tom: very good, virginie maisonneuve with us on france.morrow with a wonderful set of guests. we are thrilled to bring you a set of mayors as they will be meeting to discuss local efficiencies, including the mayor of rio de janeiro, scared -- scheduled also, jeffrey sachs. we're thrilled he will talk to us about the economics, the cost and benefit analysis of trying to get to less global warning. we will be in paris tomorrow. right now from london, this is "bloomberg surveillance." ♪ caroline: welcome back, this is "bloomberg surveillance." u.s.,reaking across coming off of yesterday's selloff. getting over what janet yellen said toward rate hikes for the future. first, let's get on to our bloomberg business flash. >> an hour from now, the european central bank is scheduled to announce his decision on interest rates. surely afterward, mario draghi is expected to unveil more steps to boost the economy. investors think they will cut by 10 basis points. deutsche bank is among the leading skeptics about the pound sterling. protecting it will f

for more, let's bring back in our guest host, it is risen a mess enough -- it is a virginie maisonneuveyour take. that teacher into the scale of your estimates? virginie: i think we need to spend more than that. theres say that is investments we need. all of the adjustments that need to happen in energy efficiency and making a way to combine to make a more balanced world in terms of emissions and absorption. it is going to be much more. it is good be a long-term period. the one thing that i think is good about the deal is we are bringing in countries that in the past have not been willing to help contribute. we had business involved. we had transparency goals of measurements and monitoring. medical if you don't make your numbers in five years time. -- manus: if you don't make your numbers in five years time. have this thing that concerns me with political change as we go back to this mismatch between political cycles and this very long-term issue that we have with time a change. we need much more. investment is one side of thing. the other thing i think it is interesting is we are seein