the european union commission has plans to tighten the rules on ratings agencies. they do not go as far as some would like. his proposals were watered down at the last minute. >> the european commission has agreed to a series of measures to regulate craving agencies like standard and poor's, fitch and in jade regulate credit rating agencies like standard and poor's, fitch and moody's. issuers would have to change their rating agency at least once every three years. investors who have lost money because of flawed ratings would be able to sue the agency for damages. >> the only concern we have is that the thermometer should work correctly. so that it does not multiplied or increase the temperature established in a transparent and useful way. >> proposals have to be approved by parliament and member states. that could take until late 2012. >> first nuclear plant operator has sued the government for compensation. it has filed a complaint against the german court. it says that the move to phase out nuclear power will, -- will ost it billions of dollars and they want to b

. >> european union commission president has synthesized the enormous task facing the new greek prime minister. he was in brussels trying to reassure european union leaders that his country is not in a position -- is now in a position to implement tough reforms. reducing the debt to 120% of gdp. he's dead these goals were absolutely necessary. -- he said these goals were absolutely necessary. >> greece remained in the euro area, which is an objective that is supported by the overwhelming majority of the people. >> some commentators suggest that you need the high-powered weapons to be the financial crisis. -- beat the financial crisis. a joint solution bonds would be the best way to finance the region. >> it may be a problem. >> the commission president said much more fiscal discipline is needed. speaking of discipline, brussels is waiting for response written commitment to the promised reforms before it will distribute the 8 billion euros in aid. >> you do not have to look far to find more trouble. ratings agency moody's has posted a warning on france's credit worthiness. moody's inve

someone from the european union commission explained it to my wife at the time they did know it it sure as my wife she does that teddy my name's says she's a professor bought a. professor pushed they explained it to had that. if if they repeated the study a this has syphilis things that what we thought. would be able to hush it up again as once it was bad enough. twice is saw most of possible what i had regarded also as the most important thing studies is that that is an even response and in each case since then whatever the g.m. was they looked at the indian status of the other horse they always found that it was jeopardized when we looked at the rats who had been having the g.m. then the clip was illuminated and that we wouldn't have expected if the g.m. is substantially equivalent in other words the same then the length should be the identical but it wasn't so both the whole and the steinle tracked the lining was growing it was thickened so we thought this was evidence that there was a growth factor at work and if you apply that to transition lesion in the human for example with the

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there or someone from the european union commission explained it to my wife at the time they didn't know that she was my right she doesn't carry my name is to say he's professor part of the it's not professor post they explained it to her that. if it if they had repeated the study and it had similar things that what we thought they would be able to hush it up again it's rugs it was bad enough. twice it's almost impossible what i had regarded or saw as the most important thing a father studies is that that is and indeed the sprogs. and in each case since then whatever the jihad was they looked at the indian status of the us they always felt that it was jeopardized when we looked at the rat who did having a g.m. then the clip was you will get an answer and that we wouldn't have expected if the g.m. is substantially equivalent in other words the same then the lengths should be the identical but they weren't so open overall and just finally tracked the lining was growing it was thickened so we thought this was evidence that there was a growth factor work if you apply that to a transition les

someone from the european union commission explained it to my wife at the time they didn't know that she was my right she doesn't carry my name say she's a professor volatile it's not a professor of history they explained it to had that. if it if they had repeated the study they found syphilis things that we thought. they would be able to hush it up again as once it was bad enough. twice it's sort most impossible what i had regarded or sort as the most important thing studies is that there is and in the response. and in each case since that whatever the jihad was they looked at the indian status of the animals they always found that. when we looked at the rats who were good having a g.m. then the clip that was long distance and that we wouldn't have expected if the g.m. is substantially equivalent in other words the same then the lengths a should be the identical but they want to open all of the sternal tract the lining was growing it was thick and so we thought this was evidence that there was a group factor at work and if you apply that to a transition lesion in the human for examp

there someone from the european union commission explained it to my wife at the pride they did nurit it sure was my right she does that carried my name say she's professor part of the it's not professor post they explained it to her that. if if they repeated the study a fan's civilization's that one week. they would be able to hush it up again it's runs it was bad enough. twice it's sort post impossible what i got it also as the most important single father studies is that there is and even responds. and in each case since then whatever the d.m. was they looked at the indian status of the animal was they always found that it was the hardest when you looked at the rat who had been having way and g.m. in the clip that was illuminated and that we wouldn't have expected if the g.m. is substantially equivalent or wants the same then the length should be the identical but it wasn't so local hall and the sternal tract really aligning was growing it was thick and so we thought this was evidence that there was a group factor at work if you apply that to a transition lesion in the human for ex

the presidents of the european commission and the european union say italy is asking the international monetary fund to help monitor its economic and fiscal reforms, the european commission president, barroso says the executive commission will look at the situation. the country is under fierce pressure from financial markets to reform its finances. >>> next we go to pachari raksawong in bangkok to find out what's going on in the region. >>> thailand is struggling to maintain as flood water continues to spread in bangkok. the main crisis center is under threat for a second time. and the city subway system also now looks to be at risk. the devastating floods are creeping ever closer to central bangkok. on friday, water came close to the new location of the government's flood relief operations center. it's also a temporary home to about 600 evacuees. the center was moved there from submerged don muang airport just a week ago. workers are hurrying to raise the road before access to the center gets cut off. waters have also been seen around entrances to subway stations in northern bangkok.

direct influence of russian russia joining the w two war and changing some position of european union european commission actually in regards for the third energy package because i think it should be done again on the bilateral basis especially if gas problem want to move some some businesses away south stream and other pipeline projects archer which are excluded from the priority projects agree european union and they are under this sort of major package rules so it could be done on the separate days or so that don't think any direct involvement of w.t. or joint. figure in the markets the sell oil is still on this is on fresh concerns about global demand as fitch warned the ongoing crisis in the euro zone and hurt u.s. banks light sweet is declining one dollar sixty eight cents brant is dropping almost three dollars per barrel this hour. now despite reports of potential delays in the opening bell u.s. markets did open they went down but the dow is now recovered after a jobs report showed claims fell to the lowest in seven months last week the nasdaq is still from four percent. in europe stocks are still

or changing some position of european union european commission actually in regards to the energy package because i think it should be done again on the bilateral basis especially if gas from want to move some businesses. sell through him and other pipeline project structure which are excluded from the priority projects of the european union and they are under this sort of a package will so it could be done on a separate basis i don't think any direct involvement or w. to your joint learns. let's take a look at the markets out of pairing of this oil is still lower that's on fresh concerns about global demand after fitch warned the ongoing crisis in the euro zone could hurt u.s. banks west texas crude still around its highest levels since may one hundred one dollars forty one cents this hour brant is the gliding more than two dollars so the gap between light sweet and brand is becoming more narrow by the day. so you look at european markets nothing has changed pretty much doesn't seem like there is a reaction to this to delay the opening bell in new york which is down still one percent to

influence of russian of russia joining the w two war and changing some our position the european union european commission actually in regards with the third energy package because i think it should be done again on the bilateral basis especially if gas problem want to move some some businesses away. from him and other pipeline projects are actual which are excluded from the priority projects of the union and they are under this sort of image of package rules so it could be done on a separate basis i don't think any direct involvement of w.t. or show influence. so you look at the markets and at the close of the search and b r t s m i six are in sync down zero point five percent feeling sympathy for europe which was also showing losses on first day long the main movers most of blue chips were in the red for example bt be losing one point eight percent mine and l m k is also low after its birth brought a net profit of more than half an hour but they are declined to the lowest level since two thousand by and coal miners but he is down on one and a half a cent of climbing ten percent the previous session as i

now by the deadline for serbia as an assembler knife that that's the day when the european commission the european union supposed to make a decision on granting serbia candidate status in the meantime they know that the government of belgrade will do give just about any concessions to get candid status as a result they're trying to change nato is trying to change the situation on the ground knowing that the hands of the present government approach e.u. government in belgrade are kind and there are good actually taking advantage of the situation. i think they'll probably get a grant candidacy to belgrade but probably not begin. which is that she would go. so we had at least two more weeks until december ninth when we made more things

we know that the european union's executive commission are very strong behind these euro bonds. they see them as the best option to get out of the financial crisis. taking a step back, it's important to realize -- we talked about spain, italy, and greece going to the money markets to borrow money. that's what we callm bonds. the interest rates that investors have been forcing these countries to pay have been going through the roof. the whole idea of a stability bond, george, is to get rid of all the separate national bonds and put them all under one umbrella, the euro bonds, which means all 17 members of the eurozone would be responsible. >> one for all, all 41. >> germany has very low interest rates. germany would be the backstop. germany is adamant pit is so against these euro eu [inaudible] -- germany is adamant. it is against these euro bonds. they say, let alone the introduction, you may see a lessening of -- >> with that, if germany is not for this, this thing is not going to fly. >> it is not going to fly as it stands now. what germany wants to see and the only reason ger

changing some position of european union the european commission actually in regards with the energy package because i think it should be done again on the bilateral basis especially if gas problem want to move some some businesses away south stream and other pipeline projects are actual which are excluded from the priority projects of the european union and they are on the view so they're going to back it so it could be done on a separate basis i don't think any direct involvement of w.t. you want to influence the commodities now boyle is sharply lower this is on fresh concerns about global demand and after a spike yesterday as of the fitch warn the ongoing crisis in the euro zone could hurt u.s. banks and the economy in general w c i is down the two almost just one hundred dollars per barrel brant is two dollars sixty five cents. u.s. markets opened down bird ever since the dow jones has been pretty much floating near the opening levels that's after a jobs report showed claims fell to the lowest in seven months last week. but look at europe as another thirty five minutes on the clo

changing our position of european union the european commission actually in regards . to package because i think it should be done again on the bilateral basis especially if gas problem want to move some some businesses like south stream and other pipeline project structure which are excluded from the priority projects so the real union and they are under this so that energy package will so it could be done on a separate basis i don't think any direct involvement of w. to your joint learns. so you go to the markets to sell oil is low on fresh concerns about it below ball demand and that's wasn't because of fitch is warning of the ongoing crisis in the euro zone potentially hurting u.s. banks and w g i is still around its highest level since may it's now over one hundred one dollars a barrel brant is adds actually one hundred nine six. quick look at the european markets now you really are shedding value the footsies down two percent germany's dax one point four percent in the red this hour it's early and spanish ten year bond yields are heading. to the pressure. here in

changing some position of european union european commission actually in reverse with the energy package because i think it should be done again only bilateral basis especially if gas from one to move some some businesses away. another pipeline project there are two which are excluded from the priority projects of the european union and they are on the b.'s so that image brackets rules so it could be done with a separate business so that don't think any direct involvement of wu or to influence and real quick one last question you mentioned that industries that energy energy not not not necessarily energy efficient industries might suffer as a result of russia's entry into the w t o how do you think they might counteract what can they do to stay competitive but just to to increase the in fuel efficiency of the business and plus it's more of the political level rather than economical because by joining w two or russia russian government will have any kind of what you need to fire the corruption and inefficiency excellent economy thank you very much that was mission code the head of busines

. >>> both the european union and european commission welcomed the appointment. they said it sends an encouraging signal on italy's determination to overcome the current crisis. they also said that they will continue to monitor, based on the country's law for finance. >>> let's see how the stocks are kicking off this monday morning in japan. ramin mellegard is at the tokyo stock exchange. ramin, good morning. a lot of foe cohas been on eurozone debt but there's some domestic news that may take center stage. >> ai, good morning to you this monday morning. we had the preliminary gdp numbers out for japan, heavily scrutinized. also the three mega banks here in japan, the major japanese banks come out with their earnings after the bell and that will wrap it up for the earnings season of japan. let's have a look at the opening levels here for the nikkei and the topix, nikkei up over 100 points already, 8,637, topix up nine points. the nikkei did end higher on friday, and also in the u.s., the dow jones average surged on expectations that the new government's increase

influence of russian of russia joining the w two war and changing some position of european union the european commission actually in regards for the third energy package because i think it should be done again on the bilateral basis especially if gas problem want to move some businesses away south stream and other pipeline projects are actual which are excluded from the priority projects of the european union and they are obviously going to package rules so it could be done on a separate basis i don't think any direct involvement of w. to your joint. second of the markets to sell was low on fresh concerns about global demand that's after fitch the ongoing crisis in the euro zone could hurt us thanks . w.i. this is down one dollar fifty cents on most brands is down more than two buildings . so you look at equities european stocks are shedding value footsie is down two percent of blacks one point three in the red this hour italian and spanish ten year four year olds are heading higher this is adding to the pressure. now let's take a look at russia where pretty much similar picture of the archers is down o

european commission. economic growth in the eurozone is at a standstill. the commission says it is now time for action. >> the recovery in the european union has now come to a standstill and there is a risk of a new recession unless action is taken. >> welcome to gmt. i am george alagiah, with a world of news and opinion. also in the program, and dozens still trapped as turkey's earthquake zone is hit by a massive aftershock. nine people killed. south africa's ruling anc suspended hotbed youth leader for five years. what is next move is. it is midday in london, 7:00 a.m. in washington, and 1:00 in the afternoon in brussels, where the european union economy commissioner has just thrown a verbal grenade into what's already a pretty explosive economic crisis. olli rehn says growth in the eu has stalled. the latest forecast, powerhouse germany, suggesting growth of 1% next year. add to that the still unresolved political crises in greece and italy and you can see were commissioner rehn is coming from. >> as the eurozone is enveloped by a storm of uncertainty, there's intense debate about the way forward. the prime minister of italy stepped down, as promised.

. >>> greek's prime minister says the government is committed to the european union's bailout plan. he met with european commission president barroso. he told reporters that staying in the euro zone is the only choice for his country. >> my final remark has to do with implement the necessary reforms so that greece remains in the eu zone. >> the eu asked greece to send a written commitment to all leader that is back the new government. eu leaders want the commitments before they release the proposed aid. he stressed to the party leaders the importance of complying with teu request. >>> e gyp shon s >>> egyptians protesting against the country's military rulers are calling for a large scale demonstration. they're demanding the dissolution of the military council that provisionally governs the country. since the violence erupted on friday, 23 people have died and more than 1,900 have been injured. protesters are using the internet to call for dissolution of the military council and its political powers be passed on to a new government. clashes have spread from cairo's central tahrir square to outlying districts where

raise capital are growing louder of by the day but also causing friction within the monetary union european commission president jose manuel barroso supports the creation of a new euro bond however germany strongly opposes the idea saying it would lead to a rise in german borrowing costs and pile of dead birds across europe well would you now cross to pittsburgh who is executive director of the investment advisory firm to talk more on this think of us for being here with us in the program mr young now the notion of euro bonds a strong support from the so-called pigs countries there are comprised of portugal italy greece and spain. it's opposed by germany are and finland so do tell us why is there such a division of opinion on this issue there. both look like all wonderful arguments in this world it ultimately comes down to money the problem is that if you're people like germany or the finns or somebody who's been fiscally responsible over the course of the past twenty years or even fifty years then you know that you're reaping the rewards you can go and borrow money at a very very low interest rate in

seems that the tide of discontent is rising within the plush walls of the vast european commission bureaucracy. staff unions are threatening to go on strike after rejecting a proposal by the commission or the e.u. civil service to save a one billion euros over seven years by reducing pensions increasing working hours from thirty seven point five to forty a week raising the retirement age limiting pay rises and cutting five percent of jobs but then. they get a one point eight pay rise. and they say it's a union representing lower paid staff says the media tends to lump them with the fat cats who get most from the e.u. gravy train he wants the highest salaries of those at the top to be slashed instead the commissioners have privileges which indeed normally stopped on time they do not contribute to their pensions we pay eleven point six percent and they do not contribute anything but some politicians are astonished at the notion of a strike by officials they claim are featherbed it while ordinary workers are losing their jobs and face hardship they get excellent health care free education for their children to