imf telling that if you need the reserves we will provide them with reserves.d i just did this with mexico discussing something that was rather significant because something as big as $72 billion. they may not need it that they know that they don't -- they better rely on imf. that's a big change in the rule of time. it goes back to the use of institution 60 years ago. in 1944 people were talking about this idea having something which regulates the system. >> charlie: qualitative easing by the federal reserve. chinese who had resisted appreciation of their currency said what are you doing. this is wrong. look what you're doing. it's unfair to us. >> well i was surprised you didn't ask the question earlier. >> charlie: yes. >> you know, the u.s. economy is still the leading economy. and growth in the u.s. is the most important thing. if growth goes on, maybe enough, as high as we could wish but strong enough, then if we have a lot of consequences on the global question. on the contrary, if they were -- it's of vital importance for the global economy that there is

on the imf, it is interesting. there is this frustration, why should we be helping out the imf and bailing out other countries? that presumes that if we don't help those countries, and they don't reform, we are unaffected. the more likely outcome is if there was not the imf, we would have to be directly bailing out these countries and we would then become the bad guy, because we would be the ones imposing, as the lender -- you take our money, you have to fix this and that -- and it people blame us. it is convenient to have the imf blamed in the stand -- in these negotiations. that is why they brought it into the irish bailout in the end of the day, the germans to not want to be blamed in the public eye. host: growing demand for american goods overseas pushed exports to their highest level. "the commerce department says the trade as it never to $38.7 billion in october -- trade deficit narrowed to $38.7 billion in october. exports rose 3.2%, the highest level since august 2008. sales of american made machinery and f

the package involves the imf and other european countries and a bilateral loan from the uk.will help take the sovereign out of the debt markets for a couple of years and also help fund a restructuring of the irish banking system which are absolutely key to getting some stability into the irish economy. and i thought it was important for the uk, although we didn't have to, to make a contribution to that package beyond just being an imf shareholder, beyond being a member of the eu. so we're offering a 300 quarter billion pound bilateral loan to the irish. and i expect it to be taken off as part of that international package. >> let me ask you about the euro membership because your party of course opposed the eu membership on the grounds signing up to a single currency would be a major loss of control to brussels. do you agree that this is actually an indication that we'll see europe's federalists push through a political union of some sort where as the stronger countries will have more influence on the weaker countries in terms of how they're governed, and the stronger countri

we also told you that the imf would bail out europe. here we were on this program, i don't know how many months ago. watch. >> we're not only bailing ourselves out, but now we're trying to bail out europe as well. the european union, along with the imf is giving $1 trillion to greece. $1 trillion. the u.s. contributes 17% of the imf funds. >>> okay. we told you that and nobody really paid attention. now we find out through the feds that we are going to do almost another trillion dollars, your tax dollars, over to europe. we also found out that we have sent $3.3 trillion in our bailout, a lot of it went over to europe, went over to france, went to germany, spain, et cetera. and we're sending more. we also found out in breaking news today, breaking news, we speculated on this program, the g.e. was getting money. remember we were talking about what a great investment ge is making with msnbc, falling in line with the president of the united states and having a great cozy relationship with him? well, they got their payment. $16 billion went

on the imf, it is interesting. there is this frustration, why should we be helping out the imf and bailing out other countries? that presumes that if we don't help those countries, and they don't reform, we are unaffected. the more likely outcome is if there was not the imf, we would have to be directly bailing out these countries and we would then become the bad guy, because we would be the ones imposing, as the lender -- you take our money, you have to fix this and that -- and it people blame us. it is convenient to have the imf blamed in the stand -- in these negotiations. that is why they brought it into the irish bailout in the end of the day, the germans to not want to be blamed in the public eye. host: growing demand for american goods overseas pushed exports to their highest level. "the commerce department says the trade as it never to $38.7 billion in october -- trade deficit narrowed to $38.7 billion in october. exports rose 3.2%, the highest level since august 2008. sales of american made machinery and f

imf-eu and moved toward putting our own house in order?d happen if you actually did this tomorrow? if the shadow chancellor bought out tomorrow and told me to adopt his plan and the u.k. would back off its fiscal considation program, it would take much longer. we're with the u.k. be within 30 minutes after that statement? >> the number of losses of jobs in the public sector has been revised downward. i'm very concerned that the $18 billion -- about the 18 billion pounds. was that an explicit decision a policy by the chancellor? does he think that is fair? >> a, i do, of course, think this pending review was fair. at i said at the time, if they would produce an actual spending review, maybe we could compare, but they do not want to do that. i said to the budget and spending a rebuke that i would make you a code decision to try to seek further -- and the spending review that i would try to make further changes. this is a challenge that anyone doing my job would face. we need to reduce the cuts in departments. that is what we were able to do.

the reforms were carried under instructions from the imf and european union, which underlined the factthat greece has lost its financial independence. as far as unions are concerned, all of these reforms are things that are going to set labour relations back to the middle ages. the prime minister said that it was essential to give firms the flexibility of the wages so that they can stay afloat another would not be more unemployment. this is some of the worst social unrest the country has seen this year, but still, the government refuses to be railed -- to be derailed. bbc news, athens. >> let's give you the latest headlines this hour on "bbc world news." six leading figures have been named publicly by the international criminal court. and the u.s. justice department is suing b.p. and several other companies for the gulf oil spill. after last weekend's fatal shooting at a match followed by an outbreak of ethnic violence, no charges. hundreds of people were rounded up in a massive security sweep. >> on the streets, hundreds of arrests. there have been reports that people from the caucasu

the reforms were carried out under instruction from the imf and european union and underlined the fact that greece has lost its financial independence. as far as the trade unions are concerned, all these implement reforms are things that will set labor relations back in greece back to the middle ages as far as they're concerned. it was essential to give the firms the flexibility of the wages so they could stay afloat and they would not -- there would not be more unemployment. this may have been some of the worst social unrest the country has seen. the government refuses to be derailed from the path of austerity laid down by the international creditors. >> here the haight -- latest headlines. three years after kenya's election violence, six figures have been named publicly on the international criminal court. the u.s. justice department announced it is suing bp in several other companies for the mass of gulf oil spill. at least 27 refugees heading for australia have died in suspected people smuggling boats that smashed against the coast. it is -- has the country's largest detention cent

a week after ireland applied for help from the imf, its finance minister has made plans to take 6 billion euros. >> the scale of this adjustment is demanding, but it demonstrates the seriousness of our intent. a gap between government receipts and spending is on as 19 billion euros this year. that gap must be closed. >> the european union finance ministers have decided not to provide extra money for the bailout fund for european countries in financial trouble. the international monetary fund has concern at that spain, portugal, and possibly other countries will join ireland and greece and any help. almost all tamil civilians have now returned to their home area. 300,000 tamil civilians were living in a camp a year-and-a- half ago. that has fallen to 20,000. nigerian authorities have filed charges against nine people, including the former u.s. vice- president dick cheney. the charges date back to when he was ceo of halliburton. he has denied wrongdoing. he blames the issue on a subsidiary of halliburton that has split from the company. ed new news that a drug can it stop the risk of dying

. >> together with the imf, the european union made available 120 billion euros for greece. our rescue fund of 750 billion euros was put together from all hold your zone -- the whole eurozone. not everyone was happy, because it came with strings attached. the country had lived beyond its means -- beyond its means for years, no sellers and pensions have to be cut. it brought people of on the streets in protest -- out on the streets in protest. >> the bailout package allows the greeks to finance the deficit for three years at low interest rates, and in this time, they have to massively reduce their deficit. >> i cannot imagine that breeze will be in position to raise money on the financial markets. -- that greece will be in a position to raise money on the financial markets. they have to declare bankruptcy and creditors should be allowed to write off a part of their money. >> that's a risky statement to make. if you make statements like that, the markets will? get jittery and they will sell a lot more of the bonds they are already viewing with a lot of mistrust. >> one questio

greece, the parliament in ireland apoved the plan to accept a bailout from the european union and the imf. ireland is the second euros on country to receive international aid after greece. -- ireland is the second euro z one country to receive international aid. moody's has been morning spain that they could be downgraded. they do not expect madrid to have to accept a bailout. this would put tremendous pressure on the euros on if this happened. euroeuro zone worries that affected the market today. we have this summary from the frankfurt stock exchange. >> it is the middle of the week and the markets are still flat lining. the dax stood at about 7000 points mainly because of economic data from the u.s. has been better than expected. and just to production rose while prices stayed low. the low inflation data shows that interest rates might remain low which is a good fact for stock markets. car shares have been driven down but only in germany. registration numbers went down by 7% in november. this shows that there is still no sign of better times for the carmaker's ahead. >> we will look at

>> i think as many people, including the people at the imf argue, the chinese currency is probably undervalued. and it needs to appreciate in coming months and years. but i think more important point is not how much at this moment the chinese currencies are undervalued. that is not so important. mostly important is how to smoothly adjust the currency in coming years, because chinese economy will continue to grow very rapidly. if not 10%, 8% or 9%. which means that the chinese economy's annual productivity gain is very substantial, far larger than productivity gains in the other economies, u.s., europe and japan. that means that whether or not the currencies at this moment are undervalued, the currency anyway has to adjust year after year, vis-a-vis reduced currencies. >> china argues that letting the yuan strengthen as much as its trade partners want would greatly hurt its economy. do you agree? >> from 2005 to 2008, actually the chinese yuan appreciated i think about 20% against the dollar. without creating any problems in the chinese economy. so although large fluctuations would damage the e

in a sense that just before i walked in the imf package is in doldrums. we cannot deliver the reform. .. as he said, the counterterrorism war is in pakistan and the sooner people realize it, the better. there will have to be a concerted counterterrorism action within pakistan. this is the heartland of pakistan, and it is a tenuous situation and i think really at the end of the day, the fighting that has taken place in afghanistan is taking all the money and all the effort. the effort will have to be put inside pakistan and it will have to be primarily pakistani effort. now, why one may ask is a country which has the epicenter of terrorism, why doesn't it have a counterterrorism force? you may ask this question. this is ridiculous, because a counterterrorism force will act against all sections of the whole gambit. why did terrorism come about? terrorism came about because of corruption. terrorism came about because of organized crime and terrorism came about because of the injustice that was there. now, al qaeda has many faces in pakistan. it is not osama

some people said that too much control of their policies at the imf and some were surprised that we haveuch more control over others monetary policies to the imf. >> the republicans saying "no" to everything on purpose, another will get the house of representatives back. looking back on what happened during the blair years, what is the difference, what the tories could do when tony blair was in charge versus what the republicans can do in the united states when they were not in charge? >> what happened in our time, we inherited -- we left for the other government a very prosperous economy. they held the line for a bit. then something went wrong with spending. we criticize them pretty roundly at the time. you're not mending the roof when the sun is shining. and when it rains, we'll get wet. that is what happened. it is much more difficult now, starting from a difficult position and to get back into the economy. i do not know if i am fair about this. but there is one thing which i have noticed about politicians. if they will lose in the vote because they do not have a majority, they can sa

fine gael once the imf out of here. we are an educated, accomplished people, while capable of earning our own affairs. at times of crisis, we tend to turn to the heroes of the past for expiration, to collinson griffith in delaware and thomas. i know the members from all sides of the aisles to that. therefore i will finish by reference to a quotation attributed to michael collins which we can all ponder. collins said, give us the future. we have had enough of the past. give us back our country to live in, to grow in, to love. thank you very much. [applause] [applause] [applause] >> without the new star trek v. been ratified by the senate but we do not have a verification mechanism to make sure we know what the russians are doing. and they don't know what were doing. and when you have uncertainty in the area of nuclear weapons, that's a much more dangerous world to live in. be >> descendent of an impeachment trial today for federal judge thomas porteous who faces four counts of lying to investigators. if two thirds of the

this year, for example, the imf help fund the bailout for eurozone members greece and ireland. >> europeanck markets ended mixed on thursday as positive economic data from the u.s. failed to animate pre-holiday trading. for an update on the market, we spoke to our correspondent. she sends us this report from frankfurt. >> the german dax gained 1% throughout the week, a good sign of the new year begins shareholders are still confident. the severe winter weather also played a role in the stock market. live danza -- live dance the shares could recover. and scandinavian airline could be taken over. shares of deutsche bank ended excuses talks over the sale of a company. finally a solution for this problem, traders said. >> taking a closer look and market numbers, in frankfurt, the dax closed slightly lower. the eureuro stoxx 50 close lowe. in new york, positive did have had little affect on stocks. the dow is trading down. in currency markets, the bureau is steady against the dollar after china said it would help struggling eurozone countries. the hero is trading for $1.3110. a mining group has

this was an exchange for 110 billion euros of bailout from the imf and the european union. earlier, demonstrators against the measure hit the streets. >> in the end, their resistance was blown away. all day, they had demonstrated outside of the greek parliament, striking trade union members determined to stop the government's plans for an austerity budget. previous protests had turned violent. at this time, the police took no chances. but their shields were not needed. the demonstrators at anchor turned to resignation -- the demonstrator resignationanger -- the demonstrator's anger turned to resignation. >> it is the difficult moment ever in greek history. >> the protesters blamed the greek government for the country's economic woes and are furious at its attempt to solve them. public sector workers have seen their taxes rise and wages cut 15%. inside, the parliament mp's voted to squeeze harder. the approved an austerity budget to cut public spending and raise taxes even further. the socialist government's narrow majority was just enough to get it through. >> truly, we hav

in europe so the greek debt problem developed to the level of the financial rescue by the eu and the imf. and that had a great impact on the euro. i think it was an underlying cause for the trouble and that it was the less than expected economic recovery such as lowering of the world economy recovery weakened the euro and dollar against the yen. the japanese government intervened in september but that wasn't effective. and so the yen/dollar rate hit the atn at the end of october, the lowest of the last 15 years. things have changed since november when the u.s. introduced quantitative easing phase two and also the bank of japan implemented comprehensive easing monetary policy. overseas investors saw the turning point in the yen/dollar rate and also saw the earnings strength of the japanese corporations even despite the higher yen. and so they are starting to appreciate the japanese stocks and now are overcoming those troubles toward next year. >> investors will be keen to see if the nikkei can continue the overall positive momentum that it's seen since early november. they'll also be look

europe's debt problems persist despite a recent decision by the european union and the imf to spend 85 billion euros, or about $110 billion to bail out deficit-laden ireland. market players say worries over credit will remain for some time. concerns are growing as some fear the problem may spread to larger economies like spain. >>> prospects for job seekers across the 16-nation euro zone is grim as the jobless rit remains at the worst level since the euro was introduced 11 years ago. the european commission announced on tuesday that the eurozone's unemployment rate hit 10.1% in october. the commission is the eu's executive body. the jobless rate in the eurozone has been 10% or higher for seven consecutive months since april. the figure for the 27-nation eu also remained high at 9.6%. by nations germany's jobless rate stood unchanged at 6.7%, thanks to its brisk exports tome engineering nations. unemployment in spain, which is suffering from a financial deficit of 20.7%, the highest among eu nations, while that in ireland, which will be receiving financial aid from the eu, marked 14.1%.

people talk about the imf coming up with another currency. that would be a lot worse than the dollar reserve standard because it would be mandatory around the world. also, it will provide an incentive for some nations, may be in the far east to come up with a currency backed by gold and people will want to go into that to read -- in that direction and reject the dollar. gold has moved east. the central banks in the far east has a more large accumulation of gold. it could be dangerous. the danger of the congress taking over, i recognize that. i do not want that. some of my allies who do not like the that, we call them the green bachus. they say congress should print the money -- the greenbackers. there is an explicit prohibition against printing money whether it is the fed or the congress. >> we have about 10 minutes left. >> you have made on getting the fed a central plank of your movement. a lot of people hear the word on it and they do not know what it means. the fed books are audited by a private accounting firm. you are talking about a po

. >> that was under the you imf program. there was a substantial amount to boost their reserves of the bank. the idea is to provide enough buffer for future losses. >> at the start of arlen's financial crisis two years ago, the irish government guaranteed all of the bank debts in deposits. it seemed like a good idea at the time. but was it? >> for the irish government's own interests, it was a mistake. it meant that private debt and public debt have become one and the same. the irish bank system has effectively become the anchor that is telling the irish government underwater. looking at it from a global financial-services point of view, if banks in ireland had been allowed to default on their debt, it could have sparked a major global financial crisis similar to what we saw following the collapse of lehman brothers. >> state intervention is slowly restoring stability to the sector. but there is still a long way to go. and with the general election due to take place soon, ireland is injuring the new year facing financial dif

the eu and imf will inject a combined 85 billion euros, or about 110 billion u.s. dollars. but that wasn't enough to stamp mounting concerns that credit woes may spread to other eurozone economies with huge fiscal deficits. >> down side risks will lead to tensions in some segments of financial markets and their potential spillover to the euro area economy. we will continue to monitor all developments over the period ahead very closely. >>> overseas during the year-end -- the number of japanese travelers heading overseas during the year-end and new year holiday is likely to increase for the first time in four years. japan's leading travel agency, jtb, estimates 582,000 people will travel abroad between the december 23rd and january 3rd. that's up 3.4% from a year earlier. jtb says the increase is due to a stronger yen, which has helped bring down the cost of traveling overseas. it also says people have had greater access to flights since tokyo's haneda airport began regular international service in october. the company says it expects 68,000 people will travel to europe. tha

this week ireland's parliament voted in favor of the $115 billion bailout package from the eu and the imf. bp shares recovered after falling in early trading in london. the u.s. government revealed it is suing the energy firm and its partners, eight of them, over the gulf of mexico oil spill. the lawsuit claims the companies failed to use the same equipment, did not properly monitor the well and violated safety rules designed to protect workers and the ocean. goldman sachs paying out more than $110 million in bonuses next month. including a bonus of more than $24 million for the chief executive. the investment bank took $10 billion in government bailout -- $110 billion government bailout from the government. that has to cause a little controversy. subdued trading. investors -- the same story -- they are clinging on to those eurozone worries. the whole sovereign debt issue and what will come out of the eu leaders summit which kicks off today and continues tomorrow. it will be -- will we see unified action? that is what the markets are waiting for. >> looking forward to the christmas break.

we'd be queuing up with ireland to go to the imf. >> ann mccain. -- main. >> binge drinking has fueled an economy in this country which has sadly seen people the victims of knife crime. have i asked him to stiffen the justice secretary resolve for those who carry knives and those who commit knife crimes? >> had honorable lady mak a great point and if she read the green papers adults committing a crime with a knife shoulexpect to go to prison. that is absolutely right. because there are far too many people committing knife crimes today who don't go to prison and they should. >> mr. gregory campbell. >> the dissident terrorists is a continuing problem northern ireland and we've seen their evidence of their capabilities in recent months. will the prime minister ensure that if additional resources that weren't previously envisaged are deemed necessary by the steve constable to deal with such a threat that he will ensure that they are prevailed without delay. >> of course, we keep a very careful eye in the situation in northern ireland and whether additional resources are required. we stuck

the governor of the bank of england, the cbi, the iod, eocd and the imf they were all saying the last government didn't have a proper plan. we needed a plan, we've got a plan. we should stick to that plan. >> thank you, mr. speaker. could i wish the prime minister well in zurich and we get the right results. and there was a consensus around the house that something needed to be done. it was an offer from the shadow benchmark trying to come to an arrangement on this issue. will the prime minister look at it very urgently with the secretary of state for education as i'm sure we can resolve this measure because i'm sure this is important -- >> i know the honorable member was a very successful sports minister in the last government and thank you for his endorsement of the 2018 and all we're trying to do to win it for england and all we're trying to make for school sport is possible. and i'm carefully looking at the debate that was held yesterday. we do have a shared interest here. we all want good sport in school and more competitive sport and we all got to make sure that money is spent w

that point; the governor of the bank of england, the cbi, the institute of directors, the oecd and the imfl saying that the previous government did not have a proper plan. we needed a plan, we have got a plan and we should stick to that plan. >> i wish the prime minister well in his efforts in zurich and hope that we will get the right result tomorrow. there was a great debate in the house yesterday on school sport partnerships and there was consensus that something needed to be done. there was an offer from the shadow front-bench team to try to come to an arrangement on the issue. will he look at it urgently with the secretary of state for education? i am sure that we can resolve this matter, because it is important that sport is available to all. >> i know that the honorable gentleman was a very successful sports minister in the previous government. i thank him for his endorsement of the 2018 bid and all that we are doing to win for england. the honorable gentleman's point about school sport is important. i am looking carefully at yesterday's debate. we all have a shared interest. we all

we would be queuing up with ireland to go to the imf. >> anne main. >> drunks and binge drinking haveuelled an economy that has sadly seen people the victims of knife crime. may i ask him to stiffen the justice secretary's resolve in dealing with those who carry knives and those who commit knife crimes? >> the honorable lady has made an important point. if she reads the green paper, she will see that adults committing a crime with a knife should expect to go to prison. that is absolutely right, because there are far too many people committing knife crimes today who do not go to prison, and they should. >> gregory campbell. >> the dissident terrorist threat is a continuing problem in northern ireland, and we have seen some evidence of the terrorists' capabilities in recent months. will the prime minister ensure that if additional resources that were not previously envisaged are deemed necessary by the chief constable to deal with such a threat, he will ensure that they are provided without delay? >> of course we keep a very careful eye on the situation in northern ireland, and on wheth

. >> together with the imf, the european union made available 120 billion euros for greece. our rescue fund of 750 billion euros was put together from all hold your zone -- the whole eurozone. not everyone was happy, because it came with strings attached. the country had lived beyond its means -- beyond its means for years, no sellers and pensions have to be cut. it brought people of on the streets in protest -- out on the streets in protest. >> the bailout package allows the greeks to finance the deficit for three years at low interest rates, and in this time, they have to massively reduce their deficit. >> i cannot imagine that breeze will be in position to raise money on the financial markets. -- that greece will be in a position to raise money on the financial markets. they have to declare bankruptcy and creditors should be allowed to write off a part of their money. >> that's a risky statement to make. if you make statements like that, the markets will? get jittery and they will sell a lot more of the bonds they are already viewing with a lot of mistrust. >> one questio

ken is a harvard professor and former chief economist of imf, international monetary fund. this tax proposal could cost $800 billion or more. you warned us before of a looming debt crisis. larry summers went further. this is what he said. he said if they don't pass this bill in the next couple of weeks it will materially increase the risk that the economy would stall out and we would have a double dip. is what he's saying true and does that make sense? >> i think we need something like this. there's no question. unemployment is hanging up at a high level. we need some stimulus. it provides clarity and confidence but you're right. we got to pay for it down the road. it's not a free lunch. cutting taxes does boost the economy. it doesn't cost as much as most government spending. there's no free lunch. >> it does kind of feel like everybody punts this one. everybody does the thing that's politically expedient at the time and then doesn't deal with the fact that the deficit is looming. this has gone from an issue that hawkish conservatives were concerned about to an issue every

only if fraction of these could be delivered significantly beyond russia's borders pursuant to the imf treaty and the soviet union long ago destroyed intermediate range or shorter-range ballistic missiles and cruise missiles arranged between 5200 kilometers. most of russia's tactical nuclear weapons have short ranges used for homeland nuclear defenses in the chinese border in storage. a russian nuclear attack on nato countries, deferred by nato conventional superiority. our own tactical nuclear forces, with strategic forces. nuclear weapons and not threaten our strategic deterrence. and in eastern and northern europe understand this and strongly endorsed the new s.t.a.r.t. treaty. it is important to recognize the size differential between russian and american tactical nuclear arsenal did not come to pass because of america's in attention to this point. during the flush -- first bush administration our national command authority with full participation by the military, to reduce the number of tactical nuclear weapons we deployed. this was irrespective of russian action because the threa

so if the real economy is poised to grow, why do we need the help of the imf and the eu? the answer is: we need their support to break the vicious cycle that has threatened our national finances and our banking system since the second quarter of this year. following the greek crisis this spring, funding for the state and our banks became increasingly expensive. the rising costs of dealing with the banks that became evident during the autumn and the growing concerns about the prospects for the global economy reinforced doubts among international investors about the sustainability of our public finances and our capacity to fix the financial system unaided. the joint program of assistance, involving stand-by resources of up to 85 billion, provides us with the firepower we need to restore market confidence, strengthen the financial sector and press ahead with our plans to reduce the budget deficit and facilitate the economy's return to sustainable growth. without this support, there would have been serious doubts about the ability of the state to raise funds at reasonable cos

this year, for example, the imf help fund the bailout for eurozone members greece and ireland. >> europeanck markets ended mixed on thursday as positive economic data from the u.s. failed to animate pre-holiday trading. for an update on the market, we spoke to our correspondent. she sends us this report from frankfurt. >> the german dax gained 1% throughout the week, a good sign of the new year begins shareholders are still confident. the severe winter weather also played a role in the stock market. live danza -- live dance the shares could recover. and scandinavian airline could be taken over. shares of deutsche bank ended excuses talks over the sale of a company. finally a solution for this problem, traders said. >> taking a closer look and market numbers, in frankfurt, the dax closed slightly lower. the eureuro stoxx 50 close lowe. in new york, positive did have had little affect on stocks. the dow is trading down. in currency markets, the bureau is steady against the dollar after china said it would help struggling eurozone countries. the hero is trading for $1.3110. a mining group has

and the other is the prohibition of participating in international monetary organizations like the imf and the world bank and the inter-american development banning and so forth. so it's going to be very difficult for a cuban economy to implement market reforms if they are not permitted to participate in this international financial organizations. >> suarez: this man was imprisoned by the communist regime. he was only freed when his health declined. he's experienced the heights and depths of revolutionary cuba. in a tiny apartment, he shows me his soap allowance for the month, his ration card. as a representative of the cuban government in eastern europe, he watched communism collapse in other countries and lost faith in the system's future. >> it's a process. you think, you analyze what's going on in your country. then you see the mistakes or the wrongdoings. for example, right now we fliv a moment of complete frustration and most of the cuban people are feeling that way. the revolution is going backwards. it's now taken the country back to a point that is worse than it was before 195