(speaking spanish) (applause). >> (speaking spanish). >> these are the spanish influences. >> (speaking spanish). >> they adapted to the style of this type of music (applause). >> (speaking spanish). >> these are just simple spoons, kitchen spoons. (applause). >> (speaking spanish). >> and here we have our principle instrument. >> (speaking spanish). >> the name of this instrument is called cajon. >> (speaking spanish). >> in certain places in africa this instrumentality existed. >> (speaking spanish). >> and the percussionist will play with their hands and their feet. >> (speaking spanish). >> with the african slave trade he used to be in the ports. this type of boxes. >> (speaking spanish). >> so they were sit over these big boxes and play over them. >> (speaking spanish). >> but for the blacks these type of instruments were not allowed to be played because they were too loud and for the church they will provoke movement that was not appropriate. >> (speaking spanish). >> they could also work as a form of communication with the drumming patterns. >> (speaking spanish). >> this was wha

-- >> span spanish. >> are >> >> (speaking spanish). >> are here and it means soul. >> (speaking spanish). >> and when we go to move our bodies -- >> (speaking spanish). >> they mean the essence. >> (speaking spanish). >> when they go to work the earth -- >> (speaking spanish). >> is the contact with our mother nature. >>nature -- >> (speaking spanish). >> that will live us food, take care of us and receive us before we die. >> (speaking spanish). >> we also have this and movement of work. >> (speaking spanish). >> or conversation. >> (speaking spanish). >> which is the key to receive love. >> (speaking spanish). >> and all these type of movements were followed by this style of dance with its own co n coring on gravy. >> >> (speaking spanish) (music). (applause). >> can you play the music please? >> i want to dance with everybody. >> well, he's not there. (music). >> okay do you have any questions? we need to have some minutes and would like to answer some questions. yes? >> (inaudible). >> is it hard to dance? >> (speaking spanish). >> it's not difficult. you just got to put a lot of ef

go ahead. [ speaking spanish ] >> translato [ speaking spanish ] >> he has a lot to say obviously. >> translator: he does. i think we have audio problems. i would like to give you our warmest greetings here from all the activists and other groups that oppose the government that are so firmly and courageously fighting for this change that we very much need and we would like to remind you all that it's vital for the cuban people to have the support and solidarity from the free world, not only from our brothers and sisters in the u.s. but from all over the world because the cuban people is suffering a lot. we are facing a lot of challenges and mostly the mounting repression by the government and the never ending arrests. we have tons of activists that have been jailed arbitrarily and are considered now political prisoners and actually today we have fresh news, a new activist has been jailed

can ask him to go slowly and to stop at certain intervals so we can get his translation. [ speaking spanish ] >> translator: i was saying that our biggest challenge is to face the repression by the castro government and our group is trying to make massive mobilization of non-violent struggles all over the country, non-violent fights. [ speaking spanish ] >> translator: all this to counteract the violent repression by the regime. we need to send our message out. we need our activist to have access to the media so that we can try to get the message out about the importance of this democratic process that is just now starting. we want help from the free world to get out of the oppression, have access to the internet and some other media out there. >> the gentlemen also mentioned -- [ speaking spanish ] >> i understood that he said that radio martee was very important to was in -- >> translator: i may have missed that. >>> the the record reflect he spoke about radio marty an important tool for flow of information for the cuban people. [ speaking spanish ] >> translator: there is an old saying t

[ speaking spanish ] >> translator: i was getting there. [ speaking spanish ] >> translator: crossing the line is what marca or garcia or antunez do which is to engage in a head-on fight with the regime and gain public freedom spaces. [ speaking spanish ] >> translator: it's what they do every sunday. [ speaking spanish ] >> translator: i find it very moving here to find a victim of the cuban repression who lives in a permanent state of unrest. [ speaking spanish ] >> translator: of those of you interested in the cuban affairs can see the acts that took place at her home that can be characterized as state terrorism. [ speaking spanish ] >> translator: she led one of the protests that has been most widely mentioned in cuba in recent years which take place on the stairs in havana. >> so is crossing the red line then mean gaining public space, gaining recognition for your peaceful activities include of cuba. that is what the regime does not permit. that is what gets you arrested. [ speaking spanish ] >> translator: any attempt to gain any kind of public space, any kind of activity by the

spanish] >> [speaking spanish] >> translator: >> [speaking spanish] the increase in remittances andnumber of trips, no increase in the cultural exchanges. >> the [speaking spanish]

] [speaking spanish] [speaking spanish] to conclude i've already said a lot of those that have spoken before me have done so very eloquently the truth is to be said not to be hidden, and this regard in terms of the visa i find to the united states being an official of this regime that kills and harasses the cuban people a complete and salt to us. now she is out there visiting the united states and i would like to ask could we be a posers to cuba, the leaders of the different organizations and the different initiatives go to the united states and come to the island freely? thank you very much. >> thank you for your testimony. let me how the search for the record that the chair is cognizant of members of the castro regime who are here of those that have been said that teheran fully intends to monitor the rights of these three individuals and make sure that they're not repressed or face any consequences if they return to their homes, and it will be the committee's singular focus, and we will certainly asked the united states governments through its intersection in cuba to ensure that the

with more spanish debt.ll work beautifully. german government has come out with quite a few moments. they say there's no schedules for pay outs for greece. it will depend on the troika report. they are wait forge that assessment to come first. say greece should stick to its commitments despite that antonis samaras said he wants to renegotiate the bailout. german government said now is not the time to give greece any discounts. >> german government wants to reiterate that greece has to stick to the terms of the agreement. >> got to love the politics. still to come on this show we'll talk to a guest who says the troika is legally unable to force greece out of the eu. we'll be right back. we we we "worldwide exchange" > . >>> no relief rally from greece. stocks a little bit mixed. dax up three quarters. bond yields in spain well above 7% as the ibex is down a percent. >> take a look at u.s. futures. still in red although the nasdaq trying to fight into the green. we're off the worse levels of the morning but st

banks so the spanish banks that borrowed from the e.c.b. at one percent could then lend i don't much higher than that it's the spanish they it was a way of ensuring that spain were to remain liquid the spanish government of course but for the mr draghi to effect that liquidity good vision of the spanish banks and therefore in directing financing financing wondred. he exacted from both their own end the three matter very see the use of the measures that were put in place over the last two months so the austerity measures have already been place what has happened now is that instead of simply financing this banished state through. in that it gives its banks now that this death that this race between him and sold them as they've been is all in banks it's clear for all to see the europeans are also providing loans in spanish they directly in order to recover dollars that banks the same banks that were being used up until very recently in order to finance really and the arrow of them this from the state now if that sounds complicated it is becau

the rescue package for spanish banks will come with strings attached that's the message from the e.u. as the european competition commission has said the loan will be supervised and that contradicts comments from the country's prime minister that indicated that the hundred billion euros of financial aid was different from the conditional by lots of other e.u. states let's talk about this with john holzman these of political risk consultant on the line from germany hi there joe on the spanish finance minister says this rescue plan his bank says going to be big enough to eliminate all residue of debt now is a fact or fiction. as far as you all can see as my sister might put it meanwhile back on the planet earth i think the reality here is that they've lost control of the story and they're beginning to believe this nonsense the crisis has followed a pattern they've been frantic bailouts for greece portugal ireland and spain and what's happened is that after every bailout the amount of time it takes the markets to read the fine print realize that indeed this is nonsense it isn't all said

the spanish banks so far have been the primary buyer for the spanish debt. well think continue to buy? so we'll have the results in 55 minutes. >> we'll be giving you those results fully here. thank you very much for that. let's just switch from europe to asia if you're just joining us now might be very useful four. in asia, we go singapore for that. >> reporter: good morning. well asian markets mostly traded to the down side as greek election relief was replaced by g-20 indifference. in china, they lost slipping back below their one day moving average and hong kong ended flat. italian and spanish bond yields spooked investors and kept them away from taking big risks. the nikkei lost .7%. the kospi finished unchanged as investors were unmoved. australia the afx 200 retreated slightly, down .3%. central bank showed eurozone fears are still alive and kicking. a much better picture in india. .7% at the moment and after on that surprising pause from the rbi. >> given the news out of spain, the full audit will be delayed until september. we're joined now by our g

billion euro burden investors say the sum set aside to bail out spanish banks won't be enough to cope with a crisis at all or people continue to bear the brunt of austerity and we're also reporting about the promises unfulfilled find out why inmates a grand time of day of being denied the chance to continue their legal fight for freedom after being detained at that notorious facility without ever being charged . next wiki leaks founder julian assange has asked britain supreme court to reopen the case regarding his extradition to sweden almost two weeks after he lost his appeal there is lawyers challenge the legality of the previous ruling in what is said to be an unusual move the famous whistle blowers wanted in sweden over sex crime allegations but his supporters fears extradition will just be a step towards handing them over to the u.s. recently as contacts and acquaintances experience evidence of the pursuit of. being held for questioning particularly after taking part in this program most broadcast right here on r t indeed you can watch the latest edition of a sound you show throu

year and this bankrupt spanish banks. we're being bailed out we've been banged up you know they've been receiving spanish money now for a very long time now the spanish state of course was bankrupt so what was their solution of the great the good of europe died in particular came up with their ghettos so the banks that were being bailed out by this by the state were borrowing from the e.c.b. at one percent could be lent to the spanish government that was bailing them out at six percent now this ponzi austerity big and it is a ponzi a study because all the conditions for having this and that but having the euro where that's the spanish government was wheezing and screwing afaik they would leave the spanish economy into the ground so as they do that these being closed for a year a year you know hoppin that's why spain is bankrupt and has to be bailed out like ireland portugal and greece the only problem is that the bailout fund is not enough to bail out spain and the whole thing is coming down in flames yes i think you may

>> spanish banks. not the best sign in the world. >> france bore roger at much lower rates than it did the last time. markets surge for direction. pmi is a disappointment. it's very rare stocks trade lower in the u.s. after an fmoc meeting, particularly one where they leave the door open nor stimulus. that's it for today's show. >> we'll see you same time same place tomorrow. can't way. good-bye. thanks for watching. ♪ [ engine turns over ] [ male announcer ] we created the luxury crossover and kept turning the page, writing the next chapter for the rx and lexus. see your lexus dealer. all in one account. it's powerful, easy to use technology for trading stocks, options, and futures. optionsxpress, the broker smart traders deserve. open an account today at optionsxpress.com. >>> good >>> good morning. today's top story, spain paying euroera highs to auction dies and within hours the government is expected to finalies a multibillion euro rescue-package. back in the u.s. the fed delivers mostly what mark

the spanish state the e.c.b. has provided large loans to spanish banks at one percent interest rate which they then read lent to their quote unquote savior i.e. the spanish state at interest rates often exceeding six percent yes so what we see is the quick change of debt for debt a quick change a con game where the indebtedness actually increases and the austerity measures are only going to have to be more severe because they're increasing the debt a lot of people think that the programs in place in europe are meant to create some kind of inflation to get some economic growth but they're actually designed to create more deflation more debt more austerity because the goal is asked of stripping and the neo futile ization well it's a con is to take your assets and wealth and that's the simple it's very simple somebody is making money in this equation and it's not the people know it's the folks who are organizing the con game they're of course making out like bandits during this process and they are there every time

because of this spanish deal.sing in anticipate of central bankers everywhere, putting more liquidity into the pot. >> markets on one hand saying give me a reason to get me out of this position. you know, give me more money. i'm not necessarily looking for this to be kwamt feed and focus bud some sort of liquidity injection. >> this year will be a very tough year for airlines because the pressure will come from the revenue site. so last year was a year of cost pressure and this year will be a year of revenue pressure. >> okay. joining us now is michael live from the cme. so, michael. what's your trade this morning. i see oil's back up, at least for brent? >> not surprised that we're seeing the way the commodities market is acting for the liquidity scenario for the same reason they have been anticipating a rally in the market, commodities and equity based and for that reason there's more reason to get short because the belief is you're going to put in most of the good karma into the market right now before we open

the loans set to increase spanish debt borrowing costs may be rising instead. >> the spanish treasury says it will continue to borrow money with regular bond options. that despite the eurozone finance ministers of green to blend spain 100 billion euros to prop up weakened banks -- agreeing to lend spain 100 billion euros to prop up weakened banks'. >> at first, the bailout news boosted trading in madrid, but by the end of the day, the euphoria wore off and the key stock index, the ibex, closed lower than when it started. so far, it is unclear, but there is speculation spanish banks will have to undergo strict restructuring, that weaker institutions will be closed, and the sector will be partially subject ec provision. this latest bailout might stave off imminent fears of a deeper crisis, but financial analysts are skeptical of the longer-term effects. >> spain's problems have not been solved. the clock for the eurozone rescue has been turned back. the problem is the spanish economy and its inability to carry out reforms. >> the bailout is destined to go to the spanish banks via a spec

this is the spanish year, 3.7%. what are the implications. >> it highlights the nervousness across the eurozone at the moment. everything, even periphery markets are on the back foot. there's an awful lot of domestic deman for italian government debt. the auctions don't provide that much of a litmus test for the euro itself. more generally, nervousness is increasing particularly ahead of the sunday greece elections. >> yes. some people wondering whether we've parked grease or volcano parked greece. what's going to happen? what's your key thought on this? >> i think it presents a tremendous venture for the euro and the implications of what might happen have been deflected in the reactions we've seen from euro officials this past week. the spanish bailout package was larger, came earlier than expected. you get the impression that eurozone authorities are trying to build a firewall around the spanish banking sector ahead of a possible major event after the greek election. there's a good chance that zeriza is voted in.

banks not necessarily the spanish people whose lives are being destroyed by austerity the spanish austerity agenda has increased unemployment to over twenty four percent. the highest in the eurozone and now put a bailout on the table when just ten days ago spain's prime minister said his country wouldn't need a bailout immediately after the spanish bailout announcement greece's anti austerity sarees a party leader slammed current euro economic policies saying developments in spain confirm the position that we have maintained from the start namely that the crisis is a pan european problem and that the way it has been dealt with until now has been completely ineffective and socially disastrous like spain greece has already taken a bailout for their banks and austerity for their people which is forced unemployment through the roof increase suicide rates and make greece's debt to g.d.p. ratio even worse not only that the use insistence on austerity may collapse the european union altogether as a spanish government insider told the guardian newspaper if spain falls the euro falls it's not enough

if we do recapitalize spanish banks does that help or hinder the spanish economy? >> it's worth bearing in mind, if you recapitalize a bank, you are giving it capital because it has a shortage of capital compared to loans. if you give a bank extra capital, they can shrink their loan book which usually leads to losses. they can't do it until they've been given the extra capital. we saw this in '08 in the u.s. and uk and japan in '98, if you recapitalize banks, stand back, because bank lending will collapse and will you need qe. >>> the ecb says it's clearly not -- they have a mandate, don't they, for pricibility that goes both ways. why have they ignored m1 m2 data? it's been flashing red signals for six or ten months. >> though we were getting contractions in the periphery area, the flows were just going north. within europe as a whole, we were not seeing a contraction of bank lending, but that's changed. bank lending now is contracting or is around zero even in the northern countries, and it is deeply negative in the peripheral companies. does th almost the first

of course you have to speculate that it might be the spanish banks buying spanish debt, but they managed top end of the range. >> and china continue its to invest abroad, this despite weakness in its economy. >> u.s. futures positioned to open up on the dow by 30. we'll hear from ben bernanke just a little later this morning. look at how the mood as evolved across the globe. global 300 has been pretty quiet, although we've seen gain it is in the last hour, 90 minutes or so. we're now up about 0.4% on the day. and a closer look at the bourses across the continent, ftse 100 up about half a percent, xetra dax same, cac 40 another half percent there. eye bek the oibe ibex, 1.#%. pretty stron 3. >> the past three days greens on our stage from the ibex. nice for a change.. >> the past three days greens on our stage from the ibex. nice for a change. >> the past three days greens on our stage from the ibex. nice for a change. let's talk about sectors. a little more red creeping in. still relatively flattish trade to the down side. utilities lower by half a percent. banks leading the way hire byg

spanish prime minister mariano rajoy: >> ( translated ): i would like to thank the spanish people as they understand some of the decisions that we are taking. they have been difficult, hard and complicated, but believe me that it is vital that these decisions are taken to get out of this situation. >> woodruff: spain has the fourth largest economy in the euro-zone, but the country's banks have been saddled with toxic assets since the real estate bubble collapsed. and high borrowing costs have curtailed the spanish government's ability to help. still, the rescue package triggered mixed reaction in madrid. >> ( translated ): i trust the government we have now much more than the previous one. they seem to be more prepared. >> ( translated ): i do not feel totally safe because after this bailout, we don't know how this is going to end up, and how are we all going to end up. how are we all going to end up paying for this? >> woodruff: the uncertainty underscores spain's perilous state, stuck in its second recession in three years, with one out of every four people unemployed. three other

best spanish. now he recruits a crew for three ships. where are you going? oh, i'm sailing out on a vast ocean there to get to the east. has anyone done this before? no. have you done it before? >> no, no. there wasn't a line to sign up. people weren't rushing to sign on board columbus's ships. so columbus turned to get some local help. he got local help from the pinzon brothers, the pinzon brothers. you they were sort of ship brokers, personnel recruiters, whatever you wanted to describe to them. they're the locals, so it's the pinzon brothers that help columbus recruit his crew and prepare his ships for the voyage. columbus sailed the ocean blue in 1492 with sailing ships that numbered three, the anyonina, w pinta, the santa marie. maybe sort of. not quite. the nina and the pinta were small caravelles, the kind we saw a few moments ago. the santa maria was a carak, which is a larger vessel. here you see the santa maria and in the misty background the nina and the pinta. this is a very romantic vi

we have seen italian and spanish yields higher. spanish yields 6.69%. we're in green today which is an interesting -- not quite sure why that is. 6% over italy as well. we have, of course, got some auctions coming out in spain and italy. auctions $2 billion to $3 billion t-bills. interest rates on those, they were around 1.827, it double what they paid in may. zero coupon bonds being issued by italy. we'll keep our eyes on that. gilt yields higher, 1.7% yesterday. we're looking ahead to the latest br owing statistics, cash requirements as well. currency markets, the euro has been pressured down. we are back over 125. dollar/yen we pulled back from 80.63. aussie slightly stronger against the u.s. dollar. sterling is also up against the u.s. dollar at the moment. that's where we stand. kelly, back to you. >>> ross, thanks. the latest on what's happening across asia. tracey chang joins us for more. >>> markets are mostly down as investors stay cautious ahead of the eu summit. mainland china had five straight losses. recovered from earlier lows to finish do