so we'll have analysis to come on that one and more tensions with britain's chancellor george osborne making it clear that scotland will not be able to break away from the u.k. as well as keep the pound me while the tensions on the streets of ukraine continue as the economic situation in ukraine. in the situation is in some way connected with a desire to be dependent part of an economic unity on the political tensions a result from both. first of all it starts with britain right here so as scotland gets set to decide if they want to go solo and break away from the u.k. george osborne state city yes vote in the referendum which also made a yes to walking away from the pound this is a direct blow to scotland's first minister alex salmond independence campaign also will set a currency union would cause great damage to both the u.k. and the scottish economy is costing jobs money which could result in u.k. taxpayers promising to bed out scottish banks and hedge the sterlings value in the international markets a least that is what oars born is saying anyway so let's talk this through we've

what chancellor george osborne is saying is if scotland walks away from the u.k. it also walks away from the pound he's very clear about that he said that there are four things that are necessary to have a currency really and so for scotland to shed the pounds and then proceeded to demolish the possibility of those conditions being met the first thing he talked about was a banking union scotland of course has a huge financial sector it's worth about twelve times its g.d.p. alone there's no way that scotland would be able to bail out its own balance you've only got to look at the huge world bank of scotland so that the u.k. has only just managed to extricate itself from an obligation to bail out european banks so what on earth would put it back into an obligation to bail out scottish banks fiscal cooperation then osborne talked about a shared agreement on taxation and spending would necessitate the rest of the u.k. and scotland seedings over and t. in terms of how much it taxed its citizens of what it spent that money on why should the u.k. do that he says why shou

to say that you case are supporting says banking weakness at heart of productivity problem so george osborne you know did not blame workers in this he said there's been a decline in productivity but he blames the banking sector he doesn't blame his own housing scheme and he says chancellor george osborne said on tuesday that britain's low productivity growth was disappointing and put most of the blame on the slowness of recovery in bank lending after the two thousand and eight financial crisis and he says they need to expand lending to small medium sized enterprises but the incentives and the ghost are not there for that right so george osborne made a rare factual statement based on reality but his salute. it is and complete and well the question goes to tell you the problem with that is that the crying because if you have a small medium sized enterprises you have to hire people in the tell you labor is bad people working is bad you have to have them speculating instead. a very good stance we must go thank you good bye king joffrey. all right states of the cycle are all out war. it was a. ve

as london has announced a gas to solvency without so mats a clean and notes a shared currency george osborne the chancellor of the exchequer says edinburgh would have to leave the pound if it leaves the u.k. our c.s.r. smith is here with us with all the latest details hi there laura so how did london justify this what has it said. well basically what charles the georgia has been is saying is if scotland walks away from the u.k. it also walks away from the pound he's very clear about that he said that there are four things that are necessary to have a currency union so for scotland to share the pound and then proceeded to demolish the possibility of those conditions being met let's just go through those four things so we can look at what they are the first thing he talked about was a banking union scotland of course has a huge financial sector it's worth about twelve times its g.d.p. alone there's no way that scotland would be able to bail out its own balance you've only got to look at the huge world bank of scotland so that the u.k. has only just managed to extricate itself from an obligatio

resorting to destructive campaigning and a frightening scottish voters last week the uk tells the george osborne was that of scotland votes in favor of independence it would have to surrender the pound. in response onyx out and highlighted the massive transaction costs uk businessman face. if the stalls implemented a new currency. and the president of the european commission added fuel to the pa by saying scotland stands veritable johnson king eu membership. what jonathan chafee is because i was going to radical independence campaign believes the country will be better off without the uk. wisconsin. will we are seeing the name enter this code and see discussion i think is a government baseman so she's deeply pundits and deeply warning of a dissertation committee to school. we've seen since the tone of the new york opinion poll was increasingly in favor of a guestbook an foi coping since the strikes that we've seen all of the waistlines are these dying off and the soft occassions and i think this place and play offensive behavior when it comes the question becomes did cost a small view of the tre

now we have george osborne this week said hey get at it that this is how i've been so confused you guys this is the two sides to say the plan because he may run into the hands of the yes campaign. in a desperate unstoppable twelve resents being fleeced by westminster in this way i forgot that may have shifted dramatically towards the end state. stay with us here on our team more to come after short break the i i i. like ttc any sort of calm to a revolution aimed at preserving traditional media even a charcoal gender roles. the islamic religion this is one very helpful from the force towards maintaining traditional murchison and died. just as they become more awful western liberalism. it becomes possible and we have to decide my future civilizations that are beyond exhibition cool. i was . seventeen minutes past the hour now. the writing may be of no fault for germany in greece is a radical group there's published a manifesto pinning all increases economic woes on berlin anti capitalist movement the responsibility for firing shots at the german ambassador's residence in december and thre

chancellor george osborne.e is speaking in an barrow at about the debate on scottish independence. he is talking about the fact that maybe there isn't any legal should sharee u.k. its gdp. we will talk about this more when we come back. ♪ >> welcome back to "the pulse." >> time for today's hotshots. a sad day for vintage car lovers. eight rare corvettes swallowed up by a sinkhole that opened under kentucky's national corvette museum. no one was hurt in this incident but the cards took a fatal battering after plunging about 30 feet into this massive hole. >> we still have no information. two russian thrill seekers find the world's second tallest building while it was still being built. the men chose to climb the 650 meter shanghai tower during the lunar new year. beginning at midnight they spend two hours scaling 120 floors and 15 hours waiting for the weather to record their stunt. >> china's lunar roller -- rover is alive. it suffered a breakdown last month. mission control said it could not be fixed. now the

from china we don't know but what part of the growth from last year and you know mark carney and george osborne have been celebrating the fact that the u.k. economy is growing but i want to remind people that it's a lot of round tripping of our own cash that was stolen from us because this first headline is from august of two thousand and thirteen last year p.p.i. compensation spurs a car to me through spending booze banks have inadvertently provided to boost the economy through the vast compensation payments made to customers who are missile payment protection insurance so last year they gave ten billion pounds to the economy which was promptly spent because people felt it was free money hey you guys still one hundred billion for me and now you're giving me ten billion back i feel rich it's kind of like a casino model well right now today this headline from this week bank customers the missile duf package the calends winning thousands of pounds in compensation so account holders were paying up to three hundred pounds in bogus charges of various things they didn't even know they had on like pay

comes to the question of the cons of course it's not in the part of you of the treasury or of george osborne to decide what counts it's gotten uses i think this is a deeply cynical and offensive political maneuver that's been undertaken by a panicked waste minister is it not westminster that should decide what happens to the british pound and who should actually use it well of course you can use whatever concede that you choose to use so for example in scotland and the current plan being it lying by the scottish government is that we will continue to use the staling no it's then up to the negotiations in the process that takes place as to whether or not that will be in a concert union a famed and conceivable that the government and waste minister will oppose not when it comes to the reality of the situation post yes i and many others involved in the scottish independence movement also favor the transition to scottish poland where we don't have to rely on anything connected with london after all i don't think we need the city of london any more than anyone else because it's brought nothing bu

chancellor george osborne more that if scotland votes in favor of independence it would have to surrender the pound in response and excitement i doubted the massive transaction costs u.k. businesses would face if the scots did indeed implement a new currency the president of the european commission added fuel to the fire by saying scotland stand very little chance of gaining e.u. membership were jonathan shafi he's a co-founder of scotland's radical independence campaign i spoke to him earlier he believes the country will be better off without the u.k. or its currency. what we're seeing now throw this discussion i think is a government waste minister which is deeply panicked and deeply worried about the situation that's emerging in scotland we've seen since the turn of the new year the opinion polls increasingly in favor of a yes vote and therefore i don't think it's a message price that we've seen all of the waste minister parties gang up ness or to fashion and i think display some quite offensive behavior when it comes to the question of the currency of course it's not in the part of yo

so we'll have analysis to come on that one and more tensions with britain's chancellor george osborne making it clear the scotland will not be able to break away from the u.k. as well as keep the pound me while the tensions on the streets of ukraine continue as the economic situation in ukraine. in the situation is in some way connected with our desire to be independent part of an economic unity on the political tensions a result from body so first of all it starts with person right ahead so as scotland gets set to decide if they want to go sorry and break away from the u.k. george osborne state city yes votes in the referendum which also made a yes to walking away from the pound this is a direct bloody to scotland.

week of essentially begging the scots to stay don't go he said we really need you now we have george osborne this week saying hey you know. this is how bad things would be if you do this is sort of two sides the same coin may play into the hands of the yes campaign you know yesterday's in scotland will resent being bullied by westminster in this way so that that may shift things dramatically towards a yes but. stay with us more news coming up after this short break. you know the united states has as many think tanks as the next ten countries combined yes one thousand eight hundred twenty eight to tell three hundred million people how to sing. the. economic down in the final. days. and the rest. will be. seventeen minutes past the hour now the writing may be on the wall for germany and greece is a radical group there is published a manifesto putting all of greece's economic trouble on berlin the anticapitalist movement claimed responsibility for firing shots at the german ambassador's residence in december and threatening more attacks or to marry if an ocean reports from athens. police and se

george osborne is currently speaking in edinburgh. he says the pound is not an asset to be divided up if scotland votes for independence. there's no legal reason why the rest of the uk would need to share the currency with an independent scotland. and in zotland walks away from the uk, it walks away from the british pound. scottish nationalists offering to walk away from the debt would mean punitively higher interest rates for scottish debt issuance. so a major threat from the british chancellor last night. looking to see what the labor you video is on that, as well. now, staying in the uk, lloyds banking group has announced a return to profit. the ceo says he believes the lender is ready to return to private ownership. and because of that, helia, he's paid himself a nice bonus, as well, 1.7 million pound bonus. >> 1.7 million. he was absolutely convinced that he deserved it. he said he came here three years ago to repair the bank and that it has performed exceptionally well. share price up 70% last year. he said in the last 24 months

. >> eu leaders have said they will follow suit, with british finance minister george osborne saying they are ready to help. wherever the money comes from, the interim government must fill the hole in its balance sheet. otherwise, ukraine could soon add bankruptcy to its problems. >> across the russian border, police detained several protesters on monday. they were demonstrating outside the courthouse where a judge sentenced eight defendants convicted of attacking police at an antigovernment demonstration in may, 2012. they were found guilty of writing and attacking police. -- and attacking police. they received sentences ranging from 2 1/2 to 4 years. person have their sentence suspended. the venezuela, where embattled president nicolas maduro has promised talks. tens of thousands of people gathered in the capital. people haved -- ten died in the protests, which the president calls a coup attempt. >> the opposition leader held a huge rally saturday and said that he wants to meet him and start some sort of dialogue with president nicolas maduro. it is not something that happens often

independence will not be able to use british pounds this was stated by the uk finance minister george osborne bbc news reports. thus if the scots good for the separation from great britain and its temper. they will have to dial in the pounds the budget surplus in two thousand thirteen exceeded one point five billion years. this was reported by the athens news agency sith apprentice to include some of us. this is the first such case in ten years from the greek government managed to balance the main financial acumen of the country previously in early december two thousand thirteen. the parliament adopted the budget without provision for deficit one hundred and fifty three deputies set of three hundred voted for the budget and according to the adopted budget the national economy is to grow by zero point six percent in two thousand and two percent of group has predicted after the prolonged recession that started in two thousand and eight according to the government's estimates based on the end of the year itself creases gdp will decrease by four percent according to the west side of the repeated

from china we don't know but what part of the growth from last year and you know mark carney and george osborne have been celebrating the fact that the u.k. economy is growing but i want to remind people that it's a lot of round tripping of our own cash that was stolen from us because this first headline is from august of two thousand and thirteen last year p.p.i. compensation spurs the car to be three spending booze banks have inadvertently provided to boost the economy through the vast compensation payments made to customers who are missile payment protection insurance so last year they gave ten billion pounds to the economy which was promptly spent because people felt it was free money hey you guys still one hundred billion for me and now you're giving me ten.

so we'll have analysis to come on that one and more tensions with britain's chancellor george osborne making it tell it the school will not be able to break away from the u.k. as well as keep the pound me while the tensions on the streets of ukraine continue as the economic situation in ukraine. in the situation is in some way connected with our desire to be independent.

independence will not be able to use british pounds this was stated that the uk finance minister george osborne bbc news reports thus if the scots good for the separation from great britain the september they will have to abandon the pounds the budget surplus in two thousand thirteen exceeded one point five billion years. this was reported by the athens news agency study for a minister but in some markets. this is the first is facing ten years from the greek government managed to balance the need for an introduction of the country previously in early december two thousand thirteen. the parliament adopted the budget without provision for deficit one hundred and fifty three defeat the set of three hundred voted for the budget and according to the adopted budget the national economy is to grow by zero point six percent in two thousand for two per cent of group has predicted after the prolonged recession that started in two thousand and eight according to the government's estimates based on the end of the year itself creases gdp will decrease by four percent according to the west side of the repeat

good news for george osborne.make is that trying to keep this going is going to be a big challenge inasmuch as we have got a strong pound, showing it to you. and we have got weakness in the eurozone. but of those factors could provide problems with the trade story moving forward from here. you don't get much for free these days. if you are in the market for a new vehicle, call up the u.s. army. giving away 13,000 armored trucks left over from iraq and afghanistan. take a look at who is getting their hands on these highly powered military surplus vehicles. nice ride. hans nichols is back. he is here to look at what you need to know about what is going to happen and the rest of the day. the main event will be happening on capitol hill. brady dougan facing the full force. we have a little of what we expect him to say. basically, their argument is going to be that members of the bank, employees, went to great lengths to hide their own conduct from their supervisors. so, this will open the question -- both of the senat

hunger games it's a game it's a command and control game the guy controlling it is mark carney and george osborne and the likes of those people now we're also going to look at the fact that you can't even work your way out of this hunger situation you can't there's no way to get out of the game without picking up the tools they provide for the game players in this game so here's a tweet from robert peston who is the b.b.c. economics editor u.k. productivity especially output per hour fell further behind most rich country competitors in twenty twelve so these are the new data coming out and again productivity down here that means that means wealth creation is down here that means if you're not playing this game the hunger games then you're getting hungrier and more homeless. they don't want to pay people ok. it what he was talking about there's a the hour's work for an hour's pay is. getting a lot less money what you're for reading less wealth with every hour you're working because there's nothing to do but to sell a burger at mcdonald's and there is this misallocation of of capital as we talked a

up ten to twenty percent to buy flats that are already ridiculously overvalued because of the george osborne mark carney liquidity and the help to buy ponzi scheme ok so what happens is you know you can keep putting money out there and liquidity and the united states learned with fannie and freddie by allowing them to go hog wild and that blew up now president obama getting back to that for a quick second said the real estate market is recovering but if you look at who the buyers really are what you've got are a lot of hedge funds and you've got a lot of banks that are buying bank funded and entities that are buying single family homes to rent them out so that it's turned into more of a marketing you know the next best investment and goldman just came out with a securitized program to sell bonds on these which we've seen something like this before when it blew up the first time like timberwolf and the other subprime investments i mean this is just the same stuff recycled because the market has a very short life look at this it does not just doesn't hurt america. foreign policy is if latin am

george osborne called on -- toped nations to call provide aid to ukraine.s the political aide there, it is seems not. does that mean his request was meaningless? >> i do not think so. it is a very complicated situation. it is not a trivial country. it is almost 45 million people. important geopolitical location. it is one if they got the policies right it should be a rapidly growing economy for years to come. is a will tohere support it the ukrainian authorities are willing to do their part and institute the obviously needed reform. >> before we came on air, i interviewed stewart eisenstadt and. the eastern part of the unit crane -- of the ukraine leaning towards to more moscow and the other side wants to side with the ee. the eu/russia split was the reason we see ourselves in this turmoil to begin with. perhaps the politics is above my pay grade in dealing with the ukrainian authorities. i had a strong sense that ukrainians are in favor of ukrainian independence. russia has very significant economic interest in ukraine. the west is hoping for future relati

. >>> harvard economist larry summers has repeatedly criticized george osborne's plan a of economy cuts. george osborne says that he wasn't convinced by the economist's accusations. >> i'm not whole by persuaded as a sector stagnation argument as larry summers and other have advanced. because i think it's too pessimistic about the potential of western economies, he principally is referring to the united states, but the uk and others to be centers of innovation. >> chancellor osbourn warned that britain's housing shortage is likely to persist for at least ten more years. however, he defended the actions in the property market and played down fears of a bubble forming in residential prices. ross, weigh in here. we keep suggesting that the bank of england could use macro prudential tools in order to cool the housing market if it has to. interestingly, bank of america suggested this week that that is not going to be sfusht and rauf. >> yes, i'm sympathetic to that view. mark carney keeps talking about monetary policy being the last line of defense in dealing with financial stability issues,

at the moment which is why you get the cabinet and statements from the services released guy george osbornen the dire consequences of scottland and the rest of the uk could be severe and britain has a weak international position and runs a current deficit of 3% gdp and jumps up to 6% if the rest of the uk looses the oil and that is a serious economic impact on the rest of the uk and potentially and poses questions about how we run this and dependency and even on the city of london so it's a major up set which is why they take it so seriously. >> intriguing and james thank you for your insight and that is james medway a senior economist with the new economic foundation joining us from london. an update on the breaking news we brought you earlier about egypt's government that resigned according to the website. we are now hearing that the current prime minister has been tasked to form a new caretaker government and we will of course bring you more details as we get it. now, after four failed attempts the part of the town of nitrovika has a new mayor and has claimed viktor based on the official