euro. let's talk some euro.euro to a chart to '04, you can clearly see how important the 120 level is. we basically bounced off it again. you want to watch this spot. quickly, two etfs. the lqd, investment grade. new all time highs, these charts go back to that inception of the etf. the next is the hyg, the high yield etf, also back to its inception. you can see it's trending in the right direction but hasn't taken out its 2012 highs yet. back to you, tyler. >> day one of the meeting, day one now. polling top economists and experts joins us now with some exclusive results on the future of the euro zone. >> tyler, two central banks expected to do something this week n. the federal reserve will talk about that in a second. i want to focus on the european central bank and what our euro survey of 50 experts expects from the european central bank in the next six months. off err negative interest rates, not very popular. cut the refi rate, 43%, getting up there. additional ltos and purchased additional sovereign debt.

yeeds broadly speaking are still at euro era highs. stefan joins us from the madrid stocks exchange. what's the take there? >> it's not ideal, but it could be worse. let's summarize it, we expect spain was asked to pay more than for the last auction for the three and six-month treasury bill. 2.3% for the three-month treasury bill compared to 2.3% a month ago. for the six-month bill, 3.69% for the average yield and that's to compare with 3.2% in june. it's not a record level. it's the highest level since november, but clearly it's an -- it remains very expensive for such short term maturity, as you compare with the level of 1% that spain was paying for its six-month treasury bill in march of this year. it's probably the last auction until september probably because there are some auctions on the agenda for the months of august. traditionally the treasury can sell these auctions during the period. probably we won't see any option from spain until the beginning of september. meanwhi meanwhile, something interesting is happening on the bon

sponsored a prize for the person who comes up with a nice disruptive way for a country to exit the euro is a lot simon wilson thanks for talking to us today now why did you decide to sponsor this prize i suppose the prize because there was an enormous intellectual vacuum nine months ago people were not talking about this the euro was designed with all lines of retreat cut off and it looks increasingly unstable and the one thing you can be sure of is if it does break up we need a plan. and i think what this prize has done is it's taken a subject that was to prove it was a forbidden subject and it is now bought into mainstream debate moving that it's produced a fantastic finalist who actually come up with a very credible answer and why was the capital economics plan which won in the end so much better than anyone else's i think it was because it was so comprehensive it was very clear it was well argued it wasn't unreasonable in its expectations of what institutions would have to do it was clear around where the pain would be and where the game were being and it's at a party that will allo

british prime minister is slammed by athens after he proposes blocking greeks and people from weaker euro zone nations from entering the u.k. . been through jeff britain should be looking through their own banking scandal before you pull through judgement on all the moves remain in london in just a moment. as violence in syria boils and despite the best efforts of peace makers it's a lack of food and soaring prices that's taking its toll on people who haven't even taken sides in the conflict. and europeans are hailing their parliament's decision to reject the controversial anti-piracy act which has been slammed for violating internet freedom. thank you for joining r t where we bring you the latest news twenty four hours a day seven days a week well athens has lashed out against the british prime minister over his remarks the u.k. could restrict the greeks from and during the country they move could also target citizens of other struggling euro zone nations but athens said london should be looking closer to home to solve its own financial trouble let's now talk live to our tease laura smit

do you think anybody with over a billion euros is actually going to have to take ten percent of this tax levy you know to bail out the sovereign nations of europe that number struck me as odd to us that anyone with over two hundred fifty thousand euros is considered rich is going to have some wealth confiscated that doesn't seem like a very high bar the point is here max the sovereign nations like ireland had no debt very little that one of the lowest debt in the o.e.c.d. as a government debt then anglo irish and a golden circle of well connected guys defrauded the nation of ireland with fake bogus debt they went bankrupt and said here buddies in the treasury buddies in the prime minister's office here take our debts give it to those peasants out there so those debts were transferred to the sovereign nation and everybody has kept going about their business as if it's all normal now we're seeing how. how they plan on paying for it they gave you know we've had the last three years where those who incurred those debts those who wrote those fraudulent debts have scurried away but here th

the euro zone is still swampland certainty on one day the euro drop to with sweet a half year low against the british pound and european equity markets sliding while germany's bonds are extending their gains that's all signs that europe's strongest economies given to the crisis all of the details in the business bulletin in about ten minutes. time how to ride out the recession how europeans are preparing to survive by themselves their politicians and currency flounder we report in just a few minutes. is going to be. resistance is not the politics but the culture of. this couldn't. something on its own. cultures of resistance on the march. you're watching our team live from moscow well there's a second wave of social justice protests sweeping israel this time triggered by a man setting himself on fire. fire at a rally marking the first anniversary of demos that led to thousands of people gathering again in the streets live now to tel aviv for our middle east correspondent paula we're joins us now with more paula how big are the protests from what you've seen so far. well they set me growin

the euro recovering from recent lows at the moment. we stay in the and the european commission president pledged to deliver on obligations to remain in the . >> that is right. in his first athens visit since the crisis started in 2009, bar asso met with greek and italian prime minister's to find ways to cut spending. >> meanwhile, athens is reviewing it greek austerity measures. the ecb has the power to decide whether greece has done enough. >> with a report on the austerity program in september, in the meantime, greeks are voicing their own opinions. >> he made his first visit to greece in three years. he says athens will meet austerity targets. >> i have been unequivocal that the european commission's stance by kris. i am here as a friend of ries. -- greece. greece can make it. together, greece and europe will make it. >> the country's ongoing recession has been a huge burden. greece's economy keeps contracting. the construction sector alone has shrunk by 40%. that is why the latest austerity plans were met with astonishment. >> they

euro is a waste and. there is it is for our. max in fact is a global bank heist going on speculators want low rates to fund their respective bets and squeeze out the entrepreneurs squeeze out the savers squeeze out wages keep rates really low the library scandal is about keeping rates low by manipulating rates quantitative easing is about keeping rates low by engaging in radical central bank policies like operation twist the lowering rates is about central bank collusion with other banks to keep rates near zero to fund speculation to squeeze out population of workers and savers. and what's the kaiser report throughout the day here on r.t. . russia is stepping up its efforts to help solve the crisis in syria foreign minister sergei lavrov has been meeting representatives of the syrian opposition in moscow talks with the syrian national council are due on wednesday the group reportedly wants to persuade russia to back foreign intervention ass and she wants president bashar asad out positions supported by washington lawyer of met o

it was a similar story for the euro stoxx 50. in new york, trading is still under way for the dow jones industrial average, currently little change. for the euro against the dollar, declining, $1.2260. british bank hsbc says it is expecting a $2 billion hit from scandals over money laundering and miss selling of investment products, but that is not putting that much of the debt in the firm's profits. >> net profit fell just 8% to about $8.5 billion in the first half of the year. earlier this month, hsbc admitted that it failed to apply rules against money- laundering. clients were allowed to move funds from countries like mexico and iran into the u.s. without proper checks bit of a u.s. senate report said that ultimately benefited drug dealers and terrorists. >> france's call for an emergency meeting at the u.n. this year on syria. the diplomatic deadlock that the security council remains as a fighting rages on, especially in the northern city of aleppo. >> the army claims it has retaken one district in aleppo, but the rebels dis

meanwhile the eurozone is preparing to pump thirty billion euros into spanish banks by the end of the month e.u. finance ministers are also expected to give madrid an extra year to cut its budget deficit to three percent it comes as the leaders from britain and france are holding talks today to develop a strategy to tackle the euro crisis by david cameron. aiming to set a clear plan for europe despite differences of opinion when it comes to fiscal policy or to have clashed on economic issues in the past cameron calling for budget restraint and pushing for more public spending but this is the french president's first visit to britain taking office two months ago. part a straight to egypt now to start of the r.t. world update it's where the parliament has convened for a brief session despite being ordered by the military to dissolve it was elected earlier this year after the country's first general election since the revolution it was banned by the supreme court in cairo last month the parliament met in defiance of the ruling after a call from the new president mohamed morsi it is the l

next drafting a plan for struggling countries and how to quit the euro as the leading british business chief tells archie why he thinks they should go. today i'm talking to lord simon wolfson who is a multi-millionaire and chief executive of the next fashion chain he's also just sponsored a prize for the person who comes up with the least disruptive way for a country to exit the euro is a lot so ivan watson thanks for talking to us today now why did you decide to sponsor this prize i sponsor the prize because there was an enormous interactive vacuum nine months ago people were not talking about this the euro was designed with all lines of retreat cut off and it looks increasingly unstable and the one thing you can be sure of is if it does break up we need a plan. and i think what this prize has done is it's taken a subject that was to prove it was a forbidden subject and it is now bought into mainstream debate moving that it's produced a fantastic finalist who actually come up with a very credible and why was the capital economics plan which won in the end so much better than anyone el

the euro is down. euro dollar 1.2104. dollar/yen weaker at 7. yen super. aussie dollar pulled back as well, sterling against dollar 1.5542. that's where we stand right now in europe. let's get tracey to remind us what happened in the asian session earlier. she's in singapore. hi, tracey. >> well we're not escaping from the selloff. asian markets in the red thanks to spanish debt worries and concerns over china's growth. hong kong stocks suffered deeper losses than it appears down nearly 3%. index heavyweight. citi securities, china's largest listed brokerage tumbled nearly 7.3%. the shang kay composite dropped marking the lowest closing since march of 2009 and extending five straight weeks much loss. japan's nikkei 125 tanked to a six week low as local exporters with large exposure to europe were hit hard by the strong yen. south korea's kospi dropped 1.1%. sold banks and energy stocks ahead of a busy weeks of earnings report. t lastly india sensex is feeling regional selloff down almost 1.5%. take a look at shares of maruti suzuki is tanking 6% after the

zone but the euro may just completely. collapse it's not the advantages to having it's injury more than symbolic it's true that it's convenient for the poorest when the movie tween the states and. countries that did not enter your old. have done as well or better. than those that. did it didn't seem to be a big. positive benefit to. the members the ones that didn't join you know are sweden. denmark and the united kingdom one of the reasons why the euro has failed there just retired such a young age there just now. and make promises to the citizens which you can honor that's bad no question will get upset when. promises are not on the western europe has no choice except to reform and they have started to reform. effectively cut their tax rates they've privatizers saving system along the lines. of australia and this is an effective tax reduction. the about the the europeans are working has gone up a little but they've raised the retirement age. at a little bit slower phasing some of this in this very little discussion of how

the euro will keep depreciating not because of the concern but also the relative weakness of the euro area fundamentals, we expect the euro dollar will fall towards 115 in one-year time and also the euro-yen, close to all time low of 88. >> let's take a look at the latest market figures. >> astronauts on the space station are waiting on a cargo ship that shipped out on saturday. >> it was a fast launch from the space station accessible. for getting satellite into space, businesses will be able to explore that technology. the japanese space station on saturday, a astronaut will use robotic arm to use cube sat in september. >> reporter: on saturday, the rocket carried five cube sats. they are ten centimeter cubes that the satellites pack a lot of scientific power. they are a way for researchers to get the platform in space. students at japanese university, build them. it is called niwaka. officials at the space agency set strict limits on size and weight so the cube set meets international standards. the students had to squeeze a satellite into a liter and make it no heavier than 1 1/3

thirty billion euros are set aside for. the future. the german court. the new rescue fund. to the southern region of where emergency workers and volunteers are trying to help those affected by flash floods. and moves the mediation forward syrian opposition groups visit the capital. of pressure of president assad to go while rejecting any dialogue. a very warm welcome to you from all of us here at the moscow. the eurozone is ready to poor thirty billion a year rose into spain's beleaguered banks by the end of this month the e.u.'s finance ministers are also expected to grant madrid one more year to cut its budget deficit meanwhile the leaders of britain and france are set for talks at downing street to hammer out a joint strategy to battle the crisis especially worrying is the well of cash running dry one german court is set to rule whether the euro zone's new bailout fund is violating the country's constitution the unequal rules inside the currency union it may prove to be its downfall as a boy reports. not taking from others and not giving your own that's what made this co

the euro zone's preparing to pump thirty billion euros into spanish banks by the end of the month with madrid expected to get a further years grace to cut its budget deficit to three percent meanwhile the british and french leaders have met in london to discuss the eurozone debt crisis both leaders share a common interest in a path towards growth and recovery david cameron stated that action agreed at the recent e.u. summit needs to be taken immediately with both men backing plans for a banking union european central bank sort of vision. the two have clashed on economic issues in the past it's coming calling for budget restraint and alone pushing for more public spending it's the french president's first visit to britain since taking office two months ago. remember all our stories and much much more available for you right now online just log on to our dot com here's what we got lined up for you there at the moment offline offensive the russian version of the we could p.d.f. free information website has shut down for protest what is taking a stand against. it with reports of a sharp ri

euro zone countries. and their fines are paid for by the various countries they're paid for by the taxpayers but the permanent find us voted and in january dead of night and has no ceiling it starts out at seven hundred billion euros but it can be raised there is there are no limits and you can't sue the people who are running them fine so they're pretty much dictators of the spine and now and june to i'm twenty ninth your eyes and use summit where the members voted and it. was also in the dead of night and there was a ruckus raised by the prime minister as anybody italy and spain where they said that they were going to block everything that they were doing there if it wasn't agree that this money could be used directly to bail out banks that would go directly to private banks rather than being fined the first through the governments which meant that mail at their banks. and also they want to just basically they wanted easier terms for getting the bailout money but one of the terms was that we go right to

zone's last resort bailout fund was just designed to safeguard the euro is constitutional opponents of the fund say the plan threatens the rights of german citizens by giving brussels the power to spend their money meanwhile many worry that inequalities among e.u. nations may lead to the currency's downfall this story to r.t. is oksana boyo. not taking from others and not giving your own that's what made them their company grow from a small soap shop a century ago into a multi-million euro business nowadays to him running a company is of course different from running a country or union of countries but all require fiscal discipline and i think it is before we do anything. policy it is not acceptable that spain subsidizes things that are not subsidized in germany and it does in. trading all across europe mr is in favor of keeping the euro what he doesn't agree with is that common currency should necessarily mean diluted responsibility in mind often for getting the land i think countries like spain will greece use the euro in quite opportunistic ways they used to pay eight or nine per

we need the euro zone prices to be resolved.hen i gave out my three potential options, for the state of the british economy, the option which would be best forced us his early short term action to deal with the problems in the markets and some moves toward fiscal and other forms of union for the yeaeuro zone countries and that would give a calming affect the long term to the markets and that would help us. it has big implications for them. that's why it's very difficult for this to happen. it would be the best outcome for the british economy. >> what changes in the european union need to be made which would not only impact euro zone members but on those outside like the united kingdom? >> this is a much more difficult question, because you can see the sorts of choice is the euro zone countries need to matke. how those choices are made, is it a series of one large european tree or a series of small trees some members of the european union can go ahead and do things under the existing treaty -- i don't know the answer to that ques

now the eurozone is ready to poor of thirty billion euros into spain's beleaguered banks by the end of the month but the money may soon run dry as a german court is set to rule whether the euro zone's new bailout fund is violating germany's constitution and the unequal rules inside the currency union may prove its downfall as artists on a boycott now reports. not taking from others and not giving your own that's what made them their company grow from a small soap shop a century ago into a multi-million euro business nowadays to him iranian company is of course different from running a country or a union of countries but all require fiscal discipline and. before we do anything there should be unified fiscal and economic policy it is not acceptable that spain subsidizes things that are not subsidized in germany and it does it in our common experience trading all across europe mr is in favor of keeping the euro what he doesn't agree with is that common currency should necessarily mean diluted responsibility in mind often forget the land i think countries like spain or greece use the euro

euro/sterling here, 0.7969.e're not far from the 0.7950 mark, where that would be a 3 1/2-year low, so not far away from 3 1/2-year lows on euro against the pound. that's where we currently trade right now in europe ahead of the u.s. open. but what about asia today? tracey has the update for us once again out of singapore. tracey? >> good morning again, ross. well, over here in asia, investors for the most part have shrugged off these easing measures from central banks around the world. asian markets mostly landed in negative territory, but the shanghai composite is a big out-performer today, adding more than 1% in a choppy trading session, but major banking shares dragged the hong kong market lower. the hang seng index finished just a tuck below the break-even point. and the nikkei is lower over fears over a bond bill dammened the mood and now they put pressure on the boj to follow suit. kospi lost about 0.9% on heavy selling. samsung electronics fell after record q-2 profit, but saw longer-term worries in euro

we're in all time highs with the euro. that 1239.40 and 120 ht 40 was twot-year low we hit last week. we hit them in the same way. shows you the level of volatility on euro trade. tracy joins us for the latest out of asia. hi, tracy. >> good morning to you, ross. well, another risk-on day for the regional markets. hong kong shares rose for a fourth day up more than 1% led the major financial heavyweight hsbc advanced more than half a percent. mainland china underperforms the rest of asia. it lost about 0.3%. steel companies are the biggest losers. a profit warning from chinese companies dragged it lower. the independent nikkei rose for a fourth day to one-week closing high by fund managers. the kospi extended the winning streak rising more than 2% to the highest closing since june with banks, construction places and large cap tech leads the charges. australian charges fare as well. there's a smaller nan expected decline to lift sentiment. let's check oind ya. it's flirting with the point at he the moment. kelly, over to yo

in fact, that size rose to 337 billion euros, up by about 50 billion euros from may. so again, underscoring the degree to which spanish banks are looking to the central bank for help. the spanish government has agreed to back the 17 regions. madrid will assume budget control in some regions with deficit targets said to be tightened in 2014. stephon pedrozzi joins us from madrid. how did the government afford these measures? >> reporter: it's necessary. they don't have any other choice because in spain, the central government spends only 20% of the public money. the regions which have really a lot of power spend around 30% of the public money. so it was crucial for the government to reach an agreement with the regions to cap their deficit for this year and the next coming years. the budget minister yesterday met with the head of the 17 economic regions, a target of 1.5% of gdp for this year but lowered the deficit target for the next year to 0.7% of gdp instead of the original plan which was 1.1%. potentially it means more austerity measure for spanish people. the regi

by russia with 658 billion euros, and south korea with 643 billion euros.apital flight is a huge problem for developing countries. according to the report, rich citizens from such nations have more money in foreign banks than the total debt of the countries. they put considerable blame on multinational banks which play a key role in capital flight. the wealth is often transferred legally, but countries are losing hundreds of billions in tax revenue. >> the situation is also putting a dent in patriotism. in the case of france, it is not just capital flight that is a problem. some of the wealthier residents are packing up and leaving the country entirely to avoid paying higher taxes. >> a lot of flocking to friendly nations like britain and switzerland following the french president's new wealth tax. >> it is nt just the super rich on the move. even europe's middle-class is trying to protect its wealth from governments they no longer fully trust to tax them fairly. >> swiss real estate is especially attractive for investors right now, and one of the hottest l

profit to a four billion euro loss. and more on the euro zone now from cyprus has rejected the terms of the e.u. bailout and has turned to russia for money the country's president told the european parliament russia's loans are not only cheaper they have less strings attached cyprus reportedly needs around ten billion euro deep spending cuts forced by the e.u. bailouts have caused violent protests in greece spain portugal and also some parts of italy and then now on to the currency markets let's see what's going on there and as you can see the euro is lower against the dollar after a fairly heavy losses on wednesday the ruble examined the day mixed it was lower to the dollar and the trading higher to the euro and now on to the russian markets the r.t.s. and the my six finish the day lower after posting gains on wednesday then why six actually gave into the downward pressure toward the end of the trading session and has spent most of it in the bois crude prices let's see those and they are mixed to sour as you can see ri

saving savvy german luxury shopping sprees these days to safeguard their cash against the troubled euro as we reported shortly on the program. next syria's president assad says he's prepared to leave his post if that's the will of his people and it brings peace in syria meantime in cairo the country's opposition coalition insists people must retain their right to defend themselves before they could be any deals with the syrian leadership. in a report. president bashar assad has syria is now ready and will welcome any solution to the ongoing crisis here in the country if only it guarantees the country's sovereignty commenting on the geneva peace initiative to create an interim government uniting the opposition and current regime the syrian leader has also stated that he's satisfied that the document stressing that it's up to the syrian people to decide the country's future in another interview here just recently to the turkish newspaper he has sat that he wishes that this downing of the turkish plane by serious never happened three days after the geneva meeting while the skepticism is gr

thirty billion euros are set aside for spain's ailing but the future remains uncertain a german court could ban the new rescue fund. and the russians send in aid to the ravaged southern region. where emergency workers and volunteers are trying to help those affected by the flash floods. moves in the mediation forward syrian opposition groups to visit the capital with talks set to question the rebels have been violating the u.n. peace plan. for moscow this is r t. good to have you with us the eurozone is ready to pull thirty billion euros into spain's beleaguered banks by the end of the month that you use finance ministers are also expected to grant madrid one more year to cut its budget deficit meanwhile the leaders of britain and france are set for talks in downing street that's a hammer out a joint strategy to battle the crisis especially worrying is the well of cash running dry a german court is set to rule whether the eurozone new bailout fund is violating the country's constitution the unequal rules inside the currency union it may prove its downfall this report now to artie's ta

soviet union there's also a list a concept cannot survive a year in germany and a euro in greece may look exactly the same but the underlying productivity is drastically different the introduction of the common currency may have promised greeks the same living standards as in germany but didn't make them work just as effectively you cannot compare the infrastructure and the productivity of a greece of a. guy with a german guy i mean we're working until we draw up germany the euro two of the central planning close to commoners the same system that we had before nine hundred eighty nine in the east it has nothing to do with the free market it has nothing to do with capitalists because. countries and banks cannot go bankrupt any more germany may have a generous social system but even here they deal of being a constant provider of subsidies for the rest of europe doesn't sit well with the majority germany has a unique experience of dealing with both capitalist and socialist systems and while domestically this country is all for fair competition and self-reliance in a larger european cont

germany is by far the strongest economy in the euro zone but it still felt the punch of the euro crisisuncertainty over the currencies trade has led some germans to stash their cash away from the bank's books on a boy explains. better for economy good for business dittrich ross has been selling vintage cars for almost three decades but he says he's never had a better run of trade than in the last year and a half and use of the euro's instability has old the wills of his business so well there is stiff competition event to become one of his customers. to the gold of the garage you have the markets in your garage the markets the old cars and i think they buy more than. before the crisis price tags in his collection run from a mere fifty thousand euro to massive three million for the bands. and while in the past the majority of his clients have a real passion for classic wills dittrich ross is now dealing with a new kind of buyer those who just want to part of their money for profit this car is a b.m.w. . only built two hundred fifty two cars and in two thousand and. five you have to spend

central bank chief mario draghi do what ever it takes to save the euro said markets and the euro searching did de. >> draghi's tough talk indicates he is prepared to have the ecb buy out the bonds of troubled euro zone countries. >> that is a step too far for berlin. courts still have to rule on the constitutionality of the bond purchase mechanism. >> mario draghi's words were listen to closely across europe. >> the ecb is willing to do what ever it takes to preserve the euro. >> draghi did not say what the ecb is preparing to do. it could lower borrowing costs for spain and italy. that is what it did for greece. draghi says it is essential to respond to the market's. >> they are giving us messages. if you ask me, it is a powerful question. will we be able, shall we be able? the answer is yes, of course. >> the market responded positively to draghi's words. that could ease pressure on struggling countries and by the time to rebuild the economies. >> the spanish team of-year bond yield is below 10% now and european bond shares went up 2%. the dax ended the day up by 2.75%. the dow jones up

one of the first and most prominent euro skeptics says europe's common currency takes away a crucial element of the free market system that is fair competition your idea of common market started as a very liberal project and now says liberal project is becoming a very socialistic pol pot's former soviet union common currency means no competition between currencies. common debts means. responsibility for your own debts so in russia for instance. faded away but in europe it's coming. the auspices of so your crisis but i think we have seen same destiny as a soviet union there's also a list a concept cannot survive a year in germany and here in greece. some may look exactly the same but the underlying productivity is drastically different the introduction of the common currency may have promised greeks the same living standards as in germany but didn't make them work just as effectively you cannot compare the infrastructure of the productivity of agrees of a. guy with a german girl i mean we're working until we drop in germany the euro two of the central planning close to commoners the s

meanwhile the euro zone's preparing to pump thirty billion euro into spanish banks by the end of the month with madrid expected to get a further years grace to cut its budget deficit down to three percent meanwhile the british and french leaders have met in london to discuss the ongoing euro zone debt crisis david cameron said that action agreed at the recent summit needs to be taken immediately with both men voicing backing for the plans for a banking union under european central bank super. said that the two countries have a common interesting growth and recovery are the leaders of economic issues in the past with cameron calling for budget restraint. pushing for more public spending it's the french president's first visit to britain since taking office two months and. are starting with egypt let's get to the r.t. world update for you now it's where the parliament been for a session despite being ordered by the military to dissolve it was elected earlier this year after the country's first general election since the revolution but was banned by the supreme court in cairo last month

that should save around 40 million euros. it sounds positive, but if you look at the details of that, the 5,000 or so employees are not going to be laid off. they're going to be moved into other departments. so yet again a reform that looks positive on the outset. when you drill into the details, perhaps, they're not following through. that's what we need to see from the greek government. they need to show willing in order for us to at least try and get involvement from the eurozone leaders for financing. now back to you. >> julia, thanks. a great point there. back to patrick o'keefe, director of economic research from j.a. cohn. these reports the ecb may have to take losses on greek bond holdings, do you agree and is this a necessary step as we turn the lens toward some of big other countries? >> i think it's absolutely necessary. exempting the ecb from the first set of haircuts sent a very negative signal to the private sector about further investment in any of the sovereigns who are experiencing difficulty. basically what

russian capital you're watching r t was marina joshie the eurozone is ready to pour thirty billion euros into spain's beleaguered banks by the end of the month the e.u.'s finance ministers are also expected to grant madrid one more year to cut its budget deficit meanwhile the leaders of britain and france are set for talks at downing street to hammer out a joint strategy to battle the crisis especially worrying is a well of cash running dry a german court is set to roll whether the euro zone's new bailout fund is violating the country's constitution the on equal rules inside a currency union may prove its downfall thirty six out of work and our reports. not taking from others and not giving your own that's what made to vary in their suits is company grow from a small soap shop a century ago into a multi-million euro business nowadays to him iranian company is of course different from running a country or union of countries but all require fiscal discipline and i think it's before we do anything this should be uniformly through school and economic policy it is not acceptable that spain su

euro is a waste is you there is it is for a. max in fact is a global bank heist going on speculators want low rates to fund their respective bets and squeeze out the entrepreneurs squeeze out the sabers squeeze out wages keep rates really low the libre scandal is about keeping rates low by manipulating rates quantitative easing is about keeping rates low by engaging in radical central bank policies like operation twist the lowering rates is about central bank collusion with other banks to keep rates near zero to fund speculation to squeeze out population of workers and savers. once the guys are reported throughout the day here on our t.v. as a british banking scandal deepens the eurozone is handing out cash to prop up its banks . coming up in just a few minutes we are reporting the germans are quickly losing the will to play paymaster of the whole region. and one of the most vocal critics of the syrian regime saudi arabia opens fire on anti-government protesters all the details in a few minutes. there hasn't been anything yet on

euro is a waste are you as dollars and it's. a. yeah this is the kaiser report where we don't the right there show just right and some of these guys just you know commit fraud on an hourly basis we just sit back and tell y'all about it print fund stacy ever max in fact is a global bank heist going on and you can see that in the tweets here's the first one from reuters business bank of england injects seventy eight billion dollars of monetary stimulus and here's a tweet from the a.p. a few moments later european central bank cuts mean interest rate by a quarter point to a record low of point seven five percent that's right low rates. low rate. we've been talking about this for years because speculators want low rates to fund their suspect of the bets and squeeze out the entrepreneurs squeeze out the savers squeeze out wages keep rates really low the library scandal is about keeping rates low by manipulating rates quantitative easing is about keeping rates low by engaging in radical central bank policies like operation twist e.c.b. l