voted on the imf. their vote percentage will increase by 8%. you'll be giving russia more power within the imf with these imf reforms. so i don't think that you're sending the signal you want to send by allowing russia to have a greater deal and greater power within the body of the imf. really should be going in the opposite direction. moody's says there's $20-$30 billion owed by the ukraine to russia. i think we just need to think this true, and i know -- think this through, and i know the impetus is to hurry up and act and send a signal, but i don't think we're sending the correct signal by sending loan money that will find its way very quickly into russia's hands, and i would urge support for this amendment which is paul amendment one. >> senator paul, just for purposes of understanding, you have several, is this your amendment number one? >> yes. >> okay. senator corker? >> first of all, i always enjoy hearing from my friend from kentucky, and he always makes interesting points, and i want to thank

the central role of the imf in this assistance effort is an illustration of why the imf is so vital to political interests. the imf is the world's first and more of the active responder in an economic crisis by providing financial support and hands-on policy advice. the imf helps keep our allies and partners strong and prevents dissatisfaction from spiraling in a political disability. this makes the imf role critical to our nation's economic well being. when instability abroad washes up on our shores, it results in fewer jobs and savings are hurt through financial markets. for the united states to continue playing a leading role at the imf as it helps ukraine, one of most significant steps we can take right now is to pass the 2010 imf quota and government reforms. why is this so important? first, the united states has the only major economy that has not passed a 2010 reforms. and our inability to act has led other countries to worry that the united states is retreating from its position at the imf at a time when its role is so pivotal to the future of ukraine. the refors would support

influence on the imf. would reduce our ability to control the decisions of the imf. indeed would move the fund from a fund which we have veto authority which one we have no longer veto authority. we would have a smaller portion of influence over the imf and a fast nunnishing, madam president, number four, this bill would expand russia's influence and control over the imf let me repeat. a bill that is okays stepsably stuffed to punish russia, for their act of war and act of aggression would expand russia's influence over the i in f and decrease the united states of america's influence. madam president, i agree with my friend from alabama who suggested moments ago, this is through the looking glass. this makes no sense. i would challenge my friend to stand up mere to explain why a sensible response to what russia is done and expand russia's influence in the imf and diminish america's influence. that makes no sense whatsoever. madam president, i want to close with two points. number one, we could pass aid for the people of ukraine right now today. the senator from wyomi

that is condition much imf. leadership of ukraine has shown willingness already to move indi that direction. that is very positive sign. >> i know elections are supposed to be scheduled for may. do you think there is leadership there. or would the current person in power just run for rec hundred -- election. that is to anybody. thank you, mr. chair. >> >> congresswoman, the electionsa are set for may in presidential election for ukraine. candidates are not formallyid announceden. nor has anyone formally submitted their candidacy. the current prime minister indicated he would not be candidate and will run the interim government. we see what develops. but we believe it is absolutely critical there is fully, free, fair election in ukraine toen choose its new president.ly >> we'll go to mr. bill keating of massachusetts. would you like to have the last question before we recess? >> thank you, mr. chairman. couple of quick questions. number one, nato secretary-general rasmussen has said the alliance plans to intensif

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the reason we seek to strengthen the imf's efforts by approving the pending 2010 imf quote on governance reforms, it would increase available imf emergency funding to ukraine by 60%, sending an important signal to other potential donors such as the e.u. and world bank. it's also crucial to insure that the united states maintains its preeminent leadership and influence within the . >> the position to do that is through the imf. even our loan guarantee which is certainly desirable is nowhere near what you're going to need to accomplish to the imf. so, you know, we need to get this done for the ukraine, and we need to get it done for the next global crisis and for us to be in a preeminent leadership position with influence over what the imf does. and we do that by meeting our obligation. and so i think it's very important to do so. i oppose the gentleman's amendment. i respect his views. i think we have had a full debate here. does the gentleman want a roll call vote? >> i'd like a roll call, but just quickly to respond, i don't believe the imf would not be able to act. i just want to refut

imf, let's face it. this is an issue that's going to be, this is going to be a little bit more difficult on our side of the aisle, i'll put it that way. this is something to me that is incredibly important to our nation agreed to these reforms back in 2010. ukraine -- for a while we need the imf doing things that it is doing in order to transition ukraine, transition its government, transition the way it deals with budgets transition away deals with corruption. and i strongly support the imf imf reforms and another will be members of the committee on our side of the aisle that likewise do that. so with that this bill i think helps ensure that we have significant geopolitical effects what's happening. i look forward to the amendment process that we're getting ready to go through, and hopefully pass a bill out of this committee in the next 30 minutes or our. thank you. >> thank you, senator corker for every strong statement in support of the bill. let us get started. i have a technical amendments to offer

the central role of the imf and the assistance effort is an illustration of why the imf is vital to the. economic political interest. it's the worlds first and most active responder in the economic crisis by providing financial support and hands-on policy advice. it helps keep our allies and partners strong and prevents economic dissatisfaction from spiraling into political instability. this makes the role critical to the nation's economic well-being. with instability abroad it washes up and delivers u.s. growth resulting in fewer jobs and citizens savings are heard through financial markets. for the united states to continue it helps ukraine was the most significant steps we can take right now is to pass the 2010 imf quota. why is this so important? first the united states is the only major economy that hasn't passed the 2010 reforms. the inability to act has led other countries to worry the united states is retreating from its position of leadership at the imf at the time its role is so pivotal to the future of ukraine. second, the reforms would support of the capacity to lend additio

to the imf. the imf is the most solvent financial institution in the world, and the risk of imf default is demin muse. we would have paid for all this budget impact, real cuts, as my colleague and ranking member on the committee, bob corker, asked, and we came together, and we figured it out. the appropriators determined underperforming funds, programs that would -- from which we could take these funds, and we ultimately came to a very successful conclusion. i regret that the failure to strengthen the imf to support the ukraine and other foreseen crisises around the world will endanger the system that we've so pain stakingly built, and it shouldn't need arguing that fragmentation of global economic governance is not in our national interest. the fact is, mr. president, imf reform combine with the aid package for ukraine sends a clear and unambiguous message to the world that crimea will not send, but understand the institution our our political realities, so i came to the floor to ask that we cam

every other imf member as signed on but the united states. some people are categorizing this imf part of the bill as a political add-on. that could not be further from the truth. when we met with the ukrainian officials they specifically asked to the pass the imf reforms because this is the only way they will get the $20-30 billion in relief. and the imf will be more likely to agree if the united states steps up. and lastly, we need to send a strong message for what he did in crimea. we will show putin was wrong when he calculated a march into crimea would come at little to no cost to russia. i want to talk about what this tells us about the status of russia in the region in the world. i am sure my colleagues will talk about the importance of sanctions. but i have watched the media portray the events of the last couple weeks as a sign of russian strength. to me this isn't a sign of russian strength. this is a sign of russian we weakness. putin has designed for reestablishing some sense of the old soviet empire by reasserting control over what

but first let us start with imf. an interim bailout with ukraine known as a stand-by agreement. the loan value worth $14 billion to $18 billion. of course the money needed to stop the country defaulting on its big debts. further loans could take the total sum to $27 billion over the next two years. all of this subject to an economic reform program. talks between the two sides concluded late on wednesday as ukraine announced it would increase gas prices for its domestic consumers, customers by 50%. now, by doing that, basically ukraine bowing to imf pressure to remove those subsidiesubsidi. great to have you in the studio with us. wow. a 50% price hike for consumers in gas. i can only imagine that's foggy to hurt. is it the whole point when you see the imf loans given out, they don't come free, they don't come cheap. >> they don't. they typically are across the board, not just energy but job losses, wage caps, as well as changes to the rules regarding the financial sector and a host of other different rules and condit

the imf potential for ukraine. obama's words saying you need to de-escalate. merkel talking about tough responses. stocks this month are on track for their worst monthly performance since june of last year. so i think there are layers to this story. and it is whether ukraine has come off the boil for now. and whether we focus again on data. >> and a little bit of pressure on banks in asia. >> if you look at the stress tests, we talk about the nuances. the big news overnight -- citigroup's plan to do a share buyback on hold. the fed says no. the news for europe is the fed has questioned the management unit.ses at rbs's u.s. stock was called lower by 2%> >. >> we will get you the opening price. hans, you are following the ukraine-imf bailout. >> we are waiting, expecting a bailout to be announced somewhere in the range of $15 billion. that money will free up eu money, and japanese money and u.s. loan guarantees. arrive soonerld in ukraine to get their economy back up and running. expecting 3% contraction for the year. >> thank you so much. hans nichols will be w

the imf has strict economic reforms from ukraine. we do not have the details of those yet but we do know that what is a key matter of contention with subsidies, gas subsidies provided to consumers and ukraine. the imf wanted those reduced. we've seen signs on those already. the price increase of 60% from the first of april, further increases between now and 2018. >> stephen, this is money ukraine definitely needs. where is needed most? >> the country only has about enough for two months to cover what it pays for its imports. that could provide a huge blockage in the economy. of course, there are generally wider economic problems in ukraine. ukrainian government says the economy will contract by 3% this year. unemployment is massive there. they say without the austerity that will come with an imf deal, things could be even worse. the country's economy could shrink by 10% and a could default on its debt. >> editor stephen carroll. we have terrific images from houston, texas where a construction worker had a truly lucky escape from a fi

congressional ratification of the 2010 imf reforms would increase imf emergency funding to the ukraine by up to 60% and it would provide an additional $6 billion for longer-term support setting an important marker for other donors such as the e.u. in the world ain't. failure to approve the reforms on the other hand would undermine those the imf and the international standing of the united states. some countries are happy to see u.s. global influence diminish feeling to approve the forms weakens the united states and emboldens our competitors. the imf is strengthened at no cost to u.s. finances grandpas. the united states retains its executive ward seat and sole veto power at no net cost since the 63 billion-dollar increase in u.s. quota is fully offset by an equivalent decrease to a separate emergency facility. other countries however put a new amount for increasing power. the fact is it's a pure win for the united states. we will pay we will paper that printed in 15 million-dollar budget impact of the bill with real cuts from funds underperforming or no longer needed. given the imf he

assiste imf can do to and where the imf fits in to the scheme of things if the west confronts russia.e will talk to the global strategist from pimco, the russia.e about ge >> looking forward to that. showing live pictures. president putin has started his news conference. it is live in the moscow region. we will give you headlines from that. it will be interesting to see what john lipsky has to say. the imf has now arrived in kiev. tom keene with "bloomberg surveillance" and about 25 minutes. tweed. over to you. iconancine, i am with an of the hotel business. he started with the nightclubs in new york and moved onto the boutique hotels. global.aken his brand the marriott hotels. to rollls are going out 100 locations around the world. he has been awarded the lifetime achievement award by the hotel investment for him. -- forum. congratulations. >> thank you. ,> lifetime achievement award you could not get more establishment than that. do you still feel like an outsider or an insider? does it matter? >> it does matter. i still feel like an outsider and i still use that approach. >> why is

imf is part of the solution. the u.s. has to be part of the modernized imf reforms. these changes are needed. >> senator murphy. >> this isn't theoretical, it is practical. developing nations are increasingly hesitant to join with imf efforts to provide relief with the proper strings attached in places like ukraine. so long as the west end on the sidelines. this has practical consequences for our ability to help lead the imf into situations where they are bested but to do so. if we continue to sit on the sidelines and the committee continues to be unwilling to have the u.s. join other nations, there will be justification for those developing nations to provide roadblocks to the type of assistance that ultimately as to u.s. security interests in the case of the ukraine. >> if there are no other members, let me say that i respect the senator's views. i disagree on the imf, particularly in this package. the imf is playing the central anchoring role in developing an international assistance package to stabilize ukraine's economy. and reassure global financial markets. th

we are working with imf. we are working together with imf in these kind of operations.ion and our eu budget, we don't have, unfortunately, the means to do the task alone. member states, korpgzs and also the imf is extremely powerful influence. >> one question about the spanish economic recovery, it's the theme of this conference here. how do you feel about this recovery, are you considering? >> well, the spanish economy has -- the government so we have no more in recession. there is small growth and we need to -- the engines for growth in the spanish economy, not only the financial sector, but also a function of markets, labor markets, services. and we need to strengthen the policies to offer the youth a future. this means create a good environment for investors. we have a lot of things to do. >> thank you very much for being with us here live from bilbao at this conference to promote the spanish economic recovery. back to you in london. >> thanks, ste pan. >>> a quick check in the european markets as we head into a break here. adding to lows for the ftse 100 here. the

the position is through the imf. even our loan during tea is nowhere near what you will need to publish -- accomplished through the imf. we need to get this done for the ukraine. we need to get it done for the next global crisis. for us to be in a preeminent leadership position with influence over what the imf does. we do that by meeting our obligation. so.s very important to do i opposed the amendment. i respect his views. a full we have had oh -- debate. >> i don't believe the u.s. will be standing on the sidelines. i don't believe the imf will not be able to act. i want to refute those charges. this is simply not necessary for this package. but i would request a rollcall vote. say to the gentleman that i spoke to christine. she sees this as an essential element of being able to move forward not only in this crisis but in others. with will likely,. -- which will likely,. we will call the roll. >> no by proxy. >> no. >> no by proxy. >> no. >> no. >> murphy? no. >> no. >> mr. corker? >> no. >> mr. rich? >> aye. >> mr

it also called the imf and other global financial structure is to provide scheme and financial assistance as soon as possible. adjusting to complete the defeat of the precious attempts to annex green yarn and the mission of the referendum and opinions. if evan continues to be legitimate as the sound into prestigious club does not think possible to get at the g eight climate meeting in june would take place without pressure compressor is nothing such as interesting as the plant we have decided to cancel the g eight the slushy and are going to organize the g seven so we don't rush it in brussels are on the same dates. i see the very strong political message that these kind of behavior cannot be corrected. it needs to respect the integrity and of course the dependence of a country european countries like ukraine. values are well fed by russia and violating the independence and territorial integrity. all of a neighboring nation state so this is the g seven issue we will see how long it takes to listen to the schedule and he was to be different than a speech in western countries and russia mis

share of the imf at university.nk you so much for joining us. >> draghi himself has pointed out recently that there's no evidence of deflation in the euro area. there's no evidence of that. we have some disinflationary pressure. we have in some areas falling prices. but those come with natural adjustment prices. those countries regain competitiveness. we should be happy about that. it's not a threat of sustained deflation. >> mr. draghi says they an easing bias during the press conference since the last one we were attending. these are negative deposit rates. this would help speed up inflation a little bit. >> i think if there were a threat of serious deflation, a small negative dpovt deposit rate would be a natural step to take and it would help give up credit and help give additional incentive not to deposit money to the ecb, but to lend it out. but there is no need for that now. i think you always have to look at the outlook for inflation and growth together. we ton be on a path where a projection forecasts are b

imf's number two official.avid thank you for being with us. let's talk about this latest development. your team is staying in kiev we assume that means to work on a rescue or assistance deal for the ukraine? >> they we have had a team there for about a week. the last few months have been very topsy turvey for the economy in ukraine. they have done that work. we have looked at their findings and now we're switching to having a negotiation to see whether they can embark on a program of reform and we can support them with finance that will then catalyze support from countries ash the world. >> typically when the imf goes in and helps a country and puts conditions about reform, they are not faced with the same situation. is there some concern that the imf might put conditions on that could push people on the fence over to the russians? >> i think what is interesting right now, most interesting right now, is that the ukrainian -- the interim ukrainian government realizes the predicament they are in, and they are set

the imf reserve account known as the new arrangements to borrow. the imf is not in our committee's jurisdiction, but it is clearly on the interest of the united states that congress act as soon as possible to maintain the imf's critical role in international crises. i'm told that by passing imf reform it will ultimately mean about $6 billion of extra aid to ukraine. i believe that we need to take a firm stance together and we are doing it with this legislation. i think that russia needs to understand that we are going to boost ukraine, and so that ultimately, the russian aggression will prove a detriment to what they think they've done, rather than give them a plus because of the stealing of territory from ukraine. this will only further our resolve to bring ukraine looking westward, rather than eastward. so we're making clear by passing this bill to the people of ukraine that the united states is with them, and that we are committed to helping them build a more democratic, prosperous, secure and just ukraine, as i said before, looking westward, ra

the imf says the province bad greedy dates yet.the first charge of eight went out with the page ukrainian officials say they're like it's got for money from the european union momo to be in touch with donors have committed money to them. with twenty k line that doesn't come without strings attached the imf has demanded strict economic reforms from ukraine we don't have all the shells of those yes we do know what the key maps of contention with subsidies gas subsidies provided to consumers in ukraine the imf wanted as richie's we've seen since i'm already on wednesday the state and gone from being ukraine that's a price increase of fifty percent in the first of april which warns of further increases the tree now in twenty eighteen steve not this is money that ukraine desperately needs where does it need it the last twenty three across the economy foreign currency reserves is one urgent mastered the country only half the price enough for two months to cover what it pays for its imports mcbride huge the pitch in the economy of course

he went so far as to say it would strengthen russia's hand within the imf. ted cruz is a smart person. he, you know, he knows that russia has basically zero control over what the imf is going to do with ukraine. that's the kind of thing he'll say, and i bet that's the kind of thing you would see get picked up by tea party groups and they'll start e-mailing it around to each other saying, look, you know, obama is trying to surrender the imf to russia. we can't allow this to happen. and so this is the situation we're in. so, you know, what the house republicans say to the senate, maybe it's crazy. but the only way we can get this imf thing through, is to give us the irs thing, too. sorry. that's the way it works. this is how we're going to have to get it through. it's just bananas. >> if you want to know how the united states can respond to the situation, we can do things that the president can do. but anything positive that needs to be done, that has dollars attached to it to help ukraine or the rest of it, it goes into the comment section of the blog posts a

the if imf provision should not have been included in the ukraine bill. had nothing to do with the ukraine. we have bipartisan support for imposing tough sanctions on russia for standing with the people of ukraine, and unfortunately the obama administration tried to use it as an excuse to ram through changes to the imf they've been pushing for, for years, and in particular, if these changes had passed, they would have significantly increased the exposeure of u.s. taxpayers and in addition to that, and even more new orleans sensory, they would have decreased america's influence at the imf and increase russia, and woken you're trying to respond to russia's act of aggression to responsible by increasing russia's influence at the imf, it's through the looking glass. i commend harry reid to listening to the views of the other side and pulling it out of the spoil we can unite with the people of ukraine. >> a heart-hearted view. he also blamed republicans for all but encouraging the crimea raid and the steal, the annexation on the part of russia, because you wer

he went so far as to say it would strengthen russia's hand within the imf. ted cruz is a smart person. he, you know, he knows that russia has basically zero control over what the imf is going to do with ukraine. that's the kind of thing he'll say, and i bet that's the kind of thing you would see get picked up by tea party groups and they'll start e-mailing it around to each other saying, look, you know, obama is trying to surrender the imf to russia. we can't allow this to happen. and so this is the situation we're in. >>> we have wreak breaking /* /- news out of australia. let's listen p. >> ladies and gentlemen, thank you all for keeping everybody informed. as to what is going on with what is most important event in terms of aviation and maritime safety. look, today i'm here to speak to the crews and the maintainers of these magnificent aircraft that are behind me. i want to talk the opportunity to publicly thank all of the crews and all of the teams that keep these planes flying. as you know, it is a four-hour trip down there, two hours on station and fou

ukraine will get an assessment from the imf today.ster says he is completing talks with the imf on a $15 billion loan to avoid default. with just 78 days to go before the opening day of the world cup, the corinthian arena remains a construction site. fifa.ains a concern for holdingndary general is talks with organizers and government officials. chieftar airways executive says it will fly its second airbus a380 to paris. that follows a deployment on london. he also talked about the company's all business-class service that will operate out of heathrow. >> we see that there is a huge demand for travel which cannot begin to be provided by the services we provide today. want all business-class which we will operate. unfortunately, we will not be able to operate from london because the aircraft is a bit heavy. >> from the hague to brussels, president obama continues the european tour that has been dominated by the crisis in ukraine. hans nichols joins us from brussels. what were the takeaways from the summit at the hague and what is next o

could she lose her job at the imf?> that looks like it could be a possibility if it does get to that. the court last year had a lagarde as an assisted witness, it means she could be testifying at any time. if she is found to be numerousle for the anomalies and irregularities, that could lead to charges of complicity in cash and fraud and misappropriation of public funds . this would be a very heavy load to lagarde and the imf and that would mean that the imf would have to find a new boss. speaking of the french capital, it is gearing up for round one of its municipal elections this weekend. much of the attention has been focused on the mayoral race right here. >> leader of the city of over 2 million people, the mayor of paris holds a powerful political position. this year, 2 women are vying for the role. the current front runner is a socialist, protÉge of outgoing she sought to distance yourself from the socialist party president franÇois law and -- franÇois aland and his rock-bottom approval ratings. >> they will be r

so the imf has confirmed an aid package for ukraine which may reach as much as $18 billion. financial support from the wider international community is now estimated at $27 billion. details of the bailout includes an imf assessment of economic reforms needed by officials in kiev. in response, ukraine's central bank chief has warned that overall -- by the deal might be quite painful. at the same time, the eu is to work with washington to try and prepare further tougher sanctions on russia. barack obama has warned that the kremlin is -- europe's borders cannot be redrawn by force. the u.s. president has called for the international community to apply pressure on russia. >> one of the things that i think medium and long-term we'll have to examine is whether everybody is chipping in. and this can't just be a u.s. exercise or a british exercise or one country's efforts. everybody is going to have to make sure that they are engaged and involved and i think that will help build more confidence among some of those border states. >> that was the president. meanwhile, the russian econ

this is an agreement by the ukrainian authorities and the imf, and ultimately put to the imf's membershipn a plan of economic reform that destabilizes and the short run, and put them on a path to growth which has been absent for year. the short-term answer is that without act -- action they face financial disorder. cannot demand this or impose this, but they can strongly. money, bute you this you have to write your own ship as well. of lands that have a chance for success -- in the absence of lands that have a chance for success. >> rather than going into details, it is a requirement for the imf that the program be supported and sustainable. and provide the promise that it will be paid back. returningat is resources linked to another member. >> what about congressional action on this? we heard that the house and senate are getting together on this. they want to get some final legislative approval within the coming days. as this process been fast enough? has there been a sense of urgency, or have all of that in the way? >> i would not want to judge the politics. but the $27 billion figure

imf. senator jim rich of idaho, this is what he told aljazeera. >> we all want to pass a bill to support the ukraine and the unfortunate thing they have done is brought into this a political issue, and that is the structure of the imf, which is an entirely separate issue. and they know this can't pass. >> he says that the issues should not be lumped together. another senator who voted against this moving forward is rand paul from kentucky. and he has concerns that any money sent to ukraine in loans will end up in the hands of the russians as a passthrough. here's where it gets sticky. the house republicans have passed a bill on their side relating it to the loan guarantee for the ukraine and they're not likely to go for the imf aspect of this. and here's the sticking point, it may get pushed back until later this month and congress has to hammer out what to do with this imf issue that has crept into things. >> meanwhile, another group of senators led by republican, john mccain, headed to u

it is down to the imf and all of the aid that the imf deals with en bloc from the european union offp the ukraine stave recession. >> i am looking forward to ryan six was of interview today. exclusive interview today. he will be speaking to a network company in russia later on. for his final thoughts, we talked a little bit about china. talk to me about the story on the emerging markets or possibly the frontier markets. >> i think there is a big difference between emerging markets and frontier markets. clearly, there has been the big emerging market, china, brazil, russia. beneficial of a big inflow for 10 years. and has moved markets changed landscapes. frontier markets are those where not much has happened. difficult markets, a liquid -- illiquid. launched whatly is going to be the first fund which invests in a frontier market on an alternative basis. there is a lot of dispersion between the good countries and the bag countries. the interesting way to go in is not with a directional view on the market as a whole. that would probably go nowhere. approach, where you can go long on ma

spoke yesterday about those imf negotiations. he's hoping of a shore up of finances within a few days. it's certain to say the situation in this country is every bit as dire as the geopolitical situation. possibly worse after decades of on cronyism, mismanagement of the country. let it be said the recent experience with the present yanukovych in 2010, on 2008 and 2010 the imf had to freeze loan packages to these country because terms were not being met. haven't got a great record of dealing with the imf. so we have huge problems on that front, as well. the other points away, of course, very important is any future deals with this country has to have some form of russian involvement economically. ukraine as as big a trading partner as russia. you can't negate overnight the pipelines that go through this country to the west, and that is my final hit in this west, the fact is, what kind of sanctions can the eu put together when a third of their gas comes from russia? i'll leave that question back to you. >> some breaking news this m

the loan guarantee plus the imf reform and i salute that.think that was important and the hope that the house will come to an understanding of how important the reforms are. so, it is $600 million either way, and diplomacy and the economic cooperation that we have with ukraine and their leadership gives them leverage in their conversations should they take place. so the current would only be able to do a billion dollars which is a huge amount of money but imagine the difference of a billion at a time when economic issues are being able to meet the needs of the people. imagine what putin would say to the russians if the economy didn't have its best shot. so we have passed our bill and we are very proud of that on the loan guaranty. on the ominous bill and in the actions we have taken we don't have the imf. but i believe the evidence of why this makes a big difference are the countries that we really want to help and that hopefully this discussion will lead to passing the reform. >> [inaudible] >> i don't know. the senate hasn't acted. it depe

the imf also provided funding and an on the seventh scale. i want also on. the and they've seen the torrens title. got. it is sells. steve. the u. when will we will. they are all on my way up. his voice. you will know what will . i was the eye

the imf expects to try to catch a lifelong prices to new levels. into trailblazers in the ends together for the first time he poked him. serious allegations against turkey's leaders at this hour according to come to life apparently a senior government military and spy officials discussing plans to stage an armed clash in syria as a pretext for an intervention. this conversation appeared on youtube also goes into staging a missile attack that would serve as grounds for attack. authorities have blocked access to youtube in response. still looking and walking twitter as well as by the court were to be open access. both platforms have been used recently to spend on new recordings including prime minister bridget time in a one in corruption allegations. anyone is going to youtube and twitter to be banned as a matter of national security. the band's sparked international condemnation. dr congo's go straight down to our correspondent doran jones he joins us now live in a line from istanbul door and these are incredible revelations have they been verified

they do not believe that the imf should meddle in the ukraine.ution. >> i do not think that i have to. it is an institution of 100 88 countries, representing a broad international community, representing the consensus of the international community, setting the rules of the game for international, financial, and monetary relations. it does not need defense. >> speak to the u.s. taxpayer. the imf has funds, they have always been a bit short on the budget, to be polite about it. will the u.s. have to come to the rescue of the ukraine with a cover for the international monetary fund? >> first and foremost, the issue has aaine, a country that fairly large population, 45 million, low per capita income, but a bright future if they could get their economy in order, the first order of business is to set policies right. they need a competitive exchange rate, abandoned a virtually crazy economic energy subsidy program that results in a very large budget deficit and results in a very large balance of payments deficit. these have to be fixed. they are fixabl

working with the imf to support ukraine? >> both. there has to be u.s. assistance but some involvement of the imf, it is not either or. >> what assistance would you like to see from the u.s. directly to the ukraine? there has to be some military assistance, we have to be careful about that. is looking for an excuse and i do not think we should give him that. we need to be absolutely firm that there is an important principle here. ukraine is now struggling to make sure it can maintain its freedom. there have to make sure is no further incursion by russia. we have to make steps to make sure that does not happen. [indiscernible] the principle here. >> the administration discussing economic sanctions, what would be your bread line to issue them? >> i am not sure we need to talk about red lines, we have to make not cross thees line. i am in favor of considering further sanctions. has to mr. putin understand that there is unity, there is firmness led by our president and the europeans. we need to make very clear what our position is and we were very upset, mor

stall the imf said it's ready to respond to his new list requests for assistance the us and eu also set to contribute and into the moniker from the imf to accelerate the cash flow what means we now and it's really time in as many men netanyahu is in washington and he said to address the pro israel lobbying group at a packed seconds after he stepped out of iraq obama on monday. the us president made a rare direct foray into the israeli palestinian peace negotiations are urging israel to see that its security would be enhanced by piece with its neighbors hopkins hospital this will mean that we'll use the rhine for the last president hiked up the pressure saying it would be harder to protect israel. if peace efforts with the palestinians failed to meet him face to face he and tend to make the decisions needed to salvage the peace process. the title. they are mr will make those decisions based on his head. it grows short. neon he didn't give in and saying it was the palestinians to declare that we grow and grow. i'll prove it. we live hundreds of prisoners included. woohoo for. to say t

reforming imf quotas is a big step toward that gap. the imf, i believe, is absolutely vital to our national security. this is critical to our strength around the world and to our national security. the imf is also central to provide economic policy and support to u.s. allies and governments whose failure would jeopardize the united states national security interests and preventing financial crises makes for more capable partners in the fight against terrorism and the protection of human rights overall. and, again, just what we will not be giving up, we would not be giving up our veto power over the imf decisions which provides us with a great deal of influence. implementation of the 2010 reforms and our leadership position without increasing our financial commitment of the imf and failure to pass imf reform legislation more than three years after we helped design the reforms is undermining our international credibility. and so with that, mr. chairman, i yield back the balance of my time. >> i thank the gentleman for yielding. i do appr

the imf also provide funding and an unprecedented scale also on the web. and they've seen the torrens title i mean does it get in touch for a russian scholar at the kindle but that's it the most prominent independent and well known russian newspaper in the west on. weeks. we just get famous by it. the stark responded that what i can see me in the acting was good and bad ah so to say that killed my organization uses paper. it implies most men than the one in my country to know what the toasters. when you stay forever. not a lot of people asking. the open casket at the question of my soul so many young people and what do you use paper and also the money of course when did they use in the cold to go up hot spots in their actions eye. indeed they say that the wii. it doesn't matter we live in your chest as he doesn't update the ol' still just seemed to know but is it that because they felt that its right place to wear it tool but i placed two. she did it offers a journalist and a bit curious. in a baby's soul. given my country and get in and out to be curious.

contributions to the imf.he obama administration says it would increase the ability to give money to countries in crisis. republicans say it would diminish u.s. power when dealing with the imf. and we talked to senator from idaho about this. >> we all want to pass a bill that supports the ukraine, and imposes some type of discipline on the russians for what they have done. they brought into this a political issue, and that is the stricture of the imf, which is entirely separate issue. and they are putting this in as a poison pill. >> another senator with concerns is rand paul, republican from kentucky. he fears that it would ultimately end up in the hands of russia. senator mccain thinks that aid is so essential it needs to go there. so he voted to get this legislation moving forward. the senate is scheduled to go out on a recess in the next two weeks. it will be put on the back burners until late march. and the house has its own version that is just a billion dollars in loans to ukraine. speaker boehner is ca

and that would mean the imf moving ford might have to find a new boss. thanks so much well as we knew from the air from the parasol speaking of the french capital's gearing up for round one of its mean this is the elections this weekend that much of this tension has been focused on the mayoral race right here the committee has more the leader of the city over for two million people. her parents coulter powerful political position. this year to bring their blind to the role. runners socialist and need to go. j and outgoing and continuity. i sought to distance yourself from such this week has been postponed his rock bottom approval ratings. national discontent for tax levels. by the twelveth to twenty of rising taxes at the mine phase ten. because i think that the national price level is already high enough the eight households and to be submissive i left friday evening and it is his main campaign promises include building up to ten thousand new affordable homes after year. in the housing prices aren't too concerned the council also wants to extend the kid

the imf, wants more funding. the u.s. needs to give funding to the imf. the gop has thus far gone against that. now it looks like they're going to try to wrap ukrainian funding into the imf funding to make both of them move forward, and so that was a subtle message to the gop that if you want to help the ukrainians, which the vast majority, it's our understanding do, you have to go along with that as well. >> michelle, john, thank you. another thing of note there, he's calling for international monitors to be put on the ground throughout ukraine, including crimea, to ensure that all parties, ethnic russians, ukrainian as well, have their rights protected. all right. a big day for stocks. the s&p 500 hitting a new record high today. and we are up, up and away. let's take a look at the numbers, shall we? the s&p up 7 points at 1881, just 19 points away from 1900. dow jones industrial at 16,441, an 81 point gain and nasdaq back on pace up about 1/5 percent at 4365. 14-year high there on this day five years ago, or thereabouts, the stock market hit a bottom.

saying that republicans should really back this imf package. he's not alone, though, betty.rker as well as some more senators in the republican party supporting him on this. house speaker john boehner though says, you know, this is not something that the folks in his party want the imf funding should not be wrangled into this ukraine debate. it's going to be interesting to see how this plays out when the senate gets back from recess at the end of march and retakes up this issue. >> it was quite a tongue lashing nonetheless. but democrats want an apology from chairman issa following the microphone cutting incident that we've all been talking about. and there's talk he may have followed some rules. that may not be enough to make this go away. >> now what is interesting is representative issa did apologize to representative cummings. now whether or not that's going to be enough, republicans blocked a measure by democrats to sort of have a more formal apology. but republicans maintain that representative issa followed the rules. i think we're seeing a lot of politic going on ove