it went to go pay for projects in southern europe and many germans decided it was probably being wasted. that man was martin luther who famously named his points rebelling against the pope. brought about reformation which shook not only germany to its foundations. whole of europe. he wanted to be part of the great european project in his head, he said it was a rip-off and the money was being wasted. when it came to economics and politics, economics one. does that remind you of anyone? the most powerful woman in the world, the first woman chancellor of germany, is a daughter of a lutheran pastor steeped in the virtues of thrift, hard work, and behaving responsibly. one of the reasons why angela merkel remains personally powerful, her image is like the house frau next door. sometimes this puts her at odds with her desire to be a good european. now, even if modern germany is divided between catholics, lutherans or other religions, it is a lutheran god they don't believe then. the influence of the way they think about the economy is everywhere. "luther's followers are the backbone of the ec

. >> it is impossible to bring northern and southern europe. southern european countries have such a high level of debt, they will need decades to bring it to a manageable level. with that as high as it is, you cannot achieve much in the short term, so the fiscal that is of no consequence in the short term. >> despite the billions spent, there is still no guarantee it will not all just be money that politicians slowly poured down the drain. and athens is not the only problem on the southern tier. spain is battling to grow its economy, and portugal may soon need another bailout. italy's labor reforms could set an example, but there's still years of hardship ahead. >> spain's economic crisis began when the country's real estate bubble burst. that had a big impact not only on construction companies, but on a lot of home buyers who were suddenly sitting on mortgages that were worth less than their homes. >> but those still have to be paid, and people still have to eat. a lot of people are being forced to take extreme measures to make ends meet. >>

saw an arab spring last year there's no absolutely no reason why similar things celt happen in southern europe it is difficult to stomach tough austerity measures tough government if it's your own elected government but to be dictated to by angela merkel herman van rompuy oil and mr barroso is for millions of people just totally unacceptable. now or to some other stories making headlines around the world this are not updated on this electing members of the country's two hundred ninety six parliament it's a first nationwide vote since the disputed reelection of president mahmoud ahmadinejad in june two thousand and nine putting allegations of vote rigging in nepal mass protests were organized largely through social media this election is what i'd leave huge as a contest between two conservative groups supporters of the current president and supporters of the supreme leader ayatollah ali khamenei. flooding continues to affect large parts of southeastern australia with fifteen hundred people now forced to leave their homes in the state of victoria the army has been called in to help ferry food wa

an arab spring last year there's no absolutely no reason why similar things callup happen in southern europe it is difficult enough to stomach tough austerity measures tough government your road elected government but to be dictated to by angela merkel herman back room boy mr brace for millions of people just totally unacceptable turned out some other stories making headlines across the globe a head on collision between two express trains in southern poland has left fifteen dead and more than fifty injured some three hundred three hundred fifty passengers were aboard the trains that were traveling on the same track or to each other merchant see workers and helicopters were deployed to help those trapped in the wreckage of the collision already described as one of the country's worst ever train crashes. the muslim brotherhood in libya has created its own political party islamised group is to be led by a man who spent eight years in jail addicted aki regime the movement harshly suppressed for decades and accused of extremism by opponents expects to be a leading political force in elections set

we saw an arab spring last year was the absolute no reason why similar things can't happen in southern europe it is difficult to stomach tough austerity america's tough government if it's your own elected government but to be dictated to by angela merkel. mr barroso is for millions of people just totally unacceptable ok just a moment i'll get to katie pilbeam news here in r.t. for now though the r.t. world cup it for your starting with iran elections ongoing alpha members of the country's two hundred ninety seat parliament is the first nationwide vote since the disputed reelection of president mahmoud ahmadinejad in june of two thousand and nine. vote rigging in that poll last protests were organized largely through social media this election is widely viewed as a contest between two conservative groups other supporters of the current president and supporters of the supreme leader ayatollah ali khamenei. flooding continues to affect large parts of southeastern australia with fifteen hundred people now forced to leave their homes in the state of victoria the army has been called in to help fer

on we saw an arab spring last year was absolutely no reason why similar things carol happen in southern europe it is difficult enough to stomach tough austerity measures tough government if it's your own elected government but to be dictated to by angela merkel. mr barroso is for millions of people just totally unacceptable for before we get to casey with the market update for the hour let's do the r.t. world update now and we'll start with iran now electing members of the country's a two hundred ninety see parliament is the first nationwide vote since the disputed reelection of president mahmoud ahmadinejad in june of two thousand and nine thawing allegations of vote rigging and that poll a mass protest organize a largely through social media this election is widely viewed as a contest between two conservative groups namely the supporters of the current president and supporters of the supreme leader ayatollah ali khamenei. and the flooding continues to affect large parts of southeastern australia with fifteen hundred people now forced to leave their homes in the state of victoria the army has

saw an arab spring last year there's no absolutely no reason why similar things can't happen in southern europe it is difficult enough to stomach tough austerity measures tough government if it's your own elected government but to be dictated to by angela merkel herman bammer employed mr barroso is for millions of people just totally unacceptable it's good to have you with us you're watching our city now a little more than a decade since nato bombs fell on its cities or serbia has now been given the symbolic title of e.u. member candidate now the largely ceremonial affair is seen as a reward for belgrade's normalizing of relations with the breakaway region of kosovo which the country sees as its own but sure an expert on serbian history says only the e.u. actually benefits from the entire accession process. it will not get any sort of. tricky to advantages and even if it did it doesn't have much of an economy to take advantage of them anymore because over the past four years under a militant the prove you government assuming economy has pretty much been dismantled completely its last has pretty

an arab spring last year there's no absolutely no reason why similar things cowled happen in southern europe it is difficult enough to stomach tough austerity measures tough government keep your own elected government but to be dictated to by angela merkel herman van rompuy oil and mr barroso is for millions of people just totally unacceptable. now to some other stories making headlines around the world this world updated to us protests over the burning of the qur'an of an american air base in afghanistan last month have now spread to southern pakistan members of a right wing is known as party who organize a demonstration one ties with america cut it's a creation of the muslim holy book thirty people have been killed so far in weeks of demonstrations in afghanistan and despite an apology from president obama clerics want someone held responsible and put on trial. iran is electing members of the country's two hundred ninety six parliament it's the first nationwide vote since the disputed reelection of president mahmoud ahmadinejad in june two thousand and nine calling allegations of vote rigg

in southern europe the euro dream is fast becoming a nightmare in spain there being a huge protest against austerity cuts a new labor laws which opponents say will make it easier for workers to be fired in a country where unemployment rates are among europe's highest and the financial crisis isn't stopping you regulations from brussels as a correspondent reports. there is much ado about these feathered creatures. on january first of this year the european commission's welfare of laying hands directive that the use of battery cages like this and now requires at least seven hundred fifty square centimeters of cage per head. and. look at the mobility investment to make it will say thank you. to my life. so that's going to medium and small and still completely. good to be taken over by the bigger ones and then welcome scenario and already crisis hit a new countries but michelle is one of the lucky ones he shelled out more than three million euros to build the new cages i thought it was very. nice i'm not i. think the out of every person. i think that. that's something i think. they also now ha

without bankrupting the entire country we see what's happened in western europe where most of the southern europe is in really parlous really guess where the economic straits russia is now seen continued growth for the five percent a year so i think especially compared with one thousand nine hundred eight they managed to very very well but who else do you think can shoulder russia's vast economy i mean what i mean. like when he managed to build a fortune for himself can he do the same for the country should he become the better i'm sorry mr prohack girls was in the right place at the right time. i think the man has been extraordinarily lucky and if he can promise that he can bring his luck to russia then then then he'd be very welcome the likelihood of him being elected president of russia is simply complete but likelihood of my being elected it's not going to happen the fundamental problem is russia needs an opposition it needs serious loyal constructive opposition and for twenty years there hasn't been one i mean i remember the yeltsin years the opposition was fairly pathetic and right now it i

in southern europe if a euro dream is fast becoming a nightmare in spain there have been huge protests against austerity cuts and new labor laws which opponents say will make it easier for workers to be fired but in a country where unemployment rates are among europe's highest but the financial crisis isn't stopping new regulations from brussels as artie's syria reports. there's much ado about these feathered creatures. on january first of this year the european commission's welfare of laying hens directive that the use of battery cages like this and now requires at least seven hundred fifty square centimeters of cage per head. and. they took the mobile home to make it will say no thank you i will not with us till my life and waited on. so there and it's medium and small but still completely. taken over by the bigger ones and then welcome scenario and already crisis hit a you countries that michelle was one of the lucky ones he shelled out more than three million euros to build a new cages house i think it was i was. knocked. around the city. i think. i think i. think. they also now ha

mess in the united states, agrees, a crisis in spain, greece, and some of the other countries of southern europe, ireland. but even with europe there is no crisis in germany. unemployment is at very low levels though crisis in denmark, finland, sweden, no rway, northern europe is doing rather well. budget deficits, rather high employment and high prosperity. by e*trade imbalance imbalance -- balance our surplus. looking beyond western europe then it is even less of a case of a global crisis. and asia, developing asia india, a china, southeast asia, a kaman growth rates are act of unprecedented levels by historical comparison. china has been growing at a rate of 10% per year for more than three decades. doubling every seven years. even 36 years china's economic growth is around 8 percent per year. india is a bit less but other countries are run 6% or higher. the world economic growth is around four or 4.5% which means so whole world economy doubles roughly every 18 to 20 years which is astounding for a world of 7 billion people and the average income of $10,000. $70 quadrillion doubling every gen

their own eurozone countries to fall out altogether to go back into their own countries and in southern europe the euro dream is fast becoming a nightmare in spain there been huge protests against austerity cuts new labor laws which opponents say will make it easier for workers to be fired but this in a country where unemployment rates are among europe's highest but the financial crisis isn't stopping new regulations from brussels as our correspondents are our city of reports. there's much ado about these feathered creatures. on january first of this year the european commission's welfare of laying hands directive that the use of battery cages like this and now requires that the sudden hundred fifty square centimeters of cage per head. because. they look at the amount of investment to make they will say no thank you i will not work this to my life to create a bank so some and it's the medium and small but still completely completely was a. they're going to be taken over by the bigger ones among welcome scenario and already crisis hit e.u. countries but michelle is one of the lucky ones he shel

in southern europe the euro dream is fast becoming a nightmare in spain their main huge protests against austerity cuts new labor noise which opponents say will make it easier for workers to be fired but in a country where unemployment rates are among europe's highest but the financial crisis isn't stopping in new regulations and coming from brussels as our correspondent as our savior reports. here is much ado about these feather creatures . and jan first of disappear the european commission's welfare of laying hands directive that the use of battery cages like this and now the choir's at least seven hundred fifty square centimeters of cage per head. and. they look at is the amount of investment to make they will say no thank you i will not work this through my life to pay the bank. so and it's medium small but still completely. was akes. going to be taken over by the bigger ones and unwelcome scenario and already crisis hit e.u. countries but it shows one of the lucky ones he shelled out more than three million euros to build the new cages i put. these. was. knocked. down never see. tha

saw an arab spring last year this is the absolute no reason why similar things carol happen in southern europe it is difficult enough to stomach tough austerity measures tough government if it's your own elected government but to be dictated to by angela merkel herman van rompuy oil mr burroughs so is for millions of people just totally unacceptable you say growth is needed and clearly austerity measures don't enhance growth but how do you stimulate a broken economy what is the option i think what the option is for greece to begin with you leave the euro you go back to the drachma you devalue by about sixty percent within a fortnight your holy book is will have doubled i will start to get some growth coming back into the economy no one doubts that tough decisions need to be taken in greece it's obvious that you've got to have some stimulus as well and the only way that will happen is by leaving the bank can you create that drachma literally out of thin air or from what i understand there are no exit procedures for any country to leave the euro zone are dead major barriers to that. what your ri

and banks' failings in southern europe probably could come to pass if greece isn't helped out.-- mouch should we be concerned about the long run effects in the rest of the world doesn't help greece enough? is there -- is it being overdone to say that it could have this kind of domino effect? >> it will have a domino effect, becky, in terms of the economy, not so much the sovereign risk of other european nations but i also join with other people in saying all of a sudden the netherlands have their own budget problem. surprise, surprise, that showed up. i think more fundamentally underneath, becky, both for the netherlands and greece and portugal and italy, is there enough growth out there to pay the bills? i think that's the bottom line story. >> certainly that's a big question right now. but when we talk about the domino effect, john, is that what we saw triggering the selloff in the markets yesterday or are you of the camp that believes no, we were due for a correction, there was selling pressure, people taking profits, and, in fact, the futures are up this morning, so -- >> w

ideas of democracy and the way society ought to be organized that we have or originated not in southern europe but in northern europe just as i think a lot of ideas about where the future of capitalism will develop will not be along the lines of the heavy-handed and irresponsible state dominated capitalism of southern europe but more of a hybrid capitalism with strong respect for the private sector you are seeing in parts of asia. there are a couple of other things. corporations are new and megacorporations are new and they are not. another is -- this brings us into the current issue. the corporation are people. corporations are not people. they were not intended to be people. the first work conceived to serve the state. to provide mechanisms by which states could trade and build up their treasury. it was particularly after the advent of the u.s. and beginning of the investor revolution that we began to see that more things took place in a series of legal cases in the united states more than anyplace else so dartmouth college early in the nineteenth century which said once the corporation was

we have a crisis in some of the other countries of southern europe. we have crisis in ireland. but even within europe, there is no crisis in germany now. unemployment is at very low levels compared to the last couple of decades. there's no crisis in the netherlands, in denmark in finland, sweden, norway, northern europe is doing rather well. low budget deficits. rather high employment. very high prosperity. trade balance, surplus. if we look farther beyond the north atlantic, at the united states and western europe, then it's even less the case that there's a global crisis. after all, in asia, developing asia, meaning india, china, southeast asia -- economic growth rates are at unprecedentedly high levels by historical comparison. china has been growing, as you know, at a rate of about 10% per year for more than three decades. that means a doubling every seven years, and even through recent years, china's economic growth is right now around 8% per year. india, a bit less. other countries in asia, varying around 6% and in some cases higher. the world economic growth is about 4 to

because the united states and its allies in southern europe and in eastern europe want to build a missile defense shield to protect themselves against presumably a threat against iran. what happens when they get in that kind of bluser? the president says, well -- >> you may not -- right. which i think is what michael is saying. that's a potential issue. >> look, you don't want to negotiate in issue, especially not with an overheard mic. it wasn't great for president obama. >> it's not great for poland. that's who i'm worried about. how do you feel when the president is caught saying this kind of thing when he thinks no one is listening? that's what i'm concerned about. maybe it's good for him, not good for him. >> that's generous. most people are not worried about poland. some are, but they're more worried about themselves. >> what president obama said he's open to lots of interpretations. it could be he's waiting to consult with congress and with the military just like he said. nobody wants to negotiate in this. >> what john boehner said, john avlon, was pretty incredible. he did not tak

we thought, or think of the iranian missile program as being a threat to israel and southern europe. in a few short years it could also be a threat to the continental united states. >>jonathan: and breaking news from the associated press, diplomats say images show iran cleaning up secret nuclear work. it is not clear what they men by "cleaning up." are they stopping the work? are they trying to hide the secret nuclear work? more tonight on the fox report. >>shepard: we will bring in former intelligence officer for the office of the secretary of defense with us. and he also is a former director of strategy for the white house homeland security council and the c.e.o. of the security consulting firm. mike, journalists want a little more concrete stuff. what we have is a bunch of crap floating around in the air. this is no way to know if this is real, if it is election year politics but it is frightening to be caught up in the middle of delivering a message and you don't know the truth. >>guest: well, if you want to get to the truth, what are the foundational elements? why does iran pres

the french get out of the business of this partnership with germany in forcing discipline on southern europe? >> yes. >> you think that they will have to continuing doing that but you're worried the germans won't be able to continue to do that? >> yes. the real concern is that germany decides it doesn't want to play the central role it has played in the eu, which has been the banker and the country that often makes sacrifices for greater political union and german voters are tired. it's in germany's economic interest to do that but politically, that's not as sure a thing as it has been. >> bruce, you do a lot of modeling for the cia, for the state department, for other governments. if you were to try to construct a model, do you think that -- about whether the euro is going to survive or collapse through this period of crisis, what would you say? >> i think the euro zone is going to likely survive for at least the next few years. longer term, that's a different story. i think richard is a little optimistic about the possibilities in france. >> you think sarkozy will likely win? >> i think he

iran's longest range missile is about 1,500 miles, which means it can put a dent in a field in southern europet the north koreans have missiles much longer than that. the iranian have a shahab 6 and if it does, it can just about hit alaska. so this is really important for us. >> thank you very much. we appreciate it. a man that's been studying the nuclear program in north korea for a long time. >>> there's a verdict in the rutgers suicide web cam trial. paul cowen said that dharun ravi needed to do one thing. he didn't do it and russell brand turns himself into police today following an altercation and could be facing felony charges. there are a number of things to talk about. all energy development comes with some risk, but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife.

the cfo of sotheby's says uncertainty over southern europe's debt crisis has kept potential sellers onhe sidelines. for the full year, the numbers were strong, boasting more than $171 million in profit for 2011. that actually was the best year since 2007 for sotheby's. nonetheless, tough day today because of the fourth-quarter numbers. it's dragging shares lower on a 52-week basis. the stock has wiped out about a quarter of the value. today alone with the 9% sell-off on bid sotheby's. not a good day for that stock. >> no, bid getting a lower bid, that's for sure. thank you, maria, very much. they may not be stealing the headlines right now, but there are some "under the radar" stocks making moves that you need to know about. bertha coombs has the case details. >> we know how important facebook is to zynga and vice versa, the company's going to start beta testing a new platform next week. zynga.com will let players its game but also social games by third-party developers. rich greenfield said this will create an all zynga ecosystem. it will give them a little independence. biotechs are

plenty of cold air on the planet around the arctic, pushes over to northern europe and central and southern europe while, but it wasn't able to make it past, down into the middle of the u.s. this year or the southern part of the u.s., and to be honest, it hasn't made it into much of the northern parts of the u.s. this year. that jet stream pattern had held it to the north. it has been in canada, the arctic, and alaska, very cold with big snow in alaska, but the bulk of this country hasn't seen it. >> how much of this comes down to just bad luck in the end? or for many people last night, good luck in that they survived it. but looking at the general pattern and the area it hit, you know, most of these tornadoes, i guess, just hit fields or waste land or whatever it may be. they don't hit directly on small towns, do they? >> well, i tell you, the way this goes with this, this is, you know, 15, maybe 20 tornadoes in a cycle is not an incredibly bizarre pattern. it happens. it just usually happens about two months later than now. you're not usually looking at an outbreak like this in february. in this

asia performing well, southern europe portfolioing badly. caribbean's exciting, mexico less so.s really is pretty important. >> okay. so then you heard our previous interview about divestitures. you're saying certain areas are not doing well, what are your strategies then? is it wise to get rid of the underperforming assets and grow in others? if it's smart to grow in other places, where would you look to gro in the world right now, hammish? >> i think asia's always the answer. but we're trying to attract consumers from the americas to sample our products. from one perspective we have a big project coming up in the caribbean. and the government of jamaica. we're quite excited about that. we're looking in northern europe in markets like acetone ya, which i think are developing. and we're also looking at south america. and in the u.s. really focused on three gaming markets. we're looking at ohio. we're looking at new jersey. and we're looking at massachusetts. each of those markets we think has potential for our brand. >> just talking of new jersey, i understand you have a six-mon

not only asia, but also south america, southern europe.of shuffle master's revenues are international. >> hey, dennis, it's josh. is the story here that shuffle master is essentially the arms dealer? so we don't care so much which region or particular hotel is strong so long as they're all buying products from shuffle master? >> yes. >> okay. >> they're a little different than a slot manufacturer, which are considered arms dealers also. but there's going to be plenty of cross border wars in the u.s., in asia, in south america. and the more jurisdictions, the more need for gaming supplies. shuffle master pretty much has a monopoly on the table side of the business. they make the shufflers, as mandy said. proprietary table games. >> what's your target on the stock right now? it's 17 and change already. >> i think the stock can get to the mid-20s over the next 12 to 24 months. i don't know if it's going to go straight there from here or whether it needs some digestion over the last big move. but higher is in the cards. >> okay. you've got a b

chance the rally may start again but, a combination of profit taking, disappointing data out of southern europe, politics is going to be difficult in france ahead of the presidential election. plus, of course, the elevated oil price and the political whis perfecting. there are a lot of reasons why equity markets probably at best trade sideways, probably we have a minor reversal over the next two to three months. >> what about sterling? is that going to put more pressure on sterling is this. >> i think sterling is kind of in a meyer. it's not going to go particul particularly anywhere. i don't see any reason for sterling it particularly to move. i think it's more interesting to watch the pressure coming out in the euro are. that's where the key driver is going to be, and it's a question of do you hold euros because you expect things to get better or for the euro to become the new deutsch mark, or are you holding anything but euros? bearing in mind what the holdings of euros are outside europe, the fact that the -- >> more qe or not or do you think it's too early? if we get weaker data from now o

we expect by about five perce percentage points to mainly the situation in southern europe and all in all, the total market by about one percentage point and we know that we can outperform the market by some five percentage points. >> okay. so the growth side is there. what about the margin side is this increasing costs and other material costs. >> yes. as a matter of fact we had to to talk with an additional prosperity in 2010 and 2011 combined in the range of 1.5 billion euros which is quite a lot. we believe that the situation is stabilizing but still we expect an additional prosperity in this year over 2011 of 100 million euro and we have another negative impact coming from the earth material because of launching programs. we have developed customers. we expect costs of another about 150 million material. >> mr. degenhart, continuing that debate, what about the prices? will you hike prices to try to even out margin prices for this year? >> good question, patricia. in case the base material for rubber, and we are talking mainly with about synthetic rubber now and other materials, w

but you really need, i think, to supercharge the export sectors in southern europe to enable them. the kind of fiscal consolidation you are talking about in these countries is still extreme and intense. for example, in italy 3% gdp fiscal consolidation is what the government plans just for this year. in spain not exactly clear after friday's announcement what it plans. probably something still of the order of 4% gdp, fiscal c consolidation. these are very, very large numbers. portugal about 5% of gdp. to help the countries get through this when their unemployment rates are surging, they really need, i think, to have a weaker euro. they can cut rates more. as well the ecb has to be ready to react to the program. really it isn't doing -- of course, at the moment, there's still the impact of the ltros really to be fact touring in here. clearly if you look it at the impact of the ltros, spanish banks bought 23 billion euros of debt in december and negating january. now the total financing needs of the spanish software for this year about 90 billion euros. so already just within two mon

if you listen to the news about europe, that's very different than tech spending. the southern part of europe, portugal, spain, italy, are very challenged from a tech spending perspective. but the northern part of europe, u.k., france, the nordics, germany, continue to be strong. when you blend all of that together, we're able to deliver the kind of results that you saw. and we continue to be relatively bullish about the health of i.t. spending in europe. >> now, i would think that a lot of the i.t. spending would be bank, financial. but we keep hearing about how the financials are all hobbled over there. >> they are. our strength was snb. europe is much of an snb economy than the americas are. and, so, the snb market continues to be strong. and the consumer market was weaker. when you average it together, we did pretty well. >> manufacturing, great in germany. >> it is, yeah. >> so you definitely have a lot of demand. germany is really strong, right? we always forget that here. >> it is. and to give you another data point, we've been in business over in europe now for over 20

the next say several years, five years, the missile ranges are encroaching on southeastern europe or southern russia or other regions. the saudis are concerned about the iranian missile ability. in the outyears, let's say within a decade or so, iran probably could have the capability to launch missiles that cover the entire european contine continent. in my view, they got the order backwar backwards. it is the medium change that are proliferating widely. how far? how long will it take before iran gets them? who knows? on the order of a decade, maybe two. so this is the threat that animates the european phase. they could be a political threat. we saw conventionally-armed missiles launched in the middle east and gulf war. in my mind, without some sort of weapons of mass destruction, particularly a warhead, these missiles are not particularly -- i would not spend billions of dollars to defeat them. iran does have a suspect nuclear weapons program. you have been reading a lot about that in the newspaper recently. the concern is, again we don't know the time frame, but they can build a nuclear dev

one of the things that would be interesting is what he thinks is happening in southern europe and howat. italy, spain, even though the banking system looks like it's going to be surviving a little while longer. >> well, europe is going to have a tough two or three years as far as growth and recovery is concerned. the basis of it is right. it goes back to the point i made about what the united states did in late 2008 and 2009. we had the fed injected $13 trillion of support through the credit markets, flu the mere yawed facilities. the first version of them and we followed a textbook approach which in a financial crisis, you respond with overwhelming force and you respond fast. . europe did not do that. not a fully developed central bank. obviously not the capacity for stimulus. they didn't choose to recapitalize their banks, then, and so forth. it's quite a contrast. and you're seeing that in the extonality to which the united states is recovering, steadily if not rapidly and europe is dementing into session. >> roger, i want to thank you for getting up early with us. >> my plrn. plea

there is a major threat to pakistan if there is a terrorist threat in europe that can be traced back to pakistan. >> in libya, the southern town is a major corridor for economic refugees who hope to leave sub- saharan africa for europe. it is long and dangerous journey across the sahara desert. libyas detention centers are now full of men trapped in the conflict. it is creating new strains. >> one of the biggest problems facing the new libyan government is respighi's from sub-saharan africa. this town is deep south of libya -- is refugees from sub- saharan africa. these are men from countries like somalia and niger. they are stuck here in libya. there are thousands of them here, creating a massive headache for the new libyan administration. there are 800 refugees in this compound alone. thousands more made the perilous journey across unforgiving deserts', often paying exorbitant fees, some of them being robbed of all they had left. >> it is very long distance to come here. >> african seeking jobs and a better life have always used libya as a transport point, but the turmoil has exacerbated the problem. we need more help f