and in europe for men who thought the crisis are being replaced. a big question about whether ben bernanke at the end of january, 2014 will want or be reappointed for another term. what is your betting on that? >> it's quite unlikely if it's for another term. his friends say he's worn out. i think he's ready to read a book of his own. had to be an up market. look at a picture at an. but anyway, he's ready to step down. the president takes them to stay, who know so what happened. >> who do you think would be on the short list? >> finance it have to be considered front-runners, the vice chairman of the senate tremendously to, barack obama appointed one to the vice chairmanship. she clearly is a favorite you have to take very seriously. there is a mrs. farmer secretary treasury, a polarizing figure, so confirmation may be trickier. he wonder if this hardcharging study has come a how that would work in a consensus driven organization. a couple needs less obvious, roger ferguson under alan greenspan kept ties to the financial world, but it's a very cred

busy day for latina putin he also paid a visit to the netherlands russia's biggest trading partner in europe russian dutch trade reached almost eighty three billion dollars last year he also met with the dutch prime minister to talk about joint energy projects the result is gazprom signing an agreement to extend the nord stream gas pipeline to the country as artie's natalia novick of explains the two countries have a lot of common interest in the oil and gas sector. from nafta russia's natural gas exporters oil arm has signed an agreement with the world that shell is going to expand its partnership and shale oil developing in siberia and arctic offshore blogs it's a company separate because they work together on a number of projects including developing deposits of shale in the do was sign during president putin's visit to the now the law and it comes just a few weeks after shell had to delay its high profile exploration company e-mail us going arctic for another year due to a number of setbacks now russia has been trying to encourage international energy giants to come and help its exploits

the city is not dissimilar to the former coal mining areas of western europe. soccer is popular here. the stadium co-host of the european championships. but they do not just mine coal here. close by is one of the biggest salt mining areas of europe. salt has been mined here for 130 years. that has left an underground labyrinth 300 meters below the surface. it is a little spooky. what do you do with so much empty space? how about this? one of the deepest soccer fields in the world. but who plays here? a few hundred meters further on, we find the next surprise -- people live down here. and they are doing gymnastics. >> we blow ourselves up like a balloon. and we let the air out again. >> welcome to the sanatorium. courses of treatment for lung conditions last three weeks here. patients live and sleep under ground. they go to the surface twice a day to shower and for meals. most suffer from asthma. >> i was scared at first. i watch a lot of horror movies. if you have that stuff on your mind, it is pretty scary here. but i am used to it now. >> her grandmother says

we in europe have enough ourselves to explain why europe is as it is. and in doing this, we don't have time to provide the u.s. with any advice. the last question. >> translator: hello. with regard to tax havens and tax evasion, we've been able to read today that you, mr. schaeuble, have obviously -- >> right. okay. they're on the last question, talking about tax havens again. let's bring in mary jo over there in houston. mary, the first time they've had a formal press conference together, secretary lew saying, you know, they have an immense stake in a strong europe, banking union is key for ensuring long-term stability for the eurozone. i wonder how much frustration you think there is with the u.s. administration with the lack of sort of problem solving in europe and the lack of growth. >> well, i think that, you know, it's apples and pears. that the united states, of course, is a single economy with single -- more or less single macroeconomic policies. europe is a collection of different countries with different approaches and without the central powe

at the end of the day russia doesn't have all the problems that they do in europe i mean it doesn't have to this. has a consumer demand this so there are plenty of credit sectors very. serious a sentiment that we can go back to actually concentrating on at the same time we've actually kerman which is more committed to reform that has been you know any time in the last five years so those are all positives it's just a question of when they kick in and time should be soon if you like the prognosis in the big surprises you know all eyes will be will be in russia russia this year because over the working on the budget through and i hope to continue begin effect on this here because the main the main oversea earth comes from this year but longer term it's always a very right thing to do you know we we much appreciate it saying that really are the numbers for the look forward for for more reforms to get in the pension reforms will help a lot you know. and you can watch the full edition of on the money in about an hour and fifteen minutes right here on r.t.e. . flight coming up of the province

though europe is too would be a big. trading partner for usher in the incremental it also you saw dollar europe the heat from russian to it was all a huge sort of like. twenty to thirty or forty basis points from a real g.d.p. growth came from the small the only real in europe so what's important is the key prices for oil for energy and it's really driving for the by really you know the huge growth nobody expected huge growth in europe so if you see european central bank which mean more and more accommodating it would be seen other than other central banks that would obviously help especially that what we see now with the recession is in place inflation is used to so it's quite comfortable to try to make some more force on the on a. similar sort. in the big surprises you know all eyes will be will be in russia russia this year because all who are working on the budget through and i hope to continue begin effect on this year because the main the main also comes from this year but longer term it's always a very right thing

they did not like her approach on europe, moving, it seemed, britain away from europe. >> what was the reason for her stance? why was she against german reunification? >> her attitudes toward germany were very much rooted to her experience in growing up during the second world war. her hometown was bombed. she once told the former german president that her view of germany had not changed since 1940, as strange as that may sound. i think she was worried by the prospect of an overly mighty german economy under reunification. she worried that the new germany might outshine britain within europe, so her attitude to germany was sort of dominated by those concerns. >> you touched on these concerns a moment ago. thatcher was a great eurosceptic -- euroskeptic. that attitude still lives on. >> she did not see europe as a visionary idea that would take things forward. she worried that if britain. too involved in europe, that would undermine the so-called special relationship -- if britain got too involved in europe, that would undermine the so-called social relationship written had undertaken w

europe is not growing. there is no loan growth. there is sclerosis in the credit in europe. these are problems. jawbones and a rate cut may help the market. i'm not sure if it will help europe in terms of growth and expansion. >> europe has a loan growth of minus three. that's the annual loan growth, worst the last quarter than on an annual basis. >> for a guy who sounds constructive though you expect a summer pull-back, you are buying treasuries. >> yeah. >> why? what part of the curve? >> i'm buying far out the curve. i look at the market and our signals are telling us we have one more leg down. only one more. this is it. we're looking for the ten-year below 140. >> i think that will happen. i will stand tot with professor john taylor but with the regular john taylor. >> i was looking for 150. we have 1.27. you have -- it's crazy what's going on with the rates. hasn't europe essentially de facto tightened given what yap has done? how much better off are they? >> it's going to work for half an hour. may 2 won't do anything for them. they have terrible loan growth, ltro, mon

the eu says it believes hundreds of radical islamists from across europe are in syria right now, and they are worried that they could pose a serious threat to security here if they return. >> syria's civil war rages on for a third year, and a growing number of islamists from europe are joining the number of rebels fighting to topple the assad regime. german federal police say it is the same development they observed in the afghanistan war. >> we are not surprised we are seeing young germans in syria. also fighters from france and britain. we think there are some 40 to 60 fighters who come from europe. >> experts think the number of radicalized european fighters in syria may even run into the hundreds th are smuggled into the war zone by professional recruiters. islamists active in syria are financed by backers in countries including saudi arabia. >> they are not booking their tickets at travel agencies. that is clear. there are middlemen who are of arranging the strips. >> what alarms terrorism experts most are calls for the volunteers to return to their home countries including germ

equal in europe but that proved false relationship if you were to. normalize. international investors are coming back to that country. thanks i've stabilized quite a lot the only thing to add here is sure there's lots of information on this story in blogs and social networks what you want to find it in mainstream media why perhaps to avoid giving ideas to anyone else under pressure alarm bells rang at the white house is the pentagon warns north korea may have nuclear missiles meanwhile american war he leaned toward the korean peninsula president obama calling for an end to north korea's bellicose the day we hear about what's driving the standoff in a few minutes time. campaign and game venezuela chooses a new president chavez choice runs against a free market poster boy for possible venezuela choose after coming down taste death self-styled socialism or free market model venezuela votes fourteenth. he became a symbol of the nine hundred ninety s. he personified the russian mafia in the kremlin. he was a twentieth century arrest buton. in just a few years he ros

while the debt crisis in golf in europe may be starting to literally cost lives academics behi a major study say that as many as ten thousand people have committed suicide due to financial ruin dr david stockleigh of oxford university who's a researching the impact of a sterile economics on public health says politicians are risking more than they realise. what we've seen in studying recessions over the past century and the focus on the present crisis is that recessions hurts but when politicians respond with deep cuts so vital social supports they can turn those recessions legal in the worst case we've seen greeks after rate cut its malaria prevention budgets we saw the return of outbreaks of the country and kept under control for the past four decades the same hiv infection spiked by over two hundred percent at a time when the hiv budget was caught similarly we've seen across europe austerity produced series of epidemics from suicide to form on access to health care to tuberculosis south proves that you can get fever so far in europe's leaders have been and denial of the human costs

in europe by central bankers but the point is this gold is now being used as a defacto global gold standard right now gold as it were already back going to gold back standard the daily price based on paper manipulation that's not the big story the big story is that the central bankers now have to calculate every single day the price of gold into the figuration how to take over these countries and impose their imperial mandate and it's already back its beer well you're also learning a very valuable lesson as an investor because they're not interested in the dollar value of the yen value or the euro value of the gold what they want primarily is ounces they want to accumulate ounces and in the case of central banks tons whether that tons of cyprus gold is going to be transferred to frankfurt or new york tons of the accumulation is of many tons as possible from italy from portugal because what's going to happen is we have the end of one empire and the shifting of power elsewhere some say china but it's certainly shifting east and you want to have the most tonnes not the most euro's worth of gol

if you put it like that also unemployment as well as historical lows has something europe. at the moment double digits you look at spain you got twenty five percent going on so yeah bar having said there's lots of things going on here in this country that europe doesn't have to contend with have to outflow we just chatted about just now also infrastructure as well really needs working on roads ports in order to get it up to scratch for big sporting events that are around the corner of course we've got such as well on the way right thought so too with fifty billion dollars it doesn't come cheap you know really and with with infrastructure comes investments as well actually mr tickle for saying to me earlier today about it's all about infrastructure and he said that actually infrastructure in russia is the worst in all of the brics countries so he needs to really focus on that and he was saying all the other general problems as well that we hear a lot about the red tape the corruption making russia more of a nicer environment for foreign people to come and do business with ju

and europe. the question is how long that can persist and can it become more intense and given that our financial system is being driven by our pension system. >> we'll leave it there. thank you for your time this morning. chief market strategist there joining us out of boston. speaking of china, tale of doom and bloom for automakers in europe but that country is a different story. phil lebeau will join us to tell us more after the break. we'll leave you with pictures of the funeral of former u.k. prime minister margaret thatcher. that procession is now making its way down fleet street. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all

♪ >>> here is a quick look at markets across europe. spain up 1.2% almost, even though it just reported higher than expected deficit figures for 2012. italy doing quite well after napolitano as president has been re-elected reluctantly to aekd is term. on the agenda in the u.s., march existing home sales at 10:00 a.m. showing a small gain of about 1 is% expected to an annual rate of just over 5 million. later this week, we will get reports on new home sales, durable goods and first quarter gdp, as well. importantly this morning, we'll watch for caterpillar, halliburton, netflix and texas instruments after the bell. u.s. fourchs are pointed higher about 62 points at the open. similar gains on the nasdaq ask s&p. is this undoing some of the damage wrought last week? let's talk to michael gurka. we've seen stocks sell off. the beginning of a more prolonged period of softness, do you think? >> well, you know, we're still seeing a rather healthy stock market and for all the right reasons i believe earningswise we're going to continue to look

, there's more likely to be more issuance from northern europe than southern europe. germany was obviously a relatively strong market last year, as well. we've seen this morning the announcement that the rcl transaction, which while it is not taekly an ipo, it's a sizable re-ipo. i think that's the first of a few things to come. >> is this private equity driven or is that just one piece of the -- >> look, a lot of the deals in the first quarter were private equity driven. and i think, again, that's encouraging because there's been a difficult relationship if i might call it between private equity and institutional money managers. and the fact that these deals work and the fact that, you know, as you mentioned on average the transactions are right performing, the underlying market. >> relations are mending? >> i think what it does is it encourages people to go for the next deal. if they trade up, it's the opposite direction. >> we will have to leave it there. alistair warren, thank you so much for coming by. appreciate it. stephane, stay right there. we want to bring t

to fulfill the needs of the resurgent church, artists and architects all over europe flocked into rome. they came to design and ornament the churches that were built in the explosion of activity inspired by the counter reformation. the church reformers called for works of art and architecture that would bring people into the churches, inspire faith and religious commitment. an artistic revival resulted, and a new style. it was an exuberant style reflecting the optimism and assertiveness of the 17th-century church. this style is known as the baroque. the fresco on the ceiling above our heads was painted by pietro da cortona in the 1630s. it decorates the reception hall of barberini palace in rome, home of pope urban viii, a great patron of the arts. to the modern sensibility, molded by the notion that less is more, it may seem decorative and confusing. a careful look at this work, done at the height of the baroque period, reveals a well-thought-out design based on a written plan. when urban looked up at his ceiling, he saw the figure of divine providence stretch her arms to a chorus of

it was distributed throughout europe. most would have been consumed. but we are going to try to locate the rest. consumer groups long criticized the lack of adequate controls on meat. >> it is crucial the food sector is closely monitored. we want more controls and we want the results to be made public. >> the eu is set to awant to new legislation to ensure consumers know where meat and processed foods from come. >> fishermen often talk about the one that got away. >> they do indeed. but this time around the tables were turned. a lucky escape for a fisherman out in his canoe. >> take a look at this. he just caught a fish when a hungry shark tried to snatch it off the hook. the fisherman was shaken by the ordeal but made it safely back to shore and lives to fish another day. lucky guy. >> stay with us. we are going to a break. we will be back and look at venezuela. >> back in a minute. stay with us. >> thanks for staying with us. >> welcome back. the people of venezuela go to the polls in a presidential election to determine whether or not that country c

it's not like everything's easy for us we were called the sick man of europe ten years ago we had these hearts reforms we had a lot of difficulty you know we had our east west property bubble and we're getting over that but you know we've made the the discipline surest to crack down and and if you know that other countries are running into trouble as well they have to get built out and we expect the exact same thing to happen for them so you know if we're going to give some money then we expect there to be some some pain obviously some sacrifice ok so so so westerman e r germany is looking at the euro as a repeat of assimilating east germany into their economy and this point is not lost on everyone else in europe who believes that germany feels it's their duty now to assimilate the rest of europe and there's a lot of antagonism now like in germany you know get out of our face we don't want us simulating us into your economy and germany is saying well other that if you don't then we're going to turn off the spigots at the e.c.b. and they try to and you're going to die from fina terry sta

were talking about which is a europe based on cooperation a europe based on trade a europe based on nation state democracy i think that vision is one that can only grow in support as the years go by. as a reporter very shortly the tough economic times are hurting even the most vulnerable. yet i feel like i will be a laying on a gay teen and the blade back and i don't know how he's going to drop or not. so assassins of disabled in the u.k. could soon be forced to prove to the government they are disabled enough to get the money they need to know. the u.s. military is being forced to admit almost daily that the gun tunnel of a hunger strike is increasing in number but their fish will figure still lower than that claimed by lawyers who say the majority of the one hundred sixty six detainees have been starving themselves for nearly three months fishel figures rose exponentially have to print trying to break up the prisoners protest gets more official say ninety two detainees are now refusing all sued with seventeen being force fed and two in hospital there have been several recent suicide atte

the latest employment numbers are in for europe and they aren't incurring the twenty seven nation bloc is bleeding jobs with the rate up across most of the european union in march according to your a step for spain in greece are the worst affected both approaching one in three unemployed trailing them or other crisis hit european states especially in the south and east in total some twenty six million people of working age are unemployed youth joblessness is roughly double the overall rate for your. report so it takes more than just numbers to see the true extent of the damage. the unemployment rate in the years old has recently reached a record twelve percent of for those aged twenty five and below in countries like spain and greece that number is as high as more than fifty percent with very little signs of any economic improvement for those who are looking for a job that search is no longer just about trying to find work many are now trying to leave their home countries. like niccolo wriggles e a biology graduate from italy now working initial quality in brussels and the situation in

equal in europe but that was paul's relationship if you want to. normalize. international investors are coming back to that country. thanks i've stabilized quite a lot the only thing to add here is sure there's lots of information on this story in blogs and social networks but you won't find it in mainstream media why perhaps to avoid giving ideas to anyone else under pressure alarm bells ring at the white house says the pentagon the ones north korea may have nuclear missiles. is now facing a new kid to tokyo if it carries out its warning to intercept a potential north korean missile test when we come back we hear about what's driving the standoff. campaign and game venezuela chooses president chavez choice runs against a free market poster boy parts well that is where the choose after coming down days death self-styled socialism or free market model venezuela votes fourteenth. oh this land was torn apart by conflict oh oh it's changed oh yeah modern islamic nation was. kind of peaceful like the stone islam the first cause was secular the second. session. in

or western europe are broke. so they need to find a way to either rebuild aging infrastructure or in the u.s.'s case, define the development so we become energy independent and are self-sustaining and not depend on western africa or the middle east for supplies. >> what about the skeptics who say 2% from here on out is too good to be true? >> think of it, the u.s. has been in this declining production development since the mid '80s. we're now in an upward slope development. it looks like the chief of production goals from unconventional shell plays, i think the environment going forward has never looked brighter for u.s. infrastructure. >> i think et was yesterday someone said nat gas is the new safe haven, suddenly this is start to go look a little more price afforded. any view on that? >> i think that dmodty prices, a broader view, i think that peak energy, we believe in just the opposite at yorkville. we think energy prices will probably be the growth driver of the global economy. it has a lot of implications.

does need to kick start growth. >> if you take asia, the u.s., europe, europe is in a weaker spot. so one would expect the euro to be weaker than the others. that's not what we're seeing. we're seeing voices which are very aggressive in other parts of the world compare to europe. europe has to react to that president. >> wouldn't an interest rate reduction makes a difference to europe? >> well, it would not be counterproductive, certainly. so i don't think it would hurt. that might be a first step for trying to align conditions for what is happening in the rest of the world. >> the main argument against it is that the concerns of the transmission mechanism is still working effectively, the likes of germany, but many of the smes are not seeing the borrowing costs. so what is the point of reducing interest rates? >> first, also the core,s a you call it, is having problems. so i think the benefits will be there. the transition mechanism is not working that way. if you cut rates, probably part of it will be transmitted. of course, it's not enough. it cannot solve our problems, so the r

in effect in europe five years has been going on what are you going to take all of the economies and in the tank here to sequester three weeks old let's go to i don't think i don't get me wrong i don't think our economy we want to be but i would i would i would say that from when the president took the keys to this economy to where we are now our economy is not in the tank we've seen growth in g.d.p. when he took office we had negative four percent g.d.p. growth now every quarter since he's taken office you seen an increase in the spiral out of what we've all but we just about the let's talk about that let's talk about the economic facts economic facts are there's never ever been a time where deficit spending has resulted in an economic downturn it's actually quite the contrary we're going to we've seen what we had here i know that recessions been over years ago according to the national bureau. of economic difficulty so i'm not saying that we're going to tell that to all of those of millions of people that don't actually want to do that are going to find you have to you are came the

europe freely all right maureen refence consultant thanks very much for your time thank you. what are plenty more that's available for you a click away at our team including this. is a specter of tax of the boston marathon reportedly planning to carry out another bombing this time in new york's times square plus. pounded a file sharing giant pirate bay now seeking exile in iceland relocating its servers there from greenland the full story on our t. dot com. download the official publication to yourself choose your language stream quality and enjoy your favorite. if you're away from your television or it just does not so now with your mobile device you can watch on t.v. any time anyway. or un torture investigator has revealed his trip to bahrain was canceled a short notice by the gulf state the kingdom has been plagued by an arrest with authorities frequently using violent methods against anti-government protesters yet arrest shows no signs of abating over two years with the shia majority in congress trading for increased rights in the sunni world kingdom i should have i ten i

it's not like everything's easy for us we were called the sick man of europe ten years ago we had these hearts reforms we had a lot of difficulty you know we had. our east west property bubble and we're getting over that but you know we've made the discipline surest to crack down and and if you know that other countries are running into trouble as well they have to get built out and we expect the exact same thing to happen for them so you know if we're going to give some money then we expect there to be some some pain obviously some sacrifice ok so so so west germany or germany is looking at the euro as a repeat of assimilating east germany into their economy and this point is not lost on everyone else in europe who believes that germany feels it's their duty now to assimilate the rest of europe and there's a lot of antagonism now like in germany you know get out of our face we don't want us simulating us into your economy and germany is saying well other that if you don't then we're going to turn off the spigots at the e.c.b. and they try to and you're going to die from fina terry star

no surprise southern europe was the biggest market. and finally, bayer up less than 1 is% at the moment. they did miss analyst forecasts. strong demand for pesticides off set by high raw material costs at its plastics and chemicals unit. we will all be speaking to the ceo at the end of worldwide -- we're extending the show slightly, fought long, five minutes, just enough time to speak with marijn dekkers. italy, 4.056%. on tuesday, we hit that low we hadn't seen since 2009. spanish yields are ticking higher, as well. and we'll keep our eyes on this in the next sort of 13 minutes. 10-year gilt yields, 11 of 68%. pretty well contained. did britain officially get a triple dip recession or not? we'll find out. and quick look at the currency markets, firmer at 1.5290. can't quite break through the hundred level there. euro/dollar, 1 is.3041. that's where we stand in europe. let's get out to singapore. sixuan is with us. thank you, ross. most asian markets in the green today as higher commodity investors helped risk appetite. sentiment getti

million job in fronts now so is the unemployment at the demick spreads around europe it seems it's not just greece it's not just a rebel it's a goal it's not just a mouse waiting to countries like france we're going to see demonstrations spreading in those countries surely as well as people take to the streets against the old i could not make this in europe. euro skepticism has been soaring across the e.u. fueled banking crises controversial balance and harsh austerity latest surveys showing trust in the block has fallen to historic lows let's take a look at the figures collected by euro barometer the polling organization now in debt stricken spain the number of nationals who say they don't trust the european union has risen from twenty three percent back in two thousand and seven to seventy two percent last year in the u.k. previously half the population had no confidence in the e.u. well it's almost seventy percent now in germany europe's powerhouse and its biggest economy thirty six percent so they lost trust in europe back in zero seven in two thousand and twelve almost sixty perce

of the health from the international monetary fund it boasts some of the healthiest growth rates in europe one point six percent and it's no small triumph considering that back in two thousand and eight its banks debt was eight times the annual g.d.p. so the people took it into their own hands and negotiated major debt write offs at times it does seem like it's the only country in europe that's got it right take a look at this war to go greece and spain continue to spiral deeper into their excruciating financial mess their current deficit to g.d.p. ratio is just under three percent they have no money and plenty of debt but they borel more to serve their bond obligations back in two thousand and eight i slung the deficit to g.d.p. ratio was twice that of the pigs yes i sell out its banks under their own debt wait technically bankrupt the island nation managed to get an impressive job of turning its economy around it's going sector return to profitability its businesses restructured their debt and it kept growing and many of their people were able to keep their homes and five years after the

now the crisis in golf in europe maybe starting to literally cost lives academics behind a major study say that as many as ten thousand people have committed suicide due to financial ruin dr david suppler oxford university who is researching the impact of steering nomics on public health says politicians are risking more than they realise. what we've seen in studying recessions over the past century and the focus of the present crisis is that recessions hurts but when politicians respond with deep cuts so vital social supports they can turn those recessions legal in the worst case we see greeks after rate cuts malaria prevention budgets we saw a return of outbreaks at the country of their control for the past four decades the same hiv infection spiked by over two hundred percent at a time when the hiv budget was caught similarly we've seen across europe already produced series of epidemics from suicide to form on access to health care to hurt yourself proves that you can get fever so far europe's leaders have been and denial of the human costs of the stereo policies that pursued across

similarly, when tech is often to be considered heavily dependent upon europe. hey, as much as 25% of the earnings for tech has been deadly. we know this because the business doesn't dodge, that's how you learn about it, people, the analysts won't let them get away with it. all you have to do is listen to q & a, you will hear one out of every two or three questions about europe. asia, one out of every two questions. that's too hard a steeple-chase to go through. you want preventative earnings medicine, go through the company, if a fleurality of the questions are about europe, you know you will be in for a bruising next time. that's what the analysts are forcing the companies to talk about. as correlated with europe as many bank and tech stocks are, it's china that contain so many cyclical earnings of the company. join global, cummin, check out freeport, peabody or dale, owning these stocks is like owning a piece of the great wall of china. you don't want to be in them when the great wall is crumbling. i have seen yum, it has a huge business through kfc and coach

were good opportunities in europe. now they thought they were extensive. if there was real contagion in europe, wouldn't you see bond prices start to fall a little bit? >> i think so. let's go back and look at equities as a proxy for these different markets. the u.s. had a good first quarter. japan had a good first quarter. >> yeah. people ripped it in japan. anybody along the nikkei or these major japanese blue chips did phenomenally well. >> but look at china, look at the select economies in europe. they're lagging. there's still more room to grow. and i think there's still a challenge ahead of them. so i'm not sure that we're out of the woods quite yet on this european story. >> dan, thank you very much. dan cummings, bank of america merrill lynch. kate. >> u.s. prosecutors have charged sac capital michael steinberg with insider trading. he's the most senior employee of steve cohen's hedge fund to be indecid indi indicted. it alleges he used inside information related to dell and nvidia to generate $1.4 million in i

they needed those in europe as well. he spent the next six years traveling as the waiter and valet zigzagging across the country and he also had a remarkable knack to acquire languages and i found a revealing them more by a visiting american reporter who ran into frederick in monte carlo where he was working for what ws then and is now the fanciest hotel in town and was struck by how purer his french was and sounded completely parisian but when he switched to english it was a very distinctive southern black english. where was he in monte carlo? he wanted to see europe also on his way and was already in germany where he picked up quite a bit of that language. and mud to carlo where his russian future began to materialize before him and that a visiting russian noblemen hired him as a personal valet and monte carlo. what frederick said depending on whom he was talking he refers to the fact and it was a grand duke and is a term that is used to designate the sun and a grandson of russian emperors' so look he could of been ver

europe, they made money in europe. i think this is a marvel. >> you do? >> i love this company. the stock is about 14%. about 11.5% this year and it is down about 1% and mcdonald's up 14% this year and none of them beat chipotle which has had a nice rebound. chipotle and this is a company that is introducing a couple of new concepts and they have a vegetarian concept and you see them putting some others and international getting better and avocados are are not so bad and raw costs food could go their way and this is a company that's been humbled by the downturn in the stock and i like chipotle and i wish it was at 350 and not 340. when you're saying to yourself, shoot, how did they get so darn smart? and the answer is this is the best and brightest. the best and the brightest go to chipotle. the best and the brightest go to starbucks, 200,000. why do you look at me? >> the best and the brightest? is that the good thing for the u.s. economy. the best and the brightest -- >> do you want them to go to credit suisse? that happened for 20 years? where did that get us? where did it ge

were talking about which is a europe based on cooperation a europe based on trade a europe based on nation state democracy i think that vision is one that can only grow in support as the years go by. and as we reported earlier here on our two year the tough economic times are hurting even the most vulnerable. yeah i feel like i mean a laying on a good scene and the blades bad i don't know how he's going to jump or not thousands of disabled in the u.k. could soon be forced to prove to the gulf and they are disabled enough to get the money they need to know. about international landlords in the very heart of moscow. thank you for joining us here on our. show now the u.s. military is being forced to admit almost daily that the guantanamo bay hunger strikers are increasing in number but the official figure is still lower than that claimed by lawyers who say the majority of one hundred sixty six detainees have been starving themselves for nearly three months now the official figures rose exponentially after prison guard tried to break up the prison as protest against more official say ninety tw

what's going on in europe? >> it's a very rough day in europe. a jolt of reality is the degree to which the european economy continues to fall away or the stock markets break down where you have relative stability in the united states. overall across europe the top 50 stocks are down just today. 2.2%. one of the major reasons, one of the major realizations of how bad it was when they were the head of the bank. suggested yes, there could be interest rate cuts to come and you see the way the euro has tracked lower. this is a big move. the pound is down as well. there's concern about unemployment in the yipted kingdom. so whan began theday or the session as a selloff, a continued selloff in the mining stocks has really gone across the board. let me take you to the german market and show you what's happening there. bios within chemicals. let's go to france. the big french banks are down as we look at detoor yor rating economic situation. down over 4%. and that's really picking up the fall that we've had. this is a russian miner that has lost now a th

europe has always had an existence in the irish mind. in our own language the stories of europe have always been present. and some recall that made of the classical sources of the schools that preceded the widespread english-language. the irish language that preceded english had been deeply influenced by ancient european men. particularly the great such as [inaudible] in the areas across the people of europe have had a a sense of respect for what is a cultural diversity frequently drawn from the shared sense. it was however in the task of the mind and in the spirit that the irish sought to make the greatest contribution. .. and it is to the spirit of citizenship that ended my knee at a european level that might motivate you as one who gives to the true words european enya and, a sense of fulfillment and human flourishing i wish to speak in this year that has been dedicated. one more word about that meeting in july 1950. nomar did some meetings of the contemporary. come israel agenda was not a public indication. it is declared to be -- ab

the austerity has gotten europe as far as it can go. initially it was about reigning in government spending, that's been done. italian yields yield at 7, now at 4. making it easy for italy to borrow. same in spain. however, far more important, the slow down has at least arrived in germany, which has exerted tremendous hegemony over the rest of the world. meaning germany would be open to stimulus and a rate cut thursday when the pain is felt in germany, the germans can no longer fight the idea that deflation, not inflation is the issue. so much makes sense here. the run on the european bank stocks, five-year highs and the surging stocks of companies that do business in europe. the bottom is being put in, despite what the naysayers tell us. and with it, the worldwide rally. stick with cramer. welcnew york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years,

from five to three mission of course all these things mean fewer jobs so we saw what a sturdy did in europe should we be at all surprised of what's happening now that we have let these massive spending cuts go through and how many more times do we have to see it happen before we're like ok cutting spending during a recession is a bad idea and sam you blame the republicans but let's remember who i do you know what hands i blame anybody who thinks that cutting spending during a recession is a good idea and tax increases is a great idea during christmas on who you're going to tax are you going to be taxing people who are actually spending money and drive me to me are you taxing people who are sitting on billions of dollars off shore and i mean let's remember though that sequester was obama's idea no one's excited about the sequester taking place but the reason he suggested it is because he thought that it would force republicans to you down to him and i don't think the hold on the second one i think no one likes the idea is no but i think no i agree with you nobody likes it nobody likes a bill

own hands and negotiated major debt write offs of times it does seem like it's the only country in europe that's got it right take a look at this war to go greece and spain continue to spiral in their cheating financial mess their current deficit to g.d.p. ratio is just under three percent they have no money and plenty of debt but the borel war to serve their bond obligations back in two thousand and eight iceland's deficit to g.d.p. ratio was twice that of the pigs yes iceland allowed its banks to collapse under their own debt wait technically bankrupt the island nation managed to get an impressive job of turning its economy around its banking sector return to profitability its businesses restructure their debt and growing and many of their people were able to keep their homes and five years after the most devastating financial meltdown in the history it boasts the lowest jobless rate in europe less than five percent now the euro zone's strongest economy germany has five point four percent so if some think it's iceland that was humiliated the world over they should definitely think again

years after the most devastating financial meltdown in that's history in both the little strait and europe less than five percent now the euro zone's strongest economy germany has five point four percent so if some think it's iceland that was humiliated the world over they should definitely think again. well despite the rapid recovery after the economic meltdown people are turning their back on the ruling coalition preliminary results suggest that voser voters have chosen the more euro skeptic opposition during the two thousand and eight banking crisis when iceland's economy was on the brink of collapse that you seemed like a safe haven the parliament then voted in favor of the e.u. and of the island nation applied for membership since then though the eurozone has been bogged down in a great deal of trouble itself and now icelanders feel that they are better off outside of the bloc that is especially so since they already enjoy free trade agreements and are part of the travel area dr steven mccabe from birmingham city university believes independence from the e.u. is only helping iceland t

now hawkish politicians in europe and the u.s. are stepping up their game after accusing syria of using chemical weapons against rebels damascus there are calls the charges brazen lies reminiscent of the build up to the invasion of iraq and its weapons experts who are now asking questions first off they say witness accounts from that alleged sarin gas attack did not match the actual effects of the gas you origins of soil samples said to be. contaminated in such a strike are also obscure and they form the foundation of the accusations by washington london and paris remain undaunted demanding action now to secure syria's chemical weapons stockpiles independent journalist robert carney says a chemical scare provides the perfect cover for more aid to rebel forces. they clearly cannot do colin powell stopped in the united nations security council like they did with iraq because everybody full of outlaw thinks that this is a must to stick a good piece of news presentation the mainstream western media. telling this story about how they m

look at us, we fought in europe but we rebuilt europe. we left europe and traded with europe. we did the same in japan when we didn't have to do that now they are competitor. some people think we shouldn't have. we have never been a global dominator, period, end of story. >> greg: wherever we go we make things more awesome andrea andrea yeah, hello. pregnant greg if the suspects were neo nazi skin heads do you think he would have reacted the same way? >> eric: no because he is anti-semite. he has a long history. >> greg: right. >> eric: how many poor little canaries aka the 8-year-old who blew up have to die before we awaken from our geopolitical fantasy of global domination. this guy is still attached to princeton university if i'm not mistaken. >> bob: emeritus professor. >> eric: cathy bodine university of colombia. bernadine dohrn at northern law. the track record of liberal academia is atrocious. where are the conservative professors, bob. >> bob: jeez, i don't know. i got an idea. how about some of you conservatives go in and teach. >> eric: on the right to come out and

reason to meet you and all these can only focus on one country because you really look at the whole of europe we realize that growth is substantially below what is expected and if anything our growth projection for two thousand and thirteen should be minus one and then again that's why i'm positive because i don't think we can do you any worse also serve the cyprus was not a one off before before we have agrees that was called a one off and he says once politicians have done something they will definitely continue to do so so probably by the end of. this year will see flow venia as a max so called one awful if it is talking about the domino of saps who are no longer hoping that it would just be a one off yeah so for so he probably of all sarcastic but you know what he says that the real game changer they see a little bit german is the election and he says that this will be the time when europe will get three of the of the illusion that germany will rescue them whatever you do mathematically practically and of course politically it's impossible for germany to actually engage in helping europe

is decoupling from europe. as long as the ecb is effectively the back stop they've been, i think europe can continue to muddle along, eventually come out of its recession. but the u.s. will remain relatively immune because a lot of the growth in the u.s. we expect to be domestic-driven. >> nathan, we're heading into the second quarter after a stellar first quarter for the markets. what are you telling your clients to invest in right now? >> i like large cap growth. when i took a look at con edison, which gives you electricity to power your set, and they're selling at 16 times earnings, and i take a look over at some very large multinational corporations here that are selling as a group, large cap growth, selling at a group at about 25% discount to its traditional p/e ratio, i say one of the first thing an investor can do to improve their portfolio without put mortgage money in stocks is to move some money over, if they made money in small caps, if they made money in mid caps, move it over to large cap growth. t