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tv   Business - News  Deutsche Welle  May 10, 2022 12:15pm-12:30pm CEST

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ah, but the protest does show no sign of quitting. ah, oh my bet set you up today. tell us more world news at the top of the hour of next year on d. w. i business update with christoph cobalt, looking at germany, struggles to replace russian fossil fuels with people in trucks injured when trying to flee the city center more and more refugees are being turned away. families please, on the reason for these correct only is with people seeing extreme dreams. rough getting 200 people in around the world. more than 300000000 people are seeking refuge. yes.
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why? because no one should have to flee. make up your own mind. d. w, made for mines ah, ah, terms and conditions applied to germany once more liquefied natural gas, but talks with the world's biggest l and g. producer cut are have it a roadblock at the same time saying farewell to russian oil has many people in germany. we're also in the show, greece repays outstanding debt stemming from the financial crisis ahead of time. but what are rising prices doing to a population that has gone through years of muster?
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i'm chris global. welcome to program. as germany tries to rid itself. busy of russian gas the countries negotiations with cut our have the head difficulties as to the 2 sides cannot seem to be able to agree on conditions for a contract. according to the news agency, reuters cut our once to sign a supply deal over at least 20 years. now germany is reluctant cute. to commit to that. also cut our insists on a destination clause that would prevent berlin from rerouting the gas to other areas in europe. a condition which the european union opposes the banning russian oil will hit the german economy hard according to business lobby robes, at least. but the government has admitted that there could be shortages of fuel, for example, primarily in the east of the country. 9 out of 10 cars in and around berlin run on fuel produced at the p. c. k refinery in the north east of the country. it is old
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by russia's rosin aft and its employees wanted to stay working at the refinery in shreds. $1200.00 employees are worried about their jobs. so many attended this weeks work us meeting that it had to be held outside. among the guests, germany's minister for economic affairs, he had to com. everyone's nerves, russian guess once flowing through the jewish by pipeline would be replaced by deliveries, push it to be refined in schmidt. i'm with him, he's gender or for it would be possible to route ships through the keel canal to the port of rostock and we'll stop. we could do that temporarily, but long enough young to cause organ. the minister promises financial help from the government because switching away from pipeline oil won't come cheap. still, it's unclear if all jobs can be saved. many in shove, it are worried as the refinery is one of the largest employers in the region
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concert. no, it's about the whole city of infrastructure. i'm afraid it might collapse as on the cultural center, the restaurants are in the business community to feel available. she's very hard for many of us. yeah. all the terrible sheets and it's refinery. there's a lot of history here. once a small town and east germany, surely it quickly grew once p c k arrived. the acronym stands for petrochemical combination built in the late 19 fifties. it russian oil from siberia. today the refineries majority owned by russian oil giant rosin, yet who won't be interested in switching from russian oil to other sources. the government knows that incense it would be willing to look into converting it to public use, to situate and secure germany's energy supplies. and that has all of the other
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business stories making headlines around the world. tesla has hauled it production at its shanghai plant due to supply chain issues. the car maker says it's struggling to source parts for its electric vehicles. after a 6 week coven 19 locked on, has disrupted industrial operations in the area. microsoft says it will cover travel expenses for u. s. employees who need to leave their state to get an abortion. amazon, yelp, and see group have set up similar policies after a growing number of states have introduced abortion bands. with likely backing from the countries supreme court. bitcoin has slumped below $30000.00 for the 1st time since jail july last year. but current value has more than half from a recent record, high of $69000.00 as from to currencies tracked sinking markets with investors spooked by aggressive years monitor terry tightening and searching inflation.
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greece has paid back it's debt to the international monetary fund 2 years ahead of schedule, making the last payment on a loan given 10 years ago when the country was on the verge of bankruptcy. back then, the country's government debt crisis shocked europe and created an unprecedented financial chain reaction between 20102018 greece received financial aid totaling 278000000000 euros. the majority of this aid came from the euro zone, with the international monetary fund, contributing 32000000000 as you can see there, that's the amount now paid back. despite all grease still has the highest government debt in the euro's own, last year it was almost twice as high as it's gross domestic product. and according to government predictions, the number will only drop slightly this year. now lots of like living in the
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country that was forced to an act, austerity measures and whose finances are still being monitored by european agencies. have a look. there are many people that haven't good job and the economy is going down actually. so i'm been and being just really, i believe is going to go up in the summer right now. economy. this is will share prices may be high, but every day life looks different. people have lost a lot of their income. our purchasing power is diminishing and everything's getting more expensive due to the energy crisis with the c panel. so security vs in the year. everything is getting more expensive from food to fuel even varies. the price of a ticket has gone up by 30 percent in just a month. greeks fear that european tourists will stay away. we bet them via them much more of on the european money. why?
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because the utopians hobble so, problems with energy and the high course them, but those were vision in the off peak season. many greeks took short breaks 2 islands near by, such as angena prices. there are still manageable, fried zucchini or cheese balls. are culinary classics here. but sunflower oil has left from $8.00 to $31.00 euros per liter, putting the to furnace under pressure. many are considering dropping fried foods from the menu altogether. we didn't put our prices a bit up, but we cannot imagine having a restaurant, an old, a restaurant without, without french fries ference's or anything fried. so we didn't know what we're going to do. hotels also fear they can no longer avoid price rises. guests want cool rooms, cranking up the air conditioning, pushing up the cost of electricity for hoteliers. this family run hotel wants to raise prices. they've already spent a lot on energy saving air conditioner,
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so we are investing in new technology. we need to change. i've already done the newer conditions, new lessons inventor technology to have a better result. it's good for atlanta to green energy, the number one topic and grease. one of the largest photovoltaic plants has just gone online. it generates electricity for about $75000.00 households. german company, uvie built the solar park it so that that is the start of the billing that they zation in that area. but still, there is a long way to go. we need more and more in europe in order to be able to drop the the average electricity price. although many know that prices will keep rising, most are trying to take things in their stride. after all, he can on the crises, are all too familiar in greece. before the show, i spoke to alexander critical of the german institute for economic research. and i
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wanted to know from him how much of a problem these rising prices are for a population that had to endure tough austerity measures in the past years. these are the very strong problems. i would even call them tremendous problems because the energy prices are also increasing. grease one should know that in greece, there's a strong dependence on, on electricity. and the electricity price has been wrong, very much to the extent that the greek government has decided now to aim for very strong reduced abuse to measures the em to supports particular families with smaller incomes. by texting the profits, energy companies are currently gaining out of the strong price increases and giving this money back to sub say,
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the families that say low income. so it has hit the country very strongly. i want to take a look back here at what degrees has gone through in the last couple of years, particularly the people in greece now that the country has paid its way out of the debt is owed to the i m f. for example. do you think these harsh austerity measures were the right way in trying to handle the crisis in greece? i don't think that this was the right way, having to measure us introduced as a stand alone measure. this would have been a company a long time ago. this investment measures as well and with more cooperative measures to to reform the country to deregulate the country, very completely overregulated and to think jointly with the greek government. how
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to him growth, red tape, reduce red tape and improve the brooklyn. so there was a very, a focus on one measure, and i think this was too strongly focused on and losing. so to say side of the other important parts of such a transition process. greece was among the countries that triggered the european debt crisis. could it's still do something like that because it still has the highest debt to g d p ratio of all 19 members of the earth. mm hm. yes, that is true, but still we see that the, the, the current public step is not seen anymore. it's such a threat as in the previous years, it's has graded better on the last years. it's close to investment, right. when we see how it jumps from, from 3rd party,
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alexander critical of the german institute, they can our research speaking there. and finally, one of andy walls iconic maryland monro portraits has become the most expensive 20th century artwork ever to go under the hammer in an auction that lasted no more than 4 minutes. a 40 square inch suit screen was sold for a $195000000.00. turn on a bit of the work had been sold by swiss foundation that says it will use the proceeds to funding health and education programs for children around the world. and he has reminder of our top story for you at this hour. germany is working hard on energy independence from russia. negotiating with cut are the world's largest producer of liquefied natural gas. if you're just wise, with those talks have had a roadblock just as belinda is also trying to save a refinery at the baltic shore. that's
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our show for now. for more checkout website at d, w dot com slash business. and of course, you can also watch the w news. you tube channel. i'm chris kolber and belinda, thanks for watching herself. a successful with and trains of the future will fly carbon to achieve new hughes of the recess. synthetic fuels into green hydrogen all to replace the climate caleb care with. will the dream of environmentally friendly fly to come through tomorrow. today connect on d. w. what secrets lie behind these walls?
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discover new adventures in 360 degrees. and explore fascinating world heritage sites with d w. world heritage is 360. get the app now. flying high on hydrogen will alternative feels replacing kerosene make a growth basis for the environment. could mas fitted with intelligent technology help, whereas to breathe more easily? what's the best way to stay balance? last and move coming up on the d. w signs program.


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