he and some colleagues turned to the eu's anti-fraud office to protest the waste of eu subsidies. akos hadhazy: because the train departs near orban's house and goes more or less nowhere. and they lied on the application for eu support. they claimed two to three thousand people would use it daily. but in reality, there are very few passengers, as you can see for yourself. reporter: but those passengers see nothing wrong with how the railway was funded. imre orosz: the fact is, we needed the money from the e.u. but i don't know exactly how much. reporter: the european union provided two million euros. but the nostalgic train has not brought the regional tourism boom that the application for support promised. this is not the only case before the eu fraud investigators. in the last four years alone, at least 24 cases have become known in which eu monies were dubiously requested and often simply disappeared. for example here in northern hungary, where many unemployed roma live. in the cold season, maria petrovics and her family have to skimp on food, or they won't have enough money to

until it leaves the eu? would be surprising if this relationship did not produce a trade arrangement. that would make brexit a more difficult situation for continental europe. >> the member countries have delegated to the eu. tore is no possibility negotiate a trade deal. of course, you cannot say anything about discussions going on but formal negotiation cannot happen. that would be against the eu relations. -- eu regulations. caroline: thank you very much indeed for your time. coming up on the show, donald trump's wall street policies -- is it the end of dodd-frank? we will discuss his pledge to dismantle the reform. we will be talking trade again. welill ttic be put at risk? program, shopping frenzy gets underway as china enters an able market. stay with us. plenty more to come. this is bloomberg. ♪ guy: -- caroline: welcome back to the european open. let us get you up-to-date with the bloomberg business flash. here is juliette saly. juliet: a lance has said third-quarter profit rose i more than one third

the eu is making noises along that line. n, it is about what you've established now and the reforms such as basel four that are still to be negotiated. europe wants to call a truce on capital requirements, but i don't think it wants to tear up the whole financial rulebook. that is the question on donald trump. francine: thank you so much. we will get back to adam marshall in just a couple seconds. we will talk to him a little more about the parallels between brexit and the donald trump presidency. what does trump mean for brexit? we will be talking currencies. we will also be talking security. there has been a line of thought that says because donald trump is in charge of the white house or soon will be, theresa may has an advantage when negotiating with the eu. i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business.

what does the eu deal involved? e march, the country has been taking back migrants and securing the borders. europe has accepted migrants from turkey and provided ankara with additional funding, as part of the deal. it was also to include these of free travel for turkish people visiting the eu, but it never materialized. the deal marks a turning point in the refugee crisis that brought over 100 million people into europe in 2015. since it was signed, they have seen a decrease in migrants arriving. this is not the first time the turkish president has threatened to disrupt the deal. the german government is trying to diffuse the situation. >> if one looks at the facts, we can say both sides are keeping to the agreement and we hope it will continue in the future, because it is in our mutual interest. in december, eu leaders will have a summit where the relations with turkey are already at the top of the agenda. host: let's bring in our chief correspondent on this. melinda, would it be right to say the german government

tusk, the eu cannot continue like this. if we look at the list of topics on the table, sanctions blocked, the ukraine agreement jeopardized. satyr blocked. decision on article 50, the eu has been kept dangling nine months. now they are threatening to veto budget. we cannot continue like this. the eu is like a three engine plane with one engine broken down. it's still flying as the other two engines are working. it cannot stay on course until the council engine is fixed. mr. tusk, please ensure that the european union will not undergo the same fate as poland in the 18th century as they were completely paralyzed by the veto. allowing every nobleman to block a decision and as a result, parliament did not become greater, it became irreally vanlt. the council has to take responsibility for the european union as a whole and it has to do so soon. because not only will our own citizens tire of the inability of the eu to respond to the challenges of today, but europe is rapidly making itself relevant as a global actor. that has an im

and the eu? ow seems we move from the back of the queue to the front of the queue with regards to a trade deal with the united states. how does this change the whole relationship between us and the e.u. when it comes to negotiating trade when article 50 is triggered? nejra: you know, that's a really interesting question, mark. it's a question that i post both to the german trade representative and also to who you just heard from there. the answer from both of them was this does not actually really change anything because they are two separate things and we can work on them simultaneously. that was a pretty civil answer i got. got when weswer i go back to the eu and the u.s., does it matter? it does. i am surprised to learn that the eu and the u.s. are the biggest trading partners in terms of total trade. almost $700 billion in total to a good trade last year. this really is a big deal for both sides. mark: thanks for joining us. nejra cehic in brussels today. julie: three employees for major banks

that's obviously an opportunity for the eu as well. you mentioned london for major source of russian investment. >> you make the u.s. case but much of the case is about europe. i'm just wondering, do we see a potential there of splits between how the europeans are approaching the issues, whether enforcing their own laws or whether we are and is that potential that the ultimate effectiveness of the sanctions regime dissipated because of our own internal differences? >> it's already an issue. the fact that another distinction between the u.s. and the eu sanctions that in the united states sanctions are created in a central manner, by our federal government and they are similarly enforced and monitored essentially. however, in the eu policy is created but takes place at the membership level which means that it is dependent on the the political will and the capacity of the member state to carry it forward once it's in practice and it should be no surprise that the debate about whether or not sanctions are a good idea or ruled over is an exc

speaker, my constituency gets 25% of its research funding from the eu. and it benefits us to bring some of the finest researchers here. what guarantees can she give for research funding and improving academics? p.m. may: we have already given guarantees in relation to the research funding that is available from the eu, and those contracts will be signed. and he will know that we are able, already, within the immigration rules we have, ensuring the best and brightest will come to the eu. -- will come to the united kingdom. it was not that long ago that he was campaigning to come out of the european union. [uproar] >> johnny mercer. >> in committee yesterday, the historical allegations team has actually placed veterans under surveillance in this country. i learned this. despite everything we have said, we have paid lawyers to go out and collect evidence. i know that the prime minister's commitments to this agenda, she would agree with you to work harder to close the gap between what we say and how it actually feels for our servicemen and women. p.m. may: my

the eu needs turkey despite the bad blood. markets have become a bargaining chip, and nervous europe waits to see if turkey 's strongman leader will unleash his fury. mark lowen, bbc news, istanbul. kasia: we have lots to come on tonight's program, including how scientists hope this machine will tackle the debris orbiting earth threatening future space missions. korea, police blocked roads to stop angry farmers from joining the protest against the country's president. thousands are expected in seoul on saturday to call on park guen -hye over a corruption scandal, where she is accused of being an accomplice in pressuring companies to hand over millions of dollars. reporter: these farmers are going up to the big demonstration on saturday. they have been stopped by the police, and there are incidents. they have been told you cannot proceed with banners on your vehicles. there is clearly a lot of anger here. if you look around, the police are blocking the roads. some of the farmers have put the the sacks andd put the grain on the

to leave the eu. they never naturalized, can the prime minister assure me she will never instruct me to take away the rights of millions of eu citizens? >> i recognize the personal passion with which my honorable friend raises this issue. i intend and expect to guarantee the rights of those living in the united kingdom but i also want to see the rights of uk citizens living in the european union being guaranteed. as i said previously i hope this is an issue on which we can come to a position we can discuss with my european colleagues at an early stage. >> mister speaker, the health crisis by the oms to deal with the leading cause of death, far more from referrals, diagnosis, will the prime minister pledge to bring about currency, and to introduce, with that. come in the honorable issue, it is a personal concern for her. it affects people across constituencies across the house. we set an ambitious target by 2020. and invested in the development of research institute. and that is why we created national

it has ramifications for the rest of us in the eu. because it profoundly affects the future development of the european union. but it has affects for the united states, both geopolitical and geo strategic as peter was saying but economic and commercial, massive u.s. investment in europe and massive u.s. investment in the uk. what are those investments now worth? how are they going to be managed going forward? the japanese, of course, have come forward with an elaborate paper setting out their concerns, because they are a major investor. i think peter mentioned the ongoing trade agreements. we have 53 trade agreements with nearly all the major economies of the world. we're just about hopefully to conclude a very important deal now with canada. and we have them with south korea. we're negotiating with japan. we're upgrading our deal with mexico, chile. all these agreements. again, the stakes are high as to how do we deal with a uk which is no longer a party potentially to those agreements? so the global stakes of this are also very high.

but also for the eu as well. so i would have thought that might be a higher impact than what we would say is so far the ftse has been relatively good performer, partly just because of the koucurrency effects. so you have 5% of your effects from overseas due to boosted earnings. but the u.k. looks more expensive than other european markets now. and we think the growth we have had so far post the vote will probably slow next year. as the consumer is hit with the higher costs coming along the chain. so we have a preference over europe over the u.k. in that environment in 2017. >> is it too early to take profits on the run that the ftse has had? >> i think that we're starting to get to a situation where sterling, because of the speed in the falling sterling, is slightly problematic as a whole. so i would argue, actually, if you want to rotate, i'll be rotating now into europe and the u.k. >> what if we see the high-court ruling being confirmed by the supreme court and actually the parliament does get to vote. and by t

eu trade agenda just as we have done in supporting the very welcome recent eu/canada deal. second, as we leave the european union, we will also use the strength and size of our economy to lead the way in getting out into the world and doing new business with old allies and new partners alike. we will use the freedoms that come from negotiate with partners directly to be flexible, to set our own rules and forge new and dynamic trading agreements that work for the whole uk. that is also why in our negotiations on leaving the european union, we're not trying to replicate the deal that any other country has with the eu. and we're not going for an off-the-shelf solution. all of us here tonight know that there's not some choice between hard brexit and soft brexit. it's about how business and government works together to get the best deal, the right deal for britain and the right deal for businesses working across the continent. but third, to be the true global champion of free trade in this new modern world, we also need to do something to help those families and communities who c

either italy or france leaving the eu would be the end of the eu. >> pretty dire.hink citigroup has a forecast of euro/dollar going below parity by next year, is that right? >> well, i think there's certainly a possibility. remember, exchange rates is like predicting your cat's behavior. it's almost point. but, yes, there's no doubt that significant weakening of the euro in the face of this massive political uncertainty, athletics in italy, france, germany -- >> we have to jump in there. thank you so much for joining us. willem buiter from citi. thank you for joining us. "squawk box" is next. >> good morning. the rally cats are ready but do these cats say make america great. dow, nasdaq, russell 2000 and s&p 400 mid cap hitting all time highs. energized market oil prices jumping ahead of a key opec meeting later this month. trump transition. the president-elect promises to withdraw from a 12 nation trade deal. you know it as tpp on his first day in office. it's tuesday, november 22, 2016 and "squawk box" begins right now. ♪ . >> announcer: live from new york where

further away from the eu. how do you feel? >> at any type of great change, there is fear. there is no doubt that something profound has happened in our politics, just as is happening in european politics. the center is being hollowed out, and the roots of rage are expressing themselves in ways that no one expected. we can condemn some of the ways that the language has been used on the campaign trail, but what is very important is that together, on both sides of the atlantic, the business and political elites analyze t the roots of the rage and frustration, and also arrive to the coconclusion as to what to . clearly many people feel that our current system, business and political systems, are biased and the system is rigged and they are not benefiting from it. that is something that we need to address. >> how interested do you think donald trump is interested in the e.u.? he seems more interested in having close relationships with russia. >> i simply do not know. i'm glad the e.u. has sent an imitation -- an invitation for the summit, and that is important. when you look at

i will not say that this somehow means the brexit is over and carry on with membership in the eu. but what this does do, hugely important for the government and a massive setback for theresa may, is judges saying parliament gets a say. why does that matter? it might take some time for parliament -- to have a say. parliaments don't do things quickly. before we approve this process, leaving the european union, we would like to know what you have in mind, because one thing that is been very striking to everybody here in the u.k., of course, people watching anxiously beyond us, what exactly is the government's vision for what britain looks like outside the eu? we haven't had much of that. ros: they don't want to give it away because they're going into negotiations. rob: critics would say that they government doesn't have much of a plan. why this is awkward is it is difficult to see parliament giving its approval until they see a bit more of a plan. ros: but the thing is, even those mp's, and lots of them oppose brexit, are not about to stop this process and they cannot be seen to be op

the argument is that the eu breaking apart at this point is still very low. they are concerned that some of the risk wasn't being correctly priced in. selloff that we saw in the presidential elections in the u.s.. particular, things held by asian investors. when you look at the netherlands and belgium, they haven't been affected as much. it has been france more impacted. you can see, with the italian market, they are pricing and more concerns about a referendum there. -- france has just come onto the radar in the last two weeks or so. argue something about the link between economic stress and populism. about past, you can talk how, when it came to electoral outcomes, "it' the economy, stupids," that phrase seems to ring loud. now, we see a rise in populism. i have this map here, just zooming in on europe. we have seen political tensions increase. we also seen them with the brexit vote. in hungary, a fairly populist leader. there is not this link anymore? europe, the> in largest economy that really likes globalization is the u.k. inthe u.k., we have had june, b

leaves the eu. confirmed it will build two new models at the land in sunderland.eparately nissan said on monday is third-quarter profits dropped 18% because of the strong yen. tesla has announced plans to charge customers for use of its fast charging network. the customers who buy cars beginning next year will have 1000 miles for free charging. tesla offered its customers free charging for life in an effort to make their product more competitive. and the french oil giant has signed a $6 billion deal with iran. most international sanctions were lifted earlier this year. women across france walked out of their offices at 4:30 p.m. this afternoon. protesting the gender pay gap, about 15% here in france, which activists say from now until the end of the year, women are effectively working for free compared to their male counterparts. brown -- pondent luke >> that is when the organizers ,ay they should stop working women are paid 15% or less than their male colleagues. is a situation of discrimination that the organizers say has to end. >> until 1945 it was called wome

side as well, as well as the eu trade commissioner. he said in an interview was that it is totally impossible to say what donald trump's victory means. it was not high up on the election agenda. they want to know what these negotiations and if they will continue. they have their 15th round of negotiations in early october and this is very much up in the air. the eu says it is still keen to come to a free trade agreement with the u.s., one that is balanced and comprehensive an ambitious. the big question mark is over trump. all that sounds conciliatory. how important is the u.s.-eu trade relationship? >> it is conciliatory from the eu side. euterms of trade between the and u.s., it is very important. u.s.ent report said the alone accounted for 40% of the growth in eurozone exports last year. they are each other's biggest trading partners in terms of total trade, $700 billion in total two-way goods trade last year. if you look at where the u.s. imports come from, the second-biggest source is the eu as a whole. a lot of people see that ger

this should be the eu's priority. they expressed frustration of his own hotly criticized frustration. he reiterated that he stood with ankara. brent: let's pull in our correspondent. good evening to you dorian. we understand that the foreign has now met with turkey's president. what did the two men talk about? >> it was a meeting behind closed doors and there has not been any official statement. judging by the faces after the meeting it was not an easy one. he is been facing a barrage of criticism and much of it directly aimed at germany. you had to mention it early in the month. i think that message is expected to be repeated and turkey feels that germany is not doing enough to crack down. they're saying they should crackdown more on that and also they have been accusing them of harboring people from the coup attempt. there is this growing anger. brent: he also met members of turkey's opposition. it would normally be something out of the normal but was that something to provoke turkish authorities? >> he was in a ver

donald trump questioning nato and britain planning to leave the eu. foreign ministers are discussing their own plans for security. and gazing skyward to see the biggest, brightest moon in nearly 70 years. it is called a super moon and a site like this won't come around for another 18 years. ♪ first up, some clues as to what a donald trump presidency might look like. the u.s. president elect named the top two members of his team. prebus will be his chief of staff -- it has turned into a battle at the white house between the populace outsiders that got trump elected versus the washington party establishment. reporter: team trump is taking shape as two key positions are filled. priebus has been named chief of staff was steve bannon has been named chief counselor. >> now i will have them both with me in the white house as we work to make america great again. reporter: the seemingly contradictory report -- contradictory appointments are vintage trump. a washington insider to serve in the influential white house chief of staff position, trump is signaling a

will leave the eu, and we do not know yet, which models the u.k. will follow for that exit. >> what sort of measures are you watching out for in his speech? >> we have been given a lot of health, personal releases from the government over the past few days. they told us there is going to be just over one billion pounds for infrastructure spending, on roads, that there will be 2 billion pounds a year by 2020 on improving the you k's broadband and also some -- improving the u.k.'s broadband. -- having voted for brexit and the government wants to give them some assistance, or to make sure they stay on board for the next few years. those the kinds of measures we are expecting. i am interested to see what happened to this growth forecast and what happened to the fiscal forecast and how much worse it is likely to be compared to where we were in march with the previous chancellor was sitting at his plan. >> the previous chancellor had a plan to cut the u.k. deficit, and that has been said to be abandoned. is that something we should be worried about. i th

outside the eu are incredibly bright. e risks of staying in our incredibly serious. >> we have had four budgets the last year and everyone of them the forecast have been wrong. why on earth would there be a recession? francine: investors pull out money. this is what the government -- i'm not making this up. this is what the government has to do. this is what mark carney is pointing to. >> a nice impartial man. francine: do you think david cameron regrets calling referendum? him think some close to regret it could i think he thinks it is something at the deal with and i have some sympathy with that. >> they are set to leave the eu following a vote on the membership june 23 next week. which number shouldn't we believe and which numbers shouldn't we? >> it seems pretty clear the numbers have made toward leaving . we are now looking in the internet polls around 48.5 to remain and 51.5 for leave. sonata large movement but clearly there. francine: the u.k. still digesting the news of the labor mp joel cox. both sides of the brex

head of the liberals say he's extremely concerned and that it would be the eu's stake ifty would be att turned a blind eye to erdogan taking his country done a very authoritarian route. the turkish president says this has absolutely no value whatsoever. but he's also very frustrated with the way he feels his country has been treated by the european union. these talks have been very slow over the last decade. there has been very little progress. that is led by china and russia. genie: what impact might this resolution have on resolutions between the eu and turkey, which are already at a low point? >> they will continue to be flawed. those negotiation talks will continue. what was reflected today in the european parliament does not necessarily reflect what's represented of the other eu institutions feel about turkey. she was speaking in the parliament in stroudsburg earlier on tuesday and she said she did not think it was a good idea to freeze talks. that those talks were a good way to have leverage with turkey. thatu and turkey signed controversial deal back in march about the migration

formally begins divorce proceedings from the eu. >> to the u.s. now, and the trump effect is hampering business on the avenue in new york. since the election, trump tower has become a fortress, protected by concrete barriers and military style police forces, not that inviting. >> police with automatic rifles, security barriers, and crowds of shoppers. this is the new view outside trump tower in new york as u.s. president-elect donald trump -- the homes of presidents have always been protected, but never before did the commander-in-chief reside smack in the middle of the american -- the busiest american metropolis. >> the problem is that it is severely restricted. we are talking about the loss of tens of millions of dollars just for the christmas season. >> after christmas, things will not go back to normal, either. president-elect trump has said that his life and their 10-year-old son will not be moving to washington any time soon. new york mayor bill de blasio and about socialist sees problems, to -- new york mayor bill de blasio, and about socia

that all parts our economy are able to seize the opportunities that present themselves as we leave the eu hon. friend is absolutely right about the importance of small and medium-sized businesses, particularly in the technology industry. that is why i am pleased that i will take leading small and medium-sized businesses from the life sciences and technology sectors with me on my forthcoming trip to india. it is important to enable them to forge trading links with india, and i assure my hon. friend that, as we look at the arrangements for leaving the european union, we will take the interests of all sectors into account. >> tata speciality is a big employer in my constituency and its workforce are worried by the long period of uncertainty enacted by tata steel. will the prime minister use her trade visit to india to secure from the company the future of steel production in britain, and to convey the importance of tata acting as a responsible owner and, in the case of tata speciality, seller of its uk steel assets? >> i can assure the hon. lady that we recognise both the importance of steel

brexit.a cooperative the eu and u.k. british governments camp. it is important for us to know what strategy the government lands to have. we did not ask for the brexit. we will wait, we will negotiate defending our own interest. we can say notably that the full credence of the internal market are indivisible, but we will try to find pragmatic solutions and the best outcomes possible. resultis clear the depends on the spirit of the negotiations. it will be a spirit not to punish, but a very collaborative one. commissioner, the rhetoric from europe gives the commissioc from europe gives the impression that the u.k. government is clueless. what are you hearing when you speak to the u.k. government, does the government have a plan, does it appear to be clueless when it comes to its planned for brexit? >> again, we are not having talks before the negotiation opens. the negotiations will not open before the notification of article 50. we have talksi will be meeting with phil hammond, a partner whom i respect a lot, a very cool

what president elect trump said on the campaign trail, there is nothing for eu leaders to go by because he hasn't held any political office. they are more alarmed than the media is making them out to be? >>'s first appointments demonstrate that as a campaigner he will be equal to his performances as a president. conservativeeme, and initiating very harsh political feedback. one democratic congressman said about jeff sessions, who is most high-profile appointment as attorney general, if you have nostalgia for the days when blacks kept quiet and gays were in the closet and the woman stayed in the kitchen, then sessions is your man. immigration in europe already a hot political issue. >> his support for brexit puts him at odds with the eu leaders. >> is vocal support for the environment puts them at odds. he is appointed as the head of the transition for the environmental protection agency. somebody who is a notorious climate than higher, and believes there is no problem with the climate environment. both members of the eu and otherwise. >> the one that makes the most difference to foreign

those who voted to stay or leave the eu. there was a general feeling, even though the constituencies to stay in the eu would feel that they have to respect it. francine: and this is the first step. a significant step that there could be an appeal. i believe there could be two appeals. the pound isll, surging. surging on the news that the government has lost the lawsuit over article 50. however my chart -- i am looking at the ftse. has beenok at that, it a racing some of the gains that we saw today. so it is and it was always going to play out more on the pound. but it is interesting that markets are not taking this adds significant change at the moment. stephanie: the markets have been going up on the basis assuming that we would leave because of the currency effect and every thing else. so if we see the equity market moves in oxygen election's will continue to see that. francine: we often need to find an expert view. we knew the judge profiles and we knew that by and large they were against brexit, which is why they said it

is likely to leave the eu customs union post brexit, yes or no? ght honorable gentleman does not seem to understand the custom union is not a binary division. let's set that to one side. let's look at what we need to do which is to get the best possible deal for access within the european market. the right honorable gentleman stands up time and again in says to me that he wants access to the single market. i might remind him it was only a couple of years ago that he --ts sex scotland out. wants scotland out. speaker: order! order! order! very emotional condition. i normally regard you as a cerebral denizen of the house. try to recover your composure man. as burglary and vehicle theft are down but nice crime is on the increase particularly by drug dealers and users. can this be a priority for her majesty's government? inthing my friends can to dealing with this very big challenge. theresa may: i think my horrible front for raising an issue that is very important for everybody. certainly the government will do all it can. seen overall nice crime figu

another distinction between the u.s. and eusanctions is that in the united states, sanctions are created in a simple manner, by our federal government and their similarly enforced and monitored centrally. however, in the eu policy is created centrally, but monitoring and enforcement takes place at the member state level which means that it is dependent on the political will and capacity of a member state to carry it forward once it's in practice. it should be to no surprise that the debate about whether or not sanctions are a good idea or should be rolled over is an excellent proxy for what is allowed or people, officials they look away from within their own jurisdiction. so there's an opportunity that some people may call for regular arbitrage if you will. there are companies interested in circumventing russian sanctions. so as to avoid detection or scrutiny. >> were going to turn to question and answers. going to come to you in the second. one last lightning round. put you on the spot the first 100 days of a new administratio

it's on constitutional reform, not on the membership of the eu. zi sparks it and an election, he's got a lot of problems. all three of the next biggest parties in italy after renzi's incumbent party highlights the issue of why they don't want to face the election. >> so many changes could be happening in the world and europe specifically, it's pretty incredible. >> december 4th is the next event risk. >>> so my must-read piece is in "the new york times" entitled, "donald trump and the bieber doctrin doctrine," as in justin bieber. he talks about how the region may no longer be a top concern for u.s., when it comes to security, at least. he writes, go and love yourself, it's a bieber song, of course. and it's mr. trump's message to his european allies. the message of the european allies is no longer the objective of american foreign policy. there you go. my story ties into yours a bit, saying europe, that's your problem. we have our own thing to work on, but really the eurozone is a big question now. >> a big question, and the fact that the next u.s

the crisis years well, doing economically a great deal better than any much every other member of the euappeal toof this angela merkel for leadership a result of their economic prowess? >> you have to be fair and give credit for changing the social system in a way that he lost his job. he was kicked out of the chancellery. it is merit, she continued policies, but on the other hand, there is an old age pension fund , they are not very hopeful. it is a combination. on the one hand, her personality. she does not dominate others, at least not visibly. tries to bring people into contact in conversation. with turkey, she continues to hold up the conversation as well as with putin. that is a reputation. and a country's well-being and her position there adds up to her international reputation. you said in your opening statement that germany's historic role as the country that perpetrated the holocaust it from being a leader in terms of western values. but couldn't you make like the opposite argument that it is precisely because of germany's confrontation with that history that it has developed a

in a generation.it centers on whether the prime minister can start negotiating britain's exit from the eu without a vote in the house of commons. at the core of the matter is the balance of power between parliament and the government. british prime minister theresa may says she will invoke article 50 of the eu treaty -- triggering two years of official exit talks -- by march 31. murder trial of a former police officer in south carolina begins today.michael slager is charged with fatally shotting an unarmed black man after a traffic stop last year. the shooting of 50-year old walter scott was captured by a police dashcam and on cell phone video.slager's attorneys have argued that there is more to the incident than what is shown in the video... and have filed a motion to ask the judge to block the video from being introduced as evidence. a legal development is expected today regarding the francisco.millennium tower was supposed to be the pinnacle of luxury... a high-rise with condos selling for millions of dollars.but some residents are now suing because the building is sinking in the middl

this is what the eu's economy could be seenaid on a two-day visit to greece. austerity was no longer the way forward. >> our mission was always favored. we know we cannot count on austerity. we need to be serious. being serious is one thing. austerity is another thing. >> and france's conservative party has chosen its candidate for the 2017 presidential race. fillon is often compared to margaret thatcher. he promises to overhaul the french economy. allison sargent takes a look at key reforms. >> he is an old face in french politics. he is promising a radical makeover for the french economy. nearly one third on social services. welfare spending that will see a dramatic drop in 2017 if he takes the country. he plans to slash public spending for over five years. >> revitalizing growth, restoring public accounts to avoid bankruptcy and yesterday of the state. -- the authority of the state. the private sector could work up to 48 hours per week, the maximum under european law. the workweek is in the only item he has on the chopping block. he plans to get rid of 500,0

stage of negotiations, two years of investigations, we want to give reassurance to those living in the eu, in the uk. i think the reaction we have seen shows it was right not to do what the labour party wants us to do, simply to give away the rights of eu citizenship in the uk because that would leave uk high and dry. >> i know the prime minister -- wrong on the national health service for weeks now. she would see patients warring, demoralized. when will she get a grip to the bean counters committing criminal damage to the people's cherished service. >> 430 more doctors, 950 nurses in the nhs trust foundation compared to 2010, this year, the clinical commissioning group getting an increase funding, health funding, the right honorable gentlemen's area is this year's 2.7 billion pounds, increasing by 2020, 2021, into the national health service, the labour party, former shadow health secretary labour party who says more money to the nhs was irresponsible. >> contains many elements of successful industrial trafficking. skilled workforce, strong infrastructure, manufacturing surround by world

they voted to leave the eu back in june you'll recall. immigration was the man rain. >>> support for the fairfax county meals tax from an father whose 3-year-old son brought a loaded gun to school. >> and as we head into break a tweet from representative john lewis that's been shared thousands of times today. i've marched, protested, been beaten and arrested all for the right to vote. man: hey baby, how are you? woman: i have a surprise for you. man: you have a surprise for me? narrator: at dominion, 1 in 5 new hires is a veteran. and when they're away, they miss out on a lot. but they won't miss out on financial support. because we cover any difference between their military pay and their dominion salary, and continue benefits for them and their families. why do we do it? because our vets sacrifice enough. [ roars ] [ up tempo music ] dinner! may i be excused? get the new xfinity tv app and for the first time ever stream live tv, download your dvr shows anywhere. i'm hillary clinton and i approve this message. donald trump: i could stand

the single market. you have to accept you are giving money to an eu budget. there's not going to be a solution outside of that, not if you listen to the hard line taken by the likes of some, who may want to give an example so other countries don't go down the same line. >> again, we haven't even started the negotiations yet. the british government position is clear, the uk decided to take back control of its borders, its money and lawmaking. that is not something you negotiate with the 27 others, it's something you do. it's an assertion of your decision as a sovereign country. and there needs to be negotiations over the basis of each other's markets, we're talking about accept to each other's markets not staying in the european union as you just described. john, appreciate you being with us. nice to hear your views, views that not even thinks about. >> i don't know why they have to be so negative about it. john redwood from charles stanley. >>> coming up on the show, do we have a deal? we'll head out to the opec meeting in vienna and find out how close ministe

we will cross to brussels next for the latest on the eu defense investors meeting. rce one is approaching the greek capital. 8:30 a.m. u.k. time we will speak to the ceo of greenslade. pessimistic. bob dudley gives us his take on the opec deal and what is coming up as we head toward the end of november. this is bloomberg. ♪ matt: welcome back to the european open. i am in berlin alongside than in london. a quick check on the markets. gains across the board. there you see the stoxx 600 up about 0.4%. bigger gains in london. the ftse. --.dax up by deutsche bank is one contributor. it has risen for 5 -- for six solid sessions. in a row. of stocks stand out featuring what we were talking about earlier. stock is up 4%. the line looks pretty good. about to talk to the business of fiat. going on with the pickup trucks. it is down by 2.9%. some of the miners are running down a little bit. the miners softening up a bit. the miners have done well since the beginning of the year. just rolling over a little bit. what do you need to know this morning? sebastian: i want to take yo

and negotiations with the eu and thereafter. ay's cards right now. >> preparation is still going on. if we compare the potential brexit negotiations with other trade arrangements that have been made in very beneficial circumstances. for example, tpp. a countries agreed right at the start of what to do at the end of the negotiations, it still took six years and 30,000 people were involved. pages. it takes a long time. and the starting point of this situation is slightly more challenging. yousef: we have had a lot of movers and shakers on this set in the last few weeks. amsterdam, frankfurt. and others. and new york as well across the atlantic. what have you been hearing from respondents and what are the trends? we know that the financial institutions are hedging. they have taken a hit and the industry as a whole in terms of m&a and financial activity. new york is coming up extremely high in the rankings when we couldt what is and what the next financial center of the world be. and perhaps our most recent electoral results would su

government, and then propose it to the eu. that we are not going to -- especially the relation between the freedom of market and the freedom of -- has to remain at the core of each relation that europe has. mark: air france is taking steps to hold the side of its market share. the company will create a new unit to send off airlines from the persian gulf. air france said it will also simplify shorter flight operations. -- has joined other luxury goods makers in reporting the chinese market is improving. the french company points to improving sales in leather goods. sales in the asian specific reason -- ages pacific region -- asian pacific region grew 14%. is time for our bloomberg quick take what we provide context and background on issues of interest. almost a year of the federal reserve began pulling back on the greatest monetary policy stimulus in its history, question is when will it act again? the fed'sr 2015, committee voted in favor of what many called lift off, an increase in the interest rate targets the bank had publis

i think they are fine and the growth is still there. while many euiticians want to punish the u.k. for leaving, theresa may has found an ally in poland. we will hear from the country's president. this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn in new york. mark: and from london, i'm mark barton. prime minister theresa may gave a speech in london earlier where she set out terms of a grand bargain to pport british businesses. minister may: when the government delivers its statement on wednesday, he will lay out an agenda that is ambitious for business and ambitious for britain. he will commit to providing a strong and stable foundation for our economy, continuing the task of bringing the deficit down and getting our debt falling so we can live within our means once again. ourill build on the actions independent bank of england has taken to support our economy. is ouroining us now bloomberg brexit editor, simon kennedy. has the prime minister rebooted her relationship with his this is? simon: we had a bit of a skirmish at the st

security and defense for the eu are a priority. e.u. foreign ministers were meeting last night at informal dinner talks in brussels. here is more now from the e.u. policy chief. they for europeans strengthen their currency and operations regardless of changes in the administration in the united states. it is time we discuss these decisions. but again, this would have been true with any kind of administration, i believe. it could be. we will see what kind of determinations the next administration will take on defense, but it could be more relevant in the future. in any case, this is something it is in our interest to do. genie: let's bring in p of nsa. how worried are the foreign ministers, given that we now have a u.s. president-elect, donald trump? >> well, they are quite worried. they were first worried about the paris agreement. they know that if the u.s. are not on board this agreement, there is not much they will be able to do on their own. especially because the u.s. was the first to trigger the conditions for this agreement. so th