northern europe to southern europe fundamentally, the mindsets are different. me it will not work. if greece defaults, and leaves the eurozone, the problem is they have a domino effect politically. italy, spain and portugal do the same. in this three-hour conversation, portugal was raised and greece was the bad boy in the class. but they have no choices. they oso many billions of euros, they have no choices. -- they owe so many billions of euros they have no choices. will they disintegrate? >> nor don't think so. >> if they leave, inevitably spain and portugal follow suit. >> first of all, just one other point, spain. 3.5% growth, the toughest of the austerity programs. >> 50% unemployment in growth -- greece. >> do i like this thing? i didn't create it. i didn't borrow the money. there is no way you can have a monetary union without some sort of fiscal union. that is what was being attempted. it wouldn't work. it worked in the united states of people thought, why not here? >> 19 different cultures coming together but the history of war and everything else to a

it created such suspicion inside europe, northern europe, london, that they are just skeptical of any tech company especially u.s. security companies. so they often are now requiring to review source code, for example, of your product and you have to prove to them that there's nothing fishy or backdoor inside the code itself. the very brains of the product. and we're going to see that for a number of years until the snowdon effect dies down. >> banks and companies will expose their software to the very untrusted chinese government to sell it there, but that's the state of the world right now. we'll be right back. ♪ ♪ >> billions of dollars of car dwow in limbo due to the port. labor secretary has flown out here to california to set until distribute -- dispute to try to get things moving again. we have a report from perhaps one of the most important western ports. >> this is the breakwater here. >> these are all ships? >> all ships. i see 25 or 30. >> being out here on the water gives you perspective on how much stuff is sitting on these ships that are going virtually nowhere. accordin

it created such suspicion inside a particular europe northern europe, london, things of that nature, are sketch called any u.s. country especially u.s. security country -- companies. they are requiring to view source code of your product and you have to prove to them there is nothing backdoor inside the very brains of the product. we will see that for a number of years until this snowden effect really dies down. >> banks and companies are having to expose their software to the very on trusted chinese government but that is the state of the road right now. thank you very much. "bloomberg west" will be right back. ♪ cory: lands of dollars worth of cargo in limbo due to a huge dispute in west coast boards here. it is happening behind me and happening in los angeles and cattle. the labor secretary has flown out here to sell the dispute and get things moving again as shelby holliday reports from one of more than two dozen ports. maybe the most important of the west coast ports. >> this is the breakwater here. those are all ships. ic 25 to 30 here. >> being out on the water really gives yo

it has 52 sovereign nations and it's a place that you can drive for two hours in northern europe and encounter for languages, all difficult to understand in many ways. and what is important about europe is that it conquered the world. and it conquered a singular culture of science and philosophy to the world and yet never stopping to be at war with itself and never stopping this constant warfare [inaudible] there was one individual that wrote a book called the great illusion which he demonstrated that there could be no serious wars in europe because the level of interdependency the exposure the financial markets if there was a water -- consequences for trade made such a war impossible. we look back chuckling but i kept remembering norman. .. i always wondered what would have happened if they owned nuclear weapons. from 1945 until the collapse of the soviet union until 1992 piece was not a gift the europeans gave themselves. it themselves. it was given to them by the americans and the russians. it was only 1992 when the soviet union collapsed and the americans lost interest that europe

it will start with probably france followed by germany, uk northern europe be with, and southern europe of people are very gloomy. they don't think euro will survive, europe will survive or at the very least will be troubled and have to deal with slow growth for a decade. you're not there. >> not at all. we said nine months ago betting on europe, government had their act together, becoming digital countries. they yundz it understand it by cities. i'm even more bullish on the u.s., however. >> what makes you more bullish on the u.s.? i think i'm right you're with the other party in the united states, republican. >> but i like democrats, too. >> would you say that when you look at how the united states has handle the great recession, between monetary policy, fiscal policy, recapitalization of banks, at least it looks to me we've done it better than anybody else. certainly if you look at japan and europe as the other alternatives. >> i think you're probably, fareed, you and i agree on most things. i think this time you're a little bit generous toward government. i think we've done it purel

. >> generally northern europe and scandavia is expensive but port you goal and spain and greece greatotels are cheaper and everything is cheaper and even food. >> greece, we heard in the news these days. they are talking about abandoning the euro, and because they are in such rough shape they are looking for tourist? >> if you are adventurous. russia with what is going on there, the dollar goes far. and so in general with oil prices going down. we have seen airlines reduce fuel surcharges that are a big fair component. and there is good news for the travellers who can find the best deal. >> i booked flights to italy last week. i am taking my kids there this summer. i was surprised. i didn't think it was all that cheep. there were better deals if i wanted to fly to london and then do a two- part trip. but the nonstop was not that cheap. >> june, and july and august is peak travel do it in april or may american airlines have off peek and 40000 miles round trip. and shoulder season or september beautiful time to so europe save a ton of time and avoid the crowds. >> now you tell me. what

yes you might be running out of money and by the way northern europe might be all in favor of that rather than giving in because if greece gets its way too much well then other countries like spain want to follow suit so they're going to say hey stick to the agreements. >> that's the question about whether there could be contagion if the eu gives in. we saw the rise of a leftist party in spain and other countries. there the question is how do we define contagion? what we were concerned in 2012 was the melt down of the financial system. other banks in europe don't hold much debt in greece anymore. if greece were to default it would be horrible news for greece but the rest of the financial system wouldn't be as affected. clearly there would be volatility. having said that the austerity party in europe, if greece were to have a melt down that might discourage the greece. so it's a high stake poker game. let's keep in mind at this stage it's mostly talk and who knows what they're going to agree on. >> there are still talks in europe and in the united states, the stock indices seemed to be jus

weekend playing golf far from home in southern california, terror forces in northern africa and northern europeed to bring their violence to the doorsteps of the global christian community prompting an urgent plea from a key member of nato tonight. we have fox team coverage. it was a grisly weekend of terror.

particularly the fallen the currency, many of the global champions that find themselves listed in northern europe are in a good place. we see the european economy will improve this year, not least of all because of qe. conditions appear to be improving a bit. we think there could be another 10% or 15% in european equities. >> we will talk about how hot your job has got and the bond your could -- the bond market yield could get there. we have to talk about greece. gridlock plagues the debt negotiation. who blinks first? later this hour, apple's market cap hits an all-time high. we speak with the men who designed the chips for the ever-popular iphone. the swiss national bank shook confidence in the danish kroner. ♪ >> busy day ahead. strong numbers this morning from a variety of companies, including the biggest wind turbine producer. it posted its biggest dividend since 2003. joining us right now is anders runevald ceo. i'm looking at the stock down 5%. what you think investors are disappointed? >> thank you very much. i can't really comment on the market, but i can comment on the result. i'm very

it is a place where you can drive for two hours in northern europe and encounter for languages, while difficult to understand in any way. what's important about europe is that it conquered the world and it conquered and bought a singular culture of science and philosophy to the world. and yet never stopped being a war with itself. never stopped this constant warfare. in 1910 and extremely bright man who won the nobel prize for the book called the great aleutian where he demonstrated there could he know serious wars in europe because the level of interdependence the exposure in the financial markets if there was a war the consequences for trade made such a warm possible. e-mail, we look back. throughout my writing of this book, i kept remembering the absolute smug certainty that europe had put its history behind it. it's absolute smug conviction that it couldn't happen anymore. this is from a person of enormous sophistication, he was not a frivolous man and yet he didn't see what was coming right in front of them. that's a story that has to be sold in it self. how europe convinces itse

>> tell people in northern europe where birth rates are plummeting, and also you encourage a man and to stay together to raise to maturity the children produced by their union, those are important public purposes and purposes only served by opposite-sex couples. kennedy: i love making babies and practicing, i have friends who have chosen not to have children. do you think their marriage is illegitimate because they're not bringing children into the world? >> the problem is to exclude opposite-section couples who don't pro create for marriage would indeed challenge the constitution, inquiries into intent or fertility which would be questionable under the constitution. kennedy: indeed. >> you don't have to make the inquiries to determine that same-sex couples are not going to pro create naturally. kennedy: let's take the institution away from the government and therefore we can all live freely with our choices. peter, thank you very much. >> if it was all about adults, that would be fine, it's about children. kennedy: it is about children and monogamous adults coming together glorifyin

weekend playing golf far from home in southern california, terror forces in northern africa and northern europe staged new attacks and threatened to bring their violence to the doorsteps of the global christian community prompting an urgent plea from a key member of nato tonight. we have fox team coverage. it was a grisly weekend of terror. copenhagen is touched by terror. we begin tonight with chief intelligence correspondent catherine herridge with egypt's response to the brutal murder of 21 christians. good evening catherine. >> thank you ed. while there's no independent confirmation tonight, libya media is reporting that more egyptians have been kidnapped in retaliation for today's air strikes. egyptian warplanes struck islamic state targets in libya today hours after the terror group released a grisly video showing terrorists cutting off the heads of nearly two dozen egyptian coptic christians. the strikes ordered by the egyptian president general el sisi on public tv, taking military action in neighboring libya. >> we need to pull our forces together and face this threat that is coming cl

it is a place or you can drive for two hours in northern europe and encounter for languages. all of them difficult to understand in many ways. what is important about europe is that it conquered the world and it conquered and brought a singular culture of science to the world and yet never stopped being at war with itself. it never stopped this constant warfare. but it seemed like it was ending. in 1910, a man called norman was an extremely bright man one nobel prize committee wrote a book called the great illusion where he demonstrated there could be no serious wars in europe because the level of interdependency the exposure in the financial markets if there was a war, the consequences for trade made such a war impossible. we look back and throughout my riding writing of this book, i kept remembering norman, the absolute, and if he will certainty that europe had put its history behind it. the absolute smug conviction that it couldn't happen any more. and this is with a person of enormous sophistication and enormous learning and yet he did not see what was coming right in fron

some of the biggest flooding expected in some two decades over portions of northern europe.ant to show you because a threat with the storm system with strong winds. downed trees, power outages, hazardous travel given with the storm system. winds generally 60 to 70 miles per hour. approaching 100 killometers per hour. we should have snowstorms where you expect and wet weather to the south. the name of the storm really going to be all about the -- the theme i should say all about winds. continues to howl 80, 90 kph. even paris gets in some of the 60 kilometer per hour winds. enough to cause disruptions here. the storm still about 24 hours away. the fog ahead in the delight moderate end. 40 to 45-minute delays expected. a quick glance at the western side of the united states. wet weather scars in place. a lot of wet weather across the region of southern california. in fact a flood warning has been issued for portions of glendora california. glendora was the area devastated by the colby fire a while ago, a year ago. now we have monitoring taking place on officials here. you get

countries for its report, and these are the top five suppressed freedom no surprise really, all in northern europe, the bottom five the worst place for press freedom are china syria turk men stan, north korea and aritraia. egypt is also ranked low down at 158. that's just one place up from last year. a number of countries have become significantly worse since last year, the united states, russia and turkey, they've all dropped to lower places, venezuela, that's gone down, too, gone down 20 places and libya's gone down 17 places. >> lucy, program director at reporters without borders has more details. >> we've seen dangers targeting journalists we by ongoing conflicts, trying a wage a war on information and we're again taking collateral damage. we're seeing blasphemy as a way for political control plus also seeing journalists being taken into court in the crossfire in demonstration. whether it's happening in venezuela, brazil, greece, and many others, which prevents people from being properly informed of important social movements. >> another major story today is the greek proposal to revise its de

staffing company has a huge european business, just told us it saw very strong growth get this, northern europe, high single digits italy, plus 15%, spain, plus 26%. lower energy costs, they don't hurt it either. let's say europe's breaking good for once. you don't get this kind of currency rally unless it's backed up by something real something real that we'll all be reading about very soon. next up is oil. a week ail, we were concerned that oil still couldn't find the footing. crude was trading below 40 seems like it was headed for the 40s. oil and gas bankruptcies would be the talk of the town. one week later oil's up a quick ten bucks, taking out the $50 level. going right through to 53 today. that's a staggering 19% rally. 19% rally in one week major trend change. and a matter of days we've gone from believing there was no bottom to a slow bottom to a rapid v-shaped bottom. it's a huge transformation. now, we've seen immense guide downs from the oil companies that have reported in the last ten days, we've seen endless downgrades in the group, individual stocks, downgraded, hold to sell hol

if you look to the northern part of europe, that's very strong. ce, the northern part of europe, it's doing quite well. what i hear from money managers is if you can own a company that operates in the southern part of europe and has cost in the southern part of europe but sells its products in the northern part of europe, that is the best situation. >> those southern parts of europe, the peripheral countries is where you will find real juice in -- as far as returns. you have $190 million to put to work. where are you doing that? >> right here in the usa. we have a home country bias which in our country institutional investors are pretty rare. we think the u.s. is a good place to stay invested and it has been for the last five years. we have done very well by being focused here and we think the u.s. economy will be nice and stable. >> you generated and a .2% return in your most recent year. >> correct. >> how do you do that again? is the stock market going to go up another 8%? >> alley say my job is a marathon. when your return is the pace for mile.

the polarization between nationalist views in northern europe and increasingly left-wing antiauthoritye. -- anti-austerity views in southern europe. things tend to be very difficult in these circumstances. >> keystone pipeline. the house finally passed it yesterday. president obama has promised to veto it. incredible that we did finally get a vote. >> stephen king, thank you. robert berg, thank you wes welker it -- robert berg, thank you as well. ♪ >> good morning. it's, february 12. we are alive bloomberg headquarters. i am betty liu. we're night minutes from the opening bell. retail sales. the consumer, how are they doing with us. steve newman has been the president of the brothers and eddie will be my guest host for the hour. rio tinto ceo says not surprisingly, it will be a tough year for the global mining industry. we will talk to him in this hour. shares of tesla are plunging in the free market here at a disappointing quarter for elon musk's electric car company. we will look at what may have to be done next. and look at the top stories. camusso and succeed where the other has fa

easy to commit hands-on violence >> on the historical link between violence and the pattern in northern europe is a pattern of technilogically rich and devoted to violence. how clear is the history relate today the violence? >> the highest technology of any culture is typically applied to weapons of war. the mongolians on horse back had well engineered bows that could do vast amounts of damage quickly. that is something that brings out people's ingenuity. >> i am paul, a. i am wondering if you can comment on the thoughts you may be dismissing a change in human nature a little too quickly in the sense that genes are always in a dance with the environment. and i know you cite greg clark and his research is remarkable at looking at what happened starting in the 13th century with royals being much more fert fertile than the lower classe seamarks. the enlith tookpeople in new england were having what was called attention deficit disorder and greater control. skwh when a society moves in that direction, that may changing caning change the way -- it fuels a change in the culture. >> yes and i discuss

in particular we have been doing it across northern europe and it's been one of the original businessesnd we recently opened an office in dublin. >> thank you for your insight and your time. >> thank you. >> for the time being i'm sending it back to you. more to come from here tomorrow. >> thank you for that. still to come here on worldwide exchange, hsbc in the hot seat. the lender faces up to questions and u.k. parliament over the swiss bank. we're live after the short break. >>> welcome back. let's give you some headlines. the federally is short lived. u.s. futures point lower a day after the s&p and dow hit record highs. you crane will not run out of money. the country's finance minister tells cnbc. plus hp and dreamworks weigh on shares after hours. >> let's talk about the financial sector. bank of new york melon in focus. it's in talks to settle claims that it defrauded clients in transactions. last week the company said it would take nearly $600 million charge as it sought litigation. it faced several charges over misleading customers for certain dealsment take a look at shares d

northern europe, perhaps more concerned about greece's stubbornness. fabius, the current finance minister said in fact, we are looking to maybe extend the deal. the fins are saying, we are running out of patience with greece. earlier on, we had a bank of singapore economist saying how worrying it is. >> it seems if anything the positions have hardened. you are getting comments coming out of portugal suggesting they don't want to compromise. they feel like they have gone through this pain, and politically, it might be damaging for them to give greece a deal having inflicted so much austerity on their own public. >> one less thing -- in germany, there was an election over the weekend in hamburg, regional. angela merkel had her worst result since the war, but this is really a left area. what is interesting is that the anti-bailout anti-euro party called alternative for germany won their first seat. 5% they had to get, and they got 5%. >> anti-european sentiment growing across the continent. that is john dawson. let's check on other stories making headline

, manpower it's a very leading company for us reported last week and they saw improvements in northern europe in spain. the business was up 20%. in italy it was up 17% so it's not all bad news in europe. so i think we should just take a lot of things. >> there's political uncertainty that an investor in europe has to account for when looking at equities and bonds and i want to talk about how there's a lack of political uncertainty in washington when looking at how to invest nmt stock market there. but president obama unveiling his 2016 budget proposing to tax foreign earnings of u.s. multinationals at 14% and future foreign earnings at 19% which is some what of a concern for traders i speak to over there. how are you accounting for that? >> it is a concern but the republicans have rekrencently taken back congress. this is the third year of the presidential cycle which is extremely bullish for the market. it's unlikely highly unlikely that obama gets that through so great positioning. his recent speech sounded like he was a great big statesman with a lot of power but i don't think that will pa

we have massive discoveries along the parade makes it is the shortest distance to northern europe. with all the conversion stations being placed on the east coast there's it's the shortest distance and they keep cascading the question is a just the east coast by a pipeline? or do we use that system to get into the ports that really needed? i am more interested in the energy subcommittee. but the president as actually implemented executive action to produce more oil on federal lands than ever before. that is one of the reasons that you see this unusual aberration in the gas markets that prices are coming down because other countries outside our borders are pumping more because they see that we are bringing up capacity as well as canada to create a different scenario in this country and i cannot wait to get there faster. >> host: what about keystone? >> we have had several floats and i support keystone but to i still wanted to be made in the u.s.a. i want to make sure that the trust funds that are set up if there is a break that is paid for by the company's not by the taxpayers. but

audience and he is a public activist than just a cartoonist and there is a liberal movement in northern and western europesing and demanding they have the right for free speech and no charges of islamphobia would be applied against them. it is controversial because of the statement of the religion and in europe it is tense to address those issues. in conclusion he is targeted by the jihaddist and i believe he is under protection by the government. >> if you could hold on one second. apparently sky news has a witness they intrude and we'll try to take that for you. >> it is described as in complete lock down by a witness who spoke to us earlier. but marg rit tv two reporter. just explain to us, that there is a lot of police activity and a the lot of noise as well and scrapping noises that she describes hearing and we know that there is a helicopter above the vicinity of the synagogue and this fls in the crystal guard area and where the main synagogue was located. a lot of confusion being described in terms of what people can do and where they can go. >> so we are going to get out of that and go back to dr.

. >> this is the northern league on a southern offensive. on saturday the anti-europeand anti-immigration population held their rally where they're least popular: rome. they blame the government from stealing from the industrialized rich of northern italy to finance the poorer south. but the new leader said that rather than breaking up the country. he wants to unite it under his leadership. >> i'm sicilian, but i think everybody, northerners southerners, the french, we all should be united against europe. >> he's the only politician trying to do something for all italians. not only for the northern league league. >> now the most popular right wing party in italy. but they want to appeal from the electorate from all across the country. essentially they want to make the league less northern and more national. >> the northern league is partnering with other right wing movements including the neo- neo-fascist group and france's nationalist group. but many in rome have not forgotten nor forgiven decades of discrimination against southern italians, and the tough immigration

the difference between northern europe and southern europe. >> you're asking him to defend the euro?> i'm asking you to -- you cannot go to a single currency anywhere. you need to devalue because of the economy. >> eq isn't the right medicine for europe but if it's going to take oun the euro it's the only thing we're going to do. the germans wouldn't mind having a weaker euro. this is why it's up 11% year to date and s&p is a flood. this currency war is going to come at the expense of the u.s. u.s. companies are now struggling. 40% of earnings come from outside the u. s. is a strong dollar really in the best interest of the u.s. i would beg to differ. >> therefore we need to do what and how and when? >> right now there's not much the u.s. can do because at the end of the day draghi is doing exactly what they were doing three or four years ago. the u.s. economy came rolling back only because the dollar went down. they are saying you condition stop me from doing it because it's exactly what you did and that's the problem. now this is why oil for the dollar was an important question. be

southern europe is never going to be great, but northern europe, which is where the money and the companiesctually looks a little better. stocks have done rather well. china looking a little better. >> china? china feels like the sleeper story that's the key to the entire collapse in the commodity sector in all of these things. >> shanghai index is just booming right now. so the other one i want to note my favorite actually is india. india. all right. and -- >> i know why you like india. we have modi down there doing the supply side thing. >> all those british colonialists keynesians have been blocking india for 50 years. >> who is going to be the modi for america? if you're of the view and i know greg ip and some others are talking about this, that the supply side in this country needs work who does that work? >> i think we have a lot of modis out there. we have a scott walker modi. a john kasich modi a rick perry modi. a jeb bush modi. i like the gop bench and i think the other team is moving way too far to the left and we can get into that later. >> rick? >> well, i think even when we ge

europe as a patchwork quilt. we are located primarily in northern and western europe and also in central and eastern europe.s is very strong. we are the largest building materials player in poland and ukraine. it allowed us to form a very strong cluster of business in central and eastern europe. we would look to be funded by eu funds, infrastructure growth and construction needs. >> the stock price reacting very nicely this morning despite the fact that you are issuing some stocks. the market is very happy. some were suggesting that maybe these assets wouldn't go for as much as they were. was 6.5 billion the upper end? walk us through the transaction. >> from our point of view we had been waiting 10 years for this transaction. we have been very disciplined in our investment approach. we've taken a very measured approach to acquisitions. we kept the balance sheets ready for a day like today. what we have is an unusual situation of de-consolidation of assets in our industry. it is the way they fit with our businesses. there are four distinct platforms of business. in north america and canada, we see an opport

around the great lakes, lake eatery, the seaway is the shortest the strengths -- distance to northern europeconversion statements are being placed on the east coast and the south. i'm all for that. but they are the shortest distance to europe in our region and i keep asking the question. to the east coast by either pipeline or train, or can we use that the -- speedway system into the ports that really need it? i remain interested in the issue as a member of the appropriations subcommittee there it i think what you say about drilling, the president has actually implemented executive actions that we are now producing more oil on federal lands than ever before under his presidency. it is one of the reasons you are seeing an unusual aberration in the gas market, where prices are coming down in our country because other countries outside our borders are pumping more because they see that we are now bringing up capacity, as well as canada is doing the same, that will create a different scenario in this century for the world energy market. i cannot wait to get there fast enough. host: a vote on key

. >> reporter: this is the northern league. the anti-europe anti-immigration party held a rally where they are least popular: rome. the party has long blamed the capitol and the centralized government of stealing from the industrial >> monday, a climate emergency. >> so a species could not be here in ten years. >> nasa steps in to help protect the future of the planet. >> the tropics regulate our climate. >> "techknow" heads to costa rica to see how one rainforest is fighting back. >> wow! some of these are amazing. >> "techknow's" team of experts show you how the miracles of science... >> this is my selfie, what can you tell me about my future? >> can affect and surprise us. >> don't try this at home. >> "techknow" where technology meets humanity. monday, 5:30 eastern. only on al jazeera america. he's out there. there's a guy out there whose making a name for himself in a sport where your name and maybe a number are what define you. somewhere in that pack is a driver that can intimidate the intimidator. a guy that can take the king 7 and make

. >> generally speaking we're lending in northern and western europe so we have fully deployed officesndon frankfurt, stockholm, paris, madrid amsterdam. generally it's a great business regardless of the industry. >> looking at your leveraged ratios also about the southern part of europe it's still very high. also when it comes to company debt. are you concerned? are you picking and choosing companies not leveraged? >> clearly what we are paid to do is to be selectors of risk but we get asked are we taking risks that the banks don't want to take? we're taking risks the banks can't take. it's a question of our ability to effectively price and structure risk that the banks can't do because of capital issues or capital constraints. >> what do you make of all the political turmoil we are having in the euro zone? do you understand it? don't you care? what's your attitude? >> we absolutely care. we globally manage close to $90 billion of global assets. it's in the euro zone so we are laser focused on what's going on. our hope and expectation is we'll get resolved and all go about our busines

. >> reporter: this is the northern league on offensive. on saturday the anti-europend anti-immigration party held a rally where they are least popular: rome. the party has long blamed the capital and the centralized government of stealing from the industrialized rich north of italy to finance the poorer south. it's new leader says rather than breaking up the country, he wants to unite it under his leadership. i am sillian, i think all should be united against europe sill. >> the only politic trying to do something for all italians. >> if he was elected leader of the northern league in 2013 -- when he was, the party increased from 6% to 30%. it's now the most popular right-wing party in italy. the but the city wants more. it wants to capitalize on anti-immigration sentiment to appeal to the electorate from all across the country. essentially, he wants to make the league less northern and more national. the other right-wing movement including the new fascist group and france's national group but many in rome have not forgotten nor moreforgiven decades of discrimination

joined now by wayne of northern trust asset management. he is the c.e.o. for europe and asia and helps manage 900 billion dollars. you look at a situation evolving in eastern ukraine. you said the conflict seems to be happening through the financial sector and sanctions. if these talks draw an end with the failure, for you, what is the risk of a postpolicy mistake? >> i think there is definitely the potential for more isolation and the it has not the you congratulations and russia -- on the ukraine and eastern europe. their allocation to merging markets is developed. in an era of low risk, low returns, low interest rates investors are hungry for yields constantly. there is a challenge to that. >> when you look at this geopolitical variable, that we haven't had to deal with for a number of decades. last year it was easy to understand for the market. you battered the dax. now it is not so straurd. -- straightforward. the european markets. is it a sign of complacency? >> yes. one is the big wakeup that the market had semiweeks ago. wasn't an emerging market risk. it was

europe. look at this perspective around northern spain, start you off there, because impressive snowfall across. one of the biggest we've seen in some time across northern spain. parts of the region had been left completely isolated. driving almost out of the question in this area as well. even walking a little challenging, those braving the elements here. and that storm drops in across portions of the western mediterranean. from albania toward greece about 150 millimeters, so we're talking 6 inches since last thursday in the way of rainfall in this region. look at the end result. want to take you to bulgaria the flooding remarkable. we've had hurricane-force wind gusts to speak of as well. the country's coast, some of the rushing water has forced dozens of homes, cut off villages and towns. at least two people have lost their lives here and several others are missing. of course this pattern really just a mess in that region. the southeastern part of albania, the river overflowed. some villagers were rescued and taken to safety but there were high livestock losses. more rain expected through th

europe. they're going to try to flood as many militants across northern africa, a short ride across the mediterraneanby the way, what was our plan after gadhafi was ousted? has anybody seen a plan what to do? it is now the wild west there. meanwhile, david axelrod is on a book tour and he had a chance to sit there at the university of chicago and take some questions. interesting take on the six years that he's noticed and been a part of most of them with the obama with us. >> it's interesting that the setting was at a university because he clearly didn't study. he claimed here the administration hasn't had a scandal in over six years. listen to this and then we'll fact check. >> proud of the fact that basically you've had an administration that's been in place for six years in which there hasn't been a major scandal. >> okay. i'm looking, i asked you a couple minutes ago to e-mail us with some of the scandals and i just got this. this guy, david axelrod, thinks there were no scandals in the last six years. must be using common core math, from thomas cruz. maybe mr. axelrod simply forgot about these b

northern hemisphere. you've been seeing record breaking temperatures, what i want to mention here across europe, you've been seeing the jet stream dip down parts of northwestern africa we're looking at some fairly heavy snowfall. let's go to video we have coming out of morocco. you're talking about the sandy beaches along the west coastline here, but the mountains recorded over a meter of snow on sunday. workers in the highlands were isolated for five days due to these blocked roads, the winds were not helping them to clear their way. they haven't seen this much snow in recent years out here. definitely a very unwelcomed sight. fake a look at the satellite imagery, this is from back on sunday. you have the cooler air coming up the north. it dumped it off here, and ran into the mountains also. by extending off there toward the east. now, here on wednesday, we're seeing a similar setup. we have a low back over italy, that's wrapping in that cool air yet again. i think you're going to miss out on the worst of this you're going to be looking at that threat of snowfall out here. as far as italy and over to the b

europe. the germans have reached a point where they need to draw a line in the sand. northerns generally feel that way. for the future of europe and the good of europe, there probably is a need to put a line in the sand. otherwise, there is a risk that if the greeks can get away with it, so can we. if you look at the pain the irish and spanish have taken, and what it has meant to growth rates, they deserve rewards. why should they be given a free pass when the irish and spanish have worked just as hard and taken as much pain? >> do you worry we could not understand how the impact will be manifested? does it have a potential for a lehman moment? >> the big risk of unintended consequences is if people given to greece and give them a free pass, the anti-european parties across europe will really sees that. there will be a huge swing. saying, we are waiting -- why do we continue to do it? you will get it in the u.k.. it is an incredible boost. if they do not get bailed out i don't think it is a boost at all. it goes the other way. people saying, there is discipline in europe. brus

a lot of northern europeans generally feel that way. i think for the good of europebably is a need for the line in the sand. otherwise the risk is, if every country says if the greeks can get away with it, so can we. when you look at the irish and the spanish to go for austerity programs, and what it has meant to growth rates in those countries -- they deserve their reward, they worked for it and why should the greeks be given a free pass when the irish and the spanish have taken just as much pain? >> guy johnson joins us now i got to listen to a lot of the interview, fascinating stuff. we had a lot to say. >> he talked a lot about bouncing back from the mi putting his own money to work. whether or not that is a response that he struggles to raise money because he is in the penalty box with emi, he is not convinced, he says he just needs to get back to basics. he is working on deals that are 10 years plus, he says he will be around for a long time. most private equity guys are out of the business by 60 and he sees himself working to 70. he says he has plenty miles to

copenhagen and the bar mitzvah and synagogue, and now a cemetery desecrated in northern france how risky is it to be jewish in europes no question that this is a frightening time for jews in europe. the level of anti-semitic advance, the ransacking of jewish gravies is jewish graves is really frightens. this is not what the jews faced in the 1940s because today you have democratic governments in places like den marks and france trying to protect you. it's not always doing so effectively as you might like but we do not have governments perpetrating the attacks themselves. still, that's cold comfort for those jews that don't feel safe going to synagogue, going into a kosher shup kosher supermarket or in another jewish market in france or anywhere else. >> what would be the motivation for benjamin netanyahu to say to come do israel? >> well israel is a country that has flourished because of jewish immigration and has always wanted to make the case that jewish life was better safer in a jewish state. i think the best response to benjamin netanyahu came from shimon peres when they said they love the idea of living in isr

here in europe we're looking at a high pressure system dominant across this continent. very unstable central mediterranean, down into northern africa. wet and windy conditions as well as norway with blowing snow for you out there. the areas such as turkey and greece, we're looking at snow to continue throughout your workweek. i leave you now for your extended forecast. >>> that's all for this edition of newsline i'm catherine kobayashi in tokyo, thanks for joining us. ó >> terror in west africa -- large swathes of northern nigeria are firmly in the hands of the islamist boko haram movement. the militants' brutal reign of violence is threatening to spill over into nigeria's neighbors. that's one of the topics on this week's edition of "global 3000." i'm kate laycock. welcome to the show. which is looking something like this. africa under siege -- who will stop boko haram's deadly advance? a river runs through it. new hope for indigenous people in peru's embattled amazon region. china gets its skates on -- or its skis -- in the race for

europe now, a quick look across these areas. as you can see the spirally clouds still lingering. heavy snowfall in northern italy up to about 60 centimeters is still likely and gusts could reach 165 kilometers per hour. we have a report of 185 kilometers per hour across these areas. that's likely to continue and the avalanche risk is still very high. these are your temperatures. looking like high pressure system is predom nanltinant in stockholm. i'll leave you now for your extended forecast. >> that's all for this edition of newsline. thanks for joining us. ♪ >>> this is guijie street beijings largest gourmet district. more than 100 eat ris and bars line the 700

europe now, a quick look across these areas. as you can see the spirally clouds still lingering. heavy snowfall in northern italy up to about 60 centimeters is still likely and gusts could reach 165 kilometers per hour. we have a report of 185 kilometers per hour across these areas. that's likely to continue and the avalanche risk is still very high. these are your temperatures. looking like high pressure system is predom nanltinant in stockholm. i'll leave you now for your extended forecast. >> that's all for this edition of newsline. thanks for joining us. >> garrison keillor: maxine kumin lives on a farm in new hampshire where she breeds arabian and quarter horses writing poetry, four novels, more than 20 children's books. she says, "i don't want to write poems that aren't necessary. i want to write poems that matter." >> this is a little one called after love. afterward, the compromise. bodies resume their boundaries. these legs, for instance, mine. your arms take you back in. spoons of our fingers, lips admit their ownership. the bedding yawns, a door blows aimlessly ajar and overhead, a plane singson

before 6:00 following breaking news from europe. 200 people have died in freezing temperatures in the mediterranean sea. the victims were migrants from northern africa picked up by rescue boats but still died in the cold. another rescue boat is still missing and there could be more victims. we'll keep you updated. >>> and ten minutes before 6:00 we'll get a check of traffic to see if there are any problems out there. >> jillian mele is watching that for you. >> good morning. skyforce 10 is on its way to this accident on the route 30 bypass past route 340. take business route 30 if you want to avoid that area this morning. the eastbound side of route 30 bypass is looking good. majors around philadelphia in and out of center city are starting to see congestion on the roads, but no accidents on roads like 76 and certainly no big delays just yet. just pockets of volume. that's the eastbound side of 76 near spring garden street as drivers make their way through the area. >>> and the faa is investigating a series of close calls between passenger jets and some unmanned drones. >> one of those radio controlled helicopter things went right over the to

europe. wrapping things up with a look at east asia. we had some very windy conditions reported from the northern portions of japan. sliding toward the east as that low pressure system responsible for that. that's not the end of the story. another pair of low pressure systems coming out of the korean peninsula and into western japan. bringing some rain maybe some snow fall into places like south korea as we go in to the next day. so looking out for that with some instability reported down toward the south of china, so looking out for some showers into places like taipei. chilly weather for tokyo. high of 6 on tuesday. hope you have a good day wherever you are. here's your extended outlook. >>> kei nishikori of japan has done something no male tennis player has ever done before. he's become the first to win the memphis open tennis tournament for three straight years. nishikori number five in the world rankings faced kevin anderson of south africa. he won 6-4, 6-4 but he struggled to reach the finals. he dropped the first set in each of his previous three matches but managed to advance. this is his first tour victory

europe. >> doorstep to obamacare boko haram and everything they are doing in the northern part of africa. >> there ♪ really evidence to support this, when you speak with analysts outside of intelligence community and inside the intelligence community, what they note is this acceleration the speed at which this is moving. it's almost like an accelerant has been bowered on the fire. think about the attack in australia. now denmark. also this mass execution outside of iraq and syria. the feeling is, that there will be something inside north america. a major attack before the end of the year because of the speed at which this is moving. >> of course, we are looking at this map right now, it shows how close libya is to italy. and, of course, this is now, you know, this our version of homeland security has done an interview with a major newspaper, they are staying e wants nato to intervene. that's pretty clear evidence that they see the threat as credible. >> of course, that map didn't even though iraq and syria all lit up as to what is going on there. catherine, thank you. >> you are welcome. >>

europe. >> we obviously tend to prefer the northern as well. we would be quite hesitant in greece but we did look at opportunities in portugal for example and over a year ago we did something in italy which may not be geographically we're talking about but is more volatile. we're able to find something at a more attractive value queue wags which is priced for the risk and we're getting a very good return. i think you have to pick your spots but there's deals to do all over. it's hard with supreme volatility. >> do you think that this exist tendency is here to stay? so more and more we are going to see more and more exits or will we see a reversal of the trend. >> you're going to continue to see exits because these are favorable markets and all of us are working hard at the close we're all paid to invest as well. we're looking for new opportunities. i think probably 2014 was an extraordinary year because there was still a lot of different interpretation of how the bank rules, the debt rules were enforced in the u.s. and so you saw leverage packa