scholz: we are working on the transition of our economy.uld do a lot of things which are important for creating neutralmy that acts co2 in 2050. that means a lot of decisions are also related to future questions. for instance, and the questions of renewable energy -- in the questions of renewable energy, electrifying of our mobility. this is also part of the package we decided on in germany for developing our economy into this direction. what do i think about further development? just compare it to the situation after the last crisis of 2008 and 2009 and the bankruptcy of lehman brothers and all the consequences it had for the world economy, and also for the one.an and european we were able to increase our debt to gdp ratio from up to 80 at that time. justved it down to 60 before this crisis now started again. it is absolutely reasonable to think that we will be back on 60 at some time with the growth of our economy. francine: if authorities don't help clarify the situation regarding the poisoning of alexey navalny, should the nord stream 2

olaf scholz, would you block it? olaf: the big problem of the world we are living in is there are a lot of governments that are not following the ideas of freedom and of democracy we are following, and we have to act within this framework, supporting those who are fighting for their right to be free and to live as free citizens. part of francine lacqua's conversation with the german finance minister olaf scholz a couple of hours ago. joining us to continue the conversation, morgan stanley's chief economic advisor. we are seeing today, and olaf scholz confirming it, a significant change in the way germany is approaching its debt this in. it is prepared to issue significantly more debt, prepared to invest money, prepared to get it it's economy moving again. how significant is that going to be in the way we approach investment in the european union next year? is germany going to lead europe's recovery and outperformance? good afternoon to you, guy. good to be with you. i think this is crucial. the big difference between

because of good friend of mine, george scholz, now almost 100 years old, great public servant of our time, george and ronald reagan secretary of state, george wears a tie sometimes it says democracy is not a spectator sport. i would say that is a message worth taking to heart. >> in that spirit, about a minute or so, what would your advice be right now for president trump in the next 47 days? >> guest: my advice would be it's hard during political campaigns. rhetoric is exaggerated, and look not just in this campaign george washington was senile because he did not like relationships are politics is always been a little bit rough. both the president trump and former president biden speak to us, the people want to have a sense that this country can come together. they want to have a sense of what ever happens on november 3, we are going to be reuniting around some big national theme. i would hope we start talking about this national themes are. by the way i cannot close without saying, one of those things has to be america, has to say engage in the world. because when america's not eng

lacquahat was francine speaking exclusively with the german finance minister olaf scholz.a has paused vaccine trial after one study participant develop an illness. the drugmaker said the decision was a routine action intended to allow researchers to examine safely data. it could delay or derail efforts to deliver a vaccine for the coronavirus. i guess it is kind of dramatic. i don't mean it could derail efforts for any vaccine. you will occasionally have these issues pop up in trials. >> at the end of the day, this is what i think we have been talking about all along. with pressure to get this vaccine on the line by a certain date, being nonsense. do thesehy you have to larger trials. it shines a light on the development of a brand-new product, especially that it goes into healthy people. anna: as we wait to find out what it is that makes a person ill, and it will be interesting to find out and how linked or not it is to the vaccine, how concerned are you about the political pressure? we saw a number of pharmaceutical companies coming together to push back against pressure

time, olaf scholz will outline the country's 2021 budget. -- will benal suspended as the government seeksspend its way out of the recession. then back in the usa, at 3:00 p.m. u.k. time, a little bit confusing, jay powell begins the second day of testimony for the financial services committee. that kind of thing always starts at 10:00 a.m. in washington. the canadian prime minister justin trudeau is sent to deliver the so-called throne speech. he will outline the government's new agenda including social security and green measures. let's get the bloomberg business flash. >> you will like this story. tesla is setting the lofty goal of making a $25,000 car by 2023. -- is possible by cutting the cost in half. it lacks the sizzle investors have come to expect from elon musk. goldman sachs is reversing course in london, encouraging employees to go back to working remotely after the government britain to come back coronavirus. 3m is set to be exploring the sale of its safety unit. sources tell bloomberg it is working with a deal that could fetch $3.5 billion. the sale would give 3m extra the mi

time to look around at the cabinet table where the remarks are made in elliot richardson, george scholz, fred and me and more i expected the cabinet in embassies and departments appointed by him. his comments are beneath his greatness but they possibly explain watergate a little. let me say right here there is an arrogant about an ivy league connection that is bad, i remember yell during the vietnam war the unwillingness to preserve a climate on campus for diversity completers, my hang up was not his own honestly held on the war but is unwillingness to insist that other views could be expressed. he did not lead he followed the mob in inverness so did many others. thank god georgie got the best for meal and contained a fundamental conviction that a lot of good happens from america south and west of woolsey hall. [laughter] this is a long one. when i heard the taping of the white house i felt disturbed and concerned stated in the southwest lobby of the white house i told rice who is nixon's confident and my great friend i am shocked the president cannot survive this taping of all the conv