a big fan of schauble.lks, you have basically for parties, if you split the cdu who are looking for government positions . that will be a very interesting question to see whether schauble will stay. that is a signal. i am looking for it because it will show some continuity in terms of the government finance, ad in terms of persisting on halfway rules-based approach within the european union. manus: thank you so much. chief german economist at deutsche bank. a couple of headlines before the next team picks up, from kuroda. we are going to keep watching north korea. anna: future coverage will be all over that story coming out in japan at 10 clock a.m., just at 10:00 a.m. abe is set to speak. this is bloomberg. ♪ what did we do before phones? they save us from getting lost, getting hungry, and getting nervous in places like this. now phones can save us money too. introducing xfinity mobile. with unlimited data for just $45. that's the lowest price out there for one line. and you can get the same price on up to

speaking at schauble's birthday celebration yesterday, merkel praised him for his service and said they'reighting together to win the elections annette is in berlin the key question in berlin is will he stay or will he go what's the talk on the ground? >> well, actually it's increasingly unlikely that he will stay. that's the talk on the ground given that traditionally the smaller coalition partner can pick a ministry of his likes traditionally that was always the foreign ministry now there is a clear conviction among all the martiy parties, was wrong to leave the cdu to angela merkel's party. it could still be amerimerkel's negotiation power in the end will yield another year for w f wolfgang schauble, but what is clear is that his job is in danger there are many other themes as well we have some voices from the ground to give you an overview of what's hot here in berlin take a listen. >> i think this is an important election for the future of europe my personal view is there's a time window opening, where germany and france could kind of renew this french/german axis, which did drive the

. >>> wolfgang schauble will step down as germany's finance men center minister to become speaker ofdestag. in eight years in the post, schauble was a leading voice for austerity through the euro crisis >>> french president emanuel macron has unveiled his government's first budget. his plans look to strengthen france's influence within the eu by shrinking the size of the state and freeing up a sluggish french economy for growth. the 2018 budget cut spending to programs protected by the state including housing and government sponsored jobs plans wealth and capital taxes have also been cut as macron looks to ease the tax burden of workers and businesses >>> coming back to one of our top stories, donald trump attracted widespread criticism for politicians and business leaders for his decision to withdraw from the paris climate agreement, however bob geldof told cnbc that the president's stands could end up bolstering environmental activism >> ignited the issue for the young. they weren't really captured by the existential threat by climate change maybe, maybe not, even though al gore's

agreed to a compromise or a package with strings attached medical and have finance minister wolfgang schauble persuaded greece to abandon its initial objections and agree to further reforms reeses potential departure from the euro the dreaded gregg said and once again being about it he had she argued her case very vigorously. and i think that points to an essential feature of the americans approach to politics. she sticks to her guns and she expects others to meet the commitments they've made. biggest mistake i. made as in their dealings with greece because they broke with the principle of solidarity. shortly after the prospect of a greek euro exit appeared result another crisis emerged in the summer of two thousand and fifteen that overshadowed all out of. hundreds of thousands of migrants and refugees passing through turkey and greece heading for central and western europe and especially germany. most were fleeing the brutal war in syria in the face of a humanitarian disaster in the making i'm going to machall took a very clear stand. and i look at germany as a strong country as we deal wit

government and to surprise it is a reshuffling that has to do with the money today germany's of wolfgang schauble of one of europe's most respected political leaders said that he is willing to give up his position as finance minister and become president of the parliament storable is credited with steering germany and the eurozone through the euro crisis now the vacancy at the finance ministry gives a chance for miracle a coveted cabinet position to dole out in the upcoming coalition talks which today in berlin the chancellor met with her cabinet it was the first meeting since sunday's election voters kept miracles conservative c.d.u. c.s.u. in power as the largest political party but support dropped compared to the last election that has weakened america and at the same time embolden the far right party the a.f.d. which on sunday became the first far right party elected to parliament in this country in sixty years. well the german chancellor does not have an easy task as she looks at the start of an historic fourth term not only does she have to build a new government with a coalition of parties

wolfgang schauble is ready to step away from the finance ministry to lead the bundestag.ning in part because of the reaction to the getting intod parliament in the elections on sunday. there has been a lot of discussion in germany what that will mean for the operations of the parliament. there has been the discussion among senior government officials that they wanted someone who was very senior to be in that position, running the show, if you will, in the lower house of parliament, in the bundestag. we are not learning from sources that wolfgang schauble is indicating he is willing to step in and take that role. he is the longest-serving member of the german parliament, and certainly is considered an elder statesman here in politics in europe. the domesticre is perspective, in which of course they want a statesman in that position. he would secure that role. regionally speaking, the german finance ministry -- they are wondering what replaces the face of fiscal conservatism in europe. is that going to change? who takes that spot? >> that really is the question. with wolfga

good that one fine until a minister mr schauble a very famous indeed because he's pushing us to the limits. is not a good sign for greece. to the limit our government. spending every day new taxes we are really living to the limit we come into play more than we can. in their money people pass. their state. because they follow the rule in gaze the greeks they have no more pass through the bullet case now so they don't pay their taxes and don't support it. my opinion is that their money rules euro. i get no medical leave. i feigned like sees my professor i think is doing to me you know you do but this isn't their money by the end if we all had the professor. giving us it either way it's a good the way. let's all go that this is day doubly new still to come in miles on time soon she brags aside in summer hinge a refugee crisis but one small condemnation from her critics. will have bought more of the day's news and business in just of. the main line was the first train line in sri lanka. the british colonisers built to transport t.v. . now it links some of the country's most stunning sites mak

schauble will agree to this. they want more europe but limited burden sharing i guess the two will be at loggerheads. >> at the end of august merkel did endorse macron's plans softly she did say that she would definitely consider discussing the topic. the elections are coming up. so i doubt we'll hear anything before then. definitely something on the agenda for the next couple of months macron himself said in the next couple of months he will unveil the road map of how he see there's a integration to play out. >>> let's talk about greece more specifically the bailout for this country ends in a year's time. how are the prospects looking? it's exited recession finally after years and years. how are they tackling the issue of debt sustainable? >> that's the big question that everyone is asking, including tsipras. it's an interesting time for greece growth is on the up. economic sentiment is also on the rise and they recently issued their first bond to the market for the first time in a couple years it cleared very w

certainly not the easiest one and you've been quite critical of germany's finance minister wolfgang schauble in the past and i wonder if you you might well wish him back if his position ends up being taken up by the f d p no absolutely not . well know well what i think you said basically the views of. pretty well a cold divide by the of the piece so i see quite a few do while not many differences between him and the of the piece so he's on the on of all the line that would like us to believe that you can have a monetary union without financial solidarity between monetary union members and that is simply a practical impossibility so rules are not enough if you really want to do monetary union to hold over the long term you need financial solidarity and of course there's no solidarity without responsibility of course but you need that solidarity and basically that's what germany is germany has been a customs union as being a monetary union long before the euro and there are very strong financial fully directly links between the sixteen german lender and that's fact of life we have to recognize

peter: martin schauble is a very important key player, however when it comes to what germany be acceptingopean ministry? that is not a decision made by the finance minister. that is a decision for element pretty be like the competition for parliament in the composition of the jamaica coalition, the freedom but also --ved and more right ring right wing wing of the conservatives, they are very much against an -- against this. it is going to be tough to get anything agreed on more european fiscal integration in the near-term. francine: is it any appetite from the allies are german citizens? i don't think there's an appetite for transfer union. ou put up aeven if big fiscal transfer budget, within the eurozone, tt doesn't enhance the stability of the zone because it comes with moral hazard. if you leave countries to establish policies that let spending run out of control. in essence, it helps nor can save the euro anyway and we have to focus much more on the kind of policies which macron doesn't nationally, labor market reform which will make france grow again. that is where the big success c

the conversation we are having in germany as whether jens weidmann will replace mario draghi, if schaubletays. are you bullish on europe? bob: we are. we see a lot of growth, we see the benefit from a currency that had revalued. we see a banking system that is healing, corporate profitability quite high. things look pretty interesting. you do mention who could be the potential successor to draghi? it sounds to me like weidmann is putting his name in the hat by his i think rather conciliatory comments. there are other candidates out there. what about mark carney? francine: yeah. i think mark carney, that is an interesting thing. what would be an ecb composition under mark carney? bob: i think what would be an ecb that is more dynamic, that does not move to a policy range and sit there, but actually takes incoming data, is willing to move rates around and perhaps willing to be more aggressive in tapering q.e. it looks like ecb policy to us is outdated. there is no emergency. rate, a negative real much less a negative absolute rate and continuing to expand the balance sheet is something that