the real rome.gled every day to live and to love. >> grazie. >> i mean, you've been eating here for how long? >> since i was a kid. i used to love it as a child, it's comforting. >> food the same, more or less? nothing changes? >> always the same. yes, that's the thing. that's why i keep coming back. the grandma makes it. it's always her cooking. she cooks every time and she makes fettuccine fresh. >> rome is a city where you find the most extraordinary of pleasures in the most ordinary things. like this place, which i am not ever going to tell you the name of. asia's been coming here regularly forever. she brings her kids still, so i'm not gonna screw it up for her. oh, that's good. >> that's good. children's food. isn't it comforting? >> is it possible to look at rome in a non-cinematic way? mine, it's a city that kind of demands it. >> to me it's how to shoot it the way that it has never been shot. there's sides of rome that, pasolini, for instance, who wasn't from rome but would shoot here and h

every time when i am away, i miss rome.way. >> anthony: do you take it for granted at the coliseum. >> asia: yeah, everyone looks at it. >> anthony: what about you, do you think rome is awesome here? >> i appreciate it a lot but it is not like every time i drive by -- >> this year is a little bit better here. >> asia: why? the coliseum? >> yeah. >> asia: why is it better? it is been there forever. >> the other year was dirty. and it was plastic some where. >> anthony: oh, they were renovating it. >> this year is all perfect. >> asia: this is ox tail. >> anthony: it is really good. really good, fantastic. >> asia: mama mia. >> what is this? >> you know what that is? >> anthony: meat. >> asia: just eat, you love meat. >> anthony: i love it. it is one of my favorite things. and rome with the sauce. >> i ate one without the sauce and it tasted like human fingers. >> anthony: yeah, it is one of my favorite things on earth but if you don't do it right, it smells like wet dogs. >> asia: i used to like it when i was a little kid. i

and i am francine lacqua, right here in rome. we have been in rome the last three days. when you look at the markets, they seem very calm. be buying some of the bonds to keep that safety blanket in check. we will find out more on thursday, when i am sure mario draghi will be fielding a lot of questions about the political upheaval here. one thing i keep being told over and over is that investors burned by brexit are still burned by trump, but this time took the right positions. timetable. talk when will lindsay step down as prime minister? francine: at this point, we don't know. we know that the president met with the prime minister, matteo renzi. we understand they met twice yesterday, once in the morning and once in the evening, around 6:00, 7:00 p.m. the second meeting was quite long. it lasted an hour. matteo renzi tendered his resignation, with the president saying, hold on. i need you to first pass this budget law. means that failing passing of the law, which could come as early as friday -- it could take until tuesday. there are two houses. this law has already be

we are back in rome.ing up later in the program, we speak to mario monti, one of the most prominent figures for the no vote. we will also be speaking to a businessman, one of the head of the conglomerates. now we need to speak to constitutional experts. we talk about the impact on matteo renzi. italy goes to the polls on sunday for one thing and that is to vote on the constitution. i'm pleased to welcome professor , universityone professor and expert on constitutional law. thank you for joining us. when you look at the constitution, what exactly is going to change? the rhetoric, the communication, has turned ugly. it gives too much power to the people in charge. look at mussolini. the others saying, we've had so many governments that if we don't reform the system, nothing will ever get done. massimo: i think we should look at what the reform does here now and what is going to happen if the yes wins. the italian citizen is going to be deprived of his right to vote for his own senator, first. there's going

francine is in rome.er than new york i would think. ♪ francine: this is bloomberg surveillance. live from rome looking at the fallout from the referendum. a record turnout. almost 70% of the italians went to vote in this constitutional reform referendum. 60% of those that went to vote were actually for the no referendum. let's get back to luigi zingales , professor of finance and economy at the chicano booths -- the chicago booth school. -- it is the banks. recoup a lot of losses. what is the worst-case scenario for the banks from this point onwards? luigi: the worst-case scenario is canceling the equity offering and they are in limbo. either the ecb is going to waive the role that they have to waive the capital by the end of the year or they even must be nationalized or must stop lending. i think none of this will take place. push come to shove the ecb will probably extend the terms. probably some intervention plan will come in. i think the market was anticipating this. the victory was not a surprise. --

. >> she is likely to have left from rome.em is almost 2,000 miles over land. >> for an elderly lady, helena is in her 70s at this point, this journey is an enormous undertaking. >> it is so unbelievably far away. in the american context, if new york is rome, jerusalem is something like guam or american samoa. >> but by all accounts, helena is a remarkable woman. >> we know only a couple of things about the empress helena. we know that she was christian. and we know that she was a commoner. >> and yet she gets together with a traveling roman and gives birth to the man who will one day become the emperor of rome. >> since its creation in 27 b.c., the roman empire has been ruled by pagans. then in 312 a.d., helena's son, constantine, has a dramatic change of faith. >> the story goes that on the eve of a great battle outside rome, he has a vision. >> he sees a cross of light in the sky. and he hears a voice that tells him by this, you will conquer. he takes it to mean that by the symbol of the cross and by christianity, he's goin

that's where the story ends, when paul gets to rome.u wouldn't know, for example, really, that there was an egyptian church. you wouldn't know there was a syriac church. everything would be a roman church. and that's the story that luke wants to tell. when the gospel gets to rome, the capital of the empire, that's the end of the story. >> ( dramatized ): in the beginning was the word, and the word was with god. and the word was god, and the word became flesh and dwelt among us. >> narrator: the fourth and last gospel now contained in the new testament is the gospel of john, written about 70 years after the death of jesus. it is the sty of a community where the relationship between christians and jews has become more virulent, almost to the point of breakdown. >> ( dramatized ): i am the light of the world. he who follows me will not walk in darkness, but will have the light of life. >> in the fourth gospel, jesus is a very serene figure who can speak at length about matters divine. a very different kind of speech from the speech which w

he was the voice of rome, the instrument of rome, probably "instrument of rome" is best in that, because he... he had his own independent notions certainly. >> herod the great was probably one of the greatest kings of the post-biblical period in israel, but you wouldn't want your daughter to date him. he was ambitious, brutal, extremely successful. >> and it is one of the real untold ironies of jewish history that this man, who... who's the guy you love to hate in jewish history, really, leaves the most indelible mark on the face of the land of israel. >> it appears that herod thought of jerusalem as his showpiece. he really wanted to make it a place where people would come, just as people would have gone to athens, or rome, or the great cities of the mediterranean world. >> narrator: a meticulously accurate model of ancient jerusalem shows the extraordinary scale of herod's building program. >> and so, when herod built the city, or helped to rebuild the city, he did so on a monumental scale. and this can be seen in the rebuilding of the temple. >> narrator: we know exactly how herod reb

of rome.rican presidenv to go to office. and was the first american first lady to go to europe while in office, if you want to think of it that way. she had to÷ú answer a bunch of questions about how to conduct herself. how does she dress, you know, all of thezv formalities -- so when the working visited in italy, wilson was in rome and was given honorary citizenship by the city of rome. but edith was given this statute, which those who are awareof the history of hillary. is the statute of founders of rome and on it are the initialb spqr which stand for the senate and people of rome. it's a touching gift and of the growing role of women and society. the -- they raised the questions that were in the minds oftr(t&h% americans and others around the world in that time of what would it would have been during the administration that the 19th amendment was finally confirmed and they received a federal constitutional right to vote in the united koymstates. >> by radio broadcast on this anniversary, wh

emanuel: right back to rome. mr. katz: give us your take on our election, and whether what tristram says applies to our complicated system. mr. emanuel: there is similar data. the biggest place to bring people together, a place where

they're in rome.y can't even practice here. >> reporter: but nbc10 stepped in and contacted american airlines. soon after we arrived, an agent from the airline did so as well. the band got their post-christmas wish. >> we're getting on a bus at 4:00 a.m. we're going to drive to new york, and we're all getting on a flight. >> reporter: that's great news there, but unfortunately they've already missed some rehearsals, some performances, and even a parade. they say bottom line, the thing that counted here was to get over with their bandmates in rome and share that lifetime experience, jackie. >> what an ordeal for them. keith, has american airlines offered any type of refund for them? >> reporter: well, the airline has since apologized. they're fpaying for two nights stay at the hotel in philadelphia. they say they're going to look into whether or not there's a possibility for a refund of at least some of these ticket prices to get over to rome. live in south philadelphia, keith jones, nbc10 news. >> hop

i want to bring in ben wedeman for us in rome. he knows the train administration astation and area of italy. ben, walk us through about how the italians brought this man down. >> reporter: it happened around 3:00 in the morning local time. nine hours ago. when italian police patrol routinely looking for people and asking for identification. he was outside the train station on the outside of the city of milan. when they asked this individual for his i.d., he reached into his backpack and pulled out a.22-caliber piston and shouted akbar allah. and shot at the police officer. one was hit in the shoulder and a police officer returned fire killing him. he spent time in italian prisons mostly in the southern part of the country. it was probably during the years in prison he came to individuals who led to his radicalization. >> ben, we're looking at pictures now it appears of the train station outside of milan. it appears that anis amri never got into the station. it appears that they challenged him outside the station. >> or he had been

mary: we are on to rome. paul: the next two are very, very interesting because of the ways they connect. this is june 5, 1944. the war has been, the allies have taken north africa. they have come into italy, terrible, bloody, nasty fight. the russians have started pushing the germans back. there is a sense that the third reich is really starting to collapse. the end can be seen and roosevelt goes on air. mary: what is really interesting about this speech is, there are a couple interesting things, but the first thing you hear is the way he makes plays significant. just like he used valley forge is a place, roosevelt was very fond of using placement as a way to make arguments about symbols, and so he will talk about what rome symbolizes because he does not talk about it in strategic terms at all. the second thing that he does is, he makes it clear that it is not about the italian people, but it is about the italian leadership. and so, he is already thinking ahead to not just a feeding people on the ground, but

and spent several years in rome working at the vatican. a bishop in the diocese of san diego for several years, he was named bishop of the diocese of oakland in 2009 and became archbishop of san francisco in 2013. archbishop, thank you very much for being here. >> you're welcome, thank you for having me. >> i wanted to ask you, we just ended something called a year of mercy. it it was initiated by pope francis. it's officially called, i believe, an extraordinary jubilee year. now can you help us understand that? what is a jubilee? >> why is this one extraordinary, and what sort of year are we dealing with? it's not a calendar year, it's some other sort of year? help us understand this whole structure. >> a long title. , extraordinary year of jubilee. the church celebrates every 25 years. it started way back in the year 1300. when people, many people were making pilgrimage to rome at the end of the 13th century because of so much suffering that was caused by car and by plagues and so they were flocking to rome to pray at the sacred places t

francine lacqua has this report from rome.ncine: as they vote on a constitutional reform, deciding if the senate needs to be curved back in terms of the parrot it has, taking back local authority strongholds. what the people and the markets are nervous about is that matteo renzi has staked his own political future on the outcome of a referendum. he wants a yes.you said repeatedly, if there is a no vote he will step down. italy has had to exceed three governments in 70 years. if matteo renzi steps down, we may see more political risk, or at least instability, which investors don't want. the other problem is how do you deal with the banks. there are big ranks trying to raise capital. does that mea investors internationally shy away from subscribing to the capital increase, and what is it mean for smaller banks? some kind of rest to plan if the government is distracted, or if we have a technocratic government for a couple of months -- these are questions cometors will weigh monday. francine lacqua, italy. nejra: francine also spo

is from rome, coming up next. -- the latest from rome, coming up next. bloomberg. ♪ , we arestill with us following this a tying referendum story as it unfolds. the is your take about impact on the emerging markets space specifically? referendum as not the first surprise emerging markets have been facing this year, brexit, the trump election, more significant surprises. that emerginging market credit has proved resilient to these major surprise events, and it will be the case for the referendum. details, the the exposure of emerging markets to italy in terms of trade, not that significant. one of the risk factors that can emerge if we have an escalation of a banking crisis in italy, there is a risk that can spillover into emerging markets. yousef: on that note, i have the financial conditions index on the bloomberg terminal. it shows you the ongoing restrain conditions. angie: francine lacqua joins us now from rome. what now? francine: we are expecting matteo renzi to tender his resignation later on today. he said he will resign because his phot was so s

guest: it is a startup founded in rome.ortcut the public transit system there. she looked around at the scooters driving around rome and decided to try to make what would look familiar to any user of uber, an app that would connect drivers to writers. oliver: is it a lack of competition in the car sharing space? why is their niche -- why is there this niche he was able to fill? guest: the streets in rome are and narrower line than you are used to coming from america. it seems like the traffic in the city center is so jampacked that the scooters can navigate in and around the public cars and buses that he was using before. that is an natural advantage. oliver: there is this element of flirtation, you can't sound more european riding around on scooters. app is going to look familiar to anybody who has clicked through uber before. you put in your destination enter departure location. and that is all there is to it. her, thelike with driver and the writer have to match, -- with uber, the driver rider have to match. >> people do

ican representations, in rome, as well as milan.ederal government is in close contact with the italian authorities, but we do not as yet have official confirmation. and the federal prosecutor has not confirmed the news either. are we talking about the same officer who has been liaising with the italian authorities? is it the same contact officer? yes. in many german foreign representations, also in rome, we have a contract officer and these office rs have a contract officer and these officers normally officers of the criminal office who served in a foreign representation on stewart —— office or embassy to coordinate the liaison, the look —— the coordination. when i was talking about our consulate general in milan, that this consulate had a contract with the italian authorities, namely, with the incumbent police president of the milan region, that is something i can confirm. a contract officer, was he sent, given the current events, or is that standard procedure, is he always there? i am not sure whether such an officer would be in p

oliver: as much as i want to say this scooter in rome.nd yellen, which is going to be a big story. what happens with interest rates and what is going on in the market now. more bloomberg television starts right now. ♪ ♪ coming up on "bloomberg best," the stories that shape the week in business around the world. bloomberg television is focusing on energy. we hear from the top leaders and opec ministers preaching in vienna who are reaching age other cut oil production. >> the market price as a 30% chance of a deal. we expected a deal. one of the key reasons, the economics of the deal were compelling. >> the trump transition continues to hold the world's attention appeared at the latest cabinet -- attention. the latest cabinet picks. >> our number one priority will be

our rome correspondent david willey listened to the pope's message and gave us this update.cted that he devoted his message to the city of rome and the problem of world peace. he lamented the fact that there is so much conflict going on, wherever you look in the world — the middle east, africa, his native latin america. and even he referred to the conflict still going on between north and south korea, the fact that there has been no end to the state of war which has existed for decades between those two countries. he says without peace, there is no future for the world. people have to resolve their conflicts. and then he went on to talk in a much more personal way about all of those who have suffered, not only those who have suffered from violence, he mentioned, he mentioned the berlin terrorist attack, but also the children who have been suffering in syria. the children who have been suffering in other ways as well, brought over from africa across the mediterranean on these overcrowded boats, many of them losing their lives. and the children who are hungry because they are

. ♪ >>> a florida high school marching band looking forward to a once in a lifetime performance in romeo put their plans on hold. >> you see half the band is stranded in philadelphia tonig tonight. the students and shop chaperones from manatee high school had a lay over in philadelphia that ended up being canceled. half the band is now at the double tree hotel while the other half who took a different flight, well, they are enjoying their time in rome right now. each student paid 3500 bucks for this experience and now they're bummed they're missing a performance. american airlines is making sure they leave tomorrow morning on a flight from jfk in new york. the airline did release a statement that reads in part "we sincerely apologize for the disruption of their travel plans, our customer relations team will be reaching out to all students and their chaperones who were impacted by the previous flight cancellation from philadelphia to rome". >>> time now to check out what is on your radar. nothing falling in old city at the moment. but that could definitely change over the next few hours.

francine lacqua is in rome. francine, what is next? we are watching who is going to be the next leader. padoan, canceling his trip to brussels today. >> i think that might be significant. in terms of padoan's future role, we do not know. he is one of the main names touted as a caretaker prime minister, or having a significant role within the next administration. however, he did cancel his trip to brussels because matteo renzi called on all his ministers to join him for one last time the 40 tenders his resignation -- last time before he tenders his resignation. we thought the no referendum vote would have been priced in. three weeks ago, it was clear the no would win. votedr, 60% of the people for this referendum. this makes it much more uncertain for the political stability of italy. that means matteo renzi will not play any part in the administration. and of course, you have the opposition, the populist parties, including the five-star movement, asking for fresh elections. it does not mean we will get them, guy. however, the situation

peter's basilica in rome.francis urged christians to celebrate thei suffering of children around the world. the pontiff escaped regret that some must escape bombs and how others are being prevented from being born at all. pope francis will deliver his noon blessing in st. peter's squa square. >>> it's already christmas in bethlehem. tourists and pilgrims observing christmas in the traditional birth place of jesus. thousands gathering at manger's square, the festivities lifting spirits. and we invite you to celebrate christmas around the world without leaving washington. join barbara harrison for christmas on embassy road, when she visits the residents of russia, norway, panama and indonesia, that's tomorrow at 9:00 a.m. right here on nbc 4. >>> president-elect donald trump says he will dissolve his charitable foundation. he said he made the decision to avoid even the appearance of a possible conflict of interest once he's president. trump did not offer a timeline for when hoos foundation will shut down. the pr

we are live in rome. bricks and brexit. demand strengthens. time for british property developers to rejoice? we break the numbers from berkeley group. nonfarm payrolls. one of our key themes. a fed rate hike this month might be based in. we get into that discussion. stay tuned. this is bloomberg. ♪ yousef: let us get the bloomberg business flash in a second. some swiss gdp numbers are crossing the bloomberg. a misstep. up 1.3% year on year. an estimate of 1.8%. seco saying the week third quarter is due to a special factors, not chiefly the swiss franc. swiss economic growth stagnating in the third quarter. the estimate was .3%. interesting. we will try to expand on that. juliette.ss now to juliette: bill gross says he is not buying the post u.s. election stock rally or the prospects for growth and driving it. he says the bets on tax cuts, infrastructure spending, and deregulation are misguided. donald trump is being criticized by mexico's richest man. he says americans have more to worry about under donald trump then mexicans because he could

we are live in rome all day. francine lacqua is in rome with the latest developments out of italy. the futures suggest we will be fairly flat with a slight positive bump. we believe that there. this is bloomberg. ♪ guymanus: we bring you the firso trade of the day. i manus cranny alongside matt miller. for angela merkel, the cdu party convention. here is that we are watching. the italian president asks matteo renzi to put his resignation on hold until the budget is passed. who will leave the caretaker government? is policy the new data? the fed weighs fiscal stimulus under president trump,

these pictures were taken after the manatee high school marching band landed in rome. nbc 10 helped them get there and we made a call to american airlines after we heard the band had been waiting at philadelphia international all day. first their plane was delayed and then canceled because of weather. after we -- after we reached out american paid for the band to stay in a hotel in philadelphia and then arranged for them to get on a plane to rome yesterday. they will be performing today and tomorrow. they will leave rome with a blessing from the pope. >>> coming up, progress planned for sacred place in delaware. >> ahead hear why these people are so upset about a planned shopping center on attractive land in sussex county. also -- >> yeah, the sights and sounds of indoor engine revving fun. your last chance to see some monster trucks before they drive off from our area. >>> live look outside we're seeing partly cloudy skies but look at the camera shaking because we will see those wind gusts pick up to about 25, 30 miles per hour. mild temperatures and coming up i have

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oliver: as much as i want to say this scooter in rome.t that tells me trump and yellen, which is going to be a big story. what happens with interest rates and what is going on in the market now. carroll: we will see a few tones down you know, what he was saying before the election. more bloomberg television starts right now. ♪ ♪ anna: coming up on "bloomberg best," the stories that shape the week in business around the world. bloomberg television is focusing on energy. we hear from the top leaders and opec ministers in vienna who are reaching a deal to cut oil production after weeks of negotiation. >> the market price has a 30% chance of a deal. our view was we expected a deal. one of the key reasons, the economics, not politics, but economics of the deal were incredibly compelling. anna: the trump transition continues to hold the world's attention. we dig into the latest cabinet picks from bankers to billionaires. >> our number one priority will be the economy and getting back to 3%-4% growth and focus on

oliver: as much as i want to say this scooter in rome.t that tells me trump and yellen, which is going to be a big story. what happens with interest rates and what is going on in the market now. carroll: we will see a few tones down you know, what he was saying before the election. more bloomberg television starts right now. ♪ >> coming up, our exclusive interview with one of the world, carlos slim. plus, bloomberg's weeklong focus on energy, we catch up with the sunrun ceo, aaron levie, on what a trump presidency means for the solar industry. and we get our hands on snap spectacles. an insight on the spectacles.

[ barking ] welcome to rome, the eternal city.f antiquity, the coliseum, you're not going to see any of that. you're going to hate this show, in fact, because this entire show was shot in rome that -- that people live in. brutalist rome. what do you think of this style of architecture? >> i think it's beautiful. it's essential. >> good food? i want to die here already. i was unaware of this phenomenon, this thing. if you're looking for classically beautiful -- do you take it for granted, the coliseum? >> yeah, i don't even look at it. >> tell me about the highway of death. [ laughter ] >> this is not the show for you. >> interesting humor. when architecture speaks louder than words. tune in for the season finale, sunday at 9:00 p.m. >>> meantime, at least 13 people killed in tennessee. a result of the horrendous wildfires that swept through pigeon forge and gatlinburg. authorities are still combing through rubble in the tourist areas. dozens of residents have been torn from their families and left with only a memory of what used t

guy: we have live pictures coming from rome.ut the events that took place behind the train station this morning. he is just finishing. that he has spoken to angela merkel, who i'm sure was greatly relieved, but i would think deeply concerned that he made it all the way down to italy. how did he get their? tom: looking at the bloomberg headlines, there are about six topics going on right now. here is sebastian salek. sebastian: more on that story now. italian police killed the man suspected of carrying out the truck attack in berlin. italyterior minister of at a press conference said that he was fatally shot near a milan area train station. he fired at officers when stopped at an identification check. he was killed when fire was returned. german authorities believe amri is behind a truck that plowed into a christmas market on monday, killing 12 people. deutsche bank and credit suisse both agree to play -- to pay billions of dollars. credit suisse is on the hook for $5.3 billion. the other $2.8 billion will help owners -- will hel

the story of rome goes back to the time of the foundations of our civilization. me havetill see monuments of the time when wrong, the romans controlled the whole of the then known world. that is significant. the united nations are determined that in the future, race willy and no one be able to control the whole of the world. in addition to the monuments of the olden times, we also see rome as a great symbol of which had reached into almost every part of the world. there are other shrines and other churches in many places, but the churches and shrines of rome are visible symbols of the faith and determination of the early saints and martyrs that christianity should live and become universal. be a source it will of deep satisfaction that the freedom of the pope, the vatican army's ofsured by the the united nations. it is also significant that rome has been liberated by the armed forces of many generations, many nations. armiesrican and british found a fair side our own north american neighbors, the canadians. the fighting new cylinders from the far south pacific, t

our rome correspondent gave us this reaction.ity of rome to the problem of world peace. he lamented the fact that there is so much conflict going on that, were ever practically you happen to look in the world, in the middle east, latin america, africa, he referred to the conflict still going on in north and south korea, the fact that there has been no end to this stage of war existing for decades between the countries, and he said without these, no future for the world. he went on to top in a much more personal way about those who have suffered. not only those who have suffered. not only those who have suffered from violence, he mentions the bail in terrorist attack. but also the children who have been suffering in syria. —— terrorist attack. but over from the mediterranean on overcrowded boats. and the children hungry because they are malnourished. the queen pays tributes to what she calls unsung heroes such as carers and volunteers in her christmas message. but she is forced to miss church because of a cold. president putin pay

we're in rome for a european election some say could be bigger than brexit. we're in cuba to for the final farewell to fidel castro and aleppo, the city that could soon be recaptured by assad. plus the saga of the sequoia during a long legal battle the former presidential yacht has faded into squalor. what's being done to save this historic ship. >> what's the status. >> the status of the vessel is we need to protect it immediately, get it through the winter. this is the cbs weekend news. >> quijano: good evening, i'm elaine quijano with the western edition of the broadcast. at least 30 bodies have been recovered from a converted warehouse that burned to the ground in oakland this weekend. officials expect to find more as they search what's left of the building. friday night it was packed with artists and musicians at a party. for some the only way out was a rickety make shift stair case. before the tragedy, there were complaints the warehouse was a cluttered fire trap. carter evans is at the scene. >> reporter: video from inside the warehouse dubbed ghostshi

mark: we are going to take you from washington to rome and give you a couple of stories out of switzerland in the u.k.. here is what you are watching today. european thanks -- bankshares get a boost today. we will cover that plus a big settlement in the benchmark rigging scandal. julie: the italian prime minister tells twitter followers he will resign after sunday's referendum defeat. we will get his speech to the leadership of the democratic party. ceos of at&t and time warner are on capitol hill depending -- defending their proposed transaction over concerns the deal could hurt independent content producers. mark: have a look at where european equities are trading. we are 30 minutes to the end of the session. stocks are rising for the third day. here is the left-hand column. germany stacks up by 1.8%. is gaining. the only major currency that has fallen against the dollar today is the pound. it is down by 6/10 of 1%. the euro is up by roughly 4/10 of 1%. bonds deals are following -- are falling. we have the spanish 30 year low, the u.k. 10 year six basis points lower as well. and in your

and as julia chatterley reports from rome, this vote is viewed as a referendum on both political andconomic change. >> reporter: in rome, choosing which pizza to order isn't the only tough decision fellow italians have to make this weekend. >> and it can be confusing, i tell you. like many italians, it's confusing. >> they will head to the polls on sunday to vote yes or no in a referendum on constitutional reform. the point? to reduce the size and power of the government. >> we don't need too many people to be in the government. we have about 900 people, but we don't need all of these people. >> reporter: a smaller government that could ultimately lead to a more stable one, too. italy has had 63 of them in just 70 years. it shouldn't matter to anyone outside of italy, except it does. because prime minister renzi promised to resign if the no vote wins. so it's also become a de facto confidence vote on renzi, and a way for all of the other political parties to club together to try and oust him. in addition to that, the technicalities of this vote are pretty complex. leaving a number of

he spoke friday morning in rome. here is the conversation. charlie: i had the great pleasure of introducing to you -- i said to him, cardinal turkson, what can i call you? he said how will that peter. i will not use peter, i would use cardinal turkson.

from rome, here is our europe editor. reporter: the reaction was instinctive if not entirely tuneful. as soon as they knew they won last night, no voters demanded the resignation of their prime minister, matteo renzi. he was listening. the first italian premier, he claimed, to take political responsibility. pm renzi: i lost, and i say loud and clear, even if i have a lump in my throat, i wasn't able to win. long live italy. good luck to all of us. reporter: dramatic exit, stage right. except it wasn't. this evening matteo renzi drove to meet italy's president and was told not to pack his bags just yet. he will stay at least a week until the annual budget is passed in parliament. cabinet members seemed a little dazed by it all. >> the constitutional reform has been rejected by the people. how could we stay in this format with this government? reporter: it is an inelegant end to a premiership that began with such promise and so many promises. change italyd to and its sluggish politics. he was invited by president obama to b

in rome, where additional security was in place following the berlin attack, pope francis also criticised, and appealed to christians to stand out as people of compassion and self—sacrifice. translation: it is times for weapons

. >>> italy provides a distraction with rome demanding more time to rescue monte dei paschi, as former prime minister matteo renzi officially resigns following the failure of his referendum. >>> tui travels higher as the tourism group's full-year core earnings growth gives the shares a boost in early trade. >>> the gamble doesn't pay off for uk betting firms as the stocks sell off on a report that mps will demand stricter controls over certain betting machines. >> good morning, everybody. welcome. we're being told today is the most important day of all time for the ecb. >> it's always the most important day. >> exactly. european equity markets gearing up for the most important ecb meeting with a slightly higher attitude. up by a quarter percentage point

he spoke friday morning at the fortune/time global forum in rome. here is the conversation.harlie: i have the great pleasure of introducing to you -- i said to him, cardinal turkson, what do i call you? he said how about peter? i will not use peter, i will use cardinal turkson. he is at the forefront of the ideas we have been discussing this morning in the few minutes we have gotten started as we have laid out the imperative of this conference.