renzi?ll, certainly hopes are very high, but i think there's a lot of realism at the same time. given how difficult it's been for previous prime ministers to press ahead with reforms. he has a big agenda, electoral reform and economic reform. and he hasn't given too many details about the economic reforms, but i think everybody's clear about what needs to be done there. the question is, can he really push these reforms through parliament? >> if he gets the electoral reform, he's saying he wants to stay until 2008. and if he gets the electoral reform bill through, will we see a spike up in italian assets on that news? >> well, certainly that would be really positive. it would mean that future elections would return much more clarity on the government. you wouldn't have the situation where trading between small parties, you know, happening, informing the government and once the government has been formed, the government previously has been vulnerable to defections and the new electoral process

there will be questions about matteo renzi's legitimacy.the third prime minister to take office without being elected. there are questions about whether they will be elections. they getd change after through this electoral law they are debating in parliament. once that gets through, you could see the government claps --in and elections government collapse and new elections. >> how have markets been reacting to what is happening in italy? >> virtually no reaction from markets. we are out of the crisis mentality. may have more ability and support to push through a reform package that is lower taxes, reforming the bureaucracy. if he can do that, that is what investors want. they also want -- are not terribly concerned about whether the columns are doric, or corinthian. >> it is corinthian. >> marcus helping me out. >> thank you very much, hands. -- hans. guest will be talking about the eurozone.. analyzing the data. -- chiefkets and economist joins us. ♪ >> time for today's company news. estimates for liberty global. was forthe increase acquis

hans nichols is looking forward to renzi's meeting with the italian president. its rainygle buys start up slicklogin. elliott gotkine has the details. is looking at hunters. >> first, italy's democratic party leader will meet with the italian president in what could be the first steps towards a new government in italy. hans nichols joins us with the details. of last week in italy following this story. what are the first hurdles for moscow renzi? >> perhaps the biggest hurdle is the senate. this happens if president napolitano asks renzi to form a cabinet. that is what we expect. he would be the youngest prime minister in the history of postwar italy.

the nine-year-old matteo renzi, who takes -- 20 -- 39-year-old matteo renzi after a part or -- power grab in his own party. the hijacker that forced a plane to land in geneva has been arrested. the suspects, the copilot, was trying to seek asylum in switzerland. compromise ins of ukraine. authorities say they will drop charges against protesters arrested since the antigovernment unrest began. this is after -- after the activists and their occupation of kiev city hall. it has been exactly three years now since a band protesters in benghazi were shot at by libyan security forces. at a marked the beginning of the revolution in libya that eventually top it -- toppled muammar gaddafi. thousands of people gathered last night to celebrate the evil of the anniversary with fireworks, but for many in libya, there is not that much to celebrate. the situation there three years on is the subject of today's inside look. sky and the in the explosions of joy in the street. thousands of libyans gather in tripoli to celebrate the third anniversary of the revolution that brought down moammar gadhafi. t

. >> until recently few people outside italy would have recognized matteo renzi. now he is on course to become the next prime minister and to put an end high-level corruption. >> in this difficult situation, i will employ all of my energy to reform italy. >> previously the mayor of florence, renzi became the leader of the centerleft democratic party in december. at the time, he ruled out unseating the prime minister, but on thursday he did just that when he put forward the motion for new government. critics say the 39-year-old does not have enough experience and will soon run out of steam. his ambitious plans include influencing electoral reforms by the end of the month and overhauling the jobs market. >> we hope that renzi will keep the promises he has made. what he has said so far seems good, very constructive. he is young and very active, so now we need to see concrete action from him. >> they are making us die of hunger. i'm retired and my pension is 570 euros a month. >> renzi is enjoying the limelight, but italians do not have a say in the matter. he is set

option, but ibest don't think we have a choice. >> renzi could be elected on set -- renzi could be appointed on saturday. he would be italy's third unelected leader in a row. >> the president has been meeting political leaders all day. what has come out of those talks so far? >> it is pretty clear that renzi will get the nod to form the next government, but it may take a little bit longer than people were expect them. the coalition that will back him will be the same as the one the back to his predecessor, enrico letta. there are a lot of negotiations going on about who should take ,hich position in government and that made take a day -- may take a day or two longer to work out. >> what can we expect from a government led by him? matteo renzi is often described as a man in a hurry. he has pulled down the government of enrico letta, saying he was failing to deliver, that his government was to thew in reacting country's economic problems. expect newinitely faces in the government, a new look. but above all, swift delivery on his promise will be the real challenge. >> thank you very much for br

renzi will get anything done. of course, renzi is a charismatic leader. to the center right component was. he may get something done. a labor forces reform is very good. a real opportunity for italy. if there are no elections that pressure off of politicians, 2014 could be a year of opportunity. clearly the big risk is if he does not matter -- managed to get a coalition to gather and we get a new election with a law that makes it more difficult for anybody to win this, we see ofther po -- period instability and italy would fall further behind its neighbors with the italy is improving gradually. it only looks so bad because of other countries like spain and portugal and even greece is making more progress. italy is falling behind. it is stabilizing stop >> i'm surprised there's been a very little movement. investors are shrugging this off and the political coup we saw last week. orthere a trigger point because they are behind everybody, italy is in no danger? >> if the ecb is firmly behind everybody is in the question? whether this can really be used at th

renzi is now tasked with forming a new coalition government. the ambitious politician currently serves as mayor of florence, but never in parliament. here is our report from rome. >> italy is betting its future on this man. he is young, and he bristles with energy and ambition. today he drove himself to the presidential palace in rome. he is 39 years old and is set to become italy's youngest prime minister. matteo renzi is not even an m.p. he is the mayor of florence, with no experience in government. now he is tasked with running italy. >> i would like to assure the president of the republic, the political parties and above all, the italians who are watching this government crisis that i will devote all the energy, courage and enthusiasm that i am capable of. >> he reeled off an ambitious agenda, constitutional reform by the end of the month, jobs reform by march. passing is a political outsider, a man who promises to break the caste of old politics, and his lack of experience is part of his political appeal to many italians. matteo renzi's po

renzi pretty quickly. and mr.oni. >> he is the young mayor of florence, they gave him the name -- a big great reputational banner that means the scrapper, the young good looking guy. he says what he means, very much not an italian politician. he is the new guy, fresh blood. letta is kind of the gray lady. he looks older than he is. his uncle works for berlusconi. his father is a mathematician. famous member of his family is a national poet and playwright. and here is renzi coming to scrap. i think renzi is the big winner. >> italian politics are some of the most complicated in the world, certainly in any developed world. energetic -- >> which one do you want? >> both at once. if he gets into power, once he gets into power, is he going to have to change his image? the guy that is pulling the punches is great when you want to get into the position. >> that is a very important question. not only for the reason you asked, but also how he is going to get the power. he has the luxury of being the scrapper in opposition.

do we see him hand over the hat to renzi? people here are telling me they're virtually assured that we see a leadership change for the country right now. interesting to see, analysts say that the more likely option here is a coalition reshuffle. and as, ross, you were saying earlier, why would mateo renzi want to take over right now? he's better off as an opposition right now from within the democratic party, throwing barbs at the prime minister saying why aren't you addressing the crucial issues of this country? the question is, is he going to be any more capable than prime minister enciro letta in reform if he takes the leadership now? i don't think he is. we've got three, seven and ten-year market sales today. very little is going on here in terms of reforms. a leadership change could be a continuous change as far as the party and the coalition is concerned. but things aren't getting done here and that's the problem. but we're still waiting for that summit today of the democratic party. >> jules, stay there on the roof of

and the italian president asks renzi to form a new government. >>> the most comprehensive report speaking of unspeakable atrocities. widespread oppression and torture and crimes against humanity. pyongyang rejects the findings, we have details from geneva. >> reporter: recalling the oppression of family before she escaped. many witnesses asked for their identities to be withheld. there have been many investigations into human rights in north korea, but never one as comprehensive as this. using a clear picture of what goes on in the secretive state, how people cope with depravation and starvation is difficult. the international commission of inquiry finds in massive system of oppression, torture, systemic rape and abduction of foreigners many of these encounters of inhumanity. kim jong-un had executed his uncle. kim, age 31, took over for his late father just two years ago, but the chairman has written a letter to him. it is his commission will recommend the u.n. refer the situation in the democratic people's republic of korea, the country's official name, to the international court to pun

i hope that matteo renzi is backed by the government. questions remain whether his youthful enthusiasm will win over the establishment. economists say he represents italy's last chance to recover. >> 234 some sense italy does everything, and trying a new generation is the last chance for the country. even this chance - if it fails, probably they'll be left to believe there's no way out. >> if on monday. president asks matteo renzi to form a government, he's expected to receive the backing of the parliament by the end of the week. it's unclear how long another government appointed by the president can last before voters demand new elections. >> it's been a tight race for british films at the bafta awards "12 years a slave" the best film. but the best british film went to "gravity." the oscars take place in los angeles next month. phil la velle is with the stars in london. >> the biggest movie stars in the world need help staying smart now and again. hollywood's royalty were over the bafta red carpet. there's your best actress, cate blanch

one of the things renzi needs to do is form his cabinet.es taking a new finance minister. he could also support a potential bid by letta to be president of the european commission in 2014. there's certainly -- the thing about renzi, he's 39, very young, very energetic and ambitious, but does he have the support of his own party. the question is, can he translate that support of his own party into a popular mandate? he's the third prime minister, if he does get the position to be prime minister without being democratically elected. that's really his challenge, finding legitimacy. one way to find legitimacy is to avoid any messy transition problems with letta, so in some ways, now that renzi has ousted letta, rens see in the submissive position because he needs letta on his side to make this transition a successful one. >> hans, great stuff. thank you very much indeed. hans nichols joining us from sunny rome. >> now let's talk tech. japanese onlean retailer is buying the mobile messaging service for $900 million. let's get to ryan for more on

is kindhave from renzi of a series of moves to oust letta.se have from letta is take this road, let's walk very carefully, and letta eventually -- you did not have his party behind him, he saw the writing on the wall, and he needed to resign, and so he tendered his resignation. >> hans, it was such a tumultuous period for italian politics in the lead of four enrico letta to take over. do think this will usher in a new era of political instability in italy? >> that is a safe bet. the question is, markets have been pretty calm brought the day. the question is -- is very split between investors and voters? investors might be relatively calm and almost thankful or pleased, there might be a slight change at the head of the government. the question is, will voters have the same view, and if voters feel as this this were were almost if this a coup d'État, what we will see as the government will then try to govern without any popular support. this will be the third prime minister who is not a democratically elected. unclear how sustainable that is in

>> get ready for renzi. the mero florence meets italy's president this hour and could be named prime minister. >> japan growth disappoints while china's revenue credits boost outlook. >> and "12 years a slave" wins big at the baftas. we will speak to the official jeweler of the awards. good morning, everybody. you are watching "the pulse." we are live from bloomberg headquarters in london. >> also coming up, making a splash on the catwalk. weekr makes its fashion debut. hear from its ceo about taking the british brand global. >> and how not to get burned by a secondhand car. we will talk to an entrepreneur using the clout to stop you from getting ripped off at the dealership. >> we begin with the political shakeup in italy. napolitanomeet with this hour. it could mark the first step towards a new italian government. hans nichols is back from rome with the latest. what are the first hurdles for renzi? >> it has to be the senate. renzi has a complicated task. he needs to form a cabinet and allocate all the pos

. >> matteo renzi has been nominated. the mayor of florence has aftered widespread reform ousting enrico letta. gave the latest a short while ago. tomorrow, officially, he will meet with a different political party, represented in parliament. mr. renzi said he wants to take all the time that is necessary, but recognizes the urgency of the situation. he knows he needs to move fast. he wants the support of center-right parties, including the new center-right party. he is crucial. he said he wants to listen to what renzi has to propose in terms of a program, and is probably holding out for more in terms of negotiation. when renzi does come to power, he has presented a very ambitious agenda, particularly in terms of timing. he says he wants to lay out the reforms. the electoral reform, the labor reform. public administration in april. tax reforms in may. >> he is standing on a platform of change from outside. it is not a shock to see the italian government falling. it happens every few months. >> it still remains to be seen.

it is likely that he will then give a mandate to set up a renzi -- too detail mateo renzi. >> he has been maneuvering from us to become prime minister. looks like he will finally get there. could he be going too fast? >> some say it is too fast. a lot of italians preferred renzi taking on this position through an election. but as we saw from his statements yesterday, he even quoted robert frost, saying that it was a necessity to take the road less traveled and it was time to take risks. and he believes that, even though they wouldn't go through election, changes necessary. s to beket so far seem calm over this change. we will have to see how he will actually form this coalition government as well whether he has the support of the coalition partners. even once he is actually in there, will it be more of the same? we will have to say. italians are very concerned as to what will happen. >> thank you. belgium has just voted to extend the countries euthanasia law to allowed children to request assisted suicide. supporters of the law say it is a matter of compassion. but opponents believe

now, matteo renzi may be. the people just want to vote their own prime minister. that is what letta wanted. he wanted to win the election. his approval rate is strong. first of all he says he needs to change the voting law. as it stands now, it's unconstitutional because ittal yeents vote for their open -- ilialians vote for their own candidate. >> interesting times for italy. >> that report from rome. >> an eemergency vaccination program is under way in northern kenya after a measles outbreak in a camp. the highly contagious disease is thought to have emminated from refugees from south sudan. we have that report from a town bordering the equatorial state of south sudan. >> this mother buried her son on thursday. he was sick sips an infant. he got measles, it weak eped his immune system he could not fight a pneumonia attack. >> translation: he was my only son. i have no husband. i thought hoo wee be the -- he would be the one to get us out of here. >> sick children have to be guarantee eed inside the camp, and the camp hospital. the outbreak of measles has worsene

renzi is hardly off to an auspicious start. vote in the senate yesterday, he won four votes less than mr. letta did. mr. renzi stands or falls by what he does and what he's able to do and what he's able to actually accomplish in the next hundred days. this is an -- he's -- he has -- he has presented an extremely ambitious, overly ambitious, i would say, political and economic agenda. that may, in fact, help him. he set the bar so high, he's upped the stakes that he is almost compelled to get something done. there's an awful lot of hope on this man. >> thank you so much for joining us, nick. still to come on the show, rumors of bankruptcy, one of the most recognizable bitcoin exchanges vanishes into thin hair. stay tuned. ...return on investment wall isn't a street... isn't the only return i'm looking forward to... for some, every dollar is earned with sweat, sacrifice, courage. which is why usaa is honored to help our members with everything from investing for retirement to saving for college. our commitment to current and form

with mateo renzi, we have kind of an italian tony blair. if anyone is going to turn things around, he has to have the chance to try. because italy really needs major reforms. >> the third prime minister in a row who is nonelected. you interviewed the ex prime minister monzi. you say outrage in italy was more than anything, the end of democracy. do you think democracy has been sacrificed for the sake of stability? >> i think we have to distinguish between what's happening now, which is essentially a popular leader, taking over from a fellow the brits would call wet or weak, since 2011, what we revealed in video, i documented in video, the president of the italian republic is supposed to hold elections, and the resignation only came in 2011, monte confessed on video that five months before he had already been having conversations and asking advice of people because nanapolitano had offered him. the president of italy is entitled to talk to whoever he wants to. but unfortunately the president on february 5th went to strassburg and said, i neve

business is very pro renzi. they thought he was going to be more able to push through reforms, stimulate exports, deal with bureaucracies and anybody else. there's a lot riding on his shoulders. >> there is a lot to do. he is very keen on pushing in the direction of the new electoral law. and that's what is going to show already next week. next week, we have the voting for the electoral law and this is kinds of one of his main creation. he was pushing with berlusconi in the direction of this reform. everybody knows that italy cannot go into early election this year. they have, you know, to pass and italy will be at the presidency of the eu in the second half. so renzi has a bit of time to build up the structure of these reform process. and the electoral law will be the first step. and then he can go in the direction of some stabilization, more reforms to cut unit labor costs for italy, which is one of the main weaknesses that we still have compared to other eurozone countries. thanks so much for joining us. mark

renzi establishes legitimacy? it is being called a soft coup.sconi allies and berlusconi papers are criticizing it as a coup. the question is, will you be a legitimate italian prime minister? francine? >> the markets are up on the news. is this because they do not see it as a change because there is so much instability anyway? or is it because they see matteo renzi as a guy that will push and structural reforms? >> in some ways you're seeing the markets react positively this morning perhaps because renzi is in a better position to advance reforms that may be needed to make structural changes to the economy, structural changes to the bureaucracy. that is why you may be seeing a little bit of investor confidence this morning because there is a sense that letta's government was stuck and could not do the reforms that were necessary to heal this economy. >> they do so much. hans nichols. he has been covering the white house for a decade. i bet he has never seen politics italian style. ,on't let us is paolo scaroni one of the biggest business names i

mateo renzi expected to be the next prime minister. a former boy scout, he made his first appearance on wheel of fortune in 1994, and since then, luck seemed to be on his side. he rose to governor. if pointed prime minister, he will be the first to be appointed by the president >> i think that renzi portrayed trust. and he disappointed the majority of those who would have voted for him in the next elections. right now, we need a young leader, i hope that the government gets us out of this mess. >> reporter: politics won over the lectorate. and questions remain whether his youthful enthusiasm will manage to win over the establishment. he represents italy's last chance to recover. >> italy tried everything, and trying a new generation is possibly the last chance. and if this chance fails, then probably that's what leads to believe there's no way out. >> reporter: if on monday, the president asks renzi to form the new government, he's expected to receive the backing of the parliament by the end of the week, but it remains unclear how long

what renzi is creating here, distrust between the two parties.hen they met yesterday, lett seemed like a man who could envision leaving government. >> i lived every day as if it was my last one. brought elevation change after just two or three months. i had to follow the development of the situation step by step very carefully. letta said he didn't know if he still has the support of his party. the party will be meeting later today. this is really a question of what happens next. one thing we haven't really seen much movement in the bond market , and the stock market as well. there doesn't seem to be that much of a pricing in of political risk. >> i wonder why that is. i wonder why the markets are the shrugging it off. what did enrico letta proposed to matteo renzi? is he trying to find some kind of agreement? >> what he is trying to do is make his case that he has an economic plan going forward. once they get rid of this political instability, here is what he wants to offer. a payroll tax cut, budget reductions, ways to strengthen the legal syst

renzi faces his first confidence that.e expecting numbers to be behind him because he has just unveiled the cabinet. talk to us about the cabinet. how important is it that these are the right guys to push the reforms through? >> obviously, mr. renzi is putting quite an ambitious program together. he has talked about reforming the labor market, changing the electoral law. in 100 days. not an easy task. he has tried to choose a very young cabinet, a small cabinet, 16 ministers, half of whom are women. clearly, the common theme is used, lots of energy -- youth, lots of energy, enthusiasm. he is not going to have a big majority in parliament. he is not going to have that much time to get these really tall tasks done. vote, he is going to outline his program. what will the key points be? >> i think he is going to reiterate that italy absolutely has to change the way that it elects parliament. he is going to focus on that. he has proposed also eliminating the senate, which is now the upper house of parliament, and turning it int

matteo renzi won a confidence vote. legislative priority, in a speech, renzi said lawmakers should do more to end the stagnation. we believe italy desperately needs to regain confidence to access critical situation we are in. this a blighted country left in a sidewalk is constrained by a suffocating bureaucracy. the german exports surged the most in three years in the fourth quarter boosting and expansion in the largest economy in europe. in the fourth quarter confirming an earlier estimate. it was supported by investors. off-line ahange went day after its ceo resigned from the foundation. efforts to reach its website director uses to a blank page. they said this month is identified with a bug that left it vulnerable. he distanced himself from the company as sought to reassure users of the virtual currency. black phone is the smartphone in a post snowden era developed in response to the nsa spying cabrillo -- revelations. the first to run free of carrier and vendors. make and users to receive calls without being spied o

renzi end of the week, had set out as is smaller than the previous one, and younger, too.overnment now faces the challenge of over handling -- overhauling italy's economy. >> germany's coalition government had to deal with its first major row this week since taking office last year. the heads of the three parties met as a scandal over child photography for fused to go away. the conservative's cyberculture minister stepped down after telling the social democratic party that one of their lawmakers, sebastian, was being investigated for ordering pictures of prepubescent boys. the agriculture minister was accused of a breach of confidentiality will stop since his resignation, arguments have been raising about who is to blame and to walk to lose their job. to lose theirht job. >> a plan landed in geneva excitedly on monday. the ethiopian airlines flight was meant to be heading to italy. passengers said that somewhere over sudan, the copilot locked the captain out of the cap and influence that to switzerland, where he asked for asylum. safely. landed the copilot is now in custod

what will happen is conversations between renzi and the other parties. ce is justof floren 39. -e wants to stat -

renzi wants to win party leader's support for his political program.verhaul labor market and change a country's election law on the first 100 days of his of estrogen. >> opponents of ukraine's government are marching on palm and today -- are marching on parliament today. >> japanese stocks close higher to ¥7 trillion. individual banks can borrow twice as much low-interest money. the move underscores the pledge to do whatever's necessary to lift the country out of deflation. about how the markets are trading. let's find out what else is going on with manus cranny. squeeze iske trumping ease. european equities are dying. and -- equities are down. we come in at 1.9%. we still have inflation, but it is declining. in germany, confidence heading nothing lasts forever. move the money people of the bank of china to get a hold on rates and what is going on is trumping. the desire by the japanese to actually add stimulus or show momentum in that direction. are prepared to lend more money, but is that to move the currency rather than the reality of lending more t

what should renzi do in your mind?e has all kinds of plans but if you were sitting at his side advising him on what he should do and how he should make the italy has, what would it be? >> look back at the industrial base. you have to play to the strengths. everyone talks about creative economies. here is a country which truly has a great foundation for one. he has got still an extraordinary design heritage. we are not just talking about fashion, but furniture, aviation. i would build on those centers of excellence. i would look north to austria, to germany, to switzerland. one of the things the country does need when you look at the youth unemployment rate, it needs a proper apprenticeship culture. the you see with all of teutonic neighbors. that is key. if you look at the industrial heartland of the country, it is there. that needs to create south as well. family ask about the being a big part of the industrial base and. families can be an advantage and a disadvantage. they are clearly an advantage in as much as you h

renzi to form a government. what is the makeup of his cabinet? he will face challenges in the upper and lower houses of parliament and the challenge will be in the upper house and this is. what can you do to appease various factions to vote for him. if you don't, you have snap elections and that is an outcome they do not want. he wants to serve as the prime minister until the end of parliament in 2018. that would be the third prime minister was not directly elected by the people. in a tient turnover and prime ministers, let us say. italian prime minister's, let us say. a base of have support and is a populist politician. seessconi admires that and a bit of himself. they are from different parties and he is 39 years old. decided to work together on the electoral reforms. after that, all bets are off and if the government crashes, it will be after he and berlusconi passed through a parliamentary change and that could get you closer to a two-party system. i know you are firmly a parliamentarian and a three party man. we will not even begin to open d

a propose tolett renzi? >> we don't know the exact details. therwards, letta goes to cameras and gives his new economic proposal. here is what he is talking about, a payroll tax cut, budget reductions and ways to strengthen the legal system. one final note, investors don't seem to be worried. bond levels are at historic lows even with public debt at around 133% of gdp. youth unemployment at 40%. what enrico letta's argument is, is that he is the best person to stay the course and get the economy back on track. >> thanks, hans nichols live in rome. >> a bloomberg exclusive, the french finance minister is currently in the united states with president hollande. he told our chief washington correspondent peter cook that france is open for business. >> this country, our country, is back on track. we are in the innovative creative country and we are open to business, to foreign business. i say, welcome to american investment. already, two companies from the u.s. hiring about 500 people in france -- 500,000 people in france. we have got 60 billion eu

renzi's four-point plan for italy.ow how the eurozone, how the eu stands on rome and on italy. but what about mr. renzi? what's his stance versus the eu? it's quite interesting, carolyn. he has actually said in the past that he doesn't believe italy is sticking to the 3% deficit is the right way to go. he believes there should be some flexibility there to introduce and allow the structural reforms. so it makes his choice of an economic minister crucial for whoever has to come to brussels on a monthly basis and negotiate and talk to those people there. but what we're focusing here, on, over the next few days is the critical elements of pulling a coalition government together here and deciding just who is representing what in the cabinet. and then we'll get a great sense of leverage we've had, what concessions he's had to make to the individual parties. we know the new center right has suggested that without them, this coalition government isn't going to go ahead. and what we've heard in the last couple of days, and even

. >>> 39-year-old mateo renzi is looking to build consensus government. renzi is replacing enrico letta. >>> venezuelan president is expelling three united states diplomats. >>> venezuelan foreign minister gave a press conference and here's what he had to say. >> translator: in light of these acts of aggression, of these fascist like groups who are supported and financed when i will give evidence and proof of this. but from u.s. government institutions, we have received broad support, and so many dater from the international community. more than 20 countries have taken a position in favor of democracy, stability and peace for the venezuelan people. >> the venezuelan government has issued an arrest warrant for those rallying against the maturo administration. >> time and patience are in short supply for most of these venezuelans who said they are fed up with nicholas maturo and his revolution. >> we are tired of crime, censorship and people getting killed every day. >> reporter: but even as they stood together, some questioned how eurched they really are -

. >> it looks like it is renzi who is going to replace him. we have this report. >> the italian prime minister headed for the presidential palace to tender his resignation. one day after his own party pulled the plug on his administration. his inner party rival is expected to take over the reins of government. he has been blamed for not doing more to jumpstart the struggling economy. >> i say italy needs radical change. we need a new government if we want to get out of this quagmire. >> the leadership -- under his leadership italy has passed a number of reforms and rome has managed to cut the deficit in budget under three percent. there is little change apparent on the ground. after years of depression they are still plagued with problems. unemployed and has surpassed 12%. am i and people that figure is 40%. millions of frustrated italians have watch their lending standards -- living standards drop. >> italian politicians, they ought like children. at all levels at the government. if they were mature they would not create all this anxiety. all

after defeating the party for the opposition, matteo renzi is under acute pressure. he seeks to win a confidence vote in his newly installed government. our rome correspondent, seema gupta. >> today it will be the senate. on tuesday it will be before the lower house of parliament. in both cases, he is looking for a confidence vote. for now, we know that he is backed by his own democratic party as well as the small, new, center-right party, and some other smaller groupings. it appears as if he will have enough support in order to get -seatajority of the 320 senate today. most will be looking at the size of the majority. will it be similar to the one of his predecessor, enrico letta? there are concerns within his own party. the more left-wing members within his party are not exactly happy with the way in which he came to power, the fact that it was done through this so-called backroom coup. others are not exactly happy with the fact that he struck a deal with the disgraced former prime minister, silvio berlusconi, on the ways to reform electoral law. we will have to se

he said that renzi is the business and broker's candidate. they think he'll make a difference. the stock market turmoil we've seen has not happened. the brokers and the businessmen like renzi so they feel he's going to start cutting taxes, making sure he gets an increased revenue by making cutbacks elsewhere. i don't know if that's going to go over well, but the businessmen at least think he has got the guts, and he's young enough to make sure that he reaches ambitiously for those targets unlike the politicians who have been too involved in the coalition to get any real results from the italian people. >> thanks very much, indeed. anti-government protesters in the center of the kiev, wants opposition to live barricades and leave occupied police station by monday. protesters are digging in, among them a growing women' brigade. >> the 20-year-old have come to join the revolution. the protester command center all recruits are vetted. an unlikely new member of the opposition women's brigade. >> the first time i see how they burn and how the police attacked them, after that i just w

matteo renzi got through the senate.less than his predecessor, he is going through. >> thank you. that is it for "the pulse." "surveillance" is next. ♪ >> this is bloomberg "surveillance." markets climb walls of worry amid tepid economic growth. is not just down. enthusiasts regroup. a challenge for retail. good morning, everyone. live from bloomberg world headquarters in new york. i am tom keene. joining me is adam johnson and alix steel. scarlet fu off today. the coin.never had >> i have never had bitcoin, and i never wanted it. >> time for morning briefing. stocks dropping the most in five months. humbling to the lowest level in more than three years. exports rising, the most in three years in the fourth quarter. we have economic data. 9:00 the case shiller home price index. 10:00 consumer confidence index in

what have people been saying about the potential of renzi as prime minister? >> well, they haven't heard much from the politician so far, it's been a very long day for the 38-year-old in the palace hyped me. i suppose it's been the longest day for the mayor of florence who is still waiting for the hour of his anointment of prime minister. as italy's youngest prime minister. in the last few minutes we've seen perhaps the biggest piece in the jungle of italian politics come and go, and that is silvio berlusconi, and he is still very much a force in italian politics. he said when he was leaving the palace behind me that he was going to stick to an agreement that he made with the mayor of florence, matteo renzi, and that is to push through reforms to the political system here. so silvio berlusconi is still feeling very much a victim not of just politics but the judiciary of italy, but it looks like he'll stand by the young mayor of florence. as i say these talks have gone on well into the night. we may see the midnight oil being burned there, but i think now as mo

. >> mateo renzi has been sworn in as prime minister. >> reporter: matteo renzi has become italy's youngestprime minister. mr. renzi has presented his cabinet line up to the president with the average age of 48 with some of the smallest and youngest in recent italian history. his new government is expected to face a confidence vote in parliament on monday. russia's government said the cossack man who whipped members of the pussy riot band, suspend. pussy riot had been jailed, but this time they have not been jailed. >>> the wher whereabouts of thep eta members. they had given up reps as a first step towards disarmament. >>> no. paris there are not enough rental properties to go around and the increase of number of people living in cramped, overpriced and sometimes unsanitary situations. we have reports from paris. >> reporter: mamadou and his wife and four children live in one of paris' most expensive districts. it used to be the mas room. it's seven square meters and costs $600 a month. they've been here five years. so scared of upsetting their landlord they want to hide their faces. >> i

renzi perhaps will formally accept the premiership today and announce his cabinet. plan was for him to meet the italian president tomorrow and unveil everything. he's obviously been trying to move very quickly, get everything up and running so he can present his team and program in the italian parliament on monday for a confidence vote. >> do we have any indication, dan, of who he will choose to be his main ally so the cabinet ministers, it will be crucial not only for the positions of finance minister, but also industries, reforms, economy? >> yes, very much so. the italian papers were reporting this morning there was a late evening meeting with the deputy premier in the previous government and obviously his support is very crucial. that will be something to watch, what will his role be in this government? as you said, also the finance minister. the latest is focusing on the chief economist. obviously he has some international experience, and mr. renzi, you know, probably being forced to make that role more of a nonpolitical and get someone with some international

but i think the more important thing -- and this is the question for matteo renzi, who will be the newinister -- does he have a democratic legitimacy? he is the third prime minister, if he takes to power, who will be in that position without being democratically elected. remember, this is the mayor of florence, a lovely town. nothing against florence. . town of 336,000 people he will now be the prime minister of a country of 60 million. >> thank you so much. try to get back to berlin in one piece. if you see audrey hepburn, say hello to her. hans nichols, our chief international correspondent. how did he win that? >> that is a very impressive title. but you are coming back? >> something of an a to point out because here's the market take of what he just told us. the 10-year in italy is 3.70, 10 basis points worse than state. -- intense pain. in spain, 3.60. a big deal. the fact that italy is in worse shape then spain. >> maybe they can make mario draghi the new president. >> i am sure a lot of investors will like that. coming up. it is valentine's day, after all. shopping for a diamond

italian prime minister matteo renzi faces confidence vote in parliament this week.is the first test for the 39-year-old since taking office. for more, let's bring in our italy bureau chief. how do the numbers look for nz? obviously, the confidence vote in the senate is really going to be the close one for him. party,ty, the democratic does not have an absolute majority. -- one of of the main the main reasons he formed an alliance with a center-right party led by his interior minister is because he needs those votes. he needs some moderate centrist votes to help push his program through. he will be unveiling his government program this afternoon in rome. for him, it is quite a key day. tomorrow's vote in the chamber of deputies will be less dramatic, less tension involved because his party has a clear majority in that branch of our lemon. >> -- of parliament. >> what will a key points be? >> he has been talking about a couple of themes over the last 10 days. number one is changing the electoral law and italy. revamping it so it doesn't , aduce a hung parliament year

the 39-year-old mayor of florence, mateo renzi. he says florence's lost is italy's gain. >> he is the best, he has ideas, he is a doer. he has energy to do thing. he never stops. it is difficult to keep up with him. i wish him good luck. >> not everyone in florence is sad to see him go. if he manages italy as he managed florence it won't go well, he will only last six months. >> he doesn't have enough experience. he went from governor of tuscany to mayor of florence. what will he do next, be pope? >> he was known for closing the city to traffic. he was also criticized for privatizing the local transport company and slashing the salary of council workers. once compared himself of the david of michelangelo. but his critics say he needs a lot more than that to lead italy out of the economic crisis. one of them is sylvio ben-e, who wrote a book, mateo the conqueror. bureaucracy and the huge public debt. >> florence is known as the birth play of italy's renaissance. now its mayor needs to prove he's the man to watch other the country's

renzi has already presented his cab inspect line up to parliament.t is one of the smallest and youngest in italian history. they are expected to face a confidence vote on monday. >>> russian government said the cossack man who whipped members of the punk band pus i didn't riopussy riot hasbeen apprehend. he doused them with pepper spray and whipped them. two pussy riot members were jailed in 2012 for similar style protest, but this time they haven't been charged. a judge in spain has summoned international monitor who is were overseeing eta. the whereabouts of the groups' fugitive members have been called into question, and eta had given up a cache of weapons towards the first step towards disarmament. that's all the news from europe for now. back to jane in doha. >> thank you. zimbabwe's president has returned home from singapore after under going cataract surge. he has been in power since 1980 but increasingly blamed for the decline of the country's economy. >> cornelius living in hyper inflation. it now uses several currency. using multiple curren

they are in the same party and renzi is the head of the party. there is the possibility that, at some point, they will tell this it is time to go and will actually happen. >> interesting. thank you so much. you have to time these things perfectly because renzi possibly wants to get into power. if you mistimed it, the finger gets pointed at you for making the government fall and possibly driving yields back up. berlusconi did that at his peril at many points. toyota is recalling over -- almost 2 million prius vehicles worldwide. that is almost half of the vehicles ever sold. craig, another recall. talk to me about why this is happening. >> there is an issue with the software on the third-generation of the prius, which they have been selling since 2009. the software may cause some parts of the vehicle to overheat , which puts the prius in a mode where it saps it of power. in some cases, toyota said, because of this problem, that the car will come to a complete stop. drivingin particular cases where you put a heavy load on the pedals. say you are co

renzi confirmed a finance officer and chief economist will be italy's new finance minister. the world's most wanted drug kingpin has been captured. execute and marines are rested in a resort city early saturday. he was the leader of the senate lower drug cartel, one of the largest in the world. offered officials had $5 million for information leading to his arrest. that is all we have time for. we will be back with more on the ukraine, bundesliga soccer, don't go away. a very warm welcome back to the "journal." an unprecedented scene at vatican city. retired pope edited 16 -- francis xvi joined pope at a ceremony, the first time they have appeared at a public liturgical ceremony since benedict became the first pope to step down in more than six centuries. benedict xvi pope sat in the front row as his successor pope francis celebrated 19 archbishops to the rank of cardinal. it was the first time that an addict attended a papal ceremony since he stepped down last year. benedict, the of german archbishop, was one of those who received pope franci'' blessing to become cardinal.

. >>> elsewhere matteo renzi faces his first test at prime minister after being sworn in on saturdaynd putting in place a new cabinet. the economy minister will be the former chief economist for the oecd. he's expected to have enough support in the upper house, but some select winners within his own party threatened to vote against the government so the size of the majority remains in question. deja vu with his predecessor there. now elsewhere mark zuckerberg is the keynote speaker in barcelona tonight. the facebook ceo just purchased the what's app for $16 billion. and samsung unveils a new line of smart watches. louisa, what have you been astounded by there this morning? >> i'm astounded by how big this place is. i've been covering this event for eight years, seven years, nine years, something like that, and it's grown so much. which also tells you how much the industry has grown and how much potential there still is in this particular environment. you mentioned some of the trends, i have got some of these wearable apps on and wearable watches with the fitness-type things to track

he agreed to step down after the mayor of florence, matteo renzi, called for the centerleft democraticparty to withdraw support. he is now poised to become the next prime minister. the 39-year-old will become the youngest head of government in post-war history. authorities in the ukraine say they released the last prisoners detained during mass protest. more than two hundred people were freed as part of an amnesty passed in january, but many remain under house arrest come and authorities say charges will not be dropped until demonstrators leave public areas and the government buildings they are occupying. further protests are due at the --k kiev'sey of independence square. service isl weather a multi-pronged attack of rain, wind, and snow was sweeping england with south and southwest regions the worst affected. start toen the wettest the year there in two and a half centuries. >> storms continued to batter parts of britain and ireland. the strong winds have caused major flooding. southern england has been hit particularly hard. thousands of homes are without power. people are working a