. >> the incoming head of the european central bank, mario draghi, has signaled an intention to continue to buy troubled bonds. that comes to good news in financial crisis. he said central banks would maintain nonconventional methods to ensure stability in financial and monetary markets. the ecb has flooded the market support european bonds this summer with cash. >> sports news. preparations for the 2012 summer olympics in london have reached a milestone with completion of the 2012 dormitory room in the olympic village. athletes living at the village will have a close-up view of the entire olympic venue. it will provide housing for 17,000 competitors, and later 6000 paralympic competitors. when the games are over, it will be turned into condominiums. eu presidents and ministers are meeting in brussels, negotiating a comprehensive solution to the burgeoning debt crisis. leaders are ready to boost the eurozone bailout fund several times, and have agreed on a bank recapitalization plan that would force major banks to increase capital reserves, offering risky investments and helping them wit

even though they promised so cozy that if he supported mario draghi as the head of the e.c.b. that he could get one of his french buddies in there into one of these cushy civil servant jobs that get to dictate to the world what where our economic policies will be well currently now this guy binney smile you won't leave so anyway berlusconi ended up saying at a certain point i asked our cozy what should i do kill him. nice well you know i was reading the currency wars book by james our records and he makes a fantastic james g. records and he makes a fantastic point james g. records as i write yes i hear that the relationship between france and italy in the cross sovereign wealth gone. race to see who's the most vulnerable is between france and italy apparently france owns half a trillion in italian sovereign debt so as you see this on winding of the eurozone and others banks are collapsing in the eurozone because of their overextension by each other's debt and this huge ponzi scheme the siege d.z. chain of fraud that one relationship if that blows that's really the most spectac

one more thing also on tuesday, november 1st mario draghi takes over for jean claude trichet.er 3, draghi will chair his first european central bank meeting. then also on november 3, the annual g-20 meeting kicks off. this year it's in cannes, france. finally, on friday it's back to the u.s. the late of the jobs numbers will be up for the world's largest economy, nonforeign payrolls are expected to report a gain of about 100,000 jobs or so. if true, that will not be enough to dent the u.s. unemployment rate. it's forecast to stay the same at 9.1%. charles? >> ramy inocencio, thank you very much, joining us live from long congress. if you want to comment on what ramy has been saying, go to face.com. that's it for this ed dilgs of "world business today." more from andrew stevens. i'm charles hodson in london. the news continues at cnn, the world's news leader. -- captions by vitac -- www.vitac.com

and that's mario draghi -- sorry, i like to say that. head of the europe b central bank. and they're the folks in charge right now of whether greece and ireland and portugal go down or not. and so they're the folks in charge of whether we go down or not. if you want to know why we in in america aren't seeing a swifter economic recovery why we're mired in the stags-nation, europe's a big part of it. they're a big part of it, bigger than even ours. we do hundreds of billions of dollars of trade with them. our banks are interlinked. and just as our financial crisis collapsed their economies can if they have another economic crisis we're going to have one too. a few weeks ago goldman sachs was estimating that europe's problems would estimate a full percentage point off our economic growth next year. that's a lot. that is real bad. but now it's gotten worse. now they're estimating that they'll bring us, "to the edge of recession by early 2012." that is a lot worse. and if things in europe go even worse than, that that means they'll push us over the edge right into recession in