tv Venture Capital RT October 20, 2013 4:29am-4:46am EDT
welcome to branch out to watch this week of school see you as drama continues to play out the soap opera little concentrates on all the facts on the show you put in days or the maybe perhaps all the sick of it also going to get a call to take them to about the process i'm old and that is a course which looks like it's ready to stand in the you. according to your prime minister and they can say i will become a first year as an kaante to x. it's an international bailout mr kenny said that the era of the bailouts will be no more all off to announcing plans to withdrawal from the i.m.f. you support by the end of this year although mr kennedy did warn that the country's financial troubles on. so just turmoil you back in twenty ten ireland was forced to take an eighty five. i mean you're
a bit out of the country's biggest banks collapse but fast forward to twenty thirty and it's not just arlen's leda but is optimistic in july ratings agency standard and poor's upgraded island's credit outlook from stable to positive because the country's debts were falling faster than expected so let's get some analysis right now with irish economist david mcwilliams in dublin. so david good news for my own bed. well it started too soon arctic the good thing not least because existing b. i.m.f. e.u. troika bailout is regarded by the state or at least under ties and marketed by the state as being the sort of end of the crisis but. we will still be borrowing substantial amounts of money next year the growth rate of the economy hasn't increased in any material way i know typically exiting the bailout is only you only end up paying hedge funds by borrowing from pension funds because it means in
proper english and clear english so my my sense is that what we have is a situation whereby in the last three years the irish government how was the opportunity to change the growth potential of the country to address some internal problems that we have with respect to give those in vested interests a trade union movements but ultimately did nothing so you know good. to repeat a great expression the irish establishment never misses an opportunity to miss an opportunity and here's been one and so what we go we go back and issue bonds to. mention foams and to investors in london but it's hardly a sign of success what would you say that about the fact that island on the face of it looks to be in a much better stick to a send the like south pole it's a goal cyprus greece would say so what's ireland doing i mean it's a very very different economy to portugal or cyprus our greece in the sense that we
have some parts of the economy which are probably the most productive in europe if not most of the developed world so i don't think it's fair to compare us to the others and say we're doing well we might matrix for doing well i don't know what yours is as employment is income is immigration is the lives of ordinary people and the lives of ordinary people have been. totally affected negatively by the us to come. all of yours but what we find rather bizarre is that the bond market which is largely dancing to mr dirtbags tune as long as he promises to do whatever it takes to save the euro bond yields remain low all around up there for europe. they are trumpeting their great success we who live in the country have children the country of relations in the country work here see a very very different picture one where domestic demand is entirely flush one where people's incomes are falling our taxes are rising and one where all sorts of
what we would have regarded as normal normal social services are being cut so again you know if success is that my job servers teachers who are being forced let's say to work long hours in order to pay somebody in america who's managed to speculate on our bond market yeah but that doesn't seem to me to be success and certainly nothing scary excited about that my fellow no no i don't think cutting. comment amongst us and then you'll see what it's what the economy is really doing internally as opposed to reading marketing reports from investment banks i thank david met william says speaking to us from dublin not someone that knows all about island. and it's just crossed say i have a i have to get you a because of a c i have and so he and i was going on that what is going on so you agree with
dave that yes i got i do i think david talked a lot of sense there what you see on that and what you read in the newspapers is not does not reflect the reality the grad who are living there let's take public transport and i don't for example headlines in the irish times will tell you that fares for dublin commuters are going up ten percent and i think all right well you know that's not terribly bad but what david also said was that there was a huge failure on the government to rein in some with the unions yes of that so the public infrastructure is affected by. strikes on the one hand the what you don't know when what you don't see is that the average length of a commuter train is called the darts that brings commuters in and out of them average length has been reduced so commuters being squashed. into smaller trains right out which they're being asked to pay more yeah so the squeeze is calling for all so yeah this is again you don't see it in the market reports arise or as i say should because i mean i'm focusing on the data because the data is reasonably
optimistic and we'll i set about the prime minister's comments this week about coming away from this international bailout package sounds to me that seems positive because they are going to sound around the going to be independent no longer reliant on international help now i read in this one a look i think in the grace to use the cliche he would say that wouldn't it and it carries a prime minister who's on the back foot he's just suffered a humiliating defeat in a referendum where he tried to abolish the upper house of the irish parliament this would reduce the number of checks and balances obviously in the political system i think the people have been asked to pick up of a pretty heavy burden ok we'll leave it there i want to chat to you all day about this but i can't but thank you so much that you could insight that a little bit of irish charm here a venture capital today thank you. switzerland is a must for its call she banking secrecy and well most importantly in my view of course the walled largest offshore wealth center switzerland it's signed an
agreement convention with the organization for economic cooperation and development otherwise known as the o.e.c.d. the agreement means sharing banking information with dozens of other countries so i'm now joined by hans our kauffman swiss politician and economist for more information on this particular topic do you think that this is a good thing for the global economy do you think that this is more transparent say . less kind of black market. activities going on do you see this as a positive move. you know i'm still ready martin braver at all for privacy and privacy has no necessarily to do we stack salvation because of a newly introduced a banking secrecy between the two old growth wars we immediately also introduce a road hairiest at least holding so for thirty five percent so in switzerland.
really cheat taxes income for all ball moves or shares be called thirty five percent. of all these revenues are directly going through to state parks to probably start do you have foreign instruments from the e.u. from the united states where you do not have we told you taxes starts to program so one could also have solved the problem by introducing globally substantial be holding taxes do you think it's far as switzerland's economy is concerned it could be a bad thing and negative impacts can have an impact because we are quite unclear on. saying goodbye to another hundred thousand to two hundred thousand foreign customers especially u.s. customers are not all. accepted their legal murder rates mostly spanx
and i fear a direct we. made the two billion in revenues how's kaufman thank you for your time. time's a culprit news now than and it's not as rough as fourteen that's going to be making its way to prison but also by russian pharmaceutical company the piece is based fired had pharmaceutical company will open a forty million dollars facility to produce generic functions of account supplies into the audience of all the medicines in the south of brazil. taking advantage of brazil to get spending on medicine a public health program it's. just opened up so we'll hold an i.p.o. in the next three to five years the communications minister made the announcement on his office says in the u.k. . descends on the day of trading on the london stock exchange.
legal metals dispute a swiss school which has ordered to tadic movement company tell quite to pay roussel subsidiary investing in them it's a two hundred seventy five million dollars legal see the cool time as a claim that the tactic company had breached supply agreements made in two thousand and three ok it's that time of the big time i saw in-house investor and see what he's been up to and i go and. i'm really impressed with your dedication so i like it your way and all of that you'll still try eating but i wasn't asked last week when our business and it's one o'clock in the morning you're in treatment arizona but that's not going to stop me i am dedicated to venture capital and you know what you've got to make some money i have to break even so i'm going to keep on working until i make ground zero that is the attitude we like it so how you doing that and how you putting that into practice well the good news is i'm up over but let me tell you i'm not over the let me tell you how this happened last week if you
remember three quarters in financials and that's spirit bank specifically going gangbusters it went below one percent again for a third straight week in a row and so i made money the bad news is that governments remember sparkly or should i mean that's i mean i don't. know right but they didn't do me any good so i'm going to have to dump a diamond because they traded flash didn't make any money on them so overall my portfolio was i made eighty five dollars this week to a grand total of nine thousand nine hundred seventy five. twenty five dollars shy of the big turn down to break even so i need to keep at it and yes you do well it's on my case so you made it but you don't quite that yet all you know i. will stop the sleeve ours i know a lot can maybe what if you got right is going to work in fact this is unfortunately the diamondback stage very very very here i'm going to have to dump the diamonds i'm going to go all in financials it may seem boring but three weeks
in a row getting one percent i can't deny that so i'm going to go all in with spirit to see if i can at least break that ten thousand mark because if i do if you remember we never do you know we do have a deal i'm going to bring you some profit from united states if i actually break even but that's that's what's going to have to have ron and i so i get my chocolate if you break. in the business and waiting for you all the way back from inside i've done my part of the all right so i'm not so sure how i feel about this dumping the diamonds. we're going to go with the financials all right have a. halt buys what we don't provide capital mr sean tom i saw in house invest right that succeeding this week well my time is up today so it's on and did i even to yourself i say they have i really hope you come back next week but i.
mean if we're looking at the situation right now where we have a crackdown almost on a daily basis where we have people getting arbitrarily arrested from their homes during night raids where we have children being picked off the streets where we have people to talk with to gas inside their homes what torture is but is that not in itself a set of formal and i can. well see. it is style to sign some time to. find. the market why not. come to. find out what's really happening to the global
economy with max cons or run no holds barred look at the global financial headlines tune in to kaiser report on our. we speak your language will not advance. news programs and documentaries in spanish what matters to you breaking news a little tentative angles kidney's stories. so you hear. the spanish find out more visit. real damage and complexity of this oil spill was not something you can grasp just by looking at dirty birds we have between four to five million people in this directly affected area of the coast and it's pretty clear why it's not being reported because b.p. can't afford to have a reported all along the gulf coast are clean they are safe and they're open for
business if b.p. is the single largest oil contributor to the pentagon the us war machine is heavily reliant upon b.p. and their oil this is a huge step backwards for the marker sea it's a step forward. corrects it is toxic as it looked like spraying in vietnam it was it was not a picture that either the government or b.p. really wanted to have out there i don't want dispersants to be the agent. of this bill's. clegg . led.