we want democracy in spain. really some consistency was what the king was stressing today. >> these images in the center of madrid with the king proceeded by the military on horse back. the queen sitting at his side waving to the crowd. they present a very image. i wonder how big the crowds are there. you were telling me earlier today that forces will not be there to wave flags of opposition. how do you think they'll flag that? >> people that aren't supporting the monarchy aren't turning up today. it is worth underlining the republican movement in spain might feel it's not elected, doesn't have anything positive to offer spain at the moment. that doesn't mean that on a personal level they don't respect the king juan carlos and new king felipe vi. it's more the republican movement would like a referendum on the system spain has in the way that the country has administered. at the core of that is yearning of more transparent and accountability in spain a. people have had enough. >> thanks indeed. in the studio wat

the disaster at the world cup, chile of course beating spain 2-0, meaning that spain is out of the competition. >> the world champs. >> the world champs, exactly. a lot of people have been poking fun at the spanish team. my favorite was this one where you see juan carlos with the team when they won the crop -- they won the world cup together. >> and the ongoing strike, now cf, on nice day, the sn strike. >> the light might be at the end of the tunnel. the controversial reform of the railway system have been sweetened. this could calm things down. the ceo of the international rail service gets an interview. he says it is time to get back to work and he promises travelers a 33% discount on train passes for july, so take advantage of that. but he really has lost a lot of money. 153 euros because of the -- 150 3 million euros because of the strike. 400 million euros per day because of the strike. >> lots of developments over calls to change the name of a very famous sports team. >> this has been going on for years, decades. there have been calls for the washington redskins to change their name bec

spain's king juan carlos is abdicating.ement was made by the spanish prime minister although we are expecting to hear from the king himself shortly. it could be in ten minutes time. if he does start speaking we'll bring you that statement as soon as it happens. the prime minister said the crown prince felipe would take over the crown. the constitutional amendment would need to be opposeed to allow that to happen. the 76-year-old carlos has ruled the country since 1975 a overseeing spain's a dictatorship to modern democracy. carlos is described suffering from ill health recently as a symbol of spanish freedom. this report by emily buchanan. >> the king's legacy is a defender of spanish democracy. this was an attempted coup in 1981. military police seized control of the country's parliament. instead of unraveling back to military control, the young king stood firm with this television appeal to the nation. >> the coup was defeated and the king's popularity soared. the royal family had fled spain during the civil war. later fr

reporting from madrid in spain. as one of europe's most colorful royals the outgoing king was also a good sailor and even shown in the one nine hundred seventy two live crew was threatened back in the eighty's by a military coup which he survived going on t.v. and calling for the public's support of democracy. but as a key to cyclists they dip into the legend of him being in. by the helping people on remote roads and the king hit headlines again and if it was they asked the late venezuelan president hugo chavez but shut up. there on the host and he's. really think of the royals do people in spain care well definitely people in spain care and that's why. on the streets through the streets recently i mean people actually wanted to have brendan be really to decide whether they were a king billions or they just wanted the team to beat up forever so that was the main concern is the. state. is. reporting from london.

in spain. well as one of europe's most colorful royals the outgoing king was also a good sailor and even shown in the one nine hundred seventy two olympics israel was threatened back in the eighty's by a military coup which he survived by going on t.v. and calling for the public's support of democracy although bud probably wasn't quite so supportive of this costly elephant hunting trip to botswana but as a keen motorcyclists they did warm to the legend of him being an incognito rider helping people on remote roads the king hit the headlines again when he famously asked the late venezuelan president hugo chavez to literally shut up on the spanish correspondent bruce years ago via and the host of in the now and eastern hour he talked more about what spain is really think about their royals. do people in spain care well definitely people in spain in spain care and that's why thousands of people took on the streets to the streets recently i mean people actually wanted to have a referendum they real

we are definitely in the propaganda phase in spain.o on this show, we are committed to deny ouncing it. today, there is no real investigative journalism. we don't get to the bottom of big stories like the corruption scandals the way we should. which might explain why some 2 and a half million spectators are tuning into more viewers than those watching straight news but rarely does a week go by without the show rubbing the establishment the wrong way and despite the ratings many say it's one joke away from being taken off air. >> that's the risk they take and the edge they thrive on. online news site, founded in 2012 by journalists who lost their jobs in a wave of newspaper closures said it decimated the spanish media landscape. two years later, they are getting up to 3 million hits per month because they are breaking stories, important ones. . >> we have published stories about the bank. when it went bankrupt at the beginning of the crisis. the cogpromise investigation and a banker who first the bank in which triggered spain's financia

chile ran out two neil winners -- 2-0 winners, ending spain's world cup run. >>> spain has a new king after the ab dickation of juan carlos. no leaders or royals have been infitted. we go to madrid. mixed emotions for spaniards out of the world cup, but they get a new king. an end of an era on the palace and on the pitch. is it sinking in there, jonah? >> i passed glum faces coming in here this morning after the game on wednesday fight. it's a lot to contemplate and take in for the spanish nation. the end of the rein of a king who sat on the phone for 40 years, and the end of the twice european and world champion footballers going out in the second game of the world cup, it's all over the newspapers. the two top stories. el-mondo, the national. the monarchy, felipe and juan carlos, father and son. here brazil 2014, the end of a golden gauge, looking desperate -- age, looking desperate. these are two united nations, important to them. or have been in the past, in the hearts and minds of many spaniards. the footballers brought home successive injuries. juan carlos's glory days may have

let's listen to king juan carlos i of spain.go, i signedears a commitment to serve the interests of spain. decisions thee stakeholders of their own country. country into a modern democracy, freely integrated into europe. undertake theto important national task to enable citizens to choose legitimate representatives. after this great transformation of spain, which we needed to do today, when i look back, i feel pride. i feel proud for what i did and grateful to you. i am grateful to you for everything we have been able to do over the years. i'm grateful to you for the support you have given me to accomplish my task. i was very young when i became king and the situation was very difficult. then, we enjoyed peace, liberty, and progress. my father'sloyal to word, the count of barcelona. to want to be the king of all spanish citizens. i have been inspired by him. i have benefited from and enjoyed your success. i have suffered from the difficulties facing you. the grave economic crisis, which we have experienced, has had a very advers

do people in spain care well definitely people in spain or in spain care and that's why thousands of people took on the streets to the streets recently i mean people actually wanted to have a referendum they really wanted to decide whether they wanted a king stealing in spain or they just wanted the team to beat out for ever so that was the main concern is they in a monarchy kind of state or going back to a republic because it's inexpensive and it's to hold up oh yes definitely this these house these royal house is going to cost these two year twenty fourteen almost eight million euros that's what's going to coast to maintain all the royal family some people who appreciate the royal family all those people who are very conservative. so basically very religious very catholic that's a profile of people who support the monarchy right now nowadays in spain on the other side you have the press recently there was a case of censorship even in one of the most popular satirical magazines in spain it depicted king juan carlos passing the crown crown and it's really to prince philip it but this

people in spain care well definitely people in spain in spain care and that's why thousands of people took on the streets to the streets recently i mean people actually wanted to have a referendum they really wanted to decide whether they wanted a king still in spain or they just wanted the team to beat out for ever so that was the main concern in a monarchy kind of state or going back to a republic because it's an expensive emmett's to hold up oh yes definitely these house these royal house is going to cost these here twenty fourteen almost eight million euros that's what's going to coast to maintain all the royal family some people who appreciate the royal family all those people who are very conservative. so basically very religious very catholic that's a profile of people who support the monarchy right now. don't forget you know plenty more news stories on our website including the one about environmentalists in new zealand who have been left out rage lives up to the government licensed oil and gas drilling in the world's rarest dolphin sanctuary they say the last fifty five speci

people's lives aren't changing here in spain.re's a long list of problems to address. >> was there anything significant in what he had to say? >> reporter: absolutely. you could call his speech the "i hear you" speech. what i mean by that is king felipe was emphasizing he knew people wanted a new era. he made reference to ethics in public life and said he realized the royal family had to lead by example. now spaniards are fed up with corruption scandals including involving thele palace indirectly. the king's son-in-law is investigated for embezzlement for funds. his daughter, her husband. there was a sense of turning the page there. they don't want this anymore on the thrown. they want somebody more serious. so the speech was reaching out to all spaniards as we can hear. >> ladies and gentlemen i would also like to express solidarity with all of our citizens who have been hard hit by the economic crisis. we must insure that we work hard to overcome the situation and insure we can offer the necessary protection to those people who

i want the best for spain, a country to which i have devoted all my life and put service for spain all capacity, all my work. my son felipe who is heir to the thrown. he is the incarnation of stability. when i turned 76 in january, i decided that the moment was ready to prepare for passing the baton to somebody who can insure that stability. the prince is mature, prepared, and has a sense of responsibility. all necessary to assume the leadership of the state and open a new era of hope where the experience he has acquired and the impulse forward of a new generation go together. he will count on the support of his wife for all these reasons in order to give the spanish people the best service. as i have recovered physically, i have decided to put an end to my reign and abdicate to spanish crown. i'm asking the corpus to provide constitutional means for the transfer of the crown. i have informed the president of the government this morning, and i wish to express gratitude to spanish people, all the people who have been in power, who have manned the institution in my reign and those that h

what has been the rehabilitation to spain's exit -- reaction to spain's exit from the world cup. >> it's total disbelief. people cannot believe it. it's a strange day. a new king is in power. in a way, you know, spain is seceding its crown. there are many people, many different explanations. the only thing is the general consensus is this time it hurts left due to six glorious years, giving us the best national team in modern football history. >> where does the team go now? how can they recover from this? >> you have the french example. they were badly eliminated in south korea. and went on to be finalists in 2006, without changing the team too much. there are three things that people say - three factors that have been very decisive. one is after the game, the well of ambitious ran out. spain is dry, they didn't have hunger to win. it changes with the players, and others leaving. another one is basically saying that the frags was greedy in the sense this they made lots of friendlies, nations or territories. at puerto rico, like, for example, el salvador before the world cup, with all due

so for us, the history of us is close with spain. >> the mood in spain has changed some under under momentous movements calling for referendum did well in the realtime elections. >> many expect their popularity to grow as spain prepares for elections next year. for now, these alternative movements have no real pour in parliament and the senate where a succession law is expected to pass easily. in a few weeks, this man, prince phillipai will be crowned king. al jazeera, madrid. >> some of the relatives of the passengers on board of missing malaysian airlines jet plan to offer a reward. it's been three months since the boeing 777 carrying crew and passengers vanished. a campaign to raise $5 million for the reward says someone somewhere must know something. >> we have been cut off so many times at the get a that we now are having to things outside the box and trying to do something to find this plain. >> security in thailand's capitol, bangkok is being stepped up outside ati shopping center. it is seen as a flash point. a group of women inside the paul gave a three-fingered absolute, a single of

catalonia is not like spain and we must be allowed to vote. it's the job of politicians to know what people think. perhaps not obama additions in madrid that would agree a referendum to decide whether catalonia wants to separate from spain was banned by the country's parliament despite opinion polls suggesting up to eighty percent of locals wanted to be held at a long process for indefinite it's. a troll to rush. with upshall of respect. by lands for activists and i think it's our our power is the democracy with a population of around seven and a half million people that only makes up around one sixth of the entire population of spain and could easily be called one of its richest regions its g.d.p. isn't only higher than the average in spain but the entire european union's average as well barcelona support is one of the largest in spain when it comes to cargo and one of the biggest here for tourists seventy two thousand people with just one weekend is a normal thing here and also deals with that role and gas products and its salt water is a go

the spain team that came out against holland? it's difficult to know what will happen, but this is a crunch match for spain. they need to win this. if they do not, they're out of the competition. let's see what happens, but i think it will be close. >> thanks for coming in and giving us your analysis, and thank >> welcome back. we start with business news. in washington, the federal reserve announced it would further slow the pace of its bond purchases. the bank says the u.s. jobs market keeps getting stronger and needs less support. >> but the unusually harsh winter has also forced the fed to slash its growth forecast for the year. the central bank now says it will be more like 2% growth. >> the chinese premier is in europe. he signed trade and investment deals with billions in london and said china's steady economic growth would continue without further government stimuli. >> at the same time as the premiers meeting with british by minister david cameron, the premier announce the start of direct trading between the two countrie

the spain's third most important paper, the reasons are different.he editor works for independence the owner was not. so, he replaced him. >> there were all of these politics behind the newspaper newspapers. but i guarantee you, there is nothing political or economic or whatever kind of power behind the change of the editor. it is true that the decision was taken at the time b el mun to do was being critical. government. fundamentally with the barcelenas affair, but the final decision was a corporate one. spep's mainstream press has had so many money worries, it's been hard to focus on journalism. since the 2008 financial meltdown, advertising revenues have shrunk by 60% dozens of media outlets are closed and thousands of employees have been laid off. after that, the steep dreck drop in circulation due to free digital alternatives, the papers are under pressure to change things. >> we are committing suicide by charging for newspapers and not for online content. the public needs to realize information cannot be free if it's going to be good. quality j

spain has a lot at stake for their world cup match against chile. they will have to make up for their crushing 5-1 loss from the netherlands. coming up for you this hour. paris is one of the most popular tourist destinations in the world. you might not know that one of the busiest attractions is not actually in the french capital. more from the land of mickey on the way. it would not be france without a strike. in the midst of a very big one. 8 of the rail strike causing train trauma around the nation. first, to the largest oil refinery in iraq, it has been almost completely overrun by the sunni militant group crisis. in with machine gun fire and mortars. on tuesday, foreigners were evacuated from the refinery as security forces brace for the attack. the isis fighters have been holding the town of beiji, pictures from social media show them moving in. they have taken over most of the oil refinery. fears that the conflict could divide the country along ethnic lines. yesterday, sunni, shiite, and side-by-sidestood in a televised show of unity. shiite,

but you are overweight spain. germany doing better than spain. spain has had a good year. it is pretty much at an all-time high. >> that's right. we are overweight for different reasons. spain is all about the domestic recovery that is coming through now. unemployment is stunning to fall marginally did union labor has fallen which makes it a more attractive place for investments. we like domestic plays within spain. germany is a different story. germany is an export powerhouse for europe. because of the actions by the ecb two weeks ago, they were and fairly and squarely to contain the euro. continue but it was starting to impact on inflation, potentially bringing inflation into europe. the consequences of the ecb's action to reduce the risk of deflation is to stabilize the currency or to get the currency down. who benefits mostly from that is germany. it makes them more competitive for exports. that means all their international earnings will improve. in the first corner of this year, we had a situation were earnings were being downgraded because of the strength of the eur

but all the excitement is chile and spain. how is the atmosphere there? >> reporter: this is a huge world cup game. i can tell you the one thing that is familiar for spain is that they will be wearing their red shirt. so they'll get the honor of doing that. you look around the stadium here and all you see are the red shirts of chile. there are many, many thousands of chilean fans swarming around the stadium, very excited about the chance to knock out the world and european champions. what an honor that would be for them. unfortunately, there has already been a security breach, which is something that fifa will need to look into, the tournament organizers. over 100 chilean fans. somebody got through security. it's something that people won't welcome. it just shows that there are overexcited chilean fans. >> a lot of pressure is on spain. do you think they'll be able to come back. can they make it? >> they really need to keep their composure. it might not be all that. what about the chilean team. they're on their own continent. could they have the man who k

decide whether they wanted a king still in spain or they just wanted the keen to be out for ever so that was the main concern in a monarchy kind of state or going back to a republic because it's inexpensive and it's to hold up well it's definitely these house these royal house is going to cost these three or twenty fourteen almost eight million euros that's what's going to coast to maintain all the royal family some people who appreciate the royal family all those people who are very conservative. so basically very religious very thought leg that's a profile of people who support the monarchy right now nowadays in spain on the other side you have the press recently there was a case of censorship even in one of the most popular so terkel magazines in spain it depicted king juan carlos passing the crown crown and they actually to prince felipe but this was imprinted i assume on the internet there was a lot of oh yeah. and also several cartoonist all of these magazines resign and they just released today a book against a mourner keep. you'll keep stepping on four hundred seventy two ol

care well definitely people in spain in spain care and that's why thousands of people on the streets to the streets recently right after he announced that he was going to abdicate people do care but people do care about what's going to happen with the royal house in spain is it going to stay there partly it is that main concerns well i mean people actually wanted to have a referendum they really wanted to decide whether they wanted a king still in spain or they just wanted the team to be out for ever so that was the main concern in a monarchy kind of state or going back to a republic because it's an expensive image to hold up oh yes definitely is certainly is. spanish taxpayers there are going to actually these house these royal house is going to cost these two year twenty fourteen almost eight million euros that's what's going to coast to maintain all the royal family so of course it's expensive what about the people in terms of how they relate to the monarchy i mean there are some conservative people that appreciate the tradition what about the press i mean do they make fun of them

spain, the economy back on track.e time that king carlos decides he is going to abdicate and leave the throne to his son. what will that mean? out bothmadrid to find the economic implications and the royal implications. see you in a moment. ♪ a thief faces calls to rerun a world cup vote. corruption allegations are overshadowing a major meeting at qatar. hourig story over the last , spain's king juan carlos is abdicating the throne. we will be live from madrid.

spain's coach admitted he felt sick after the 5-1 thrashing of spain by netherlands. they had gone into the match not conceding a game in 500 minutes of world cup football. we have this report. >> reporter: it was billed as a match of football's heavy weights since the clash between spain and the netherlands lied up to the height. things began well jaffi alonso scoring a penalty, that was as good as it got. half time robin van percy levelled the scores. netherlands scoring another four to humiliate spain. spain's next opponent will be chile, beating a gutsy australian team. they were 2-up inside 14 minutes, but the sokk ruse put in a performance to be proud of. tim cahill scoring for the third consecutive world cup. they couldn't get an equalizer, chile scored, completing a 3-1 win. the other game was a group a clash where mexico beat cameroon 1-0. >>> let's go live to madrid for analysis, and we join a spanish sports paper journalist. what has the feeling in spain been in light of the defeat? >> it's been sock and disappointment. the country is upset at the score lin

some pundits are not naming spain as potential winners.more people are naming argentina, even brazil. other names are coming up far more often than spain, really despite statistics. one of the reasons for that is because barcelona did so badly ins season, and barcelona is a way the essence of the spanish team. some people say that people are wising up to their style of playing and that the old-style of counterattacking is really making a comeback. that said, 16 of the players on the pitch tonight or 16 of the people out there available to play -- they are from the old team that did win in 2010, so excitement about , aninclusion of diego costa up-and-coming football player who has done very well this season. people say that if they need to change their style, he could be one of the players to help them do it. >> we will leave you there to watch the match and check in with you a little bit later. thank you. just when they thought it was safe to go into the water, world cup fans now have a reason to worry. lifeguards have stepped up shark cit

banks well definitely people in spain in spain care and that's why thousands of people took on the streets to the streets recently i mean people actually want a referendum they really wanted to decide whether they wanted a king stealing the. house is going to cost these are twenty fourteen time and some people who appreciate the royal family all those people who are very conservative you have press magazines in spain it depicted king juan carlos passing the crown crown internet there is a lot of oh yeah. and also several cartoonist of these magazine resign and they just released today a book against a mourner keep. the old king stepping don marks the end of an era of extraordinary people on the throne as a gifted sealer he competed in the nineteen seventy two olympics following a military coup back in the eighty's he went on t.v. in full army uniform and ordered troops back to their bases not many royals would pose in a controversial photo having shot dead an elephant whilst on safari in africa and being rude or cyclist did nothing to harm his image among his people but what many will no d

this is the first royal succession in spain since the resurrection of democracy in the 1970's.stions remain about whether the monarchy is the right institution to take this country forward, but this crown here -- this crowd here today is celebrating. >> i really like the monarchy because we do have -- we have people ines about republics, and it is a way of having a prepared person. will be the i think king of all spanish people, so i do not mind republic questions. is the monarchy now better option, the best option for spain. >> finally, the appearance on the balcony of the royal chalice waving to the assembled crowd -- on the about any of the assembled crowd. the new king seems to accept that now he has to deliver on his promise. >> think about it -- it's something you do not see very often in this world, one dynastic monarch handing over to another. congratulations there to felipe vi. from spain to sÃo paulo, where today, england, i'm afraid, suffered its second bruising loss in the world cup. this time it was uruguay that defeated them by a score of 2-1. we are very depresse

in spain. carefully core graphed day as this happens not far from where we're standing toward the residence of the prime minister. he has been chairing a special cabinet meeting where his government will draft up a law. that's needed to make the abdication of the king possible so felipe, his son, can become felipe vi of spain in weeks. >> he becomes the third monarch. we have the pope switching and standing down. does this feel like this is part of a new trend, something britain should follow? >> reporter: i think it's interesting six months ago i was at a briefing at the residence of the king not far from here. officials were writing off the idea of abdication saying it wasn't on the cards. back then, although pressure in the spanish media, the household was doing its best to say this wasn't happening. a lot of pressure in spain's media has died down in months. perhaps the king thought he could come up with the announcement and decision would be more his, a personal decision. so yeah things ha

spain's conquerors chile reached their niche. >> spain's reign ended. if he fell behind after 19 minutes in rio. the decline of the spanish golden generation was complete with a 2-0 win. for the first time since 2006, spain exits a major tournament without the trophy. chile qualifies as into the netherlands with a 3-2 win over australia. it is a first for the dutch. seconds later, cahill scoring. australia were awarded a controversial penalty. scoring puts them 2-1 in front. the netherlands responded with an equalizer. they wrapped up the win to knock the aussies out, securing a 3-2 victory and qualification for the dutch. >> cameroon heading home after a 4-0 flashing. it's been a bad world cup for the african nation, cameroon player sent off for violent conduct. two gels added to seal the win and two points for croatia. it will be enough to ensure their qualification. he head butted his own teammate. >> mexico and croatia will be looking for the victory that would guarantee their progress. those games are monday. >> cameroon and spain fans may be doing

spain next plays chile, beating a cuttsy -- gutsy australian team. the chileans were up, and the sokk ruse put in a performance to be proud of tim cahill scoring for the third conservative world cup. they couldn't get an equalizer, chile completing a 3-1 win. the other game was a group a clash, mexico beating cameroon 1-0. >>> and you can follow the sports and current affairs news on the website at aljazeera.com. the story we are covering on the front page is the afghan presidential run-off election. more on that after be get it. stay with us here on al jazeera. forgiven for thinking it's 2004 again. maps of iraq, escalating warfare and fleeing civilians. now the grand ayatollah is calling up for armies to protect it's shrines. iraq at its brink is the inside story.

people in spain in spain care and that's why all took on the streets to the streets i mean people actually want to have a referendum they really wanted to do king still in spain or they just wanted the keen to. stay in a monarchy kind of state or because it's an expensive and it's to hold up what you stephanie is. fourteen. to maintain. that's right now nowadays in spain on the other side you have recently in the case of censorship even in one of the most popular so that king juan carlos passing . they have. since felipe it but this wasn't printed. out of a lot of buzz about that several cartoonist all of these in ireland they just released today a book against mourner keep. now there's plenty more stories for you sentry to assuring the location of the device work. department and there's always a policeman nearby they're not worried about shoplifters but the perpetual presence of one man inside that building it's two years since june in the sun so refuge in london's ecuadorian embassy inside a bottom floor flat in this red brick mansion in that time the wiki leaks editor in chief has still

. >>> spain's king juan carlos has appeared in public for first time with his son. tens of thousands of people took to the streets on monday marching and chanting against the monarchy. reporting from el escoriale. >> in his first appearance since the abdication, king juan carlos looked frail. his son always by his side. the king might have lost his popularity in recent years but to many people here he will always be remembered as the man who made democracy possible and united spain. >> we are a different people but all that has the king, the king of spain. >> reporter: the gra gran grar spain, tens of thousands of people came to the streets on monday calling for a referendum. >> translator: i think it would be better if the whole family abdicated. and allow us to be governed by politicians that we elect. >> reporter: but the spanish government is ignoring the critics. approving a draft law for the succession the law now needs to be passed by parliament. many people here think this was a political decision. it's far easier to pass a succession law with a conservative

let's go to spain.hey has just finished giving his first speech as king after seceding his father. he said creating jobs for young people should be the country's priority. he also said spain has a moral duty to help those hurt by the economic crisis. quick look ata how european markets are trading this morning. thank you. equity markets and takers of risk are appealed by these markets on the back of what janet yellen said. christine lagarde is about to tell mr. druggie what he should be doing -- what mario draghi should be doing. would you dare to tell the fed what to do? u.s. equity futures are higher. combined with china, growth rate of 7.5% and the prospect that maybe christine lagarde could be right, maybe we do need a vast flood of qe in bonds. share of buybacks coming through at rolls-royce and the delivery of over 4000 engines by 2023. rio tinto, a nice reflection of what is going on in the overnight market on the back of the chinese market. >> thank you. exclusive, another ledger luxe has been s

in places like spain. youth unemployment, this is the number that shocks people on this side of the atlantic is that about a quarter, over 40% initially, over 50% in spain. so we're seeing truly shocking numbers, still. now, the myth persists that these are the result of countries mismanaging their public finances. this was the case in greece, but aside from greece, it wasn't the problem. the central problem in europe was huge capital flows from the core of the euro zone, places like germany to places like spain in the periphery of the eurozone. this was interbank lending. that combined with the absence of so-called adjustment mechanisms in the eurozone is the crisis, not mismanagement of public finances. basically, interest rates in the run-up to the crisis were far too low to the likes of spain, ireland, other countries and too high for germany's economy. inflows of all of this money led to booms in those economies, pushed up their wages and costs. when the financial crisis hit, the capital inflows stopp

care well people in spain in spain care and that's why thousands of people took on the streets to the streets recently i mean people actually wanted to have a referendum they really wanted to decide whether they wanted a king still in spain or they just wanted the keen to be out for ever so that was the main concern in a monarchy kind of state or going back to a republic because it's inexpensive and it's to hold up oh yes definitely this these house these royal house these are some. very religious. people who support right now not when these stain on the recently the. censorship even in one of the most popular satirical magazine is depicted king juan carlos the clown. and it's really to prince philip oh yeah. and today again the mourner. casting in the dolphin century with double trouble in french roads it's not. his self-imposed incarceration. of information or has more. stagg they're not worried about it but the perpetual pride of one man inside that building. is janice own so. inside a bottom floor. and become the hollywood he's also had to share the title of the world's most famou

spain's king juan carlos said that he'll step down from the country's throne. >> there have been running gun battles between pro-russian militia and ukrainian troops in the country's east. it began with a talk by hundreds of separatists in a camp in luhansk. five of the pro russian fighters were killed. >> reporter: the ukrainian border guard under attack in a dawn raid by straightist fighters. surrounded by a force of up to 500 strong. ukrainian jet fight precious scrimmibled, flying missions over the city of luhansk, where it claimed that the attack was being order nateed. heavy plumes of smoke rise above the skyline. the region northeast of the city of doneskt has seen a sharp up serge in supplies of ammunition and new weapons. ukraine's president-elect has vowed to press through a military mission against them. labeling them as terrorists and enemies of the state. it's attacks likes these that could endanger that mission with each day that passes more and more volunteers are coming in, many of them battle-hardened veterans with military skills and weapons that could really challenge

independence bit is on the rise for the majority of voters in the region backing separatist parties in spain's european parliamentary election. that i welcome you watching r.t. international now the european union's top police officials are raising the alarm over the rising threat of terrorism inside the block what's worrying is that the danger is coming from e.u. citizens returning from the conflict zones in the middle east a frenchman with ties to radicals in syria has admitted killing three people at the jewish museum in brussels in may well director of europol robert wainwright here says threats may come in different forms and are especially evidence in the case of days coming back from syria europol also says there were over one hundred fifty attacks carried out within the last year in which seven people died meanwhile the u.k. which has been hailing the rebels from the start of the syrian war is now having to deal with the consequences r.t. sara first reports. is this picturesque waterfront city of portsmouth where much to do with how three lives at least until he became the first britis

shakes spain. we'll tell you why many spaniards are displeased with the royal family and give you an insight into the life of one of europe's. washington comes on the thought of a negotiation with the taliban after it swaps five minutes and leaders for an american soldier held captive for five years we've got the story in a couple of minutes. it was a. very hard to take i. had sex with her but there was. one. of. the. welcome back pentagon chief chuck hagel hopes the u.s. will restart direct talks with the taliban after the minutes and greet released an american soldier held captive for five years in exchange for five minutes and detained by the u.s. as terrorist suspects he has this report. after years of fighting the taliban but the u.s. is now seeking to appease them secretary of defense chuck hagel said there washington hopes a prisoner swap with the militant group may start new talks and we hope it will present in opening as you know we have strongly supported an afghan led effort. to come to

this is proceeding the democracy in spain.an carlos is stepping down in favor of his son. no announcement in this country on whether we will follow suit. more on that to come. >>> meanwhile, here's where we stand with the european equity markets. we are flat to slightly higher. the ftse 100 up a third percent. the ftse is up a third. and the bond markets, we've been concentrating on treasury yields, 2.48% is where we stand. a tick up from where we were last thursday hitting an 11-month low on the ten-year yield. slightly stronger data on friday from the midwest. business activity ticked higher. and on the currenty markets, euro/dollar is down to low 1.36. that's ahead of the ecb meeting on thursday. sterling is also off slightly with the mortgage approval data. >>> and we have more comments out from mr. lavrov, the russian foreign minister in the last ten minutes or so. suggesting that russia will submit a draft u.n. security council resolution calling for immediate end to violence in the ukraine. that should be submitted toda

>> symbolically it is a positive move for spain. to buildis looking this narrative of renewal and regeneration, then what better young,do that with a dynamic, educated, modern king ,n the throne to replace this to be frank, doddering old man who has needed to be rationed because of his infirmities. forward, kinge juan carlos has been a tremendous asset to spain in many ways. he is a major figure on the world stage who is able to pick up the phone and speak to world leaders everywhere from the white house to the kremlin. that is difficult to replicate. it will take felipe time to establish himself with the same weight as a statesman as his father had. ,eyond the initial excitement spain is actually losing a significant advocate on the world stage, at least in the short term. >> are thanks to ben sills joining us from madrid. >> let us move on. calls to rerun the vote for the 2022 world cup. allegations surfaced that qatar won the bid following secret payments to officials. that scandal is now overshadowing another major event in the