but i would sometimes we're going to hear this hijacking scenario where some technocrat like mario monti put a gun to the people said it's either give us all your money or we're going to take all your assets going to do it anyway so i want to form some kind of resistance against this global occupation by bankers you know the people have to stand up and realize that no one's going to help them but themselves they need to push out the kleptocrats of the the banking terrorists as i call them and stand up for themselves until they do something for themselves don't want to do anything for them or thank you very much there mexico economic expert and host of the consul report here thanks for talking to us. saving the euro is going to be the priority fully dissolve the euro zone's full biggest economies who are meeting in rome whether there's enough time to rescue the single currency is also the topic for debate with peta lavelle and his guests in cross talk coming your way to today . yes the ways are but there's a cost significant cost of attached to each way out so i think what europe is doing

all right so according to italian prime minister mario monti we have now a week to save the euro zone that came out in the headlines he said that to a group of european newspaper reporters this is ahead of the e.u. summit planned next week so is this a threat a warning it's hard to tell because it's become a bit of a boy who cried wolf refrain take a look at this last november there were ten days to save the euro we don't have those headlines but we got a bunch of them together ok in november there were ten days to save the euro or see it disintegrate in december of last year d s k domenic strauss kahn said there were three weeks left at one point in may there were only forty eight hours to save the euro according to one newspaper but i guess then george soros bought us a little time because early june remember he said we are just a few weeks into a three month deadline so when and how does the euro either persist or implode exactly well let's talk to gerald celente who specializes in telling it like it is he's founder of trends research institute publisher of the trends journal and h

this country but the world you mentioned europe a bit earlier as well the italian prime minister mario montias also said that there's not just a week left to save the euro say but do you see this you know wave of downgrades hurting the chances of that happening absolutely absolutely as far as the euro falling apart i think that that that will not happen i think we will see more mario monti's let's call him what he is he's a technocrat he was installed just like we saw inside of greece we will see the crisis escalate we will see fear and panic and i believe personally it is in geneva fear in panic in order to implement the agenda that they've talked about for a decade now global financial governance you need to have fear in order to take away people's sovereignty so briefly that should moody's have held off such a potentially damaging move given how volatile the financial mood is today. hard question to answer and you know because i'm looking at it from purely a perspective of collusion between these rating agencies and these too big to fail institutions i don't think there's any more chance

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europe and the doom and gloom we have one week left to save the entire euro zone statement from mario monti we at this point as a getting a little you know it was a historic election in greece two of them at the same time after some people breathed a sigh of relief after greece there were concerns about spain so it's kind of like we're back to ground zero right nothing has really changed so can we really take these these ultimatums these dates these deadlines into account the same way it's becoming a little boy who cried wolf isn't it looking back at the headlines because this came out you know one more week according to the italian prime minister who by the way is a technocrat one of those put in place to push through the e.u. desired reforms but looking back we've seen these headlines for as long as i can tell you know in november it was all the red monetary economic bureaucrat who was saying europe has ten days and then d.s. k. . in december was saying europe has three weeks and then in may there was a newspaper headline forty eight hours and george soros to give a little more credit in

mario monti made the mistake saying we got to save the eurozone.is slip up. >> this is where we stand right now. bund yields are low, 1.15%. italian yield, spanish yields over 7%. recession worse than we thought for the third quarter and year on year basis for third quarter. the focus will be on italy yields above 6%. auctioning up to 5.5 billion of five and ten year btps. five year trading at 6% as well. a lot of stress to emanate in the shoernt. maybe three year italian yield up over 5%. though we quote the benchmark 10 year much more stress in the short end which is rather concerning as well for the italian government. just remind you as well where we stand in the currency markets. euro/dollar on their three week loss. dollar up across the board against other things. yen benefiting the most. aussie back down, sterling dollar steady. euro/sterling is below 80 this morning and we heard some said it may sustain a move below 80. >> angela merkel says she has no illusions that the eyes of the world will be on germany as eu leaders meet today for a cr

mario monti hailed it as an achievement. >> translator: countries that would like to take advantage of this stabilizing intervention should ask for it. if they stick to the existing requirements they won't have to be subject to a specific program. they will have to sign a memorandum of understanding and won't be monitored by a troika commission. >> leaders also agreed on the creation of a single supervisory body. brussels said more concrete proposals will be unveiled shortly. >> we'll see what more comes out of that. undoubtedly the market reaction pretty clear this morning. you can see down here about 16 stocks in negative territory. heavyweighted to the upside. just to show you those main headline indices. we got the dax up 2.5, the cac up 2.5, the ibex up almost 3%. french banks all up around 5.5% as well as deutsche up near 4%. what's that done to bond yields? at the end of the day it's about getting bond yields lower. in spain yesterday we went through 7%. we are back down this morning, 6.5%. many people will say that's still unsustainable. we'll have to see the proof of this summ

invited the leaders of the four largest economies in the eurozone -- the italian prime minister, mario monti, wanted this government meeting to set the stage for a meeting next week. he wanted to reassure the markets. >> we all need it. it is a great project that has been successful until now. the hero is irreversible. >> the leaders agreed to a growth package, 130 billion euros. a package pushed by the french president francois blonde. -- francois hollande. >> who would have thought even a week ago growth would be on the agenda? >> the four leaders also supported a tax on financial transactions, but the leaders of france, spain, and italy wanted more progress towards ideas of a banking union and the german chancellor resisted wider commitments. >> accountability and oversight go hand-in-hand. not just for me, but for all the taxpayers of europe. >> the rather awkward departure is perhaps best summed up. yes, the leaders agreed on a financial transactions tax and a growth package, but the big questions are what would happen if spain or italy really got into trouble? those issues have been le

leaders to create a united front that could force a consensus in the union into these prime minister mario monti on that if the summit fails sovereign borrowing costs in europe will continue to rise and weak economies will face increased pressure. protests by a bolivian a police demanding better pay have spread throughout the country four thousand officers taking over the barracks the unrest began on thursday when around thirty police and their wives seized the headquarters the presidential palace in two thousand and three a revolt over wages in the same place where the current protests started that a gunfight with soldiers which killed nineteen people. it seems that no matter what country you live in the amount you earn is always a top priority what is western to ask the people in new york how much it would take to make them feel happy if it's ever possible to be completely satisfied with their salary. how much of an annual salary would make you feel successful this week let's talk about that thirty first one euro per year that would be enough for you i think it would be good seventy five thous

french president francois hollande visited rome thursday and held talks with prime minister mario monti. he expressed his hope greece would respect its promise of financial reconstruction and stay in the eurozone. hollande proposed a french version of measures to resolve the debt crisis to european council president her man von rompuy, they include being economic growth and finances and deepening unity by harmonizing fiscal policies. people around the world will be standing by sunday for updates on the outcome of greece's vote, politicians, economists and investors. ai awe chie da joiuchida joins site of the story. >> they'll be by their phones, preparing to hold an emergency teleconference immediately following the results of the greek re-election. european diplomatic source says the talk will be held at around 10:00 p.m. greek time when they find out which party won. the source adds the teleconference has yet to be finalized as it would be needed only if the radical left coalition party wins a majority. if the leftist party triumphs it's possible greece may exit from the eurozone, tha

with twisting merkel's arm into accepting the bank bailout program is the italian prime minister mario monti but at home for him there's a seismic political shift going on with the old elite feeding the public backlash against the sturdy and even comedians are proving successful alternatives to the current leadership. has more. on that italy's economic situation it's no laughing matter so it might come as some surprise that it's full of a t.v. comedian that paid. the latest character to still italy's political spotlight almost as a year in crisis continue voters have become increasingly disillusioned with mainstream politics and a radical a populist breed and grassroots movements such as youth organization the right have been growing in polls and popularity that they grew low and his five star movement now thrive online shunning traditional media and gaining huge respect with its younger generation something that technocrat premier nary a monkey to say far failed to do they're always bringing about young people but young people are not really represented in the stone thing goes off people in

italian prime minister mario monti denies that, but he is calling on europe to do more to boost growth. >> if measures are instigated to promote growth, the financial markets will see that italy is financially sustainable. it will pay less interest. taxes will go down, and businesses will have an easier time and will not be penalized for investing. >> but despite italy's reform efforts, investors are growing increasingly nervous. the country managed to borrow 6.5 billion euros on wednesday, but it had to pay sharply increased interest rates. the european commission repeated calls for greater economic integration. residents said governments needed to take more action and called for integrated banking supervision. >> we advocate further integration. it is now evident that this is indispensable for the sustainability of our common currency. >> he said some states did not understand the degree of urgency. >> all of germany's did scream in ecstasy, so let's bring you up on the news -- it is now 1-0 against the netherlands. we will keep you updated as we continue the show. german shares mana

i lent him pause non striker mario monti helping himself to embrace the first inside just three minutes and ledgers equaliser nineteen minutes and give the most of our support hope to quite goals either side of the break killed the contest. so one intriguing look to the group see table for the opening round of fixtures still only two teams can qualify of course but it's christian who are in the driving seat thursday's next round of game sees italy take on the leaders of spain the irish meet and get to. know the first round of group marches conclude on monday with the focus on group d. the heavyweight class to train france and england kicks things off in donetsk before attention turns to kiev on the co-host first game skate partridge report. after poland's got the euro two thousand and twelve ball rolling in warsaw with a dramatic one one draw against greece it's now the turn of co-hosts ukraine to showcase that talents in their capital against sweden in the second group d. match on monday ukraine only played their first match as an independent nation in one thousand nine hundred ninety

. >> mario monti is being seen as the big winner of the night, along with his spanish counterpart marianooy. they won big concessions from germany to help bring down borrowing costs. >> it will make it easier for them to tap into europe's rescue fund and enable the fund to shore up banks directly. >> that will be key to helping spain avoid being dragged down by teetering banks. >> after grueling negotiations, european leaders have a deal in place, and it is being hailed as a historical breakthrough. the agreement means italy and spain, groaning under unsustainable borrowing costs, will now have easier access to rescue fund money. >> the euro in the european project to the big winners of this summit. >> german chancellor angela merkel also emerged satisfied, insisting she had not softened her stance. she says there was no need for additional instruments and controls and conditions remain in place. >> the high interest payments are not just a burden on government bonds but also for business. >> so there was an interest to find solutions. i saw my task is making sure those solutions comply w

the italian prime minister, mario monti, said he would not leave the summit without a deal, he would block other discussions. finally, angela merkel agreed to be more flexible about bailouts and to accept direct help for the banks. >> italy has worked a lot and put a lot of pressure at the negotiating table for this result to be achieved. >> what was in the deal? the bailout fund will be able to help banks directly rather than going the government and increasing their debt, but only after a powerful banking supervisor is in place an extra flexibility for the bailout fund to buy government bonds and so force down borrowing costs. the spanish had big smiles, and the italian prime minister claimed double satisfaction, his country having beaten germany at the football. in the future, italy would be able to access bailout funds without tough austerity conditions. back home, some say chancellor merkel had suffered a painful defeat. she said she had been able to make concessions because she had one tighter controls over the banks. >> when you have a meeting late into the night, there is a c

hope to create a united front that could force a consensus in the union italy's prime minister mario monti warned that if the summit fails sovereign borrowing costs in europe will continue to rise and weaker economies we face it you will. be. now to that eternal question what is the price of happiness with the global economy in turmoil it seems that for many of us financial security is the number one priority right from the heart of the big apple the resident tries to find out now just how much money people there need to be happy. how much of an annual salary would make you feel successful this week let's talk about that first you farai. a euro per year that would be enough for you i think it would be good seventy five thousand here on a grand hundred grand it's forty thousand dollars some preserve the fun really serves five with forty thousand dollars around a bit a hundred fifty thousand per couple that would make you feel like that's what i would say probably. two hundred thousand dollars that's a lot yeah for this why do people want so much money can it in the united states we think ab

particular why you got employment now cost you my advice last year and you had taken a prime minister mario monti coming and he was a major banks the country's finances but then some economic medicine that he perspired has really engaged the italians here you can just see the large number of people that it's to this march today the year is instead largest economy has seen this current course absolutely saw and the impact that that had of people's lives is very significant of course this isn't something we see this year in stone building for a long time you call greece ireland portugal spain spain which is just recently had a bailout the souls and a lot of people think it's going to be following in the first that some of the other countries had a full state bailout in recent times remember just a couple of years ago i even love that you mention the possibility about the year ending about the end of the year and saying well just a couple of years on and those same people and now very realistically discussing the possibility of the disintegration and the break up of the year is the question that eve

china in the pm mario monti joined forces with his spanish and french counterparts during the latest e.u. summit in brussels to get significant concessions from marco but at home for him as a seismic political shift going on with the old elite old italy's rather feeling the public backlash against austerity and even comedians are proving successful alternatives to the current leadership. reports that italy's economic situation is no laughing matter so it might come as some surprise that it's full of a t.v. comedian that. is the latest character to still italy's political spotlight how much does the euro crisis continue voters have become increasingly disillusioned with mainstream politics and a radical a populist greed and was waiting movements such as youth organization here in rome to have been growing in force and popularity that take willow and his five star movement now thrive on ly shunning traditional media and gaining huge respect with its younger generation something that technocrat premier nary a monkey has a far failed to do they're all whispering about young people but yo

hope to create a united front to that could force a consensus in the union italy's prime minister mario monti warned that if the summit fails sovereign borrowing costs in europe will continue to rise and weaker economies will face in. the meeting in rome came as moody's rating agency downgrades fifteen of the world's biggest banks in america and europe later this hour you can watch max kaiser and stacy herbert sparing no feelings while giving us their opinion of the banks here's a brief idea of what you can expect in banking circles is called a ponzi scheme in nature we call it cancer cancer is a it invades the body it's a you know it starts to eat the body it is evermore the body to support itself the crowds out all the functioning aspects of the body and it kills the body kills the host same thing with these bankers around the world they're a cancer and they're pushing our legitimate businesses and the result will be a cancer ridden economic corpse from which a new economy must be born. now that eternal question what is the price of happiness with the global economy in turmoil it seems that

italy has been and the eye of a euro zone storm for weeks now and while prime minister mario monti may have returned from the e.u. summit as a winner he's facing tough times at home italians are becoming increasingly angry about the government's austerity push when alternative political forces gaining popularity as a teaser for us now reports some people seemingly would rather trust a comic and their prime minister. on that it's least economic situation it's no laughing matter so it might come as some surprise that it's full of a t.v. comedian that take a piece of the latest character to still italy's political spotlight almost as the euro crisis continue voters have become increasingly disillusioned with mainstream politics in a radical apocalypse bridge and grassroots movements such as youth organizations they write and i think growing in force and popularity that they could alone and his five star movement now thrive online shunning traditional media and gaining huge respect with its li younger generation something that technocrat premier nary a monkey has say far failed to do they'

credited with twisting michael's arm into accepting the bank bailout program is prime minister mario monti but for him there is a seismic political shift going on but the old elite feeling the public backlash against austerity now we've been comedians are proving successful alternatives to the current leadership as artie's cerified reports that italy's economic situation is no laughing matter it might come as some surprise that it's full of a t.v. comedian that. he's the latest character to still italy's political spotlight as the euro crisis continues voters have become increasingly disillusioned with mainstream politics in a radical apocalypse breeds and grassroots movements such as youth organization and the rain have been growing in force and popularity that take willow and his five star movement now thrive online shunning traditional media and gaining huge respect with its younger generation something that technocrat premier nary a monti has say far failed to do they're all whispering about young people but young people are not really represented in the stone thing goes off people in

that employment cost you might like last year and you had to take that prime minister mario monti he was a mess that makes the country finances but the tough economic medicine that if the spider was really. tell you just the large number of people that it's this march today the year isn't that largest economy has seen its current course absolutely saw the impact that people's lives is very significant of course this isn't something we see this year in stone building for a long time you call greece ireland portugal spain spain which is just recently had . the stalls and a lot of people think it's going to be following in the first that the other countries had a full state bailout in recent times remember just a couple of years ago even love that you mention the possibility about a year lending about the end of the year and say well there's a couple of years on those same people and now very realistically discussing the possibility of the disintegration and the break up of the year is the question that everyone's asking is what now happens next are we close to saying goodbye altogether

food but i would sometimes we're going to hear this hijacking scenario where some technocrat like mario montiputs a gun to the people's head and say either give us all your money or we're going to take all your assets going to do it anyway so i want to form some kind of resistance against this global occupation by bankers you know the people have to stand up and realize that no one's going to help them but themselves they need to push out the kleptocrats of the banking terrorists as i call them and stand up for themselves until they do something for themselves no money to do anything for them saving the euro was the priority for leaders of the euro zone's for biggest economies who have met in rome whether there is enough time to rescue the. single currency also a topic for debate with peter lavelle and his guess in cross talk coming up later today here's a. yes they're not always up but there's the costs of the course not attached to each way out so i think what you have is the one at this moment as they try to calculate these costs this is a chance and they will choose the lower cost so i pe