george osborn told european finance ministers that the bureau needs to get the house in order. >> here they come. ed >> no. >> wellcome. >> it is just nine years since i've watched the first notes, now in the middle of a euphoric crowd. now the euphoria has stopped. ed there is a credit problem of the court. last year showed the fold, bailout, and contagion. the pictures showed anger and unrest. will this be the make or break year for the -- the euro? >> europe's problem countries are still giving cause for concern. greece is struggling to meet the conditions of the bailout. social unrest is rising. ireland -- its banks have been facing penury for a generation. the country everyone is worried about now is spain. over the next three months, spain and portugal have to raise 225 billion euros on the bond market. both countries have been downgraded by credit agencies. spain's problem is not its deficit. it is lack of growth. high unemployment. a collapsed housing market. shaky banks. spain is certainly to come under pressure just as greece and ireland did. you could write the script for th

chancellor george osborn recognizes the cannot prevent billions of pounds of bonuses being paid out by the banks, which were rescued from collapse only two years ago by hundreds of billions of pounds in loans and investments from taxpayers. investment banking has been a less profitable people business for banks in 2010 than in 2009. royal bank of scotland may pay near 1 billion pounds in bonuses. barclays may award 5.5 billion pounds in salaries and bonuses. numbers indicated there would be paying out to global employees of the investment bank. even if bonuses are cuts, investment bankers have still enjoyed fixed salaries of up to 40%. >> at a time when most british people are suffering a squeeze in income, not everyone thinks bankers should be squeezed. >> according to the banks, banks historically paid a lot of corporate tax. now they're facing a lot of losses. that will take awhile to come back. we could lose a massive amount of revenue through the treasury. we all suffer for that. >> when the bonuses are paid, some want a new tax on them. >> we are calling for a tax on bonuses to s

. >> when no one of the super bowl ads that ozzie osborne and justin bieber are teaming up for best buy. >> this is best buys venture to super bowl commercials of what it tells me is the week of desperation in the sense of bringing in justin bieber who you have to have bieber fever. he's a 16 year-old kid to pay $750 for haircut. more than jacqueline bennett. $750 a pop for hair cut long story shot short it's all about getting kids and best buy. if you go with the best buys a lot of old trolls going and looking for tvs and refrigerators. if they want kids coming in buying apple gadgets and your and sodas and other things there are other than the tvs. the trying to bring in a new audience >> ozzie is there for everybody else and justin is there for the kids. that's is doing well profits around. >> their stock was up 3% last year, i will with the stock last year and i recommended it to dreaming movies to tvs is awesome than we made 45 million that's not a lot of money for a company that's worth 10 billion. yet the stock continues to march higher i'd say show caution but it's a great trend

. >> earlier, i spoke to andrew osborn in moscow.ith authorities calling this a terrorist attack, i asked him who they thought maybe behind it. >> well, as the reporter said, i think thathe single suspicion will fall upon the islamist radicals, the islamist terrorists that are in the north caucuses area of russia. they want to establish sure in -- sharia state in that part of russia. the have been waging a campaign of violence for many years now in an attempt to achieve that. they have been the people who have been carrying out these kind of attacks russia. we do know that the police are hunting for three men who are from that region, which confirms the theory that they are the pele who are behind this. >> tell us more about the airport. why would it be a target? >> well, it has been targeted before. in 2004, two female suicide bombers bribed their ways of two airplanes and then blew the mother. it is a symbol of modern russia. it is a modern airport, the best airport russian has. it is the busiest rpt. 50,000 people use it every day

when i was sitting next to george osborne and the former german. girl rings former air ministry of berlin which is now the finance ministry and it worried me there in those many years ago just before the euro was was launched because they were denying it was a political project and it's always been a political project and that is dangerous because you cannot throw billions or hundreds of billions even after a political project the markets aren't interested they see through it they will bring it down and that's what's going to happen. columnists there are different views different overtone of what could happen but what i'm saying is the euro in its current form i believe will collapse i think you may get another euro re arising but with a stronger nation such as germany possibly france. belgium may be working together a different euro for the future but i think the euro in its current form will collapse you cannot push water uphill you can't make pigs fly you know your own really is fundamentally unsound it goes back to the point i made that you're

i've learned that chancellor george osborn recognizes he cannot prevent billions of pounds in bonuses being paid out by the banks, which only two years ago were rescued from collapse by hundreds of billions of pounds in loans and investments from us, the taxpayers. investment banking has been a less profitable business for many banks in 2010 than in 2009. bonuses were expected to decline in any case. royal bank of scotland may pay near 1 billion pounds and the bonuses compared to last year's 1.3 billion pounds. barclays may reward 5.5 billion pounds in salaries and bonuses when the results of the of the first nine months of last year indicated it would be paying out to global employees of its investment bank. even if bonuses are cut, investment bankers won't necessarily be worse off because many of them have enjoyed of rising salaries between 20% and 40%. >> at a time when most people are suffering a squeeze in income, not everyone thinks bankers should be squeezed. >> employees pay a lot of income tax. banks historically pay a lot of corporate tax. right now, there having a lot of lo

we're headed down the roads of a greece or ireland. >> it was very interesting because george osz osborne was in new york and had a pretty rapturous reception and he pointed out that the simpson/bowles plan is not that different from what the u.k. government is trying to do right now. it reese roughly speaking three quarters spending cuts, one quarter tax increases. and many outlines are quite similar. so as senator gregg says, there are templates on the table, the question now is are they going to fly. >> rose: congressman mccotter, what did you think of the simpson/bowles deficit recommendations. >> i ties in what w what we've been saying before. the question is about austerity and painful spending cuts. but what people want to know is towards what end? are we talking about still working within whether the great society modern of governance from an industrial is this big, is it this big when the reality is, as we many michigan understand from what our auto companies went through, what our families have gone through, is that the age of globalization, the communication revolution in which

justin bieber is coined to be with ozzie osborne. ed came crashing in, she will be in this plot for sculptures. she will be breaking it somebody's party in front of the hundred million be yours. you have seen heart in u.s. magazines with those stickers that say it good for your back. on the day that whole lot to remember ted williams? he was homeless and discover credit good boys? he just checked himself every have? the attendees to sleep on is on ebay. seven bits: " $150. the techies to sleep good. i guess it it was an old buddy up his that got a hold of this they get is putting it up for auction. kinney see this side? he has a couple of signs he's too panhandle with and they might show what he bail later to. he is not going to keep the proceeds. it will go to a homeless theater. >> this man jumped out of a moving patrol vehicle while his hands were cuffed behind him. there he goes. he was being driven to salt lake county jail. the officer opened the back window all little bit and there he goes. he jumped out of the window. his hand

. >> earlier, i spoke to andrew osborn in moscow.ith authorities calling this a terrorist attack, i asked him who they thought maybe behind it. >> well, as the reporter said, i think that the single suspicion will fall upon the islamist radicals, the islamist terrorists that are in the north caucuses area of russia. they want to establish sure in -- sharia state in that part of russia. the have been waging a campaign of violence for many years now in an attempt to achieve that. they have been the people who have been carrying out these kind of attacks in russia. we do know that the police are hunting for three men who are from that region, which confirms the theory that they are the people who are behind this. >> tell us more about the airport. why would it be a target? >> well, it has been targeted before. in 2004, two female suicide bombers bribed their ways of two airplanes and then blew the mother. it is a symbol of modern russia. it is a modern airport, the best airport russian has. it is the busiest airport. 50,000 people use i

who decided that george osborne would be the exchequer? >> the prime minister. entirely his decision. >> how many jobs does the prime minister fill? >> about 100 appointments. >> do they all come from members of the house of commons? >> yes. >> if a particular prime minister wants them, he puts them into the house of lords, which he can do quickly. >> what is the restraint on the number of people you can put in the house of lords? >> there is no real restraint. you would be very much criticized if you put too many in, as mr. brown and mr. blair are criticized today. but there are no legal constraints. if they have the nerve to do it, they can do it. >> how long is your assignment as a lord? >> for life. >> for life. >> the two categories of the people in the house of lords in my time have been on a limited tenure, the church leaders. the bishops have to give up when they cease to be bishops. the judges as well. our supreme court was a part of the house of lords up to two years ago. they have now moved out and they no longer sit as members of the house of lords.

. >> here, have decided that georgia osborn would be the prime minister of the exchequer? how much appointment power does the prime minister have? how many different jobs does he or she fell. he fills virtually the whole of the government. there are about 100 appointments. >> do all of those come from the house of commons? >> if he wants them in, he puts them in the house of lords, which he can do quickly. >> what is the restraint on the number of people you can put in the house of lords? >> there is no real restraint. you would be very much criticized if you put too many men. as mr. brown and mr. blair or criticize today. but there is no legal restraint. if they have the nerve to do it, they can do it. >> how long is your appointment as a lord? >> for life. the two categories of people in the house of lords in my time have been on a limited tenure. the bishops have to give up when they cease to be bishops. because our supreme court was part of the house of lords up until about two years ago, they have now moved out and they no longer sit as members of the house of lords.

osborne. now if i could ask mr. turmonte to come up. keep the time. >> tell me to stop the watch. thank you to everybody. it's a great pressure for me to be here again. this is on the economic policies for war to come. let me start with the gist of it. by the way, a very short this time. if i look back, back to three or two years ago, at the beginning of the crisis, i remember my initial position was quite radical. two nationalize banks. easy because of unnecessary, but this was the position. at the opposite, my impression was and is second path to finance ministers meetings with is to take part to some partners meetings of private banks, trying to share philosophies and technicalities and language and characteristics of the private sector. in the way of the process, becoming a blanch of the banking sector. and losing the very function and merits that should be distinctive. the long term action power. at the opposite, sometimes my impression is fear, submission, fellowship, and not leadership. for somebody was difficult to understand the difference between the cycle and the crisis