the euro is irreversible. it is pointless to bet against the euro.s pointless paubecause the e will stay. i'll repeat what i said in london the first time, we will do whatever it takes, within our mandate. the euro is irreversible. we are ready with our omt. as i said before, we stand ready to act with omt. we decided to lower the interest rate by 25 business points. we will address and cope with the consequences if we decide to act. we discussed several forms of forward guidance. the key ecb interest rates to remain at present or lower levels for an extended period of time. it is the first time the council says so. >> the euro crisis will come to a head this autumn. in an interview in a german paper, he called the policies fatal saying they brought time for politicians which is then wasted. he also said that following the german elections, france will pressure the ecb and germany to get support from the omt program. still with us, hawking meeting. what do you think of the comments? >> i hope he's completely wrong. the dire predictions that all will

it wants germany to pull out of the euro. should the race become tight, the afd could siphon off crucial votes from merkel's parties. >> in a moment, the investigation into the deadly plane crash in san francisco continues as officials reveal that one of the victims may have survived the crash and then was run over by -- run over and killed by an emergency vehicle. >> first, some of the other stories making headlines. in spain, nine people were killed when a bus. off a highway and plowed into a metal barrier. the crash occurred about 100 kilometers northwest of the capital of madrid. emergency services rescued several passengers trapped in the wreckage. >> a japanese government spokesman says the country is testing two nuclear reactors for safety with a view to restarting them. 48 of the country pop 50 nuclear -- country's 50 nuclear reactors were shut down after the tsunami. >> police say 40 people are missing and feared dead after a runaway train carrying crude oil derailed and exploded in the town of lac-megantic. police a

it wants germany to pull out of the euro. should the race become tight, the afd could siphon off crucial votes from merkel's parties. >> in a moment, the investigation into the deadly plane crash in san francisco continues as officials reveal that one of the victims may have survived the crash and then was run over by -- run over and killed by an emergency vehicle. >> first, some of the other stories making headlines. in spain, nine people were killed when a bus. off a highway and plowed into a metal barrier. the crash occurred about 100 kilometers northwest of the capital of madrid. emergency services rescued several passengers trapped in the wreckage. >> a japanese government spokesman says the country is testing two nuclear reactors for safety with a view to restarting them. 48 of the country pop 50 nuclear -- country's 50 nuclear reactors were shut down after the tsunami. >> police say 40 people are missing and feared dead after a runaway train carrying crude oil derailed and exploded in the town of lac-megantic. police a

the euro in 2014. we begin this broadcast in egypt where the country is one step closer to forming a transitional government. a spokesman for the interim president says he has named a prominent economist as interim prime minister with the opposition leader, mohamed elbaradei, as his deputy. >> earlier this tuesday, the muslim brotherhood rejected the election timetable put forward by the interim leadership. it includes a constitutional referendum followed by elections in a presidential ballot within six months, but divisions remain on the future of the country. >> after long wrangling, egypt's new prime minister has been named. hazem el beblawi is a former finance minister and a social democrat. he is a compromise candidate, acceptable to both the liberal and ultraconservative parties who supported the removal of president mohamed morsi. opponents of the ousted president are still massing on tahrir square, pinning their hopes on elections promised by the new interim president. "by the end of this year,

the euro in 2014. we begin this broadcast in egypt where the country is one step closer to forming a transitional government. a spokesman for the interim president says he has named a prominent economist as interim prime minister with the opposition leader, mohamed elbaradei, as his deputy. >> earlier this tuesday, the muslim brotherhood rejected the election timetable put forward by the interim leadership. it includes a constitutional referendum followed by elections in a presidential ballot within six months, but divisions remain on the future of the country. >> after long wrangling, egypt's new prime minister has been named. hazem el beblawi is a former finance minister and a social democrat. he is a compromise candidate, acceptable to both the liberal and ultraconservative parties who supported the removal of president mohamed morsi. opponents of the ousted president are still massing on tahrir square, pinning their hopes on elections promised by the new interim president. "by the end of this year,

ultimately what's -- what's at stake here is an 8.1 billion euro sum of money. 4.8 billion euros to come from the eu. 1.8 billion to come from the imf. ultimately they're expected to get this money, though it will come through in two separate

this is 2 billion euros to 3 billion euros in june, 2018, bonds that come up for auction. also, longer term paper, 3.75 billion, this is ten-year paper on office. the market looking out for that. this is how it placed on the rest of the markets. bonds, yield of 1.66%. portugal yields tracking close to the 6.5% mark, still treasuries a fraction of 2.6 own & own and on gilts, 2.31. investor watching debt markets and on we can its and forex. let's just dive in and see what some of the trades look like. we have a little dollar strength now on some of the baskets. euro dollar the exception, still seeing strength on the euro, 132.73 currently on the charts. the dollar/yen rates, 98, inching back to the 100 level. australian dollar, very much on the back foot today. we have seen steep fall, 1.5% here. this was after the central bank governor said there was more room for the currency to fall and also the interest rate cuts. and this comes up to a key central bank meeting next week. some of the market anticipating this as a sign that interest rates will mark lower. sterling/dollar

some gains on the euro stoxx 50, the -- though. across the atlantic, trading still underway in new york. the dow jones, currently .4% higher, and the euro currently above $1.33. >> there are more signs the euro zone economy could be on the road to recovery. figures released today show the first drop in unemployment and over two years, but the fall was very slight, and one eu official said the read of over 12% remains horrendous. >> figures were not helped by the block's biggest economy, germany, where the unemployment rate crept up slightly, but a 6.8%, it does remain well below the euro zone average. and growth figures are in from the u.s., where the economy expanded at an annual rate of 1.7% in the second quarter, up from 1.1% in previous months. the numbers beat analyst expectations. >> consumer spending accounted for two thirds of the economy. although growth there has been slowing down. growth was also on the rise. compared to 180,000 in the six months prior. one of the towering figures of post-german war industry has died. he

doing so could save them more than 5 billion euros.

with 51.2 million euros, can you is the largest investor in wanda.swiss companies invested for the 36 million euros in the country, slightly more than south africa. germany trails in ninth place with 14 million euros. rwanda wants to become africa's biggest i.t. location by the year 2020, but one thing is still missing -- a reliable power supply. in the past, rwanda had to import most of its energy from neighboring countries. only 11% of households are connected to the public power grid, which fails an average of 14 times per month. companies have to maintain diesel power generators in order to remain at least partially operating when the power goes out. this drives up costs for firms operating in wanda, and that is why the country is investing in large-scale infrastructure like the expansion of its power grid and the construction of geothermal power plants. these are the areas where german companies have a lot to offer. >> well, what do europeans do when the summer turns into a real swelter? besides complain about it. >> well, parisians just open up

with 51.2 million euros, can you is the largest investor in wanda.swiss companies invested for the 36 million euros in the country, slightly more than south africa. germany trails in ninth place with 14 million euros. rwanda wants to become africa's biggest i.t. location by the year 2020, but one thing is still missing -- a reliable power supply. in the past, rwanda had to import most of its energy from neighboring countries. only 11% of households are connected to the public power grid, which fails an average of 14 times per month. companies have to maintain diesel power generators in order to remain at least partially operating when the power goes out. this drives up costs for firms operating in wanda, and that is why the country is investing in large-scale infrastructure like the expansion of its power grid and the construction of geothermal power plants. these are the areas where german companies have a lot to offer. >> well, what do europeans do when the summer turns into a real swelter? besides complain about it. >> well, parisians just open up

institutions and separate euro capacity. isn't it going to be very difficult to strattle this line? what do you think? >> perhaps i can comment a the 60 billion. it's important to recognize 60 billion is a lot of money in some circumstances and rather he has money in other circumstances. but in terms of the total amount available and the agreement is quite precise and it sets out first there is an appropriate level of bailing before a bank is recapitalized. that makes a financial and after that there is a burden sharing discussion to determine [inaudible] . and of course because the has a state can also point in the discussion. this is certainly the understanding that we have formed through our substitutions with other euro group members, this means that the euro group if needed bring substantially greater resources to bear than just the 60 billion available. i should also say something about the way officials interact with the discussions. i said earlier we are intimately involved in the discussions just as we were on the r

and now let's have a look at euro/yen, now at 129.23 to 28, with the euro lower against the yen. investors sold a common currency overnight as major credit rating agencies downgraded italy's credit rating. they also sold the euro following reports that a european central bank policy maker expressed ideas that the bank intends to keep its interest rate low, beyond 12 months. the ecb later clarified that the comments were not meant to give any guidance to the duration of its policy, and the euro managed to recoup some of its losses. so the big focus here today and tomorrow will be the boj meeting, and we'll continue to keep track of any developments there. back to you, ai. >> all right, eileen, thanks for that update. eileen lee from the tokyo stock exchange. >>> well, will soon see another country joining the eurozone. european union finance ministers officially approved the baltic state of latvia to become the 18th nation to adopt the euro, starting next january. the ministers gave the green light to latvia at a meeting in brussels. the latvian government said the conversion rate

that'll cost about 600 euros. and because the state health insurance will not pay for it and i do not have the money, i was forced to take out a loan to pay the dentist. >> life in the portuguese town is not easy. she is unemployed. she has to count every penny. >> shopping is an adventure. i often have to catch it on my mobile to see if i have enough money. her husband is also having difficulty making ends meet. they're looking for gigs on the internet. after taxes, he only earns about 600 euros a month. >> i teach at the local conservatory. in the good times i have 20 to 30 -- a day. because of the crisis, i only have two to be oh now. >> the financial crisis has forced portugal to tighten its belt and the family has cut spending. but anna sophia says she cannot cut back anymore. they are tone because the couple cannot afford childcare. >> that is all i get. i wonder what that is supposed to cover. >> the family has moved into a smaller, 50 square meter apartment. the worst thing for her is not being able to fin

that'll cost about 600 euros. and because the state health insurance will not pay for it and i do not have the money, i was forced to take out a loan to pay the dentist. >> life in the portuguese town is not easy. she is unemployed. she has to count every penny. >> shopping is an adventure. i often have to catch it on my mobile to see if i have enough money. her husband is also having difficulty making ends meet. they're looking for gigs on the internet. after taxes, he only earns about 600 euros a month. >> i teach at the local conservatory. in the good times i have 20 to 30 -- a day. because of the crisis, i only have two to be oh now. >> the financial crisis has forced portugal to tighten its belt and the family has cut spending. but anna sophia says she cannot cut back anymore. they are tone because the couple cannot afford childcare. >> that is all i get. i wonder what that is supposed to cover. >> the family has moved into a smaller, 50 square meter apartment. the worst thing for her is not being able to fin

billions of euros. a new report puts the figure on all promises being made ahead of september's elections. the report was compiled by the pro-business cologne institute for economic research and they are warning that politicians are writing checks for election gifts that the country cannot afford. >> a healthy economy is good for the well-being of the nation. that is the message of german business. that is why they are criticizing some campaign pledges as "poison for growth." they put up to 900,000 dogs at risk here yet >> from the point of view of the work or scum of politicians should consider what they consider important, and other words industry. exit raises concerns about a possible social democratic coalition with the greens and their plans to expand social welfare and raise taxes. angela merkel's conservative get off with a milder verdict, but there is cause for complaint here especially raising state pensions for mothers. only the free-market coalition partners, the free democrats, have the righ

euro stoxx 50 down ever so slightly to 2722. in new york, the dow jones industrial average -- trading still going on there. 15,594, about point three percent up, and the euro is also up against the u.s. dollar, trading at $1.3227. spain's economy shrank again in the second quarter, but the early signs of recovery could soon be making an appearance. gdp fell by .1% between april and june. >> that was less than in the previous three months, due to strong exports. the spanish central bank says it expects a return to growth by the end of this year. spain has been in recession since 2011. >> seven people have been injured after an airplane's landing gear collapsed while landing in new york. >> it came to a halt in the grass at laguardia airport and six people were hurt and taken to hospital with minor injuries. the course of the landing gear -- because of the landing gear failure -- the cause of the landing gear failure is not yet known. >> spanish soccer giants barcelona have confirmed that geraldo martino has signed a p>> he was no

similar picture on the euro stoxx 50. in new york, trading is still under way. the dow jones pretty much flat. the euro trading at $1.3141 at this hour. >> the eu has drawn up draft legislation which limits charges on consumers using credit and debit cards. the bill is due out next week, and financial institutions are lobbying against it. the likes of american express, visa, and mastercard could ace huge losses. >> the measure falls in line with demands from the commission's antitrust regulators who are trying to rein in the sector. >> if a log gets put through, european consumers and retailers could see lower costs as early as next year. here is more. >> whether it is in restaurants, supermarkets, or booking a flight, paying by credit card is easy and convenient. but that convenience comes at a cost -- at least for business owners. credit card issuers can charge hefty fees that are often hard to spot. now, the eu is planning to impose limits. currently, businesses pay between .7% and five percent of the purchase price. the fees are set by card issuers. american

billions of euros. a new report puts the figure on all promises being made ahead of september's elections. the report was compiled by the pro-business cologne institute for economic research and they are warning that politicians are writing checks for election gifts that the country cannot afford. >> a healthy economy is good for the well-being of the nation. that is the message of german business. that is why they are criticizing some campaign pledges as "poison for growth." they put up to 900,000 dogs at risk here yet >> from the point of view of the work or scum of politicians should consider what they consider important, and other words industry. exit raises concerns about a possible social democratic coalition with the greens and their plans to expand social welfare and raise taxes. angela merkel's conservative get off with a milder verdict, but there is cause for complaint here especially raising state pensions for mothers. only the free-market coalition partners, the free democrats, have the righ

euro stoxx 50 down ever so slightly to 2722. in new york, the dow jones industrial average -- trading still going on there. 15,594, about point three percent up, and the euro is also up against the u.s. dollar, trading at $1.3227. spain's economy shrank again in the second quarter, but the early signs of recovery could soon be making an appearance. gdp fell by .1% between april and june. >> that was less than in the previous three months, due to strong exports. the spanish central bank says it expects a return to growth by the end of this year. spain has been in recession since 2011. >> seven people have been injured after an airplane's landing gear collapsed while landing in new york. >> it came to a halt in the grass at laguardia airport and six people were hurt and taken to hospital with minor injuries. the course of the landing gear -- because of the landing gear failure -- the cause of the landing gear failure is not yet known. >> spanish soccer giants barcelona have confirmed that geraldo martino has signed a p>> he was no

that asset of the company are at 4.25 billion euros.ly there is a little bit of pressure as well here because they're really desperately need a cheaper refinancing, ross. >> yeah. and, let's talk about -- we spoke to the ceo yesterday, the unit spun off, had a bumpy first day of trading. things are better today. what's going on? >> they have been quiet, some analysts saying that it is a good buy and they have increased the target price, credit suisse is saying 44 euros and ubs came out with a note, they didn't have a look at yet, which was at least optimistic. and positive about the share price development. and we're seeing shares really jumping on that. yesterday still every commentator was very negative on the outlook for the company because, of course, through the sheer structuring of the transaction that if you had ten semen shares, you got one share in your portfolio that would have meant as well there was no clear decision to buy into the issue. so the likelihood that you're selling it again is quite high. that was the overall the

the sale is worth more than 900 million euros. one of the country's maine journalist unions said the plan did not bode well. >> the media group has already shown that it is not at all serious about quality journalism or about jobs for journalists. it fired one paper's entire editorial team of 120 people from one day to the next. >> the sale is intended to grow its digital media business. last year, over a third of the firm's sales came from digital media, a 22% increase on 2011. the online division now sells more than the mystic newspaper division, and profits continue to tumble for newspapers and magazines. the latest attempt to boost digital profits is at germany's top tabloid, by introducing a paint wall for exclusive reports. consumers will soon have to pay for content on their smart phones and tablets. profit margins are slim in the online media world. if they get their way, that is about to change. >> in europe, we are enjoying a sunshine-filled summer. air conditioners are working overtime for many people, that means leavin

and the euro, nowadays, the bis is important for two things. every two months just as in the case on the decades on the central bank, the key central bankers of the world meet to discuss monetary policy. it's crucial during the financial crisis. i interviewed king who gave me a good interview for my book. he said that's the place where we meet and discussion policy options and what can be done and not tone. and the bis is hosting a game. -- which is absolutely crucial for commercial bank not central banks. that's based at the bis. several other committees are based a the the bis. more obscure committees like the markets committee, and the financial stability board as well which is going to be important. it's the new people say it's the fourth pillar of the global football system after -- financial system and the imf and the bis because it's coordinated central moin tar bank and regulators. they want good things there. they, you know, they don't want bad things for us. they want the stable global economy. they want central banks that don't go bu

euro stoxx 50 also looking solid. the euro stronger against the greenback at a value of $ one point -- $one point 0131. >> the chemicals industry is one of the biggest earners, but it is releasing disappointing numbers for the first half of 2013. >> nearly 500 thousand people work in germany's chemicals industry, and for the time being, that figure will not be rising. industry insiders acknowledge that the sector is stagnating with barely any growth at all so far this year. employers say it is down to weak demand on the domestic market. >> the german economy is just quite weak. in that area alone, we are down by one percent -- 1% if you want to see where the positive indicators are coming from, you have to look at exports. that's where the industry is doing pretty well. >> industry figures showed chemical firms exporting to europe did especially well. chemical firms are optimistic that signals the beginnings of a recovery. that's because the chemicals industry is regarded as an early indicator of economic health with

similar picture on the euro stoxx 50. in new york, trading is still under way. the dow jones pretty much flat. the euro trading at $1.3141 at this hour. >> the eu has drawn up draft legislation which limits charges on consumers using credit and debit cards. the bill is due out next week, and financial institutions are lobbying against it. the likes of american express, visa, and mastercard could ace huge losses. >> the measure falls in line with demands from the commission's antitrust regulators who are trying to rein in the sector. >> if a log gets put through, european consumers and retailers could see lower costs as early as next year. here is more. >> whether it is in restaurants, supermarkets, or booking a flight, paying by credit card is easy and convenient. but that convenience comes at a cost -- at least for business owners. credit card issuers can charge hefty fees that are often hard to spot. now, the eu is planning to impose limits. currently, businesses pay between .7% and five percent of the purchase price. the fees are set by card issuers. american

the salvage operation is expected to cost hundreds of millions of euros. schettino faces up to 20 years in jail. has been-- his lawyers have asked for 3 years, 5 months as part of a plea deal. >> at least 22 people died when eating food with pesticide. the government has been criticized for its free lunch program. these are images of the cosmic drama at the heart of the milky way. astronomists spied a gas cloud close to being devoured by a supernova. it is a process known as spaghettification. russian court sentenced a tominent opposition activist five years in jail in proceedings widely described as a show trial. 400as accused of embezzling thousand euros as a consultant for a state-run timber company-- 400,000 euros as a consultant for a state-run timber company. >> the state finds him guilty under part three of article 33 of russia's criminal code. >> he had made powerful enemies. he exposed corruption in high circles and was a leading figure behind antigovernment rallies in 2011. just hours after he was led out of the courtroom in handcuffs, there were

the sale is worth more than 900 million euros. one of the country's maine journalist unions said the plan did not bode well. >> the media group has already shown that it is not at all serious about quality journalism or about jobs for journalists. it fired one paper's entire editorial team of 120 people from one day to the next. >> the sale is intended to grow its digital media business. last year, over a third of the firm's sales came from digital media, a 22% increase on 2011. the online division now sells more than the mystic newspaper division, and profits continue to tumble for newspapers and magazines. the latest attempt to boost digital profits is at germany's top tabloid, by introducing a paint wall for exclusive reports. consumers will soon have to pay for content on their smart phones and tablets. profit margins are slim in the online media world. if they get their way, that is about to change. >> in europe, we are enjoying a sunshine-filled summer. air conditioners are working overtime for many people, that means leavin

euro stoxx 50 also looking solid. the euro stronger against the greenback at a value of $ one point -- $one point 0131. >> the chemicals industry is one of the biggest earners, but it is releasing disappointing numbers for the first half of 2013. >> nearly 500 thousand people work in germany's chemicals industry, and for the time being, that figure will not be rising. industry insiders acknowledge that the sector is stagnating with barely any growth at all so far this year. employers say it is down to weak demand on the domestic market. >> the german economy is just quite weak. in that area alone, we are down by one percent -- 1% if you want to see where the positive indicators are coming from, you have to look at exports. that's where the industry is doing pretty well. >> industry figures showed chemical firms exporting to europe did especially well. chemical firms are optimistic that signals the beginnings of a recovery. that's because the chemicals industry is regarded as an early indicator of economic health with

euro stoxx 50 slightly up, 2741 it's close. in new york, the dow jones industrial average trading at 0.15% down. the euro down a bit against the dollar, $1.3275. >> incorporate electronic news, samsung has posted another record profit in the second quarter thanks to robust shipments of its flagship galaxy smartphone range. the south korean firm warns that delayed economic recovery in europe and fierce competition and the phones market could slow growth. margins are shrinking. handsets are becoming cheaper, and overall demand for high-end smartphones is set to flag. still to come here on the "journal," why no one in moscow wants to get on a bike and what the city is trying to do to change that. >> first, we are going to take a look at some other stories making news around the world. a court in russia has denied parole to a member of the punk band pussy riot. she was told she must serve her full two-year sentence handed down over a church protest against president putin. the 23-year-old said she would not repent and would continu

euro stoxx 50 slightly up, 2741 it's close. in new york, the dow jones industrial average trading at 0.15% down. the euro down a bit against the dollar, $1.3275. >> incorporate electronic news, samsung has posted another record profit in the second quarter thanks to robust shipments of its flagship galaxy smartphone range. the south korean firm warns that delayed economic recovery in europe and fierce competition and the phones market could slow growth. margins are shrinking. handsets are becoming cheaper, and overall demand for high-end smartphones is set to flag. still to come here on the "journal," why no one in moscow wants to get on a bike and what the city is trying to do to change that. >> first, we are going to take a look at some other stories making news around the world. a court in russia has denied parole to a member of the punk band pussy riot. she was told she must serve her full two-year sentence handed down over a church protest against president putin. the 23-year-old said she would not repent and would continu

but there are those that say that leaving the euro zone will be detrimental to the economy no matter how you do it obviously i mean there were major upside potentially because the u.k. can then get rid of all this very burdensome e.u. regulation on jobs and climate change and so on all the red tape is suffocating business but obviously this is where we retain very strong free trade links with the rest of europe that's absolutely essential they have great free trade links with europe and the rest of the world will be the key to success in the future dr welling's thank you. very much for telling us about the competition now the prize is going to be judged by a panel that includes former chancellor nigel lawson who recently claimed that the british economy would be better off if britain were outside the european union. london and while britain and the rest of the e.u. feel the grip of austerity tightening some well connected individuals could be making more money than ever r.t. is next kaiser believes it's a sign of a looming financial apartheid of course you can watch the full show lat

around 5000 fans filled up to cheer their soccer euros. the team spent the night celebrating their victory in sweden, but no one showed signs of tiredness in front of their followers. coach sylvia has complement to their players on the win. >> beginning with the finals, our team really pulled together. we grew closer and play with a lot of courage and passion. we had a great team spirit and held each other. >> in the hard-fought final, it was the substitute who had just been brought on who scored the match winner. the germans worked hard to defend their lead. the team's experienced player warded off two penalty kicks. >> somehow, i think we had a higher power on our side against norway because i do not think there has ever been a vital with a winner block to penalties. we are overjoyed. >> with an average age of just over 23 years, this young team could have a lot more to celebrate in the future. >> that is all we have time for. >> stay with us here. we will have some more news for you in about 33 minutes time. see you later. lex would ace

the euro. and debased. the politicians wanted based in russell's or strasbourg, but it was based in basel in the dis which served as a secretary. so you can see, again and again the bankers making itself absolutely the center point and reid evolving and reinventing itself. each in a clever and nimble institution. in one of the key people was alexandria. known as the father of the euro. his day job, general manager of the dis. and after the committee passed its -- it was agreed in the plan was going forward this set of something called the european monetary institute which was based, of course, at the dis. and then a stay there until the end of 1994. became the european central-bank which is another international bank protected by international treaty which is also not very transparent or influential. so you can see through the decades, german reparations finished in 1932. it reinvents itself. the second world war. most people but it should have been closed down. actually, you can't close down. you need is f

around 5000 fans filled up to cheer their soccer euros. the team spent the night celebrating their victory in sweden, but no one showed signs of tiredness in front of their followers. coach sylvia has complement to their players on the win. >> beginning with the finals, our team really pulled together. we grew closer and play with a lot of courage and passion. we had a great team spirit and held each other. >> in the hard-fought final, it was the substitute who had just been brought on who scored the match winner. the germans worked hard to defend their lead. the team's experienced player warded off two penalty kicks. >> somehow, i think we had a higher power on our side against norway because i do not think there has ever been a vital with a winner block to penalties. we are overjoyed. >> with an average age of just over 23 years, this young team could have a lot more to celebrate in the future. >> that is all we have time for. >> stay with us here. we will have some more news for you in about 33 minutes time. see you later. (♪) >> this p

struggles to curate feeling economy with the bailout cash we try to find out whether the billions of euros have been of any help. thanks so much for tuning in this hour i'm lucy casanova of course you're watching our team well on to our top story now nearly two years after moammar gadhafi was overthrown and killed in libya his son so you follow islam is yet to stand trial for alleged war crimes committed during the twenty eleven uprising now he is set for a hearing in libya in august but international criminal court judges fear that he won't receive a fair trial there libya is meanwhile defying an i.c.c. ruling by refusing to hand him over to the hague and sustaining on a trial at home well let's examine the man and his story so you follow islam was educated in london he was seen as a crucial figure in building relations between libya and the west but an early twentieth revolt the uprising kicks off eventually when he made. reports now amid allegations that he and his family committed crimes against humanity the i.c.c. issued arrest warrants just a few months later moammar gadhafi was kill

but there are those that say that leaving the euro zone will be detrimental to the economy no matter how you do it obviously i mean there were major upside potentially because the u.k. can then get rid of all this very burdensome e.u. regulation on jobs and climate change and so on all the red tape is suffocating business but obviously the key to this is whether we retain very strong free trade links with the rest of europe that's absolutely essential that we have great free trade links with europe and the rest of the world will be the key to success in the future dr welling's thank you very. as for telling us about the competition now the prize is going to be judged by a panel that includes four much. who recently claimed that the british economy would be better off if britain were outside the european union. london well prime minister cameron's motives for proposing a referendum closely tied to political success have certainly drawn questions from the onset on our website you can log on and tell us what you think had led the tories to call for the votes let's check out how the numb

will come from the euro zone and european central banks the i.m.f. is also expected to stump up a further one point eight billion to get the loans athens will have to fire four thousand civil servants by the end of the year while twenty five thousand more must be redeployed greece has been relying on brisk you funds for over three years now but as financial expert patrick young explains it's done little to cure the country's financial woes. well unfortunately i've always argued that greece was never going to survive as long as it was in bailout mode because the difficulty is that you know through involved at alcoholics just tends to make them more alcoholic and it doesn't affect them and improve their overall condition really what greece has always needed to do was to leave the euro and declare bankruptcy it's the only way that it can feasibly restructure what's going on instead what we have is this absolutely mainly arkell situation where in order to manage to stay in the euro we have a series of political forces in western europe who are desperate

the euro against the dollar, 130 1.83, up slightly. >> the news everyone is waiting for. the duchess of cambridge has now been in the hospital over 12 hours. they say her labor is progressing normally. >> the wife second in line was admitted to the hospital. outside the press and royal fans are anticipating the baby. >> an entire nation and much of the world waiting not so patiently for the arrival of the air -- heir apparent. thousands are waiting in hopes of gettingition. on re as to whether to be a boy or a girl. bookmakers are having a field day.p>> we are taking 30,000 pos this morning alone. that is incredible. must the guys are betting on the name. alexander is the current favorite. >> over the past nine months, prince william and his wife has diebold's little about the pregnancy. they have a busy schedule but the due date was a secret. >> williams father has also remained tightlipped about his grandchild-to-be. 31 years ago, charles first wife gave birth to william at st. mary's. now, it is william's turn to hand out the cigars. the royal stork is about to deliver

though she only makes 700 euros a month, sometimes she treats herself to a taxi ride home.e university student is relaxed about the end of the summer season. >> if i can find work here, i will stay. if not, i will return and get my masters degree in occupational psychology. i'm not worried about ending up on the street. even if i do not see good opportunities in my field of work. i will find something. >> in the meantime, neil has started his shift in the piccadilly bar. the 28-year-old nepali came despite the economic crisis, and he wants to stay. for him, working at the beach is simply too lucrative to leave. >> the division of society into those with privileges, the inability, and ordinary citizens goes back more than 2000 years in europe. the system was applied by the ancient greeks and romans. it was really only after the first world war that many european countries got rid of the privileges for the nobility. in austria, for example, titles have since been banned, and it is still strictly forbidden to use them today, but in other countries in europe, the aristocrats an

though she only makes 700 euros a month, sometimes she treats herself to a taxi ride home.e university student is relaxed about the end of the summer season. >> if i can find work here, i will stay. if not, i will return and get my masters degree in occupational psychology. i'm not worried about ending up on the street. even if i do not see good opportunities in my field of work. i will find something. >> in the meantime, neil has started his shift in the piccadilly bar. the 28-year-old nepali came despite the economic crisis, and he wants to stay. for him, working at the beach is simply too lucrative to leave. >> the division of society into those with privileges, the inability, and ordinary citizens goes back more than 2000 years in europe. the system was applied by the ancient greeks and romans. it was really only after the first world war that many european countries got rid of the privileges for the nobility. in austria, for example, titles have since been banned, and it is still strictly forbidden to use them today, but in other countries in europe, the aristocrats an

that makes one point two million euro. in colombia gold is highly coveted by the criminal organizations. so in order to avoid an ambush the time and day of the transfer or decided at the last minute made my escape the this is the most critical moment and on this side and the gold leaves the factory it up got to be transported to the city of midday in. the in goods or carried away at a run. the soldiers mark alpha course. the operation is completed in four minutes. the precious cargo takes off towards midday the regional capital from where the gold will be exported. this a go via gold mines are the oldest ones in south america they were own for a long time by an english company frontino gold mines but in two thousand and ten and drawn colombia gold bought the entire concession. thanks to different you know mines the canada based multinational has become colombia's leading gold producer in two thousand and eleven. two and a half tons of yellow metal came out of these furnaces the checks are very strict everyone has body sear

then the euro and nowadays the bis is important for two things. every two months, just as has been the case through the decades, all the central bankers, the key central bankers of the world meet there to discuss monetary policy, absolutely crucial during the financial crisis. i interviewed merlin king who gave me a very good interview for my book, and he says that's the place where we meet, and we discuss policy options, and we talk about what can be done and what went be done. and the bis is hosting, again, it hoses the basel committee on banking supervision which is absolutely crucial for commercial banks, not for central banks while they have the 8% rule that you have to have 8% of assets compare today what you're lending. that's based at the bis. other committees are based an the bis, more obscure committees like the markets committee and the financial stability board as well which is going to be very, very important. it's the new finish people say it's the fourth pillar of the global financial system really after the imf and the commercial b

this year from 3 billion euro last year. so that's good news. for the next year, the company is expecting very significant cash reduction and also there was a positive announcement yesterday evening, the european commission approved the support from the french states. it gave its dreamline for the french state to provide a financial guarantee for the financial need of peugeot. so all and all, better target for the negative cash flow and financial support from the state, that's the reason why the stock is where it is today. >> we'll be talking more about peugeot during the course of the program. let's talk about diageo, stock down a percent, but new strength in u.s. allowing the spread group to allow 5% in net sales for the fiscal full yoear and increase dividend. double digit growth in the emerging market may be hard to maintain. >> the emerging markets are going to be a rocky road. just in the results we have declared, brazil has been tough, nigeria is tough, china and india slowed down. however, we have still been able to