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tv   Business - News  Deutsche Welle  November 21, 2018 6:15pm-6:30pm CET

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it's great this fantastic i mean we're looking very very much forward fans may not share his enthusiasm yet guitar has four more years to prove the football world wrong. all right don't go anywhere here's what's coming up now that the european commission has rejected italy's latest draft budget what happens next ben we'll have that and all the latest business headlines for you coming right up and i'll see you at the top of the hour. frank food. international gateway to the best connection self in the road and rail . located in the heart of europe you are connected to the whole world. experience outstanding shopping and dining offers and trialling services. be allat guest at frankfurt airport city managed by from.
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history show the story of the first one even more told from different perspectives by peter crane from the eastern european perspective from the african perspective from the perspective to keep from the arab world. t w dot com slash w w one. of. the budget brawl between brussels of rome gets brutal the european commission ones italy could face legal action for overspending. yes when germany's dirty diesels end up let's just say it won't solve the problem of air pollution here once the wind blows in this direction. and how hyperinflation in venezuela has made meat a luxury item. and been physical and let's do business rome is insist.
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on higher deficit spending saying it's the only way to stimulate growth and bring down debt the e.u. says italy needs to rein in spending to cut debt european commission declaring today that the government is in breach of a huge balls of debt and inviting euro zone countries once more to examine its assessment in two weeks if they agree you know launch a special procedure that could result in fines. if push comes to shove and brussels begins an excessive deficit procedure. then italy could face a fine as high as three point five billion euros brussels is insisting the southern european country it hears to e.u. budget rules and it's turning up the pressure. to. keep. the. but so far italy is not changing course the government wants to deliver on campaign promises which include early retirement and increased spending on social services
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the problem is italy's debt as high as one hundred thirty percent of gross domestic product only greece has an even higher debt level e.u. regulations cap any country's debt at sixty percent of annual economic output financial markets are alarmed front pages warn of rising interest rates and banks are worried there are powerful players in any budget debate as they can close the spigot at any time and dry up the government spending on the streets the mood is tense. be the result of the think they were discussing this with the appropriate seriousness we should brace for the worst. i think we're on the wrong track the government's made promises that can't you kept and now we're moving in the wrong direction and you're right. on wednesday both the government statistics office and the o.e.c.d. lowered their growth outlook. meanwhile consumption is down as people hold onto
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their money as do companies who seem unwilling to make any new investments all that hampers growth leading to falling tax revenues higher taxes and in the end even higher debt. i asked our financial correspondent and that of blindspot how traders are reacting to this usedn't good scenario. investors actually keeping them despite the stand off with the european union. in the european union and italy there are hopes that italy will move at least a little bit of that in the end they'll get a deal done but even if nobbs it's a long way on so italy finally could. face the burden to pay. quite a high prattled see this could be up to or point five percent of their g.d.p. but according to analysts this is not going to happen before the european election
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meaning before may of this year so i guess this is why the market is not extremely nervous and we also don't really see a lot of signs that there might be a risk of contagion but clearly today the mood is quite positive from the market is this could change cried quickly in case investors start to worry about the huge tree financing need the italian economy is facing next year and as we mentioned before businesses are keeping a close eye on developments one area italy's been struggling to keep up with is the general innovation something it has in common with germany so could the two countries actually help each other catch up. they've come with a clear goal to boost digital infrastructure and promote innovation areas that both germany and italy are seem to be lagging behind in. the hope is that by fostering partnerships the two countries can benefit from each other's know how for example
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if we talk about the machinery germany is a very good large production he tele is very good in. i think that kind of. capacity of korea he was solution there soon. good process can now be you know eat every night of sector for example digital sector or italian business is dominated by small and medium sized enterprises while the government provides tax breaks for companies that focus on digital innovation getting a loan is often a struggle that's prompted many italian businesses to search for international partners especially amid an often rapidly changing political landscape we face in the. government so we are used to leave with a difficult political situation and companies dog this work very very good fantastic in. continuing their vision continue their investment continue their
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work without taking too much without scaring too much about what the political politicians are doing with a potentially volatile economic and political environment at home italian entrepreneurs are looking a brewer to countries including germany to realize their vision. the market for diesel cars in germany has hit the wall emissions scandal throwing the spotlight on air pollution more and more cities a batting dirty diesels for. the unwanted vehicles of finding a new home just east of here. diesels are highly popular in ukraine this folks satyrs just arrived from germany it meets euro five emission standards some mechanics take a close look at it they know it will need adapting to ukrainian standards within a few months at the latest that's when they'll have to remove its catalytic
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converter. at the catalytic converters in the particle filters often cause problems they get clogged up very quickly and stop working the diesel quality is too low here. without emissions control systems the diesels pump unfiltered toxic gases and particles straight into the air and because regular inspections for cars are not legally required in ukraine exhaust systems can be manipulated without fear of detection experienced mechanics can easily remove emissions control units and replace them with a section of straight pipe this one comes from a diesel if a converter is clogged up the vehicle won't start. we hook it up with a diagnostic computer the problem is very often a clogged up catalytic converter sometimes we cut the converter out sometimes we can repair it mancini's the. ukrainian city of lots has a population of two hundred forty thousand the air is foul and eighty two percent
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of the pollution comes from cars and trucks. there's an autumn our kids here twice a week trading mostly diesels private operators import the cars mostly from germany . diesels meeting older emission standards which are registered in poland or lithuania are treated as transit vehicles for up to a year only the later euro five standard cars are actually allowed to be imported. germany worries about the environment and that's why the price of diesel is falling . germany understands its people and spends a lot of money on environmental protection. vertically. throughout the city a number of stations are constantly measuring air quality. the results show that only two of the ukrainian cities have filled the air than here and now let's use filling up with substandard german diesels. diesels have become hard to sell in
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germany and now they're flooding into eastern european markets the germans have simply outsource their diesel emissions problem. as well as economic crisis continues to deepen and just today there is news again of corruption at a national level a former treasurer admitting to receiving a billion dollars in bribes that his regular venezuelans struggle to find the money to pay for food meat for example has become a luxury item that only a few can afford. the scene here appears. but these cows aren't grazing against the urban farmers is growing neighbors complain about the flies and have concerns about hygiene. i came to verify that what the neighbors were saying was true and it was at that time there were five cows i arrived at the site on monday and the complaints were from saturday so we think
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several of the cows there had already been slaughtered and the meat was being sold there without any type of refrigeration and without sanitary measures. food is a daily battle and. meat is particularly scarce the cows have come a long way to the capital. and they're being butchered here in the city where well to do families can afford to pay the high black market rates with the economic crisis deepening but. for as much as ten times the government's rate for beef for many venezuelans that's half a month's rent. the distributors sell to us at a high price. so we can't sell the meat at the government regulated price because we already. and we buy it because otherwise we have to close shop. we
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can have to close the business. the government of venezuela had long encouraged people to grow fruit and vegetables in the cities and even suggested rabbits to eat cows however were not part of the plan. business with you.
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found. entering the conflict zone and confronting the powerful. one about how to some awesome show the former leader of germany social democrats who challenged school last year for the chance to race and failed spectacularly why did this country trial and how does he react to criticism of his time as president of the european columns conflict so for. the. whole.
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continent is reinventing itself. as africa's tech scene discovers it's true potential. inventors entrepreneurs and high tech professionals talk about their visions successes and day to day business. it's. history in the everyone. is a mathematician. digital africa starts december twelfth w. technology digital events are transforming the. is he ready for. the second season of our documentary series. joining german founders. as me explore our future.
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starts november twenty fourth v.w. . whatever happened to martin schulz the former leader of germany's social democrats who challenged. last year for the chancery and failed spectacularly well he's my guest this week here in berlin why did his campaign fail and how does he react to criticism of his time as president of the european parliament.


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