banking it was the greatest central bank the world has ever seen i know what's happened is after the growth faded we suddenly have a crisis and the fed sits there and goes oh well actually we can't do anything to help you i'm terribly sorry it's a cult and it's a disaster for government ok we need time to let the government only the second now after a short break and after natural break we'll continue our discussion on the global economy stage. the i. believe. the first step to. the sound. in india is available against sigrid central shirts in limbo and the taj mahal the same time as president but you're the famous results of beatrice a poet clothes are going to go on taj mahal hotel charges some rent hotel. hotels. in the radio the judge the hotels church in new delhi her. babyhood tones clearing collections among the plaza the imams maidens hotel the dog was a medicine ship and it was promised safer cash cow that's. the kitchen sisters. come up the phone to. welcome back to cross talk i'm here a little to remind you we're talking about learning to use fact mum can say. ok and i to

banks and the private banks or one of the central bank does central bank in europe or what does that benefit from what france and germany are proposing when they benefit more from euro bonds will be used to be better will be used to use a client of the back so it's really they doing the bidding of the banking system so that it is the benefits it's the seat and the accuracy of the market because it would be a bigger market within which these you could play like if you were sort of the treasury bond market you would give it more power manipulating interest rates and you just loosen the price of money and by keeping interest rates low allows the banks to get cheap money so i don't like what the same time it pushes down the ability of workers to stay and live it is the middle class so it's a futile mark when you have several times that keep interest rates not mode which is what we have here i mean we're not over to the united states because this is somewhere where our central bank is keeping interest rates very low it's also somewhere where we've heard calls for a balanced budget amendme

banking it was the grid a central bank the world has ever seen and know what's happened is after the growth faded we suddenly have a crisis and the fed sits there and goes oh well actually we can't do anything to help you i'm terribly sorry it's a call by and it's a disaster for government and the government only the second now after a short break and after that cerberus will continue our discussion on the global economy stage our. please. please. just so. wealthy british scientists. markets. can find out what's really happening to the global economy for no holds barred look at the global financial headline is good news to cause a report. for the full summit we've got. the biggest issues get a human voice face to face with the news makers. slump. to say. welcome back to cross talk i'm here at all to remind you we're talking about her name she's fat mum can you say. ok and i to start off again with martin barnett look at the interesting thing at jackson hall the informal meeting that was extremely formal it looks to me and i think it is a lot of evidence to bernanke is saying don't lo

markets are once again in decline a brief rally after the central bank said it would start to buy up spanish and italian government bonds to restore confidence proved to be short lived daniel bushell is following the situation from brussels and now joins us live danielle a volatile session we're not seeing the kind of nosedive many were predicting but it does not look good out there does it. feel over black monday all growing as the stock markets across europe. today the e.c.b. the european central bank made a wrist some the announcement to try and reassure people saying that it will boil it tullie in spanish which no one wants to touch at the moment but chancellor merkel of germany poti was saying that she wouldn't increase the e.u. bailout fund suggesting that if spain collapse if their economy goes on and that she and germany europe's largest economy won't help instead merkel is piling the pressure on those states for even more pain from the measures that italy's prime minister silvio berlusconi says he'll bring forward the savage government spending cuts in italy by year now ital

following the move, the japanese central bank is taking action. the statement was released on early monday morning after an emergency phone meeting. it says g-7 members confirm that they would take measures against problems concerning financial deficits, debts and economic growth. the members agreed to closely discuss the issues and cooperate to improve the situation. in response to the statement, japan's central bank decided on monday to keep the yen in the banking system, which it injected last week. the central bank hopes to quell investor jitters by keeping overall market liquidity high. the boj says that the amount of funds in the market on monday is expected to exceed 4.7 trillion yen or $60 billion. the bank will keep a close watch on the market and supply funds when necessary. the international monetary fund welcomes the pledge by g-7 officials. imf managing director christine lagarde said the coordination between the g7 mashtss would help maintain market confidence. she said swift implementations by euro zones to reduce the u.s. fiscal de

central bank that but that may be china now the i.m.f. predicts that china may be the number one economy in two thousand and sixteen the i.m.f. is always cautious in real economic output on this probably that might happen early as already is the number one car producer number one the number one commodity consumer and so on top of saw rethinking the u.s. and the rest and countries generally on decline china is rising and more of a crisis is coming down the road particularly in the west and one market and the currency market because money printing is what they have to do to get out of is that for if there anything. in washington what is the role of the fed right now i mean again we look at quantitative easing part one part two maybe it will be three out there but it doesn't seem to have an impact on the economy except for maybe and i guess you could make the case some people have it kept the economy from going into free fall over can't seem to groove your car to be really. the federal reserve has a difficult position because the more they t

banking it was the grid a central bank the world has ever seen and know what's happened is after the growth faded we suddenly have a crisis and the fed sits there and goes oh well actually we can't do anything to help you i'm terribly sorry it's a cult fight and it's a disaster for government ok when i'm not the government only the second out after a short break and after natural break we'll continue our discussion on the global economy they are. zoe. lose. its tz . see. see. see. smudge can see. the future. say. welcome back to crossfire i'm here with ultra mind you were talking about learning to use fat slow . economic slow. ok and i could start off again with martin barnett look at the interesting thing in jackson hall the informal meeting that was extremely formal it looks to me and i think it is a lot of evidence to burn and he is saying don't look at me any more ok it's not my job it's you people in washington in your gridlock politics this is why we have this problem and on top of that we have an election cycle going on right now is for nancy passing the ball and say look it's

banking it was the greatest central bank the world has ever seen i know what's happened is after the growth faded we suddenly have a crisis and the fed sits there and goes oh well actually we can't do anything to help you i'm terribly sorry it's a cult and it's a disaster for government ok when i'm not the government and the second now after a short break and after that cerberus will continue our discussion of the global economy state. and. download the official anti allocation of your money for the i pod touch from the i.q. saps just see life on the ghosts video. on cheese minefield costs an r.s.s. feeds now an apology. question. can see. the same. welcome back to crossfire i'm here with ultra mind you were talking about her name she's fat the same can say. ok and i could start off again with martin martin that led the interesting thing in jackson hall the informal meeting that was extremely formal it looked to me and i think it is a lot of evidence to bernanke is saying don't look at me anymore ok it's not my job it's you people in washington in your gridlocked politics this is why

banks, european central bank, the federal reserve and the other central bank in the world saying what tools do they have to kick up the economy. it's what richard said, policy tools, that's what they're talking about? lowering interest rates? interest rates are very low. can't lower them. what else can they do? can the fed print money? kyra? >> so, richard, what do you think? is that a good idea? the fact that bernanke has talked about printing more money, good idea, bad idea? >> you've got no choice. this is the environment that you're in. look, i want to make -- there's one thing that you have to say and it's uncomfortable to say to one extent. and when you get comments like rick perry's and treasoners and the sort of comments he made concerning the fed and ben bernanke, the markets take those sort of comments quite seriously. and they take them with a certain amount of unease. these are, as the one word again and again and again people are talking about, global economy, particularly in developed worlds, is dangerous. morgan stanley talked about it. other economists are now saying i

and their central bank. and to end with a system of. liberal bribery which is campaign finance robbing and the revolving door we see washington and wall street and other major global corporations you know we saw david we saw with intel and we demanded and know instead of being passed we're going for the bond with you so we go out of the manga and it's not going to happen i would say that i want to ask you we've got warren buffett and an editorial asked to be taxed more he said the super s. including himself and his friends should be taxed more essentially saying that right there my friend i have been coddled long enough by a billionaire from the congress it's time for our. government to get serious about shared sacrifice do you think that he represents more wealthy people or do you think that this is the anomaly in a friends think he's crazy though it's one thing like war of the state but it's another thing to actually put some substance behind their words. ok what about howard schultz the c.e.o. of starbuck

the european central bank made a really the announcements. try and reassure people saying that it will blow up italian and spanish which know most of the top at the moment the chancellor of germany spoil the party by saying that she wouldn't increase the e.u. bailout fund suggesting that it's only and spain collapse if their economy goes on and that she and germany europe's largest economy won't help instead merkel is piling the pressure on the states for even more painful measures that it's at least prime minister silvio berlusconi says he'll bring forward the government spending cuts in italy boy a year now italians already furious saying they'll oppose those measures so there were talk of a national strike and it's really at the moment obviously worrying news there the g seven g twenty groups of leading economies have held an emergency conference call to say that they've got the situation under control but investors are voting with their feeds here in europe and they say they just don't trust them the fact that's america's in panic off the

. >> the german president criticizes the european central bank for buying up the debt of eurozone countries. >> russian authorities arrested men in connection with the man who murdered anna politkovskaya five years ago. libyan rebels are moving to secure their gains in tripoli as their forces in the capital, under sniper attack and shelling by forces loyal to muammar gaddafi. the council has offered an award to anyone who delivers some of dead or alive. the rebels were able to ensure the safety of one very prominent group. >> four days they were tracked in the hotel fearing for their lives. now they are free and safe. the 40 foreign journalists were let go. sauce costs. says sen in parts of tripoli, the fight rages on. snipers the road to the airport said. -- fighting in parts of tripoli goes on. the rebels are still confident and say most of the city is now under their control. >> where are the fighters of gaddafi? >> early on wednesday morning, the first sign that gaddafi was still alive. a message from a syria-based television channel. he said he had to withdraw from his compound for tac

well at least the central bank is doing the right the right job and the shift in mind that happened in the past year is indeed helping to curb inflation but not do you think we'll go back to a time when inflation was fourteen or fifteen percent. while i think with a flexible ruble policy and. flexible bill policy and central banks interventions at the minimum i think there has been a regime shift in inflation and probably we are looking at the highest the highest level with around ten percent so we're not going back to fifteen e. all the central bank is actually targeting seven percent of inflation this year do you think that's achievable. and certainty about inflation for this year is huge because the slowdown that we've seen has been driven by vegetables prices and this component is very volatile so it's possible that inflation will stay it will decline to seven percent if vegetables prices continue falling but my concern this fiscal policy for the second half of the year and the stronger ruble has been helping keep prices down the currency has been sliding winsomely what's your outl

banks and the private banks are sort of the central bank does that not making europe or was that benefit from what france and germany are proposing when they benefit more from the euro bonds. we'll be seeing you the better we'll do you see he's a client of the back so it's really at the end. of the banking system so we're going to fix the bank and if it's. nice to be in that case it would be better for the european market because it would be a bigger market within which the e.c.b. could. wipe the us out of the treasury bond market would give it more power to manipulate the streets and you just loosen the price of money and by keeping interest rates low and a lot of banks to get cheap money speculate what the same time pushes down do you believe you were going to sue and liberty's the middle class so it's a futile model when you have several bios that keep interest rates down look which is what we have here and we bring this over to the united states because this is somewhere where our central bank is keeping interest rates very low it's also somewhere where we've heard calls for a balanc

the banks are in better shape and central barks are -- banks are more on alert. so at this point you are down 1,100 or 1,200 on the dow it does not continue straight. >>shepard: bank of america is down $95 share and their numbers are in trouble and it has to do with countrywide but bank of america is a sign of something. >>guest: yes. >>shepard: they just passed the stress test. >>guest: no one is saying they are at risk of going away. it is more what the earning potential is. that is a better trade to make rather than liquidation. >>shepard: he will be around as we watch the end the market and we will bring you context and perspective more ahead on the big sell off and how it affects our investments. [ male announcer ] imagine all of your missed opportunities in one place. ♪ the race of your life you never ran. the trip around the world you never took. the best-selling novel you never wrote. but there's one opportunity that's too good to miss. the lexus golden opportunity sales event, with exceptional values on the lexus es. but only until september 6th. see y

central bank warns the region's financial system is now in the worst state since world war two but the spike the bank starting to buy government bonds from spain and italy to prop up their struggling economies trading has been a problem here as euro zone in the u.s. could slow growth or already struggling economy is planning to boost the powers of it bailout to keep the contagion from spreading to the major connor meet our europe correspondent daniel bashar has more. even the cheerleaders for the euro or depressed. the european central bank said this is the worst crisis since world war two and it requires quote unconventional measures now central bankers the famous for their calm are being reassured and when you hear someone like that coming out with such radical phrases you want the investors in the markets a panic you have heard of the european central bank of spanish and italian which no one wants to touch at the moment would experts actually feel the. only close is. slash spending less money going to create jobs and things when really the only way out of this crisis is for the coun

central bank chief warns the region's financial system is now in the worst state since world war two but still spike the bank starting to buy government bonds from spain and italy to prop up the struggling economies trade is very volatile with fears that the eurozone and u.s. could slow growth already struggling economies the eurozone is playing to boost the powers of its bailout fund meantime to keep contagion from spreading to major e.u. economies i spoke earlier to dr christian right she's from the frogs frankfurt technical university and told me the european central bank's movie is actually doing more harm than good right now. if you look at the mere size of a country like italy i am convinced that it is not possible to do just lets say is straightforward as a matter of fact what the city is doing here i think is perhaps to do it. strictly is a breach of trust they encourage certain behavior so that some countries can free ride on the expense of others and this is something which in the long run rather threatens the euro area than strengthen its. we should be aware if you look at

downgrade hit the ruble the russian central bank then admitted it is that you already started intervening after the russian revolt its biggest drop against the year in seven years one day drop in seven years so they didn't specify exactly how much money they were buying up but as we said we're certainly seeing a lot of instability still are we going to see the market stabilizing well they will certainly but yet the traders that we're speaking to have been saying much of what we're seeing at the maybe defense midget. if you really look they confident that they did and it's where they're at the market they're going to be able to a. monk the best it stable life not. all right for a complete picture let's take a look at those figures that was telling us about r.v.'s down two point eight seven percent nice legs point one percent in the red so the positive sentiment which was coming from the u.s. and europe as they rebounded did the have some effect but was not enough to have the russian markets gain in the end the close cast from losing one point nine percent nucor did manage to gain point thr

about such a move the european central bank expressed a negative view. a comment was made to reporters on thursday after he was asked if he supports the solo action by japan to buy the dollar and sell the yen. trichet said market intervention should be based on multinational decision. a few days after the march 11th earthquake and tsunami in japan, g-7 nations intervened jointly as the yen surged to a record high against the dollar. new york stocks plunged across the board on thursday sending a key stock index down more than 500 points. the dow jones industrial average ended the day at 11,383. that is down 512 points from wednesday's close. the dow fell more than 500 points for the first time since december of 2008 when the layman shock triggered an economic slowdown. sell orders surged on the back of lingering worries about the u.s. economic slowdown. remarks by european central bank trichet suggesting concerns on the outlook weighed on market sentime sentiment. 500-point plunge results in a 4% loss with the dow ending in an eight-month low. to see how

create a central bank outside of earth or depend on an invasion from outer space aliens from abroad of course so might also argue that this is a thinly veiled reference for the need to create more war because people often say well world war two got america out of the depression so having failed to stimulate the economy by let's say imposing the rule of law and by eliminating parasite bankers and imposing true accountability they want to go and send us servicemen and servicemen from other countries to the front line and get slaughtered so that paul krugman doesn't look like an intellectual pig being well speaking of war an act of war has of course spent a clarity over the past week chavez orders eleven billion dollars of gold home then as well as finance minister jorge to your death donny said that the weakening u.s. dollar and near default by the u.s. government and the european sovereign debt crisis threaten venezuela savings and they will be more secure at home and in allied countries yeah that's right the various gold hoards by various countries are not held in those various coun

flexible about policy and central banks interventions at the minimum i think there has been a regime shift in inflation and probably we are looking at the highest the highest level of around ten percent so we're not going back to thinking well the central bank is actually targeting seven percent of inflation this year do think that's achievable. and certainly about inflation for this year is huge because this slowdown that we've seen has been driven by vegetables braces and this component is very volatile so it's possible that inflation will stay it will decline to seven percent if vegetables presence continue well and but my concern this is called bulls for the second half of the year and the stronger ruble has been helping keep prices down the currency has been so lighting winsomely what's your outlook on not . pulling their u.s. downgrade the central bank allowed the ruble to take the heat from all in all price a negative spin or shrug so from the from this point of view the central bank allowed the ruble to be just too negative terms of trade been in the. press continue fallen on

the european central bank said this is the worst crisis since. and it requires quote unconventional measures no central bank has a famous big call for being reassured and when you hear someone like that coming up with radical phrases you want the investors in the markets upon making. the european central bank boy a spanish italian which wants to talk to the moment with the president as you can see the reaction on the stock exchange is. actually for. what the e.c.b. is doing is only bringing defaults closer is forcing e.u. states to slash spending less money going in to create jobs and build things when really the only way out of this crisis is for the countries themselves to grow out of it with their economies which means putting more and spending more on the economy and creating new jobs now barack obama has consulted with the heads of spain and italy which are the latest countries to join this euro storm now economist warned that the united states has a common problem with the eurozone they both have unsustainable bets with no real plan b. and

and their central bank. and two and a system of. political bribery which is being fought in well being and the revolving door between washington ross tree and other major global corporations you know we saw david. hill read. the biography of me so we go out there it's not going to happen ok ok that was you we saw warren buffett in an editorial after the tax more he said the super s. include himself and his friends should be taxed more essentially saying that right there my friends i have been coddled long asked by a billionaire from the congress it's time for our government to get serious about shared sacrifice do you think that he represents more wealthy people or do you think that this is the anomaly and his friends think he's crazy well it's one thing for people like warren buffett will say that but it's another thing to actually. going there were some actually wrong there ok what about howard schultz the c.e.o. of starbucks he's frustrated over leaders playing partisan agendas over people's agendas he's saying the country should

downgrade hit the rebuttal of the russian central bank then admitted that is that you already started intervening after the russian revolt hit its biggest drop against the year in seven years one day jump in seven years so they didn't specify exactly how much money they were buying up but as we said we're certainly seeing a lot of instability still are we going to see the market stabilizing will no one certain of that yet the traders that we're speaking to have been saying much of what we're seeing at the maybe it is sentiment driven yet investors have really lost their confidence at the moment and is whether the markets are going to be able to even come that fear factor amongst investors to stabilize the markets kind of like some of the headlines with carol. we'll. bring you the latest in science and technology from. the future coverage. tonight let me take you through a top story thousands of police move on to the streets of london to prevent new violence and looting after three days of disorder and that outbreak of rest has been reported in the northern city of manchester where hun

downgrade the ruble the russian central bank then admitted it is that you already started intervening of the russian revolt its biggest drop against the euro in seven years one day jump in seven years say they didn't specify exactly how much money they were buying up as we said we're certainly seeing a lot of instability still are we going to see the market stabilizing well there was certain of that yet the traders that we're speaking to have been saying much of what we think that maybe defense may have been yet in fact. is it really a confidence that the maybe it is where they're at the market again to be able to say the coming. months invested stabilize the market. all right let's take a look at the comparable complete picture at the exact figures and figures on the russian markets r.t.s. down two point eight seven percent my six just below the fifteen hundred points mark down three point one percent if you look at individual share movers on the my six majors closed next gazprom losing one point nine percent while lukoil gain point three five burbank the most liquid stock on the mar

european shares regain the some ground for their own heavy losses but the central bank chief warns that the region's financial system is now in the worst state since world war two but despite the banks starting to buy government bonds from spain and italy to try to prop up their struggling economies trading's been volatile with fears the eurozone and us that could slow growth we're ready struggling here as i was playing to boost the powers of its bailout fund the keep contagion from spreading to major but christian reich spoke to their over from the front foot technical university told me the european central banks move is actually doing more harm than good. if you look at the mere size of a country like italy i am convinced it is not possible to do just as straightforward as a matter of fact what the city is doing here i think is perhaps to do it and say it is a breach of trust they encourage behavior so that some countries came for your eyes on the expense of others and this is something which in the long run rather threatens the euro area than strengthen its. we should be aware if yo

the european central bank will lower inflation forecast and seized raising interest rates. a monthly european commission survey showed economic sentiment in the 17 countries using the euro fell to a measure of 98.3 in august from a revised 103 points in july. optimism declining in all sectors. the euro zone will need strong economic growth to put an end to the sovereign debt crisis. economists are expecting the euros on the economy to grow by only a 10th of one%. in an effort to get its debt situation under control, italy held a bond auction tuesday to raise fresh capital. the sale attracted few buyers. traders said the european central bank quickly stepped into the secondary market in order to prevent interest yields from rising to unsustainable levels. >> on the milan stock exchange, it is lower-than-expected. rome is trying hard to read how the market confidence. the prime minister's government has put forward a 45 billion euros austerity plan, but it is already being watered-down. a tax for high earners has been scrapped. >> unfortunately, there is a global economic cri

and a volatile day of trading in asia comes as the european central bank breaks into the markets and in africa to keep the spanish and italian economies from collapse brings us the details now from brussels. this is becoming a blog balls last week was the worst for world markets in years yesterday became known as black monday as shares plummeted and now today has become even worse and even the cheerleaders for the euro all depressed. the european central bank said this is the worst crisis since world war two and it requires quote conventional measures now central bankers are famous for their calm for being reassured and when you hear someone like that coming out with such radical phrases you want the investors in the markets panicking a he had hoped the european central bank the spanish and italian which no more talk at the moment would help the cause and as you can see the reaction on the stock exchange is. actually the e.c.b. is only the fools closer. to slash spending less money going in to create jobs and things when really the only way out of this crisis is for the countries the

the european central bank said the this is the worst crisis since world war two and it requires quote unconventional measures now central bankers the famous for the calm of being reassured when you hear someone like that coming out with such radical phrases. investors in the markets a plan making he had hoped the european central bank boy or a spanish and italian did which no one wants to touch at the moment would help but it doesn't as you can see the reaction on the stock exchange is experts actually fear what the e.c. is only closed it's forcing e.u. states to slash spending less money going to create jobs and build things when really the only way out of this crisis is for the countries themselves with their economies which means putting more in spending more on the economy and creating new jobs and. barack obama has consulted with the heads of spain and italy which are the latest countries to join this euro storm now economists warn that the united states has a common problem with the eurozone they both have unsustainable was no real plan b. and as our correspondent alex a euro sh

central bank chief warns the region's financial system is now in the worst state since world war two that's despite the banks starting to buy government bonds from spain and italy to prop up the struggling economies trading's been volatile with fears that eurozone and u.s. that could slow growth are already struggling economies the eurozone is planning to boost the powers of its bailout fund to keep contagion from spreading to major economies let's talk more about this bring into the picture dr christian reich first of economics at the frankfurt technical university dr thanks ever so much for being with us is appreciated you're on the r.t. international now u.s. markets open slightly higher we've witnessed that should we take that as a positive sign for the days ahead. excuse me. you're just going through some problems just letting you know you're all i. see international let me put this question to you again u.s. markets so you can slightly higher should we take there's a positive sign for the days ahead. well if you look at some markets at the moment i don't think that every reacti

now europe's stock markets are also in the red brick rally after the central bank said it would start to buy up spanish and italian government bonds to restore confidence proved to be short lived are just daniel bushell is following the situation from brussels. the e.c.b. the european central bank made a risk announcement to try and reassure people saying that it will boil it. which no one wants to touch the moment. of germany's poti by saying that she wouldn't increase the e.u. bailout fund suggesting that if spain collapse if their economy goes on that she germany europe's largest economy won't instead mcaleese piling the pressure on those states for even more painful measures that it's in these prime minister silvio berlusconi says hugh bring forward the savage government spending cuts you need to leave boy a year now italians already furious saying they'll oppose those measures so there are talk of a national strike committee at the moment obviously. the big g. seven g. twenty groups of leading economies have held an emergency conference call to say that they've got the situation

had as indicated the government and not the central bank should be tackling that that crisis is this just pushing responsibility back and forth. you know the e.c.b. is right in the first line of defense a true fiscal policy in other words it should be the years of and the european financial stability mechanism. he's in charge of fighting it but at the present time years and simply not enough money to stabilize for example the italian bonds so we have to buy some time and during that period the e.c.b. will do you will also buy some some of these public bonds from italy but after that certainly the responsibility returns to the years of them as soon as the money is there. all right this stuff pouring live with us on the line from disorder thank you very much for your and now thank you. well our business is on top of the global markets let's check in with dimitri who is standing by and will bring us some details on our the mood of the russian markets now the u.s. markets have opened how is that affecting the russian markets or that has actually changed the mood a nice not only on the ru

four into a five just like japan be doing for the last twenty years when the central bank of america prints money that has a profound impact on the economies all over the world especially the developing economies in asia because inflation really picks up in this part of the world because the economy is in asia generally speaking are in a lot healthier state than they are in the u.s. or in europe when mr bernanke it prints money. says the value of the u.s. dollar devalues the dollar makes commodity prices go up and that causes inflationary headaches to enjoy so everything is interconnected money printing and stimulus in the u.s. is not good for the rest of the world ok let's talk about some of this and asian economies in the u.s. get its house in order as you say china holds the most u.s. debt has already weighed into washington failing to pull the problem in the vice president joe biden is actually off to beijing on a reassurance mission health skeptical is china. china is extremely skeptical they must be very worried if i was the biggest holder of u.s. treasuries i'd be worried too

or the european central bank has revealed the details of its emergency operations and say it's me and spain from the debt crisis it's been direct or twenty two billion euros or government bonds that's ahead of tuesday's meeting between. another attempt to stop the crisis from spreading as artie said evolution reports hopes of survival within the euro zone are fading. some work to live others lives to work corky market combines the two today he and his nephew run the picture frame in shops that are by hawking grandfather almost a century gulf but the family firm is in a rough spot. like all in spain my business has been struggling although it's not visible in all areas of business times have been very hard. consider this unemployment at more than twenty percent one of the highest in the eurozone it again should sovereign debt ever cross their bonds and the country's problems don't stop there despite being the fourth largest economy in europe spain is definitely feeling the bite of the credit crisis and that many asking the question is the result such a great idea after all the answer m

he had hoped the european central banks boy up of spanish and italian beds which no one wants to touch at the moment would help but it hasn't as you can see the reaction on the stock exchange is experts actually fear what the e.c.b. is doing is only bringing defaults closer it's forcing a huge states to slash spending less money going in to create jobs and build things when really the only way out of this crisis is for the countries themselves to grow their economies which means putting more in spending more on the economy and creating new jobs now barack obama has consulted with the heads of spain and italy which are the latest countries to join this euro storm now economist warned that the united states has a common problem with the eurozone they both have unsustainable bets with no real plan b. and as our correspondent alex a euro ships reports new countries are being put off from joining the euro. while parts of europe have been teetering on the edge of economic abyss poland has remained stable in the storm along with this currency. there is a widespread belief in the country that

well in terms of our technical capabilities the european central bank can go on as long as it runs supporting the bonds being emitted by kind of like spain italy greece and all the other troubled countries but of course these kinds of interventions all kinds of side effects in terms of the conduct of monetary policy in general and of the economic conditions for the real economy so there is no doubt in my mind that will not come down this road as the as they have been going in the past weeks so if they don't get the bailout up and running and taking over a part of the responsibilities in the interventions that the e.c. is doing now we will end up with a situation where there will be for example opposition within the european central bank by the people of the boom. and here in chief of trans business magazine. thank you very much for your analysis this hour. the e.u. is concerned that market uncertainty is threatening europe's economic recovery as crisis measures agreed last month are implemented including greece's second route but with the deal not yet finalized markets are wary of what politi