if he's and i with the brothers of italy party who are the past of italy's a neo fascist movement and here we send him a very right wing complection and it looks as though the new government is very likely to be a sovereign a sterner government and very likely to be at loggerheads with europe and that's been made clear already in where mr samini has said about his economic plans so really the italian system very much shaken up very much changed very much into the right philip wall and for us around philip thanks very much. salvini has been leading italy's backlash against migration across the mediterranean from north africa a new law threatens captains of rescue vessels with fines of up to 1000000 euros they enter a talian ports without permission some n.g.o.s though are still carrying out their operations the w's mock sonder flew aboard a spotter plane off the coast of libya. takeoff from an undisclosed location. for the german n.g.o.s c. watch is taking us on a reconnaissance flight over the mediterranean. muttiah and pilots have one main objective saving lives here 30 miles off the

outgoing prime minister went to see italy's esident. the decisi to call an early election now rests exclusively with the head of state. sophie: for more on italy'spo tical uncertainty, i spoke toeather conley, a former state department official who is now at the center for strategic and international studies.ti italian po in a mess, no surprise there. ntat happens next is in the hands of the presi heather: exactly. he will call forward all the leaders of the political parties to see i formed in the italian parliament, and if that is the case they will name a new prime minister. or the president could name a caretaker government, technocratic government to get them through the verynt impor decision they had to take on their budget this fall. but you are absolutely right, we saw extraordinary drama today. interior minister matteo salvini thought that this no-confidence vote would not be successful and we would go to immediateec elons, and the prime minister thwarted his efforts today. sophie: what do you think this means for the political

and italy where we're looking to see here in the u.k.tion lawmakers will come together and form a united front against what they dislike about boris johnson's plan at the moment so there's conte reinstated as prime minister of italy. let's push on, u.s. retailers are warning of price hikes as the trump administration officially imposes extra 5% retaliatory tariff on chuy niin imports. they'll begin collecting a 15% levey on the goods including television and foot ware the collection date for the remainder taxed at 15% including mobile phones and toys is set for december 15th. apple is one of the companies set to be hit the hardest by trump's tariffs against china. the supply chain data shows that few u.s. companies are as dependent on china as the tech giant. apple produces it's ipads, iphones across 40 chinese factories while half of its suppliers are also china based virtually all are among the goods facing a 15% tariff. meanwhile, steven mnuchin said he doesn't intend to intervene in currency markets at this time he also said the issu

so some problems, political problems in italy, might actually contribute toa in italy, might actuallyhich is already weak throughout europe. thank you very much. the chinese search giant baidu has seen its shares surge after its latest results beat expectations. sharanjit leyl is in our asia business hub in singapore with the details. the chinese internet company gave investors something to cheer about with unexpected growth in its video streaming service in the second quarter, this even though its net profit actually tumbled over 60% in the quarter. revenue only grew about 196 the quarter. revenue only grew about i% from the previous year. the fact that its bottom line was more than twice as much as forecast by a nalysts twice as much as forecast by analysts is the reason why its shares were surging as much as 9% in after—hours trade. its main search business, we know, is hurting, as is the ad business. the outlook for advertising is weak but the outlook for streaming services has managed to offset all of that by surpassing 100 million subscribers. there was also some evidence of gro

italy in turmoil. the prime minister steps down in a dramatic session of the senate, attacking his coalition partner matteo salvini. the u.s. secretary of state addresses the united nations and attacks iran for what he calls extortion diplomacy. plus, virgin galactic space tourism plans to take a giant leap closer to reality. we look inside the company's new spacort facility. soph: for those watching on pbs and around the globe, welcome to "world news america." italy's government has descended into chaos, with the prime minister announcing resignation in a confrontational session of the senate. giuseppe conte lashed out at his own interior minister, matteo salvini, for allegedly putting his personal and political ambitions above those of the nation. mr. conte has presided over an unea coalition since taking office just over a year ago. the bbc's james reynolds has more. james: if you come to bury, not to praise, the senate in rome is a perfect stage. italy's prime minister, giuseppe conte, aimed his da

could also have huge implications for the entire eurozone italy has the 3rd largest g.d.p. in the euro zone right off to france and germany but its debt to g.d.p. ratio of 132 percent is much higher than that of other major eurozone economies so what happens when the markets lose confidence in italy's ability to rein in its massive debt no banks across the e.u. own loads of italian debt with 286000000000 euros in frogs alone means these banks are exposed should italy default on its debt and just the possibility of such as an aria. it is enough to put those under pressure forcing them to set aside money and putting scrutiny on their bottom lines now then for more on that issue i am now joined by hold this meeting he's chief economist at bear bank bank in london hold this meeting good to have you with us obviously we're old enough to know that italian politics is known to be somewhat erratic and unstable is this what we're seeing now business as usual or a real crisis fortunately this is much more business than you are than a real crisis italy has trying to save governments f

which could potentially weaken italy's economy and status in the european union with more we're joined by r t's alex a hell of it in toronto al it's good to have you back italy's now former prime minister is saying demands for a fresh election from within his coalition are both selfish and irresponsible what do we know about this latest squabbling within this fractious coalition. well as you mentioned he's blaming everything on the table salvini who is an interior minister and also the leader of the league party now think that the league party used to be a separatist party and for the for northern italy to separate from the south and then they became all loving italian party but they are far right and they've joined forces with conti's party 5 star which is also seen there both seen as populist and euro skeptic now there are differences though obviously which of fracture these 2 parties immigration being one of the big things the league is anti immigration is not that kind of man and he hasn't signed off on keeping immigrants off the beaches and salvini was ticked off by this as well a

where the latest crisis is unfolding in italy as the nation's prime minister has announced his resignation argues alex mahela bichon joins us to give us a look at inside what could be unfolding in the euro zone you've got a poncho today so let's go and dive right in. the ongoing protest movement in hong kong on the prospect of intervention by the central government legal route report today as hong kong's chief executive says she can see a way out of the crisis which now seems headed for a collision with the trade in terror a fight with the united states 1st we go to hong kong for the latest with our 2 star who filed this report. weekend's mostly peaceful protests demonstrators are saying that they're not giving up on their 5 demand they fear their autonomy is shrinking earlier today hong kong's chief executive kerri lam spoke to the public about setting up a platform for dialogue with various sectors of society we will start immediately a platform for dialogue with people from all walks of life so this is something that we want to do. in a very sincere and humble manner i am my principal f

but in italy this time, is this idea that italy unleashes itself from the eu, is it gaining any tractionhink italy eu, is it gaining any traction there, at all? i think italy will be much more similar to greece. populists will do a lot of talking but ultimately they will to a certain extent comply. but the one thing that plays into italy's hands at the moment is the fact that global growth is weak everywhere and europe does give you leeway if there is recession, in terms of using fiscal priming. could we be talking about an italian rescue at some point in the future? don't forget that most of the italian debt is in the hands of italians, therefore it is them shooting themselves into the foot if they were to do an exit. thank you very much for sharing your thoughts today. let's take a look at some of the other stories making the news. the world's biggest miner — bhp — has more than doubled its net profit on the back of higher iron ore prices. the miner posted a profit of $8.3—billion for the year to the end ofjune. bhp says higher prices and record production helped to boost revenues. maj

italy's presidential palace is a busy place these days. negotiators for a new at tally and government left talks on tuesday with no clear signal as to whether they have reached a final agreement on who is going to be at the least next prime minister. the previous officeholder giuseppi content resigned his post last week bringing italy's populist government to a swift end after just 14 months in power. contact who says interior minister matteo savini of wanting to rule by himself. we don't need men with absolute power. but people with a strong sense of responsibility. be salvini the leader of italy's right wing likud party told senators he triggered the government crisis because he wanted to bring about snap elections. before they win why we'll do everything that i did all over again thank you. thank you. everything with a great strength of being a free man. it means i'm not afraid of being judged by the italian the. his supporters have been out in force chanting elections now elections now salving his bid for power comes amid high poll num

well salvini will say it's all about italy i am the guy who's the nationalist and i'm fighting for my country so this is what's happening here and this is why this coalition is split and our continent has resigned and as you mentioned immigration has been an area tend to within the coalition also economic issues have caused the leaders to butt heads so what does this sort of stalemate now mean for italy's already fragile economy. makes things worse obviously we're talking about it unstable government a government that's cracking at the seams which means that both the financial institutions of that country as well as government institutions are weakened at this point which is obviously not good for the economy now we're a lot of people are looking at this as a chance for an another election to be pushed that's what everybody thinks salvini wants but that's not a certainty we have a prime minister we have a president the president of italy can stop that from happening he can actually form a coalition with the democratic party that would be moving more center left and leave so totally ou

italy has a massive debt mountain, one of the busiest in the e.u. that's one of the biggest in the e.u. with 2.3 trillion euros, a 10 digit figure. it is worth more than 130% of its gdp. that is everything over the coururse of the year produced in the economy. after same time, economic growth has stagnated, unemployment in italy is high, particularly among young people. under 25.among so big economic challenges facing whoever comes into the job next. the other issue is in an economy with stagnated growth and with debt that high, borrowing costs could be a huge problem. any political turmoil could spook the markets, force investors to look for higher returns on their investments, and that could be a big problem for a country like italy that has so much debt. claire:: how did the markets react to the latest political crisis? stephen: we had a little bit of a wobble when the news of the snap elections started to emerge. otherwise, there was not much reaction to giuseppe conte's announcement on tuesday. we actually saw things fall. now it is at its lowe

this is news coming to you live from berlin it's decision time in italy parties must reach agreement today 2 for one duke opening coalition for the country will face a pressure election and poll say that would put western europe's 1st all right government in power also coming up. imagine your child without dying in front of your eyes and you can't do anything without a little girl you can't carry her away i can't describe what kind of feeling. a new russian backed offensive in the syrian province of live is causing death and destruction and forcing thousands of civilians to flee to an uncertain future. and we'll explain why this officer and others risk of becoming extinct because of among other things social media. hello i'm terry martin welcome to the program it's a make or break day in italian politics the country's president has told the main parties they must reach agreement today on forming a new governing coalition if they fail he will call new elections this after far right interior minister matteo so beany triggered the collapse of the government by withdrawing his support. i

vonnie: talk to us about italy.omenon where it looks like there was some hardball being played in italy to form a government. the ftse mib went down substantially, but btp did as well, and the yield back above 1% for the 10 year. cameron: it is not something i am following particularly closely on the day, but that would be consistent with the notion, the comfortable consensus they will form a nice new government and salvi need will be relegated to the sideline forevermore might not be the case. when btp's act as a risk instrument, i.e. they go down when risk appetite goes down, that tells you the political considerations are permeating throughout the market. maybe in retrospect it was a little naive to think they could ni fromcised salvi the equation and he would go quietly into the good night. you can see it in the u.k. the notion you are disenfranchising democratically elected politicians is not one that plays well with large swaths of the public. vonnie: cameron, thank you. he will be continuing to follow all of

earlier prosecutors ordered that the migrants be allowed entry to italy. staying with italy in the country has been damaging to uncertainty following the resignation of the prime minister just sepic on day and the collapse of the government conti has attacked the far right interior minister matteo salvini saying it provoked the crisis for political gain in a few hours the president of italy is due to sound political leaders to see if a new coalition can be formed or if the country will head for new elections. cheers and jeers for the italian prime minister as he arrived at the senate in rome for a crucial debate on the government's future. in a dramatic move he resigned from his post bringing italy's populist government to a swift end after just 14 months in power. accused interior minister vini of being the sole architect of the country's seemingly endless political crisis. you days are the reasons that lead me to call the decision to spark the government crisis extremely irresponsible but. i must say that the interior minister has shown he is acting out

they split in italy's populist ruling coalition has prompted the country's prime minister to step down giuseppe conti who held the position for just over a year is blaming his right wing interior minister matteo salvini for the political crisis which could potentially weaken italy's economy and status in the european union with more we're joined by our t's alex a hell of it in toronto al it's good to have you back italy's now former prime minister is saying demands for a fresh election from within his coalition are both selfish and irresponsible what do we know about this latest squabbling within this fractious coalition. as you mentioned he's blaming everything on the table salvini who is an interior minister and also the leader of the league party now think back to the lead party used to be a separatist party you for the for northern italy to separate from the south and then they became all loving italian party but they are far right and they've joined forces with contacts party 5 star which is also seen there both seen as populist and euro skeptic now there are differences though ob

italy is still just below 1%.absolute terms, that yield looks relatively low, but on a relative basis, you have a very widespread. if the country has a pro reform government like the one coming into place, then you have a chance for a virtuous circle. the other thing is bank bonds and corporate bonds, trading at 7%, 8% yield. there's are much more interesting, but you have to know what you're buying. if you think about the largest banks, the national champions like unicredit, santander, these are bonds that give you between 300 and 600 basis points, between 3% and 7% additional yield, depending on how down you go in the capital structure. obviously, the medium-sized and small banks will have a consolidation process. interest rates are going to stay low, but the large banks will probably survive and do well. vonnie: we have to leave it there, but thank you for your time today. our thanks to alberto gallo, algebris investments portfolio manager. this is bloomberg. ♪ ♪ vonnie: let's get a quick check on u.s. markets

for example italy for example where salvini has been introducing a. very heavy handed approach to migration to the point where he is paving the way for the right to extradite migrants and also revoke their italian citizenship isn't this something that was just going to continue and divide you well it's certainly a possibility but if you look at this spanish approach over the last 18 months there's no except for more migrants than has italy. and the number of total migrants has dropped from about 220000 of his peak in 2015 to 10000 so what we have available to us is a chance to consolidate resources movie your resources closer to where it's needed to deal with migrants and refugees and and help people really in need of help this isn't a gap here and out there that could be utilized to provide assistance to recognize common humanity rather than to demonize migrants. then rick but then when you have as the u.n. refugee and by was agencies are saying you have the number of people trying to cross to europe has dropped by 80 percent isn't this a car that co

this is t w news coming to you live from berlin it's decision time in italy parties must reach agreement today to form a new governing coalition for the country will face a fresh election and polls say that could put western europe's 1st far right government in power also coming up. imagine your child and dying in front of your eyes in the condo anything one of those you can't carry her away countess fraud what kind of feelings for. a new russian backed offensive in the syrian province of live is causing death and destruction and forcing thousands of civilians to flee to an uncertain future. plus he is a 102 years old and still teaching in the fool you'll meet. and find out why his life is still going so swimmingly at such an advanced. fellow i'm terry march and welcome to the program it's a make or break day in italian politics the country's president has told the main parties they must reach agreement today on forming a new governing coalition if they fail he will call new elections this after the porridge interior minister matteo salvini triggered the collapse of the government by wit

this is deja vu news live from berlin finding a way out of italy's political crisis the government is plunged into uncertainty one day after prime minister giuseppe condit resign we'll look at the options now facing it also coming up guilty as charged one of the most powerful figures in the catholic church australian cardinal george pell loses his appeal against a conviction for child abuse insists he's innocent what i'm concerned about is the people will try to use a result from that and from the reporter pose as an excuse to start another war. in northern ireland fears are growing of a return to the past as a no deal bracks it looms ever larger. i'm brian thomas thanks so much for joining us italy has been plunged into uncertainty following the resignation of prime minister just half a continent and the collapse of the government call to has attacked the far right interior minister material salvini saying he provoked the crisis for political gain now in just a few hours the president of italy is due to sound out political leaders to see if a new coalition is possible or. if the coun

finding a way out of italy's political crisis in the country starting to uncertainty one day after the final mr resign we look at the options now free from the country. and a warm welcome to you i'm a touchy british prime this is just boris johnson is coming to berlin to try and a speech. to reopen briggs's negotiations johnson is demanding the removal of the silk or backstop the policy previously agreed to by the u.k. and the e.u. team sure there'd be no hard border on the island of ireland johnson claims the backstop would violate british sovereignty but the existing just doesn't work for the u.k. parliament started out 3 times we can't have this backstop so i'm going to go to see our friends of bottling going off to germany and then to france and then to see the g 7 appearance and i'm going to make a point that the buck stops going to to come out. but you lead is it already rejected johnson's demands to reopen the bridge all agreement germany's medical said so far no one had come up with an alternative to the backstop as a way of preserving the northern ireland peace accord known as

italy. so eisenhower and marshall are adamantly opposed to this idea. what else can we do? let's promote eisenhower out of this position and let's promote him out of the stratosphere so we can put a brit in charge and make it a whole lot easier to get what we want and that didn't happen and let's put a deputy to help eisenhower who will actually take over everything and undermine everything that the americans are doing and well, that didn't work either, and it didn't help that the british were so frustrated that they gave a number of interviews to british newspapers arguing that, yeah, the americans didn't really do much in north africa. it was mostly a british campaign. you can understand, that didn't go well. that didn't sit well with their allies, the americans. of all of the calculated risks during world war ii nothing was bolder than the decision in 1943 to maintain the combat's army at 90 division and the 90 division is an important number and we'll keep coming back to that. early esti

we start with a deepening political crisis in italy. just a little while ago, giuseppe conti officially tendered his resignation as prime minister and accepted a caretaker role until the country conforming to government. his resignation cap's a dramatic day in which he lashed out at right wing interior minister matteo salvini o for toppling hs ruling coalition. salvini pulled his support for the coalition in a bid to force fresh elections. an opinion survey says a snap vote could see something become italy's next prime minister. >> cheers and jeers for the italian prime minister as he arrived for a crucial debate on the government's future. in a dramatic move, he resigned from his post, bringing italy's populace government to a swift in -- swift end. conti accused matteo salvini of being the sole architect of the seemingly in less -- seemingly endless crisis. >> these are the reasons that lead me to call the decision to call the decision to spark the government crisis extremely irresponsible. i must say that the interior minister has sh

let's talk about italy.begin today with the new president as he tries to work out if a new coalition can be formed. if not, they are looking at yet another general election. joining us from milan is the head of research at algebra's policy forum. what outcome do you rank as the highest probability? >> good morning. in my personal view, the highest probability would be on a reshuffle. a new government supported at the democratic party and the five-star movement which was one of two parties within this government. i don't anticipate this to be a political government in a strict sense. these are two parties that ideologically would not be able to provide a consistent and internally coherent platform for a government, but they would be united in the objective of avoiding the very sizable vat hike we would otherwise experience. your biggest probability is that a new government is formed. how would they deal with the budget and the crushing debt? so, if you look at 42020, wes right now, are looking at 1.5% of gdp.

do think it will spur growth in places like italy?ly's problems are nonmonetary in nature and i don't see what the central bank can do other than placate markets as we deal with uncertainty. nejra: and of course sparing italy from a downgrade. ofly's gdp growth forecast 0.4% in 2019. you say it has a growth problem. indicator,a key argentina's opposition grabs momentum ahead of october's presidential election by beating the ruling party by larger than expected margins. we will look at market invocations next. matt: while we are traveling, or while you are traveling to work, and into bloomberg radio on your mobile device or digital radio in the london area. this is bloomberg. ♪ ♪ from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $

but on the 2nd level by introducing reforms in italy which are increasing pay put them the number of people in irregular situations and also increasing destitution unnecessarily and that's leading to onward movement so serving a it was predictable that's. veni would do this this was part of the electoral program during the campaign last year at the same time other countries are not without faute for a long time italy has criticized the european rules which main there's a disproportionate responsibility for the countries at the border and the reason that this government was elected in italy is partly because of the perception that the rest of europe doesn't do enough to support the countries at the borders jonathan says something has to do with the election campaign that is going now in italy do you expect the crisis to some how fade away after the stop elections if those elections are to be held you know this this will not go away catherine is absolutely right the issue is about perception of refugees and migrants entering europe and particularly more homogeneous communities. the pol

by nato was subject to a tax rate of 6 percent in italy. this recently dropped to 5.5 percent. by aegis response. the ships of the fleet sail under the italian flag. it goes without saying that we not only comply with tax and fee or geisha ins in germany and italy but anywhere else we travel to in accordance with respective national legislation. we are driving engine for regional economies and also for maritime sites such as germany. similar to aida other cruise liners also enjoy tax concessions in their foreign home ports. this way they can legally reduce tax payments in germany. the corporations are aware of the environmental problems they say they are open to new technologies and marine fuels but the exhaust their dream ships them it remains nebulous because operators do not publish precise data. from told the. we've found that it's just as dirty as it was before as far as the particles are concerned so far we've seen no significant improvement in ultra fine particles . it seems that for now it will be left up to shipping companies whether they want to consider health risks

let's stick with italy.an bond yields can go even lower. >> we are long the italian market relative to germany. we have more spread now than a month ago, so it's an attractive opportunity. italy is something you have to look at tactically. you know it trades in a range. we are now in the top end of that range. we think it's a buying opportunity as a result. jonathan: let's have that conversation. james athey, greg staples, priya misra still with me. is that a trade you can get behind? james: how did i know you're going to come to me on that one? i struggle. i appreciate and to some degree agree with the bullish arguments with respect to btp's, i just cannot help seeing the potholes in the road ahead. it is a very tricky situation in -- that italy has to do with, economically, socially, politically, and as a part of this monetary union which is starting to exhibit some stresses which concern me. the ecb is ready to come in and take away all the credit risks they see in the system. but if you look where btp's

finding a way out of italy's political crisis the country is plunged into uncertainty one day after the prime minister resigns we take a look at the options now facing the country. i don't know of a will make until i'm under. british prime minister boris johnson is coming to berlin to try and persuade back to reopen bragg's if they go see asians johnson is demanding the removal of the so-called backstop the policy previously agreed by the u.k. and the e.u. to ensure there be no hard. border on the island of ireland johnson claims the backstop would violate british sovereignty existing or just doesn't work for the u.k. parliament started out 3 times we can't have this backstop so i'm going to go to france. germany and then to france and then see the g 7 appear it's not going to make the point that the buck stops going to come out but it is have already rejected johnson's demands to reopen the bridge or liveryman germany's machall sent so far no one had come up with an alternative to the backstop as a way of preserving the northern ireland peace accord known as the good friday agreement t

for example italy for example where salvini has been introducing. very heavy handed approach to migration to the point where he is paving the way for the right to extradite migrants and also revoke their italian citizenship isn't this something that was just going to continue and divide you well it's certainly a possibility but if you look at this spanish approach over the last 18 months there's no except for more migrants than has italy. and the number of total migrants has dropped from about 220000 of his peak in 2015 to 10000 so what we have available to us is a chance to consolidate resources movie your resources closer to where it's needed to deal with migrants and refugees and and help people really in need of help this isn't a gap here and out there that could be utilized to provide assistance to recognize common humanity rather than to demonize migrants. then rick but then when you have as the u.n. refugee and by was agencies are saying you have the number of people trying to cross to europe has dropped by 80 percent isn't this a car that co

also coming up italy said it's decision time in italy parties must reach an agreement to form a new coalition government or the country will face fresh elections and polls say that is likely to put western europe's 1st far right government in power. and will explain why this author and other entities are at risk of becoming extinct partly because of social media. this is d.w. news i'm sumi so misconduct british prime minister boris johnson says his government to suspending parliament until just 2 weeks before brags that the suspension would give lawmakers less time than expected to debate britain's exit from the european union on october 31st now johnson has denied criticism that he was trying to prevent a debate as he said parliament would be back in session ahead of a key summit. that is completely true if you look at what we're doing we're bringing forward a new program croyle hospitals and making sure that we have the education funding that we need and there will be time but it's crucial october the 17th. important. to debate. and the other issues let's go right to do. standing by for us

now to italy where the senate will convene today for a special session to figure out its next steps in the country's political crisis lawmakers will attempt to set a date for a motion of no confidence in the populace coalition government suite the leader of the far right league party interior minister matteo salvini call for stuff elections in a bid to lead the new government. tourists got a special tour of italy senate building on monday because inside the country's future was under discussion snap elections no decision yet vice premier luigi dimaio called ending the coalition you're responsible for. me and his party decided to cancel the coalition and run away from the problems facing italians which must be resolved backroom talks all day on finding a way forward being his former coalition partners the 5 star movement opposed to the elections the democratic party is split ones at sea in the east so from my. want to avoid elections turning this government crisis into an economic emergency that could possibly even force italy out of the e.u. . almost 3 fourths. idea of a caretaker gove

let's go to sicily followed by an invasion of italy. eisenhower and marshall are adamantly opposed to this idea so what else can we do? let's promote him into the stratosphere so we can put a-- in charge and make it easier to get what we want. and then it was let's put a deputy to help eisenhower and who will actually take over everything and undermine everything the americans are doing. that didn't work either. it didn't help that the british were so frustrated that they gave a number of interviews to british newspapers arguing the americans didn't really do much in north africa. it was mostly a dish campaign. as you can understand it didn't sit well with their allies the americans. of all the calculated risks taken in world war ii none was bolder than the decision in 1943 to maintain the army's combat strength at 90 divisions. 90 is kind of an important number and we will come back to that. early estimates of-- to win the war were high. they anticipated they would need somewhere in the neighborhood of 215 divisions which would take as

i became the youngest prime minister in italy. i won the competition. the problem is in italy, i think the necessity to invest in a new direction for the future of this country. unfortunately i lost the referendum to change constitution because my idea was exactly to abide the system with the same traditional gains in policy my dreams were i will invest in a new model more similar to usa or to france with the winner election night and four years of stability. i lost in the referendum, 2016 wasn't a very goodyear to celebrate the referendum in italy as in the u.k. now we will see what could happen in italian politics but before to discuss about my party, about the latter in italy, everywhere there is discussion about the future of the left, my opinion is first we have to block salvini and his very dangerous idea ability relation with russia and about relation with anti-european parties and about hate speech against women and black man. then we will discuss about the division of my party please come back to home or beach with mojito and all the dancing. t

also coming up italy's far right interior minister mattel's celgene it hopes to push through a no confidence vote in the government so that he can win a snap election in italian lawmakers are to meet to set a date for the vote. and russia tries to tighten the screws on you too over the live streaming of recent posts in moscow demonstrators have been calling for free and fair elections to the city council. i'm sorry kelly welcome to the program tonight as china's show signs of losing patience with demonstrators in hong kong a senior u.s. official is calling on all sides to avoid violence saying that societies are best served when diverse political views are respected and can be freely and peacefully expressed the official spoke on condition of anonymity hong kong authorities shut down the airport earlier today as thousands of activists staged a sit in there the shutdown came as the chinese government signaled rising anger at the pro. test announcing some of the violent demonstrations as terrorism for the 1st time for. a huge occupation hong kong international shut down for most of the day i w

italy is almost too big to leave the eurozone. italy is almost too big to leave the eurozone.t should act as a sovereign. the ecb is also about to do qe in the next two weeks. they will start buying. widening, it is the widest spread. hedge,anese investor, fx italy is the only sovereign bond market that gives them anything more than jgb's. they will be buying. union no ratings action, we need the government to hang in. how many elections have we had in italy the last 10 years? we have to live with that political risk, but right now as we look for yield, as the ecb is coming in, we should be looking for that spread to compress. jonathan: let's talk about the ecb. the hawks lining up throughout the week. all pushing back not against rate cuts, but pushing back against the prospect of more qe. will their voices be heard next week? priya: i think they will be heard but i think the doves will outnumber them. if you look at what has happened since the last meeting, all the data has been worse. we just got inflation. it is hard to move that higher. inflation expectations have deceler

news live from berlin italy's prime minister resigns after his coalition government falls apart she said he conti says the blame for the crisis lies with interior minister material salvini who is trying to trigger an election and become the country's next prime minister. italian authorities and the standoff over the open arms rescue ship after desperate conditions leave more migrants to jump overboard prosecutors move to evacuate and seize the ship. britain's prime minister issues a fresh challenge to the european union over brics of course johnson calls the e.u. a bit negative and says the block has to scrap its current plan to avoid our border and our. i'm sumi so much going to thank you for joining us we start with a deepening political crisis in italy just a short while ago she said picante officially tendered his resignation as prime minister and accepted a caretaker role until the country can form a new government conscious resignation caps off a dramatic day in which he lashed out at rightwing interior minister matteo salvini for toppling the ruling coalition to force new election

look at italy. but fees and italy are falling five or 10% quarter on quarter.back to you? jonathan touched on the policy response we expect to see. what there is this debate about tearing -- tiering in terms of rates. what is the responsible reaction? >> you have got to assume there will be some sort of kerry. it is not clear how much of that banks will be forced to pass on and their wealthiest customers. more broadly, looking particularly at europe, there is overcapacity in the industry. that needs to be taken out. one way would be through consolidation, including cross-border consolidation. without a deepening of the banking union that we have, it is very difficult for that dealmaking to take place. banks cannot move around funds freely. from a policy standpoint, that needs to be addressed, as well as tackling those pockets of the industry that distort competition. for example, the lenders we have in germany. tackling those pockets of business would help. manus: i suppose it just depends on cross-border mergers. they he very much for joining. elisa, an opinio

matteo salvini is already italy's most influential politician.le image the way others work on their tans. 0n the beach near rome, we found italians ready to go and vote. "if we need yet another election," this holiday—maker tells me, "so be it." "it's all a mess," this man says, "but i hope there is a vote soon "and i'll be happy to go with matteo salvini again." and it is here at sea that the far right leader has won his support. matteo salvini has made it much harder for migrant rescue boats, including this spanish vessel, to dock in italy. this afternoon, some migrants, tired of waiting off the coast of lampedusa, jumped overboard and tried to swim to shore. and this evening, here in rome, the outgoing prime minister went to see italy's president. the decision to call an early election now rests exclusively with the head of state. james reynolds, bbc news, rome. carrie lam has announced the immediate establishment for a path forward for dialogue. she also said hong kong's police watchdog has set up hong kong's police watchdog has set upa task

signaled its rising anger at the protest announcing some of them as quote terrorism also coming up italy's far right interior minister but they also give the coach to push through a no confidence vote in the government so we can win a snap election i tell you lawmakers are expected to meet to set a date for the vote plus the death toll jumps in southern and western india after heavy monsoon rains and mudslides almost 200 are feared dead and hundreds of thousands have been displaced and a russia tries to tighten the screws on you tube over the last streaming of recent protests in moscow the demonstrators have been calling for free and fair elections to the city council. on leyla hauraki welcome to our viewers on p.b.s. in the united states and to our other viewers around the world. tonight says china shows signs of losing patience with demonstrators in hong kong a senior u.s. official has called on all. all sides to avoid violence saying societies are best served when diverse political views are respected and can be freely and peacefully expressed while the official spoke on conditions on c

news live from berlin finding a way out of italy's political crisis the government is plunged into on certainty one day after prime minister giuseppe conti resigned look at the options now facing it also coming up. guilty as charged one of the most powerful figures in the catholic church australian cardinal george pell loses his appeal against the conviction for child abuse we'll have the latest from sydney. what i'm concerned of it is that people will try to use early votes from bracket. from the reporter pose as an excuse to start another war in northern ireland fears of a return to the past as the no deal brags that looms ever large. brian thomas thanks so much for joining us italy's president will begin talks with political leaders today to find a way out of a growing government crisis the country has been plunged into uncertainty after the resignation of prime minister giuseppe conti well looking at what lies ahead for the country as do we in our next report. god she is and she is for the it's honey and prime minister as he arrived at the senate in rome for a crucial debate on th

a spanish naval vessel is on its way to italy it is offering to take some of the migrants to spain. and u.s. president donald trump has canceled a state visit to denmark because the danish prime minister refuses to talk about selling green under to the us describing the proposal as absurd agreement is an autonomous territory and belongs to denmark it's the biggest in the world is the biggest island in the world and its government has said it's not for sale cancelled by a tweet all the plans were in place in copenhagen for a state visit by the u.s. president but then donald trump announced on twitter he's not coming after all denmark is a very special country with incredible people he tweeted but at the danish prime minister doesn't want to discuss selling greenland to him than the visits canceled . it is with regret surprise that i received the news that the president has canceled his visit to denmark the 2nd and 3rd. i have been looking forward to this it. does not change the capture of our good relations and we will of course from denmark continue. with the us on how we can develo

troops or italy as well as the u.k. there neither have quite as many as germany else sign of your japan who's the most american troops of any country except the united states at the moment poland we know troops favorite european country he said it has no permanent u.s. military base our reporter for being funded more went to rome star and the biggest u.s. base here in germany where most locals want the americans to stay put. a key american outpost in southwestern germany. ramstein airbase the biggest u.s. air force base abroad. just what takes place there is kept secret even 70 years after the base was founded. it is impossible to get any closer to the air base the enter the compound is a high security zone and we certainly weren't allowed to enter the base itself with a camera team instead the u.s. military gave us some of their own video footage from inside. the u.s. military shows how munitions and weapons are stored supplies for fighters in syria mali or afghanistan. paratroopers practice jumping fighter pilots set

situation for the wider euro zone, given the size of italy's economy.euro zone and the fourth biggest in europe. any uncertainty and any growth in uncertainty and any growth in uncertainty around a situation wouldn't help because it comes at a time when the european economy is slowing, it is notjust italy facing challenges on growth. germany is not doing much better and anything that impacts consumer and business confidence in that respect would not be welcome. is that very bad news for italian assets and european assets? not necessarily, given that all of this is happening at a time when the european central bank has already hinted at more quantitative easing, more stimulus coming in september. what do you think about when you look at the two parties involved in these negotiations, how close are they in terms of their ideas and their policies when it comes to agreeing a budget and spending plans and achieving the kind of savings that are necessary to keep italy's budget within the eu spending rules? not very close. these are parties that have been argu