tv Business - News Deutsche Welle January 17, 2018 2:15pm-2:31pm CET
oh we have to recognize that that threat is growing and if north korea is not does not choose the path was of engagement discussion to go shish and then they themselves will trigger an option that option is reported to be a preemptive strike on a weapons site in north korea china and russia did not attend the meeting they accuse the ministers of embracing a cold war mentality. then fizzling is up with this in one minute. meet the germans new and surprising aspects of life since culture in germany. us american keep take a look at germany just increasing use of their traditions every day lives and language can just come out of my lungs on assad so i'm. good.
liquor centric i d w dot com beat the germans. but dortmund leipzig the biggest favor team sleep got all the best goals we got all the action to dublin is the home of german football share the experience every match. the bond is legal every weekend here he told you. at the. e.u. backflips on its tax haven blacklist only a month out the naming and shaming over a dozen nations the european union prepares to delist. bitcoin takes another bashing cryptocurrency continues to fold in value over regulation fears and. what happens when
a german bank advises customers to invest their mistakes in global shipping and trade volumes suddenly plummet. i mean physical and let's do business tax havens a top of the e.u.'s agenda today but the bloc isn't writing up a list of havens it did that last month this month it's with laying down the list activists a shocked e.u. authorities argue this is progress at its best i'll explain seventeen countries were named and shamed on the list published back in december many of them was smaller islands in the caribbean in the pacific officials now expect remove eight of those countries next week after they've made new commitments to reform they include south korea one of the world's largest economies the united arab emirates one of the largest arab economies and panama long a haven for offshore accounts so is this
a breakthrough or is europe's campaign against tax havens breaking apart max haywood joins us now from transparency international in our brussels bureau good to see there max could you explain to me first of all what these new commitments are i actually i wish i could because it is quite unclear to us this whole process has been quite intern's front so from the very beginning when this blacklist was put together the criteria were not fully explained and the assessments by which countries were evaluated in order to decide who's on or off the list were also not clear from the very beginning so from a civil society perspective looking at it from the outside the public just doesn't have enough information to assess how these decisions are being made the whole process has been remarkably intern's found it sounds like the wrong approach from the e.u. i mean it's trying to get tax transparency on a list that's not transparent. absolutely and the thing is that there are better
ways of doing it than simply by new in practice where countries are either in or they're out for example what the e.u. could do is refer to various other measures of transparency that look at all countries and for example say we are going to look at an independent measure of the transparency of these countries and then take this isn't based on that rather than building their own criteria and their own assessments and they're not making them fully public this would help all of us journalists and civil society in the general public to make a fair assessment of these measures it's an interesting point you're making because basically what we're seeing here is the e.u. putting pressure on a number of small islands while. letting its own e.u. member states and other jurisdictions in europe. basically run free. absolutely there's been an independent assessment for example done by done by oxfam who looked at the use announce criteria and they found e.u.
countries like the netherlands like luxembourg that should have been on the e.u. is only just but once again this goes back to the lack of transparency around the process of building the list itself and the sad thing is that there are other measures that the e.u. could be taking for example around the transparency of multinational corporations which are slowly moving through different parts of the legislative process but not fast enough so in a way we could be focusing on other aspects of the sponsored genda much more effectively than this constant battle of lists which becomes political very fast now you tell me you don't know the actual details of these new commitments the tax reform that these countries are making to get them off the lists but you do know about the processes involved and how this sort of research is done explain to me how the e.u. can come up with a blacklist which is taking years i mean even to define what a tax haven is has been a huge process for the e.u.
but then just one month later the e.u. manages to cut this list list in half how is that possible. yes again this is just a function where these processes become inherently political when you have the same people trying to assess the criteria and then measure countries against that criteria and then make decisions ideally these processes would be links to independent ratings for example colleagues in the tax us this network a fellow in geo going to produce an index called the financial secrecy index is coming out at the end of january why not refer to that an independent assessment of the transparency of each country of about half the countries in the world that could be much more objective much easier to use to make these kind of decisions and decide who is or isn't a tax haven according to those criteria just really briefly what's this all doing to competition in europe. well this lack of transparency is definitely not good for competition because for example the lack of transparency around what
you know multinationals are doing in different countries the lack of information about different tax deals that are being made in a way undermine the common good of the european union as a collective so what we need is definitely more transparency measures that really move us forward well battles around very small groups of countries we need an approach that really does include much larger groups of countries and moves them together towards a higher standard max i would thank you very much for the you know this has to the cryptocurrency that's divided the financial world the big coin freefall continues analysts call it a bloodbath the virtual currency is six week low after a sixteen percent fall yesterday regulators a spooky investors a south korean financial policy maker has said banning trading in digital currencies is an option and china is preparing a new crackdown state media says beijing is planning to stamp out any remaining
trading there are also reports the e.u. is discussing a ban on virtual currency on his remaining anonymous when they convert crypto coins to euros. many finance pros believe because it is in a speculative bubble that burst any time it's pull in daniel corp our financial correspondent in frankfurt daniel what's behind europe's plans first of all. well if there are plans there really have to be at a very early stage we had a statement little bit earlier from one of the executive board members here of the bank in frankfurt saving gas there that they are wishing that there would be some sort of regulation but that regulation would only work with world wide corp we're also hearing that france is talking about this also the u.s. senate will have a meeting next month where they will be talking about the risk of cryptocurrency s. and you know we're just talking about bitcoin there are about one thousand crypto currencies in the world all of them would be very very difficult why is there so
much resistance coming from asia a very interesting well there are pretty much three reasons behind this the officer reason that's what they are saying that the trading with bitcoin is really demanding lots of energy off servers and also from computers south korea and china both countries with sometimes problems regarding to the stability of the electricity system then north korea is also an issue of south korea has been accusing north korea in the past kind of voiding international sanction with using the crypto currency and an investor was telling me well those are countries they are not used to have things in the business world that are not regulated and they are simply not liking that as well then you just say yes or no is this the crash everyone was predicting. what i would say yes
cryptocurrency girls saying that kalash crash would be even much bigger ok don't you call for us in frankfurt thank you. germany's h s h north bank survived the financial crisis thanks to a taxpayer payout that was a decade ago and a huge regulators one the bank sold to an investor now or liquidated h.s.h. is reportedly in talks with j.c. flowers and severus as potential buyers h.s.h. based on the german coast has close ties to the shipping companies which contributed to huge losses to its every day customers at its ultimate underway. and will for a drill tell us they simply trust that they have bank manager when they wanted to invest thirty thousand euros ten years ago their financial advisor recommended they put the money into two ships instead of more reliable government bonds he raved about growing world trade volumes. the
prospect of the risk was very limited as it was conveyed to worse with a secure unusual dividend made it lucrative. qatif what i do and i just wanted a good investment and the one with the ship sounded great to me and yeah it was a bit naive so it was. naive if he wasn't restricted to small investors many shipping companies also overestimated global trade volumes and boat ship after ship and just north bank financed their spree with generous loans it quickly grew from a provincial state bank lender into one of the world's largest shipping finances by two thousand and nine it had over three thousand chips on its books analysts say that was far too many. he has taught us probably many banks problem is that in the past it relied too much on only one segment financing ships and neglected other segments that kind of strategy means you can very quickly run into
phases of high risk fasten he nine that's exactly what happened the global financial crisis center volumes tumbling. too many ships vying for too little freight meant even establishments and companies could no longer service their debt the shipping companies are tight lipped about it all and specially with north banks still providing financial support to some of them because as the north bank is still a state bank financial institution its final garren tires are the taxpayers of the cold stein and humbard they face a potential deal of sixteen billion euros the rules didn't want to see their money go under with the ship's bonds they made a court claim that the bonds had been mis sold to them and won most of their money back. nice to business with you.
primary process biodiversity. the coral grows included in an interest in the last five months so we are having a little i.d.s. present thomson's from all over the world. traditionally a moment chad this is a dream of. music to make it it'll help ease pain. coccyx i live on the coast i feel it's my duty to protect the area and that's why i bring my students here and the lens alum anxious to name names from beijing. our strategy is based on the traditional lifestyle of the people as a way of preserving the environment for future generations out of. the global ideas on facebook and.
climate change. which took. pollution. isn't it time for good. eco africa people and projects that are changing no one farm and for the better it's up to us to make a difference he could. d.w. . so you're max great to have you on board today we put the spotlight on the following topics. in good form intelligent design on the kid to look it has been successful since the seventy's. on the borderline stone photographer stephan and