this is quite simple and i will start with you, admiral stavridis and go down the line.ell me your three national security priorities for the next ministration. >> i will start with one that may or may not surprise you. i think cyber is extremely important and the reason i put it at the top of my list is because i think in cyber we have the greatest mismatch between the level of threat, which is quite high and our level of preparation, which is quite low. in other words, we worry about north korea, but we are kind of prepared. we worry about russia, we are kind of prepared to in cyber we are really not there, so cyber. number two, broadly would be the return of grade power politics and this is often categorized as russia and china, but i would add to it this is a bully makes that time will include the return to the world stage of germany and japan, which i think will be fascinating and above all in this century the rise of india, how we move those pieces around. i think that will be challenging. this gets into south china sea and crimea and everything else we face. secon

mark mabry, vice president of thing -- i wanted to ask a question of admiral stavridis. you raised the issue of cyber. also the other panelists. we have a lot of initiatives in the government and private sector to enhance cyber resilience. we have a few international activities focused on improving, if you will, relations, expectations, norms of behavior. given the audience and the focus i'd be interested in what the next administration needs to do to raise the game in this important mission area. >> thanks. i'll give you four or five things. it's a list of 20. i strongly support dividing the national security agency from u.s. cyber command. so you have two senior individuals who can focus on two very different missions, very big span of control. i think that's happening. i hope the new administration follows through on that. secondly, we need more international cooperation and work on this. we're quite good. many of our allies are very good. within the bounds of propriety and confidentiality we need to think of how we can learn more from, for example, the israelis, from

i want to bring you in on this also, admiral stavridis. then we will open it up for questions. >> it's not the '60s anymore in part because large nuclear arsenals are no longer restricted to the united states and the soviet union, russia w now. one issue i had is it treated the united states as if russia was our only strategic competitor in the nuclear domain as opposed to china being a rising competitor and having the advantage of being free of all constraints. that's something that we have to account for, that china continues to expand its nuclear arsenal and russia's modernizing it and changing its doctrine and rhetoric around the nuclear doctrine as well as countries like north korea and india and pakistan and one day i hope not iran. domestically in terms of our nuclear capabilities, what that means is reinvestment in all legs of the triad. we need to develop a new missile system, ground-based strategic deterrent. we need to have a higher class replacement submarine and the new b-21 bomber. congress is committed to this. this is part

we will talk to admiral stavridis about general mattis.: live pictures of westminster. you can see big ben there on the left. as parliamentay is set to debate the bill that will trigger a article 50. on a little bit of news households and spending. british households are still spending, the pound following casting a little bit of doubt on the outlook for spending. we would get back to that in just a minute. first, let's get straight to the "bloomberg business flash." warren buffett loaded up on stock after the u.s. presidential election. he said berkshire hathaway is about -- has about 12 been --lars of stocks since the has about $12 billion in stocks since the trump election. nintendo posted third-quarter earnings that beat estimates. profit was boosted by strong sales of the new pokemon game. plus the weaker yen increased overseas sales. nintendo is preparing to roll in the new gaming console march. for the second day in a row, deutsche bank has agreed to settle claims that it helped wealthy russians launder money. to britishay money reg

secretary, you mentie menti the time of our choosing -- >> i want to bring back in admiral stavridis. will the punishment outweigh the benefits to russia? we have already seen a number of people have to leave the country, we know there's been more sanctions. is that going to hurt russia more than i hate to say it the success they've already had here? >> not what is being publicly addressed. so, stephanie, i think what we've seen is, i hope, kind of the tip of a larger iceberg. and underneath the surface of the water one would hope that the administration is using cyber effectively to go after deeper and more sensitive parts of the russian infrastructure. an example would be going after the financial holdings of senior russian officials, potentially including vladimir putin outside the country. we could also use cyber to go after russian attacks against their own people, illustrating those. there are many clandestine things you would hope are going on. i would hope that president-elect trump would get the briefing, see the depth of the attack and decide he, too, along with president ob

whether it is admiral james stavridis, whether it is joseph nye. for us the nato you after we saw the president-elect saying nato is a thing of the past. pres. poroshenko: i am absolutely confident the world needs nato. because after russia violated and annexed crimea, making aggression in the east of my country, russia completely destroyed postwar global security system based on the security council of the united nations. effectiveeft the only security mechanism in the world. that is why this is not only very important for the member states, but this is very important for the global security. you do use it -- do perceive it as a new isolationism? do you hearken back to the 1930's when you have the rhetoric from the president-elect? pres. poroshenko: i hate the idea of -- i am confident that movingure for a country on international trade -- this is the policy of my country. is why i was elected. i signed a comprehensive free-trade agreement with the european union. and now in 2.5 years, we have increased our turnout, 31% to 45%. we just weeks ago s