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Jan 27, 2012
01/12
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unemployed in spain is dire enough. the latest figures show it is just plummeted into greater depths. almost one in four people in spain are out of work. that's twice the european average and it's estimated that half of all young spaniards are without a job. joining me on bbc is tom. tom, the numbers have jumped and it's a nightmare for the new prime minister, isn't it? >> it's a huge headache for the new spanish prime minister and government and it's a real problem they have had since 2008. lots of jobs in construction and then the housing crisis spain had overspent. then the statistics of what this means the reality for the spanish economy, it means less impasse and less trying to reign in its budget definite. -- deficit. and it also means less people spending money here in spain. i spoke to economists yesterday about spain's problems and his take was exports are going to be key for spain and really get out of this mess but spain is so dependant on the domestic market that there are more and more people out of work an
unemployed in spain is dire enough. the latest figures show it is just plummeted into greater depths. almost one in four people in spain are out of work. that's twice the european average and it's estimated that half of all young spaniards are without a job. joining me on bbc is tom. tom, the numbers have jumped and it's a nightmare for the new prime minister, isn't it? >> it's a huge headache for the new spanish prime minister and government and it's a real problem they have had since...
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Jan 27, 2012
01/12
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and now the dismal unemployment figures in spain. presumably this has dominated the agenda. >> reporter: there was discussion anti this cooperation between the west and east and seeing the developing world lifting the boat for everyone. i talked to numerous ceos who said they thought the eurozone crisis was pretty bad, didn't know the mood was equally as bad. i saw the figures from the uk and they're suggesting this is much deeper than they thought and worried about the spillover. the world bank and imf in the last seven to ten days have been warning that if this gets worse, it can help bring down china, india, latin america africa, in particular africa, south africa has seen its growth rate ratcheted down quite a bit. a lot of concern of how we proceed from here and the debate suggesting that germany needs to move faster and we know negotiations are taking place with greece as we speak. you can't talk about the broader global economic picture without mentioning asia, of course. stephen roach has a lot of experience in this area, pre
and now the dismal unemployment figures in spain. presumably this has dominated the agenda. >> reporter: there was discussion anti this cooperation between the west and east and seeing the developing world lifting the boat for everyone. i talked to numerous ceos who said they thought the eurozone crisis was pretty bad, didn't know the mood was equally as bad. i saw the figures from the uk and they're suggesting this is much deeper than they thought and worried about the spillover. the...
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Jan 13, 2012
01/12
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spain's government bond auction raised twice as much capital as the target. three-year bonds sold at a yield of 3.8%. only recently borrowing costs for spain were 1% higher. >> is very positive. we have raised twice the targeted amount with a much lower yield. the markets are welcoming measures taken in the last few weeks. >> italy raised 12 billion euros. 1-year treasury bills were priced to yield 12.5%. italy and spain have withstood the year's first tests, but there are more to come. by the end of march, italy has to pay back 2 billion euros' worth of bonds. spain has to pay back a total of 36 billion euros by the end of the quarter, so it will have to sell more to make the payments. despite italy's austerity efforts come at it has 2 trillion euros in public debt, making it the biggest liability for the eurozone. >> as a rule of thumb, it is up to a 75% of a downgrade. >> the italian prime minister reiterated that italy would continue its austerity drive. >> the european central bank benchmark lending rate remains at a record low of 1%. the ec be made a de
spain's government bond auction raised twice as much capital as the target. three-year bonds sold at a yield of 3.8%. only recently borrowing costs for spain were 1% higher. >> is very positive. we have raised twice the targeted amount with a much lower yield. the markets are welcoming measures taken in the last few weeks. >> italy raised 12 billion euros. 1-year treasury bills were priced to yield 12.5%. italy and spain have withstood the year's first tests, but there are more to...
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Jan 21, 2012
01/12
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is the same easy credit that brought spain to its knees. misguided or not investors hope it will bring the town back to life. >> if huto guess which european political figure has the biggest following in china who would you choose? probably not this man who is not refound for his charisma or high profile, despite being president of the european council but his blog on china's social networking site on which he posts has attracted hundreds of thousands. >> he heads an organization that includes heads of state or government of all 27 e.u. members. surely the citizens are familiar with the president of the e.u. council. >> do you know this guy? >> no. >> excuse me i don't know who is it. >> no. >> the president of the european republic. you are go to cut that, aren't you? >> he is a former priority of belgium. he likes to mingle with the public. and he likes writing poetry. >> the harvest is reaped. trees are shaking off their leaves. evening is near. >> but his way with words has made him a star far beyond the e.u.'s border it is. in china --
is the same easy credit that brought spain to its knees. misguided or not investors hope it will bring the town back to life. >> if huto guess which european political figure has the biggest following in china who would you choose? probably not this man who is not refound for his charisma or high profile, despite being president of the european council but his blog on china's social networking site on which he posts has attracted hundreds of thousands. >> he heads an organization...
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Jan 24, 2012
01/12
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WMPT
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he stands accused of breaking spain's amnesty law which was brought in after franco died so that spain could move on. it is his second trial of the judge recognized around the world, which has serious implications about spain's silence and whether crimes committed in the past could be the subject of future investigations. baltasar garzon became a champion for human rights campaigners in 1998 when he indicted the former chilean dictator pimochet for crimes committed under his regime. in a roomful of spanish and foreign journalists in madrid, human-rights lawyers condemned the the judge's trial. they said this was the first time in an established democracy that a judge was being prosecuted for investigating alleged abuses of human rights. death,s after franco's someone is finally being prosecuted in spain in connection with his crimes. the great irony is that it is the very judge who saw to investigate those crimes. >> but not far away in his office full of files related to the case, the man whose organization brought to trial against judgthe judge said the l was politically motivated wh
he stands accused of breaking spain's amnesty law which was brought in after franco died so that spain could move on. it is his second trial of the judge recognized around the world, which has serious implications about spain's silence and whether crimes committed in the past could be the subject of future investigations. baltasar garzon became a champion for human rights campaigners in 1998 when he indicted the former chilean dictator pimochet for crimes committed under his regime. in a...
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Jan 26, 2012
01/12
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KCSMMHZ
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shrugged off that news from spain. they closed at their highest level in half a year on thursday. our correspondent has more from frankfurt. >> a very serious situation in spain, but these -- the country is doing better in the capital markets than portugal. traders said portugal could be the next greece, a candidate for default. you see that in the prices being garnered for their bonds but a portuguese bonds fell so far the deal is reached record highs, highs measured since the introduction of the euro. people here but worries like that on the back burner. they were so glad that the united states that the central bank guaranteeing record low interest rates until 2014. some of that money will flow into equities, people here hope. >> let's get a closer look at the markets. we will check on that rally in frankfurt. the blue-chip dax closed higher on the day, nearly two percentage points higher. similar gains for the euro stoxx 50. trading still under way for the dow jones industrial average. it has reversed some earlier g
shrugged off that news from spain. they closed at their highest level in half a year on thursday. our correspondent has more from frankfurt. >> a very serious situation in spain, but these -- the country is doing better in the capital markets than portugal. traders said portugal could be the next greece, a candidate for default. you see that in the prices being garnered for their bonds but a portuguese bonds fell so far the deal is reached record highs, highs measured since the...
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Jan 13, 2012
01/12
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greece, italy and spain want a moratorium. they rely heavily on iranian crude oil and they're worried about hurting their own economies. the sources say eu nations are trying to reach an agreement to impose the embargo on petro chemical products in three months, and crude oil in six months. >>> iranian naval commanders threaten to close the strait of hormuz if the emboring oh goes into effect. the narrow passage at the entrance to the gulf is a major sea lane for oil tankers transporting crude from the middle east. they warned the u.s. aircraft carriers to stay out of the area. iran announced last friday, the islamic revolutionary guards will conduct an exercise next month in the strait of hormuz and persian gulf. u.s. naval commanders warned any interference with freedom of navigation will not be tolerated. they threaten military action if iran tries to block the strait. the united states will station two carriers in waters near the gulf to prepare for any cop continue genessee. british defense secretary phillip hammond said
greece, italy and spain want a moratorium. they rely heavily on iranian crude oil and they're worried about hurting their own economies. the sources say eu nations are trying to reach an agreement to impose the embargo on petro chemical products in three months, and crude oil in six months. >>> iranian naval commanders threaten to close the strait of hormuz if the emboring oh goes into effect. the narrow passage at the entrance to the gulf is a major sea lane for oil tankers...
WHUT (Howard University Television)
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Jan 31, 2012
01/12
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WHUT
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it was brought in after franco died, the former dictator in spain, and basically designed so that spain could move on and forget the past essentially ended banned anyone from investigating any crimes committed under the franco regime. he stands accused, in 2008, of starting an investigation into alleged it -- stopping an investigation into alleged crimes of the franco regime. >> what sort of reaction is there? i imagine he is quite a popular figure. >> i think generally speaking you can divide opinion into political camps, essentially. if people are on the center right of spanish politics they generally think what he did by trying to invest in a previous crimes was wrong, but people on the center-left generally believe spain should start to investigate the crimes committed under the franco regime. and of course, many of the relatives of those people who midwest -- missing under the franco regime and they obviously one of those alleged crimes to be investigated and they are the strong supporters of judge garzon. i think you can generally take this down political lines because the two gro
it was brought in after franco died, the former dictator in spain, and basically designed so that spain could move on and forget the past essentially ended banned anyone from investigating any crimes committed under the franco regime. he stands accused, in 2008, of starting an investigation into alleged it -- stopping an investigation into alleged crimes of the franco regime. >> what sort of reaction is there? i imagine he is quite a popular figure. >> i think generally speaking you...
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Jan 12, 2012
01/12
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KCSMMHZ
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definitely they are saying is easier for states like spain and italy to get fresh new money. the dax went up because of the news that came in here, but at the end of the session, its is
definitely they are saying is easier for states like spain and italy to get fresh new money. the dax went up because of the news that came in here, but at the end of the session, its is
WHUT (Howard University Television)
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Jan 13, 2012
01/12
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WHUT
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judging italy against spain? >> we have to consider the differences between spain and italy, because the political situation is different. despite the fact that spain has an even worse situation than italy at the economic level, the political situation is more stable. there is a clear government. that will allow for the following years. in italy, the political situation remains unstable. >> a big test on january 30. they go to the markets for long- term debt. that's a different story altogether, david. >> this is gmt from "bbc world news." i am david eades. these are the headlines. burma has begun releasing more prisoners, including several prominent dissidents. pakistan's prime minister, yousuf raza gilani, has described a parliamentary vote of confidence as a choice between democracy and dictatorship. as the united states slowly winds down its military operations in afghanistan, it seems the taliban could be benefiting from a boom in the opium supply. a big increase in the price compared to 2010 and the poppy c
judging italy against spain? >> we have to consider the differences between spain and italy, because the political situation is different. despite the fact that spain has an even worse situation than italy at the economic level, the political situation is more stable. there is a clear government. that will allow for the following years. in italy, the political situation remains unstable. >> a big test on january 30. they go to the markets for long- term debt. that's a different...
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germans are friends of spain units that are using zero so in them then you have to incentive to live on on behalf of. infected can only profit from this money to redistribution if you have a higher deficit then other countries for example if germany has a deficit of three percent and the rest of the eurozone has a deficit of ten percent of g.d.p. this is all monetized and then prices rise eight percent. in the euro zone then you are so then losing so then let me ask you this i didn't mean to step on your toes there is there any scenario where you would support a euro system or are you against the entire notion of a common monetary policy even if there is linked budgets where you could solve the problem if for example you saw a bit of the c b two except government bonds as collateral. and if you flip the c.b. to buy government bonds and if you. governments to bail out other governments then you have no problems that deficits one interest. and then the governments just go bankrupt. and that's it ok so bankruptcy not bell out so let's talk about speaking of bankruptcies and defaults let
germans are friends of spain units that are using zero so in them then you have to incentive to live on on behalf of. infected can only profit from this money to redistribution if you have a higher deficit then other countries for example if germany has a deficit of three percent and the rest of the eurozone has a deficit of ten percent of g.d.p. this is all monetized and then prices rise eight percent. in the euro zone then you are so then losing so then let me ask you this i didn't mean to...
WHUT (Howard University Television)
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Jan 27, 2012
01/12
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WHUT
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spain is hurting. with less people spending money, it's hard to see how this problem in the short term will be resolved. >> with more unemployed, that means the spanish government are only now more in unemployment benefits at a time they are receiving less in tax revenues. many are predicting spain will slip into recession. >> europe is still full of acrossc worries, but gio the atlantic and there may be positive signs in the united states. >> for the last three months of last year, we will find out the gdp numbers. we are expecting an annualized rate of 3%. overall, in 2011, it should grow by 1.7%. consumers are spending. they are buying more cars. companies are buying more machinery. unemployment has dropped to 8.5 %, the lowest in three years. the troubled housing market is showing an improvement. it's all good news. going forward, it does not look that rosy. of course, the u.s. is watching europe very closely. let's listen to what u.s. treasury secretary, timothy geithner, had to say that davos. >>
spain is hurting. with less people spending money, it's hard to see how this problem in the short term will be resolved. >> with more unemployed, that means the spanish government are only now more in unemployment benefits at a time they are receiving less in tax revenues. many are predicting spain will slip into recession. >> europe is still full of acrossc worries, but gio the atlantic and there may be positive signs in the united states. >> for the last three months of last...
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Jan 20, 2012
01/12
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KCSM
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reduced fourth quarter sales, especially in spain, italy, and greece. and in their home markets of france. the company blamed weaker discretionary spending and promotion costs. the forecast for tehran -- for 2012 is challenging and uncertain. they're reviewing plans for new branches country-by-country. it operates in some 9500 stores in 32 countries. you have got a new development and an interesting story. >> yes, new developments surrounding the affairs surrounding german president christian wulff. on thursday, police in lower saxony raided the home of his former top aide. olaf glaeseker resigned as the spokesmen in december without giving any reason. state prosecutors say they are investigating bribery allegations against olaf glaeseker, who took vacation paid for by a wealthy businessman. president christian wulff faces similar accusations of improperly benefiting from public office. to the united states now, and there have been two major twist to the republican presidential contest. texas governor rick perry pulled out of the race for the white hous
reduced fourth quarter sales, especially in spain, italy, and greece. and in their home markets of france. the company blamed weaker discretionary spending and promotion costs. the forecast for tehran -- for 2012 is challenging and uncertain. they're reviewing plans for new branches country-by-country. it operates in some 9500 stores in 32 countries. you have got a new development and an interesting story. >> yes, new developments surrounding the affairs surrounding german president...
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Jan 3, 2012
01/12
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WMPT
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we have new unemployment figures. >> for both germany and spain. but spain has some big problems. that is no surprise is given the fate of the spanish economy at the moment. the the new government and what rajoy has to deal with. these are monthly numbers. these are not the official yearly unemployment rates. these come from the labor department. the number of registered unemployed in spain rose to 4.40% in the month of december. it is the highest level month we have seen since they started collecting these numbers in 1996. these are from the labor department, the labor ministry, not the national statistics office. they put down the unemployed close to 5 million, just under -- 4.97%. they say we have unemployment in spain at a 15 year high the of 21.25%, it is the highest unemployment amongst major industrialized countries. highlighting the challenge facing prime minister rajoy who said that is one of their primary challenge is to get people back to work. these figures from journey. they're raw numbers. the german jobless rate -- the proportion of people registered as unemployed a
we have new unemployment figures. >> for both germany and spain. but spain has some big problems. that is no surprise is given the fate of the spanish economy at the moment. the the new government and what rajoy has to deal with. these are monthly numbers. these are not the official yearly unemployment rates. these come from the labor department. the number of registered unemployed in spain rose to 4.40% in the month of december. it is the highest level month we have seen since they...
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where it said that the film industries of spain and sweden have been totally wiped out which you know prompted a request from the swedish and spanish film industries for him to apologize i mean anyone who knows the girl with the dragon tattoo knows that swedish film industry is doing just fine and so again you know this is the make of these apocalyptic scenarios that you know artists will be destroyed unless these laws as you saying the head of the spanish film industry resigned in protest of these laws these are about protecting artists the copyright monopolies are the biggest threat to artists they're the real pirates they're constantly stealing loyalties from the people who actually make the movies music that we love but these laws are threat to these big companies and their stranglehold on the artists their control of the distribution market that allows them the power to steal these royalties that's what's in threaten here and that's why they're so desperate to stop the internet now we've seen a lot of growing opposition at least to protect ip act here domestically you know coming
where it said that the film industries of spain and sweden have been totally wiped out which you know prompted a request from the swedish and spanish film industries for him to apologize i mean anyone who knows the girl with the dragon tattoo knows that swedish film industry is doing just fine and so again you know this is the make of these apocalyptic scenarios that you know artists will be destroyed unless these laws as you saying the head of the spanish film industry resigned in protest of...
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Jan 16, 2012
01/12
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a secret agent of the king of spain. w for 20 years he received bribes from spain. in return he was special agent never 13 for about it sounds like maxwell smart he broke records it is not clear that the spanish got much value for what they paid him as is often the experience in d. roosevelt road a book and said there is no more despicable character but in one of his reports come i tried to keep an open mind, he tells the spaniards about the lewis ander clark expedition int dell's them to haul them off to mexico. then he tells them about the daniel boone settled and encourages the spaniards to break it up and send them back to kentucky.leme if you sell out melissa and clark and daniel boone you are a bad guy. there is an episode was the louisiana purchase theri tissue the idea of a personality with a hard drinking guy with few military achievements and court martial for some regularity and always exonerated. it was said he has never lost a battle or one an investigation. [laughter] and to hand over the louisiana territory, they had a formal ball. most of the residen
a secret agent of the king of spain. w for 20 years he received bribes from spain. in return he was special agent never 13 for about it sounds like maxwell smart he broke records it is not clear that the spanish got much value for what they paid him as is often the experience in d. roosevelt road a book and said there is no more despicable character but in one of his reports come i tried to keep an open mind, he tells the spaniards about the lewis ander clark expedition int dell's them to haul...
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Jan 15, 2012
01/12
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we inherited the education system from spain. we have a bad education program because the spanish teach you how to follow orders. now we need somebody to be creative and now we change and to our whole thing on the education system. the education system -- we have never had inflation because we have all of these people coming from outside. we have been a country of zero inflation. >> no. 4 -- a very low unemployment rate. how do you deal -- i want to talk about social challenges. i there's a good one on that can answer you. we have some differences between rich and poor. >> poverty is big -- class -- what we did a few years ago -- >> [unintelligible] all of those projects that came out, no matter what government is in power will be financed with 35% income from the new canal. a country with so much growth and so much difference that we get another chavez like venezuela. >> you want to take people who are in poverty and bring them up? >> yes. in poverty and the money from the state and the city -- because of the difference between
we inherited the education system from spain. we have a bad education program because the spanish teach you how to follow orders. now we need somebody to be creative and now we change and to our whole thing on the education system. the education system -- we have never had inflation because we have all of these people coming from outside. we have been a country of zero inflation. >> no. 4 -- a very low unemployment rate. how do you deal -- i want to talk about social challenges. i there's...
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Jan 15, 2012
01/12
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because they wanted to send their goods through new orleans which was controlled by spain and spain was not allowing american goods through. there was an act of active secession movement then. indeed, and the 1790s, there were two rebellions in pennsylvania. there was the whiskey rebellion and the freezer billion. both rebellions were led by people who didn't want to pay taxes. this is an american staple. politics hasn't changed a whole lot. but it was shocking to find the letter that jefferson wrote and he actually broke the sentiment twice in 1804, when he wrote really the difference of the prospect of secession. he said whether we remain in one confederacy or form into atlantic and mississippi confederacies, i believed not very important to the happiness of either part. that was the western confederacy will be as much our children as those of the eastern and i feel myself as much identified with that country in future time as with this. imagine if president obama were to say of california well, if they want to go their own way that's okay. i will still think well of them. but it
because they wanted to send their goods through new orleans which was controlled by spain and spain was not allowing american goods through. there was an act of active secession movement then. indeed, and the 1790s, there were two rebellions in pennsylvania. there was the whiskey rebellion and the freezer billion. both rebellions were led by people who didn't want to pay taxes. this is an american staple. politics hasn't changed a whole lot. but it was shocking to find the letter that jefferson...
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spain's unemployment is now at an all-time high. we learned just a couple days ago it's now in excess of 22% and its budget deficit is likely to have surpassed 8% in 2011. that is well ahead of a 6% target. that, again, was an unwelcome surprise. well now we want to look ahead to what those austerity measures could include. we'll know for sure a couple hours or so but for now, al goodman joins us from our madrid bureau. al, what are we expecting? >> reporter: i had, charles. we're expecting them to be talking about more austerity measures but as they did last friday when they said they would be talking but not implementing too many austerity measures there could be surprises that seems to be a trademark of this young government which just took power a few weeks ago. last friday, they did a nearly $20 billion package of austerity cuts and tax increases. the tax increase was on the income tax. that was a surprise to many people. critics say it will hit the middle income and lower income people hardest. what can we expect today? they'r
spain's unemployment is now at an all-time high. we learned just a couple days ago it's now in excess of 22% and its budget deficit is likely to have surpassed 8% in 2011. that is well ahead of a 6% target. that, again, was an unwelcome surprise. well now we want to look ahead to what those austerity measures could include. we'll know for sure a couple hours or so but for now, al goodman joins us from our madrid bureau. al, what are we expecting? >> reporter: i had, charles. we're...
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Jan 28, 2012
01/12
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WMPT
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how worried should we be about italy and spain? >> well, i think you should be very worried about italy and spain. i think from the standpoint that they have to do a considerable amount of financing, you have a big spike in italian financing that comes up at the end of february. and between february through june, i think, it's close to a hundred billion dollars that has to be financed. spain has financing. other european sovereigns have financing. and the really scary thing is you look at where portugal's going. port began's five-year cds is well over a thousand right now which puts-- it's heading towards the greek levels. so there's a lot here to be very concerned about going forward. >> and everybody is very conditioned about all of that. scott, thanks for coming on the program tonight. >> pleasure's mine. >> susie: we've been speaking with scott macdonald at m.c. asset management holdings. >> i want that experience working in the manufacturing field because it's important to me. >> tom: still ahead, we head to a chicago high sch
how worried should we be about italy and spain? >> well, i think you should be very worried about italy and spain. i think from the standpoint that they have to do a considerable amount of financing, you have a big spike in italian financing that comes up at the end of february. and between february through june, i think, it's close to a hundred billion dollars that has to be financed. spain has financing. other european sovereigns have financing. and the really scary thing is you look at...
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Jan 1, 2012
01/12
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CSPAN2
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once it really has a presence in spain, i see the take off period. starting 1610, there is a proliferation of publications and when you see them scratching their heads of what it means some of the publications are written both by medical authorities and theological authority is. and health wise what does that mean? they're utterly aware of the addictive nature of tobacco in talk about how they use the metaphor of slavery to talk about it. they don't know about cancer but talk about people burned out and black and and using their sense of smell. actually a the mainstream view is to have a note to there's no such thing as the o.k. amount of tobacco but it is about moderation. the we're catching him to where people were in the 17th century. about the beneficial aspects of teeeighteen dark chocolate and they're very aware of it have been goodie facts as well with healthy blood circulation. we would like to follow up on how many things people already perceived the commentators back then. also the return is that too much chocolate is not a good thing but i
once it really has a presence in spain, i see the take off period. starting 1610, there is a proliferation of publications and when you see them scratching their heads of what it means some of the publications are written both by medical authorities and theological authority is. and health wise what does that mean? they're utterly aware of the addictive nature of tobacco in talk about how they use the metaphor of slavery to talk about it. they don't know about cancer but talk about people...
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Jan 27, 2012
01/12
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CNBC
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spain would have to devalue by 25%. even france would have to devalue. of course they don't have their own currency, so the only way to make up for that loss of competitiveness is squeezing their economies hard lead iing rising unemployment so the finance ministers need to acknowledge the pain that's been felt on the periphery and it will continue to be felt for quite some time. >> the german plan is going to cause a deflationary spiral in the peripheral countries. while we're here quibbling about a greek deal and it now seems to have come down to the imf needs to be squabbling over whether maybe the ecb or some public body needs to take a hit on their holdings. >> it's ridiculous. i remember being in washington in september. then it was hoped that europe would come out with this big bazooka of such that the imf might come in to help. at that time it was talked about this firewall needing to be about 2 trillion or 3 trillion euros. we didn't see any comprehensive action then. politicians have been very slow. they've neither been comprehensive or fast eno
spain would have to devalue by 25%. even france would have to devalue. of course they don't have their own currency, so the only way to make up for that loss of competitiveness is squeezing their economies hard lead iing rising unemployment so the finance ministers need to acknowledge the pain that's been felt on the periphery and it will continue to be felt for quite some time. >> the german plan is going to cause a deflationary spiral in the peripheral countries. while we're here...
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Jan 5, 2012
01/12
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let's have a look at spain again. the prime minister has only just launches austerity measures. >> absolutely. it was a bombshell of 15 billion euros only announced a few days, where it included tax hikes, spending cuts, and another round. it's almost another week, another round of austerity measures for spain, but this is the new government in spain trying to convince and prove to -- well, not only the rest of the eurozone, but also to the markets that they can fight their deficit, they can bring their deficit down. they can get the economy back on track. you see a line of unemployed there standing in front of an employment office. that's the biggest hurdle for spain, just over 21.5% unemployment, the highest unemployment rate in the industrialized world. so it is a huge battle, so we're going to wait and see what this next round of austerity will include. i'll go live to spain on the "world business report" in about 17 minutes' time. >> thanks a lot. after new sanctions against iran coming from washington, it's up t
let's have a look at spain again. the prime minister has only just launches austerity measures. >> absolutely. it was a bombshell of 15 billion euros only announced a few days, where it included tax hikes, spending cuts, and another round. it's almost another week, another round of austerity measures for spain, but this is the new government in spain trying to convince and prove to -- well, not only the rest of the eurozone, but also to the markets that they can fight their deficit, they...
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Jan 13, 2012
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president sarkozy holding crisis talks and reports that austria could lose their aaa rating and italy, spain, and portugal could see their ratings drop by at least two for whichs. and, by the way, it could boomerang back to us and we could go down a notch as banks continue to face incredible pressures. j.p. is seeing profits plummet 23 percent last quarter and europe's problems being blamed and a lot of banks here exposed big time to what is going on over there including bank of america now warning things are getting so tough it is ready to retreat from u.s. markets. if the president is banking on a strong u.s. economy to win for more years economic forecaster says it is not looking too good. and to harry's credit, he did say a lot of this stuff would fall this year. harry it is coming into play here. what do you making of this? >>guest: well, i agree, europe, we have said this, young debt crisis will come back and keep coming back, temporary band-aids will not work. the bond markets pulled the plugs and germany is saying you have to have austerity for us to support you with bailouten like w
president sarkozy holding crisis talks and reports that austria could lose their aaa rating and italy, spain, and portugal could see their ratings drop by at least two for whichs. and, by the way, it could boomerang back to us and we could go down a notch as banks continue to face incredible pressures. j.p. is seeing profits plummet 23 percent last quarter and europe's problems being blamed and a lot of banks here exposed big time to what is going on over there including bank of america now...
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Jan 12, 2012
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investors are starting to believe spain is on track. listen to this. >> in contrast to other countries in the euro area, spain has made enormous strides. they introduced this that break into the constitution. it is a very rare occasion. of course, the austerity package is that you just mentioned. i would say that the market is taking -- >> in terms of the european central bank, the rate decision date -- nobody is expecting any change. as i mentioned, all the money they have pumped out. let's see where we go from here. >> some airlines. air asia pulling out of europe. >> the low-cost, long-haul. it is cutting its european routes. that means a six weekly flights to london and four weekly flights to paris. the ceo has also said that the new our mission tax imposed by the eu has compromised their ability to offer low fares. the whole business model -- many have tried to make it work. many have tried and many have failed. i did ask our correspondent, given the attacks, could bear asia be the first casualty over this whole -- could air asia b
investors are starting to believe spain is on track. listen to this. >> in contrast to other countries in the euro area, spain has made enormous strides. they introduced this that break into the constitution. it is a very rare occasion. of course, the austerity package is that you just mentioned. i would say that the market is taking -- >> in terms of the european central bank, the rate decision date -- nobody is expecting any change. as i mentioned, all the money they have pumped...
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Jan 7, 2012
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italy and spain will have their first debt auctions of thehe yer next week. and s some ak economic data is adding to the fears over the eurozone era in germany, factory orders fell sharply in november, the biggest drop in three years as demand from abroadd weekend. the official figure was down, germany relies heavily on exports, andnd anasts do not expect a turnaround in coming months, but they say there is no reason to panic as sentiment among business executives remains positive. a better than expxpectejobs rereport from united states coud not offset concerns that the eueurozo is aded for a recessssion. stocks closed lower in europe. our correspondent has more from frankfurt. >> good news from the american labor market was simply not enough. in the eurozone, business sentg. the german manufacturing sector reports about less factory orders, and then the international monetary fund is considering another lowering of its growth forecast. all these factors w were just to much for the stockraders here in frankfurt. adding to this is the concern about the eurozon
italy and spain will have their first debt auctions of thehe yer next week. and s some ak economic data is adding to the fears over the eurozone era in germany, factory orders fell sharply in november, the biggest drop in three years as demand from abroadd weekend. the official figure was down, germany relies heavily on exports, andnd anasts do not expect a turnaround in coming months, but they say there is no reason to panic as sentiment among business executives remains positive. a better...
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up enough though for none to over to a store level modest for team spain defeating lleyton hewitt six three three six seven games by would mean decisive doubles rubber and they turned into the loose end of the flush of the day is truly taking the first set for spain four back in the second the third a war of attrition before the spaniards edged the l.f. and nine for the overall win. ok let's talk n.b.a. basketball now a perennial underachievers to new york knicks and twenty eleven on a high note seeing off the sacramento kings uncalled for then fashion on the road the visitors starting as they meant to continue finishing the opening quarter of a full fifteen points ahead leaving thirty five twenty on the me the scoring for the next with twenty three thirty this point around fall to make it fifty six forty two in the second period the hosts did reduce the deficit to thirteen by the end of the third so the final twelve minutes were to belong to them and blew out of nine more points on their californian rivals one hundred fourteen ninety two the final score new york and i make it she win
up enough though for none to over to a store level modest for team spain defeating lleyton hewitt six three three six seven games by would mean decisive doubles rubber and they turned into the loose end of the flush of the day is truly taking the first set for spain four back in the second the third a war of attrition before the spaniards edged the l.f. and nine for the overall win. ok let's talk n.b.a. basketball now a perennial underachievers to new york knicks and twenty eleven on a high...
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Jan 23, 2012
01/12
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spain may have to wait until 2013 before the economy is growing again. by what is expected to be only a modest 0.2%. rim as a new ceo. it says that its co-founders will step down from the ceo post. taking over will be thorsten heins of germany. he joined rim in 2007 and has a big job ahead of him as he tries to bring the cool back to the blackberry. the market value has plummeted by tens of billions of dollars in recent years, and new phones it deemed critical to its future have been delayed. well, he is accused of costing the entertainment industry millions, but the founder of the file-sharing service megaupload has denied charges against him, which include internet piracy and money laundering. kim dotcom of germany asked the new zealand court to release him on bail, but the prosecutor at the end of a flight risk and claimed he has ample access to funds and multiple identities. the judge declined to make any immediate decision. for now, kim dotcom remains behind bars. >> thank you so much. here in germany, a new study commissioned by parliament has foun
spain may have to wait until 2013 before the economy is growing again. by what is expected to be only a modest 0.2%. rim as a new ceo. it says that its co-founders will step down from the ceo post. taking over will be thorsten heins of germany. he joined rim in 2007 and has a big job ahead of him as he tries to bring the cool back to the blackberry. the market value has plummeted by tens of billions of dollars in recent years, and new phones it deemed critical to its future have been delayed....
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Jan 6, 2012
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people looking for work in spain are having the toughest go of it. the country marked the highest-ever jobless figure among member states at 22.9%. unemployment in spain was especially high among people 25 years old and younger. it hit 49 .6%. the lowest unemployment rate among eurozone states was recorded in austria, at 4.0%. >>> the u.s. has released employment data for december and the results beat market expectations. the u.s. labor department says the jobless rate dropped 8.5% from 8 .7%. the previous month. the figure was better than the market forecast of about 8.7% and the lowest in almost three years. employers generated 200,000 more jobs in the nonfarm sector, which sensitive to economic trends. the transportation and warehouse industry added 50,000 jobs. most of those gains occurred in the courier and messenger sector. >>> michael woodford's campaign to return to the top post at olympus is over. he says his tussle with the optical equipmentmaker has taken too much of a toll on his family. that means he won't lead a proxy fight on behalf of
people looking for work in spain are having the toughest go of it. the country marked the highest-ever jobless figure among member states at 22.9%. unemployment in spain was especially high among people 25 years old and younger. it hit 49 .6%. the lowest unemployment rate among eurozone states was recorded in austria, at 4.0%. >>> the u.s. has released employment data for december and the results beat market expectations. the u.s. labor department says the jobless rate dropped 8.5%...
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the yield of spain's ten-year bond dropped to about 5.1%. sources say that commercial banks bought these government bonds as ample funds from three-year loans provided by the european central bank last month are being put to effective use. however, concerns over the european debt crisis do remain. some investors expect that the credit ratings for each euro zone nation may be downgraded. uncertainties remain into whether expansion will be enough to curb market jitters. >>> the eu is ruling hungary about penalties for concerns that a widening rift could cast a shadow of the country's financial aid. hungary is moving to centralize policy making authority to the government. at the end of last month it passed legislation that will remove the power from the central bank to a point its deputy governor. the european commission has expressed concerns that the country's move will violate eu laws which uphold the independence of a central bank from its government. >> so we will use all our powers to make sure that hungary complies with the principles a
the yield of spain's ten-year bond dropped to about 5.1%. sources say that commercial banks bought these government bonds as ample funds from three-year loans provided by the european central bank last month are being put to effective use. however, concerns over the european debt crisis do remain. some investors expect that the credit ratings for each euro zone nation may be downgraded. uncertainties remain into whether expansion will be enough to curb market jitters. >>> the eu is...
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perry in spain there aren't any that are in the hot seat yet because the two largest ones the. b.c.s. . and forgetting the third or they actually have done fairly well compared to their competitors but you know the large french banks the large italian banks and the german lead. banks are all in big trouble particularly the italian the french banks they have lots of counter party risk and i talian and french banks that's our sovereign that's italy and spain they really have your eyes on it let's look at i know you're not a currency expert per se but you follow europe closely and i'm sure you have your eyes on it and today we saw that the euro is trading at a dollar twenty eight which is lower than it really actually through the first time since september two thousand and ten this has happened big question are americans going to be vacationing on them all because this summer for less money than they did last year that's the exact same problem that we had in terms of thinking about equities as well because if the u.c.b. does what it is it has to do in order to keep the ball rollin
perry in spain there aren't any that are in the hot seat yet because the two largest ones the. b.c.s. . and forgetting the third or they actually have done fairly well compared to their competitors but you know the large french banks the large italian banks and the german lead. banks are all in big trouble particularly the italian the french banks they have lots of counter party risk and i talian and french banks that's our sovereign that's italy and spain they really have your eyes on it let's...
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Jan 24, 2012
01/12
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spain has struggled to grapple with whether it should investigate its past. it has only been a democracy just over 30 years. when franco died in 1975 they brought in an amnesty for all the crimes that could have been committed on both sides by the dictatorship and republic forces. but you only had to see the crowds in support of the judge to see what a big moment this is for the relatives of thousands of people who disappeared under the regime of frank can he. other side there are people had think it would be terrible to look into the dictatorship and what happened back then. so it is a big issue and one that is being followed by international human rights lawyers. amnesty international and human rights at a press conference they held here, they believe this is the first time in a consolidated democracy, a well established democracy a judge is going on trial for investigating alleged human rights abuses. >> it sounds fascinating. tom, thank you. at least 10 were killed and 30 wounded when two car bombs exploded in sadr city. one bomb went off near a gruba of
spain has struggled to grapple with whether it should investigate its past. it has only been a democracy just over 30 years. when franco died in 1975 they brought in an amnesty for all the crimes that could have been committed on both sides by the dictatorship and republic forces. but you only had to see the crowds in support of the judge to see what a big moment this is for the relatives of thousands of people who disappeared under the regime of frank can he. other side there are people had...
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first blood twenty ten champions spain open their home run cup campaign with victory really despite the hosts taking the opening rubber in perth. and causing a splash we look back at one of the most thrilling sport events of twenty eleven the french leg of the cliff diving world championships. let's get the ball rolling with football it could have been a historic start to twenty twelve for months sister city but instead the sky blues dream of taking over sole control of the premier league went up in smoke against sunderland city hall made it through the stadium of light by an injury time drive from. breaking the hearts of the only some one else on the go and win means the three title favorites city cross-town rivals on joint table toppers united on chelsea all lost their games this weekend earlier on sunday everton claimed the first win of twenty twelve in the league a late goal victory. making all the difference against west brom everton above the baggies and the tenth in the table. now to me our bill of dean off didn't see any playing time in his side's win over west brom indeed he ma
first blood twenty ten champions spain open their home run cup campaign with victory really despite the hosts taking the opening rubber in perth. and causing a splash we look back at one of the most thrilling sport events of twenty eleven the french leg of the cliff diving world championships. let's get the ball rolling with football it could have been a historic start to twenty twelve for months sister city but instead the sky blues dream of taking over sole control of the premier league went...
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after that though fernando verdasco levelled modish for team spain defeating former world number one lleyton hewitt six three three six seven five that would mean a decisive doubles rubber under turned into the most competitive clash of the day is truly taking the first set before spain's storm back in the second the third a war of attrition before the spaniard aged nine not quite extraordinary finish there. let's talk n.b.a. basketball now where perennial underachievers to new york knicks have ended twenty eleven on a high note seeing off the sacramento kings in called for then fashion on the road to persevere starting a statement to continue finishing the quarter a full fifteen points ahead leaving thirty five twenty three being scoring charts for the knicks with twenty three including this two pointer. and not made it fifty six forty two new york in the second period boosted reduced the deficit to thirteen by the end of the third but the final twelve minutes where the belong to them and then blew out of nine more points than their california rivals one hundred fourteen ninety two
after that though fernando verdasco levelled modish for team spain defeating former world number one lleyton hewitt six three three six seven five that would mean a decisive doubles rubber under turned into the most competitive clash of the day is truly taking the first set before spain's storm back in the second the third a war of attrition before the spaniard aged nine not quite extraordinary finish there. let's talk n.b.a. basketball now where perennial underachievers to new york knicks have...