tv Bloomberg Markets Balance of Power Bloomberg April 24, 2018 12:00pm-1:00pm EDT
trump presidency. i am shery ahn. david cohen this is bloomberg markets balance of power. the two leaders are already talking trade in iran. they are apparently already having differences. president trump once again refers to the iran nuclear deal as insane and ridiculous. president macron is urging trump to remain in the of -- in the accord. our europe researcher with the eurasia group, the most important thing on the agenda was the iran situation, the deal and the sanctions. president macron is urging trump to remain in theit sound like 'g toward each other at least yet. >> no. i do not think this is surprising. i think the trump administration expects a lot of the european it's -- europeans in terms of making the iran deal much tougher to their willing to go some effort to move in trump's friend action the particularly on the civil nuclear programs,
they're are just not willing to compromise. issues, macron might be more successful on talks with trump and one issue might the trade. president have the option of going alone? will that have a real effect on iran? >> which president? >> i'm sorry, president trump here can he really have much of an effect on iran without the support of europeans? >> he can pull out of the deal which makes it extremely difficult for the economic benefits being promised to iran to actually flow into iran. companies interested in investing in iran might be slightly more worried to -- about doing so. most european companies who have any kind of international activity see the u.s. as an important market. trump has an opportunity to make the deal less us -- less
sustainable in less attractive although all of the remaining sides say they will try to keep it even if the u.s. doesn't participate. >> the press conference was supposed to start 15 minutes ago and it has an delayed. should we be more confident it should be something more substantial than just adding another symbolic visit? i think the symbols are important. this is the first organized under the trump presidency. seen very interesting new developments with the department of europe. also on substance, we can be slightly more optimistic trump will give macron a much further -- will carry on after the current exemption is due to expire. there could be some substance as well. i think the presentation is an
so exaggerated given the number of central -- sensitive issues they will discuss, he cannot expect to convince trump of everything. >> pictures earlier one president trump met with emmanuel macron at the white house. can macron capitalize on his relationship with president trump? we have made a lot of it as a budding bromance between the two. >> i do not quite subscribe to this being described as a bromance. i think macron approaches this pragmatically. he knows trump likes him and trump has called him much more often than either theresa may in the u.k. or angela merkel in germany. macron wants to use this. trump isrelations with seen as an asset, something they can try to use to represent eu resources at the white house. struggling to communicate with trump. i'm not sure this will help macron in the eu.
viewers will be familiar with his ambitious proposals on reform which has run into problems recently. ethical be hard to say look, i have such a good relationship with trump that you have to give what i want in europe. his proven quite difficult. >> let's go in a different direction to what are the other ,hings with president macron with china and the fact that steve mnuchin will be going to china next week to talk about trading. interestan aligning when it comes to intellectual property? i think that is a real concern not just in the united states. there is a perception europe lax and too lacks -- europe has adopted a slightly tougher strategy recently and i think it expects your to be
sether on china with tests out to give europe a permanent exemption for aluminum. these are talks taking place at this moment, whether the europe -- as far as being tough on china is concerned, i think they're optimistic they passed the tests are tepid will -- technical level, but always need a strong backing which merkel is trying to maintain. >> we are waiting now for a news conference in the east wing of -- ihite house where they want to bring in my colleague from washington. trip over tois china by mnuchin? what do expect with that? >> it looks like a trade war. that is what markets are hoping for. know they'll get what
they want from china, a commitment to stop the theft of u.s. property. >> of course, the u.s. and 1, if they may exemptions run out. >> i do not think they have quite reached the deal either. chance that will be the top of the agenda and that could be the resolution? >> i think right now, it is not even the steel tariffs, but keeping the president in the iran nuclear agreement, that was the real focus of the talks today and the focus of angela merkel's his visit later this week. >> a question of the tagteam
between -- and angela merkel on the other hand. are they uniting? let's specifically talk about the iran situation, which is paramount at the moment. >> strategy as far as trump or concerned. they haven't had a united message as far as trump was concerned. they try to keep the ministration as close as possible to multilateral presences that trump has personally rejected. slightly more optimistic on the iran deal or climate change. that is more in the realm of damaged limitation at this stage. >> could we see an agreement
with president trump on the iran nuclear convince him to stay? part of the week's conversations, whether trump and europeans can agree on additional measures and provide constraints on iran. they have done a much tougher deal with iran than the obama administration has a i think the european administration can agree with some. i think they can agree on missiles, but they are really are not in agreement with the u.s. on constraining iran's ability to have a nuclear program. i think that is why it seems likely at this stage that there won't be agreement on the iran deal. >> president macron will address congress over here. at the head ofed the night states president and
make an appeal on iran? >> i think macron would not describe it that way but he would send a different message to congress as he does to president trump. when he arrived, his declaration for the u.s. media in english contain some statements that seem sort of sympathetic to trump or the language trump might appreciate and his present statement was suffering much more favor of multilateralism. a slightly different message to itgress and it also suggests is longer than president trump would be so congress season him the future of leadership in the west and what that should look like. to be careful because he will be speaking in english. >> many thanks to the europe analyst in the eurasia group.
of theime for a check markets. here is abigail doolittle. theail: at this point amid political headlines among a slew of earnings reports, we have solid declines for the major averages on tuesday. the dow is down .7% outpaced slightly by the nasdaq but what stands out is the major averages. with had a little volatility today and right now, the dow is on paper for its first five day slide, a bit of a bear streak here amid the earnings season. let's take a look at what is tracking on the nasdaq causing the underperformance. effort that trading down by 4% after they reported the first quarter. they beat the earnings and sales estimate sales by 2.4% and adjusted earnings before 5%. is very strong,
suggesting it remains strong. the acquisition costs are coming in high. you see the entire group is down at this point ahead of both facebook and amazon reporting later this week. the company is sharply lower on the day. they missed top and bottom line estimates. in addition, the ceo did say that change is that target the use of river systems curtailing meeting the standard is not feasible as to why investors are so nervous. we see the shares responding in a negative way. weping into the bloomberg, can see what is weighing on the markets from a macro standpoint. can view the chart of the 10 year yield. it is a longer-term chart. around the time of the taper tantrum, the 10 year yield hit down moreailed recently moving back toward 3%.
the pattern in january suggests that the 10 year yield could move up to 3.9%, causing jitters for equity traders as investors and traders wonder what the effect of the pricing could be if yields shoot that much higher. >> yes. thank you for that. a committing vote sends mike pompeo's nomination to the floor. shoeingthe democrats over? that is next. this is bloomberg. ♪
mark: french president emmanuel macron is trying to persuade president trump to stay on board with the iran nuclear deal. he will have a tough fight. in a meeting at the white house, president trump called the deal insane and said it never should have been made. you can watch it here live on bloomberg television. house democrats unveiled a whistleblower who used to work for a research firm hired by the trump campaign. watch it here live on bloomberg television. last month, christopher wylie revealed cambridge analytica had acquired tens of millions of facebook profiles to harness data. just to renew his warning that so-called malicious actors are --ng social media pager due to australia pauses military losses as he met with which honors,
fallen servicemen in australia and new zealand. the prime minister said australia and nato agreed to collaborate on the prevention of the use of chemical weapons following the march poisonings in the u.k. of the former russian spy and his daughter. quickly discussed a joint response and the decision to expel russian diplomats. to send a clear message that criminal action will not be tolerated or australia is the only country outside of eu and nato to take the action. we continue to stand up for shared values and the safety and security of our people. mark: the prime minister will stress the need for the international community to for sanctions on north korea, until we see complete, verifiable, and irreversible denuclearization. least 15 people killed in kenya. the country has had an unusually long and heavy rain season.
is an obsolete drainage system. several major highways have been closed because of the flooding. global news 24 hours a day on air and on tick tock on twitter, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. david? president macron hoping to sell president trump on the iran deal maverick to maverick, but the president's mind does not seem to be changing it. president trump: people know my views on the iran deal. was a terrible deal. we could have made a reasonable deal. it was a terrible deal. we had $150 billion and we gave $1.8 billion in cash, actual cash. barrels of cash. -- barrels of cash. it is insane. >> what could this mean for
negotiations with tim john kuhn? still leads our national security conference in washington. it did not seem like the president was being ambiguous about his views. >> know, publicly, it does not seem that he has changed his views at all. this is always a sense of discussion with the french continue to support the deal with all of the other countries involved in it. they want to find ways to keep the president in after the may 12 deadline he asset for making on the u.s. role in the deal. they're looking for side agreements with the deal and the nuclear agreement and they are looking to find a way to sanction iran if it continues to test its ballistic missile's. they want the u.s. to stay in because it is the only leash on iran's nuclear program that the world has. >> we will talk but with the president seems to find objectionable. they will not get the money back here the barrels of cash.
are there other things the europeans could be willing to do question mark president trump said, i may not love it but i will go along with it? >> that is the european aussie soap. instead of the provision, whether there could be some triggers that would make some the sanctions jump back into place if it looks like iran is making progress on developing a nuclear weapon. they want to find a way to sanction iran the next time it finds long-range ballistic missile, which could hit a number of countries in the region. whileave to do that continuing to persuade the president that he should just stay in the agreement as they -- you mentioned the context of north korea here, is some things the white house has to consider are just a few weeks away from president trump swing -- sitting down with kim jong-un in the historic summit. it would be bad for optics at
the least if the u.s. reached the deal and .16 and iran suddenly pulls out because it has a new president. that will make north korea think twice about if any agreement they reach with trump, how long-lasting it will be. if the compliance is not really great for optics, as you say. the state department has been the lead in negotiations with european allies on the iran deal. what happens now that mike pompeo has passed a committee vote and headed to a full floor vote. how would he impact the negotiations? >> might -- mike pompeo is the director who passed a big hurdle yesterday getting past the foreign relations committee vote . he will go to the floor for the the on whether to be secretary of state. he said in his confirmation hearing he would like to find a way to strengthen the deal.
as a constant before he was in house, one of trump as his advisers, he was strongly opposed to the iran deal and had views that were very similar to president trump. he does have a lot of influence on the president and the fact that he is saying he will try and find a way to keep the u.s. strengthen the deal, it is probably a good sign for european allies and other people interested in keeping the u.s. in. >> thank you. bill leads national security coverage in washington. david: still ahead, still awaiting the news conference between president trump and emmanuel macron. live as soon as it happens. this is bloomberg. ♪ ♪
wall street this quarter, beating the big boys at their own game. to tell if a little more, lisa abramowicz of bloomberg news. lisa: this is an interesting story because we have had other withanks come out earnings. shares declined. he came out with record .irst-quarter revenue shares have a loss doubled since the 2014 initial public offering. this came even as, check that out, it is huge. even though revenue slipped 16%, in wall street banks, it shows how much they are at an advantage. money from smaller mergers and acquisitions as well as larger ones, as well as the irish stock exchange.
particularly, they had a big energy present spirit given the fact that oil prices has solidified, you had seen more deals come through with that sector. david: does this mean there were at the right place at the right time, or do they have a better mousetrap? will this spill over to other investment banks, so to prove the notion come you need a big bank to support investment banking question mark >> that is an excellent question, pushing back against the same questions. it was not across the board and i want to remind you there has been so much money flooding in the private space. certainly, other boutique investment banks. think it will get done? david: i don't know.
the nasdaq is that special lows. stocks have been dragged down lower by google's lower results. it is way by material land industrials but financials are up, given the 10 year yield is a touch below 3%, which it topped earlier this morning for the first time since 2014. david: we want to get headlines from mark crumpton. treasury secretary steven mnuchin will be for china within the next few days for negotiations with officials over u.s. trade disputes. president trump confirmed to visit today with the french president. mr. trump says if they cannot find common ground, then his proposal for chinese goods will go into effect. the trip for china will be secretary mnuchin's first as u.s. secretary of treasury. the northern rebels held province could become the country's newest humanitarian
crisis area. today, along with the foreign-policy chief, he spoke. challenge.ig new 2.5 million people, and you will not believe that all of them are terrorists, of course, their women, children, civilians. making that it would be sure it does not become the new -- the dimensions are completely different. mark: the syrian that serve the toy for human rights says 177,000 people fled combat in the area -- the syrian service for human rights says 177,000 people fled combat in the area. faulty classroom designs and police radio systems contributed to the chaos in a high school. the broward sheriff's office
commission today that teachers could not block the classroom doors from the inside during the february 14 shooting. the broward sheriff's radios were not on the same channel as coral springs police, the two primary agencies that was -- that two primary agencies that responded. --ompany for the first time bill cosby locked into a courthouse this morning ahead of closing arguments. his why has been absent from the courtroom as prosecutors called a series of women to the that hertestify husband drugged and sexually assaulted them. giveury is expected to their news, soon. i am mark crumpton. this is bloomberg. shery: thank you.
the imf and world bank held their spring meetings in washington last week and had kind words for egypt. world bank -- the world bank president lauded their economic reform efforts, while christine lagarde said the economy was heading in the right direction. for more on the economic ,fforts, we offer sahar nasr thank you for coming into the studios today. sahar: tliv are inviting me. shery: we have a book of inflows into agents, concentrating on oil and gas. will we see more deyverson for inflows -- diversified inflows? sahar: indeed. up andiness is picking private investments have increased by 47%. you are very accurate. a large bulk comes from gas and
oil. however, the investment low has provided us incentive to attract more investment and diversified sectors, creating jobs at inclusive growth. shery: the economic reform in egypt has focused on the.fiscal and monetary side of things are we going to see more impetus cutting cutting regulatory red tape and improving the business environments? sahar: we started first with strengthening macroeconomic fund defenses, the prerequisite for any founders and economy. very true. it started with major systems. with thewe moved structure adjustment, including cutting down red tape, and investment low has put a lot of assurance and guarantees and
established an investment service center that does that. the number of steps has significantly dropped. procedures have been streamlined, and that is reflected, as you indicated, in the ratings at the world bank. david: as you travel the world as minister and talk to international partners or perspective partners about investing in egypt, what is the biggest draw and obstacle? sahar: good question. stimulus here is egypt is a huge market. there is a young population and a lot of skilled labor force. the cost of doing business is competitive compared to other emerging economies. now we have an investment low and company low end bankruptcy low, so the great work is conducive and has a match.
-- and has an edge. i see that reflected in numbers. i look at the numbers of new companies established. it has increased by 40%. a significant increase. question, to shery's it is creating jobs. we are aiming for quality investment to create inclusive goals. david: in recent years, egypt has gone through turmoil and there has been concern of security and stability. area wasour tourist hit hard. can you ensure investors coming in? sahar: let's reflect on egypt before 2015 and where we are today. we have gone a long way. we have turned it around in many ways, not just macroeconomic reform and structure adjustment, but we have also made it easier
to do business. stability, politically, and social stability. it is a vote of confidence on the egyptian people. important, it is this space, program and divisions and the ground vision that is in the country. with adverseeforms implication on some segments of society, nevertheless, we make sure we package it in the right social space. to ane it to take us economic framework. shery: what about the stability of the region? egypt is still part of the saudi led coalition that is isolating them. how much will that play into foreign investors looking at egypt and thinking the area might not be
good for their investments? sahar: what is happening in the region has in a way attracted more investments into it. it is a safe haven. we see a lot of interest from countries coming in and north africa, and of course, as i look globally, because we are at the investments from the u.s. here, so we see what is happening in the region. it is not at all having any implication on the economic situation in egypt. let's look at the economic outlook announce that the imf meeting. the main economic outlook, which highlights the rebound in the economic situation in our region and highlights with egypt and europe that we are the main driving force for this increasing globe. i see it in a way that the region is picking up overall in terms of growth, and egypt is a
driving force. david: one thing specific to egypt, the situation of sinai, how big a problem is that for the egyptian government? to what extent are you cooperating with israel? one of the remarkable things in the region is the enduring relationship between egypt and israel. approach onest fighting terrorism or extremism and investing in human capital and this is exactly what we are doing currently in sinai. there is a lot of cleaning up. there is a lot of investment coming in, whether from the public side or infrastructure, they have services and establishing investments to create jobs. globally, the best way to fight ' is throughs
development and that is israel approach -- extremism is through development and that is israel's approach. that is what we are doing in sinai and we are putting a package now of development jointly, as well as the world bank taking up what is lagging. david: thank you. sahar nasr, egypt's foreign minister of investment, great to have you. shery: great to be here with you, thank you. we are waiting on a news conference from president trump president.nch let's go to kevin cirilli used room of the white house. this is taking a bit to get started. what is the latest? kevin: president trump over an hour ago colleen it "-- calling it "insane and ridiculous," as the french president was sitting next to him, the key difference between the leaders ahead of may
12 deadline that president trump articulated is when they would like to try to negotiate a better deal with iran. we should note that iranian exports have increased over the last couple of years by 375%. clearly, europeans have an ion erade in iran region -- nan ey on trade in the iran region. david: are they going to agree out?sagree when they come kevin: president macron will address a joint congress and make remarks, obviously, the issue of iran on their mind but we should note president trump did consult with president macron and theresa may before just over a week ago but the missiles strike in syria against the assad regime. this is one area of common interest between the leaders, despite differing political constituencies to represent.
last year in july on the steel day, when president trump was with president macron, president macron said "some day one, we have seen i tie on terrorism and issues related to that," so on the issue of iran, these are far syria andticularly on other issues, they are looking to work together. shery: what about seeing eye to eye on the trade of steel and aluminum terrace x -- tariffs expected may 1? billion in exports from the u.s. to france, quite candidly, $1.6 billion trade surplus from last year alone, and more than one billion daily transactional dollars between the u.s. and france. from the french perspective, they want to see exceptions regarding trade and aluminum
steel tariffs made permanent. right now, we are not sure if they will get as much. within the last hours, they had been monitoring steven mnuchin. heording to president trump, will be traveling to china within a few days. shery: thank you. we are going to bring in charles litchfield of eurasia group to talk through the summit. charles, tliv for sticking around. mac -- thank you for sticking around. how much of a win could the summit be for president macron at home? charles: the french like to see their president at the center of affairs. there is a flight risk because trump is so unpopular in france, --t macron is his iswill suggest that macron
taking these issues and standing up for france's values, so this could be a net positive for him. i'm not sure those striking france will be that interested. in fact, the strikes are due to last into june. those striking feel strongly about what they are protesting against, a number of reforms to french labor law and benefits, and specific changes to the public sector railway company. i do not think that his success in the u.s. will help him deflate the strikes. but theit will last, service of the railway will increase on strike days. david: we are told we are over a minute away from the news conference. at the end, what is the best thing you think we could expect out of this? charles: in the space of an hour, it will be difficult to convince president trump that the iran deal is worth sticking to.
if he does, it will come with very strong additional constraints on iran. put then has managed to european position to president trump that he could be satisfied with, that would be a huge success and memorable breakthrough. i think it is unlikely for that reason. what is reasonable is a strong commitment from trump to support the u.n. on trade, not to slotback tariffs on the eu, not to cancel its exemption. that would be a moderate success. shery: what do europeans think of cia director mike pompeo, who is expected to be confirmed as secretary of state? charles: if i may slightly change the question. strong europeans have a opinion of john bolton, the new national security who they remember as a bombastic ambassador to the u.n., someone
who is not well regarded in europe. on upon, i don't think there is much of an opinion on him in europe. people do not associate him with alton -- david: at the beginning, there seem to be relationships with nato in europe. right now, whether they agree or not, do they see this as a reliable partner? charles: i do not think the european can rely on the u.s. as much as they did. i think it is structural. they came before trump. -- it came before trump. trump makes it -- the u.s. much actor.predictable as an you have seen europe try to bolster their own economy in matters of defense, but they are a long way off. shery: we just saw the first lady of the united states and entered the room of the
cabinet. --isters are now sedated ministers are now seated and we are waiting for president trump and president macron to start their news conference. this is mr. macron's first state visit. let's listen in to the president of france and the united states during president macron's first state visit. president trump: melania and i are truly honored to welcome french president macron and mrs. macron to the white house. it is an honor. we are thrilled the first official state visit of my presidency is not only with a great friend but with a leader of america's oldest ally, the republic of france. today, in our nation's capital, the stars and stripes proudly
fly alongside the tricolored flag as a symbol of the world and to the world of unity, fraternity, and friendship, that forever links are nations together. 40 years after the end of our war of independence, the great general lafayette traveled to george washington's home at mount vernon to visit the grave of the father of our country, president mccrone, we are deeply moved that nearly two centuries we are deeplyn, moved that nearly two centuries later, the president of france made that same tribute last night. melania and ier, had a great visit with you to celebrate bastille day. we were awed by the beauty -- we
were all in by the beauty of your country and hospitality of your people. together, we commemorated the 100th anniversary of america's entry into the first world war. we remember the french and american patriot to shed their blood together in defense of civilization. echooble sacrifice will through time forever, and immortal tribute to our people and our freedom. during the horror of the first during chemical warfare, in the aftermath of that horror, civilized nations came together to van chemical weapons. two weeks ago, following syrian al-assad --h are assad's use of chemical weapons
against his own people, united kingdom, france, and united states came together to strike their chemical program. there were designed to establish a strong deterrent against the use of these heinous weapons. thank youmacron, i for your leadership in the supper. it was -- in this effort. it was a well executed effort at .hat area and at -- at that i think the members of the french military for their courage and great skill. the united states and france are also cooperating to prevent the proliferation of nuclear weapons . we are grateful for france's key partnership in our campaign of maximum pressure on the north korean regime. as you know, i will soon be meeting with kim jong-un.
peace,eek a future of harmony, and security for the whole korean peninsula, and in fact, for the whole world. however, in pursuit of peace, we will not repeat the mistakes of past administrations. the campaign of maximum pressure .ill continue france and the united states also agree that iran cannot be allowed to develop a nuclear weapon. and that regime must end its support of terrorism. all over. no matter where you go in the middle east. you see the fingerprints of iran behind problems. i also want to thank president macron for france's contribution to our very successful campaign against isis. as we drive these isis killers from syria, it is essential that
the responsible nations of the middle east step up their own contributions to prevent iran from prospering off of the success of our anti-isis effort. very rich countries are in the middle east. they have to make major contributions. they have not been doing it as they should. a major topic that we discussed a little while ago. they have to step up tremendously, not a little bit, but tremendously their financial effort. mr. president, on behalf of the american people, i express our solidarity in the wake of the terrorist attack in southern france last month. i shared the confidence to memorial service that in time we will achieve the ultimate triumph of right and
justice. in the fight against terrorism, we both know that we must be strong from within to defend ourselves from threats outside. we will do what we must to protect our countries. ally, and youdest are truly one of our great allies, and we appreciate it. we will always be there for you. both the united states and france are dealing with a on for a that has gone long, long time. uncontrolled migration. in the united states, we are taking strong action to regain control over our borders and over our sovereignty. it has gone on for too long. and we have slowed it down substantially. but we are going to stop illegal
immigration. i know that you face similar challenges in france, and mr. president, i admire the leadership you have shown in addressing them in a very honest and direct fashion. and not always popular. owe muchur elections of the success to the desire of every day citizens to be heard, to be listened to, and to have control over their own nations and their own futures. let us demonstrate through our partnership that the voice of the people will always reign at all times. during our meetings today, we discussed the robust economic relationship between our countries.
the united states is setting records in business and we will continue, and i know that france will be setting records very soon. we look forward to exploring increased opportunities for bilateral trade and investment based on the principle of fairness and importantly, reciprocity. mr. president, tliv are accepting our invitation to the white house. it has been an honor -- thank you for accepting our invitation to the white house. it has been an honor. it is sustained by our people's love of their history, culture, and liberty. for two centuries, the alliance between france and the united states has been the cornerstone of freedom. now, the strength of this mighty alliance is in our hands, linked together by fate and destiny. i'm confidence our future has
never, ever looked brighter. thank you, mr. president. president macron: thank you, mr. president. thank you to you and the first lady for your warm welcome. please allow me to tell you how pleased we are together with the whole of the french delegation. we are pleased to be a guest for three days. after this visit and honor you made by attending bastille day in paris. in both speeches earlier today, bondserred to the deep between our countries. these go back to the founding
revolution of your country and have been true through both of our histories. bonds are based upon our deep attachments to freedom and peace. each time they have been threatened, we stood by one another. celebrated last night before this, by going to mount vernon, given that no one else could illustrate as well as george washington the commitment and bond between our two countries. , please allow me to go back to a number of issues, which are fundamental for not only our relationship up beyond. first, iran. you said once again in front of the press what your position was
during the campaign, as well as the president of the united states. not a mystery. we did not have the same starting positions, stances, and neither you nor i have a habit of changing stances are going with the wind. that being said, i can say that we have had a very frank discussion on back, just the two of us. you consider that the iranian deal, the one negotiated in 2015 with iran, is a bad deal. for a number of months, i have been saying this was not sufficient deal but it enabled it until 2025 to have some control over their nuclear activities. wish for now to work on a new deal with iran.
need, and i believe that on that, our discussions allowed us to shed light on the convergence is that we need to cover four topics. to block nuclear activity of iran until 2025. this was feasible thanks to the agreements. the second is to make sure there is no iranian nuclear activity. the third, to be able to put an end to the ballista goal activities -- ballistic activities in iran. the fourth one is to generate politicalions for thetion to contain iran in region, yemen, iraq, and lebanon. i cannottopics, change. i constantly said we needed to
find the framework so that ofether and with the paris the region and with the iranian leaders, managed to find a deal. therefore, i would like us to commit to that effect in the weeks and months -- weeks and months to come. this is the only way to bring about stability. france is not naive when it comes to iran. we have also a lot of respect whiche iranian people, through their history, its history has always shown its trends, but we try not to repeat the mistakes of the past. each time we tried to unilaterally replace the sovereignty of people, we brought about
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