scale bailouts cost prohibitive it also reinforced buddhist dad veto power over activation and jose manuel barroso in his state of the union speech called for deeper integration in europe but in reaction we feel it was nigel farage that put it best but you make it clear that the asian state should continue to exist it mustn't have any democratic. yet the euro responded positively another example of this. and that example would be markets responding to policymakers not fundamentals where down left is right and the world resembles more of a wonderland then ality while earlier today for some reality i talked to godfrey blue member of the european parliament in u.k. independence party member first i asked about the e.s.m. ruling which he thinks was more driven by politics than the law. well i think one of the problems we have this came as no surprise to us or an important of the german constitutional court would come to this view because there's been an awful lot of overturning of countries constitutions my own country as being one is quite legal membership of the european union under our own constitu

and consolidation and jose manuel barroso state of the union address in his prepared remarks he stated we will need to move towards a federation of nation states and he also said in this age of globalization food sovereignty means more power not less how do you interpret this statement as it implying that somehow because the world is becoming more integrated super states take over the role once reserved for the nation state. well it's very frightening isn't it what he was saying and he came out with a phrase which we thought was absolutely fabulous which was extreme populism i'm not quite sure what extreme populism means but i would argue that that's called democracy to you and i and he goes that extreme populism we all feel that was highly amusing but of course what you also have to understand that there is in the history of democracy that an american or an englishman would understand in this place. you know democracy in america there for example there where you are emotions and goes back several hundred years now it goes back something like eight hundred as we understand it now it's

jose manuel barroso is also outlining plans for an integrated banking union for all eurozone countriesbe seen. take a listen. >> the single supervisory mechanism will create -- and the proper banking authority which will restore confidence in the supervision of the banks in your area. it will be a supervision for all banks. supervision must be able to look everywhere, because systemic leaks can be anywhere. of course, which th is a system that fully engages the national supervisors. >> julia chatterly is following the story for us. she joins us from strasburg. were there any big surprises in his remarks? >> reporter: no, i don't think there was. he did mention the idea of getting a blueprint for fiscal union, political unions. so i do think not unsurprising, but it is quite early for him to be talking about that, particularly when we're talking about the supervision of eurozone banks. countries like germany suggesting that they don't want all the 6,000 eurozone banks. so perhaps not surprising, but a little early perhaps. but the details that i've seen, it is pretty much as expected an

commission president jose manuel barroso outlined his plans of escaping the clutches of the crisis the euro is not shared by all across the region with critics in the u.k. pointing out europe isn't even london's biggest trade partner anymore. reports. third the race and states and the her political integration that's what the president of the european commission. has called for to pull member states out of the euro crisis nights and well the cools for the member states to hand more power to europe has really ruffled some feathers here at westminster and has caused anger amongst us skeptics who say that less europe and not more is the answer now is evidence of that your skeptics point to figures that have been released for the first time since one thousand nine hundred seventy person is exporting more kids to the country than it is to countries inside the e.u. and in recent questionnaire that was given to two thousand businesses conducted by the chamber of commerce eighty five percent of those businesses didn't want further integration with the e.u. although only twelve percent question

italian prime minister mario monti a month to use meeting with the european commission president jose manuel barroso in in rome and the german chancellor angela merkel is in madrid for a summit with the spanish leader matter you're not a whole so a lot more talking your head there is still a little sign of a solution coming out of it right now let's get some more details on this now and speak to financial adviser and wealth manager marco pierre will be joining us live here on r.t. good to see you today thanks for coming on obvious certainly would seem that a lot of the e.u. leaders are having meetings all around the same time some would call that a bit suspicious any coincidences that you think. oh they've been having meetings for years but they continue to refuse to to actually deal with the fundamental problems which is the imbalances within europe far too much debt slowing economic growth and these these issues are not being on the table either you have a full fiscal integration you need to split up. either of those are still not on the table but we continue to see we continue see these calls for

meeting italian prime minister mario monti monti is now meeting the european commission president jose manuel barroso in rome and the german chancellor angela merkel is in madrid for a summit with the spanish leader money on iraq oil shocks a pair of french economists believes that the e.c.b. his plan to buy up government bonds ignores the big picture and would achieve nothing. the european central bank will buy. the same time we resell private corporate bonds it's called civilization not to increase global liquidity on the market as a result effect of this strategy all to be short lived i don't expect this kind of anti christ plan to work more than three to four months he didn't address the main crisis of the eurozone crisis is not a crisis of the debt it's a competition to krises and by the way it's as a deep freeze of growth the collapse of growth we have in a lot of eurozone kountry and fawns that is not addressing the real crisis so far as the situation of greece but also of portugal spain and probably italy is going from bad to worse we have just listen in today as that. an employment rate in g

prime minister mario monti monti in turn is now meeting with the european commission president jose manuel barroso in rome and the german chancellor angela merkel is in madrid for a summit with the spanish leader there robert oulds the director of the bruges group which is against british involvement in a single european state believes governments poor decision making is pushing them further away from the people. the situation is getting increasingly worse the levels of many countries in the eurozone is increasing even the personal debt of germans is now up to incredibly high levels needs germany is in debt an average of around twenty five thousand euros and that's creating a great deal of strain on german economy as well when there are people worried there because people are desperately worried in italy greece spain where unemployment is continually why as you can becoming quite alarming and there's a number of plans being put forward particularly by the german government at the moment to have what's known as intergovernmental conference to set up a new treaty for the european union it's equally

the italian prime minister mario monti montes is meeting the european commission president jose manuel barroso in rome and the german chancellor angela merkel is in madrid for a summit with the spanish leader but her hoyo so a lot of more talking still ahead though still a little sign of a solution coming out of any of it right now let's now talk live to robert alter the director of the group which is a guest british involvement in a single european state good to see you today we are seeing a large number of top level meetings taking place there ultimately all at once and all on the same subject is this a sign the situation is getting worse we have the situation is getting increasingly worse the levels sold many countries in the eurozone is increasing even the personal debt of germans is now up to incredibly high levels needs germany is in debt an average of around twenty five thousand euros and that's creating a great deal of strain on german economy as well and if people want need there because people are desperately while waiting it's a league restrain where unemployment is continually wise

prime minister mario monti a monti is now meeting of the european commission president jose manuel manuel barroso in rome and the german chancellor angela merkel is in madrid for a summit with the spanish leader why for more on the subject let's cross live to our carlos deck or say sociologist pay you a university in boston. a pleasure to see you today thanks for coming on so how optimistic do you think the eurozone should be feeling about how the european central bank now buying debt. well that depends on what we consider the euro zone that we're talking about euro zone financial. probably a little bit of time or they have you know another round of really good. isn't that we're talking about european society you know regular regular equal i don't think they have any reason to be optimistic and they haven't had any reason to be optimistic. need to know a little bit more time or financial decisions because in you don't. extrapolate ing well from. there but i mean let's address the issue when you're there in spain let's address the issue as you were just alluding to that how do people feel for exam