monti -- problem with mr. monti is that he cannot rely on a full parliamentary support. also, the center-left democrats. he could find that his hands are tied. >> you said that his hands may be tied. there are no politicians in the mix. how much of an indictment is this on the political establishment of italy? >> i think that is hard is seen widely in the eyes of the italian public, that the existing political class is so discredited, not just on mr. berlusconi's side, but also the opposition, which has suffered from disunity and their own corruption scandal. to bring in the unelected, it gives them quite a lot of credibility in the eyes of the public. >> to go so far as to say that this cabinet could be a model -- would you go so far as to say that this could be a model for other troubled eurozone members? >> i am not sure about that. italy has had technocrat government before, the last in 1995, lasting for 15 months, passing pageant -- pension reforms. it was reasonably successful. will be ready to go to the polls and choose a new one in -- they will be ready to go to

there he is, mario monti. just talking about him a little while ago with our correspondent alan johnston. an incredibly short address, by the looks of it. we did not miss much. they are due to unveil the long- awaited cabinet, in the eurozone's third largest economy. alan johnston was saying the big question is not really whether he would get a cabinet or whether it would be supported, but to what extent it would be a cabinet of technocrats and how many politicians there might be. that is pretty much one of the most important stories we have been covering today. stay with us on bbc world news. there is plenty more to come. >> funding was made possible by the freeman foundation of new york, stowe, vermont, and honolulu. newman's own foundation. union bank. and shell. >> this is kim - about to feel one of his favorite sensations. at shell, we're developing more efficient fuels in countries like malaysia that can help us get the most from our energy resources. let's use energy more efficiently. let's go.

however, the future of mario monti administration is by no means certain.ew name has come up today, and he is a possible leader of a technocratic government. he is a former official of the bank of italy. he has already been prime minister once in the 1990's. he served as foreign minister. he is regarded as a possible viable alternative to mario monti. the point is that if mr. deeney rigid takeover, he might get support of the freedom party. mr. berlusconi's party is split between those who are prepared to support the new mario monti government and those who are not. there is still a certain amount of confusion about just how easy it is going to be for mr. mario monti if he is called to form a new government and to actually carry it out. there are many hurdles. >> right, thank you very much for that update. portugal is also under pressure. there have been austerity measures there as well. >> it was not just in athens and rome. portugal has confirmed its commitment to the fiscal austerity required by its rescue. portugal's parliament approved a package of mea

mario monti in italy, trying to form a government. economist lucas papademos in greece, looking to push through. the balance shown needed to bring in cuts while keeping public support and curbing unrest. the markets and tdebt drove this crisis. in asia this morning, markets rose. >> if you have to deal with unsustainable debt, it might be very difficult to fix that. the economy of italy is a week. we think it's very unfavorable. >> italy's economy is too big to bail out. greece's has been already. austerity plans include tax raises in vat, cuts to public sectors, and changes to pensions, mainly raising the retirement age. >> [speaking foreign language] >> mario monti will be better than what we had before, obviously. he seems to be a person who is serious, normal, and with experience. >> [speaking foreign language] >> for the good of italy, let's hope he makes it. >> yesterday, he spoke about his sense of responsibility and service towards the nation. >> [speaking foreign language] >> the country must meet the challenge. we must go ba

monti's plans are higher interest payments. there is little mr. monti can do about the markets.rate on what he can change, italy's dismal economic growth. wages and costs continue to rise, meaning italy has lost competitiveness as quickly as countries such as ireland and portugal. mr. monti must set italy's entrepreneurs free. immediate labor market reforms to address the high cost of unemployment would be a good start. italy's debt ratio is 120% of gross domestic product. merely stabilizing it at that level is not enough. it should be reduced to below 100%, for starters. economic growth will help, but mr. monti should not shy away from a wealth tax. after years of evasion and denial, italians need to start helping themselves. i'm stuart kirk. >> tom: that's nightly business report for tuesday, november 15. i'm tom hudson we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at

monti's head. >> and it's not been easy, has it? one might have thought that with the passing of berlusconi and the arrival of the new man, he'd be given carte blanche to get on with it, but it hasn't been that straightforward, has it? >> well, there's been a lot of talking. a few days ago, it looked as if really quite significant numbers of mr. berlusconi's supporters were going to oppose the monti plan. but over the last couple of days, another really crucial meeting late yesterday, it seemed that mr. berlusconi's party, for now at least, has fallen in behind the idea of a monti technocrat interim administration, but everybody knows that mr. berlusconi quoted in his brother's newspaper that if he doesn't like what mr. monti down further down the track, he has the capacity to pull the plug on the interim government. remember that mr. berlusconi will hugely influence the largest number of supporters in parliament and any one individual he has, at the same time, a huge media interest as well. >> thanks very much. we wait await the an

now mario monti asemples his new administration. and a russian spacecraft carrying three astronauts is successfully launched from kazakhstan. welcome to "bbc world news." i'm peter dobbie. also in this program -- unlocking the causes of parkinson's. researchers say they fond a link between the condition and a common industrial cleaning product. >> an extremely dangerous set, that's what syria has called the arab league's decision to suspend it from the organization, speaking at a televised news conference in the past half-hour, the foreign minister warned that what he describes as the libya scenario would not be repeated. he called the arab league decision illegal and maintained that syria was committed to dialogue and reform. >> the arab league's decision is illegal. it has not been issued by unanimous votes. it doesn't rely on the legality . we said in the past, and i'll say it again, that syria has reforms and titles and for halting the cities. syria is aware of the magnitude of the conspiracy that threatens the unity of its peop

mario monti will begin to put together a new government. they must then pass tough measures to put the country back on solid financial footing. monti replaces silvio berlusconi who resigned his post on saturday. >>> hamas security officials say at least one person was killed when warplanes. medical officials say hamas troops may be buried in the rubble. >>> three french aid workers kidnaped more than five months ago in yemen have been freed by al qaeda militants. the french news agency quotes nicolas sarkozy and officials as confirming the release. no word yet on their condition. mr. sarkozy thanked the authorities for their help. an inquiry prompting by the phone hacking scandal brought down by the british tabloid gets under way in london today. investigators will look at the culture, practices and ethics of the british news media. a separate police probe of the scannedle is ongoing. those are the top stories from cnn, the world's news leader. i'm zain vergee and "world business today" starts now. >>> good morning from cnn london, i'm char

monti to proceed, to continue with determination and speed.did not set any terms for the government in the discussions. >> despite this political disagreement, there are already been protests against the new administration. these civil servants feel they will beef unfairly hit because of outside bodies like the you. -- the european union. on tuesday, the benchmark rate for italian government borrowing again passed the critical 7% level. that is what forced other eurozone countries to take bailout. later on wednesday, monti will meet president nepolitano to receive his new cabinet. >> authorities in the philippines have presented -- have prevented president gloria oroyo from leaving the country. she is being investigated for federal corruption, but she says she needs medical attention abroad. but the government is concerned she will not return. growing tension in the south china sea is a subject between the u.s. and australia. -- between the u.s. and asia. and pres. barack obama is due to arrive in australia in a matter of hours. the u.s. is co

mario monti will meet the country's president. he says he is convinced the country can overcome the financial crisis. >> day 3 in the corridors of power for mario monti and it seems that he is starting to have some success. the new italian government finally beckoned. >> i will be able to present the conclusions of this work to the president of the italian republic. clearly, out of respect, i cannot anticipate the contents of it. my absolute serenity and conviction in our country's ability to overcome this difficult phase. >> since he was asked to form a new administration on sunday, mario monti he has much -- has meant tirelessly with business leaders and trade groups. >> we are working for the national interest with a commitment to achieve the construction of new government. in view of the facts, we believe the attempt will be successful. >> we have encouraged them to continue with determination and speed. we did not set any terms for the government in the discussion. >> despite his political agreement, there have already been p

former eu commissioner mario monty is expected to take over for silvio berlusconi. monti would lead a unity government charged with tackling italy's debt crisis. >>> a u.s. soldier has been sentenced to life in prison by a military court. calvin gibbs was found guilty of murdering three afghan civilians. three members of his unit had already pled guilty. gibbs was accused of cuts off pieces of the corpses to keep as souvenirs and planting weapons to make it look as though the men were taliban fighters. gibbs will be eligible for parole in ten years. >>> in the turkish city, 28 people have been pulled alive from the rubble after a deadly earthquake wednesday night. rescue crews worked throughout the day, thursday, to reach people still trapped. dozens more may still be buried. the government says 260 survivors have been taken to other cities. the death toll stands at 12. >>> the murdoch media empire has been compared to the mafia. he said they adopted a code of silence surrounding the phone hacking scandal. murdoch rejetted the allegation when he appeared before mps

the new prime minister, mario monti, has been sworn in. he is also the country's new finance minister. this report contains some flash photography. >> is this elyse savior? a nation in crisis turns to mario monti, his new government of experts must now try to stave off a looming financial disaster. italy is being crushed by its debt, forced to pay unbearable interest rates when it borrows money. the fear of the international markets teixeira to democracy aside, each of the technocrat ministers is unelected. they will try to impose austerity measures and demands sacrifices. italians will feel the pain. that will draw the mild-mannered mr. monti deep into italy's political r. renna, which is new to him. he does have friends there, but how will he cope with the ambushes and the infighting? >> he needs a solid parliament. every piece of legislation in the parliament, maybe this is the part that is less knowledgeable. >> mario monti faces a huge challenge from the international money markets and the hard world of italian politics. do people her

mario monti will soon choose a new cabinet. the 68-year-old monti is an economist and served as a european union commissioner for ten years. he told reporters on sunday that he will work with a great sense of responsibility and service toward the nation. president giorgio napolitano commented on the nomination saying monti is competent and well respected internationally. monti's nomination is supported by main opposition parties. ruling parties say they will back his appointment on the condition that monti will assemble a cabinet of tech yo crates. >>> both the european union and european commission welcomed the appointment. they said it sends an encouraging signal on italy's determination to overcome the current crisis. they also said that they will continue to monitor, based on the country's law for finance. >>> let's see how the stocks are kicking off this monday morning in japan. ramin mellegard is at the tokyo stock exchange. ramin, good morning. a lot of foe cohas been on eurozone debt but there's some domestic news that

monty is live with details for us. monty? >> reporter: we heard from cal tran tonight, and he's been fired along with his supervisor, and they're trying to reassure the public that the bridge you see behind me is structurally sound. state and federal transportation systems have launched investigations into what was uncovered by the sacramento b, a report that caltrans technician, dwayne wiles, performed tests on some of the pilings of the new eastern span. the paper said wyles falsified some of those tests and is not see that his equipment was working properly. caltrans said he was falsifying data in three other projects but not while he was working on the bay bridge. >> the individual worked on the bay bridge before he was caught falsifying data. we've gone back and reviewed all the work that that technician has done since 2004. we've also gone back and reviewed all the tests on the bay bridge to ensure that the magnitude of the problem was limited to those three structures, and it was. >> reporter: it included a retaining w

mont-- monti will be talkin about. his ministers were saying knock as he filed out of his first cabinet meeting but they are desperate to find ways out of this very grave eurozone crisis. many ideas have been floated. we start to hear more about the euro bonds which would effectively gather all european debt together and mr. monti, we know, is pretty in favor of that continued of idea. >> to discuss a british financial story this is one that can get people's blood boiling, executive pay. >> this is a survey out. this has been a year-long inquiry a report by the high pay commission looking at the top executives, the top british executives and boy that gap between the 0.1% of earners to the bottom is widening. it is increasing indeed. the report really critical of the stratospheric pay increases which distort the markets and pweldz distrust among -- builds distrust among the average british worker and rewards failure and not doing any good at all for the u.k. economy. you want to get the blood boiling? let's look at one

mario monti a former e.u. commissioner has been appointed the head of the new caretaker government in italy to pull the country back from the financial abyss this follows the resignation of silvio berlusconi who stepped down on saturday having ruled the country as prime minister for a total of ten years in three separate terms are to sarah firth brings us the latest from rome. for those of you feeling bad about the start of another working week on monday spare thoughts further the former commissioner and mario monti has just been appointed by the president to form a new government and he now faces the massive task of pulling the country back from the financial abyss into which is currently staring so not your usual job description certainly but everyone a very much a playing he's up to the job and everyone's going to be watching extremely closely to see what the results of that will be now he is currently deciding on who will form that new cabinet around him an m.p. i was speaking to recently told me it was ex

mario monti.is there. >>> the confessed norwegian terrorist making his first court appears in norway today when he tried to speak, apparently he was cut off by the judge. anders breivik is his name, charged with killing 77 people in a shooting and bombing rampage in oslo back in july. he has pleaded not guilty. the judge is expected to decide today whether to leave breivik j jailed until his trial begins in the spring. >>> and a phone hacking scandal trial begins today in london. headed up by a judge. the outcome could transform the way newspapers operate there. the first witnesses are expected to be called next week. >>> still to come on "american morning," the republican presidential hopefuls are converging on iowa this morning, and according to the latest poll, one of the candidates is making a very strong move on the front-runners. >>> and the occupy wall street protester who got the opportunity of a lifetime and took it, serenading the president and 18 other world leaders in hawaii with a pro

the first-time mario monti is attending as italy's new prime minister. and there are reports about sharp disagreements between france and germany over expanding the role of the european central bank and that mario monti could be caught in the crossfire. our european correspondent, chris morris. said, don'tlways underestimate the political will to protect the euro, come what may. it is being tested more than ever before. when welcome piece of news for france and germany, they and the markets like the new man at the top. >> the eurozone's big two are meeting again with plenty of urgent issues to resolve. but this time they are joined by the new italian prime minister mario monti. the message they want to send to the markets? eurozone's third largest economy is too big to fail, too big to bail, but it is back in safe hands. can this respected academic economist also play a role in mediating between france and germany? efforts to find a way out of the crisis seems stuck in the mud. france still wants germany to change its mind and allow the european central

monti may also be called upon to immediate all the between these two, mrs. merkel and mr. sarkozy struggle to reconcile their differences, hence today's trilateral meeting between the three eurozone countries, which are also members of the g-8. it comes at a difficult time, as disputes over the best way to try to resolve the crisis in the eurozone are becoming increasingly public again. france has been saying repeatedly that berlin should relax its opposition to the european central bank, guaranteeing the debts of any country which runs into trouble. germany has been saying equally vocally that that won't happen. something somewhere is going to have to give. chris morris, bbc news, brussels. >> a general strike is being held in protest at austerity measures that are being introduced there following the international bailout. public transport, schools, and hospitals among the areas expected to be affected during the 24-hour stoppage. more than 400 international flights will be cancelled, while some million commuters had to make their way to work without regular train servic

the eu's military affairs commissioner promised to support mario monti. >> also, i first and foremost and concerned about economic reforms. to protect growth and jobs. >> so far, monti's appointment has failed to convince investors italy has our report on strategy. rahm had to pay a yield of 7.2% -- rome i did a yield of 7.2% on bonds. portugal has had to offer similar rates to drum up fresh capital. >> this is touching approximately at the core and the core itself. it shows this is an increasingly systemic phenomena and. >> the increasing nervousness in markets is unsettling for european governments. so much so that italy and france have met up for additional changes to the european stability fund. >> rating agencies are at it again. standard and poor's has downgraded belgium's credit one notch. the reason? the country's record-breaking political impasse. it has been going on for a record-breaking 19 months now. slowing growth as well. massive economic problems for government to tackle that does not even exist. well, european shares did manage to climb on the last day of the trading

each of these new leader mario monti you know has a big task ahead of course to pull the country out of its crisis but will he really have enough supporting authority to make the difference and to get those measures pushed through. the kernel difficulties. because actually the italian political spectrum is pretty divided true large blocks with a number of small parties with the ousting of mr berlusconi out of the governments of course the appetite for the different groups especially the smaller ones within each coalitions is increasing. but there is a question which should be. a politician it's lee were not able to do what mr monti is supposed to do because finally britain's conny had quite a large majority he was ousted the issue of a few votes missing during one of the. in the parliament they could have found an agreement to make these reforms with the opposition parties without the need of a technocrat to be just a float. to make this you for what it is only so if you're only a small source is it not the job of a technocrat government to sort this problem out the politicians have

monty francis is in san francisco for a look for us. hello, monty. >> there are six candidates in this race, and we cut down a few of them tomorrow. the ballot could lead to an upset in this race. offering smiles and handshakes to voters in the city's lake shore district, here's how interim san francisco mayor ed lee described his confidence level of winning the election on tuesday. >> high. very high. i've got a lot of people that say, hey, want to keep the city going and let's not get into negative politics. i think they want the city to be united more than ever. >> it includes voter fraud and money launderring. candidate and state center leyland lee who spent the day phone banking says mayor lee hasn't done enough for the supporters, including helping voters fill out ballots in chinatown. >> he is usurping the democratic process, just trying to steal an election, and all he can say is, i don't like that. >> there are some individuals who feel like they're helping me to do the improper thing, and we turned them over, as we should, to

monti is a well known economist. he was appointed to succeed former prime minister silvio berlusconi who resigned on saturday after failing to address the country's budget situation. the new prime minister will also serve as the finance and economy minister. monti's cabinet is made up of only technocrats, meaning there are no politicians. >>> despite the inauguration of the new cabinet, italian government bonds continue to be sold in the european markets on wednesday. no prospects are in sight to prevent further bond price declines. italian ten-year government bond yields remain over 7%. that's a level that will make it difficult for the country to carry out fiscal reconstruction on its own. the yield on the spanish ten-year government bond topped 6.4%. the highest level since the country joined the euro. government bonds of france and other countries that are supporting debt-ridden euro zone members were also sold. market sources say europe's credit crunch is getting worse, as sell orders are gaining pace among majo

mario monti did not prove that he is going to be effective in that role. there is a lot to play it between that and the next crucial summit in early december. >> thank you. deserters and syria have reported 18 members of the country's security forces in two separate attacks. the freeze syrian army, which is based in turkey, -- the free syrian army is based in turkey. the leak had already given syria one deadline to halt the violence against anti-regime protesters. no syrian delegates attended. egypt's ruling military council has asked the prime minister to form a new government. activists demanded the army dismissed the previous cabinet. dozens of people were killed and the clashes and the council has apologized for their deaths and promised an investigation. >> the violence may have stopped, but the protests continue. on thursday, atreus settled on cairo, but the demonstrators were out in force demanding the military handover power. many protesters have lost all trust and the country's military rulers. we were expecting everything to be implemented by now

nbc bay area monty francis is at the hospital with the latest for us. monty? >> reporter: police released surveillance footage of a suspect, hoping it will lead to an arrest. meantime, the victim is here at the hospital listed in critical care condition. >> he battled wildfires and as a marine, he fought for his country for four years in iraq. now he's in a different battle: fighting for his life. >> this is tough. as you can imagine, it would be tough for anybody. so i really can't explain, you know, what the family is going through. >> reporter: at 2:45 a.m. thanksgiving day, police say bartol got into a fight at a fast food restaurant in the city's richmond district. you can see the men that bartol fought with on the left-hand side of your screen. after others broke up the fight, bartol walked two blocks down geary to a shell gas station. one of the men got into his car, drove down the street and ran bartol over. he suffered a traumatic brain injury. >> especially during the holidays, it makes it a little bit harder. the difficulty is we're all just a phone

here in brussels, mario monti is seen as a can-do man.he was known as super mario, and the fundamentals and italy have not changed. they still have record levels of debt and interest rate payments on the money they have borrowed. in greece, too, there is a new leader on the block. lucas papademos is still to be on influenced by public pressure, and yet, in the greek parliament today, it was thought it will not be possible. the opposition hinted at political problems to come. it could derail the next great flight of funding. the euro is still in crisis. just listen to angela merkel in germany today. >> [speaking foreign language] >> europe is in the middle of what may be our toughest hours since world war ii. we must not be discouraged by that. we must succeed in getting us are of this crisis, stronger than before we went in. >> germany is the only your country investors see as truly safe. italy and greece may have changed their guard, but they and others remain under huge pressure. matthew prize, bbc news, brussels. >> huge pressure indee

will mario monti be able to form a government?ougher austerity measures? well, join me for another hour coming up. mine was earned over the south pacific in 1943. vietnam, 1967. i got mine in iraq, 2003. u.s.a.a. auto insurance is often handed down from generation to generation, because it offers a superior level of protection and because u.s.a.a.'s commitment to serve the military, veterans, and their families is without equal. begin your legacy. get an auto insurance quote. u.s.a.a. we know what it means to serve. regiright from your office. you deposit checks so sitting at your desk is just like going to the bank. see? i'm at the bank. now i'm in the office. at the bank. in the office. at the bank. in the office.

now, it's also d-day for mario monti, the prime minister-designate.e spent two days rallying support in parliament for this. monti faces the task of reining in italy's massive debt pile, $2.6 trillion and counting, equal to no less than 120% of gdp. italian bond yields jumped about 7% on tuesday, or to about 7% following a lackluster reading on third quarter growth for the entire euro zone. this is where the ten-year bond stands at the moment, shy of 7%, still 6.77%. and it has twice passed that crucial 7% level which many an economist says is too expensive and too sustainable. let's look at how the european stock markets are faring about an hour or so into the trading session. broadly speaking, a positive day. some cautious optimism. we've got the cac 40 and the dax moving up nearly 1%, but not quite there for the moment, andrew. >> yeah. positive optimism here is pretty hard to find, nina. president obama says they need to come up with a concrete plan and show they can deal with the crisis. this is the tone. you can see a pretty miserable day in asi

cheers at the presidential palace where he handed in his resignation it's likely successor is mario monti. the dark clouds of the european debt overshadow the apec summit in hawaii as the top asia pacific economies look to limit the fallout and prevent another global recession divisions persist however with china and the u.s. failing to see eye to eye on how to promote trade in the pacific rim. the arab league has suspends a syria recommending sanctions against the country in an effort to force president assad to end of the deadly unrest that's claimed more than three and a half thousand lives to move the support of washington and to the e.u. critics are concerned there could be a repeat of the libya military intervention. and for those of you eager to comment to the russian capital for business we have the ultimate guide moscow out is nuts. she's telling. me. dynamic. to friends. months ago. a. trusted secretary that hello and welcome to the show this week bergen will be taking a look at business the seventy's and locations in the russian capital every week thousands of business women co

monti is a well-known economist.e was appointed to succeed former prime minister silvio berlusconi, who resigned on saturday after failing to address the country's budget situation. the new prime minister will also serve as the finance and economy minister. monti's cabinet is made up of only technocrats, meaning there are no politicians. >>> despite the inauguration of the new cabinet, italian government bonds continued to be sold in the european markets on wednesday. no prospects are in sight to prevent further bond price declines. italian ten-year government bond yields remain over 7%. that's a level that will make it difficult for the country to carry out fiscal reconstruction on its own. the yield on the spanish ten-year government bond, meanwhile, topped 6.4%. that's the highest level since the country joined the euro. government bonds of france and other countries that are supporting debt-ridden euro zone members were also sold. market sources say europe's credit crunch is getting worse as sell orders are gaini

. >> reporter: this morning, in his first public act, italy's new prime minister designate mario montit to church. italy wants to show international creditors that its politicians can be serious. monti, a respected gray-haired economist and university president, today formally accepted the responsibility of forming a new italian government. he stressed the need to end italy's financial crisis. >> i will commit myself to finding a quick solution to this emergency situation and work with a sense of urgency and scruples, he said. >> this is not just an italy with prostitutes, money, corruption and lack of international credibility. there is also an italy which wants to recover very quickly and give a different impression. >> reporter: monti never mentions silvio berlusconi by name today. there was hardly any need. berlusconi's bunga bunga sex parties and alleged trysts with minors are well known. in fact, they helped chip away faith that italy had the wherewithal to fix its economy, riddled with debt and low growth. last night, thousands cheered and some sang "hallelujah" as berlusconi re