on the newshour tonight, armed with an i.m.f. report issued today, christine lagarde warns that u.s. policy-makers must be careful not to overdo debt reduction. >> to bring the debt under control, action needs to be taken over a period of time. that is not just next year. that is going to extend for the next ten years. it needs to be gradual, not so contractionary that the economy folds. >> woodruff: we have an update on efforts across the country to recover from wildfires, extreme heat, and power outages. >> brown: susan dentzer of the journal "health affairs" answers questions many of you are asking about how health care reform will work, now that the supreme court has weighed in. >> for somebody who is running a small business, what does this new health care plan... how does that impact future busess owners? >> brown: margaret warner interviews mexico's new president-elect, enrique peÑa nieto, about drug war violence and relations with the u.s. >> brown: pakistan reopened an important supply route for u.s. forces into afghanist

and still ahead a record high yield on spanish bonds the i.m.f. may be wanting to dump the euro following a ban on short selling in spain and italy and those are just the headlines you've probably seen widely reported coming out of europe coming up after the break mike shut lot will tell us the alarming new if you haven't heard the first your closing market numbers. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything you thought you knew you don't know what i'm charging welcome to the big picture. is leading you to. meet. the mission of free accreditation free in-store charges free arrangement free. free. to tide free. downloads free blogs just wanted videos for your media projects a free medio dog r.t. dot com. thanks. all right where do i begin with europe today there are just there's been an onslaught of headlines all bad pretty much that i've seen coming out of europe indicating that the. solution or at least the pretendin

and still ahead record high yield on spanish bonds the i.m.f. may be wanting to dump the euro falling a ban on short selling in spain and italy and those are just the headlines you've probably seen widely reported coming out of europe coming up after the break mike said lawful tell us the alarming news you haven't heard but first your closing market numbers. is the shoot something inappropriate for the public they can easily be. as she's a war ok. i wish she would have never happened but it has. you know for a t.v. camera becomes unnecessary with just their own safety all for national. including journalists and inspectors should leave. and the spear companies with such witnesses got a lot more like. one. person . on our team. with. more and more mouths to feed but where will the food come from can science provide the answers if you drew under the microscope. the future covered. all right where do i begin with europe today there are just there's been an onslaught of headlines all bad pretty much that i've seen coming out of europe indicating that

and still ahead a record high yield on spanish bonds the i.m.f. may be wanting to dump the euro falling a ban on short selling in spain and italy and those are just the headlines you've probably seen widely reported coming out of europe coming up after the break mike shut lawful tell us the alarming news you haven't heard the first your closing market numbers. what drives the world the fear mongering used by politicians who makes decisions to break through that sort of to be made who can you trust no one who is you who view you with a global missionary see where we had a state controlled capitalism is called sasha's when nobody dares to ask we do our tea question more. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else and you sure see some other. and realized everything you. don't. care what you. look in the alona so you'll get a real headline with none of them are the problem with the mainstream media today is that they're completely disconnected from the viewers and are what actuall

for defense and non-defense spending and twelve billion in cuts to medicare that we've heard from the i.m.f. we've heard from the cvo but of all of these factors combined come january the u.s. could enter a second recession but as usual it's also a lot of politics involved so how do we really think this thing's going to turn out well here to discuss it with me is dean baker co-director of the center for economic and policy research and author of the end of loser liberalism making markets progressive. back on the show tonight. ok let's start with bernanke he before we get into what's really going on with congress but so here is once again gloomy outlook on the economy sucks we know and when but about it and suffering from it but then he gives this very certain warning to congress about the fiscal cliff and do you think that he actually is getting. political i mean like he's claiming that he's not really getting involved that's kind of a policy decision that you know what i think the guy is totally political i don't mean this and i mean the feds always political you can't help but to be and i

contracted a lot in double digit kind of stuff and at that point in time the i.m.f. and world bank were criticize a large for imposing austerity and other sort of conditions on those economies in return for bailouts and in return for the loans so they really went through a very hard where the entire banking systems all you know were wiped out had to devalue their currency is by a huge amount and they lost a lot of their income in that in that period but that really set the stage for a very strong ten to fifteen years that korea and indonesia which were two of the biggest sufferers of the east asian financial crisis in very strong after that crisis because they got it out structural reforms but this is a thing about countries that they only carry out reforms when they have their back to the wall when you know when this sort of thing they can get away with it they can get bailouts they can easily sort of get some sort of concessional aid i think that's when they don't carry out meaningful reforms and that the pain tends to be amortized over time so this really is coming

brazil was the world's largest debtor and ten years later they were making loans to the i.m.f. they where a big creditor and exactly this that interview's that don't you think it's very chic weird out there we're not lending to the i met and how do they do that any turn it around and use this big development bank to basically recycle and best your money i mean it's private money it buys the binds but you're buying your banks and the various. if it's a government by you have all this investor money sitting on the sidelines where people are afraid to invest it's too risky but if you're right government bonds it's a. development bank development bank then lets the money to you. need money to you and that stimulates the economy i think it's a very good idea for us alan brown thanks so much for being on the kaiser report thanks max all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert our thank my guests ellen brown author of web of debt if you want to say i mean email please do so at kaiser report r t t v are you until next time m

from a global financial storm brings up today which you know that's fraught with us according to the i.m.f. the international monetary fund now they're saying the they've cut their global growth outlook for the rest of the world is looking rather dismal at the moment but for russia they've kept on change that is encouraging now they believe that russia will grow four percent this year fifty basis points more than the rest of the world the fund has warned that the european recession and the u.s. slowdown are looming i have the global economy the effects may become visible for russia next year as the i.m.f. says the expansion may slow down you know all rosy in the herd but it's not looking bad as of the places i think that is the conclusion i'm going to make that now russian billionaire as the one of the anglo russian team k v p r ready to sell their stake to their partner be paid now they want cash and they want ten percent of b.p. stock in return i mean that could potentially put an end to the basic conflicts that we cover a lot of business artane other shareholders relations between b.p.

the country struggles with a double dip recession with record high unemployment and warnings from the i.m.f. that madrid needs even more cuts. philippic games may have got off to an explosive start but a stockpile of organizers floor without restrictions making many londoners miss out on the sporting extravaganza. with the stories that made headlines this week you're watching the weekly on our t.v. with me rule reduced to shy in syria the unfolding battle for the commercial capital aleppo was turned into the focal point of sixteen months of conflict government forces are pushing to reclaim the country's largest city from. the rebels who now control nearly half of its neighborhoods three million people live in aleppo now many are fleeing all amid international fears of a looming massacre russia's accused foreign powers are fueling the bloodshed by urging the rebels to fight on against. the political leaders of the insurgency are calling for intervention and shipments of heavy weapons from abroad and revelations in the media this week claim that's already happening a secret base in turkey ana

spain struggles with a double dip recession with record high unemployment figures on pledges from the i.m.f. that madrid needs even more reform despite previous cuts to the public sector. to an explosive start in the british capital. restrictions making it many londoners miss out on the sporting history sponsors cashing in on the. money making machine. but with protest movements in the u.s. ground the gap between the. growing wider we talked to bill and his take on how to achieve change. party's in chicago sitting down with radical activist author and former professor thank you so much for joining us today pleasure to be with you as a look at started to protest really in the united states we've seen the arab spring we've seen the uprisings in europe we've seen occupy wall street in the united states what do you think is really the face of the modern protester in the u.s. today well i mean i think occupy is unpredictable but wonderful development and it comes directly out of the arab spring i mean it the idea that people could actually make a difference is is infectious and so occupy came ou

and spain struggles with a double dip recession with record high unemployment and pledges from the i.m.f. that madrid needs even more reform despite previous hard cutting heads this comes as athens which is also also financially crippled has reportedly agreed on most of the cuts demanded from creditors in order to receive it's back to. the olympic games may have got off to an explosive start. of organizers floors under strict instructions of making many londoners missing out on the sporting extravaganza as scores of empty seats in the arenas are also sparking anger over failings in the way tickets were handed out. well with protest movements in the us also gaining ground the gap between the haves and the have nots is growing wider we speak to antiwar activist bill ayers for on his take for how to achieve change. party's in chicago sitting down with radical activist author and former professor thank you so much for joining us today pleasure to be with you it's a look at started with protests really in the united states we've seen the arab spring we've seen the uprisings in europe we've se

middleton entrepreneurial investor and author of the boom bust blog in just a minute also still ahead the i.m.f. is warning the u.s. could be pushed off that fiscal cliff and one city is trying to avoid a fiscal cliff of its own by paying your student loans to move there we'll tell you all about it in loose change but first your closing market numbers. wealthy british style. time that's right for. the. market why not. find out what's really happening to the global economy with much stronger or no holds barred look at the global financial headlines tune into cars a report on our. down the official t. up location to go on so i pod touch from the top story. on the go. video on demand. will become. an r.s.s. feed. now in the palm of your. question. the admission of free credit patient free loans for charges free arrangements free risk free stereotype free. the old free blog clothing video for your media projects and free media dot com. glenn. glenn. glenn. glenn. the a. book. welcome back we're talking about the nuclear winter and real assets that we may be facing ahead once that can kick in down t

middleton entrepreneurial investor and author of the boom bust blog in just a minute also still ahead the i.m.f. is warning the u.s. could be pushed off that fiscal cliff and one city is trying to avoid a fiscal cliff of its own by paying your student loans to move there we'll tell you all about it in loose change but first your closing market numbers. what drives the world the fear mongering used by politicians who makes decisions to break through that sort of people have made who can you trust no one who is you who with the global machinery see where are we heading state controlled capitalism is called sessions when nobody dares to ask we do our t.v. question more. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else and you sure see some other part of it and realize that everything you. don't i'm sorry is a big issue. here . but in the alone the show will get the real headlines with none of them are the problem with the mainstream media today is that they're completely disconnected from the viewers and for what actually matters to

middleton entrepreneurial investor and author of the boom bust blog in just a minute also still ahead the i.m.f. is warning the u.s. could be pushed off that fiscal cliff and a one city is trying to avoid a fiscal cliff of its own by paying your student loans to move there we'll tell you all about it in loose change but first your closing market numbers. the issues that so much know there's a huge music issue on the market the arab spring only coming to sudan as the protest movement grows the regime of al bashir appears to have limited options which we can chew. welcome back we're talking about the nuclear winter and real assets that we may be facing ahead once that can kick in down the road of policymakers they want to get that can any further and we start actually seeing insolvencies reggie middleton as you were talking to entrepreneur investor and author of boom bust blog and read you before the break we were talking about central banks i do want to touch on them for one more minute before i get to well i guess central banks are still involved in life or but before we get to that the danish

with the high unemployment figures from the i.m.f. the madrid needs even more reform despite previous cuts in the public sector a very hard this. is also financially crippled because reportedly agreed on most of the cuts to monitor credits in order to secure the bail. to an explosive start in the british capital. making many londoners miss out on the. schools of empty seats in the arena. of a failings in the way tickets were dished out. to the fastening world of innovation technology. hello and welcome to technology update i'd like to open this program with a toast to the seven billionth person that into the world just a few weeks ago however as the population continues to grow global food resources are being put under increasing pressure. that's because in the coming decades our numbers are set to rise by another thirty percent at the same time more and more people will leave rural areas for cities reducing the available farm workforce according to the u.n. to feed the globe swelling ranks food production will have to double by two th

country bailout to keep investors really jittery greece has also been on the spot like the troika of the i.m.f. the e.c.b. of the european commission had just gone there and really there wasn't much of a surprise of what they had found out i think investors are already expecting to hear that greece is still off the track and it still needs a further death restructuring here in order to get its finances in order so therefore we're not seeing good news any good science at all from the euro zone nations. ok for now if we look at the european markets will be able to see some gains in the us off to recent comments in the last hour or so the european central bank president mario draghi said that policymakers will do what it takes. and as you can see some optimism at the moment so i really have some faith in the drug. tests i mentioned the economy. turned posting its second quarter profits ponging ninety three percent of us really spooked the markets today was worse than most were expressing let's have a look at the euro now see how it's responding to those e.c.b. present comments one twenty two sixt

record high unemployment and warnings from the i.m.f. the madrid. making many. of the stories that made headlines this week you're watching the weekly with me rule. in syria the unfolding battle for the commercial capital aleppo has now turned into the focal point of the sixteen month long conflict government forces are pushing to reclaim the country's largest city from the rebels who control nearly half of its neighborhoods three million people live in aleppo many are now fleeing all amid international fears of a massacre by russians accused of fueling the bloodshed in the rebels to fight. the political leaders of the insurgency are calling for intervention and shipments of heavy weapons from abroad and revelations in the media this week. a secret base in turkey and the head of the syrian media one of them certainly. the country is reaching the crux of the regional power struggle. the u.s. seems to have finally understood that it will not have a clean clean clear success in syria and if it decides to intervene it will ruin the whole country on the way and that'

country bailout to keep investors really jittery greece has also been on the spot like the troika of the i.m.f. the e.c.b. of the european commission had just gone there and really there wasn't much of a surprise of what they had found out i think investors are already expecting to hear that greece is still off the track and it still needs a further death restructuring here in order to get its finances in order so therefore we're not seeing good news any good science at all from the euro zone nations. all right then we've got a bit of all to ms i'm at the moment and that's because the european central bank president mario draghi said that policymakers will do whatever it takes to preserve the gains on this great mentioned spain just another thing i want to mention is about the banking giant is the second quarter profit plunging ninety three percent that was to the horror of investors and needless to say despite all the terrible going on in the country equal. to the year right now while i mention it and just see what the situation is it is chu also reacting to the news from the e.c.b. president

country bailout to keep investors really jittery greece has also been on the spotlight the troika of the i.m.f. the e.c.v. of the european commission had just gone there and really there wasn't much of a surprise in what they had found out i think investors are already expecting to hear that greece is still off the track and it still needs a further death restructuring here in order to get its finances in order so therefore we're not seeing good news any good science at all from the euro zone nations. oh i was going to say the stores are doing right now and they are days still climbing as a plethora of data coming out today those are all the polls do we have jobless claims for willing to pull goods orders climbing and also the european central bank president pledged to defend. those downgrades that is going on to the european market as we can see they managed to get a list of doggies says the policymakers would do anything to preserve the euro also citigroup had a bit of a down day so they announced that they see a ninety percent chance that greece will leave the euro zone in the next twelve t

be allowed to keep investors really jittery greece has also been on the spot like the troika of the i.m.f. the e.c.v. of the european commission had just gone there and really there wasn't much of a surprise of what they had found out i think investors are already expecting to hear that greece is still off the track and it still needs a further death restructuring here in order to get its finances in order so therefore we're not seeing good news any good science at all from the euro zone nations all european commission for us in the house and i know but also is heading to athens to assess the situation that's of course us concerns mounds of greece will miss its that production the target and as you can see the markets are reacting to all of that with a loss as the footsie moves in the quarter of a percent almost of one percent in the red there. and also in all that spanish banking giant suntan that if and when that's not something that is has posted its second quarter profit and now it plunged ninety three percent needless to say it missed analyst expectations let's move on to currencies

bailout to keep investors really jittery now greece has also been on the spot like the troika of the i.m.f. the e.c.v. of the european commission had just gone there and really there wasn't much of a surprise of what they had found out i think investors are already expecting to hear that greece is still off the track and it still needs a further death restructuring in order to get its finances in order so therefore we're not seeing good news any good size at all from the euro zone nations and it's just it's not it's not just from the euro area the u.k. which is part of the european union outside the euro area had just seen a shocking this is what we call a shock. drop of zero point seven percent and very g.d.p. this is a big drop compared to what barry can expect it which is just as zero point two percent. very bad there data coming from there so i'm afraid marina i don't have much good news for you coming from this part of the world aside from the fact that most of europe as i've already gone on holiday but on the economic front it's still very very bleak that's right so i suppose once th

country bailout to keep investors really jittery greece has also been on the spot like the troika of the i.m.f. the e.c.v. of the european commission had just gone there and really there wasn't much of a surprise in what they had found out i think investors are already expecting to hear that greece is still off the track and it still needs a further death restructuring here in order to get its finances in order so therefore we're not seeing good news any good size at all from the euro zone nations ok then let's talk about wall street them because stocks on now and they are climbing. goods orders cohen and the european central bank president he pledged to defend the year also as a tough race because it's coming out with death of ports that is a public company. that's going to happen later on in the afternoon u.s. time. de beers we know just give us the european markets and see how his comments all affecting investor sentiment they are indeed still get even got the footsie out one point four percent on the edging towards two percent now so speaking of the euro we'll see how the common currency o

the i.m.f. issued its annual report on the u.s. economy today, and offered this advice-- focus on boosting growth now and cutting deficits later. lagarde also said she is most concerned about the so-called "fiscal cliff" facing the u.s. next year, as several tax cuts expire. she says that threatens to reduce the u.s. economy's growth to just 1%. >> too strong a contraction of the u.s. economy as a result of, say, the realization of the fiscal cliff would have significant spillover effects outside the united states. so not only the fiscal cliff realization would contract the u.s. economy and reduce it to marginally positive, if at all, it would also have effects outside the united states. >> susie: our guest tonight says one word describes stock market performance for the rest of this year: "volatile." he's stephen wood, chief market strategist at russell investments. >> hi, steven. why the call for volatility? >> i think there's a lot -- i agree they're very consistent in the forecast on the u.s. economy, but there's a lot of polit

to the government's program of spending cuts and he's extending it took twenty twenty what's more the i.m.f. believes the u.k. economy will post nor point two percent growth this year which is lower than last year as you can see on the screen there the national government started a forty percent back in two thousand and eight and it's increasingly got many brits wondering if the coalition is capable of dealing with it some have already expressed concern that these will certain measures will not work but wind up paying even more in tax to counterbalance enormous government debt now microsoft says its brand new operating system windows eight will be released on the twenty sixth of october the software giant says the update is the most important redesign in more than a decade the news could add a positive touch to the fourth quarter earnings report microsoft is publishing on thursday our list say it may post losses for the first time ever after a troubled takeover of an online company a quantum leap and there is a new twist in the fierce battle between apple and some search a u.k. judge has or

end in sight for the government's program spending cuts extending it to twenty twenty what's more the i.m.f. believes the u.k. economy will post a not point two percent growth this year which is lower than last year as you can see there on the screen on the national government started at forty percent back in two thousand and eight and it's increasingly got many brits wondering if the coalition is capable of dealing with it some of already expressed concern that these austerity measures will not work but it will end up paying even more in tax to counterbalance a government my parents when that one is going to the currencies and a see how the year is before my hour with that one twenty six you know it's just thoughts a little bit of traction there as to the ruble though it's managing to gain. car is up against us on the street with a russian x. is the now so managing to get a we have in two thousand come from asia investors are digesting fresh inflation statistics prices are. low and have added four point two percent from the start of the years of optimism. as there are some stocks them a go

country bailout to keep investors really jittery greece has also been on the spotlight the troika of the i.m.f. the e.c.v. of the european commission had just gone there and really there wasn't much of a surprise in what they had found out i think investors are already expecting to hear that greece is still off the track and it still needs a further death restructuring in order to get its finances in order so therefore we're not seeing good news any good science at all from the euro zone nations. ok moving on then we'll see some of this kind of confusing information the moment as we still got the u.s. dollars they are still combing the dow jones that one and a half percent up in positive territory and that's because there's been a plethora of news coming out today we had job was kinds for laying durable goods orders climbing and recently the european central bank president he pledged to defend the euro at any cost so we'll have a look at the european markets they're actually closed now but this is how they finished the day they managed to get in that was after. they said that polish the makers

country bailout to keep investors really jittery greece has also been on the spot like the troika of the i.m.f. the e.c.v. of the european commission have just gone there and really there wasn't much of a surprise of what they had found out i think investors are already expecting to hear that greece is still off the track and it still needs a further death restructuring here in order to get its finances in order so therefore we're not seeing good news any good science at all from the euro zone nations. ok what about wall street them we'll have a look at some i already know i mean they're actually experiencing a bit of a rally in the session a lot of that is because. good orders by the european central bank president pledged to defend the euro right so let's see how the european markets reacted to those comments as we can see finished up the trading session up with dareus if you look at the dax that is actually in frankfurt germany edging towards the way it has sent now it's all because of these comments that came out from mario draghi the e.c.b. president and he said enough. that policymakers

its responsibility is a medical crisis the next we will show you how a big role how big of a role the i.m.f. plays in the global economy and compare the institution structural adjustments with the european austerity measures plus get ready for a boycott a number of organizations are planning a major boycott of all high at hotels this in an effort to bring awareness to the fact that high it is the worst employer in the hotel industry will tell you about the inhumane conditions they housekeepers and other hotel workers are victims when they work for the hotel chain and nearly four years after changes to the freedom of information act first went to a into effect it's finally happening the f.b.i. now willing to abide by a little known provision in the law that requires all government agencies to provide records of investigations to anyone who requests the documents so what took so long for this to happen next week will question more well those are just a few of the stories we have in store for you next week along with more news and in-depth interviews so keep it tuned in right here to our team

allowed to keep the confessors really jittery greece has also been on the spotlight the troika of the i.m.f. e.c.v. of the european commission have just gone there and really there wasn't much of a surprise of what they had found out i think investors are already expecting to hear that greece is still off the track and it still needs to further death restructuring in order to get its finances in order so therefore we're not seeing good news any good size at all from the euro zone nations. we are seeing good news right now is the european markets where as i said there's been a huge all involves the territory see the foot sea and the dikes adding over a half a percent right now does this news that in spain the banking giant there which is sun found that reported its second quarter profit and the plunge ninety three percent also we know that european commission prize than the whole sum i know but also it's heading for athens to assess the situation there because of course we have made mrs reduction targets that's the concerns of what investors are feeling right now let's move on and take a loo

country bailout to keep investors really jittery greece has also been on the spot like the troika of the i.m.f. the e.c.v. of the european commission had just gone there and really there wasn't much of a surprise of what they had found out i think investors are already expecting to hear that greece is still off the track and it still needs a further death restructuring here in order to get its finances in order so therefore we're not seeing good news any good size at all from the euro zone nations ok as promised let's get to some new numbers now we'll have a look at. they are still climbing as you can see we've kind schooling good old is no mines the european central bank president to defend the euro or that is helping. check out the european to mock his now they are indeed still managing to get in i believe yeah and that is all to mr jarvis that the policy makers would do anything to preserve the year right now there was also some other news i heard just now since you have announced that they now see a ninety percent jobs that greece will leave the euro zone in the next twelve to eighteen mon

cameron admitting there is no end in sight extending spending cuts reach twenty twenty what's more the i.m.f. but is the u.k. economy will post a zero point two growth this year which is lower than last year as you can see that the national governments that started at forty percent back in two thousand and eight recently got money for its wondering if the coalition is capable of dealing with it some have already expressed concern that these measures will not work but it will end up paying even more in tax to counterbalance enormous government all right this shake up a compromise you see how the exchange rate looking a right now we can see that it's still in managing to lose out to the dollar like that one twenty two forty five while the ruble is looking to set. against us the euro we've already got about twenty minutes to save up to trade him all sky high brings all the eggs to market so a lot of thing at stake as you can see the most few minutes or so will go to two thousand from asia as well helping to boost the days ahead of us is also just saying fresh inflation has its prices in box up

and france and we have confirmed the strategic nature of our dialogue and russia's contribution to the i.m.f. which we know is also helping see those economies that have been hit hard at the same time the level of cooperation with the e.u. is not does not match the economic and political potential. as i said more than once we could have sat ambitious goals with europe far more ambitious than what we. it could be a single markets worth of trillions of viewer from that lancet to the pacific and of course due to the turbulence. of this only it's clear that we need to solve these tasks there are far more down to earth problem and we need to ease the visa regime and in the future of course we would like to see no visas for russian citizens. in russia is prepared for that and when we meet our counterparts from representatives of businesses into spain jura people that we do see that the european partners are seeking the same things that a lot of there would be video and in los cabos in the g. twenty we had a constructive meeting with. the u.s. presidents. have been very positive progress. and we ag

equities sharply down let's actually see the numbers there on sunday the german press reported that the i.m.f. may halt pain and sue greece as the austerity program is proving ineffective and that the moment the footsie is losing more than one it house percents now into the equity markets negative sentiment as an effect of the european currency it's shedding against the dollar the russian ruble is losing to both the euro and the dollar and that's all we have time for in this edition of business will be back with an update in about fifteen minutes see about that andy's touches thank you very much indeed for that update we'll see you later and i'll be back with a recount for our headlines in just a couple of minutes. wealthy british style. tight right. markets why not canada. find out what's really happening to the global economy with mike's cars.

the board there and mainly on bad news about to europe on sunday the german press reported that the i.m.f. may hold payments to greece as its austerity program is proving ineffective to use nikky. closed almost two percent down and banks are really pushing their hand saying down more than three percent speaking of banks j.p. morgan c.e.o. jamie diamond has bought the bank's stock worth about seventeen million dollars he hopes this will convince investors that the world crisis is coming to an end j.p. morgan has lost around seven billion dollars last year but managed to push the five billion dollars profit in the second quarter and now moving on to the currency market at the moment of course all the bad news is bringing the euro down and it's losing value against the u.s. dollar the russian ruble is also shedding too that currency basket to both the euro and the dollar and moving out onto. by the way it's speaking of the currencies the important thing to mention is that the euro is actually trading at eleven year low. against the japanese yen and that's following spain valencia region aski