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tv   Street Signs  CNBC  September 27, 2021 4:00am-5:00am EDT

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um... you'll figure something out. (quirky music) jay... ♪ the spd because they want the change of government and want the name of the next chancellor to be olaf scholz. >> a warm welcome to our special coverage from berlin what can we tell you the result at this stage still very close we have the official preliminary results that suggests that the spd is likely in the lead to form the next coalition
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government to run europe's largest economy, but the leader of the cdu csu not quite giving up yet at this stage although armin laschet has admitted disappointment at the block's worst showing since 1949 but he has vowed the race is still not over. >> translator: we'll do everything we can to form a government under the union's leadership because germany leads a leader for the future that modernizes our country. >> so the green and the liberal party, the fdp are clearly the king makers in these upcoming negotiations the coalition talks are about to start. paving the way for the first three-party coalition here in germany since the 1950s. >> translator: this federal election gives the fdp a special responsibility we do not
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underestimate the challenges >> translator: we have a mandate not only for future generations but you can sense this country needs renewal. evergrande's unit tumbles in hong kong. while investors look ahead to another bond payment deadline on wednesday. and the uk considers calling in the army to deliver fuel. bp saying one in three of its stations has run out ♪ well, a very happy monday morning to everybody tuned in now. the main p event over the weekend, and over the last 24 hours, is to do with these ger man elections. germany is on track for its
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first tri-party coalition for the first time ever. both fell well short of the majority the country is set for prolonged coalition talks with the greens and the probusiness ftps set to be king makers in any government it's the cdu's worst election since world war ii after angela merkel steps down after 16 years in power. >> the leaders in both parties claimed victory and a mandate to form a government. >> translator: we have at this time no certain end results. no certain numbers but we can say we can't be satisfied with the result still, the result of this election is as of yet completely unclear. >> translator: the spd gets supports from its citizen and that's a mandate to make sure everything discussed in the election campaign will be implemented and we'll make a
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strong political case for it. >> let's look at how european markets are fairing. all eyes, up .9% nice early reaction in trading up about 135 points but, of course, as we've been talking about and as we've discussed on the show, it is going to take some time before we figure out the exact configuration of the next coalition government let's get out to jeff who's leading the coverage from berlin, over the course of the weekend. and let me just start this off by saying, jeff, that is this not, in many ways, a rejection of the extremes when it comes to the voting electorate. we saw a very strong representation for the center right and center left and perhaps some dwindling support for the far left and right parties as well? >> absolutely. i think you make a very good point.
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it's one of the few certainties that i think we can take away here, that either of the wings have really been rejected. we have a very centrist approach ultimately going forward a lot will depend, obviously, on the makeup of the coalition that then governs and who ultimately becomes chancellor, i think we've done a good job off the top of the program already explaining to any of our new viewers outside of germany how complex the situation is at this stage and how there are still a number of alternatives that could be viable. just briefly recapping those, the grand coalition that's been a lot talked about between the cdu and spd really doesn't look like a flyer at this stage we've talked to a lot of party officials over the last three or four hours who continue to say that's not the direction we want to go in which leaves us with the spd,
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the greens and the liberals or the cdu, the greens and the liberals and obviously at this stage, the subpoenaed, greens and liberals looks more likely, since they seem to be edging the win at this stage as far as we can see, at this point it does look as though that could be the potential move forward. it means there are still so many policy issues that are unresolved like what happens to the pledges around raising taxes at the income level on the wealthy, on corporate. many of those things may get traded away in negotiations. >> exactly that might be the case and it depends on what those two king maker parties, which we are calling them here, the liberals and the greens, are actually going to do. especially the greens had much higher aspirations than they finally managed to achieve in the polls. now and the key question is
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whether annalina will survive that level of approval rating from the general public because clearly she wanted to have something different. and also the liberals, they were -- they saw increases, but not at a level which they also were hoping at but still they're the two king maker parties and a lot of that will depend on how much they get their point across, especially the liberals they didn't want to have any tax increases. and now looking at the very vo vocal spd wants to have higher taxes for the wealthy in order to finance all of these expenditures going forward it'll be tricky going forward. i caught up with the chief of the liberals yesterday night and asked him how long he thinks those coalition holds will actually last. >> one good aspect of the
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outcome is a left coalition, including the far left links is probably -- has probably no majority so that facilitates things a lot, i think, and it's a good outcome also for the international community because we can grant whatever the outcome of the coalition talks will be, it will be a coalition of partners who are pro nato, pro european union, and this is, i think, a positive aspect which is already granted and the rest, all the other aspects will be discussed, will be negotiated. and this may last weeks or even months. >> in any case we work with the king maker of the two social governments, how do you feel about that >> we feel this is special for the free democrats and indeed any government will require that we approve it, we will be part of it, and we, of course, we are
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looking forward to influencing german politics the way our country is from government, but at the same time, we know that the chall leenges are enormous during the last term of angela merkel many things have not been solved that should have been solved already so we will face enormous pressure, challenges and do a lot to bring germany back on track. >> let's bring in holga. nice to see you. is this the result that wealthy germans can feel comfortable with >> i think this is the result that all of germany can feel comfortable with the risk of a red/green alliance, that would have impaired trend growth with regulations and tax hikes, that has been taken off the table of course, the situation is now complex. we have two potential coalitions
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that would each have a majority, but in a way it's also simple. between the two coalitions that are possible, the faces would differ very much but not the policies the liberals will, win way or the other, insist no major tax hikes, the greens will insist we are going greener. so in the details the optics may matter but in a market sense i would say they don't matter that much. >> we talked about the legacy of angela merkel, but maybe the negatives have been the lack of consistent investment in public facilities, infrastructure, the internet, bigger commitments for that energy transition program is it going to change under either of these potential coalitions you describe? >> yes, germany should have invested more into these areas in the past, but having said that, the really problem has not been the lack of money
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german public spending as, for instance, gone up much faster over than of the uk. the rear problem are the lengthy proceedings for many of the projects and that's where i hope that the liberals, especially, will insist on streamlining that part of bureaucracy, and result we would probably, under both coalitions, see more investment that is implemented rather than just budgeted. >> what does the whole thing mean now for europe and the approach to the role germany has played traditionally on the angela merkel as the leader among european countries would you say that we're now giving that job to france or another country? >> no, i don't really think so germany remains the financial anchor of the euro it remains by far the strongest economy in europe. so unless a german leader, whoever it is, would sort of
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voluntarily take a backseat he will play a major role in europe i do not expect a major change in german policies versus europe the german constitution, for instance, would prevent a major relaxation of european physical rules but as the domestic rules there is room for tinkering and i think after the election germany will spearhead another fishive to complete banking union in europe without softening the position very much. >> would you say the liberals would be a deal breaker if we are talking about technicalities but that's an important one for the capital market union. >> that's a big thing and the liberals, if you take it at face value, could be the deal breaker of german move in that direction, a soft evening of the german position.
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but there need to be comp mizes, the key compromises would be the liberals get their demand, no serious tax hikes. and in other areas, for instance let's spend a bit more and probably on europe they would have to yield in the compromises. >> where does that leave us on the debt break what you're describing is a situation where there's no more revenue coming in, but there is more expenditure, which ultimately means that we have to see germany abandon balanced budget, doesn't it >> first of all, revenues coming in is not a matter of raising taxes on the wealthy it's a matter of creating jobs and the german jobs machine is humming and we will likely, with a business spearheaded approach, keep coming. and in terms of expen diture, even the liberals will agree yes, the debt is there, and stays there, but find a fund, some vehicle to fund further
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investment without officially breaking or discarding the constitutional debt break. >> the other issue that always sits up there as an existential fear for germans is inflation. we're having some experience in the numbers of trends suggesting that's going to be a little higher for longer here is that an environment where the germans are going to be willing to spend more? >> probably yes. first of all, by the time this coalition may be concluded, we may be talking sort of christmas and early next year or by the time it actually starts to implement its policies, inflation is likely to be significantly lower again or at least receding, so i don't think this will be inflation issue is a bit of a red herring, this will not be a dominant issue next year. we have to see which of the two coalition options is the one that comes to pass, but in terms of overall policies don't expect a major shift.
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>> let me ask you about real estate because that was one of the pledges from the subpopd as well, to keep a cap on rent or rein in the price increases. we have seen in berlin the vote on exprop rations, real estate companies, even if it's not legally binding, but what is happening here >> german rents are a problem, but everybody in london could attest to that, that's a problem in many metropolitan areas what is likely to happen is the fdp agrees to sort of continue a mild form of rent control. maybe a tiny little sharper here and there, but that much of the policies are aimed at giving more money to low income people in high rent hot spots to make them able to bear the high rents and also to speed up procedures to build more units so that that way the shortage could be eased.
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so there's room for compromise here and compromise will be struck >> the situation with the euro, how supportive or otherwise do you see this transition through the negotiations as being for the euro is there anything there for investors or speculators as we watch maybe the ebb and flow of talks running up to the end of the year >> i do think we have a few sector themes like the precise details on real estate to discuss. there will be others, the impact on certain industries going greener. but for the overall future of the country, which is priced in the currency, in the euro. i don't think there's a significant difference between the options and stalemate at the moment that this will be a major move of the currency i'm afraid every pronouncement by mr. powell from the fed will have a bigger impact on the currency than any announcement from berlin we do have or do not
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have a government. >> we will keep an eye on that, nice to see you. thanks for joining us. back to you. >> excellent nice to hear an economist's perspective. for more analysis check out coming up on the show. uk drivers panic as fuel stations run dry and the government mulls calling in the troopso lpasth the ee e situation.
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let's check in on markets. we are off to a strong start here in europe this week as you can see, green across the board despite a mixed handover from asia. from a political perspective no doubt european investors are digesting the german election results, according to the provisional results anyway, with the outcome suggesting reduced chances of the left wing coalition gaining power. the dax outperforming up about 0.8% the banks, deutsch bank and
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commerce bank both trading higher commerce up 1.4%, deutsch shares up 1.3%. and deutsch bank's group chief economist came out with a note on their view of the implied election results saying the challenge for the government will be a dual one, defining germany's new international role and striking the right balance between a strong and guiding state. that was a good summary i i thought about the way some economists are thinking about the challenges for germany moving forward the european sectors and how the trade is faring, oil and gas up 1.9% real estate up 1.1%. autos up about 1% as well. on the down side seeing weakness in basic resources but overall the down side seems fairly contained at this stage. >> let's talk about oil and gas. bp is warning 30% of its british petrel stations have run out of
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fuel the shortage is exacerbated by panic buying the government has been forced to lift competition laws and allow firms to work together in a bid to ease the pressure look at ti brent the complex we are seeing a balance across all parts of the energy complex. this is the picture for brent. just shy of $80, ti also just shy of the $75 mark. it's not just a uk story, this is an international story with that huge bounce back in demand alongside some supply constraints and maintenance efforts going on that is boosting the oil market here turning back to the uk downing street could call in the help of the army to deliver fuel to petrol stations uk prime minister boris johnson is expected to meet with senior ministers today to discuss the supply disruptions and may consider triggering a contingency plan called
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operation excellent which would enlist the armed forces to relieve the shortages. happy to bring in a reporter from our sister channel sky. great to have you on cnbc today, isha lots of reports about the petrol stations being -- up to 90% having completely run out of fuel there is clearly some panic buying going on. what is the government going to do to help fix the situation >> yeah, definitely not a panic buying going on. the government's tried to reassure people it's fine, there is no fuel shortage. the problem comes with getting the fuel to the petrol stations, that's because of the lack of hgv drivers. two reasons behind that. firstly, due to the pandemic, less tests for hgv drivers to place but also result of brexit, the uk lost 14,000 eu drivers last year. i'm going to show you this station i'm at in west london.
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there are serious q&ueues behind me, it had a deliver about two hours ago and the queues are not stopped some of them are spilling over into the main road here despite the station running out of fuel last night, it didn't stop people from popping by during the night throughout the night people were arriving and seeing if they could get lucky and fill up, and they couldn't. some of these people waited for hours. we've spoken to people here who have gone to a number of other stations unable to fill up there, desperately trying to fill up their empty tanks before they head to work or out on the school run now the government has relaxed competition laws that means that firms, large firms, can work together now which usually is banned to try to get fuel to the areas that need it most desperately and also talks of getting the army involved as well but in the meantime it is a dire situation here >> indeed. and just by looking at the
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stream of cars queueing up and it's very early in the morning still. i can't imagine it's going to get better throughout the course of the day thank you for bringing us that report the thing about the way the government is dealing with this, they're looking for, at this point, short term plasters they're not looking to solve the problem fundamentally. obviously there is a demand for truck drivers. they're looking to relax some of the visa rules and requirements over the last few months but that's going to provide a short-term break with the potential drivers coming in from europe but says nothing about the long-term. this ultimately is a matter of storage capacity and a lack of foresight from prior governments as to how they would think about a situation like this when it does arise. >> the issue about the shortage of drivers, something we've seen across so many sectors i take your point about the
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short term versus the long term in terms of how the government is addressing this situation we talked about the impact of the shortage of drivers hitting so many parts of the economy, from supermarkets to the auto industry and now the petrol situation, something that touches everybody's lives and it is a scary situation. we've been talking in the studio throughout the morning about the impact it's had over the weekend with people unable to do what they wanted because they didn't have any gas in the cars it's something that's touching everybody's lives and i think the government is going to be -- a lot of people are trying to hold them to account. >> typically when somebody comes out and says don't panic we have it under control is the time where everyone starts rushing to the petrol stations and try to load up, that's what we saw over the weekend. there is a lot of panic buying taking place and there needs to be a swift resolution to this. it'll be interesting to see how the army are going to help and how quickly they can actually
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get fuel out to these gas stations as the sky reporter was saying, the easing of the competition laws is a positive step because it means for now some of the major energy suppliers can help one another. but again it's a short-term measure, not a long-term measure. let's turn back to a story that we were all watching very closely last week and that is evergrande shares of their electric car unit came under heavy pressure inhong kong. the company's ev business warned without a cash injection it faced an uncertain future. they missed a payment deadline on a dollar bond last week somewheri entering a 30-day grace period before going into default. for more on what a spd government could mean for germany going forward, do not miss our interview with daniella schwartzer
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>> translator: many citizens have voted for the spd because they want the change of
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government and the name of the next chancellor to be olaf scholz. >> welcome to our special coverage of the german election, a close run race with both parties making claims to europe's largest economy your headlines preliminary results put the spd ahead narrowly with laschet vowing the race is not over. >> translator: we'll do everything we can to form a government under the union's leadership because germany needs a coalition for the future that modernizes our counted. >> the greens and the liberal free democrats become king makers as germany faces the prospect of its first three-waco a ligs since the 1950s. >> translator: we do not under estimate the challenges. >> translator: we have a mandate not only for future generations but you can sense this country
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needs renewal. evergrande's ev unit calls for cash while vaeinvestors loot another payment deadline. the uk considers calling in the army as panic buying leaves fuel stations dry. bp saying one in three of its stations has run out u.s. president joe biden has c complimented the spd calling it, quote, solid when he was told the party was projected to win the election in europe, they hailed on laugh schultz and the party. the block is waiting to hear from french president emmanuel macron who may look to take up the manual of de facto leader of
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the union following merkel's exit but european leaders are yet to react because we don't have a pure coalition formed yet. but charlotte joins us with what to expect next for many of the european leaders olaf scholz is a familiar face because he's been the finance leader for several years. >> reporter: that's right. they know these people, one is merkel the other is the current finance minister so don't expect massive policy change they know they can work with them there's no official reaction just yet from the french presidency to the result they're watching closely, the french/germany relationship is very important both mr. scholz and lemar has
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been in france in the last moments. mr. macron and mr. merkel, in terms of age and style, one being impatient, the other prudent. it was a particularly strong relationship and it all culminated in the covid recovery fund both proposed in may 2020 for both countries the macron, duo, paris is confident they can work closely and easily with the next chancellor but it could be an opportunity for france to be more influential within the eu block now that merkel, the leading leader in the block, is leaving and can be for france increasing also remember that france has the eu rotating presidency from january. so maybe the chance to push for more autonomy and independence
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is at the core of macron's policy, that can be an opportunity for macron himself, he is facing a vote in april 2022 to be again voted for president. so that could be also an opportunity for him to raise his profile on the european scene. so now no matter what happens we know that france and germany don't decide everything within the eu, of course, but these two countries need to be on the same page for things to move forward and the scenarios on the table could show this could be on the page, guys >> charlotte, thanks for bringing us the overview of how the leaders are thinking about this let's get back to jeff and annette. what's interesting about the campaign is the question of europe didn't feature that much into sunday. i just wonder if that tells you about how these future governments are thinking about things and their focus is
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primarily going to be on transitioning the domestic economy rather than looking outward. >> let's get into that straight away thank you for the question we have with us professor doctor d daniella schwartz, executive director for europe and asia nice to have you with us daniella the question from london was about germany's position now with the eu and europe more broadly. i guess we should focus on that, because it was a lot of attention to domestic issues and the domestic economy but does the outcome of the election suggest that a new coalition government and a new chancellor assuming that, olaf sc scholz, takes a more robust position, and drives forward the
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integration process. >> well, olaf scholz would be quite a lot of continuity because as finance minister and vice chancellor, he's been around in an important position and one of the achoievements th last two years was the development of the recovery fund which was a tool to get the eu through a dire economic situation. it's not only recovering in the sense of going back to what used to be but it's really money that's supposed to be spent on transition, energy, climate, transformation of the economy, investment we need in the field of digital so there's this talk so if chancellor scholz will get the national backing to make this into a more permanent instrument and the german government has said exceptional times, exceptional measures and the
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chancellor did that to get her own party behind the initiative. scholz was saying, this is a smart tool, we may look at it, develop it further and this was a first important step. >> we think of the fdp as a party of restraint when it comes to excessive spending. would they not be a break on any desire to loosen the growth and stability pact conditions or indeed to make that one-off move, that money raising perhaps the standard of further money raising for investment to go forward, will the fdp be a problem? >> the fdp will be the most restrictive party and if possible, social democrat led government with the greens and the liberals and so, it means that it's very important to separate two debates, which were both in your question one is the reform of the fiscal
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rulesframework that the aeuro zone has with the growth pact, which serves to control governments, they don't spend too much, reduce public debt and this framework is under enormous strain and there are a number of countries raising that question as well. whether this does need more fundamental reform and that's where the fdp will be watching very closely that germany doesn't commit to a major change of the setup in the monetary union because the german interest has always been with a unified monetary policy to keep an eye on national debt and deficits because otherwise you create a problem from that perspective. the other thing is would the liberals agree to smart tools to encourage investment across the eu that's where you have to look at the liberals as a party close to business that has positioned itself as the innovator, as the party that stands against the cdu when it comes to their tract
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record on investment and germany has a bad track record in investment the covid crisis showed so clearly, schools weren't on the internet, they didn't have the ability to teach online, so everyone in germany today knows we need investment the major task for the german government if it wants to hold the eu 27 together, which is in my view the underlying rational of any consecutive government that may follow because we need the single market, can't afford a breaking apart that has to be an approach that thinks about the whole eu, you can't just focus on the major leading countries. >> we need a single market to be a meaningful power house in the global context, right. looking at the united states and china. so how will a future government -- we're supposing now it will be spd led will sort of position itself between those two big power houses
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>> a lot has moved on the german debate on china, even under an angela merkel and the big debate was the 5g debate, even her own colleagues and party, for instance, the chairman of the foreign affairs committee, he said we have to be super careful. we can't just buy chinese technology we have to be aware of the risks so there has been a fundamental rethink about china presenting risk and not only a business opportunity, which it definitely still is for germany look at our mutual investment ties, look at the trade that goes both ways between germany and china and the eu and china, it is an important business partner for germany. a new coalition coming in particular if the greens are part of it, with regards to china would definitely put a stronger emphasis on human rights on standards with regards to technology so as seeing digitization as a
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possible threat to democracy where regulation has to be put in place that actually protects citizens but also democratic process. and then, obviously, the climate agenda they would want to link to the power of the single market through trade policy. now the u.s. is interesting to look at from the social democrat perspective, compared to the christian democrats, the social democrats have been more u.s. critical so the question is whether the transatlantic partners can align on a strategy that's about western liberal democracy. where the eu is not forced to just adopt american standards but can have this role of being a true partner, which means we need to invest more in ourselves in defense, technological development and so on. but i think the fundamental recognition is we need each other. the u.s. needs us, we need the u.s. more. but it's about defining a joint
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strategy and the social democrats within that party have a strong group of quite critical american people. but they need to be convinced that the transatlantic alliance is something that we, at this point, urgently need as we see the fragility in the u.s. system, more do we need to think together on the systemic issues with china, how we can play a bigger role. >> will germany keep its leading role in europe >> angela merkel was a long-time leader of europe so her 16 years in the european council, which brings together the heads of state and government definitely also was, you know, possible because of her huge experience, her long-term standing, the recognition of her way of managing things. if olaf scholz becomes chancellor he'll have a chance
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because of his finance minister role however there will be a new person with less experience. so we may see a few months in particular given the french election next spring, where things may be less smooth than they usually would be but it's important that any new german government puts the focus on german cooperation, given their eu presidency starting next year, january 1st. the g7 presidency also starting on january 1st and think about what the european agenda can be under the current conditions which is a volatile international environment. tensions within the eu but a very, very strong need to increase europe's capacity to act. >> doctor, thank you so much for joining us good to hear from you. daniella joining us, of course, from the open society foundations. back to you from berlin at this
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point. >> thank you for bringing us that interview, guys we're going to take a quick break now but coming up on the show, more out of berlin, coalition talks could start as early as today with the greens set to form a pivotal lero we'll talk to con stan tin next.
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germany is on track for its first tri-party coalition since the 1950s. social democrats edged out the ruling christian democrats party but both fell short of a majority, according to the latest results the country is set for prolonged coalition talks with the greens and the pro-business fdps set to be king makers in any government as incumbent chancellor angela merkel steps down after 16 years in power the results open up a string of potential coalition governments. the spd could launch a traffic light alliance with the yellow liberal fdp and the greens while the black cdu could form a
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jamaica coalition with the greens and fdp talks could start today with the fdp leader suggesting they could start in talks jeff and annette are live on the ground in berlin let's get out to them now and talk about the potential role of the greens in the government who did perform quite well getting nearly 15% of the vote >> yeah. it's very interesting that you were making the point there about what role christian l lindner might play because in reality of all the parties being discussed in that makeup, the fdp got the lowest vote share. but he, obviously, feels that he's in a position now to talk about talking, which is very
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interesting, because you would expect maybe the spd or the cdu to be initiating but actually, it's the two slightly smaller party votes the greens and the fdp that seem to be making the early running, which is quite interesting >> it's interesting how confident christian lindner actually is. for all on the ground they know that christian lindner's ego is quite big he wants to be the next finance minister, wants to be in the government, he doesn't want to make the same mistake as last time where they gdropped ou of a government role he wants to be the next finance minister, as i said, and he knows that nothing goes without him. that's why he directly asked
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yesterday during the prominent tv debate at 8:00 whether they should not start talking to each other first. >> yes we should explain that i don't think there are many other countries in the world that have an election and then they bring all of the party leaders back to have a debate and a discussion after the polling takes place. and this is a feature of the german election. >> yeah, that's a feature of the german election because in germany all is about parliamenty majorities it should be obvious that winning party, if they win by a huge margin, then they have a traditional ride to have the chancellory but with a tight margin, which this election is all about between the spd and the cdu, it's not entirely clear whether we are getting an
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spd-led government or whether armin laschet might make it into the chancellory. one thing is clear with laschet, he is either the next chancellor or nothing anymore afterwards, right? >> yeah. we should come back to the greens because they've played an interesting role here. >> yeah, exactly the green party is one of the king makers and we are now joined by konstantin von notz, a lawmaker with the green and expert on digital issues thank you for joining us. >> thank you so much for having me >> so just briefly, are you happy with the results >> well, i guess we didn't make our major goal to become the strongest party but as you say in german, the trees for us didn't grew into the sky but we made the best results the green
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party ever made in national elections. so we have a laughing and a little crying. >> when are you going to start to talk with the liberals? >> well, i guess that's something that we tested in state governments, in my hometown state where we talked that it's good idea that the two little, smaller parties talk to each other as well, and if you see the big cultural difference between the parties of the big coalition that were in charge in the last eight years and the green and the liberal party, we are the ones that want to change something to modern germany and that have really an agenda to
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bring the country forward and the status quo parties, cdu and spd, they have a different mindset. so it makes absolute sense that the liberals and the green party talk to each other >> which policies are you prepared to drop to be in coalition government would it be those on taxation? >> well, i can't, you know, have those kind of discussions now on television one day after the election but, of course, if you build coalitions, you have to move towards others and the liberals have to do that as well. we made the strongest result party ever made besides cdu and spd in national elections. so we come with a strong power to the table and our goals in fighting
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climate change, in defending democrats, those are top goals, and fighting for social equality, those are the things that we have to bring to the coalition table and i think we are strong in those debates. >> it's been a pleasure catching up with you. good to get your views representing the greens. and, of course, we all wait and watch to see how these negotiations ultimately shakedown. konstantin von notz, member of the greens let me send it back to you in the studio >> thank you so much for joining us and bringing us those interviews and your coverage on friday and today annette and jeff let's look at u.s. futures
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and how wall street is poised to open i think the big stories for markets last week was the higher move in bond yields overshadowing the ongoing evergrande story and this morning we are looking at s&p 500, dow jones and nasdaq all looking at a positive change dow jones looking at a 160 point rise at the open european markets, this is the picture about two hours into the trading session. green across the board with the exception of the health care market down just a touch and the german index outperforming up .9%. this thas e veget'thcora this morning of the german elections. "worldwide exchange" is up next.
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it is 5:00 a.m. in new york and here is your top five at 5:00 wall street trying to keep the rally going after a wild week of trading. futures are higher as the worst month for stocks is nearly in the regulatoar view mirror drama in d.c., lawmakers looking at a looming government shutdown and a possible $1.5 trillion infrastructure the clock is ticking on both. in germany, the votes are in, in what is one of the closest elections in history, two men both saying they can become head of


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