program on monday but is it really over here is more. than in august well there's been. plenty of talk about an economic recovery there's not much of it to be seen here on the streets. then you make this crisis is far from over there are a lot of cuts and a lot of difficult years ahead for us to keep us in the situation hasn't improved and it won't change anytime soon. i'll call mine if it's hard we're struggling to live on. this family business has been here for forty years giving up is not an option for andrea not as jr he's changed his business successfully during the crisis from selling luxury days to cut to size foam rubber like many business people he feels burdened by taxes and demands a long term strategy from the government in order to continue and that we have to reduce our taxes and we have to. do. more thank you for the economy. over taxation is one of the obstacles that hampers investment bot

the head of the european stability mechanism said greece will be monitored more closely than other countries that have emerged from rescue progress in an interview with the german weekly dash speed skating asserted the eurozone crisis is over as greece prepares for the official end of its bailout program on monday but people in greece have seen little benefit in fact many are much worse off than ever before one in five are still unemployed and a slight economic growth is little comfort for those who saw their pensions shrink to a minimum. offense in august while there's been much talk of an economic recovery there's not much of it to be seen on the streets crisis is far from over there are a lot of cuts and a lot of difficult years ahead for us. to kick up dust so that the situation hasn't improved and it won't change anytime soon. oh my maybe it's hard but i think we're struggling. because family business has been here for forty years giving up is not an option for india not his job where he changed his business successfully join the crisis from selling luxury do face to cut to size form ro

the had of the european stability mechanism said greece will be monitored more closely than other countries that have emerged from rescue programs in an interview with the german weekly. asserted the eurozone crisis is over as greece prepares for the official and its bailout program on monday but people in greece have seen little benefit in fact many are much worse off than ever before. athens in august well there's been plenty of talk about an economic recovery there's not much of it to be seen here on the streets. then you make this crisis is far from over there are a lot of cuts and a lot of difficult years ahead for us to kick up us a bit in the situation hasn't improved and it won't change anytime soon. i'll call mine it was hard but i were struggling to live on. this family business has been here for forty years giving up is not an option for andre not as junior he's changed his business successfully during the crisis from selling luxury days to cut to size foam rubber like many business people he feels burdened by taxes and demands a long term strategy from the government can order t

story many times a year or so even though it could actually come to an end the head of the european stability mechanism said greece will be monitored more closely than other countries that have emerged from rescue programs in an interview with the german weekly desk . asserted that the eurozone crisis is over as greece prepares for the official end of its bailout program on monday but people in greece have seen little benefit in fact many are much worse off than ever before one in five are still unemployed and a slight economic growth is little comfort for those who saw their pensions trink to a minimum. athens in august most locals are now on holiday on one of the islands no one can afford to go abroad the much publicized upswing is no it to be seen when you make this crisis is far from over there are a lot of cuts and a lot of difficult years ahead for us. is that the situation hasn't improved and it won't change anytime soon myself well coal mine it was hard but i were struggling to live on this family business has been here for forty years and giving up is not an option adrienne at this changed his

the rescue fund known as the european stability mechanism has given athens loans worth nearly 70 billionast three years. the greek government was forced to introduce a series of unpopular austerity measures as a condition of the loans. the search operation for those missing after a motorway bridge collapsed in genoa, in northwest italy, has ended. the official number of people killed is 43. a 200—metre section of the morandi bridge gave way in busy traffic on tuesday, plunging vehicles and chunks of concrete to the ground 45 metres below. an egyptian man, accused of hijacking a plane, has been deported by cypriot authorities after a two—year extradition battle. seif al—din mostafa was flown back to cairo amid tight security. he's alleged to have used a fake suicide belt to hijack an egyptair plane flying from alexandria to cairo in march 2016. pakistan's new prime minister, the former cricket star, imran khan, has promised to tackle corruption and improve the state of the country's finances. he made the pledge in his first address to the nation. mr khan also said he would refuse to live

unemployment poverty and austerity portugal's ten million citizens were kept solvent by the european stability mechanism but the country was forced to privatized state owned companies . then china came along on a shopping spree many chinese state owned companies bought into portuguese insurance companies banks real estate and in directly even into media as well. also into portugal's profitable state owned energy company and take us to portugal or e.d.p. . china's three gorges bought up twenty percent of it seven years ago now it wants to buy it up completely it's offering nine billion euros for the d.p. . the chinese government is behind what are ostensibly business deals does that make portugal vulnerable to political blackmail you know how. well. you know sort of the way we're already dependent but we've also got brazilians angolans other european countries here and not just china china found a welcoming climate in portugal. portugal was in my car for a long time so there was always a traditional connection and the biggest investments came during the crisis they were really important for us. and. the

the european stability mechanism paid the equivalent of $17 billion, $11 billion of which will go intoh buffer. athens can use it to meet its financial obligations for almost two years. the remainder is earmarked for paying down some of greece's still considerable debt. israeli banks face tougher scrutiny with the securities regulator imbeding supervisors in the lenders to crack down on corporate misbehavior. staff will work inside c.b.a. and embattled wealth manager a.m.p. the treasurer says the banks need to know that if they do the wrong thing, we'll come down on them, quote, like a ton of bricks. and a coalition is ready to name a government in pakistan. the p.t.i. party says it has 174 lawmakers on its side. more than the 172 needed for an absolute majority. it expects to have as many as 182 in the end. likely to be named prime minister when the national sameably convenes. opposition parties claimed widespread fraud in last month's lection. this is bloomberg. ♪ rishaad: skeptics going to get back to the diggers and dealers. to ask if the love affair with lithium is -- [inaudible]

the european stability mechanism played the equivalent of $17 billion, $11 billion of which will go into to use to meet financial obligations for two years. the remainder is earmarked for paying down greece's considerable debt. australia's big banks face tougher scrutiny with the regulator, urging lenders to crack down on corporate misbehavior. the treasurer says the banks need to know that if they do the wrong thing, they will come down on them like a ton of bricks. down asw ye stepping ceo of pepsico. the move highlights the dearth of prominent female ceos in corporate america. she will remain chairman until early next year. she is the first woman to lead the company. thereplacement will be just sixth ceo in the 53 year history of the company. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am jessica summers. this is bloomberg. ramy: thanks very much. battle lines are drawn in the sand as the world's two largest economies prep for a prolonged trade war. the trump administration has portrayed